Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 01, 2017 | |
Document And Entity Information [Abstract] | ||
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | COMMERCE BANCSHARES INC /MO/ | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 22,356 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 101,625,940 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Loans | $ 13,626,592 | $ 13,412,736 |
Allowance for loan losses | (157,832) | (155,932) |
Net loans | 13,468,760 | 13,256,804 |
Loans held for sale | 22,002 | 14,456 |
Investment securities: | ||
Available-for-sale Securities | 9,439,701 | 9,649,203 |
Trading | 22,291 | 22,225 |
Non-marketable | 102,388 | 99,558 |
Total investment securities | 9,564,380 | 9,770,986 |
Federal funds sold and short-term securities purchased under agreements to resell | 16,520 | 15,470 |
Long-term securities purchased under agreements to resell | 625,000 | 725,000 |
Interest earning deposits with banks | 80,860 | 272,275 |
Cash and due from banks | 433,747 | 494,690 |
Land, buildings and equipment, net | 334,586 | 337,705 |
Goodwill | 138,921 | 138,921 |
Other intangible assets, net | 7,002 | 6,709 |
Other assets | 387,065 | 608,408 |
Total assets | 25,078,843 | 25,641,424 |
Deposits: | ||
Non-interest bearing | 7,314,506 | 7,429,398 |
Savings, interest checking and money market | 11,427,615 | 11,430,789 |
Time open and C.D.'s of less than $100,000 | 679,668 | 713,075 |
Time open and C.D.'s, $100,000 or More | 1,403,873 | 1,527,833 |
Total deposits | 20,825,662 | 21,101,095 |
Federal funds purchased and securities sold under agreements to repurchase | 1,256,444 | 1,723,905 |
Other Borrowings | 101,903 | 102,049 |
Other liabilities | 266,627 | 213,243 |
Total liabilities | 22,450,636 | 23,140,292 |
Commerce Bancshares, Inc. stockholders' equity: | ||
Preferred stock | 144,784 | 144,784 |
Common stock | 510,015 | 510,015 |
Capital surplus | 1,546,534 | 1,552,454 |
Retained earnings | 390,853 | 292,849 |
Treasury stock, at cost | (10,373) | (15,294) |
Accumulated other comprehensive income | 42,070 | 10,975 |
Total Commerce Bancshares, Inc. stockholders' equity | 2,623,883 | 2,495,783 |
Non-controlling interest | 4,324 | 5,349 |
Total equity | 2,628,207 | 2,501,132 |
Total liabilities and equity | $ 25,078,843 | $ 25,641,424 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Mortgage Loans: | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 14,118,000 | $ 9,263,000 |
Investment Securities: | ||
Available-for-sale Securities Pledged as Collateral | $ 719,820,000 | $ 568,553,000 |
Stockholders' Equity: | ||
Preferred stock, par value | $ 1 | $ 1 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 6,000 | 6,000 |
Common stock, par value | $ 5 | $ 5 |
Common Stock, Shares Authorized | 120,000,000 | 120,000,000 |
Common stock, shares issued | 102,003,046 | 102,003,046 |
Treasury stock, shares | 207,294 | 364,711 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |||
INTEREST INCOME | ||||||
Interest and fees on loans | $ 134,273 | $ 121,151 | $ 262,596 | $ 240,484 | ||
Interest and fees on loans held for sale | 263 | 692 | 459 | 827 | ||
Interest on investment securities | 54,975 | 54,698 | 110,240 | 103,589 | ||
Interest on federal funds sold and short-term securities purchased under agreements to resell | 37 | 19 | 60 | 43 | ||
Interest on long-term securities purchased under agreements to resell | 3,684 | 3,354 | 7,477 | 6,829 | ||
Interest on deposits with banks | 362 | 151 | 759 | 421 | ||
Total interest income | 193,594 | 180,065 | 381,591 | 352,193 | ||
INTEREST EXPENSE | ||||||
Savings, interest checking and money market | 4,342 | 3,548 | 8,232 | 7,032 | ||
Time open and C.D.'s of less than $100,000 | 674 | 709 | 1,318 | 1,451 | ||
Time open and C.D.'s of $100,000 and over | 2,822 | 2,347 | 5,585 | 4,333 | ||
Interest on federal funds purchased and securities sold under agreements to repurchase | 2,038 | 725 | 3,577 | 1,613 | ||
Interest on other borrowings | 911 | 907 | 1,799 | 2,160 | ||
Total interest expense | 10,787 | 8,236 | 20,511 | 16,589 | ||
Net interest income | 182,807 | 171,829 | 361,080 | 335,604 | ||
Provision for loan losses | 10,758 | 9,216 | 21,886 | 18,655 | ||
Net interest income after provision for loan losses | 172,049 | 162,613 | 339,194 | 316,949 | ||
NON-INTEREST INCOME | ||||||
Bank card transaction fees | 44,999 | 45,065 | 88,203 | 89,535 | ||
Trust fees | 33,120 | 30,241 | 65,134 | 59,484 | ||
Deposit account charges and other fees | 22,861 | 21,328 | 44,803 | 42,019 | ||
Capital market fees | 2,156 | 2,500 | 4,498 | 5,225 | ||
Consumer brokerage services | 3,726 | 3,491 | 7,375 | 7,000 | ||
Loan fees and sales | 4,091 | 3,196 | 7,259 | 5,706 | ||
Other | 12,131 | 10,749 | 22,878 | 26,625 | ||
Total non-interest income | 123,084 | 116,570 | 240,150 | 235,594 | ||
INVESTMENT SECURITIES GAINS (LOSSES), NET | ||||||
Investment securities gains (losses), net | 1,651 | (744) | 879 | [1] | (1,739) | [1] |
NON-INTEREST EXPENSE | ||||||
Salaries and employee benefits | 108,829 | 104,808 | 221,198 | 211,667 | ||
Net occupancy | 11,430 | 11,092 | 22,873 | 22,395 | ||
Equipment | 4,776 | 4,781 | 9,385 | 9,415 | ||
Supplies and communication | 5,446 | 5,693 | 11,155 | 12,522 | ||
Data processing and software | 23,356 | 22,770 | 46,453 | 45,669 | ||
Marketing | 4,488 | 4,389 | 7,712 | 8,202 | ||
Deposit insurance | 3,592 | 3,143 | 7,063 | 6,308 | ||
Other | 22,677 | 20,413 | 45,585 | 38,384 | ||
Total non-interest expense | 184,594 | 177,089 | 371,424 | 354,562 | ||
Income before income taxes | 112,190 | 101,350 | 208,799 | 196,242 | ||
Less income taxes | 33,201 | 31,542 | 58,108 | 60,912 | ||
Net income | 78,989 | 69,808 | 150,691 | 135,330 | ||
Less non-controlling interest expense (income) | 29 | (85) | 227 | 63 | ||
Net income attributable to Commerce Bancshares, Inc. | 78,960 | 69,893 | 150,464 | 135,267 | ||
Preferred Stock Dividends | 2,250 | 2,250 | 4,500 | 4,500 | ||
Net Income (Loss) Available to Common Stockholders | $ 76,710 | $ 67,643 | $ 145,964 | $ 130,767 | ||
Net income per common share - basic | $ 0.75 | $ 0.67 | $ 1.43 | $ 1.29 | ||
Net income per common share - diluted | $ 0.75 | $ 0.66 | $ 1.43 | $ 1.28 | ||
[1] | Available for sale and non-marketable securities |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 78,989 | $ 69,808 | $ 150,691 | $ 135,330 |
Other comprehensive income (loss) | ||||
Net unrealized gains (losses) on securities for which a portion of an other-than-temporary impairment has been recorded in earnings | 76 | 0 | 171 | (398) |
Net unrealized gains (losses) on other securities | 11,241 | 31,139 | 30,243 | 101,634 |
Pension loss amortization | 341 | 356 | 681 | 718 |
Other comprehensive income (loss), net of tax | 11,658 | 31,495 | 31,095 | 101,954 |
Comprehensive income | 90,647 | 101,303 | 181,786 | 237,284 |
Non-controlling interest expense (income) | 29 | (85) | 227 | 63 |
Comprehensive income attributable to Commerce Bancshares, Inc | $ 90,618 | $ 101,388 | $ 181,559 | $ 237,221 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Non-Controlling Interest [Member] |
Balance at Dec. 31, 2015 | $ 2,367,418 | $ 144,784 | $ 489,862 | $ 1,337,677 | $ 383,313 | $ (26,116) | $ 32,470 | $ 5,428 |
Net income | 135,330 | 135,267 | 63 | |||||
Other comprehensive income (loss) | 101,954 | 101,954 | ||||||
Distributions to non-controlling interest | (586) | (586) | ||||||
Purchase of treasury stock | (37,462) | (37,462) | ||||||
Issuance of stock under purchase and equity compensation plans | (2) | (11,873) | 11,871 | |||||
Excess (net) tax benefit related to equity compensation plans | 1,904 | 1,904 | ||||||
Stock-based compensation | 6,287 | 6,287 | ||||||
Cash dividends per share, Common Stock, Cash | (43,522) | (43,522) | ||||||
Dividends per share, Preferred Stock, Cash | (4,500) | (4,500) | ||||||
Balance at Jun. 30, 2016 | 2,526,821 | 144,784 | 489,862 | 1,333,995 | 470,558 | (51,707) | 134,424 | 4,905 |
Balance at Dec. 31, 2016 | 2,501,132 | 144,784 | 510,015 | 1,552,454 | 292,849 | (15,294) | 10,975 | 5,349 |
Adoption of ASU 2016-09 | 1,297 | 3,441 | (2,144) | |||||
Net income | 150,691 | 150,464 | 227 | |||||
Other comprehensive income (loss) | 31,095 | 31,095 | ||||||
Distributions to non-controlling interest | (1,252) | (1,252) | ||||||
Purchase of treasury stock | (10,628) | (10,628) | ||||||
Issuance of stock under purchase and equity compensation plans | (7) | (15,556) | 15,549 | |||||
Stock-based compensation | 6,195 | 6,195 | ||||||
Cash dividends per share, Common Stock, Cash | (45,816) | (45,816) | ||||||
Dividends per share, Preferred Stock, Cash | (4,500) | (4,500) | ||||||
Balance at Jun. 30, 2017 | $ 2,628,207 | $ 144,784 | $ 510,015 | $ 1,546,534 | $ 390,853 | $ (10,373) | $ 42,070 | $ 4,324 |
Consolidated Statements Of Cha7
Consolidated Statements Of Changes In Equity (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Stockholders' Equity [Abstract] | ||
Common Stock, Dividends, per share, cash paid | $ 0.450 | $ 0.429 |
Preferred Stock, Dividends, per share, cash paid | $ 0.750 | $ 0.750 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | ||
OPERATING ACTIVITIES: | |||
Net income | $ 150,691 | $ 135,330 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 21,886 | 18,655 | |
Provision for depreciation and amortization | 19,890 | 20,689 | |
Amortization of investment security premiums, net | 17,827 | 16,014 | |
Investment securities gains (losses), net | [1] | (879) | 1,739 |
Net gains on sales of loans held for sale | (3,547) | (2,880) | |
Origination of loans held for sale | (96,943) | (70,880) | |
Proceeds from sales and repayments of held for sale | 92,423 | 68,486 | |
Net (increase) decrease in trading securities, excluding unsettled transactions | 6,097 | 81,184 | |
Stock-based compensation | 6,195 | 6,287 | |
(Increase) decrease in interest receivable | (428) | 60 | |
Increase (decrease) in interest payable | (692) | 57 | |
Increase (decrease) in income taxes payable | 1,483 | 73 | |
Other changes, net | (1,985) | (9,785) | |
Net cash provided by (used in) operating activities | 212,018 | 265,029 | |
INVESTING ACTIVITIES: | |||
Proceeds from sales of investment securities | [1] | 6,552 | 2,071 |
Proceeds from maturities/pay downs of investment securities | [1] | 910,411 | 1,109,707 |
Purchases of investment securities | [1] | (625,931) | (414,154) |
Net (increase) decrease in loans | (234,405) | (693,522) | |
Repayments of long-term securities purchased under agreements to resell | 100,000 | 50,000 | |
Purchases of land, buildings and equipment | (14,117) | (13,649) | |
Sales of land, buildings and equipment | 2,527 | 5,399 | |
Net cash provided by (used in) investing activities | 145,037 | 45,852 | |
FINANCING ACTIVITIES: | |||
Net increase (decrease) in non-interest bearing, savings, interest checking and money market deposits | 77,562 | (38,985) | |
Net increase (decrease) in time open and C.D.'s | (157,367) | 267,339 | |
Net increase (decrease) in federal funds purchased and short-term securities sold under agreements to repurchase | (467,461) | (331,280) | |
Repayment of long-term borrowings | (146) | (840) | |
Additional long-term borrowings | 0 | 900 | |
Purchases of treasury stock | (10,628) | (37,462) | |
Issuance of stock under equity compensation plans | (7) | (2) | |
Cash dividends paid on common stock | (45,816) | (43,522) | |
Cash dividends paid on preferred stock | (4,500) | (4,500) | |
Net cash provided by (used in) financing activities | (608,363) | (188,352) | |
Increase (decrease) in cash and cash equivalents | (251,308) | 122,529 | |
Cash and cash equivalents at beginning of year | 782,435 | 502,719 | |
Cash and cash equivalents at end of period | 531,127 | 625,248 | |
Supplemental Cash Flow Information: | |||
Income tax payments, net | 54,621 | 59,886 | |
Interest paid on deposits and borrowings | 21,203 | 16,532 | |
Loans transferred to foreclosed real estate | 461 | 861 | |
Transfer of loans held for investment to held for sale | $ 0 | $ 50,360 | |
[1] | Available for sale and non-marketable securities |
Principles Of Consolidation And
Principles Of Consolidation And Presentation | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Principles Of Consolidation And Presentation | Principles of Consolidation and Presentation The accompanying consolidated financial statements include the accounts of Commerce Bancshares, Inc. and all majority-owned subsidiaries (the Company). Most of the Company's operations are conducted by its subsidiary bank, Commerce Bank (the Bank). The consolidated financial statements in this report have not been audited by an independent registered public accounting firm, but in the opinion of management, all adjustments necessary to present fairly the financial position and the results of operations for the interim periods have been made. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications were made to 2016 data to conform to current year presentation. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. Management has evaluated subsequent events for potential recognition or disclosure. The results of operations for the three and six month periods ended June 30, 2017 are not necessarily indicative of results to be attained for the full year or any other interim period. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's most recent Annual Report on Form 10-K, containing the latest audited consolidated financial statements and notes thereto. |
Loans And Allowance For Loan Lo
Loans And Allowance For Loan Losses | 6 Months Ended |
Jun. 30, 2017 | |
Loans And Allowance For Loan Losses [Abstract] | |
Loans And Allowance For Loan Losses | Loans and Allowance for Loan Losses Major classifications within the Company’s held for investment loan portfolio at June 30, 2017 and December 31, 2016 are as follows: (In thousands) June 30, 2017 December 31, 2016 Commercial: Business $ 4,852,408 $ 4,776,365 Real estate – construction and land 848,152 791,236 Real estate – business 2,727,349 2,643,374 Personal Banking: Real estate – personal 2,009,203 2,010,397 Consumer 2,038,514 1,990,801 Revolving home equity 403,387 413,634 Consumer credit card 740,865 776,465 Overdrafts 6,714 10,464 Total loans $ 13,626,592 $ 13,412,736 At June 30, 2017 , loans of $3.9 billion were pledged at the Federal Home Loan Bank as collateral for borrowings and letters of credit obtained to secure public deposits. Additional loans of $1.6 billion were pledged at the Federal Reserve Bank as collateral for discount window borrowings. Allowance for loan losses A summary of the activity in the allowance for loan losses during the three and six months ended June 30, 2017 and 2016 , respectively, follows: For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands) Commercial Personal Banking Total Commercial Personal Banking Total Balance at beginning of period $ 92,951 $ 64,881 $ 157,832 $ 91,361 $ 64,571 $ 155,932 Provision (111 ) 10,869 10,758 1,002 20,884 21,886 Deductions: Loans charged off 531 13,415 13,946 1,077 25,745 26,822 Less recoveries on loans 430 2,758 3,188 1,453 5,383 6,836 Net loan charge-offs (recoveries) 101 10,657 10,758 (376 ) 20,362 19,986 Balance June 30, 2017 $ 92,739 $ 65,093 $ 157,832 $ 92,739 $ 65,093 $ 157,832 Balance at beginning of period $ 86,027 $ 66,105 $ 152,132 $ 82,086 $ 69,446 $ 151,532 Provision 1,569 7,647 9,216 5,720 12,935 18,655 Deductions: Loans charged off 661 11,984 12,645 2,174 23,761 25,935 Less recoveries on loans 2,263 2,866 5,129 3,566 6,014 9,580 Net loan charge-offs (recoveries) (1,602 ) 9,118 7,516 (1,392 ) 17,747 16,355 Balance June 30, 2016 $ 89,198 $ 64,634 $ 153,832 $ 89,198 $ 64,634 $ 153,832 The following table shows the balance in the allowance for loan losses and the related loan balance at June 30, 2017 and December 31, 2016 , disaggregated on the basis of impairment methodology. Impaired loans evaluated under ASC 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans discussed below, which are deemed to have similar risk characteristics and are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20. Impaired Loans All Other Loans (In thousands) Allowance for Loan Losses Loans Outstanding Allowance for Loan Losses Loans Outstanding June 30, 2017 Commercial $ 1,454 $ 44,937 $ 91,285 $ 8,382,972 Personal Banking 1,433 20,221 63,660 5,178,462 Total $ 2,887 $ 65,158 $ 154,945 $ 13,561,434 December 31, 2016 Commercial $ 1,817 $ 44,795 $ 89,544 $ 8,166,180 Personal Banking 1,292 19,737 63,279 5,182,024 Total $ 3,109 $ 64,532 $ 152,823 $ 13,348,204 Impaired loans The table below shows the Company’s investment in impaired loans at June 30, 2017 and December 31, 2016 . These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section on page 14. (In thousands) June 30, 2017 Dec. 31, 2016 Non-accrual loans $ 13,362 $ 14,283 Restructured loans (accruing) 51,796 50,249 Total impaired loans $ 65,158 $ 64,532 The following table provides additional information about impaired loans held by the Company at June 30, 2017 and December 31, 2016 , segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided. (In thousands) Recorded Investment Unpaid Principal Balance Related Allowance June 30, 2017 With no related allowance recorded: Business $ 5,566 $ 9,000 $ — Real estate – construction and land 537 752 — $ 6,103 $ 9,752 $ — With an allowance recorded: Business $ 29,226 $ 29,821 $ 914 Real estate – construction and land 65 68 3 Real estate – business 9,543 10,961 537 Real estate – personal 6,286 9,258 570 Consumer 6,242 6,280 259 Revolving home equity 582 582 10 Consumer credit card 7,111 7,111 594 $ 59,055 $ 64,081 $ 2,887 Total $ 65,158 $ 73,833 $ 2,887 December 31, 2016 With no related allowance recorded: Business $ 7,375 $ 10,470 $ — Real estate – construction and land 557 752 — $ 7,932 $ 11,222 $ — With an allowance recorded: Business $ 29,924 $ 31,795 $ 1,318 Real estate – construction and land 69 72 3 Real estate – business 6,870 8,072 496 Real estate – personal 6,394 9,199 642 Consumer 5,281 5,281 57 Revolving home equity 584 584 1 Consumer credit card 7,478 7,478 592 $ 56,600 $ 62,481 $ 3,109 Total $ 64,532 $ 73,703 $ 3,109 Total average impaired loans for the three and six month periods ended June 30, 2017 and 2016 , respectively, are shown in the table below. (In thousands) Commercial Personal Banking Total Average Impaired Loans: For the three months ended June 30, 2017 Non-accrual loans $ 9,867 $ 4,539 $ 14,406 Restructured loans (accruing) 34,765 15,780 50,545 Total $ 44,632 $ 20,319 $ 64,951 For the six months ended June 30, 2017 Non-accrual loans $ 10,238 $ 4,027 $ 14,265 Restructured loans (accruing) 33,333 15,991 49,324 Total $ 43,571 $ 20,018 $ 63,589 For the three months ended June 30, 2016 Non-accrual loans $ 22,098 $ 4,461 $ 26,559 Restructured loans (accruing) 28,775 17,297 46,072 Total $ 50,873 $ 21,758 $ 72,631 For the six months ended June 30, 2016 Non-accrual loans $ 21,551 $ 4,542 $ 26,093 Restructured loans (accruing) 27,977 17,499 45,476 Total $ 49,528 $ 22,041 $ 71,569 The table below shows interest income recognized during the three and six month periods ended June 30, 2017 and 2016 , respectively, for impaired loans held at the end of each period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section on page 14. For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands) 2017 2016 2017 2016 Interest income recognized on impaired loans: Business $ 319 $ 236 $ 637 $ 472 Real estate – construction and land 1 3 2 5 Real estate – business 88 56 175 112 Real estate – personal 36 42 71 84 Consumer 80 89 159 177 Revolving home equity 6 4 12 7 Consumer credit card 145 159 289 318 Total $ 675 $ 589 $ 1,345 $ 1,175 Delinquent and non-accrual loans The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at June 30, 2017 and December 31, 2016 . (In thousands) Current or Less Than 30 Days Past Due 30 – 89 Days Past Due 90 Days Past Due and Still Accruing Non-accrual Total June 30, 2017 Commercial: Business $ 4,842,945 $ 2,761 $ 372 $ 6,330 $ 4,852,408 Real estate – construction and land 843,289 4,319 — 544 848,152 Real estate – business 2,721,612 3,904 — 1,833 2,727,349 Personal Banking: Real estate – personal 1,997,661 6,060 1,978 3,504 2,009,203 Consumer 2,012,634 22,526 2,203 1,151 2,038,514 Revolving home equity 400,306 2,154 927 — 403,387 Consumer credit card 722,604 9,111 9,150 — 740,865 Overdrafts 6,414 300 — — 6,714 Total $ 13,547,465 $ 51,135 $ 14,630 $ 13,362 $ 13,626,592 December 31, 2016 Commercial: Business $ 4,763,274 $ 3,735 $ 674 $ 8,682 $ 4,776,365 Real estate – construction and land 789,633 1,039 — 564 791,236 Real estate – business 2,639,586 2,154 — 1,634 2,643,374 Personal Banking: Real estate – personal 1,995,724 9,162 2,108 3,403 2,010,397 Consumer 1,957,358 29,783 3,660 — 1,990,801 Revolving home equity 411,483 1,032 1,119 — 413,634 Consumer credit card 757,443 10,187 8,835 — 776,465 Overdrafts 10,014 450 — — 10,464 Total $ 13,324,515 $ 57,542 $ 16,396 $ 14,283 $ 13,412,736 Credit quality The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is applied to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment. Commercial Loans (In thousands) Business Real Estate-Construction Real Estate- Business Total June 30, 2017 Pass $ 4,617,838 $ 843,151 $ 2,629,544 $ 8,090,533 Special mention 180,380 1,754 44,279 226,413 Substandard 47,860 2,703 51,693 102,256 Non-accrual 6,330 544 1,833 8,707 Total $ 4,852,408 $ 848,152 $ 2,727,349 $ 8,427,909 December 31, 2016 Pass $ 4,607,553 $ 788,778 $ 2,543,348 $ 7,939,679 Special mention 116,642 722 45,479 162,843 Substandard 43,488 1,172 52,913 97,573 Non-accrual 8,682 564 1,634 10,880 Total $ 4,776,365 $ 791,236 $ 2,643,374 $ 8,210,975 The credit quality of Personal Banking loans is monitored primarily on the basis of aging/delinquency, and this information is provided in the table in the above "Delinquent and non-accrual loans" section. In addition, FICO scores are obtained and updated on a quarterly basis for most of the loans in the Personal Banking portfolio. This is a published credit score designed to measure the risk of default by taking into account various factors from a borrower's financial history. The Bank normally obtains a FICO score at the loan's origination and renewal dates, and updates are obtained on a quarterly basis. Excluded from the table below are certain Personal Banking loans for which FICO scores are not obtained because they generally pertain to commercial customer activities and are often underwritten with other collateral considerations. At June 30, 2017 , these were comprised of $227.4 million in personal real estate loans, or 4.4% of the Personal Banking portfolio, compared to $237.2 million at December 31, 2016 . For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at June 30, 2017 and December 31, 2016 by FICO score. Personal Banking Loans % of Loan Category Real Estate - Personal Consumer Revolving Home Equity Consumer Credit Card June 30, 2017 FICO score: Under 600 1.2 % 3.2 % 1.0 % 4.9 % 600 - 659 2.7 5.7 1.8 14.8 660 - 719 10.6 18.5 9.5 34.8 720 - 779 26.1 26.9 21.8 25.8 780 and over 59.4 45.7 65.9 19.7 Total 100.0 % 100.0 % 100.0 % 100.0 % December 31, 2016 FICO score: Under 600 1.3 % 3.4 % 1.0 % 4.9 % 600 - 659 2.6 6.4 1.8 15.5 660 - 719 10.4 19.7 9.7 34.9 720 - 779 25.4 26.3 21.1 25.1 780 and over 60.3 44.2 66.4 19.6 Total 100.0 % 100.0 % 100.0 % 100.0 % Troubled debt restructurings As mentioned previously, the Company's impaired loans include loans which have been classified as troubled debt restructurings. Total restructured loans amounted to $59.2 million at June 30, 2017 . Restructured loans are those extended to borrowers who are experiencing financial difficulty and who have been granted a concession. Restructured loans are placed on non-accrual status if the Company does not believe it probable that amounts due under the contractual terms will be collected, and those non-accrual loans totaled $7.4 million at June 30, 2017 . Other performing restructured loans totaled $51.8 million at June 30, 2017 . These include certain business, construction and business real estate loans classified as substandard. Upon maturity, the loans renewed at interest rates judged not to be market rates for new debt with similar risk and as a result the loans were classified as troubled debt restructurings. These commercial loans totaled $36.8 million at June 30, 2017 . These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. Troubled debt restructurings also include certain credit card loans under various debt management and assistance programs, which totaled $7.1 million at June 30, 2017 . Modifications to credit card loans generally involve removing the available line of credit, placing loans on amortizing status, and lowering the contractual interest rate. The Company has classified additional loans as troubled debt restructurings because they were not reaffirmed by the borrower in bankruptcy proceedings. At June 30, 2017 , these loans totaled $7.6 million in personal real estate, revolving home equity, and consumer loans. Interest on these loans is being recognized on an accrual basis, as the borrowers are continuing to make payments under the terms of the loan agreements. The following table shows the outstanding balances of loans classified as troubled debt restructurings at June 30, 2017 , in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal. (In thousands) June 30, 2017 Balance 90 days past due at any time during previous 12 months Commercial: Business $ 34,088 $ — Real estate - construction and land 537 — Real estate - business 7,710 — Personal Banking: Real estate - personal 3,995 353 Consumer 5,149 50 Revolving home equity 582 47 Consumer credit card 7,111 649 Total restructured loans $ 59,172 $ 1,099 For those loans on non-accrual status also classified as restructured, the modification did not create any further financial effect on the Company as those loans were already recorded at net realizable value. For those performing commercial