Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 27, 2016 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | FIRSTMERIT CORP /OH/ | |
Entity Central Index Key | 354,869 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 166,167,956 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
ASSETS | |||
Cash and due from banks | $ 420,818 | $ 380,799 | $ 472,848 |
Interest-bearing deposits in banks | 103,469 | 83,018 | 114,741 |
Total cash and cash equivalents | 524,287 | 463,817 | 587,589 |
Investment securities: | |||
Held-to-maturity | 2,514,161 | 2,674,093 | 2,787,513 |
Available-for-sale | 4,318,688 | 3,967,735 | 3,838,509 |
Other investments | 148,367 | 148,172 | 147,967 |
Loans held for sale | 3,962 | 5,472 | 5,432 |
Loans | 16,343,606 | 16,076,945 | 15,705,110 |
Allowance for loan losses | (149,649) | (153,691) | (148,259) |
Net loans | 16,193,957 | 15,923,254 | 15,556,851 |
Premises and equipment, net | 293,209 | 319,488 | 313,819 |
Goodwill | 741,740 | 741,740 | 741,740 |
Intangible assets | 56,020 | 60,628 | 65,824 |
Covered other real estate | 940 | 2,134 | 1,065 |
Accrued interest receivable and other assets | 1,355,256 | 1,218,071 | 1,250,705 |
Total assets | 26,150,587 | 25,524,604 | 25,297,014 |
Deposits: | |||
Noninterest-bearing | 6,011,531 | 5,942,248 | 5,725,850 |
Interest-bearing | 3,477,483 | 3,476,729 | 3,304,969 |
Savings and money market accounts | 9,354,868 | 8,450,123 | 8,418,716 |
Certificates and other time deposits | 2,108,761 | 2,238,903 | 2,224,315 |
Total deposits | 20,952,643 | 20,108,003 | 19,673,850 |
Federal funds purchased and securities sold under agreements to repurchase | 686,890 | 1,037,075 | 1,519,250 |
Wholesale borrowings | 468,447 | 580,648 | 366,074 |
Long-term debt | 526,389 | 505,173 | 497,393 |
Accrued taxes, expenses and other liabilities | 469,059 | 353,610 | 352,490 |
Total liabilities | 23,103,428 | 22,584,509 | 22,409,057 |
Shareholders' equity: | |||
5.875% Non-Cumulative Perpetual Preferred Stock, Series A, without par value: authorized 115,000 shares; 100,000 issued | 100,000 | 100,000 | 100,000 |
Common Stock warrant | 0 | 0 | 0 |
Common Stock, without par value; authorized 300,000,000 shares; issued: June 30, 2016, December 31, 2015 and June 30, 2015 - 170,183,515 shares | 127,937 | 127,937 | 127,937 |
Capital surplus | 1,383,266 | 1,386,677 | 1,379,194 |
Accumulated other comprehensive loss | (29,473) | (79,274) | (67,621) |
Retained earnings | 1,572,681 | 1,519,438 | 1,462,859 |
Treasury stock, at cost: June 30, 2016 - 4,014,513; December 31, 2015 - 4,425,927; June 30, 2015 - 4,410,939 shares | (107,252) | (114,683) | (114,412) |
Total shareholders' equity | 3,047,159 | 2,940,095 | 2,887,957 |
Total liabilities and shareholders' equity | $ 26,150,587 | $ 25,524,604 | $ 25,297,014 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Statement of Financial Position [Abstract] | |||
Common stock, shares authorized | 300,000,000 | 300,000,000 | 300,000,000 |
Common stock, shares issued | 170,183,515 | 170,183,515 | 170,183,515 |
Non-cumulative Perpetual Preferred Stock, Series A, Shares Authorized | 115,000 | 115,000 | 115,000 |
Non-Cumulative Perpetual Preferred stock, Series A, Shares Outstanding | 100,000 | 100,000 | 100,000 |
Treasury stock, at cost | 4,014,513 | 4,425,927 | 4,410,939 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income: | ||||
Loans and loans held for sale | $ 162,977 | $ 161,872 | $ 325,255 | $ 323,411 |
Investment securities: | ||||
Taxable | 33,350 | 32,175 | 66,499 | 64,125 |
Tax-exempt | 5,013 | 5,327 | 10,274 | 11,353 |
Total investment securities interest | 38,363 | 37,502 | 76,773 | 75,478 |
Total interest income | 201,340 | 199,374 | 402,028 | 398,889 |
Deposits: | ||||
Interest bearing | 1,013 | 783 | 1,942 | 1,550 |
Savings and money market accounts | 5,641 | 5,588 | 11,293 | 11,135 |
Certificates and other time deposits | 3,116 | 2,510 | 6,405 | 4,687 |
Federal funds purchased and securities sold under agreements to repurchase | 109 | 329 | 374 | 572 |
Wholesale borrowings | 1,121 | 1,129 | 2,355 | 2,289 |
Long-term debt | 4,262 | 3,917 | 8,425 | 7,915 |
Total interest expense | 15,262 | 14,256 | 30,794 | 28,148 |
Net interest income | 186,078 | 185,118 | 371,234 | 370,741 |
Provision for loan losses | 6,391 | 8,966 | 14,200 | 17,214 |
Net interest income after provision for loan losses | 179,687 | 176,152 | 357,034 | 353,527 |
Noninterest income: | ||||
Trust department income | 11,167 | 10,820 | 21,451 | 20,969 |
Service charges on deposits | 16,263 | 16,704 | 31,849 | 32,372 |
Credit card fees | 14,942 | 14,124 | 28,520 | 26,773 |
ATM and other service fees | 6,427 | 6,345 | 12,661 | 12,444 |
Bank owned life insurance income | 4,186 | 3,697 | 7,882 | 7,289 |
Investment services and insurance | 3,851 | 3,871 | 7,756 | 7,575 |
Investment securities gains/(losses), net | 2,164 | 567 | 2,459 | 921 |
Loan sales and servicing income | 1,995 | 3,276 | 3,847 | 4,876 |
Other operating income | 4,120 | 7,178 | 16,084 | 19,210 |
Total noninterest income | 65,115 | 66,582 | 132,509 | 132,429 |
Noninterest expense: | ||||
Salaries, wages, pension and employee benefits | 86,789 | 86,020 | 172,669 | 176,546 |
Net occupancy expense | 13,466 | 13,727 | 28,240 | 29,681 |
Equipment expense | 12,078 | 12,592 | 24,486 | 23,617 |
Stationery, supplies and postage | 2,945 | 3,370 | 6,564 | 6,898 |
Bankcard, loan processing and other costs | 12,269 | 12,461 | 23,277 | 23,600 |
Professional services | 4,467 | 5,358 | 12,818 | 9,368 |
Amortization of intangibles | 2,304 | 2,598 | 4,608 | 5,196 |
FDIC insurance expense | 5,192 | 5,077 | 10,637 | 10,244 |
Other operating expense | 20,810 | 20,471 | 43,984 | 37,176 |
Total noninterest expense | 160,320 | 161,674 | 327,283 | 322,326 |
Income before income tax expense | 84,482 | 81,060 | 162,260 | 163,630 |
Income tax expense | 26,173 | 24,476 | 49,815 | 49,907 |
Net income | 58,309 | 56,584 | 112,445 | 113,723 |
Less: Net income allocated to participating shareholders | 496 | 467 | 955 | 937 |
Preferred Stock dividends | 1,469 | 1,469 | 2,938 | 2,938 |
Net income attributable to common shareholders | 56,344 | 54,648 | 108,552 | 109,848 |
Net income used in diluted EPS calculation | $ 56,344 | $ 54,648 | $ 108,552 | $ 109,848 |
Weighted average number of common shares outstanding - basic | 166,188 | 165,736 | 165,966 | 165,574 |
Weighted average number of common shares outstanding - diluted | 166,807 | 166,277 | 166,563 | 166,089 |
Basic earnings per common share (in dollars per share) | $ 0.34 | $ 0.33 | $ 0.65 | $ 0.66 |
Diluted earnings per common share (in dollars per share) | 0.34 | 0.33 | 0.65 | 0.66 |
Cash dividend per common share (in dollars per share) | $ 0.17 | $ 0.16 | $ 0.34 | $ 0.32 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income, Pretax | $ 84,482 | $ 81,060 | $ 162,260 | $ 163,630 |
Net Income, Tax | 26,173 | 24,476 | 49,815 | 49,907 |
Net income | 58,309 | 56,584 | 112,445 | 113,723 |
Changes in unrealized securities' holding gains/(losses), before Tax | 31,489 | (28,642) | 79,868 | 5,475 |
Changes in unrealized securities' holding gains/(losses), Tax | 11,431 | (10,024) | 28,994 | 1,916 |
Changes in unrealized securities' holding gains/(losses), After-tax | 20,058 | (18,618) | 50,874 | 3,559 |
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity, before Tax | (221) | (575) | (1,072) | (1,079) |
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity, Tax | (79) | (203) | (14) | (378) |
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity , Net of Tax | (142) | (372) | (1,058) | (701) |
Net losses/(gains) realized on sale of securities reclassified to noninterest income, before Tax | (2,164) | (567) | (2,459) | (921) |
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Tax | (786) | (198) | (892) | (322) |
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Net of Tax | 1,378 | 369 | 1,567 | 599 |
Net change in unrealized gains/(losses) on securities available for sale, before Tax | 29,104 | (29,784) | 76,337 | 3,475 |
Net change in unrealized gains/(losses) on securities available for sale, Tax | 10,566 | (10,425) | 28,088 | 1,216 |
Net change in unrealized gains/(losses) on securities available for sale, Net of Tax | 18,538 | (19,359) | 48,249 | 2,259 |
Amortization of actuarial losses/(gains), before Tax | 1,076 | 1,138 | 3,244 | 2,276 |
Amortization of actuarial losses/(gains), Tax | 390 | 399 | 1,163 | 797 |
Amortization of actuarial losses/(gains), Net of Tax | 686 | 739 | 2,081 | 1,479 |
Amortization of prior service cost reclassified to other noninterest expense, before Tax | (560) | 410 | (820) | 820 |
Amortization of prior service cost reclassified to other noninterest expense, Tax | (204) | 144 | (291) | 287 |
Amortization of prior service cost reclassified to other noninterest expense, After-tax | (356) | 266 | (529) | 533 |
Net change from defined benefit pension plans, before Tax | 516 | 1,548 | 2,424 | 3,096 |
Net change from defined benefit pension plans, Tax | 186 | 543 | 872 | 1,084 |
Net change from defined benefit pension plans, Net of Tax | 330 | 1,005 | 1,552 | 2,012 |
Total other comprehensive gains/(losses), before Tax | 29,620 | (28,236) | 78,761 | 6,571 |
Total other comprehensive gains/(losses), Tax | 10,752 | (9,882) | 28,960 | 2,300 |
Total other comprehensive gains/(losses), Net of Tax | 18,868 | (18,354) | 49,801 | 4,271 |
Comprehensive Income, before Tax, Portion Attributable to Parent | 114,102 | 52,824 | 241,021 | 170,201 |
Comprehensive Income, Tax, Portion Attributable to Parent | 36,925 | 14,594 | 78,775 | 52,207 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 77,177 | $ 38,230 | $ 162,246 | $ 117,994 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock | Common Stock | Warrant | Capital Surplus | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Treasury Stock |
Beginning Balance at Dec. 31, 2014 | $ 2,834,281 | $ 100,000 | $ 127,937 | $ 3,000 | $ 1,393,090 | $ (71,892) | $ 1,404,717 | $ (122,571) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 113,723 | 113,723 | ||||||
Other comprehensive income | 4,271 | 4,271 | ||||||
Comprehensive income | 117,994 | 4,271 | 113,723 | |||||
Cash dividends - Preferred Stock | (2,938) | (2,938) | ||||||
Cash dividends - common stock | (52,643) | (52,643) | ||||||
Nonvested (restricted) shares granted | 0 | (14,340) | 14,340 | |||||
Restricted Stock Activity | (4,253) | 1,291 | (5,544) | |||||
Deferred compensation trust | 0 | 637 | (637) | |||||
Share-based compensation | 7,666 | 7,666 | ||||||
Adjustments to Additional Paid in Capital, Warrant Issued | (3,000) | |||||||
Adjustments to Additional Paid in Capital, Other | (9,150) | |||||||
Repurchase of common stock warrant | (12,150) | |||||||
Ending Balance at Jun. 30, 2015 | 2,887,957 | 100,000 | 127,937 | 0 | 1,379,194 | (67,621) | 1,462,859 | (114,412) |
Beginning Balance at Dec. 31, 2015 | 2,940,095 | 100,000 | 127,937 | 0 | 1,386,677 | (79,274) | 1,519,438 | (114,683) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 112,445 | 0 | 0 | 112,445 | ||||
Other comprehensive income | 49,801 | 49,801 | ||||||
Comprehensive income | 162,246 | 0 | 0 | 0 | 0 | 49,801 | 112,445 | 0 |
Cash dividends - Preferred Stock | (2,938) | 0 | 0 | 0 | 0 | 0 | (2,938) | 0 |
Cash dividends - common stock | (56,264) | 0 | (56,264) | |||||
Nonvested (restricted) shares granted | 0 | 0 | (12,900) | 12,900 | ||||
Restricted Stock Activity | (4,177) | 0 | 701 | (4,878) | ||||
Deferred compensation trust | 0 | 0 | 591 | (591) | ||||
Share-based compensation | 8,197 | 0 | 8,197 | 0 | ||||
Adjustments to Additional Paid in Capital, Other | (9,200) | |||||||
Repurchase of common stock warrant | 0 | |||||||
Ending Balance at Jun. 30, 2016 | $ 3,047,159 | $ 100,000 | $ 127,937 | $ 0 | $ 1,383,266 | $ (29,473) | $ 1,572,681 | $ (107,252) |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividend per common share (in dollars per share) | $ 0.34 | $ 0.32 |
Options exercised in the period | 0 | 0 |
Nonvested (restricted) shares granted | 633,286 | 659,432 |
Restricted stock activity | (221,872) | (276,805) |
Deferred compensation trust | (109,130) | (234,703) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Operating Activities | ||
Net income | $ 112,445 | $ 113,723 |
Adjustments to reconcile net income to net cash provided and used by operating activities: | ||
Provision for loan losses | 14,200 | 17,214 |
Provision/(benefit) for deferred income taxes | 22,893 | 4,162 |
Depreciation and amortization | 32,635 | 31,274 |
Benefit attributable to FDIC loss share | 257 | 6,046 |
Accretion of acquired loans | (33,978) | (51,170) |
Amortization and accretion of investment securities, net | ||
Available-for-sale | 5,062 | 5,407 |
Held-to-maturity | 1,866 | 2,110 |
Losses/(gains) on sales and calls of available-for-sale investment securities, net | (2,756) | (921) |
Originations of loans held for sale | (14,060) | (51,673) |
Proceeds from sales of loans, primarily mortgage loans sold in the secondary markets | 15,938 | 60,429 |
Gains on sales of loans, net | (368) | (760) |
Amortization of intangible assets | 4,608 | 5,196 |
Recognition of stock compensation expense | 8,197 | 7,666 |
Net decrease/(increase) in other assets | (171,074) | 1,442 |
Net increase/(decrease) in other liabilities | 142,897 | (1,519) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 138,762 | 148,626 |
Proceeds from sale of investment securities | ||
Available-for-sale | (113) | 171,725 |
Held-to-maturity | 0 | 668 |
Other | 0 | 1,015 |
Proceeds from prepayments, calls, and maturities of investment securities | ||
Available-for-sale | 319,566 | 285,541 |
Held-to-maturity | 214,489 | 211,636 |
Other | 0 | 165 |
Purchases of investment securities | ||
Available-for-sale | (616,645) | (758,486) |
Held-to-maturity | (57,469) | (94,756) |
Other | (221) | (172) |
Net decrease/(increase) in loans and leases | (262,863) | (356,117) |
Purchases of premises and equipment | (2,412) | (9,950) |
Sales of premises and equipment | 8,501 | 8,407 |
NET CASH PROVIDED/(USED) BY INVESTING ACTIVITIES | (397,167) | (540,324) |
Financing Activities | ||
Net increase in demand accounts | 70,037 | 215,269 |
Net increase/(decrease) in savings and money market accounts | 904,745 | 19,104 |
Net decrease in certificates and other time deposits | (130,142) | (65,188) |
Net increase/(decrease) in securities sold under agreements to repurchase | (350,185) | 246,659 |
Net increase/(decrease) in wholesale borrowings | (112,201) | (61,997) |
Repurchase of common stock warrant | 0 | (12,150) |
Cash dividends - common | (56,264) | (52,643) |
Cash dividends - preferred | (2,938) | (2,938) |
Restricted stock activity | (4,177) | (4,253) |
NET CASH PROVIDED/(USED) BY FINANCING ACTIVITIES | 318,875 | 281,863 |
Increase/(Decrease) in cash and cash equivalents | 60,470 | (109,835) |
Cash and cash equivalents at beginning of year | 463,817 | 697,424 |
Cash and cash equivalents at end of year | 524,287 | 587,589 |
Cash paid during period for: | ||
Interest | 30,920 | 27,970 |
Federal income taxes | $ 4,859 | $ 26,125 |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | FirstMerit Corporation and subsidiaries is a diversified financial services company headquartered in Akron, Ohio with 359 banking offices in the Ohio, Michigan, Wisconsin, Illinois, and Pennsylvania areas. The Corporation provides a complete range of banking and other financial services to consumers and businesses through its core operations. On January 26, 2016, the Corporation and Huntington Bancshares Incorporated (“Huntington”)announced the signing of a definitive merger agreement under which the Corporation will merge into a subsidiary of Huntington in a stock and cash transaction. Based on the closing price of Huntington's common shares on January 25, 2016 of $8.80 , the total transaction value is approximately $3.40 billion , including outstanding options and other equity-linked securities. Under the terms of the definitive merger agreement, the Corporation will merge with a subsidiary of Huntington Bancshares, and FirstMerit Bank will merge with and into The Huntington National Bank. In conjunction with the closing of the transaction, four independent members of the Corporation’s Board of Directors will join the Huntington Board, which will be expanded accordingly. Shareholders of the Corporation will receive 1.72 shares of Huntington common stock, and $5.00 in cash, for each share of the Corporation common stock. The per share consideration is valued at $20.14 per share based on the closing price of Huntington Common Stock on January 25, 2016. The respective shareholders of Huntington and the Corporation approved the proposed merger of FirstMerit into Huntington during special meetings held on June 13, 2016 in Akron, Ohio by FirstMerit and in Columbus, Ohio by Huntington. The transaction is expected to be completed in the third quarter of 2016, subject to the satisfaction of customary closing conditions, including regulatory approvals. Summary of Significant Accounting Policies Unless otherwise indicated, defined terms and abbreviations used herein have the meanings set forth in the accompanying Glossary of Acronyms and Abbreviations. Basis of Presentation - FirstMerit Corporation is a BHC whose principal asset is the Common Stock of its wholly-owned subsidiary, FirstMerit Bank, N. A. The Parent Company’s other subsidiaries include Citizens Savings Corporation of Stark County, FirstMerit Capital Trust I, and FirstMerit Risk Management, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. The accounting and reporting policies of the Corporation conform to GAAP and to general practices within the financial services industry. The Consolidated Balance Sheet at December 31, 2015 has been derived from the audited consolidated financial statements at that date. The accompanying unaudited interim financial statements reflect all adjustments (consisting only of normally recurring adjustments) that are, in the opinion of Management, necessary for a fair statement of the results for the interim periods presented. Certain reclassifications of prior year’s amounts have been made to conform to the current year presentation. Such reclassifications had no effect on net earnings or equity. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules of the SEC. The unaudited consolidated financial statements of the Corporation as of June 30, 2016 and 2015 are not necessarily indicative of the results that may be achieved for the full fiscal year or for any future period. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015 (the “ 2015 Form 10-K”). There have been no significant changes in the current quarter to the Corporation’s accounting policies as disclosed in the 2015 Form 10-K. In preparing these accompanying unaudited interim consolidated financial statements, subsequent events were evaluated through the time the consolidated financial statements were issued. Recently Adopted Accounting Standards FASB ASU 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments. The amendments in ASU 2015-16 require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this update will be applied prospectively to adjustments to provisional amounts that occur after the effective date of this update with earlier application permitted for financial statements that have not been issued. The adoption of this guidance did not have a material effect on the Corporation's financial position or results of operations. FASB ASU 2015-5 , Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. In addition, the guidance in this update supersedes 350-40-25-16. Consequently, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets. The amendments are effective for public business entities for annual and interim periods within those annual periods, beginning after December 15, 2015. An entity can elect to adopt the amendments either (1) prospectively to all arrangements entered into or materially modified after the effective date or (2) retrospectively. For prospective transition, the only disclosure requirements at transition are the nature of and reason for the change in accounting principle, the transition method, and a qualitative description of the financial statement line items affected by the change. For retrospective transition, the disclosure requirements at transition include the requirements for prospective transition and quantitative information about the effects of the accounting change. The adoption of this guidance did not have a material effect on the Corporation's financial position or results of operations. FASB ASU 2015-2, Amendments to the Consolidation Analysis . The amendments in ASU 2015-02 affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. These amendments modify the current accounting guidance to address limited partnerships and similar entities, certain investments funds, fees paid to a decision maker or service provider, and the impact of fee arrangements and related parties on the primary beneficiary determination. The amendments are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. A reporting entity may apply the amendments using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. A reporting entity also may apply the amendments retrospectively. The adoption of this guidance did not have a material effect on the Corporation's financial position or results of operations. FASB ASU 2014–12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period — a consensus of the FASB Emerging Issues Task Force. The amendments in this update clarify that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU does not contain any new disclosure requirements. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. In addition, entities will have the option of applying the guidance either prospectively (i.e., only to awards granted or modified on or after the effective date) or retrospectively. Retrospective application would only apply to awards with performance targets outstanding at or after the beginning of the first annual period presented (i.e., the earliest presented comparative period). The adoption of this guidance did not have a material effect on the Corporation's financial position or results of operations. Recently Issued Accounting Standards ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments will require a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The amendments will also limit the amount of the allowance for credit losses to the amount by which fair value is below amortized cost because the classification as available for sale is premised on an investment strategy that recognizes that the investment could be sold at fair value, if cash collection would result in the realization of an amount less than fair value. The amendments require changes to presentational matters, such as presenting credit losses as an allowance rather than a write-down. The amendments in ASU 2016-13 retain many of the disclosure amendments in Accounting Standards Update No. 2010-20, Receivables (Topic 310): Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses, updated to reflect the change from an incurred loss methodology to an expected credit loss methodology. In addition, disclosures of credit quality indicators in relation to the amortized cost of financing receivables are further disaggregated by year of origination (or vintage). The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years for public business entities. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years using a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., a modified-retrospective approach) or a prospective transition approach for debt securities for which an other-than-temporary impairment had been recognized before the effective date. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients. This update amends the new revenue recognition guidance on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition. The amendments in this update clarify that, for a contract to be considered completed at transition, substantially all of the revenue must have been recognized under legacy GAAP. This update also includes a practical expedient to ease transition for contracts that were modified prior to adoption of the revenue standard under both the full and modified retrospective transition approaches. The amendments clarify how an entity should evaluate the collectibility threshold and when an entity can recognize nonrefundable consideration received as revenue if an arrangement does not meet the standard’s contract criteria. They also clarify that the fair value of noncash consideration should be measured at contract inception when determining the transaction price. The amendments also allow an entity to make an accounting policy election to exclude from the transaction price certain types of taxes collected from a customer if it discloses that policy. The effective date and transition requirements for this update are the same as those of the new standard. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. ASU 2016-11, Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2006 EITF Meeting (SEC Update) . The amendments in this update rescinds the following SEC Staff Observer comments that relate to narrow revenue recognition issues from ASC 605, Revenue Recognition , and ASC 932, Extractive Activities — Oil and Ga s, upon an entity’s adoption of ASC 606: Revenue and Expense Recognition for Freight Services in Process, Accounting for Shipping and Handling Fees and Costs, Accounting for Consideration Given by a Vendor to a Customer (including a Reseller of the Vendor’s Products), and Accounting for Gas Balancing Arrangements . The ASU also rescinds the SEC Staff Announcement: Determining the Nature of a Host Contract Related to a Hybrid Instrument Issued in the Form of a Share under Topic 815 , issued as EITF Topic D-109 and codified in ASC 815-10-S99-3, as of the effective date of ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity . The effective date and transition requirements for this update are the same as those of the new standard. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing . This update amends the new revenue recognition guidance on accounting for licenses of intellectual property and identifying performance obligations. The amendments clarify how an entity should evaluate the nature of its promise in granting a license of intellectual property, which will determine whether it recognizes revenue over time or a point in time. The amendments also clarify when a promised good or service is separately identifiable, that is distinct within the context of the contract, and allow entities to disregard items that are immaterial in the context of a contract. The effective date and transition requirements for this update are the same as those of the new standard. For public business entities, the amendments in this update are effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted, but not before December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . The amendments in ASU 2016-09 simplify several aspects of accounting for employee share-based payments including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some areas of the simplification apply only to nonpublic entities. The new guidance will require all income tax effects of awards to be recognized as income tax expense or benefit in the income statement when the awards vest or are settled and additional paid in capital pools will be eliminated. The guidance requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. Companies will be required to account for forfeitures of share-based payments by recognizing forfeitures of awards as they occur or estimating the number of awards expected to be forfeited and adjusting the estimate when it is likely to change, as currently required, through an accounting policy election. The guidance will increase the amount an employer can withhold to cover income taxes on awards and still qualify for the exception to liability classification for shares used to satisfy the employer's income tax withholding obligation. The guidance requires an employer to classify the cash paid to a tax authority when shares are withheld to satisfy its statutory income tax withholding obligation as a financing activity on the statement of cash flows. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance, however all of the guidance must be adopted in the same period. If early adoption is elected in an interim period, any adjustments should be reflected as of the beginning of the annual period that includes that interim period. The adoption of this guidance is not expected to have a material effect on the Corporation’s financial position or results of operations. FASB ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). The amendments in ASU 2016-08 are intended to improve the operability and understandability of the implementation guidance by clarifying the following: how an entity should identify the unit of accounting for the principal versus agent evaluation; how the control principle applies to transactions, such as service arrangements; reframes the indicators to focus on a principal rather than an agent, removes the credit risk and commission indicators and clarifies the relationship between the control principle and the indicators; and revises the existing illustrative examples and adds new illustrative examples. For public business entities, the amendments in this update are effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted, but not before December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-07, Investments—Equity Method and Joint Ventures (Topic 323) , The amendments in this update eliminate the requirement that when an investment qualifies for use of the equity method due to an increase in level of ownership or influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by step basis as if the equity method had been in effect during all previous periods that the investment had been held. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures FASB ASU 2016-06, Derivatives and Hedging (Topic 815), Contingent Put and Call Options in Debt Instruments . The amendments in this update clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amendments in this update is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. An entity should apply the amendments in this update on a modified retrospective basis to existing debt instruments as of the beginning of the fiscal year for which the amendments are effective. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on The amendments in ASU 2016-05 clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be met. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-02, Leases (Topic 842), The amendments in ASU 2016-02 increase transparency and comparability by requiring a lessee to recognize assets and liabilities for operating and capital leases with lease terms of more than 12 months. Additional qualitative and quantitative requirements disclosures are required to provide additional information to better understand the amount, timing, and uncertainty of cash flows arising from leases. Lessor accounting will remain largely unchanged from current GAAP. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this update supersede the guidance to classify equity securities with readily determinable fair values into different categories (that is, trading or available-for-sale) and require equity securities (including other ownership interests, such as partnerships, unincorporated joint ventures, and limited liability companies) to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments also require enhanced disclosures about those investments. The amendments improve financial reporting by providing relevant information about an entity’s equity investments and reducing the number of items that are recognized in other comprehensive income. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The adoption of this guidance is not expected to have a material effect on the Corporation’s financial position or results of operations. FASB ASU 2014-09, Revenue from Contracts with Customers . In May 2014, the FASB issued new accounting guidance that revises the criteria for determining when to recognize revenue from contracts with customers and expands disclosure requirements. The amendments in this update supersede virtually all existing GAAP revenue recognition guidance, including most industry-specific revenue recognition guidance. The core principle requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 applies to contracts with customers to provide goods and services, with certain exclusions such as lease contracts, financing arrangements, and financial instruments. On July 9, 2015, the FASB decided to delay, by one year, the effective dates, permitting public entities to apply this guidance to annual reporting periods beginning after December 15, 2017, with early adoption permitted, but not before December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. There are many aspects of this new accounting guidance that are still being interpreted, and the FASB has recently issued updates to certain aspects of the guidance as noted above. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The following tables provide the amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities. Held-to-maturity securities are carried at amortized cost, which reflects historical cost, adjusted for amortization of premiums and accretion of discounts. Available-for-sale securities are carried at fair value with net unrealized gains or losses reported on an after tax basis as a component of OCI in shareholders' equity. June 30, 2016 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. treasury notes & bonds $ 4,996 $ 1 $ — $ 4,997 U.S. government agency debentures 2,500 28 — 2,528 U.S. states and political subdivisions 147,807 3,742 (2 ) 151,547 Residential mortgage-backed securities: U.S. government agencies 840,250 20,064 (67 ) 860,247 Commercial mortgage-backed securities: U.S. government agencies 198,069 4,095 (116 ) 202,048 Residential collateralized mortgage-backed securities: U.S. government agencies 2,325,707 30,400 (3,089 ) 2,353,018 Non-agency 3 — — 3 Commercial collateralized mortgage-backed securities: U.S. government agencies 392,205 6,528 (122 ) 398,611 Asset-backed securities: Collateralized loan obligations 297,939 354 (6,499 ) 291,794 Corporate debt securities 61,740 — (10,633 ) 51,107 Total debt securities 4,271,216 65,212 (20,528 ) 4,315,900 Equity securities Marketable equity securities 2,788 — — 2,788 Total equity securities 2,788 — — 2,788 Total securities available-for-sale $ 4,274,004 $ 65,212 $ (20,528 ) $ 4,318,688 Securities held-to-maturity Debt securities U.S. government agency debentures $ 25,000 $ 35 $ — $ 25,035 U.S. states and political subdivisions 540,425 15,713 (265 ) 555,873 Residential mortgage-backed securities: U.S. government agencies 467,462 12,367 — 479,829 Commercial mortgage-backed securities: U.S. government agencies 87,964 1,991 (42 ) 89,913 Residential collateralized mortgage-backed securities: U.S. government agencies 1,060,496 4,327 (6,670 ) 1,058,153 Commercial collateralized mortgage-backed securities: U.S. government agencies 246,509 3,559 (410 ) 249,658 Corporate debt securities 86,305 974 — 87,279 Total securities held-to-maturity $ 2,514,161 $ 38,966 $ (7,387 ) $ 2,545,740 December 31, 2015 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. treasury notes & bonds $ 5,001 $ — $ (1 ) $ 5,000 U.S. government agency debentures 2,500 — (2 ) 2,498 U.S. states and political subdivisions 188,829 4,170 (204 ) 192,795 Residential mortgage-backed securities: U.S. government agencies 900,358 11,325 (5,454 ) 906,229 Commercial mortgage-backed securities: U.S. government agencies 173,912 220 (2,023 ) 172,109 Residential collateralized mortgage-backed securities: U.S. government agencies 2,155,808 2,659 (30,147 ) 2,128,320 Non-agency 4 — — 4 Commercial collateralized mortgage-backed securities: U.S. government agencies 217,008 580 (1,269 ) 216,319 Asset-backed securities: Collateralized loan obligations 297,831 26 (8,446 ) 289,411 Corporate debt securities 61,710 — (9,481 ) 52,229 Total debt securities 4,002,961 18,980 (57,027 ) 3,964,914 Equity securities Marketable equity securities 2,821 — — 2,821 Total equity securities 2,821 — — 2,821 Total securities available-for-sale $ 4,005,782 $ 18,980 $ (57,027 ) $ 3,967,735 Securities held-to-maturity Debt securities U.S. government agency debentures 25,000 19 — 25,019 U.S. states and political subdivisions 571,738 22,180 (262 ) 593,656 Residential mortgage-backed securities: U.S. government agencies 507,908 4,767 (2,999 ) 509,676 Commercial mortgage-backed securities: U.S. government agencies 64,951 294 (574 ) 64,671 Residential collateralized mortgage-backed securities: U.S. government agencies 1,161,340 75 (35,881 ) 1,125,534 Commercial collateralized mortgage-backed securities: U.S. government agencies 255,359 676 (3,611 ) 252,424 Corporate debt securities 87,797 364 (22 ) 88,139 Total securities held-to-maturity $ 2,674,093 $ 28,375 $ (43,349 ) $ 2,659,119 June 30, 2015 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. treasury notes & bonds $ 5,004 $ 1 $ — $ 5,005 U.S. government agency debentures 2,500 10 — 2,510 U.S. states and political subdivisions 203,449 5,191 (1,023 ) 207,617 Residential mortgage-backed securities: U.S. government agencies 947,347 18,068 (4,563 ) 960,852 Commercial mortgage-backed securities: U.S. government agencies 171,842 643 (2,147 ) 170,338 Residential collateralized mortgage-backed securities: U.S. government agencies 1,968,918 4,779 (24,308 ) 1,949,389 Non-agency 5 — — 5 Commercial collateralized mortgage-backed securities: U.S. government agencies 227,889 1,254 (705 ) 228,438 Asset-backed securities: Collateralized loan obligations 259,743 801 (2,463 ) 258,081 Corporate debt securities 61,681 — (8,231 ) 53,450 Total debt securities 3,848,378 30,747 (43,440 ) 3,835,685 Equity Securities Marketable equity securities 2,824 — — 2,824 Non-marketable equity securities — — — — Total equity securities 2,824 — — 2,824 Total securities available-for-sale $ 3,851,202 $ 30,747 $ (43,440 ) $ 3,838,509 Securities held-to-maturity Debt securities U.S. government agency debentures 25,000 — (323 ) 24,677 U.S states and political subdivisions 529,441 8,104 (1,942 ) 535,603 Residential mortgage-backed securities: U.S. government agencies 555,273 6,919 (2,940 ) 559,252 Commercial mortgage-backed securities: U.S. government agencies 57,462 412 (219 ) 57,655 Residential collateralized mortgage-backed securities: U.S. government agencies 1,267,321 445 (35,025 ) 1,232,741 Commercial collateralized mortgage-backed securities: U.S. government agencies 263,741 1,004 (4,523 ) 260,222 Corporate debt securities 89,275 695 — 89,970 Total securities held-to-maturity $ 2,787,513 $ 17,579 $ (44,972 ) $ 2,760,120 The Corporation's U.S. states and political subdivisions portfolio is composed of general obligation bonds issued by a highly diversified number of states, cities, counties, and school districts. The amortized cost and fair value of the Corporation's portfolio of general obligation bonds are summarized by U.S. state in the tables below. As illustrated in the tables below, the aggregate fair value of the Corporation's general obligation bonds was greater than $10.0 million in 11 of the 37 U.S. states in which it holds investments. (Dollars in thousands) June 30, 2016 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Michigan 116 $ 1,404 $ 157,403 $ 162,897 Ohio 108 1,095 115,545 118,300 Wisconsin 54 651 34,046 35,166 Illinois 52 1,783 90,772 92,711 Texas 51 816 40,409 41,629 Pennsylvania 41 1,037 41,674 42,529 New Jersey 31 724 21,928 22,441 Washington 27 968 25,586 26,149 Minnesota 23 699 15,667 16,076 New York 18 575 10,044 10,346 Missouri 10 1,075 10,414 10,754 Other 105 768 79,275 80,688 Total general obligation bonds 636 $ 1,037 $ 642,763 $ 659,686 (Dollars in thousands) December 31, 2015 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Michigan 137 $ 1,381 $ 180,508 $ 189,259 Ohio 111 1,091 116,783 121,117 Illinois 55 1,870 99,524 102,867 Texas 58 807 45,818 46,805 Wisconsin 69 673 44,794 46,454 Pennsylvania 42 1,020 42,185 42,835 Washington 29 950 27,080 27,548 New Jersey 35 725 24,810 25,372 Minnesota 33 667 21,679 22,020 Missouri 15 1,078 15,878 16,174 New York 18 635 11,161 11,422 Other 110 759 81,815 83,477 Total general obligation bonds 712 $ 1,033 $ 712,035 $ 735,350 (Dollars in thousands) June 30, 2015 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Michigan 153 $ 1,018 $ 152,499 $ 155,712 Ohio 127 964 121,716 122,474 Illinois 60 1,784 105,581 107,033 Wisconsin 70 585 39,774 40,950 Texas 67 759 50,370 50,877 Pennsylvania 46 1,014 46,547 46,666 Washington 30 939 27,783 28,169 New Jersey 34 720 23,916 24,472 Minnesota 34 692 23,267 23,540 Missouri 15 1,084 15,981 16,265 New York 18 633 11,187 11,392 Other 119 639 75,670 76,040 Total general obligation bonds 773 $ 910 $ 694,291 $ 703,590 The Corporation's investment policy states that municipal securities purchased are to be investment grade and allows for a 20% maximum portfolio concentration in municipal securities with a combined individual state to total municipal outstanding equal to or less than 25% . A municipal security is investment grade if (1) the security has a low risk of default by the obligor and (2) the full and timely payment of principal and interest is expected over the anticipated life of the instrument. The fact that a municipal security is rated by one nationally recognized credit rating agency is indicative, but not sufficient evidence, that a municipal security is investment grade. In all cases, the Corporation considers and documents within a security pre-purchase analysis factors such as capacity to pay, market and economic data, and such other factors as are available and relevant to the security or issuer. Factors to be considered in the ongoing monitoring of municipal securities and in the pre-purchase analysis include soundness of budgetary position and sources of revenue, financial strength, and stability of tax or enterprise revenues. The Corporation also considers spreads to U.S. Treasuries on comparable bonds of similar credit quality, in addition to the above analysis, to assess whether municipal securities are investment grade. The Corporation performs a risk analysis for any security that is downgraded below investment grade to determine if the security should be retained or sold. This risk analysis includes, but is not limited to, discussions with the Corporation's credit department as well as third-party municipal credit analysts and review of the nationally recognized credit rating agency's analysis describing the downgrade. The Corporation's evaluation of its municipal bond portfolio at June 30, 2016 did not uncover any facts or circumstances resulting in significantly different credit ratings than those assigned by a nationally recognized credit rating agency. FRB and FHLB stock constitutes the majority of other investments on the Consolidated Balance Sheets. (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 FRB stock $ 56,303 $ 56,083 $ 55,853 FHLB stock 91,714 91,714 91,713 Other 350 375 401 Total other investments $ 148,367 $ 148,172 $ 147,967 FRB and FHLB stock is classified as a restricted investment, carried at cost and valued based on the ultimate recoverability of par value. Cash and stock dividends received on the stock are reported as interest income. There are no identified events or changes in circumstances that may have a significant adverse effect on these investments carried at cost. Securities with a carrying value of $3.2 billion , $2.9 billion , and $3.2 billion at June 30, 2016 , December 31, 2015 , and June 30, 2015 , respectively, were pledged to secure trust and public deposits and securities sold under agreements to repurchase and for other purposes required or permitted by law. Realized Gains and Losses The following table presents the gross realized gains and losses on the sales of those securities that have been included in earnings as a result of those sales. Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Realized gains $ 2,164 $ 672 $ 2,459 $ 1,064 Realized losses — (105 ) — (143 ) Net securities (losses)/gains $ 2,164 $ 567 $ 2,459 $ 921 Gross Unrealized Losses and Fair Value The following table presents the gross unrealized losses and fair value of securities by length of time that individual securities had been in a continuous loss position by major categories of available-for-sale and held-to-maturity securities. June 30, 2016 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Impaired Securities Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S. states and political subdivisions $ 1,567 $ (2 ) 3 $ — $ — — $ 1,567 $ (2 ) Residential mortgage-backed securities: U.S. government agencies 14,275 (67 ) 5 — — 0 14,275 (67 ) Commercial mortgage-backed securities: U.S. government agencies 23,570 (28 ) 1 12,627 (88 ) 1 36,197 (116 ) Residential collateralized mortgage-backed securities: U.S. government agencies 13,182 (271 ) 1 332,305 (2,818 ) 29 345,487 (3,089 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 24,401 (38 ) 4 19,071 (84 ) 1 43,472 (122 ) Asset-backed securities: Collateralized loan obligations 92,851 (1,795 ) 16 161,827 (4,704 ) 21 254,678 (6,499 ) Corporate debt securities 51,106 (10,633 ) 8 51,106 (10,633 ) Total securities available-for-sale $ 169,846 $ (2,201 ) 30 $ 576,936 $ (18,327 ) 60 $ 746,782 $ (20,528 ) Securities held-to-maturity Debt securities U.S. states and political subdivisions $ 3,525 $ (19 ) $ 7 $ 6,569 $ (246 ) $ 9 $ 10,094 $ (265 ) Residential mortgage-backed securities: U.S. government agencies — — 0 — — 0 — — Commercial mortgage-backed securities: U.S. government agencies 13,478 (42 ) 1 — — 0 13,478 (42 ) Residential collateralized mortgage-backed securities: U.S. government agencies — — 0 598,383 (6,670 ) 37 598,383 (6,670 ) Commercial collateralized mortgage-backed securities: U.S. government agencies — — 0 47,686 (410 ) 4 47,686 (410 ) Collateralized loan obligations: Corporate debt securities 5,002 — 1 — — 0 5,002 — Total securities held-to-maturity $ 22,005 $ (61 ) 9 $ 652,638 $ (7,326 ) 50 $ 674,643 $ (7,387 ) December 31, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Number Impaired Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S government agency debentures $ 2,498 $ (2 ) 1 $ — $ — 0 $ 2,498 $ (2 ) U.S. treasury notes and bonds 5,000 (1 ) 1 — — 0 5,000 (1 ) U.S. states and political subdivisions 10,178 (37 ) 20 5,899 (167 ) 9 16,077 (204 ) Residential mortgage-backed securities: U.S. government agencies 328,156 (3,026 ) 27 95,895 (2,428 ) 7 424,051 (5,454 ) Commercial mortgage-backed securities: U.S. government agencies 107,074 (1,447 ) 15 12,401 (576 ) 1 119,475 (2,023 ) Residential collateralized mortgage-backed securities: U.S. government agencies 1,130,779 (10,587 ) 78 597,403 (19,560 ) 49 1,728,182 (30,147 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 113,825 (893 ) 12 23,400 (376 ) 2 137,225 (1,269 ) Asset-backed securities: Collateralized loan obligations 151,810 (3,576 ) 26 126,422 (4,870 ) 15 278,232 (8,446 ) Corporate debt securities — — 0 52,229 (9,481 ) 8 52,229 (9,481 ) Total securities available-for-sale $ 1,849,320 $ (19,569 ) 180 $ 913,649 $ (37,458 ) 91 $ 2,762,969 $ (57,027 ) Securities held-to-maturity Debt securities U.S. states and political subdivisions $ 18,465 $ (224 ) 21 $ 4,174 $ (38 ) 6 $ 22,639 $ (262 ) Residential mortgage-backed securities: U.S. government agencies 85,738 (715 ) 6 97,880 (2,284 ) 6 183,618 (2,999 ) Commercial mortgage-backed securities: U.S. government agencies 34,833 (346 ) 6 9,269 (228 ) 1 44,102 (574 ) Residential collateralized mortgage-backed securities: U.S. government agencies 140,514 (1,225 ) 12 941,982 (34,656 ) 55 1,082,496 (35,881 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 71,812 (384 ) 7 117,992 (3,227 ) 11 189,804 (3,611 ) Corporate debt securities 19,243 (22 ) 6 — — 0 19,243 (22 ) Total securities held-to-maturity $ 370,605 $ (2,916 ) 58 $ 1,171,297 $ (40,433 ) 79 $ 1,541,902 $ (43,349 ) June 30, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S. states and political subdivisions $ 32,237 $ (587 ) 52 $ 5,642 $ (436 ) 9 $ 37,879 $ (1,023 ) Residential mortgage-backed securities: U.S. government agencies 196,219 (2,087 ) 15 103,498 (2,476 ) 8 299,717 (4,563 ) Commercial mortgage-backed securities: U.S. government agencies 96,573 (1,457 ) 14 17,335 (690 ) 2 113,908 (2,147 ) Residential collateralized mortgage-backed securities: U.S. government agencies 596,646 (4,398 ) 42 706,376 (19,910 ) 53 1,303,022 (24,308 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 46,771 (71 ) 5 61,120 (634 ) 7 107,891 (705 ) Asset-backed securities: Collateralized loan obligations 84,565 (1,204 ) 10 86,082 (1,259 ) 11 170,647 (2,463 ) Corporate debt securities 4,225 (765 ) 1 49,225 (7,466 ) 7 53,450 (8,231 ) Total securities available-for-sale $ 1,057,236 $ (10,569 ) 139 $ 1,029,278 $ (32,871 ) 97 $ 2,086,514 $ (43,440 ) Securities held-to-maturity Debt securities U.S. government agency debentures — — 0 24,677 (323 ) 1 24,677 (323 ) U.S. states and political subdivisions 98,867 (1,872 ) 112 4,430 (70 ) 6 103,297 (1,942 ) Residential mortgage-backed securities: U.S. government agencies 83,112 (483 ) 5 105,289 (2,457 ) 6 188,401 (2,940 ) Commercial mortgage-backed securities: U.S. government agencies 7,263 (41 ) 1 9,430 (178 ) 1 16,693 (219 ) Residential collateralized mortgage-backed securities: U.S. government agencies 111,360 (835 ) 8 1,042,351 (34,190 ) 56 1,153,711 (35,025 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 5,025 (2 ) 1 142,937 (4,521 ) 13 147,962 (4,523 ) Total securities held-to-maturity $ 305,627 $ (3,233 ) 127 $ 1,329,114 $ (41,739 ) 83 $ 1,634,741 $ (44,972 ) At least quarterly, the Corporation conducts a comprehensive security-level impairment assessment on all securities in an unrealized loss position to determine if OTTI exists. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. An OTTI loss must be recognized for a debt security in an unrealized loss position if the Corporation intends to sell the security or it is more likely than not that the Corporation will be required to sell the security before recovery of its amortized cost basis. In this situation, the amount of loss recognized in income is equal to the difference between the fair value and the amortized cost basis of the security. Even if the Corporation does not expect to sell the security, the Corporation must evaluate the expected cash flows to be received to determine if a credit loss has occurred. In the event of a credit loss, only the amount of impairment associated with the credit loss is recognized in income. The portion of the unrealized loss relating to other factors, such as liquidity conditions in the market or changes in market interest rates, is recorded in OCI. Equity securities are also evaluated to determine whether the unrealized loss is expected to be recoverable based on whether evidence exists to support a realizable value equal to or greater than the amortized cost basis. If it is probable that the Corporation will not recover the amortized cost basis, taking into consideration the estimated recovery period and its ability to hold the equity security until recovery, OTTI is recognized. The security-level assessment is performed on each security, regardless of the classification of the security as available-for-sale or held-to-maturity. The assessments are based on the nature of the securities, the financial condition of the issuer, the extent and duration of the securities, the extent and duration of the loss and whether Management intends to sell or it is more likely than not that it will be required to sell a security before recovery of its amortized cost basis, which may be maturity. For those securities which the assessment shows the Corporation will recover the entire cost basis, Management does not intend to sell these securities and it is not more likely than not that the Corporation will be required to sell them before the anticipated recovery of the amortized cost basis, the gross unrealized losses are recognized in OCI, net of tax. The investment securities portfolio was in a net unrealized gain position of $76.3 million at June 30, 2016 , compared to a net unrealized loss position of $53.0 million at December 31, 2015 and a net unrealized loss position of $40.1 million at June 30, 2015 . Gross unrealized losses were $27.9 million as of June 30, 2016 , compared to $100.4 million at December 31, 2015 , and $88.4 million at June 30, 2015 . As of June 30, 2016 , gross unrealized losses are concentrated within CLOs and corporate debt securities. Securities classified as corporate debt would include eight , single issuer, trust preferred securities with stated maturities. Such investments are only 1% of the fair value of the available-for-sale investment portfolio. None of the corporate issuers have deferred paying dividends on their issued trust preferred shares in which the Corporation is invested. The fair values of these investments have been impacted by the market conditions which have caused risk premiums to increase, resulting in the decline in the fair value of the trust preferred securities. Management believes the Corporation will fully recover the cost of these CLOs and corporate debt securities, and it does not intend to sell these securities and it is not more likely than not that it will be required to sell them before the anticipated recovery of the remaining amortized cost basis, which may be maturity. As a result, Management concluded that these securities were not other-than-temporarily impaired at June 30, 2016 and has recognized the total amount of the impairment in OCI, net of tax. The new Volcker Rule, as originally adopted, may affect the Corporation’s ability to hold CLOs. As of June 30, 2016 , the Corporation holds $291.8 million of CLOs with a gross unrealized loss position of $6.1 million . Management believes that its holdings of CLOs are not ownership interests in covered funds prohibited by the Volcker Rule regulations and, therefore, expects to be able to hold these investments until their stated maturities. Management seeks to maintain a CLO portfolio consistent with the requirements of the Volcker Rule, and new CLO investments are being made in accordance with the strategy. Contractual Maturity of Debt Securities The following table shows the remaining contractual maturities and contractual yields of debt securities held-to-maturity and available-for-sale as of June 30, 2016 . Estimated lives on MBSs may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) U.S. Treasury notes & bonds U.S. Government agency debentures U.S. States and political subdivisions Residential mortgage-backed securities - U.S. govt. agencies Commercial mortgage-backed securities - U.S. govt. agencies Residential collateralized mortgage obligations - U.S. govt. agencies Residential collateralized mortgage obligations - non-agency Commercial collateralized mortgage obligations - U.S. govt. agencies Asset backed securities - collateralized loan obligations Corporate debt securities Total Weighted Average Yield Securities Available-for-Sale Remaining maturity: One year or less $ 4,997 $ — $ 5,895 $ 65 $ — $ — $ — $ — $ — $ — $ 10,957 2.32 % Over one year through five years — 2,528 75,103 86,480 24,498 13,936 3 22,126 — — 224,674 3.54 % Over five years through ten years — — 51,441 47,116 123,441 10,705 — 103,837 218,344 — 554,884 2.92 % Over ten years — — 19,108 726,586 54,109 2,328,377 — 272,648 73,450 51,107 3,525,385 2.23 % Fair Value $ 4,997 $ 2,528 $ 151,547 $ 860,247 $ 202,048 $ 2,353,018 $ 3 $ 398,611 $ 291,794 $ 51,107 $ 4,315,900 2.39 % Amortized Cost $ 4,996 $ 2,500 $ 147,807 $ 840,250 $ 198,069 $ 2,325,707 $ 3 $ 392,205 $ 297,939 $ 61,740 $ 4,271,216 Weighted-Average Yield 0.31 % 1.25 % 5.00 % 2.98 % 2.13 % 2.01 % 2.98 % 2.18 % 3.08 % 1.37 % 2.39 % Weighted-Average Maturity (in years) 0.23 1.92 1.86 3.28 3.60 3.11 0.59 3.90 6.51 11.31 3.55 Securities Held-to-Maturity Remaining maturity: One year or less $ — $ — $ 64,872 $ — $ — $ — $ — $ — $ — $ 22,443 $ 87,315 2.36 % Over one year through five years — 25,035 157,172 — 36,522 — — 81,237 — 64,836 364,802 2.47 % Over five years through ten years — — 193,355 21,307 53,391 — — 40,365 — — 308,418 3.83 % Over ten years — — 140,474 458,522 — 1,058,153 — 128,056 — — 1,785,205 2.02 % Fair Value $ — $ 25,035 $ 555,873 $ 479,829 $ 89,913 $ 1,058,153 $ — $ 249,658 $ — $ 87,279 $ 2,545,740 2.31 % Amortized Cost $ — $ 25,000 $ 540,425 $ 467,462 $ 87,964 $ 1,060,496 $ — $ 246,509 $ — $ 86,305 $ 2,514,161 Weighted-Average Yield — % 1.43 % 4.21 % 2.13 % 2.14 % 1.59 % — % 1.77 % — % 2.30 % 2.31 % Weighted-Average Maturity (in years) — 0.08 4.50 3.29 2.81 3.25 — 3.56 — 1.52 3.45 |
Loans
Loans | 6 Months Ended |
