Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 01, 2019 | |
Document And Entity Information [Abstract] | ||
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | COMMERCE BANCSHARES INC /MO/ | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000022356 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 110,507,831 | |
Entity Small Business | false | |
Entity Emerging Growth Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Loans | $ 14,120,722 | $ 14,140,298 |
Allowance for loan losses | (160,682) | (159,932) |
Net loans | 13,960,040 | 13,980,366 |
Loans held for sale | 20,085 | 20,694 |
Investment securities: | ||
Debt Securities, Available-for-sale | 8,627,890 | 8,538,041 |
Trading | 30,427 | 27,059 |
Equity securities | 4,694 | 4,409 |
Other securities | 129,504 | 129,157 |
Total investment securities | 8,792,515 | 8,698,666 |
Federal funds sold and short-term securities purchased under agreements to resell | 250 | 3,320 |
Long-term securities purchased under agreements to resell | 700,000 | 700,000 |
Interest earning deposits with banks | 166,077 | 689,876 |
Cash and due from banks | 428,018 | 507,892 |
Premises and equipment, net | 362,679 | 333,119 |
Goodwill | 138,921 | 138,921 |
Other intangible assets, net | 8,511 | 8,794 |
Other assets | 456,375 | 382,194 |
Total assets | 25,033,471 | 25,463,842 |
Deposits: | ||
Non-interest bearing | 6,298,724 | 6,980,298 |
Savings, interest checking and money market | 11,799,346 | 11,685,239 |
Certificates of deposit of less than $100,000 | 599,289 | 586,091 |
Certificates of deposit of $100,000 and over | 1,276,994 | 1,072,031 |
Total deposits | 19,974,353 | 20,323,659 |
Federal funds purchased and securities sold under agreements to repurchase | 1,722,751 | 1,956,389 |
Other borrowings | 2,022 | 8,702 |
Other liabilities | 291,132 | 237,943 |
Total liabilities | 21,990,258 | 22,526,693 |
Commerce Bancshares, Inc. stockholders' equity: | ||
Preferred stock | 144,784 | 144,784 |
Common stock | 559,432 | 559,432 |
Capital surplus | 2,074,912 | 2,084,824 |
Retained earnings | 307,193 | 241,163 |
Treasury stock, at cost | (60,547) | (34,236) |
Accumulated other comprehensive income (loss) | 11,981 | (64,669) |
Total Commerce Bancshares, Inc. stockholders' equity | 3,037,755 | 2,931,298 |
Non-controlling interest | 5,458 | 5,851 |
Total equity | 3,043,213 | 2,937,149 |
Total liabilities and equity | $ 25,033,471 | $ 25,463,842 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Mortgage Loans: | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 8,908,000 | $ 13,529,000 |
Investment Securities: | ||
Available For Sale Securities Pledged To Secure Structured Repurchase Agreements | $ 312,276,000 | $ 463,325,000 |
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 | 111,886,450 | 111,886,450 |
Treasury stock, shares | 985,029 | 555,100 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
INTEREST INCOME | |||
Interest and fees on loans | $ 166,432 | $ 147,015 | |
Interest and fees on loans held for sale | 334 | 304 | |
Interest on investment securities | 55,422 | 53,242 | |
Interest on federal funds sold and short-term securities purchased under agreements to resell | 33 | 180 | |
Interest on long-term securities purchased under agreements to resell | 3,758 | 4,114 | |
Interest on deposits with banks | 1,886 | 1,140 | |
Total interest income | 227,865 | 205,995 | |
INTEREST EXPENSE | |||
Savings, interest checking and money market | 9,602 | 5,589 | |
Certificates of deposit of less than $100,000 | 1,259 | 662 | |
Certificates of deposit of $100,000 and over | 6,002 | 2,839 | |
Interest on federal funds purchased and securities sold under agreements to repurchase | 7,509 | 4,001 | |
Interest on other borrowings | 5 | 12 | |
Total interest expense | 24,377 | 13,103 | |
Net interest income | 203,488 | 192,892 | |
Provision for loan losses | 12,463 | 10,396 | |
Net interest income after provision for loan losses | 191,025 | 182,496 | |
NON-INTEREST INCOME | |||
Bank card transaction fees | 39,644 | 41,453 | |
Trust fee revenue | 37,256 | 36,062 | |
Deposit fee revenue | 23,018 | 22,982 | |
Capital market fees | 1,879 | 2,291 | |
Consumer brokerage services | 3,747 | 3,768 | |
Loan fees and sales | 3,309 | 2,862 | |
Other | 12,387 | 10,272 | |
Total non-interest income | 121,240 | 119,690 | |
INVESTMENT SECURITIES GAINS (LOSSES), NET | |||
Investment securities gains (losses), net | [1] | (925) | 5,410 |
NON-INTEREST EXPENSE | |||
Salaries and employee benefits | 122,128 | 115,894 | |
Net occupancy | 11,501 | 11,584 | |
Equipment | 4,471 | 4,431 | |
Supplies and communication | 5,162 | 5,313 | |
Data processing and software | 22,260 | 20,690 | |
Marketing | 5,900 | 4,805 | |
Deposit insurance | 1,710 | 3,457 | |
Community Service | 803 | 729 | |
Other | 17,490 | 15,374 | |
Total non-interest expense | 191,425 | 182,277 | |
Income before income taxes | 119,915 | 125,319 | |
Less income taxes | 22,860 | 23,258 | |
Net income | 97,055 | 102,061 | |
Less non-controlling interest expense (income) | (83) | 1,077 | |
Net income attributable to Commerce Bancshares, Inc. | 97,138 | 100,984 | |
Preferred Stock Dividends | 2,250 | 2,250 | |
Net Income (Loss) Available to Common Stockholders | $ 94,888 | $ 98,734 | |
Net income per common share - basic | $ 0.85 | $ 0.88 | |
Net income per common share - diluted | $ 0.85 | $ 0.88 | |
[1] | Available for sale debt securities, equity securities, and other securities |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 97,055 | $ 102,061 |
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 | 41 | 45 |
Net unrealized gains (losses) on other securities | 73,441 | (73,721) |
Pension loss amortization | 389 | 393 |
Unrealized losses on cash flow hedge derivatives | 2,779 | 0 |
Other comprehensive income (loss), net of tax | 76,650 | (73,283) |
Comprehensive income | 173,705 | 28,778 |
Non-controlling interest expense (income) | (83) | 1,077 |
Comprehensive income attributable to Commerce Bancshares, Inc | $ 173,788 | $ 27,701 |
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] |
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2018-02 [Member] | $ 0 | $ (2,932) | $ 2,932 | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2016-01 [Member] | 0 | 33,320 | (33,320) | |||||
Balance at Dec. 31, 2017 | 2,718,184 | $ 144,784 | $ 535,407 | $ 1,815,360 | 221,374 | $ (14,473) | 14,108 | $ 1,624 |
Net income | 102,061 | 100,984 | 1,077 | |||||
Other comprehensive income (loss) | (73,283) | (73,283) | ||||||
Distributions to non-controlling interest | (95) | (95) | ||||||
Purchase of treasury stock | (17,067) | (17,067) | ||||||
Issuance of stock under purchase and equity compensation plans | (6) | (15,865) | 15,859 | |||||
Stock-based compensation | 3,290 | 3,290 | ||||||
Cash dividends per share, Common Stock, Cash | (25,106) | (25,106) | ||||||
Dividends per share, Preferred Stock, Cash | (2,250) | (2,250) | ||||||
Balance at Mar. 31, 2018 | 2,705,728 | 144,784 | 535,407 | 1,802,785 | 325,390 | (15,681) | (89,563) | 2,606 |
Balance at Dec. 31, 2018 | 2,937,149 | 144,784 | 559,432 | 2,084,824 | 241,163 | (34,236) | (64,669) | 5,851 |
Net income | 97,055 | 97,138 | (83) | |||||
Other comprehensive income (loss) | 76,650 | 76,650 | ||||||
Distributions to non-controlling interest | (310) | (310) | ||||||
Purchase of treasury stock | (39,699) | (39,699) | ||||||
Issuance of stock under purchase and equity compensation plans | (4) | (13,392) | 13,388 | |||||
Stock-based compensation | 3,480 | 3,480 | ||||||
Cash dividends per share, Common Stock, Cash | (28,858) | (28,858) | ||||||
Dividends per share, Preferred Stock, Cash | (2,250) | (2,250) | ||||||
Balance at Mar. 31, 2019 | $ 3,043,213 | $ 144,784 | $ 559,432 | $ 2,074,912 | $ 307,193 | $ (60,547) | $ 11,981 | $ 5,458 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||
Common Stock, Dividends, per share, cash paid | $ 0.260 | $ 0.224 |
Preferred Stock, Dividends, per share, cash paid | $ 0.375 | $ 0.375 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
OPERATING ACTIVITIES: | |||
Net income | $ 97,055 | $ 102,061 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 12,463 | 10,396 | |
Provision for depreciation and amortization | 9,966 | 9,620 | |
Amortization of investment security premiums, net | 9,998 | 7,233 | |
Investment securities gains (losses), net | [1] | 925 | (5,410) |
Net gains on sales of loans held for sale | (1,929) | (1,147) | |
Origination of loans held for sale | (46,454) | (44,066) | |
Proceeds from sales and repayments of held for sale | 48,506 | 49,255 | |
Net (increase) decrease in trading securities | 4,632 | (18,543) | |
Stock-based compensation | 3,480 | 3,290 | |
(Increase) decrease in interest receivable | (1,568) | 744 | |
Increase (decrease) in interest payable | 2,708 | (732) | |
Increase (decrease) in income taxes payable | 20,479 | 22,076 | |
Other changes, net | (18,080) | 9,212 | |
Net cash provided by (used in) operating activities | 142,181 | 143,989 | |
INVESTING ACTIVITIES: | |||
Proceeds from sales of investment securities | [1] | 150,756 | 148,652 |
Proceeds from maturities/pay downs of investment securities | [1] | 252,824 | 358,690 |
Purchases of investment securities | [1] | (432,645) | (298,554) |
Net (increase) decrease in loans | 7,758 | 78,838 | |
Purchases of land, buildings and equipment | (11,283) | (4,982) | |
Sales of land, buildings and equipment | 1,268 | 718 | |
Net cash provided by (used in) investing activities | (31,322) | 283,362 | |
FINANCING ACTIVITIES: | |||
Net increase (decrease) in non-interest bearing, savings, interest checking and money market deposits | (620,589) | 54,986 | |
Net increase (decrease) in time open and C.D.'s | 218,161 | (9,961) | |
Net increase (decrease) in federal funds purchased and short-term securities sold under agreements to repurchase | (233,638) | (374,809) | |
Repayment of long-term borrowings | (54) | (74) | |
Proceeds from (Repayments of) Short-term Debt | (6,736) | 7,530 | |
Purchases of treasury stock | (39,699) | (17,067) | |
Issuance of stock under equity compensation plans | (4) | (6) | |
Cash dividends paid on common stock | (28,858) | (25,106) | |
Cash dividends paid on preferred stock | (2,250) | (2,250) | |
Net cash provided by (used in) financing activities | (713,667) | (366,757) | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | (602,808) | 60,594 | |
Cash, cash equivalents and restricted cash at beginning of year | 1,209,240 | 524,352 | |
Cash, cash equivalents and restricted cash at March 31 | 606,432 | 584,946 | |
Supplemental Cash Flow Information: | |||
Income tax payments, net | 1,350 | 147 | |
Interest paid on deposits and borrowings | 21,668 | 13,835 | |
Loans transferred to foreclosed real estate | $ 54 | $ 1,028 | |
[1] | Available for sale debt securities, equity securities, and other securities |
Consolidated Statements Of Ca_2
Consolidated Statements Of Cash Flows Cash Flow Additional Information - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract] | ||
Restricted Cash and Cash Equivalents | $ 12.1 | $ 10.2 |
Principles Of Consolidation And
Principles Of Consolidation And Presentation | 3 Months Ended |
Mar. 31, 2019 | |
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 2018 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 month period ended March 31, 2019 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 | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 and December 31, 2018 are as follows: (In thousands) March 31, 2019 December 31, 2018 Commercial: Business $ 5,175,541 $ 5,106,427 Real estate – construction and land 925,269 869,659 Real estate – business 2,859,614 2,875,788 Personal Banking: Real estate – personal 2,125,087 2,127,083 Consumer 1,893,212 1,955,572 Revolving home equity 364,010 376,399 Consumer credit card 772,396 814,134 Overdrafts 5,593 15,236 Total loans $ 14,120,722 $ 14,140,298 At March 31, 2019 , loans of $3.8 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 months ended March 31, 2019 and 2018 , respectively, follows: For the Three Months Ended March 31 (In thousands) Commercial Personal Banking Total Balance at January 1 $ 92,869 $ 67,063 $ 159,932 Provision 1,168 11,295 12,463 Deductions: Loans charged off 527 14,204 14,731 Less recoveries on loans 133 2,885 3,018 Net loan charge-offs 394 11,319 11,713 Balance March 31, 2019 $ 93,643 $ 67,039 $ 160,682 Balance at January 1 $ 93,704 $ 65,828 $ 159,532 Provision (894 ) 11,290 10,396 Deductions: Loans charged off 366 13,365 13,731 Less recoveries on loans 621 2,714 3,335 Net loan charge-offs (recoveries) (255 ) 10,651 10,396 Balance March 31, 2018 $ 93,065 $ 66,467 $ 159,532 The following table shows the balance in the allowance for loan losses and the related loan balance at March 31, 2019 and December 31, 2018 , disaggregated on the basis of impairment methodology. Impaired loans evaluated under Accounting Standards Codification (ASC) 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans deemed to have similar risk characteristics, which 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 March 31, 2019 Commercial $ 1,720 $ 66,739 $ 91,923 $ 8,893,685 Personal Banking 923 17,433 66,116 5,142,865 Total $ 2,643 $ 84,172 $ 158,039 $ 14,036,550 December 31, 2018 Commercial $ 1,780 $ 61,496 $ 91,089 $ 8,790,378 Personal Banking 916 17,120 66,147 5,271,304 Total $ 2,696 $ 78,616 $ 157,236 $ 14,061,682 Impaired loans The table below shows the Company’s investment in impaired loans at March 31, 2019 and December 31, 2018 . 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 below. (In thousands) Mar. 31, 2019 Dec. 31, 2018 Non-accrual loans $ 12,167 $ 12,536 Restructured loans (accruing) 72,005 66,080 Total impaired loans $ 84,172 $ 78,616 The following table provides additional information about impaired loans held by the Company at March 31, 2019 and December 31, 2018 , 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 March 31, 2019 With no related allowance recorded: Business $ 8,381 $ 14,376 $ — $ 8,381 $ 14,376 $ — With an allowance recorded: Business $ 46,736 $ 46,873 $ 1,241 Real estate – construction and land 414 419 11 Real estate – business 11,208 11,809 468 Real estate – personal 4,380 5,902 243 Consumer 5,365 5,365 34 Revolving home equity 39 39 1 Consumer credit card 7,649 7,649 645 $ 75,791 $ 78,056 $ 2,643 Total $ 84,172 $ 92,432 $ 2,643 December 31, 2018 With no related allowance recorded: Business $ 8,725 $ 14,477 $ — $ 8,725 $ 14,477 $ — With an allowance recorded: Business $ 40,286 $ 40,582 $ 1,223 Real estate – construction and land 416 421 11 Real estate – business 12,069 12,699 546 Real estate – personal 4,461 6,236 266 Consumer 5,510 5,510 38 Revolving home equity 40 40 1 Consumer credit card 7,109 7,109 611 $ 69,891 $ 72,597 $ 2,696 Total $ 78,616 $ 87,074 $ 2,696 Total average impaired loans for the three month periods ended March 31, 2019 and 2018 , respectively, are shown in the table below. (In thousands) Commercial Personal Banking Total Average Impaired Loans: For the three months ended March 31, 2019 Non-accrual loans $ 10,347 $ 1,973 $ 12,320 Restructured loans (accruing) 53,607 15,437 69,044 Total $ 63,954 $ 17,410 $ 81,364 For the three months ended March 31, 2018 Non-accrual loans $ 8,523 $ 2,928 $ 11,451 Restructured loans (accruing) 79,258 18,773 98,031 Total $ 87,781 $ 21,701 $ 109,482 The table below shows interest income recognized during the three month periods ended March 31, 2019 and 2018 , 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 below. For the Three Months Ended March 31 (In thousands) 2019 2018 Interest income recognized on impaired loans: Business $ 1,008 $ 760 Real estate – construction and land 6 24 Real estate – business 151 113 Real estate – personal 35 111 Consumer 80 80 Revolving home equity 1 2 Consumer credit card 146 128 Total $ 1,427 $ 1,218 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 March 31, 2019 and December 31, 2018 . (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 March 31, 2019 Commercial: Business $ 5,154,124 $ 12,178 $ 670 $ 8,569 $ 5,175,541 Real estate – construction and land 924,028 1,237 — 4 925,269 Real estate – business 2,844,335 13,412 121 1,746 2,859,614 Personal Banking: Real estate – personal 2,113,316 7,335 2,588 1,848 2,125,087 Consumer 1,866,038 24,905 2,269 — 1,893,212 Revolving home equity 362,373 1,167 470 — 364,010 Consumer credit card 751,639 10,220 10,537 — 772,396 Overdrafts 5,315 278 — — 5,593 Total $ 14,021,168 $ 70,732 $ 16,655 $ 12,167 $ 14,120,722 December 31, 2018 Commercial: Business $ 5,086,912 $ 10,057 $ 473 $ 8,985 $ 5,106,427 Real estate – construction and land 867,692 1,963 — 4 869,659 Real estate – business 2,867,347 6,704 22 1,715 2,875,788 Personal Banking: Real estate – personal 2,118,045 6,041 1,165 1,832 2,127,083 Consumer 1,916,320 35,608 3,644 — 1,955,572 Revolving home equity 374,830 875 694 — 376,399 Consumer credit card 792,334 11,140 10,660 — 814,134 Overdrafts 14,937 299 — — 15,236 Total $ 14,038,417 $ 72,687 $ 16,658 $ 12,536 $ 14,140,298 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 March 31, 2019 Pass $ 4,954,297 $ 876,805 $ 2,761,215 $ 8,592,317 Special mention 119,582 47,397 49,151 216,130 Substandard 93,093 1,063 47,502 141,658 Non-accrual 8,569 4 1,746 10,319 Total $ 5,175,541 $ 925,269 $ 2,859,614 $ 8,960,424 December 31, 2018 Pass $ 4,915,042 $ 866,527 $ 2,777,374 $ 8,558,943 Special mention 84,391 1,917 51,845 138,153 Substandard 98,009 1,211 44,854 144,074 Non-accrual 8,985 4 1,715 10,704 Total $ 5,106,427 $ 869,659 $ 2,875,788 $ 8,851,874 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 section on "Delinquent and non-accrual loans" . 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 real estate loans for which FICO scores are not obtained because the loans generally pertain to commercial customer activities and are often underwritten with other collateral considerations. These loans totaled $196.4 million at March 31, 2019 and $201.7 million at December 31, 2018 . The table also excludes consumer loans related to the Company's patient healthcare loan program, which totaled $167.2 million at March 31, 2019 and $170.3 million at December 31, 2018 . As the healthcare loans are guaranteed by the hospital, customer FICO scores are not obtained for these loans. The personal real estate loans and consumer loans excluded below totaled less than 8% of the Personal Banking portfolio. For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at March 31, 2019 and December 31, 2018 by FICO score. Personal Banking Loans % of Loan Category Real Estate - Personal Consumer Revolving Home Equity Consumer Credit Card March 31, 2019 FICO score: Under 600 1.1 % 3.4 % 1.2 % 5.4 % 600 - 659 1.7 5.3 1.9 14.0 660 - 719 9.9 18.0 9.5 35.6 720 - 779 25.3 24.3 22.8 26.3 780 and over 62.0 49.0 64.6 18.7 Total 100.0 % 100.0 % 100.0 % 100.0 % December 31, 2018 FICO score: Under 600 1.1 % 3.1 % 0.8 % 4.4 % 600 - 659 1.8 4.8 1.7 14.0 660 - 719 9.4 16.1 9.1 34.8 720 - 779 24.7 25.7 24.0 26.4 780 and over 63.0 50.3 64.4 20.4 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, as shown in the table below. 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. Commercial performing restructured loans are primarily comprised of certain business, construction and business real estate loans classified as substandard, but renewed at rates judged to be non- market. These 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 and other small consumer loans under various debt management and assistance programs. Modifications to these loans generally involve removing the available line of credit, placing loans on amortizing status, and lowering the contractual interest rate. The Company also classified as consumer bankruptcy certain personal real estate, revolving home equity, and consumer loans as troubled debt restructurings because they were not reaffirmed by the borrower in bankruptcy proceedings. Interest on these loans is being recognized on an accrual basis, as the borrowers are continuing to make payments. Other consumer loans classified as troubled debt restructurings consist of various other workout arrangements with consumer customers. (In thousands) March 31, 2019 December 31, 2018 Accruing restructured loans: Commercial $ 56,524 $ 50,904 Assistance programs 7,960 7,410 Consumer bankruptcy 3,946 4,103 Other consumer 3,575 3,663 Non-accrual loans 9,352 9,759 Total troubled debt restructurings $ 81,357 $ 75,839 The table below shows the balance of troubled debt restructurings by loan classification at March 31, 2019 , 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) March 31, 2019 Balance 90 days past due at any time during previous 12 months Commercial: Business $ 54,928 $ — Real estate - construction and land 411 — Real estate - business 9,462 — Personal Banking: Real estate - personal 3,503 217 Consumer 5,365 47 Revolving home equity 39 — Consumer credit card 7,649 685 Total troubled debt restructurings $ 81,357 $ 949 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. However, the effects of modifications to loans under various debt management and assistance programs were estimated to decrease interest income by approximately $1.0 million on an annual, pre-tax basis, compared to amounts contractually owed. Other modifications to consumer loans mainly involve extensions and other small modifications that did not include the forgiveness of principal or interest. 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 having no other concessions granted other than being renewed at non-market interest rates are judged to 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 $2.7 million at March 31, 2019 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 11. The loans are primarily sold to FNMA, FHLMC, and GNMA. At March 31, 2019 , the fair value of these loans was $8.9 million , and the unpaid principal balance was $8.5 million . The Company also designates certain 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 March 31, 2019 totaled $11.2 million . At March 31, 2019 , 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 $737 thousand and $1.4 million at March 31, 2019 and December 31, 2018 , respectively. Personal property acquired in repossession, generally autos, marine and recreational vehicles (RV), totaled $2.6 million and $2.0 million at March 31, 2019 and December 31, 2018 , 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 | 3 Months Ended |
Mar. 31, 2019 | |
Investment Securities [Abstract] | |