loans classified as restructured, there were no concessions involving forgiveness of principal or interest and, therefore, there was no financial impact to the Company as a result of modification to these loans. No financial impact resulted from those performing loans where the debt was not reaffirmed in bankruptcy, as no changes to loan terms occurred in that process. The effects of modifications to consumer credit card loans were estimated to decrease interest income by approximately $862 thousand on an annual, pre-tax basis, compared to amounts contractually owed. The allowance for loan losses related to troubled debt restructurings on non-accrual status is determined by individual evaluation, including collateral adequacy, using the same process as loans on non-accrual status which are not classified as troubled debt restructurings. Those performing loans classified as troubled debt restructurings are accruing loans which management expects to collect under contractual terms. Performing commercial loans have had no other concessions granted other than being renewed at an interest rate judged not to be market. As such, they have similar risk characteristics as non-troubled debt commercial loans and are collectively evaluated based on internal risk rating, loan type, delinquency, historical experience and current economic factors. Performing personal banking loans classified as troubled debt restructurings resulted from the borrower not reaffirming the debt during bankruptcy and have had no other concession granted, other than the Bank's future limitations on collecting payment deficiencies or in pursuing foreclosure actions. As such, they have similar risk characteristics as non-troubled debt personal banking loans and are evaluated collectively based on loan type, delinquency, historical experience and current economic factors. If a troubled debt restructuring defaults and is already on non-accrual status, the allowance for loan losses continues to be based on individual evaluation, using discounted expected cash flows or the fair value of collateral. If an accruing troubled debt restructuring defaults, the loan's risk rating is downgraded to non-accrual status and the loan's related allowance for loan losses is determined based on individual evaluation, or if necessary, the loan is charged off and collection efforts begun. The Company had commitments of $3.6 million at June 30, 2017 to lend additional funds to borrowers with restructured loans. Loans held for sale The Company designates certain long-term fixed rate personal real estate loans as held for sale, and the Company has elected the fair value option for these loans. The election of the fair value option aligns the accounting for these loans with the related economic hedges discussed in Note 10. The loans are primarily sold to FNMA, FHLMC, and GNMA. At June 30, 2017 , the fair value of these loans was $14.1 million , and the unpaid principal balance was $13.6 million . The Company also designates student loan originations as held for sale. The borrowers are credit-worthy students who are attending colleges and universities. The loans are intended to be sold in the secondary market, and the Company maintains contracts with Sallie Mae to sell the loans within 210 days after the last disbursement to the student. These loans are carried at lower of cost or fair value, which at June 30, 2017 totaled $7.9 million . At June 30, 2017 , none of the loans held for sale were on non-accrual status or 90 days past due and still accruing. Foreclosed real estate/repossessed assets The Company’s holdings of foreclosed real estate totaled $515 thousand and $366 thousand at June 30, 2017 and December 31, 2016 , respectively. Personal property acquired in repossession, generally autos and marine and recreational vehicles, totaled $2.4 million and $2.2 million at June 30, 2017 and December 31, 2016 , respectively. Upon acquisition, these assets are recorded at fair value less estimated selling costs at the date of foreclosure, establishing a new cost basis. They are subsequently carried at the lower of this cost basis or fair value less estimated selling costs. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investment Securities [Abstract] | |
Investment Securities | Investment Securities Investment securities, at fair value, consisted of the following at June 30, 2017 and December 31, 2016 . (In thousands) June 30, 2017 December 31, 2016 Available for sale $ 9,439,701 $ 9,649,203 Trading 22,291 22,225 Non-marketable 102,388 99,558 Total investment securities $ 9,564,380 $ 9,770,986 Most of the Company’s investment securities are classified as available for sale, and this portfolio is discussed in more detail below. The available for sale and the trading portfolios are carried at fair value. Securities which are classified as non-marketable include Federal Home Loan Bank (FHLB) stock and Federal Reserve Bank stock held for debt and regulatory purposes, which totaled $47.1 million at June 30, 2017 and $46.9 million at December 31, 2016 . Investment in Federal Reserve Bank stock is based on the capital structure of the investing bank, and investment in FHLB stock is tied to the level of borrowings from the FHLB. These holdings are carried at cost. Non-marketable securities also include private equity investments, which amounted to $55.0 million at June 30, 2017 and $52.3 million at December 31, 2016 . In the absence of readily ascertainable market values, these securities are carried at estimated fair value. A summary of the available for sale investment securities by maturity groupings as of June 30, 2017 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, GNMA and FDIC, in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral. (In thousands) Amortized Cost Fair Value U.S. government and federal agency obligations: Within 1 year $ 58,665 $ 58,829 After 1 but within 5 years 499,601 502,990 After 5 but within 10 years 318,318 318,212 After 10 years 35,444 32,524 Total U.S. government and federal agency obligations 912,028 912,555 Government-sponsored enterprise obligations: Within 1 year 98,069 98,206 After 1 but within 5 years 336,302 335,723 After 10 years 12,493 12,356 Total government-sponsored enterprise obligations 446,864 446,285 State and municipal obligations: Within 1 year 171,936 172,890 After 1 but within 5 years 643,200 654,145 After 5 but within 10 years 879,036 900,292 After 10 years 50,896 50,470 Total state and municipal obligations 1,745,068 1,777,797 Mortgage and asset-backed securities: Agency mortgage-backed securities 2,604,217 2,620,198 Non-agency mortgage-backed securities 1,063,236 1,066,889 Asset-backed securities 2,249,399 2,250,426 Total mortgage and asset-backed securities 5,916,852 5,937,513 Other debt securities: Within 1 year 13,387 13,389 After 1 but within 5 years 176,199 177,812 After 5 but within 10 years 125,910 126,503 Total other debt securities 315,496 317,704 Equity securities 5,463 47,847 Total available for sale investment securities $ 9,341,771 $ 9,439,701 Investments in U.S. government and federal agency obligations include U.S. Treasury inflation-protected securities, which totaled $432.0 million , at fair value, at June 30, 2017 . Interest paid on these securities increases with inflation and decreases with deflation, as measured by the Consumer Price Index. Included in state and municipal obligations are $16.8 million , at fair value, of auction rate securities, which were purchased from bank customers in 2008. Interest on these bonds is currently being paid at the maximum failed auction rates. Included in equity securities is common and preferred stock held by the holding company, Commerce Bancshares, Inc. (the Parent), with a fair value of $47.7 million at June 30, 2017 . For securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in accumulated other comprehensive income, by security type. (In thousands) Amortized Cost Gross Gross Fair Value June 30, 2017 U.S. government and federal agency obligations $ 912,028 $ 5,575 $ (5,048 ) $ 912,555 Government-sponsored enterprise obligations 446,864 892 (1,471 ) 446,285 State and municipal obligations 1,745,068 34,717 (1,988 ) 1,777,797 Mortgage and asset-backed securities: Agency mortgage-backed securities 2,604,217 29,780 (13,799 ) 2,620,198 Non-agency mortgage-backed securities 1,063,236 8,063 (4,410 ) 1,066,889 Asset-backed securities 2,249,399 5,725 (4,698 ) 2,250,426 Total mortgage and asset-backed securities 5,916,852 43,568 (22,907 ) 5,937,513 Other debt securities 315,496 2,745 (537 ) 317,704 Equity securities 5,463 42,384 — 47,847 Total $ 9,341,771 $ 129,881 $ (31,951 ) $ 9,439,701 December 31, 2016 U.S. government and federal agency obligations $ 919,904 $ 7,312 $ (6,312 ) $ 920,904 Government-sponsored enterprise obligations 450,448 1,126 (1,576 ) 449,998 State and municipal obligations 1,778,684 12,223 (12,693 ) 1,778,214 Mortgage and asset-backed securities: Agency mortgage-backed securities 2,674,964 31,610 (20,643 ) 2,685,931 Non-agency mortgage-backed securities 1,054,446 7,686 (6,493 ) 1,055,639 Asset-backed securities 2,389,176 3,338 (11,213 ) 2,381,301 Total mortgage and asset-backed securities 6,118,586 42,634 (38,349 ) 6,122,871 Other debt securities 327,030 935 (2,012 ) 325,953 Equity securities 5,678 45,585 — 51,263 Total $ 9,600,330 $ 109,815 $ (60,942 ) $ 9,649,203 The Company’s impairment policy requires a review of all securities for which fair value is less than amortized cost. Special emphasis and analysis is placed on securities whose credit rating has fallen below A3 (Moody's) or A- (Standard & Poor's), whose fair values have fallen more than 20% below purchase price for an extended period of time, or have been identified based on management’s judgment. These securities are placed on a watch list, and for all such securities, cash flow analyses are prepared. For more complex analyses, detailed cash flow models are prepared which use inputs specific to each security. Inputs to these models include factors such as cash flow received, contractual payments required, and various other information related to the underlying collateral (including current delinquencies), collateral loss severity rates (including loan to values), expected delinquency rates, credit support from other tranches, and prepayment speeds. Stress tests are performed at varying levels of delinquency rates, prepayment speeds and loss severities in order to gauge probable ranges of credit loss. At June 30, 2017 , the fair value of securities on this watch list was $68.9 million compared to $79.6 million at December 31, 2016 . As of June 30, 2017 , the Company had recorded other-than-temporary impairment (OTTI) on certain non-agency mortgage-backed securities, part of the watch list mentioned above, which had an aggregate fair value of $30.3 million . The cumulative credit-related portion of the impairment on these securities, which was recorded in earnings, totaled $14.3 million . The Company does not intend to sell these securities and believes it is not likely that it will be required to sell the securities before the recovery of their amortized cost. The credit-related portion of the loss on these securities was based on the cash flows projected to be received over the estimated life of the securities, discounted to present value, and compared to the current amortized cost bases of the securities. Significant inputs to the cash flow models used to calculate the credit losses on these securities at June 30, 2017 included the following: Significant Inputs Range Prepayment CPR 4% - 25% Projected cumulative default 14% - 51% Credit support 0% - 38% Loss severity 16% - 63% The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings on all available for sale debt securities. For the Six Months Ended June 30 (In thousands) 2017 2016 Cumulative OTTI credit losses at January 1 $ 14,080 $ 14,129 Credit losses on debt securities for which impairment was not previously recognized 46 — Credit losses on debt securities for which impairment was previously recognized 274 270 Increase in expected cash flows that are recognized over remaining life of security (146 ) (37 ) Cumulative OTTI credit losses at June 30 $ 14,254 $ 14,362 Securities with unrealized losses recorded in accumulated other comprehensive income are shown in the table below, along with the length of the impairment period. Less than 12 months 12 months or longer Total (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2017 U.S. government and federal agency obligations $ 145,884 $ 5,048 $ — $ — $ 145,884 $ 5,048 Government-sponsored enterprise obligations 181,682 1,471 — — 181,682 1,471 State and municipal obligations 168,613 1,365 13,761 623 182,374 1,988 Mortgage and asset-backed securities: Agency mortgage-backed securities 959,777 13,795 1,720 4 961,497 13,799 Non-agency mortgage-backed securities 503,709 4,165 47,189 245 550,898 4,410 Asset-backed securities 795,526 2,606 234,619 2,092 1,030,145 4,698 Total mortgage and asset-backed securities 2,259,012 20,566 283,528 2,341 2,542,540 22,907 Other debt securities 65,547 500 1,463 37 67,010 537 Total $ 2,820,738 $ 28,950 $ 298,752 $ 3,001 $ 3,119,490 $ 31,951 December 31, 2016 U.S. government and federal agency obligations $ 349,538 $ 2,823 $ 32,208 $ 3,489 $ 381,746 $ 6,312 Government-sponsored enterprise obligations 190,441 1,576 — — 190,441 1,576 State and municipal obligations 700,779 12,164 15,195 529 715,974 12,693 Mortgage and asset-backed securities: Agency mortgage-backed securities 1,147,416 20,638 2,150 5 1,149,566 20,643 Non-agency mortgage-backed securities 688,131 6,373 34,946 120 723,077 6,493 Asset-backed securities 780,209 5,277 358,778 5,936 1,138,987 11,213 Total mortgage and asset-backed securities 2,615,756 32,288 395,874 6,061 3,011,630 38,349 Other debt securities 179,639 1,986 975 26 180,614 2,012 Total $ 4,036,153 $ 50,837 $ 444,252 $ 10,105 $ 4,480,405 $ 60,942 The Company’s holdings of state and municipal obligations included gross unrealized losses of $2.0 million at June 30, 2017 , of which $230 thousand related to auction rate securities. This portfolio totaled $1.8 billion at fair value, or 18.8% of total available for sale securities. The average credit quality of the portfolio, excluding auction rate securities, is Aa2 as rated by Moody’s. The portfolio is diversified in order to reduce risk, and the Company has processes and procedures in place to monitor its holdings, identify signs of financial distress and, if necessary, exit its positions in a timely manner. The following tables present proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings. For the Six Months Ended June 30 (In thousands) 2017 2016 Proceeds from sales of securities: Available for sale $ 4,972 $ — Non-marketable 1,580 2,071 Total proceeds $ 6,552 $ 2,071 Investment securities gains (losses), net: Available for sale: Losses realized on called bonds $ (254 ) $ — Losses realized on sales (22 ) — Gains realized on donations 4,315 — Other-than-temporary impairment recognized on debt securities (320 ) (270 ) Non-marketable: Gains realized on sales 642 2,260 Losses realized on sales (652 ) — Fair value adjustments, net (2,830 ) (3,729 ) Total gains (losses), net $ 879 $ (1,739 ) At June 30, 2017 , securities totaling $3.9 billion in fair value were pledged to secure public fund deposits, securities sold under agreements to repurchase, trust funds, and borrowings at the Federal Reserve Bank and FHLB. Securities pledged under agreements pursuant to which the collateral may be sold or re-pledged by the secured parties approximated $719.8 million , while the remaining securities were pledged under agreements pursuant to which the secured parties may not sell or re-pledge the collateral. Except for obligations of various government-sponsored enterprises such as FNMA, FHLB and FHLMC, no investment in a single issuer exceeded 10% of stockholders’ equity. |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Other Intangible Assets | Goodwill and Other Intangible Assets The following table presents information about the Company's intangible assets which have estimable useful lives. June 30, 2017 December 31, 2016 (In thousands) Gross Carrying Amount Accumulated Amortization Valuation Allowance Net Amount Gross Carrying Amount Accumulated Amortization Valuation Allowance Net Amount Amortizable intangible assets: Core deposit premium $ 31,270 $ (27,914 ) $ — $ 3,356 $ 31,270 $ (27,429 ) $ — $ 3,841 Mortgage servicing rights 6,637 (2,975 ) (16 ) 3,646 5,672 (2,782 ) (22 ) 2,868 Total $ 37,907 $ (30,889 ) $ (16 ) $ 7,002 $ 36,942 $ (30,211 ) $ (22 ) $ 6,709 Aggregate amortization expense on intangible assets was $330 thousand and $399 thousand for the three month periods ended June 30, 2017 and 2016 , respectively, and $678 thousand and $794 thousand for the six month periods ended June 30, 2017 and 2016 , respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of June 30, 2017 . The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions. (In thousands) 2017 $ 1,141 2018 1,091 2019 917 2020 765 2021 651 Changes in the carrying amount of goodwill and net other intangible assets for the six month period ended June 30, 2017 is as follows: (In thousands) Goodwill Core Deposit Premium Mortgage Servicing Rights Balance January 1, 2017 $ 138,921 $ 3,841 $ 2,868 Originations — — 965 Amortization — (485 ) (193 ) Impairment reversal — — 6 Balance June 30, 2017 $ 138,921 $ 3,356 $ 3,646 Goodwill allocated to the Company’s operating segments at June 30, 2017 and December 31, 2016 is shown below. (In thousands) Consumer segment $ 70,721 Commercial segment 67,454 Wealth segment 746 Total goodwill $ 138,921 |
Guarantees
Guarantees | 6 Months Ended |
Jun. 30, 2017 | |
Guarantees [Abstract] | |
Guarantees | Guarantees The Company, as a provider of financial services, routinely issues financial guarantees in the form of financial and performance standby letters of credit. Standby letters of credit are contingent commitments issued by the Company generally to guarantee the payment or performance obligation of a customer to a third party. While these represent a potential outlay by the Company, a significant amount of the commitments may expire without being drawn upon. The Company has recourse against the customer for any amount it is required to pay to a third party under a standby letter of credit. The letters of credit are subject to the same credit policies, underwriting standards and approval process as loans made by the Company. Most of the standby letters of credit are secured, and in the event of nonperformance by customers, the Company has rights to the underlying collateral, which could include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities. Upon issuance of standby letters of credit, the Company recognizes a liability for the fair value of the obligation undertaken, which is estimated to be equivalent to the amount of fees received from the customer over the life of the agreement. At June 30, 2017 , that net liability was $2.1 million , which will be accreted into income over the remaining life of the respective commitments. The contractual amount of these letters of credit, which represents the maximum potential future payments guaranteed by the Company, was $338.8 million at June 30, 2017 . The Company periodically enters into credit risk participation agreements (RPAs) as a guarantor to other financial institutions, in order to mitigate those institutions’ credit risk associated with interest rate swaps with third parties. The RPA stipulates that, in the event of default by the third party on the interest rate swap, the Company will reimburse a portion of the loss borne by the financial institution. These interest rate swaps are normally collateralized (generally with real property, inventories and equipment) by the third party, which limits the credit risk associated with the Company’s RPAs. The third parties usually have other borrowing relationships with the Company. The Company monitors overall borrower collateral and at June 30, 2017 , believes sufficient collateral is available to cover potential swap losses. The RPAs are carried at fair value throughout their term with all changes in fair value, including those due to a change in the third party’s creditworthiness, recorded in current earnings. The terms of the RPAs, which correspond to the terms of the underlying swaps, range from 3 to 11 years. At June 30, 2017 , the fair value of the Company's guarantee liabilities for RPAs was $139 thousand , and the notional amount of the underlying swaps was $75.3 million . The maximum potential future payment guaranteed by the Company cannot be readily estimated but is dependent upon the fair value of the interest rate swaps at the time of default. |
Pension
Pension | 6 Months Ended |
Jun. 30, 2017 | |
Pension [Abstract] | |
Pension | Pension The amount of net pension cost is shown in the table below: For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands) 2017 2016 2017 2016 Service cost - benefits earned during the period $ 128 $ 138 $ 257 $ 271 Interest cost on projected benefit obligation 973 1,005 1,946 1,972 Expected return on plan assets (1,438 ) (1,439 ) (2,876 ) (2,876 ) Amortization of prior service cost (68 ) (67 ) (136 ) (135 ) Amortization of unrecognized net loss 617 642 1,234 1,293 Net periodic pension cost $ 212 $ 279 $ 425 $ 525 Substantially all benefits accrued under the Company’s defined benefit pension plan were frozen effective January 1, 2005, and the remaining benefits were frozen effective January 1, 2011. During the first six months of 2017 , the Company made no funding contributions to its defined benefit pension plan and made minimal funding contributions to a supplemental executive retirement plan (the CERP), which carries no segregated assets. The Company has no plans to make any further contributions, other than those related to the CERP, during the remainder of 2017 . |
Common Stock
Common Stock | 6 Months Ended |
Jun. 30, 2017 | |
Common Stock [Abstract] | |
Common Stock | Common Stock * Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 12. For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands, except per share data) 2017 2016 2017 2016 Basic income per common share: Net income attributable to Commerce Bancshares, Inc. $ 78,960 $ 69,893 $ 150,464 $ 135,267 Less preferred stock dividends 2,250 2,250 4,500 4,500 Net income available to common shareholders $ 76,710 $ 67,643 145,964 130,767 Less income allocated to nonvested restricted stock 943 940 1,888 1,834 Net income allocated to common stock $ 75,767 $ 66,703 $ 144,076 $ 128,933 Weighted average common shares outstanding 100,555 100,151 100,463 100,247 Basic income per common share $ .75 $ .67 $ 1.43 $ 1.29 Diluted income per common share: Net income available to common shareholders $ 76,710 $ 67,643 $ 145,964 $ 130,767 Less income allocated to nonvested restricted stock 941 938 1,883 1,831 Net income allocated to common stock $ 75,769 $ 66,705 $ 144,081 $ 128,936 Weighted average common shares outstanding 100,555 100,151 100,463 100,247 Net effect of the assumed exercise of stock-based awards - based on the treasury stock method using the average market price for the respective periods 344 261 370 245 Weighted average diluted common shares outstanding 100,899 100,412 100,833 100,492 Diluted income per common share $ .75 $ .66 $ 1.43 $ 1.28 Unexercised stock appreciation rights of 126 thousand and 208 thousand were excluded in the computation of diluted income per common share for the six month periods ended June 30, 2017 and 2016 , respectively, because their inclusion would have been anti-dilutive. * All prior year share and per share amounts in this note have been restated for the 5% common stock dividend distributed in December 2016. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income The table below shows the activity and accumulated balances for components of other comprehensive income. The largest component is the unrealized holding gains and losses on available for sale securities. Unrealized gains and losses on debt securities for which an other-than-temporary impairment (OTTI) has been recorded in current earnings are shown separately below. The other component is the amortization from other comprehensive income of losses associated with pension benefits, which occurs as the losses are included in current net periodic pension cost. Unrealized Gains (Losses) on Securities (1) Pension Loss (2) Total Accumulated Other Comprehensive Income (In thousands) OTTI Other Balance January 1, 2017 $ 2,975 $ 27,328 $ (19,328 ) $ 10,975 Other comprehensive income (loss) before reclassifications (44 ) 53,072 — 53,028 Amounts reclassified from accumulated other comprehensive income 320 (4,293 ) 1,098 (2,875 ) Current period other comprehensive income, before tax 276 48,779 1,098 50,153 Income tax expense (105 ) (18,536 ) (417 ) (19,058 ) Current period other comprehensive income, net of tax 171 30,243 681 31,095 Transfer of unrealized gain on securities for which impairment was not previously recognized 24 (24 ) — — Balance June 30, 2017 $ 3,170 $ 57,547 $ (18,647 ) $ 42,070 Balance January 1, 2016 $ 3,316 $ 49,750 $ (20,596 ) $ 32,470 Other comprehensive income (loss) before reclassifications (911 ) 163,925 — 163,014 Amounts reclassified from accumulated other comprehensive income 270 — 1,158 1,428 Current period other comprehensive income (loss), before tax (641 ) 163,925 1,158 164,442 Income tax (expense) benefit 243 (62,291 ) (440 ) (62,488 ) Current period other comprehensive income (loss), net of tax (398 ) 101,634 718 101,954 Balance June 30, 2016 $ 2,918 $ 151,384 $ (19,878 ) $ 134,424 (1) The pre-tax amounts reclassified from accumulated other comprehensive income are included in "investment securities gains (losses), net" in the consolidated statements of income. (2) The pre-tax amounts reclassified from accumulated other comprehensive income are included in the computation of net periodic pension cost as "amortization of prior service cost" and "amortization of unrecognized net loss" (see Note 6), for inclusion in the consolidated statements of income. |