Jun. 30, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Financing Receivables | Loans Loans outstanding as of June 30, 2016 , December 31, 2015 , and June 30, 2015 , net of unearned income, consisted of the following: (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 Originated loans: Commercial $ 9,132,366 $ 9,007,830 $ 8,633,332 Residential mortgage 728,534 689,045 653,143 Installment 3,353,084 2,990,349 2,720,059 Home equity 1,276,661 1,248,438 1,180,802 Credit cards 174,986 182,843 168,576 Total originated loans 14,665,631 14,118,505 13,355,912 Allowance for originated loan losses (105,175 ) (105,135 ) (101,682 ) Net originated loans $ 14,560,456 $ 14,013,370 $ 13,254,230 Acquired loans: Commercial $ 554,414 $ 677,149 $ 877,598 Residential mortgage 292,877 324,008 358,559 Installment 494,429 573,372 659,348 Home equity 146,916 168,542 200,179 Total acquired loans 1,488,636 1,743,071 2,095,684 Allowance for acquired loan losses (4,256 ) (3,877 ) (4,950 ) Net acquired loans $ 1,484,380 $ 1,739,194 $ 2,090,734 FDIC acquired loans: Commercial $ 115,793 $ 129,109 $ 145,821 Residential mortgage 33,370 35,568 38,029 Installment 1,808 2,077 2,299 Home equity 29,813 38,668 55,545 Loss share receivable 8,555 9,947 11,820 Total FDIC acquired loans 189,339 215,369 253,514 Allowance for FDIC acquired loan losses (40,218 ) (44,679 ) (41,627 ) Net FDIC acquired loans $ 149,121 $ 170,690 $ 211,887 Total loans: Commercial $ 9,802,573 $ 9,814,088 $ 9,656,751 Residential mortgage 1,054,781 1,048,621 1,049,731 Installment 3,849,321 3,565,798 3,381,706 Home equity 1,453,390 1,455,648 1,436,526 Credit cards 174,986 182,843 168,576 Loss share receivable 8,555 9,947 11,820 Total loans 16,343,606 16,076,945 15,705,110 Total allowance for loan losses (149,649 ) (153,691 ) (148,259 ) Total Net loans $ 16,193,957 $ 15,923,254 $ 15,556,851 The following describes the distinction between originated, acquired and FDIC acquired loan portfolios and certain significant accounting policies relevant to each of these portfolios. Originated Loans Loans originated for investment are stated at their principal amount outstanding adjusted for partial charge-offs, and net deferred loan fees and costs. Interest income on loans is accrued over the term of the loans primarily using the "simple-interest" method based on the principal balance outstanding. Interest is not accrued on loans where collectability is uncertain. Accrued interest is presented separately in the consolidated balance sheet, except for accrued interest on credit card loans, which is included in the outstanding loan balance. Loan origination fees and certain direct costs incurred to extend credit are deferred and amortized over the term of the loan or loan commitment period as an adjustment to the related loan yield. Net deferred loan origination fees and costs amounted to $3.3 million , $4.1 million , and $5.4 million at June 30, 2016 , December 31, 2015 , and June 30, 2015 , respectively. Acquired Loans Acquired loans are those purchased in the Citizens acquisition. These loans were recorded at estimated fair value at the Acquisition Date with no carryover of the related ALL. The acquired loans were segregated as of the Acquisition Date between those considered to be performing (acquired nonimpaired loans) and those with evidence of credit deterioration (acquired impaired loans). Acquired loans are considered impaired if there is evidence of credit deterioration and if it is probable, at acquisition, all contractually required payments will not be collected. Revolving loans, including lines of credit, are excluded from acquired impaired loan accounting. Total outstanding acquired impaired loans as of June 30, 2016 and 2015 were $340.9 million and $504.7 million , respectively. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged-off. Changes in the carrying amount and accretable yield for acquired impaired loans were as follows for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, Acquired Impaired Loans 2016 2015 2016 2015 (In thousands) Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Balance at beginning of period $ 85,444 $ 257,152 $ 118,756 $ 388,313 $ 89,823 $ 284,709 $ 119,450 $ 423,209 Accretion (7,921 ) 7,921 (10,285 ) 10,285 (16,823 ) 16,823 (21,503 ) 21,503 Net reclassifications from nonaccretable to accretable 4,883 — 8,217 — 12,636 — 21,212 — Payments received, net — (25,878 ) — (42,434 ) — (62,337 ) — (88,548 ) Disposals (3,042 ) — (4,657 ) — (6,272 ) — (7,128 ) — Balance at end of period $ 79,364 $ 239,195 $ 112,031 $ 356,164 $ 79,364 $ 239,195 $ 112,031 $ 356,164 Cash flows expected to be collected on acquired impaired loans are estimated quarterly by incorporating several key assumptions similar to the initial estimate of fair value. These key assumptions include probability of default, and the amount of actual prepayments after the acquisition date. Prepayments affect the estimated life of the loans and could change the amount of interest income, and possibly principal expected to be collected. In reforecasting future estimated cash flows, credit loss expectations are adjusted as necessary. Improved cash flow expectations for loans or pools that were impaired in prior periods are recorded first as a reversal of previously recorded impairment and then as an increase in prospective yield when all previously recorded impairment has been recaptured. Decreases in expected cash flows are recognized as an impairment through a provision for loan loss and an increase to the allowance for acquired impaired loans. During the quarter ended June 30, 2016 , there was an overall improvement in cash flow expectations, which resulted in the net reclassification of $4.9 million from the nonaccretable difference to accretable yield. This reclassification was $8.2 million for the three months ended June 30, 2015 . The reclassification from the nonaccretable difference to the accretable yield results in prospective yield adjustments on the loan pools. FDIC Acquired Loans and Related Loss Share Receivable FDIC acquired loans include loans purchased in the 2010 FDIC-assisted acquisitions of George Washington and Midwest. George Washington and Midwest non-single family loss share agreements with the FDIC expired at March 31, 2015 and June 30, 2015 , respectively, resulting in $115.8 million of loans no longer being covered as of June 30, 2016 . As of June 30, 2016 , $65.0 million remained covered by single family loss share agreements. Changes in the loss share receivable for the three and six months ended June 30, 2016 and 2015 were as follows: Loss Share Receivable Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of period $ 9,436 $ 20,005 $ 9,947 $ 22,033 Amortization (358 ) (1,185 ) (706 ) (3,372 ) Increase/(decrease) due to impairment (recapture) on FDIC acquired loans (12 ) 1,819 257 6,046 FDIC reimbursement (194 ) (8,713 ) (386 ) (12,726 ) FDIC acquired loans paid in full (317 ) (106 ) (557 ) (161 ) Balance at end of the period (1) $ 8,555 $ 11,820 $ 8,555 $ 11,820 (1) As of June 30, 2016 , the loss share receivable of $8.6 million was related to single family covered loans. Total outstanding FDIC acquired impaired loans were $301.2 million and $351.1 million as of June 30, 2016 and 2015 , respectively. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged-off. Changes in the carrying amount and accretable yield for FDIC acquired impaired loans were as follows for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, FDIC Acquired Impaired Loans 2016 2015 2016 2015 (In thousands) Accretable Yield Carrying Loans Accretable Yield Carrying Loans Accretable Yield Carrying Loans Accretable Yield Carrying Loans Balance at beginning of period $ 22,126 $ 122,134 $ 29,867 $ 199,225 $ 22,908 $ 130,648 $ 37,511 $ 232,452 Accretion (2,231 ) 2,231 (4,100 ) 4,100 (4,528 ) 4,528 (9,667 ) 9,667 Net reclassifications between non-accretable and accretable 699 — 2,136 — 2,372 — 2,080 — Payments received, net — (5,604 ) — (45,517 ) — (16,415 ) — (84,311 ) (Disposals)/Additions (371 ) — (1,753 ) — (529 ) — (3,774 ) — Balance at end of period $ 20,223 $ 118,761 $ 26,150 $ 157,808 $ 20,223 $ 118,761 $ 26,150 $ 157,808 The cash flows expected to be collected on FDIC acquired impaired loans are estimated quarterly in a similar manner as described above for acquired impaired loans. During the quarter ended June 30, 2016 , the re-estimation process resulted in a net reclassification of $0.7 million from the nonaccretable difference to accretable yield. This reclassification was $2.1 million for the three months ended June 30, 2015 . The reclassification from the nonaccretable difference to the accretable yield results in prospective yield adjustments on the loan pools. Credit Quality Disclosures The credit quality of the Corporation's loan portfolios is assessed as a function of net credit losses, levels of nonperforming assets and delinquencies, and credit quality ratings as defined by the Corporation. These credit quality ratings are an important part of the Corporation's overall credit risk management process and evaluation of the allowance for credit losses. Generally, loans, except for certain commercial, credit card and mortgage loans, and leases on which payments are past due for 90 days are placed on nonaccrual status, unless those loans are in the process of collection and, in Management's opinion, are fully secured. Credit card loans on which payments are past due for 120 days are placed on nonaccrual status. Acquired and FDIC acquired impaired loans are considered to be accruing and performing even though collection of contractual payments may be in doubt because income continues to be accreted on the loan pool as long as expected cash flows are reasonably estimable. When a loan is placed on nonaccrual status, interest deemed uncollectible which had been accrued in prior years is charged against the ALL and interest deemed uncollectible accrued in the current year is reversed against interest income. Interest on mortgage loans is accrued until Management deems it uncollectible based upon the specific identification method. Payments subsequently received on nonaccrual loans are generally applied to principal. A loan is returned to accrual status when principal and interest are no longer past due and collectability is probable. This generally requires timely principal and interest payments for a minimum of six consecutive payment cycles. Loans are generally written off when deemed uncollectible or when they reach a predetermined number of days past due depending upon loan product, terms and other factors. The following tables provide a summary of loans by portfolio type, including the delinquency status of those loans that continue to accrue interest and those loans that are nonaccrual: As of June 30, 2016 (In thousands) ≥ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 1,677 $ 1,465 $ 10,864 $ 14,006 $ 5,868,988 $ 5,882,994 $ 1,062 $ 43,887 CRE 4,506 142 12,176 16,824 2,018,674 2,035,498 166 13,860 Construction — 709 4,760 5,469 699,871 705,340 — 9,195 Leases — — 476 476 508,058 508,534 476 — Consumer Installment 15,662 3,496 4,005 23,163 3,329,921 3,353,084 3,453 3,506 Home Equity Lines 1,245 713 2,140 4,098 1,272,563 1,276,661 623 2,390 Credit Cards 811 504 860 2,175 172,811 174,986 789 758 Residential Mortgages 9,564 2,017 4,233 15,814 712,720 728,534 1,439 10,701 Total $ 33,465 $ 9,046 $ 39,514 $ 82,025 $ 14,583,606 $ 14,665,631 $ 8,008 $ 84,297 Acquired Loans ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 340 $ 121 $ 1,168 $ 1,629 $ 179,874 $ 181,503 $ — $ 865 CRE 602 896 9,491 10,989 357,811 368,800 — 4,482 Construction — — 413 413 3,698 4,111 — — Consumer Installment 3,623 767 486 4,876 489,553 494,429 224 615 Home Equity Lines 960 503 712 2,175 144,741 146,916 587 235 Residential Mortgages 299 943 3,867 5,109 287,768 292,877 646 924 Total $ 5,824 $ 3,230 $ 16,137 $ 25,191 $ 1,463,445 $ 1,488,636 $ 1,457 $ 7,121 FDIC Acquired Loans (2) ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ — $ — $ 1,326 $ 1,326 $ 29,948 $ 31,274 n/a n/a CRE — 804 24,931 25,735 54,153 79,888 n/a n/a Construction — — 3,512 3,512 1,119 4,631 n/a n/a Consumer Installment — — — — 1,808 1,808 n/a n/a Home Equity Lines 2,097 354 938 3,389 26,424 29,813 n/a n/a Residential Mortgages 4,371 204 1,800 6,375 26,995 33,370 n/a n/a Total $ 6,468 $ 1,362 $ 32,507 $ 40,337 $ 140,447 $ 180,784 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.3 million of loans guaranteed by the U.S. government as of June 30, 2016 . (2) Excludes loss share receivable of $8.6 million as of June 30, 2016 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at June 30, 2016 as the loans are considered to be performing under ASC 310-30. As a result, interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and FDIC acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. As of December 31, 2015 (In thousands) ≥ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 4,684 $ 115 $ 8,824 $ 13,623 $ 5,779,785 $ 5,793,408 $ 236 $ 23,123 CRE 12,880 — 2,260 15,140 2,062,204 2,077,344 153 4,503 Construction 1,360 — 486 1,846 643,491 645,337 — 482 Leases — — — — 491,741 491,741 — — Consumer Installment 17,934 4,828 3,920 26,682 2,963,667 2,990,349 3,519 2,178 Home Equity Lines 1,952 913 1,478 4,343 1,244,095 1,248,438 513 1,674 Credit Cards 1,449 494 632 2,575 180,268 182,843 725 545 Residential Mortgages 11,099 1,519 6,693 19,311 669,734 689,045 2,876 11,600 Total $ 51,358 $ 7,869 $ 24,293 $ 83,520 $ 14,034,985 $ 14,118,505 $ 8,022 $ 44,105 Acquired Loans ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 311 $ 31 $ 3,336 $ 3,678 $ 236,467 $ 240,145 $ 13 $ 782 CRE 3,192 1,681 9,657 14,530 416,361 430,891 522 4,948 Construction — — 733 733 5,380 6,113 — — Consumer Installment 5,059 1,329 974 7,362 566,010 573,372 236 835 Home Equity Lines 1,365 660 1,260 3,285 165,257 168,542 644 514 Residential Mortgages 8,760 567 6,792 16,119 307,889 324,008 1,681 1,166 Total $ 18,687 $ 4,268 $ 22,752 $ 45,707 $ 1,697,364 $ 1,743,071 $ 3,096 $ 8,245 FDIC Acquired Loans (2) ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ — $ — $ 1,054 $ 1,054 $ 34,412 $ 35,466 n/a n/a CRE 296 354 28,501 29,151 58,623 87,774 n/a n/a Construction — — 3,761 3,761 2,108 5,869 n/a n/a Consumer Installment — — — — 2,077 2,077 n/a n/a Home Equity Lines 2,230 52 1,917 4,199 34,469 38,668 n/a n/a Residential Mortgages 4,616 172 2,655 7,443 28,125 35,568 n/a n/a Total $ 7,142 $ 578 $ 37,888 $ 45,608 $ 159,814 $ 205,422 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.3 million of loans guaranteed by the U.S. government as of December 31, 2015 . (2) Excludes loss share receivable of $9.9 million as of December 31, 2015 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at December 31, 2015 as the loans are considered to be performing under ASC 310-30. As a result, interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and FDIC acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. As of June 30, 2015 (In thousands) ≥ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 5,837 $ 1,949 $ 3,780 $ 11,566 $ 5,459,797 $ 5,471,363 $ — $ 29,241 CRE 3,758 119 2,780 6,657 2,131,715 2,138,372 418 7,486 Construction 483 — — 483 586,412 586,895 — — Leases 17,862 — — 17,862 418,840 436,702 — 1,162 Consumer Installment 11,526 3,010 4,191 18,727 2,701,332 2,720,059 3,386 2,903 Home Equity Lines 2,268 720 1,032 4,020 1,176,782 1,180,802 249 1,591 Credit Cards 679 338 558 1,575 167,001 168,576 337 459 Residential Mortgages 9,792 1,935 7,595 19,322 633,821 653,143 3,619 12,300 Total $ 52,205 $ 8,071 $ 19,936 $ 80,212 $ 13,275,700 $ 13,355,912 $ 8,009 $ 55,142 Acquired Loans ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 33 $ 99 $ 3,279 $ 3,411 $ 334,012 $ 337,423 $ — $ 661 CRE 3,353 3,115 17,473 23,941 510,004 533,945 — 5,545 Construction — — 694 694 5,536 6,230 — — Consumer Installment 3,999 1,029 1,083 6,111 653,237 659,348 475 671 Home Equity Lines 2,349 785 1,353 4,487 195,692 200,179 762 246 Residential Mortgages 186 1,173 4,902 6,261 352,298 358,559 411 929 Total $ 9,920 $ 6,201 $ 28,784 $ 44,905 $ 2,050,779 $ 2,095,684 $ 1,648 $ 8,052 FDIC Acquired Loans (2) ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ — $ — $ 2,916 $ 2,916 $ 35,221 $ 38,137 n/a n/a CRE 664 1,959 32,076 34,699 67,110 101,809 n/a n/a Construction — — 3,701 3,701 2,174 5,875 n/a n/a Consumer Installment — — — — 2,299 2,299 n/a n/a Home Equity Lines 1,256 246 3,454 4,956 50,589 55,545 n/a n/a Residential Mortgages 5,391 319 2,961 8,671 29,358 38,029 n/a n/a Total $ 7,311 $ 2,524 $ 45,108 $ 54,943 $ 186,751 $ 241,694 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.7 million of loans guaranteed by the U.S. government as of June 30, 2015 . (2) Excludes loss share receivable of $11.8 million as of June 30, 2015 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at June 30, 2015 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and FDIC acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. Individual commercial loans are assigned credit risk grades based on an internal assessment of conditions that affect a borrower’s ability to meet its contractual obligation under the loan agreement. The assessment process includes reviewing a borrower’s current financial information, historical payment experience, credit documentation, public information, and other information specific to each borrower. Commercial loans are reviewed on an annual, quarterly or rotational basis or as Management becomes aware of information about a borrower’s ability to fulfill its obligation. For consumer loans, Management evaluates credit quality based on the aging status of the loan as well as by payment activity, which is presented in the above tables. The credit-risk grading process for commercial loans is summarized as follows: “Pass” Loans (Grades 1, 2, 3, 4) are not considered a greater than normal credit risk. Generally, the borrowers have the apparent ability to satisfy obligations to the bank, and the Corporation anticipates insignificant uncollectible amounts based on its individual loan review. “Special Mention” Loans (Grade 5) are commercial loans that have identified potential weaknesses that deserve Management’s close attention. If left uncorrected, these potential weaknesses may result in noticeable deterioration of the repayment prospects for the asset or in the institution’s credit position. “Substandard” Loans (Grade 6) are inadequately protected by the current financial condition and paying capacity of the obligor or by any collateral pledged. Loans so classified have a well-defined weakness or weaknesses that may jeopardize the liquidation of the debt pursuant to the contractual principal and interest terms. Such loans are characterized by the distinct possibility that the Corporation may sustain some loss if the deficiencies are not corrected. “Doubtful” Loans (Grade 7) have all the weaknesses inherent in those classified as substandard, with the added characteristic that existing facts, conditions, and values make collection or liquidation in full highly improbable. Such loans are currently managed separately to determine the highest recovery alternatives. The following tables provide a summary of commercial loans by portfolio type and the Corporation's internal credit quality rating: As of June 30, 2016 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 75,818 $ 742 $ — $ 12,001 $ 88,561 Grade 2 416,677 806 — 49,953 467,436 Grade 3 1,267,423 294,396 46,114 87,346 1,695,279 Grade 4 3,886,039 1,697,194 609,659 325,346 6,518,238 Grade 5 73,989 13,929 31,744 22,830 142,492 Grade 6 154,707 28,431 17,823 11,058 212,019 Grade 7 8,341 — — — 8,341 Total $ 5,882,994 $ 2,035,498 $ 705,340 $ 508,534 $ 9,132,366 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ — $ — $ — $ — $ — Grade 2 — — — — — Grade 3 5,994 24,244 — — 30,238 Grade 4 140,944 303,228 3,698 — 447,870 Grade 5 27,053 11,607 — — 38,660 Grade 6 7,512 29,721 413 — 37,646 Grade 7 — — — — — Total $ 181,503 $ 368,800 $ 4,111 $ — $ 554,414 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ — $ — $ — $ — $ — Grade 2 — — — — — Grade 3 — 7,040 — — 7,040 Grade 4 27,834 45,520 — — 73,354 Grade 5 — — — — — Grade 6 3,440 27,328 4,631 — 35,399 Grade 7 — — — — — Total $ 31,274 $ 79,888 $ 4,631 $ — $ 115,793 As of December 31, 2015 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 60,440 $ 773 $ — $ 12,732 $ 73,945 Grade 2 353,581 831 — 69,258 423,670 Grade 3 1,371,850 319,987 59,182 49,956 1,800,975 Grade 4 3,756,333 1,697,261 569,098 344,763 6,367,455 Grade 5 124,140 18,388 7,193 7,858 157,579 Grade 6 124,483 40,105 9,864 7,174 181,626 Grade 7 2,581 (1 ) — — 2,580 Total $ 5,793,408 $ 2,077,344 $ 645,337 $ 491,741 $ 9,007,830 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 346 $ — $ — $ — $ 346 Grade 2 — — — — — Grade 3 15,548 27,387 — — 42,935 Grade 4 200,736 361,518 5,380 — 567,634 Grade 5 11,735 12,546 — — 24,281 Grade 6 11,780 29,440 733 — 41,953 Grade 7 — — — — — Total $ 240,145 $ 430,891 $ 6,113 $ — $ 677,149 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ — $ — $ — $ — $ — Grade 2 1,072 — — — 1,072 Grade 3 — 7,004 — — 7,004 Grade 4 31,637 49,917 819 — 82,373 Grade 5 295 — — — 295 Grade 6 2,462 30,853 5,050 — 38,365 Grade 7 — — — — — Total $ 35,466 $ 87,774 $ 5,869 $ — $ 129,109 As of June 30, 2015 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 65,856 $ 807 $ — $ 14,688 $ 81,351 Grade 2 206,384 1,166 — 29,564 237,114 Grade 3 1,417,295 367,457 55,889 65,664 1,906,305 Grade 4 3,567,387 1,715,998 529,517 321,268 6,134,170 Grade 5 98,137 25,466 360 2,956 126,919 Grade 6 112,661 27,478 1,129 2,562 143,830 Grade 7 3,643 — — — 3,643 Total $ 5,471,363 $ 2,138,372 $ 586,895 $ 436,702 $ 8,633,332 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 1,061 $ — $ — $ — $ 1,061 Grade 2 — — — — — Grade 3 17,338 27,190 — — 44,528 Grade 4 289,027 453,830 5,536 — 748,393 Grade 5 13,283 16,815 — — 30,098 Grade 6 16,714 36,110 694 — 53,518 Grade 7 — — — — — Total $ 337,423 $ 533,945 $ 6,230 $ — $ 877,598 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ — $ — $ — $ — $ — Grade 2 1,129 — — — 1,129 Grade 3 — — — — — Grade 4 33,992 65,906 817 — 100,715 Grade 5 — 625 — — 625 Grade 6 3,016 35,278 5,058 — 43,352 Grade 7 — — — — — Total $ 38,137 $ 101,809 $ 5,875 $ — $ 145,821 |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Allowance for Loan Losses | Allowance for Loan Losses The Corporation's Credit Policy Division manages credit risk by establishing common credit policies for its subsidiary bank, participating in approval of its loans, conducting reviews of loan portfolios, providing centralized consumer underwriting, collections and loan operation services, and overseeing loan workouts. The Corporation's objective is to minimize losses from its commercial lending activities and to maintain consumer losses at acceptable levels that are stable and consistent with growth and profitability objectives. The ALL is Management's estimate of the amount of probable credit losses inherent in a loan portfolio at the balance sheet date. The following describes the distinctions in methodology used to estimate the ALL of originated, acquired and FDIC acquired loan portfolios as well as certain significant accounting policies relevant to each category. Allowance for Originated Loan Losses Management estimates credit losses based on originated individual loans determined to be impaired and on all other loans grouped based on similar risk characteristics. Management also considers internal and external factors such as economic conditions, loan management practices, portfolio monitoring, and other risks, collectively known as qualitative factors, or Q-factors, to estimate credit losses in the loan portfolio. Q-factors are used to reflect changes in the portfolio's collectability characteristics not captured by historical loss data. The Corporation's historical loss component is the most significant of the ALL components and is based on historical loss experience by credit-risk grade (for commercial loan pools) and payment status (for mortgage and consumer loan pools). The historical loss experience component of the ALL represents the results of migration analysis of historical net charge-offs for portfolios of loans (including groups of commercial loans within each credit-risk grade and groups of consumer loans by payment status). For measuring loss exposure in a pool of loans, the historical net charge-off or migration experience is utilized to estimate expected losses to be realized from the pool of loans. If a nonperforming, substandard loan has an outstanding balance of $0.3 million or greater or if a doubtful loan has an outstanding balance of $0.1 million or greater, as determined by the Corporation's credit-risk grading process, further analysis is performed to determine the probable loss content and assign a specific allowance to the loan, if deemed appropriate. The ALL relating to originated loans that have become impaired is based on either expected cash flows discounted using the original effective interest rate, the observable market price, or the fair value of the collateral for certain collateral dependent loans. The following tables show activity in the originated ALL, by portfolio segment for the three and six months ended June 30, 2016 and 2015 , as well as the corresponding recorded investment in originated loans at the end of the period: As of June 30, 2016 (In thousands) Originated Loans C&I CRE Construction Leases Installment Home Equity Lines Credit Cards Residential Mortgages Total Three Months Ended Allowance for originated loan losses, beginning balance $ 44,489 $ 7,244 $ 1,537 $ 1,499 $ 14,664 $ 19,528 $ 8,591 $ 5,363 $ 102,915 Charge-offs (2,593 ) (111 ) — — (5,418 ) (937 ) (1,031 ) (708 ) (10,798 ) Recoveries 1,335 207 2 29 3,573 499 421 45 6,111 Provision for loan losses 1,859 (1,468 ) 1,028 822 3,960 698 (831 ) 879 6,947 Allowance for originated loan losses, ending balance $ 45,090 $ 5,872 $ 2,567 $ 2,350 $ 16,779 $ 19,788 $ 7,150 $ 5,579 $ 105,175 Six Months Ended Allowance for originated loan losses, beginning balance $ 44,760 $ 9,631 $ 1,594 $ 1,313 $ 14,183 $ 20,094 $ 8,831 $ 4,729 $ 105,135 Charge-offs (5,803 ) (220 ) — — (12,186 ) (1,964 ) (2,484 ) (1,158 ) (23,815 ) Recoveries 1,867 232 4 49 7,379 1,123 778 65 11,497 Provision for loan losses 4,266 (3,771 ) 969 988 7,403 535 25 1,942 12,357 Allowance for originated loan losses, ending balance $ 45,090 $ 5,872 $ 2,567 $ 2,350 $ 16,779 $ 19,788 $ 7,150 $ 5,579 $ 105,175 Ending allowance for originated loan losses balance attributable to loans: Individually evaluated for impairment $ 10,447 $ 507 $ — $ — $ 1,149 $ 169 $ 201 $ 981 $ 13,454 Collectively evaluated for impairment 34,643 5,365 2,567 2,350 15,630 19,619 6,949 4,598 91,721 Total ending allowance for originated loan losses balance $ 45,090 $ 5,872 $ 2,567 $ 2,350 $ 16,779 $ 19,788 $ 7,150 $ 5,579 $ 105,175 Originated loans: Originated loans individually evaluated for impairment $ 62,707 $ 29,539 $ 512 $ — $ 42,272 $ 7,874 $ 679 $ 23,385 $ 166,968 Originated loans collectively evaluated for impairment 5,820,287 2,005,959 704,828 508,534 3,310,812 1,268,787 174,307 705,149 14,498,663 Total ending originated loan balance $ 5,882,994 $ 2,035,498 $ 705,340 $ 508,534 $ 3,353,084 $ 1,276,661 $ 174,986 $ 728,534 $ 14,665,631 As of June 30, 2015 (In thousands) Originated Loans C&I CRE Construction Leases Installment Home Equity Lines Credit Cards Residential Mortgages Total Three Months Ended Allowance for originated loan losses, beginning balance $ 39,838 $ 8,813 $ 1,752 $ 629 $ 13,358 $ 19,433 $ 7,801 $ 5,921 $ 97,545 Charge-offs (3,247 ) (408 ) — — (5,090 ) (971 ) (1,209 ) (373 ) (11,298 ) Recoveries 453 1 39 3 2,844 839 358 89 4,626 Provision for loan losses 5,832 94 (251 ) (13 ) 3,798 738 868 (257 ) 10,809 Allowance for originated loan losses, ending balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Six Months Ended Allowance for originated loan losses, beginning balance $ 37,375 $ 10,492 $ 2,202 $ 674 $ 12,918 $ 19,324 $ 7,966 $ 4,745 $ 95,696 Charge-offs (3,757 ) (623 ) — — (10,145 ) (1,882 ) (2,661 ) (797 ) (19,865 ) Recoveries 794 1 40 7 5,864 1,452 724 124 9,006 Provision for loan losses 8,464 (1,370 ) (702 ) (62 ) 6,273 1,145 1,789 1,308 16,845 Allowance for originated loan losses, ending balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Ending allowance for originated loan losses balance attributable to loans: Individually evaluated for impairment $ 9,117 $ 151 $ — $ — $ 1,001 $ 217 $ 250 $ 890 $ 11,626 Collectively evaluated for impairment 33,759 8,349 1,540 619 13,909 19,822 7,568 4,490 90,056 Total ending allowance for originated loan losses balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Originated loans: Originated loans individually evaluated for impairment $ 45,969 $ 12,072 $ — $ 1,162 $ 31,927 $ 7,421 $ 787 $ 24,697 $ 124,035 Originated loans collectively evaluated for impairment 5,425,394 2,126,300 586,895 435,540 2,688,132 1,173,381 167,789 628,446 13,231,877 Total ending originated loan balance $ 5,471,363 $ 2,138,372 $ 586,895 $ 436,702 $ 2,720,059 $ 1,180,802 $ 168,576 $ 653,143 $ 13,355,912 The following table presents the originated ALL and the recorded investment as of December 31, 2015 : As of December 31, 2015 (In thousands) Originated Loans C&I CRE Construction Leases Installment Home Equity Lines Credit Cards Residential Mortgages Total Ending allowance for originated loan losses balance attributable to loans: Individually evaluated for impairment $ 11,837 $ 128 $ — $ — $ 1,009 $ 188 $ 243 $ 944 $ 14,349 Collectively evaluated for impairment 32,923 9,503 1,594 1,313 13,174 19,906 8,588 3,785 90,786 Total ending allowance for originated loan losses balance $ 44,760 $ 9,631 $ 1,594 $ 1,313 $ 14,183 $ 20,094 $ 8,831 $ 4,729 $ 105,135 Originated loans: Loans individually evaluated for impairment $ 43,818 $ 16,614 $ — $ — $ 36,904 $ 7,080 $ 717 $ 23,905 $ 129,038 Loans collectively evaluated for impairment 5,749,590 2,060,730 645,337 491,741 2,953,445 1,241,358 182,126 665,140 13,989,467 Total ending originated loan balance $ 5,793,408 $ 2,077,344 $ 645,337 $ 491,741 $ 2,990,349 $ 1,248,438 $ 182,843 $ 689,045 $ 14,118,505 Allowance for Acquired Loan Losses The Citizens' loans were recorded at their fair value as of the Acquisition Date and the prior ALL was eliminated. An ALL for acquired nonimpaired loans is estimated using a methodology similar to that used for originated loans. The allowance determined for each acquired nonimpaired loan is compared to the remaining fair value adjustment for that loan. If the computed allowance is greater, the excess is added to the allowance through a provision for loan losses. If the computed allowance is less, no additional allowance is recognized. As of June 30, 2016 , the computed ALL was less than the remaining fair value discount; therefore, no ALL for acquired nonimpaired loans was recorded. Charge-offs and actual losses on an acquired nonimpaired loan first reduce any remaining fair value discount for that loan. Once a loan's discount is depleted, charge-offs and actual losses are applied against the acquired ALL. During the three and six months ended June 30, 2016 , a net recapture to the provision for loan losses, of $0.2 million was recorded, compared to a provision of loan losses equal to net charge-offs of $1.6 million recorded for the three months ended June 30, 2015 . Charge-offs on acquired nonimpaired loans were mainly related to consumer loans that were written off in accordance with the Corporation's credit policies based on a predetermined number of days past due. The ALL for acquired impaired loans is determined by comparing the present value of the cash flows expected to be collected to the carrying amount for a given pool of loans. Management reforecasts the estimated cash flows expected to be collected on acquired impaired loans on a quarterly basis. If the present value of expected cash flows for a pool is less than its carrying value, impairment is recognized by an increase in the ALL and a charge to the provision for loan losses. If the present value of expected cash flows for a pool is greater than its carrying value, any previously established ALL is reversed and any remaining difference increases the accretable yield which will be taken into interest income over the remaining life of the loan pool. See Note 3 ( Loans ) for further information on changes in accretable yield. The following table presents activity in the allowance for acquired impaired loan losses for the three and six months ended June 30, 2016 and 2015 : Allowance for Acquired Impaired Loan Losses Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of the period $ 4,423 $ 7,493 $ 3,877 $ 7,457 Charge-offs (19 ) — (19 ) — Recoveries — — — Provision/(recapture) for loan losses (148 ) (2,543 ) 398 (2,507 ) Balance at end of the period $ 4,256 $ 4,950 $ 4,256 $ 4,950 Allowance for FDIC Acquired Loan Losses The ALL on FDIC acquired nonimpaired loans is estimated similar to acquired loans as described above except any increase to the ALL and provision for loan losses is partially offset by an increase in the loss share receivable for the portion of the losses recoverable under the loss share agreements with the FDIC. As of June 30, 2016 , the computed ALL was less than the remaining fair value discount; therefore, no ALL for FDIC acquired nonimpaired loans was recorded. The following table presents activity in the allowance for FDIC acquired impaired loan losses for the three and six months ended June 30, 2016 and 2015 : Allowance for FDIC acquired Impaired Loan Losses Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of the period $ 44,599 $ 41,514 $ 44,679 $ 40,496 Net provision/(recapture) of loan losses before benefit attributable to FDIC loss share agreements (227 ) 928 1,310 5,153 Net (benefit)/recapture attributable to FDIC loss share agreements 12 (1,819 ) (257 ) (6,046 ) Net provision/(recapture) for loan losses (215 ) (891 ) 1,053 (893 ) Increase/(decrease) in loss share receivable (12 ) 1,819 257 6,046 Loans charged-off (4,154 ) (815 ) (5,771 ) (4,022 ) Balance at end of the period $ 40,218 $ 41,627 $ 40,218 $ 41,627 An acquired or FDIC acquired loan may be resolved either through receipt of payment (in full or in part) from the borrower, the sale of the loan to a third party, or foreclosure of the collateral. In the period of resolution of a nonimpaired loan, any remaining unamortized fair value adjustment is recognized as interest income. In the period of resolution of an impaired loan accounted for on an individual basis, the difference between the carrying amount of the loan and the proceeds received is recognized as a gain or loss within noninterest income. The majority of impaired loans are accounted for within a pool of loans which results in any difference between the proceeds received and the loan carrying amount being deferred as part of the carrying amount of the pool. The accretable amount of the pool remains unaffected from the resolution until the subsequent quarterly cash flow re-estimation. Favorable results from removal of the resolved loan from the pool increase the future accretable yield of the pool, while unfavorable results are recorded as impairment in the quarter of the cash flow re-estimation. Acquired or FDIC acquired impaired loans subject to modification are not removed from a pool even if those loans would otherwise be deemed TDRs as the pool, and not the individual loan, represents the unit of account. Credit Quality A loan is considered to be impaired when, based on current events or information, it is probable the Corporation will be unable to collect all amounts due (principal and interest) per the contractual terms of the loan agreement. Interest income recognized on impaired loans was $0.4 million and $0.6 million for the three and six months ended June 30, 2016 , compared to $0.1 million and $0.2 million for the three and six months ended June 30, 2015 . Interest income which would have been earned in accordance with the original terms was $1.4 million and $2.6 million for the three and six months ended June 30, 2016 , compared to $0.9 million and $1.8 million for the three and six months ended June 30, 2015 . Loan impairment is measured based on either the present value of expected future cash flows discounted at the loan's effective interest rate, at the observable market price of the loan, or the fair value of the collateral for certain collateral dependent loans. Impaired loans include all nonaccrual commercial, agricultural, construction, and commercial real estate loans, and loans modified as a TDR, regardless of nonperforming status. Acquired and FDIC acquired impaired loans are not considered or reported as impaired loans. Nonimpaired acquired loans that are subsequently placed on nonaccrual status are reported as impaired loans and included in the Troubled Debt Restructurings section below. Acquired loans restructured after acquisition are not considered or reported as TDRs if the loans evidenced credit deterioration as of the date of acquisition and are accounted for in pools. The following tables provide further detail on impaired loans individually evaluated for impairment and the associated ALL. Certain impaired loans do not have a related ALL as the valuation of these impaired loans exceeded the recorded investment. As of June 30, 2016 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 19,489 $ 22,663 $ — $ 29,022 CRE 26,058 24,696 — 17,119 Construction 512 512 — 102 Leases — — — — Consumer Installment 2,366 2,697 — 1,636 Home equity line 695 948 — 694 Credit card 15 15 — 19 Residential mortgages 11,950 14,350 — 11,680 Subtotal 61,085 65,881 — 60,272 Impaired loans with a related allowance Commercial C&I 43,218 51,933 10,447 21,305 CRE 3,481 3,563 507 1,999 Construction — — — — Leases — — — — Consumer Installment 39,906 40,033 1,149 35,473 Home equity line 7,179 7,180 169 6,803 Credit card 664 664 201 699 Residential mortgages 11,435 11,549 981 12,201 Subtotal 105,883 114,922 13,454 78,480 Total impaired loans $ 166,968 $ 180,803 $ 13,454 $ 138,752 Note 1: These tables exclude loans fully charged-off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. As of December 31, 2015 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 21,066 $ 23,854 $ — $ 27,215 CRE 15,465 17,456 — 13,031 Construction — — — — Consumer Installment 1,369 1,658 — 1,807 Home equity line 670 919 — 999 Credit card 21 21 — 20 Residential mortgages 11,550 13,901 — 11,979 Subtotal 50,141 57,809 — 55,051 Impaired loans with a related allowance Commercial C&I 22,752 28,881 11,837 11,284 CRE 1,149 1,173 128 3,037 Construction — — — — Consumer Installment 35,535 35,592 1,009 28,808 Home equity line 6,410 6,411 188 6,382 Credit card 696 696 243 757 Residential mortgages 12,355 12,458 944 12,619 Subtotal 78,897 85,211 14,349 62,887 Total impaired loans $ 129,038 $ 143,020 $ 14,349 $ 117,938 Note 1: These tables exclude loans fully charged-off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. As of June 30, 2015 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 28,076 $ 37,358 $ — $ 27,238 CRE 11,482 17,585 — 12,983 Construction — — — — Leases 1,162 1,162 — 598 Consumer Installment 1,678 2,183 — 1,753 Home equity line 884 1,132 — 906 Credit card 19 19 — 26 Residential mortgages 12,047 14,700 — 12,146 Subtotal 55,348 74,139 — 55,650 Impaired loans with a related allowance Commercial C&I 17,893 18,062 9,117 7,199 CRE 590 593 151 600 Construction — — — — Consumer Installment 30,249 30,302 1,001 25,722 Home equity line 6,537 6,537 217 6,684 Credit card 768 768 250 823 Residential mortgages 12,650 12,739 890 12,675 Subtotal 68,687 69,001 11,626 53,703 Total impaired loans $ 124,035 $ 143,140 $ 11,626 $ 109,353 Note 1: These tables exclude loans fully charged-off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. Troubled Debt Restructurings In certain circumstances, the Corporation may modify the terms of a loan to maximize the collection of amounts due when a borrower is experiencing financial difficulties or is expected to experience difficulties in the near term. In most cases, the modification is either a concessionary reduction in interest rate, extension of the maturity date or modification of the adjustable rate provisions of the loan that would otherwise not be considered; however, forgiveness of principal is rarely granted. Concessionary modifications are classified as TDRs unless the modification is short-term, typically less than 90 days. TDRs accrue interest if the borrower complies with the revised terms and conditions and has demonstrated repayment performance at a level commensurate with the modified terms for a minimum of six consecutive payment cycles after the restructuring date. Acquired loans restructured after acquisition are not considered TDRs if the loans evidenced credit deterioration as of the Acquisition Date and are accounted for in pools. The substantial majority of the Corporation's residential mortgage TDRs involve reducing the client's loan payment through an interest rate reduction for a set period of time based on the borrower's ability to service the modified loan payment. Modifications of mortgages retained in portfolio are handled using proprietary modification guidelines, or the FDIC's Modification Program for residential first mortgages covered by loss share agreements (agreements between the Bank and the FDIC that afford the Bank significant protection against future losses). The Corporation participates in the U.S. Treasury's Home Affordable Modification Program for originated mortgages sold to and serviced for FNMA and FHLMC. Commercial and industrial loans modified in a TDR often involve temporary interest-only payments, term extensions and converting revolving credit lines to term loans. Additional collateral, a co-borrower, or a guarantor is often requested. Commercial real estate and construction loans modified in a TDR often involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, or substituting or adding a new borrower or guarantor. Construction loans modified in a TDR may also involve extending the interest-only payment period. The Corporation has modified certain loans according to provisions in loss share agreements. Losses associated with modifications on these loans, including the economic impact of interest rate reductions, are generally eligible for reimbursement under the loss share agreements. The following tables provide the number of loans modified in a TDR and the recorded investment and unpaid principal balance by loan portfolio as of June 30, 2016 , December 31, 2015 , and June 30, 2015 . As of June 30, 2016 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 27 $ 36,650 $ 39,985 CRE 26 20,005 22,025 Construction 0 — — Total originated commercial 53 56,655 62,010 Consumer Installment 1,310 42,272 42,730 Home equity lines 260 7,874 8,128 Credit card 197 679 679 Residential mortgages 303 23,385 25,899 Total originated consumer 2,070 74,210 77,436 Total originated loans 2,123 $ 130,865 $ 139,446 Acquired loans Commercial C&I 0 $ — $ — CRE 6 4,998 5,453 Construction 0 — — Total acquired commercial 6 4,998 5,453 Consumer Installment 67 1,585 1,661 Home equity lines 173 7,520 7,583 Residential mortgages 32 2,899 3,216 Total acquired consumer 272 12,004 12,460 Total acquired loans 278 $ 17,002 $ 17,913 FDIC acquired loans Commercial C&I 0 $ — $ — CRE 3 13,124 11,417 Construction 1 566 672 Total FDIC acquired commercial 4 13,690 12,089 Consumer Home equity lines 71 8,529 8,544 Residential mortgages 0 — — Total FDIC acquired consumer 71 8,529 8,544 Total FDIC acquired loans 75 $ 22,219 $ 20,633 Total loans Commercial C&I 27 $ 36,650 $ 39,985 CRE 35 38,127 38,895 Construction 1 566 672 Total commercial 63 75,343 79,552 Consumer Installment 1,377 43,857 44,391 Home equity lines 504 23,923 24,255 Credit card 197 679 679 Residential mortgages 335 26,284 29,115 Total consumer 2,413 94,743 98,440 Total loans 2,476 $ 170,086 $ 177,992 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs and remaining purchase discount. As of December 31, 2015 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 26 $ 33,087 $ 33,740 CRE 24 14,671 16,648 Construction 0 — — Total originated commercial 50 47,758 50,388 Consumer Installment 1,223 36,904 37,250 Home equity lines 257 7,080 7,330 Credit card 212 717 717 Residential mortgages 312 23,905 26,359 Total originated consumer 2,004 68,606 71,656 Total originated loans 2,054 $ 116,364 $ 122,044 Acquired loans Commercial C&I 1 7,611 7,611 CRE 3 918 1,044 Total acquired commercial 4 8,529 8,655 Consumer Installment 51 1,117 1,211 Home equity lines 176 7,718 7,778 Residential mortgages 31 2,154 2,382 Total acquired consumer 258 10,989 11,371 Total acquired loans 262 $ 19,518 $ 20,026 FDIC acquired loans Commercial C&I 0 $ — $ — CRE 3 14,056 12,479 Construction 1 593 682 Total FDIC acquired commercial 4 14,649 13,161 Consumer Home equity lines 81 10,215 10,281 Residential Mortgages 1 182 182 Total FDIC acquired consumer 82 10,397 10,463 Total FDIC acquired loans 86 $ 25,046 $ 23,624 Total loans Commercial C&I 27 $ 40,698 $ 41,351 CRE 30 29,645 30,171 Construction 1 593 682 Total commercial 58 70,936 72,204 Consumer Installment 1,274 38,021 38,461 Home equity lines 514 25,013 25,389 Credit card 212 717 717 Residential mortgages 344 26,241 28,923 Total consumer 2,344 89,992 93,490 Total loans 2,402 $ 160,928 $ 165,694 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs and remaining purchase discount. As of June 30, 2015 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 56 $ 29,454 $ 36,538 CRE 69 10,362 15,681 Construction 31 — — Total originated commercial 156 39,816 52,219 Consumer Installment 1,215 31,927 32,485 Home equity lines 271 7,421 7,669 Credit card 231 787 787 Residential mortgages 316 24,697 27,439 Total originated consumer 2,033 64,832 68,380 Total originated loans 2,189 $ 104,648 $ 120,599 Acquired loans Commercial C&I 2 — 55 CRE 3 930 1,018 Total acquired commercial 5 930 1,073 Consumer Installment 50 1,144 1,227 Home equity lines 174 7,138 7,205 Residential mortgages 31 2,150 2,386 Total acquired consumer 255 10,432 10,818 Total acquired loans 260 $ 11,362 $ 11,891 FDIC acquired loans Commercial C&I 8 $ — $ 1,299 CRE 24 11,704 27,933 Construction 9 525 9,542 Total FDIC acquired commercial 41 12,229 38,774 Consumer Home equity lines 77 10,563 10,739 Residential mortgages 1 184 184 Total FDIC acquired consumer 78 10,747 10,923 Total FDIC acquired loans 119 $ 22,976 $ 49,697 Total loans Commercial C&I 66 $ 29,454 $ 37,892 CRE 96 22,996 44,632 Construction 40 525 9,542 Total commercial 202 52,975 92,066 Consumer Installment 1,265 33,071 33,712 Home equity lines 522 25,122 25,613 Credit card 231 787 787 Residential mortgages 348 27,031 30,009 Total consumer 2,366 86,011 90,121 Total loans 2,568 $ 138,986 $ 182,187 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs and remaining purchase discount. The pre-modification and post-modification outstanding recorded investments of loans modified as TDRs during the three and six months ended June 30, 2016 and 2015 were not materially different. Post-modification balances may include capitalization of unpaid accrued interest and fees associated with the modification as well as forgiveness of principal. Loans modified as TDRs during the three and six months ended June 30, 2016 and 2015 did not involve the forgiveness of principal; accordingly, the Corporation did not record a charge-off at the modification date. Additionally, capitalization of any unpaid accrued interest and fees assessed to loans modified in the three and six months ended June 30, 2016 and 2015 were not material to the accompanying consolidated financial statements. Specific allowances for loan losses are established for loans whose terms have been modified in a TDR. Specific reserve allocations are generally assessed prior to loans being modified in a TDR, as most of these loans migrate from the Corporation's internal watch list and have been specifically allocated for as part of the Corporation's normal loan loss provisioning methodology. At June 30, 2016 , December 31, 2015 , and June 30, 2015 , the Corporation had $0.2 million , $7.0 million , and $3.7 million , respectively, in commitments to lend additional funds to debtors owing receivables whose terms have been modified in a TDR. The following tables provide a summary of the delinquency status of TDRs along with the specific allowance for loan loss, by loan type, as of June 30, 2016 , December 31, 2015 , and June 30, 2015 , including TDRs that continue to accrue interest and TDRs included in nonperforming assets. As of June 30, 2016 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 16,082 $ 969 $ 17,051 $ 13,068 $ 6,531 $ 19,599 $ 36,650 $ 4,917 CRE 8,851 93 8,944 111 10,950 11,061 20,005 5 Construction — — — — — — — — Total originated commercial 24,933 1,062 25,995 13,179 17,481 30,660 56,655 4,922 Consumer Installment 39,255 1,064 40,319 1,718 235 1,953 42,272 1,149 Home equity lines 7,017 79 7,096 778 — 778 7,874 169 Credit card 519 117 636 — 43 43 679 201 Residential mortgages 14,324 524 14,848 5,717 2,820 8,537 23,385 981 Total originated consumer 61,115 1,784 62,899 8,213 3,098 11,311 74,210 2,500 Total originated TDRs $ 86,048 $ 2,846 $ 88,894 $ 21,392 $ 20,579 $ 41,971 $ 130,865 $ 7,422 Acquired loans Commercial C&I $ — $ — $ — $ — $ — $ — $ — $ — CRE 2,720 — 2,720 2,151 127 2,278 4,998 156 Construction — — — — — — — — Total acquired commercial 2,720 — 2,720 2,151 127 2,278 4,998 156 Consumer Installment 1,142 223 1,365 220 — 220 1,585 86 Home equity lines 6,820 583 7,403 117 — 117 7,520 115 Residential mortgages 2,259 — 2,259 640 — 640 2,899 176 Total acquired consumer 10,221 806 11,027 977 — 977 12,004 377 Total acquired TDRs $ 12,941 $ 806 $ 13,747 $ 3,128 $ 127 $ 3,255 $ 17,002 $ 533 FDIC acquired loans Commercial C&I $ — $ — $ — $ — $ — $ — $ — $ — CRE — — — — 13,124 13,124 13,124 2,236 Construction — — — 566 — 566 566 25 Total FDIC acquired commercial — — — 566 13,124 13,690 13,690 2,261 Consumer Home equity lines 8,392 87 8,479 50 — 50 8,529 21 Residential mortgages — — — — — — — — Total FDIC acquired consumer 8,392 87 8,479 50 — 50 8,529 21 Total FDIC acquired TDRs $ 8,392 $ 87 $ 8,479 $ 616 $ 13,124 $ 13,740 $ 22,219 $ 2,282 Total loans Commercial C&I $ 16,082 $ 969 $ 17,051 $ 13,068 $ 6,531 $ 19,599 $ 36,650 $ 4,917 CRE 11,571 93 11,664 2,262 24,201 26,463 38,127 2,397 Construction — — — 566 — 566 566 25 Total commercial 27,653 1,062 28,715 15,896 30,732 46,628 75,343 7,339 Consumer Installment 40,397 1,287 41,684 1,938 235 2,173 43,857 1,235 Home equity lines 22,229 749 22,978 945 — 945 23,923 305 Credit card 519 117 636 — 43 43 679 201 Residential mortgages 16,583 524 17,107 6,357 2,820 9,177 26,284 1,157 Total consumer 79,728 2,677 82,405 9,240 3,098 12,338 94,743 2,898 Total TDRs $ 107,381 $ 3,739 $ 111,120 $ 25,136 $ 33,830 $ 58,966 $ 170,086 $ 10,237 As of December 31, 2015 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 22,566 $ 107 $ 22,673 $ 4,229 $ 6,185 $ 10,414 $ 33,087 $ 6,052 CRE 10,271 2,247 12,518 746 1,407 2,153 14,671 20 Construction — — — — — — — — Total originated commercial 32,837 2,354 35,191 4,975 7,592 12,567 47,758 6,072 Consumer Installment 34,902 794 35,696 1,125 83 1,208 36,904 1,009 Home equity lines 6,511 114 6,625 399 56 455 7,080 188 Credit card 575 140 715 — 2 2 717 243 Residential mortgages 12,869 2,896 15,765 4,611 3,529 8,140 23,905 944 Total originated consumer 54,857 3,944 58,801 6,135 3,670 9,805 68,606 2,384 Total originated TDRs $ 87,694 $ 6,298 $ 93,992 $ 11,110 $ 11,262 $ 22,372 $ 116,364 $ 8,456 Acquired loans Commercial C&I $ 7,611 $ — $ 7,611 $ — $ — $ — $ 7,611 $ — CRE — — — 659 259 918 918 201 Total acquired commercial 7,611 — 7,611 659 259 918 8,529 201 Consumer Installment 967 126 1,093 14 10 24 1,117 45 Home equity lines 6,941 655 7,596 122 — 122 7,718 70 Residential mortgages 1,096 256 1,352 802 — 802 2,154 — Total acquired consumer 9,004 1,037 10,041 938 10 948 10,989 115 Total acquired TDRs $ 16,615 $ 1,037 $ 17,652 $ 1,597 $ 269 $ 1,866 $ 19,518 $ 316 FDIC acquired loans Commercial C&I $ — $ — $ — $ — $ — $ — $ — $ — CRE — 14,056 14,056 — — — 14,056 2,333 Construction 593 — 593 — — — 593 — Total FDIC acquired commercial 593 14,056 14,649 — — — 14,649 2,333 Consumer Home equity lines 10,065 70 10,135 6 74 80 10,215 23 Residential mortgages 182 — 182 — — — 182 — Total FDIC acquired consumer 10,247 70 10,317 6 74 80 10,397 23 Total FDIC acquired TDRs $ 10,840 $ 14,126 $ 24,966 $ 6 $ 74 $ 80 $ 25,046 $ 2,356 Total Loans Commercial C&I $ 30,177 $ 107 $ 30,284 $ 4,229 $ 6,185 $ 10,414 $ 40,698 $ 6,052 CRE 10,271 16,303 26,574 1,405 1,666 3,071 29,645 2,554 Construction 593 — 593 — — — 593 — Total commercial 41,041 16,410 57,451 5,634 7,851 13,485 70,936 8,606 Consumer Installment |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill Goodwill totaled $741.7 million as of June 30, 2016 , December 31, 2015 , and June 30, 2015 . Goodwill is not amortized but is evaluated for impairment on an annual basis at November 30 of each year or whenever events or changes in circumstances indicate the carrying value may not be recoverable. No events or circumstances since the November 30, 2015 annual impairment test were noted that would indicate it was more likely than not a goodwill impairment exists. Other Intangible Assets The Corporation has other intangible assets that are amortized, consisting of core deposit intangibles, lease intangibles and trust relationship intangibles. The following tables show the gross carrying amount, accumulated amortization, and net carrying amount of these intangible assets. June 30, 2016 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (32,083 ) $ 50,240 Lease intangible 238 (229 ) 9 Trust Relationships (2) 14,000 (8,229 ) 5,771 $ 96,561 $ (40,541 ) $ 56,020 December 31, 2015 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (28,304 ) $ 54,019 Lease intangible 238 (212 ) 26 Trust Relationships (2) 14,000 (7,417 ) 6,583 $ 96,561 $ (35,933 ) $ 60,628 June 30, 2015 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (24,150 ) $ 58,173 Lease intangible 238 (194 ) 44 Trust relationships (2) 14,000 (6,393 ) 7,607 $ 96,561 $ (30,737 ) $ 65,824 (1) Core deposit intangibles are amortized on an accelerated basis over their estimated useful lives, which range from 10 - 15 years. (2) Trust relationship intangibles are amortized on an accelerated basis on their estimated useful lives of 12 years . Amortization expense for intangible assets was $4.6 million in the six months ended June 30, 2016 , compared to $5.2 million in the six months ended June 30, 2015 . Estimated amortization expense for each of the next five years is as follows: remainder of 2016 - $4.6 million ; 2017 - $8.2 million ; 2018 - $7.3 million ; and 2019 - $6.5 million ; 2020 - $5.2 million . |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Stockholders' Equity | Shareholders' Equity Common Stock Warrant On May 13, 2015, the Corporation repurchased a warrant previously issued by Citizens to the U.S. Treasury. The warrant, which entitled the U.S. Treasury to purchase 2,571,998 shares of FirstMerit Common Stock at an adjusted strike price of $17.50 , was purchased for $12.2 million . In accordance with GAAP, the Corporation recorded a reduction to capital surplus in the amount of $9.2 million in conjunction with this warrant repurchase that reflected the excess amount paid over the previously stated amount. Preferred Stock The Corporation has 7,000,000 shares of authorized Preferred Stock and has designated 115,000 shares of its Preferred Stock as 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. On February 4, 2013, the Corporation issued 100,000 shares of its Non-Cumulative Perpetual Preferred Stock, Series A, which began paying cash dividends on May 4, 2013, quarterly in arrears on the 4 th day of February, May, August, and November. Earnings Per Share Basic net income per common share is calculated using the two-class method to determine income attributable to common shareholders. Net income attributable to Common Stock is then divided by the weighted-average number of Common Stock outstanding during the period. Diluted net income per common share is calculated under the more dilutive of either the treasury method or two-class method. Adjustments to the weighted-average number of shares of Common Stock outstanding are made only when such adjustments will dilute earnings per common share. Net income attributable to Common Stock is then divided by the weighted-average number of Common Stock and Common Stock equivalents outstanding during the period. The reconciliation between basic and diluted EPS using the two-class method and treasury stock method is presented as follows: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share amounts) 2016 2015 2016 2015 Basic EPS: Net income $ 58,309 $ 56,584 $ 112,445 $ 113,723 Less: Cash dividends on 5.875% non-cumulative perpetual series A, Preferred Stock 1,469 1,469 2,938 2,938 Income allocated to participating securities 496 467 955 937 Net income attributable to common shareholders $ 56,344 $ 54,648 $ 108,552 $ 109,848 Weighted average Common Stock outstanding used in basic EPS 166,188 165,736 165,966 165,574 Basic net income per common share $ 0.34 $ 0.33 $ 0.65 $ 0.66 Diluted EPS: Income used in diluted earnings per common share calculation $ 56,344 $ 54,648 $ 108,552 $ 109,848 Weighted average Common Stock outstanding used in basic EPS 166,188 165,736 165,966 165,574 Add: Common Stock equivalents Employee stock award plans 619 541 597 515 Weighted average Common and Common Stock equivalent shares outstanding 166,807 166,277 166,563 166,089 Diluted net income per common share $ 0.34 $ 0.33 $ 0.65 $ 0.66 Common Stock equivalents consist of employee stock award plans. These Common Stock equivalents do not enter into the calculation of diluted EPS if the impact would be anti-dilutive, that is, increase EPS or reduce a loss per share. Anti-dilutive potential Common Stock for the six months ended June 30, 2016 and 2015 totaled 0.2 million and 0.8 million , respectively. |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2016 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information Management monitors the Corporation’s results by an internal performance measurement system, which provides lines of business results and key performance measures. The profitability measurement system is based on internal financial management practices designed to produce consistent results and reflect the underlying economics of the businesses. The development and application of these methodologies is a dynamic process. Accordingly, these measurement tools and assumptions may be revised periodically to reflect methodological, product, and/or management organizational changes. Further, these tools measure financial results that support the strategic objectives and internal organizational structure of the Corporation. Consequently, the information presented is not necessarily comparable with similar information for other financial institutions. A description of each business, selected financial performance, and the methodologies used to measure financial performance are presented below. • Commercial – The commercial line of business provides a full range of lending, depository, and related financial services to middle-market corporate, industrial, financial, core business banking, public entities, and leasing clients. Commercial also includes personal business from commercial loan clients in coordination with the Wealth Management segment. Products and services offered include commercial term loans, revolving credit arrangements, asset-based lending, leasing, commercial mortgages, real estate construction lending, letters of credit, treasury management, government banking, international banking, merchant card and other depository products and services. • Retail – The retail line of business includes consumer lending and deposit gathering, residential mortgage loan origination and servicing, and branch-based small business banking. Retail offers a variety of retail financial products and services including consumer direct and indirect installment loans, debit and credit cards, residential mortgage loans, home equity loans and lines of credit, deposit products, fixed and variable annuities and ATM network services. Deposit products include checking, savings, money market accounts and certificates of deposit. • Wealth – The wealth line of business offers a broad array of asset management, private banking, financial planning, estate settlement and administration, credit and deposit products and services. Trust and investment services include personal trust and planning, investment management, estate settlement and administration services. Retirement plan services focus on investment management and fiduciary activities. Brokerage and insurance delivers retail mutual funds, other securities, variable and fixed annuities, personal disability and life insurance products and brokerage services. Private banking provides credit, deposit and asset management solutions for affluent clients. • Other – The other line of business includes activities that are not directly attributable to one of the three principal lines of business. Included in the Other category are the Parent Company, eliminating companies, community development operations, the treasury group, which includes the securities portfolio, wholesale funding and asset liability management activities, and the economic impact of certain assets, capital and support functions not specifically identifiable with the three primary lines of business. The accounting policies of the lines of businesses are the same as those of the Corporation described in Note 1 ( Summary of Significant Accounting Policies ) to the 2015 Form 10-K. Funds transfer pricing is used in the determination of net interest income by assigning a cost for funds used or credit for funds provided to assets and liabilities within each business unit. Assets and liabilities are match-funded based on their maturity, prepayment and/or repricing characteristics. As a result, the three primary lines of business are generally insulated from changes in interest rates. Changes in net interest income due to changes in rates are reported in Other by the treasury group. Capital has been allocated on an economic risk basis. Loans and lines of credit have been allocated capital based upon their respective credit risk. Asset management holdings in the Wealth segment have been allocated capital based upon their respective market risk related to assets under management. Normal business operating risk has been allocated to each line of business by the level of noninterest expense. Mismatches between asset and liability cash flows as well as interest rate risk for mortgage servicing rights and mortgage origination business have been allocated capital based upon their respective asset/liability management risk. The provision for loan loss is allocated based upon the actual net charge-offs of each respective line of business, adjusted for loan growth and changes in risk profile. Noninterest income and expenses directly attributable to a line of business are assigned to that line of business. Expenses for centrally provided services are allocated to the business line by various activity based cost formulas. Substantially all of the Corporation’s business is conducted in the United States of America. The following tables present a summary of financial results as of and for the three and six months ended June 30, 2016 and June 30, 2015 : FirstMerit (In thousands) Commercial Retail Wealth Other Consolidated June 30, 2016 QTD YTD QTD YTD QTD YTD QTD YTD QTD YTD OPERATIONS: Net interest income/(loss) $ 101,313 $ 203,932 $ 94,369 $ 189,096 $ 6,314 $ 12,867 $ (15,918 ) $ (34,661 ) $ 186,078 $ 371,234 Provision/ (recapture) for loan losses 1,070 6,842 5,123 9,169 (20 ) (175 ) 218 (1,636 ) 6,391 14,200 Noninterest income 20,782 41,961 22,079 45,673 15,129 29,437 7,125 15,438 65,115 132,509 Noninterest expense 57,201 118,221 84,880 173,575 13,883 27,236 4,356 8,251 160,320 327,283 Net income/(loss) 41,486 78,539 17,189 33,816 4,927 9,908 (5,293 ) (9,818 ) 58,309 112,445 AVERAGES: Assets $ 9,600,103 $ 9,596,152 $ 6,370,350 $ 6,301,303 $ 314,752 $ 310,159 $ 9,638,361 $ 9,639,033 $ 25,923,566 $ 25,846,647 Loans 9,721,866 9,715,827 6,173,352 6,097,054 306,028 301,586 41,656 46,706 16,242,902 16,161,173 Earning assets 10,081,198 10,077,716 6,178,619 6,103,154 306,028 301,586 6,555,458 6,523,236 23,121,303 23,005,692 Deposits 7,269,121 7,373,805 11,003,769 11,014,512 1,284,516 1,302,113 1,410,044 1,111,129 20,967,450 20,801,559 Economic capital 1,251,845 