Investment Securities | Investment Securities Investment securities consisted of the following at March 31, 2019 and December 31, 2018 . March 31, 2019 December 31, 2018 Available for sale debt securities $ 8,627,890 $ 8,538,041 Trading debt securities 30,427 27,059 Equity securities: Readily determinable fair value 2,808 2,585 No readily determinable fair value 1,886 1,824 Other: Federal Reserve Bank stock 33,627 33,498 Federal Home Loan Bank stock 10,000 10,000 Private equity investments 85,877 85,659 Total investment securities $ 8,792,515 $ 8,698,666 The Company has elected to measure equity securities with no readily determinable fair value at cost minus impairment, if any, plus or minus changes resulting from observable price changes for the identical or similar investment of the same issuer. The Company did not record any impairment or other adjustments to the carrying amount of these investments during the period. Other investment securities include Federal Reserve Bank (FRB) stock, Federal Home Loan Bank (FHLB) stock, and investments in portfolio concerns held by the Company's private equity subsidiaries. FRB stock and FHLB stock are held for debt and regulatory purposes. Investment in FRB 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. The private equity investments, in the absence of readily ascertainable market values, are carried at estimated fair value. The majority of the Company’s investment portfolio is comprised of available for sale debt securities, which are carried at fair value with changes in fair value reported in accumulated other comprehensive income (AOCI). A summary of the available for sale debt securities by maturity groupings as of March 31, 2019 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 commercial and 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 $ 29,484 $ 29,341 After 1 but within 5 years 588,651 597,792 After 5 but within 10 years 249,143 250,788 Total U.S. government and federal agency obligations 867,278 877,921 Government-sponsored enterprise obligations: Within 1 year 36,442 36,176 After 1 but within 5 years 85,155 84,759 After 5 but within 10 years 34,986 34,974 After 10 years 42,913 42,070 Total government-sponsored enterprise obligations 199,496 197,979 State and municipal obligations: Within 1 year 87,817 88,067 After 1 but within 5 years 663,990 675,122 After 5 but within 10 years 440,363 454,085 After 10 years 56,231 56,926 Total state and municipal obligations 1,248,401 1,274,200 Mortgage and asset-backed securities: Agency mortgage-backed securities 3,416,497 3,412,399 Non-agency mortgage-backed securities 1,056,738 1,060,008 Asset-backed securities 1,470,541 1,470,516 Total mortgage and asset-backed securities 5,943,776 5,942,923 Other debt securities: Within 1 year 22,497 22,412 After 1 but within 5 years 245,030 244,892 After 5 but within 10 years 67,995 67,563 Total other debt securities 335,522 334,867 Total available for sale debt securities $ 8,594,473 $ 8,627,890 Investments in U.S. government and federal agency obligations include U.S. Treasury inflation-protected securities, which totaled $446.9 million , at fair value, at March 31, 2019 . 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 $14.5 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. For debt securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in AOCI, by security type. (In thousands) Amortized Cost Gross Gross Fair Value March 31, 2019 U.S. government and federal agency obligations $ 867,278 $ 11,844 $ (1,201 ) $ 877,921 Government-sponsored enterprise obligations 199,496 258 (1,775 ) 197,979 State and municipal obligations 1,248,401 26,485 (686 ) 1,274,200 Mortgage and asset-backed securities: Agency mortgage-backed securities 3,416,497 19,977 (24,075 ) 3,412,399 Non-agency mortgage-backed securities 1,056,738 9,833 (6,563 ) 1,060,008 Asset-backed securities 1,470,541 5,536 (5,561 ) 1,470,516 Total mortgage and asset-backed securities 5,943,776 35,346 (36,199 ) 5,942,923 Other debt securities 335,522 645 (1,300 ) 334,867 Total $ 8,594,473 $ 74,578 $ (41,161 ) $ 8,627,890 December 31, 2018 U.S. government and federal agency obligations $ 914,486 $ 4,545 $ (11,379 ) $ 907,652 Government-sponsored enterprise obligations 199,470 55 (3,747 ) 195,778 State and municipal obligations 1,322,785 10,284 (5,030 ) 1,328,039 Mortgage and asset-backed securities: Agency mortgage-backed securities 3,253,433 9,820 (48,268 ) 3,214,985 Non-agency mortgage-backed securities 1,053,854 6,641 (12,779 ) 1,047,716 Asset-backed securities 1,518,976 3,849 (11,211 ) 1,511,614 Total mortgage and asset-backed securities 5,826,263 20,310 (72,258 ) 5,774,315 Other debt securities 339,595 72 (7,410 ) 332,257 Total $ 8,602,599 $ 35,266 $ (99,824 ) $ 8,538,041 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 Baa3 (Moody's) or BBB- (Standard & Poor's), whose fair values have fallen more than 20% below purchase price for an extended period of time, or who 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 March 31, 2019 , the fair value of securities on this watch list was $55.0 million compared to $57.7 million at December 31, 2018 . As of March 31, 2019 , the Company had recorded other-than-temporary impairment (OTTI) on certain non-agency mortgage-backed securities with a current par value of $22.2 million . These securities, which are part of the watch list mentioned above, had an aggregate fair value of $17.3 million at March 31, 2019 . The cumulative credit-related portion of the impairment on these securities, which was recorded in earnings, totaled $14.1 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 March 31, 2019 included the following: Significant Inputs Range Prepayment CPR 0% - 37% Projected cumulative default 8% - 50% Credit support 0% - 20% Loss severity 11% - 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 Three Months Ended March 31 (In thousands) 2019 2018 Cumulative OTTI credit losses at January 1 $ 14,092 $ 14,199 Credit losses on debt securities for which impairment was not previously recognized — 58 Credit losses on debt securities for which impairment was previously recognized — 10 Increase in expected cash flows that are recognized over remaining life of security (33 ) (54 ) Cumulative OTTI credit losses at March 31 $ 14,059 $ 14,213 Debt securities with unrealized losses recorded in AOCI 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 March 31, 2019 U.S. government and federal agency obligations $ 3,200 $ 26 $ 114,835 $ 1,175 $ 118,035 $ 1,201 Government-sponsored enterprise obligations 34,974 12 139,959 1,763 174,933 1,775 State and municipal obligations 13,907 3 110,737 683 124,644 686 Mortgage and asset-backed securities: Agency mortgage-backed securities 156,031 326 1,706,133 23,749 1,862,164 24,075 Non-agency mortgage-backed securities 47,338 41 639,311 6,522 686,649 6,563 Asset-backed securities 219,611 931 726,118 4,630 945,729 5,561 Total mortgage and asset-backed securities 422,980 1,298 3,071,562 34,901 3,494,542 36,199 Other debt securities 35,967 32 170,424 1,268 206,391 1,300 Total $ 511,028 $ 1,371 $ 3,607,517 $ 39,790 $ 4,118,545 $ 41,161 December 31, 2018 U.S. government and federal agency obligations $ 317,699 $ 6,515 $ 116,728 $ 4,864 $ 434,427 $ 11,379 Government-sponsored enterprise obligations — — 188,846 3,747 188,846 3,747 State and municipal obligations 157,838 704 257,051 4,326 414,889 5,030 Mortgage and asset-backed securities: Agency mortgage-backed securities 330,933 1,502 1,927,268 46,766 2,258,201 48,268 Non-agency mortgage-backed securities 207,506 1,085 657,685 11,694 865,191 12,779 Asset-backed securities 147,997 728 813,427 10,483 961,424 11,211 Total mortgage and asset-backed securities 686,436 3,315 3,398,380 68,943 4,084,816 72,258 Other debt securities 51,836 564 260,682 6,846 312,518 7,410 Total $ 1,213,809 $ 11,098 $ 4,221,687 $ 88,726 $ 5,435,496 $ 99,824 The available for sale debt portfolio included $4.1 billion of securities that were in a loss position at March 31, 2019 , compared to $5.4 billion at December 31, 2018 . The total amount of unrealized loss on these securities was $41.2 million at March 31, 2019 , a decrease of $58.7 million compared to the loss at December 31, 2018 . This decrease in losses was mainly due to a declining interest rate environment at March 31, 2019. 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 Three Months Ended March 31 (In thousands) 2019 2018 Proceeds from sales of securities: Available for sale debt securities $ 150,756 $ 148,637 Equity securities — 15 Total proceeds $ 150,756 $ 148,652 Investment securities gains (losses), net: Available for sale debt securities: Gains realized on sales $ 1,386 $ 212 Losses realized on sales (692 ) — Other-than-temporary impairment recognized on debt securities — (68 ) Equity securities: Gains realized on sales — 14 Fair value adjustments, net 223 947 Other: Fair value adjustments, net (1,842 ) 4,305 Total investment securities gains (losses), net $ (925 ) $ 5,410 Net gains and losses on investment securities for the three months ended March 31, 2019 included losses in fair value of $1.8 million on private equity investments, gains of $223 thousand on equity securities, and net gains of $694 thousand realized on sales of available for sale securities. At March 31, 2019 , securities totaling $4.0 billion in fair value were pledged to secure public fund deposits, securities sold under agreements to repurchase, trust funds, and borrowings at the FRB and FHLB. Securities pledged under agreements pursuant to which the collateral may be sold or re-pledged by the secured parties approximated $312.3 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 | 3 Months Ended |
Mar. 31, 2019 | |
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. March 31, 2019 December 31, 2018 (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 $ (29,100 ) $ — $ 2,170 $ 31,270 $ (28,954 ) $ — $ 2,316 Mortgage servicing rights 10,658 (4,057 ) (260 ) 6,341 10,339 (3,861 ) — 6,478 Total $ 41,928 $ (33,157 ) $ (260 ) $ 8,511 $ 41,609 $ (32,815 ) $ — $ 8,794 Aggregate amortization expense on intangible assets was $342 thousand and $321 thousand for the three month periods ended March 31, 2019 and 2018 , 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 March 31, 2019 . 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) 2019 $ 1,381 2020 1,215 2021 1,032 2022 882 2023 736 Changes in the carrying amount of goodwill and net other intangible assets for the three month period ended March 31, 2019 are as follows: (In thousands) Goodwill Core Deposit Premium Mortgage Servicing Rights Balance January 1, 2019 $ 138,921 $ 2,316 $ 6,478 Originations — — 319 Amortization — (146 ) (196 ) Impairment — — (260 ) Balance March 31, 2019 $ 138,921 $ 2,170 $ 6,341 Goodwill allocated to the Company’s operating segments at March 31, 2019 and December 31, 2018 is shown below. (In thousands) Consumer segment $ 70,721 Commercial segment 67,454 Wealth segment 746 Total goodwill $ 138,921 |
Guarantees
Guarantees | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 , that net liability was $2.2 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 $325.6 million at March 31, 2019 . 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 March 31, 2019 , 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 2 to 11 years. At March 31, 2019 , the fair value of the Company's guarantee liabilities for RPAs was $110 thousand , and the notional amount of the underlying swaps was $86.6 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. |
Leases Leases
Leases Leases | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Leases | Leases The Company adopted ASU 2016-02, "Leases", and its related amendments on January 1, 2019 using a modified retrospective approach. The Company's leasing activities include leasing certain real estate and equipment, providing lease financing to commercial customers, and leasing office space to third parties. The Company adopted the package of practical expedients permitted within the new standard, along with the lease component expedient for all lease classes and the disclosure expedient. The Company uses the FHLB fixed-advance rate at lease commencement or remeasurement event based on the remaining lease term to calculate the liability for each lease. Lessee The Company primarily has operating leases for branches, office space, ATM locations, and certain equipment. As of March 31, 2019 , the right-of-use asset, reported within premises and equipment, net, and lease liability, reported within other liabilities, recognized on the Company's consolidated balance sheets totaled $27.1 million and $27.8 million , respectively. For leases with a term of 12 months or less, an election was made not to recognize lease assets and lease liabilities for all asset classes, and to recognize lease expense for these leases on a straight-line basis over the lease term. Total lease cost for the three months ended March 31, 2019 was $1.8 million . The Company's leases have remaining terms of 1 year to 35 years, most of which contain renewal options. However, the renewal options are generally not included in the leased asset or liability because exercising the options are uncertain. The maturities of operating leases are included in the table below. (in thousands) Operating Leases (a) 2019 (excluding the three months ended March 31, 2019) $ 4,279 2020 5,034 2021 4,203 2022 3,725 2023 3,406 After 2023 14,878 Total lease payments $ 35,525 Less: Interest (b) 7,719 Present value of lease liabilities $ 27,806 (a) Excludes $2.1 million of legally binding minimum lease payments for operating leases signed but not yet commenced. (b) Calculated using the interest rate for each lease. The following table presents the average lease term and discount rate of operating leases. March 31, 2019 Weighted-average remaining lease term 12.1 years Weighted-average discount rate 3.76 % Supplemental cash flow information related to operating leases is included in the table below. For the Three Months Ended March 31 (in thousands) 2019 Operating cash paid toward lease liabilities $ 1,491 Leased assets obtained in exchange for new lease liabilities $ 1,022 The Company adopted the new lease standard using the effective date as the date of initial application as noted above, and as required, the table below provides the disclosure for periods prior to adoption. Future minimum lease payments as of December 31, 2018 are shown below, which include leases that have not yet commenced. (in thousands) Year Ended December 31 Total 2019 $ 5,763 2020 4,817 2021 4,055 2022 3,598 2023 3,273 After 15,161 Total minimum lease payments $ 36,667 Lessor The Company has net investments in direct financing and sales-type leases to commercial, industrial, and tax-exempt entities. These leases are included within business loans on the Company's consolidated balance sheets. The Company primarily leases various types of equipment, trucks and trailers, and office furniture and fixtures. Lease agreements may include options to renew or for the lessee to purchase the leased equipment at the end of the lease term. The Company has elected to adopt the lease component expedient in which the lease and nonlease components are combined into the total lease receivable. The Company also leases office space in buildings owned by the Company to third parties and are classified as operating leases. The leases may include options to expand the leased space or renew the lease, and currently the leases have remaining terms of 1 year to 9 years. The following table provides the components of lease income. For the Three Months Ended March 31 (in thousands) 2019 Direct financing and sales-type leases 5,862 Operating leases (a) 1,906 Total lease income $ 7,768 (a) Includes rent of $19 thousand from Tower Properties Company, a related party. The following table presents the components of the net investments in direct financing and sales-type leases. (in thousands) March 31, 2019 Lease payment receivable $ 716,103 Unguaranteed residual assets 49,347 Total net investments in direct financing and sales-type leases $ 765,450 Deferred origination cost 3,071 Total net investment included within business loans $ 768,521 The maturities of lease receivables are included in the table below. (in thousands) Direct Financing and Sale-Type Leases Operating Leases Total 2019 (excluding the three months ended March 31, 2019) $ 164,086 $ 5,555 $ 169,641 2020 182,611 7,051 189,662 2021 139,036 6,994 146,030 2022 101,070 13,329 114,399 2023 70,967 5,127 76,094 After 2023 121,057 13,467 134,524 Total lease receipts 778,827 $ 51,523 $ 830,350 Less: Net present value adjustment 62,724 Present value of lease receipts $ 716,103 |
Pension
Pension | 3 Months Ended |
Mar. 31, 2019 | |
Pension [Abstract] | |
Pension | Pension The amount of net pension cost is shown in the table below: For the Three Months Ended March 31 (In thousands) 2019 2018 Service cost - benefits earned during the period $ 159 $ 153 Interest cost on projected benefit obligation 1,065 950 Expected return on plan assets (1,196 ) (1,437 ) Amortization of prior service cost (68 ) (68 ) Amortization of unrecognized net loss 586 592 Net periodic pension cost $ 546 $ 190 All benefits accrued under the Company’s defined benefit pension plan have been frozen since January 1, 2011. During the first three months of 2019 , 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. |
Common Stock
Common Stock | 3 Months Ended |
Mar. 31, 2019 | |
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 13. For the Three Months Ended March 31 (In thousands, except per share data) 2019 2018 Basic income per common share: Net income attributable to Commerce Bancshares, Inc. $ 97,138 $ 100,984 Less preferred stock dividends 2,250 2,250 Net income available to common shareholders 94,888 98,734 Less income allocated to nonvested restricted stock 944 1,121 Net income allocated to common stock $ 93,944 $ 97,613 Weighted average common shares outstanding 110,011 110,916 Basic income per common share $ .85 $ .88 Diluted income per common share: Net income available to common shareholders $ 94,888 $ 98,734 Less income allocated to nonvested restricted stock 943 1,118 Net income allocated to common stock $ 93,945 $ 97,616 Weighted average common shares outstanding 110,011 110,916 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 290 348 Weighted average diluted common shares outstanding 110,301 111,264 Diluted income per common share $ .85 $ .88 Unexercised stock appreciation rights of 282 thousand and 276 thousand were excluded from the computation of diluted income per common share for the three month periods ended March 31, 2019 and 2018 , respectively, because their inclusion would have been anti-dilutive. In the Annual Meeting of the Shareholders, held on April 17, 2019, a proposal to increase the shares of Company common stock authorized for issuance under its articles of incorporation was approved. This approval increased the authorized shares from 120,000,000 to 140,000,000 . * All prior year share and per share amounts in this note have been restated for the 5% common stock dividend distributed in December 2018. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2019 | |
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 debt 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. Another 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. The remaining component is gains and losses in fair value on certain interest rate floors that have been designated as cash flow hedging instruments. Unrealized Gains (Losses) on Securities (1) Pension Loss Unrealized Gains (Losses) on Cash Flow Hedge Derivatives (2) Total Accumulated Other Comprehensive Income (Loss) (In thousands) OTTI Other Balance January 1, 2019 $ 3,861 $ (52,278 ) $ (23,107 ) $ 6,855 $ (64,669 ) Other comprehensive income before reclassifications to current earnings 55 98,614 — 3,027 101,696 Amounts reclassified to current earnings from accumulated other comprehensive income — (694 ) 518 678 502 Current period other comprehensive income, before tax 55 97,920 518 3,705 102,198 Income tax expense (14 ) (24,479 ) (129 ) (926 ) (25,548 ) Current period other comprehensive income, net of tax 41 73,441 389 2,779 76,650 Balance March 31, 2019 $ 3,902 $ 21,163 $ (22,718 ) $ 9,634 $ 11,981 Balance January 1, 2018 $ 3,411 $ 30,326 $ (19,629 ) $ — $ 14,108 ASU 2018-02 Reclassification of tax rate change 715 6,359 (4,142 ) — 2,932 ASU 2016-01 Reclassification of unrealized gain on equity securities — (33,320 ) — — (33,320 ) Other comprehensive loss before reclassifications to current earnings (8 ) (98,081 ) — — (98,089 ) Amounts reclassified to current earnings from accumulated other comprehensive income 68 (212 ) 524 — 380 Current period other comprehensive income (loss), before tax 60 (98,293 ) 524 — (97,709 ) Income tax (expense) benefit (15 ) 24,572 (131 ) — 24,426 Current period other comprehensive income (loss), net of tax 45 (73,721 ) 393 — (73,283 ) Transfer of unrealized gain on securities for which impairment was not previously recognized 12 (12 ) — — — Balance March 31, 2018 $ 4,183 $ (70,368 ) $ (23,378 ) $ — $ (89,563 ) (1) The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings 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 to current earnings are included in "interest and fees on loans" in the consolidated statements of income. The requirement to revalue deferred tax assets and liabilities in the period of enactment stranded the effects of the tax rate change, mandated by the Tax Cuts and Jobs Act, in accumulated other comprehensive income. In response, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which the Company adopted on January 1, 2018. This ASU allowed the reclassification of the stranded tax effects from accumulated other comprehensive income (as shown in the table above) to retained earnings. New accounting guidance, which was effective January 1, 2018, required the reclassification of unrealized gains on equity securities from accumulated other comprehensive income to retained earnings (also shown above). |
Segments
Segments | 3 Months Ended |
Mar. 31, 2019 | |
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 170 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 changes are reflected in prior year information presented below. (In thousands) Consumer Commercial Wealth Segment Totals Other/Elimination Consolidated Totals Three Months Ended March 31, 2019 Net interest income $ 76,897 $ 85,848 $ 11,676 $ 174,421 $ 29,067 $ 203,488 Provision for loan losses (11,049 ) (618 ) 33 (11,634 ) (829 ) (12,463 ) Non-interest income 29,171 47,915 44,332 121,418 (178 ) 121,240 Investment securities losses, net — — — — (925 ) (925 ) Non-interest expense (73,508 ) (76,838 ) (30,892 ) (181,238 ) (10,187 ) (191,425 ) Income before income taxes $ 21,511 $ 56,307 $ 25,149 $ 102,967 $ 16,948 $ 119,915 Three Months Ended March 31, 2018 Net interest income $ 71,021 $ 82,584 $ 11,445 $ 165,050 $ 27,842 $ 192,892 Provision for loan losses (10,373 ) 180 (64 ) (10,257 ) (139 ) (10,396 ) Non-interest income 30,216 49,209 42,103 121,528 (1,838 ) 119,690 Investment securities gains, net — — — — 5,410 5,410 Non-interest expense (69,919 ) (72,778 ) (31,825 ) (174,522 ) (7,755 ) (182,277 ) Income before income taxes $ 20,945 $ 59,195 $ 21,659 $ 101,799 $ 23,520 $ 125,319 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 | 3 Months Ended |
Mar. 31, 2019 | |
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. At March 31, 2019 , with the exception of the interest rate floors (discussed below), 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) March 31, 2019 December 31, 2018 Interest rate swaps $ 2,007,799 $ 2,006,280 Interest rate floors 1,000,000 1,000,000 Interest rate caps 61,696 62,163 Credit risk participation agreements 142,266 143,460 Foreign exchange contracts 6,710 6,206 Mortgage loan commitments 22,496 14,544 Mortgage loan forward sale contracts 2,657 5,768 Forward TBA contracts 33,503 16,500 Total notional amount $ 3,277,127 $ 3,254,921 The largest group of notional amounts relate to interest rate swap contracts sold to commercial customers who wish to modify their interest rate sensitivity. The customers are engaged in a variety of businesses, including real estate, manufacturing, retail product distribution, education, and retirement communities. These customer 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 clearing agency who becomes the Company's 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. As of March 31, 2019 , the Company has entered into interest rate floors with a combined notional value of $1.0 billion , to hedge the risk of declining interest rates on certain floating rate commercial loans. The premiums paid for these floors totaled $20.7 million with purchased strike rates that ranged from 2.50% to 2.25% . As of March 31, 2019 , the maximum length of time over which the Company is hedging its exposure to the variability in future cash flows is approximately 6.4 years, and the floors are forward starting, beginning in 2020. The interest rate floors qualified and were designated as cash flow hedges and were assessed for effectiveness using regression analysis. The change in the fair value of the interest rate floors are recorded in AOCI, net of the amortization of the premium paid, which is recorded against interest and fees on loans in the consolidated statements of income. As of March 31, 2019 , net deferred gains on the interest rate floors totaled $12.8 million (pre-tax) and was recorded in AOCI in the consolidated balance sheet. As of March 31, 2019 , it is expected that $2.8 million (pre-tax) of interest rate floor premium amortization will be reclassified from AOCI into earnings over the next twelve months. In April 2019, the Company entered into an additional interest rate floor with a notional value of $500.0 million and a premium paid of $10.7 million with a purchased strike rate of 2.0% . The floor is forward starting, beginning in 2020 and matures in 2026. 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 contracts. 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. Information about the valuation methods used to determine fair value is provided in Note 16 on Fair Value Measurements in the 2018 Annual Report on Form 10-K. The Company's policy is to present its derivative assets and derivative liabilities on a gross basis in its consolidated balance sheets, and these are reported in other assets and other liabilities. Effective January 2017, certain collateral posted to and from the Company's clearing counterparty has been offset against the fair values of cleared swaps, such that at March 31, 2019 in the table below, the positive fair values of cleared swaps were reduced by $3.8 million and the negative fair values of cleared swaps were reduced by $12.4 million . At December 31, 2018 , the positive fair values of cleared swaps were reduced by $8.1 million and the negative fair values of cleared swaps were reduced by $6.5 million . Asset Derivatives Liability Derivatives Mar. 31, 2019 Dec. 31, 2018 Mar. 31, 2019 Dec. 31, 2018 (In thousands ) Fair Value Fair Value Derivatives designated as hedging instruments: Interest rate floors $ 32,058 $ 29,031 $ — $ — Total derivatives designated as hedging instruments $ 32,058 $ 29,031 $ — $ — Derivative instruments not designated as hedging instruments: Interest rate swaps $ 18,641 $ 11,537 $ (9,970 ) $ (13,110 ) Interest rate caps 8 24 (8 ) (24 ) Credit risk participation agreements 92 47 (110 ) (93 ) Foreign exchange contracts 44 20 (16 ) (8 ) Mortgage loan commitments 823 536 — — Mortgage loan forward sale contracts 22 15 — (8 ) Forward TBA contracts 3 — (196 ) (178 ) Total derivatives not designated as hedging instruments $ 19,633 $ 12,179 $ (10,300 ) $ (13,421 ) Total $ 51,691 $ 41,210 $ (10,300 ) $ (13,421 ) The pre-tax effects of derivative instruments on the consolidated statements of income are shown in the tables below. Amount of Gain or (Loss) Recognized in OCI Location of Gain (Loss) Reclassified from AOCI into Income Amount of Gain (Loss) Reclassified from AOCI into Income For the Three Months Ended For the Three Months Ended March 31, 2019 March 31, 2019 (In thousands) Total Included Component Excluded Component Total Included Component Excluded Component Derivatives in cash flow hedging relationships: Interest rate floors* $ 3,027 $ 10,873 $ (7,846 ) Interest and fees on loans $ (678 ) $ — $ (678 ) Total $ 3,027 $ 10,873 $ (7,846 ) $ (678 ) $ — $ (678 ) * No hedging relationship existed during the three months ended March 31, 2018. 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 March 31 (In thousands) 2019 2018 Derivative instruments: Interest rate swaps Other non-interest income $ 303 $ 505 Credit risk participation agreements Other non-interest income 28 164 Foreign exchange contracts Other non-interest income 16 9 Mortgage loan commitments Loan fees and sales 287 1 Mortgage loan forward sale contracts Loan fees and sales 16 — Forward TBA contracts Loan fees and sales (266 ) 542 Total $ 384 $ 1,221 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. Collateral exchanged between the Company and dealer bank counterparties is generally subject to thresholds and transfer minimums, and usually consists of marketable securities. By contract, these 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 or 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 March 31, 2019 Assets: Derivatives subject to master netting agreements 50,792 — 50,792 (4,695 ) (28,385 ) 17,712 Derivatives not subject to master netting agreements 899 — 899 Total derivatives 51,691 — 51,691 Liabilities: Derivatives subject to master netting agreements 10,203 — 10,203 (4,695 ) (199 ) 5,309 Derivatives not subject to master netting agreements 97 — 97 Total derivatives 10,300 — 10,300 December 31, 2018 Assets: Derivatives subject to master netting agreements $ 40,613 $ — $ 40,613 $ (2,992 ) $ (26,174 ) $ 11,447 Derivatives not subject to master netting agreements 597 — 597 Total derivatives 41,210 — 41,210 Liabilities: Derivatives subject to master netting agreements $ 13,333 $ — $ 13,333 $ (2,992 ) $ (261 ) $ 10,080 Derivatives not subject to master netting agreements 88 — 88 Total derivatives 13,421 — 13,421 |
