Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 31, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | FNB | ||
Entity Registrant Name | FNB CORP/PA/ | ||
Entity Central Index Key | 37,808 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 323,523,445 | ||
Entity Public Float | $ 4,464,901,676 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Assets | |||
Cash and due from banks | $ 408,718 | $ 303,526 | |
Interest-bearing deposits with banks | 70,725 | 67,881 | |
Cash and Cash Equivalents | 479,443 | 371,407 | |
Securities available for sale | 2,764,562 | 2,231,987 | |
Securities held to maturity (fair value of $3,218,379 and $2,294,777) | 3,242,268 | 2,337,342 | |
Loans held for sale (includes $56,458 and $0 measured at fair value) | [1] | 92,891 | 11,908 |
Loans and leases, net of unearned income of $50,680 and $52,723 | 20,998,766 | 14,896,943 | |
Allowance for credit losses | (175,380) | (158,059) | |
Net Loans and Leases | 20,823,386 | 14,738,884 | |
Premises and equipment, net | 336,540 | 243,956 | |
Goodwill | 2,249,188 | 1,032,129 | |
Core deposit and other intangible assets, net | 92,075 | 53,806 | |
Bank owned life insurance | 526,818 | 330,152 | |
Other assets | 810,464 | 493,246 | |
Total Assets | 31,417,635 | 21,844,817 | |
Liabilities | |||
Non-interest-bearing demand | 5,720,030 | 4,205,337 | |
Interest-bearing demand | 9,571,038 | 6,931,381 | |
Savings | 2,488,178 | 2,352,434 | |
Certificates and other time deposits | 4,620,479 | 2,576,495 | |
Total Deposits | 22,399,725 | 16,065,647 | |
Short-term borrowings | 3,678,337 | 2,503,010 | |
Long-term borrowings | 668,173 | 539,494 | |
Other liabilities | 262,206 | 165,049 | |
Total Liabilities | 27,008,441 | 19,273,200 | |
Stockholders’ Equity | |||
Preferred stock - $0.01 par value; liquidation preference of $1,000 per share Authorized – 20,000,000 shares Issued – 110,877 shares | 106,882 | 106,882 | |
Common stock - $0.01 par value Authorized – 500,000,000 shares Issued – 325,095,055 and 212,378,494 shares | 3,253 | 2,125 | |
Additional paid-in capital | 4,033,567 | 2,234,366 | |
Retained earnings | 367,658 | 304,397 | |
Accumulated other comprehensive loss | (83,052) | (61,369) | |
Treasury stock – 1,629,915 and 1,318,947 shares at cost | (19,114) | (14,784) | |
Total Stockholders’ Equity | 4,409,194 | 2,571,617 | |
Total Liabilities and Stockholders’ Equity | $ 31,417,635 | $ 21,844,817 | |
[1] | Amount represents loans for which we have elected the fair value option. See Note 24. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Fair Value | $ 3,218,379 | $ 2,294,777 |
Loans held for sale | 56,458 | 0 |
Unearned income on loans | $ 50,680 | $ 52,723 |
Preferred stock, par value (USD per Share) | $ 0.01 | $ 0.01 |
Preferred stock, liquidation preference per share (USD per Share) | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred stock, shares issued (in shares) | 110,877 | 110,877 |
Common stock, par value (USD per Share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 325,095,055 | 212,378,494 |
Treasury stock, shares (in shares) | 1,629,915 | 1,318,947 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest Income | |||
Loans and leases, including fees | $ 861,867 | $ 597,621 | $ 482,086 |
Securities: | |||
Taxable | 97,728 | 71,853 | 58,148 |
Tax-exempt | 19,741 | 9,011 | 6,405 |
Dividends | 88 | 34 | 39 |
Other | 902 | 444 | 117 |
Total Interest Income | 980,326 | 678,963 | 546,795 |
Interest Expense | |||
Deposits | 71,582 | 41,239 | 31,207 |
Short-term borrowings | 43,969 | 12,183 | 7,075 |
Long-term borrowings | 18,341 | 14,029 | 10,291 |
Total Interest Expense | 133,892 | 67,451 | 48,573 |
Net Interest Income | 846,434 | 611,512 | 498,222 |
Provision for credit losses | 61,073 | 55,752 | 40,441 |
Net Interest Income After Provision for Credit Losses | 785,361 | 555,760 | 457,781 |
Non-Interest Income | |||
Service charges | 124,310 | 97,524 | 69,877 |
Trust services | 23,121 | 21,173 | 20,934 |
Insurance commissions and fees | 19,063 | 18,328 | 16,270 |
Securities commissions and fees | 15,286 | 13,468 | 13,642 |
Capital markets income | 16,603 | 15,471 | 10,246 |
Mortgage banking operations | 19,977 | 12,106 | 8,619 |
Bank owned life insurance | 11,693 | 10,249 | 8,135 |
Net securities gains | 5,916 | 712 | 822 |
Other | 16,480 | 12,730 | 13,865 |
Total Non-Interest Income | 252,449 | 201,761 | 162,410 |
Non-Interest Expense | |||
Salaries and employee benefits | 326,893 | 239,798 | 202,068 |
Net occupancy | 53,787 | 40,086 | 33,670 |
Equipment | 49,361 | 38,046 | 31,869 |
Amortization of intangibles | 17,517 | 11,210 | 8,305 |
Outside services | 56,113 | 43,737 | 34,698 |
FDIC insurance | 32,902 | 19,203 | 12,888 |
Supplies | 8,326 | 10,834 | 8,064 |
Bank shares and franchise taxes | 10,256 | 8,940 | 8,139 |
Telephone | 10,218 | 7,159 | 6,234 |
Marketing | 11,505 | 10,141 | 8,396 |
Other real estate owned | 4,438 | 5,153 | 4,637 |
Merger-related | 56,513 | 37,439 | 3,033 |
Other | 43,712 | 39,387 | 28,548 |
Total Non-Interest Expense | 681,541 | 511,133 | 390,549 |
Income Before Income Taxes | 356,269 | 246,388 | 229,642 |
Income taxes | 157,065 | 75,497 | 69,993 |
Net Income | 199,204 | 170,891 | 159,649 |
Preferred stock dividends | 8,041 | 8,041 | 8,041 |
Net Income Available to Common Stockholders | $ 191,163 | $ 162,850 | $ 151,608 |
Earnings per Common Share | |||
Basic (in usd per share) | $ 0.63 | $ 0.79 | $ 0.87 |
Diluted (in usd per share) | 0.63 | 0.78 | 0.86 |
Cash Dividends per Common Share (in usd per share) | $ 0.48 | $ 0.48 | $ 0.48 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 199,204 | $ 170,891 | $ 159,649 |
Securities available for sale: | |||
Unrealized gains arising during the period, net of tax benefit of $3,224, $7,477 and $1,561 | (5,744) | (13,886) | (2,899) |
Reclassification adjustment for gains included in net income, net of tax expense of $230, $249 and $288 | (411) | (463) | (534) |
Derivative instruments: | |||
Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(426), $2,739 and $1,887 | (759) | 5,086 | 3,504 |
Reclassification adjustment for gains included in net income, net of tax expense of $26, $685 and $1,035 | (46) | (1,272) | (1,921) |
Pension and postretirement benefit obligations: | |||
Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(1), $161 and $(1,766) | (7) | 299 | (3,280) |
Other comprehensive income (loss) | (6,967) | (10,236) | (5,130) |
Comprehensive income | $ 192,237 | $ 160,655 | $ 154,519 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Unrealized gains arising during the period, net of tax benefit | $ 3,224 | $ 7,477 | $ 1,561 |