1,252,069 867,958 870,360 121,824 126,706 770,591 742,055 3,012,218 2,991,190 FirstMerit (In thousands) Commercial Retail Wealth Other Consolidated June 30, 2015 QTD YTD QTD YTD QTD YTD QTD YTD QTD YTD OPERATIONS: Net interest income/(loss) $ 101,342 $ 202,830 $ 92,501 $ 184,527 $ 5,452 $ 10,932 $ (14,177 ) $ (27,548 ) $ 185,118 $ 370,741 Provision/ (recapture) for loan losses 2,285 1,759 8,447 15,981 (1 ) (171 ) (1,765 ) (355 ) 8,966 17,214 Noninterest income 21,918 44,408 23,964 45,701 14,816 28,792 5,884 13,528 66,582 132,429 Noninterest expense 61,032 122,685 87,799 176,070 13,461 27,181 (618 ) (3,610 ) 161,674 322,326 Net income/(loss) 38,963 79,816 13,142 24,815 4,425 8,264 54 828 56,584 113,723 AVERAGES: Assets $ 9,437,824 $ 9,445,975 $ 5,951,665 $ 5,898,835 $ 290,798 $ 296,461 $ 9,449,572 $ 9,374,463 $ 25,129,859 $ 25,015,734 Loans 9,533,843 9,520,262 5,702,015 5,636,666 281,013 286,484 60,490 59,274 15,577,361 15,502,686 Earning assets 9,828,867 9,811,770 5,707,400 5,645,469 281,013 286,484 6,535,441 6,483,544 22,352,721 22,227,267 Deposits 6,777,434 6,831,887 11,105,954 11,115,005 1,188,563 1,214,617 610,711 573,990 19,682,662 19,735,499 Economic capital 1,355,049 1,349,289 767,803 763,446 111,770 109,969 657,810 656,765 2,892,432 2,879,469 |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Derivatives and Hedging Activities The Corporation, through its mortgage banking and risk management operations, is party to various derivative instruments that are used for asset and liability management and customers' financing needs. Derivative instruments are contracts between two or more parties that have a notional amount and underlying variable, require no net investment and allow for the net settlement of positions. The notional amount serves as the basis for the payment provision of the contract and takes the form of units, such as shares or dollars. The underlying variable represents a specified interest rate, index or other component. The interaction between the notional amount and the underlying variable determines the number of units to be exchanged between the parties and influences the market value of the derivative contract. The predominant derivative and hedging activities include interest rate swaps and certain mortgage banking activities. Generally, these instruments help the Corporation manage exposure to market risk, and meet customer financing needs. Market risk represents the possibility that economic value or net interest income will be adversely affected by fluctuations in external factors, such as interest rates, market-driven rates and prices or other economic factors. Foreign exchange contracts are entered into to accommodate the needs of customers. Derivatives Designated in Hedge Relationships The Corporation's fixed rate loans result in exposure to losses in value as interest rates change. The risk management objective for hedging fixed rate loans is to convert the fixed rate received to a floating rate. The Corporation hedges exposure to changes in the fair value of fixed rate loans through the use of swaps. For a qualifying fair value hedge, changes in the value of the derivatives that have been highly effective as hedges are recognized in current period earnings along with the corresponding changes in the fair value of the designated hedged item attributable to the risk being hedged. At June 30, 2016 , December 31, 2015 , and June 30, 2015 , the notional values or contractual amounts and fair value of the Corporation's derivatives designated in hedge relationships were as follows: Asset Derivatives Liability Derivatives June 30, 2016 December 31, 2015 June 30, 2015 June 30, 2016 December 31, 2015 June 30, 2015 (In thousands) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Interest rate swaps: Commercial loan swaps (FRAPS) $ — $ — $ — $ — $ — $ — $ 50,668 $ 2,772 $ 55,689 $ 3,536 $ 75,794 $ 5,104 Sub debt swap 250,000 29,760 250,000 8,739 250,000 1,153 — — — — — — Fair value hedges $ 250,000 $ 29,760 $ 250,000 $ 8,739 $ 250,000 $ 1,153 $ 50,668 $ 2,772 $ 55,689 $ 3,536 $ 75,794 $ 5,104 ( 1) Included in "Other assets" on the Consolidated Balance Sheets (2) Included in "Other liabilities" on the Consolidated Balance Sheets Commercial Loan Swaps. Prior to 2008, the Corporation entered into interest rate swaps with dealer counterparties to convert certain fixed rate loans to variable rate instruments over the terms of the loans (termed by the Corporation as the FRAP Program). These interest rate swaps are designated as fair value hedges and met the criteria to qualify for the short cut method of accounting. Based on this shortcut method of accounting treatment, no ineffectiveness is assumed. The Corporation discontinued originating interest rate swaps under the FRAP Program in February 2008. Sub Debt Swap. During the fourth quarter of 2014, the Corporation entered into a $250.0 million interest rate swap simultaneously with its long-term debt issuance for interest rate risk management purposes. This interest rate swap effectively modifies the receipt of fixed-rate interest amounts in exchange for floating-rate interest payments over the life of the swap, without an exchange of the underlying principal amount. This interest rate swap was designated as a fair value hedge, and through application of the “shortcut method of accounting”, there is an assumption that the hedge is effective in offsetting changes in the fair value of the long-term debt due to changes in the U.S. LIBOR swap rate (the designated benchmark interest rate). Derivatives Not Designated in Hedge Relationships As of June 30, 2016 , December 31, 2015 , and June 30, 2015 , the notional values or contractual amounts and fair value of the Corporation's derivatives not designated in hedge relationships were as follows: Asset Derivatives Liability Derivatives June 30, 2016 December 31, 2015 June 30, 2015 June 30, 2016 December 31, 2015 June 30, 2015 (In thousands) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Interest rate swaps $ 1,904,459 $ 87,575 $ 1,824,576 $ 48,920 $ 1,726,600 $ 46,216 $ 1,904,459 $ 87,575 $ 1,824,576 $ 48,920 $ 1,726,600 $ 46,216 Mortgage loan commitments 32,802 253 20,635 149 52,024 342 — — — — — — Forward sales contracts — — — — 15,200 106 8,059 61 9,659 5 — — Credit contracts — — — — — — 74,945 7 73,715 — 73,512 — Foreign exchange 20,180 254 13,671 299 29,687 256 18,571 207 11,706 284 15,823 177 Equity swap — — — — — — 35,034 — 36,631 — 31,718 — Total $ 1,957,441 $ 88,082 $ 1,858,882 $ 49,368 $ 1,823,511 $ 46,920 $ 2,041,068 $ 87,850 $ 1,956,287 $ 49,209 $ 1,847,653 $ 46,393 (1) Included in "Other assets" on the Consolidated Balance Sheets (2) Included in "Other liabilities" on the Consolidated Balance Sheets Interest Rate Swaps. The Corporation's Back-to-Back Program is an interest rate swap program for commercial loan customers that provides the customer with a fixed rate loan while creating a variable rate asset for the Corporation through the customer entering into an interest rate swap with the Corporation on terms that match the loan. The Corporation offsets its risk exposure by entering into an offsetting interest rate swap with a dealer counterparty. These swaps do not qualify as designated hedges; therefore, each swap is accounted for as a standalone derivative. Mortgage banking . In the normal course of business, the Corporation sells originated mortgage loans into the secondary mortgage loan markets. During the period of loan origination and prior to the sale of the loans in the secondary market, the Corporation has exposure to movements in interest rates associated with mortgage loans that are in the "mortgage pipeline" and the "mortgage warehouse". A pipeline loan is one in which the Corporation has entered into a written mortgage loan commitment with a potential borrower that will be held for resale. Once a mortgage loan is closed and funded, it is included within the mortgage warehouse of loans awaiting sale and delivery into the secondary market. Written loan commitments that relate to the origination of mortgage loans that will be held for resale are considered free-standing derivatives and do not qualify for hedge accounting. Written loan commitments generally have a term of up to 60 days before the closing of the loan. The loan commitment does not bind the potential borrower to entering into the loan, nor does it guarantee that the Corporation will approve the potential borrower for the loan. Therefore, when determining fair value, the Corporation makes estimates of expected "fallout" (loan commitments not expected to close), using models which consider cumulative historical fallout rates and other factors. In addition, expected net future cash flows related to loan servicing activities are included in the fair value measurement of a written loan commitment. Written loan commitments in which the borrower has locked in an interest rate result in market risk to the Corporation to the extent market interest rates change from the rate quoted to the borrower. The Corporation economically hedges the risk of changing interest rates associated with its interest rate lock commitments by entering into forward sales contracts. The Corporation's warehouse (mortgage loans held for sale) is subject to changes in fair value, due to fluctuations in interest rates from the loan's closing date through the date of sale of the loan into the secondary market. Typically, the fair value of the warehouse declines in value when interest rates increase and rises in value when interest rates decrease. To mitigate this risk, the Corporation enters into forward sales contracts on a significant portion of the warehouse to provide an economic hedge against those changes in fair value. Mortgage loans held for sale and the forward sales contracts were recorded at fair value with ineffective changes in value recorded in current earnings as Loan sales and servicing income. Credit contracts. The Corporation has bought and sold credit protection in the form of participations in interest rate swaps (swap participations). These swap participations, which meet the definition of credit derivatives, were entered into in the ordinary course of business. Credit derivatives, whereby the Corporation has purchased credit protection, entitles the Corporation to receive a payment from the counterparty when the customer fails to make payment on any amounts due to the Corporation. Swap participations whereby the Corporation has purchased credit protection have maturities that range between less than two to seven years. For swap participations where the Corporation sold credit protection, the Corporation has guaranteed payment in the event that the counterparty experiences a loss on the swap due to a failure to pay by the Corporation's commercial loan customer. The Corporation simultaneously entered into reimbursement agreements with the commercial loan customers obligating the customers to reimburse the Corporation for any payments it makes under the swap participations. The Corporation monitors its payment risk on its swap participations by monitoring the creditworthiness of its commercial loan customers, which is based on the normal credit review process the Corporation would have performed had it entered into these derivative instruments directly with the commercial loan customers. Credit derivatives whereby the Corporation has sold credit protection have maturities ranging from less than one year to nine years. The Corporation's maximum estimated exposure to sold swap participations, as measured by projecting a maximum value of the guaranteed derivative instruments based on interest rate curve simulations and assuming 100% default by all obligors on the maximum values, was approximately $7.1 million as of June 30, 2016 . The fair values of the written swap participations were not material at June 30, 2016 , December 31, 2015 , and June 30, 2015 . Gains and losses recognized in income on non-designated hedging instruments for the three and six months ended June 30, 2016 and 2015 are as follows: Derivatives not instruments Location of Gain/(Loss) Derivative Amount of Gain / (Loss) Recognized in Income on Derivatives (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Mortgage loan commitments Loan sales and servicing income $ 12 $ (46 ) $ 105 $ (1,066 ) Forward sales contracts Loan sales and servicing income 20 175 (56 ) 378 Foreign exchange contracts Other operating income 766 165 1,585 (712 ) Equity swap Other operating expense — — — — Total $ 798 $ 294 $ 1,634 $ (1,400 ) Counterparty Credit Risk Like other financial instruments, derivatives contain an element of "credit risk" or the possibility that the Corporation will incur a loss because a counterparty, which may be a bank, a broker-dealer, a derivative clearing organization, or a customer, fails to meet its contractual obligations. This risk is measured as the expected positive replacement value of contracts. All derivative contracts may be executed only with exchanges or counterparties approved by the Corporation's Board of Directors. Where contracts have been created for customers, the Corporation enters into derivatives with dealers to offset its risk exposure. To manage the credit exposure to exchanges and counterparties, the Corporation generally enters into bilateral collateral agreements with collateral delivery thresholds on all bilateral derivatives. Beyond the threshold levels, collateral in the form of securities made available from the investment portfolio or other forms of collateral acceptable under the bilateral collateral agreements are provided. The threshold levels for each counterparty are approved by the Corporation's Board of Directors. The Corporation generally posts collateral in the form of highly rated Government Agency issued bonds or MBS. The majority of the Corporation's over-the-counter derivative transactions are cleared through a recognized derivative clearing organization ("Clearinghouse"). For cleared derivatives, the Clearinghouse is the Corporation's counterparty. The Clearinghouse notifies the clearing agent of the required initial and variation margin and the clearing agent notifies the Corporation of the required initial and variation margin. The requirement that the Corporation post initial and variation margin through the clearing agent to the Clearinghouse exposes the Corporation to institutional credit risk if the clearing agent or the Clearinghouse fails to meet its obligations. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties and collateral is posted daily through a clearing agent for changes in the value of cleared derivatives. The fair value of investment securities posted as collateral against derivative liabilities was $55.9 million , $47.2 million , and $45.6 million as of June 30, 2016 , December 31, 2015 , and June 30, 2015 , respectively. Derivative assets and liabilities are recorded at fair value on the balance sheet and do not take into account the effects of master netting agreements the Corporation has with its financial institution counterparties. These master netting agreements allow the Corporation to settle all derivative contracts held with a single financial institution counterparty on a net basis, and to offset net derivative positions with related collateral, where applicable. Collateral, usually in the form of investment securities, is posted by the counterparty in the net liability position in accordance with contract thresholds. The following tables illustrate the potential effect of the Corporation's derivative master netting arrangements, by type of financial instrument, on the Corporation's statement of financial position as of June 30, 2016 , December 31, 2015 , and June 30, 2015 . The swap agreements the Corporation has in place with its commercial customers are not subject to enforceable master netting arrangements, and, therefore, are excluded from these tables. As of June 30, 2016 Gross amounts recognized Gross amounts offset in the consolidated balance sheet Net amounts presented in the consolidated balance sheet Gross amounts not offset in the consolidated balance sheet Net amount (In thousands) Financial instruments (1) Collateral (2) Derivative Assets Interest rate swaps - designated $ 29,760 $ — $ 29,760 $ — $ — $ 29,760 Interest rate swaps - non-designated 3 $ — 3 (3 ) — — Foreign exchange 76 — 76 (76 ) — — Total derivative assets $ 29,839 $ — $ 29,839 $ (79 ) $ — $ 29,760 Derivative liabilities Interest rate swaps - designated $ 2,772 $ — $ 2,772 $ — $ (2,772 ) $ — Interest rate swaps - non-designated 87,572 — 87,572 (3 ) (87,569 ) — Foreign exchange 131 — 131 (76 ) (55 ) — Total derivative liabilities $ 90,475 $ — $ 90,475 $ (79 ) $ (90,396 ) $ — As of December 31, 2015 Gross amounts recognized Gross amounts offset in the consolidated balance sheet Net amounts presented in the consolidated balance sheet Gross amounts not offset in the consolidated balance sheet Net amount (In thousands) Financial instruments (1) Collateral (2) Derivative assets Interest rate swaps - designated $ 8,739 $ — $ 8,739 $ — $ — $ 8,739 Interest rate swaps - non-designated 155 — 155 (155 ) — — Foreign exchange 270 — 270 (32 ) (238 ) — Total derivative assets $ 9,164 $ — $ 9,164 $ (187 ) $ (238 ) $ 8,739 Derivative liabilities Interest rate swaps - designated $ 3,536 $ — $ 3,536 $ — $ (3,536 ) $ — Interest rate swaps - non-designated 48,765 — 48,765 (155 ) (48,610 ) — Foreign exchange 32 — 32 (32 ) — — Total derivative liabilities $ 52,333 $ — $ 52,333 $ (187 ) $ (52,146 ) $ — As of June 30, 2015 Gross amounts recognized Gross amounts offset in the consolidated balance sheet Net amounts presented in the consolidated balance sheet Gross amounts not offset in the consolidated balance sheet Net amount (In thousands) Financial instruments (1) Collateral (2) Derivative assets Interest rate swaps - designated 1,153 — 1,153 — — 1,153 Interest rate swaps - non-designated $ 414 $ — $ 414 $ (414 ) $ — $ — Foreign exchange 164 — 164 (49 ) (115 ) — Total derivative assets $ 1,731 $ — $ 1,731 $ (463 ) $ (115 ) $ 1,153 Derivative liabilities Interest rate swaps - designated $ 5,104 $ — $ 5,104 $ — $ (5,104 ) $ — Interest rate swaps - non-designated 45,802 — 45,802 (414 ) (45,388 ) — Foreign exchange 49 — 49 (49 ) — — Total derivative liabilities $ 50,955 $ — $ 50,955 $ (463 ) $ (50,492 ) $ — (1) For derivative assets, this includes any derivative liability fair values that could be offset in the event of counterparty default. For derivative liabilities, this includes any derivative asset fair values that could be offset in the event of counterparty default. (2) For derivate assets, this includes the fair value of collateral received by the Corporation from the counterparty. Securities received as collateral are not included in the Consolidated Balance Sheets unless the counterparty defaults. For derivative liabilities, this includes the fair value of securities pledged by the Corporation to the counterparty. These securities are included in the Consolidated Balance Sheets unless the Corporation defaults. |
Benefit Plans
Benefit Plans | 6 Months Ended |
Jun. 30, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Benefit Plans | Benefit Plans The Corporation sponsors several qualified and nonqualified pension and other postretirement plans for certain of its employees. The net periodic pension cost is based on estimated values provided by an outside actuary. The components of net periodic benefit cost are as follows: Pension Benefits Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Service cost $ 198 $ 207 $ 396 $ 415 Interest cost 3,649 3,517 7,298 7,035 Expected return on assets (3,788 ) (3,902 ) (7,576 ) (7,804 ) Amortization of unrecognized prior service costs 75 570 150 1,140 Amortization of actuarial losses/(gains) 830 1,057 1,660 2,113 Net periodic pension cost $ 964 $ 1,449 $ 1,928 $ 2,899 Postretirement Benefits Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Service cost $ 26 $ 41 $ 52 $ 83 Interest cost 64 144 127 288 Amortization of unrecognized prior service costs (636 ) (160 ) (1,271 ) (319 ) Amortization of actuarial losses/(gains) 245 81 490 163 Net periodic postretirement cost $ (301 ) $ 106 $ (602 ) $ 215 For further information on the Corporation's employee benefit plans, refer to Note 13 (Benefit Plans) to the consolidated financial statements in the 2015 Form 10-K. |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Fair Value Measurement As defined in ASC 820, Fair Value Measurements and Disclosures , fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between market participants in the principal market or most advantageous market for the asset or liability. Fair value is based on quoted market prices, when available, for identical or similar assets or liabilities. In the absence of quoted market prices, Management determines the fair value of the Corporation's assets and liabilities using valuation models or third-party pricing services. Both of these approaches rely on market-based parameters when available, such as interest rate yield curves, option volatilities and credit spreads, or unobservable inputs. Unobservable inputs may be based on Management's judgment, assumptions and estimates related to credit quality, liquidity, interest rates and other relevant inputs. GAAP establishes a three-level valuation hierarchy for determining fair value that is based on the transparency of the inputs used in the valuation process. The inputs used in determining fair value in each of the three levels of the hierarchy, highest ranking to lowest, are as follows: • Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. • Level 2 — Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Significant unobservable inputs that reflect a company's own assumptions about the assumptions that market participants would use in pricing an asset or liability. The level in the fair value hierarchy ascribed to a fair value measurement in its entirety is based on the lowest level input that is significant to the overall fair value measurement. Valuation adjustments, such as those pertaining to counterparty and the Corporation's own credit quality and liquidity, may be necessary to ensure that assets and liabilities are recorded at fair value. Credit valuation adjustments are made when market pricing does not accurately reflect the counterparty's credit quality. As determined by Management, liquidity valuation adjustments may be made to the fair value of certain assets to reflect the uncertainty in the pricing and trading of the instruments when Management is unable to observe recent market transactions for identical or similar instruments. Liquidity valuation adjustments are based on the following factors: • the amount of time since the last relevant valuation; • whether there is an actual trade or relevant external quote available at the measurement date; and • volatility associated with the primary pricing components. Management ensures that fair value measurements are accurate and appropriate by relying upon various controls, including: • an independent review and approval of valuation models; • recurring detailed reviews of profit and loss; and • a validation of valuation model components against benchmark data and similar products, where possible. Management reviews any changes to its valuation methodologies to ensure they are appropriate and justified, and refines valuation methodologies as more market-based data becomes available. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. Additional information regarding the Corporation's accounting policies for determining fair value is provided in Note 1 ( Summary of Significant Accounting Policies ) under the heading "Fair Value Measurements". The following tables present the balance of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of June 30, 2016 , December 31, 2015 , and June 30, 2015 : Fair Value by Hierarchy (In thousands) June 30, 2016 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,788 $ 2,788 $ — $ — U.S. treasury notes & bonds 4,997 — 4,997 — U.S. government agency debentures 2,528 — 2,528 — U.S. States and political subdivisions 151,547 — 151,547 — Residential mortgage-backed securities: U.S. government agencies 860,247 — 860,247 — Commercial mortgage-backed securities: U.S. government agencies 202,048 — 202,048 — Residential collateralized mortgage-backed securities: U.S. government agencies 2,353,018 — 2,353,018 — Non-agency 3 — — 3 Commercial collateralized mortgage-backed securities: U.S. government agencies 398,611 — 398,611 — Corporate debt securities 51,107 — — 51,107 Asset-backed securities: Collateralized loan obligations 291,794 — — 291,794 Total available for sale securities 4,318,688 2,788 3,972,996 342,904 Residential loans held for sale 3,962 — 3,962 — Derivative assets: Interest rate swaps - fair value hedges 29,760 — 29,760 — Interest rate swaps - nondesignated 87,575 — 87,575 — Mortgage loan commitments 253 — 253 — Foreign exchange 254 — 254 — Total derivative assets 117,842 — 117,842 — Total fair value of assets (1) $ 4,440,492 $ 2,788 $ 4,094,800 $ 342,904 Derivative liabilities: Interest rate swaps - fair value hedges $ 2,772 $ — $ 2,772 $ — Interest rate swaps - nondesignated 87,575 — 87,575 — Forward sales contracts 61 — 61 — Credit contracts 7 — 7 — Foreign exchange 207 — 207 — Total derivative liabilities 90,622 — 90,622 — True-up liability 16,170 — — 16,170 Total fair value of liabilities (1) $ 106,792 $ — $ 90,622 $ 16,170 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 15,954 $ — $ — $ 15,954 Impaired loans (3) 104,208 — — 104,208 Other property (4) 10,027 — — 10,027 Other real estate covered by loss share (5) 4 — — 4 Total nonrecurring fair value $ 130,193 $ — $ — $ 130,193 (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the three months ended June 30, 2016 . (2) MSRs with a recorded investment of $17.3 million were reduced by a specific valuation allowance totaling $1.5 million to a reported carrying value of $15.8 million resulting in recognition of $0.7 million in expense included in loan sales and servicing income in the three months ended June 30, 2016 . (3) At June 30, 2016 , collateral dependent impaired loans with a recorded investment of $116.1 million were reduced by specific valuation allowance allocations totaling $11.9 million to a reported net carrying value of $104.2 million . (4) Amounts do not include assets held at cost at June 30, 2016 . During the three months ended June 30, 2016 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.7 million included in noninterest expense. Fair Value by Hierarchy (In thousands) December 31, 2015 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,821 $ 2,821 $ — $ — U.S treasury notes & bonds 5,000 — 5,000 — U.S. government agency debentures 2,498 — 2,498 — U.S. States and political subdivisions 192,795 — 192,795 — Residential mortgage-backed securities: U.S. government agencies 906,229 — 906,229 — Commercial mortgage-backed securities: U.S. government agencies 172,109 — 172,109 — Residential collateralized mortgage-backed securities: U.S. government agencies 2,128,320 — 2,128,320 — Non-agency 4 — — 4 Commercial collateralized mortgage-backed securities: U.S. government agencies 216,319 — 216,319 — Corporate debt securities 52,229 — — 52,229 Asset-backed securities Collateralized loan obligations 289,411 — — 289,411 Total available-for-sale securities 3,967,735 2,821 3,623,270 341,644 Residential loans held for sale 5,472 — 5,472 — Derivative assets: Interest rate swaps - fair value hedges 8,739 — 8,739 — Interest rate swaps - nondesignated 48,920 — 48,920 — Mortgage loan commitments 149 — 149 — Foreign exchange 299 — 299 — Total derivative assets 58,107 — 58,107 — Total fair value of assets (1) $ 4,031,314 $ 2,821 $ 3,686,849 $ 341,644 Derivative liabilities: Interest rate swaps - fair value hedges $ 3,536 $ — $ 3,536 $ — Interest rate swaps - nondesignated 48,920 — 48,920 — Forward sale contracts 5 — 5 — Foreign exchange 284 — 284 — Total derivative liabilities 52,745 — 52,745 — True-up liability 14,750 — — 14,750 Total fair value of liabilities (1) $ 67,495 $ — $ 52,745 $ 14,750 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 19,149 $ — $ — $ 19,149 Impaired loans (3) 71,428 — — 71,428 Other property (4) 18,576 — — 18,576 Other real estate covered by loss share (5) 365 — — 365 Total nonrecurring fair value $ 109,518 $ — $ — $ 109,518 (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the year ended December 31, 2015 . (2) MSRs with a recorded investment of $18.9 million were reduced by a specific valuation allowance totaling $0.4 million to a reported carrying value of $18.5 million resulting in a recovery of previously recognized expense of $0.6 million in recoveries included in loans sales and servicing income in the year ended December 31, 2015 . (3) At December 31, 2015 , collateral dependent impaired loans with a recorded investment of $84.3 million were reduced by specific valuation allowance allocations totaling $12.9 million to a reported net carrying value of $71.4 million . (4) Amounts do not include assets held at cost at December 31, 2015 . During the year ended December 31, 2015 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $4.5 million included in noninterest expense. (5) Amounts do not include assets held at cost at December 31, 2015 . During the year ended December 31, 2015 , the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.6 million included in noninterest expense. Fair Value by Hierarchy (In thousands) June 30, 2015 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,824 $ 2,824 $ — $ — U.S. treasury notes & bonds 5,005 — 5,005 — U.S. government agency debentures 2,510 — 2,510 — U.S. States and political subdivisions 207,617 — 207,617 — Residential mortgage-backed securities: U.S. government agencies 960,852 — 960,852 — Commercial mortgage-backed securities: U.S. government agencies 170,338 — 170,338 — Residential collateralized mortgage-backed securities: U.S. government agencies 1,949,389 — 1,949,389 — Non-agency 5 — — 5 Commercial collateralized mortgage-backed securities: U.S. government agencies 228,438 — 228,438 — Corporate debt securities 53,450 — — 53,450 Asset-backed securities: Collateralized loan obligations 258,081 — — 258,081 Total available-for-sale securities 3,838,509 2,824 3,524,149 311,536 Residential loans held for sale 5,432 — 5,432 — Derivative assets: Interest rate swaps - fair value hedges 1,153 — 1,153 — Interest rate swaps - nondesignated 46,216 — 46,216 — Mortgage loan commitments 342 — 342 — Forward sale contracts 106 — 106 — Foreign exchange 256 — 256 — Total derivative assets 48,073 — 48,073 — Total fair value of assets (1) $ 3,892,014 $ 2,824 $ 3,577,654 $ 311,536 Derivative liabilities: Interest rate swaps - fair value hedges $ 5,104 $ — $ 5,104 $ — Interest rate swaps - nondesignated 46,216 — 46,216 — Foreign exchange 177 — 177 — Total derivative liabilities 51,497 — 51,497 — True-up liability 13,408 — — 13,408 Total fair value of liabilities (1) $ 64,905 $ — $ 51,497 $ 13,408 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 20,809 $ — $ — $ 20,809 Impaired loans (3) 72,580 — — 72,580 Other property (4) 33,078 — — 33,078 Other real estate covered by loss share (5) 4 — — 4 Total nonrecurring fair value $ 126,471 $ — $ — $ 126,471 (1) There were no transfers between levels 1, 2 and 3 of the fair value hierarchy during the three months ended June 30, 2015 . (2) MSRs with a recorded investment of $20.6 million were reduced by a specific valuation allowance totaling $0.5 million to a reported carrying value of $20.1 million resulting in recovery of a previously recognized expense of $0.6 million in the three months ended June 30, 2015 . (3) At June 30, 2015 , collateral dependent impaired loans with a recorded investment of $82.7 million were reduced by specific valuation allowance allocations totaling $10.2 million to a reported net carrying value of $72.6 million . (4) Amounts do not include assets held at cost at June 30, 2015 . During the three months ended June 30, 2015 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $2.1 million included in noninterest expense. (5) Amounts do not include assets held at cost at June 30, 2015 . During the three months ended June 30, 2015 , the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.2 million included in noninterest expense. The following section describes the valuation methodologies used by the Corporation to measure financial assets and liabilities at fair value. During the three months ended June 30, 2016 and 2015 , there were no significant changes to the valuation techniques used by the Corporation to measure fair value. Available-for-sale securities. When quoted prices are available in an active market, securities are valued using the quoted price and are classified as Level 1. The quoted prices are not adjusted. Level 1 instruments include money market mutual funds. Securities are classified as Level 2 if quoted prices for identical securities are not available, and fair value is determined using pricing models by a third-party pricing service. Approximately 92% of the available-for-sale portfolio is Level 2. For the majority of available-for sale securities, the Corporation obtains fair value measurements from an independent third party pricing service. These instruments include: municipal bonds; bonds backed by the U.S. government; corporate bonds; MBS; securities issued by the U.S. Treasury; and certain agency CMOs. The independent pricing service uses industry-standard models to price U.S. government agencies and MBS that consider various assumptions, including time value, yield curves, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Obligations of state and political subdivisions are valued using a matrix, or grid, pricing in which securities are benchmarked against the treasury rate based on credit rating. For collateralized mortgage securities, depending on the characteristics of a given tranche, a volatility driven multidimensional static model or Option-Adjusted Spread model is generally used. Substantially all assumptions used by the independent pricing service for securities classified as Level 2 are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. Securities are classified as Level 3 when there is limited activity in the market for a particular instrument and fair value is determined by obtaining broker quotes. As of June 30, 2016 , 8% of the available-for-sale portfolio is Level 3, which consists of single issuer trust preferred securities and CLOs. The single issuer trust preferred securities are measured at unadjusted prices obtained from the independent pricing service. The independent pricing service prices these instruments through a broker quote when sufficient information, such as cash flows or other security structure or market information, is not available to produce an evaluation. Broker-quoted securities are adjusted by the independent pricing service based solely on the receipt of updated quotes from market makers or broker-dealers recognized as market participants. A list of such issues is compiled by the independent pricing service daily. For broker-quoted issues, the independent pricing service applies a zero spread relationship to the bid-side valuation, resulting in the same values for the mean and ask. CLO are securitized products where payments from multiple middle-sized and large business loans are pooled together and segregated into different classes of bonds with payments on these bonds based on their priority within the overall deal structure. The markets for such securities are generally characterized by low trading volumes and wide bid-ask spreads, all driven by more limited market participants. Although estimated prices are generally obtained for such securities, the level of market observable assumptions used is limited in the valuation. Specifically, market assumptions regarding credit adjusted cash flows and liquidity influences on discount rates were difficult to observe at the individual bond level. Accordingly, the securities are currently valued by a third party that primarily utilizes dealer or pricing service prices and, subsequently, verifies this pricing through a disciplined process to ensure proper valuations and to highlight differences in cash flow modeling or other risks to determine if the market perception of the risk of a CLO is beginning to deviate from other similar tranches. This is done by establishing ranges for appropriate pricing yields for each CLO tranche and, using a standardized cash flow scenario, ensuring yields are consistent with expectations. On a monthly basis, Management validates the pricing methodologies utilized by our independent pricing service to ensure the fair-value determination is consistent with the applicable accounting guidance and that the investments are properly classified in the fair value hierarchy. Management substantiates the fair values determined for a sample of securities held in portfolio by reviewing the key assumptions used by the independent pricing service to value the securities and comparing the fair values to prices from other independent sources for the same and similar securities. Management analyzes variances and conducts additional research with the independent pricing service, if necessary, and takes appropriate action based on its findings. Loans held for sale. These loans are regularly traded in active markets through programs offered by FHLMC and FNMA, and observable pricing information is available from market participants. The prices are adjusted as necessary to include any embedded servicing value in the loans and to take into consideration the specific characteristics of certain loans. These adjustments represent unobservable inputs to the valuation but are not considered significant to the fair value of the loans. Accordingly, residential real estate loans held for sale are classified as Level 2. Impaired loans. Certain impaired collateral dependent loans are reported at fair value less costs to sell the collateral. Collateral values are estimated using Level 3 inputs, consisting of third-party appraisals or price opinions and internal adjustments necessary in the judgment of Management to reflect current market conditions and current operating results for the specific collateral. Collateral may be in the form of real estate or personal property including equipment and inventory. The vast majority of the collateral is real estate. When impaired collateral dependent loans are individually re-measured and reported at fair value of the collateral, less costs to sell, a direct loan charge-off to the ALL and/or a specific valuation allowance allocation is recorded. Other Property. Certain other property which consists of foreclosed assets and properties securing residential and commercial loans, upon initial recognition and transfer from loans, are re-measured and reported at fair value less costs to sell to the property through a charge-off to the ALL based on the fair value of the foreclosed assets. The fair value of a foreclosed asset, upon initial recognition, is estimated using Level 3 inputs, consisting of third-party appraisals or price opinions and internal adjustments necessary in the judgment of Management to reflect current market conditions and current operating results for the specific collateral. Subsequent to foreclosure, valuations are updated periodically, and the assets may be written down further through a charge to noninterest expense. Mortgage Servicing Rights. The Corporation carries its MSRs at lower of cost or fair value, and, therefore, they are subject to fair value measurements on a nonrecurring basis. Since sales of MSRs tend to occur in private transactions and the precise terms and conditions of the sales are typically not readily available, there is a limited market to refer to in determining the fair value of MSRs. As such, like other participants in the mortgage banking business, the Corporation relies primarily on a discounted cash flow model, incorporating assumptions about loan prepayment rates, discount rates, servicing costs and other economic factors, to estimate the fair value of its mortgage servicing rights. Since the valuation model uses significant unobservable inputs, the Corporation classifies MSRs within Level 3. The Corporation utilizes a third-party vendor to perform the modeling to estimate the fair value of its MSRs. The Corporation reviews the estimated fair values and assumptions used by the third party in the model on a quarterly basis. The Corporation also compares the estimates of fair value and assumptions to recent market activity and against its own experience. See Note 11 ( Mortgage Servicing Rights and Mortgage Servicing Activity ) for further information on MSRs valuation assumptions. Derivatives. The Corporation's derivatives include interest rate swaps and written loan commitments and forward sales contracts related to residential mortgage loan origination activity. Valuations for interest rate swaps are derived from third-party models whose significant inputs are readily observable market parameters, primarily yield curves, with appropriate adjustments for liquidity and credit risk. These fair value measurements are classified as Level 2. The fair values of written loan commitments and forward sales contracts on the associated loans are based on quoted prices for similar loans in the secondary market, consistent with the valuation of residential mortgage loans held for sale. Expected net future cash flows related to loan servicing activities are included in the fair value measurement of written loan commitments. A written loan commitment does not bind the potential borrower to entering into the loan, nor does it guarantee that the Corporation will approve the potential borrower for the loan. Therefore, when determining fair value, the Corporation makes estimates of expected "fallout" (interest rate locked pipeline loans not expected to close), using models, which consider cumulative historical fallout rates and other factors. Fallout can occur for a variety of reasons including falling rate environments when a borrower will abandon a fixed rate loan commitment at one lender and enter into a new lower fixed rate loan commitment at another, when a borrower is not approved as an acceptable credit by the lender or for a variety of other non-economic reasons. Fallout is not a significant input to the fair value of the written loan commitments in their entirety. These measurements are classified as Level 2. Derivative assets are typically secured through securities with financial counterparties or cross collateralization with a borrowing customer. Derivative liabilities are typically secured through the Corporation pledging securities to financial counterparties or, in the case of a borrowing customer, by the right of setoff. The Corporation considers factors such as the likelihood of default by itself and its counterparties, right of setoff, and remaining maturities in determining the appropriate fair value adjustments. All derivative counterparties approved by the Bank's Board are regularly reviewed, and appropriate business action is taken to adjust the exposure to certain counterparties, as necessary. Counterparty exposure is evaluated by netting positions that are subject to master netting agreements, as well as considering the amount of marketable collateral securing the position. This approach used to estimate impacted exposures to counterparties is also used by the Corporation to estimate its own credit risk on derivative liability positions. To date, no material losses have been incurred due to a counterparty's inability to pay any uncollateralized position. There was no significant change in value of derivative assets and liabilities attributed to credit risk for the three months ended June 30, 2016 . True-up liability. In connection with the George Washington and Midwest FDIC assisted acquisitions in 2010, the Bank has agreed to pay the FDIC should the estimated losses on the acquired loan portfolios as well as servicing fees earned on the acquired loan portfolios not meet thresholds as stated in the loss share agreements (the "true-up liability"). This contingent consideration is classified as a liability within accrued taxes, expenses and other liabilities on the consolidated balance sheets and is remeasured at fair value each reporting date until the contingency is resolved. The changes in fair value are recognized in earnings in the current period. An expected value methodology is used as a starting point for determining the fair value of the true-up liability based on the contractual terms prescribed in the loss share agreements. The resulting values under both calculations are discounted over 10 years (the period defined in the loss share agreements) to reflect the uncertainty in the timing and payment of the true-up liability by the Bank to arrive at a net present value. The discount rate used to value the true-up liability was 3.08% and 3.58% as of June 30, 2016 and 2015 , respectively. Increasing or decreasing the discount rate by one percentage point would change the liability by approximately $0.6 million and $0.6 million , respectively, as of June 30, 2016 . In accordance with the loss share agreements governing the Midwest acquisition, on July 15, 2020 (the “Midwest True-Up Measurement Date”), the Bank has agreed to pay to the FDIC half of the amount, if positive, calculated as: (1) 20% of the intrinsic loss estimate of the FDIC (approximately $152 million ); minus (2) the sum of (A) 25% of the asset premium paid in connection with the Midwest acquisition (approximately $21 million ); plus (B) 25% of the cumulative shared-loss payments (as defined below) plus (C) the cumulative servicing amount (as defined below). The fair value of the true-up liability associated with the Midwest acquisition was $10.5 million , $9.3 million , and $8.4 million as of June 30, 2016 , December 31, 2015 , and June 30, 2015 , respectively. In accordance with the loss share agreements governing the George Washington acquisition, on April 14, 2020 (the “George Washington True-Up Measurement Date”), the Bank has agreed to pay to the FDIC 50% of the excess, if any, of (1) 20% of the stated threshold (approximately $34.4 million ) less (2) the sum of (A) 25% of the asset discount (approximately $12 million ) received in connection with the George Washington acquisition plus (B) 25% of the cumulative shared-loss payments (as defined below) plus (C) the cumulative servicing amount (as defined below). The fair value of the true-up liability associated with the George Washington acquisition was $5.7 million , $5.5 million , and $5.0 million as of June 30, 2016 , December 31, 2015 , and June 30, 2015 , respectively. For the purposes of the above calculations, cumulative shared-loss payments means: (i) the aggregate of all of the payments made or payable to the Bank under the loss share agreements minus (ii) the aggregate of all of the payments made or payable to the FDIC. The cumulative servicing amount means the period servicing amounts (as defined in the loss share agreements) for every consecutive twelve-month period prior to and ending on the Midwest and George Washington True-Up Measurement Dates. The cumulative loss share payments and cumulative service amounts are components of the true-up calculations and are estimated each period end based on the expected amount and timing of cash flows of the acquired loan portfolios. See Note 3 ( Loans ) and Note 4 ( Allowance for Loan Losses ) for additional information on the estimated cash flows of the acquired loan portfolios. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2016 and 2015 are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Available-for-sale securities True-up liability Available-for-sale securities True-up liability Available-for-sale securities True-up liability Available-for-sale securities True-up liability Balance at beginning of period $ 334,157 $ 15,115 $ 346,685 $ 13,707 $ 341,644 $ 14,750 $ 339,187 $ 13,294 (Gains) losses included in earnings (1) — 1,055 — (299 ) — 1,420 — 114 Unrealized gains (losses) (2) 8,926 — 4,561 — 1,370 — 11,697 — Purchases — — 41,509 — — — 41,509 — Sales — — (71,832 ) — — — (71,832 ) — Settlements (179 ) — (9,387 ) — (110 ) — (9,025 ) — Balance at ending of period $ 342,904 $ 16,170 $ 311,536 $ 13,408 $ 342,904 $ 16,170 $ 311,536 $ 13,408 (1) Reported in "Other expense" (2) Reported in "Other comprehensive income (loss)" Fair Value Option Residential mortgage loans held for sale are recorded at fair value under fair value option accounting guidance. The election of the fair value option aligns the accounting for these loans with the related hedges. It also eliminates the requirements of the hedge accounting under GAAP. Interest income on loans held for sale is accrued on the principal outstanding primarily using the “simple-interest” method. None of these loans were 90 days or more past due, nor were any on nonaccrual as of June 30, 2016 , December 31, 2015 , and June 30, 2015 . The aggregate fair value, contractual balance and gain or loss on loans held for sale was as follows: (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 Aggregate fair value carrying amount $ 3,962 $ 5,472 $ 5,432 Aggregate unpaid principal / contractual balance 3,836 5,320 5,285 Carrying amount over aggregate unpaid principal (1) $ 126 $ 152 $ 147 (1) These changes are included in "Loan sales and servicing income" in the Consolidated Statements of Income. Disclosures about Fair Value of Financial Instruments The carrying amount and estimated fair value of the Corporation’s financial instruments that are carried at either fair value or cost as of June 30, 2016 , December 31, 2015 , and June 30, 2015 are shown in the tables below. June 30, 2016 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 524,287 $ 524,287 $ 524,287 $ — $ — Available-for-sale securities 4,318,688 4,318,688 2,788 3,972,996 342,904 Held-to-maturity securities 2,514,161 2,545,740 — 2,545,740 — Other securities 148,367 148,367 — 148,367 — Loans held for sale 3,962 3,962 — 3,962 — Net originated loans 14,560,456 14,349,013 — — 14,349,013 Net acquired loans 1,484,380 1,532,344 — — 1,532,344 Net FDIC acquired loans and loss share receivable 149,121 149,121 — — 149,121 Accrued interest receivable 65,666 65,666 — 65,666 — Derivatives 117,842 117,842 — 117,842 — Financial liabilities: Deposits $ 20,952,643 $ 20,960,182 $ — $ 20,960,182 — Federal funds purchased and securities sold under agreements to repurchase 686,890 686,890 — 686,890 — Wholesale borrowings 468,447 473,187 — 473,187 — Long-term debt 526,389 522,151 — 522,151 — Accrued interest payable 10,632 10,632 — 10,632 — Derivatives 90,622 90,622 — 90,622 — December 31, 2015 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 463,817 $ 463,817 $ 463,817 $ — $ — Available-for-sale securities 3,967,735 3,967,735 2,821 3,623,270 341,644 Held-to-maturity securities 2,674,093 2,659,119 — 2,659,119 — Other securities 148,172 148,172 — 148,172 — Loans held for sale 5,472 5,472 — 5,472 — Net originated loans 14,013,370 13,795,058 — — 13,795,058 Net acquired loans 1,739,194 1,796,314 — — 1,796,314 Net FDIC acquired loans and loss share receivable 170,690 170,690 — — 170,690 Accrued interest receivable 67,887 67,887 — 67,887 |
Mortgage Servicing Rights and M
Mortgage Servicing Rights and Mortgage Servicing Activity | 6 Months Ended |
Jun. 30, 2016 | |
Transfers and Servicing [Abstract] | |
Mortgage Servicing Rights and Mortgage Servicing Activity | Mortgage Servicing Rights and Mortgage Servicing Activity In the six months ended June 30, 2016 and 2015 , the Corporation sold residential mortgage loans from the held for sale portfolio with unpaid principal balances of $15.6 million and $59.7 million , respectively, and recognized pretax gains of $0.4 million and $0.8 million , respectively, which are included as a component of loan sales and servicing income. As of June 30, 2016 and 2015 , the Corporation retained the related MSRs, for which it receives servicing fees, on $6.9 million and $51.1 million , respectively, of the loans sold. The Corporation serviced for third parties approximately $2.2 billion of residential mortgage loans at June 30, 2016 and $2.5 billion at June 30, 2015 . Loan servicing fees, not including valuation changes included in loan sales and servicing income, were $1.4 million and $1.6 million , respectively, for the six months ended June 30, 2016 and 2015 . Servicing rights are presented within other assets on the accompanying Consolidated Balance Sheets. The retained servicing rights are initially valued at fair value. Since MSRs do not trade in an active market with readily observable prices, the Corporation relies primarily on a discounted cash flow analysis model to estimate the fair value of its MSRs. Additional information can be found in Note 10 ( Fair Value Measurement ). MSRs are subsequently measured using the amortization method. Accordingly, the MSRs are amortized over the period of, and in proportion to, the estimated net servicing income and is recorded in loan sales and servicing income. Changes in the carrying amount of MSRs and MSRs valuation allowance are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Carrying amount of MSRs Beginning balance $ 18,127 $ 21,490 $ 18,938 $ 22,011 Additions 32 63 60 533 Amortization (849 ) (918 ) (1,688 ) (1,909 ) Ending balance 17,310 20,635 17,310 20,635 Valuation Allowance: Beginning balance (868 ) (1,131 ) (399 ) (955 ) Recoveries/(Additions) (681 ) 641 (1,150 ) 465 Ending balance (1,549 ) (490 ) (1,549 ) (490 ) MSRs, net carrying balance $ 15,761 $ 20,145 $ 15,761 $ 20,145 Fair value at end of period $ 15,954 $ 20,809 $ 15,954 $ 20,809 On a quarterly basis, the Corporation assesses its capitalized servicing rights for impairment based on their current fair value. For purposes of the impairment, the servicing rights are disaggregated based on loan type and interest rate which are the predominant risk characteristics of the underlying loans. A valuation allowance is established through a charge to earnings to the extent the amortized cost of the MSRs exceeds the estimated fair value by stratification. If it is later determined that all or a portion of the temporary impairment no longer exists for the stratification, the valuation is reduced through a recovery to earnings. No permanent impairment losses were written off against the allowance during the three and six months ended June 30, 2016 and 2015 . Key economic assumptions and the sensitivity of the current fair value of the MSRs related to immediate 10% and 25% adverse changes in those assumptions at June 30, 2016 are presented in the following table below. These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in the fair value based on 10% variation in the prepayment speed assumption generally cannot be extrapolated because the relationship of the change in the prepayment speed assumption to the change in fair value may not be linear. Also, in the below table, the effect of a variation in the discount rate assumption on the fair value of the MSRs is calculated independently without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, changes in prepayment speed estimates could result in changes in the discount rates), which might magnify or counteract the sensitivities. (Dollars in thousands) Prepayment speed assumption (annual CPR) 13.41 % Decrease in fair value from 10% adverse change $ 964 Decrease in fair value from 25% adverse change $ 1,242 Discount rate assumption 9.39 % Decrease in fair value from 100 basis point adverse change $ 463 Decrease in fair value from 200 basis point adverse change $ 898 Expected weighted-average life (in months) 85 |
Contingencies and Guarantees