Segments
Segments | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Segments | Segments The Company segregates financial information for use in assessing its performance and allocating resources among three operating segments: Consumer, Commercial and Wealth. The Consumer segment consists of various consumer loan and deposit products offered through its retail branch network of approximately 180 locations. This segment also includes indirect and other consumer loan financing businesses, along with debit and credit card loan and fee businesses. Residential mortgage origination, sales and servicing functions are included in this consumer segment, but residential mortgage loans retained by the Company are not considered part of this segment. The Commercial segment provides corporate lending, leasing, and international services, along with business and governmental deposit products and commercial cash management services. This segment includes both merchant and commercial bank card products. It also includes the Capital Markets Group which sells fixed income securities and provides safekeeping and accounting services to its business and correspondent bank customers. The Wealth segment provides traditional trust and estate planning, advisory and discretionary investment management, and brokerage services. This segment also provides various loan and deposit related services to its private banking customers. The following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these change are reflected in prior year information presented below. (In thousands) Consumer Commercial Wealth Segment Totals Other/Elimination Consolidated Totals Three Months Ended June 30, 2017 Net interest income $ 69,274 $ 81,718 $ 11,933 $ 162,925 $ 19,882 $ 182,807 Provision for loan losses (10,802 ) 111 24 (10,667 ) (91 ) (10,758 ) Non-interest income 34,459 49,746 38,851 123,056 28 123,084 Investment securities gains, net — — — — 1,651 1,651 Non-interest expense (73,603 ) (74,054 ) (29,446 ) (177,103 ) (7,491 ) (184,594 ) Income before income taxes $ 19,328 $ 57,521 $ 21,362 $ 98,211 $ 13,979 $ 112,190 Six Months Ended June 30, 2017 Net interest income $ 136,628 $ 161,505 $ 23,771 $ 321,904 $ 39,176 $ 361,080 Provision for loan losses (20,464 ) 624 1 (19,839 ) (2,047 ) (21,886 ) Non-interest income 66,017 96,879 76,557 239,453 697 240,150 Investment securities gains, net — — — — 879 879 Non-interest expense (145,126 ) (147,839 ) (59,795 ) (352,760 ) (18,664 ) (371,424 ) Income before income taxes $ 37,055 $ 111,169 $ 40,534 $ 188,758 $ 20,041 $ 208,799 Three Months Ended June 30, 2016 Net interest income $ 67,227 $ 77,249 $ 10,947 $ 155,423 $ 16,406 $ 171,829 Provision for loan losses (8,775 ) 1,468 (9 ) (7,316 ) (1,900 ) (9,216 ) Non-interest income 33,038 48,289 36,618 117,945 (1,375 ) 116,570 Investment securities losses, net — — — — (744 ) (744 ) Non-interest expense (70,522 ) (70,637 ) (28,356 ) (169,515 ) (7,574 ) (177,089 ) Income before income taxes $ 20,968 $ 56,369 $ 19,200 $ 96,537 $ 4,813 $ 101,350 Six Months Ended June 30, 2016 Net interest income $ 133,791 $ 153,266 $ 21,822 $ 308,879 $ 26,725 $ 335,604 Provision for loan losses (17,500 ) 1,487 (115 ) (16,128 ) (2,527 ) (18,655 ) Non-interest income 62,935 99,408 71,020 233,363 2,231 235,594 Investment securities losses, net — — — — (1,739 ) (1,739 ) Non-interest expense (139,526 ) (140,250 ) (56,944 ) (336,720 ) (17,842 ) (354,562 ) Income before income taxes $ 39,700 $ 113,911 $ 35,783 $ 189,394 $ 6,848 $ 196,242 The information presented above was derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. This information is based on internal management accounting procedures and methods, which have been developed to reflect the underlying economics of the businesses. The methodologies are applied in connection with funds transfer pricing and assignment of overhead costs among segments. Funds transfer pricing was used in the determination of net interest income by assigning a standard cost (credit) for funds used (provided) by assets and liabilities based on their maturity, prepayment and/or repricing characteristics. The segment activity, as shown above, includes both direct and allocated items. Amounts in the “Other/Elimination” column include activity not related to the segments, such as that relating to administrative functions, the investment securities portfolio, and the effect of certain expense allocations to the segments. The provision for loan losses in this category contains the difference between net loan charge-offs assigned directly to the segments and the recorded provision for loan loss expense. Included in this category’s net interest income are earnings of the investment portfolio, which are not allocated to a segment. The performance measurement of the operating segments is based on the management structure of the Company and is not necessarily comparable with similar information for any other financial institution. The information is also not necessarily indicative of the segments' financial condition and results of operations if they were independent entities. |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instrument Detail [Abstract] | |
Derivative Instruments | Derivative Instruments The notional amounts of the Company’s derivative instruments are shown in the table below. These contractual amounts, along with other terms of the derivative, are used to determine amounts to be exchanged between counterparties and are not a measure of loss exposure. The Company’s derivative instruments are accounted for as free-standing derivatives, and changes in their fair value are recorded in current earnings. (In thousands) June 30, 2017 December 31, 2016 Interest rate swaps $ 1,693,637 $ 1,685,099 Interest rate caps 32,890 59,379 Credit risk participation agreements 118,081 121,514 Foreign exchange contracts 5,556 4,046 Mortgage loan commitments 29,429 12,429 Mortgage loan forward sale contracts 1,026 6,626 Forward TBA contracts 43,000 15,000 Total notional amount $ 1,923,619 $ 1,904,093 The largest group of notional amounts relate to interest rate swap contracts sold to commercial customers who wish to modify their interest rate sensitivity. These swaps are offset by matching contracts purchased by the Company from other financial dealer institutions. Contracts with dealers that require central clearing are novated to a regulated clearing organization who becomes the Company's legal counterparty. Because of the matching terms of the offsetting contracts, in addition to collateral provisions which mitigate the impact of non-performance risk, changes in fair value subsequent to initial recognition have a minimal effect on earnings. Many of the Company’s interest rate swap contracts with large financial institutions contain contingent features relating to debt ratings or capitalization levels. Under these provisions, if the Company’s debt rating falls below investment grade or if the Company ceases to be “well-capitalized” under risk-based capital guidelines, certain counterparties can require immediate and ongoing collateralization on interest rate swaps in net liability positions or instant settlement of the contracts. The Company maintains debt ratings and capital well above these minimum requirements. The Company also contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps through risk participation agreements. The Company’s risks and responsibilities as guarantor are further discussed in Note 5 on Guarantees. In addition, the Company enters into foreign exchange contracts, which are mainly comprised of contracts to purchase or deliver foreign currencies for customers at specific future dates. Under its program to sell residential mortgage loans in the secondary market, the Company designates certain newly-originated residential mortgage loans as held for sale. Derivative instruments arising from this activity include mortgage loan commitments and forward loan sale commitments. Changes in the fair values of the loan commitments and funded loans prior to sale that are due to changes in interest rates are economically hedged with forward contracts to sell residential mortgage-backed securities in the to-be-announced (TBA) market. These forward TBA contracts are also considered to be derivatives and are settled in cash at the security settlement date. The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Derivative instruments with a positive fair value (asset derivatives) are reported in other assets in the consolidated balance sheets, while derivative instruments with a negative fair value (liability derivatives) are reported in other liabilities in the consolidated balance sheets. Information about the valuation methods used to determine fair value is provided in Note 13 on Fair Value Measurements. Asset Derivatives Liability Derivatives June 30, 2017 Dec. 31, 2016 June 30, 2017 Dec. 31, 2016 (In thousands ) Fair Value Fair Value Derivative instruments: Interest rate swaps $ 10,887 $ 12,987 $ (5,987 ) $ (12,987 ) Interest rate caps 34 78 (34 ) (78 ) Credit risk participation agreements 58 65 (139 ) (156 ) Foreign exchange contracts 39 66 (53 ) (4 ) Mortgage loan commitments 872 355 — (6 ) Mortgage loan forward sale contracts — — — (63 ) Forward TBA contracts 137 15 (34 ) (45 ) Total $ 12,027 $ 13,566 $ (6,247 ) $ (13,339 ) Due to rule changes by the Company's clearing counterparty effective January 2017, collateral previously recorded in "other assets" has been reclassified and offset against the fair values of cleared swaps, such that at June 30, 2017 , the positive fair values of cleared swaps were reduced by $2.4 million and the negative fair values of cleared swaps were reduced by $7.3 million , as reflected in the table above. The effects of derivative instruments on the consolidated statements of income are shown in the table below. Location of Gain or (Loss) Recognized in Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands) 2017 2016 2017 2016 Derivative instruments: Interest rate swaps Other non-interest income $ 456 $ 769 $ 599 $ 2,995 Credit risk participation agreements Other non-interest income 1 (23 ) 11 (58 ) Foreign exchange contracts Other non-interest income (55 ) 57 (75 ) 8 Mortgage loan commitments Loan fees and sales (32 ) 19 522 527 Mortgage loan forward sale contracts Loan fees and sales (4 ) 1 62 — Forward TBA contracts Loan fees and sales (160 ) (397 ) (258 ) (726 ) Total $ 206 $ 426 $ 861 $ 2,746 The following table shows the extent to which assets and liabilities relating to derivative instruments have been offset in the consolidated balance sheets. It also provides information about these instruments which are subject to an enforceable master netting arrangement, irrespective of whether they are offset, and the extent to which the instruments could potentially be offset. Also shown is collateral received or pledged in the form of other financial instruments, which is generally cash or marketable securities. The collateral amounts in this table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus amounts of excess collateral are not shown. Most of the derivatives in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default. The Company is party to master netting arrangements with most of its swap derivative counterparties; however, the Company does not offset derivative assets and liabilities under these arrangements on its consolidated balance sheet. Collateral, usually in the form of marketable securities, is exchanged between the Company and dealer bank counterparties and is generally subject to thresholds and transfer minimums. By contract, it may be sold or re-pledged by the secured party until recalled at a subsequent valuation date by the pledging party. For those swap transactions requiring central clearing, the Company posts cash and securities to its clearing agent. Collateral positions are valued daily, and adjustments to amounts received and pledged by the Company are made as appropriate to maintain proper collateralization for these transactions. Swap derivative transactions with customers are generally secured by rights to non-financial collateral, such as real and personal property, which is not shown in the table below. Gross Amounts Not Offset in the Balance Sheet (In thousands) Gross Amount Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Available for Offset Collateral Received/Pledged Net Amount June 30, 2017 Assets: Derivatives subject to master netting agreements $ 11,088 $ — $ 11,088 $ (514 ) $ — $ 10,574 Derivatives not subject to master netting agreements 939 — 939 Total derivatives 12,027 — 12,027 Liabilities: Derivatives subject to master netting agreements $ 6,066 $ — $ 6,066 $ (514 ) $ (1,710 ) $ 3,842 Derivatives not subject to master netting agreements 181 — 181 Total derivatives 6,247 — 6,247 December 31, 2016 Assets: Derivatives subject to master netting agreements $ 13,111 $ — $ 13,111 $ (3,391 ) $ — $ 9,720 Derivatives not subject to master netting agreements 455 — 455 Total derivatives 13,566 — 13,566 Liabilities: Derivatives subject to master netting agreements $ 13,124 $ — $ 13,124 $ (3,391 ) $ (5,292 ) $ 4,441 Derivatives not subject to master netting agreements 215 — 215 Total derivatives 13,339 — 13,339 |
Resale and Repurchase Agreement
Resale and Repurchase Agreements (Notes) | 6 Months Ended |
Jun. 30, 2017 | |
Resale and Repurchase Agreements [Abstract] | |
Resale and Repurchase Agreements [Text Block] | Resale and Repurchase Agreements The following table shows the extent to which assets and liabilities relating to securities purchased under agreements to resell (resale agreements) and securities sold under agreements to repurchase (repurchase agreements) have been offset in the consolidated balance sheets, in addition to the extent to which they could potentially be offset. Also shown is collateral received or pledged, which consists of marketable securities. The collateral amounts in the table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus amounts of excess collateral are not shown. The agreements in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default. Resale and repurchase agreements are agreements to purchase/sell securities subject to an obligation to resell/repurchase the same or similar securities. They are accounted for as collateralized financing transactions, not as sales and purchases of the securities portfolio. The securities collateral accepted or pledged in resale and repurchase agreements with other financial institutions also may be sold or re-pledged by the secured party, but is usually delivered to and held by third party trustees. The Company generally retains custody of securities pledged for repurchase agreements with customers. The Company is party to several agreements commonly known as collateral swaps. These agreements involve the exchange of collateral under simultaneous repurchase and resale agreements with the same financial institution counterparty. These repurchase and resale agreements have the same principal amounts, inception dates, and maturity dates and have been offset against each other in the consolidated balance sheets, as permitted under the netting provisions of ASC 210-20-45. The collateral swaps totaled $700.0 million at June 30, 2017 and $550.0 million at December 31, 2016 . At June 30, 2017 , the Company had posted collateral of $718.1 million in marketable securities, consisting of agency mortgage-backed bonds and treasuries, and had accepted $724.4 million in investment grade asset-backed, commercial mortgage-backed, and corporate bonds. Gross Amounts Not Offset in the Balance Sheet (In thousands) Gross Amount Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Available for Offset Securities Collateral Received/Pledged Net Amount June 30, 2017 Total resale agreements, subject to master netting arrangements $ 1,325,000 $ (700,000 ) $ 625,000 $ — $ (625,000 ) $ — Total repurchase agreements, subject to master netting arrangements 1,702,934 (700,000 ) 1,002,934 — (1,002,934 ) — December 31, 2016 Total resale agreements, subject to master netting arrangements $ 1,275,000 $ (550,000 ) $ 725,000 $ — $ (725,000 ) $ — Total repurchase agreements, subject to master netting arrangements 2,221,065 (550,000 ) 1,671,065 — (1,671,065 ) — The table below shows the remaining contractual maturities of repurchase agreements outstanding at June 30, 2017 and December 31, 2016 , in addition to the various types of marketable securities that have been pledged as collateral for these borrowings. Remaining Contractual Maturity of the Agreements (In thousands) Overnight and continuous Up to 90 days Greater than 90 days Total June 30, 2017 Repurchase agreements, secured by: U.S. government and federal agency obligations $ 330,173 $ 1,728 $ 450,000 $ 781,901 Government-sponsored enterprise obligations 180,496 — — 180,496 Agency mortgage-backed securities 379,441 70,325 200,000 649,766 Asset-backed securities 10,771 80,000 — 90,771 Total repurchase agreements, gross amount recognized $ 900,881 $ 152,053 $ 650,000 $ 1,702,934 December 31, 2016 Repurchase agreements, secured by: U.S. government and federal agency obligations $ 294,600 $ — $ 300,000 $ 594,600 Government-sponsored enterprise obligations 147,694 — 3,237 150,931 Agency mortgage-backed securities 693,851 24,380 252,473 970,704 Asset-backed securities 474,830 30,000 — 504,830 Total repurchase agreements, gross amount recognized $ 1,610,975 $ 54,380 $ 555,710 $ 2,221,065 |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Share-based Compensation [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The Company issues stock-based compensation in the form of nonvested restricted stock and stock appreciation rights (SARs). Most of the awards are issued during the first quarter of each year. The stock-based compensation expense that has been charged against income was $3.1 million and $2.9 million in the three months ended June 30, 2017 and 2016 , respectively, and $6.2 million and $6.3 million in the six months ended June 30, 2017 and 2016 , respectively. The Company adopted ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting," on January 1, 2017. The Company elected to change its method of accounting for forfeitures, as allowed by this guidance. In 2016 and prior years, accruals of compensation cost were reduced by an estimate of awards not expected to vest and further adjusted when actual forfeitures occurred. In 2017 and subsequent years, forfeitures will be accounted for when they occur and recognized in compensation cost at that time. The effect of this change, which was recognized as a cumulative-effect adjustment on January 1, 2017, increased equity and increased deferred tax assets by approximately $1.3 million . ASU 2016-09 also changed the classification of excess tax benefits and deficiencies arising from stock-based payment transactions, resulting in reductions in income tax expense of $4.5 million in the first quarter of 2017 and $1.6 million in the second quarter of 2017. Nonvested stock awards generally vest in 4 to 7 years and contain restrictions as to transferability, sale, pledging, or assigning, among others, prior to the end of the vesting period. Dividend and voting rights are conferred upon grant. A summary of the status of the Company’s nonvested share awards as of June 30, 2017 , and changes during the six month period then ended, is presented below. Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2017 1,392,451 $34.67 Granted 233,520 57.32 Vested (394,130 ) 30.79 Forfeited (9,388 ) 38.78 Nonvested at June 30, 2017 1,222,453 $40.22 SARs are granted with exercise prices equal to the market price of the Company’s stock at the date of grant. SARs vest ratably over 4 years of continuous service and have 10 -year contractual terms. All SARs must be settled in stock under provisions of the plan. In determining compensation cost, the Black-Scholes option-pricing model is used to estimate the fair value of SARs on date of grant. The current year per share average fair value and the model assumptions are shown in the table below. Weighted per share average fair value at grant date $12.54 Assumptions: Dividend yield 1.6 % Volatility 21.1 % Risk-free interest rate 2.4 % Expected term 7.0 years A summary of SAR activity during the first six months of 2017 is presented below. (Dollars in thousands, except per share data) Rights Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2017 1,324,954 $34.53 Granted 165,592 57.53 Forfeited (4,182 ) 42.82 Expired (797 ) 36.22 Exercised (263,503 ) 30.58 Outstanding at June 30, 2017 1,222,064 $38.47 6.5 years $ 22,583 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain financial and nonfinancial assets and liabilities and to determine fair value disclosures. Various financial instruments such as available for sale and trading securities, certain non-marketable securities relating to private equity activities, and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets and liabilities on a nonrecurring basis, such as mortgage servicing rights and certain other investment securities. These nonrecurring fair value adjustments typically involve lower of cost or fair value accounting or write-downs of individual assets. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, the Company uses various valuation techniques and assumptions when estimating fair value. For accounting disclosure purposes, a three-level valuation hierarchy of fair value measurements has been established. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1 – inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. • Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and inputs that are observable for the assets or liabilities, either directly or indirectly (such as interest rates, yield curves, and prepayment speeds). • Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value. These may be internally developed, using the Company’s best information and assumptions that a market participant would consider. The valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis are described in the Fair Value Measurements note in the Company's 2016 Annual Report on Form 10-K. There have been no significant changes in these methodologies since then, except for a change in the valuation of cleared interest rate swaps as discussed in Note 10. Instruments Measured at Fair Value on a Recurring Basis The table below presents the June 30, 2017 and December 31, 2016 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first six months of 2017 or the year ended December 31, 2016 . Fair Value Measurements Using (In thousands) Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2017 Assets: Residential mortgage loans held for sale $ 14,118 $ — $ 14,118 $ — Available for sale securities: U.S. government and federal agency obligations 912,555 912,555 — — Government-sponsored enterprise obligations 446,285 — 446,285 — State and municipal obligations 1,777,797 — 1,760,972 16,825 Agency mortgage-backed securities 2,620,198 — 2,620,198 — Non-agency mortgage-backed securities 1,066,889 — 1,066,889 — Asset-backed securities 2,250,426 — 2,250,426 — Other debt securities 317,704 — 317,704 — Equity securities 47,847 21,156 26,691 — Trading securities 22,291 — 22,291 — Private equity investments 53,557 — — 53,557 Derivatives * 12,027 — 11,097 930 Assets held in trust for deferred compensation plan 11,893 11,893 — — Total assets 9,553,587 945,604 8,536,671 71,312 Liabilities: Derivatives * 6,247 — 6,108 139 Liabilities held in trust for deferred compensation plan 11,893 11,893 — — Total liabilities $ 18,140 $ 11,893 $ 6,108 $ 139 December 31, 2016 Assets: Residential mortgage loans held for sale $ 9,263 $ — $ 9,263 $ — Available for sale securities: U.S. government and federal agency obligations 920,904 920,904 — — Government-sponsored enterprise obligations 449,998 — 449,998 — State and municipal obligations 1,778,214 — 1,761,532 16,682 Agency mortgage-backed securities 2,685,931 — 2,685,931 — Non-agency mortgage-backed securities 1,055,639 — 1,055,639 — Asset-backed securities 2,381,301 — 2,381,301 — Other debt securities 325,953 — 325,953 — Equity securities 51,263 24,967 26,296 — Trading securities 22,225 — 22,225 — Private equity investments 50,820 — — 50,820 Derivatives * 13,566 — 13,146 420 Assets held in trust for deferred compensation plan 10,261 10,261 — — Total assets 9,755,338 956,132 8,731,284 67,922 Liabilities: Derivatives * 13,339 — 13,177 162 Liabilities held in trust for deferred compensation plan 10,261 10,261 — — Total liabilities $ 23,600 $ 10,261 $ 13,177 $ 162 * The fair value of each class of derivative is shown in Note 10. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (In thousands) State and Municipal Obligations Private Equity Investments Derivatives Total For the three months ended June 30, 2017 Balance March 31, 2017 $ 17,083 $ 52,800 $ 822 $ 70,705 Total gains or losses (realized/unrealized): Included in earnings — 48 (31 ) 17 Included in other comprehensive income * 319 — — 319 Investment securities called (600 ) — — (600 ) Discount accretion 23 — — 23 Purchases of private equity investments — 2,259 — 2,259 Sale/pay down of private equity investments — (1,550 ) — (1,550 ) Balance June 30, 2017 $ 16,825 $ 53,557 $ 791 $ 71,173 Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2017 $ — $ 48 $ 872 $ 920 For the six months ended June 30, 2017 Balance January 1, 2017 $ 16,682 $ 50,820 $ 258 $ 67,760 Total gains or losses (realized/unrealized): Included in earnings — (2,830 ) 533 (2,297 ) Included in other comprehensive income * 710 — — 710 Investment securities called (600 ) — — (600 ) Discount accretion 33 — — 33 Purchases of private equity investments — 7,084 — 7,084 Sale/pay down of private equity investments — (1,550 ) — (1,550 ) Capitalized interest/dividends — 33 — 33 Balance June 30, 2017 $ 16,825 $ 53,557 $ 791 $ 71,173 Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2017 $ — $ (2,655 ) $ 882 $ (1,773 ) For the three months ended June 30, 2016 Balance March 31, 2016 $ 17,209 $ 67,432 $ 506 $ 85,147 Total gains or losses (realized/unrealized): Included in earnings — (2,810 ) (4 ) (2,814 ) Included in other comprehensive income * 401 — — 401 Discount accretion 69 — — 69 Purchases of private equity investments — 575 — 575 Sale/pay down of private equity investments — (2,398 ) — (2,398 ) Capitalized interest/dividends — 14 — 14 Balance June 30, 2016 $ 17,679 $ 62,813 $ 502 $ 80,994 Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2016 $ — $ (2,810 ) $ 767 $ (2,043 ) For the six months ended June 30, 2016 Balance January 1, 2016 $ 17,195 $ 63,032 $ 69 $ 80,296 Total gains or losses (realized/unrealized): Included in earnings — (3,724 ) 469 (3,255 ) Included in other comprehensive income * 502 — — 502 Investment securities called (100 ) — — (100 ) Discount accretion 82 — — 82 Purchases of private equity investments — 5,841 — 5,841 Sale/pay down of private equity investments — (2,398 ) — (2,398 ) Capitalized interest/dividends — 62 — 62 Sale of risk participation agreement — — (36 ) (36 ) Balance June 30, 2016 $ 17,679 $ 62,813 $ 502 $ 80,994 Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2016 $ — $ (3,724 ) $ 732 $ (2,992 ) * Included in "net unrealized gains (losses) on other securities" in the consolidated statements of comprehensive income. Gains and losses included in earnings for the Level 3 assets and liabilities in the previous table are reported in the following line items in the consolidated statements of income: (In thousands) Loan Fees and Sales Other Non-Interest Income Investment Securities Gains (Losses), Net Total For the three months ended June 30, 2017 Total gains or losses included in earnings $ (32 ) $ 1 $ 48 $ 17 Change in unrealized gains or losses relating to assets still held at June 30, 2017 $ 871 $ 1 $ 48 $ 920 For the six months ended June 30, 2017 Total gains or losses included in earnings $ 522 $ 11 $ (2,830 ) $ (2,297 ) Change in unrealized gains or losses relating to assets still held at June 30, 2017 $ 871 $ 11 $ (2,655 ) $ (1,773 ) For the three months ended June 30, 2016 Total gains or losses included in earnings $ 19 $ (23 ) $ (2,810 ) $ (2,814 ) Change in unrealized gains or losses relating to assets still held at June 30, 2016 $ 790 $ (23 ) $ (2,810 ) $ (2,043 ) For the six months ended June 30, 2016 Total gains or losses included in earnings $ 527 $ (58 ) $ (3,724 ) $ (3,255 ) Change in unrealized gains or losses relating to assets still held at June 30, 2016 $ 790 $ (58 ) $ (3,724 ) $ (2,992 ) Level 3 Inputs The Company's significant Level 3 measurements which employ unobservable inputs that are readily quantifiable pertain to auction rate securities (ARS) held by the Bank, investments in portfolio concerns held by the Company's private equity subsidiaries, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $16.8 million at June 30, 2017 , while private equity investments, included in non-marketable securities, totaled $53.6 million . Information about these inputs is presented in the table and discussions below. Quantitative Information about Level 3 Fair Value Measurements Weighted Valuation Technique Unobservable Input Range Average Auction rate securities Discounted cash flow Estimated market recovery period 5 years Estimated market rate 2.8% - 3.1% Private equity investments Market comparable companies EBITDA multiple 4.0 - 5.8 Mortgage loan commitments Discounted cash flow Probability of funding 53.0% - 99.3% 80.2% Embedded servicing value (.2)% - 2.2% 1.0% Instruments Measured at Fair Value on a Nonrecurring Basis For assets measured at fair value on a nonrecurring basis during the first six months of 2017 and 2016 , and still held as of June 30, 2017 and 2016 , the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation inputs used to determine each adjustment, and the carrying value of the related individual assets or portfolios at June 30, 2017 and 2016 . Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Recognized During the Six Months Ended June 30 June 30, 2017 Collateral dependent impaired loans $ 2,044 $ — $ — $ 2,044 $ (550 ) Mortgage servicing rights 3,646 — — 3,646 6 Foreclosed assets 75 — — 75 (58 ) Long-lived assets 1,834 — — 1,834 (343 ) June 30, 2016 Collateral dependent impaired loans $ 5,001 $ — $ — $ 5,001 $ (1,491 ) Mortgage servicing rights 2,191 — — 2,191 (2 ) Foreclosed assets 28 — — 28 (10 ) Long-lived assets 1,871 — — 1,871 (956 ) |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair Value Of Financial Instruments | Fair Value of Financial Instruments The carrying amounts and estimated fair values of financial instruments held by the Company are set forth below. Fair value estimates are made at a specific point in time based on relevant market information. They do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for many of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, risk characteristics and economic conditions. These estimates are subjective, involve uncertainties, and cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The methods and inputs used in the estimation of fair value for the financial instruments in the table below are discussed in the Fair Value Measurements and the Fair Value of Financial Instruments notes in the Company's 2016 Annual Report on Form 10-K. There have been no significant changes in these methods and inputs since December 31, 2016 , except as mentioned in Note 10 on Derivatives. The estimated fair values of the Company’s financial instruments and the classification of their fair value measurement within the valuation hierarchy are as follows: Fair Value Hierarchy Level June 30, 2017 December 31, 2016 (In thousands) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial Assets Loans: Business Level 3 $ 4,852,408 $ 4,866,125 $ 4,776,365 $ 4,787,469 Real estate - construction and land Level 3 848,152 859,171 791,236 800,426 Real estate - business Level 3 2,727,349 2,740,841 2,643,374 2,658,093 Real estate - personal Level 3 2,009,203 2,022,671 2,010,397 2,005,227 Consumer Level 3 2,038,514 2,021,537 1,990,801 1,974,784 Revolving home equity Level 3 403,387 404,177 413,634 414,499 Consumer credit card Level 3 740,865 754,763 776,465 794,856 Overdrafts Level 3 6,714 6,714 10,464 10,464 Loans held for sale Level 2 22,002 22,002 14,456 14,456 Investment securities: Available for sale Level 1 933,711 933,711 945,871 945,871 Available for sale Level 2 8,489,165 8,489,165 8,686,650 8,686,650 Available for sale Level 3 16,825 16,825 16,682 16,682 Trading Level 2 22,291 22,291 22,225 22,225 Non-marketable Level 3 102,388 102,388 99,558 99,558 Federal funds sold Level 1 16,520 16,520 15,470 15,470 Securities purchased under agreements to resell Level 3 625,000 628,148 725,000 728,179 Interest earning deposits with banks Level 1 80,860 80,860 272,275 272,275 Cash and due from banks Level 1 433,747 433,747 494,690 494,690 Derivative instruments Level 2 11,097 11,097 13,146 13,146 Derivative instruments Level 3 930 930 420 420 Assets held in trust for deferred compensation plan Level 1 11,893 11,893 10,261 10,261 Financial Liabilities Non-interest bearing deposits Level 1 $ 7,314,506 $ 7,314,506 $ 7,429,398 $ 7,429,398 Savings, interest checking and money market deposits Level 1 11,427,615 11,427,615 11,430,789 11,430,789 Time open and certificates of deposit Level 3 2,083,541 2,075,563 2,240,908 2,235,218 Federal funds purchased Level 1 253,510 253,510 52,840 52,840 Securities sold under agreements to repurchase Level 3 1,002,934 1,003,183 1,671,065 1,671,227 Other borrowings Level 3 101,903 102,907 102,049 104,298 Derivative instruments Level 2 6,108 6,108 13,177 13,177 Derivative instruments Level 3 139 139 162 162 Liabilities held in trust for deferred compensation plan Level 1 11,893 11,893 10,261 10,261 |
Legal and Regulatory Proceeding
Legal and Regulatory Proceedings (Notes) | 6 Months Ended |
Jun. 30, 2017 | |
Legal Proceedings [Abstract] | |
Legal Matters and Contingencies [Text Block] | Legal and Regulatory Proceedings On August 15, 2014, a customer filed a class action complaint against the Bank in the Circuit Court, Jackson County, Missouri. The case is Cassandra Warren, et al v. Commerce Bank (Case No. 1416-CV19197). In the case, the customer alleges violation of the Missouri usury statute in connection with the Bank charging overdraft fees in connection with point-of-sale/debit and automated-teller machine cards. The class was certified and consists of Missouri customers of the Bank who may have been similarly affected. The case has been stayed pending the final outcome of a similar case in which a ruling has been made in favor of the bank defendant. The Company believes that the stay will remain in effect until any appeals in the similar case have run their course. The Company believes the Warren complaint lacks merit and will defend itself vigorously. The amount of any ultimate exposure cannot be determined with certainty at this time. The Company has been in ongoing discussions with the U.S. Department of Labor concerning an investigation involving ERISA regulations related to a managed trust account. The investigation concluded in a non-material settlement between the Company and the U.S. Department of Labor during July 2017. The Company has various other legal proceedings pending at June 30, 2017 , arising in the normal course of business. While some matters pending against the Company specify damages claimed by plaintiffs, others do not seek a specified amount of damages or are at very early stages of the legal process. The Company records a loss accrual for all legal and regulatory matters for which it deems a loss is probable and can be reasonably estimated. Some matters, which are in the early stages, have not yet progressed to the point where a loss amount can be determined to be probable and estimable. |
Loans And Allowance For Loan 24
Loans And Allowance For Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Loans And Allowance For Loan Losses [Abstract] | |
Summary Classification Of Held To Maturity Loan Portfolio | Major classifications within the Company’s held for investment loan portfolio at June 30, 2017 and December 31, 2016 are as follows: (In thousands) June 30, 2017 December 31, 2016 Commercial: Business $ 4,852,408 $ 4,776,365 Real estate – construction and land 848,152 791,236 Real estate – business 2,727,349 2,643,374 Personal Banking: Real estate – personal 2,009,203 2,010,397 Consumer 2,038,514 1,990,801 Revolving home equity 403,387 413,634 Consumer credit card 740,865 776,465 Overdrafts 6,714 10,464 Total loans $ 13,626,592 $ 13,412,736 |
Summary Of Activity In The Allowance For Loan Losses | A summary of the activity in the allowance for loan losses during the three and six months ended June 30, 2017 and 2016 , respectively, follows: For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands) Commercial Personal Banking Total Commercial Personal Banking Total Balance at beginning of period $ 92,951 $ 64,881 $ 157,832 $ 91,361 $ 64,571 $ 155,932 Provision (111 ) 10,869 10,758 1,002 20,884 21,886 Deductions: Loans charged off 531 13,415 13,946 1,077 25,745 26,822 Less recoveries on loans 430 2,758 3,188 1,453 5,383 6,836 Net loan charge-offs (recoveries) 101 10,657 10,758 (376 ) 20,362 19,986 Balance June 30, 2017 $ 92,739 $ 65,093 $ 157,832 $ 92,739 $ 65,093 $ 157,832 Balance at beginning of period $ 86,027 $ 66,105 $ 152,132 $ 82,086 $ 69,446 $ 151,532 Provision 1,569 7,647 9,216 5,720 12,935 18,655 Deductions: Loans charged off 661 11,984 12,645 2,174 23,761 25,935 Less recoveries on loans 2,263 2,866 5,129 3,566 6,014 9,580 Net loan charge-offs (recoveries) (1,602 ) 9,118 7,516 (1,392 ) 17,747 16,355 Balance June 30, 2016 $ 89,198 $ 64,634 $ 153,832 $ 89,198 $ 64,634 $ 153,832 |
Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology | The following table shows the balance in the allowance for loan losses and the related loan balance at June 30, 2017 and December 31, 2016 , disaggregated on the basis of impairment methodology. Impaired loans evaluated under ASC 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans discussed below, which are deemed to have similar risk characteristics and are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20. Impaired Loans All Other Loans (In thousands) Allowance for Loan Losses Loans Outstanding Allowance for Loan Losses Loans Outstanding June 30, 2017 Commercial $ 1,454 $ 44,937 $ 91,285 $ 8,382,972 Personal Banking 1,433 20,221 63,660 5,178,462 Total $ 2,887 $ 65,158 $ 154,945 $ 13,561,434 December 31, 2016 Commercial $ 1,817 $ 44,795 $ 89,544 $ 8,166,180 Personal Banking 1,292 19,737 63,279 5,182,024 Total $ 3,109 $ 64,532 $ 152,823 $ 13,348,204 |
Investment In Impaired Loans | The table below shows the Company’s investment in impaired loans at June 30, 2017 and December 31, 2016 . These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section on page 14. (In thousands) June 30, 2017 Dec. 31, 2016 Non-accrual loans $ 13,362 $ 14,283 Restructured loans (accruing) 51,796 50,249 Total impaired loans $ 65,158 $ 64,532 |
Additional Information About Impaired Loans Held | The following table provides additional information about impaired loans held by the Company at June 30, 2017 and December 31, 2016 , segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided. (In thousands) Recorded Investment Unpaid Principal Balance Related Allowance June 30, 2017 With no related allowance recorded: Business $ 5,566 $ 9,000 $ — Real estate – construction and land 537 752 — $ 6,103 $ 9,752 $ — With an allowance recorded: Business $ 29,226 $ 29,821 $ 914 Real estate – construction and land 65 68 3 Real estate – business 9,543 10,961 537 Real estate – personal 6,286 9,258 570 Consumer 6,242 6,280 259 Revolving home equity 582 582 10 Consumer credit card 7,111 7,111 594 $ 59,055 $ 64,081 $ 2,887 Total $ 65,158 $ 73,833 $ 2,887 December 31, 2016 With no related allowance recorded: Business $ 7,375 $ 10,470 $ — Real estate – construction and land 557 752 — $ 7,932 $ 11,222 $ — With an allowance recorded: Business $ 29,924 $ 31,795 $ 1,318 Real estate – construction and land 69 72 3 Real estate – business 6,870 8,072 496 Real estate – personal 6,394 9,199 642 Consumer 5,281 5,281 57 Revolving home equity 584 584 1 Consumer credit card 7,478 7,478 592 $ 56,600 $ 62,481 $ 3,109 Total $ 64,532 $ 73,703 $ 3,109 |
Total Average Impaired Loans | Total average impaired loans for the three and six month periods ended June 30, 2017 and 2016 , respectively, are shown in the table below. (In thousands) Commercial Personal Banking Total Average Impaired Loans: For the three months ended June 30, 2017 Non-accrual loans $ 9,867 $ 4,539 $ 14,406 Restructured loans (accruing) 34,765 15,780 50,545 Total $ 44,632 $ 20,319 $ 64,951 For the six months ended June 30, 2017 Non-accrual loans $ 10,238 $ 4,027 $ 14,265 Restructured loans (accruing) 33,333 15,991 49,324 Total $ 43,571 $ 20,018 $ 63,589 For the three months ended June 30, 2016 Non-accrual loans $ 22,098 $ 4,461 $ 26,559 Restructured loans (accruing) 28,775 17,297 46,072 Total $ 50,873 $ 21,758 $ 72,631 For the six months ended June 30, 2016 Non-accrual loans $ 21,551 $ 4,542 $ 26,093 Restructured loans (accruing) 27,977 17,499 45,476 Total $ 49,528 $ 22,041 $ 71,569 |
Interest Income Recognized On Impaired Loans | The table below shows interest income recognized during the three and six month periods ended June 30, 2017 and 2016 , respectively, for impaired loans held at the end of each period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section on page 14. For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands) 2017 2016 2017 2016 Interest income recognized on impaired loans: Business $ 319 $ 236 $ 637 $ 472 Real estate – construction and land 1 3 2 5 Real estate – business 88 56 175 112 Real estate – personal 36 42 71 84 Consumer 80 89 159 177 Revolving home equity 6 4 12 7 Consumer credit card 145 159 289 318 Total $ 675 $ 589 $ 1,345 $ 1,175 |
Aging Information On Past Due And Nonaccrual Loans | The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at June 30, 2017 and December 31, 2016 . (In thousands) Current or Less Than 30 Days Past Due 30 – 89 Days Past Due 90 Days Past Due and Still Accruing Non-accrual Total June 30, 2017 Commercial: Business $ 4,842,945 $ 2,761 $ 372 $ 6,330 $ 4,852,408 Real estate – construction and land 843,289 4,319 — 544 848,152 Real estate – business 2,721,612 3,904 — 1,833 2,727,349 Personal Banking: Real estate – personal 1,997,661 6,060 1,978 3,504 2,009,203 Consumer 2,012,634 22,526 2,203 1,151 2,038,514 Revolving home equity 400,306 2,154 927 — 403,387 Consumer credit card 722,604 9,111 9,150 — 740,865 Overdrafts 6,414 300 — — 6,714 Total $ 13,547,465 $ 51,135 $ 14,630 $ 13,362 $ 13,626,592 December 31, 2016 Commercial: Business $ 4,763,274 $ 3,735 $ 674 $ 8,682 $ 4,776,365 Real estate – construction and land 789,633 1,039 — 564 791,236 Real estate – business 2,639,586 2,154 — 1,634 2,643,374 Personal Banking: Real estate – personal 1,995,724 9,162 2,108 3,403 2,010,397 Consumer 1,957,358 29,783 3,660 — 1,990,801 Revolving home equity 411,483 1,032 1,119 — 413,634 Consumer credit card 757,443 10,187 8,835 — 776,465 Overdrafts 10,014 450 — — 10,464 Total $ 13,324,515 $ 57,542 $ 16,396 $ 14,283 $ 13,412,736 |
Credit Quality Of Commercial Loan Portfolio | The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is applied to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment. Commercial Loans (In thousands) Business Real Estate-Construction Real Estate- Business Total June 30, 2017 Pass $ 4,617,838 $ 843,151 $ 2,629,544 $ 8,090,533 Special mention 180,380 1,754 44,279 226,413 Substandard 47,860 2,703 51,693 102,256 Non-accrual 6,330 544 1,833 8,707 Total $ 4,852,408 $ 848,152 $ 2,727,349 $ 8,427,909 December 31, 2016 Pass $ 4,607,553 $ 788,778 $ 2,543,348 $ 7,939,679 Special mention 116,642 722 45,479 162,843 Substandard 43,488 1,172 52,913 97,573 Non-accrual 8,682 564 1,634 10,880 Total $ 4,776,365 $ 791,236 $ 2,643,374 $ 8,210,975 |
Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding | For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at June 30, 2017 and December 31, 2016 by FICO score. Personal Banking Loans % of Loan Category Real Estate - Personal Consumer Revolving Home Equity Consumer Credit Card June 30, 2017 FICO score: Under 600 1.2 % 3.2 % 1.0 % 4.9 % 600 - 659 2.7 5.7 1.8 14.8 660 - 719 10.6 18.5 9.5 34.8 720 - 779 26.1 26.9 21.8 25.8 780 and over 59.4 45.7 65.9 19.7 Total 100.0 % 100.0 % 100.0 % 100.0 % December 31, 2016 FICO score: Under 600 1.3 % 3.4 % 1.0 % 4.9 % 600 - 659 2.6 6.4 1.8 15.5 660 - 719 10.4 19.7 9.7 34.9 720 - 779 25.4 26.3 21.1 25.1 780 and over 60.3 44.2 66.4 19.6 Total 100.0 % 100.0 % 100.0 % 100.0 % |
Outstanding Balance Of Loans Classified As Troubled Debt Restructurings | The following table shows the outstanding balances of loans classified as troubled debt restructurings at June 30, 2017 , in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal. (In thousands) June 30, 2017 Balance 90 days past due at any time during previous 12 months Commercial: Business $ 34,088 $ — Real estate - construction and land 537 — Real estate - business 7,710 — Personal Banking: Real estate - personal 3,995 353 Consumer 5,149 50 Revolving home equity 582 47 Consumer credit card 7,111 649 Total restructured loans $ 59,172 $ 1,099 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investment Securities [Abstract] | |
Investment Securities, At Fair Value | nvestment securities, at fair value, consisted of the following at June 30, 2017 and December 31, 2016 . (In thousands) June 30, 2017 December 31, 2016 Available for sale $ 9,439,701 $ 9,649,203 Trading 22,291 22,225 Non-marketable 102,388 99,558 Total investment securities $ 9,564,380 $ 9,770,986 |
Summary Of Available For Sale Investment Securities By Maturity Groupings | A summary of the available for sale investment securities by maturity groupings as of June 30, 2017 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, GNMA and FDIC, in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral. (In thousands) Amortized Cost Fair Value U.S. government and federal agency obligations: Within 1 year $ 58,665 $ 58,829 After 1 but within 5 years 499,601 502,990 After 5 but within 10 years 318,318 318,212 After 10 years 35,444 32,524 Total U.S. government and federal agency obligations 912,028 912,555 Government-sponsored enterprise obligations: Within 1 year 98,069 98,206 After 1 but within 5 years 336,302 335,723 After 10 years 12,493 12,356 Total government-sponsored enterprise obligations 446,864 446,285 State and municipal obligations: Within 1 year 171,936 172,890 After 1 but within 5 years 643,200 654,145 After 5 but within 10 years 879,036 900,292 After 10 years 50,896 50,470 Total state and municipal obligations 1,745,068 1,777,797 Mortgage and asset-backed securities: Agency mortgage-backed securities 2,604,217 2,620,198 Non-agency mortgage-backed securities 1,063,236 1,066,889 Asset-backed securities 2,249,399 2,250,426 Total mortgage and asset-backed securities 5,916,852 5,937,513 Other debt securities: Within 1 year 13,387 13,389 After 1 but within 5 years 176,199 177,812 After 5 but within 10 years 125,910 126,503 Total other debt securities 315,496 317,704 Equity securities 5,463 47,847 Total available for sale investment securities $ 9,341,771 $ 9,439,701 |
Available For Sale Securities Unrealized Gains And Losses By Security Type | For securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in accumulated other comprehensive income, by security type. (In thousands) Amortized Cost Gross Gross Fair Value June 30, 2017 U.S. government and federal agency obligations $ 912,028 $ 5,575 $ (5,048 ) $ 912,555 Government-sponsored enterprise obligations 446,864 892 (1,471 ) 446,285 State and municipal obligations 1,745,068 34,717 (1,988 ) 1,777,797 Mortgage and asset-backed securities: Agency mortgage-backed securities 2,604,217 29,780 (13,799 ) 2,620,198 Non-agency mortgage-backed securities 1,063,236 8,063 (4,410 ) 1,066,889 Asset-backed securities 2,249,399 5,725 (4,698 ) 2,250,426 Total mortgage and asset-backed securities 5,916,852 43,568 (22,907 ) 5,937,513 Other debt securities 315,496 2,745 (537 ) 317,704 Equity securities 5,463 42,384 — 47,847 Total $ 9,341,771 $ 129,881 $ (31,951 ) $ 9,439,701 December 31, 2016 U.S. government and federal agency obligations $ 919,904 $ 7,312 $ (6,312 ) $ 920,904 Government-sponsored enterprise obligations 450,448 1,126 (1,576 ) 449,998 State and municipal obligations 1,778,684 12,223 (12,693 ) 1,778,214 Mortgage and asset-backed securities: Agency mortgage-backed securities 2,674,964 31,610 (20,643 ) 2,685,931 Non-agency mortgage-backed securities 1,054,446 7,686 (6,493 ) 1,055,639 Asset-backed securities 2,389,176 3,338 (11,213 ) 2,381,301 Total mortgage and asset-backed securities 6,118,586 42,634 (38,349 ) 6,122,871 Other debt securities 327,030 935 (2,012 ) 325,953 Equity securities 5,678 45,585 — 51,263 Total $ 9,600,330 $ 109,815 $ (60,942 ) $ 9,649,203 |
Cash Flow Model Inputs Used To Calculate Credit Losses | ignificant inputs to the cash flow models used to calculate the credit losses on these securities at June 30, 2017 included the following: Significant Inputs Range Prepayment CPR 4% - 25% Projected cumulative default 14% - 51% Credit support 0% - 38% Loss severity 16% - 63% |
Changes In Recorded Credit Losses | The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings on all available for sale debt securities. For the Six Months Ended June 30 (In thousands) 2017 2016 Cumulative OTTI credit losses at January 1 $ 14,080 $ 14,129 Credit losses on debt securities for which impairment was not previously recognized 46 — Credit losses on debt securities for which impairment was previously recognized 274 270 Increase in expected cash flows that are recognized over remaining life of security (146 ) (37 ) Cumulative OTTI credit losses at June 30 $ 14,254 $ 14,362 |
Securities With Unrealized Losses And Length Of Impairment Period | Securities with unrealized losses recorded in accumulated other comprehensive income are shown in the table below, along with the length of the impairment period. Less than 12 months 12 months or longer Total (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2017 U.S. government and federal agency obligations $ 145,884 $ 5,048 $ — $ — $ 145,884 $ 5,048 Government-sponsored enterprise obligations 181,682 1,471 — — 181,682 1,471 State and municipal obligations 168,613 1,365 13,761 623 182,374 1,988 Mortgage and asset-backed securities: Agency mortgage-backed securities 959,777 13,795 1,720 4 961,497 13,799 Non-agency mortgage-backed securities 503,709 4,165 47,189 245 550,898 4,410 Asset-backed securities 795,526 2,606 234,619 2,092 1,030,145 4,698 Total mortgage and asset-backed securities 2,259,012 20,566 283,528 2,341 2,542,540 22,907 Other debt securities 65,547 500 1,463 37 67,010 537 Total $ 2,820,738 $ 28,950 $ 298,752 $ 3,001 $ 3,119,490 $ 31,951 December 31, 2016 U.S. government and federal agency obligations $ 349,538 $ 2,823 $ 32,208 $ 3,489 $ 381,746 $ 6,312 Government-sponsored enterprise obligations 190,441 1,576 — — 190,441 1,576 State and municipal obligations 700,779 12,164 15,195 529 715,974 12,693 Mortgage and asset-backed securities: Agency mortgage-backed securities 1,147,416 20,638 2,150 5 1,149,566 20,643 Non-agency mortgage-backed securities 688,131 6,373 34,946 120 723,077 6,493 Asset-backed securities 780,209 5,277 358,778 5,936 1,138,987 11,213 Total mortgage and asset-backed securities 2,615,756 32,288 395,874 6,061 3,011,630 38,349 Other debt securities 179,639 1,986 975 26 180,614 2,012 Total $ 4,036,153 $ 50,837 $ 444,252 $ 10,105 $ 4,480,405 $ 60,942 |