Resale and Repurchase Agreement
Resale and Repurchase Agreements (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
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 $300.0 million at March 31, 2019 and $450.0 million at December 31, 2018 . At March 31, 2019 , the Company had posted collateral of $312.2 million in marketable securities, consisting of agency mortgage-backed bonds and treasuries, and had accepted $302.3 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 March 31, 2019 Total resale agreements, subject to master netting arrangements $ 1,000,000 $ (300,000 ) $ 700,000 $ — $ (700,000 ) $ — Total repurchase agreements, subject to master netting arrangements 1,760,376 (300,000 ) 1,460,376 — (1,460,376 ) — December 31, 2018 Total resale agreements, subject to master netting arrangements $ 1,150,000 $ (450,000 ) $ 700,000 $ — $ (700,000 ) $ — Total repurchase agreements, subject to master netting arrangements 2,393,219 (450,000 ) 1,943,219 — (1,943,219 ) — The table below shows the remaining contractual maturities of repurchase agreements outstanding at March 31, 2019 and December 31, 2018 , in addition to the various types of marketable securities that have been pledged by the Company 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 March 31, 2019 Repurchase agreements, secured by: U.S. government and federal agency obligations $ 280,854 $ 101,727 $ — $ 382,581 Government-sponsored enterprise obligations 47,900 — — 47,900 Agency mortgage-backed securities 702,596 75,702 211,750 990,048 Non-agency mortgage-backed securities 135,495 — — 135,495 Asset-backed securities 67,987 40,000 — 107,987 Other debt securities 96,365 — — 96,365 Total repurchase agreements, gross amount recognized $ 1,331,197 $ 217,429 $ 211,750 $ 1,760,376 December 31, 2018 Repurchase agreements, secured by: U.S. government and federal agency obligations $ 387,541 $ 150,000 $ 100,000 $ 637,541 Government-sponsored enterprise obligations 18,466 — — 18,466 Agency mortgage-backed securities 882,744 31,774 213,752 1,128,270 Non-agency mortgage-backed securities 187,740 — — 187,740 Asset-backed securities 322,680 — — 322,680 Other debt securities 98,522 — — 98,522 Total repurchase agreements, gross amount recognized $ 1,897,693 $ 181,774 $ 313,752 $ 2,393,219 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2019 | |
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 $3.5 million and $3.3 million in the three months ended March 31, 2019 and 2018 , respectively. 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 March 31, 2019 , and changes during the three month period then ended, is presented below. Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2019 1,180,940 $43.24 Granted 178,446 61.87 Vested (291,519 ) 32.68 Forfeited (3,246 ) 49.41 Nonvested at March 31, 2019 1,064,621 $49.23 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 $11.92 Assumptions: Dividend yield 1.7 % Volatility 19.8 % Risk-free interest rate 2.6 % Expected term 6.0 years A summary of SAR activity during the first three months of 2019 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, 2019 1,066,438 $40.22 Granted 186,825 61.76 Forfeited (1,479 ) 51.16 Expired (682 ) 41.81 Exercised (95,934 ) 34.27 Outstanding at March 31, 2019 1,155,168 $44.19 7.1 years $ 16,717 |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Revenue from Contracts with Customers The core principle of ASU 2014-09, "Revenue from Contracts with Customers," is that an entity should recognize revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For the three months ended March 31, 2019 , approximately 63% of the Company’s total revenue was comprised of net interest income, which is not within the scope of this guidance. Of the remaining revenue, those items that were subject to this guidance mainly included fees for bank card, trust, deposit account services and consumer brokerage services. The following table disaggregates non-interest income subject to ASU 2014-09 by major product line. Three Months Ended March 31 (In thousands) 2019 2018 Bank card transaction fees $ 39,644 $ 41,453 Trust fees 37,256 36,062 Deposit account charges and other fees 23,018 22,982 Consumer brokerage services 3,747 3,768 Other non-interest income 8,372 7,311 Total non-interest income from contracts with customers 112,037 111,576 Other non-interest income (a) 9,203 8,114 Total non-interest income $ 121,240 $ 119,690 (a) This revenue is not within the scope of ASU 2014-09, and includes fees relating to capital market activities, loan fees and sales, derivative instruments, standby letters of credit and various other transactions. For bank card transaction fees, the majority of debit and credit card fees are earned in the Consumer segment, while corporate card and merchant fees are earned in the Commercial segment. The Consumer and Commercial segments each contribute approximately half of the Company's deposit account charge revenue. All trust fees and nearly all of the consumer brokerage services income are earned in the Wealth segment. The following table presents the opening and closing receivable balances for the three month periods ended March 31, 2019 and 2018 for the Company’s significant revenue categories subject to ASU 2014-09. (In thousands) March 31, 2019 December 31, 2018 March 31, 2018 December 31, 2017 Bank card transaction fees $ 11,016 $ 13,035 $ 10,978 $ 13,315 Trust fees 2,720 2,721 3,116 2,802 Deposit account charges and other fees 5,265 6,107 4,682 5,597 Consumer brokerage services 526 559 690 380 For these revenue categories, none of the transaction price has been allocated to performance obligations that are unsatisfied as of the end of a reporting period. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2019 | |
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 debt securities, equity securities, trading debt securities, certain investments 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 2018 Annual Report on Form 10-K. There have been no significant changes in these methodologies since then. Instruments Measured at Fair Value on a Recurring Basis The table below presents the March 31, 2019 and December 31, 2018 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first three months of 2019 or the year ended December 31, 2018 . 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) March 31, 2019 Assets: Residential mortgage loans held for sale $ 8,908 $ — $ 8,908 $ — Available for sale debt securities: U.S. government and federal agency obligations 877,921 877,921 — — Government-sponsored enterprise obligations 197,979 — 197,979 — State and municipal obligations 1,274,200 — 1,259,671 14,529 Agency mortgage-backed securities 3,412,399 — 3,412,399 — Non-agency mortgage-backed securities 1,060,008 — 1,060,008 — Asset-backed securities 1,470,516 — 1,470,516 — Other debt securities 334,867 — 334,867 — Trading debt securities 30,427 — 30,427 — Equity securities 2,808 2,808 — — Private equity investments 85,877 — — 85,877 Derivatives * 51,691 — 50,776 915 Assets held in trust for deferred compensation plan 14,897 14,897 — — Total assets 8,822,498 895,626 7,825,551 101,321 Liabilities: Derivatives * 10,300 — 10,190 110 Liabilities held in trust for deferred compensation plan 14,897 14,897 — — Total liabilities $ 25,197 $ 14,897 $ 10,190 $ 110 December 31, 2018 Assets: Residential mortgage loans held for sale $ 13,529 $ — $ 13,529 $ — Available for sale debt securities: U.S. government and federal agency obligations 907,652 907,652 — — Government-sponsored enterprise obligations 195,778 — 195,778 — State and municipal obligations 1,328,039 — 1,313,881 14,158 Agency mortgage-backed securities 3,214,985 — 3,214,985 — Non-agency mortgage-backed securities 1,047,716 — 1,047,716 — Asset-backed securities 1,511,614 — 1,511,614 — Other debt securities 332,257 — 332,257 — Trading debt securities 27,059 — 27,059 — Equity securities 2,585 2,585 — — Private equity investments 85,659 — — 85,659 Derivatives * 41,210 — 40,627 583 Assets held in trust for deferred compensation plan 12,968 12,968 — — Total assets 8,721,051 923,205 7,697,446 100,400 Liabilities: Derivatives * 13,421 — 13,328 93 Liabilities held in trust for deferred compensation plan 12,968 12,968 — — Total liabilities $ 26,389 $ 12,968 $ 13,328 $ 93 * The fair value of each class of derivative is shown in Note 11. 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 March 31, 2019 Balance January 1, 2019 $ 14,158 $ 85,659 $ 490 $ 100,307 Total gains or losses (realized/unrealized): Included in earnings — (1,842 ) 315 (1,527 ) Included in other comprehensive income * 364 — — 364 Discount accretion 7 — — 7 Purchases of private equity investments — 2,060 — 2,060 Balance March 31, 2019 $ 14,529 $ 85,877 $ 805 $ 101,211 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 March 31, 2019 $ — $ (1,842 ) $ 851 $ (991 ) For the three months ended March 31, 2018 Balance January 1, 2018 $ 17,016 $ 55,752 $ 503 $ 73,271 Total gains or losses (realized/unrealized): Included in earnings — 4,305 165 4,470 Included in other comprehensive income * 133 — — 133 Discount accretion 9 — — 9 Purchases of private equity investments — 4,879 — 4,879 Sale/pay down of private equity investments — (20 ) — (20 ) Capitalized interest/dividends — 35 — 35 Sale of risk participation agreement — — (148 ) (148 ) Balance March 31, 2018 $ 17,158 $ 64,951 $ 520 $ 82,629 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 March 31, 2018 $ — $ 4,305 $ 745 $ 5,050 * 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 March 31, 2019 Total gains or losses included in earnings $ 287 $ 28 $ (1,842 ) $ (1,527 ) Change in unrealized gains or losses relating to assets still held at March 31, 2019 $ 823 $ 28 $ (1,842 ) $ (991 ) For the three months ended March 31, 2018 Total gains or losses included in earnings $ 2 $ 163 $ 4,305 $ 4,470 Change in unrealized gains or losses relating to assets still held at March 31, 2018 $ 582 $ 163 $ 4,305 $ 5,050 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 $14.5 million at March 31, 2019 , while private equity investments, included in other securities, totaled $85.9 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 4 - 5 years Estimated market rate 3.4% - 4.3% Private equity investments Market comparable companies EBITDA multiple 4.0 - 6.0 Mortgage loan commitments Discounted cash flow Probability of funding 50.8% - 99.1% 79.3% Embedded servicing value .6% - 2.4% 1.3% Instruments Measured at Fair Value on a Nonrecurring Basis For assets measured at fair value on a nonrecurring basis during the first three months of 2019 and 2018 , and still held as of March 31, 2019 and 2018 , 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 March 31, 2019 and 2018 . 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 Three Months Ended March 31 March 31, 2019 Collateral dependent impaired loans $ 129 $ — $ — $ 129 $ 170 Mortgage servicing rights 6,341 — — 6,341 (260 ) Long-lived assets 134 — — 134 (14 ) March 31, 2018 Collateral dependent impaired loans $ 39 $ — $ — $ 39 $ (12 ) Mortgage servicing rights 5,105 — — 5,105 9 Long-lived assets 914 — — 914 (552 ) |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 3 Months Ended |
Mar. 31, 2019 | |
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 Company prospectively adopted ASU 2016-01 on January 1, 2018. In accordance with its requirements, the fair value of loans as of March 31, 2019 and December 31, 2018 were measured using an exit price notion. 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 at March 31, 2019 and December 31, 2018 : Carrying Amount Estimated Fair Value at March 31, 2019 (In thousands) Level 1 Level 2 Level 3 Total Financial Assets Loans: Business $ 5,175,541 $ — $ — $ 5,110,404 $ 5,110,404 Real estate - construction and land 925,269 — — 922,877 922,877 Real estate - business 2,859,614 — — 2,847,793 2,847,793 Real estate - personal 2,125,087 — — 2,076,475 2,076,475 Consumer 1,893,212 — — 1,851,010 1,851,010 Revolving home equity 364,010 — — 359,856 359,856 Consumer credit card 772,396 — — 720,563 720,563 Overdrafts 5,593 — — 3,994 3,994 Total loans 14,120,722 — — 13,892,972 13,892,972 Loans held for sale 20,085 — 20,085 — 20,085 Investment securities 8,792,515 880,729 7,765,867 145,919 8,792,515 Federal funds sold 250 250 — — 250 Securities purchased under agreements to resell 700,000 — — 700,588 700,588 Interest earning deposits with banks 166,077 166,077 — — 166,077 Cash and due from banks 428,018 428,018 — — 428,018 Derivative instruments 51,691 — 50,776 915 51,691 Assets held in trust for deferred compensation plan 14,897 14,897 — — 14,897 Total $ 24,294,255 $ 1,489,971 $ 7,836,728 $ 14,740,394 $ 24,067,093 Financial Liabilities Non-interest bearing deposits $ 6,298,724 $ 6,298,724 $ — $ — $ 6,298,724 Savings, interest checking and money market deposits 11,799,346 11,799,346 — — 11,799,346 Certificates of deposit 1,876,283 — — 1,887,103 1,887,103 Federal funds purchased 262,375 262,375 — — 262,375 Securities sold under agreements to repurchase 1,460,376 — — 1,461,343 1,461,343 Other borrowings 1,932 — 1,035 897 1,932 Derivative instruments 10,300 — 10,190 110 10,300 Liabilities held in trust for deferred compensation plan 14,897 14,897 — — 14,897 Total $ 21,724,233 $ 18,375,342 $ 11,225 $ 3,349,453 $ 21,736,020 Carrying Amount Estimated Fair Value at December 31, 2018 (In thousands) Level 1 Level 2 Level 3 Total Financial Assets Loans: Business $ 5,106,427 $ — $ — $ 5,017,694 $ 5,017,694 Real estate - construction and land 869,659 — — 868,274 868,274 Real estate - business 2,875,788 — — 2,846,095 2,846,095 Real estate - personal 2,127,083 — — 2,084,370 2,084,370 Consumer 1,955,572 — — 1,916,627 1,916,627 Revolving home equity 376,399 — — 365,069 365,069 Consumer credit card 814,134 — — 756,651 756,651 Overdrafts 15,236 — — 11,223 11,223 Total loans 14,140,298 — — 13,866,003 13,866,003 Loans held for sale 20,694 — 20,694 — 20,694 Investment securities 8,698,666 910,237 7,643,290 145,139 8,698,666 Federal funds sold 3,320 3,320 — — 3,320 Securities purchased under agreements to resell 700,000 — — 693,228 693,228 Interest earning deposits with banks 689,876 689,876 — — 689,876 Cash and due from banks 507,892 507,892 — — 507,892 Derivative instruments 41,210 — 40,627 583 41,210 Assets held in trust for deferred compensation plan 12,968 12,968 — — 12,968 Total $ 24,814,924 $ 2,124,293 $ 7,704,611 $ 14,704,953 $ 24,533,857 Financial Liabilities Non-interest bearing deposits $ 6,980,298 $ 6,980,298 $ — $ — $ 6,980,298 Savings, interest checking and money market deposits 11,685,239 11,685,239 — — 11,685,239 Certificates of deposit 1,658,122 — — 1,663,748 1,663,748 Federal funds purchased 13,170 13,170 — — 13,170 Securities sold under agreements to repurchase 1,943,219 — — 1,944,458 1,944,458 Other borrowings 8,702 — 7,751 951 8,702 Derivative instruments 13,421 — 13,328 93 13,421 Liabilities held in trust for deferred compensation plan 12,968 12,968 — — 12,968 Total $ 22,315,139 $ 18,691,675 $ 21,079 $ 3,609,250 $ 22,322,004 |
Legal and Regulatory Proceeding
Legal and Regulatory Proceedings (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Legal Proceedings [Abstract] | |
Legal Matters and Contingencies [Text Block] | Legal and Regulatory Proceedings The Company has various legal proceedings pending at March 31, 2019 , 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 _2
Loans And Allowance For Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 and December 31, 2018 are as follows: (In thousands) March 31, 2019 December 31, 2018 Commercial: Business $ 5,175,541 $ 5,106,427 Real estate – construction and land 925,269 869,659 Real estate – business 2,859,614 2,875,788 Personal Banking: Real estate – personal 2,125,087 2,127,083 Consumer 1,893,212 1,955,572 Revolving home equity 364,010 376,399 Consumer credit card 772,396 814,134 Overdrafts 5,593 15,236 Total loans $ 14,120,722 $ 14,140,298 |
Summary Of Activity In The Allowance For Loan Losses | A summary of the activity in the allowance for loan losses during the three months ended March 31, 2019 and 2018 , respectively, follows: For the Three Months Ended March 31 (In thousands) Commercial Personal Banking Total Balance at January 1 $ 92,869 $ 67,063 $ 159,932 Provision 1,168 11,295 12,463 Deductions: Loans charged off 527 14,204 14,731 Less recoveries on loans 133 2,885 3,018 Net loan charge-offs 394 11,319 11,713 Balance March 31, 2019 $ 93,643 $ 67,039 $ 160,682 Balance at January 1 $ 93,704 $ 65,828 $ 159,532 Provision (894 ) 11,290 10,396 Deductions: Loans charged off 366 13,365 13,731 Less recoveries on loans 621 2,714 3,335 Net loan charge-offs (recoveries) (255 ) 10,651 10,396 Balance March 31, 2018 $ 93,065 $ 66,467 $ 159,532 |
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 March 31, 2019 and December 31, 2018 , disaggregated on the basis of impairment methodology. Impaired loans evaluated under Accounting Standards Codification (ASC) 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans deemed to have similar risk characteristics, which 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 March 31, 2019 Commercial $ 1,720 $ 66,739 $ 91,923 $ 8,893,685 Personal Banking 923 17,433 66,116 5,142,865 Total $ 2,643 $ 84,172 $ 158,039 $ 14,036,550 December 31, 2018 Commercial $ 1,780 $ 61,496 $ 91,089 $ 8,790,378 Personal Banking 916 17,120 66,147 5,271,304 Total $ 2,696 $ 78,616 $ 157,236 $ 14,061,682 |
Investment In Impaired Loans | The table below shows the Company’s investment in impaired loans at March 31, 2019 and December 31, 2018 . 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 below. (In thousands) Mar. 31, 2019 Dec. 31, 2018 Non-accrual loans $ 12,167 $ 12,536 Restructured loans (accruing) 72,005 66,080 Total impaired loans $ 84,172 $ 78,616 |
Additional Information About Impaired Loans Held | The following table provides additional information about impaired loans held by the Company at March 31, 2019 and December 31, 2018 , 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 March 31, 2019 With no related allowance recorded: Business $ 8,381 $ 14,376 $ — $ 8,381 $ 14,376 $ — With an allowance recorded: Business $ 46,736 $ 46,873 $ 1,241 Real estate – construction and land 414 419 11 Real estate – business 11,208 11,809 468 Real estate – personal 4,380 5,902 243 Consumer 5,365 5,365 34 Revolving home equity 39 39 1 Consumer credit card 7,649 7,649 645 $ 75,791 $ 78,056 $ 2,643 Total $ 84,172 $ 92,432 $ 2,643 December 31, 2018 With no related allowance recorded: Business $ 8,725 $ 14,477 $ — $ 8,725 $ 14,477 $ — With an allowance recorded: Business $ 40,286 $ 40,582 $ 1,223 Real estate – construction and land 416 421 11 Real estate – business 12,069 12,699 546 Real estate – personal 4,461 6,236 266 Consumer 5,510 5,510 38 Revolving home equity 40 40 1 Consumer credit card 7,109 7,109 611 $ 69,891 $ 72,597 $ 2,696 Total $ 78,616 $ 87,074 $ 2,696 |
Total Average Impaired Loans | Total average impaired loans for the three month periods ended March 31, 2019 and 2018 , respectively, are shown in the table below. (In thousands) Commercial Personal Banking Total Average Impaired Loans: For the three months ended March 31, 2019 Non-accrual loans $ 10,347 $ 1,973 $ 12,320 Restructured loans (accruing) 53,607 15,437 69,044 Total $ 63,954 $ 17,410 $ 81,364 For the three months ended March 31, 2018 Non-accrual loans $ 8,523 $ 2,928 $ 11,451 Restructured loans (accruing) 79,258 18,773 98,031 Total $ 87,781 $ 21,701 $ 109,482 |
Interest Income Recognized On Impaired Loans | The table below shows interest income recognized during the three month periods ended March 31, 2019 and 2018 , 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 below. For the Three Months Ended March 31 (In thousands) 2019 2018 Interest income recognized on impaired loans: Business $ 1,008 $ 760 Real estate – construction and land 6 24 Real estate – business 151 113 Real estate – personal 35 111 Consumer 80 80 Revolving home equity 1 2 Consumer credit card 146 128 Total $ 1,427 $ 1,218 |
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 March 31, 2019 and December 31, 2018 . (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 March 31, 2019 Commercial: Business $ 5,154,124 $ 12,178 $ 670 $ 8,569 $ 5,175,541 Real estate – construction and land 924,028 1,237 — 4 925,269 Real estate – business 2,844,335 13,412 121 1,746 2,859,614 Personal Banking: Real estate – personal 2,113,316 7,335 2,588 1,848 2,125,087 Consumer 1,866,038 24,905 2,269 — 1,893,212 Revolving home equity 362,373 1,167 470 — 364,010 Consumer credit card 751,639 10,220 10,537 — 772,396 Overdrafts 5,315 278 — — 5,593 Total $ 14,021,168 $ 70,732 $ 16,655 $ 12,167 $ 14,120,722 December 31, 2018 Commercial: Business $ 5,086,912 $ 10,057 $ 473 $ 8,985 $ 5,106,427 Real estate – construction and land 867,692 1,963 — 4 869,659 Real estate – business 2,867,347 6,704 22 1,715 2,875,788 Personal Banking: Real estate – personal 2,118,045 6,041 1,165 1,832 2,127,083 Consumer 1,916,320 35,608 3,644 — 1,955,572 Revolving home equity 374,830 875 694 — 376,399 Consumer credit card 792,334 11,140 10,660 — 814,134 Overdrafts 14,937 299 — — 15,236 Total $ 14,038,417 $ 72,687 $ 16,658 $ 12,536 $ 14,140,298 |
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 March 31, 2019 Pass $ 4,954,297 $ 876,805 $ 2,761,215 $ 8,592,317 Special mention 119,582 47,397 49,151 216,130 Substandard 93,093 1,063 47,502 141,658 Non-accrual 8,569 4 1,746 10,319 Total $ 5,175,541 $ 925,269 $ 2,859,614 $ 8,960,424 December 31, 2018 Pass $ 4,915,042 $ 866,527 $ 2,777,374 $ 8,558,943 Special mention 84,391 1,917 51,845 138,153 Substandard 98,009 1,211 44,854 144,074 Non-accrual 8,985 4 1,715 10,704 Total $ 5,106,427 $ 869,659 $ 2,875,788 $ 8,851,874 |