Reclassification adjustment for gains included in net income, net of tax expense | 230 | 249 | 288 |
Unrealized (losses) gains arising during the period, net of tax (benefit) expense | (426) | 2,739 | 1,887 |
Reclassification adjustment for gains included in net income, net of tax expense | 26 | 685 | 1,035 |
Unrealized (losses) gains arising during the period, net of tax (benefit) expense | $ (1) | $ 161 | $ (1,766) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock | Common Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |
Balance at beginning of period at Dec. 31, 2014 | $ 2,021,456 | $ 106,882 | $ 1,754 | $ 1,798,984 | $ 176,120 | $ (46,003) | $ (16,281) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Comprehensive income | 154,519 | 159,649 | (5,130) | ||||
Dividends declared: | |||||||
Preferred stock | (8,041) | (8,041) | |||||
Common stock: $0.48/share | (84,511) | (84,511) | |||||
Issuance of common stock | 8,270 | 12 | 4,737 | 3,521 | |||
Restricted stock compensation | 4,461 | 4,461 | |||||
Tax benefit of stock-based compensation | 28 | 28 | |||||
Balance at end of period at Dec. 31, 2015 | 2,096,182 | 106,882 | 1,766 | 1,808,210 | 243,217 | (51,133) | (12,760) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Comprehensive income | 160,655 | 170,891 | (10,236) | ||||
Dividends declared: | |||||||
Preferred stock | (8,041) | (8,041) | |||||
Common stock: $0.48/share | (101,670) | (101,670) | |||||
Issuance of common stock | 11,406 | 19 | 13,411 | (2,024) | |||
Issuance of common stock – acquisitions | 404,206 | 340 | 403,866 | ||||
Restricted stock compensation | 7,066 | 7,066 | |||||
Tax benefit of stock-based compensation | 1,813 | 1,813 | |||||
Balance at end of period at Dec. 31, 2016 | 2,571,617 | 106,882 | 2,125 | 2,234,366 | 304,397 | (61,369) | (14,784) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Comprehensive income | 192,237 | 199,204 | (6,967) | ||||
Dividends declared: | |||||||
Preferred stock | (8,041) | (8,041) | |||||
Common stock: $0.48/share | (142,618) | (142,618) | |||||
Issuance of common stock | 2,980 | 12 | 7,298 | (4,330) | |||
Issuance of common stock – acquisitions | 1,783,424 | 1,116 | 1,782,308 | ||||
Assumption of warrant due to acquisition | 1,394 | 1,394 | |||||
Restricted stock compensation | 8,201 | 8,201 | |||||
Reclassification due to tax reform | 14,716 | (14,716) | |||||
Balance at end of period at Dec. 31, 2017 | $ 4,409,194 | $ 106,882 | $ 3,253 | $ 4,033,567 | $ 367,658 | $ (83,052) | $ (19,114) |
Consolidated Statements of Sto8
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Stockholders' Equity [Abstract] | |||||||||||
Common stock dividends per share (in usd per share) | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.48 | $ 0.48 | $ 0.48 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Activities | |||
Net income | $ 199,204 | $ 170,891 | $ 159,649 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | |||
Depreciation, amortization and accretion | 88,797 | 60,503 | 43,949 |
Provision for credit losses | 61,073 | 55,752 | 40,441 |
Deferred tax expense | 128,983 | 15,250 | 550 |
Net securities gains | (5,916) | (712) | (822) |
Tax benefit of stock-based compensation | (822) | (1,813) | (28) |
Loans originated for sale | (1,097,869) | (713,087) | (445,558) |
Loans sold | 1,046,762 | 716,705 | 455,623 |
Net gain on sale of loans | (17,223) | (10,746) | (8,666) |
Net change in: | |||
Interest receivable | (18,143) | (5,214) | (4,688) |
Interest payable | 1,978 | (150) | 760 |
Bank owned life insurance | (11,200) | (5,373) | (6,397) |
Other, net | (96,718) | 10,702 | (11,333) |
Net cash flows provided by operating activities | 278,906 | 292,708 | 223,480 |
Investing Activities | |||
Net change in loans and leases | (1,100,481) | (816,093) | (985,999) |
Securities available for sale: | |||
Purchases | (1,141,620) | (1,066,361) | (421,901) |
Sales | 786,762 | 615,199 | 33,499 |
Maturities | 569,949 | 543,923 | 284,483 |
Securities held to maturity: | |||
Purchases | (1,185,859) | (1,063,273) | (465,597) |
Sales | 57,050 | 0 | 0 |
Maturities | 394,823 | 357,111 | 277,967 |
Purchase of bank owned life insurance | (50,124) | (16,587) | (72,688) |
Withdrawal/surrender of bank owned life insurance | 0 | 0 | 72,664 |
Increase in premises and equipment | (56,874) | (59,327) | (9,723) |
Net cash received in business combinations | 196,964 | 245,762 | 144,629 |
Net cash flows used in investing activities | (1,529,410) | (1,259,646) | (1,142,666) |
Financing Activities | |||
Demand (non-interest-bearing and interest-bearing) and savings accounts | 405,777 | 933,793 | 1,259,765 |
Time deposits | 757,021 | (119,734) | (166,283) |
Short-term borrowings | 379,139 | 251,713 | 7,238 |
Proceeds from issuance of long-term borrowings | 155,399 | 46,357 | 134,953 |
Repayment of long-term borrowings | (199,318) | (173,477) | (34,968) |
Net proceeds from issuance of common stock | 11,181 | 18,472 | 12,731 |
Tax benefit of stock-based compensation | 0 | 1,813 | 28 |
Cash dividends paid: | |||
Preferred stock | (8,041) | (8,041) | (8,041) |
Common stock | (142,618) | (101,670) | (84,511) |
Net cash flows provided by financing activities | 1,358,540 | 849,226 | 1,120,912 |
Net Increase (Decrease) in Cash and Cash Equivalents | 108,036 | (117,712) | 201,726 |
Cash and cash equivalents at beginning of year | 371,407 | 489,119 | 287,393 |
Cash and Cash Equivalents at End of Year | $ 479,443 | $ 371,407 | $ 489,119 |
Nature of Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations | NATURE OF OPERATIONS F.N.B. Corporation (FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in eight states. We hold a significant retail deposit market share in metropolitan markets including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina. As of December 31, 2017 , we had 417 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and South Carolina. We provide a full range of commercial banking, consumer banking, and wealth management solutions through our subsidiary network which is led by our largest affiliate, First National Bank of Pennsylvania (FNBPA). Commercial banking solutions include corporate banking, small business banking, investment real estate financing, business credit, capital markets and lease financing. Consumer banking provides a full line of consumer banking products and services including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. Wealth management services include fiduciary and brokerage services, asset management, private banking and insurance. We also operate Regency Finance Company (Regency), which had 77 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee as of December 31, 2017 . The terms “FNB,” “the Corporation,” “we,” “us” and “our” throughout this Report mean F.N.B. Corporation and its subsidiaries, when appropriate. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Our accompanying consolidated financial statements and these notes to the financial statements include subsidiaries in which we have a controlling financial interest. We own and operate FNBPA, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC (FNIA), Regency, Bank Capital Services, LLC, and F.N.B. Capital Corporation, LLC, and include results for each of these entities in the accompanying consolidated financial statements. The accompanying consolidated financial statements include all adjustments that are necessary, in the opinion of management, to fairly reflect our financial position and results of operations in accordance with U.S. generally accepted accounting principles (GAAP). All significant intercompany balances and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to the current period presentation. Such reclassifications had no impact on our net income and stockholders’ equity. Events occurring subsequent to the date of the December 31, 2017 balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). Use of Estimates Our accounting and reporting policies conform with GAAP. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Material estimates that are particularly susceptible to significant changes include the allowance for credit losses, accounting for acquired loans, fair value of financial instruments, goodwill and other intangible assets, litigation and income taxes and deferred tax assets. Business Combinations Business combinations are accounted for by applying the acquisition method . Under the acquisition method, identifiable assets acquired and liabilities assumed, and any non-controlling interest in the acquiree at the acquisition date are measured at their fair values as of that date, and are recognized separately from goodwill. Results of operations of the acquired entities are included in the consolidated statements of income from the date of acquisition. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in transit and amounts due from the Federal Reserve Bank (FRB) and other depository institutions (including interest-bearing deposits). Securities Investment securities, which consist of debt securities and certain equity securities, comprise a significant portion of our consolidated balance sheets. Such securities can be classified as trading, held to maturity or available for sale. As of December 31, 2017 and 2016 , we did not hold any trading securities. Securities held to maturity are comprised of debt securities, for which management has the positive intent and ability to hold until their maturity. Such securities are carried at cost, adjusted for related amortization of premiums and accretion of discounts through interest income from securities, and subject to evaluation for other-than-temporary impairment (OTTI). Securities that are not classified as trading or held to maturity are classified as available for sale. Our available for sale securities portfolio is comprised of debt securities and marketable equity securities. Such securities are carried at fair value with net unrealized gains and losses deemed to be temporary and OTTI attributable to non-credit factors reported separately as a component of other comprehensive income, net of tax. We evaluate our securities in a loss position for OTTI on a quarterly basis at the individual security level based on our intent to sell. If we intend to sell the debt security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, OTTI must be recognized in earnings equal to the entire difference between the investments’ amortized cost basis and its fair value. If we do not intend to sell the debt security and it is not more likely than not that we will be required to sell the security before recovery of its amortized cost basis, OTTI must be separated into the amount representing credit loss and the amount related to all other market factors. The amount related to credit loss will be recognized in earnings. The amount related to other market factors will be recognized in other comprehensive income, net of applicable taxes. We perform our OTTI evaluation process in a consistent and systematic manner and include an evaluation of all available evidence. This process considers factors such as length of time and anticipated recovery period of the impairment, recent events specific to the issuer and recent experience regarding principal and interest payments. Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements cannot be sold or repledged by the secured party. The fair value of collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or is requested to be returned to us as deemed appropriate. Derivative Instruments and Hedging Activities From time to time, we may enter into derivative transactions principally to protect against the risk of adverse price or interest rate movements on the value of certain assets and liabilities and on future cash flows. All derivative instruments are carried at fair value on the balance sheet as either an asset or liability. Accounting for the changes in fair value of a derivative is dependent upon whether or not it has been designated in a formal, qualifying hedging relationship. For derivatives in qualifying hedging relationships, we formally document all relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking each hedge transaction. Changes in fair value of a derivative instrument that has been designated and qualifies as a cash flow hedge are recorded in accumulated other comprehensive income (AOCI), net of tax. Amounts are reclassified from AOCI to the consolidated statements of income in the period or periods in which the hedged transaction affects earnings. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instruments have been highly effective in offsetting changes in fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been or will not continue to be highly effective as a hedge, hedge accounting is discontinued. Derivative gains and losses under cash flow hedges not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the consolidated statements of income. In addition, we enter into interest rate swap agreements to meet the financing, interest rate and equity risk management needs of qualifying commercial loan customers. These agreements provide the customer the ability to convert from variable to fixed interest rates. We then enter into positions with a derivative counterparty in order to offset our exposure on the fixed components of the customer agreements. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. We seek to minimize counterparty credit risk by entering into transactions with only high-quality institutions. These arrangements meet the definition of derivatives, but are not designated as qualifying hedging relationships. The interest rate swap agreement with the loan customer and with the counterparty are reported at fair value in other assets and other liabilities on the consolidated balance sheets with any resulting gain or loss recorded in current period earnings as other income. Loans Held for Sale and Loan Commitments Certain of our residential mortgage loans are originated or purchased for sale in the secondary mortgage loan market. Effective January 1, 2017, we made an automatic election to account for all future originated or purchased residential mortgage loans held for sale under the fair value option (FVO). The FVO election is intended to better reflect the underlying economics and better facilitate the economic hedging of the loans. The FVO is applied on an instrument by instrument basis and is an irrevocable election. Additionally, with the election of the FVO, fees and costs associated with the origination and acquisition of residential mortgage loans held for sale are expensed as incurred, rather than deferred. Changes in fair value under the FVO are recorded in mortgage banking operations non-interest income on the consolidated statements of income. Fair value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Prior to the FVO election, loans were generally sold at a premium or discount from the carrying amount of the loan which represented the lower of cost or fair value. Gain or loss on the sale of loans is recorded in mortgage banking operations non-interest income. Interest income on loans held for sale is recorded in interest income. We routinely issue interest rate lock commitments for residential mortgage loans that we intend to sell. These interest rate lock commitments are considered derivatives. We also enter into loan sale commitments to sell these loans when funded to mitigate the risk that the market value of residential mortgage loans may decline between the time the rate commitment is issued to the customer and the time we sell the loan. These loan sale commitments are also derivatives. Both types of derivatives are recorded at fair value on the consolidated balance sheets with changes in fair value recorded in mortgage banking operations non-interest income. We also originate loans guaranteed by the Small Business Administration (SBA) for the purchase of businesses, business startups, business expansion, equipment, and working capital. All SBA loans are underwritten and documented as prescribed by the SBA. Starting in the first quarter of 2017, the guaranteed portion of SBA loans originated with the intention to sell on the secondary market are classified as held for sale and are carried at the lower of cost or fair value. At the time of the sale, we allocate the carrying value of the entire loan between the guaranteed portion sold and the unguaranteed portion retained based on their relative fair value which results in a discount recorded on the retained portion of the loan. The guaranteed portion is typically sold at a premium and the gain is recognized in other income for any net premium received in excess of the relative fair value of the portion of the loan transferred. The net carrying value of the retained portion of the loans is included in the appropriate loan classification for disclosure purposes, primarily commercial real estate or commercial and industrial. Loans (Excluding Acquired Loans) Loans we intend to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances, net of any deferred origination fees or costs. Interest income on loans is computed over the term of the loans using the effective interest method. 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. Non-performing Loans Interest is not accrued on loans where collectability is uncertain. We discontinue interest accruals on loans generally when principal or interest is due and has remained unpaid for a certain number of days unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual at 90 days, installment loans are placed on non-accrual at 120 days and residential mortgages and consumer lines of credit are generally placed on non-accrual at 180 days. Past due status is based on the contractual terms of the loan. When a loan is placed on non-accrual status, all unpaid interest is reversed against interest income and the amortization of deferred fees and costs is suspended. Payments subsequently received are generally applied to either principal or interest or both, depending on management’s evaluation of collectability. A loan is returned to accrual status when principal and interest are no longer past due and collectability is probable. This generally requires a sustained period of timely principal and interest payments. 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. Recoveries of amounts previously charged off are credited to the allowance for credit losses. We consider a loan impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. The impairment loss is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral, less estimated selling costs, if the loan is collateral dependent. Acquired impaired loans are not classified as non-performing assets as the loans are considered to be performing. Restructured loans are those in which concessions of terms have been made as a result of deterioration in a borrower’s financial condition. In general, the modification or restructuring of a debt constitutes a troubled debt restructuring (TDR) if we for economic or legal reasons related to the borrower’s financial difficulties grant a concession to the borrower that we would not otherwise consider under current market conditions. Debt restructurings or loan modifications for a borrower occur in the normal course of business and do not necessarily constitute TDRs. To designate a loan as a TDR, the presence of both borrower financial distress and a concession of terms must exist. Additionally, a loan designated as a TDR does not necessarily result in the automatic placement of the loan on non-accrual status. When the full collection of principal and interest is reasonably assured on a loan designated as a TDR and the borrower does not otherwise meet the criteria for non-accrual status, we