Proceeds From Sales Of Securities And Components Of Investment Securities Gains And Losses | The following tables present proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings. For the Six Months Ended June 30 (In thousands) 2017 2016 Proceeds from sales of securities: Available for sale $ 4,972 $ — Non-marketable 1,580 2,071 Total proceeds $ 6,552 $ 2,071 Investment securities gains (losses), net: Available for sale: Losses realized on called bonds $ (254 ) $ — Losses realized on sales (22 ) — Gains realized on donations 4,315 — Other-than-temporary impairment recognized on debt securities (320 ) (270 ) Non-marketable: Gains realized on sales 642 2,260 Losses realized on sales (652 ) — Fair value adjustments, net (2,830 ) (3,729 ) Total gains (losses), net $ 879 $ (1,739 ) |
Goodwill And Other Intangible26
Goodwill And Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule Of Intangible Assets With Estimable Useful Lives | The following table presents information about the Company's intangible assets which have estimable useful lives. June 30, 2017 December 31, 2016 (In thousands) Gross Carrying Amount Accumulated Amortization Valuation Allowance Net Amount Gross Carrying Amount Accumulated Amortization Valuation Allowance Net Amount Amortizable intangible assets: Core deposit premium $ 31,270 $ (27,914 ) $ — $ 3,356 $ 31,270 $ (27,429 ) $ — $ 3,841 Mortgage servicing rights 6,637 (2,975 ) (16 ) 3,646 5,672 (2,782 ) (22 ) 2,868 Total $ 37,907 $ (30,889 ) $ (16 ) $ 7,002 $ 36,942 $ (30,211 ) $ (22 ) $ 6,709 |
Schedule of Estimated Annual Amortization Expense | he following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of June 30, 2017 . The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions. (In thousands) 2017 $ 1,141 2018 1,091 2019 917 2020 765 2021 651 |
Schedule Of Changes In CArrying Amount Of Goodwill And Net Other Intangible Assets | Changes in the carrying amount of goodwill and net other intangible assets for the six month period ended June 30, 2017 is as follows: (In thousands) Goodwill Core Deposit Premium Mortgage Servicing Rights Balance January 1, 2017 $ 138,921 $ 3,841 $ 2,868 Originations — — 965 Amortization — (485 ) (193 ) Impairment reversal — — 6 Balance June 30, 2017 $ 138,921 $ 3,356 $ 3,646 |
Schedule Of Goodwill Allocated By Operating Segments | Goodwill allocated to the Company’s operating segments at June 30, 2017 and December 31, 2016 is shown below. (In thousands) Consumer segment $ 70,721 Commercial segment 67,454 Wealth segment 746 Total goodwill $ 138,921 |
Pension (Tables)
Pension (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Pension [Abstract] | |
Net Pension Cost | The amount of net pension cost is shown in the table below: For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands) 2017 2016 2017 2016 Service cost - benefits earned during the period $ 128 $ 138 $ 257 $ 271 Interest cost on projected benefit obligation 973 1,005 1,946 1,972 Expected return on plan assets (1,438 ) (1,439 ) (2,876 ) (2,876 ) Amortization of prior service cost (68 ) (67 ) (136 ) (135 ) Amortization of unrecognized net loss 617 642 1,234 1,293 Net periodic pension cost $ 212 $ 279 $ 425 $ 525 |
Common Stock (Tables)
Common Stock (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Common Stock [Abstract] | |
Summary Of Components Used To Calculate Basic And Diluted Income Per Share | Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 12. For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands, except per share data) 2017 2016 2017 2016 Basic income per common share: Net income attributable to Commerce Bancshares, Inc. $ 78,960 $ 69,893 $ 150,464 $ 135,267 Less preferred stock dividends 2,250 2,250 4,500 4,500 Net income available to common shareholders $ 76,710 $ 67,643 145,964 130,767 Less income allocated to nonvested restricted stock 943 940 1,888 1,834 Net income allocated to common stock $ 75,767 $ 66,703 $ 144,076 $ 128,933 Weighted average common shares outstanding 100,555 100,151 100,463 100,247 Basic income per common share $ .75 $ .67 $ 1.43 $ 1.29 Diluted income per common share: Net income available to common shareholders $ 76,710 $ 67,643 $ 145,964 $ 130,767 Less income allocated to nonvested restricted stock 941 938 1,883 1,831 Net income allocated to common stock $ 75,769 $ 66,705 $ 144,081 $ 128,936 Weighted average common shares outstanding 100,555 100,151 100,463 100,247 Net effect of the assumed exercise of stock-based awards - based on the treasury stock method using the average market price for the respective periods 344 261 370 245 Weighted average diluted common shares outstanding 100,899 100,412 100,833 100,492 Diluted income per common share $ .75 $ .66 $ 1.43 $ 1.28 |
Accumulated Other Comprehensi29
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income | The table below shows the activity and accumulated balances for components of other comprehensive income. The largest component is the unrealized holding gains and losses on available for sale securities. Unrealized gains and losses on debt securities for which an other-than-temporary impairment (OTTI) has been recorded in current earnings are shown separately below. The other component is the amortization from other comprehensive income of losses associated with pension benefits, which occurs as the losses are included in current net periodic pension cost. Unrealized Gains (Losses) on Securities (1) Pension Loss (2) Total Accumulated Other Comprehensive Income (In thousands) OTTI Other Balance January 1, 2017 $ 2,975 $ 27,328 $ (19,328 ) $ 10,975 Other comprehensive income (loss) before reclassifications (44 ) 53,072 — 53,028 Amounts reclassified from accumulated other comprehensive income 320 (4,293 ) 1,098 (2,875 ) Current period other comprehensive income, before tax 276 48,779 1,098 50,153 Income tax expense (105 ) (18,536 ) (417 ) (19,058 ) Current period other comprehensive income, net of tax 171 30,243 681 31,095 Transfer of unrealized gain on securities for which impairment was not previously recognized 24 (24 ) — — Balance June 30, 2017 $ 3,170 $ 57,547 $ (18,647 ) $ 42,070 Balance January 1, 2016 $ 3,316 $ 49,750 $ (20,596 ) $ 32,470 Other comprehensive income (loss) before reclassifications (911 ) 163,925 — 163,014 Amounts reclassified from accumulated other comprehensive income 270 — 1,158 1,428 Current period other comprehensive income (loss), before tax (641 ) 163,925 1,158 164,442 Income tax (expense) benefit 243 (62,291 ) (440 ) (62,488 ) Current period other comprehensive income (loss), net of tax (398 ) 101,634 718 101,954 Balance June 30, 2016 $ 2,918 $ 151,384 $ (19,878 ) $ 134,424 |
Segments (Tables)
Segments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule Of Financial Information By Segment | he following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these change are reflected in prior year information presented below. (In thousands) Consumer Commercial Wealth Segment Totals Other/Elimination Consolidated Totals Three Months Ended June 30, 2017 Net interest income $ 69,274 $ 81,718 $ 11,933 $ 162,925 $ 19,882 $ 182,807 Provision for loan losses (10,802 ) 111 24 (10,667 ) (91 ) (10,758 ) Non-interest income 34,459 49,746 38,851 123,056 28 123,084 Investment securities gains, net — — — — 1,651 1,651 Non-interest expense (73,603 ) (74,054 ) (29,446 ) (177,103 ) (7,491 ) (184,594 ) Income before income taxes $ 19,328 $ 57,521 $ 21,362 $ 98,211 $ 13,979 $ 112,190 Six Months Ended June 30, 2017 Net interest income $ 136,628 $ 161,505 $ 23,771 $ 321,904 $ 39,176 $ 361,080 Provision for loan losses (20,464 ) 624 1 (19,839 ) (2,047 ) (21,886 ) Non-interest income 66,017 96,879 76,557 239,453 697 240,150 Investment securities gains, net — — — — 879 879 Non-interest expense (145,126 ) (147,839 ) (59,795 ) (352,760 ) (18,664 ) (371,424 ) Income before income taxes $ 37,055 $ 111,169 $ 40,534 $ 188,758 $ 20,041 $ 208,799 Three Months Ended June 30, 2016 Net interest income $ 67,227 $ 77,249 $ 10,947 $ 155,423 $ 16,406 $ 171,829 Provision for loan losses (8,775 ) 1,468 (9 ) (7,316 ) (1,900 ) (9,216 ) Non-interest income 33,038 48,289 36,618 117,945 (1,375 ) 116,570 Investment securities losses, net — — — — (744 ) (744 ) Non-interest expense (70,522 ) (70,637 ) (28,356 ) (169,515 ) (7,574 ) (177,089 ) Income before income taxes $ 20,968 $ 56,369 $ 19,200 $ 96,537 $ 4,813 $ 101,350 Six Months Ended June 30, 2016 Net interest income $ 133,791 $ 153,266 $ 21,822 $ 308,879 $ 26,725 $ 335,604 Provision for loan losses (17,500 ) 1,487 (115 ) (16,128 ) (2,527 ) (18,655 ) Non-interest income 62,935 99,408 71,020 233,363 2,231 235,594 Investment securities losses, net — — — — (1,739 ) (1,739 ) Non-interest expense (139,526 ) (140,250 ) (56,944 ) (336,720 ) (17,842 ) (354,562 ) Income before income taxes $ 39,700 $ 113,911 $ 35,783 $ 189,394 $ 6,848 $ 196,242 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instrument Detail [Abstract] | |
Schedule Of Notional Amounts Of Derivative Instruments | (In thousands) June 30, 2017 December 31, 2016 Interest rate swaps $ 1,693,637 $ 1,685,099 Interest rate caps 32,890 59,379 Credit risk participation agreements 118,081 121,514 Foreign exchange contracts 5,556 4,046 Mortgage loan commitments 29,429 12,429 Mortgage loan forward sale contracts 1,026 6,626 Forward TBA contracts 43,000 15,000 Total notional amount $ 1,923,619 $ 1,904,093 |
Schedule Of Fair Values Of Derivative Instruments | The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Derivative instruments with a positive fair value (asset derivatives) are reported in other assets in the consolidated balance sheets, while derivative instruments with a negative fair value (liability derivatives) are reported in other liabilities in the consolidated balance sheets. Information about the valuation methods used to determine fair value is provided in Note 13 on Fair Value Measurements. Asset Derivatives Liability Derivatives June 30, 2017 Dec. 31, 2016 June 30, 2017 Dec. 31, 2016 (In thousands ) Fair Value Fair Value Derivative instruments: Interest rate swaps $ 10,887 $ 12,987 $ (5,987 ) $ (12,987 ) Interest rate caps 34 78 (34 ) (78 ) Credit risk participation agreements 58 65 (139 ) (156 ) Foreign exchange contracts 39 66 (53 ) (4 ) Mortgage loan commitments 872 355 — (6 ) Mortgage loan forward sale contracts — — — (63 ) Forward TBA contracts 137 15 (34 ) (45 ) Total $ 12,027 $ 13,566 $ (6,247 ) $ (13,339 ) |
Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income | The effects of derivative instruments on the consolidated statements of income are shown in the table below. Location of Gain or (Loss) Recognized in Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives For the Three Months Ended June 30 For the Six Months Ended June 30 (In thousands) 2017 2016 2017 2016 Derivative instruments: Interest rate swaps Other non-interest income $ 456 $ 769 $ 599 $ 2,995 Credit risk participation agreements Other non-interest income 1 (23 ) 11 (58 ) Foreign exchange contracts Other non-interest income (55 ) 57 (75 ) 8 Mortgage loan commitments Loan fees and sales (32 ) 19 522 527 Mortgage loan forward sale contracts Loan fees and sales (4 ) 1 62 — Forward TBA contracts Loan fees and sales (160 ) (397 ) (258 ) (726 ) Total $ 206 $ 426 $ 861 $ 2,746 |
Balance Sheet Offsetting, Derivatives [Table Text Block] | Gross Amounts Not Offset in the Balance Sheet (In thousands) Gross Amount Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Available for Offset Collateral Received/Pledged Net Amount June 30, 2017 Assets: Derivatives subject to master netting agreements $ 11,088 $ — $ 11,088 $ (514 ) $ — $ 10,574 Derivatives not subject to master netting agreements 939 — 939 Total derivatives 12,027 — 12,027 Liabilities: Derivatives subject to master netting agreements $ 6,066 $ — $ 6,066 $ (514 ) $ (1,710 ) $ 3,842 Derivatives not subject to master netting agreements 181 — 181 Total derivatives 6,247 — 6,247 December 31, 2016 Assets: Derivatives subject to master netting agreements $ 13,111 $ — $ 13,111 $ (3,391 ) $ — $ 9,720 Derivatives not subject to master netting agreements 455 — 455 Total derivatives 13,566 — 13,566 Liabilities: Derivatives subject to master netting agreements $ 13,124 $ — $ 13,124 $ (3,391 ) $ (5,292 ) $ 4,441 Derivatives not subject to master netting agreements 215 — 215 Total derivatives 13,339 — 13,339 |
Resale and Repurchase Agreeme32
Resale and Repurchase Agreements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Resale and Repurchase Agreements [Abstract] | |
Resale and Repurchase Agreements [Table Text Block] | Gross Amounts Not Offset in the Balance Sheet (In thousands) Gross Amount Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Available for Offset Securities Collateral Received/Pledged Net Amount June 30, 2017 Total resale agreements, subject to master netting arrangements $ 1,325,000 $ (700,000 ) $ 625,000 $ — $ (625,000 ) $ — Total repurchase agreements, subject to master netting arrangements 1,702,934 (700,000 ) 1,002,934 — (1,002,934 ) — December 31, 2016 Total resale agreements, subject to master netting arrangements $ 1,275,000 $ (550,000 ) $ 725,000 $ — $ (725,000 ) $ — Total repurchase agreements, subject to master netting arrangements 2,221,065 (550,000 ) 1,671,065 — (1,671,065 ) — |
Schedule of Underlying Assets of Repurchase Agreements [Table Text Block] | Remaining Contractual Maturity of the Agreements (In thousands) Overnight and continuous Up to 90 days Greater than 90 days Total June 30, 2017 Repurchase agreements, secured by: U.S. government and federal agency obligations $ 330,173 $ 1,728 $ 450,000 $ 781,901 Government-sponsored enterprise obligations 180,496 — — 180,496 Agency mortgage-backed securities 379,441 70,325 200,000 649,766 Asset-backed securities 10,771 80,000 — 90,771 Total repurchase agreements, gross amount recognized $ 900,881 $ 152,053 $ 650,000 $ 1,702,934 December 31, 2016 Repurchase agreements, secured by: U.S. government and federal agency obligations $ 294,600 $ — $ 300,000 $ 594,600 Government-sponsored enterprise obligations 147,694 — 3,237 150,931 Agency mortgage-backed securities 693,851 24,380 252,473 970,704 Asset-backed securities 474,830 30,000 — 504,830 Total repurchase agreements, gross amount recognized $ 1,610,975 $ 54,380 $ 555,710 $ 2,221,065 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Share-based Compensation [Abstract] | |
Summary Of The Status Of Nonvested Share Awards | A summary of the status of the Company’s nonvested share awards as of June 30, 2017 , and changes during the six month period then ended, is presented below. Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2017 1,392,451 $34.67 Granted 233,520 57.32 Vested (394,130 ) 30.79 Forfeited (9,388 ) 38.78 Nonvested at June 30, 2017 1,222,453 $40.22 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The current year per share average fair value and the model assumptions are shown in the table below. Weighted per share average fair value at grant date $12.54 Assumptions: Dividend yield 1.6 % Volatility 21.1 % Risk-free interest rate 2.4 % Expected term 7.0 years |
Summary Of SAR Activity | A summary of SAR activity during the first six months of 2017 is presented below. (Dollars in thousands, except per share data) Rights Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2017 1,324,954 $34.53 Granted 165,592 57.53 Forfeited (4,182 ) 42.82 Expired (797 ) 36.22 Exercised (263,503 ) 30.58 Outstanding at June 30, 2017 1,222,064 $38.47 6.5 years $ 22,583 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Measurements [Abstract] | |
Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis | The table below presents the June 30, 2017 and December 31, 2016 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first six months of 2017 or the year ended December 31, 2016 . Fair Value Measurements Using (In thousands) Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2017 Assets: Residential mortgage loans held for sale $ 14,118 $ — $ 14,118 $ — Available for sale securities: U.S. government and federal agency obligations 912,555 912,555 — — Government-sponsored enterprise obligations 446,285 — 446,285 — State and municipal obligations 1,777,797 — 1,760,972 16,825 Agency mortgage-backed securities 2,620,198 — 2,620,198 — Non-agency mortgage-backed securities 1,066,889 — 1,066,889 — Asset-backed securities 2,250,426 — 2,250,426 — Other debt securities 317,704 — 317,704 — Equity securities 47,847 21,156 26,691 — Trading securities 22,291 — 22,291 — Private equity investments 53,557 — — 53,557 Derivatives * 12,027 — 11,097 930 Assets held in trust for deferred compensation plan 11,893 11,893 — — Total assets 9,553,587 945,604 8,536,671 71,312 Liabilities: Derivatives * 6,247 — 6,108 139 Liabilities held in trust for deferred compensation plan 11,893 11,893 — — Total liabilities $ 18,140 $ 11,893 $ 6,108 $ 139 December 31, 2016 Assets: Residential mortgage loans held for sale $ 9,263 $ — $ 9,263 $ — Available for sale securities: U.S. government and federal agency obligations 920,904 920,904 — — Government-sponsored enterprise obligations 449,998 — 449,998 — State and municipal obligations 1,778,214 — 1,761,532 16,682 Agency mortgage-backed securities 2,685,931 — 2,685,931 — Non-agency mortgage-backed securities 1,055,639 — 1,055,639 — Asset-backed securities 2,381,301 — 2,381,301 — Other debt securities 325,953 — 325,953 — Equity securities 51,263 24,967 26,296 — Trading securities 22,225 — 22,225 — Private equity investments 50,820 — — 50,820 Derivatives * 13,566 — 13,146 420 Assets held in trust for deferred compensation plan 10,261 10,261 — — Total assets 9,755,338 956,132 8,731,284 67,922 Liabilities: Derivatives * 13,339 — 13,177 162 Liabilities held in trust for deferred compensation plan 10,261 10,261 — — Total liabilities $ 23,600 $ 10,261 $ 13,177 $ 162 |
Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis | The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (In thousands) State and Municipal Obligations Private Equity Investments Derivatives Total For the three months ended June 30, 2017 Balance March 31, 2017 $ 17,083 $ 52,800 $ 822 $ 70,705 Total gains or losses (realized/unrealized): Included in earnings — 48 (31 ) 17 Included in other comprehensive income * 319 — — 319 Investment securities called (600 ) — — (600 ) Discount accretion 23 — — 23 Purchases of private equity investments — 2,259 — 2,259 Sale/pay down of private equity investments — (1,550 ) — (1,550 ) Balance June 30, 2017 $ 16,825 $ 53,557 $ 791 $ 71,173 Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2017 $ — $ 48 $ 872 $ 920 For the six months ended June 30, 2017 Balance January 1, 2017 $ 16,682 $ 50,820 $ 258 $ 67,760 Total gains or losses (realized/unrealized): Included in earnings — (2,830 ) 533 (2,297 ) Included in other comprehensive income * 710 — — 710 Investment securities called (600 ) — — (600 ) Discount accretion 33 — — 33 Purchases of private equity investments — 7,084 — 7,084 Sale/pay down of private equity investments — (1,550 ) — (1,550 ) Capitalized interest/dividends — 33 — 33 Balance June 30, 2017 $ 16,825 $ 53,557 $ 791 $ 71,173 Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2017 $ — $ (2,655 ) $ 882 $ (1,773 ) For the three months ended June 30, 2016 Balance March 31, 2016 $ 17,209 $ 67,432 $ 506 $ 85,147 Total gains or losses (realized/unrealized): Included in earnings — (2,810 ) (4 ) (2,814 ) Included in other comprehensive income * 401 — — 401 Discount accretion 69 — — 69 Purchases of private equity investments — 575 — 575 Sale/pay down of private equity investments — (2,398 ) — (2,398 ) Capitalized interest/dividends — 14 — 14 Balance June 30, 2016 $ 17,679 $ 62,813 $ 502 $ 80,994 Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2016 $ — $ (2,810 ) $ 767 $ (2,043 ) For the six months ended June 30, 2016 Balance January 1, 2016 $ 17,195 $ 63,032 $ 69 $ 80,296 Total gains or losses (realized/unrealized): Included in earnings — (3,724 ) 469 (3,255 ) Included in other comprehensive income * 502 — — 502 Investment securities called (100 ) — — (100 ) Discount accretion 82 — — 82 Purchases of private equity investments — 5,841 — 5,841 Sale/pay down of private equity investments — (2,398 ) — (2,398 ) Capitalized interest/dividends — 62 — 62 Sale of risk participation agreement — — (36 ) (36 ) Balance June 30, 2016 $ 17,679 $ 62,813 $ 502 $ 80,994 Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2016 $ — $ (3,724 ) $ 732 $ (2,992 ) |
Summary Of Gains And Losses On Level 3 Assets And Liabilities | Gains and losses included in earnings for the Level 3 assets and liabilities in the previous table are reported in the following line items in the consolidated statements of income: (In thousands) Loan Fees and Sales Other Non-Interest Income Investment Securities Gains (Losses), Net Total For the three months ended June 30, 2017 Total gains or losses included in earnings $ (32 ) $ 1 $ 48 $ 17 Change in unrealized gains or losses relating to assets still held at June 30, 2017 $ 871 $ 1 $ 48 $ 920 For the six months ended June 30, 2017 Total gains or losses included in earnings $ 522 $ 11 $ (2,830 ) $ (2,297 ) Change in unrealized gains or losses relating to assets still held at June 30, 2017 $ 871 $ 11 $ (2,655 ) $ (1,773 ) For the three months ended June 30, 2016 Total gains or losses included in earnings $ 19 $ (23 ) $ (2,810 ) $ (2,814 ) Change in unrealized gains or losses relating to assets still held at June 30, 2016 $ 790 $ (23 ) $ (2,810 ) $ (2,043 ) For the six months ended June 30, 2016 Total gains or losses included in earnings $ 527 $ (58 ) $ (3,724 ) $ (3,255 ) Change in unrealized gains or losses relating to assets still held at June 30, 2016 $ 790 $ (58 ) $ (3,724 ) $ (2,992 ) |
Summary Of Quantitative Information About Level 3 Fair Value Measurements | s The Company's significant Level 3 measurements which employ unobservable inputs that are readily quantifiable pertain to auction rate securities (ARS) held by the Bank, investments in portfolio concerns held by the Company's private equity subsidiaries, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $16.8 million at June 30, 2017 , while private equity investments, included in non-marketable securities, totaled $53.6 million . Information about these inputs is presented in the table and discussions below. Quantitative Information about Level 3 Fair Value Measurements Weighted Valuation Technique Unobservable Input Range Average Auction rate securities Discounted cash flow Estimated market recovery period 5 years Estimated market rate 2.8% - 3.1% Private equity investments Market comparable companies EBITDA multiple 4.0 - 5.8 Mortgage loan commitments Discounted cash flow Probability of funding 53.0% - 99.3% 80.2% Embedded servicing value (.2)% - 2.2% 1.0% |
Schedule Of Fair Value Disclosures Measured On Nonrecurring Basis [Table Text Block] | s For assets measured at fair value on a nonrecurring basis during the first six months of 2017 and 2016 , and still held as of June 30, 2017 and 2016 , the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation inputs used to determine each adjustment, and the carrying value of the related individual assets or portfolios at June 30, 2017 and 2016 . Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Recognized During the Six Months Ended June 30 June 30, 2017 Collateral dependent impaired loans $ 2,044 $ — $ — $ 2,044 $ (550 ) Mortgage servicing rights 3,646 — — 3,646 6 Foreclosed assets 75 — — 75 (58 ) Long-lived assets 1,834 — — 1,834 (343 ) June 30, 2016 Collateral dependent impaired loans $ 5,001 $ — $ — $ 5,001 $ (1,491 ) Mortgage servicing rights 2,191 — — 2,191 (2 ) Foreclosed assets 28 — — 28 (10 ) Long-lived assets 1,871 — — 1,871 (956 ) |
Fair Value Of Financial Instr35
Fair Value Of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair value of financial instruments [Table Text Block] | Fair Value Hierarchy Level June 30, 2017 December 31, 2016 (In thousands) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial Assets Loans: Business Level 3 $ 4,852,408 $ 4,866,125 $ 4,776,365 $ 4,787,469 Real estate - construction and land Level 3 848,152 859,171 791,236 800,426 Real estate - business Level 3 2,727,349 2,740,841 2,643,374 2,658,093 Real estate - personal Level 3 2,009,203 2,022,671 2,010,397 2,005,227 Consumer Level 3 2,038,514 2,021,537 1,990,801 1,974,784 Revolving home equity Level 3 403,387 404,177 413,634 414,499 Consumer credit card Level 3 740,865 754,763 776,465 794,856 Overdrafts Level 3 6,714 6,714 10,464 10,464 Loans held for sale Level 2 22,002 22,002 14,456 14,456 Investment securities: Available for sale Level 1 933,711 933,711 945,871 945,871 Available for sale Level 2 8,489,165 8,489,165 8,686,650 8,686,650 Available for sale Level 3 16,825 16,825 16,682 16,682 Trading Level 2 22,291 22,291 22,225 22,225 Non-marketable Level 3 102,388 102,388 99,558 99,558 Federal funds sold Level 1 16,520 16,520 15,470 15,470 Securities purchased under agreements to resell Level 3 625,000 628,148 725,000 728,179 Interest earning deposits with banks Level 1 80,860 80,860 272,275 272,275 Cash and due from banks Level 1 433,747 433,747 494,690 494,690 Derivative instruments Level 2 11,097 11,097 13,146 13,146 Derivative instruments Level 3 930 930 420 420 Assets held in trust for deferred compensation plan Level 1 11,893 11,893 10,261 10,261 Financial Liabilities Non-interest bearing deposits Level 1 $ 7,314,506 $ 7,314,506 $ 7,429,398 $ 7,429,398 Savings, interest checking and money market deposits Level 1 11,427,615 11,427,615 11,430,789 11,430,789 Time open and certificates of deposit Level 3 2,083,541 2,075,563 2,240,908 2,235,218 Federal funds purchased Level 1 253,510 253,510 52,840 52,840 Securities sold under agreements to repurchase Level 3 1,002,934 1,003,183 1,671,065 1,671,227 Other borrowings Level 3 101,903 102,907 102,049 104,298 Derivative instruments Level 2 6,108 6,108 13,177 13,177 Derivative instruments Level 3 139 139 162 162 Liabilities held in trust for deferred compensation plan Level 1 11,893 11,893 10,261 10,261 |