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 March 31, 2019 and December 31, 2018 by FICO score. Personal Banking Loans % of Loan Category Real Estate - Personal Consumer Revolving Home Equity Consumer Credit Card March 31, 2019 FICO score: Under 600 1.1 % 3.4 % 1.2 % 5.4 % 600 - 659 1.7 5.3 1.9 14.0 660 - 719 9.9 18.0 9.5 35.6 720 - 779 25.3 24.3 22.8 26.3 780 and over 62.0 49.0 64.6 18.7 Total 100.0 % 100.0 % 100.0 % 100.0 % December 31, 2018 FICO score: Under 600 1.1 % 3.1 % 0.8 % 4.4 % 600 - 659 1.8 4.8 1.7 14.0 660 - 719 9.4 16.1 9.1 34.8 720 - 779 24.7 25.7 24.0 26.4 780 and over 63.0 50.3 64.4 20.4 Total 100.0 % 100.0 % 100.0 % 100.0 % |
Additional Information about Troubled Debt Restructurings [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Accruing restructured loans: Commercial $ 56,524 $ 50,904 Assistance programs 7,960 7,410 Consumer bankruptcy 3,946 4,103 Other consumer 3,575 3,663 Non-accrual loans 9,352 9,759 Total troubled debt restructurings $ 81,357 $ 75,839 |
Outstanding Balance Of Loans Classified As Troubled Debt Restructurings | The table below shows the balance of troubled debt restructurings by loan classification at March 31, 2019 , 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) March 31, 2019 Balance 90 days past due at any time during previous 12 months Commercial: Business $ 54,928 $ — Real estate - construction and land 411 — Real estate - business 9,462 — Personal Banking: Real estate - personal 3,503 217 Consumer 5,365 47 Revolving home equity 39 — Consumer credit card 7,649 685 Total troubled debt restructurings $ 81,357 $ 949 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Investment Securities [Abstract] | |
Investment Securities, At Fair Value | March 31, 2019 December 31, 2018 Available for sale debt securities $ 8,627,890 $ 8,538,041 Trading debt securities 30,427 27,059 Equity securities: Readily determinable fair value 2,808 2,585 No readily determinable fair value 1,886 1,824 Other: Federal Reserve Bank stock 33,627 33,498 Federal Home Loan Bank stock 10,000 10,000 Private equity investments 85,877 85,659 Total investment securities $ 8,792,515 $ 8,698,666 |
Summary Of Available For Sale Investment Securities By Maturity Groupings | A summary of the available for sale debt securities by maturity groupings as of March 31, 2019 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 commercial and 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 $ 29,484 $ 29,341 After 1 but within 5 years 588,651 597,792 After 5 but within 10 years 249,143 250,788 Total U.S. government and federal agency obligations 867,278 877,921 Government-sponsored enterprise obligations: Within 1 year 36,442 36,176 After 1 but within 5 years 85,155 84,759 After 5 but within 10 years 34,986 34,974 After 10 years 42,913 42,070 Total government-sponsored enterprise obligations 199,496 197,979 State and municipal obligations: Within 1 year 87,817 88,067 After 1 but within 5 years 663,990 675,122 After 5 but within 10 years 440,363 454,085 After 10 years 56,231 56,926 Total state and municipal obligations 1,248,401 1,274,200 Mortgage and asset-backed securities: Agency mortgage-backed securities 3,416,497 3,412,399 Non-agency mortgage-backed securities 1,056,738 1,060,008 Asset-backed securities 1,470,541 1,470,516 Total mortgage and asset-backed securities 5,943,776 5,942,923 Other debt securities: Within 1 year 22,497 22,412 After 1 but within 5 years 245,030 244,892 After 5 but within 10 years 67,995 67,563 Total other debt securities 335,522 334,867 Total available for sale debt securities $ 8,594,473 $ 8,627,890 |
Available For Sale Securities Unrealized Gains And Losses By Security Type | For debt securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in AOCI, by security type. (In thousands) Amortized Cost Gross Gross Fair Value March 31, 2019 U.S. government and federal agency obligations $ 867,278 $ 11,844 $ (1,201 ) $ 877,921 Government-sponsored enterprise obligations 199,496 258 (1,775 ) 197,979 State and municipal obligations 1,248,401 26,485 (686 ) 1,274,200 Mortgage and asset-backed securities: Agency mortgage-backed securities 3,416,497 19,977 (24,075 ) 3,412,399 Non-agency mortgage-backed securities 1,056,738 9,833 (6,563 ) 1,060,008 Asset-backed securities 1,470,541 5,536 (5,561 ) 1,470,516 Total mortgage and asset-backed securities 5,943,776 35,346 (36,199 ) 5,942,923 Other debt securities 335,522 645 (1,300 ) 334,867 Total $ 8,594,473 $ 74,578 $ (41,161 ) $ 8,627,890 December 31, 2018 U.S. government and federal agency obligations $ 914,486 $ 4,545 $ (11,379 ) $ 907,652 Government-sponsored enterprise obligations 199,470 55 (3,747 ) 195,778 State and municipal obligations 1,322,785 10,284 (5,030 ) 1,328,039 Mortgage and asset-backed securities: Agency mortgage-backed securities 3,253,433 9,820 (48,268 ) 3,214,985 Non-agency mortgage-backed securities 1,053,854 6,641 (12,779 ) 1,047,716 Asset-backed securities 1,518,976 3,849 (11,211 ) 1,511,614 Total mortgage and asset-backed securities 5,826,263 20,310 (72,258 ) 5,774,315 Other debt securities 339,595 72 (7,410 ) 332,257 Total $ 8,602,599 $ 35,266 $ (99,824 ) $ 8,538,041 |
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 March 31, 2019 included the following: Significant Inputs Range Prepayment CPR 0% - 37% Projected cumulative default 8% - 50% Credit support 0% - 20% Loss severity 11% - 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 Three Months Ended March 31 (In thousands) 2019 2018 Cumulative OTTI credit losses at January 1 $ 14,092 $ 14,199 Credit losses on debt securities for which impairment was not previously recognized — 58 Credit losses on debt securities for which impairment was previously recognized — 10 Increase in expected cash flows that are recognized over remaining life of security (33 ) (54 ) Cumulative OTTI credit losses at March 31 $ 14,059 $ 14,213 |
Securities With Unrealized Losses And Length Of Impairment Period | ecurities with unrealized losses recorded in AOCI 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 March 31, 2019 U.S. government and federal agency obligations $ 3,200 $ 26 $ 114,835 $ 1,175 $ 118,035 $ 1,201 Government-sponsored enterprise obligations 34,974 12 139,959 1,763 174,933 1,775 State and municipal obligations 13,907 3 110,737 683 124,644 686 Mortgage and asset-backed securities: Agency mortgage-backed securities 156,031 326 1,706,133 23,749 1,862,164 24,075 Non-agency mortgage-backed securities 47,338 41 639,311 6,522 686,649 6,563 Asset-backed securities 219,611 931 726,118 4,630 945,729 5,561 Total mortgage and asset-backed securities 422,980 1,298 3,071,562 34,901 3,494,542 36,199 Other debt securities 35,967 32 170,424 1,268 206,391 1,300 Total $ 511,028 $ 1,371 $ 3,607,517 $ 39,790 $ 4,118,545 $ 41,161 December 31, 2018 U.S. government and federal agency obligations $ 317,699 $ 6,515 $ 116,728 $ 4,864 $ 434,427 $ 11,379 Government-sponsored enterprise obligations — — 188,846 3,747 188,846 3,747 State and municipal obligations 157,838 704 257,051 4,326 414,889 5,030 Mortgage and asset-backed securities: Agency mortgage-backed securities 330,933 1,502 1,927,268 46,766 2,258,201 48,268 Non-agency mortgage-backed securities 207,506 1,085 657,685 11,694 865,191 12,779 Asset-backed securities 147,997 728 813,427 10,483 961,424 11,211 Total mortgage and asset-backed securities 686,436 3,315 3,398,380 68,943 4,084,816 72,258 Other debt securities 51,836 564 260,682 6,846 312,518 7,410 Total $ 1,213,809 $ 11,098 $ 4,221,687 $ 88,726 $ 5,435,496 $ 99,824 |
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 Three Months Ended March 31 (In thousands) 2019 2018 Proceeds from sales of securities: Available for sale debt securities $ 150,756 $ 148,637 Equity securities — 15 Total proceeds $ 150,756 $ 148,652 Investment securities gains (losses), net: Available for sale debt securities: Gains realized on sales $ 1,386 $ 212 Losses realized on sales (692 ) — Other-than-temporary impairment recognized on debt securities — (68 ) Equity securities: Gains realized on sales — 14 Fair value adjustments, net 223 947 Other: Fair value adjustments, net (1,842 ) 4,305 Total investment securities gains (losses), net $ (925 ) $ 5,410 |
Goodwill And Other Intangible_2
Goodwill And Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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. March 31, 2019 December 31, 2018 (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 $ (29,100 ) $ — $ 2,170 $ 31,270 $ (28,954 ) $ — $ 2,316 Mortgage servicing rights 10,658 (4,057 ) (260 ) 6,341 10,339 (3,861 ) — 6,478 Total $ 41,928 $ (33,157 ) $ (260 ) $ 8,511 $ 41,609 $ (32,815 ) $ — $ 8,794 |
Schedule of Estimated Annual Amortization Expense | 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 March 31, 2019 . 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) 2019 $ 1,381 2020 1,215 2021 1,032 2022 882 2023 736 |
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 three month period ended March 31, 2019 are as follows: (In thousands) Goodwill Core Deposit Premium Mortgage Servicing Rights Balance January 1, 2019 $ 138,921 $ 2,316 $ 6,478 Originations — — 319 Amortization — (146 ) (196 ) Impairment — — (260 ) Balance March 31, 2019 $ 138,921 $ 2,170 $ 6,341 |
Schedule Of Goodwill Allocated By Operating Segments | Goodwill allocated to the Company’s operating segments at March 31, 2019 and December 31, 2018 is shown below. (In thousands) Consumer segment $ 70,721 Commercial segment 67,454 Wealth segment 746 Total goodwill $ 138,921 |
Leases Leases (Tables)
Leases Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The maturities of operating leases are included in the table below. (in thousands) Operating Leases (a) 2019 (excluding the three months ended March 31, 2019) $ 4,279 2020 5,034 2021 4,203 2022 3,725 2023 3,406 After 2023 14,878 Total lease payments $ 35,525 Less: Interest (b) 7,719 Present value of lease liabilities $ 27,806 (a) Excludes $2.1 million of legally binding minimum lease payments for operating leases signed but not yet commenced. (b) Calculated using the interest rate for each lease. |
Lease, Cost [Table Text Block] | The following table presents the average lease term and discount rate of operating leases. March 31, 2019 Weighted-average remaining lease term 12.1 years Weighted-average discount rate 3.76 % |
Schedule of Supplemental Cash Flow Information Related to Operating Leases [Table Text Block] | Supplemental cash flow information related to operating leases is included in the table below. For the Three Months Ended March 31 (in thousands) 2019 Operating cash paid toward lease liabilities $ 1,491 Leased assets obtained in exchange for new lease liabilities $ 1,022 |
Lessor, Components of Lease Income [Table Text Block] | The following table provides the components of lease income. For the Three Months Ended March 31 (in thousands) 2019 Direct financing and sales-type leases 5,862 Operating leases (a) 1,906 Total lease income $ 7,768 (a) Includes rent of $19 thousand from Tower Properties Company, a related party. |
Net Investment in Sales-type and Direct Financing Leases [Table Text Block] | The following table presents the components of the net investments in direct financing and sales-type leases. (in thousands) March 31, 2019 Lease payment receivable $ 716,103 Unguaranteed residual assets 49,347 Total net investments in direct financing and sales-type leases $ 765,450 Deferred origination cost 3,071 Total net investment included within business loans $ 768,521 |
Lessor, Schedule of Maturity of Lease Receivables [Table Text Block] | The maturities of lease receivables are included in the table below. (in thousands) Direct Financing and Sale-Type Leases Operating Leases Total 2019 (excluding the three months ended March 31, 2019) $ 164,086 $ 5,555 $ 169,641 2020 182,611 7,051 189,662 2021 139,036 6,994 146,030 2022 101,070 13,329 114,399 2023 70,967 5,127 76,094 After 2023 121,057 13,467 134,524 Total lease receipts 778,827 $ 51,523 $ 830,350 Less: Net present value adjustment 62,724 Present value of lease receipts $ 716,103 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | The Company adopted the new lease standard using the effective date as the date of initial application as noted above, and as required, the table below provides the disclosure for periods prior to adoption. Future minimum lease payments as of December 31, 2018 are shown below, which include leases that have not yet commenced. (in thousands) Year Ended December 31 Total 2019 $ 5,763 2020 4,817 2021 4,055 2022 3,598 2023 3,273 After 15,161 Total minimum lease payments $ 36,667 |
Pension (Tables)
Pension (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Pension [Abstract] | |
Net Pension Cost | The amount of net pension cost is shown in the table below: For the Three Months Ended March 31 (In thousands) 2019 2018 Service cost - benefits earned during the period $ 159 $ 153 Interest cost on projected benefit obligation 1,065 950 Expected return on plan assets (1,196 ) (1,437 ) Amortization of prior service cost (68 ) (68 ) Amortization of unrecognized net loss 586 592 Net periodic pension cost $ 546 $ 190 |
Common Stock (Tables)
Common Stock (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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 13. For the Three Months Ended March 31 (In thousands, except per share data) 2019 2018 Basic income per common share: Net income attributable to Commerce Bancshares, Inc. $ 97,138 $ 100,984 Less preferred stock dividends 2,250 2,250 Net income available to common shareholders 94,888 98,734 Less income allocated to nonvested restricted stock 944 1,121 Net income allocated to common stock $ 93,944 $ 97,613 Weighted average common shares outstanding 110,011 110,916 Basic income per common share $ .85 $ .88 Diluted income per common share: Net income available to common shareholders $ 94,888 $ 98,734 Less income allocated to nonvested restricted stock 943 1,118 Net income allocated to common stock $ 93,945 $ 97,616 Weighted average common shares outstanding 110,011 110,916 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 290 348 Weighted average diluted common shares outstanding 110,301 111,264 Diluted income per common share $ .85 $ .88 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 debt 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. Another 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. The remaining component is gains and losses in fair value on certain interest rate floors that have been designated as cash flow hedging instruments. Unrealized Gains (Losses) on Securities (1) Pension Loss Unrealized Gains (Losses) on Cash Flow Hedge Derivatives (2) Total Accumulated Other Comprehensive Income (Loss) (In thousands) OTTI Other Balance January 1, 2019 $ 3,861 $ (52,278 ) $ (23,107 ) $ 6,855 $ (64,669 ) Other comprehensive income before reclassifications to current earnings 55 98,614 — 3,027 101,696 Amounts reclassified to current earnings from accumulated other comprehensive income — (694 ) 518 678 502 Current period other comprehensive income, before tax 55 97,920 518 3,705 102,198 Income tax expense (14 ) (24,479 ) (129 ) (926 ) (25,548 ) Current period other comprehensive income, net of tax 41 73,441 389 2,779 76,650 Balance March 31, 2019 $ 3,902 $ 21,163 $ (22,718 ) $ 9,634 $ 11,981 Balance January 1, 2018 $ 3,411 $ 30,326 $ (19,629 ) $ — $ 14,108 ASU 2018-02 Reclassification of tax rate change 715 6,359 (4,142 ) — 2,932 ASU 2016-01 Reclassification of unrealized gain on equity securities — (33,320 ) — — (33,320 ) Other comprehensive loss before reclassifications to current earnings (8 ) (98,081 ) — — (98,089 ) Amounts reclassified to current earnings from accumulated other comprehensive income 68 (212 ) 524 — 380 Current period other comprehensive income (loss), before tax 60 (98,293 ) 524 — (97,709 ) Income tax (expense) benefit (15 ) 24,572 (131 ) — 24,426 Current period other comprehensive income (loss), net of tax 45 (73,721 ) 393 — (73,283 ) Transfer of unrealized gain on securities for which impairment was not previously recognized 12 (12 ) — — — Balance March 31, 2018 $ 4,183 $ (70,368 ) $ (23,378 ) $ — $ (89,563 ) (1) The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings 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 to current earnings are included in "interest and fees on loans" in the consolidated statements of income. |
Segments (Tables)
Segments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Segment Reporting [Abstract] | |
Schedule Of Financial Information By Segment | 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 changes are reflected in prior year information presented below. (In thousands) Consumer Commercial Wealth Segment Totals Other/Elimination Consolidated Totals Three Months Ended March 31, 2019 Net interest income $ 76,897 $ 85,848 $ 11,676 $ 174,421 $ 29,067 $ 203,488 Provision for loan losses (11,049 ) (618 ) 33 (11,634 ) (829 ) (12,463 ) Non-interest income 29,171 47,915 44,332 121,418 (178 ) 121,240 Investment securities losses, net — — — — (925 ) (925 ) Non-interest expense (73,508 ) (76,838 ) (30,892 ) (181,238 ) (10,187 ) (191,425 ) Income before income taxes $ 21,511 $ 56,307 $ 25,149 $ 102,967 $ 16,948 $ 119,915 Three Months Ended March 31, 2018 Net interest income $ 71,021 $ 82,584 $ 11,445 $ 165,050 $ 27,842 $ 192,892 Provision for loan losses (10,373 ) 180 (64 ) (10,257 ) (139 ) (10,396 ) Non-interest income 30,216 49,209 42,103 121,528 (1,838 ) 119,690 Investment securities gains, net — — — — 5,410 5,410 Non-interest expense (69,919 ) (72,778 ) (31,825 ) (174,522 ) (7,755 ) (182,277 ) Income before income taxes $ 20,945 $ 59,195 $ 21,659 $ 101,799 $ 23,520 $ 125,319 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Derivative Instrument Detail [Abstract] | |
Schedule Of Notional Amounts Of Derivative Instruments | (In thousands) March 31, 2019 December 31, 2018 Interest rate swaps $ 2,007,799 $ 2,006,280 Interest rate floors 1,000,000 1,000,000 Interest rate caps 61,696 62,163 Credit risk participation agreements 142,266 143,460 Foreign exchange contracts 6,710 6,206 Mortgage loan commitments 22,496 14,544 Mortgage loan forward sale contracts 2,657 5,768 Forward TBA contracts 33,503 16,500 Total notional amount $ 3,277,127 $ 3,254,921 |
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. Information about the valuation methods used to determine fair value is provided in Note 16 on Fair Value Measurements in the 2018 Annual Report on Form 10-K. The Company's policy is to present its derivative assets and derivative liabilities on a gross basis in its consolidated balance sheets, and these are reported in other assets and other liabilities. Effective January 2017, certain collateral posted to and from the Company's clearing counterparty has been offset against the fair values of cleared swaps, such that at March 31, 2019 in the table below, the positive fair values of cleared swaps were reduced by $3.8 million and the negative fair values of cleared swaps were reduced by $12.4 million . At December 31, 2018 , the positive fair values of cleared swaps were reduced by $8.1 million and the negative fair values of cleared swaps were reduced by $6.5 million . Asset Derivatives Liability Derivatives Mar. 31, 2019 Dec. 31, 2018 Mar. 31, 2019 Dec. 31, 2018 (In thousands ) Fair Value Fair Value Derivatives designated as hedging instruments: Interest rate floors $ 32,058 $ 29,031 $ — $ — Total derivatives designated as hedging instruments $ 32,058 $ 29,031 $ — $ — Derivative instruments not designated as hedging instruments: Interest rate swaps $ 18,641 $ 11,537 $ (9,970 ) $ (13,110 ) Interest rate caps 8 24 (8 ) (24 ) Credit risk participation agreements 92 47 (110 ) (93 ) Foreign exchange contracts 44 20 (16 ) (8 ) Mortgage loan commitments 823 536 — — Mortgage loan forward sale contracts 22 15 — (8 ) Forward TBA contracts 3 — (196 ) (178 ) Total derivatives not designated as hedging instruments $ 19,633 $ 12,179 $ (10,300 ) $ (13,421 ) Total $ 51,691 $ 41,210 $ (10,300 ) $ (13,421 ) |
Summary of Cash Flow Hedge Activity [Table Text Block] | The pre-tax effects of derivative instruments on the consolidated statements of income are shown in the tables below. Amount of Gain or (Loss) Recognized in OCI Location of Gain (Loss) Reclassified from AOCI into Income Amount of Gain (Loss) Reclassified from AOCI into Income For the Three Months Ended For the Three Months Ended March 31, 2019 March 31, 2019 (In thousands) Total Included Component Excluded Component Total Included Component Excluded Component Derivatives in cash flow hedging relationships: Interest rate floors* $ 3,027 $ 10,873 $ (7,846 ) Interest and fees on loans $ (678 ) $ — $ (678 ) Total $ 3,027 $ 10,873 $ (7,846 ) $ (678 ) $ — $ (678 ) * No hedging relationship existed during the three months ended March 31, 2018. |
Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income | 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 March 31 (In thousands) 2019 2018 Derivative instruments: Interest rate swaps Other non-interest income $ 303 $ 505 Credit risk participation agreements Other non-interest income 28 164 Foreign exchange contracts Other non-interest income 16 9 Mortgage loan commitments Loan fees and sales 287 1 Mortgage loan forward sale contracts Loan fees and sales 16 — Forward TBA contracts Loan fees and sales (266 ) 542 Total $ 384 $ 1,221 |
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 March 31, 2019 Assets: Derivatives subject to master netting agreements 50,792 — 50,792 (4,695 ) (28,385 ) 17,712 Derivatives not subject to master netting agreements 899 — 899 Total derivatives 51,691 — 51,691 Liabilities: Derivatives subject to master netting agreements 10,203 — 10,203 (4,695 ) (199 ) 5,309 Derivatives not subject to master netting agreements 97 — 97 Total derivatives 10,300 — 10,300 December 31, 2018 Assets: Derivatives subject to master netting agreements $ 40,613 $ — $ 40,613 $ (2,992 ) $ (26,174 ) $ 11,447 Derivatives not subject to master netting agreements 597 — 597 Total derivatives 41,210 — 41,210 Liabilities: Derivatives subject to master netting agreements $ 13,333 $ — $ 13,333 $ (2,992 ) $ (261 ) $ 10,080 Derivatives not subject to master netting agreements 88 — 88 Total derivatives 13,421 — 13,421 |
Resale and Repurchase Agreeme_2
Resale and Repurchase Agreements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 Total resale agreements, subject to master netting arrangements $ 1,000,000 $ (300,000 ) $ 700,000 $ — $ (700,000 ) $ — Total repurchase agreements, subject to master netting arrangements 1,760,376 (300,000 ) 1,460,376 — (1,460,376 ) — December 31, 2018 Total resale agreements, subject to master netting arrangements $ 1,150,000 $ (450,000 ) $ 700,000 $ — $ (700,000 ) $ — Total repurchase agreements, subject to master netting arrangements 2,393,219 (450,000 ) 1,943,219 — (1,943,219 ) — |
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 March 31, 2019 Repurchase agreements, secured by: U.S. government and federal agency obligations $ 280,854 $ 101,727 $ — $ 382,581 Government-sponsored enterprise obligations 47,900 — — 47,900 Agency mortgage-backed securities 702,596 75,702 211,750 990,048 Non-agency mortgage-backed securities 135,495 — — 135,495 Asset-backed securities 67,987 40,000 — 107,987 Other debt securities 96,365 — — 96,365 Total repurchase agreements, gross amount recognized $ 1,331,197 $ 217,429 $ 211,750 $ 1,760,376 December 31, 2018 Repurchase agreements, secured by: U.S. government and federal agency obligations $ 387,541 $ 150,000 $ 100,000 $ 637,541 Government-sponsored enterprise obligations 18,466 — — 18,466 Agency mortgage-backed securities 882,744 31,774 213,752 1,128,270 Non-agency mortgage-backed securities 187,740 — — 187,740 Asset-backed securities 322,680 — — 322,680 Other debt securities 98,522 — — 98,522 Total repurchase agreements, gross amount recognized $ 1,897,693 $ 181,774 $ 313,752 $ 2,393,219 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 , and changes during the three month period then ended, is presented below. Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2019 1,180,940 $43.24 Granted 178,446 61.87 Vested (291,519 ) 32.68 Forfeited (3,246 ) 49.41 Nonvested at March 31, 2019 1,064,621 $49.23 |
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 $11.92 Assumptions: Dividend yield 1.7 % Volatility 19.8 % Risk-free interest rate 2.6 % Expected term 6.0 years |