Contingencies and Guarantees | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies and Guarantees | Commitments and Guarantees Commitments to Extend Credit Commitments to extend credit are agreements to lend to a customer provided there is no violation of any condition established in the contract. Loan commitments to originate residential mortgage loans held for sale and forward commitments to sell residential mortgage loans are considered derivative instruments, and the fair value of these commitments is recorded on the consolidated balance sheets. Additional information is provided in Note 10 (Fair Value Measurement). Commitments generally are extended at the then-prevailing interest rates, have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Loan commitments involve credit risk not reflected on the balance sheet. The Corporation mitigates exposure to credit risk with internal controls that guide how applications for credit are reviewed and approved, how credit limits are established and, when necessary, how demands for collateral are made. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. Management evaluates the creditworthiness of each prospective borrower on a case-by-case basis and, when appropriate, adjusts the allowance for probable credit losses inherent in all commitments. The reserve for unfunded lending commitments at June 30, 2016 , December 31, 2015 , and June 30, 2015 , included in “accrued expenses and other liabilities” on the Consolidated Balance Sheets, was $4.1 million , $4.1 million , and $3.9 million , respectively. The Corporation's credit risk associated with these instruments is represented by the contractual amounts indicated in the following table. Unused commitments to extend credit (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 Commercial $ 3,505,383 $ 3,992,089 $ 3,746,824 Consumer 2,508,315 2,393,058 2,397,353 Total unused commitments to extend credit $ 6,013,698 $ 6,385,147 $ 6,144,177 Unused Commitments to Extend Credit. Commitments to extend credit are legally binding agreements to lend to a customer, provided there is no violation of any condition established in the contract. These commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. Since many commitments expire without being drawn upon, the total contractual amount of commitments does not necessarily represent future cash requirements of the Corporation. Loan commitments to originate residential mortgage loans held for sale and forward commitments to sell residential mortgage loans are considered derivative instruments, and the fair value of these commitments is recorded on the consolidated balance sheets. Additional information is provided in Note 8 ( Derivatives and Hedging Activities ). Guarantees The Corporation is a guarantor in certain agreements with third parties. The Corporation's maximum credit risk associated with these instruments is represented by the contractual amounts indicated in the following table. Financial guarantees (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 Standby letters of credit $ 220,913 $ 254,703 $ 255,418 Loans sold with recourse 11,543 12,902 28,891 Total financial guarantees $ 232,456 $ 267,605 $ 284,309 Standby Letters of Credit. Standby letters of credit obligate the Corporation to pay a specified third party when a customer fails to repay an outstanding loan or debt instrument, or fails to perform some contractual nonfinancial obligation. The Corporation has recourse against the customer for any amount required to be paid to a third party under a standby letter of credit. Collateral held varies, but may include marketable securities, equipment, inventory, and real estate. Except for short-term guarantees of $106.8 million at June 30, 2016 , the remaining guarantees extend in varying amounts through 2024 . Loans Sold with Recourse. The Corporation regularly sells service retained residential mortgage loans to GSEs as part of its mortgage banking activities. The Corporation provides customary representation and warranties to the GSEs in conjunction with these sales. These representations and warranties generally require the Corporation to repurchase assets if it is subsequently determined that a loan did not meet specified criteria, such as a documentation deficiency or rescission of mortgage insurance. If the Corporation is unable to cure or refute a repurchase request, the Corporation is generally obligated to repurchase the loan or otherwise reimburse the counterparty for losses. The Corporation also sells service released residential mortgage loans to other investors which contain early payment default recourse provisions. As of June 30, 2016 , December 31, 2015 , and June 30, 2015 , the Corporation had sold $9.1 million , $10.1 million , and $22.2 million , respectively, of outstanding residential mortgage loans to GSEs and other investors with recourse provisions. The Corporation had reserved $2.6 million , $2.7 million , and $6.7 million as of June 30, 2016 , December 31, 2015 , and June 30, 2015 , respectively, for estimated losses from representation and warranty obligations and early payment default recourse provisions. The reserve associated with loans sold with recourse is included in accrued taxes, expenses and other liabilities on the Consolidated Balance Sheets. The Corporation's reserve reflects Management's best estimate of losses. The Corporation's reserving methodology uses current information about investor repurchase requests, and assumptions about repurchase mix and loss severity, based upon the Corporation's most recent loss trends. The Corporation also considers qualitative factors that may result in anticipated losses differing from historical loss trends, such as loan vintage, underwriting characteristics and macroeconomic trends. Changes in the repurchase reserves for the three and six months ended June 30, 2016 and 2015 are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of period $ 2,625 $ 6,650 $ 2,725 $ 7,250 Net increase/(decrease) to reserve — 363 (53 ) (39 ) Net realized (losses)/gains — (363 ) (47 ) (561 ) Balance at end of period $ 2,625 $ 6,650 $ 2,625 $ 6,650 Litigation In the normal course of business, the Corporation and its subsidiaries are at all times subject to pending and threatened legal actions, some for which the relief or damages sought are substantial. Based on information currently available, consultation with counsel, available insurance coverage and established reserves, Management believes that the eventual outcome of all claims against the Corporation and its subsidiaries will not, individually or in the aggregate, have a material adverse effect on its consolidated financial position or results of operations. However, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to the results of operations for a particular period. The Corporation has not established any reserves with respect to any of this disclosed litigation because it is not possible to determine (i) whether a liability has been incurred; or (ii) an estimate of the ultimate or minimum amount of such liability. Reserves are established for legal claims only when losses associated with the claims are judged to be probable, and the loss can be reasonably estimated. In many lawsuits and arbitrations, including almost all of the class action lawsuits, it is not possible to determine whether a liability will be incurred or to estimate the ultimate or minimum amount of that liability until the case is close to resolution, in which case a reserve will not be recognized until that time. Overdraft Litigation Commencing in December 2010, two separate lawsuits were filed in the Summit County Court of Common Pleas and the Lake County Court of Common Pleas against the Corporation and the Bank. The complaints were brought as putative class actions on behalf of Ohio residents who maintained a checking account at the Bank and who incurred one or more overdraft fees as a result of the alleged re-sequencing of debit transactions. The lawsuit that had been filed in Summit County Court of Common Pleas was dismissed without prejudice on July 11, 2011. The remaining suit in Lake County seeks actual damages, disgorgement of overdraft fees, punitive damages, interest, injunctive relief and attorney fees. In December 2012, the trial court issued an order certifying a proposed class and the Bank and Corporation appealed the order to the Eleventh District Court of Appeals. In September 2013, the Eleventh District Court of Appeals affirmed in part and reversed in part the trial court's class certification order, and remanded the case back to the trial court for further consideration, in particular with respect to the class definition. On October 9, 2013, the Bank and Corporation filed with the Eleventh District Court of Appeals an application for reconsideration and application for consideration en banc. On November 20, 2013, the Eleventh District denied those applications. On December 4, 2013, the Bank and Corporation filed a notice of appeal with the Ohio Supreme Court, and on January 3, 2014, they filed with the Ohio Supreme Court a memorandum in support of the Court's exercising its jurisdiction and accepting the appeal. The plaintiffs filed an opposition, and, on April 24, 2014, the Ohio Supreme Court declined to accept jurisdiction. On August 6, 2014, the Bank and Corporation filed a motion asking the trial court to stay the lawsuit pending arbitration of claims subject to an arbitration agreement. That motion has been fully briefed and is awaiting a decision by the court. On August 25, 2014, the parties stipulated to a revised class definition (without affecting the pending motion to stay). An order approving the stipulated revised class was entered on June 3, 2016. CRBC 401(k) Litigation Participants in the Citizens Republic Bancorp 401(k) Plan filed a lawsuit in the United States Court for the Eastern District of Michigan in 2011, alleging that Citizens and certain of its officers and directors violated the Employee Retirement Income Security Act by offering Citizens common stock as an investment alternative in the Plan during periods when it was imprudent to do so and by failing to adequately monitor fiduciaries responsible for administering the Plan. The lawsuit, captioned Kidd v. Citizens Republic Bancorp, Inc. et al. , Case No. 2:11-cv-11709, asserts claims for monetary and injunctive relief on behalf of a purported class of participants and beneficiaries in the Plan who held Citizens stock in their Plan accounts during the period from April 17, 2008 to "the present." The plaintiffs filed a third amended complaint in November 2015, and the defendants have filed a motion that the complaint be dismissed. Defendant’s Motion to Dismiss was granted by Court on May 29, 2016. Plaintiffs have filed a Notice of Appeal and the appellate court has scheduled a mediation conference for August 15, 2016. Merger litigation Five putative derivative and class action lawsuits have been filed by separate shareholders of FirstMerit Corporation (“FirstMerit”) relating to the proposed merger between Huntington Bancshares, Inc. (“Huntington”) and FirstMerit. Two of those lawsuits were filed in the Summit County Common Pleas Court, Ohio: W. Patrick Murray v. Huntington Bancshares Incorporated , Case No. CV-2016-02-0917, was filed on February 11, 2016; and The Robinson Family Trust v. Paul Greig , Case No. CV-2016-02-0981, was filed on February 17, 2016 (the “State Court Lawsuits”). On April 14, 2016, the State Court Lawsuits were consolidated. The State Court Lawsuits consolidated complaint alleges that the individual directors of FirstMerit breached their fiduciary duties by approving a proposed merger that allegedly undervalues FirstMerit, allegedly provides the directors with benefits not afforded FirstMerit shareholders, and allegedly includes deal protection devices to ensure that the proposed merger will be consummated. The consolidated complaint also alleges that the directors approved a Registration Statement on S-4, filed on March 4, 2016, (the “Registration Statement”) that omits material information about the proposed merger. It also alleges that Huntington aided and abetted the alleged breaches of fiduciary duty. It seeks declaratory and injunctive relief to prevent the consummation of the proposed merger, an award of fees and costs, and other equitable relief. The other three lawsuits were filed in the United States District Court for the Northern District of Ohio: Wojno v. FirstMerit Corp. , Case No. 5:16-cv-461, was filed on February 26, 2016; Wilkinson v. FirstMerit Corp. , Case No. 5:16-cv-723, was filed on March 23, 2016; and Hafner v. Greig , Case No 5:16-cv-762, was filed on March 28, 2016 (the “Federal Court Lawsuits”). On April 8, 2016, the parties to the Federal Court Lawsuits filed a stipulation that, among other things, would consolidate the actions and designate a consolidated complaint. The Motion to Consolidate was granted on May 9, 2016. The stipulation remains pending. Each complaint in the Federal Court Lawsuits makes similar allegations to the State Court Lawsuits consolidated complaint, and also alleges that the directors violated Sections 14(a) and 20(a) of the Securities Exchange of 1934 and Rule 14a-9 promulgated thereunder by approving the Registration Statement. The Hafner complaint also alleges that Huntington violated Section 20(a) of the Securities Exchange Act in connection with the Registration Statement. Each complaint in the Federal Court Lawsuits seeks similar relief to the State Court Lawsuits consolidated complaint. On April 13, 2016, the defendants in the State Court Lawsuits filed a motion to stay the State Court Lawsuits pending the resolution of the parallel Federal Court Lawsuits. The judge in the State Court Lawsuits granted defendant’s motion to stay on May 20, 2016. All further action in the State Court cases is stayed pending resolution of the consolidated Federal Court action. On or about June 8, 2016 the parties to the Federal Court litigation filed with the court a Memorandum of Understanding notifying it that the parties have agreed to a preliminary settlement in full of the pending litigation. The agreement, in substance, requires defendants to make additional disclosures to SEC filings prior to shareholder votes scheduled for June 13, 2016. In good faith defendants made such agreed upon disclosures prior to the vote. The parties also agreed to conduct confirmatory discovery as part of the overall settlement agreement. The parties are currently finalizing the scope of the discovery and setting dates for limited document production and depositions. The Federal Court has stayed all further action in the case pending submission of a final proposed settlement agreement. |
Changes and Reclassifications O
Changes and Reclassifications Out of Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2016 | |
Changes and Reclassifications Out of Other Comprehensive Income [Abstract] | |
Changes and Reclassifications Out of Accumulated Other Comprehensive Income | Changes and Reclassifications Out of Accumulated Other Comprehensive Income The following table presents the changes in AOCI by component of comprehensive income for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended June 30, 2016 June 30, 2016 (In thousands) Pretax Tax After tax Pretax Tax After tax Unrealized and realized securities gains and losses: Balance at the beginning of the period $ 14,447 $ 1,682 $ 12,765 $ (32,786 ) $ (15,840 ) $ (16,946 ) Changes in unrealized securities' holding gains/(losses) 31,489 11,431 20,058 79,868 28,994 50,874 Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale into held-to-maturity (221 ) (79 ) (142 ) (1,072 ) (14 ) (1,058 ) Net losses/(gains) realized on sale of securities reclassified to noninterest income (2,164 ) (786 ) (1,378 ) (2,459 ) (892 ) (1,567 ) Balance at the end of the period 43,551 12,248 31,303 43,551 12,248 31,303 Pension plans and other postretirement benefits: Balance at the beginning of the period (93,852 ) (32,746 ) (61,106 ) (95,760 ) (33,432 ) (62,328 ) Amortization of actuarial losses/(gains) 1,076 390 686 3,244 1,163 2,081 Amortization of prior service cost reclassified to other noninterest expense (560 ) (204 ) (356 ) (820 ) (291 ) (529 ) Balance at the end of the period (93,336 ) (32,560 ) (60,776 ) (93,336 ) (32,560 ) (60,776 ) Total Accumulated Other Comprehensive Income $ (49,785 ) $ (20,312 ) $ (29,473 ) $ (49,785 ) $ (20,312 ) $ (29,473 ) Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (In thousands) Pretax Tax After tax Pretax Tax After tax Unrealized and realized securities gains and losses: Balance at the beginning of the period $ 24,728 $ 8,656 $ 16,072 $ (8,531 ) $ (2,985 ) $ (5,546 ) Changes in unrealized securities' holding gains/(losses) (28,642 ) (10,024 ) (18,618 ) 5,475 1,916 3,559 Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale into held-to-maturity (575 ) (203 ) (372 ) (1,079 ) (378 ) (701 ) Net losses/(gains) realized on sale of securities reclassified to noninterest income (567 ) (198 ) (369 ) (921 ) (322 ) (599 ) Balance at the end of the period (5,056 ) (1,769 ) (3,287 ) (5,056 ) (1,769 ) (3,287 ) Pension plans and other postretirement benefits: Balance at the beginning of the period (100,520 ) (35,181 ) (65,339 ) (102,068 ) (35,722 ) (66,346 ) Amortization of actuarial losses/(gains) 1,138 399 739 2,276 797 1,479 Amortization of prior service cost reclassified to other noninterest expense 410 144 266 820 287 533 Balance at the end of the period (98,972 ) (34,638 ) (64,334 ) (98,972 ) (34,638 ) (64,334 ) Total Accumulated Other Comprehensive Income $ (104,028 ) $ (36,407 ) $ (67,621 ) $ (104,028 ) $ (36,407 ) $ (67,621 ) The following table presents current period reclassifications out of AOCI by component of comprehensive income for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended Income statement line item presentation (In thousands) June 30, 2016 June 30, 2016 Realized (gains)/losses on sale of securities $ (2,164 ) $ (2,459 ) Investment securities losses (gains), net Tax expense (benefit) (36.3%) (786 ) (892 ) Income tax expense (benefit) Reclassified amount, net of tax $ (1,378 ) $ (1,567 ) Three Months Ended Six Months Ended Income statement line item presentation (In thousands) June 30, 2015 June 30, 2015 Realized (gains)/losses on sale of securities $ (567 ) $ (921 ) Investment securities losses (gains), net Tax expense (benefit) (35%) (198 ) (322 ) Income tax expense (benefit) Reclassified amount, net of tax $ (369 ) $ (599 ) |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events In preparing these financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all shareholders and other financial statement users, or filed with the SEC. In accordance with applicable accounting standards, all material subsequent events have been either recognized in the financial statements or disclosed in the notes to the financial statements. On July 8, 2016, the Corporation consummated the sale of four branches, located in Wisconsin, for a gain of approximately $1.2 million . As previously disclosed, on July 13, 2016, Huntington and FirstMerit have reached an agreement with the U.S. Department of Justice to divest 13 FirstMerit branches and associated assets, deposits and employees located in Ohio. |
Significant Accounting Polici23
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation - FirstMerit Corporation is a BHC whose principal asset is the Common Stock of its wholly-owned subsidiary, FirstMerit Bank, N. A. The Parent Company’s other subsidiaries include Citizens Savings Corporation of Stark County, FirstMerit Capital Trust I, and FirstMerit Risk Management, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. The accounting and reporting policies of the Corporation conform to GAAP and to general practices within the financial services industry. The Consolidated Balance Sheet at December 31, 2015 has been derived from the audited consolidated financial statements at that date. The accompanying unaudited interim financial statements reflect all adjustments (consisting only of normally recurring adjustments) that are, in the opinion of Management, necessary for a fair statement of the results for the interim periods presented. Certain reclassifications of prior year’s amounts have been made to conform to the current year presentation. Such reclassifications had no effect on net earnings or equity. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules of the SEC. The unaudited consolidated financial statements of the Corporation as of June 30, 2016 and 2015 are not necessarily indicative of the results that may be achieved for the full fiscal year or for any future period. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015 (the “ 2015 Form 10-K”). There have been no significant changes in the current quarter to the Corporation’s accounting policies as disclosed in the 2015 Form 10-K. In preparing these accompanying unaudited interim consolidated financial statements, subsequent events were evaluated through the time the consolidated financial statements were issued. |
Recently Adopted Accounting Standards | Recently Adopted Accounting Standards FASB ASU 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments. The amendments in ASU 2015-16 require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this update will be applied prospectively to adjustments to provisional amounts that occur after the effective date of this update with earlier application permitted for financial statements that have not been issued. The adoption of this guidance did not have a material effect on the Corporation's financial position or results of operations. FASB ASU 2015-5 , Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. In addition, the guidance in this update supersedes 350-40-25-16. Consequently, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets. The amendments are effective for public business entities for annual and interim periods within those annual periods, beginning after December 15, 2015. An entity can elect to adopt the amendments either (1) prospectively to all arrangements entered into or materially modified after the effective date or (2) retrospectively. For prospective transition, the only disclosure requirements at transition are the nature of and reason for the change in accounting principle, the transition method, and a qualitative description of the financial statement line items affected by the change. For retrospective transition, the disclosure requirements at transition include the requirements for prospective transition and quantitative information about the effects of the accounting change. The adoption of this guidance did not have a material effect on the Corporation's financial position or results of operations. FASB ASU 2015-2, Amendments to the Consolidation Analysis . The amendments in ASU 2015-02 affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. These amendments modify the current accounting guidance to address limited partnerships and similar entities, certain investments funds, fees paid to a decision maker or service provider, and the impact of fee arrangements and related parties on the primary beneficiary determination. The amendments are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. A reporting entity may apply the amendments using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. A reporting entity also may apply the amendments retrospectively. The adoption of this guidance did not have a material effect on the Corporation's financial position or results of operations. FASB ASU 2014–12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period — a consensus of the FASB Emerging Issues Task Force. The amendments in this update clarify that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU does not contain any new disclosure requirements. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. In addition, entities will have the option of applying the guidance either prospectively (i.e., only to awards granted or modified on or after the effective date) or retrospectively. Retrospective application would only apply to awards with performance targets outstanding at or after the beginning of the first annual period presented (i.e., the earliest presented comparative period). The adoption of this guidance did not have a material effect on the Corporation's financial position or results of operations. Recently Issued Accounting Standards ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments will require a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The amendments will also limit the amount of the allowance for credit losses to the amount by which fair value is below amortized cost because the classification as available for sale is premised on an investment strategy that recognizes that the investment could be sold at fair value, if cash collection would result in the realization of an amount less than fair value. The amendments require changes to presentational matters, such as presenting credit losses as an allowance rather than a write-down. The amendments in ASU 2016-13 retain many of the disclosure amendments in Accounting Standards Update No. 2010-20, Receivables (Topic 310): Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses, updated to reflect the change from an incurred loss methodology to an expected credit loss methodology. In addition, disclosures of credit quality indicators in relation to the amortized cost of financing receivables are further disaggregated by year of origination (or vintage). The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years for public business entities. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years using a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., a modified-retrospective approach) or a prospective transition approach for debt securities for which an other-than-temporary impairment had been recognized before the effective date. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients. This update amends the new revenue recognition guidance on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition. The amendments in this update clarify that, for a contract to be considered completed at transition, substantially all of the revenue must have been recognized under legacy GAAP. This update also includes a practical expedient to ease transition for contracts that were modified prior to adoption of the revenue standard under both the full and modified retrospective transition approaches. The amendments clarify how an entity should evaluate the collectibility threshold and when an entity can recognize nonrefundable consideration received as revenue if an arrangement does not meet the standard’s contract criteria. They also clarify that the fair value of noncash consideration should be measured at contract inception when determining the transaction price. The amendments also allow an entity to make an accounting policy election to exclude from the transaction price certain types of taxes collected from a customer if it discloses that policy. The effective date and transition requirements for this update are the same as those of the new standard. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. ASU 2016-11, Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2006 EITF Meeting (SEC Update) . The amendments in this update rescinds the following SEC Staff Observer comments that relate to narrow revenue recognition issues from ASC 605, Revenue Recognition , and ASC 932, Extractive Activities — Oil and Ga s, upon an entity’s adoption of ASC 606: Revenue and Expense Recognition for Freight Services in Process, Accounting for Shipping and Handling Fees and Costs, Accounting for Consideration Given by a Vendor to a Customer (including a Reseller of the Vendor’s Products), and Accounting for Gas Balancing Arrangements . The ASU also rescinds the SEC Staff Announcement: Determining the Nature of a Host Contract Related to a Hybrid Instrument Issued in the Form of a Share under Topic 815 , issued as EITF Topic D-109 and codified in ASC 815-10-S99-3, as of the effective date of ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity . The effective date and transition requirements for this update are the same as those of the new standard. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing . This update amends the new revenue recognition guidance on accounting for licenses of intellectual property and identifying performance obligations. The amendments clarify how an entity should evaluate the nature of its promise in granting a license of intellectual property, which will determine whether it recognizes revenue over time or a point in time. The amendments also clarify when a promised good or service is separately identifiable, that is distinct within the context of the contract, and allow entities to disregard items that are immaterial in the context of a contract. The effective date and transition requirements for this update are the same as those of the new standard. For public business entities, the amendments in this update are effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted, but not before December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . The amendments in ASU 2016-09 simplify several aspects of accounting for employee share-based payments including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some areas of the simplification apply only to nonpublic entities. The new guidance will require all income tax effects of awards to be recognized as income tax expense or benefit in the income statement when the awards vest or are settled and additional paid in capital pools will be eliminated. The guidance requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. Companies will be required to account for forfeitures of share-based payments by recognizing forfeitures of awards as they occur or estimating the number of awards expected to be forfeited and adjusting the estimate when it is likely to change, as currently required, through an accounting policy election. The guidance will increase the amount an employer can withhold to cover income taxes on awards and still qualify for the exception to liability classification for shares used to satisfy the employer's income tax withholding obligation. The guidance requires an employer to classify the cash paid to a tax authority when shares are withheld to satisfy its statutory income tax withholding obligation as a financing activity on the statement of cash flows. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance, however all of the guidance must be adopted in the same period. If early adoption is elected in an interim period, any adjustments should be reflected as of the beginning of the annual period that includes that interim period. The adoption of this guidance is not expected to have a material effect on the Corporation’s financial position or results of operations. FASB ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). The amendments in ASU 2016-08 are intended to improve the operability and understandability of the implementation guidance by clarifying the following: how an entity should identify the unit of accounting for the principal versus agent evaluation; how the control principle applies to transactions, such as service arrangements; reframes the indicators to focus on a principal rather than an agent, removes the credit risk and commission indicators and clarifies the relationship between the control principle and the indicators; and revises the existing illustrative examples and adds new illustrative examples. For public business entities, the amendments in this update are effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted, but not before December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-07, Investments—Equity Method and Joint Ventures (Topic 323) , The amendments in this update eliminate the requirement that when an investment qualifies for use of the equity method due to an increase in level of ownership or influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by step basis as if the equity method had been in effect during all previous periods that the investment had been held. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures FASB ASU 2016-06, Derivatives and Hedging (Topic 815), Contingent Put and Call Options in Debt Instruments . The amendments in this update clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amendments in this update is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. An entity should apply the amendments in this update on a modified retrospective basis to existing debt instruments as of the beginning of the fiscal year for which the amendments are effective. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on The amendments in ASU 2016-05 clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be met. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-02, Leases (Topic 842), The amendments in ASU 2016-02 increase transparency and comparability by requiring a lessee to recognize assets and liabilities for operating and capital leases with lease terms of more than 12 months. Additional qualitative and quantitative requirements disclosures are required to provide additional information to better understand the amount, timing, and uncertainty of cash flows arising from leases. Lessor accounting will remain largely unchanged from current GAAP. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. FASB ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this update supersede the guidance to classify equity securities with readily determinable fair values into different categories (that is, trading or available-for-sale) and require equity securities (including other ownership interests, such as partnerships, unincorporated joint ventures, and limited liability companies) to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments also require enhanced disclosures about those investments. The amendments improve financial reporting by providing relevant information about an entity’s equity investments and reducing the number of items that are recognized in other comprehensive income. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The adoption of this guidance is not expected to have a material effect on the Corporation’s financial position or results of operations. FASB ASU 2014-09, Revenue from Contracts with Customers . In May 2014, the FASB issued new accounting guidance that revises the criteria for determining when to recognize revenue from contracts with customers and expands disclosure requirements. The amendments in this update supersede virtually all existing GAAP revenue recognition guidance, including most industry-specific revenue recognition guidance. The core principle requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 applies to contracts with customers to provide goods and services, with certain exclusions such as lease contracts, financing arrangements, and financial instruments. On July 9, 2015, the FASB decided to delay, by one year, the effective dates, permitting public entities to apply this guidance to annual reporting periods beginning after December 15, 2017, with early adoption permitted, but not before December 15, 2016. The amendments can be adopted using either the full retrospective approach or a modified retrospective approach. There are many aspects of this new accounting guidance that are still being interpreted, and the FASB has recently issued updates to certain aspects of the guidance as noted above. The Corporation is in process of assessing the potential impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. |
Investment policy on municipal securities | The Corporation's investment policy states that municipal securities purchased are to be investment grade and allows for a 20% maximum portfolio concentration in municipal securities with a combined individual state to total municipal outstanding equal to or less than 25% . |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities | The following tables provide the amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities. Held-to-maturity securities are carried at amortized cost, which reflects historical cost, adjusted for amortization of premiums and accretion of discounts. Available-for-sale securities are carried at fair value with net unrealized gains or losses reported on an after tax basis as a component of OCI in shareholders' equity. June 30, 2016 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. treasury notes & bonds $ 4,996 $ 1 $ — $ 4,997 U.S. government agency debentures 2,500 28 — 2,528 U.S. states and political subdivisions 147,807 3,742 (2 ) 151,547 Residential mortgage-backed securities: U.S. government agencies 840,250 20,064 (67 ) 860,247 Commercial mortgage-backed securities: U.S. government agencies 198,069 4,095 (116 ) 202,048 Residential collateralized mortgage-backed securities: U.S. government agencies 2,325,707 30,400 (3,089 ) 2,353,018 Non-agency 3 — — 3 Commercial collateralized mortgage-backed securities: U.S. government agencies 392,205 6,528 (122 ) 398,611 Asset-backed securities: Collateralized loan obligations 297,939 354 (6,499 ) 291,794 Corporate debt securities 61,740 — (10,633 ) 51,107 Total debt securities 4,271,216 65,212 (20,528 ) 4,315,900 Equity securities Marketable equity securities 2,788 — — 2,788 Total equity securities 2,788 — — 2,788 Total securities available-for-sale $ 4,274,004 $ 65,212 $ (20,528 ) $ 4,318,688 Securities held-to-maturity Debt securities U.S. government agency debentures $ 25,000 $ 35 $ — $ 25,035 U.S. states and political subdivisions 540,425 15,713 (265 ) 555,873 Residential mortgage-backed securities: U.S. government agencies 467,462 12,367 — 479,829 Commercial mortgage-backed securities: U.S. government agencies 87,964 1,991 (42 ) 89,913 Residential collateralized mortgage-backed securities: U.S. government agencies 1,060,496 4,327 (6,670 ) 1,058,153 Commercial collateralized mortgage-backed securities: U.S. government agencies 246,509 3,559 (410 ) 249,658 Corporate debt securities 86,305 974 — 87,279 Total securities held-to-maturity $ 2,514,161 $ 38,966 $ (7,387 ) $ 2,545,740 December 31, 2015 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. treasury notes & bonds $ 5,001 $ — $ (1 ) $ 5,000 U.S. government agency debentures 2,500 — (2 ) 2,498 U.S. states and political subdivisions 188,829 4,170 (204 ) 192,795 Residential mortgage-backed securities: U.S. government agencies 900,358 11,325 (5,454 ) 906,229 Commercial mortgage-backed securities: U.S. government agencies 173,912 220 (2,023 ) 172,109 Residential collateralized mortgage-backed securities: U.S. government agencies 2,155,808 2,659 (30,147 ) 2,128,320 Non-agency 4 — — 4 Commercial collateralized mortgage-backed securities: U.S. government agencies 217,008 580 (1,269 ) 216,319 Asset-backed securities: Collateralized loan obligations 297,831 26 (8,446 ) 289,411 Corporate debt securities 61,710 — (9,481 ) 52,229 Total debt securities 4,002,961 18,980 (57,027 ) 3,964,914 Equity securities Marketable equity securities 2,821 — — 2,821 Total equity securities 2,821 — — 2,821 Total securities available-for-sale $ 4,005,782 $ 18,980 $ (57,027 ) $ 3,967,735 Securities held-to-maturity Debt securities U.S. government agency debentures 25,000 19 — 25,019 U.S. states and political subdivisions 571,738 22,180 (262 ) 593,656 Residential mortgage-backed securities: U.S. government agencies 507,908 4,767 (2,999 ) 509,676 Commercial mortgage-backed securities: U.S. government agencies 64,951 294 (574 ) 64,671 Residential collateralized mortgage-backed securities: U.S. government agencies 1,161,340 75 (35,881 ) 1,125,534 Commercial collateralized mortgage-backed securities: U.S. government agencies 255,359 676 (3,611 ) 252,424 Corporate debt securities 87,797 364 (22 ) 88,139 Total securities held-to-maturity $ 2,674,093 $ 28,375 $ (43,349 ) $ 2,659,119 June 30, 2015 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale Debt securities U.S. treasury notes & bonds $ 5,004 $ 1 $ — $ 5,005 U.S. government agency debentures 2,500 10 — 2,510 U.S. states and political subdivisions 203,449 5,191 (1,023 ) 207,617 Residential mortgage-backed securities: U.S. government agencies 947,347 18,068 (4,563 ) 960,852 Commercial mortgage-backed securities: U.S. government agencies 171,842 643 (2,147 ) 170,338 Residential collateralized mortgage-backed securities: U.S. government agencies 1,968,918 4,779 (24,308 ) 1,949,389 Non-agency 5 — — 5 Commercial collateralized mortgage-backed securities: U.S. government agencies 227,889 1,254 (705 ) 228,438 Asset-backed securities: Collateralized loan obligations 259,743 801 (2,463 ) 258,081 Corporate debt securities 61,681 — (8,231 ) 53,450 Total debt securities 3,848,378 30,747 (43,440 ) 3,835,685 Equity Securities Marketable equity securities 2,824 — — 2,824 Non-marketable equity securities — — — — Total equity securities 2,824 — — 2,824 Total securities available-for-sale $ 3,851,202 $ 30,747 $ (43,440 ) $ 3,838,509 Securities held-to-maturity Debt securities U.S. government agency debentures 25,000 — (323 ) 24,677 U.S states and political subdivisions 529,441 8,104 (1,942 ) 535,603 Residential mortgage-backed securities: U.S. government agencies 555,273 6,919 (2,940 ) 559,252 Commercial mortgage-backed securities: U.S. government agencies 57,462 412 (219 ) 57,655 Residential collateralized mortgage-backed securities: U.S. government agencies 1,267,321 445 (35,025 ) 1,232,741 Commercial collateralized mortgage-backed securities: U.S. government agencies 263,741 1,004 (4,523 ) 260,222 Corporate debt securities 89,275 695 — 89,970 Total securities held-to-maturity $ 2,787,513 $ 17,579 $ (44,972 ) $ 2,760,120 |
Schedule of general obligation bonds | The Corporation's U.S. states and political subdivisions portfolio is composed of general obligation bonds issued by a highly diversified number of states, cities, counties, and school districts. The amortized cost and fair value of the Corporation's portfolio of general obligation bonds are summarized by U.S. state in the tables below. As illustrated in the tables below, the aggregate fair value of the Corporation's general obligation bonds was greater than $10.0 million in 11 of the 37 U.S. states in which it holds investments. (Dollars in thousands) June 30, 2016 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Michigan 116 $ 1,404 $ 157,403 $ 162,897 Ohio 108 1,095 115,545 118,300 Wisconsin 54 651 34,046 35,166 Illinois 52 1,783 90,772 92,711 Texas 51 816 40,409 41,629 Pennsylvania 41 1,037 41,674 42,529 New Jersey 31 724 21,928 22,441 Washington 27 968 25,586 26,149 Minnesota 23 699 15,667 16,076 New York 18 575 10,044 10,346 Missouri 10 1,075 10,414 10,754 Other 105 768 79,275 80,688 Total general obligation bonds 636 $ 1,037 $ 642,763 $ 659,686 (Dollars in thousands) December 31, 2015 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Michigan 137 $ 1,381 $ 180,508 $ 189,259 Ohio 111 1,091 116,783 121,117 Illinois 55 1,870 99,524 102,867 Texas 58 807 45,818 46,805 Wisconsin 69 673 44,794 46,454 Pennsylvania 42 1,020 42,185 42,835 Washington 29 950 27,080 27,548 New Jersey 35 725 24,810 25,372 Minnesota 33 667 21,679 22,020 Missouri 15 1,078 15,878 16,174 New York 18 635 11,161 11,422 Other 110 759 81,815 83,477 Total general obligation bonds 712 $ 1,033 $ 712,035 $ 735,350 (Dollars in thousands) June 30, 2015 U.S. State # of Issuers Average Issue Size, Fair Value Amortized Cost Fair Value Michigan 153 $ 1,018 $ 152,499 $ 155,712 Ohio 127 964 121,716 122,474 Illinois 60 1,784 105,581 107,033 Wisconsin 70 585 39,774 40,950 Texas 67 759 50,370 50,877 Pennsylvania 46 1,014 46,547 46,666 Washington 30 939 27,783 28,169 New Jersey 34 720 23,916 24,472 Minnesota 34 692 23,267 23,540 Missouri 15 1,084 15,981 16,265 New York 18 633 11,187 11,392 Other 119 639 75,670 76,040 Total general obligation bonds 773 $ 910 $ 694,291 $ 703,590 |
Other investments | FRB and FHLB stock constitutes the majority of other investments on the Consolidated Balance Sheets. (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 FRB stock $ 56,303 $ 56,083 $ 55,853 FHLB stock 91,714 91,714 91,713 Other 350 375 401 Total other investments $ 148,367 $ 148,172 $ 147,967 |
Realized Gains and Losses | Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Realized gains $ 2,164 $ 672 $ 2,459 $ 1,064 Realized losses — (105 ) — (143 ) Net securities (losses)/gains $ 2,164 $ 567 $ 2,459 $ 921 |
Gross unrealized losses and fair value of securities | The following table presents the gross unrealized losses and fair value of securities by length of time that individual securities had been in a continuous loss position by major categories of available-for-sale and held-to-maturity securities. June 30, 2016 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Impaired Securities Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S. states and political subdivisions $ 1,567 $ (2 ) 3 $ — $ — — $ 1,567 $ (2 ) Residential mortgage-backed securities: U.S. government agencies 14,275 (67 ) 5 — — 0 14,275 (67 ) Commercial mortgage-backed securities: U.S. government agencies 23,570 (28 ) 1 12,627 (88 ) 1 36,197 (116 ) Residential collateralized mortgage-backed securities: U.S. government agencies 13,182 (271 ) 1 332,305 (2,818 ) 29 345,487 (3,089 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 24,401 (38 ) 4 19,071 (84 ) 1 43,472 (122 ) Asset-backed securities: Collateralized loan obligations 92,851 (1,795 ) 16 161,827 (4,704 ) 21 254,678 (6,499 ) Corporate debt securities 51,106 (10,633 ) 8 51,106 (10,633 ) Total securities available-for-sale $ 169,846 $ (2,201 ) 30 $ 576,936 $ (18,327 ) 60 $ 746,782 $ (20,528 ) Securities held-to-maturity Debt securities U.S. states and political subdivisions $ 3,525 $ (19 ) $ 7 $ 6,569 $ (246 ) $ 9 $ 10,094 $ (265 ) Residential mortgage-backed securities: U.S. government agencies — — 0 — — 0 — — Commercial mortgage-backed securities: U.S. government agencies 13,478 (42 ) 1 — — 0 13,478 (42 ) Residential collateralized mortgage-backed securities: U.S. government agencies — — 0 598,383 (6,670 ) 37 598,383 (6,670 ) Commercial collateralized mortgage-backed securities: U.S. government agencies — — 0 47,686 (410 ) 4 47,686 (410 ) Collateralized loan obligations: Corporate debt securities 5,002 — 1 — — 0 5,002 — Total securities held-to-maturity $ 22,005 $ (61 ) 9 $ 652,638 $ (7,326 ) 50 $ 674,643 $ (7,387 ) December 31, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Number Impaired Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S government agency debentures $ 2,498 $ (2 ) 1 $ — $ — 0 $ 2,498 $ (2 ) U.S. treasury notes and bonds 5,000 (1 ) 1 — — 0 5,000 (1 ) U.S. states and political subdivisions 10,178 (37 ) 20 5,899 (167 ) 9 16,077 (204 ) Residential mortgage-backed securities: U.S. government agencies 328,156 (3,026 ) 27 95,895 (2,428 ) 7 424,051 (5,454 ) Commercial mortgage-backed securities: U.S. government agencies 107,074 (1,447 ) 15 12,401 (576 ) 1 119,475 (2,023 ) Residential collateralized mortgage-backed securities: U.S. government agencies 1,130,779 (10,587 ) 78 597,403 (19,560 ) 49 1,728,182 (30,147 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 113,825 (893 ) 12 23,400 (376 ) 2 137,225 (1,269 ) Asset-backed securities: Collateralized loan obligations 151,810 (3,576 ) 26 126,422 (4,870 ) 15 278,232 (8,446 ) Corporate debt securities — — 0 52,229 (9,481 ) 8 52,229 (9,481 ) Total securities available-for-sale $ 1,849,320 $ (19,569 ) 180 $ 913,649 $ (37,458 ) 91 $ 2,762,969 $ (57,027 ) Securities held-to-maturity Debt securities U.S. states and political subdivisions $ 18,465 $ (224 ) 21 $ 4,174 $ (38 ) 6 $ 22,639 $ (262 ) Residential mortgage-backed securities: U.S. government agencies 85,738 (715 ) 6 97,880 (2,284 ) 6 183,618 (2,999 ) Commercial mortgage-backed securities: U.S. government agencies 34,833 (346 ) 6 9,269 (228 ) 1 44,102 (574 ) Residential collateralized mortgage-backed securities: U.S. government agencies 140,514 (1,225 ) 12 941,982 (34,656 ) 55 1,082,496 (35,881 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 71,812 (384 ) 7 117,992 (3,227 ) 11 189,804 (3,611 ) Corporate debt securities 19,243 (22 ) 6 — — 0 19,243 (22 ) Total securities held-to-maturity $ 370,605 $ (2,916 ) 58 $ 1,171,297 $ (40,433 ) 79 $ 1,541,902 $ (43,349 ) June 30, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Number Securities Fair Value Unrealized Losses Securities available-for-sale Debt securities U.S. states and political subdivisions $ 32,237 $ (587 ) 52 $ 5,642 $ (436 ) 9 $ 37,879 $ (1,023 ) Residential mortgage-backed securities: U.S. government agencies 196,219 (2,087 ) 15 103,498 (2,476 ) 8 299,717 (4,563 ) Commercial mortgage-backed securities: U.S. government agencies 96,573 (1,457 ) 14 17,335 (690 ) 2 113,908 (2,147 ) Residential collateralized mortgage-backed securities: U.S. government agencies 596,646 (4,398 ) 42 706,376 (19,910 ) 53 1,303,022 (24,308 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 46,771 (71 ) 5 61,120 (634 ) 7 107,891 (705 ) Asset-backed securities: Collateralized loan obligations 84,565 (1,204 ) 10 86,082 (1,259 ) 11 170,647 (2,463 ) Corporate debt securities 4,225 (765 ) 1 49,225 (7,466 ) 7 53,450 (8,231 ) Total securities available-for-sale $ 1,057,236 $ (10,569 ) 139 $ 1,029,278 $ (32,871 ) 97 $ 2,086,514 $ (43,440 ) Securities held-to-maturity Debt securities U.S. government agency debentures — — 0 24,677 (323 ) 1 24,677 (323 ) U.S. states and political subdivisions 98,867 (1,872 ) 112 4,430 (70 ) 6 103,297 (1,942 ) Residential mortgage-backed securities: U.S. government agencies 83,112 (483 ) 5 105,289 (2,457 ) 6 188,401 (2,940 ) Commercial mortgage-backed securities: U.S. government agencies 7,263 (41 ) 1 9,430 (178 ) 1 16,693 (219 ) Residential collateralized mortgage-backed securities: U.S. government agencies 111,360 (835 ) 8 1,042,351 (34,190 ) 56 1,153,711 (35,025 ) Commercial collateralized mortgage-backed securities: U.S. government agencies 5,025 (2 ) 1 142,937 (4,521 ) 13 147,962 (4,523 ) Total securities held-to-maturity $ 305,627 $ (3,233 ) 127 $ 1,329,114 $ (41,739 ) 83 $ 1,634,741 $ (44,972 ) |
Investments Classified by Contractual Maturity Date | (Dollars in thousands) U.S. Treasury notes & bonds U.S. Government agency debentures U.S. States and political subdivisions Residential mortgage-backed securities - U.S. govt. agencies Commercial mortgage-backed securities - U.S. govt. agencies Residential collateralized mortgage obligations - U.S. govt. agencies Residential collateralized mortgage obligations - non-agency Commercial collateralized mortgage obligations - U.S. govt. agencies Asset backed securities - collateralized loan obligations Corporate debt securities Total Weighted Average Yield Securities Available-for-Sale Remaining maturity: One year or less $ 4,997 $ — $ 5,895 $ 65 $ — $ — $ — $ — $ — $ — $ 10,957 2.32 % Over one year through five years — 2,528 75,103 86,480 24,498 13,936 3 22,126 — — 224,674 3.54 % Over five years through ten years — — 51,441 47,116 123,441 10,705 — 103,837 218,344 — 554,884 2.92 % Over ten years — — 19,108 726,586 54,109 2,328,377 — 272,648 73,450 51,107 3,525,385 2.23 % Fair Value $ 4,997 $ 2,528 $ 151,547 $ 860,247 $ 202,048 $ 2,353,018 $ 3 $ 398,611 $ 291,794 $ 51,107 $ 4,315,900 2.39 % Amortized Cost $ 4,996 $ 2,500 $ 147,807 $ 840,250 $ 198,069 $ 2,325,707 $ 3 $ 392,205 $ 297,939 $ 61,740 $ 4,271,216 Weighted-Average Yield 0.31 % 1.25 % 5.00 % 2.98 % 2.13 % 2.01 % 2.98 % 2.18 % 3.08 % 1.37 % 2.39 % Weighted-Average Maturity (in years) 0.23 1.92 1.86 3.28 3.60 3.11 0.59 3.90 6.51 11.31 3.55 Securities Held-to-Maturity Remaining maturity: One year or less $ — $ — $ 64,872 $ — $ — $ — $ — $ — $ — $ 22,443 $ 87,315 2.36 % Over one year through five years — 25,035 157,172 — 36,522 — — 81,237 — 64,836 364,802 2.47 % Over five years through ten years — — 193,355 21,307 53,391 — — 40,365 — — 308,418 3.83 % Over ten years — — 140,474 458,522 — 1,058,153 — 128,056 — — 1,785,205 2.02 % Fair Value $ — $ 25,035 $ 555,873 $ 479,829 $ 89,913 $ 1,058,153 $ — $ 249,658 $ — $ 87,279 $ 2,545,740 2.31 % Amortized Cost $ — $ 25,000 $ 540,425 $ 467,462 $ 87,964 $ 1,060,496 $ — $ 246,509 $ — $ 86,305 $ 2,514,161 Weighted-Average Yield — % 1.43 % 4.21 % 2.13 % 2.14 % 1.59 % — % 1.77 % — % 2.30 % 2.31 % Weighted-Average Maturity (in years) — 0.08 4.50 3.29 2.81 3.25 — 3.56 — 1.52 3.45 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans outstanding as of June 30, 2016 , December 31, 2015 , and June 30, 2015 , net of unearned income, consisted of the following: (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 Originated loans: Commercial $ 9,132,366 $ 9,007,830 $ 8,633,332 Residential mortgage 728,534 689,045 653,143 Installment 3,353,084 2,990,349 2,720,059 Home equity 1,276,661 1,248,438 1,180,802 Credit cards 174,986 182,843 168,576 Total originated loans 14,665,631 14,118,505 13,355,912 Allowance for originated loan losses (105,175 ) (105,135 ) (101,682 ) Net originated loans $ 14,560,456 $ 14,013,370 $ 13,254,230 Acquired loans: Commercial $ 554,414 $ 677,149 $ 877,598 Residential mortgage 292,877 324,008 358,559 Installment 494,429 573,372 659,348 Home equity 146,916 168,542 200,179 Total acquired loans 1,488,636 1,743,071 2,095,684 Allowance for acquired loan losses (4,256 ) (3,877 ) (4,950 ) Net acquired loans $ 1,484,380 $ 1,739,194 $ 2,090,734 FDIC acquired loans: Commercial $ 115,793 $ 129,109 $ 145,821 Residential mortgage 33,370 35,568 38,029 Installment 1,808 2,077 2,299 Home equity 29,813 38,668 55,545 Loss share receivable 8,555 9,947 11,820 Total FDIC acquired loans 189,339 215,369 253,514 Allowance for FDIC acquired loan losses (40,218 ) (44,679 ) (41,627 ) Net FDIC acquired loans $ 149,121 $ 170,690 $ 211,887 Total loans: Commercial $ 9,802,573 $ 9,814,088 $ 9,656,751 Residential mortgage 1,054,781 1,048,621 1,049,731 Installment 3,849,321 3,565,798 3,381,706 Home equity 1,453,390 1,455,648 1,436,526 Credit cards 174,986 182,843 168,576 Loss share receivable 8,555 9,947 11,820 Total loans 16,343,606 16,076,945 15,705,110 Total allowance for loan losses (149,649 ) (153,691 ) (148,259 ) Total Net loans $ 16,193,957 $ 15,923,254 $ 15,556,851 |
Changes in Carrying Amount of Accretable Yield for Acquired Impaired Loans | Total outstanding acquired impaired loans as of June 30, 2016 and 2015 were $340.9 million and $504.7 million , respectively. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged-off. Changes in the carrying amount and accretable yield for acquired impaired loans were as follows for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, Acquired Impaired Loans 2016 2015 2016 2015 (In thousands) Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Balance at beginning of period $ 85,444 $ 257,152 $ 118,756 $ 388,313 $ 89,823 $ 284,709 $ 119,450 $ 423,209 Accretion (7,921 ) 7,921 (10,285 ) 10,285 (16,823 ) 16,823 (21,503 ) 21,503 Net reclassifications from nonaccretable to accretable 4,883 — 8,217 — 12,636 — 21,212 — Payments received, net — (25,878 ) — (42,434 ) — (62,337 ) — (88,548 ) Disposals (3,042 ) — (4,657 ) — (6,272 ) — (7,128 ) — Balance at end of period $ 79,364 $ 239,195 $ 112,031 $ 356,164 $ 79,364 $ 239,195 $ 112,031 $ 356,164 |
Changes in Loss Share Receivable Associated with Covered Loans | Changes in the loss share receivable for the three and six months ended June 30, 2016 and 2015 were as follows: Loss Share Receivable Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of period $ 9,436 $ 20,005 $ 9,947 $ 22,033 Amortization (358 ) (1,185 ) (706 ) (3,372 ) Increase/(decrease) due to impairment (recapture) on FDIC acquired loans (12 ) 1,819 257 6,046 FDIC reimbursement (194 ) (8,713 ) (386 ) (12,726 ) FDIC acquired loans paid in full (317 ) (106 ) (557 ) (161 ) Balance at end of the period (1) $ 8,555 $ 11,820 $ 8,555 $ 11,820 (1) As of June 30, 2016 , the loss share receivable of $8.6 million was related to single family covered loans. |
Changes in Carrying Amount of Accretable Yield for Covered Impaired Loans | Total outstanding FDIC acquired impaired loans were $301.2 million and $351.1 million as of June 30, 2016 and 2015 , respectively. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged-off. Changes in the carrying amount and accretable yield for FDIC acquired impaired loans were as follows for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, FDIC Acquired Impaired Loans 2016 2015 2016 2015 (In thousands) Accretable Yield Carrying Loans Accretable Yield Carrying Loans Accretable Yield Carrying Loans Accretable Yield Carrying Loans Balance at beginning of period $ 22,126 $ 122,134 $ 29,867 $ 199,225 $ 22,908 $ 130,648 $ 37,511 $ 232,452 Accretion (2,231 ) 2,231 (4,100 ) 4,100 (4,528 ) 4,528 (9,667 ) 9,667 Net reclassifications between non-accretable and accretable 699 — 2,136 — 2,372 — 2,080 — Payments received, net — (5,604 ) — (45,517 ) — (16,415 ) — (84,311 ) (Disposals)/Additions (371 ) — (1,753 ) — (529 ) — (3,774 ) — Balance at end of period $ 20,223 $ 118,761 $ 26,150 $ 157,808 $ 20,223 $ 118,761 $ 26,150 $ 157,808 The cash flows expected to be collected on FDIC acquired impaired loans are estimated quarterly in a similar manner as described above for acquired impaired loans. During the quarter ended June 30, 2016 , the re-estimation process resulted in a net reclassification of $0.7 million from the nonaccretable difference to accretable yield. This reclassification was $2.1 million for the three months ended June 30, 2015 . The reclassification from the nonaccretable difference to the accretable yield results in prospective yield adjustments on the loan pools. |
Past Due Financing Receivables | The following tables provide a summary of loans by portfolio type, including the delinquency status of those loans that continue to accrue interest and those loans that are nonaccrual: As of June 30, 2016 (In thousands) ≥ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 1,677 $ 1,465 $ 10,864 $ 14,006 $ 5,868,988 $ 5,882,994 $ 1,062 $ 43,887 CRE 4,506 142 12,176 16,824 2,018,674 2,035,498 166 13,860 Construction — 709 4,760 5,469 699,871 705,340 — 9,195 Leases — — 476 476 508,058 508,534 476 — Consumer Installment 15,662 3,496 4,005 23,163 3,329,921 3,353,084 3,453 3,506 Home Equity Lines 1,245 713 2,140 4,098 1,272,563 1,276,661 623 2,390 Credit Cards 811 504 860 2,175 172,811 174,986 789 758 Residential Mortgages 9,564 2,017 4,233 15,814 712,720 728,534 1,439 10,701 Total $ 33,465 $ 9,046 $ 39,514 $ 82,025 $ 14,583,606 $ 14,665,631 $ 8,008 $ 84,297 Acquired Loans ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 340 $ 121 $ 1,168 $ 1,629 $ 179,874 $ 181,503 $ — $ 865 CRE 602 896 9,491 10,989 357,811 368,800 — 4,482 Construction — — 413 413 3,698 4,111 — — Consumer Installment 3,623 767 486 4,876 489,553 494,429 224 615 Home Equity Lines 960 503 712 2,175 144,741 146,916 587 235 Residential Mortgages 299 943 3,867 5,109 287,768 292,877 646 924 Total $ 5,824 $ 3,230 $ 16,137 $ 25,191 $ 1,463,445 $ 1,488,636 $ 1,457 $ 7,121 FDIC Acquired Loans (2) ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ — $ — $ 1,326 $ 1,326 $ 29,948 $ 31,274 n/a n/a CRE — 804 24,931 25,735 54,153 79,888 n/a n/a Construction — — 3,512 3,512 1,119 4,631 n/a n/a Consumer Installment — — — — 1,808 1,808 n/a n/a Home Equity Lines 2,097 354 938 3,389 26,424 29,813 n/a n/a Residential Mortgages 4,371 204 1,800 6,375 26,995 33,370 n/a n/a Total $ 6,468 $ 1,362 $ 32,507 $ 40,337 $ 140,447 $ 180,784 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.3 million of loans guaranteed by the U.S. government as of June 30, 2016 . (2) Excludes loss share receivable of $8.6 million as of June 30, 2016 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at June 30, 2016 as the loans are considered to be performing under ASC 310-30. As a result, interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and FDIC acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. As of December 31, 2015 (In thousands) ≥ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 4,684 $ 115 $ 8,824 $ 13,623 $ 5,779,785 $ 5,793,408 $ 236 $ 23,123 CRE 12,880 — 2,260 15,140 2,062,204 2,077,344 153 4,503 Construction 1,360 — 486 1,846 643,491 645,337 — 482 Leases — — — — 491,741 491,741 — — Consumer Installment 17,934 4,828 3,920 26,682 2,963,667 2,990,349 3,519 2,178 Home Equity Lines 1,952 913 1,478 4,343 1,244,095 1,248,438 513 1,674 Credit Cards 1,449 494 632 2,575 180,268 182,843 725 545 Residential Mortgages 11,099 1,519 6,693 19,311 669,734 689,045 2,876 11,600 Total $ 51,358 $ 7,869 $ 24,293 $ 83,520 $ 14,034,985 $ 14,118,505 $ 8,022 $ 44,105 Acquired Loans ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 311 $ 31 $ 3,336 $ 3,678 $ 236,467 $ 240,145 $ 13 $ 782 CRE 3,192 1,681 9,657 14,530 416,361 430,891 522 4,948 Construction — — 733 733 5,380 6,113 — — Consumer Installment 5,059 1,329 974 7,362 566,010 573,372 236 835 Home Equity Lines 1,365 660 1,260 3,285 165,257 168,542 644 514 Residential Mortgages 8,760 567 6,792 16,119 307,889 324,008 1,681 1,166 Total $ 18,687 $ 4,268 $ 22,752 $ 45,707 $ 1,697,364 $ 1,743,071 $ 3,096 $ 8,245 FDIC Acquired Loans (2) ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ — $ — $ 1,054 $ 1,054 $ 34,412 $ 35,466 n/a n/a CRE 296 354 28,501 29,151 58,623 87,774 n/a n/a Construction — — 3,761 3,761 2,108 5,869 n/a n/a Consumer Installment — — — — 2,077 2,077 n/a n/a Home Equity Lines 2,230 52 1,917 4,199 34,469 38,668 n/a n/a Residential Mortgages 4,616 172 2,655 7,443 28,125 35,568 n/a n/a Total $ 7,142 $ 578 $ 37,888 $ 45,608 $ 159,814 $ 205,422 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.3 million of loans guaranteed by the U.S. government as of December 31, 2015 . (2) Excludes loss share receivable of $9.9 million as of December 31, 2015 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at December 31, 2015 as the loans are considered to be performing under ASC 310-30. As a result, interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and FDIC acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans. As of June 30, 2015 (In thousands) ≥ 90 Days Originated Loans Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (1) Loans Commercial C&I $ 5,837 $ 1,949 $ 3,780 $ 11,566 $ 5,459,797 $ 5,471,363 $ — $ 29,241 CRE 3,758 119 2,780 6,657 2,131,715 2,138,372 418 7,486 Construction 483 — — 483 586,412 586,895 — — Leases 17,862 — — 17,862 418,840 436,702 — 1,162 Consumer Installment 11,526 3,010 4,191 18,727 2,701,332 2,720,059 3,386 2,903 Home Equity Lines 2,268 720 1,032 4,020 1,176,782 1,180,802 249 1,591 Credit Cards 679 338 558 1,575 167,001 168,576 337 459 Residential Mortgages 9,792 1,935 7,595 19,322 633,821 653,143 3,619 12,300 Total $ 52,205 $ 8,071 $ 19,936 $ 80,212 $ 13,275,700 $ 13,355,912 $ 8,009 $ 55,142 Acquired Loans ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ 33 $ 99 $ 3,279 $ 3,411 $ 334,012 $ 337,423 $ — $ 661 CRE 3,353 3,115 17,473 23,941 510,004 533,945 — 5,545 Construction — — 694 694 5,536 6,230 — — Consumer Installment 3,999 1,029 1,083 6,111 653,237 659,348 475 671 Home Equity Lines 2,349 785 1,353 4,487 195,692 200,179 762 246 Residential Mortgages 186 1,173 4,902 6,261 352,298 358,559 411 929 Total $ 9,920 $ 6,201 $ 28,784 $ 44,905 $ 2,050,779 $ 2,095,684 $ 1,648 $ 8,052 FDIC Acquired Loans (2) ≥ 90 Days Days Past Due Total Total Past Due and Nonaccrual 30-59 60-89 ≥ 90 Past Due Current Loans Accruing (3) Loans (3) Commercial C&I $ — $ — $ 2,916 $ 2,916 $ 35,221 $ 38,137 n/a n/a CRE 664 1,959 32,076 34,699 67,110 101,809 n/a n/a Construction — — 3,701 3,701 2,174 5,875 n/a n/a Consumer Installment — — — — 2,299 2,299 n/a n/a Home Equity Lines 1,256 246 3,454 4,956 50,589 55,545 n/a n/a Residential Mortgages 5,391 319 2,961 8,671 29,358 38,029 n/a n/a Total $ 7,311 $ 2,524 $ 45,108 $ 54,943 $ 186,751 $ 241,694 n/a n/a (1) Installment loans 90 days or more past due and accruing include $2.7 million of loans guaranteed by the U.S. government as of June 30, 2015 . (2) Excludes loss share receivable of $11.8 million as of June 30, 2015 . (3) Acquired and FDIC acquired impaired loans were not classified as nonperforming assets at June 30, 2015 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired and FDIC acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired and FDIC acquired impaired loans |