will continue to accrue interest on the loan. A restructured acquired loan that is accounted for as a component of a pool in accordance is not considered a TDR. Allowance for Credit Losses The allowance for credit losses is established as losses are estimated to have occurred through a provision charged to earnings. Loan losses are charged against the allowance for credit losses when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance for credit losses. Allowances for impaired commercial loans over $500,000 are generally determined based on collateral values or the present value of estimated cash flows. All other impaired loans are evaluated in the aggregate based on loan segment loss given default. Changes in the allowance for credit losses related to impaired loans are charged or credited to the provision for credit losses. The allowance for credit losses is maintained at a level that, in management’s judgment, is believed appropriate to absorb probable losses associated with specifically identified loans, as well as estimated probable credit losses inherent in the remainder of the loan portfolio. The appropriateness of the allowance for credit losses is based on management’s evaluation of potential loan losses in the loan portfolio, which includes an assessment of past experience, current economic conditions in specific industries and geographic areas, general economic conditions, known and inherent risks in the loan portfolio, the estimated value of underlying collateral and residuals and changes in the composition of the loan portfolio. Determination of the allowance for credit losses is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on transition matrices with predefined loss emergence periods and consideration of qualitative factors, all of which are susceptible to significant change. Acquired Loans Acquired loans (impaired and non-impaired) are initially recorded at their acquisition-date fair values. Fair values are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, default rates, loss severity, collateral values, discount rates, payment speeds, prepayment risk, and liquidity risk. The carryover of allowance for credit losses related to acquired loans is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. The allowance for credit losses on acquired loans reflects only those losses incurred after acquisition and represents the present value of cash flows expected at acquisition that is no longer expected to be collected. At acquisition, we consider the following factors as indicators that an acquired loan has evidence of deterioration in credit quality and is therefore impaired and in the scope of ASC 310-30: • loans that were 90 days or more past due; • loans that had an internal risk rating of substandard or worse. Substandard is consistent with regulatory definitions and is defined as having a well-defined weakness that jeopardizes liquidation of the loan; • loans that were classified as non-accrual by the acquired bank at the time of acquisition; or • loans that had been previously modified in a TDR. Any acquired loans that were not individually in the scope of ASC 310-30 because they didn’t meet the criteria above were pooled into groups of similar loans based on various factors including borrower type, loan purpose, and collateral type. For these pools, we used certain loan information, including outstanding principal balance, estimated expected losses, weighted average maturity, weighted average margin, and weighted average interest rate along with estimated prepayment rates, probability of default and loss given default to estimate the expected cash flow for each loan pool. We believe analogizing to ASC 310-30 is the more appropriate option to follow in accounting for discount accretion on non-impaired acquired loans other than revolving loans and therefore account for such loans in accordance with ASC 310-30. ASC 310-30 guidance does not apply to revolving loans. Consequently, discount accretion on revolving loans acquired is accounted for using the ASC 310-20 approach. The excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield. The accretable yield is recognized into income over the remaining life of the loan, or pool of loans, using an effective yield method, if the timing and/or amount of cash flows expected to be collected can be reasonably estimated (the accretion model). If the timing and/or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition must be used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected at acquisition is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which we do not expect to collect. Over the life of the acquired loan, we continue to estimate cash flows expected to be collected. Decreases in expected cash flows, other than from prepayments or rate adjustments, are recognized as impairments through a charge to the provision for credit losses resulting in an increase in the allowance for credit losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized on a prospective basis over the loan’s remaining life. Acquired loans that met the criteria for non-accrual of interest prior to acquisition are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, we do not consider acquired contractually delinquent loans to be non-accrual or non-performing and continue to recognize interest income on these loans using the accretion model. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the asset’s estimated useful life. Leasehold improvements are expensed over the lesser of the asset’s estimated useful life or the term of the lease including renewal periods when reasonably assured. Useful lives are dependent upon the nature and condition of the asset and range from 3 to 40 years. Maintenance and repairs are charged to expense as incurred, while major improvements are capitalized and amortized to expense over the identified useful life. Premises and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Cloud Computing Arrangements Beginning in 2016, for new or materially modified contracts, we prospectively adopted new accounting principles to evaluate fees paid for cloud computing arrangements to determine if those arrangements include the purchase of or license to use software that should be accounted for separately as internal-use software. If a contract includes the purchase or license to use software that should be accounted for separately as internal-use software, the contract is amortized over the software’s identified useful life in amortization of intangibles. For contracts that do not include a software license, the contract