Summary Of SAR Activity | A summary of SAR activity during the first three months of 2019 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, 2019 1,066,438 $40.22 Granted 186,825 61.76 Forfeited (1,479 ) 51.16 Expired (682 ) 41.81 Exercised (95,934 ) 34.27 Outstanding at March 31, 2019 1,155,168 $44.19 7.1 years $ 16,717 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | The following table disaggregates non-interest income subject to ASU 2014-09 by major product line. Three Months Ended March 31 (In thousands) 2019 2018 Bank card transaction fees $ 39,644 $ 41,453 Trust fees 37,256 36,062 Deposit account charges and other fees 23,018 22,982 Consumer brokerage services 3,747 3,768 Other non-interest income 8,372 7,311 Total non-interest income from contracts with customers 112,037 111,576 Other non-interest income (a) 9,203 8,114 Total non-interest income $ 121,240 $ 119,690 (a) This revenue is not within the scope of ASU 2014-09, and includes fees relating to capital market activities, loan fees and sales, derivative instruments, standby letters of credit and various other transactions. |
Contract with Customer, Asset and Liability [Table Text Block] | The following table presents the opening and closing receivable balances for the three month periods ended March 31, 2019 and 2018 for the Company’s significant revenue categories subject to ASU 2014-09. (In thousands) March 31, 2019 December 31, 2018 March 31, 2018 December 31, 2017 Bank card transaction fees $ 11,016 $ 13,035 $ 10,978 $ 13,315 Trust fees 2,720 2,721 3,116 2,802 Deposit account charges and other fees 5,265 6,107 4,682 5,597 Consumer brokerage services 526 559 690 380 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Measurements [Abstract] | |
Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis | The table below presents the March 31, 2019 and December 31, 2018 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first three months of 2019 or the year ended December 31, 2018 . 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) March 31, 2019 Assets: Residential mortgage loans held for sale $ 8,908 $ — $ 8,908 $ — Available for sale debt securities: U.S. government and federal agency obligations 877,921 877,921 — — Government-sponsored enterprise obligations 197,979 — 197,979 — State and municipal obligations 1,274,200 — 1,259,671 14,529 Agency mortgage-backed securities 3,412,399 — 3,412,399 — Non-agency mortgage-backed securities 1,060,008 — 1,060,008 — Asset-backed securities 1,470,516 — 1,470,516 — Other debt securities 334,867 — 334,867 — Trading debt securities 30,427 — 30,427 — Equity securities 2,808 2,808 — — Private equity investments 85,877 — — 85,877 Derivatives * 51,691 — 50,776 915 Assets held in trust for deferred compensation plan 14,897 14,897 — — Total assets 8,822,498 895,626 7,825,551 101,321 Liabilities: Derivatives * 10,300 — 10,190 110 Liabilities held in trust for deferred compensation plan 14,897 14,897 — — Total liabilities $ 25,197 $ 14,897 $ 10,190 $ 110 December 31, 2018 Assets: Residential mortgage loans held for sale $ 13,529 $ — $ 13,529 $ — Available for sale debt securities: U.S. government and federal agency obligations 907,652 907,652 — — Government-sponsored enterprise obligations 195,778 — 195,778 — State and municipal obligations 1,328,039 — 1,313,881 14,158 Agency mortgage-backed securities 3,214,985 — 3,214,985 — Non-agency mortgage-backed securities 1,047,716 — 1,047,716 — Asset-backed securities 1,511,614 — 1,511,614 — Other debt securities 332,257 — 332,257 — Trading debt securities 27,059 — 27,059 — Equity securities 2,585 2,585 — — Private equity investments 85,659 — — 85,659 Derivatives * 41,210 — 40,627 583 Assets held in trust for deferred compensation plan 12,968 12,968 — — Total assets 8,721,051 923,205 7,697,446 100,400 Liabilities: Derivatives * 13,421 — 13,328 93 Liabilities held in trust for deferred compensation plan 12,968 12,968 — — Total liabilities $ 26,389 $ 12,968 $ 13,328 $ 93 |
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 March 31, 2019 Balance January 1, 2019 $ 14,158 $ 85,659 $ 490 $ 100,307 Total gains or losses (realized/unrealized): Included in earnings — (1,842 ) 315 (1,527 ) Included in other comprehensive income * 364 — — 364 Discount accretion 7 — — 7 Purchases of private equity investments — 2,060 — 2,060 Balance March 31, 2019 $ 14,529 $ 85,877 $ 805 $ 101,211 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 March 31, 2019 $ — $ (1,842 ) $ 851 $ (991 ) For the three months ended March 31, 2018 Balance January 1, 2018 $ 17,016 $ 55,752 $ 503 $ 73,271 Total gains or losses (realized/unrealized): Included in earnings — 4,305 165 4,470 Included in other comprehensive income * 133 — — 133 Discount accretion 9 — — 9 Purchases of private equity investments — 4,879 — 4,879 Sale/pay down of private equity investments — (20 ) — (20 ) Capitalized interest/dividends — 35 — 35 Sale of risk participation agreement — — (148 ) (148 ) Balance March 31, 2018 $ 17,158 $ 64,951 $ 520 $ 82,629 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 March 31, 2018 $ — $ 4,305 $ 745 $ 5,050 |
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 March 31, 2019 Total gains or losses included in earnings $ 287 $ 28 $ (1,842 ) $ (1,527 ) Change in unrealized gains or losses relating to assets still held at March 31, 2019 $ 823 $ 28 $ (1,842 ) $ (991 ) For the three months ended March 31, 2018 Total gains or losses included in earnings $ 2 $ 163 $ 4,305 $ 4,470 Change in unrealized gains or losses relating to assets still held at March 31, 2018 $ 582 $ 163 $ 4,305 $ 5,050 |
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 $14.5 million at March 31, 2019 , while private equity investments, included in other securities, totaled $85.9 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 4 - 5 years Estimated market rate 3.4% - 4.3% Private equity investments Market comparable companies EBITDA multiple 4.0 - 6.0 Mortgage loan commitments Discounted cash flow Probability of funding 50.8% - 99.1% 79.3% Embedded servicing value .6% - 2.4% 1.3% |
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 three months of 2019 and 2018 , and still held as of March 31, 2019 and 2018 , 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 March 31, 2019 and 2018 . 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 Three Months Ended March 31 March 31, 2019 Collateral dependent impaired loans $ 129 $ — $ — $ 129 $ 170 Mortgage servicing rights 6,341 — — 6,341 (260 ) Long-lived assets 134 — — 134 (14 ) March 31, 2018 Collateral dependent impaired loans $ 39 $ — $ — $ 39 $ (12 ) Mortgage servicing rights 5,105 — — 5,105 9 Long-lived assets 914 — — 914 (552 ) |
Fair Value Of Financial Instr_2
Fair Value Of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair value of financial instruments [Table Text Block] | Carrying Amount Estimated Fair Value at March 31, 2019 (In thousands) Level 1 Level 2 Level 3 Total Financial Assets Loans: Business $ 5,175,541 $ — $ — $ 5,110,404 $ 5,110,404 Real estate - construction and land 925,269 — — 922,877 922,877 Real estate - business 2,859,614 — — 2,847,793 2,847,793 Real estate - personal 2,125,087 — — 2,076,475 2,076,475 Consumer 1,893,212 — — 1,851,010 1,851,010 Revolving home equity 364,010 — — 359,856 359,856 Consumer credit card 772,396 — — 720,563 720,563 Overdrafts 5,593 — — 3,994 3,994 Total loans 14,120,722 — — 13,892,972 13,892,972 Loans held for sale 20,085 — 20,085 — 20,085 Investment securities 8,792,515 880,729 7,765,867 145,919 8,792,515 Federal funds sold 250 250 — — 250 Securities purchased under agreements to resell 700,000 — — 700,588 700,588 Interest earning deposits with banks 166,077 166,077 — — 166,077 Cash and due from banks 428,018 428,018 — — 428,018 Derivative instruments 51,691 — 50,776 915 51,691 Assets held in trust for deferred compensation plan 14,897 14,897 — — 14,897 Total $ 24,294,255 $ 1,489,971 $ 7,836,728 $ 14,740,394 $ 24,067,093 Financial Liabilities Non-interest bearing deposits $ 6,298,724 $ 6,298,724 $ — $ — $ 6,298,724 Savings, interest checking and money market deposits 11,799,346 11,799,346 — — 11,799,346 Certificates of deposit 1,876,283 — — 1,887,103 1,887,103 Federal funds purchased 262,375 262,375 — — 262,375 Securities sold under agreements to repurchase 1,460,376 — — 1,461,343 1,461,343 Other borrowings 1,932 — 1,035 897 1,932 Derivative instruments 10,300 — 10,190 110 10,300 Liabilities held in trust for deferred compensation plan 14,897 14,897 — — 14,897 Total $ 21,724,233 $ 18,375,342 $ 11,225 $ 3,349,453 $ 21,736,020 Carrying Amount Estimated Fair Value at December 31, 2018 (In thousands) Level 1 Level 2 Level 3 Total Financial Assets Loans: Business $ 5,106,427 $ — $ — $ 5,017,694 $ 5,017,694 Real estate - construction and land 869,659 — — 868,274 868,274 Real estate - business 2,875,788 — — 2,846,095 2,846,095 Real estate - personal 2,127,083 — — 2,084,370 2,084,370 Consumer 1,955,572 — — 1,916,627 1,916,627 Revolving home equity 376,399 — — 365,069 365,069 Consumer credit card 814,134 — — 756,651 756,651 Overdrafts 15,236 — — 11,223 11,223 Total loans 14,140,298 — — 13,866,003 13,866,003 Loans held for sale 20,694 — 20,694 — 20,694 Investment securities 8,698,666 910,237 7,643,290 145,139 8,698,666 Federal funds sold 3,320 3,320 — — 3,320 Securities purchased under agreements to resell 700,000 — — 693,228 693,228 Interest earning deposits with banks 689,876 689,876 — — 689,876 Cash and due from banks 507,892 507,892 — — 507,892 Derivative instruments 41,210 — 40,627 583 41,210 Assets held in trust for deferred compensation plan 12,968 12,968 — — 12,968 Total $ 24,814,924 $ 2,124,293 $ 7,704,611 $ 14,704,953 $ 24,533,857 Financial Liabilities Non-interest bearing deposits $ 6,980,298 $ 6,980,298 $ — $ — $ 6,980,298 Savings, interest checking and money market deposits 11,685,239 11,685,239 — — 11,685,239 Certificates of deposit 1,658,122 — — 1,663,748 1,663,748 Federal funds purchased 13,170 13,170 — — 13,170 Securities sold under agreements to repurchase 1,943,219 — — 1,944,458 1,944,458 Other borrowings 8,702 — 7,751 951 8,702 Derivative instruments 13,421 — 13,328 93 13,421 Liabilities held in trust for deferred compensation plan 12,968 12,968 — — 12,968 Total $ 22,315,139 $ 18,691,675 $ 21,079 $ 3,609,250 $ 22,322,004 |
Loans And Allowance For Loan _3
Loans And Allowance For Loan Losses (Narrative) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
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 | $ 3,800,000,000 | |
Loans Pledged to the Federal Reserve Bank as collateral for discount window borrowings | $ 1,600,000,000 | |
Period after which loans are deemed in default (in days) | 90 days | |
Effect on Interest Income Resulting From Modification to Credit Card Loans | $ (1,000,000) | |
Commitments to lend additional funds to customers with restructured loans | 2,700,000 | |
Fair Value of Personal Real Estate Loans Held for Sale | 8,900,000 | |
Unpaid Principal Balance on Personal Real Estate Loans Held for Sale | 8,500,000 | |
Student Loans Held for Sale, Lower of Cost or Fair Value | 11,200,000 | |
HFS Loans on non accrual status | 0 | |
HFS loans past due and still accruing | 0 | |
Foreclosed real estate | 737,000 | $ 1,400,000 |
Personal property acquired in repossession | $ 2,600,000 | $ 2,000,000 |
Loans And Allowance For Loan _4
Loans And Allowance For Loan Losses (Summary Classification Of Held To Maturity Loan Portfolio) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | $ 14,120,722 | $ 14,140,298 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 5,175,541 | 5,106,427 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 925,269 | 869,659 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 2,859,614 | 2,875,788 |
Real Estate - Personal [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 2,125,087 | 2,127,083 |
Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 1,893,212 | 1,955,572 |
Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 364,010 | 376,399 |
Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | 772,396 | 814,134 |
Overdrafts [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total loans | $ 5,593 | $ 15,236 |
Loans And Allowance For Loan _5
Loans And Allowance For Loan Losses (Summary Of Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance at beginning of period | $ 159,932 | $ 159,532 |
Provision | 12,463 | 10,396 |
Loans charged off | 14,731 | 13,731 |
Less recoveries on loans | 3,018 | 3,335 |
Net loan charge-offs (recoveries) | 11,713 | 10,396 |
Balance at end of period | 160,682 | 159,532 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance at beginning of period | 92,869 | 93,704 |
Provision | 1,168 | (894) |
Loans charged off | 527 | 366 |
Less recoveries on loans | 133 | 621 |
Net loan charge-offs (recoveries) | 394 | (255) |
Balance at end of period | 93,643 | 93,065 |
Personal Banking Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance at beginning of period | 67,063 | 65,828 |
Provision | 11,295 | 11,290 |
Loans charged off | 14,204 | 13,365 |
Less recoveries on loans | 2,885 | 2,714 |
Net loan charge-offs (recoveries) | 11,319 | 10,651 |
Balance at end of period | $ 67,039 | $ 66,467 |
Loans And Allowance For Loan _6
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 | Mar. 31, 2019 | Dec. 31, 2018 |
Loans And Allowance For Loan Losses [Line Items] | ||
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment | $ 14,036,550 | $ 14,061,682 |
Impaired Financing Receivable, Recorded Investment | 84,172 | 78,616 |
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance | 158,039 | 157,236 |
Impaired Financing Receivable, Related Allowance | 2,643 | 2,696 |
Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment | 8,893,685 | 8,790,378 |
Impaired Financing Receivable, Recorded Investment | 66,739 | 61,496 |
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance | 91,923 | 91,089 |
Impaired Financing Receivable, Related Allowance | 1,720 | 1,780 |
Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment | 5,142,865 | 5,271,304 |
Impaired Financing Receivable, Recorded Investment | 17,433 | 17,120 |
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance | 66,116 | 66,147 |
Impaired Financing Receivable, Related Allowance | $ 923 | $ 916 |
Loans And Allowance For Loan _7
Loans And Allowance For Loan Losses (Investment In Impaired Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans And Allowance For Loan Losses [Abstract] | ||
Non-accrual loans | $ 12,167 | $ 12,536 |
Restructured loans (accruing) | 72,005 | 66,080 |
Total impaired loans | $ 84,172 | $ 78,616 |
Loans And Allowance For Loan _8
Loans And Allowance For Loan Losses (Additional Information About Impaired Loans Held) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $ 8,381 | $ 8,725 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 14,376 | 14,477 |
Impaired Financing Receivable, with No Related Allowance, Allowance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 75,791 | 69,891 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 78,056 | 72,597 |
Impaired Financing Receivable, Related Allowance | 2,643 | 2,696 |
Impaired Financing Receivable, Recorded Investment | 84,172 | 78,616 |
Impaired Financing Receivable, Unpaid Principal Balance | 92,432 | 87,074 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 8,381 | 8,725 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 14,376 | 14,477 |
Impaired Financing Receivable, with No Related Allowance, Allowance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 46,736 | 40,286 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 46,873 | 40,582 |
Impaired Financing Receivable, Related Allowance | 1,241 | 1,223 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 414 | 416 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 419 | 421 |
Impaired Financing Receivable, Related Allowance | 11 | 11 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 11,208 | 12,069 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 11,809 | 12,699 |
Impaired Financing Receivable, Related Allowance | 468 | 546 |
Real Estate - Personal [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 4,380 | 4,461 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 5,902 | 6,236 |
Impaired Financing Receivable, Related Allowance | 243 | 266 |
Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 5,365 | 5,510 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 5,365 | 5,510 |
Impaired Financing Receivable, Related Allowance | 34 | 38 |
Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 39 | 40 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 39 | 40 |
Impaired Financing Receivable, Related Allowance | 1 | 1 |
Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 7,649 | 7,109 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 7,649 | 7,109 |
Impaired Financing Receivable, Related Allowance | $ 645 | $ 611 |
Loans And Allowance For Loan _9
Loans And Allowance For Loan Losses (Total Average Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Loans And Allowance For Loan Losses [Line Items] | ||
Non-accrual loans | $ 12,320 | $ 11,451 |
Restructured loans (accruing) | 69,044 | 98,031 |
Total | 81,364 | 109,482 |
Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Non-accrual loans | 10,347 | 8,523 |
Restructured loans (accruing) | 53,607 | 79,258 |
Total | 63,954 | 87,781 |
Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Non-accrual loans | 1,973 | 2,928 |
Restructured loans (accruing) | 15,437 | 18,773 |
Total | $ 17,410 | $ 21,701 |
Loans And Allowance For Loan_10
Loans And Allowance For Loan Losses (Interest Income Recognized on Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Loans And Allowance For Loan Losses [Line Items] | ||
Interest income recognized | $ 1,427 | $ 1,218 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Interest income recognized | 1,008 | 760 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Interest income recognized | 6 | 24 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Interest income recognized | 151 | 113 |
Real Estate - Personal [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Interest income recognized | 35 | 111 |
Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Interest income recognized | 80 | 80 |
Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Interest income recognized | 1 | 2 |
Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Interest income recognized | $ 146 | $ 128 |
Loans And Allowance For Loan_11
Loans And Allowance For Loan Losses (Aging Information On Past Due And Accruing Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | $ 14,021,168 | $ 14,038,417 |
30 - 89 Days Past Due | 70,732 | 72,687 |
90 Days Past Due and Still Accruing | 16,655 | 16,658 |
Non-accrual loans | 12,167 | 12,536 |
Total | 14,120,722 | 14,140,298 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 5,175,541 | 5,106,427 |
Business [Member] | Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 5,154,124 | 5,086,912 |
30 - 89 Days Past Due | 12,178 | 10,057 |
90 Days Past Due and Still Accruing | 670 | 473 |
Non-accrual loans | 8,569 | 8,985 |
Total | 5,175,541 | 5,106,427 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 925,269 | 869,659 |
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 | 924,028 | 867,692 |
30 - 89 Days Past Due | 1,237 | 1,963 |
90 Days Past Due and Still Accruing | 0 | 0 |
Non-accrual loans | 4 | 4 |
Total | 925,269 | 869,659 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 2,859,614 | 2,875,788 |
Real Estate - Business [Member] | Commercial Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 2,844,335 | 2,867,347 |
30 - 89 Days Past Due | 13,412 | 6,704 |
90 Days Past Due and Still Accruing | 121 | 22 |
Non-accrual loans | 1,746 | 1,715 |
Total | 2,859,614 | 2,875,788 |
Real Estate - Personal [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 2,125,087 | 2,127,083 |
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 | 2,113,316 | 2,118,045 |
30 - 89 Days Past Due | 7,335 | 6,041 |
90 Days Past Due and Still Accruing | 2,588 | 1,165 |
Non-accrual loans | 1,848 | 1,832 |
Total | 2,125,087 | 2,127,083 |
Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 1,893,212 | 1,955,572 |
Consumer [Member] | Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 1,866,038 | 1,916,320 |
30 - 89 Days Past Due | 24,905 | 35,608 |
90 Days Past Due and Still Accruing | 2,269 | 3,644 |
Non-accrual loans | 0 | 0 |
Total | 1,893,212 | 1,955,572 |
Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 364,010 | 376,399 |
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 | 362,373 | 374,830 |
30 - 89 Days Past Due | 1,167 | 875 |
90 Days Past Due and Still Accruing | 470 | 694 |
Non-accrual loans | 0 | 0 |
Total | 364,010 | 376,399 |
Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 772,396 | 814,134 |
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 | 751,639 | 792,334 |
30 - 89 Days Past Due | 10,220 | 11,140 |
90 Days Past Due and Still Accruing | 10,537 | 10,660 |
Non-accrual loans | 0 | 0 |
Total | 772,396 | 814,134 |
Overdrafts [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Total | 5,593 | 15,236 |
Overdrafts [Member] | Personal Banking Portfolio Segment [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Current or Less than 30 Days Past Due | 5,315 | 14,937 |
30 - 89 Days Past Due | 278 | 299 |
90 Days Past Due and Still Accruing | 0 | 0 |
Non-accrual loans | 0 | 0 |
Total | $ 5,593 | $ 15,236 |
Loans And Allowance For Loan_12
Loans And Allowance For Loan Losses (Credit Quality Of Commercial Loan Portfolio) (Details) - Commercial Portfolio Segment [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | $ 8,960,424 | $ 8,851,874 |
Pass [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 8,592,317 | 8,558,943 |
Special Mention [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 216,130 | 138,153 |
Substandard [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 141,658 | 144,074 |
Non-Accrual [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 10,319 | 10,704 |
Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 5,175,541 | 5,106,427 |
Business [Member] | Pass [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 4,954,297 | 4,915,042 |
Business [Member] | Special Mention [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 119,582 | 84,391 |
Business [Member] | Substandard [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 93,093 | 98,009 |
Business [Member] | Non-Accrual [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 8,569 | 8,985 |
Real Estate - Construction And Land [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 925,269 | 869,659 |
Real Estate - Construction And Land [Member] | Pass [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 876,805 | 866,527 |
Real Estate - Construction And Land [Member] | Special Mention [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 47,397 | 1,917 |
Real Estate - Construction And Land [Member] | Substandard [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 1,063 | 1,211 |
Real Estate - Construction And Land [Member] | Non-Accrual [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 4 | 4 |
Real Estate - Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 2,859,614 | 2,875,788 |
Real Estate - Business [Member] | Pass [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 2,761,215 | 2,777,374 |
Real Estate - Business [Member] | Special Mention [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 49,151 | 51,845 |
Real Estate - Business [Member] | Substandard [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | 47,502 | 44,854 |
Real Estate - Business [Member] | Non-Accrual [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Commercial Loan Portfolio Gross Carrying Amount | $ 1,746 | $ 1,715 |
Loans And Allowance For Loan_13
Loans And Allowance For Loan Losses (Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding ) (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
Loans And Allowance For Loan Losses [Line Items] | ||
Credit Quality Personal Real Estate Loans Excluded | $ 196.4 | $ 201.7 |
Consumer Healthcare Loans Excluded | $ 167.2 | $ 170.3 |
Credit quality personal banking loan table percentage loans excluded | 8.00% | |
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 | 1.10% | 1.10% |
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 | 1.70% | 1.80% |
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 | 9.90% | 9.40% |
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 | 25.30% | 24.70% |
Real Estate - Personal [Member] | Fico Seven Hundred Eighty And Above [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 62.00% | 63.00% |
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 | 3.40% | 3.10% |
Consumer [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 5.30% | 4.80% |
Consumer [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 18.00% | 16.10% |