Financing Receivable Credit Quality Indicators | The following tables provide a summary of commercial loans by portfolio type and the Corporation's internal credit quality rating: As of June 30, 2016 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 75,818 $ 742 $ — $ 12,001 $ 88,561 Grade 2 416,677 806 — 49,953 467,436 Grade 3 1,267,423 294,396 46,114 87,346 1,695,279 Grade 4 3,886,039 1,697,194 609,659 325,346 6,518,238 Grade 5 73,989 13,929 31,744 22,830 142,492 Grade 6 154,707 28,431 17,823 11,058 212,019 Grade 7 8,341 — — — 8,341 Total $ 5,882,994 $ 2,035,498 $ 705,340 $ 508,534 $ 9,132,366 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ — $ — $ — $ — $ — Grade 2 — — — — — Grade 3 5,994 24,244 — — 30,238 Grade 4 140,944 303,228 3,698 — 447,870 Grade 5 27,053 11,607 — — 38,660 Grade 6 7,512 29,721 413 — 37,646 Grade 7 — — — — — Total $ 181,503 $ 368,800 $ 4,111 $ — $ 554,414 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ — $ — $ — $ — $ — Grade 2 — — — — — Grade 3 — 7,040 — — 7,040 Grade 4 27,834 45,520 — — 73,354 Grade 5 — — — — — Grade 6 3,440 27,328 4,631 — 35,399 Grade 7 — — — — — Total $ 31,274 $ 79,888 $ 4,631 $ — $ 115,793 As of December 31, 2015 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 60,440 $ 773 $ — $ 12,732 $ 73,945 Grade 2 353,581 831 — 69,258 423,670 Grade 3 1,371,850 319,987 59,182 49,956 1,800,975 Grade 4 3,756,333 1,697,261 569,098 344,763 6,367,455 Grade 5 124,140 18,388 7,193 7,858 157,579 Grade 6 124,483 40,105 9,864 7,174 181,626 Grade 7 2,581 (1 ) — — 2,580 Total $ 5,793,408 $ 2,077,344 $ 645,337 $ 491,741 $ 9,007,830 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 346 $ — $ — $ — $ 346 Grade 2 — — — — — Grade 3 15,548 27,387 — — 42,935 Grade 4 200,736 361,518 5,380 — 567,634 Grade 5 11,735 12,546 — — 24,281 Grade 6 11,780 29,440 733 — 41,953 Grade 7 — — — — — Total $ 240,145 $ 430,891 $ 6,113 $ — $ 677,149 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ — $ — $ — $ — $ — Grade 2 1,072 — — — 1,072 Grade 3 — 7,004 — — 7,004 Grade 4 31,637 49,917 819 — 82,373 Grade 5 295 — — — 295 Grade 6 2,462 30,853 5,050 — 38,365 Grade 7 — — — — — Total $ 35,466 $ 87,774 $ 5,869 $ — $ 129,109 As of June 30, 2015 (In thousands) Originated Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 65,856 $ 807 $ — $ 14,688 $ 81,351 Grade 2 206,384 1,166 — 29,564 237,114 Grade 3 1,417,295 367,457 55,889 65,664 1,906,305 Grade 4 3,567,387 1,715,998 529,517 321,268 6,134,170 Grade 5 98,137 25,466 360 2,956 126,919 Grade 6 112,661 27,478 1,129 2,562 143,830 Grade 7 3,643 — — — 3,643 Total $ 5,471,363 $ 2,138,372 $ 586,895 $ 436,702 $ 8,633,332 Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ 1,061 $ — $ — $ — $ 1,061 Grade 2 — — — — — Grade 3 17,338 27,190 — — 44,528 Grade 4 289,027 453,830 5,536 — 748,393 Grade 5 13,283 16,815 — — 30,098 Grade 6 16,714 36,110 694 — 53,518 Grade 7 — — — — — Total $ 337,423 $ 533,945 $ 6,230 $ — $ 877,598 FDIC Acquired Loans Commercial C&I CRE Construction Leases Total Grade 1 $ — $ — $ — $ — $ — Grade 2 1,129 — — — 1,129 Grade 3 — — — — — Grade 4 33,992 65,906 817 — 100,715 Grade 5 — 625 — — 625 Grade 6 3,016 35,278 5,058 — 43,352 Grade 7 — — — — — Total $ 38,137 $ 101,809 $ 5,875 $ — $ 145,821 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent | The following tables show activity in the originated ALL, by portfolio segment for the three and six months ended June 30, 2016 and 2015 , as well as the corresponding recorded investment in originated loans at the end of the period: As of June 30, 2016 (In thousands) Originated Loans C&I CRE Construction Leases Installment Home Equity Lines Credit Cards Residential Mortgages Total Three Months Ended Allowance for originated loan losses, beginning balance $ 44,489 $ 7,244 $ 1,537 $ 1,499 $ 14,664 $ 19,528 $ 8,591 $ 5,363 $ 102,915 Charge-offs (2,593 ) (111 ) — — (5,418 ) (937 ) (1,031 ) (708 ) (10,798 ) Recoveries 1,335 207 2 29 3,573 499 421 45 6,111 Provision for loan losses 1,859 (1,468 ) 1,028 822 3,960 698 (831 ) 879 6,947 Allowance for originated loan losses, ending balance $ 45,090 $ 5,872 $ 2,567 $ 2,350 $ 16,779 $ 19,788 $ 7,150 $ 5,579 $ 105,175 Six Months Ended Allowance for originated loan losses, beginning balance $ 44,760 $ 9,631 $ 1,594 $ 1,313 $ 14,183 $ 20,094 $ 8,831 $ 4,729 $ 105,135 Charge-offs (5,803 ) (220 ) — — (12,186 ) (1,964 ) (2,484 ) (1,158 ) (23,815 ) Recoveries 1,867 232 4 49 7,379 1,123 778 65 11,497 Provision for loan losses 4,266 (3,771 ) 969 988 7,403 535 25 1,942 12,357 Allowance for originated loan losses, ending balance $ 45,090 $ 5,872 $ 2,567 $ 2,350 $ 16,779 $ 19,788 $ 7,150 $ 5,579 $ 105,175 Ending allowance for originated loan losses balance attributable to loans: Individually evaluated for impairment $ 10,447 $ 507 $ — $ — $ 1,149 $ 169 $ 201 $ 981 $ 13,454 Collectively evaluated for impairment 34,643 5,365 2,567 2,350 15,630 19,619 6,949 4,598 91,721 Total ending allowance for originated loan losses balance $ 45,090 $ 5,872 $ 2,567 $ 2,350 $ 16,779 $ 19,788 $ 7,150 $ 5,579 $ 105,175 Originated loans: Originated loans individually evaluated for impairment $ 62,707 $ 29,539 $ 512 $ — $ 42,272 $ 7,874 $ 679 $ 23,385 $ 166,968 Originated loans collectively evaluated for impairment 5,820,287 2,005,959 704,828 508,534 3,310,812 1,268,787 174,307 705,149 14,498,663 Total ending originated loan balance $ 5,882,994 $ 2,035,498 $ 705,340 $ 508,534 $ 3,353,084 $ 1,276,661 $ 174,986 $ 728,534 $ 14,665,631 As of June 30, 2015 (In thousands) Originated Loans C&I CRE Construction Leases Installment Home Equity Lines Credit Cards Residential Mortgages Total Three Months Ended Allowance for originated loan losses, beginning balance $ 39,838 $ 8,813 $ 1,752 $ 629 $ 13,358 $ 19,433 $ 7,801 $ 5,921 $ 97,545 Charge-offs (3,247 ) (408 ) — — (5,090 ) (971 ) (1,209 ) (373 ) (11,298 ) Recoveries 453 1 39 3 2,844 839 358 89 4,626 Provision for loan losses 5,832 94 (251 ) (13 ) 3,798 738 868 (257 ) 10,809 Allowance for originated loan losses, ending balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Six Months Ended Allowance for originated loan losses, beginning balance $ 37,375 $ 10,492 $ 2,202 $ 674 $ 12,918 $ 19,324 $ 7,966 $ 4,745 $ 95,696 Charge-offs (3,757 ) (623 ) — — (10,145 ) (1,882 ) (2,661 ) (797 ) (19,865 ) Recoveries 794 1 40 7 5,864 1,452 724 124 9,006 Provision for loan losses 8,464 (1,370 ) (702 ) (62 ) 6,273 1,145 1,789 1,308 16,845 Allowance for originated loan losses, ending balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Ending allowance for originated loan losses balance attributable to loans: Individually evaluated for impairment $ 9,117 $ 151 $ — $ — $ 1,001 $ 217 $ 250 $ 890 $ 11,626 Collectively evaluated for impairment 33,759 8,349 1,540 619 13,909 19,822 7,568 4,490 90,056 Total ending allowance for originated loan losses balance $ 42,876 $ 8,500 $ 1,540 $ 619 $ 14,910 $ 20,039 $ 7,818 $ 5,380 $ 101,682 Originated loans: Originated loans individually evaluated for impairment $ 45,969 $ 12,072 $ — $ 1,162 $ 31,927 $ 7,421 $ 787 $ 24,697 $ 124,035 Originated loans collectively evaluated for impairment 5,425,394 2,126,300 586,895 435,540 2,688,132 1,173,381 167,789 628,446 13,231,877 Total ending originated loan balance $ 5,471,363 $ 2,138,372 $ 586,895 $ 436,702 $ 2,720,059 $ 1,180,802 $ 168,576 $ 653,143 $ 13,355,912 The following table presents the originated ALL and the recorded investment as of December 31, 2015 : As of December 31, 2015 (In thousands) Originated Loans C&I CRE Construction Leases Installment Home Equity Lines Credit Cards Residential Mortgages Total Ending allowance for originated loan losses balance attributable to loans: Individually evaluated for impairment $ 11,837 $ 128 $ — $ — $ 1,009 $ 188 $ 243 $ 944 $ 14,349 Collectively evaluated for impairment 32,923 9,503 1,594 1,313 13,174 19,906 8,588 3,785 90,786 Total ending allowance for originated loan losses balance $ 44,760 $ 9,631 $ 1,594 $ 1,313 $ 14,183 $ 20,094 $ 8,831 $ 4,729 $ 105,135 Originated loans: Loans individually evaluated for impairment $ 43,818 $ 16,614 $ — $ — $ 36,904 $ 7,080 $ 717 $ 23,905 $ 129,038 Loans collectively evaluated for impairment 5,749,590 2,060,730 645,337 491,741 2,953,445 1,241,358 182,126 665,140 13,989,467 Total ending originated loan balance $ 5,793,408 $ 2,077,344 $ 645,337 $ 491,741 $ 2,990,349 $ 1,248,438 $ 182,843 $ 689,045 $ 14,118,505 |
Allowance for acquired impaired loan losses | The following table presents activity in the allowance for acquired impaired loan losses for the three and six months ended June 30, 2016 and 2015 : Allowance for Acquired Impaired Loan Losses Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of the period $ 4,423 $ 7,493 $ 3,877 $ 7,457 Charge-offs (19 ) — (19 ) — Recoveries — — — Provision/(recapture) for loan losses (148 ) (2,543 ) 398 (2,507 ) Balance at end of the period $ 4,256 $ 4,950 $ 4,256 $ 4,950 |
Schedule of Credit Losses for Financing Receivables, Current | The following table presents activity in the allowance for FDIC acquired impaired loan losses for the three and six months ended June 30, 2016 and 2015 : Allowance for FDIC acquired Impaired Loan Losses Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of the period $ 44,599 $ 41,514 $ 44,679 $ 40,496 Net provision/(recapture) of loan losses before benefit attributable to FDIC loss share agreements (227 ) 928 1,310 5,153 Net (benefit)/recapture attributable to FDIC loss share agreements 12 (1,819 ) (257 ) (6,046 ) Net provision/(recapture) for loan losses (215 ) (891 ) 1,053 (893 ) Increase/(decrease) in loss share receivable (12 ) 1,819 257 6,046 Loans charged-off (4,154 ) (815 ) (5,771 ) (4,022 ) Balance at end of the period $ 40,218 $ 41,627 $ 40,218 $ 41,627 |
Impaired Financing Receivables | The following tables provide further detail on impaired loans individually evaluated for impairment and the associated ALL. Certain impaired loans do not have a related ALL as the valuation of these impaired loans exceeded the recorded investment. As of June 30, 2016 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 19,489 $ 22,663 $ — $ 29,022 CRE 26,058 24,696 — 17,119 Construction 512 512 — 102 Leases — — — — Consumer Installment 2,366 2,697 — 1,636 Home equity line 695 948 — 694 Credit card 15 15 — 19 Residential mortgages 11,950 14,350 — 11,680 Subtotal 61,085 65,881 — 60,272 Impaired loans with a related allowance Commercial C&I 43,218 51,933 10,447 21,305 CRE 3,481 3,563 507 1,999 Construction — — — — Leases — — — — Consumer Installment 39,906 40,033 1,149 35,473 Home equity line 7,179 7,180 169 6,803 Credit card 664 664 201 699 Residential mortgages 11,435 11,549 981 12,201 Subtotal 105,883 114,922 13,454 78,480 Total impaired loans $ 166,968 $ 180,803 $ 13,454 $ 138,752 Note 1: These tables exclude loans fully charged-off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. As of December 31, 2015 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 21,066 $ 23,854 $ — $ 27,215 CRE 15,465 17,456 — 13,031 Construction — — — — Consumer Installment 1,369 1,658 — 1,807 Home equity line 670 919 — 999 Credit card 21 21 — 20 Residential mortgages 11,550 13,901 — 11,979 Subtotal 50,141 57,809 — 55,051 Impaired loans with a related allowance Commercial C&I 22,752 28,881 11,837 11,284 CRE 1,149 1,173 128 3,037 Construction — — — — Consumer Installment 35,535 35,592 1,009 28,808 Home equity line 6,410 6,411 188 6,382 Credit card 696 696 243 757 Residential mortgages 12,355 12,458 944 12,619 Subtotal 78,897 85,211 14,349 62,887 Total impaired loans $ 129,038 $ 143,020 $ 14,349 $ 117,938 Note 1: These tables exclude loans fully charged-off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. As of June 30, 2015 Originated Loans Unpaid Average Recorded Principal Related Recorded (In thousands) Investment Balance Allowance Investment Impaired loans with no related allowance Commercial C&I $ 28,076 $ 37,358 $ — $ 27,238 CRE 11,482 17,585 — 12,983 Construction — — — — Leases 1,162 1,162 — 598 Consumer Installment 1,678 2,183 — 1,753 Home equity line 884 1,132 — 906 Credit card 19 19 — 26 Residential mortgages 12,047 14,700 — 12,146 Subtotal 55,348 74,139 — 55,650 Impaired loans with a related allowance Commercial C&I 17,893 18,062 9,117 7,199 CRE 590 593 151 600 Construction — — — — Consumer Installment 30,249 30,302 1,001 25,722 Home equity line 6,537 6,537 217 6,684 Credit card 768 768 250 823 Residential mortgages 12,650 12,739 890 12,675 Subtotal 68,687 69,001 11,626 53,703 Total impaired loans $ 124,035 $ 143,140 $ 11,626 $ 109,353 Note 1: These tables exclude loans fully charged-off. Note 2: The differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. |
Troubled Debt Restructurings on Financing Receivables | The following tables provide the number of loans modified in a TDR and the recorded investment and unpaid principal balance by loan portfolio as of June 30, 2016 , December 31, 2015 , and June 30, 2015 . As of June 30, 2016 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 27 $ 36,650 $ 39,985 CRE 26 20,005 22,025 Construction 0 — — Total originated commercial 53 56,655 62,010 Consumer Installment 1,310 42,272 42,730 Home equity lines 260 7,874 8,128 Credit card 197 679 679 Residential mortgages 303 23,385 25,899 Total originated consumer 2,070 74,210 77,436 Total originated loans 2,123 $ 130,865 $ 139,446 Acquired loans Commercial C&I 0 $ — $ — CRE 6 4,998 5,453 Construction 0 — — Total acquired commercial 6 4,998 5,453 Consumer Installment 67 1,585 1,661 Home equity lines 173 7,520 7,583 Residential mortgages 32 2,899 3,216 Total acquired consumer 272 12,004 12,460 Total acquired loans 278 $ 17,002 $ 17,913 FDIC acquired loans Commercial C&I 0 $ — $ — CRE 3 13,124 11,417 Construction 1 566 672 Total FDIC acquired commercial 4 13,690 12,089 Consumer Home equity lines 71 8,529 8,544 Residential mortgages 0 — — Total FDIC acquired consumer 71 8,529 8,544 Total FDIC acquired loans 75 $ 22,219 $ 20,633 Total loans Commercial C&I 27 $ 36,650 $ 39,985 CRE 35 38,127 38,895 Construction 1 566 672 Total commercial 63 75,343 79,552 Consumer Installment 1,377 43,857 44,391 Home equity lines 504 23,923 24,255 Credit card 197 679 679 Residential mortgages 335 26,284 29,115 Total consumer 2,413 94,743 98,440 Total loans 2,476 $ 170,086 $ 177,992 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs and remaining purchase discount. As of December 31, 2015 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 26 $ 33,087 $ 33,740 CRE 24 14,671 16,648 Construction 0 — — Total originated commercial 50 47,758 50,388 Consumer Installment 1,223 36,904 37,250 Home equity lines 257 7,080 7,330 Credit card 212 717 717 Residential mortgages 312 23,905 26,359 Total originated consumer 2,004 68,606 71,656 Total originated loans 2,054 $ 116,364 $ 122,044 Acquired loans Commercial C&I 1 7,611 7,611 CRE 3 918 1,044 Total acquired commercial 4 8,529 8,655 Consumer Installment 51 1,117 1,211 Home equity lines 176 7,718 7,778 Residential mortgages 31 2,154 2,382 Total acquired consumer 258 10,989 11,371 Total acquired loans 262 $ 19,518 $ 20,026 FDIC acquired loans Commercial C&I 0 $ — $ — CRE 3 14,056 12,479 Construction 1 593 682 Total FDIC acquired commercial 4 14,649 13,161 Consumer Home equity lines 81 10,215 10,281 Residential Mortgages 1 182 182 Total FDIC acquired consumer 82 10,397 10,463 Total FDIC acquired loans 86 $ 25,046 $ 23,624 Total loans Commercial C&I 27 $ 40,698 $ 41,351 CRE 30 29,645 30,171 Construction 1 593 682 Total commercial 58 70,936 72,204 Consumer Installment 1,274 38,021 38,461 Home equity lines 514 25,013 25,389 Credit card 212 717 717 Residential mortgages 344 26,241 28,923 Total consumer 2,344 89,992 93,490 Total loans 2,402 $ 160,928 $ 165,694 Note 1: For originated loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs. Note 2: For acquired and FDIC acquired loans, the differences between the recorded investment and unpaid principal balance amounts represent partial charge-offs and remaining purchase discount. As of June 30, 2015 (Dollars in thousands) Number of Loans Recorded Investment Unpaid Principal Balance Originated loans Commercial C&I 56 $ 29,454 $ 36,538 CRE 69 10,362 15,681 Construction 31 — — Total originated commercial 156 39,816 52,219 Consumer Installment 1,215 31,927 32,485 Home equity lines 271 7,421 7,669 Credit card 231 787 787 Residential mortgages 316 24,697 27,439 Total originated consumer 2,033 64,832 68,380 Total originated loans 2,189 $ 104,648 $ 120,599 Acquired loans Commercial C&I 2 — 55 CRE 3 930 1,018 Total acquired commercial 5 930 1,073 Consumer Installment 50 1,144 1,227 Home equity lines 174 7,138 7,205 Residential mortgages 31 2,150 2,386 Total acquired consumer 255 10,432 10,818 Total acquired loans 260 $ 11,362 $ 11,891 FDIC acquired loans Commercial C&I 8 $ — $ 1,299 CRE 24 11,704 27,933 Construction 9 525 9,542 Total FDIC acquired commercial 41 12,229 38,774 Consumer Home equity lines 77 10,563 10,739 Residential mortgages 1 184 184 Total FDIC acquired consumer 78 10,747 10,923 Total FDIC acquired loans 119 $ 22,976 $ 49,697 Total loans Commercial C&I 66 $ 29,454 $ 37,892 CRE 96 22,996 44,632 Construction 40 525 9,542 Total commercial 202 52,975 92,066 Consumer Installment 1,265 33,071 33,712 Home equity lines 522 25,122 25,613 Credit card 231 787 787 Residential mortgages 348 27,031 30,009 Total consumer 2,366 86,011 90,121 Total loans 2,568 $ 138,986 $ 182,187 |
Accruing and Nonaccruing Troubled Debt Restructurings | The following tables provide a summary of the delinquency status of TDRs along with the specific allowance for loan loss, by loan type, as of June 30, 2016 , December 31, 2015 , and June 30, 2015 , including TDRs that continue to accrue interest and TDRs included in nonperforming assets. As of June 30, 2016 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 16,082 $ 969 $ 17,051 $ 13,068 $ 6,531 $ 19,599 $ 36,650 $ 4,917 CRE 8,851 93 8,944 111 10,950 11,061 20,005 5 Construction — — — — — — — — Total originated commercial 24,933 1,062 25,995 13,179 17,481 30,660 56,655 4,922 Consumer Installment 39,255 1,064 40,319 1,718 235 1,953 42,272 1,149 Home equity lines 7,017 79 7,096 778 — 778 7,874 169 Credit card 519 117 636 — 43 43 679 201 Residential mortgages 14,324 524 14,848 5,717 2,820 8,537 23,385 981 Total originated consumer 61,115 1,784 62,899 8,213 3,098 11,311 74,210 2,500 Total originated TDRs $ 86,048 $ 2,846 $ 88,894 $ 21,392 $ 20,579 $ 41,971 $ 130,865 $ 7,422 Acquired loans Commercial C&I $ — $ — $ — $ — $ — $ — $ — $ — CRE 2,720 — 2,720 2,151 127 2,278 4,998 156 Construction — — — — — — — — Total acquired commercial 2,720 — 2,720 2,151 127 2,278 4,998 156 Consumer Installment 1,142 223 1,365 220 — 220 1,585 86 Home equity lines 6,820 583 7,403 117 — 117 7,520 115 Residential mortgages 2,259 — 2,259 640 — 640 2,899 176 Total acquired consumer 10,221 806 11,027 977 — 977 12,004 377 Total acquired TDRs $ 12,941 $ 806 $ 13,747 $ 3,128 $ 127 $ 3,255 $ 17,002 $ 533 FDIC acquired loans Commercial C&I $ — $ — $ — $ — $ — $ — $ — $ — CRE — — — — 13,124 13,124 13,124 2,236 Construction — — — 566 — 566 566 25 Total FDIC acquired commercial — — — 566 13,124 13,690 13,690 2,261 Consumer Home equity lines 8,392 87 8,479 50 — 50 8,529 21 Residential mortgages — — — — — — — — Total FDIC acquired consumer 8,392 87 8,479 50 — 50 8,529 21 Total FDIC acquired TDRs $ 8,392 $ 87 $ 8,479 $ 616 $ 13,124 $ 13,740 $ 22,219 $ 2,282 Total loans Commercial C&I $ 16,082 $ 969 $ 17,051 $ 13,068 $ 6,531 $ 19,599 $ 36,650 $ 4,917 CRE 11,571 93 11,664 2,262 24,201 26,463 38,127 2,397 Construction — — — 566 — 566 566 25 Total commercial 27,653 1,062 28,715 15,896 30,732 46,628 75,343 7,339 Consumer Installment 40,397 1,287 41,684 1,938 235 2,173 43,857 1,235 Home equity lines 22,229 749 22,978 945 — 945 23,923 305 Credit card 519 117 636 — 43 43 679 201 Residential mortgages 16,583 524 17,107 6,357 2,820 9,177 26,284 1,157 Total consumer 79,728 2,677 82,405 9,240 3,098 12,338 94,743 2,898 Total TDRs $ 107,381 $ 3,739 $ 111,120 $ 25,136 $ 33,830 $ 58,966 $ 170,086 $ 10,237 As of December 31, 2015 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 22,566 $ 107 $ 22,673 $ 4,229 $ 6,185 $ 10,414 $ 33,087 $ 6,052 CRE 10,271 2,247 12,518 746 1,407 2,153 14,671 20 Construction — — — — — — — — Total originated commercial 32,837 2,354 35,191 4,975 7,592 12,567 47,758 6,072 Consumer Installment 34,902 794 35,696 1,125 83 1,208 36,904 1,009 Home equity lines 6,511 114 6,625 399 56 455 7,080 188 Credit card 575 140 715 — 2 2 717 243 Residential mortgages 12,869 2,896 15,765 4,611 3,529 8,140 23,905 944 Total originated consumer 54,857 3,944 58,801 6,135 3,670 9,805 68,606 2,384 Total originated TDRs $ 87,694 $ 6,298 $ 93,992 $ 11,110 $ 11,262 $ 22,372 $ 116,364 $ 8,456 Acquired loans Commercial C&I $ 7,611 $ — $ 7,611 $ — $ — $ — $ 7,611 $ — CRE — — — 659 259 918 918 201 Total acquired commercial 7,611 — 7,611 659 259 918 8,529 201 Consumer Installment 967 126 1,093 14 10 24 1,117 45 Home equity lines 6,941 655 7,596 122 — 122 7,718 70 Residential mortgages 1,096 256 1,352 802 — 802 2,154 — Total acquired consumer 9,004 1,037 10,041 938 10 948 10,989 115 Total acquired TDRs $ 16,615 $ 1,037 $ 17,652 $ 1,597 $ 269 $ 1,866 $ 19,518 $ 316 FDIC acquired loans Commercial C&I $ — $ — $ — $ — $ — $ — $ — $ — CRE — 14,056 14,056 — — — 14,056 2,333 Construction 593 — 593 — — — 593 — Total FDIC acquired commercial 593 14,056 14,649 — — — 14,649 2,333 Consumer Home equity lines 10,065 70 10,135 6 74 80 10,215 23 Residential mortgages 182 — 182 — — — 182 — Total FDIC acquired consumer 10,247 70 10,317 6 74 80 10,397 23 Total FDIC acquired TDRs $ 10,840 $ 14,126 $ 24,966 $ 6 $ 74 $ 80 $ 25,046 $ 2,356 Total Loans Commercial C&I $ 30,177 $ 107 $ 30,284 $ 4,229 $ 6,185 $ 10,414 $ 40,698 $ 6,052 CRE 10,271 16,303 26,574 1,405 1,666 3,071 29,645 2,554 Construction 593 — 593 — — — 593 — Total commercial 41,041 16,410 57,451 5,634 7,851 13,485 70,936 8,606 Consumer Installment 35,869 920 36,789 1,139 93 1,232 38,021 1,054 Home equity lines 23,517 839 24,356 527 130 657 25,013 281 Credit card 575 140 715 — 2 2 717 243 Residential mortgages 14,147 3,152 17,299 5,413 3,529 8,942 26,241 944 Total consumer 74,108 5,051 79,159 7,079 3,754 10,833 89,992 2,522 Total TDRs $ 115,149 $ 21,461 $ 136,610 $ 12,713 $ 11,605 $ 24,318 $ 160,928 $ 11,128 As of June 30, 2015 Accruing TDRs Nonaccruing TDRs Total Total (In thousands) Current Delinquent Total Current Delinquent Total TDRs Allowance Originated loans Commercial C&I $ 17,346 $ — $ 17,346 $ 9,260 $ 2,848 $ 12,108 $ 29,454 $ 2,893 CRE 5,968 — 5,968 1,598 2,796 4,394 10,362 63 Construction — — — — — — — — Total originated commercial 23,314 — 23,314 10,858 5,644 16,502 39,816 2,956 Consumer Installment 29,715 603 30,318 1,390 219 1,609 31,927 1,001 Home equity lines 6,611 107 6,718 557 146 703 7,421 217 Credit card 684 100 784 — 3 3 787 250 Residential mortgages 13,925 2,105 16,030 4,957 3,710 8,667 24,697 890 Total originated consumer 50,935 2,915 53,850 6,904 4,078 10,982 64,832 2,358 Total originated TDRs $ 74,249 $ 2,915 $ 77,164 $ 17,762 $ 9,722 $ 27,484 $ 104,648 $ 5,314 Acquired loans Commercial C&I $ — $ — $ — $ — $ — $ — $ — $ — CRE — — — 930 — 930 930 98 Total acquired commercial — — — 930 — 930 930 98 Consumer Installment 1,082 47 1,129 15 — 15 1,144 44 Home equity lines 6,387 618 7,005 133 — 133 7,138 — Residential mortgages 1,313 — 1,313 615 222 837 2,150 — Total acquired consumer 8,782 665 9,447 763 222 985 10,432 44 Total acquired TDRs $ 8,782 $ 665 $ 9,447 $ 1,693 $ 222 $ 1,915 $ 11,362 $ 142 FDIC acquired loans Commercial C&I $ — $ — $ — $ — $ — $ — $ — $ — CRE — 11,704 11,704 — — — 11,704 2,393 Construction 525 — 525 — — — 525 96 Total FDIC acquired commercial 525 11,704 12,229 — — — 12,229 2,489 Consumer Home equity lines 9,505 89 9,594 143 826 969 10,563 23 Residential mortgages 184 — 184 — — — 184 — Total FDIC acquired consumer 9,689 89 9,778 143 826 969 10,747 23 Total FDIC acquired TDRs $ 10,214 $ 11,793 $ 22,007 $ 143 $ 826 $ 969 $ 22,976 $ 2,512 Total loans Commercial C&I $ 17,346 $ — $ 17,346 $ 9,260 $ 2,848 $ 12,108 $ 29,454 $ 2,893 CRE 5,968 11,704 17,672 2,528 2,796 5,324 22,996 2,554 Construction 525 — 525 — — — 525 96 Total commercial 23,839 11,704 35,543 11,788 5,644 17,432 52,975 5,543 Consumer Installment 30,797 650 31,447 1,405 219 1,624 33,071 1,045 Home equity lines 22,503 814 23,317 833 972 1,805 25,122 240 Credit card 684 100 784 — 3 3 787 250 Residential mortgages 15,422 2,105 17,527 5,572 3,932 9,504 27,031 890 Total consumer 69,406 3,669 73,075 7,810 5,126 12,936 86,011 2,425 Total TDRs $ 93,245 $ 15,373 $ 108,618 $ 19,598 $ 10,770 $ 30,368 $ 138,986 $ 7,968 |
Schedule of Debtor Troubled Debt Restructuring, Current Period | The following tables provide the number of loans modified in a TDR within the previous 12 months that subsequently defaulted during the three months ended June 30, 2016 and June 30, 2015 , as well as the amount defaulted in these restructured loans. Three Months Ended June 30, 2016 (Dollars in thousands) Number of Loans Amount Defaulted Originated loans Commercial C&I 0 $ — CRE 0 — Construction 0 — Total originated commercial 0 $ — Consumer Installment 2 $ 15 Home equity lines 0 — Credit card 0 — Residential mortgages 0 — Total originated consumer 2 $ 15 FDIC acquired loans Commercial C&I 0 $ — CRE 0 — Construction 0 — Total FDIC acquired commercial 0 $ — Acquired loans Commercial C&I 0 $ — CRE 0 — Construction 0 — Total acquired commercial 0 $ — Consumer Installment 0 $ — Home equity lines 0 — Residential mortgages 0 — Total acquired consumer — $ — Total loans Commercial C&I 0 $ — CRE 0 — Construction 0 — Total commercial 0 $ — Consumer Installment 2 $ 15 Home equity lines 0 — Credit card 0 — Residential mortgages 0 — Total consumer 2 $ 15 Total 2 $ 15 Three Months Ended June 30, 2015 (Dollars in thousands) Number of Loans Recorded Investment Originated loans Commercial C&I 0 $ — CRE 0 — Construction 0 — Total originated commercial 0 $ — Consumer Installment 1 $ 6 Home equity lines 0 — Credit card 1 1 Residential mortgages 1 368 Total originated consumer 3 $ 375 FDIC acquired loans Commercial C&I 0 $ — CRE 0 — Construction 0 — Total FDIC acquired commercial 0 $ — Acquired loans Commercial C&I 0 $ — CRE 0 — Construction 0 — Total acquired commercial 0 $ — Consumer Installment 1 $ 33 Home equity lines 0 — Residential mortgages 0 — Total acquired consumer 1 $ 33 Total loans Commercial C&I 0 $ — CRE 0 — Construction 0 — Total commercial 0 $ — Consumer Installment 2 $ 39 Home equity lines 0 — Credit card 1 1 Residential mortgages 1 368 Total consumer 4 $ 408 Total 4 $ 408 |
Goodwill and Other Intangible27
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Accumulated amortization of intangible assets | The Corporation has other intangible assets that are amortized, consisting of core deposit intangibles, lease intangibles and trust relationship intangibles. The following tables show the gross carrying amount, accumulated amortization, and net carrying amount of these intangible assets. June 30, 2016 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (32,083 ) $ 50,240 Lease intangible 238 (229 ) 9 Trust Relationships (2) 14,000 (8,229 ) 5,771 $ 96,561 $ (40,541 ) $ 56,020 December 31, 2015 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (28,304 ) $ 54,019 Lease intangible 238 (212 ) 26 Trust Relationships (2) 14,000 (7,417 ) 6,583 $ 96,561 $ (35,933 ) $ 60,628 June 30, 2015 Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Amount Core deposit intangibles (1) $ 82,323 $ (24,150 ) $ 58,173 Lease intangible 238 (194 ) 44 Trust relationships (2) 14,000 (6,393 ) 7,607 $ 96,561 $ (30,737 ) $ 65,824 (1) Core deposit intangibles are amortized on an accelerated basis over their estimated useful lives, which range from 10 - 15 years. (2) Trust relationship intangibles are amortized on an accelerated basis on their estimated useful lives of 12 years . |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The reconciliation between basic and diluted EPS using the two-class method and treasury stock method is presented as follows: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share amounts) 2016 2015 2016 2015 Basic EPS: Net income $ 58,309 $ 56,584 $ 112,445 $ 113,723 Less: Cash dividends on 5.875% non-cumulative perpetual series A, Preferred Stock 1,469 1,469 2,938 2,938 Income allocated to participating securities 496 467 955 937 Net income attributable to common shareholders $ 56,344 $ 54,648 $ 108,552 $ 109,848 Weighted average Common Stock outstanding used in basic EPS 166,188 165,736 165,966 165,574 Basic net income per common share $ 0.34 $ 0.33 $ 0.65 $ 0.66 Diluted EPS: Income used in diluted earnings per common share calculation $ 56,344 $ 54,648 $ 108,552 $ 109,848 Weighted average Common Stock outstanding used in basic EPS 166,188 165,736 165,966 165,574 Add: Common Stock equivalents Employee stock award plans 619 541 597 515 Weighted average Common and Common Stock equivalent shares outstanding 166,807 166,277 166,563 166,089 Diluted net income per common share $ 0.34 $ 0.33 $ 0.65 $ 0.66 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Segment Reporting [Abstract] | |
Lines of business results and key performance measures | The following tables present a summary of financial results as of and for the three and six months ended June 30, 2016 and June 30, 2015 : FirstMerit (In thousands) Commercial Retail Wealth Other Consolidated June 30, 2016 QTD YTD QTD YTD QTD YTD QTD YTD QTD YTD OPERATIONS: Net interest income/(loss) $ 101,313 $ 203,932 $ 94,369 $ 189,096 $ 6,314 $ 12,867 $ (15,918 ) $ (34,661 ) $ 186,078 $ 371,234 Provision/ (recapture) for loan losses 1,070 6,842 5,123 9,169 (20 ) (175 ) 218 (1,636 ) 6,391 14,200 Noninterest income 20,782 41,961 22,079 45,673 15,129 29,437 7,125 15,438 65,115 132,509 Noninterest expense 57,201 118,221 84,880 173,575 13,883 27,236 4,356 8,251 160,320 327,283 Net income/(loss) 41,486 78,539 17,189 33,816 4,927 9,908 (5,293 ) (9,818 ) 58,309 112,445 AVERAGES: Assets $ 9,600,103 $ 9,596,152 $ 6,370,350 $ 6,301,303 $ 314,752 $ 310,159 $ 9,638,361 $ 9,639,033 $ 25,923,566 $ 25,846,647 Loans 9,721,866 9,715,827 6,173,352 6,097,054 306,028 301,586 41,656 46,706 16,242,902 16,161,173 Earning assets 10,081,198 10,077,716 6,178,619 6,103,154 306,028 301,586 6,555,458 6,523,236 23,121,303 23,005,692 Deposits 7,269,121 7,373,805 11,003,769 11,014,512 1,284,516 1,302,113 1,410,044 1,111,129 20,967,450 20,801,559 Economic capital 1,251,845 1,252,069 867,958 870,360 121,824 126,706 770,591 742,055 3,012,218 2,991,190 FirstMerit (In thousands) Commercial Retail Wealth Other Consolidated June 30, 2015 QTD YTD QTD YTD QTD YTD QTD YTD QTD YTD OPERATIONS: Net interest income/(loss) $ 101,342 $ 202,830 $ 92,501 $ 184,527 $ 5,452 $ 10,932 $ (14,177 ) $ (27,548 ) $ 185,118 $ 370,741 Provision/ (recapture) for loan losses 2,285 1,759 8,447 15,981 (1 ) (171 ) (1,765 ) (355 ) 8,966 17,214 Noninterest income 21,918 44,408 23,964 45,701 14,816 28,792 5,884 13,528 66,582 132,429 Noninterest expense 61,032 122,685 87,799 176,070 13,461 27,181 (618 ) (3,610 ) 161,674 322,326 Net income/(loss) 38,963 79,816 13,142 24,815 4,425 8,264 54 828 56,584 113,723 AVERAGES: Assets $ 9,437,824 $ 9,445,975 $ 5,951,665 $ 5,898,835 $ 290,798 $ 296,461 $ 9,449,572 $ 9,374,463 $ 25,129,859 $ 25,015,734 Loans 9,533,843 9,520,262 5,702,015 5,636,666 281,013 286,484 60,490 59,274 15,577,361 15,502,686 Earning assets 9,828,867 9,811,770 5,707,400 5,645,469 281,013 286,484 6,535,441 6,483,544 22,352,721 22,227,267 Deposits 6,777,434 6,831,887 11,105,954 11,115,005 1,188,563 1,214,617 610,711 573,990 19,682,662 19,735,499 Economic capital 1,355,049 1,349,289 767,803 763,446 111,770 109,969 657,810 656,765 2,892,432 2,879,469 |
Derivatives and Hedging Activ30
Derivatives and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments Designated as Hedging Instruments | At June 30, 2016 , December 31, 2015 , and June 30, 2015 , the notional values or contractual amounts and fair value of the Corporation's derivatives designated in hedge relationships were as follows: Asset Derivatives Liability Derivatives June 30, 2016 December 31, 2015 June 30, 2015 June 30, 2016 December 31, 2015 June 30, 2015 (In thousands) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Interest rate swaps: Commercial loan swaps (FRAPS) $ — $ — $ — $ — $ — $ — $ 50,668 $ 2,772 $ 55,689 $ 3,536 $ 75,794 $ 5,104 Sub debt swap 250,000 29,760 250,000 8,739 250,000 1,153 — — — — — — Fair value hedges $ 250,000 $ 29,760 $ 250,000 $ 8,739 $ 250,000 $ 1,153 $ 50,668 $ 2,772 $ 55,689 $ 3,536 $ 75,794 $ 5,104 ( 1) Included in "Other assets" on the Consolidated Balance Sheets (2) Included in "Other liabilities" on the Consolidated Balance Sheet |
Derivative Instruments not Designated as Hedging Instruments | As of June 30, 2016 , December 31, 2015 , and June 30, 2015 , the notional values or contractual amounts and fair value of the Corporation's derivatives not designated in hedge relationships were as follows: Asset Derivatives Liability Derivatives June 30, 2016 December 31, 2015 June 30, 2015 June 30, 2016 December 31, 2015 June 30, 2015 (In thousands) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (1) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Notional/ Contract Amount Fair Value (2) Interest rate swaps $ 1,904,459 $ 87,575 $ 1,824,576 $ 48,920 $ 1,726,600 $ 46,216 $ 1,904,459 $ 87,575 $ 1,824,576 $ 48,920 $ 1,726,600 $ 46,216 Mortgage loan commitments 32,802 253 20,635 149 52,024 342 — — — — — — Forward sales contracts — — — — 15,200 106 8,059 61 9,659 5 — — Credit contracts — — — — — — 74,945 7 73,715 — 73,512 — Foreign exchange 20,180 254 13,671 299 29,687 256 18,571 207 11,706 284 15,823 177 Equity swap — — — — — — 35,034 — 36,631 — 31,718 — Total $ 1,957,441 $ 88,082 $ 1,858,882 $ 49,368 $ 1,823,511 $ 46,920 $ 2,041,068 $ 87,850 $ 1,956,287 $ 49,209 $ 1,847,653 $ 46,393 (1) Included in "Other assets" on the Consolidated Balance Sheets (2) Included in "Other liabilities" on the Consolidated Balance Sheets |
Derivative Instruments, Gain (Loss) | Gains and losses recognized in income on non-designated hedging instruments for the three and six months ended June 30, 2016 and 2015 are as follows: Derivatives not instruments Location of Gain/(Loss) Derivative Amount of Gain / (Loss) Recognized in Income on Derivatives (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Mortgage loan commitments Loan sales and servicing income $ 12 $ (46 ) $ 105 $ (1,066 ) Forward sales contracts Loan sales and servicing income 20 175 (56 ) 378 Foreign exchange contracts Other operating income 766 165 1,585 (712 ) Equity swap Other operating expense — — — — Total $ 798 $ 294 $ 1,634 $ (1,400 ) |
Offsetting disclosure for derivatives contracts | The following tables illustrate the potential effect of the Corporation's derivative master netting arrangements, by type of financial instrument, on the Corporation's statement of financial position as of June 30, 2016 , December 31, 2015 , and June 30, 2015 . The swap agreements the Corporation has in place with its commercial customers are not subject to enforceable master netting arrangements, and, therefore, are excluded from these tables. As of June 30, 2016 Gross amounts recognized Gross amounts offset in the consolidated balance sheet Net amounts presented in the consolidated balance sheet Gross amounts not offset in the consolidated balance sheet Net amount (In thousands) Financial instruments (1) Collateral (2) Derivative Assets Interest rate swaps - designated $ 29,760 $ — $ 29,760 $ — $ — $ 29,760 Interest rate swaps - non-designated 3 $ — 3 (3 ) — — Foreign exchange 76 — 76 (76 ) — — Total derivative assets $ 29,839 $ — $ 29,839 $ (79 ) $ — $ 29,760 Derivative liabilities Interest rate swaps - designated $ 2,772 $ — $ 2,772 $ — $ (2,772 ) $ — Interest rate swaps - non-designated 87,572 — 87,572 (3 ) (87,569 ) — Foreign exchange 131 — 131 (76 ) (55 ) — Total derivative liabilities $ 90,475 $ — $ 90,475 $ (79 ) $ (90,396 ) $ — As of December 31, 2015 Gross amounts recognized Gross amounts offset in the consolidated balance sheet Net amounts presented in the consolidated balance sheet Gross amounts not offset in the consolidated balance sheet Net amount (In thousands) Financial instruments (1) Collateral (2) Derivative assets Interest rate swaps - designated $ 8,739 $ — $ 8,739 $ — $ — $ 8,739 Interest rate swaps - non-designated 155 — 155 (155 ) — — Foreign exchange 270 — 270 (32 ) (238 ) — Total derivative assets $ 9,164 $ — $ 9,164 $ (187 ) $ (238 ) $ 8,739 Derivative liabilities Interest rate swaps - designated $ 3,536 $ — $ 3,536 $ — $ (3,536 ) $ — Interest rate swaps - non-designated 48,765 — 48,765 (155 ) (48,610 ) — Foreign exchange 32 — 32 (32 ) — — Total derivative liabilities $ 52,333 $ — $ 52,333 $ (187 ) $ (52,146 ) $ — As of June 30, 2015 Gross amounts recognized Gross amounts offset in the consolidated balance sheet Net amounts presented in the consolidated balance sheet Gross amounts not offset in the consolidated balance sheet Net amount (In thousands) Financial instruments (1) Collateral (2) Derivative assets Interest rate swaps - designated 1,153 — 1,153 — — 1,153 Interest rate swaps - non-designated $ 414 $ — $ 414 $ (414 ) $ — $ — Foreign exchange 164 — 164 (49 ) (115 ) — Total derivative assets $ 1,731 $ — $ 1,731 $ (463 ) $ (115 ) $ 1,153 Derivative liabilities Interest rate swaps - designated $ 5,104 $ — $ 5,104 $ — $ (5,104 ) $ — Interest rate swaps - non-designated 45,802 — 45,802 (414 ) (45,388 ) — Foreign exchange 49 — 49 (49 ) — — Total derivative liabilities $ 50,955 $ — $ 50,955 $ (463 ) $ (50,492 ) $ — (1) For derivative assets, this includes any derivative liability fair values that could be offset in the event of counterparty default. For derivative liabilities, this includes any derivative asset fair values that could be offset in the event of counterparty default. (2) For derivate assets, this includes the fair value of collateral received by the Corporation from the counterparty. Securities received as collateral are not included in the Consolidated Balance Sheets unless the counterparty defaults. For derivative liabilities, this includes the fair value of securities pledged by the Corporation to the counterparty. These securities are included in the Consolidated Balance Sheets unless the Corporation defaults. |
Benefit Plans (Tables)
Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Net Benefit Costs | The components of net periodic benefit cost are as follows: Pension Benefits Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Service cost $ 198 $ 207 $ 396 $ 415 Interest cost 3,649 3,517 7,298 7,035 Expected return on assets (3,788 ) (3,902 ) (7,576 ) (7,804 ) Amortization of unrecognized prior service costs 75 570 150 1,140 Amortization of actuarial losses/(gains) 830 1,057 1,660 2,113 Net periodic pension cost $ 964 $ 1,449 $ 1,928 $ 2,899 Postretirement Benefits Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Service cost $ 26 $ 41 $ 52 $ 83 Interest cost 64 144 127 288 Amortization of unrecognized prior service costs (636 ) (160 ) (1,271 ) (319 ) Amortization of actuarial losses/(gains) 245 81 490 163 Net periodic postretirement cost $ (301 ) $ 106 $ (602 ) $ 215 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Recurring and Nonrecurring Fair Value Measurements | The following tables present the balance of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of June 30, 2016 , December 31, 2015 , and June 30, 2015 : Fair Value by Hierarchy (In thousands) June 30, 2016 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,788 $ 2,788 $ — $ — U.S. treasury notes & bonds 4,997 — 4,997 — U.S. government agency debentures 2,528 — 2,528 — U.S. States and political subdivisions 151,547 — 151,547 — Residential mortgage-backed securities: U.S. government agencies 860,247 — 860,247 — Commercial mortgage-backed securities: U.S. government agencies 202,048 — 202,048 — Residential collateralized mortgage-backed securities: U.S. government agencies 2,353,018 — 2,353,018 — Non-agency 3 — — 3 Commercial collateralized mortgage-backed securities: U.S. government agencies 398,611 — 398,611 — Corporate debt securities 51,107 — — 51,107 Asset-backed securities: Collateralized loan obligations 291,794 — — 291,794 Total available for sale securities 4,318,688 2,788 3,972,996 342,904 Residential loans held for sale 3,962 — 3,962 — Derivative assets: Interest rate swaps - fair value hedges 29,760 — 29,760 — Interest rate swaps - nondesignated 87,575 — 87,575 — Mortgage loan commitments 253 — 253 — Foreign exchange 254 — 254 — Total derivative assets 117,842 — 117,842 — Total fair value of assets (1) $ 4,440,492 $ 2,788 $ 4,094,800 $ 342,904 Derivative liabilities: Interest rate swaps - fair value hedges $ 2,772 $ — $ 2,772 $ — Interest rate swaps - nondesignated 87,575 — 87,575 — Forward sales contracts 61 — 61 — Credit contracts 7 — 7 — Foreign exchange 207 — 207 — Total derivative liabilities 90,622 — 90,622 — True-up liability 16,170 — — 16,170 Total fair value of liabilities (1) $ 106,792 $ — $ 90,622 $ 16,170 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 15,954 $ — $ — $ 15,954 Impaired loans (3) 104,208 — — 104,208 Other property (4) 10,027 — — 10,027 Other real estate covered by loss share (5) 4 — — 4 Total nonrecurring fair value $ 130,193 $ — $ — $ 130,193 (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the three months ended June 30, 2016 . (2) MSRs with a recorded investment of $17.3 million were reduced by a specific valuation allowance totaling $1.5 million to a reported carrying value of $15.8 million resulting in recognition of $0.7 million in expense included in loan sales and servicing income in the three months ended June 30, 2016 . (3) At June 30, 2016 , collateral dependent impaired loans with a recorded investment of $116.1 million were reduced by specific valuation allowance allocations totaling $11.9 million to a reported net carrying value of $104.2 million . (4) Amounts do not include assets held at cost at June 30, 2016 . During the three months ended June 30, 2016 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.7 million included in noninterest expense. Fair Value by Hierarchy (In thousands) December 31, 2015 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,821 $ 2,821 $ — $ — U.S treasury notes & bonds 5,000 — 5,000 — U.S. government agency debentures 2,498 — 2,498 — U.S. States and political subdivisions 192,795 — 192,795 — Residential mortgage-backed securities: U.S. government agencies 906,229 — 906,229 — Commercial mortgage-backed securities: U.S. government agencies 172,109 — 172,109 — Residential collateralized mortgage-backed securities: U.S. government agencies 2,128,320 — 2,128,320 — Non-agency 4 — — 4 Commercial collateralized mortgage-backed securities: U.S. government agencies 216,319 — 216,319 — Corporate debt securities 52,229 — — 52,229 Asset-backed securities Collateralized loan obligations 289,411 — — 289,411 Total available-for-sale securities 3,967,735 2,821 3,623,270 341,644 Residential loans held for sale 5,472 — 5,472 — Derivative assets: Interest rate swaps - fair value hedges 8,739 — 8,739 — Interest rate swaps - nondesignated 48,920 — 48,920 — Mortgage loan commitments 149 — 149 — Foreign exchange 299 — 299 — Total derivative assets 58,107 — 58,107 — Total fair value of assets (1) $ 4,031,314 $ 2,821 $ 3,686,849 $ 341,644 Derivative liabilities: Interest rate swaps - fair value hedges $ 3,536 $ — $ 3,536 $ — Interest rate swaps - nondesignated 48,920 — 48,920 — Forward sale contracts 5 — 5 — Foreign exchange 284 — 284 — Total derivative liabilities 52,745 — 52,745 — True-up liability 14,750 — — 14,750 Total fair value of liabilities (1) $ 67,495 $ — $ 52,745 $ 14,750 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 19,149 $ — $ — $ 19,149 Impaired loans (3) 71,428 — — 71,428 Other property (4) 18,576 — — 18,576 Other real estate covered by loss share (5) 365 — — 365 Total nonrecurring fair value $ 109,518 $ — $ — $ 109,518 (1) There were no transfers between levels 1, 2 or 3 of the fair value hierarchy during the year ended December 31, 2015 . (2) MSRs with a recorded investment of $18.9 million were reduced by a specific valuation allowance totaling $0.4 million to a reported carrying value of $18.5 million resulting in a recovery of previously recognized expense of $0.6 million in recoveries included in loans sales and servicing income in the year ended December 31, 2015 . (3) At December 31, 2015 , collateral dependent impaired loans with a recorded investment of $84.3 million were reduced by specific valuation allowance allocations totaling $12.9 million to a reported net carrying value of $71.4 million . (4) Amounts do not include assets held at cost at December 31, 2015 . During the year ended December 31, 2015 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $4.5 million included in noninterest expense. (5) Amounts do not include assets held at cost at December 31, 2015 . During the year ended December 31, 2015 , the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.6 million included in noninterest expense. Fair Value by Hierarchy (In thousands) June 30, 2015 Level 1 Level 2 Level 3 Recurring fair value measurement Available-for-sale securities: Marketable equity securities $ 2,824 $ 2,824 $ — $ — U.S. treasury notes & bonds 5,005 — 5,005 — U.S. government agency debentures 2,510 — 2,510 — U.S. States and political subdivisions 207,617 — 207,617 — Residential mortgage-backed securities: U.S. government agencies 960,852 — 960,852 — Commercial mortgage-backed securities: U.S. government agencies 170,338 — 170,338 — Residential collateralized mortgage-backed securities: U.S. government agencies 1,949,389 — 1,949,389 — Non-agency 5 — — 5 Commercial collateralized mortgage-backed securities: U.S. government agencies 228,438 — 228,438 — Corporate debt securities 53,450 — — 53,450 Asset-backed securities: Collateralized loan obligations 258,081 — — 258,081 Total available-for-sale securities 3,838,509 2,824 3,524,149 311,536 Residential loans held for sale 5,432 — 5,432 — Derivative assets: Interest rate swaps - fair value hedges 1,153 — 1,153 — Interest rate swaps - nondesignated 46,216 — 46,216 — Mortgage loan commitments 342 — 342 — Forward sale contracts 106 — 106 — Foreign exchange 256 — 256 — Total derivative assets 48,073 — 48,073 — Total fair value of assets (1) $ 3,892,014 $ 2,824 $ 3,577,654 $ 311,536 Derivative liabilities: Interest rate swaps - fair value hedges $ 5,104 $ — $ 5,104 $ — Interest rate swaps - nondesignated 46,216 — 46,216 — Foreign exchange 177 — 177 — Total derivative liabilities 51,497 — 51,497 — True-up liability 13,408 — — 13,408 Total fair value of liabilities (1) $ 64,905 $ — $ 51,497 $ 13,408 Nonrecurring fair value measurement Mortgage servicing rights (2) $ 20,809 $ — $ — $ 20,809 Impaired loans (3) 72,580 — — 72,580 Other property (4) 33,078 — — 33,078 Other real estate covered by loss share (5) 4 — — 4 Total nonrecurring fair value $ 126,471 $ — $ — $ 126,471 (1) There were no transfers between levels 1, 2 and 3 of the fair value hierarchy during the three months ended June 30, 2015 . (2) MSRs with a recorded investment of $20.6 million were reduced by a specific valuation allowance totaling $0.5 million to a reported carrying value of $20.1 million resulting in recovery of a previously recognized expense of $0.6 million in the three months ended June 30, 2015 . (3) At June 30, 2015 , collateral dependent impaired loans with a recorded investment of $82.7 million were reduced by specific valuation allowance allocations totaling $10.2 million to a reported net carrying value of $72.6 million . (4) Amounts do not include assets held at cost at June 30, 2015 . During the three months ended June 30, 2015 , the re-measurement of foreclosed assets at fair value subsequent to initial recognition resulted in losses of $2.1 million included in noninterest expense. (5) Amounts do not include assets held at cost at June 30, 2015 . During the three months ended June 30, 2015 , the re-measurement of covered foreclosed assets at fair value subsequent to initial recognition resulted in losses of $0.2 million included in noninterest expense. |
Summary of changes in Level 3 assets and liabilities measured at fair value | The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2016 and 2015 are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Available-for-sale securities True-up liability Available-for-sale securities True-up liability Available-for-sale securities True-up liability Available-for-sale securities True-up liability Balance at beginning of period $ 334,157 $ 15,115 $ 346,685 $ 13,707 $ 341,644 $ 14,750 $ 339,187 $ 13,294 (Gains) losses included in earnings (1) — 1,055 — (299 ) — 1,420 — 114 Unrealized gains (losses) (2) 8,926 — 4,561 — 1,370 — 11,697 — Purchases — — 41,509 — — — 41,509 — Sales — — (71,832 ) — — — (71,832 ) — Settlements (179 ) — (9,387 ) — (110 ) — (9,025 ) — Balance at ending of period $ 342,904 $ 16,170 $ 311,536 $ 13,408 $ 342,904 $ 16,170 $ 311,536 $ 13,408 (1) Reported in "Other expense" (2) Reported in "Other comprehensive income (loss)" |
Summary of Change in fair value carrying amount of residential mortgages | The aggregate fair value, contractual balance and gain or loss on loans held for sale was as follows: (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 Aggregate fair value carrying amount $ 3,962 $ 5,472 $ 5,432 Aggregate unpaid principal / contractual balance 3,836 5,320 5,285 Carrying amount over aggregate unpaid principal (1) $ 126 $ 152 $ 147 (1) These changes are included in "Loan sales and servicing income" in the Consolidated Statements of Income. |
Fair Value of Financial Instruments | The carrying amount and estimated fair value of the Corporation’s financial instruments that are carried at either fair value or cost as of June 30, 2016 , December 31, 2015 , and June 30, 2015 are shown in the tables below. June 30, 2016 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 524,287 $ 524,287 $ 524,287 $ — $ — Available-for-sale securities 4,318,688 4,318,688 2,788 3,972,996 342,904 Held-to-maturity securities 2,514,161 2,545,740 — 2,545,740 — Other securities 148,367 148,367 — 148,367 — Loans held for sale 3,962 3,962 — 3,962 — Net originated loans 14,560,456 14,349,013 — — 14,349,013 Net acquired loans 1,484,380 1,532,344 — — 1,532,344 Net FDIC acquired loans and loss share receivable 149,121 149,121 — — 149,121 Accrued interest receivable 65,666 65,666 — 65,666 — Derivatives 117,842 117,842 — 117,842 — Financial liabilities: Deposits $ 20,952,643 $ 20,960,182 $ — $ 20,960,182 — Federal funds purchased and securities sold under agreements to repurchase 686,890 686,890 — 686,890 — Wholesale borrowings 468,447 473,187 — 473,187 — Long-term debt 526,389 522,151 — 522,151 — Accrued interest payable 10,632 10,632 — 10,632 — Derivatives 90,622 90,622 — 90,622 — December 31, 2015 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 463,817 $ 463,817 $ 463,817 $ — $ — Available-for-sale securities 3,967,735 3,967,735 2,821 3,623,270 341,644 Held-to-maturity securities 2,674,093 2,659,119 — 2,659,119 — Other securities 148,172 148,172 — 148,172 — Loans held for sale 5,472 5,472 — 5,472 — Net originated loans 14,013,370 13,795,058 — — 13,795,058 Net acquired loans 1,739,194 1,796,314 — — 1,796,314 Net FDIC acquired loans and loss share receivable 170,690 170,690 — — 170,690 Accrued interest receivable 67,887 67,887 — 67,887 — Derivatives 58,107 58,107 — 58,107 — Financial liabilities: Deposits $ 20,108,003 $ 20,116,298 $ — $ 20,116,298 $ — Federal funds purchased and securities sold under agreements to repurchase 1,037,075 1,037,075 — 1,037,075 — Wholesale borrowings 580,648 582,120 — 582,120 — Long-term debt 505,173 503,675 — 503,675 — Accrued interest payable 10,758 10,758 — 10,758 — Derivatives 52,745 52,745 — 52,745 — June 30, 2015 Carrying Amount Fair Value (In thousands) Total Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 587,589 $ 587,589 $ 587,589 $ — $ — Available-for-sale securities 3,838,509 3,838,509 2,824 3,524,149 311,536 Held-to-maturity securities 2,787,513 2,760,120 — 2,760,120 — Other securities 147,967 147,967 — 147,967 — Loans held for sale 5,432 5,432 — 5,432 — Net originated loans 13,254,230 13,077,485 — — 13,077,485 Net acquired loans 2,090,734 2,167,304 — — 2,167,304 Net FDIC acquired loans and loss share receivable 211,887 211,887 — — 211,887 Accrued interest receivable 66,501 66,501 — 66,501 — Derivatives 48,073 48,073 — 48,073 — Financial liabilities: Deposits $ 19,673,850 $ 19,681,270 $ — $ 19,681,270 $ — Federal funds purchased and securities sold under agreements to repurchase 1,519,250 1,519,250 — 1,519,250 — Wholesale borrowings 366,074 369,337 — 369,337 — Long-term debt 497,393 509,900 — 509,900 — Accrued interest payable 9,910 9,910 — 9,910 — Derivatives 51,497 51,497 — 51,497 — |
Mortgage Servicing Rights and33
Mortgage Servicing Rights and Mortgage Servicing Activity (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Transfers and Servicing [Abstract] | |
Changes in the carrying amount of mortgage servicing rights | Changes in the carrying amount of MSRs and MSRs valuation allowance are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Carrying amount of MSRs Beginning balance $ 18,127 $ 21,490 $ 18,938 $ 22,011 Additions 32 63 60 533 Amortization (849 ) (918 ) (1,688 ) (1,909 ) Ending balance 17,310 20,635 17,310 20,635 Valuation Allowance: Beginning balance (868 ) (1,131 ) (399 ) (955 ) Recoveries/(Additions) (681 ) 641 (1,150 ) 465 Ending balance (1,549 ) (490 ) (1,549 ) (490 ) MSRs, net carrying balance $ 15,761 $ 20,145 $ 15,761 $ 20,145 Fair value at end of period $ 15,954 $ 20,809 $ 15,954 $ 20,809 |
Changes in Key economics assumptions | In reality, changes in one factor may result in changes in another (for example, changes in prepayment speed estimates could result in changes in the discount rates), which might magnify or counteract the sensitivities. (Dollars in thousands) Prepayment speed assumption (annual CPR) 13.41 % Decrease in fair value from 10% adverse change $ 964 Decrease in fair value from 25% adverse change $ 1,242 Discount rate assumption 9.39 % Decrease in fair value from 100 basis point adverse change $ 463 Decrease in fair value from 200 basis point adverse change $ 898 Expected weighted-average life (in months) 85 |
Contingencies and Guarantees (T
Contingencies and Guarantees (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Commitments to Extend Credit | The Corporation's credit risk associated with these instruments is represented by the contractual amounts indicated in the following table. Unused commitments to extend credit (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 Commercial $ 3,505,383 $ 3,992,089 $ 3,746,824 Consumer 2,508,315 2,393,058 2,397,353 Total unused commitments to extend credit $ 6,013,698 $ 6,385,147 $ 6,144,177 |
Schedule of Guarantor Obligations | The Corporation is a guarantor in certain agreements with third parties. The Corporation's maximum credit risk associated with these instruments is represented by the contractual amounts indicated in the following table. Financial guarantees (In thousands) June 30, 2016 December 31, 2015 June 30, 2015 Standby letters of credit $ 220,913 $ 254,703 $ 255,418 Loans sold with recourse 11,543 12,902 28,891 Total financial guarantees $ 232,456 $ 267,605 $ 284,309 |
Changes in Repurchase Reserve | Changes in the repurchase reserves for the three and six months ended June 30, 2016 and 2015 are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of period $ 2,625 $ 6,650 $ 2,725 $ 7,250 Net increase/(decrease) to reserve — 363 (53 ) (39 ) Net realized (losses)/gains — (363 ) (47 ) (561 ) Balance at end of period $ 2,625 $ 6,650 $ 2,625 $ 6,650 |
Changes and Reclassifications35
Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Changes and Reclassifications Out of Other Comprehensive Income [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the changes in AOCI by component of comprehensive income for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended June 30, 2016 June 30, 2016 (In thousands) Pretax Tax After tax Pretax Tax After tax Unrealized and realized securities gains and losses: Balance at the beginning of the period $ 14,447 $ 1,682 $ 12,765 $ (32,786 ) $ (15,840 ) $ (16,946 ) Changes in unrealized securities' holding gains/(losses) 31,489 11,431 20,058 79,868 28,994 50,874 Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale into held-to-maturity (221 ) (79 ) (142 ) (1,072 ) (14 ) (1,058 ) Net losses/(gains) realized on sale of securities reclassified to noninterest income (2,164 ) (786 ) (1,378 ) (2,459 ) (892 ) (1,567 ) Balance at the end of the period 43,551 12,248 31,303 43,551 12,248 31,303 Pension plans and other postretirement benefits: Balance at the beginning of the period (93,852 ) (32,746 ) (61,106 ) (95,760 ) (33,432 ) (62,328 ) Amortization of actuarial losses/(gains) 1,076 390 686 3,244 1,163 2,081 Amortization of prior service cost reclassified to other noninterest expense (560 ) (204 ) (356 ) (820 ) (291 ) (529 ) Balance at the end of the period (93,336 ) (32,560 ) (60,776 ) (93,336 ) (32,560 ) (60,776 ) Total Accumulated Other Comprehensive Income $ (49,785 ) $ (20,312 ) $ (29,473 ) $ (49,785 ) $ (20,312 ) $ (29,473 ) Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (In thousands) Pretax Tax After tax Pretax Tax After tax Unrealized and realized securities gains and losses: Balance at the beginning of the period $ 24,728 $ 8,656 $ 16,072 $ (8,531 ) $ (2,985 ) $ (5,546 ) Changes in unrealized securities' holding gains/(losses) (28,642 ) (10,024 ) (18,618 ) 5,475 1,916 3,559 Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale into held-to-maturity (575 ) (203 ) (372 ) (1,079 ) (378 ) (701 ) Net losses/(gains) realized on sale of securities reclassified to noninterest income (567 ) (198 ) (369 ) (921 ) (322 ) (599 ) Balance at the end of the period (5,056 ) (1,769 ) (3,287 ) (5,056 ) (1,769 ) (3,287 ) Pension plans and other postretirement benefits: Balance at the beginning of the period (100,520 ) (35,181 ) (65,339 ) (102,068 ) (35,722 ) (66,346 ) Amortization of actuarial losses/(gains) 1,138 399 739 2,276 797 1,479 Amortization of prior service cost reclassified to other noninterest expense 410 144 266 820 287 533 Balance at the end of the period (98,972 ) (34,638 ) (64,334 ) (98,972 ) (34,638 ) (64,334 ) Total Accumulated Other Comprehensive Income $ (104,028 ) $ (36,407 ) $ (67,621 ) $ (104,028 ) $ (36,407 ) $ (67,621 ) |
Tax Effect of Changes and Reclassifications Out of Accumulated Other Comprehensive Income | The following table presents current period reclassifications out of AOCI by component of comprehensive income for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended Income statement line item presentation (In thousands) June 30, 2016 June 30, 2016 Realized (gains)/losses on sale of securities $ (2,164 ) $ (2,459 ) Investment securities losses (gains), net Tax expense (benefit) (36.3%) (786 ) (892 ) Income tax expense (benefit) Reclassified amount, net of tax $ (1,378 ) $ (1,567 ) Three Months Ended Six Months Ended Income statement line item presentation (In thousands) June 30, 2015 June 30, 2015 Realized (gains)/losses on sale of securities $ (567 ) $ (921 ) Investment securities losses (gains), net Tax expense (benefit) (35%) (198 ) (322 ) Income tax expense (benefit) Reclassified amount, net of tax $ (369 ) $ (599 ) |
Significant Accounting Polici36
Significant Accounting Policies (Details) $ / shares in Units, $ in Millions | Jan. 25, 2016USD ($)$ / shares | Jun. 30, 2016banking_offices |
Accounting Policies [Abstract] | ||
Number of branches | banking_offices | 359 | |
The Huntington National Bank | FirstMerit | ||
Business Acquisition [Line Items] | ||
Share Price | $ 8.80 | |
Business Combination, Consideration Transferred | $ | $ 3,400 | |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares Issued, Per Share | $ 1.72 | |
Business Combination, Cash Consideration, Per Share | 5 | |
Business Acquisition, Share Price | $ 20.14 |
Investment Securities (Amortize
Investment Securities (Amortized Cost Table and Fair Value of Held to Maturity and Available for Sale Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | $ 4,274,004 | $ 4,005,782 | $ 3,851,202 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 65,212 | 18,980 | 30,747 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (20,528) | (57,027) | (43,440) |
Available-for-sale | 4,318,688 | 3,967,735 | 3,838,509 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 2,514,161 | 2,674,093 | 2,787,513 |
Held-to-maturity Securities, Gross Unrealized Gains | 38,966 | 28,375 | 17,579 |
Held-to-maturity Securities, Gross Unrealized Losses | (7,387) | (43,349) | (44,972) |
Held-to-maturity Securities, Fair Value | 2,545,740 | 2,659,119 | 2,760,120 |
US Treasury Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 4,996 | 5,001 | 5,004 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 1 | 0 | 1 |
Available-for-sale Debt Securities, Gross Unrealized Losses | 0 | (1) | 0 |
Available-for-sale | 4,997 | 5,000 | 5,005 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 0 | ||
Held-to-maturity Securities, Fair Value | 0 | ||
US Government Agencies Debt Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 2,500 | 2,500 | 2,500 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 28 | 0 | 10 |
Available-for-sale Debt Securities, Gross Unrealized Losses | 0 | (2) | 0 |
Available-for-sale | 2,528 | 2,498 | 2,510 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 25,000 | 25,000 | 25,000 |
Held-to-maturity Securities, Gross Unrealized Gains | 35 | 19 | 0 |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | 0 | (323) |
Held-to-maturity Securities, Fair Value | 25,035 | 25,019 | 24,677 |
U.S. States and political subdivisions debt securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 147,807 | 188,829 | 203,449 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 3,742 | 4,170 | 5,191 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (2) | (204) | (1,023) |
Available-for-sale | 151,547 | 192,795 | 207,617 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 540,425 | 571,738 | 529,441 |
Held-to-maturity Securities, Gross Unrealized Gains | 15,713 | 22,180 | 8,104 |
Held-to-maturity Securities, Gross Unrealized Losses | (265) | (262) | (1,942) |
Held-to-maturity Securities, Fair Value | 555,873 | 593,656 | 535,603 |