is accounted for as a service contract with fees paid recorded in other non-interest expense. Other Real Estate Owned Other real estate owned (OREO) is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is included in other assets initially at the lower of estimated fair value of the asset less estimated selling costs or the carrying amount of the loan. Changes to the value subsequent to transfer are recorded in non-interest expense along with direct operating expenses. Gains or losses not previously recognized resulting from sales of OREO are recognized in non-interest expense on the date of sale. Goodwill and Other Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. Intangible assets that have finite lives, such as core deposit intangibles, customer relationship intangibles and renewal lists, are amortized over their estimated useful lives and subject to periodic impairment testing. Core deposit intangibles are primarily amortized over ten years using accelerated methods. Customer renewal lists are amortized over their estimated useful lives which range from eight to thirteen years . Goodwill and other intangibles are subject to impairment testing at the reporting unit level, which must be conducted at least annually. We perform impairment testing during the fourth quarter of each year, or more frequently if impairment indicators exist. We also continue to monitor other intangibles for impairment and to evaluate carrying amounts, as necessary. Determining the fair value of a reporting unit under the goodwill impairment test is judgmental and often involves the use of significant estimates and assumptions. Similarly, estimates and assumptions are used in determining the fair value of other intangible assets. Estimates of fair value are primarily determined using discounted cash flows, market comparisons and recent transactions. These approaches use significant estimates and assumptions including projected future cash flows, discount rates reflecting the market rate of return, projected growth rates and determination and evaluation of appropriate market comparables. However, future events could cause us to conclude that goodwill or other intangibles have become impaired, which would result in recording an impairment loss. Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations. Loan Servicing Rights We have two primary classes of servicing rights, residential mortgage loan servicing and SBA-guaranteed loan servicing. We recognize the right to service residential mortgage loans and SBA-guaranteed loans for others as an asset whether we purchase the servicing rights or as a result from a sale of loans that we originate when the servicing is contractually separated from the underlying loan and retained by us. We initially record servicing rights at fair value in other assets, net on the consolidated balance sheet. Subsequently, servicing rights are measured at the lower of cost or fair value. Servicing rights are amortized in proportion to, and over the period of, estimated net servicing income in mortgage banking operations income for residential mortgage loans and non-interest income for SBA-guaranteed loans. The amount and timing of estimated future net cash flows are updated based on actual results and updated projections. Mortgage servicing rights (MSRs) are separated into pools based on common risk characteristics of the underlying loans and evaluated for impairment at least quarterly. SBA-guaranteed servicing rights are evaluated for impairment at least quarterly on an aggregate basis. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. If impairment exists at the pool level for residential mortgage loans or on an aggregate basis for SBA-guaranteed loans, the servicing right is written down through a valuation allowance and is charged against mortgage banking operations income or non-interest income, respectively. Bank-Owned Life Insurance (BOLI) We have purchased life insurance policies on certain current and former directors, officers and employees for which the Corporation is the owner and beneficiary. These policies are recorded in the consolidated balance sheet at their cash surrender value, or the amount that could be realized by surrendering the policies. Tax-exempt income from death benefits and changes in the net cash surrender value are recorded in bank owned life insurance income. Low Income Housing Tax Credit Partnerships We invest in various affordable housing projects that qualify for low income housing tax credits (LIHTCs). The net investments are recorded in other assets on the consolidated balance sheets. These investments generate a return through the realization of federal tax credits. We use the proportional amortization method to account for a majority of our investments in these entities. LIHTCs that do not meet the requirements of the proportional amortization method are recognized using the equity method. Our net investment in LIHTCs was $20.9 million and $14.0 million at December 31, 2017 and 2016 , respectively. Our unfunded commitments in LIHTCs were $67.2 million and $9.8 million at December 31, 2017 and 2016 , respectively. Income Taxes We file a consolidated federal income tax return. The provision for federal and state income taxes is based on income reported on the consolidated financial statements, rather than the amounts reported on the respective income tax returns. Deferred tax assets and liabilities are computed using tax rates expected to apply to taxable income in the years in which those assets and liabilities are expected to be realized. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized as income or expense in the period that the change in tax rates is enacted. Beginning in the fourth quarter of 2017, we made an accounting policy election to reclassify the stranded tax effects that relate to a change in the federal tax rate from AOCI to retained earnings in accordance with newly adopted accounting guidance. We believe this change in accounting policy reduces the cost and complexity of accounting for stranded tax effects due to a change in federal tax rates. We make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments are applied in the calculation of certain tax credits and in the calculation of the deferred income tax expense or benefit associated with certain deferred tax assets and liabilities. Significant changes to these estimates may result in an increase or decrease to our tax provision in a subsequent period. We recognize interest and/or penalties related to income tax matters in income tax expense. We assess the likelihood