Consumer [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 24.30% | 25.70% |
Consumer [Member] | Fico Seven Hundred Eighty And Above [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 49.00% | 50.30% |
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 | 1.20% | 0.80% |
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 | 1.90% | 1.70% |
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% | 9.10% |
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 | 22.80% | 24.00% |
Revolving Home Equity [Member] | Fico Seven Hundred Eighty And Above [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 64.60% | 64.40% |
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 | 5.40% | 4.40% |
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 | 14.00% | 14.00% |
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 | 35.60% | 34.80% |
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 | 26.30% | 26.40% |
Consumer Credit Card [Member] | Fico Seven Hundred Eighty And Above [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Percentage of Loan Category | 18.70% | 20.40% |
Loans And Allowance For Loan_14
Loans And Allowance For Loan Losses Loans And Allowance For Loan Losses (Troubled Debt Restructurings by Type of Modification) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 81,357 | $ 75,839 |
Performing/Accruing TDR - Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 56,524 | 50,904 |
Performing/Accruing TDR - Assistance programs [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 7,960 | 7,410 |
Performing/Accruing TDR - Consumer Bankruptcy [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 3,946 | 4,103 |
Performing/Accruing TDR - Other Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 3,575 | 3,663 |
TDR Non-accrual loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 9,352 | $ 9,759 |
Loans And Allowance For Loan_15
Loans And Allowance For Loan Losses (Outstanding Balance Of Loans Classified As Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans And Allowance For Loan Losses [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 81,357 | $ 75,839 |
Balance 90 days past due at any time during previous 12 months | 949 | |
Commercial Portfolio Segment [Member] | Business [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 54,928 | |
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] | ||
Financing Receivable, Modifications, Recorded Investment | 411 | |
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] | ||
Financing Receivable, Modifications, Recorded Investment | 9,462 | |
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] | ||
Financing Receivable, Modifications, Recorded Investment | 3,503 | |
Balance 90 days past due at any time during previous 12 months | 217 | |
Personal Banking Portfolio Segment [Member] | Consumer [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 5,365 | |
Balance 90 days past due at any time during previous 12 months | 47 | |
Personal Banking Portfolio Segment [Member] | Revolving Home Equity [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 39 | |
Balance 90 days past due at any time during previous 12 months | 0 | |
Personal Banking Portfolio Segment [Member] | Consumer Credit Card [Member] | ||
Loans And Allowance For Loan Losses [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 7,649 | |
Balance 90 days past due at any time during previous 12 months | $ 685 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Investment [Line Items] | ||||
Percentage decrease requiring a review for impairment | 20.00% | |||
Fair value of securities on other-than-temporary impairment watch list | $ 55,000 | $ 57,700 | ||
Credit-related portion of impairments included in earnings, for securities on watch list | 14,059 | $ 14,213 | 14,092 | $ 14,199 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4,118,545 | 5,435,496 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 41,161 | 99,824 | ||
AFS securities in loss position at period-end, change in unrealized loss | (58,700) | |||
Securities pledged as collateral | 4,000,000 | |||
Securities pledged as collateral and may be sold or re-pledged | $ 312,300 | |||
No investment in a single issuer exceeds this percentage of stockholder's equity | 10.00% | |||
Number of investments in a single issuer that exceed 10% of stockholder's equity | 0 | |||
U.S. Government and Federal Agency Obligations [Member] | ||||
Investment [Line Items] | ||||
U.S. Treasury inflation-protected securities held, at fair value | $ 446,900 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 118,035 | 434,427 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1,201 | 11,379 | ||
State and Municipal Obligations [Member] | ||||
Investment [Line Items] | ||||
Auction rate securities held at fair value | 14,500 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 124,644 | 414,889 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 686 | 5,030 | ||
Non-Agency Mortgage-Backed Securities [Member] | ||||
Investment [Line Items] | ||||
Par value securities with other-than-temporary impairment | 22,200 | |||
Fair Value Securities with Other-Than-Temporary Impairment | 17,300 | |||
Credit-related portion of impairments included in earnings, for securities on watch list | 14,100 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 686,649 | 865,191 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 6,563 | $ 12,779 | ||
Private Equity Funds [Member] | ||||
Investment [Line Items] | ||||
Fair value adjustments, net | (1,800) | |||
Equity Securities [Member] | ||||
Investment [Line Items] | ||||
Equity Securities, FV-NI, Unrealized Gain | 223 | $ 947 | ||
Available-for-sale Securities [Member] | ||||
Investment [Line Items] | ||||
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 694 |
Investment Securities (Investme
Investment Securities (Investment Securities, At Fair Value) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Investment Securities [Abstract] | ||
Debt Securities, Available-for-sale | $ 8,627,890 | $ 8,538,041 |
Trading securities | 30,427 | 27,059 |
Equity securities with a readily determinable fair value | 2,808 | 2,585 |
Equtiy Securities without Readily Determinable Fair Values | 1,886 | 1,824 |
Federal Reserve Bank Stock | 33,627 | 33,498 |
Federal Home Loan Bank Stock | 10,000 | 10,000 |
Private equity investments | 85,877 | 85,659 |
Total investment securities | $ 8,792,515 | $ 8,698,666 |
Investment Securities (Summary
Investment Securities (Summary Of Available For Sale Investment Securities By Maturity Groupings) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 8,594,473 | $ 8,602,599 |
Debt Securities, Available-for-sale, Fair Value | 8,627,890 | 8,538,041 |
U.S. Government and Federal Agency Obligations [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 867,278 | 914,486 |
Debt Securities, Available-for-sale, Fair Value | 877,921 | 907,652 |
U.S. Government and Federal Agency Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 29,484 | |
Debt Securities, Available-for-sale, Fair Value | 29,341 | |
U.S. Government and Federal Agency Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 588,651 | |
Debt Securities, Available-for-sale, Fair Value | 597,792 | |
U.S. Government and Federal Agency Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 249,143 | |
Debt Securities, Available-for-sale, Fair Value | 250,788 | |
Government-Sponsored Enterprise Obligations [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 199,496 | 199,470 |
Debt Securities, Available-for-sale, Fair Value | 197,979 | 195,778 |
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 36,442 | |
Debt Securities, Available-for-sale, Fair Value | 36,176 | |
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 85,155 | |
Debt Securities, Available-for-sale, Fair Value | 84,759 | |
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 34,986 | |
Debt Securities, Available-for-sale, Fair Value | 34,974 | |
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Maturity After10 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 42,913 | |
Debt Securities, Available-for-sale, Fair Value | 42,070 | |
State and Municipal Obligations [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,248,401 | 1,322,785 |
Debt Securities, Available-for-sale, Fair Value | 1,274,200 | 1,328,039 |
State and Municipal Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 87,817 | |
Debt Securities, Available-for-sale, Fair Value | 88,067 | |
State and Municipal Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 663,990 | |
Debt Securities, Available-for-sale, Fair Value | 675,122 | |
State and Municipal Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 440,363 | |
Debt Securities, Available-for-sale, Fair Value | 454,085 | |
State and Municipal Obligations [Member] | Available For Sale Maturity After10 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 56,231 | |
Debt Securities, Available-for-sale, Fair Value | 56,926 | |
Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 3,416,497 | 3,253,433 |
Debt Securities, Available-for-sale, Fair Value | 3,412,399 | 3,214,985 |
Non-Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,056,738 | 1,053,854 |
Debt Securities, Available-for-sale, Fair Value | 1,060,008 | 1,047,716 |
Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,470,541 | 1,518,976 |
Debt Securities, Available-for-sale, Fair Value | 1,470,516 | 1,511,614 |
Total Mortgage And Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 5,943,776 | 5,826,263 |
Debt Securities, Available-for-sale, Fair Value | 5,942,923 | 5,774,315 |
Other Debt Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 335,522 | 339,595 |
Debt Securities, Available-for-sale, Fair Value | 334,867 | $ 332,257 |
Other Debt Securities [Member] | Available For Sale Securities Maturity Within1 Year [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 22,497 | |
Debt Securities, Available-for-sale, Fair Value | 22,412 | |
Other Debt Securities [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 245,030 | |
Debt Securities, Available-for-sale, Fair Value | 244,892 | |
Other Debt Securities [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 67,995 | |
Debt Securities, Available-for-sale, Fair Value | $ 67,563 |
Investment Securities (Availabl
Investment Securities (Available For Sale Securities Unrealized Gains And Losses, By Security Type) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 8,594,473 | $ 8,602,599 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 74,578 | 35,266 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (41,161) | (99,824) |
Debt Securities, Available-for-sale, Fair Value | 8,627,890 | 8,538,041 |
U.S. Government and Federal Agency Obligations [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 867,278 | 914,486 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 11,844 | 4,545 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (1,201) | (11,379) |
Debt Securities, Available-for-sale, Fair Value | 877,921 | 907,652 |
Government-Sponsored Enterprise Obligations [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 199,496 | 199,470 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 258 | 55 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (1,775) | (3,747) |
Debt Securities, Available-for-sale, Fair Value | 197,979 | 195,778 |
State and Municipal Obligations [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,248,401 | 1,322,785 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 26,485 | 10,284 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (686) | (5,030) |
Debt Securities, Available-for-sale, Fair Value | 1,274,200 | 1,328,039 |
Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 3,416,497 | 3,253,433 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 19,977 | 9,820 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (24,075) | (48,268) |
Debt Securities, Available-for-sale, Fair Value | 3,412,399 | 3,214,985 |
Non-Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,056,738 | 1,053,854 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 9,833 | 6,641 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (6,563) | (12,779) |
Debt Securities, Available-for-sale, Fair Value | 1,060,008 | 1,047,716 |
Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,470,541 | 1,518,976 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 5,536 | 3,849 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (5,561) | (11,211) |
Debt Securities, Available-for-sale, Fair Value | 1,470,516 | 1,511,614 |
Total Mortgage And Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 5,943,776 | 5,826,263 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 35,346 | 20,310 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (36,199) | (72,258) |
Debt Securities, Available-for-sale, Fair Value | 5,942,923 | 5,774,315 |
Other Debt Securities [Member] | ||
Investment [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 335,522 | 339,595 |
Available For Sale Securities, Gross Unreailzed Gain at Period End | 645 | 72 |
Available For Sale Securities, Gross Unrealized Loss at Period End | (1,300) | (7,410) |
Debt Securities, Available-for-sale, Fair Value | $ 334,867 | $ 332,257 |
Investment Securities (Cash Flo
Investment Securities (Cash Flow Model Inputs Used To Calculate Credit Losses) (Details) | Mar. 31, 2019 |
Minimum [Member] | |
Investment [Line Items] | |
Prepayment CPR | 0.00% |
Projected cumulative default | 8.00% |
Credit support | 0.00% |
Loss severity | 11.00% |
Maximum [Member] | |
Investment [Line Items] | |
Prepayment CPR | 37.00% |
Projected cumulative default | 50.00% |
Credit support | 20.00% |
Loss severity | 63.00% |
Investment Securities (Changes
Investment Securities (Changes In Recorded Credit Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
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 | $ 14,059 | $ 14,213 | $ 14,092 | $ 14,199 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment | 0 | 58 | ||
Credit losses on debt securities for which impairment was previously recognized | 0 | 10 | ||
Increase in expected cash flows that are recognized over remaining life of security | $ (33) | $ (54) |
Investment Securities (Securiti
Investment Securities (Securities With Unrealized Losses And Length Of Impairment Period) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Investment [Line Items] | ||
Less than 12 months, Fair Value | $ 511,028 | $ 1,213,809 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,371 | 11,098 |
12 months or longer, Fair Value | 3,607,517 | 4,221,687 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 39,790 | 88,726 |
Total, Fair Value | 4,118,545 | 5,435,496 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 41,161 | 99,824 |
U.S. Government and Federal Agency Obligations [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 3,200 | 317,699 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 26 | 6,515 |
12 months or longer, Fair Value | 114,835 | 116,728 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,175 | 4,864 |
Total, Fair Value | 118,035 | 434,427 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1,201 | 11,379 |
Government-Sponsored Enterprise Obligations [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 34,974 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 12 | 0 |
12 months or longer, Fair Value | 139,959 | 188,846 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,763 | 3,747 |
Total, Fair Value | 174,933 | 188,846 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1,775 | 3,747 |
State and Municipal Obligations [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 13,907 | 157,838 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 3 | 704 |
12 months or longer, Fair Value | 110,737 | 257,051 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 683 | 4,326 |
Total, Fair Value | 124,644 | 414,889 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 686 | 5,030 |
Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 156,031 | 330,933 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 326 | 1,502 |
12 months or longer, Fair Value | 1,706,133 | 1,927,268 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 23,749 | 46,766 |
Total, Fair Value | 1,862,164 | 2,258,201 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 24,075 | 48,268 |
Non-Agency Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 47,338 | 207,506 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 41 | 1,085 |
12 months or longer, Fair Value | 639,311 | 657,685 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 6,522 | 11,694 |
Total, Fair Value | 686,649 | 865,191 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 6,563 | 12,779 |
Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 219,611 | 147,997 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 931 | 728 |
12 months or longer, Fair Value | 726,118 | 813,427 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 4,630 | 10,483 |
Total, Fair Value | 945,729 | 961,424 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 5,561 | 11,211 |
Total Mortgage And Asset-Backed Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 422,980 | 686,436 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,298 | 3,315 |
12 months or longer, Fair Value | 3,071,562 | 3,398,380 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 34,901 | 68,943 |
Total, Fair Value | 3,494,542 | 4,084,816 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 36,199 | 72,258 |
Debt Securities [Member] | ||
Investment [Line Items] | ||
Less than 12 months, Fair Value | 35,967 | 51,836 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 32 | 564 |
12 months or longer, Fair Value | 170,424 | 260,682 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,268 | 6,846 |
Total, Fair Value | 206,391 | 312,518 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 1,300 | $ 7,410 |
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 | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Investment [Line Items] | |||
Proceeds from Sale of Available-for-sale Securities | $ 150,756 | $ 148,637 | |
Proceeds from Sale of Equity Securities | 0 | 15 | |
Total proceeds | [1] | 150,756 | 148,652 |
Investment securities gains (losses), net | [1] | (925) | 5,410 |
Available-for-sale Securities [Member] | |||
Investment [Line Items] | |||
Available-for-sale Securities, Gains realized on sales | 1,386 | 212 | |
Available-for-sale Securities, Losses realized on sales | (692) | 0 | |
Other-than-temporary impairment recognized on debt securities | 0 | (68) | |
Equity Securities [Member] | |||
Investment [Line Items] | |||
Gain realized on sales | 0 | 14 | |
Fair value adjustments, net | 223 | 947 | |
Other investments [Member] | |||
Investment [Line Items] | |||
Fair value adjustments, net | $ (1,842) | $ 4,305 | |
[1] | Available for sale debt securities, equity securities, and other securities |
Goodwill And Other Intangible_3
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization of Intangible Assets | $ 342 | $ 321 |
Goodwill And Other Intangible_4
Goodwill And Other Intangible Assets (Schedule Of Intangible Assets With Estimable Useful Lives) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 41,928 | $ 41,609 |
Accumulated Amortization | (33,157) | (32,815) |
Valuation Allowance | (260) | 0 |
Net Amount | 8,511 | 8,794 |
Core Deposit Premium [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 31,270 | 31,270 |
Accumulated Amortization | (29,100) | (28,954) |
Valuation Allowance | 0 | 0 |
Net Amount | 2,170 | 2,316 |
Mortgage Servicing Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 10,658 | 10,339 |
Accumulated Amortization | (4,057) | (3,861) |
Valuation Allowance | (260) | 0 |
Net Amount | $ 6,341 | $ 6,478 |
Goodwill And Other Intangible_5
Goodwill And Other Intangible Assets (Schedule Of Estimated Annual Amortization Expense) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2019 | $ 1,381 |
2020 | 1,215 |
2021 | 1,032 |
2022 | 882 |
2023 | $ 736 |
Goodwill And Other Intangible_6
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 | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Goodwill and Intangible Assets [Roll Forward] | |||
Amortization | $ 342 | $ 321 | |
Goodwill [Member] | |||
Goodwill and Intangible Assets [Roll Forward] | |||
Originations | 0 | ||
Amortization | 0 | ||
Impairment reversal | 0 | ||
Intangible Assets, Net (Including Goodwill) | 138,921 | $ 138,921 | |
Core Deposit Premium [Member] | |||
Goodwill and Intangible Assets [Roll Forward] | |||
Originations | 0 | ||
Amortization | (146) | ||
Impairment reversal | 0 | ||
Intangible Assets, Net (Including Goodwill) | 2,170 | 2,316 | |
Mortgage Servicing Rights [Member] | |||
Goodwill and Intangible Assets [Roll Forward] | |||
Originations | 319 | ||
Amortization | (196) | ||
Impairment reversal | (260) | ||
Intangible Assets, Net (Including Goodwill) | $ 6,341 | $ 6,478 |
Goodwill And Other Intangible_7
Goodwill And Other Intangible Assets (Schedule Of Goodwill Allocated By Operating Segments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
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 | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Guarantor Obligations [Line Items] | ||
Derivative Liabilities | $ 10,300 | $ 13,421 |
Notional amount of underlying interest rate swaps associated with risk participation agreements | 3,277,127 | $ 3,254,921 |
Financial Standby Letter Of Credit [Member] | ||
Guarantor Obligations [Line Items] | ||
Standby letters of credit, net liability | 2,200 | |
Contractual amount of letters of credit, guaranteed maximum potential future payments | 325,600 | |
Risk Participation Agreement [Member] | Indirect Guarantee Of Indebtedness [Member] | ||
Guarantor Obligations [Line Items] | ||
Derivative Liabilities | 110 | |
Notional amount of underlying interest rate swaps associated with risk participation agreements | $ 86,600 | |
Minimum [Member] | Risk Participation Agreement [Member] | ||
Guarantor Obligations [Line Items] | ||
Term, in years | 2 years | |
Maximum [Member] | Risk Participation Agreement [Member] | ||
Guarantor Obligations [Line Items] | ||
Term, in years | 11 years |
Leases Leases (Narrative) (Deta
Leases Leases (Narrative) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | |
Operating Lease, Right-of-Use Asset | $ 27,100 |
Operating Lease, Present value of lease liabilities | 27,806 |
Lease, Cost | $ 1,800 |
Minimum [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Renewal Term | 1 year |
Maximum [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Renewal Term | 35 years |
Leases Leases (Schedule of Matu
Leases Leases (Schedule of Maturity of Operating Lease Liabilities) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Payments, Remainder of 2019 | $ 4,279 |
Lessee, Operating Lease, Liability, Payments, 2020 | 5,034 |
Lessee, Operating Lease, Liability, Payments, 2021 | 4,203 |
Lessee, Operating Lease, Liability, Payments, 2022 | 3,725 |
Lessee, Operating Lease, Liability, Payments, 2023 | 3,406 |
Lessee, Operating Lease, Liability, Payments, Due after 2023 | 14,878 |
Lessee, Operating Lease, Liability, Payments, Total | 35,525 |
Lessee, Operating Lease, Liability, Interest | 7,719 |
Operating Lease, Present value of lease liabilities | 27,806 |
Minimum lease payment for operating leases signed but not yet commenced | $ 2,100 |
Leases Leases (Schedule of Oper
Leases Leases (Schedule of Operating Lease Term and Discount Rate) (Details) | Mar. 31, 2019 |
Leases [Abstract] | |
Operating Lease, Weighted Average Remaining Lease Term | 12 years 22 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.76% |
Leases Leases (Schedule of Supp
Leases Leases (Schedule of Supplemental Cash Flow Information Related to Operating Leases) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating Lease, Operating cash paid toward lease liabilities | $ 1,491 |
Leased assets obtained in exchange for new lease liabilities, operating lease | $ 1,022 |
Leases Leases (Summary of Minim
Leases Leases (Summary of Minimum Lease Commitments Under ASC 840) (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Leases [Abstract] | |
Operating Leases, Future Minimum Payments Due, 2019 | $ 5,763 |
Operating Leases, Future Minimum Payments, 2020 | 4,817 |
Operating Leases, Future Minimum Payments, 2021 | 4,055 |
Operating Leases, Future Minimum Payments, 2022 | 3,598 |
Operating Leases, Future Minimum Payments, 2023 | 3,273 |
Operating Leases, Future Minimum Payments, After 2023 | 15,161 |
Operating Leases, Future Minimum Payments Due | $ 36,667 |
Leases Leases (Narrative - Less
Leases Leases (Narrative - Lessor) (Details) | Mar. 31, 2019 |
Minimum [Member] | |
Lessor, Lease, Description [Line Items] | |
Lessor, Operating Lease, Renewal Term | 1 year |