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 840,250 | 900,358 | 947,347 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 20,064 | 11,325 | 18,068 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (67) | (5,454) | (4,563) |
Available-for-sale | 860,247 | 906,229 | 960,852 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 467,462 | 507,908 | 555,273 |
Held-to-maturity Securities, Gross Unrealized Gains | 12,367 | 4,767 | 6,919 |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | (2,999) | (2,940) |
Held-to-maturity Securities, Fair Value | 479,829 | 509,676 | 559,252 |
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 198,069 | 173,912 | 171,842 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 4,095 | 220 | 643 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (116) | (2,023) | (2,147) |
Available-for-sale | 202,048 | 172,109 | 170,338 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 87,964 | 64,951 | 57,462 |
Held-to-maturity Securities, Gross Unrealized Gains | 1,991 | 294 | 412 |
Held-to-maturity Securities, Gross Unrealized Losses | (42) | (574) | (219) |
Held-to-maturity Securities, Fair Value | 89,913 | 64,671 | 57,655 |
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 2,325,707 | 2,155,808 | 1,968,918 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 30,400 | 2,659 | 4,779 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (3,089) | (30,147) | (24,308) |
Available-for-sale | 2,353,018 | 2,128,320 | 1,949,389 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 1,060,496 | 1,161,340 | 1,267,321 |
Held-to-maturity Securities, Gross Unrealized Gains | 4,327 | 75 | 445 |
Held-to-maturity Securities, Gross Unrealized Losses | (6,670) | (35,881) | (35,025) |
Held-to-maturity Securities, Fair Value | 1,058,153 | 1,125,534 | 1,232,741 |
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 3 | 4 | 5 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 0 | 0 | 0 |
Available-for-sale Debt Securities, Gross Unrealized Losses | 0 | 0 | 0 |
Available-for-sale | 3 | 4 | 5 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 0 | ||
Held-to-maturity Securities, Fair Value | 0 | ||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 392,205 | 217,008 | 227,889 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 6,528 | 580 | 1,254 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (122) | (1,269) | (705) |
Available-for-sale | 398,611 | 216,319 | 228,438 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 246,509 | 255,359 | 263,741 |
Held-to-maturity Securities, Gross Unrealized Gains | 3,559 | 676 | 1,004 |
Held-to-maturity Securities, Gross Unrealized Losses | (410) | (3,611) | (4,523) |
Held-to-maturity Securities, Fair Value | 249,658 | 252,424 | 260,222 |
Collateralized Loan Obligations | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 297,939 | 297,831 | 259,743 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 354 | 26 | 801 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (6,499) | (8,446) | (2,463) |
Available-for-sale | 291,794 | 289,411 | 258,081 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 0 | ||
Held-to-maturity Securities, Fair Value | 0 | ||
Corporate debt securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 61,740 | 61,710 | 61,681 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 0 | 0 | 0 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (10,633) | (9,481) | (8,231) |
Available-for-sale | 51,107 | 52,229 | 53,450 |
Securities held to maturity | |||
Held-to-maturity Securities, Amortized Cost | 86,305 | 87,797 | 89,275 |
Held-to-maturity Securities, Gross Unrealized Gains | 974 | 364 | 695 |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | (22) | 0 |
Held-to-maturity Securities, Fair Value | 87,279 | 88,139 | 89,970 |
Debt Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 4,271,216 | 4,002,961 | 3,848,378 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 65,212 | 18,980 | 30,747 |
Available-for-sale Debt Securities, Gross Unrealized Losses | (20,528) | (57,027) | (43,440) |
Available-for-sale | 4,315,900 | 3,964,914 | 3,835,685 |
Marketable Equity Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 2,788 | 2,821 | 2,824 |
Available-for-sale Debt Securities, Gross Unrealized Gains | 0 | 0 | 0 |
Available-for-sale Debt Securities, Gross Unrealized Losses | 0 | 0 | 0 |
Available-for-sale | 2,788 | 2,821 | 2,824 |
Other Security Investments | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 0 | ||
Available-for-sale Debt Securities, Gross Unrealized Gains | 0 | ||
Available-for-sale Debt Securities, Gross Unrealized Losses | 0 | ||
Available-for-sale | 0 | ||
Equity Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Amortized Cost | 2,788 | 2,824 | |
Available-for-sale Debt Securities, Gross Unrealized Gains | 0 | 0 | |
Available-for-sale Debt Securities, Gross Unrealized Losses | 0 | 0 | |
Available-for-sale | $ 2,788 | $ 2,821 | $ 2,824 |
Investment Securities (Schedule
Investment Securities (Schedule of General Obligation Bonds) (Details) $ in Thousands | Jun. 30, 2016USD ($)issuers | Dec. 31, 2015USD ($)issuers | Jun. 30, 2015USD ($) |
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 636 | 712 | 773 |
General obligation bonds, average issue size, fair value | $ 1,037 | $ 1,033 | $ 910 |
General obligation bonds, amortized cost | 642,763 | 712,035 | 694,291 |
General obligation bonds, fair value | $ 659,686 | $ 735,350 | $ 703,590 |
MICHIGAN | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 116 | 137 | 153 |
General obligation bonds, average issue size, fair value | $ 1,404 | $ 1,381 | $ 1,018 |
General obligation bonds, amortized cost | 157,403 | 180,508 | 152,499 |
General obligation bonds, fair value | $ 162,897 | $ 189,259 | $ 155,712 |
Ohio | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 108 | 111 | 127 |
General obligation bonds, average issue size, fair value | $ 1,095 | $ 1,091 | $ 964 |
General obligation bonds, amortized cost | 115,545 | 116,783 | 121,716 |
General obligation bonds, fair value | $ 118,300 | $ 121,117 | $ 122,474 |
Wisconsin | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 54 | 69 | 70 |
General obligation bonds, average issue size, fair value | $ 651 | $ 673 | $ 585 |
General obligation bonds, amortized cost | 34,046 | 44,794 | 39,774 |
General obligation bonds, fair value | $ 35,166 | $ 46,454 | $ 40,950 |
ILLINOIS | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 52 | 55 | 60 |
General obligation bonds, average issue size, fair value | $ 1,783 | $ 1,870 | $ 1,784 |
General obligation bonds, amortized cost | 90,772 | 99,524 | 105,581 |
General obligation bonds, fair value | $ 92,711 | $ 102,867 | $ 107,033 |
TEXAS | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 51 | 58 | 67 |
General obligation bonds, average issue size, fair value | $ 816 | $ 807 | $ 759 |
General obligation bonds, amortized cost | 40,409 | 45,818 | 50,370 |
General obligation bonds, fair value | $ 41,629 | $ 46,805 | $ 50,877 |
PENNSYLVANIA | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 41 | 42 | 46 |
General obligation bonds, average issue size, fair value | $ 1,037 | $ 1,020 | $ 1,014 |
General obligation bonds, amortized cost | 41,674 | 42,185 | 46,547 |
General obligation bonds, fair value | $ 42,529 | $ 42,835 | $ 46,666 |
NEW JERSEY | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 31 | 35 | 34 |
General obligation bonds, average issue size, fair value | $ 724 | $ 725 | $ 720 |
General obligation bonds, amortized cost | 21,928 | 24,810 | 23,916 |
General obligation bonds, fair value | $ 22,441 | $ 25,372 | $ 24,472 |
WASHINGTON | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 27 | 29 | 30 |
General obligation bonds, average issue size, fair value | $ 968 | $ 950 | $ 939 |
General obligation bonds, amortized cost | 25,586 | 27,080 | 27,783 |
General obligation bonds, fair value | $ 26,149 | $ 27,548 | $ 28,169 |
MINNESOTA | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 23 | 33 | 34 |
General obligation bonds, average issue size, fair value | $ 699 | $ 667 | $ 692 |
General obligation bonds, amortized cost | 15,667 | 21,679 | 23,267 |
General obligation bonds, fair value | $ 16,076 | $ 22,020 | $ 23,540 |
NEW YORK | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 18 | 18 | 18 |
General obligation bonds, average issue size, fair value | $ 575 | $ 635 | $ 633 |
General obligation bonds, amortized cost | 10,044 | 11,161 | 11,187 |
General obligation bonds, fair value | $ 10,346 | $ 11,422 | $ 11,392 |
MISSOURI | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 10 | 15 | 15 |
General obligation bonds, average issue size, fair value | $ 1,075 | $ 1,078 | $ 1,084 |
General obligation bonds, amortized cost | 10,414 | 15,878 | 15,981 |
General obligation bonds, fair value | $ 10,754 | $ 16,174 | $ 16,265 |
Other states | |||
general obligation bonds [Line Items] | |||
General obligation bonds, number of issuers | 105 | 110 | 119 |
General obligation bonds, average issue size, fair value | $ 768 | $ 759 | $ 639 |
General obligation bonds, amortized cost | 79,275 | 81,815 | 75,670 |
General obligation bonds, fair value | $ 80,688 | $ 83,477 | $ 76,040 |
Investment Securities (Other In
Investment Securities (Other Investments Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Other investments | |||
FRB stock | $ 56,303 | $ 56,083 | $ 55,853 |
FHLB stock | 91,714 | 91,714 | 91,713 |
Other | 350 | 375 | 401 |
Total other investments | $ 148,367 | $ 148,172 | $ 147,967 |
Investment Securities (Realized
Investment Securities (Realized Gain Loss Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Proceeds and gross unrealized gains and losses on sales of available-for-sale securities | ||||
Realized gains | $ 2,164 | $ 672 | $ 2,459 | $ 1,064 |
Realized losses | 0 | (105) | 0 | (143) |
Net securities (losses)/gains | $ 2,164 | $ 567 | $ 2,459 | $ 921 |
Investment Securities (Gross Un
Investment Securities (Gross Unrealized Loss Table) (Details) $ in Thousands | Jun. 30, 2016USD ($)securities | Dec. 31, 2015USD ($)securities | Jun. 30, 2015USD ($)securities |
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 169,846 | $ 1,849,320 | $ 1,057,236 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (2,201) | $ (19,569) | $ (10,569) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 30 | 180 | 139 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 576,936 | $ 913,649 | $ 1,029,278 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (18,327) | $ (37,458) | $ (32,871) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 60 | 91 | 97 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 746,782 | $ 2,762,969 | $ 2,086,514 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (20,528) | (57,027) | (43,440) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 22,005 | 370,605 | 305,627 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (61) | $ (2,916) | $ (3,233) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | securities | 9 | 58 | 127 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 652,638 | $ 1,171,297 | $ 1,329,114 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (7,326) | $ (40,433) | $ (41,739) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | securities | 50 | 79 | 83 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 674,643 | $ 1,541,902 | $ 1,634,741 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total | (7,387) | (43,349) | (44,972) |
US Government Agencies Debt Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,498 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (2) | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 1 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 2,498 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (2) | ||
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | ||
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | securities | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 24,677 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (323) | ||
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | securities | 1 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 24,677 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total | (323) | ||
U.S. States and political subdivisions debt securities | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,567 | 10,178 | 32,237 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (2) | $ (37) | $ (587) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 3 | 20 | 52 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | $ 5,899 | $ 5,642 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | $ (167) | $ (436) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 0 | 9 | 9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 1,567 | $ 16,077 | $ 37,879 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (2) | (204) | (1,023) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 3,525 | 18,465 | 98,867 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (19) | $ (224) | $ (1,872) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | securities | 7 | 21 | 112 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 6,569 | $ 4,174 | $ 4,430 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (246) | $ (38) | $ (70) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | securities | 9 | 6 | 6 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 10,094 | $ 22,639 | $ 103,297 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total | (265) | (262) | (1,942) |
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 14,275 | 328,156 | 196,219 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (67) | $ (3,026) | $ (2,087) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 5 | 27 | 15 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | $ 95,895 | $ 103,498 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | $ (2,428) | $ (2,476) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 0 | 7 | 8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 14,275 | $ 424,051 | $ 299,717 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (67) | (5,454) | (4,563) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 85,738 | 83,112 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ (715) | $ (483) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | securities | 0 | 6 | 5 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | $ 97,880 | $ 105,289 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | $ (2,284) | $ (2,457) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | securities | 0 | 6 | 6 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 0 | $ 183,618 | $ 188,401 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total | 0 | (2,999) | (2,940) |
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 23,570 | 107,074 | 96,573 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (28) | $ (1,447) | $ (1,457) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 1 | 15 | 14 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 12,627 | $ 12,401 | $ 17,335 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (88) | $ (576) | $ (690) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 1 | 1 | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 36,197 | $ 119,475 | $ 113,908 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (116) | (2,023) | (2,147) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 13,478 | 34,833 | 7,263 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (42) | $ (346) | $ (41) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | securities | 1 | 6 | 1 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | $ 9,269 | $ 9,430 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | $ (228) | $ (178) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | securities | 0 | 1 | 1 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 13,478 | $ 44,102 | $ 16,693 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total | (42) | (574) | (219) |
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 13,182 | 1,130,779 | 596,646 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (271) | $ (10,587) | $ (4,398) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 1 | 78 | 42 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 332,305 | $ 597,403 | $ 706,376 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (2,818) | $ (19,560) | $ (19,910) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 29 | 49 | 53 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 345,487 | $ 1,728,182 | $ 1,303,022 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (3,089) | (30,147) | (24,308) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 140,514 | 111,360 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ (1,225) | $ (835) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | securities | 0 | 12 | 8 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 598,383 | $ 941,982 | $ 1,042,351 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (6,670) | $ (34,656) | $ (34,190) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | securities | 37 | 55 | 56 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 598,383 | $ 1,082,496 | $ 1,153,711 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total | (6,670) | (35,881) | (35,025) |
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 24,401 | 113,825 | 46,771 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (38) | $ (893) | $ (71) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 4 | 12 | 5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 19,071 | $ 23,400 | $ 61,120 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (84) | $ (376) | $ (634) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 1 | 2 | 7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 43,472 | $ 137,225 | $ 107,891 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (122) | (1,269) | (705) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 71,812 | 5,025 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ (384) | $ (2) |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | securities | 0 | 7 | 1 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 47,686 | $ 117,992 | $ 142,937 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (410) | $ (3,227) | $ (4,521) |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | securities | 4 | 11 | 13 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 47,686 | $ 189,804 | $ 147,962 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total | (410) | (3,611) | (4,523) |
Collateralized Loan Obligations | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 92,851 | 151,810 | 84,565 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (1,795) | $ (3,576) | $ (1,204) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 16 | 26 | 10 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 161,827 | $ 126,422 | $ 86,082 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (4,704) | $ (4,870) | $ (1,259) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 21 | 15 | 11 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 254,678 | $ 278,232 | $ 170,647 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (6,499) | (8,446) | (2,463) |
Corporate debt securities | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 4,225 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ (765) | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 0 | 1 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 51,106 | $ 52,229 | $ 49,225 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (10,633) | $ (9,481) | $ (7,466) |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 8 | 8 | 7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 51,106 | $ 52,229 | $ 53,450 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | (10,633) | (9,481) | $ (8,231) |
Securities held to maturity | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 5,002 | 19,243 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ (22) | |
Held to Maturity Securities in Unrealized Loss Positions Less than Twelve Months Qualitative Disclosure Number of Positions | securities | 1 | 6 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | $ 0 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | $ 0 | |
Held to Maturity Securities in Unrealized Loss Positions Twelve Months or Longer Qualitative Disclosure Number of Positions | securities | 0 | 0 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 5,002 | $ 19,243 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total | $ 0 | (22) | |
US Treasury Securities | |||
Securities available for sale | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 5,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (1) | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | securities | 1 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | securities | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 5,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Total | $ (1) |
Investment Securities (Maturiti
Investment Securities (Maturities Table) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Securities Available for Sale | |||
One year or less | $ 10,957 | ||
Available for Sale Securities Debt Maturities Maturity Period of One Year or Less Weighted Average Yield | 2.32% | ||
Over one year through five years | $ 224,674 | ||
Available for Sale Securities Debt Maturities Maturity Period over One Year Through Five Years Weighted Average Yield | 3.54% | ||
Over five years through ten years | $ 554,884 | ||
Available for Sale Securities Debt Maturities Maturity Period over Five Years Through Ten Years Weighted Average Yield | 2.92% | ||
Over ten years | $ 3,525,385 | ||
Available for Sale Securities Debt Maturities Maturity Period over Ten Years Weighted Average Yield | 2.23% | ||
Available-for-sale | $ 4,318,688 | $ 3,967,735 | $ 3,838,509 |
Amortized Cost | $ 4,274,004 | 4,005,782 | 3,851,202 |
Weighted-Average Yield | 2.39% | ||
Securities Held to Maturity | |||
One year or less | $ 87,315 | ||
Held to Maturity Securities Debt Maturities Maturity Period over One Year Through Five Years Weighted Average Yield | 2.36% | ||
Over one year through five years | $ 364,802 | ||
Held to Maturity Securities Debt Maturities Maturity Period over Five Years Through Ten Years Weighted Average Yield | 2.47% | ||
Over five years through ten years | $ 308,418 | ||
Held to Maturity Securities Debt Maturities Maturity Period over Ten Years Weighted Average Yield | 3.83% | ||
Over ten years | $ 1,785,205 | ||
Held to Maturity Securities Debt Maturities Maturity Period Weighted Average Yield | 2.02% | ||
Held-to-maturity Securities, Fair Value | $ 2,545,740 | 2,659,119 | 2,760,120 |
Held-to-maturity Securities, Carrying Amount | $ 2,514,161 | 2,674,093 | 2,787,513 |
Weighted Average Yield | 2.31% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 12 months 7 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 3 years 12 months 29 days | ||
US Government Agencies Debt Securities | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 2,528 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Available-for-sale | 2,528 | 2,498 | 2,510 |
Amortized Cost | $ 2,500 | 2,500 | 2,500 |
Weighted-Average Yield | 1.25% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 25,035 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 25,035 | 25,019 | 24,677 |
Held-to-maturity Securities, Carrying Amount | $ 25,000 | 25,000 | 25,000 |
Weighted Average Yield | 1.43% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 2 years 8 months 2 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 3 years 12 months 29 days | ||
US Treasury Securities | |||
Securities Available for Sale | |||
One year or less | $ 4,997 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Available-for-sale | 4,997 | 5,000 | 5,005 |
Amortized Cost | $ 4,996 | 5,001 | 5,004 |
Weighted-Average Yield | 0.31% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 0 | ||
Held-to-maturity Securities, Carrying Amount | $ 0 | ||
Weighted Average Yield | 0.00% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 6 months | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 1 day | ||
U.S. States and political subdivisions debt securities | |||
Securities Available for Sale | |||
One year or less | $ 5,895 | ||
Over one year through five years | 75,103 | ||
Over five years through ten years | 51,441 | ||
Over ten years | 19,108 | ||
Available-for-sale | 151,547 | 192,795 | 207,617 |
Amortized Cost | $ 147,807 | 188,829 | 203,449 |
Weighted-Average Yield | 5.00% | ||
Securities Held to Maturity | |||
One year or less | $ 64,872 | ||
Over one year through five years | 157,172 | ||
Over five years through ten years | 193,355 | ||
Over ten years | 140,474 | ||
Held-to-maturity Securities, Fair Value | 555,873 | 593,656 | 535,603 |
Held-to-maturity Securities, Carrying Amount | $ 540,425 | 571,738 | 529,441 |
Weighted Average Yield | 4.21% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 2 years 5 months 24 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 5 years 4 months 11 days | ||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
One year or less | $ 65 | ||
Over one year through five years | 86,480 | ||
Over five years through ten years | 47,116 | ||
Over ten years | 726,586 | ||
Available-for-sale | 860,247 | 906,229 | 960,852 |
Amortized Cost | $ 840,250 | 900,358 | 947,347 |
Weighted-Average Yield | 2.98% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 21,307 | ||
Over ten years | 458,522 | ||
Held-to-maturity Securities, Fair Value | 479,829 | 509,676 | 559,252 |
Held-to-maturity Securities, Carrying Amount | $ 467,462 | 507,908 | 555,273 |
Weighted Average Yield | 2.13% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 9 months 23 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 3 years 12 months 29 days | ||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 24,498 | ||
Over five years through ten years | 123,441 | ||
Over ten years | 54,109 | ||
Available-for-sale | 202,048 | 172,109 | 170,338 |
Amortized Cost | $ 198,069 | 173,912 | 171,842 |
Weighted-Average Yield | 2.13% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 36,522 | ||
Over five years through ten years | 53,391 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 89,913 | 64,671 | 57,655 |
Held-to-maturity Securities, Carrying Amount | $ 87,964 | 64,951 | 57,462 |
Weighted Average Yield | 2.14% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 12 months 14 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 2 years 7 months 17 days | ||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 13,936 | ||
Over five years through ten years | 10,705 | ||
Over ten years | 2,328,377 | ||
Available-for-sale | 2,353,018 | 2,128,320 | 1,949,389 |
Amortized Cost | $ 2,325,707 | 2,155,808 | 1,968,918 |
Weighted-Average Yield | 2.01% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 0 | ||
Over ten years | 1,058,153 | ||
Held-to-maturity Securities, Fair Value | 1,058,153 | 1,125,534 | 1,232,741 |
Held-to-maturity Securities, Carrying Amount | $ 1,060,496 | 1,161,340 | 1,267,321 |
Weighted Average Yield | 1.59% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 8 months 9 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 3 years 8 months 9 days | ||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 3 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Available-for-sale | 3 | 4 | 5 |
Amortized Cost | $ 3 | 4 | 5 |
Weighted-Average Yield | 2.98% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 0 | ||
Held-to-maturity Securities, Carrying Amount | $ 0 | ||
Weighted Average Yield | 0.00% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 12 months 25 days | ||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 22,126 | ||
Over five years through ten years | 103,837 | ||
Over ten years | 272,648 | ||
Available-for-sale | 398,611 | 216,319 | 228,438 |
Amortized Cost | $ 392,205 | 217,008 | 227,889 |
Weighted-Average Yield | 2.18% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 81,237 | ||
Over five years through ten years | 40,365 | ||
Over ten years | 128,056 | ||
Held-to-maturity Securities, Fair Value | 249,658 | 252,424 | 260,222 |
Held-to-maturity Securities, Carrying Amount | $ 246,509 | 255,359 | 263,741 |
Weighted Average Yield | 1.77% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 3 years 9 months 30 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 4 years 1 month 27 days | ||
Collateralized Loan Obligations | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 218,344 | ||
Over ten years | 73,450 | ||
Available-for-sale | 291,794 | 289,411 | 258,081 |
Amortized Cost | $ 297,939 | 297,831 | 259,743 |
Weighted-Average Yield | 3.08% | ||
Securities Held to Maturity | |||
One year or less | $ 0 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 0 | ||
Held-to-maturity Securities, Carrying Amount | $ 0 | ||
Weighted Average Yield | 0.00% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 6 years 5 months 24 days | ||
Corporate debt securities | |||
Securities Available for Sale | |||
One year or less | $ 0 | ||
Over one year through five years | 0 | ||
Over five years through ten years | 0 | ||
Over ten years | 51,107 | ||
Available-for-sale | 51,107 | 52,229 | 53,450 |
Amortized Cost | $ 61,740 | 61,710 | 61,681 |
Weighted-Average Yield | 1.37% | ||
Securities Held to Maturity | |||
One year or less | $ 22,443 | ||
Over one year through five years | 64,836 | ||
Over five years through ten years | 0 | ||
Over ten years | 0 | ||
Held-to-maturity Securities, Fair Value | 87,279 | 88,139 | 89,970 |
Held-to-maturity Securities, Carrying Amount | $ 86,305 | 87,797 | 89,275 |
Weighted Average Yield | 2.30% | ||
Available for Sale Securities, Debt Maturities, Weighted-Average Mat | 11 years 12 months 22 days | ||
Held to Maturity Securities Debt Maturities-Weighted Aver Maturity | 2 years 3 months 12 days | ||
Debt Securities | |||
Securities Available for Sale | |||
Available-for-sale | $ 4,315,900 | 3,964,914 | 3,835,685 |
Amortized Cost | $ 4,271,216 | $ 4,002,961 | $ 3,848,378 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2016USD ($)state | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Schedule of Investments [Line Items] | |||
General obligation bonds, aggregate fair value | $ 10,000 | ||
Number of states with aggregate fair value of general obligation bonds greater than $10 million | state | 11 | ||
Total number of states general obligation bonds are held | state | 37 | ||
Available for sale securities, net unrealized losses | $ 76,300 | $ 40,100 | $ (53,000) |
Unrealized gain (loss) on investments | $ (27,900) | (88,400) | (100,400) |
Number of single issuer trust preferred securities with stated maturities | 8 | ||
Percent of trust preferred securities included in fair value of entire investment portfolio | 1.00% | ||
Available-for-sale | $ 4,318,688 | 3,838,509 | 3,967,735 |
Other investment securities pledged | $ 3,200,000 | 3,200,000 | 2,900,000 |
Maximum portfolio concentration in municipal securities per corporate investment policy | 20.00% | ||
Amount of municipal securities with a combined individual state to total municipal outstanding equal to or less than, per corporate policy | 25.00% | ||
Collateralized Loan Obligations | |||
Schedule of Investments [Line Items] | |||
Available-for-sale | $ 291,794 | $ 258,081 | $ 289,411 |
Accumulated unrealized gain (loss), before tax | $ (6,100) |
Loans (Schedule of Accounts, No
Loans (Schedule of Accounts, Notes, Loans and Financing Receivables) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | $ 9,802,573 | $ 9,814,088 | $ 9,656,751 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 1,054,781 | 1,048,621 | 1,049,731 |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 3,849,321 | 3,565,798 | 3,381,706 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 1,453,390 | 1,455,648 | 1,436,526 |
FDIC Indemnification Asset | 8,555 | 9,947 | 11,820 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 174,986 | 182,843 | 168,576 |
Loans and Leases Receivable, Gross | 16,343,606 | 16,076,945 | 15,705,110 |
Allowance for loan losses | (149,649) | (153,691) | (148,259) |
Net loans | 16,193,957 | 15,923,254 | 15,556,851 |
Originated Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 9,132,366 | 9,007,830 | 8,633,332 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 728,534 | 689,045 | 653,143 |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 3,353,084 | 2,990,349 | 2,720,059 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 1,276,661 | 1,248,438 | 1,180,802 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 174,986 | 182,843 | 168,576 |
Loans and Leases Receivable, Gross | 14,665,631 | 14,118,505 | 13,355,912 |
Allowance for loan losses | (105,175) | (105,135) | (101,682) |
Net loans | 14,560,456 | 14,013,370 | 13,254,230 |
Acquired Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 554,414 | 677,149 | 877,598 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 292,877 | 324,008 | 358,559 |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 494,429 | 573,372 | 659,348 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 146,916 | 168,542 | 200,179 |
Loans and Leases Receivable, Gross | 1,488,636 | 1,743,071 | 2,095,684 |
Allowance for loan losses | (4,256) | (3,877) | (4,950) |
Net loans | 1,484,380 | 1,739,194 | 2,090,734 |
Covered Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 115,793 | 129,109 | 145,821 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 33,370 | 35,568 | 38,029 |
Loans and Leases Receivable, Gross, Consumer, Installment, Other | 1,808 | 2,077 | 2,299 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 29,813 | 38,668 | 55,545 |
FDIC Indemnification Asset | 8,555 | 9,947 | 11,820 |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 189,339 | 215,369 | 253,514 |
Loans and Leases Receivable, Allowance, Covered | (40,218) | (44,679) | (41,627) |
Loans and Leases Receivable, Net Reported Amount, Covered | $ 149,121 | $ 170,690 | $ 211,887 |
Loans (Schedule of Acquired Imp
Loans (Schedule of Acquired Impaired Loans, Accretable Yield and Carrying Amount) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Covered impaired loan | ||||
Accretable Yield | ||||
Balance at beginning of period | $ 22,126 | $ 29,867 | $ 22,908 | $ 37,511 |
Accretion | (2,231) | (4,100) | (4,528) | (9,667) |
Net reclassifications from nonaccretable to accretable | 699 | 2,136 | 2,372 | 2,080 |
Disposals | (371) | (1,753) | (529) | (3,774) |
Balance at end of period | 20,223 | 26,150 | 20,223 | 26,150 |
Carrying Amount of Loans | ||||
Balance at beginning of period | 122,134 | 199,225 | 130,648 | 232,452 |
Accretion | 2,231 | 4,100 | 4,528 | 9,667 |
Payments received, net | (5,604) | (45,517) | (16,415) | (84,311) |
Balance at end of period | 118,761 | 157,808 | 118,761 | 157,808 |
Acquired Impaired Loans | ||||
Accretable Yield | ||||
Balance at beginning of period | 85,444 | 118,756 | 89,823 | 119,450 |
Accretion | (7,921) | (10,285) | (16,823) | (21,503) |
Net reclassifications from nonaccretable to accretable | 4,883 | 8,217 | 12,636 | 21,212 |
Disposals | (3,042) | (4,657) | (6,272) | (7,128) |
Balance at end of period | 79,364 | 112,031 | 79,364 | 112,031 |
Carrying Amount of Loans | ||||
Balance at beginning of period | 257,152 | 388,313 | 284,709 | 423,209 |
Accretion | 7,921 | 10,285 | 16,823 | 21,503 |
Payments received, net | (25,878) | (42,434) | (62,337) | (88,548) |
Balance at end of period | $ 239,195 | $ 356,164 | $ 239,195 | $ 356,164 |
Loans (Covered Loan Loss Share
Loans (Covered Loan Loss Share Receivable) (Details) - Loss Share Receivable - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Loss Share Receivable Rollforward [Roll Forward] | ||||
Balance at beginning of period | $ (9,436) | $ (20,005) | $ (9,947) | $ (22,033) |
Amortization | (358) | (1,185) | (706) | (3,372) |
Increase/(decrease) due to impairment (recapture) on FDIC acquired loans | (12) | 1,819 | 257 | 6,046 |
FDIC reimbursement | (194) | (8,713) | (386) | (12,726) |
FDIC acquired loans paid in full | (317) | (106) | (557) | (161) |
Balance at end of the period | (8,555) | $ (11,820) | (8,555) | $ (11,820) |
Single Family Loss Share Agreement | ||||
Loss Share Receivable Rollforward [Roll Forward] | ||||
Balance at end of the period | $ (8,600) | $ (8,600) |
Loans (Schedules of Past Due Re
Loans (Schedules of Past Due Receivables) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Consumer Loans Guaranteed by Government | $ 2,300 | $ 2,300 | $ 2,700 |
FDIC Indemnification Asset | 8,555 | 9,947 | 11,820 |
Originated Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 82,025 | 83,520 | 80,212 |
Financing Receivable, Recorded Investment, Current | 14,583,606 | 14,034,985 | 13,275,700 |
Financing Receivable, Net | 14,665,631 | 14,118,505 | 13,355,912 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 8,008 | 8,022 | 8,009 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 84,297 | 44,105 | 55,142 |
Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 14,006 | 13,623 | 11,566 |
Financing Receivable, Recorded Investment, Current | 5,868,988 | 5,779,785 | 5,459,797 |
Financing Receivable, Net | 5,882,994 | 5,793,408 | 5,471,363 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,062 | 236 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 43,887 | 23,123 | 29,241 |
Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 16,824 | 15,140 | 6,657 |
Financing Receivable, Recorded Investment, Current | 2,018,674 | 2,062,204 | 2,131,715 |
Financing Receivable, Net | 2,035,498 | 2,077,344 | 2,138,372 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 166 | 153 | 418 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 13,860 | 4,503 | 7,486 |
Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 5,469 | 1,846 | |
Financing Receivable, Recorded Investment, Current | 699,871 | 643,491 | |
Financing Receivable, Net | 705,340 | 645,337 | 586,895 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,195 | 482 | |
Originated Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 23,163 | 26,682 | 18,727 |
Financing Receivable, Recorded Investment, Current | 3,329,921 | 2,963,667 | 2,701,332 |
Financing Receivable, Net | 3,353,084 | 2,990,349 | 2,720,059 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3,453 | 3,519 | 3,386 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,506 | 2,178 | 2,903 |
Originated Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 483 | ||
Financing Receivable, Recorded Investment, Current | 586,412 | ||
Financing Receivable, Net | 586,895 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | ||
Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 476 | 0 | 17,862 |
Financing Receivable, Recorded Investment, Current | 508,058 | 491,741 | 418,840 |
Financing Receivable, Net | 508,534 | 491,741 | 436,702 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 476 | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 1,162 |
Originated Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,098 | 4,343 | 4,020 |
Financing Receivable, Recorded Investment, Current | 1,272,563 | 1,244,095 | 1,176,782 |
Financing Receivable, Net | 1,276,661 | 1,248,438 | 1,180,802 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 623 | 513 | 249 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,390 | 1,674 | 1,591 |
Originated Loans | Credit Card Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,175 | 2,575 | 1,575 |
Financing Receivable, Recorded Investment, Current | 172,811 | 180,268 | 167,001 |
Financing Receivable, Net | 174,986 | 182,843 | 168,576 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 789 | 725 | 337 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 758 | 545 | 459 |
Originated Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 15,814 | 19,311 | 19,322 |
Financing Receivable, Recorded Investment, Current | 712,720 | 669,734 | 633,821 |
Financing Receivable, Net | 728,534 | 689,045 | 653,143 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,439 | 2,876 | 3,619 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 10,701 | 11,600 | 12,300 |
Acquired Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 25,191 | 45,707 | 44,905 |
Financing Receivable, Recorded Investment, Current | 1,463,445 | 1,697,364 | 2,050,779 |
Financing Receivable, Net | 1,488,636 | 1,743,071 | 2,095,684 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,457 | 3,096 | 1,648 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,121 | 8,245 | 8,052 |
Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,629 | 3,678 | 3,411 |
Financing Receivable, Recorded Investment, Current | 179,874 | 236,467 | 334,012 |
Financing Receivable, Net | 181,503 | 240,145 | 337,423 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 13 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 865 | 782 | 661 |
Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 10,989 | 14,530 | 23,941 |
Financing Receivable, Recorded Investment, Current | 357,811 | 416,361 | 510,004 |
Financing Receivable, Net | 368,800 | 430,891 | 533,945 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 522 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,482 | 4,948 | 5,545 |
Acquired Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 413 | 733 | |
Financing Receivable, Recorded Investment, Current | 3,698 | 5,380 | |
Financing Receivable, Net | 4,111 | 6,113 | 6,230 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | |
Acquired Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,876 | 7,362 | 6,111 |
Financing Receivable, Recorded Investment, Current | 489,553 | 566,010 | 653,237 |
Financing Receivable, Net | 494,429 | 573,372 | 659,348 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 224 | 236 | 475 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 615 | 835 | 671 |
Acquired Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 694 | ||
Financing Receivable, Recorded Investment, Current | 5,536 | ||
Financing Receivable, Net | 6,230 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | ||
Acquired Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,175 | 3,285 | 4,487 |
Financing Receivable, Recorded Investment, Current | 144,741 | 165,257 | 195,692 |
Financing Receivable, Net | 146,916 | 168,542 | 200,179 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 587 | 644 | 762 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 235 | 514 | 246 |
Acquired Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 5,109 | 16,119 | 6,261 |
Financing Receivable, Recorded Investment, Current | 287,768 | 307,889 | 352,298 |
Financing Receivable, Net | 292,877 | 324,008 | 358,559 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 646 | 1,681 | 411 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 924 | 1,166 | 929 |
Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 40,337 | 45,608 | 54,943 |
Financing Receivable, Recorded Investment, Current | 140,447 | 159,814 | 186,751 |
Financing Receivable, Net | 180,784 | 205,422 | 241,694 |
Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,326 | 1,054 | 2,916 |
Financing Receivable, Recorded Investment, Current | 29,948 | 34,412 | 35,221 |
Financing Receivable, Net | 31,274 | 35,466 | 38,137 |
Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 25,735 | 29,151 | 34,699 |
Financing Receivable, Recorded Investment, Current | 54,153 | 58,623 | 67,110 |
Financing Receivable, Net | 79,888 | 87,774 | 101,809 |
Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,512 | 3,761 | 3,701 |
Financing Receivable, Recorded Investment, Current | 1,119 | 2,108 | 2,174 |
Financing Receivable, Net | 4,631 | 5,869 | 5,875 |
Covered Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Current | 1,808 | 2,077 | 2,299 |
Financing Receivable, Net | 1,808 | 2,077 | 2,299 |
Covered Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,389 | 4,199 | 4,956 |
Financing Receivable, Recorded Investment, Current | 26,424 | 34,469 | 50,589 |
Financing Receivable, Net | 29,813 | 38,668 | 55,545 |
Covered Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 6,375 | 7,443 | 8,671 |
Financing Receivable, Recorded Investment, Current | 26,995 | 28,125 | 29,358 |
Financing Receivable, Net | 33,370 | 35,568 | 38,029 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 33,465 | 51,358 | 52,205 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,677 | 4,684 | 5,837 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,506 | 12,880 | 3,758 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 1,360 | 483 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 15,662 | 17,934 | 11,526 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 17,862 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,245 | 1,952 | 2,268 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Credit Card Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 811 | 1,449 | 679 |
Financing Receivables, 30 to 59 Days Past Due | Originated Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 9,564 | 11,099 | 9,792 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 5,824 | 18,687 | 9,920 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 340 | 311 | 33 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 602 | 3,192 | 3,353 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,623 | 5,059 | 3,999 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | ||
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 960 | 1,365 | 2,349 |
Financing Receivables, 30 to 59 Days Past Due | Acquired Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 299 | 8,760 | 186 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 6,468 | 7,142 | 7,311 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 296 | 664 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,097 | 2,230 | 1,256 |
Financing Receivables, 30 to 59 Days Past Due | Covered Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,371 | 4,616 | 5,391 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 9,046 | 7,869 | 8,071 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,465 | 115 | 1,949 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 142 | 0 | 119 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 709 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,496 | 4,828 | 3,010 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 713 | 913 | 720 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Credit Card Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 504 | 494 | 338 |
Financing Receivables, 60 to 89 Days Past Due | Originated Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,017 | 1,519 | 1,935 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,230 | 4,268 | 6,201 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 121 | 31 | 99 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 896 | 1,681 | 3,115 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 767 | 1,329 | 1,029 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | ||
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 503 | 660 | 785 |
Financing Receivables, 60 to 89 Days Past Due | Acquired Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 943 | 567 | 1,173 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,362 | 578 | 2,524 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 804 | 354 | 1,959 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 354 | 52 | 246 |
Financing Receivables, 60 to 89 Days Past Due | Covered Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 204 | 172 | 319 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 39,514 | 24,293 | 19,936 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 10,864 | 8,824 | 3,780 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 12,176 | 2,260 | 2,780 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,760 | 486 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,005 | 3,920 | 4,191 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 476 | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 2,140 | 1,478 | 1,032 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Credit Card Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 860 | 632 | 558 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Originated Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 4,233 | 6,693 | 7,595 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 16,137 | 22,752 | 28,784 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,168 | 3,336 | 3,279 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 9,491 | 9,657 | 17,473 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 413 | 733 | |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 486 | 974 | 1,083 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Commercial Construction Financing Receivable | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 694 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 712 | 1,260 | 1,353 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Acquired Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,867 | 6,792 | 4,902 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 32,507 | 37,888 | 45,108 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 1,326 | 1,054 | 2,916 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 24,931 | 28,501 | 32,076 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,512 | 3,761 | 3,701 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Installment | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Home Equity Loan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 938 | 1,917 | 3,454 |
Financing Receivables, Equal to Greater than 90 Days Past Due | Covered Loans | Residential Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | $ 1,800 | $ 2,655 | $ 2,961 |
Loans (Financing Receivables Cr
Loans (Financing Receivables Credit Quality Indicators) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Originated Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | $ 14,665,631 | $ 14,118,505 | $ 13,355,912 |
Originated Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 5,882,994 | 5,793,408 | 5,471,363 |
Originated Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 2,035,498 | 2,077,344 | 2,138,372 |
Originated Loans | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 705,340 | 645,337 | 586,895 |
Originated Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 508,534 | 491,741 | 436,702 |
Originated Loans | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 9,132,366 | 9,007,830 | 8,633,332 |
Originated Loans | Grade One | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 75,818 | 60,440 | 65,856 |
Originated Loans | Grade One | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 742 | 773 | 807 |
Originated Loans | Grade One | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Originated Loans | Grade One | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 12,001 | 12,732 | 14,688 |
Originated Loans | Grade One | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 88,561 | 73,945 | 81,351 |
Originated Loans | Grade Two | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 416,677 | 353,581 | 206,384 |
Originated Loans | Grade Two | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 806 | 831 | 1,166 |
Originated Loans | Grade Two | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Originated Loans | Grade Two | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 49,953 | 69,258 | 29,564 |
Originated Loans | Grade Two | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 467,436 | 423,670 | 237,114 |
Originated Loans | Grade Three | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,267,423 | 1,371,850 | 1,417,295 |
Originated Loans | Grade Three | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 294,396 | 319,987 | 367,457 |
Originated Loans | Grade Three | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 46,114 | 59,182 | 55,889 |
Originated Loans | Grade Three | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 87,346 | 49,956 | 65,664 |
Originated Loans | Grade Three | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,695,279 | 1,800,975 | 1,906,305 |
Originated Loans | Grade Four | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 3,886,039 | 3,756,333 | 3,567,387 |
Originated Loans | Grade Four | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,697,194 | 1,697,261 | 1,715,998 |
Originated Loans | Grade Four | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 609,659 | 569,098 | 529,517 |
Originated Loans | Grade Four | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 325,346 | 344,763 | 321,268 |
Originated Loans | Grade Four | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 6,518,238 | 6,367,455 | 6,134,170 |
Originated Loans | Grade Five | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 73,989 | 124,140 | 98,137 |
Originated Loans | Grade Five | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 13,929 | 18,388 | 25,466 |
Originated Loans | Grade Five | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 31,744 | 7,193 | 360 |
Originated Loans | Grade Five | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 22,830 | 7,858 | 2,956 |
Originated Loans | Grade Five | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 142,492 | 157,579 | 126,919 |
Originated Loans | Grade Six | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 154,707 | 124,483 | 112,661 |
Originated Loans | Grade Six | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 28,431 | 40,105 | 27,478 |
Originated Loans | Grade Six | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 17,823 | 9,864 | 1,129 |
Originated Loans | Grade Six | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 11,058 | 7,174 | 2,562 |
Originated Loans | Grade Six | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 212,019 | 181,626 | 143,830 |
Originated Loans | Grade Seven | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 8,341 | 2,581 | 3,643 |
Originated Loans | Grade Seven | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | (1) | 0 |
Originated Loans | Grade Seven | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Originated Loans | Grade Seven | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Originated Loans | Grade Seven | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 8,341 | 2,580 | 3,643 |
Acquired Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 1,488,636 | 1,743,071 | 2,095,684 |
Acquired Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 181,503 | 240,145 | 337,423 |
Acquired Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 368,800 | 430,891 | 533,945 |
Acquired Loans | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 4,111 | 6,113 | 6,230 |
Acquired Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 554,414 | 677,149 | 877,598 |
Acquired Loans | Grade One | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 346 | 1,061 |
Acquired Loans | Grade One | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade One | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade One | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade One | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 346 | 1,061 |
Acquired Loans | Grade Two | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Two | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Two | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Two | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Two | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Three | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 5,994 | 15,548 | 17,338 |
Acquired Loans | Grade Three | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 24,244 | 27,387 | 27,190 |
Acquired Loans | Grade Three | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Three | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Three | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 30,238 | 42,935 | 44,528 |
Acquired Loans | Grade Four | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 140,944 | 200,736 | 289,027 |
Acquired Loans | Grade Four | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 303,228 | 361,518 | 453,830 |
Acquired Loans | Grade Four | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 3,698 | 5,380 | 5,536 |
Acquired Loans | Grade Four | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Four | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 447,870 | 567,634 | 748,393 |
Acquired Loans | Grade Five | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 27,053 | 11,735 | 13,283 |
Acquired Loans | Grade Five | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 11,607 | 12,546 | 16,815 |
Acquired Loans | Grade Five | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Five | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Five | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 38,660 | 24,281 | 30,098 |
Acquired Loans | Grade Six | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 7,512 | 11,780 | 16,714 |
Acquired Loans | Grade Six | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 29,721 | 29,440 | 36,110 |
Acquired Loans | Grade Six | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 413 | 733 | 694 |
Acquired Loans | Grade Six | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Six | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 37,646 | 41,953 | 53,518 |
Acquired Loans | Grade Seven | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Seven | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Seven | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Seven | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Acquired Loans | Grade Seven | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 180,784 | 205,422 | 241,694 |
Covered Loans | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 31,274 | 35,466 | 38,137 |
Covered Loans | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 79,888 | 87,774 | 101,809 |
Covered Loans | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 4,631 | 5,869 | 5,875 |
Covered Loans | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 115,793 | 129,109 | 145,821 |
Covered Loans | Grade One | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade One | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Two | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 1,072 | 1,129 |
Covered Loans | Grade Two | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Two | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Two | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Two | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 1,072 | 1,129 |
Covered Loans | Grade Three | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 7,040 | 7,004 | 0 |
Covered Loans | Grade Three | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Three | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 7,040 | 7,004 | 0 |
Covered Loans | Grade Four | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 27,834 | 31,637 | 33,992 |
Covered Loans | Grade Four | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 45,520 | 49,917 | 65,906 |
Covered Loans | Grade Four | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 819 | 817 |
Covered Loans | Grade Four | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Four | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 73,354 | 82,373 | 100,715 |
Covered Loans | Grade Five | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 295 | 0 |
Covered Loans | Grade Five | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 625 |
Covered Loans | Grade Five | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Five | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Five | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 295 | 625 |
Covered Loans | Grade Six | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 3,440 | 2,462 | 3,016 |
Covered Loans | Grade Six | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 27,328 | 30,853 | 35,278 |
Covered Loans | Grade Six | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 4,631 | 5,050 | 5,058 |
Covered Loans | Grade Six | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Six | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 35,399 | 38,365 | 43,352 |
Covered Loans | Grade Seven | Commercial and Industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Seven | Real Estate Loan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Seven | Construction Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Seven | Commercial Leases Financing Receivable | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | 0 | 0 | 0 |
Covered Loans | Grade Seven | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Net | $ 0 | $ 0 | $ 0 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross, Commercial | $ 9,802,573 | $ 9,656,751 | $ 9,802,573 | $ 9,656,751 | $ 9,814,088 |
Loans and Leases Receivable, Gross | 16,343,606 | 15,705,110 | $ 16,343,606 | 15,705,110 | 16,076,945 |
Time period for non-payment of loans that are placed on non-accrual status | 90 days | ||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | (3,300) | (5,400) | $ (3,300) | (5,400) | (4,100) |
Days past due for nonaccrual status credit card loans | 120 days | ||||
Acquired Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 340,900 | $ 340,900 | 504,700 | ||