that we will be able to recover our deferred tax assets. If recovery is not likely, we will increase our provision for income taxes by recording a valuation allowance against the deferred tax assets that are unlikely to be recovered. We believe that we will ultimately recover the deferred tax assets recorded on our balance sheet. However, should there be a change in our ability to recover our deferred tax assets, the effect of this change would be recorded through the provision for income taxes in the period during which such change occurs. We periodically review the tax positions we take on our tax return and apply a more likely than not recognition threshold for all tax positions that are uncertain. The amount recognized in the financial statements is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. Marketing Costs Marketing costs are generally expensed as incurred. Per Share Amounts Earnings per common share is computed using net income available to common stockholders, which is net income adjusted for preferred stock dividends. Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding, net of unvested shares of restricted stock. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding, adjusted for the dilutive effect of potential common shares issuable for stock options, warrants and restricted shares, as calculated using the treasury stock method. Adjustments to net income available to common stockholders and the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. Beginning in 2017, the assumed proceeds from applying the treasury stock method when computing diluted earnings per share excludes the amount of excess tax benefits that would have been recognized in accumulated paid-in capital in accordance with newly adopted accounting guidance. Retirement Plans FNB sponsors retirement plans f |
New Accounting Standards
New Accounting Standards | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Standards | NEW ACCOUNTING STANDARDS The following paragraphs summarize accounting pronouncements issued by the Financial Accounting Standards Board (FASB) that we recently adopted or will be adopting in the future. Reporting Comprehensive Income Accounting Standards Update (ASU or Update) 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , allows for the reclassification from other comprehensive income to retained earnings for stranded tax effects resulting from the enacted tax bill H.R.1, commonly referred to as the Tax Cuts and Jobs Act (the TCJA). The Update also allows an accounting policy election to reclassify other stranded tax effects that relate to the TCJA but not directly related to the change in federal tax rate. This Update is effective in the first quarter of 2019. Early adoption is permitted for reporting periods for which financial statements have not yet been issued. We adopted this Update in the fourth quarter of 2017 by retrospective application. Upon adoption, the Corporation made a policy election to reclassify stranded tax effects of approximately $14.7 million from AOCI to retained earnings using the specific identification method. Stock-Based Compensation ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting , provides guidance about which changes to the terms and conditions of a share-based payment award requires the application of modification accounting. The Update is effective in the first quarter of 2018. Early adoption is permitted. This Update was adopted in the third quarter of 2017 by prospective application to awards modified on or after the adoption date. This Update did not have a material effect on our consolidated financial statements. ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The Update was adopted in the first quarter of 2017 by an application method determined by the type of transaction impacted by the adoption. This Update did not have a material effect on our consolidated financial statements. Securities ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities which shortens the amortization period for the premium on certain purchased callable securities to the earliest call date. The accounting for purchased callable debt securities held at a discount does not change. The Update is effective in the first quarter of 2019. Early adoption is permitted. The Update is to be applied using a modified retrospective transition method and is not expected to have a material effect on our consolidated financial statements. Retirement Benefits ASU 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, requires that an employer disaggregate the service cost component from the other components of net benefit cost. The amendments also provide explicit guidance on how to present the service cost component and the other components of net benefit cost in the income statement and allows only the service cost component of net benefit cost to be eligible for capitalization. The Update is effective the first quarter of 2018. Early adoption is permitted. The Update is to be applied using a retrospective transition method to adopt the requirement for separate presentation in the income statement of service costs and other components and a prospective transition method to adopt the requirement to limit the capitalization of benefit costs to the service cost component. This Update is not expected to have a material effect on our consolidated financial statements. Goodwill ASU 2017-04, Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , eliminates the requirement of Step 2 in the current guidance to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value in Step 1 of the current guidance. The Update is effective the first quarter of 2020. Early adoption is permitted for annual or interim goodwill impairment tests with a measurement date after January 1, 2017. We adopted this Update in the first quarter of 2017 and it did not have a material effect on our consolidated financial statements. Business Combinations ASU 2017-01, Business Combinations (Topic 850): Clarifying the Definition of a Business , clarifies the definition of a business with the objective of providing guidance to assist in the evaluation of whether transactions should be accounted for as acquisitions (disposals) of assets or businesses. The Update is effective for the first quarter of 2018. Early adoption is permitted for transactions that occurred before the issuance date or effective date of the Update if the transactions were not reported in financial statements that have been issued or made available for issuance. We adopted this Update in the first quarter of 2017. This Update is applied