Maximum [Member] | |
Lessor, Lease, Description [Line Items] | |
Lessor, Operating Lease, Renewal Term | 9 years |
Leases Leases (Components of Le
Leases Leases (Components of Lease Income) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Operating Lease Income [Line Items] | |
Sales-type and Direct Financing Leases, Lease Income | $ 5,862 |
Operating Lease, Lease Income | 1,906 |
Lease Income | 7,768 |
Operating Lease Income from Related Party [Member] | |
Operating Lease Income [Line Items] | |
Operating Lease, Lease Income | $ 19 |
Leases Leases (Net Investment i
Leases Leases (Net Investment in Sales-type and Direct Financing Leases) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Leases [Abstract] | |
Sales-type and Direct Financing Leases, Lease Receivable | $ 716,103 |
Sales-type and Direct Financing Leases, Unguaranteed Residual Asset | 49,347 |
Net investment in direct financing and sales-type leases | 765,450 |
Deferred Costs, Leasing, Net | 3,071 |
Net Investment in Direct Financing and Sales Type Leases included within Business Loans | $ 768,521 |
Leases Leases (Schedule of Ma_2
Leases Leases (Schedule of Maturity of Lease Receivables) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Leases [Abstract] | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Remainder of 2019 | $ 164,086 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, 2020 | 182,611 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, 2021 | 139,036 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, 2022 | 101,070 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, 2023 | 70,967 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, After 2023 | 121,057 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | 778,827 |
Sales-type and Direct Financing Leases, Lease Receivable, Undiscounted Excess Amount | 62,724 |
Sales-type and Direct Financing Leases, Lease Receivable | 716,103 |
Lessor, Operating Lease, Payments to be Received, Remainder of 2019 | 5,555 |
Lessor, Operating Lease, Payments to be Received, 2020 | 7,051 |
Lessor, Operating Lease, Payments to be Received, 2021 | 6,994 |
Lessor, Operating Lease, Payments to be Received, 2022 | 13,329 |
Lessor, Operating Lease, Payments to be Received, 2023 | 5,127 |
Lessor, Operating Lease, Payments to be Received, After 2023 | 13,467 |
Lessor, Operating Lease, Payments to be Received | 51,523 |
Lessor, Total Payments to be Received, Remainder of 2019 | 169,641 |
Lessor, Total Payments to be Received, 2020 | 189,662 |
Lessor, Total Payments to be Received, 2021 | 146,030 |
Lessor, Total Payments to be Received, 2022 | 114,399 |
Lessor, Total Payments to be Received, 2023 | 76,094 |
Lessor, Total Payments to be Received, After 2023 | 134,524 |
Lessor, Total Payments to be Received | $ 830,350 |
Pension Pension (Narrative) (De
Pension Pension (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Pension (Narrative) [Abstract] | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 |
Pension (Net Pension Cost) (Det
Pension (Net Pension Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Pension [Abstract] | ||
Service cost - benefits earned during the period | $ 159 | $ 153 |
Interest cost on projected benefit obligation | 1,065 | 950 |
Expected Return on Plan Assets | (1,196) | (1,437) |
Amortization of Prior Service Cost | (68) | (68) |
Defined Benefit Plan, Amortization of Gain (Loss) | 586 | 592 |
Net periodic pension cost | $ 546 | $ 190 |
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 | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||
Net income attributable to Commerce Bancshares, Inc. | $ 97,138 | $ 100,984 |
Preferred Stock Dividends | 2,250 | 2,250 |
Net Income (Loss) Available to Common Stockholders | $ 94,888 | $ 98,734 |
Basic income per common share | $ 0.85 | $ 0.88 |
Diluted income per common share | $ 0.85 | $ 0.88 |
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. | $ 97,138 | $ 100,984 |
Preferred Stock Dividends | 2,250 | 2,250 |
Net Income (Loss) Available to Common Stockholders | 94,888 | 98,734 |
Less income allocated to nonvested restricted stockholders | 944 | 1,121 |
Net income available to common stockholders | $ 93,944 | $ 97,613 |
Weighted average common shares outstanding | 110,011 | 110,916 |
Basic income per common share | $ 0.85 | $ 0.88 |
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 | $ 94,888 | $ 98,734 |
Less income allocated to nonvested restricted stockholders | 943 | 1,118 |
Net income available to common stockholders | $ 93,945 | $ 97,616 |
Weighted average common shares outstanding | 110,011 | 110,916 |
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 | 290 | 348 |
Weighted average diluted common shares outstanding | 110,301 | 111,264 |
Diluted income per common share | $ 0.85 | $ 0.88 |
Common Stock Common Stock (Anti
Common Stock Common Stock (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 282 | 276 |
Common Stock Common Stock (Subs
Common Stock Common Stock (Subsequent Event) (Details) - shares | Apr. 17, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Subsequent Event [Line Items] | |||
Common Stock, Shares Authorized | 120,000,000 | 120,000,000 | |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Common Stock, Shares Authorized | 140,000,000 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Accumulated other comprehensive income (loss) | $ 11,981,000 | $ (89,563,000) | $ (64,669,000) | $ 14,108,000 | |
Other Comprehensive Income Before Reclassifications | 101,696,000 | (98,089,000) | |||
Reclassified from Accumulated Oher Comprehensive Income | 502,000 | 380,000 | |||
Other Comprehensive Income (Loss), before Tax | 102,198,000 | (97,709,000) | |||
Other Comprehensive Income (Loss), Tax | (25,548,000) | 24,426,000 | |||
Other comprehensive income (loss), net of tax | 76,650,000 | (73,283,000) | |||
Reclassification Where Impairment Was Not Previously Recognized | 0 | 0 | |||
Unrealized Gain Loss on Securities OTTI [Member] | |||||
Accumulated other comprehensive income (loss) | [1] | 3,902,000 | 4,183,000 | 3,861,000 | 3,411,000 |
Other Comprehensive Income Before Reclassifications | [1] | 55,000 | (8,000) | ||
Reclassified from Accumulated Oher Comprehensive Income | [1] | 0 | 68,000 | ||
Other Comprehensive Income (Loss), before Tax | [1] | 55,000 | 60,000 | ||
Other Comprehensive Income (Loss), Tax | [1] | (14,000) | (15,000) | ||
Other comprehensive income (loss), net of tax | [1] | 41,000 | 45,000 | ||
Reclassification Where Impairment Was Not Previously Recognized | 0 | 12,000 | |||
Unrealized Gain Loss on Securities Other [Member] | |||||
Accumulated other comprehensive income (loss) | [1] | 21,163,000 | (70,368,000) | (52,278,000) | 30,326,000 |
Other Comprehensive Income Before Reclassifications | [1] | 98,614,000 | (98,081,000) | ||
Reclassified from Accumulated Oher Comprehensive Income | [1] | (694,000) | (212,000) | ||
Other Comprehensive Income (Loss), before Tax | [1] | 97,920,000 | (98,293,000) | ||
Other Comprehensive Income (Loss), Tax | [1] | (24,479,000) | 24,572,000 | ||
Other comprehensive income (loss), net of tax | [1] | 73,441,000 | (73,721,000) | ||
Reclassification Where Impairment Was Not Previously Recognized | 0 | (12,000) | |||
Pension Loss [Member] | |||||
Accumulated other comprehensive income (loss) | [2] | (22,718,000) | (23,378,000) | (23,107,000) | (19,629,000) |
Other Comprehensive Income Before Reclassifications | [2] | 0 | 0 | ||
Reclassified from Accumulated Oher Comprehensive Income | [2] | 518,000 | 524,000 | ||
Other Comprehensive Income (Loss), before Tax | [2] | 518,000 | 524,000 | ||
Other Comprehensive Income (Loss), Tax | [2] | (129,000) | (131,000) | ||
Other comprehensive income (loss), net of tax | [2] | 389,000 | 393,000 | ||
Reclassification Where Impairment Was Not Previously Recognized | 0 | 0 | |||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||
Accumulated other comprehensive income (loss) | [2] | 9,634,000 | 0 | $ 6,855,000 | $ 0 |
Other Comprehensive Income Before Reclassifications | [2] | 3,027,000 | 0 | ||
Reclassified from Accumulated Oher Comprehensive Income | [2] | 678,000 | 0 | ||
Other Comprehensive Income (Loss), before Tax | [2] | 3,705,000 | 0 | ||
Other Comprehensive Income (Loss), Tax | [2] | (926,000) | 0 | ||
Other comprehensive income (loss), net of tax | [2] | 2,779,000 | 0 | ||
Reclassification Where Impairment Was Not Previously Recognized | $ 0 | 0 | |||
Accounting Standards Update 2018-02 [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 2,932,000 | ||||
Accounting Standards Update 2018-02 [Member] | Unrealized Gain Loss on Securities OTTI [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 715,000 | ||||
Accounting Standards Update 2018-02 [Member] | Unrealized Gain Loss on Securities Other [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 6,359,000 | ||||
Accounting Standards Update 2018-02 [Member] | Pension Loss [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (4,142,000) | ||||
Accounting Standards Update 2018-02 [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 0 | ||||
Accounting Standards Update 2016-01 [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (33,320,000) | ||||
Accounting Standards Update 2016-01 [Member] | Unrealized Gain Loss on Securities OTTI [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 0 | ||||
Accounting Standards Update 2016-01 [Member] | Unrealized Gain Loss on Securities Other [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (33,320,000) | ||||
Accounting Standards Update 2016-01 [Member] | Pension Loss [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 0 | ||||
Accounting Standards Update 2016-01 [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 0 | ||||
[1] | The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings are included in "investment securities gains (losses), net" in the consolidated statements of income. | ||||
[2] | The requirement to revalue deferred tax assets and liabilities in the period of enactment stranded the effects of the tax rate change, mandated by the Tax Cuts and Jobs Act, in accumulated other comprehensive income. In response, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which the Company adopted on January 1, 2018. This ASU allowed the reclassification of the stranded tax effects from accumulated other comprehensive income (as shown in the table above) to retained earnings.New accounting guidance, which was effective January 1, 2018, required the reclassification of unrealized gains on equity securities from accumulated other comprehensive income to retained earnings (also shown above). |
Segments Segments (Narrative) (
Segments Segments (Narrative) (Details) | 3 Months Ended | |
Mar. 31, 2019USD ($)Locations | Mar. 31, 2018USD ($) | |
Segments [Abstract] | ||
Number of Operating Segments | 3 | |
Segment Reporting Information, Intersegment Revenue | $ | $ 0 | $ 0 |
Number Of Locations | Locations | 170 |
Segments (Schedule Of Financial
Segments (Schedule Of Financial Information By Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Segment Reporting Information [Line Items] | |||
Net interest income | $ 203,488 | $ 192,892 | |
Provision for loan losses | (12,463) | (10,396) | |
Non-interest income | 121,240 | 119,690 | |
Investment securities gains (losses), net | [1] | (925) | 5,410 |
Non-interest expense | (191,425) | (182,277) | |
Income before income taxes | 119,915 | 125,319 | |
Consumer Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 76,897 | 71,021 | |
Provision for loan losses | (11,049) | (10,373) | |
Non-interest income | 29,171 | 30,216 | |
Investment securities gains (losses), net | 0 | 0 | |
Non-interest expense | (73,508) | (69,919) | |
Income before income taxes | 21,511 | 20,945 | |
Commercial Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 85,848 | 82,584 | |
Provision for loan losses | (618) | 180 | |
Non-interest income | 47,915 | 49,209 | |
Investment securities gains (losses), net | 0 | 0 | |
Non-interest expense | (76,838) | (72,778) | |
Income before income taxes | 56,307 | 59,195 | |
Wealth Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 11,676 | 11,445 | |
Provision for loan losses | 33 | (64) | |
Non-interest income | 44,332 | 42,103 | |
Investment securities gains (losses), net | 0 | 0 | |
Non-interest expense | (30,892) | (31,825) | |
Income before income taxes | 25,149 | 21,659 | |
Segment Totals [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 174,421 | 165,050 | |
Provision for loan losses | (11,634) | (10,257) | |
Non-interest income | 121,418 | 121,528 | |
Investment securities gains (losses), net | 0 | 0 | |
Non-interest expense | (181,238) | (174,522) | |
Income before income taxes | 102,967 | 101,799 | |
Other Elimination [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 29,067 | 27,842 | |
Provision for loan losses | (829) | (139) | |
Non-interest income | (178) | (1,838) | |
Investment securities gains (losses), net | (925) | 5,410 | |
Non-interest expense | (10,187) | (7,755) | |
Income before income taxes | $ 16,948 | $ 23,520 | |
[1] | Available for sale debt securities, equity securities, and other securities |
Derivative Instruments Derivati
Derivative Instruments Derivative Instruments (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Apr. 01, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | |||
Notional Amount of Derivatives | $ 3,277,127 | $ 3,254,921 | |
Interest Rate Floor [Member] | |||
Derivative [Line Items] | |||
Notional Amount of Derivatives | 1,000,000 | 1,000,000 | |
Premium paid for interest rate floor cash flow hedge | $ 20,700 | ||
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge | 6 years 5 months | ||
Unrealized gain (loss) on interest rate cash flow hedges, net of tax, amount recorded in accumulated other comprehensive income | $ 12,800 | ||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | (2,800) | ||
Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Notional Amount of Derivatives | 2,007,799 | 2,006,280 | |
Variation Margin Impact to Positive Fair Values of Cleared Swaps | (3,800) | (8,100) | |
Variation Margin Impact to Negative Fair Values of Cleared Swaps | $ (12,400) | $ (6,500) | |
Subsequent Event [Member] | Interest Rate Floor [Member] | |||
Derivative [Line Items] | |||
Notional Amount of Derivatives | $ 500,000 | ||
Premium paid for interest rate floor cash flow hedge | $ 10,700 | ||
Derivative, Floor Interest Rate | 2.00% | ||
Maximum [Member] | Interest Rate Floor [Member] | |||
Derivative [Line Items] | |||
Derivative, Floor Interest Rate | 2.50% | ||
Minimum [Member] | Interest Rate Floor [Member] | |||
Derivative [Line Items] | |||
Derivative, Floor Interest Rate | 2.25% |
Derivative Instruments (Schedul
Derivative Instruments (Schedule Of Notional Amounts Of Derivative Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Derivative [Line Items] | ||
Notional Amount of Derivatives | $ 3,277,127 | $ 3,254,921 |
Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 2,007,799 | 2,006,280 |
Interest Rate Floor [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 1,000,000 | 1,000,000 |
Interest Rate Caps [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 61,696 | 62,163 |
Credit Risk Participation Agreements [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 142,266 | 143,460 |
Foreign Exchange Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 6,710 | 6,206 |
Mortgage Loan Commitments [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 22,496 | 14,544 |
Mortgage Loan Forward Sale Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | 2,657 | 5,768 |
Forward TBA Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Derivatives | $ 33,503 | $ 16,500 |
Derivative Instruments (Sched_2
Derivative Instruments (Schedule Of Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||
Other assets | $ 51,691 | $ 41,210 |
Derivative Liabilities | 10,300 | 13,421 |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 32,058 | 29,031 |
Derivative Liabilities | 0 | 0 |
Designated as Hedging Instrument [Member] | Interest Rate Floor [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 32,058 | 29,031 |
Derivative Liabilities | 0 | 0 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 19,633 | 12,179 |
Derivative Liabilities | 10,300 | 13,421 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 18,641 | 11,537 |
Derivative Liabilities | 9,970 | 13,110 |
Not Designated as Hedging Instrument [Member] | Interest Rate Caps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 8 | 24 |
Derivative Liabilities | 8 | 24 |
Not Designated as Hedging Instrument [Member] | Credit Risk Participation Agreements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 92 | 47 |
Derivative Liabilities | 110 | 93 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 44 | 20 |
Derivative Liabilities | 16 | 8 |
Not Designated as Hedging Instrument [Member] | Mortgage Loan Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 823 | 536 |
Derivative Liabilities | 0 | 0 |
Not Designated as Hedging Instrument [Member] | Mortgage Loan Forward Sale Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 22 | 15 |
Derivative Liabilities | 0 | 8 |
Not Designated as Hedging Instrument [Member] | Forward TBA Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Other assets | 3 | 0 |
Derivative Liabilities | $ 196 | $ 178 |
Derivative Instruments Deriva_2
Derivative Instruments Derivative Instruments (Summary of Cash Flow Hedge Activity) (Details) - Designated as Hedging Instrument [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Summary of Cash Flow Hedge Activity [Line Items] | |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ 3,027 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 10,873 |
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax | (7,846) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | (678) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | (678) |
Interest Rate Floor [Member] | |
Summary of Cash Flow Hedge Activity [Line Items] | |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 3,027 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 10,873 |
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax | (7,846) |
Interest and Fee Income on Loans [Member] | Interest Rate Floor [Member] | |
Summary of Cash Flow Hedge Activity [Line Items] | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | (678) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | $ (678) |
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 | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | $ 384 | $ 1,221 |
Other Non-Interest Income [Member] | Interest Rate Swaps [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | 303 | 505 |
Other Non-Interest Income [Member] | Credit Risk Participation Agreements [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | 28 | 164 |
Other Non-Interest Income [Member] | Foreign Exchange Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | 16 | 9 |
Loans Fees And Sales [Member] | Mortgage Loan Commitments [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | 287 | 1 |
Loans Fees And Sales [Member] | Mortgage Loan Forward Sale Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | 16 | 0 |
Loans Fees And Sales [Member] | Forward TBA Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | $ (266) | $ 542 |
Derivative Instruments Deriva_3
Derivative Instruments Derivative Instruments (Balance Sheet Offsetting) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | $ 51,691 | $ 41,210 |
Derivative Asset, Amount Offset by Liabiilty | 0 | 0 |
Derivative Assets | 51,691 | 41,210 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 10,300 | 13,421 |
Derivative Liability, Amount Offset by Asset | 0 | 0 |
Derivative Liabilities | 10,300 | 13,421 |
Derivative Subject to Master Netting Agreement [Member] | ||
Derivative Asset, Fair Value, Gross Asset | 50,792 | 40,613 |
Derivative Asset, Amount Offset by Liabiilty | 0 | 0 |
Derivative Asset, Net Amount Presented in the Balance Sheet | 50,792 | 40,613 |
Derivative Asset, Not Offset, Policy Election Deduction | (4,695) | (2,992) |
derivatve asset, fair value of collateral | (28,385) | (26,174) |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 17,712 | 11,447 |
Derivative Liability, Fair Value, Gross Liability | 10,203 | 13,333 |
Derivative Liability, Amount Offset by Asset | 0 | 0 |
Derivative Liability, Net Amount Presented in the Balance Sheet | 10,203 | 13,333 |
Derivative Liability, Not Offset, Policy Election Deduction | (4,695) | (2,992) |
Derivative Liability, Fair Value of Collateral | (199) | (261) |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 5,309 | 10,080 |
Derivative Not Subject to Master Netting Agreement [Member] | ||
Derivative Asset, Fair Value, Gross Asset | 899 | 597 |
Derivative Asset, Amount Offset by Liabiilty | 0 | 0 |
Derivative Asset, Not Subject to Master Netting Arrangement | 899 | 597 |
Derivative Liability, Fair Value, Gross Liability | 97 | 88 |
Derivative Liability, Amount Offset by Asset | 0 | 0 |
Derivative Liability, Not Subject to Master Netting Arrangement | $ 97 | $ 88 |
Resale and Repurchase Agreeme_3
Resale and Repurchase Agreements Resale and Repurchase Agreements (Narrative) (Details) - Collateral Swap [Member] - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
Balance Sheet Offsetting [Line Items] | ||
Collateral Swap Agreements | $ 300 | $ 450 |
Collateral Already Posted, Aggregate Fair Value | 312.2 | |
Collateral Accepted, Aggregate Fair Value | $ 302.3 |
Resale and Repurchase Agreeme_4
Resale and Repurchase Agreements Resale and Repurchase Agreements (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Balance Sheet Offsetting [Line Items] | ||
Securities purchased under agreements to resell | $ 700,000 | $ 700,000 |
Resale agreement [Member] | ||
Balance Sheet Offsetting [Line Items] | ||
Securities Purchased under Agreements to Resell, Gross | 1,000,000 | 1,150,000 |
Securities Purchased under Agreements to Resell, Liability | (300,000) | (450,000) |
Securities purchased under agreements to resell | 700,000 | 700,000 |
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 | (700,000) | (700,000) |
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 | 1,760,376 | 2,393,219 |
Securities Sold under Agreements to Repurchase, Asset | (300,000) | (450,000) |
Securities Sold under Agreements to Repurchase | 1,460,376 | 1,943,219 |
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 | (1,460,376) | (1,943,219) |
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral | $ 0 | $ 0 |
Resale and Repurchase Agreeme_5
Resale and Repurchase Agreements Remaining Contractual Maturities of Repurchase Agreements (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
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 | $ 280,854 | $ 387,541 |
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 | 101,727 | 150,000 |
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 | 0 | 100,000 |
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 | 382,581 | 637,541 |
Government-Sponsored Enterprise Obligations [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 47,900 | 18,466 |
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 | 0 |
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 | 47,900 | 18,466 |
Agency Mortgage-Backed Securities [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 702,596 | 882,744 |
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 | 75,702 | 31,774 |
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 | 211,750 | 213,752 |
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 | 990,048 | 1,128,270 |
Non Agency Mortgage Backed Securities [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 135,495 | 187,740 |
Non 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 | 0 | 0 |
Non 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 | 0 | 0 |
Non 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 | 135,495 | 187,740 |
Asset-Backed Securities [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 67,987 | 322,680 |
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 | 40,000 | 0 |
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 | 107,987 | 322,680 |
Other Debt Securities [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 96,365 | 98,522 |
Other Debt Securities [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 |
Other Debt 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 |
Other Debt Securities [Member] | Total Repurchase Agreements [Member] [Domain] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 96,365 | 98,522 |
Repurchase Agreements [Member] | Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 1,331,197 | 1,897,693 |
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 | 217,429 | 181,774 |
Repurchase Agreements [Member] | Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | 211,750 | 313,752 |