Net reclassifications from nonaccretable to accretable | 4,883 | 8,217 | 12,636 | 21,212 | |
Covered impaired loan | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 301,200 | 301,200 | 351,100 | ||
Acquired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross, Commercial | 554,414 | 877,598 | 554,414 | 877,598 | 677,149 |
Loans and Leases Receivable, Gross | 1,488,636 | 2,095,684 | 1,488,636 | 2,095,684 | $ 1,743,071 |
Covered impaired loan | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Net reclassifications from nonaccretable to accretable | 699 | $ 2,136 | 2,372 | $ 2,080 | |
George Washington and Midwest Acquisition | Non-Single Family Loss Share Agreement | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross | 115,800 | 115,800 | |||
George Washington and Midwest Acquisition | Single Family Loss Share Agreement | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 65,000 | $ 65,000 |
Allowance for Loan Losses (Sche
Allowance for Loan Losses (Schedule of Credit Losses Related to Originated Financing Receivables, Current) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Provision/ (recapture) for loan losses | $ (6,391) | $ (8,966) | $ (14,200) | $ (17,214) | |||
Originated Loans | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 102,915 | 97,545 | 105,135 | 95,696 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | (10,798) | (11,298) | (23,815) | (19,865) | |||
Recoveries | 6,111 | 4,626 | 11,497 | 9,006 | |||
Provision/ (recapture) for loan losses | 6,947 | 10,809 | 12,357 | 16,845 | |||
Balance at end of the period | 105,175 | 101,682 | 105,175 | 101,682 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 13,454 | $ 14,349 | $ 11,626 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 91,721 | 90,786 | 90,056 | ||||
Financing Receivable, Allowance for Credit Losses | 102,915 | 97,545 | 105,135 | 95,696 | 105,175 | 105,135 | 101,682 |
Financing Receivable, Individually Evaluated for Impairment | 166,968 | 129,038 | 124,035 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 14,498,663 | 13,989,467 | 13,231,877 | ||||
Financing Receivable, Net | 14,665,631 | 14,118,505 | 13,355,912 | ||||
Originated Loans | Commercial and Industrial | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 44,489 | 39,838 | 44,760 | 37,375 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | (2,593) | (3,247) | (5,803) | (3,757) | |||
Recoveries | 1,335 | 453 | 1,867 | 794 | |||
Provision/ (recapture) for loan losses | 1,859 | 5,832 | 4,266 | 8,464 | |||
Balance at end of the period | 45,090 | 42,876 | 45,090 | 42,876 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 10,447 | 11,837 | 9,117 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 34,643 | 32,923 | 33,759 | ||||
Financing Receivable, Allowance for Credit Losses | 44,489 | 39,838 | 44,760 | 37,375 | 45,090 | 44,760 | 42,876 |
Financing Receivable, Individually Evaluated for Impairment | 62,707 | 43,818 | 45,969 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 5,820,287 | 5,749,590 | 5,425,394 | ||||
Financing Receivable, Net | 5,882,994 | 5,793,408 | 5,471,363 | ||||
Originated Loans | Commercial Real Estate | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 7,244 | 8,813 | 9,631 | 10,492 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | (111) | (408) | (220) | (623) | |||
Recoveries | 207 | 1 | 232 | 1 | |||
Provision/ (recapture) for loan losses | (1,468) | 94 | (3,771) | (1,370) | |||
Balance at end of the period | 5,872 | 8,500 | 5,872 | 8,500 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 507 | 128 | 151 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 5,365 | 9,503 | 8,349 | ||||
Financing Receivable, Allowance for Credit Losses | 7,244 | 8,813 | 9,631 | 10,492 | 5,872 | 9,631 | 8,500 |
Financing Receivable, Individually Evaluated for Impairment | 29,539 | 16,614 | 12,072 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 2,005,959 | 2,060,730 | 2,126,300 | ||||
Financing Receivable, Net | 2,035,498 | 2,077,344 | 2,138,372 | ||||
Originated Loans | Construction Loans | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 1,537 | 1,752 | 1,594 | 2,202 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | 0 | 0 | 0 | |||
Recoveries | 2 | 39 | 4 | 40 | |||
Provision/ (recapture) for loan losses | 1,028 | (251) | 969 | (702) | |||
Balance at end of the period | 2,567 | 1,540 | 2,567 | 1,540 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,567 | 1,594 | 1,540 | ||||
Financing Receivable, Allowance for Credit Losses | 1,537 | 1,752 | 1,594 | 2,202 | 2,567 | 1,594 | 1,540 |
Financing Receivable, Individually Evaluated for Impairment | 512 | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 704,828 | 645,337 | 586,895 | ||||
Financing Receivable, Net | 705,340 | 645,337 | 586,895 | ||||
Originated Loans | Leases | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 1,499 | 629 | 1,313 | 674 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | 0 | 0 | 0 | |||
Recoveries | 29 | 3 | 49 | 7 | |||
Provision/ (recapture) for loan losses | 822 | (13) | 988 | (62) | |||
Balance at end of the period | 2,350 | 619 | 2,350 | 619 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,350 | 1,313 | 619 | ||||
Financing Receivable, Allowance for Credit Losses | 1,499 | 629 | 1,313 | 674 | 2,350 | 1,313 | 619 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | 1,162 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 508,534 | 491,741 | 435,540 | ||||
Financing Receivable, Net | 508,534 | 491,741 | 436,702 | ||||
Originated Loans | Installment | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 14,664 | 13,358 | 14,183 | 12,918 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | (5,418) | (5,090) | (12,186) | (10,145) | |||
Recoveries | 3,573 | 2,844 | 7,379 | 5,864 | |||
Provision/ (recapture) for loan losses | 3,960 | 3,798 | 7,403 | 6,273 | |||
Balance at end of the period | 16,779 | 14,910 | 16,779 | 14,910 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,149 | 1,009 | 1,001 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 15,630 | 13,174 | 13,909 | ||||
Financing Receivable, Allowance for Credit Losses | 14,664 | 13,358 | 14,183 | 12,918 | 16,779 | 14,183 | 14,910 |
Financing Receivable, Individually Evaluated for Impairment | 42,272 | 36,904 | 31,927 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 3,310,812 | 2,953,445 | 2,688,132 | ||||
Financing Receivable, Net | 3,353,084 | 2,990,349 | 2,720,059 | ||||
Originated Loans | Home Equity Line of Credit | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 19,528 | 19,433 | 20,094 | 19,324 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | (937) | (971) | (1,964) | (1,882) | |||
Recoveries | 499 | 839 | 1,123 | 1,452 | |||
Provision/ (recapture) for loan losses | 698 | 738 | 535 | 1,145 | |||
Balance at end of the period | 19,788 | 20,039 | 19,788 | 20,039 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 188 | 217 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 19,619 | 19,906 | 19,822 | ||||
Financing Receivable, Allowance for Credit Losses | 19,528 | 19,433 | 20,094 | 19,324 | 19,788 | 20,094 | 20,039 |
Financing Receivable, Individually Evaluated for Impairment | 7,874 | 7,080 | 7,421 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 1,268,787 | 1,241,358 | 1,173,381 | ||||
Financing Receivable, Net | 1,276,661 | 1,248,438 | 1,180,802 | ||||
Originated Loans | Credit Card Receivable | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 8,591 | 7,801 | 8,831 | 7,966 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | (1,031) | (1,209) | (2,484) | (2,661) | |||
Recoveries | 421 | 358 | 778 | 724 | |||
Provision/ (recapture) for loan losses | (831) | 868 | 25 | 1,789 | |||
Balance at end of the period | 7,150 | 7,818 | 7,150 | 7,818 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 201 | 243 | 250 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 6,949 | 8,588 | 7,568 | ||||
Financing Receivable, Allowance for Credit Losses | 8,591 | 7,801 | 8,831 | 7,966 | 7,150 | 8,831 | 7,818 |
Financing Receivable, Individually Evaluated for Impairment | 679 | 717 | 787 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 174,307 | 182,126 | 167,789 | ||||
Financing Receivable, Net | 174,986 | 182,843 | 168,576 | ||||
Originated Loans | Residential Mortgages | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of the period | 5,363 | 5,921 | 4,729 | 4,745 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | (708) | (373) | (1,158) | (797) | |||
Recoveries | 45 | 89 | 65 | 124 | |||
Provision/ (recapture) for loan losses | 879 | (257) | 1,942 | 1,308 | |||
Balance at end of the period | 5,579 | 5,380 | 5,579 | 5,380 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 981 | 944 | 890 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 4,598 | 3,785 | 4,490 | ||||
Financing Receivable, Allowance for Credit Losses | $ 5,363 | $ 5,921 | $ 4,729 | $ 4,745 | 5,579 | 4,729 | 5,380 |
Financing Receivable, Individually Evaluated for Impairment | 23,385 | 23,905 | 24,697 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 705,149 | 665,140 | 628,446 | ||||
Financing Receivable, Net | $ 728,534 | $ 689,045 | $ 653,143 |
Allowance for Loan Losses (Sc51
Allowance for Loan Losses (Schedule of Credit Losses Related to Acquired Financing Receivables, Current) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Provision/(recapture) for loan losses | $ (6,391) | $ (8,966) | $ (14,200) | $ (17,214) |
Acquired Loans | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of the period | 4,423 | 7,493 | 3,877 | 7,457 |
Charge-offs | (19) | 0 | (19) | 0 |
Recoveries | 0 | 0 | 0 | |
Provision/(recapture) for loan losses | (148) | (2,543) | 398 | (2,507) |
Balance at end of the period | $ 4,256 | $ 4,950 | $ 4,256 | $ 4,950 |
Allowance for Loan Losses (Sc52
Allowance for Loan Losses (Schedule of Credit Losses Related to Covered Financing Receivables, Current Period) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Provision/(recapture) for loan losses | $ 6,391 | $ 8,966 | $ 14,200 | $ 17,214 |
Covered impaired loan | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of the period | 44,599 | 41,514 | 44,679 | 40,496 |
Net provision/(recapture) of loan losses before benefit attributable to FDIC loss share agreements | (227) | 928 | 1,310 | 5,153 |
Net (benefit)/recapture attributable to FDIC loss share agreements | 12 | (1,819) | (257) | (6,046) |
Provision/(recapture) for loan losses | (215) | (891) | 1,053 | (893) |
Increase/(decrease) in loss share receivable | (12) | 1,819 | 257 | 6,046 |
Charge-offs | (4,154) | (815) | (5,771) | (4,022) |
Balance at end of the period | $ 40,218 | $ 41,627 | $ 40,218 | $ 41,627 |
Allowance for Loan Losses (Impa
Allowance for Loan Losses (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Related Allowance | $ 11,128 | ||
Commercial and Industrial | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 6,052 | ||
Commercial Real Estate | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 2,554 | ||
Construction Loans | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 0 | ||
Home equity lines | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 281 | ||
Installment | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 1,054 | ||
Credit Card Receivable | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 243 | ||
Residential Mortgages | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 944 | ||
Originated Loans | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $ 61,085 | 50,141 | |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 65,881 | 57,809 | |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 60,272 | 55,051 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 105,883 | 78,897 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 114,922 | 85,211 | |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 13,454 | $ 11,626 | 14,349 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 78,480 | 62,887 | |
Impaired Financing Receivable, Recorded Investment | 166,968 | 124,035 | 129,038 |
Impaired Financing Receivable, Unpaid Principal Balance | 180,803 | 143,140 | 143,020 |
Impaired Financing Receivable, Related Allowance | 13,454 | 11,626 | 14,349 |
Impaired Financing Receivable, Average Recorded Investment | 138,752 | 109,353 | 117,938 |
Originated Loans | Commercial and Industrial | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 19,489 | 28,076 | 21,066 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 22,663 | 37,358 | 23,854 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 29,022 | 27,238 | 27,215 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 43,218 | 17,893 | 22,752 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 51,933 | 18,062 | 28,881 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 10,447 | 9,117 | 11,837 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 21,305 | 7,199 | 11,284 |
Originated Loans | Commercial Real Estate | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 26,058 | 11,482 | 15,465 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 24,696 | 17,585 | 17,456 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 17,119 | 12,983 | 13,031 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,481 | 590 | 1,149 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 3,563 | 593 | 1,173 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 507 | 151 | 128 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,999 | 600 | 3,037 |
Originated Loans | Construction Loans | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 512 | 0 | 0 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 512 | 0 | 0 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 102 | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | 0 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | 0 |
Originated Loans | Leases | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 1,162 | |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 1,162 | |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 598 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | ||
Originated Loans | Home equity lines | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 884 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,132 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 906 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 6,537 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 6,537 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 169 | 217 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 6,684 | ||
Originated Loans | Installment | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,366 | 1,678 | 1,369 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,697 | 2,183 | 1,658 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,636 | 1,753 | 1,807 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 39,906 | 30,249 | 35,535 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 40,033 | 30,302 | 35,592 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,149 | 1,001 | 1,009 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 35,473 | 25,722 | 28,808 |
Originated Loans | Home Equity Line of Credit | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 695 | 670 | |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 948 | 919 | |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 694 | 999 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 7,179 | 6,410 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 7,180 | 6,411 | |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 217 | 188 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 6,803 | 6,382 | |
Originated Loans | Credit Card Receivable | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 15 | 19 | 21 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 15 | 19 | 21 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 19 | 26 | 20 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 664 | 768 | 696 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 664 | 768 | 696 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 201 | 250 | 243 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 699 | 823 | 757 |
Originated Loans | Residential Mortgages | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 11,950 | 12,047 | 11,550 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 14,350 | 14,700 | 13,901 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 11,680 | 12,146 | 11,979 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 11,435 | 12,650 | 12,355 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 11,549 | 12,739 | 12,458 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 981 | 890 | 944 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | $ 12,201 | 12,675 | $ 12,619 |
Originated Loans | Total impaired loans with no related allowance | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 55,348 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 74,139 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 55,650 | ||
Originated Loans | Total impaired loans with a related allowance | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 68,687 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 69,001 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 11,626 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | $ 53,703 |
Allowance for Loan Losses (Trou
Allowance for Loan Losses (Troubled Debt Restructuring on Financing Receivables) (Details) $ in Thousands | Jun. 30, 2016USD ($)loans | Dec. 31, 2015USD ($)loans | Jun. 30, 2015USD ($)loans |
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 2,476 | 2,402 | 2,568 |
Recorded Investment | $ 170,086 | $ 160,928 | $ 138,986 |
Unpaid Principal Balance | $ 177,992 | $ 165,694 | $ 182,187 |
Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 2,123 | 2,054 | 2,189 |
Recorded Investment | $ 130,865 | $ 116,364 | $ 104,648 |
Unpaid Principal Balance | $ 139,446 | $ 122,044 | $ 120,599 |
Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 278 | 262 | 260 |
Recorded Investment | $ 17,002 | $ 19,518 | $ 11,362 |
Unpaid Principal Balance | $ 17,913 | $ 20,026 | 11,891 |
Covered Consumer Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 75 | 86 | |
Recorded Investment | $ 22,219 | $ 25,046 | $ 10,747 |
Unpaid Principal Balance | $ 20,633 | $ 23,624 | |
Covered TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 119 | ||
Recorded Investment | $ 22,976 | ||
Unpaid Principal Balance | $ 49,697 | ||
Commercial and Industrial | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 27 | 27 | 66 |
Recorded Investment | $ 36,650 | $ 40,698 | $ 29,454 |
Unpaid Principal Balance | $ 39,985 | $ 41,351 | $ 37,892 |
Commercial and Industrial | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 27 | 26 | 56 |
Recorded Investment | $ 36,650 | $ 33,087 | $ 29,454 |
Unpaid Principal Balance | $ 39,985 | $ 33,740 | $ 36,538 |
Commercial and Industrial | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 0 | 1 | 2 |
Recorded Investment | $ 0 | $ 7,611 | $ 0 |
Unpaid Principal Balance | $ 0 | $ 7,611 | $ 55 |
Commercial and Industrial | Covered Loans Commercial | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 0 | 0 | 8 |
Recorded Investment | $ 0 | $ 0 | $ 0 |
Unpaid Principal Balance | $ 0 | $ 0 | $ 1,299 |
Commercial Real Estate | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 35 | 30 | 96 |
Recorded Investment | $ 38,127 | $ 29,645 | $ 22,996 |
Unpaid Principal Balance | $ 38,895 | $ 30,171 | $ 44,632 |
Commercial Real Estate | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 26 | 24 | 69 |
Recorded Investment | $ 20,005 | $ 14,671 | $ 10,362 |
Unpaid Principal Balance | $ 22,025 | $ 16,648 | $ 15,681 |
Commercial Real Estate | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 6 | 3 | 3 |
Recorded Investment | $ 4,998 | $ 918 | $ 930 |
Unpaid Principal Balance | $ 5,453 | $ 1,044 | $ 1,018 |
Commercial Real Estate | Covered Loans Commercial | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 3 | 3 | 24 |
Recorded Investment | $ 13,124 | $ 14,056 | $ 11,704 |
Unpaid Principal Balance | $ 11,417 | $ 12,479 | $ 27,933 |
Commercial | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 5 | ||
Recorded Investment | $ 930 | ||
Unpaid Principal Balance | $ 1,073 | ||
Construction Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 1 | 1 | 40 |
Recorded Investment | $ 566 | $ 593 | $ 525 |
Unpaid Principal Balance | $ 672 | $ 682 | $ 9,542 |
Construction Loans | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 0 | 0 | 31 |
Recorded Investment | $ 0 | $ 0 | $ 0 |
Unpaid Principal Balance | $ 0 | $ 0 | $ 0 |
Construction Loans | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 0 | ||
Recorded Investment | $ 0 | ||
Unpaid Principal Balance | $ 0 | ||
Construction Loans | Covered Loans Commercial | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 1 | 1 | 9 |
Recorded Investment | $ 566 | $ 593 | $ 525 |
Unpaid Principal Balance | $ 672 | $ 682 | $ 9,542 |
Commercial Loan | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 63 | 58 | 202 |
Recorded Investment | $ 75,343 | $ 70,936 | $ 52,975 |
Unpaid Principal Balance | $ 79,552 | $ 72,204 | $ 92,066 |
Commercial Loan | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 53 | 50 | 156 |
Recorded Investment | $ 56,655 | $ 47,758 | $ 39,816 |
Unpaid Principal Balance | $ 62,010 | $ 50,388 | 52,219 |
Commercial Loan | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 6 | 4 | |
Recorded Investment | $ 4,998 | $ 8,529 | $ 930 |
Unpaid Principal Balance | $ 5,453 | $ 8,655 | |
Commercial Loan | Covered Loans Commercial | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 4 | 4 | 41 |
Recorded Investment | $ 13,690 | $ 14,649 | $ 12,229 |
Unpaid Principal Balance | $ 12,089 | $ 13,161 | 38,774 |
Commercial Loan | Covered TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Recorded Investment | $ 12,229 | ||
Consumer Loan | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 2,413 | 2,344 | 2,366 |
Recorded Investment | $ 94,743 | $ 89,992 | $ 86,011 |
Unpaid Principal Balance | $ 98,440 | $ 93,490 | $ 90,121 |
Consumer Loan | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 2,070 | 2,004 | 2,033 |
Recorded Investment | $ 74,210 | $ 68,606 | $ 64,832 |
Unpaid Principal Balance | $ 77,436 | $ 71,656 | $ 68,380 |
Consumer Loan | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 272 | 258 | 255 |
Recorded Investment | $ 12,004 | $ 10,989 | $ 10,432 |
Unpaid Principal Balance | $ 12,460 | $ 11,371 | $ 10,818 |
Consumer Loan | Covered Consumer Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 71 | 82 | 78 |
Recorded Investment | $ 8,529 | $ 10,397 | $ 10,747 |
Unpaid Principal Balance | $ 8,544 | $ 10,463 | $ 10,923 |
Residential Mortgages | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 335 | 344 | 348 |
Recorded Investment | $ 26,284 | $ 26,241 | $ 27,031 |
Unpaid Principal Balance | $ 29,115 | $ 28,923 | $ 30,009 |
Residential Mortgages | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 303 | 312 | 316 |
Recorded Investment | $ 23,385 | $ 23,905 | $ 24,697 |
Unpaid Principal Balance | $ 25,899 | $ 26,359 | $ 27,439 |
Residential Mortgages | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 32 | 31 | 31 |
Recorded Investment | $ 2,899 | $ 2,154 | $ 2,150 |
Unpaid Principal Balance | $ 3,216 | $ 2,382 | 2,386 |
Residential Mortgages | Covered Consumer Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 0 | 1 | |
Recorded Investment | $ 0 | $ 182 | $ 184 |
Unpaid Principal Balance | $ 0 | $ 182 | |
Credit Card Receivable | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 197 | 212 | 231 |
Recorded Investment | $ 679 | $ 717 | $ 787 |
Unpaid Principal Balance | $ 679 | $ 717 | $ 787 |
Credit Card Receivable | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 197 | 212 | 231 |
Recorded Investment | $ 679 | $ 717 | $ 787 |
Unpaid Principal Balance | $ 679 | $ 717 | $ 787 |
Residential Real Estate | Covered TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 1 | ||
Recorded Investment | $ 184 | ||
Unpaid Principal Balance | $ 184 | ||
Installment | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 1,377 | 1,274 | 1,265 |
Recorded Investment | $ 43,857 | $ 38,021 | $ 33,071 |
Unpaid Principal Balance | $ 44,391 | $ 38,461 | $ 33,712 |
Installment | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 1,310 | 1,223 | 1,215 |
Recorded Investment | $ 42,272 | $ 36,904 | $ 31,927 |
Unpaid Principal Balance | $ 42,730 | $ 37,250 | $ 32,485 |
Installment | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 67 | 51 | 50 |
Recorded Investment | $ 1,585 | $ 1,117 | $ 1,144 |
Unpaid Principal Balance | $ 1,661 | $ 1,211 | $ 1,227 |
Consumer Home Equity Lines Financing Receivable | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 504 | 514 | 522 |
Recorded Investment | $ 23,923 | $ 25,013 | $ 25,122 |
Unpaid Principal Balance | $ 24,255 | $ 25,389 | $ 25,613 |
Consumer Home Equity Lines Financing Receivable | Originated Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 260 | 257 | 271 |
Recorded Investment | $ 7,874 | $ 7,080 | $ 7,421 |
Unpaid Principal Balance | $ 8,128 | $ 7,330 | $ 7,669 |
Consumer Home Equity Lines Financing Receivable | Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 173 | 176 | 174 |
Recorded Investment | $ 7,520 | $ 7,718 | $ 7,138 |
Unpaid Principal Balance | $ 7,583 | $ 7,778 | $ 7,205 |
Consumer Home Equity Lines Financing Receivable | Covered Consumer Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts at period end | loans | 71 | 81 | 77 |
Recorded Investment | $ 8,529 | $ 10,215 | $ 10,563 |
Unpaid Principal Balance | $ 8,544 | $ 10,281 | $ 10,739 |
Allowance for Loan Losses (Accr
Allowance for Loan Losses (Accruing and Non-Accruing Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | $ 170,086 | $ 160,928 | $ 138,986 |
Impaired Financing Receivable, Related Allowance | 11,128 | ||
Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 14,583,606 | 14,034,985 | 13,275,700 |
Financing Receivable, Recorded Investment, Past Due | 82,025 | 83,520 | 80,212 |
Financing Receivable, Net | 14,665,631 | 14,118,505 | 13,355,912 |
Recorded Investment | 130,865 | 116,364 | 104,648 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 13,454 | 14,349 | 11,626 |
Impaired Financing Receivable, Related Allowance | 13,454 | 14,349 | 11,626 |
Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 1,463,445 | 1,697,364 | 2,050,779 |
Financing Receivable, Recorded Investment, Past Due | 25,191 | 45,707 | 44,905 |
Financing Receivable, Net | 1,488,636 | 1,743,071 | 2,095,684 |
Recorded Investment | 17,002 | 19,518 | 11,362 |
Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 22,219 | 25,046 | 10,747 |
Impaired Financing Receivable, Related Allowance | 23 | ||
Covered TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 22,976 | ||
Impaired Financing Receivable, Related Allowance | 2,356 | ||
Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 107,381 | 115,149 | 93,245 |
Financing Receivable, Recorded Investment, Past Due | 3,739 | 21,461 | 15,373 |
Financing Receivable, Net | 111,120 | 136,610 | 108,618 |
Accruing TDRs | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 86,048 | 87,694 | 74,249 |
Financing Receivable, Recorded Investment, Past Due | 2,846 | 6,298 | 2,915 |
Financing Receivable, Net | 88,894 | 93,992 | 77,164 |
Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 12,941 | 16,615 | 8,782 |
Financing Receivable, Recorded Investment, Past Due | 806 | 1,037 | 665 |
Financing Receivable, Net | 13,747 | 17,652 | 9,447 |
Accruing TDRs | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 10,247 | 9,689 | |
Financing Receivable, Recorded Investment, Past Due | 70 | 89 | |
Financing Receivable, Net | 10,317 | 9,778 | |
Accruing TDRs | Covered TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 8,392 | 10,840 | 10,214 |
Financing Receivable, Recorded Investment, Past Due | 87 | 14,126 | 11,793 |
Financing Receivable, Net | 8,479 | 24,966 | 22,007 |
Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 25,136 | 12,713 | 19,598 |
Financing Receivable, Recorded Investment, Past Due | 33,830 | 11,605 | 10,770 |
Financing Receivable, Net | 58,966 | 24,318 | 30,368 |
Nonaccruing TDRs | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 21,392 | 11,110 | 17,762 |
Financing Receivable, Recorded Investment, Past Due | 20,579 | 11,262 | 9,722 |
Financing Receivable, Net | 41,971 | 22,372 | 27,484 |
Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 3,128 | 1,597 | 1,693 |
Financing Receivable, Recorded Investment, Past Due | 127 | 269 | 222 |
Financing Receivable, Net | 3,255 | 1,866 | 1,915 |
Nonaccruing TDRs | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 6 | 143 | |
Financing Receivable, Recorded Investment, Past Due | 74 | 826 | |
Financing Receivable, Net | 80 | 969 | |
Nonaccruing TDRs | Covered TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 616 | 6 | 143 |
Financing Receivable, Recorded Investment, Past Due | 13,124 | 74 | 826 |
Financing Receivable, Net | 13,740 | 80 | 969 |
Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 10,237 | 7,968 | |
Total Tdr Allowance | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 130,865 | 116,364 | |
Impaired Financing Receivable, Related Allowance | 7,422 | 8,456 | 5,314 |
Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 17,002 | 19,518 | |
Impaired Financing Receivable, Related Allowance | 533 | 316 | 142 |
Total Tdr Allowance | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 23 | ||
Total Tdr Allowance | Covered TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 22,219 | 25,046 | |
Impaired Financing Receivable, Related Allowance | 2,282 | 2,512 | |
Commercial and Industrial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 36,650 | 40,698 | 29,454 |
Impaired Financing Receivable, Related Allowance | 6,052 | ||
Commercial and Industrial | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 29,454 | ||
Commercial and Industrial | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 5,868,988 | 5,779,785 | 5,459,797 |
Financing Receivable, Recorded Investment, Past Due | 14,006 | 13,623 | 11,566 |
Financing Receivable, Net | 5,882,994 | 5,793,408 | 5,471,363 |
Recorded Investment | 36,650 | 33,087 | 29,454 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 10,447 | 11,837 | 9,117 |
Commercial and Industrial | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 179,874 | 236,467 | 334,012 |
Financing Receivable, Recorded Investment, Past Due | 1,629 | 3,678 | 3,411 |
Financing Receivable, Net | 181,503 | 240,145 | 337,423 |
Recorded Investment | 0 | 7,611 | 0 |
Commercial and Industrial | Covered Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | 0 | 0 |
Commercial and Industrial | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | ||
Commercial and Industrial | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 16,082 | 30,177 | 17,346 |
Financing Receivable, Recorded Investment, Past Due | 969 | 107 | 0 |
Financing Receivable, Net | 17,051 | 30,284 | 17,346 |
Commercial and Industrial | Accruing TDRs | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 16,082 | 22,566 | 17,346 |
Financing Receivable, Recorded Investment, Past Due | 969 | 107 | 0 |
Financing Receivable, Net | 17,051 | 22,673 | 17,346 |
Commercial and Industrial | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 7,611 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 7,611 | 0 |
Commercial and Industrial | Accruing TDRs | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 0 | 0 |
Commercial and Industrial | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 13,068 | 4,229 | 9,260 |
Financing Receivable, Recorded Investment, Past Due | 6,531 | 6,185 | 2,848 |
Financing Receivable, Net | 19,599 | 10,414 | 12,108 |
Commercial and Industrial | Nonaccruing TDRs | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 13,068 | 4,229 | 9,260 |
Financing Receivable, Recorded Investment, Past Due | 6,531 | 6,185 | 2,848 |
Financing Receivable, Net | 19,599 | 10,414 | 12,108 |
Commercial and Industrial | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 0 | 0 |
Commercial and Industrial | Nonaccruing TDRs | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 0 | 0 |
Commercial and Industrial | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 36,650 | ||
Impaired Financing Receivable, Related Allowance | 4,917 | 2,893 | |
Commercial and Industrial | Total Tdr Allowance | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 36,650 | 33,087 | |
Impaired Financing Receivable, Related Allowance | 4,917 | 6,052 | 2,893 |
Commercial and Industrial | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | 7,611 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 |
Commercial and Industrial | Total Tdr Allowance | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Commercial Loan | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 75,343 | 70,936 | 52,975 |
Impaired Financing Receivable, Related Allowance | 8,606 | ||
Commercial Loan | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 39,816 | ||
Commercial Loan | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 56,655 | 47,758 | 39,816 |
Commercial Loan | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 4,998 | 8,529 | 930 |
Commercial Loan | Covered Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 13,690 | 14,649 | 12,229 |
Commercial Loan | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 14,649 | ||
Impaired Financing Receivable, Related Allowance | 2,333 | ||
Commercial Loan | Covered TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 12,229 | ||
Commercial Loan | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 27,653 | 41,041 | 23,839 |
Financing Receivable, Recorded Investment, Past Due | 1,062 | 16,410 | 11,704 |
Financing Receivable, Net | 28,715 | 57,451 | 35,543 |
Commercial Loan | Accruing TDRs | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 24,933 | 32,837 | 23,314 |
Financing Receivable, Recorded Investment, Past Due | 1,062 | 2,354 | 0 |
Financing Receivable, Net | 25,995 | 35,191 | 23,314 |
Commercial Loan | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 2,720 | 7,611 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 2,720 | 7,611 | 0 |
Commercial Loan | Accruing TDRs | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 593 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 14,056 | |
Financing Receivable, Net | 0 | 14,649 | |
Commercial Loan | Accruing TDRs | Covered TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 525 | ||
Financing Receivable, Recorded Investment, Past Due | 11,704 | ||
Financing Receivable, Net | 12,229 | ||
Commercial Loan | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 15,896 | 5,634 | 11,788 |
Financing Receivable, Recorded Investment, Past Due | 30,732 | 7,851 | 5,644 |
Financing Receivable, Net | 46,628 | 13,485 | 17,432 |
Commercial Loan | Nonaccruing TDRs | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 13,179 | 4,975 | 10,858 |
Financing Receivable, Recorded Investment, Past Due | 17,481 | 7,592 | 5,644 |
Financing Receivable, Net | 30,660 | 12,567 | 16,502 |
Commercial Loan | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 2,151 | 659 | 930 |
Financing Receivable, Recorded Investment, Past Due | 127 | 259 | 0 |
Financing Receivable, Net | 2,278 | 918 | 930 |
Commercial Loan | Nonaccruing TDRs | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 566 | 0 | |
Financing Receivable, Recorded Investment, Past Due | 13,124 | 0 | |
Financing Receivable, Net | 13,690 | 0 | |
Commercial Loan | Nonaccruing TDRs | Covered TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | ||
Financing Receivable, Recorded Investment, Past Due | 0 | ||
Financing Receivable, Net | 0 | ||
Commercial Loan | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 75,343 | ||
Impaired Financing Receivable, Related Allowance | 7,339 | 5,543 | |
Commercial Loan | Total Tdr Allowance | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 56,655 | 47,758 | |
Impaired Financing Receivable, Related Allowance | 4,922 | 6,072 | 2,956 |
Commercial Loan | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 4,998 | 8,529 | |
Impaired Financing Receivable, Related Allowance | 156 | 201 | 98 |
Commercial Loan | Total Tdr Allowance | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 13,690 | ||
Impaired Financing Receivable, Related Allowance | 2,261 | ||
Commercial Loan | Total Tdr Allowance | Covered TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 2,489 | ||
Construction Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 566 | 593 | 525 |
Impaired Financing Receivable, Related Allowance | 0 | ||
Construction Loans | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | ||
Construction Loans | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 699,871 | 643,491 | |
Financing Receivable, Recorded Investment, Past Due | 5,469 | 1,846 | |
Financing Receivable, Net | 705,340 | 645,337 | 586,895 |
Recorded Investment | 0 | 0 | 0 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 |
Construction Loans | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 3,698 | 5,380 | |
Financing Receivable, Recorded Investment, Past Due | 413 | 733 | |
Financing Receivable, Net | 4,111 | 6,113 | 6,230 |
Recorded Investment | 0 | ||
Construction Loans | Covered Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 566 | 593 | 525 |
Construction Loans | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 593 | 525 | |
Impaired Financing Receivable, Related Allowance | 0 | ||
Construction Loans | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 593 | 525 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 593 | 525 |
Construction Loans | Accruing TDRs | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 0 | 0 |
Construction Loans | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | ||
Financing Receivable, Recorded Investment, Past Due | 0 | ||
Financing Receivable, Net | 0 | ||
Construction Loans | Accruing TDRs | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 593 | 525 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 593 | 525 |
Construction Loans | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 566 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 566 | 0 | 0 |
Construction Loans | Nonaccruing TDRs | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 0 | 0 |
Construction Loans | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | ||
Financing Receivable, Recorded Investment, Past Due | 0 | ||
Financing Receivable, Net | 0 | ||
Construction Loans | Nonaccruing TDRs | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 566 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 566 | 0 | 0 |
Construction Loans | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 566 | ||
Impaired Financing Receivable, Related Allowance | 25 | 96 | |
Construction Loans | Total Tdr Allowance | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 |
Construction Loans | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | ||
Construction Loans | Total Tdr Allowance | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 566 | ||
Impaired Financing Receivable, Related Allowance | 25 | 96 | |
Consumer Home Equity Lines Financing Receivable | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 23,923 | 25,013 | 25,122 |
Impaired Financing Receivable, Related Allowance | 281 | ||
Consumer Home Equity Lines Financing Receivable | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 7,421 | ||
Consumer Home Equity Lines Financing Receivable | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 7,874 | 7,080 | 7,421 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 169 | 217 | |
Consumer Home Equity Lines Financing Receivable | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 7,520 | 7,718 | 7,138 |
Consumer Home Equity Lines Financing Receivable | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 8,529 | 10,215 | 10,563 |
Impaired Financing Receivable, Related Allowance | 23 | ||
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 22,229 | 23,517 | 22,503 |
Financing Receivable, Recorded Investment, Past Due | 749 | 839 | 814 |
Financing Receivable, Net | 22,978 | 24,356 | 23,317 |
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 7,017 | 6,511 | 6,611 |
Financing Receivable, Recorded Investment, Past Due | 79 | 114 | 107 |
Financing Receivable, Net | 7,096 | 6,625 | 6,718 |
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 6,820 | 6,941 | 6,387 |
Financing Receivable, Recorded Investment, Past Due | 583 | 655 | 618 |
Financing Receivable, Net | 7,403 | 7,596 | 7,005 |
Consumer Home Equity Lines Financing Receivable | Accruing TDRs | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 8,392 | 10,065 | 9,505 |
Financing Receivable, Recorded Investment, Past Due | 87 | 70 | 89 |
Financing Receivable, Net | 8,479 | 10,135 | 9,594 |
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 945 | 527 | 833 |
Financing Receivable, Recorded Investment, Past Due | 0 | 130 | 972 |
Financing Receivable, Net | 945 | 657 | 1,805 |
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 778 | 399 | 557 |
Financing Receivable, Recorded Investment, Past Due | 0 | 56 | 146 |
Financing Receivable, Net | 778 | 455 | 703 |
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 117 | 122 | 133 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 117 | 122 | 133 |
Consumer Home Equity Lines Financing Receivable | Nonaccruing TDRs | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 50 | 6 | 143 |
Financing Receivable, Recorded Investment, Past Due | 0 | 74 | 826 |
Financing Receivable, Net | 50 | 80 | 969 |
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 23,923 | ||
Impaired Financing Receivable, Related Allowance | 305 | 240 | |
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 7,874 | 7,080 | |
Impaired Financing Receivable, Related Allowance | 188 | 217 | |
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 7,520 | 7,718 | |
Impaired Financing Receivable, Related Allowance | 115 | 70 | 0 |
Consumer Home Equity Lines Financing Receivable | Total Tdr Allowance | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 8,529 | 10,215 | |
Impaired Financing Receivable, Related Allowance | 21 | 23 | |
Consumer Residential Mortgages Financing Receivable | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 27,031 | ||
Consumer Residential Mortgages Financing Receivable | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 24,697 | ||
Consumer Residential Mortgages Financing Receivable | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 2,150 | ||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 15,422 | ||
Financing Receivable, Recorded Investment, Past Due | 2,105 | ||
Financing Receivable, Net | 17,527 | ||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 13,925 | ||
Financing Receivable, Recorded Investment, Past Due | 2,105 | ||
Financing Receivable, Net | 16,030 | ||
Consumer Residential Mortgages Financing Receivable | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 1,313 | ||
Financing Receivable, Recorded Investment, Past Due | 0 | ||
Financing Receivable, Net | 1,313 | ||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 5,572 | ||
Financing Receivable, Recorded Investment, Past Due | 3,932 | ||
Financing Receivable, Net | 9,504 | ||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 4,957 | ||
Financing Receivable, Recorded Investment, Past Due | 3,710 | ||
Financing Receivable, Net | 8,667 | ||
Consumer Residential Mortgages Financing Receivable | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 615 | ||
Financing Receivable, Recorded Investment, Past Due | 222 | ||
Financing Receivable, Net | 837 | ||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 890 | ||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 890 | ||
Consumer Residential Mortgages Financing Receivable | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 0 | ||
Commercial Real Estate | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 38,127 | 29,645 | 22,996 |
Impaired Financing Receivable, Related Allowance | 2,554 | ||
Commercial Real Estate | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 10,362 | ||
Commercial Real Estate | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Net | 2,035,498 | 2,077,344 | 2,138,372 |
Recorded Investment | 20,005 | 14,671 | 10,362 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 507 | 128 | 151 |
Commercial Real Estate | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 4,998 | 918 | 930 |
Commercial Real Estate | Covered Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 13,124 | 14,056 | 11,704 |
Commercial Real Estate | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 14,056 | 11,704 | |
Impaired Financing Receivable, Related Allowance | 2,333 | ||
Commercial Real Estate | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 11,571 | 10,271 | 5,968 |
Financing Receivable, Recorded Investment, Past Due | 93 | 16,303 | 11,704 |
Financing Receivable, Net | 11,664 | 26,574 | 17,672 |
Commercial Real Estate | Accruing TDRs | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 8,851 | 10,271 | 5,968 |
Financing Receivable, Recorded Investment, Past Due | 93 | 2,247 | 0 |
Financing Receivable, Net | 8,944 | 12,518 | 5,968 |
Commercial Real Estate | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 2,720 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 2,720 | 0 | 0 |
Commercial Real Estate | Accruing TDRs | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 14,056 | 11,704 |
Financing Receivable, Net | 0 | 14,056 | 11,704 |
Commercial Real Estate | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 2,262 | 1,405 | 2,528 |
Financing Receivable, Recorded Investment, Past Due | 24,201 | 1,666 | 2,796 |
Financing Receivable, Net | 26,463 | 3,071 | 5,324 |
Commercial Real Estate | Nonaccruing TDRs | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 111 | 746 | 1,598 |
Financing Receivable, Recorded Investment, Past Due | 10,950 | 1,407 | 2,796 |
Financing Receivable, Net | 11,061 | 2,153 | 4,394 |
Commercial Real Estate | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 2,151 | 659 | 930 |
Financing Receivable, Recorded Investment, Past Due | 127 | 259 | 0 |
Financing Receivable, Net | 2,278 | 918 | 930 |
Commercial Real Estate | Nonaccruing TDRs | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 13,124 | 0 | 0 |
Financing Receivable, Net | 13,124 | 0 | 0 |
Commercial Real Estate | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 38,127 | ||
Impaired Financing Receivable, Related Allowance | 2,397 | 2,554 | |
Commercial Real Estate | Total Tdr Allowance | Originated Loans Commercial | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 20,005 | 14,671 | |
Impaired Financing Receivable, Related Allowance | 5 | 20 | 63 |
Commercial Real Estate | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 4,998 | 918 | |
Impaired Financing Receivable, Related Allowance | 156 | 201 | 98 |
Commercial Real Estate | Total Tdr Allowance | Covered Commercial TDR Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 13,124 | ||
Impaired Financing Receivable, Related Allowance | 2,236 | 2,393 | |
Consumer Installment | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 33,071 | ||
Consumer Installment | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 31,927 | ||
Consumer Installment | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 1,144 | ||
Consumer Installment | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 30,797 | ||
Financing Receivable, Recorded Investment, Past Due | 650 | ||
Financing Receivable, Net | 31,447 | ||
Consumer Installment | Accruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 29,715 | ||
Financing Receivable, Recorded Investment, Past Due | 603 | ||
Financing Receivable, Net | 30,318 | ||
Consumer Installment | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 1,082 | ||
Financing Receivable, Recorded Investment, Past Due | 47 | ||
Financing Receivable, Net | 1,129 | ||
Consumer Installment | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 1,405 | ||
Financing Receivable, Recorded Investment, Past Due | 219 | ||
Financing Receivable, Net | 1,624 | ||
Consumer Installment | Nonaccruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 1,390 | ||
Financing Receivable, Recorded Investment, Past Due | 219 | ||
Financing Receivable, Net | 1,609 | ||
Consumer Installment | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 15 | ||
Financing Receivable, Recorded Investment, Past Due | 0 | ||
Financing Receivable, Net | 15 | ||
Consumer Installment | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 1,045 | ||
Consumer Installment | Total Tdr Allowance | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 1,001 | ||
Consumer Installment | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 44 | ||
Residential Mortgages | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 26,284 | 26,241 | 27,031 |
Impaired Financing Receivable, Related Allowance | 944 | ||
Residential Mortgages | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 712,720 | 669,734 | 633,821 |
Financing Receivable, Recorded Investment, Past Due | 15,814 | 19,311 | 19,322 |
Financing Receivable, Net | 728,534 | 689,045 | 653,143 |
Recorded Investment | 23,385 | 23,905 | 24,697 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 981 | 944 | 890 |
Residential Mortgages | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 287,768 | 307,889 | 352,298 |
Financing Receivable, Recorded Investment, Past Due | 5,109 | 16,119 | 6,261 |
Financing Receivable, Net | 292,877 | 324,008 | 358,559 |
Recorded Investment | 2,899 | 2,154 | 2,150 |
Residential Mortgages | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | 182 | 184 |
Impaired Financing Receivable, Related Allowance | 0 | ||
Residential Mortgages | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 16,583 | 14,147 | |
Financing Receivable, Recorded Investment, Past Due | 524 | 3,152 | |
Financing Receivable, Net | 17,107 | 17,299 | |
Residential Mortgages | Accruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 14,324 | 12,869 | |
Financing Receivable, Recorded Investment, Past Due | 524 | 2,896 | |
Financing Receivable, Net | 14,848 | 15,765 | |
Residential Mortgages | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 2,259 | 1,096 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 256 | |
Financing Receivable, Net | 2,259 | 1,352 | |
Residential Mortgages | Accruing TDRs | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 182 | 184 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 182 | 184 |
Residential Mortgages | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 6,357 | 5,413 | |
Financing Receivable, Recorded Investment, Past Due | 2,820 | 3,529 | |
Financing Receivable, Net | 9,177 | 8,942 | |
Residential Mortgages | Nonaccruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 5,717 | 4,611 | |
Financing Receivable, Recorded Investment, Past Due | 2,820 | 3,529 | |
Financing Receivable, Net | 8,537 | 8,140 | |
Residential Mortgages | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 640 | 802 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Financing Receivable, Net | 640 | 802 | |
Residential Mortgages | Nonaccruing TDRs | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 |
Financing Receivable, Net | 0 | 0 | 0 |
Residential Mortgages | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 26,284 | ||
Impaired Financing Receivable, Related Allowance | 1,157 | ||
Residential Mortgages | Total Tdr Allowance | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 23,385 | 23,905 | |
Impaired Financing Receivable, Related Allowance | 944 | ||
Residential Mortgages | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 2,899 | 2,154 | |
Impaired Financing Receivable, Related Allowance | 176 | 0 | |
Residential Mortgages | Total Tdr Allowance | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 0 | 182 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Credit Card Receivable | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 679 | 717 | 787 |
Impaired Financing Receivable, Related Allowance | 243 | ||
Credit Card Receivable | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 787 | ||
Credit Card Receivable | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 172,811 | 180,268 | 167,001 |
Financing Receivable, Recorded Investment, Past Due | 2,175 | 2,575 | 1,575 |
Financing Receivable, Net | 174,986 | 182,843 | 168,576 |
Recorded Investment | 679 | 717 | 787 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 201 | 243 | 250 |
Credit Card Receivable | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 519 | 575 | 684 |
Financing Receivable, Recorded Investment, Past Due | 117 | 140 | 100 |
Financing Receivable, Net | 636 | 715 | 784 |
Credit Card Receivable | Accruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 519 | 575 | 684 |
Financing Receivable, Recorded Investment, Past Due | 117 | 140 | 100 |
Financing Receivable, Net | 636 | 715 | 784 |
Credit Card Receivable | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 43 | 2 | 3 |
Financing Receivable, Net | 43 | 2 | 3 |
Credit Card Receivable | Nonaccruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 0 | 0 | 0 |
Financing Receivable, Recorded Investment, Past Due | 43 | 2 | 3 |
Financing Receivable, Net | 43 | 2 | 3 |
Credit Card Receivable | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 679 | ||
Impaired Financing Receivable, Related Allowance | 201 | 250 | |
Credit Card Receivable | Total Tdr Allowance | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 679 | 717 | |
Impaired Financing Receivable, Related Allowance | 243 | 250 | |
Total consumer | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 94,743 | 89,992 | 86,011 |
Impaired Financing Receivable, Related Allowance | 2,522 | ||
Total consumer | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 64,832 | ||
Total consumer | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 74,210 | 68,606 | 64,832 |
Total consumer | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 12,004 | 10,989 | 10,432 |
Total consumer | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 8,529 | 10,397 | 10,747 |
Total consumer | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 79,728 | 74,108 | 69,406 |
Financing Receivable, Recorded Investment, Past Due | 2,677 | 5,051 | 3,669 |
Financing Receivable, Net | 82,405 | 79,159 | 73,075 |
Total consumer | Accruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 61,115 | 54,857 | 50,935 |
Financing Receivable, Recorded Investment, Past Due | 1,784 | 3,944 | 2,915 |
Financing Receivable, Net | 62,899 | 58,801 | 53,850 |
Total consumer | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 10,221 | 9,004 | 8,782 |
Financing Receivable, Recorded Investment, Past Due | 806 | 1,037 | 665 |
Financing Receivable, Net | 11,027 | 10,041 | 9,447 |
Total consumer | Accruing TDRs | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 8,392 | ||
Financing Receivable, Recorded Investment, Past Due | 87 | ||
Financing Receivable, Net | 8,479 | ||
Total consumer | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 9,240 | 7,079 | 7,810 |
Financing Receivable, Recorded Investment, Past Due | 3,098 | 3,754 | 5,126 |
Financing Receivable, Net | 12,338 | 10,833 | 12,936 |
Total consumer | Nonaccruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 8,213 | 6,135 | 6,904 |
Financing Receivable, Recorded Investment, Past Due | 3,098 | 3,670 | 4,078 |
Financing Receivable, Net | 11,311 | 9,805 | 10,982 |
Total consumer | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 977 | 938 | 763 |
Financing Receivable, Recorded Investment, Past Due | 0 | 10 | 222 |
Financing Receivable, Net | 977 | 948 | 985 |
Total consumer | Nonaccruing TDRs | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 50 | ||
Financing Receivable, Recorded Investment, Past Due | 0 | ||
Financing Receivable, Net | 50 | ||
Total consumer | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 94,743 | ||
Impaired Financing Receivable, Related Allowance | 2,898 | 2,425 | |
Total consumer | Total Tdr Allowance | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 74,210 | 68,606 | |
Impaired Financing Receivable, Related Allowance | 2,500 | 2,384 | 2,358 |
Total consumer | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 12,004 | 10,989 | |
Impaired Financing Receivable, Related Allowance | 377 | 115 | 44 |
Total consumer | Total Tdr Allowance | Covered Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 8,529 | 10,397 | |
Impaired Financing Receivable, Related Allowance | 21 | ||
Installment | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 43,857 | 38,021 | 33,071 |
Impaired Financing Receivable, Related Allowance | 1,054 | ||
Installment | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 3,329,921 | 2,963,667 | 2,701,332 |
Financing Receivable, Recorded Investment, Past Due | 23,163 | 26,682 | 18,727 |
Financing Receivable, Net | 3,353,084 | 2,990,349 | 2,720,059 |
Recorded Investment | 42,272 | 36,904 | 31,927 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,149 | 1,009 | 1,001 |
Installment | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 489,553 | 566,010 | 653,237 |
Financing Receivable, Recorded Investment, Past Due | 4,876 | 7,362 | 6,111 |
Financing Receivable, Net | 494,429 | 573,372 | 659,348 |
Recorded Investment | 1,585 | 1,117 | 1,144 |
Installment | Accruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 40,397 | 35,869 | |
Financing Receivable, Recorded Investment, Past Due | 1,287 | 920 | |
Financing Receivable, Net | 41,684 | 36,789 | |
Installment | Accruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 39,255 | 34,902 | |
Financing Receivable, Recorded Investment, Past Due | 1,064 | 794 | |
Financing Receivable, Net | 40,319 | 35,696 | |
Installment | Accruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 1,142 | 967 | |
Financing Receivable, Recorded Investment, Past Due | 223 | 126 | |
Financing Receivable, Net | 1,365 | 1,093 | |
Installment | Nonaccruing TDRs | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 1,938 | 1,139 | |
Financing Receivable, Recorded Investment, Past Due | 235 | 93 | |
Financing Receivable, Net | 2,173 | 1,232 | |
Installment | Nonaccruing TDRs | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 1,718 | 1,125 | |
Financing Receivable, Recorded Investment, Past Due | 235 | 83 | |
Financing Receivable, Net | 1,953 | 1,208 | |
Installment | Nonaccruing TDRs | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 220 | 14 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 10 | |
Financing Receivable, Net | 220 | 24 | |
Installment | Total Tdr Allowance | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 43,857 | ||
Impaired Financing Receivable, Related Allowance | 1,235 | ||
Installment | Total Tdr Allowance | Originated Consumer Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 42,272 | 36,904 | |
Impaired Financing Receivable, Related Allowance | 1,009 | ||
Installment | Total Tdr Allowance | Acquired Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Recorded Investment | 1,585 | 1,117 | |
Impaired Financing Receivable, Related Allowance | 86 | 45 | |
Home Equity Line of Credit | Originated Loans | |||
Accruing and Nonaccruing Troubled Debt Restructurings [Line Items] | |||
Financing Receivable, Net | $ 1,276,661 | 1,248,438 | 1,180,802 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 188 | $ 217 |
Allowance for Loan Losses (Sc56
Allowance for Loan Losses (Schedule of Defaulted Troubled Debt Restructuring) (Details) $ in Thousands | Jun. 30, 2016USD ($)loans | Dec. 31, 2015USD ($)loans | Jun. 30, 2015USD ($)loans |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 2 | 4 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 15 | $ 408 | |
Credit Card Receivable | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 1 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 1 | |
Credit Card Receivable | Originated Consumer Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 1 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 1 | |
Commercial and Industrial | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial and Industrial | Originated Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial and Industrial | Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial and Industrial | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial Real Estate | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial Real Estate | Originated Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial Real Estate | Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial Real Estate | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Construction Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Construction Loans | Originated Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Construction Loans | Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Construction Loans | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial Loan | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial Loan | Originated Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial Loan | Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Commercial Loan | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Installment | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 2 | ||