Loans And Allowance For Loan 36
Loans And Allowance For Loan Losses (Narrative) (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Loans And Allowance For Loan Losses [Abstract] | ||
Loans pledged at the Federal Home Loan Bank as collateral for borrowings and letters of credit obtained to secure public deposits | $ 3,900,000,000 | |
Loans Pledged to the Federal Reserve Bank as collateral for discount window borrowings | 1,600,000,000 | |
Credit Quality Personal Real Estate Loans Excluded | $ 227,400,000 | $ 237,200,000 |
Credit quality personal banking loan table percentage loans excluded | 4.40% | |
Troubled Debt Restructured Loans | $ 59,200,000 | |
Accruing Restructured Loans | 51,796,000 | 50,249,000 |
Restructured Loans NonAccrual | 7,400,000 | |
Restructured commercial loans performing under their modified terms | 36,800,000 | |
Aggregate restructured credit card loans held | 7,100,000 | |
Restructured Loans Due to Bankruptcy Proceeding | $ 7,600,000 | |
Period after which loans are deemed in default (in days) | 90 days | |
Effect on Interest Income Resulting From Modification to Credit Card Loans | $ (862,000) | |
Commitments to lend additional funds to customers with restructured loans | 3,600,000 | |
Fair Value of Personal Real Estate Loans Held for Sale | 14,100,000 | |
Unpaid Principal Balance on Personal Real Estate Loans Held for Sale | 13,600,000 | |
Student Loans Held for Sale, Lower of Cost or Fair Value | 7,900,000 | |
Non-accrual HFS loans | 0 | |
Loans HFS 90 Days Past Due and Still Accruing | 0 | |
Foreclosed real estate | 515,000 | 366,000 |
Personal property acquired in repossession | $ 2,400,000 | $ 2,200,000 |
Loans And Allowance For Loan 37
Loans And Allowance For Loan Losses (Summary Classification Of Held To Maturity Loan Portfolio) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | $ 13,626,592 | $ 13,412,736 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 4,852,408 | 4,776,365 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 848,152 | 791,236 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 2,727,349 | 2,643,374 |
Real Estate - Personal [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 2,009,203 | 2,010,397 |
Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 2,038,514 | 1,990,801 |
Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 403,387 | 413,634 |
Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 740,865 | 776,465 |
Overdrafts [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | $ 6,714 | $ 10,464 |
Loans And Allowance For Loan 38
Loans And Allowance For Loan Losses (Summary Of Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | $ 157,832 | $ 152,132 | $ 155,932 | $ 151,532 |
Provision | 10,758 | 9,216 | 21,886 | 18,655 |
Loans charged off | 13,946 | 12,645 | 26,822 | 25,935 |
Less recoveries on loans | 3,188 | 5,129 | 6,836 | 9,580 |
Net loan charge-offs (recoveries) | 10,758 | 7,516 | 19,986 | 16,355 |
Balance at end of period | 157,832 | 153,832 | 157,832 | 153,832 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | 92,951 | 86,027 | 91,361 | 82,086 |
Provision | (111) | 1,569 | 1,002 | 5,720 |
Loans charged off | 531 | 661 | 1,077 | 2,174 |
Less recoveries on loans | 430 | 2,263 | 1,453 | 3,566 |
Net loan charge-offs (recoveries) | 101 | (1,602) | (376) | (1,392) |
Balance at end of period | 92,739 | 89,198 | 92,739 | 89,198 |
Personal Banking Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | 64,881 | 66,105 | 64,571 | 69,446 |
Provision | 10,869 | 7,647 | 20,884 | 12,935 |
Loans charged off | 13,415 | 11,984 | 25,745 | 23,761 |
Less recoveries on loans | 2,758 | 2,866 | 5,383 | 6,014 |
Net loan charge-offs (recoveries) | 10,657 | 9,118 | 20,362 | 17,747 |
Balance at end of period | $ 65,093 | $ 64,634 | $ 65,093 | $ 64,634 |
Loans And Allowance For Loan 39
Loans And Allowance For Loan Losses (Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Allowance For Loan Losses [Line Items] | ||
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment | $ 13,561,434 | $ 13,348,204 |
Impaired Financing Receivable, Recorded Investment | 65,158 | 64,532 |
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance | 154,945 | 152,823 |
Impaired Financing Receivable, Related Allowance | 2,887 | 3,109 |
Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment | 8,382,972 | 8,166,180 |
Impaired Financing Receivable, Recorded Investment | 44,937 | 44,795 |
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance | 91,285 | 89,544 |
Impaired Financing Receivable, Related Allowance | 1,454 | 1,817 |
Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment | 5,178,462 | 5,182,024 |
Impaired Financing Receivable, Recorded Investment | 20,221 | 19,737 |
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance | 63,660 | 63,279 |
Impaired Financing Receivable, Related Allowance | $ 1,433 | $ 1,292 |
Loans And Allowance For Loan 40
Loans And Allowance For Loan Losses (Investment In Impaired Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Allowance For Loan Losses [Abstract] | ||
Non-accrual loans | $ 13,362 | $ 14,283 |
Restructured loans (accruing) | 51,796 | 50,249 |
Total impaired loans | $ 65,158 | $ 64,532 |
Loans And Allowance For Loan 41
Loans And Allowance For Loan Losses (Additional Information About Impaired Loans Held) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $ 6,103 | $ 7,932 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 9,752 | 11,222 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 59,055 | 56,600 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 64,081 | 62,481 |
Impaired Financing Receivable, Related Allowance | 2,887 | 3,109 |
Impaired Financing Receivable, Recorded Investment | 65,158 | 64,532 |
Impaired Financing Receivable, Unpaid Principal Balance | 73,833 | 73,703 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 5,566 | 7,375 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 9,000 | 10,470 |
Impaired Financing Receivable, with No Related Allowance, Allowance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 29,226 | 29,924 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 29,821 | 31,795 |
Impaired Financing Receivable, Related Allowance | 914 | 1,318 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 537 | 557 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 752 | 752 |
Impaired Financing Receivable, with No Related Allowance, Allowance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 65 | 69 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 68 | 72 |
Impaired Financing Receivable, Related Allowance | 3 | 3 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 9,543 | 6,870 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 10,961 | 8,072 |
Impaired Financing Receivable, Related Allowance | 537 | 496 |
Real Estate - Personal [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 6,286 | 6,394 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 9,258 | 9,199 |
Impaired Financing Receivable, Related Allowance | 570 | 642 |
Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 6,242 | 5,281 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 6,280 | 5,281 |
Impaired Financing Receivable, Related Allowance | 259 | 57 |
Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 582 | 584 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 582 | 584 |
Impaired Financing Receivable, Related Allowance | 10 | 1 |
Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 7,111 | 7,478 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 7,111 | 7,478 |
Impaired Financing Receivable, Related Allowance | $ 594 | $ 592 |
Loans And Allowance For Loan 42
Loans And Allowance For Loan Losses (Total Average Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Loans And Allowance For Loan Losses [Line Items] | ||||
Non-accrual loans | $ 14,406 | $ 26,559 | $ 14,265 | $ 26,093 |
Restructured loans (accruing) | 50,545 | 46,072 | 49,324 | 45,476 |
Total | 64,951 | 72,631 | 63,589 | 71,569 |
Commercial Portfolio Segment [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Non-accrual loans | 9,867 | 22,098 | 10,238 | 21,551 |
Restructured loans (accruing) | 34,765 | 28,775 | 33,333 | 27,977 |
Total | 44,632 | 50,873 | 43,571 | 49,528 |
Personal Banking Portfolio Segment [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Non-accrual loans | 4,539 | 4,461 | 4,027 | 4,542 |
Restructured loans (accruing) | 15,780 | 17,297 | 15,991 | 17,499 |
Total | $ 20,319 | $ 21,758 | $ 20,018 | $ 22,041 |
Loans And Allowance For Loan 43
Loans And Allowance For Loan Losses (Interest Income Recognized on Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Loans And Allowance For Loan Losses [Line Items] | ||||
Interest income recognized | $ 675 | $ 589 | $ 1,345 | $ 1,175 |
Business [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Interest income recognized | 319 | 236 | 637 | 472 |
Real Estate - Construction And Land [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Interest income recognized | 1 | 3 | 2 | 5 |
Real Estate - Business [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Interest income recognized | 88 | 56 | 175 | 112 |
Real Estate - Personal [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Interest income recognized | 36 | 42 | 71 | 84 |
Consumer [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Interest income recognized | 80 | 89 | 159 | 177 |
Revolving Home Equity [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Interest income recognized | 6 | 4 | 12 | 7 |
Consumer Credit Card [Member] | ||||
Loans And Allowance For Loan Losses [Line Items] | ||||
Interest income recognized | $ 145 | $ 159 | $ 289 | $ 318 |
Loans And Allowance For Loan 44
Loans And Allowance For Loan Losses (Aging Information On Past Due And Accruing Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | $ 13,547,465 | $ 13,324,515 |
30 - 89 Days Past Due | 51,135 | 57,542 |
90 Days Past Due and Still Accruing | 14,630 | 16,396 |
Non-accrual loans | 13,362 | 14,283 |
Total | 13,626,592 | 13,412,736 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 4,852,408 | 4,776,365 |
Business [Member] | Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 4,842,945 | 4,763,274 |
30 - 89 Days Past Due | 2,761 | 3,735 |
90 Days Past Due and Still Accruing | 372 | 674 |
Non-accrual loans | 6,330 | 8,682 |
Total | 4,852,408 | 4,776,365 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 848,152 | 791,236 |
Real Estate - Construction And Land [Member] | Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 843,289 | 789,633 |
30 - 89 Days Past Due | 4,319 | 1,039 |
90 Days Past Due and Still Accruing | 0 | 0 |
Non-accrual loans | 544 | 564 |
Total | 848,152 | 791,236 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 2,727,349 | 2,643,374 |
Real Estate - Business [Member] | Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 2,721,612 | 2,639,586 |
30 - 89 Days Past Due | 3,904 | 2,154 |
90 Days Past Due and Still Accruing | 0 | 0 |
Non-accrual loans | 1,833 | 1,634 |
Total | 2,727,349 | 2,643,374 |
Real Estate - Personal [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 2,009,203 | 2,010,397 |
Real Estate - Personal [Member] | Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 1,997,661 | 1,995,724 |
30 - 89 Days Past Due | 6,060 | 9,162 |
90 Days Past Due and Still Accruing | 1,978 | 2,108 |
Non-accrual loans | 3,504 | 3,403 |
Total | 2,009,203 | 2,010,397 |
Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 2,038,514 | 1,990,801 |
Consumer [Member] | Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 2,012,634 | 1,957,358 |
30 - 89 Days Past Due | 22,526 | 29,783 |
90 Days Past Due and Still Accruing | 2,203 | 3,660 |
Non-accrual loans | 1,151 | 0 |
Total | 2,038,514 | 1,990,801 |
Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 403,387 | 413,634 |
Revolving Home Equity [Member] | Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 400,306 | 411,483 |
30 - 89 Days Past Due | 2,154 | 1,032 |
90 Days Past Due and Still Accruing | 927 | 1,119 |
Non-accrual loans | 0 | 0 |
Total | 403,387 | 413,634 |
Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 740,865 | 776,465 |
Consumer Credit Card [Member] | Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 722,604 | 757,443 |
30 - 89 Days Past Due | 9,111 | 10,187 |
90 Days Past Due and Still Accruing | 9,150 | 8,835 |
Non-accrual loans | 0 | 0 |
Total | 740,865 | 776,465 |
Overdrafts [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 6,714 | 10,464 |
Overdrafts [Member] | Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 6,414 | 10,014 |
30 - 89 Days Past Due | 300 | 450 |
90 Days Past Due and Still Accruing | 0 | 0 |
Non-accrual loans | 0 | 0 |
Total | $ 6,714 | $ 10,464 |
Loans And Allowance For Loan 45
Loans And Allowance For Loan Losses (Credit Quality Of Commercial Loan Portfolio) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | $ 13,626,592 | $ 13,412,736 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 4,852,408 | 4,776,365 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 848,152 | 791,236 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 2,727,349 | 2,643,374 |
Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 8,427,909 | 8,210,975 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 8,090,533 | 7,939,679 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 226,413 | 162,843 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 102,256 | 97,573 |
Commercial Portfolio Segment [Member] | Non-Accrual [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 8,707 | 10,880 |
Commercial Portfolio Segment [Member] | Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 4,852,408 | 4,776,365 |
Commercial Portfolio Segment [Member] | Business [Member] | Pass [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 4,617,838 | 4,607,553 |
Commercial Portfolio Segment [Member] | Business [Member] | Special Mention [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 180,380 | 116,642 |
Commercial Portfolio Segment [Member] | Business [Member] | Substandard [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 47,860 | 43,488 |
Commercial Portfolio Segment [Member] | Business [Member] | Non-Accrual [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 6,330 | 8,682 |
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 848,152 | 791,236 |
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | Pass [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 843,151 | 788,778 |
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | Special Mention [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 1,754 | 722 |
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | Substandard [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 2,703 | 1,172 |
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | Non-Accrual [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 544 | 564 |
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans | 2,727,349 | 2,643,374 |
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | Pass [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 2,629,544 | 2,543,348 |
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | Special Mention [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 44,279 | 45,479 |
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | Substandard [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 51,693 | 52,913 |
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | Non-Accrual [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | $ 1,833 | $ 1,634 |
Loans And Allowance For Loan 46
Loans And Allowance For Loan Losses (Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding ) (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Allowance For Loan Losses [Line Items] | ||
Credit Quality Personal Real Estate Loans Excluded | $ 227.4 | $ 237.2 |
Credit quality personal banking loan table percentage loans excluded | 4.40% | |
Real Estate - Personal [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 100.00% | 100.00% |
Real Estate - Personal [Member] | Fico Under Six Hundred [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 1.20% | 1.30% |
Real Estate - Personal [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 2.70% | 2.60% |
Real Estate - Personal [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 10.60% | 10.40% |
Real Estate - Personal [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 26.10% | 25.40% |
Real Estate - Personal [Member] | Fico Seven Hundred Eighty And Above [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 59.40% | 60.30% |
Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 100.00% | 100.00% |
Consumer [Member] | Fico Under Six Hundred [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 3.20% | 3.40% |
Consumer [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 5.70% | 6.40% |
Consumer [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 18.50% | 19.70% |
Consumer [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 26.90% | 26.30% |
Consumer [Member] | Fico Seven Hundred Eighty And Above [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 45.70% | 44.20% |
Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 100.00% | 100.00% |
Revolving Home Equity [Member] | Fico Under Six Hundred [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 1.00% | 1.00% |
Revolving Home Equity [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 1.80% | 1.80% |
Revolving Home Equity [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 9.50% | 9.70% |
Revolving Home Equity [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 21.80% | 21.10% |
Revolving Home Equity [Member] | Fico Seven Hundred Eighty And Above [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 65.90% | 66.40% |
Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 100.00% | 100.00% |
Consumer Credit Card [Member] | Fico Under Six Hundred [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 4.90% | 4.90% |
Consumer Credit Card [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 14.80% | 15.50% |
Consumer Credit Card [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 34.80% | 34.90% |
Consumer Credit Card [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 25.80% | 25.10% |
Consumer Credit Card [Member] | Fico Seven Hundred Eighty And Above [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 19.70% | 19.60% |
Loans And Allowance For Loan 47
Loans And Allowance For Loan Losses (Outstanding Balance Of Loans Classified As Troubled Debt Restructurings) (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Loans And Allowance For Loan Losses [Line Items] | |
Restructured loans | $ 59,172 |
Balance 90 days past due at any time during previous 12 months | 1,099 |
Commercial Portfolio Segment [Member] | Business [Member] | |
Loans And Allowance For Loan Losses [Line Items] | |
Restructured loans | 34,088 |
Balance 90 days past due at any time during previous 12 months | 0 |
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | |
Loans And Allowance For Loan Losses [Line Items] | |
Restructured loans | 537 |
Balance 90 days past due at any time during previous 12 months | 0 |
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | |
Loans And Allowance For Loan Losses [Line Items] | |
Restructured loans | 7,710 |
Balance 90 days past due at any time during previous 12 months | 0 |
Personal Banking Portfolio Segment [Member] | Real Estate - Personal [Member] | |
Loans And Allowance For Loan Losses [Line Items] | |
Restructured loans | 3,995 |
Balance 90 days past due at any time during previous 12 months | 353 |
Personal Banking Portfolio Segment [Member] | Consumer [Member] | |
Loans And Allowance For Loan Losses [Line Items] | |
Restructured loans | 5,149 |
Balance 90 days past due at any time during previous 12 months | 50 |
Personal Banking Portfolio Segment [Member] | Revolving Home Equity [Member] | |
Loans And Allowance For Loan Losses [Line Items] | |
Restructured loans | 582 |
Balance 90 days past due at any time during previous 12 months | 47 |
Personal Banking Portfolio Segment [Member] | Consumer Credit Card [Member] | |
Loans And Allowance For Loan Losses [Line Items] | |
Restructured loans | 7,111 |
Balance 90 days past due at any time during previous 12 months | $ 649 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Thousands | 6 Months Ended | |||
Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2015USD ($) | |
Investment [Line Items] | ||||
Non-marketable FHLB and FRB stock held for debt and regulatory purposes | $ 47,100 | $ 46,900 | ||
Non-marketable private equity investments held | 55,000 | 52,300 | ||
U.S. Treasury inflation-protected securities held, at fair value | $ 432,000 | |||
Percentage decrease requiring a review for impairment | 20.00% | |||
Fair value of securities on other-than-temporary impairment watch list | $ 68,900 | 79,600 | ||
Credit-related portion of impairments included in earnings, for securities on watch list | 14,254 | 14,080 | $ 14,362 | $ 14,129 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 31,951 | 60,942 | ||
Available-for-sale Securities | 9,439,701 | 9,649,203 | ||
Securities pledged as collateral | 3,900,000 | |||
Securities pledged as collateral and may be sold or re-pledged | $ 719,800 | |||
Number of investments in a single issuer that exceed 10% of stockholder's equity | 0 | |||
No investment in a single issuer exceeds this percentage of stockholder's equity | 10.00% | |||
State And Municipal Obligations [Member] | ||||
Investment [Line Items] | ||||
Auction rate securities held at fair value | $ 16,800 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1,988 | 12,693 | ||
Unrealized Losses on Auction Rate Securities | 230 | |||
Available-for-sale Securities | $ 1,777,797 | 1,778,214 | ||
State and municipal obligation portfolio, excluding auction rate securities, as a percentage of total available for sale securities | 18.80% | |||
Equity Securities [Member] | ||||
Investment [Line Items] | ||||
Common stock held by the holding company | $ 47,700 | |||
Available-for-sale Securities | 47,847 | 51,263 | ||
Non-Agency Mortgage-Backed Securities [Member] | ||||
Investment [Line Items] | ||||
Fair value of securities on other-than-temporary impairment watch list | 30,300 | |||
Credit-related portion of impairments included in earnings, for securities on watch list | 14,300 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 4,410 | 6,493 | ||
Available-for-sale Securities | $ 1,066,889 | $ 1,055,639 |
Investment Securities (Investme
Investment Securities (Investment Securities, At Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Investment Securities [Abstract] | ||
Available for sale securities | $ 9,439,701 | $ 9,649,203 |
Trading securities | 22,291 | 22,225 |
Non-marketable | 102,388 | 99,558 |
Total investment securities | $ 9,564,380 | $ 9,770,986 |
Investment Securities (Summary
Investment Securities (Summary Of Available For Sale Investment Securities By Maturity Groupings) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Investment [Line Items] | ||
Amortized Cost | $ 9,341,771 | $ 9,600,330 |
Fair Value | 9,439,701 | 9,649,203 |
U.S. Government And Federal Agency Obligations [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 912,028 | 919,904 |
Fair Value | 912,555 | 920,904 |
U.S. Government And Federal Agency Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 58,665 | |
Fair Value | 58,829 | |
U.S. Government And Federal Agency Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 499,601 | |
Fair Value | 502,990 | |
U.S. Government And Federal Agency Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 318,318 | |
Fair Value | 318,212 | |
U.S. Government And Federal Agency Obligations [Member] | Available For Sale Maturity After10 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 35,444 | |
Fair Value | 32,524 | |
Government-Sponsored Enterprise Obligations [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 446,864 | 450,448 |
Fair Value | 446,285 | 449,998 |
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 98,069 | |
Fair Value | 98,206 | |
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 336,302 | |
Fair Value | 335,723 | |
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Maturity After10 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 12,493 | |
Fair Value | 12,356 | |
State And Municipal Obligations [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 1,745,068 | 1,778,684 |
Fair Value | 1,777,797 | 1,778,214 |
State And Municipal Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 171,936 | |
Fair Value | 172,890 | |
State And Municipal Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 643,200 | |
Fair Value | 654,145 | |
State And Municipal Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 879,036 | |
Fair Value | 900,292 | |
State And Municipal Obligations [Member] | Available For Sale Maturity After10 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 50,896 | |
Fair Value | 50,470 | |
Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 2,604,217 | 2,674,964 |
Fair Value | 2,620,198 | 2,685,931 |
Non-Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 1,063,236 | 1,054,446 |
Fair Value | 1,066,889 | 1,055,639 |
Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 2,249,399 | 2,389,176 |
Fair Value | 2,250,426 | 2,381,301 |
Total Mortgage And Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 5,916,852 | 6,118,586 |
Fair Value | 5,937,513 | 6,122,871 |
Other Debt Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 315,496 | 327,030 |
Fair Value | 317,704 | 325,953 |
Other Debt Securities [Member] | Available For Sale Securities Maturity Within1 Year [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 13,387 | |
Fair Value | 13,389 | |
Other Debt Securities [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 176,199 | |