Repurchase Agreements [Member] | Total Repurchase Agreements [Member] [Domain] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Repurchase Liability | $ 1,760,376 | $ 2,393,219 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated Share-based Compensation Expense | $ 3.5 | $ 3.3 |
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) | 3 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Nonvested Share Awards [Roll Forward] | |
Nonvested, Shares, Beginning Balance | shares | 1,180,940 |
Granted, Shares | shares | 178,446 |
Vested, Shares | shares | (291,519) |
Forfeited, Shares | shares | (3,246) |
Nonvested, Shares, Ending Balance | shares | 1,064,621 |
Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares | $ 43.24 |
Granted , Weighted Average Grant Date Fair Value | $ / shares | 61.87 |
Vested , Weighted Average Grant Date Fair Value | $ / shares | 32.68 |
Forfeited , Weighted Average Grant Date Fair Value | $ / shares | 49.41 |
Nonvested , Weighted Average Grant Date Fair Value, Ending Balance | $ / shares | $ 49.23 |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation (Current Year Per Share Average Fair Value and Valuation Model Assumptions) (Details) | 3 Months Ended |
Mar. 31, 2019$ / 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 | $ 11.92 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 1.70% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 19.80% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.60% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 6 years |
Stock-Based Compensation (Sum_2
Stock-Based Compensation (Summary Of SAR Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Stock Appreciation Rights [Roll Forward] | ||
Outstanding, Shares | 1,155,168 | 1,066,438 |
Granted, Shares | 186,825 | |
Forfeited, Shares | (1,479) | |
Expired, Shares | (682) | |
Exercised, Shares | (95,934) | |
Outstanding, Weighted Average Exercise Price, Beginning Balance | $ 40.22 | |
Granted, Weighted Average Exercise Price | 61.76 | |
Forfeited, Weighted Average Exercise Price | 51.16 | |
Expired, Weighted Average Exercise Price | 41.81 | |
Exercised, Weighted Average Exercise Price | 34.27 | |
Outstanding, Weighted Average Exercise Price, Ending Balance | $ 44.19 | |
Outstanding, Weighted Average Remaining Contractual Term (in years) | 7 years 1 month | |
Outstanding, Aggregate Intrinsic Value, Ending Balance | $ 16,717 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers Revenue from Contracts with Customers (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2019Rate | |
Revenue from Contract with Customer [Abstract] | |
Percent of Revenue not in scope of ASC 606 | 63.00% |
Revenue from Contracts with C_4
Revenue from Contracts with Customers (Schedule of Disaggregation of Revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Disaggregation of Revenue [Line Items] | |||
Non-interest income | $ 121,240 | $ 119,690 | |
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Non-interest income | 112,037 | 111,576 | |
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Bank Card Transaction Fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Non-interest income | 39,644 | 41,453 | |
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Trust Fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Non-interest income | 37,256 | 36,062 | |
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Deposit Account Charges and Other Fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Non-interest income | 23,018 | 22,982 | |
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Consumer Brokerage Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Non-interest income | 3,747 | 3,768 | |
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Other Non-Interest Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Non-interest income | 8,372 | 7,311 | |
Revenue Not In Scope of ASC 606 [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Non-interest income | [1] | $ 9,203 | $ 8,114 |
[1] | This revenue is not within the scope of ASU 2014-09, and includes fees relating to capital market activities, loan fees and sales, derivative instruments, standby letters of credit and various other transactions. |
Revenue from Contracts with C_5
Revenue from Contracts with Customers Revenue from Contracts with Customers (Schedule of Contract with Customer, Asset and Liability) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Bank Card Transaction Fees [Member] | ||||
Contract with Customer, Asset and Liability [Line Items] | ||||
Contract with Customer, Receivable | $ 11,016 | $ 13,035 | $ 10,978 | $ 13,315 |
Trust Fees [Member] | ||||
Contract with Customer, Asset and Liability [Line Items] | ||||
Contract with Customer, Receivable | 2,720 | 2,721 | 3,116 | 2,802 |
Deposit Account Charges and Other Fees [Member] | ||||
Contract with Customer, Asset and Liability [Line Items] | ||||
Contract with Customer, Receivable | 5,265 | 6,107 | 4,682 | 5,597 |
Consumer Brokerage Services [Member] | ||||
Contract with Customer, Asset and Liability [Line Items] | ||||
Contract with Customer, Receivable | $ 526 | $ 559 | $ 690 | $ 380 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Private equity investments | $ 85,877 | $ 85,659 |
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 | 14,500 | |
Private equity investments | $ 85,877 | $ 85,659 |
Fair Value Measurements (Summar
Fair Value Measurements (Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 8,908,000 | $ 13,529,000 |
U.S. government and federal agency obligations | 877,921,000 | 907,652,000 |
Government-sponsored enterprise obligations | 197,979,000 | 195,778,000 |
State and municipal obligations | 1,274,200,000 | 1,328,039,000 |
Agency mortgage-backed securities | 3,412,399,000 | 3,214,985,000 |
Non-agency mortgage-backed securities | 1,060,008,000 | 1,047,716,000 |
Other asset-backed securities | 1,470,516,000 | 1,511,614,000 |
Other debt securities | 334,867,000 | 332,257,000 |
Trading securities | 30,427,000 | 27,059,000 |
Equity securities with a readily determinable fair value | 2,808,000 | 2,585,000 |
Private equity investments | 85,877,000 | 85,659,000 |
Derivative Assets | 51,691,000 | 41,210,000 |
Assets held in trust for deferred compensation plan | 14,897,000 | 12,968,000 |
Assets, Fair Value Disclosure | 8,822,498,000 | 8,721,051,000 |
Derivative Liabilities | 10,300,000 | 13,421,000 |
Liabilities held in trust for deferred compensation plan | 14,897,000 | 12,968,000 |
Total Liabilities | 25,197,000 | 26,389,000 |
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 | 877,921,000 | 907,652,000 |
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 |
Trading securities | 0 | 0 |
Equity securities with a readily determinable fair value | 2,808,000 | 2,585,000 |
Private equity investments | 0 | 0 |
Derivative Assets | 0 | 0 |
Assets held in trust for deferred compensation plan | 14,897,000 | 12,968,000 |
Assets, Fair Value Disclosure | 895,626,000 | 923,205,000 |
Derivative Liabilities | 0 | 0 |
Liabilities held in trust for deferred compensation plan | 14,897,000 | 12,968,000 |
Total Liabilities | 14,897,000 | 12,968,000 |
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 | 8,908,000 | 13,529,000 |
U.S. government and federal agency obligations | 0 | 0 |
Government-sponsored enterprise obligations | 197,979,000 | 195,778,000 |
State and municipal obligations | 1,259,671,000 | 1,313,881,000 |
Agency mortgage-backed securities | 3,412,399,000 | 3,214,985,000 |
Non-agency mortgage-backed securities | 1,060,008,000 | 1,047,716,000 |
Other asset-backed securities | 1,470,516,000 | 1,511,614,000 |
Other debt securities | 334,867,000 | 332,257,000 |
Trading securities | 30,427,000 | 27,059,000 |
Equity securities with a readily determinable fair value | 0 | 0 |
Private equity investments | 0 | 0 |
Derivative Assets | 50,776,000 | 40,627,000 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Assets, Fair Value Disclosure | 7,825,551,000 | 7,697,446,000 |
Derivative Liabilities | 10,190,000 | 13,328,000 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Total Liabilities | 10,190,000 | 13,328,000 |
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 | 14,529,000 | 14,158,000 |
Agency mortgage-backed securities | 0 | 0 |
Non-agency mortgage-backed securities | 0 | 0 |
Other asset-backed securities | 0 | 0 |
Other debt securities | 0 | 0 |
Trading securities | 0 | 0 |
Equity securities with a readily determinable fair value | 0 | 0 |
Private equity investments | 85,877,000 | 85,659,000 |
Derivative Assets | 915,000 | 583,000 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Assets, Fair Value Disclosure | 101,321,000 | 100,400,000 |
Derivative Liabilities | 110,000 | 93,000 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Total Liabilities | $ 110,000 | $ 93,000 |
Fair Value Measurements (Summ_2
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 | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | $ 100,307 | $ 73,271 |
Total gains or losses (realized /unrealized), included in earnings | (1,527) | 4,470 |
Total gains or losses (realized/unrealized) included in other comprehensive income (loss) | 364 | 133 |
Discount accretion | 7 | 9 |
Purchase of private equity securities | 2,060 | 4,879 |
Sales And Repayments Of Private Equity Securities | 0 | (20) |
Capitalized interest/dividends | 0 | 35 |
Sale Of Risk Participation Agreement | 0 | (148) |
Ending balance | 101,211 | 82,629 |
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end | (991) | 5,050 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | 14,158 | 17,016 |
Total gains or losses (realized /unrealized), included in earnings | 0 | 0 |
Total gains or losses (realized/unrealized) included in other comprehensive income (loss) | 364 | 133 |
Discount accretion | 7 | 9 |
Purchase of private equity securities | 0 | 0 |
Sales And Repayments Of Private Equity Securities | 0 | 0 |
Capitalized interest/dividends | 0 | 0 |
Sale Of Risk Participation Agreement | 0 | 0 |
Ending balance | 14,529 | 17,158 |
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 |
Private Equity Funds [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | 85,659 | 55,752 |
Total gains or losses (realized /unrealized), included in earnings | (1,842) | 4,305 |
Total gains or losses (realized/unrealized) included in other comprehensive income (loss) | 0 | 0 |
Discount accretion | 0 | 0 |
Purchase of private equity securities | 2,060 | 4,879 |
Sales And Repayments Of Private Equity Securities | 0 | (20) |
Capitalized interest/dividends | 0 | 35 |
Sale Of Risk Participation Agreement | 0 | 0 |
Ending balance | 85,877 | 64,951 |
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end | (1,842) | 4,305 |
Derivative Level Three Unobservable Inputs [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | 490 | 503 |
Total gains or losses (realized /unrealized), included in earnings | 315 | 165 |
Total gains or losses (realized/unrealized) included in other comprehensive income (loss) | 0 | 0 |
Discount accretion | 0 | 0 |
Purchase of private equity securities | 0 | 0 |
Sales And Repayments Of Private Equity Securities | 0 | 0 |
Capitalized interest/dividends | 0 | 0 |
Sale Of Risk Participation Agreement | 0 | (148) |
Ending balance | 805 | 520 |
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end | $ 851 | $ 745 |
Fair Value Measurements (Summ_3
Fair Value Measurements (Summary Of Gains And Losses On Level 3 Assets And Liabilities) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items] | ||
Total gains or losses included in earnings | $ (1,527) | $ 4,470 |
Change in unrealized gains or losses relating to assets still held | (991) | 5,050 |
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 | 287 | 2 |
Change in unrealized gains or losses relating to assets still held | 823 | 582 |
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 | 28 | 163 |
Change in unrealized gains or losses relating to assets still held | 28 | 163 |
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 | (1,842) | 4,305 |
Change in unrealized gains or losses relating to assets still held | $ (1,842) | $ 4,305 |
Fair Value Measurements (Summ_4
Fair Value Measurements (Summary Of Quantitative Information About Level 3 Fair Value Measurements) (Details) | 3 Months Ended |
Mar. 31, 2019Rate | |
Auction Rate Securities [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Valuation Technique, Discounted cash flow | Discounted cash flow |
Auction Rate Securities [Member] | Minimum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Unobservable Input, Estimated market recovery period | 4 years |
Unobservable Input, Estimated market rate | 3.40% |
Auction Rate Securities [Member] | Maximum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Unobservable Input, Estimated market recovery period | 5 years |
Unobservable Input, Estimated market rate | 4.30% |
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, amortization (EBITDA) 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, amortization (EBITDA) multiple | 6 |
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 | 79.30% |
Weighted Average, Embedded Servicing Value | 1.30% |
Mortgage Loan Commitments [Member] | Minimum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Probability of Funding | 50.80% |
Embedded Servicing Value | 0.60% |
Mortgage Loan Commitments [Member] | Maximum [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Probability of Funding | 99.10% |
Embedded Servicing Value | 2.40% |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule of Fair Value Disclosures Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Collateral Dependent Impaired Loans | $ 129 | $ 39 |
Loans Nonrecurring Basis Gains (Losses) | 170 | (12) |
Mortgage servicing rights | 6,341 | 5,105 |
Mortgage Servicing Rights Nonrecurring Basis Gains (Losses) | (260) | 9 |
Long-lived assets | 134 | 914 |
Long Lived Assets Nonrecurring Basis Gains (Losses) | (14) | (552) |
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 |
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 |
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 | 129 | 39 |
Mortgage servicing rights | 6,341 | 5,105 |
Long-lived assets | $ 134 | $ 914 |
Fair Value Of Financial Instr_3
Fair Value Of Financial Instruments (Schedule Of Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans held for sale | $ 8,900 | |
Securities purchased under agreements to resell | 700,000 | $ 700,000 |
Interest earning deposits with banks | 166,077 | 689,876 |
Cash and due from banks | 428,018 | 507,892 |
Derivative Assets | 51,691 | 41,210 |
Assets held in trust for deferred compensation plan | 14,897 | 12,968 |
Assets, Fair Value Disclosure | 8,822,498 | 8,721,051 |
Non-interest bearing deposits | 6,298,724 | 6,980,298 |
Savings, interest checking and money market deposits | 11,799,346 | 11,685,239 |
Other borrowings | 2,022 | 8,702 |
Derivative Liabilities | 10,300 | 13,421 |
Liabilities held in trust for deferred compensation plan | 14,897 | 12,968 |
Fair Value Hierarchy, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | 0 |
Assets held in trust for deferred compensation plan | 14,897 | 12,968 |
Assets, Fair Value Disclosure | 895,626 | 923,205 |
Derivative Liabilities | 0 | 0 |
Liabilities held in trust for deferred compensation plan | 14,897 | 12,968 |
Fair Value Hierarchy, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 50,776 | 40,627 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Assets, Fair Value Disclosure | 7,825,551 | 7,697,446 |
Derivative Liabilities | 10,190 | 13,328 |
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] | ||
Derivative Assets | 915 | 583 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Assets, Fair Value Disclosure | 101,321 | 100,400 |
Derivative Liabilities | 110 | 93 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 14,120,722 | 14,140,298 |
Loans held for sale | 20,085 | 20,694 |
Investments, Fair Value Disclosure | 8,792,515 | 8,698,666 |
Federal funds sold | 250 | 3,320 |
Securities purchased under agreements to resell | 700,000 | 700,000 |
Interest earning deposits with banks | 166,077 | 689,876 |
Cash and due from banks | 428,018 | 507,892 |
Derivative Assets | 51,691 | 41,210 |
Assets held in trust for deferred compensation plan | 14,897 | 12,968 |
Assets, Fair Value Disclosure | 24,294,255 | 24,814,924 |
Non-interest bearing deposits | 6,298,724 | 6,980,298 |
Savings, interest checking and money market deposits | 11,799,346 | 11,685,239 |
Certificates of deposits | 1,876,283 | 1,658,122 |
Federal Funds Purchased, Fair Value Disclosure | 262,375 | 13,170 |
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure | 1,460,376 | 1,943,219 |
Other borrowings | 1,932 | 8,702 |
Derivative Liabilities | 10,300 | 13,421 |
Liabilities held in trust for deferred compensation plan | 14,897 | 12,968 |
Financial Liabilities Fair Value Disclosure | 21,724,233 | 22,315,139 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 5,175,541 | 5,106,427 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Real Estate - Construction And Land [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 925,269 | 869,659 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Real Estate - Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,859,614 | 2,875,788 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Real Estate - Personal [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,125,087 | 2,127,083 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Consumer [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 1,893,212 | 1,955,572 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Revolving Home Equity [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 364,010 | 376,399 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Consumer Credit Card [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 772,396 | 814,134 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Overdrafts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 5,593 | 15,236 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 13,892,972 | 13,866,003 |
Loans held for sale | 20,085 | 20,694 |
Investments, Fair Value Disclosure | 8,792,515 | 8,698,666 |
Federal funds sold | 250 | 3,320 |
Securities purchased under agreements to resell | 700,588 | 693,228 |
Interest earning deposits with banks | 166,077 | 689,876 |
Cash and due from banks | 428,018 | 507,892 |
Derivative Assets | 51,691 | 41,210 |
Assets held in trust for deferred compensation plan | 14,897 | 12,968 |
Assets, Fair Value Disclosure | 24,067,093 | 24,533,857 |
Non-interest bearing deposits | 6,298,724 | 6,980,298 |
Savings, interest checking and money market deposits | 11,799,346 | 11,685,239 |
Certificates of deposits | 1,887,103 | 1,663,748 |
Federal Funds Purchased, Fair Value Disclosure | 262,375 | 13,170 |
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure | 1,461,343 | 1,944,458 |
Other borrowings | 1,932 | 8,702 |
Derivative Liabilities | 10,300 | 13,421 |
Liabilities held in trust for deferred compensation plan | 14,897 | 12,968 |
Financial Liabilities Fair Value Disclosure | 21,736,020 | 22,322,004 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 5,110,404 | 5,017,694 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Real Estate - Construction And Land [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 922,877 | 868,274 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Real Estate - Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,847,793 | 2,846,095 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Real Estate - Personal [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 2,076,475 | 2,084,370 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Consumer [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 1,851,010 | 1,916,627 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Revolving Home Equity [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 359,856 | 365,069 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Credit Card [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 720,563 | 756,651 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Overdrafts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 3,994 | 11,223 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Loans held for sale | 0 | 0 |
Investments, Fair Value Disclosure | 880,729 | 910,237 |
Federal funds sold | 250 | 3,320 |
Securities purchased under agreements to resell | 0 | 0 |
Interest earning deposits with banks | 166,077 | 689,876 |
Cash and due from banks | 428,018 | 507,892 |
Derivative Assets | 0 | 0 |
Assets held in trust for deferred compensation plan | 14,897 | 12,968 |
Assets, Fair Value Disclosure | 1,489,971 | 2,124,293 |
Non-interest bearing deposits | 6,298,724 | 6,980,298 |
Savings, interest checking and money market deposits | 11,799,346 | 11,685,239 |
Certificates of deposits | 0 | 0 |
Federal Funds Purchased, Fair Value Disclosure | 262,375 | 13,170 |
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure | 0 | 0 |
Other borrowings | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Liabilities held in trust for deferred compensation plan | 14,897 | 12,968 |
Financial Liabilities Fair Value Disclosure | 18,375,342 | 18,691,675 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Real Estate - Construction And Land [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Real Estate - Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Real Estate - Personal [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Consumer [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Revolving Home Equity [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Credit Card [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Overdrafts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Loans held for sale | 20,085 | 20,694 |
Investments, Fair Value Disclosure | 7,765,867 | 7,643,290 |
Federal funds sold | 0 | 0 |
Securities purchased under agreements to resell | 0 | 0 |
Interest earning deposits with banks | 0 | 0 |
Cash and due from banks | 0 | 0 |
Derivative Assets | 50,776 | 40,627 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Assets, Fair Value Disclosure | 7,836,728 | 7,704,611 |
Non-interest bearing deposits | 0 | 0 |
Savings, interest checking and money market deposits | 0 | 0 |
Certificates of deposits | 0 | 0 |
Federal Funds Purchased, Fair Value Disclosure | 0 | 0 |
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure | 0 | 0 |
Other borrowings | 1,035 | 7,751 |
Derivative Liabilities | 10,190 | 13,328 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Financial Liabilities Fair Value Disclosure | 11,225 | 21,079 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Real Estate - Construction And Land [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Real Estate - Business [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Real Estate - Personal [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Consumer [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Revolving Home Equity [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Credit Card [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Overdrafts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 13,892,972 | 13,866,003 |
Loans held for sale | 0 | 0 |
Investments, Fair Value Disclosure | 145,919 | 145,139 |
Federal funds sold | 0 | 0 |
Securities purchased under agreements to resell | 700,588 | 693,228 |
Interest earning deposits with banks | 0 | 0 |
Cash and due from banks | 0 | 0 |
Derivative Assets | 915 | 583 |
Assets held in trust for deferred compensation plan | 0 | 0 |
Assets, Fair Value Disclosure | 14,740,394 | 14,704,953 |
Non-interest bearing deposits | 0 | 0 |
Savings, interest checking and money market deposits | 0 | 0 |
Certificates of deposits | 1,887,103 | 1,663,748 |
Federal Funds Purchased, Fair Value Disclosure | 0 | 0 |
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure | 1,461,343 | 1,944,458 |
Other borrowings | 897 | 951 |
Derivative Liabilities | 110 | 93 |
Liabilities held in trust for deferred compensation plan | 0 | 0 |
Financial Liabilities Fair Value Disclosure | 3,349,453 | 3,609,250 |
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 | 5,110,404 | 5,017,694 |
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 | 922,877 | 868,274 |
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 | 2,847,793 | 2,846,095 |
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 | 2,076,475 | 2,084,370 |
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 | 1,851,010 | 1,916,627 |
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 | 359,856 | 365,069 |
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 | 720,563 | 756,651 |
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 | $ 3,994 | $ 11,223 |