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 15 | ||
Installment | Originated Consumer Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 2 | ||
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 15 | ||
Installment | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | ||
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | ||
Consumer Installment | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 2 | ||
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 39 | ||
Consumer Installment | Originated Consumer Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 1 | ||
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 6 | ||
Consumer Installment | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 1 | ||
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 33 | ||
Consumer Home Equity Lines Financing Receivable | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Consumer Home Equity Lines Financing Receivable | Originated Consumer Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Consumer Home Equity Lines Financing Receivable | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Residential Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 1 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 368 | |
Residential Mortgages | Originated Consumer Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 1 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 368 | |
Residential Mortgages | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 0 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 0 | |
Total consumer | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 2 | 4 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 15 | $ 408 | |
Total consumer | Originated Consumer Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 2 | 3 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 15 | $ 375 | |
Total consumer | Acquired Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing receivable, modifications, subsequent default, number of contracts at period end | loans | 0 | 1 | |
Financing receivable, modifications, subsequent default, recorded investment | $ | $ 0 | $ 33 |
Allowance for Loan Losses (Deta
Allowance for Loan Losses (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Allowance For Loan And Lease Losses [Line Items] | |||||
Provision/ (recapture) for loan losses | $ 6,391 | $ 8,966 | $ 14,200 | $ 17,214 | |
Loan Commitments | 6,013,698 | 6,144,177 | 6,013,698 | 6,144,177 | $ 6,385,147 |
Minimum Non Performing Substandard Loans Outstanding for Allowance for Credit Losses | 300 | 300 | |||
Minimum Non Performing Substandard Doubtful Loans Outstanding for Allowance for Credit Losses | 100 | 100 | |||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 400 | 100 | 600 | 200 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 1,400 | 900 | 2,600 | 1,800 | |
Acquired Loans | |||||
Allowance For Loan And Lease Losses [Line Items] | |||||
Provision/ (recapture) for loan losses | 400 | ||||
Financing Receivable, Allowance for Credit Losses, Recovery | (200) | ||||
Total impaired loans with no related allowance | |||||
Allowance For Loan And Lease Losses [Line Items] | |||||
Loan Commitments | $ 200 | $ 3,700 | $ 200 | $ 3,700 | $ 7,000 |
(Accumulated Amortization of In
(Accumulated Amortization of Intangible Assets Schedule) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 96,561 | $ 96,561 | $ 96,561 |
Finite-Lived Intangible Assets, Accumulated Amortization | (40,541) | (35,933) | (30,737) |
Finite-Lived Intangible Assets, Net | 56,020 | 60,628 | 65,824 |
Core Deposits | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 82,323 | 82,323 | 82,323 |
Finite-Lived Intangible Assets, Accumulated Amortization | (32,083) | (28,304) | (24,150) |
Finite-Lived Intangible Assets, Net | 50,240 | 54,019 | 58,173 |
Lease Agreements | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 238 | 238 | 238 |
Finite-Lived Intangible Assets, Accumulated Amortization | (229) | (212) | (194) |
Finite-Lived Intangible Assets, Net | 9 | 26 | 44 |
Customer Relationships | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 14,000 | 14,000 | 14,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | (8,229) | (7,417) | (6,393) |
Finite-Lived Intangible Assets, Net | $ 5,771 | $ 6,583 | $ 7,607 |
Goodwill and Other Intangible59
Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 741,740 | $ 741,740 | $ 741,740 | $ 741,740 | $ 741,740 |
Amortization of intangible assets | 2,304 | $ 2,598 | 4,608 | $ 5,196 | |
Remainder of 2016 | 4,600 | 4,600 | |||
2,017 | 8,200 | 8,200 | |||
2,018 | 7,300 | 7,300 | |||
2,019 | 6,500 | 6,500 | |||
2,020 | $ 5,200 | $ 5,200 | |||
Customer Relationships | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Useful Life | 12 years | ||||
Minimum | Core Deposits | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Useful Life | 10 years | ||||
Maximum | Core Deposits | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Useful Life | 15 years |
Shareholders' Equity (Reconcili
Shareholders' Equity (Reconciliation of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Schedule of Earnings Per Share, Basic and Diluted [Line Items] | ||||
Net income | $ 58,309 | $ 56,584 | $ 112,445 | $ 113,723 |
Preferred Stock dividends | 1,469 | 1,469 | 2,938 | 2,938 |
Less: Net income allocated to participating shareholders | 496 | 467 | 955 | 937 |
Net income attributable to common shareholders | $ 56,344 | $ 54,648 | $ 108,552 | $ 109,848 |
Weighted average number of common shares outstanding - basic | 166,188 | 165,736 | 165,966 | 165,574 |
Basic earnings per common share (in dollars per share) | $ 0.34 | $ 0.33 | $ 0.65 | $ 0.66 |
Net Income (Loss) Available to Common Stockholders, Diluted | $ 56,344 | $ 54,648 | $ 108,552 | $ 109,848 |
Weighted average number of common shares outstanding - diluted | 166,807 | 166,277 | 166,563 | 166,089 |
Diluted earnings per common share (in dollars per share) | $ 0.34 | $ 0.33 | $ 0.65 | $ 0.66 |
Employee Stock Option | ||||
Schedule of Earnings Per Share, Basic and Diluted [Line Items] | ||||
Weighted average number of common shares outstanding - diluted | 619 | 541 | 597 | 515 |
Shareholders' Equity (Narrative
Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | May 13, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 |
Shareholders Equity Narrative [Line Items] | ||||
Payments for Repurchase of Warrants | $ 12,200 | $ 0 | $ 12,150 | |
Adjustments to Additional Paid in Capital, Other | $ (9,200) | |||
5.875% Non-Cumulative Perpetual Preferred stock, Series A, authorized 115,000 shares | 7,000,000 | |||
Non-cumulative Perpetual Preferred Stock, Series A, Shares Authorized | 115,000 | 115,000 | 115,000 | |
Non-Cumulative Perpetual Preferred stock, Series A, Shares Outstanding | 100,000 | 100,000 | 100,000 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 200,000 | 800,000 | ||
Citizens Republic Bancorp | ||||
Shareholders Equity Narrative [Line Items] | ||||
Interest rate of Non-Cumulative Perpetual Preferred Stock, Series A | 5.875% | |||
Citizens Republic Bancorp | Citizens Republic Bancorp | ||||
Shareholders Equity Narrative [Line Items] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 17.50 | |||
FirstMerit | Citizens Republic Bancorp | ||||
Shareholders Equity Narrative [Line Items] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,571,998.380 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
OPERATIONS: | ||||
Net interest income | $ 186,078 | $ 185,118 | $ 371,234 | $ 370,741 |
Provision/ (recapture) for loan losses | 6,391 | 8,966 | 14,200 | 17,214 |
Noninterest Income | 65,115 | 66,582 | 132,509 | 132,429 |
Other expenses | 160,320 | 161,674 | 327,283 | 322,326 |
Net income | 58,309 | 56,584 | 112,445 | 113,723 |
AVERAGES : | ||||
Assets | 25,923,566 | 25,129,859 | 25,846,647 | 25,015,734 |
Loans | 16,242,902 | 15,577,361 | 16,161,173 | 15,502,686 |
Earning assets | 23,121,303 | 22,352,721 | 23,005,692 | 22,227,267 |
Deposits | 20,967,450 | 19,682,662 | 20,801,559 | 19,735,499 |
Economic capital | 3,012,218 | 2,892,432 | 2,991,190 | 2,879,469 |
Other | ||||
OPERATIONS: | ||||
Net interest income | (15,918) | (14,177) | (34,661) | (27,548) |
Provision/ (recapture) for loan losses | 218 | (1,765) | (1,636) | (355) |
Noninterest Income | 7,125 | 5,884 | 15,438 | 13,528 |
Other expenses | 4,356 | (618) | 8,251 | (3,610) |
Net income | (5,293) | 54 | (9,818) | 828 |
AVERAGES : | ||||
Assets | 9,638,361 | 9,449,572 | 9,639,033 | 9,374,463 |
Loans | 41,656 | 60,490 | 46,706 | 59,274 |
Earning assets | 6,555,458 | 6,535,441 | 6,523,236 | 6,483,544 |
Deposits | 1,410,044 | 610,711 | 1,111,129 | 573,990 |
Economic capital | 770,591 | 657,810 | 742,055 | 656,765 |
Commercial Loan | Operating Segments | ||||
OPERATIONS: | ||||
Net interest income | 101,313 | 101,342 | 203,932 | 202,830 |
Provision/ (recapture) for loan losses | 1,070 | 2,285 | 6,842 | 1,759 |
Noninterest Income | 20,782 | 21,918 | 41,961 | 44,408 |
Other expenses | 57,201 | 61,032 | 118,221 | 122,685 |
Net income | 41,486 | 38,963 | 78,539 | 79,816 |
AVERAGES : | ||||
Assets | 9,600,103 | 9,437,824 | 9,596,152 | 9,445,975 |
Loans | 9,721,866 | 9,533,843 | 9,715,827 | 9,520,262 |
Earning assets | 10,081,198 | 9,828,867 | 10,077,716 | 9,811,770 |
Deposits | 7,269,121 | 6,777,434 | 7,373,805 | 6,831,887 |
Economic capital | 1,251,845 | 1,355,049 | 1,252,069 | 1,349,289 |
Retail | Operating Segments | ||||
OPERATIONS: | ||||
Net interest income | 94,369 | 92,501 | 189,096 | 184,527 |
Provision/ (recapture) for loan losses | 5,123 | 8,447 | 9,169 | 15,981 |
Noninterest Income | 22,079 | 23,964 | 45,673 | 45,701 |
Other expenses | 84,880 | 87,799 | 173,575 | 176,070 |
Net income | 17,189 | 13,142 | 33,816 | 24,815 |
AVERAGES : | ||||
Assets | 6,370,350 | 5,951,665 | 6,301,303 | 5,898,835 |
Loans | 6,173,352 | 5,702,015 | 6,097,054 | 5,636,666 |
Earning assets | 6,178,619 | 5,707,400 | 6,103,154 | 5,645,469 |
Deposits | 11,003,769 | 11,105,954 | 11,014,512 | 11,115,005 |
Economic capital | 867,958 | 767,803 | 870,360 | 763,446 |
Wealth | Operating Segments | ||||
OPERATIONS: | ||||
Net interest income | 6,314 | 5,452 | 12,867 | 10,932 |
Provision/ (recapture) for loan losses | (20) | (1) | (175) | (171) |
Noninterest Income | 15,129 | 14,816 | 29,437 | 28,792 |
Other expenses | 13,883 | 13,461 | 27,236 | 27,181 |
Net income | 4,927 | 4,425 | 9,908 | 8,264 |
AVERAGES : | ||||
Assets | 314,752 | 290,798 | 310,159 | 296,461 |
Loans | 306,028 | 281,013 | 301,586 | 286,484 |
Earning assets | 306,028 | 281,013 | 301,586 | 286,484 |
Deposits | 1,284,516 | 1,188,563 | 1,302,113 | 1,214,617 |
Economic capital | $ 121,824 | $ 111,770 | $ 126,706 | $ 109,969 |
Derivatives and Hedging Activ63
Derivatives and Hedging Activities (Designated as Hedging Instruments, Notional Values, Contractual Amounts and Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Derivatives designated in hedge relationships | ||||
Derivative Asset, Fair Value | $ 117,842 | $ 58,107 | $ 48,073 | |
Derivative Liability, Fair Value | 90,622 | 52,745 | 51,497 | |
Commercial Loan Swaps (FRAPS) | Designated as Hedging Instrument | ||||
Derivatives designated in hedge relationships | ||||
Derivative Asset, Notional/Contract Amount | 0 | 0 | 0 | |
Derivative Asset, Fair Value | 0 | 0 | 0 | |
Derivative Liability, Notional/Contract Amount | 50,668 | 55,689 | 75,794 | |
Derivative Liability, Fair Value | 2,772 | 3,536 | 5,104 | |
Sub Debt Swap | Designated as Hedging Instrument | ||||
Derivatives designated in hedge relationships | ||||
Derivative Asset, Notional/Contract Amount | 250,000 | 250,000 | 250,000 | |
Derivative Asset, Fair Value | 29,760 | 8,739 | 1,153 | |
Derivative Liability, Notional/Contract Amount | 0 | 0 | 0 | |
Derivative Liability, Fair Value | 0 | 0 | 0 | |
Interest rate swaps | Designated as Hedging Instrument | ||||
Derivatives designated in hedge relationships | ||||
Derivative Asset, Notional/Contract Amount | 250,000 | 250,000 | 250,000 | $ 250,000 |
Derivative Asset, Fair Value | 29,760 | 8,739 | 1,153 | |
Derivative Liability, Notional/Contract Amount | 50,668 | 55,689 | 75,794 | |
Derivative Liability, Fair Value | 2,772 | 3,536 | 5,104 | |
Level 2 | ||||
Derivatives designated in hedge relationships | ||||
Derivative Asset, Fair Value | 117,842 | 58,107 | 48,073 | |
Derivative Liability, Fair Value | 90,622 | 52,745 | 51,497 | |
Level 2 | Interest rate swaps | Designated as Hedging Instrument | ||||
Derivatives designated in hedge relationships | ||||
Derivative Asset, Fair Value | 29,760 | 8,739 | 1,153 | |
Derivative Liability, Fair Value | $ 2,772 | $ 3,536 | $ 5,104 |
Derivatives and Hedging Activ64
Derivatives and Hedging Activities (Not Designated as Hedging Instruments, Notional Values, Contractual Amounts and Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Derivatives not designated in hedge relationships | |||
Derivative Asset, Fair Value | $ 117,842 | $ 58,107 | $ 48,073 |
Derivative Liability, Fair Value | 90,622 | 52,745 | 51,497 |
Not Designated as Hedging Instrument | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Notional/Contract Amount | 1,957,441 | 1,858,882 | 1,823,511 |
Derivative Asset, Fair Value | 88,082 | 49,368 | 46,920 |
Derivative Liability, Notional/Contract Amount | 2,041,068 | 1,956,287 | 1,847,653 |
Derivative Liability, Fair Value | 87,850 | 49,209 | 46,393 |
Not Designated as Hedging Instrument | Interest rate swaps | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Notional/Contract Amount | 1,904,459 | 1,824,576 | 1,726,600 |
Derivative Asset, Fair Value | 87,575 | 48,920 | 46,216 |
Derivative Liability, Notional/Contract Amount | 1,904,459 | 1,824,576 | 1,726,600 |
Derivative Liability, Fair Value | 87,575 | 48,920 | 46,216 |
Not Designated as Hedging Instrument | Mortgage loan commitments | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Notional/Contract Amount | 32,802 | 20,635 | 52,024 |
Derivative Asset, Fair Value | 253 | 149 | 342 |
Derivative Liability, Notional/Contract Amount | 0 | 0 | 0 |
Derivative Liability, Fair Value | 0 | 0 | 0 |
Not Designated as Hedging Instrument | Forward sales contracts | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Notional/Contract Amount | 0 | 0 | 15,200 |
Derivative Asset, Fair Value | 0 | 106 | |
Derivative Liability, Notional/Contract Amount | 8,059 | 9,659 | 0 |
Derivative Liability, Fair Value | 61 | 5 | 0 |
Not Designated as Hedging Instrument | Credit Risk Contract | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Notional/Contract Amount | 0 | 0 | 0 |
Derivative Asset, Fair Value | 0 | 0 | 0 |
Derivative Liability, Notional/Contract Amount | 74,945 | 73,715 | 73,512 |
Derivative Liability, Fair Value | 7 | 0 | 0 |
Not Designated as Hedging Instrument | Equity Swap | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Notional/Contract Amount | 0 | 0 | 0 |
Derivative Asset, Fair Value | 0 | 0 | 0 |
Derivative Liability, Notional/Contract Amount | 35,034 | 36,631 | 31,718 |
Derivative Liability, Fair Value | 0 | 0 | 0 |
Not Designated as Hedging Instrument | Foreign Exchange | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Notional/Contract Amount | 20,180 | 13,671 | 29,687 |
Derivative Asset, Fair Value | 254 | 299 | 256 |
Derivative Liability, Notional/Contract Amount | 18,571 | 11,706 | 15,823 |
Derivative Liability, Fair Value | 207 | 284 | 177 |
Level 2 | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Fair Value | 117,842 | 58,107 | 48,073 |
Derivative Liability, Fair Value | 90,622 | 52,745 | 51,497 |
Level 2 | Not Designated as Hedging Instrument | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Fair Value | 0 | ||
Level 2 | Not Designated as Hedging Instrument | Interest rate swaps | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Fair Value | 87,575 | 48,920 | 46,216 |
Derivative Liability, Fair Value | 87,575 | 48,920 | 46,216 |
Level 2 | Not Designated as Hedging Instrument | Mortgage loan commitments | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Fair Value | 253 | 149 | 342 |
Level 2 | Not Designated as Hedging Instrument | Forward sales contracts | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Fair Value | 106 | ||
Derivative Liability, Fair Value | 61 | 5 | |
Level 2 | Not Designated as Hedging Instrument | Credit Risk Contract | |||
Derivatives not designated in hedge relationships | |||
Derivative Liability, Fair Value | 7 | ||
Level 2 | Not Designated as Hedging Instrument | Foreign Exchange | |||
Derivatives not designated in hedge relationships | |||
Derivative Asset, Fair Value | 254 | 299 | 256 |
Derivative Liability, Fair Value | $ 207 | $ 284 | $ 177 |
Derivatives and Hedging Activ65
Derivatives and Hedging Activities (Gains and Losses Recognized) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | $ 798 | $ 294 | $ 1,634 | $ (1,400) |
Mortgage loan commitments | Loan Sales and Servicing Income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | 12 | (46) | 105 | (1,066) |
Forward sales contracts | Loan Sales and Servicing Income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | 20 | 175 | (56) | 378 |
Credit Risk Contract | Other income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | 766 | 165 | 1,585 | (712) |
Other Credit Derivatives | Other Expenses | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and losses recognized in income on derivatives | $ 0 | $ 0 | $ 0 | $ 0 |
Derivatives and Hedging Activ66
Derivatives and Hedging Activities (Offsetting Disclosure for Derivative Contracts) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Offsetting Disclosure for Derivative Contracts [Line Items] | |||
Offsetting disclosure, derivative asset, fair value, gross | $ 29,839 | $ 9,164 | $ 1,731 |
Offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
Offsetting disclosure, net amount, derivative asset, falir value | 29,839 | 9,164 | 1,731 |
Offseting disclosure, netting adjustment, derivative asset, fair value | (79) | (187) | (463) |
Offsetting disclosure, collateral value, derivative asset | 0 | (238) | (115) |
Offsetting disclosure, net amount total, derivative asset, fair value | 29,760 | 8,739 | 1,153 |
Offsetting disclosure, derivative liability, fair value, gross | 90,475 | 52,333 | 50,955 |
Offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
Offsetting disclosure, net amount, derivative liability, falir value | 90,475 | 52,333 | 50,955 |
Offseting disclosure, netting adjustment, derivative liability, fair value | (79) | (187) | (463) |
Offsetting disclosure, collateral value, derivative liability | (90,396) | (52,146) | (50,492) |
Offsetting disclosure, net amount total, derivative liability, fair value | 0 | 0 | 0 |
Designated as Hedging Instrument | Interest Rate Swap | |||
Offsetting Disclosure for Derivative Contracts [Line Items] | |||
Offsetting disclosure, derivative asset, fair value, gross | 29,760 | 8,739 | 1,153 |
Offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
Offsetting disclosure, net amount, derivative asset, falir value | 29,760 | 8,739 | 1,153 |
Offseting disclosure, netting adjustment, derivative asset, fair value | 0 | 0 | 0 |
Offsetting disclosure, collateral value, derivative asset | 0 | 0 | 0 |
Offsetting disclosure, net amount total, derivative asset, fair value | 29,760 | 8,739 | 1,153 |
Offsetting disclosure, derivative liability, fair value, gross | 2,772 | 3,536 | 5,104 |
Offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
Offsetting disclosure, net amount, derivative liability, falir value | 2,772 | 3,536 | 5,104 |
Offseting disclosure, netting adjustment, derivative liability, fair value | 0 | 0 | 0 |
Offsetting disclosure, collateral value, derivative liability | (2,772) | (3,536) | (5,104) |
Offsetting disclosure, net amount total, derivative liability, fair value | 0 | 0 | 0 |
Not Designated as Hedging Instrument | Interest Rate Swap | |||
Offsetting Disclosure for Derivative Contracts [Line Items] | |||
Offsetting disclosure, derivative asset, fair value, gross | 3 | 155 | 414 |
Offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
Offsetting disclosure, net amount, derivative asset, falir value | 3 | 155 | 414 |
Offseting disclosure, netting adjustment, derivative asset, fair value | (3) | (155) | (414) |
Offsetting disclosure, collateral value, derivative asset | 0 | 0 | 0 |
Offsetting disclosure, net amount total, derivative asset, fair value | 0 | 0 | 0 |
Offsetting disclosure, derivative liability, fair value, gross | 87,572 | 48,765 | 45,802 |
Offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
Offsetting disclosure, net amount, derivative liability, falir value | 87,572 | 48,765 | 45,802 |
Offseting disclosure, netting adjustment, derivative liability, fair value | (3) | (155) | (414) |
Offsetting disclosure, collateral value, derivative liability | (87,569) | (48,610) | (45,388) |
Offsetting disclosure, net amount total, derivative liability, fair value | 0 | 0 | 0 |
Not Designated as Hedging Instrument | Foreign Exchange Contract | |||
Offsetting Disclosure for Derivative Contracts [Line Items] | |||
Offsetting disclosure, derivative asset, fair value, gross | 76 | 270 | 164 |
Offsetting disclosure, offset amount, derivative asset, fair value, gross | 0 | 0 | 0 |
Offsetting disclosure, net amount, derivative asset, falir value | 76 | 270 | 164 |
Offseting disclosure, netting adjustment, derivative asset, fair value | (76) | (32) | (49) |
Offsetting disclosure, collateral value, derivative asset | 0 | (238) | (115) |
Offsetting disclosure, net amount total, derivative asset, fair value | 0 | 0 | 0 |
Offsetting disclosure, derivative liability, fair value, gross | 131 | 32 | 49 |
Offsetting disclosure, offset amount, derivative liability, fair value, gross | 0 | 0 | 0 |
Offsetting disclosure, net amount, derivative liability, falir value | 131 | 32 | 49 |
Offseting disclosure, netting adjustment, derivative liability, fair value | (76) | (32) | (49) |
Offsetting disclosure, collateral value, derivative liability | (55) | 0 | 0 |
Offsetting disclosure, net amount total, derivative liability, fair value | $ 0 | $ 0 | $ 0 |
Derivatives and Hedging Activ67
Derivatives and Hedging Activities (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | |||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | ||||
Term of written loan commitments, days | 60 | |||
Default assumptions percentage | 100.00% | |||
Credit derivative, maximum exposure, undiscounted | $ 7,100 | |||
Government Agency Issued Bonds or MBS | ||||
Derivative [Line Items] | ||||
Collateral posted against derivative liabilities | 55,900 | $ 47,200 | $ 45,600 | |
Designated as Hedging Instrument | Interest Rate Swap | ||||
Derivative [Line Items] | ||||
Derivative asset, notional amount | $ 250,000 | $ 250,000 | $ 250,000 | $ 250,000 |
Minimum | Equity Swap | ||||
Derivative [Line Items] | ||||
Maturity of credit risk derivatives | 2 years | |||
Minimum | Credit Risk Contract | ||||
Derivative [Line Items] | ||||
Maturity of credit risk derivatives | 1 year | |||
Maximum | Equity Swap | ||||
Derivative [Line Items] | ||||
Maturity of credit risk derivatives | 7 years | |||
Maximum | Credit Risk Contract | ||||
Derivative [Line Items] | ||||
Maturity of credit risk derivatives | 9 years |
Benefit Plans (Schedule of Net
Benefit Plans (Schedule of Net Benefit Costs Details) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Pension Plan, Defined Benefit | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 198 | $ 207 | $ 396 | $ 415 |
Interest cost | 3,649 | 3,517 | 7,298 | 7,035 |
Expected return on assets | (3,788) | (3,902) | (7,576) | (7,804) |
Amortization of unrecognized prior service costs | 75 | 570 | 150 | 1,140 |
Amortization of actuarial losses/(gains) | 830 | 1,057 | 1,660 | 2,113 |
Net periodic pension cost | 964 | 1,449 | 1,928 | 2,899 |
Other Postretirement Benefit Plans, Defined Benefit | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 26 | 41 | 52 | 83 |
Interest cost | 64 | 144 | 127 | 288 |
Amortization of unrecognized prior service costs | (636) | (160) | (1,271) | (319) |
Amortization of actuarial losses/(gains) | 245 | 81 | 490 | 163 |
Net periodic pension cost | $ (301) | $ 106 | $ (602) | $ 215 |
Fair Value Measurement (Recurri
Fair Value Measurement (Recurring and Nonrecurring Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2014 | |
Recurring Fair Value Measurements | ||||||||
Available-for-sale | $ 4,318,688 | $ 3,838,509 | $ 4,318,688 | $ 3,838,509 | $ 3,967,735 | |||
Residential loans held for sale | 3,962 | 5,432 | 3,962 | 5,432 | 5,472 | |||
Derivative Asset, Fair Value, Gross Asset | 117,842 | 48,073 | 117,842 | 48,073 | 58,107 | |||
Total Assets, Fair Value Disclosure, Recurring | 4,440,492 | 3,892,014 | 4,440,492 | 3,892,014 | 4,031,314 | |||
Derivative Liability, Fair Value, Gross Liability | 90,622 | 51,497 | 90,622 | 51,497 | 52,745 | |||
True Up Liability | 16,170 | 13,408 | 16,170 | 13,408 | 14,750 | |||
Total liabilities at fair value on a recurring basis | 106,792 | 64,905 | 106,792 | 64,905 | 67,495 | |||
Nonrecurring Fair Value Measurements [Abstract] | ||||||||
Fair Value of Mortgage Servicing Rights | 15,954 | 20,809 | 15,954 | 20,809 | 19,149 | |||
Impaired and Non Accrual Loans Fair Value Disclosure | 104,208 | 72,580 | 104,208 | 72,580 | 71,428 | |||
Other Real Estate, Non Covered | 10,027 | 33,078 | 10,027 | 33,078 | 18,576 | |||
Other Real Estate Covered by Loss Share | 4 | 4 | 4 | 4 | 365 | |||
Nonrecurring Fair Value | 130,193 | 126,471 | 130,193 | 126,471 | 109,518 | |||
Mortgage Servicing Rights | 17,310 | 20,635 | 17,310 | 20,635 | 18,938 | $ 18,127 | $ 21,490 | $ 22,011 |
Mortgage Servicing rights Valuation Allowance | (1,549) | (490) | (1,549) | (490) | (399) | $ (868) | $ (1,131) | $ (955) |
Mortgage Servicing Rights Net Carrying balance | 15,761 | 20,145 | 15,761 | 20,145 | 18,500 | |||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | (681) | 641 | (1,150) | 465 | 600 | |||
Impairment of Noncovered Other Real Estate Owned | 2,100 | 4,500 | ||||||
Impairment of Covered Other Real Esate Owned | 200 | 600 | ||||||
Impaired Collateral Dependant Loans, Recorded Investment | 116,100 | 82,700 | 116,100 | 82,700 | 84,300 | |||
Determination Of Specific Allowance For Loan Losses | (11,900) | (10,200) | (11,900) | (10,200) | (12,900) | |||
Collateral Dependant Impaired and Non Accrual Loans Carrying Amount | 104,200 | 72,600 | 104,200 | 72,600 | 71,400 | |||
Foreclosed Real Estate Expense | 700 | |||||||
Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,788 | 2,824 | 2,788 | 2,824 | 2,821 | |||
Residential loans held for sale | 0 | 0 | 0 | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Total Assets, Fair Value Disclosure, Recurring | 2,788 | 2,824 | 2,788 | 2,824 | 2,821 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
True Up Liability | 0 | 0 | 0 | 0 | 0 | |||
Total liabilities at fair value on a recurring basis | 0 | 0 | 0 | 0 | 0 | |||
Nonrecurring Fair Value Measurements [Abstract] | ||||||||
Fair Value of Mortgage Servicing Rights | 0 | 0 | 0 | 0 | 0 | |||
Impaired and Non Accrual Loans Fair Value Disclosure | 0 | 0 | 0 | 0 | 0 | |||
Other Real Estate, Non Covered | 0 | 0 | 0 | 0 | 0 | |||
Other Real Estate Covered by Loss Share | 0 | 0 | 0 | 0 | 0 | |||
Nonrecurring Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 3,972,996 | 3,524,149 | 3,972,996 | 3,524,149 | 3,623,270 | |||
Residential loans held for sale | 3,962 | 5,432 | 3,962 | 5,432 | 5,472 | |||
Derivative Asset, Fair Value, Gross Asset | 117,842 | 48,073 | 117,842 | 48,073 | 58,107 | |||
Total Assets, Fair Value Disclosure, Recurring | 4,094,800 | 3,577,654 | 4,094,800 | 3,577,654 | 3,686,849 | |||
Derivative Liability, Fair Value, Gross Liability | 90,622 | 51,497 | 90,622 | 51,497 | 52,745 | |||
True Up Liability | 0 | 0 | 0 | 0 | 0 | |||
Total liabilities at fair value on a recurring basis | 90,622 | 51,497 | 90,622 | 51,497 | 52,745 | |||
Nonrecurring Fair Value Measurements [Abstract] | ||||||||
Fair Value of Mortgage Servicing Rights | 0 | 0 | 0 | 0 | 0 | |||
Impaired and Non Accrual Loans Fair Value Disclosure | 0 | 0 | 0 | 0 | 0 | |||
Other Real Estate, Non Covered | 0 | 0 | 0 | 0 | 0 | |||
Other Real Estate Covered by Loss Share | 0 | 0 | 0 | 0 | 0 | |||
Nonrecurring Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 342,904 | 311,536 | 342,904 | 311,536 | 341,644 | |||
Residential loans held for sale | 0 | 0 | 0 | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Total Assets, Fair Value Disclosure, Recurring | 342,904 | 311,536 | 342,904 | 311,536 | 341,644 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
True Up Liability | 16,170 | 13,408 | 16,170 | 13,408 | 14,750 | |||
Total liabilities at fair value on a recurring basis | 16,170 | 13,408 | 16,170 | 13,408 | 14,750 | |||
Nonrecurring Fair Value Measurements [Abstract] | ||||||||
Fair Value of Mortgage Servicing Rights | 15,954 | 20,809 | 15,954 | 20,809 | 19,149 | |||
Impaired and Non Accrual Loans Fair Value Disclosure | 104,208 | 72,580 | 104,208 | 72,580 | 71,428 | |||
Other Real Estate, Non Covered | 10,027 | 33,078 | 10,027 | 33,078 | 18,576 | |||
Other Real Estate Covered by Loss Share | 4 | 4 | 4 | 4 | 365 | |||
Nonrecurring Fair Value | 130,193 | 126,471 | 130,193 | 126,471 | 109,518 | |||
US Treasury Securities | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 4,997 | 5,005 | 4,997 | 5,005 | 5,000 | |||
US Treasury Securities | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | ||||||
US Treasury Securities | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 4,997 | 4,997 | ||||||
US Treasury Securities | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | ||||||
Equity Securities | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,788 | 2,824 | 2,788 | 2,824 | 2,821 | |||
Equity Securities | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,824 | 2,824 | 2,821 | |||||
Equity Securities | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | |||||
Equity Securities | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | |||||
US Government Agency Debentures | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,510 | 2,510 | ||||||
US Government Agency Debentures | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | ||||||
US Government Agency Debentures | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,510 | 2,510 | ||||||
US Government Agency Debentures | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | ||||||
Non-marketable Equity Securities | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 5,005 | 5,005 | 5,000 | |||||
Non-marketable Equity Securities | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | |||||
Non-marketable Equity Securities | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 5,005 | 5,005 | 5,000 | |||||
Non-marketable Equity Securities | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | |||||
Marketable Equity Securities | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,788 | 2,824 | 2,788 | 2,824 | 2,821 | |||
Marketable Equity Securities | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,788 | 2,788 | ||||||
Marketable Equity Securities | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | ||||||
Marketable Equity Securities | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | ||||||
US Government Agencies Debt Securities | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,528 | 2,510 | 2,528 | 2,510 | 2,498 | |||
US Government Agencies Debt Securities | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | ||||||
US Government Agencies Debt Securities | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,528 | 2,528 | 2,498 | |||||
US Government Agencies Debt Securities | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | ||||||
U.S. States and political subdivisions debt securities | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 151,547 | 207,617 | 151,547 | 207,617 | 192,795 | |||
U.S. States and political subdivisions debt securities | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
U.S. States and political subdivisions debt securities | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 151,547 | 207,617 | 151,547 | 207,617 | 192,795 | |||
U.S. States and political subdivisions debt securities | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 860,247 | 960,852 | 860,247 | 960,852 | 906,229 | |||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 960,852 | 960,852 | 906,229 | |||||
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 202,048 | 170,338 | 202,048 | 170,338 | 172,109 | |||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 170,338 | 170,338 | 172,109 | |||||
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 2,353,018 | 1,949,389 | 2,353,018 | 1,949,389 | 2,128,320 | |||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 1,949,389 | 1,949,389 | 2,128,320 | |||||
Residential Collateralized Mortgage-Backed Securities Issued by US Government Sponsored Enterprises | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 3 | 5 | 3 | 5 | 4 | |||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Residential Collateralized Mortgage-Backed Securities Issued by Non-US Government Agency | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 3 | 5 | 3 | 5 | 4 | |||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 398,611 | 228,438 | 398,611 | 228,438 | 216,319 | |||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 228,438 | 228,438 | 216,319 | |||||
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Corporate debt securities | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 51,107 | 53,450 | 51,107 | 53,450 | 52,229 | |||
Corporate debt securities | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Corporate debt securities | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Corporate debt securities | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 53,450 | 53,450 | 52,229 | |||||
Collateralized Loan Obligations | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 291,794 | 258,081 | 291,794 | 258,081 | 289,411 | |||
Collateralized Loan Obligations | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Collateralized Loan Obligations | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 0 | 0 | 0 | 0 | 0 | |||
Collateralized Loan Obligations | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Available-for-sale | 291,794 | 258,081 | 291,794 | 258,081 | 289,411 | |||
Not Designated as Hedging Instrument | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 88,082 | 46,920 | 88,082 | 46,920 | 49,368 | |||
Derivative Liability, Fair Value, Gross Liability | 87,850 | 46,393 | 87,850 | 46,393 | 49,209 | |||
Not Designated as Hedging Instrument | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | ||||||
Interest Rate Swap | Designated as Hedging Instrument | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 29,760 | 1,153 | 29,760 | 1,153 | 8,739 | |||
Derivative Liability, Fair Value, Gross Liability | 2,772 | 5,104 | 2,772 | 5,104 | 3,536 | |||
Interest Rate Swap | Designated as Hedging Instrument | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
Interest Rate Swap | Designated as Hedging Instrument | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 29,760 | 1,153 | 29,760 | 1,153 | 8,739 | |||
Derivative Liability, Fair Value, Gross Liability | 2,772 | 5,104 | 2,772 | 5,104 | 3,536 | |||
Interest Rate Swap | Designated as Hedging Instrument | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
Interest Rate Swap | Not Designated as Hedging Instrument | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 87,575 | 46,216 | 87,575 | 46,216 | 48,920 | |||
Derivative Liability, Fair Value, Gross Liability | 87,575 | 46,216 | 87,575 | 46,216 | 48,920 | |||
Interest Rate Swap | Not Designated as Hedging Instrument | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
Interest Rate Swap | Not Designated as Hedging Instrument | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 87,575 | 46,216 | 87,575 | 46,216 | 48,920 | |||
Derivative Liability, Fair Value, Gross Liability | 87,575 | 46,216 | 87,575 | 46,216 | 48,920 | |||
Interest Rate Swap | Not Designated as Hedging Instrument | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
Mortgage Loan Commitments | Not Designated as Hedging Instrument | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 253 | 342 | 253 | 342 | 149 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
Mortgage Loan Commitments | Not Designated as Hedging Instrument | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Mortgage Loan Commitments | Not Designated as Hedging Instrument | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 253 | 342 | 253 | 342 | 149 | |||
Mortgage Loan Commitments | Not Designated as Hedging Instrument | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Forward sales contracts | Not Designated as Hedging Instrument | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 106 | 106 | 0 | |||||
Derivative Liability, Fair Value, Gross Liability | 61 | 0 | 61 | 0 | 5 | |||
Forward sales contracts | Not Designated as Hedging Instrument | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | ||||||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||||
Forward sales contracts | Not Designated as Hedging Instrument | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 106 | 106 | ||||||
Derivative Liability, Fair Value, Gross Liability | 61 | 61 | 5 | |||||
Forward sales contracts | Not Designated as Hedging Instrument | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | ||||||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | |||||
Credit Risk Contract | Not Designated as Hedging Instrument | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 7 | 0 | 7 | 0 | 0 | |||
Credit Risk Contract | Not Designated as Hedging Instrument | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | ||||||
Credit Risk Contract | Not Designated as Hedging Instrument | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Liability, Fair Value, Gross Liability | 7 | 7 | ||||||
Credit Risk Contract | Not Designated as Hedging Instrument | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | ||||||
Foreign Exchange | Not Designated as Hedging Instrument | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 254 | 256 | 254 | 256 | 299 | |||
Derivative Liability, Fair Value, Gross Liability | 207 | 177 | 207 | 177 | 284 | |||
Foreign Exchange | Not Designated as Hedging Instrument | Level 1 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
Foreign Exchange | Not Designated as Hedging Instrument | Level 2 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 254 | 256 | 254 | 256 | 299 | |||
Derivative Liability, Fair Value, Gross Liability | 207 | 177 | 207 | 177 | 284 | |||
Foreign Exchange | Not Designated as Hedging Instrument | Level 3 | ||||||||
Recurring Fair Value Measurements | ||||||||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Measurement (Changes
Fair Value Measurement (Changes in Level 3 Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||||
Available-for-sale securities, Beginning balance | $ 334,157 | $ 346,685 | $ 341,644 | $ 339,187 | |||
Available-for-sale securities, (Gains) losses included in earnings | [1] | 0 | 0 | 0 | 0 | ||
Available-for-sale securities, Unrealized gains (losses) | [2] | 8,926 | 4,561 | 1,370 | 11,697 | ||
Available-for-sale securities, Purchases | 0 | 41,509 | 0 | 41,509 | |||
Available-for-sale securities, Sales | 0 | (71,832) | 0 | (71,832) | |||
Available-for-sale securities, Settlements | (179) | (9,387) | (110) | (9,025) | |||
Available-for-sale securities, Ending balance | 342,904 | 311,536 | 342,904 | 311,536 | |||
True-up liability, Beginning balance | 15,115 | 13,707 | 14,750 | 13,294 | |||
True-up liability, (Gains) losses included in earnings | (1,055) | 299 | [1] | (1,420) | (114) | [1] | |
True-up liability, Unrealized gains (losses) | [2] | 0 | 0 | 0 | 0 | ||
True-up liability, Purchases | 0 | 0 | 0 | 0 | |||
True-up liability, Sales | 0 | 0 | 0 | 0 | |||
True-up liability, Settlements | 0 | 0 | 0 | 0 | |||
True-up liability, Ending balance | $ 16,170 | $ 13,408 | $ 16,170 | $ 13,408 | |||
[1] | Reported in "Other expense | ||||||
[2] | Reported in "Other comprehensive income (loss) |
Fair Value Measurement (Summary
Fair Value Measurement (Summary of Change in Fair Value Carrying Amount of Residential Mortgages ) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | |||
Loans held for sale | $ 3,962 | $ 5,472 | $ 5,432 |
Aggregate Fair Value | |||
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | |||
Loans held for sale | 5,472 | 5,432 | |
Contractual Balance | |||
Fair Value of Assets Loans Receivable Aggregate Unpaid Principal [Line Items] | |||
Loans held for sale | 3,836 | 5,320 | 5,285 |
Fair Value, Option, Loans Held as Assets, Aggregate Difference | $ 126 | $ 152 | $ 147 |
Fair Value Measurement (Fair Va
Fair Value Measurement (Fair Value Disclosure by Balance Sheet Grouping ) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2014 | |
Financial assets: | ||||||||
Cash and Cash Equivalents, at Carrying Value | $ 524,287 | $ 587,589 | $ 524,287 | $ 587,589 | $ 463,817 | $ 697,424 | ||
Cash and due from banks, Fair Value | 524,287 | 587,589 | 524,287 | 587,589 | 463,817 | |||
Available-for-sale Securities, Carrying Amount | 4,318,688 | 3,838,509 | 4,318,688 | 3,838,509 | 3,967,735 | |||
Held-to-maturity Securities, Carrying Amount | 2,514,161 | 2,787,513 | 2,514,161 | 2,787,513 | 2,674,093 | |||
Held-to-maturity Securities, Fair Value | 2,545,740 | 2,760,120 | 2,545,740 | 2,760,120 | 2,659,119 | |||
Other Investments, Carrying Amount | 148,367 | 147,967 | 148,367 | 147,967 | 148,172 | |||
Other Investments, Fair Value | 148,367 | 147,967 | 148,367 | 147,967 | 148,172 | |||
Loans held for sale | 3,962 | 5,432 | 3,962 | 5,432 | 5,472 | |||
Loans and Leases Receivable, Net Amount | 16,193,957 | 15,556,851 | 16,193,957 | 15,556,851 | 15,923,254 | |||
Net covered loans and loss share receivable, Fair Value | 149,121 | 211,887 | 149,121 | 211,887 | 170,690 | |||
Accrued interest receivable, Carrying Amount | 65,666 | 66,501 | 65,666 | 66,501 | 67,887 | |||
Accrued interest receivable, Fair Value | 65,666 | 66,501 | 65,666 | 66,501 | 67,887 | |||
Derivative Assets, Carrying Amount | 117,842 | 48,073 | 117,842 | 48,073 | 58,107 | |||
Derivative Asset, Fair Value, Gross Asset | 117,842 | 48,073 | 117,842 | 48,073 | 58,107 | |||
Financial liabilities: | ||||||||
Deposits, Carrying Amount | 20,952,643 | 19,673,850 | 20,952,643 | 19,673,850 | 20,108,003 | |||
Deposits, Fair Value | 20,960,182 | 19,681,270 | 20,960,182 | 19,681,270 | 20,116,298 | |||
Total Federal funds purchased and securities sold under agreements to repurchase, Carrying Amount | 686,890 | 1,519,250 | 686,890 | 1,519,250 | 1,037,075 | |||
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 686,890 | 1,519,250 | 686,890 | 1,519,250 | 1,037,075 | |||
Wholesale Borrowings, Carrying Amount | 468,447 | 366,074 | 468,447 | 366,074 | 580,648 | |||
Other Borrowings, Fair Value | 473,187 | 369,337 | 473,187 | 369,337 | 582,120 | |||
Long-term Debt | 526,389 | 497,393 | 526,389 | 497,393 | 505,173 | |||
Long-term Debt, Fair Value | 522,151 | 509,900 | 522,151 | 509,900 | 503,675 | |||
Accrued interest payable, Carrying Amount | 10,632 | 9,910 | 10,632 | 9,910 | 10,758 | |||
Accrued interest payable, Fair Value | 10,632 | 9,910 | 10,632 | 9,910 | 10,758 | |||
Derivative liabilities, Carrying Amount | 90,622 | 51,497 | 90,622 | 51,497 | 52,745 | |||
Derivative Liability, Fair Value, Gross Liability | 90,622 | 51,497 | 90,622 | 51,497 | 52,745 | |||
Mortgage Servicing rights Valuation Allowance | (1,549) | (490) | (1,549) | (490) | (399) | $ (868) | $ (1,131) | $ (955) |
Mortgage Servicing Rights Net Carrying balance | 15,761 | 20,145 | 15,761 | 20,145 | 18,500 | |||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 681 | (641) | 1,150 | (465) | (600) | |||
Impaired Collateral Dependant Loans, Recorded Investment | 116,100 | 82,700 | 116,100 | 82,700 | 84,300 | |||
Determination Of Specific Allowance For Loan Losses | 11,900 | 10,200 | 11,900 | 10,200 | 12,900 | |||
Fair Value, Inputs, Level 1 | ||||||||
Financial assets: | ||||||||
Cash and due from banks, Fair Value | 587,589 | 587,589 | 463,817 | |||||
Available-for-sale Securities, Carrying Amount | 2,788 | 2,824 | 2,788 | 2,824 | 2,821 | |||
Held-to-maturity Securities, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Other Investments, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Loans held for sale | 0 | 0 | 0 | 0 | 0 | |||
Net covered loans and loss share receivable, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Accrued interest receivable, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Financial liabilities: | ||||||||
Deposits, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Other Borrowings, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Long-term Debt, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Accrued interest payable, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 2 | ||||||||
Financial assets: | ||||||||
Cash and due from banks, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Available-for-sale Securities, Carrying Amount | 3,972,996 | 3,524,149 | 3,972,996 | 3,524,149 | 3,623,270 | |||
Held-to-maturity Securities, Fair Value | 2,760,120 | 2,760,120 | 2,659,119 | |||||
Other Investments, Fair Value | 147,967 | 147,967 | 148,172 | |||||
Loans held for sale | 3,962 | 5,432 | 3,962 | 5,432 | 5,472 | |||
Net covered loans and loss share receivable, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Accrued interest receivable, Fair Value | 65,666 | 66,501 | 65,666 | 66,501 | 67,887 | |||
Derivative Asset, Fair Value, Gross Asset | 117,842 | 48,073 | 117,842 | 48,073 | 58,107 | |||
Financial liabilities: | ||||||||
Deposits, Fair Value | 20,960,182 | 19,681,270 | 20,960,182 | 19,681,270 | 20,116,298 | |||
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 1,519,250 | 1,519,250 | 1,037,075 | |||||
Other Borrowings, Fair Value | 473,187 | 369,337 | 473,187 | 369,337 | 582,120 | |||
Long-term Debt, Fair Value | 522,151 | 509,900 | 522,151 | 509,900 | 503,675 | |||
Accrued interest payable, Fair Value | 10,632 | 9,910 | 10,632 | 9,910 | 10,758 | |||
Derivative Liability, Fair Value, Gross Liability | 90,622 | 51,497 | 90,622 | 51,497 | 52,745 | |||
Level 3 | ||||||||
Financial assets: | ||||||||
Cash and due from banks, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Available-for-sale Securities, Carrying Amount | 342,904 | 311,536 | 342,904 | 311,536 | 341,644 | |||
Held-to-maturity Securities, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Other Investments, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Loans held for sale | 0 | 0 | 0 | 0 | 0 | |||
Net covered loans and loss share receivable, Fair Value | 211,887 | 211,887 | ||||||
Accrued interest receivable, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | 0 | 0 | 0 | |||
Financial liabilities: | ||||||||
Deposits, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Other Borrowings, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Long-term Debt, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Accrued interest payable, Fair Value | 0 | 0 | 0 | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | 0 | 0 | 0 | |||
Originated Loans | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | 14,560,456 | 13,254,230 | 14,560,456 | 13,254,230 | 14,013,370 | |||
Originated Loans and Leases Receivable Fair Value | 14,349,013 | 13,077,485 | 14,349,013 | 13,077,485 | 13,795,058 | |||
Originated Loans | Fair Value, Inputs, Level 1 | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | 0 | 0 | 0 | 0 | 0 | |||
Originated Loans | Fair Value, Inputs, Level 2 | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | 0 | 0 | 0 | 0 | 0 | |||
Originated Loans | Level 3 | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | 14,349,013 | 13,077,485 | 14,349,013 | 13,077,485 | 13,795,058 | |||
Acquired Loans | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | 1,484,380 | 2,090,734 | 1,484,380 | 2,090,734 | 1,739,194 | |||
Originated Loans and Leases Receivable Fair Value | 1,532,344 | 2,167,304 | 1,532,344 | 2,167,304 | 1,796,314 | |||
Acquired Loans | Fair Value, Inputs, Level 1 | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | 0 | 0 | 0 | 0 | 0 | |||
Acquired Loans | Fair Value, Inputs, Level 2 | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | 0 | 0 | 0 | 0 | 0 | |||
Acquired Loans | Level 3 | ||||||||
Financial assets: | ||||||||
Loans and Leases Receivable, Net Amount | $ 1,532,344 | $ 2,167,304 | $ 1,532,344 | $ 2,167,304 | $ 1,796,314 |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Mortgage Servicing Rights | $ 17,310 | $ 20,635 | $ 17,310 | $ 20,635 | $ 18,938 | $ 18,127 | $ 21,490 | $ 22,011 |
Mortgage Servicing rights Valuation Allowance | (1,549) | (490) | (1,549) | (490) | (399) | $ (868) | $ (1,131) | $ (955) |
Mortgage Servicing Rights Net Carrying balance | 15,761 | 20,145 | 15,761 | 20,145 | 18,500 | |||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | (681) | 641 | (1,150) | 465 | 600 | |||
Impaired Collateral Dependant Loans, Recorded Investment | 116,100 | 82,700 | 116,100 | 82,700 | 84,300 | |||
Determination Of Specific Allowance For Loan Losses | (11,900) | (10,200) | (11,900) | (10,200) | (12,900) | |||
Collateral Dependant Impaired and Non Accrual Loans Carrying Amount | $ 104,200 | 72,600 | $ 104,200 | $ 72,600 | 71,400 | |||
Impairment of Real Estate | 2,100 | 4,500 | ||||||
Impairment of Covered Other Real Esate Owned | $ 200 | 600 | ||||||
Percent of available for sale securities classified as level 2 | 92.00% | 92.00% | ||||||
Percentage of Level 3 investments in available for sale investment portfolio | 8.00% | 8.00% | ||||||
True up liability, discount period | 10 years | |||||||
True-up Liabitlity Discount Rate | 3.08% | 3.58% | 3.08% | 3.58% | ||||
True-up Liability Effect of Change in Discount Rate By One Percent | $ 600 | $ (600) | $ 600 | $ (600) | ||||
Number of loans that were 90 days or more past due, or were any on nonaccrual status | 0 | |||||||
Midwest | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Estimated fair value of true up liability | $ 10,500 | 8,400 | $ 10,500 | 8,400 | 9,300 | |||
Percent of cumulative shared loss payments under loss sharing agreements | 25.00% | 25.00% | ||||||
Percent of FDIC Intrinsic Loss Estimate | 20.00% | 20.00% | ||||||
Intrinsic Loss Estimate of the FDIC | $ 152,000 | $ 152,000 | ||||||
Percent of Asset Premium Paid | 25.00% | 25.00% | ||||||
Asset Premium Paid | $ 21,000 | $ 21,000 | ||||||
George Washington | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Estimated fair value of true up liability | $ 5,700 | $ 5,000 | $ 5,700 | $ 5,000 | $ 5,500 | |||
Percent of excess threshold paid by the Bank under loss sharing agreements | 50.00% | 50.00% | ||||||
Percent Theshold of Loss Sharing Agreements Paid by Bank | 20.00% | 20.00% | ||||||
Stated Threshold of Loss Sharing Agreements Paid by Bank | $ 34,400 | $ 34,400 | ||||||
Percent of Asset Discount Under Loss Sharing Percent of Asset Discount Under Loss Sharing Agreements | 25.00% | 25.00% | ||||||
Stated amount of Asset Discount Under Loss Sharing Agreements | $ 12,000 | $ 12,000 | ||||||
Percent of cumulative shared loss payments under loss sharing agreements | 25.00% | 25.00% |
(Narrative) (Details)
(Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Servicing Assets at Fair Value [Line Items] | ||||
Residential mortgage loans sold from held or sale portfolio with unpaid balances | $ 15.6 | $ 59.7 | $ 15.6 | $ 59.7 |
Pre-tax gains on residential mortgages sold | 0.4 | 0.8 | ||
Retained MSR's for which company receives servicing fees on sold loans | $ 6.9 | 51.1 | $ 6.9 | 51.1 |
Minimum percentage adverse change in prepayment speed | 10.00% | |||
Maximum percentage adverse change in prepayment speed | 25.00% | |||
Percentage of variation in prepayment speed | 10.00% | 10.00% | ||
Residential Mortgages | ||||
Servicing Assets at Fair Value [Line Items] | ||||
Servicing Asset | $ 2,200 | 2,500 | $ 2,200 | $ 2,500 |
Loan servicing fees | $ 1.4 | $ 1.6 |
Mortgage Servicing Rights and75
Mortgage Servicing Rights and Mortgage Servicing Activity (Changes in the Carrying Amount of Mortgage Servicing Rights) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Mortage Servicing Rights Amortized Value [Roll Forward] | |||||
Mortgage Servicing Rights Beginning of Period | $ 18,127 | $ 21,490 | $ 18,938 | $ 22,011 | $ 22,011 |
Mortgage Servicing Rights Additions | 32 | 63 | 60 | 533 | |
Amortization of Mortgage Servicing Rights (MSRs) | (849) | (918) | (1,688) | (1,909) | |
Mortgage Servicing Rights, End of Period | 17,310 | 20,635 | 17,310 | 20,635 | 18,938 |
Mortage Servicing Rights Valuation Rollforward [Roll Forward] | |||||
Mortgage Servicing rights Valuation Allowance Beginning of Period | (868) | (1,131) | (399) | (955) | (955) |
Mortgage Servicing Rights (MSR) Impairment Recovery/(Additions) | (681) | 641 | (1,150) | 465 | 600 |
Mortgage Servicing rights Valuation Allowance, End of Period | (1,549) | (490) | (1,549) | (490) | (399) |
Mortgage Servicing Rights Net Carrying balance | 15,761 | 20,145 | 15,761 | 20,145 | 18,500 |
Fair Value of Mortgage Servicing Rights | 15,954 | 20,809 | 15,954 | 20,809 | 19,149 |
Level 3 | |||||
Mortage Servicing Rights Valuation Rollforward [Roll Forward] | |||||
Fair Value of Mortgage Servicing Rights | $ 15,954 | $ 20,809 | $ 15,954 | $ 20,809 | $ 19,149 |
Mortgage Servicing Rights and76
Mortgage Servicing Rights and Mortgage Servicing Activity (Changes in Key Economic Assumptions) (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2016USD ($) | |
Changes in Key Assumptions [Abstract] | |
Prepayment speed assumption (annual CPR) | 13.41% |
Decrease in fair value from 10% adverse change | $ 964 |
Decrease in fair value from 25% adverse change | $ 1,242 |
Discount rate assumption | 9.39% |
Decrease in fair value from 100 basis point adverse change | $ 463 |
Decrease in fair value from 200 basis point adverse change | $ 898 |
Assumptions Used to Estimate Fair Value, Weighted Average Life | 85 months |
Contingencies and Guarantees (S
Contingencies and Guarantees (Schedule of Commitments to Extend Credit) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | $ 6,013,698 | $ 6,385,147 | $ 6,144,177 |
Commercial Loan | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | 3,505,383 | 3,992,089 | 3,746,824 |
Total consumer | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | $ 2,508,315 | $ 2,393,058 | $ 2,397,353 |
Contingencies and Guarantees 78
Contingencies and Guarantees (Schedule of Guarantor Obligations) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Current Carrying Value | $ 232,456 | $ 267,605 | $ 284,309 |
Standby Letters of Credit | |||
Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Current Carrying Value | 220,913 | 254,703 | 255,418 |
Loans Sold with Recourse | |||
Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Current Carrying Value | $ 11,543 | $ 12,902 | $ 28,891 |
Contingencies and Guarantees 79
Contingencies and Guarantees (Schedule of Changes in Repurchase Reserve) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | $ 2,625 | $ 6,650 | $ 2,725 | $ 7,250 |
Net increase/(decrease) to reserve | 0 | 363 | (53) | (39) |
Net realized (losses)/gains | 0 | (363) | (47) | (561) |
Balance at end of period | 2,625 | 6,650 | 2,625 | 6,650 |
Residential Mortgages | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 2,700 | |||
Balance at end of period | $ 2,600 | $ 6,700 | $ 2,600 | $ 6,700 |
Contingencies and Guarantees (N
Contingencies and Guarantees (Narratives) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Asset sales [Line Items] | ||||||
Guarantor Obligations, Short-Term | $ 106,800 | |||||
Financing Receivable, Repurchase Reserve | 2,625 | $ 2,625 | $ 2,725 | $ 6,650 | $ 6,650 | $ 7,250 |
Allowance for Loan and Lease Losses, Unfunded Lending Commitments | 4,100 | 4,100 | 3,900 | |||
Residential Mortgages | ||||||
Asset sales [Line Items] | ||||||
Financing Receivable, Loans Sold to Third Party Investors | 9,100 | 10,100 | 22,200 | |||
Financing Receivable, Repurchase Reserve | $ 2,600 | $ 2,700 | $ 6,700 |
Changes and Reclassifications81
Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||||
Balance at the beginning of the period, After-tax | $ (79,274) | $ (79,274) | ||||||
Changes in unrealized securities' holding gains/(losses), before Tax | $ 31,489 | $ (28,642) | 79,868 | $ 5,475 | ||||
Changes in unrealized securities' holding gains/(losses), Tax | 11,431 | (10,024) | 28,994 | 1,916 | ||||
Changes in unrealized securities' holding gains/(losses), After-tax | 20,058 | (18,618) | 50,874 | 3,559 | ||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred into available-for-sale from held-to-maturity, Pre-tax | (221) | (575) | (1,072) | (1,079) | ||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity, Tax | (79) | (203) | (14) | (378) | ||||
Changes in unrealized securities' holding gains/(losses) that result from securities being transferred from available-for-sale to held-to-maturity , Net of Tax | (142) | (372) | (1,058) | (701) | ||||
Realized (gains) losses on sale of securities | (2,164) | (567) | (2,459) | (921) | ||||
Net losses/(gains) realized on sale of securities reclassified to noninterest income, Tax | (786) | (198) | (892) | (322) | ||||
Reclassified amount, net of tax | (1,378) | (369) | (1,567) | (599) | ||||
Balance at the beginning and end of the period, Pre-tax | (93,336) | (93,852) | (98,972) | $ (100,520) | (93,336) | (98,972) | $ (95,760) | $ (102,068) |
Accumulated other comprehensive income reclassifications, benefit plan, tax | (32,560) | (32,746) | (34,638) | (35,181) | (32,560) | (34,638) | (33,432) | (35,722) |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | (60,776) | (61,106) | (64,334) | (65,339) | (60,776) | (64,334) | (62,328) | (66,346) |
Net gains/(losses) arising during the period, Pre-Tax | 0 | 0 | ||||||
Net gains/(losses) arising during the period, Tax | 0 | 0 | ||||||
Net gains/(losses) arising during the period, After-tax | 0 | 0 | ||||||
Amortization of actuarial gain, Pre-Tax | 1,076 | 1,138 | 3,244 | 2,276 | ||||
Amortization of actuarial gain, Tax | 390 | 399 | 1,163 | 797 | ||||
Amortization of actuarial losses/(gains), Net of Tax | 686 | 739 | 2,081 | 1,479 | ||||
Amortization of prior service cost reclassified to other noninterest expense, before Tax | (560) | 410 | (820) | 820 | ||||
Amortization of prior service cost reclassified to other noninterest expense, Tax | (204) | 144 | (291) | 287 | ||||
Amortization of prior service cost reclassified to other noninterest expense, After-tax | (356) | 266 | (529) | 533 | ||||
Balance at the end of the Period, Pre-tax | (49,785) | (104,028) | (49,785) | (104,028) | ||||
Balance at the end of the period, Tax | (20,312) | (36,407) | (20,312) | (36,407) | ||||
Balance at the end of the period, After-tax | (29,473) | (67,621) | (29,473) | (67,621) | (79,274) | |||
Unrealized and realized securities gains and losses | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||||
Balance at the beginning of the Period, Pre-tax | 14,447 | (32,786) | 24,728 | (8,531) | (32,786) | (8,531) | (8,531) | |
Balance at the beginning of the period, Tax | 1,682 | (15,840) | 8,656 | (2,985) | (15,840) | (2,985) | (2,985) | |
Balance at the beginning of the period, After-tax | 12,765 | (16,946) | 16,072 | (5,546) | (16,946) | (5,546) | (5,546) | |
Balance at the end of the Period, Pre-tax | 43,551 | 14,447 | (5,056) | 24,728 | 43,551 | (5,056) | (32,786) | (8,531) |
Balance at the end of the period, Tax | 12,248 | 1,682 | (1,769) | 8,656 | 12,248 | (1,769) | (15,840) | (2,985) |
Balance at the end of the period, After-tax | $ 31,303 | $ 12,765 | $ (3,287) | $ 16,072 | $ 31,303 | $ (3,287) | $ (16,946) | $ (5,546) |
Changes and Reclassifications82
Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Tax Effect of Changes and Reclassifications Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Changes and Reclassifications Out of Other Comprehensive Income [Abstract] | ||||
Realized (gains) losses on sale of securities | $ (2,164) | $ (567) | $ (2,459) | $ (921) |
Tax expense (benefit) | (786) | (198) | (892) | (322) |
Reclassified amount, net of tax | $ (1,378) | $ (369) | $ (1,567) | $ (599) |
Subsequent Events Subsequent Ev
Subsequent Events Subsequent Events (Details) - Subsequent Event $ in Millions | Jul. 08, 2016USD ($)Branch | Jul. 13, 2016Branch |
Wisconsin | ||
Subsequent Event [Line Items] | ||
Number of branches sold | 4 | |
Gain on disposal | $ | $ 1.2 | |
Ohio | ||
Subsequent Event [Line Items] | ||
Number of branches sold | 13 |