Fair Value | 177,812 | |
Other Debt Securities [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 125,910 | |
Fair Value | 126,503 | |
Equity Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 5,463 | 5,678 |
Fair Value | $ 47,847 | $ 51,263 |
Investment Securities (Availabl
Investment Securities (Available For Sale Securities Unrealized Gains And Losses, By Security Type) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Investment [Line Items] | ||
Amortized Cost | $ 9,341,771 | $ 9,600,330 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 129,881 | 109,815 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (31,951) | (60,942) |
Fair Value | 9,439,701 | 9,649,203 |
U.S. Government And Federal Agency Obligations [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 912,028 | 919,904 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 5,575 | 7,312 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (5,048) | (6,312) |
Fair Value | 912,555 | 920,904 |
Government-Sponsored Enterprise Obligations [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 446,864 | 450,448 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 892 | 1,126 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (1,471) | (1,576) |
Fair Value | 446,285 | 449,998 |
State And Municipal Obligations [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 1,745,068 | 1,778,684 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 34,717 | 12,223 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (1,988) | (12,693) |
Fair Value | 1,777,797 | 1,778,214 |
Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 2,604,217 | 2,674,964 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 29,780 | 31,610 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (13,799) | (20,643) |
Fair Value | 2,620,198 | 2,685,931 |
Non-Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 1,063,236 | 1,054,446 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 8,063 | 7,686 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (4,410) | (6,493) |
Fair Value | 1,066,889 | 1,055,639 |
Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 2,249,399 | 2,389,176 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 5,725 | 3,338 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (4,698) | (11,213) |
Fair Value | 2,250,426 | 2,381,301 |
Total Mortgage And Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 5,916,852 | 6,118,586 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 43,568 | 42,634 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (22,907) | (38,349) |
Fair Value | 5,937,513 | 6,122,871 |
Other Debt Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 315,496 | 327,030 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 2,745 | 935 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (537) | (2,012) |
Fair Value | 317,704 | 325,953 |
Equity Securities [Member] | ||
Investment [Line Items] | ||
Amortized Cost | 5,463 | 5,678 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 42,384 | 45,585 |
Available For Sale Securities, Gross Unrealized Loss at Period End | 0 | 0 |
Fair Value | $ 47,847 | $ 51,263 |
Investment Securities (Cash Flo
Investment Securities (Cash Flow Model Inputs Used To Calculate Credit Losses) (Details) | Jun. 30, 2017 |
Minimum [Member] | |
Investment [Line Items] | |
Prepayment CPR | 4.00% |
Projected cumulative default | 14.00% |
Credit support | 0.00% |
Loss severity | 16.00% |
Maximum [Member] | |
Investment [Line Items] | |
Prepayment CPR | 25.00% |
Projected cumulative default | 51.00% |
Credit support | 38.00% |
Loss severity | 63.00% |
Investment Securities (Changes
Investment Securities (Changes In Recorded Credit Losses) (Details) - USD ($) $ in Thousands | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | $ 14,254 | $ 14,362 | $ 14,080 | $ 14,129 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment | 46 | 0 | ||
Credit losses on debt securities for which impairment was previously recognized | 274 | 270 | ||
Increase in expected cash flows that are recognized over remaining life of security | $ (146) | $ (37) |
Investment Securities (Securiti
Investment Securities (Securities With Unrealized Losses And Length Of Impairment Period) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Investment [Line Items] | ||
Less than 12 months, Fair Value | $ 2,820,738 | $ 4,036,153 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 28,950 | 50,837 |
12 months or longer, Fair Value | 298,752 | 444,252 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3,001 | 10,105 |
Total, Fair Value | 3,119,490 | 4,480,405 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 31,951 | 60,942 |
U.S. Government And Federal Agency Obligations [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 145,884 | 349,538 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 5,048 | 2,823 |
12 months or longer, Fair Value | 0 | 32,208 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 3,489 |
Total, Fair Value | 145,884 | 381,746 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 5,048 | 6,312 |
Government-Sponsored Enterprise Obligations [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 181,682 | 190,441 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,471 | 1,576 |
12 months or longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Total, Fair Value | 181,682 | 190,441 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1,471 | 1,576 |
State And Municipal Obligations [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 168,613 | 700,779 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,365 | 12,164 |
12 months or longer, Fair Value | 13,761 | 15,195 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 623 | 529 |
Total, Fair Value | 182,374 | 715,974 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1,988 | 12,693 |
Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 959,777 | 1,147,416 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 13,795 | 20,638 |
12 months or longer, Fair Value | 1,720 | 2,150 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 4 | 5 |
Total, Fair Value | 961,497 | 1,149,566 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 13,799 | 20,643 |
Non-Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 503,709 | 688,131 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4,165 | 6,373 |
12 months or longer, Fair Value | 47,189 | 34,946 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 245 | 120 |
Total, Fair Value | 550,898 | 723,077 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 4,410 | 6,493 |
Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 795,526 | 780,209 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2,606 | 5,277 |
12 months or longer, Fair Value | 234,619 | 358,778 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2,092 | 5,936 |
Total, Fair Value | 1,030,145 | 1,138,987 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 4,698 | 11,213 |
Total Mortgage And Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 2,259,012 | 2,615,756 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 20,566 | 32,288 |
12 months or longer, Fair Value | 283,528 | 395,874 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2,341 | 6,061 |
Total, Fair Value | 2,542,540 | 3,011,630 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 22,907 | 38,349 |
Debt Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 65,547 | 179,639 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 500 | 1,986 |
12 months or longer, Fair Value | 1,463 | 975 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 37 | 26 |
Total, Fair Value | 67,010 | 180,614 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 537 | $ 2,012 |
Investment Securities (Proceeds
Investment Securities (Proceeds From Sales Of Securities And Components Of Investment Securities Gains And Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||||
Investment [Line Items] | |||||||
Proceeds from Sale and Maturity of Available-for-sale Securities | $ 4,972 | $ 0 | |||||
Proceeds from sales of non-marketable securities | 1,580 | 2,071 | |||||
Total proceeds | [1] | 6,552 | 2,071 | ||||
Investment securities gains (losses), net | $ 1,651 | $ (744) | 879 | [1] | (1,739) | [1] | |
Available-for-sale Securities [Member] | |||||||
Investment [Line Items] | |||||||
Loss Realized on Called Bond | (254) | 0 | |||||
Available-for-sale Securities, Gross Realized Losses | (22) | 0 | |||||
Gain realized on donation | 4,315 | 0 | |||||
Other-than-temporary impairment recognized on debt securities | (320) | (270) | |||||
Non-Marketable [Member] | |||||||
Investment [Line Items] | |||||||
Gains realized on sales | 642 | 2,260 | |||||
Nonmarketable Securities Loss On Sale | (652) | 0 | |||||
Fair value adjustments, net | $ (2,830) | $ (3,729) | |||||
[1] | Available for sale and non-marketable securities |
Goodwill And Other Intangible56
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Amortization of Intangible Assets | $ 330 | $ 399 | $ 678 | $ 794 |
Goodwill And Other Intangible57
Goodwill And Other Intangible Assets (Schedule Of Intangible Assets With Estimable Useful Lives) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 37,907 | $ 36,942 |
Accumulated Amortization | (30,889) | (30,211) |
Valuation Allowance | (16) | (22) |
Net Amount | 7,002 | 6,709 |
Core Deposit Premium [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 31,270 | 31,270 |
Accumulated Amortization | (27,914) | (27,429) |
Valuation Allowance | 0 | 0 |
Net Amount | 3,356 | 3,841 |
Mortgage Servicing Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 6,637 | 5,672 |
Accumulated Amortization | (2,975) | (2,782) |
Valuation Allowance | (16) | (22) |
Net Amount | $ 3,646 | $ 2,868 |
Goodwill And Other Intangible58
Goodwill And Other Intangible Assets (Schedule Of Estimated Annual Amortization Expense) (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,017 | $ 1,141 |
2,018 | 1,091 |
2,019 | 917 |
2,020 | 765 |
2,021 | $ 651 |
Goodwill And Other Intangible59
Goodwill And Other Intangible Assets (Schedule Of Changes In Carrying Amount Of Goodwill And Net Other Intangible Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Goodwill and Intangible Assets [Roll Forward] | |||||
Amortization | $ (330) | $ (399) | $ (678) | $ (794) | |
Goodwill [Member] | |||||
Goodwill and Intangible Assets [Roll Forward] | |||||
Originations | 0 | ||||
Amortization | 0 | ||||
Impairment reversal | 0 | ||||
Intangible Assets, Net (Including Goodwill) | 138,921 | 138,921 | $ 138,921 | ||
Core Deposit Premium [Member] | |||||
Goodwill and Intangible Assets [Roll Forward] | |||||
Originations | 0 | ||||
Amortization | (485) | ||||
Impairment reversal | 0 | ||||
Intangible Assets, Net (Including Goodwill) | 3,356 | 3,356 | 3,841 | ||
Mortgage Servicing Rights [Member] | |||||
Goodwill and Intangible Assets [Roll Forward] | |||||
Originations | 965 | ||||
Amortization | (193) | ||||
Impairment reversal | 6 | ||||
Intangible Assets, Net (Including Goodwill) | $ 3,646 | $ 3,646 | $ 2,868 |
Goodwill And Other Intangible60
Goodwill And Other Intangible Assets (Schedule Of Goodwill Allocated By Operating Segments) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Goodwill [Line Items] | ||
Goodwill | $ 138,921 | $ 138,921 |
Consumer Segment [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 70,721 | 70,721 |
Commercial Segment [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 67,454 | 67,454 |
Wealth Segment [Member] | ||
Goodwill [Line Items] | ||
Goodwill | $ 746 | $ 746 |
Guarantees (Details)
Guarantees (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Guarantor Obligations [Line Items] | ||
Derivative Liabilities | $ 6,247 | $ 13,339 |
Notional amount of underlying interest rate swaps associated with risk participation agreements | 1,923,619 | $ 1,904,093 |
Financial Standby Letter Of Credit [Member] | ||
Guarantor Obligations [Line Items] | ||
Standby letters of credit, net liability | 2,100 | |
Contractual amount of letters of credit, guaranteed maximum potential future payments | 338,800 | |
Risk Participation Agreement [Member] | Indirect Guarantee Of Indebtedness [Member] | ||
Guarantor Obligations [Line Items] | ||
Derivative Liabilities | 139 | |
Notional amount of underlying interest rate swaps associated with risk participation agreements | $ 75,300 | |
Minimum [Member] | Risk Participation Agreement [Member] | ||
Guarantor Obligations [Line Items] | ||
Term, in years | 3 years | |
Maximum [Member] | Risk Participation Agreement [Member] | ||
Guarantor Obligations [Line Items] | ||
Term, in years | 11 years |
Pension Pension (Narrative) (De
Pension Pension (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Pension (Narrative) [Abstract] | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 |
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year | $ 0 |
Pension (Net Pension Cost) (Det
Pension (Net Pension Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Pension [Abstract] | ||||
Service cost - benefits earned during the period | $ 128 | $ 138 | $ 257 | $ 271 |
Interest cost on projected benefit obligation | 973 | 1,005 | 1,946 | 1,972 |
Expected Return on Plan Assets | (1,438) | (1,439) | (2,876) | (2,876) |
Amortization of Prior Service Cost | (68) | (67) | (136) | (135) |
Amortization of unrecognized net loss | 617 | 642 | 1,234 | 1,293 |
Net periodic pension cost | $ 212 | $ 279 | $ 425 | $ 525 |
Common Stock (Summary Of Compon
Common Stock (Summary Of Components Used To Calculate Basic And Diluted Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Net income attributable to Commerce Bancshares, Inc. | $ 78,960 | $ 69,893 | $ 150,464 | $ 135,267 |
Preferred Stock Dividends | 2,250 | 2,250 | 4,500 | 4,500 |
Net Income (Loss) Available to Common Stockholders | $ 76,710 | $ 67,643 | $ 145,964 | $ 130,767 |
Basic income per common share | $ 0.75 | $ 0.67 | $ 1.43 | $ 1.29 |
Diluted income per common share | $ 0.75 | $ 0.66 | $ 1.43 | $ 1.28 |
Basic Income Per Common Share [Member] | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Net income attributable to Commerce Bancshares, Inc. | $ 78,960 | $ 69,893 | $ 150,464 | $ 135,267 |
Preferred Stock Dividends | 2,250 | 2,250 | 4,500 | 4,500 |
Net Income (Loss) Available to Common Stockholders | 76,710 | 67,643 | 145,964 | 130,767 |
Less income allocated to nonvested restricted stockholders | 943 | 940 | 1,888 | 1,834 |
Net income available to common stockholders | $ 75,767 | $ 66,703 | $ 144,076 | $ 128,933 |
Weighted average common shares outstanding | 100,555 | 100,151 | 100,463 | 100,247 |
Basic income per common share | $ 0.75 | $ 0.67 | $ 1.43 | $ 1.29 |
Diluted Income Per Common Share [Member] | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Net Income (Loss) Available to Common Stockholders, Diluted | $ 76,710 | $ 67,643 | $ 145,964 | $ 130,767 |
Less income allocated to nonvested restricted stockholders | 941 | 938 | 1,883 | 1,831 |
Net income available to common stockholders | $ 75,769 | $ 66,705 | $ 144,081 | $ 128,936 |
Weighted average common shares outstanding | 100,555 | 100,151 | 100,463 | 100,247 |
Net effect of the assumed exercise of stock-based awards - based on the treasury stock method using the average market price for the respective periods | 344 | 261 | 370 | 245 |
Weighted average diluted common shares outstanding | 100,899 | 100,412 | 100,833 | 100,492 |
Diluted income per common share | $ 0.75 | $ 0.66 | $ 1.43 | $ 1.28 |
Common Stock Common Stock (Anti
Common Stock Common Stock (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 126 | 208 |
Accumulated Other Comprehensi66
Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Accumulated other comprehensive income | $ 42,070,000 | $ 134,424,000 | $ 42,070,000 | $ 134,424,000 | $ 10,975,000 | $ 32,470,000 | |
Other Comprehensive Income Before Reclassifications | 53,028,000 | 163,014,000 | |||||
Reclassified from Accumulated Oher Comprehensive Income | (2,875,000) | 1,428,000 | |||||
Other Comprehensive Income (Loss), before Tax | 50,153,000 | 164,442,000 | |||||
Other Comprehensive Income (Loss), Tax | (19,058,000) | (62,488,000) | |||||
Other comprehensive income (loss), net of tax | 11,658,000 | 31,495,000 | 31,095,000 | 101,954,000 | |||
Reclassification Where Impairment Was Not Previously Recognized | 0 | 0 | |||||
Unrealized Gain Loss on Securities OTTI [Member] | |||||||
Accumulated other comprehensive income | [1] | 3,170,000 | 2,918,000 | 3,170,000 | 2,918,000 | 2,975,000 | 3,316,000 |
Other Comprehensive Income Before Reclassifications | [1] | (44,000) | (911,000) | ||||
Reclassified from Accumulated Oher Comprehensive Income | [1] | 320,000 | 270,000 | ||||
Other Comprehensive Income (Loss), before Tax | [1] | 276,000 | (641,000) | ||||
Other Comprehensive Income (Loss), Tax | [1] | (105,000) | 243,000 | ||||
Other comprehensive income (loss), net of tax | [1] | 171,000 | (398,000) | ||||
Reclassification Where Impairment Was Not Previously Recognized | 24,000 | 0 | |||||
Unrealized Gain Loss on Securities Other [Member] | |||||||
Accumulated other comprehensive income | [1] | 57,547,000 | 151,384,000 | 57,547,000 | 151,384,000 | 27,328,000 | 49,750,000 |
Other Comprehensive Income Before Reclassifications | [1] | 53,072,000 | 163,925,000 | ||||
Reclassified from Accumulated Oher Comprehensive Income | [1] | (4,293,000) | 0 | ||||
Other Comprehensive Income (Loss), before Tax | [1] | 48,779,000 | 163,925,000 | ||||
Other Comprehensive Income (Loss), Tax | [1] | (18,536,000) | (62,291,000) | ||||
Other comprehensive income (loss), net of tax | [1] | 30,243,000 | 101,634,000 | ||||
Reclassification Where Impairment Was Not Previously Recognized | (24,000) | 0 | |||||
Pension Loss [Member] | |||||||
Accumulated other comprehensive income | [2] | $ (18,647,000) | $ (19,878,000) | (18,647,000) | (19,878,000) | $ (19,328,000) | $ (20,596,000) |
Other Comprehensive Income Before Reclassifications | [2] | 0 | 0 | ||||
Reclassified from Accumulated Oher Comprehensive Income | [2] | 1,098,000 | 1,158,000 | ||||
Other Comprehensive Income (Loss), before Tax | [2] | 1,098,000 | 1,158,000 | ||||
Other Comprehensive Income (Loss), Tax | [2] | (417,000) | (440,000) | ||||
Other comprehensive income (loss), net of tax | [2] | 681,000 | 718,000 | ||||
Reclassification Where Impairment Was Not Previously Recognized | $ 0 | $ 0 | |||||
[1] | The pre-tax amounts reclassified from accumulated other comprehensive income are included in "investment securities gains (losses), net" in the consolidated statements of income. | ||||||
[2] | The pre-tax amounts reclassified from accumulated other comprehensive income are included in the computation of net periodic pension cost as "amortization of prior service cost" and "amortization of unrecognized net loss" (see Note 6), for inclusion in the consolidated statements of income. |
Segments Segments (Narrative) (
Segments Segments (Narrative) (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Locations | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)Locations | Jun. 30, 2016USD ($) | |
Segments [Abstract] | ||||
Number of Operating Segments | 3 | 3 | ||
Segment Reporting Information, Intersegment Revenue | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Number Of Locations | Locations | 180 | 180 |
Segments (Schedule Of Financial
Segments (Schedule Of Financial Information By Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |||
Segment Reporting Information [Line Items] | ||||||
Net interest income | $ 182,807 | $ 171,829 | $ 361,080 | $ 335,604 | ||
Provision for loan losses | (10,758) | (9,216) | (21,886) | (18,655) | ||
Non-interest income | 123,084 | 116,570 | 240,150 | 235,594 | ||
Investment securities gains (losses), net | 1,651 | (744) | 879 | [1] | (1,739) | [1] |
Non-interest expense | (184,594) | (177,089) | (371,424) | (354,562) | ||
Income before income taxes | 112,190 | 101,350 | 208,799 | 196,242 | ||
Consumer Segment [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | 69,274 | 67,227 | 136,628 | 133,791 | ||
Provision for loan losses | (10,802) | (8,775) | (20,464) | (17,500) | ||
Non-interest income | 34,459 | 33,038 | 66,017 | 62,935 | ||
Investment securities gains (losses), net | 0 | 0 | 0 | 0 | ||
Non-interest expense | (73,603) | (70,522) | (145,126) | (139,526) | ||
Income before income taxes | 19,328 | 20,968 | 37,055 | 39,700 | ||
Commercial Segment [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | 81,718 | 77,249 | 161,505 | 153,266 | ||
Provision for loan losses | 111 | 1,468 | 624 | 1,487 | ||
Non-interest income | 49,746 | 48,289 | 96,879 | 99,408 | ||
Investment securities gains (losses), net | 0 | 0 | 0 | 0 | ||
Non-interest expense | (74,054) | (70,637) | (147,839) | (140,250) | ||
Income before income taxes | 57,521 | 56,369 | 111,169 | 113,911 | ||
Wealth Segment [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | 11,933 | 10,947 | 23,771 | 21,822 | ||
Provision for loan losses | 24 | (9) | 1 | (115) | ||
Non-interest income | 38,851 | 36,618 | 76,557 | 71,020 | ||
Investment securities gains (losses), net | 0 | 0 | 0 | 0 | ||
Non-interest expense | (29,446) | (28,356) | (59,795) | (56,944) | ||
Income before income taxes | 21,362 | 19,200 | 40,534 | 35,783 | ||
Segment Totals [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | 162,925 | 155,423 | 321,904 | 308,879 | ||
Provision for loan losses | (10,667) | (7,316) | (19,839) | (16,128) | ||
Non-interest income | 123,056 | 117,945 | 239,453 | 233,363 | ||
Investment securities gains (losses), net | 0 | 0 | 0 | 0 | ||
Non-interest expense | (177,103) | (169,515) | (352,760) | (336,720) | ||
Income before income taxes | 98,211 | 96,537 | 188,758 | 189,394 | ||
Other Elimination [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | 19,882 | 16,406 | 39,176 | 26,725 | ||
Provision for loan losses | (91) | (1,900) | (2,047) | (2,527) | ||
Non-interest income | 28 | (1,375) | 697 | 2,231 | ||
Investment securities gains (losses), net | 1,651 | (744) | 879 | (1,739) | ||
Non-interest expense | (7,491) | (7,574) | (18,664) | (17,842) | ||
Income before income taxes | $ 13,979 | $ 4,813 | $ 20,041 | $ 6,848 | ||
[1] | Available for sale and non-marketable securities |
Derivative Instruments Derivati
Derivative Instruments Derivative Instruments (Narrative) (Details) $ in Millions | Jun. 30, 2017USD ($) |
Derivative Instruments (Narrative) [Abstract] | |
Variation Margin Impact to Positive Fair Values of Cleared Swaps | $ 2.4 |
Variation Margin Impact to Negative Fair Values of Cleared Swaps | $ 7.3 |
Derivative Instruments (Schedul
Derivative Instruments (Schedule Of Notional Amounts Of Derivative Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Derivative [Line Items] | ||
Notional Amount of Derivatives | $ 1,923,619 | $ 1,904,093 |
Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 1,693,637 | 1,685,099 |
Interest Rate Caps [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 32,890 | 59,379 |
Credit Risk Participation Agreements [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 118,081 | 121,514 |
Foreign Exchange Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 5,556 | 4,046 |
Mortgage Loan Commitments [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 29,429 | 12,429 |
Mortgage Loan Forward Sale Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 1,026 | 6,626 |
Forward TBA Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | $ 43,000 | $ 15,000 |
Derivative Instruments (Sched71
Derivative Instruments (Schedule Of Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Other assets | $ 12,027 | $ 13,566 |
Other liabilities | (6,247) | (13,339) |
Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 10,887 | 12,987 |
Other liabilities | (5,987) | (12,987) |
Interest Rate Caps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 34 | 78 |
Other liabilities | (34) | (78) |
Credit Risk Participation Agreements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 58 | 65 |
Other liabilities | (139) | (156) |
Foreign Exchange Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 39 | 66 |
Other liabilities | (53) | (4) |
Mortgage Loan Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 872 | 355 |
Other liabilities | 0 | (6) |
Mortgage Loan Forward Sale Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 0 | 0 |
Other liabilities | 0 | (63) |
Forward TBA Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 137 | 15 |
Other liabilities | $ (34) | $ (45) |
Derivative Instruments (Summary
Derivative Instruments (Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Income on Derivatives | $ 206 | $ 426 | $ 861 | $ 2,746 |
Other Non-Interest Income [Member] | Interest Rate Swaps [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Income on Derivatives | 456 | 769 | 599 | 2,995 |
Other Non-Interest Income [Member] | Credit Risk Participation Agreements [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Income on Derivatives | 1 | (23) | 11 | (58) |
Other Non-Interest Income [Member] | Foreign Exchange Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Income on Derivatives | (55) | 57 | (75) | 8 |
Loans Fees And Sales [Member] | Mortgage Loan Commitments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Income on Derivatives | (32) | 19 | 522 | 527 |
Loans Fees And Sales [Member] | Mortgage Loan Forward Sale Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Income on Derivatives | (4) | 1 | 62 | 0 |
Loans Fees And Sales [Member] | Forward TBA Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Income on Derivatives | $ (160) | $ (397) | $ (258) | $ (726) |
Derivative Instruments Deriva73
Derivative Instruments Derivative Instruments (Balance Sheet Offsetting) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | $ 12,027 | $ 13,566 |
Derivative Asset, Amount Offset by Liabiilty | 0 | 0 |
Derivative Assets | 12,027 | 13,566 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 6,247 | 13,339 |
Derivative Liability, Amount Offset by Asset | 0 | 0 |
Derivative Liabilities | 6,247 | 13,339 |
Derivative Subject to Master Netting Agreement [Member] | ||
Derivative Asset, Fair Value, Gross Asset | 11,088 | 13,111 |
Derivative Asset, Amount Offset by Liabiilty | 0 | 0 |
Derivative Asset, Net Amount Presented in the Balance Sheet | 11,088 | 13,111 |
Derivative Asset, Not Offset, Policy Election Deduction | (514) | (3,391) |
derivatve asset, fair value of collateral | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 10,574 | 9,720 |
Derivative Liability, Fair Value, Gross Liability | 6,066 | 13,124 |
Derivative Liability, Amount Offset by Asset | 0 | 0 |
Derivative Liability, Net Amount Presented in the Balance Sheet | 6,066 | 13,124 |
Derivative Liability, Not Offset, Policy Election Deduction | (514) | (3,391) |
Derivative Liability, Fair Value of Collateral | (1,710) | (5,292) |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 3,842 | 4,441 |
Derivative Not Subject to Master Netting Agreement [Member] | ||
Derivative Asset, Fair Value, Gross Asset | 939 | 455 |
Derivative Asset, Amount Offset by Liabiilty | 0 | 0 |
Derivative Asset, Not Subject to Master Netting Arrangement | 939 | 455 |
Derivative Liability, Fair Value, Gross Liability | 181 | 215 |
Derivative Liability, Amount Offset by Asset | 0 | 0 |
Derivative Liability, Not Subject to Master Netting Arrangement | $ 181 | $ 215 |
Resale and Repurchase Agreeme74
Resale and Repurchase Agreements Resale and Repurchase Agreements (Narrative) (Details) - Collateral Swap [Member] - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Balance Sheet Offsetting [Line Items] | ||
Collateral Swap Agreements | $ 700 | $ 550 |
Collateral Already Posted, Aggregate Fair Value | 718.1 | |
Collateral Accepted, Aggregate Fair Value | $ 724.4 |
Resale and Repurchase Agreeme75
Resale and Repurchase Agreements Resale and Repurchase Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Balance Sheet Offsetting [Line Items] | ||
Securities purchased under agreements to resell | $ 625,000 | $ 725,000 |
Resale agreement [Member] | ||
Balance Sheet Offsetting [Line Items] | ||
Securities Purchased under Agreements to Resell, Gross | 1,325,000 | 1,275,000 |
Securities Purchased under Agreements to Resell, Liability | (700,000) | (550,000) |
Securities purchased under agreements to resell | 625,000 | 725,000 |
Securities Purchased under Agreements to Resell, Not Subject to Master Netting Arrangement | 0 | 0 |
Securities Purchased under Agreements to Resell, Collateral, Obligation to Return Securities | (625,000) | (725,000) |
Securities Purchased under Agreements to Resell, Amount Offset Against Collateral | 0 | 0 |
Repurchase agreement [Member] | ||
Balance Sheet Offsetting [Line Items] | ||
Securities Sold under Agreements to Repurchase, Gross | 1,702,934 | 2,221,065 |
Securities Sold under Agreements to Repurchase, Asset | (700,000) | (550,000) |
Securities Sold under Agreements to Repurchase | 1,002,934 | 1,671,065 |
Securities Sold under Agreements to Repurchase, Not Subject to Master Netting Arrangement | 0 | 0 |
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities | (1,002,934) | (1,671,065) |
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral | $ 0 | $ 0 |
Resale and Repurchase Agreeme76
Resale and Repurchase Agreements Remaining Contractual Maturities of Repurchase Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
U.S. Government And Federal Agency Obligations [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | $ 330,173 | $ 294,600 |
U.S. Government And Federal Agency Obligations [Member] | Maturity up to 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 1,728 | 0 |
U.S. Government And Federal Agency Obligations [Member] | Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 450,000 | 300,000 |
U.S. Government And Federal Agency Obligations [Member] | Total Repurchase Agreements [Member] [Domain] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 781,901 | 594,600 |
Government-Sponsored Enterprise Obligations [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 180,496 | 147,694 |
Government-Sponsored Enterprise Obligations [Member] | Maturity up to 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 0 | 0 |
Government-Sponsored Enterprise Obligations [Member] | Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 0 | 3,237 |
Government-Sponsored Enterprise Obligations [Member] | Total Repurchase Agreements [Member] [Domain] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 180,496 | 150,931 |
Agency Mortgage-Backed Securities [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 379,441 | 693,851 |
Agency Mortgage-Backed Securities [Member] | Maturity up to 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 70,325 | 24,380 |
Agency Mortgage-Backed Securities [Member] | Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 200,000 | 252,473 |
Agency Mortgage-Backed Securities [Member] | Total Repurchase Agreements [Member] [Domain] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 649,766 | 970,704 |
Asset-Backed Securities [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 10,771 | 474,830 |
Asset-Backed Securities [Member] | Maturity up to 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 80,000 | 30,000 |
Asset-Backed Securities [Member] | Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 0 | 0 |
Asset-Backed Securities [Member] | Total Repurchase Agreements [Member] [Domain] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 90,771 | 504,830 |
Repurchase Agreements [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 900,881 | 1,610,975 |
Repurchase Agreements [Member] | Maturity up to 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 152,053 | 54,380 |
Repurchase Agreements [Member] | Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 650,000 | 555,710 |
Repurchase Agreements [Member] | Total Repurchase Agreements [Member] [Domain] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | $ 1,702,934 | $ 2,221,065 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Jan. 01, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Allocated Share-based Compensation Expense | $ 3.1 | $ 2.9 | $ 6.2 | $ 6.3 | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 1.3 | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | $ 1.6 | $ 4.5 | ||||
Nonvested Stock Award [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period (in years) | 4 years | |||||
Nonvested Stock Award [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period (in years) | 7 years | |||||
Stock Appreciation Rights (SARs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period (in years) | 4 years | |||||
Contractual terms of stock options granted (in years) | 10 years |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of The Status Of Nonvested Share Awards) (Details) | 6 Months Ended |
Jun. 30, 2017$ / sharesshares | |
Nonvested Share Awards [Roll Forward] | |
Nonvested, Shares, Beginning Balance | shares | 1,392,451 |
Granted, Shares | shares | 233,520 |
Vested, Shares | shares | (394,130) |
Forfeited, Shares | shares | (9,388) |
Nonvested, Shares, Ending Balance | shares | 1,222,453 |
Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares | $ 34.67 |
Granted , Weighted Average Grant Date Fair Value | $ / shares | 57.32 |
Vested , Weighted Average Grant Date Fair Value | $ / shares | 30.79 |
Forfeited , Weighted Average Grant Date Fair Value | $ / shares | 38.78 |
Nonvested , Weighted Average Grant Date Fair Value, Ending Balance | $ / shares | $ 40.22 |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation (Current Year Per Share Average Fair Value and Valuation Model Assumptions) (Details) | 6 Months Ended |
Jun. 30, 2017$ / shares | |
Current Year Per Share Average Fair Value and Valuation Model Assumptions [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 12.54 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 1.60% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 21.10% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.40% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 7 years |
Stock-Based Compensation (Sum80
Stock-Based Compensation (Summary Of SAR Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Stock Appreciation Rights [Roll Forward] | ||
Outstanding, Shares | 1,222,064 | 1,324,954 |
Granted, Shares | 165,592 | |
Forfeited, Shares | (4,182) | |
Expired, Shares | (797) | |
Exercised, Shares | (263,503) | |
Outstanding, Weighted Average Exercise Price, Beginning Balance | $ 34.53 | |
Granted, Weighted Average Exercise Price | 57.53 | |
Forfeited, Weighted Average Exercise Price | 42.82 | |
Expired, Weighted Average Exercise Price | 36.22 | |
Exercised, Weighted Average Exercise Price | 30.58 | |
Outstanding, Weighted Average Exercise Price, Ending Balance | $ 38.47 | |
Outstanding, Weighted Average Remaining Contractual Term (in years) | 6 years 6 months | |
Outstanding, Aggregate Intrinsic Value, Ending Balance | $ 22,583 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Private equity investments | $ 53,557 | $ 50,820 |
Fair Value Hierarchy, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Auction Rate Securities Available For Sale | 16,800 | |
Private equity investments | $ 53,557 | $ 50,820 |
Fair Value Measurements (Summar
Fair Value Measurements (Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 14,118,000 | $ 9,263,000 |
U.S. government and federal agency obligations | 912,555,000 | 920,904,000 |
Government-sponsored enterprise obligations | 446,285,000 | 449,998,000 |
State and municipal obligations | 1,777,797,000 | 1,778,214,000 |
Agency mortgage-backed securities | 2,620,198,000 | 2,685,931,000 |
Non-agency mortgage-backed securities | 1,066,889,000 | 1,055,639,000 |
Other asset-backed securities | 2,250,426,000 | 2,381,301,000 |
Other debt securities | 317,704,000 | 325,953,000 |
Equity securities | 47,847,000 | 51,263,000 |
Trading securities | 22,291,000 | 22,225,000 |
Private equity investments | 53,557,000 | 50,820,000 |
Derivative Assets | 12,027,000 | 13,566,000 |
Assets held in trust for deferred compensation plan | 11,893,000 | 10,261,000 |
Total Assets | 9,553,587,000 | 9,755,338,000 |
Derivative Liabilities | 6,247,000 | 13,339,000 |
Liabilities held in trust for deferred compensation plan | 11,893,000 | 10,261,000 |
Total Liabilities | 18,140,000 | 23,600,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | 0 | 0 |
U.S. government and federal agency obligations | 912,555,000 | 920,904,000 |
Government-sponsored enterprise obligations | 0 | 0 |
State and municipal obligations | 0 | 0 |
Agency mortgage-backed securities | 0 | 0 |
Non-agency mortgage-backed securities | 0 | 0 |
Other asset-backed securities | 0 | 0 |
Other debt securities | 0 | 0 |
Equity securities | 21,156,000 | 24,967,000 |
Trading securities | 0 | 0 |
Private equity investments | 0 | 0 |
Derivative Assets | 0 | 0 |
Assets held in trust for deferred compensation plan | 11,893,000 | 10,261,000 |
Total Assets | 945,604,000 | 956,132,000 |
Derivative Liabilities | 0 | 0 |
Liabilities held in trust for deferred compensation plan | 11,893,000 | 10,261,000 |
Total Liabilities | 11,893,000 | 10,261,000 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | 14,118,000 | 9,263,000 |
U.S. government and federal agency obligations | 0 | 0 |
Government-sponsored enterprise obligations | 446,285,000 | 449,998,000 |
State and municipal obligations | 1,760,972,000 | 1,761,532,000 |
Agency mortgage-backed securities | 2,620,198,000 | 2,685,931,000 |
Non-agency mortgage-backed securities | 1,066,889,000 | 1,055,639,000 |
Other asset-backed securities | 2,250,426,000 | 2,381,301,000 |
Other debt securities | 317,704,000 | 325,953,000 |
Equity securities | 26,691,000 | 26,296,000 |
Trading securities | 22,291,000 | 22,225,000 |
Private equity investments | 0 | 0 |
Derivative Assets | 11,097,000 | 13,146,000 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Total Assets | 8,536,671,000 | 8,731,284,000 |
Derivative Liabilities | 6,108,000 | 13,177,000 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Total Liabilities | 6,108,000 | 13,177,000 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | 0 | 0 |
U.S. government and federal agency obligations | 0 | 0 |
Government-sponsored enterprise obligations | 0 | 0 |
State and municipal obligations | 16,825,000 | 16,682,000 |
Agency mortgage-backed securities | 0 | 0 |
Non-agency mortgage-backed securities | 0 | 0 |
Other asset-backed securities | 0 | 0 |
Other debt securities | 0 | 0 |
Equity securities | 0 | 0 |
Trading securities | 0 | 0 |
Private equity investments | 53,557,000 | 50,820,000 |
Derivative Assets | 930,000 | 420,000 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Total Assets | 71,312,000 | 67,922,000 |
Derivative Liabilities | 139,000 | 162,000 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Total Liabilities | $ 139,000 | $ 162,000 |
Fair Value Measurements (Summ83
Fair Value Measurements (Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $ 70,705 | $ 85,147 | $ 67,760 | $ 80,296 |
Total gains or losses (realized /unrealized), included in earnings | 17 | (2,814) | (2,297) | (3,255) |
Total gains or losses (realized /unrealized), included in other comprehensive income | 319 | 401 | 710 | 502 |
Investment securities called | (600) | 0 | (600) | (100) |
Discount accretion | 23 | 69 | 33 | 82 |
Purchase of private equity securities | 2,259 | 575 | 7,084 | 5,841 |
Sales And Repayments Of Private Equity Securities | (1,550) | (2,398) | (1,550) | (2,398) |
Capitalized interest/dividends | 0 | 14 | 33 | 62 |
Sale Of Risk Participation Agreement | 0 | 0 | 0 | (36) |
Ending balance | 71,173 | 80,994 | 71,173 | 80,994 |
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end | 920 | (2,043) | (1,773) | (2,992) |
State And Municipal Obligations [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | 17,083 | 17,209 | 16,682 | 17,195 |
Total gains or losses (realized /unrealized), included in earnings | 0 | 0 | 0 | 0 |
Total gains or losses (realized /unrealized), included in other comprehensive income | 319 | 401 | 710 | 502 |
Investment securities called | (600) | 0 | (600) | (100) |
Discount accretion | 23 | 69 | 33 | 82 |
Purchase of private equity securities | 0 | 0 | 0 | 0 |
Sales And Repayments Of Private Equity Securities | 0 | 0 | 0 | 0 |
Capitalized interest/dividends | 0 | 0 | 0 | 0 |
Sale Of Risk Participation Agreement | 0 | 0 | 0 | 0 |
Ending balance | 16,825 | 17,679 | 16,825 | 17,679 |
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end | 0 | 0 | 0 | 0 |
Private Equity Funds [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | 52,800 | 67,432 | 50,820 | 63,032 |
Total gains or losses (realized /unrealized), included in earnings | 48 | (2,810) | (2,830) | (3,724) |
Total gains or losses (realized /unrealized), included in other comprehensive income | 0 | 0 | 0 | 0 |
Investment securities called | 0 | 0 | 0 | 0 |
Discount accretion | 0 | 0 | 0 | 0 |
Purchase of private equity securities | 2,259 | 575 | 7,084 | 5,841 |
Sales And Repayments Of Private Equity Securities | (1,550) | (2,398) | (1,550) | (2,398) |
Capitalized interest/dividends | 0 | 14 | 33 | 62 |
Sale Of Risk Participation Agreement | 0 | 0 | 0 | 0 |
Ending balance | 53,557 | 62,813 | 53,557 | 62,813 |
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end | 48 | (2,810) | (2,655) | (3,724) |
Derivative Level Three Unobservable Inputs [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | 822 | 506 | 258 | 69 |
Total gains or losses (realized /unrealized), included in earnings | (31) | (4) | 533 | 469 |
Total gains or losses (realized /unrealized), included in other comprehensive income | 0 | 0 | 0 | 0 |
Investment securities called | 0 | 0 | 0 | 0 |
Discount accretion | 0 | 0 | 0 | 0 |
Purchase of private equity securities | 0 | 0 | 0 | 0 |
Sales And Repayments Of Private Equity Securities | 0 | 0 | 0 | 0 |
Capitalized interest/dividends | 0 | 0 | 0 | 0 |
Sale Of Risk Participation Agreement | 0 | 0 | 0 | (36) |
Ending balance | 791 | 502 | 791 | 502 |
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end | $ 872 | $ 767 | $ 882 | $ 732 |
Fair Value Measurements (Summ84
Fair Value Measurements (Summary Of Gains And Losses On Level 3 Assets And Liabilities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items] | ||||
Total gains or losses included in earnings | $ 17 | $ (2,814) | $ (2,297) | $ (3,255) |
Change in unrealized gains or losses relating to assets still held | 920 | (2,043) | (1,773) | (2,992) |
Loans Fees And Sales [Member] | ||||
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items] | ||||
Total gains or losses included in earnings | (32) | 19 | 522 | 527 |
Change in unrealized gains or losses relating to assets still held | 871 | 790 | 871 | 790 |
Other Non-Interest Income [Member] | ||||
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items] | ||||
Total gains or losses included in earnings | 1 | (23) | 11 | (58) |
Change in unrealized gains or losses relating to assets still held | 1 | (23) | 11 | (58) |
Investment Securities Gains (Losses), Net [Member] | ||||
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items] | ||||
Total gains or losses included in earnings | 48 | (2,810) | (2,830) | (3,724) |
Change in unrealized gains or losses relating to assets still held | $ 48 | $ (2,810) | $ (2,655) | $ (3,724) |
Fair Value Measurements (Summ85
Fair Value Measurements (Summary Of Quantitative Information About Level 3 Fair Value Measurements) (Details) | 6 Months Ended |
Jun. 30, 2017Rate | |
Auction Rate Securities [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Valuation Technique, Discounted cash flow | Discounted cash flow |
Unobservable Input, Estimated market recovery period | 5 years |
Auction Rate Securities [Member] | Minimum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Unobservable Input, Estimated market rate | 2.80% |
Auction Rate Securities [Member] | Maximum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Unobservable Input, Estimated market rate | 3.10% |
Private Equity Investments [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Valuation Technique, Market comparable companies | Market comparable companies |
Private Equity Investments [Member] | Minimum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple | 4 |
Private Equity Investments [Member] | Maximum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple | 5.8 |
Mortgage Loan Commitments [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Valuation Technique, Discounted cash flow | Discounted cash flow |
Weighted Average, Probability of Funding | 80.20% |
Weighted Average, Embedded Servicing Value | 1.00% |
Mortgage Loan Commitments [Member] | Minimum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Probability of Funding | 53.00% |
Embedded Servicing Value | (0.20%) |
Mortgage Loan Commitments [Member] | Maximum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Probability of Funding | 99.30% |
Embedded Servicing Value | 2.20% |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule of Fair Value Disclosures Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Collateral Dependent Impaired Loans | $ 2,044 | $ 5,001 |
Loans Nonrecurring Basis Gains Losses | (550) | (1,491) |
Mortgage servicing rights | 3,646 | 2,191 |
Mortgage Servicing Rights Nonrecurring Basis Gains Losses | 6 | (2) |
Foreclosed assets | 75 | 28 |
Foreclosed Assets Nonrecurring Basis Gains Losses | (58) | (10) |
Long-lived assets | 1,834 | 1,871 |
Long Lived Assets Nonrecurring Basis Gains Losses | (343) | (956) |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Collateral Dependent Impaired Loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Foreclosed assets | 0 | 0 |
Long-lived assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Collateral Dependent Impaired Loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Foreclosed assets | 0 | 0 |
Long-lived assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Collateral Dependent Impaired Loans | 2,044 | 5,001 |
Mortgage servicing rights | 3,646 | 2,191 |
Foreclosed assets | 75 | 28 |
Long-lived assets | $ 1,834 | $ 1,871 |
Fair Value Of Financial Instr87
Fair Value Of Financial Instruments (Schedule Of Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value of Personal Real Estate Loans Held for Sale | $ 14,100 | |
Available for sale securities | 9,439,701 | $ 9,649,203 |
Trading securities | 22,291 | 22,225 |
Non-marketable | 102,388 | 99,558 |
Securities purchased under agreements to resell | 625,000 | 725,000 |
Cash and due from banks | 433,747 | 494,690 |
Derivative Assets | 12,027 | 13,566 |
Assets held in trust for deferred compensation plan | 11,893 | 10,261 |
Non-interest bearing deposits | 7,314,506 | 7,429,398 |
Savings, interest checking and money market deposits | 11,427,615 | 11,430,789 |
Derivative Liabilities | 6,247 | 13,339 |
Liabilities held in trust for deferred compensation plan | 11,893 | 10,261 |
Fair Value Hierarchy, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Derivative Assets | 0 | 0 |
Assets held in trust for deferred compensation plan | 11,893 | 10,261 |
Derivative Liabilities | 0 | 0 |
Liabilities held in trust for deferred compensation plan | 11,893 | 10,261 |
Fair Value Hierarchy, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 22,291 | 22,225 |
Derivative Assets | 11,097 | 13,146 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Derivative Liabilities | 6,108 | 13,177 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Fair Value Hierarchy, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Derivative Assets | 930 | 420 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Derivative Liabilities | 139 | 162 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 933,711 | 945,871 |
Federal funds sold | 16,520 | 15,470 |
Interest earning deposits with banks | 80,860 | 272,275 |
Cash and due from banks | 433,747 | 494,690 |
Assets held in trust for deferred compensation plan | 11,893 | 10,261 |
Non-interest bearing deposits | 7,314,506 | 7,429,398 |
Savings, interest checking and money market deposits | 11,427,615 | 11,430,789 |
Federal Funds Purchased | 253,510 | 52,840 |
Liabilities held in trust for deferred compensation plan | 11,893 | 10,261 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value of Personal Real Estate Loans Held for Sale | 22,002 | 14,456 |
Available for sale securities | 8,489,165 | 8,686,650 |
Trading securities | 22,291 | 22,225 |
Derivative Assets | 11,097 | 13,146 |
Derivative Liabilities | 6,108 | 13,177 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 16,825 | 16,682 |
Non-marketable | 102,388 | 99,558 |
Securities purchased under agreements to resell | 625,000 | 725,000 |
Derivative Assets | 930 | 420 |
Time open and certificates of deposits | 2,083,541 | 2,240,908 |
Securities Sold under Agreements to Repurchase | 1,002,934 | 1,671,065 |
Other borrowings | 101,903 | 102,049 |
Derivative Liabilities | 139 | 162 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 4,852,408 | 4,776,365 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Construction And Land [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 848,152 | 791,236 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,727,349 | 2,643,374 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Personal [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,009,203 | 2,010,397 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,038,514 | 1,990,801 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Revolving Home Equity [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 403,387 | 413,634 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer Credit Card [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 740,865 | 776,465 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Overdrafts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 6,714 | 10,464 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 933,711 | 945,871 |
Federal funds sold | 16,520 | 15,470 |
Interest earning deposits with banks | 80,860 | 272,275 |
Cash and due from banks | 433,747 | 494,690 |
Assets held in trust for deferred compensation plan | 11,893 | 10,261 |
Non-interest bearing deposits | 7,314,506 | 7,429,398 |
Savings, interest checking and money market deposits | 11,427,615 | 11,430,789 |
Federal Funds Purchased | 253,510 | 52,840 |
Liabilities held in trust for deferred compensation plan | 11,893 | 10,261 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value of Personal Real Estate Loans Held for Sale | 22,002 | 14,456 |
Available for sale securities | 8,489,165 | 8,686,650 |
Trading securities | 22,291 | 22,225 |
Derivative Assets | 11,097 | 13,146 |
Derivative Liabilities | 6,108 | 13,177 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 16,825 | 16,682 |
Non-marketable | 102,388 | 99,558 |
Securities purchased under agreements to resell | 628,148 | 728,179 |
Derivative Assets | 930 | 420 |
Time open and certificates of deposits | 2,075,563 | 2,235,218 |
Securities Sold under Agreements to Repurchase | 1,003,183 | 1,671,227 |
Other borrowings | 102,907 | 104,298 |
Derivative Liabilities | 139 | 162 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 4,866,125 | 4,787,469 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Construction And Land [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 859,171 | 800,426 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,740,841 | 2,658,093 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Personal [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,022,671 | 2,005,227 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,021,537 | 1,974,784 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Revolving Home Equity [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 404,177 | 414,499 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer Credit Card [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 754,763 | 794,856 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Overdrafts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | $ 6,714 | $ 10,464 |