prospectively and did not have a material effect on our consolidated financial statements. Statement of Cash Flows ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force), adds or clarifies guidance on eight cash flow issues. The Update is effective the first quarter of 2018. This Update will be applied retrospectively to all periods presented. Early adoption is permitted. This Update is not expected to have a material effect on our consolidated financial statements. Credit Losses ASU 2016-13 , Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , replaces the current incurred loss impairment methodology with a methodology that reflects current expected credit losses (commonly referred to as “CECL”) for most financial assets measured at amortized cost and certain other instruments, including loans, held-to-maturity debt securities, net investments in leases and off-balance sheet credit exposures. CECL requires loss estimates for the remaining life of the financial asset at the time the asset is originated or acquired, considering historical experience, current conditions and reasonable and supportable forecasts. In addition, the Update will require the use of a modified available-for-sale debt security impairment model and eliminate the current accounting for purchased credit impaired loans and debt securities. The Update is effective the first quarter of 2020 under a cumulative-effect adjustment to retained earnings. Early adoption is permitted for fiscal years beginning after December 15, 2018. The CECL model is a significant change from existing GAAP and may result in a material change to the Corporation’s accounting for financial instruments. We are reviewing our business processes, information systems and controls to support recognition and disclosures under this Update. This review includes an assessment of our existing credit models and the financial statement disclosure requirements. The impact of this Update will be dependent on the portfolio composition, credit quality and economic conditions at the time of adoption. Revenue Recognition ASU 2014-09, Revenue from Contracts with Customers (Topic 606), modifies the guidance used to recognize revenue from contracts with customers for transfers of goods and services and transfers of nonfinancial assets, unless those contracts are within the scope of other guidance. The guidance also requires new qualitative and quantitative disclosures about contract balances and performance obligations. We will adopt ASU 2014-09 in the first quarter of 2018 under the modified retrospective method where the cumulative effect is recognized at the date of initial application. Based on our evaluation under the current guidance, we estimate that substantially all of our interest income and non-interest income will not be impacted by the adoption of this ASU because either the revenue from those contracts with customers is covered by other guidance in U.S. GAAP or the revenue recognition outcomes anticipated with the adoption of this ASU will likely be similar to our current revenue recognition practices. In addition, we reviewed, and where necessary, enhanced our business processes, systems and controls to support recognition and disclosures under the new standard. The adoption of this Update is not expected to have a material effect on our consolidated financial statements. Investments ASU 2016-07, Investments—Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting, eliminates the requirement for an investor to retrospectively apply the equity method when an investment that it had accounted for by another method qualifies for use of the equity method. The Update was adopted in the first quarter of 2017 by prospective application. This Update did not have a material effect on our consolidated financial statements. Derivative and Hedging Activities ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , improves the financial reporting of hedging to better align with the entity’s risk management activities. In addition, this Update makes certain targeted improvements to simplify the application of the current hedge accounting guidance. The Update is effective in the first quarter of 2019 by modified retrospective method. The presentation and disclosure guidance are applied prospectively. Early adoption is permitted. We are currently assessing the potential impact to our consolidated financial statements. ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (a consensus of the Emerging Issues Task Force), provides clarification that determination of whether an embedded contingent put or call option in a financial instrument is clearly and closely related to the debt host requires only an analysis of the four-step decision sequence described in ASC 815-15-25-42. The Update was adopted in the first quarter of 2017 by modified retrospective application. This Update did not have a material effect on our consolidated financial statements. ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the Emerging Issues Task Force), clarifies that a change in counterparty to a derivative instrument that has been designated as a hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided all other hedge accounting criteria continue to be met. The Update was adopted in the first quarter of 2017 by prospective application. This Update did not have a material effect on our consolidated financial statements. Extinguishments of Liabilities ASU 2016-04, Liabilities—Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the Emerging Issues Task Force), requires entities that sell prepaid stored-value products redeemable for goods, services or cash at third-party merchants to recognize breakage. The Update is effective in the first quarter of 2018 with either the modified retrospective method by means of a cumulative-effect adjustment to retained earnings or retrospective application. Early adoption is permitted. This Update is not expected to have a material effect on our consolidated financial statements. Leases ASU 2016-02, Leases (Topic 842), requires lessees to put most leases on their balance sheets but recognize expenses in the income statement similar to current accounting. In addition, the Update changes the guidance for sale-leaseback transactions, initial direct costs and lease executory costs for most entities. All entities will classify leases to determine how to recognize lease related revenue and expense. The Update is effective in the first quarter of 2019 with modified retrospective application including a number of optional practical expedients. Early adoption is permitted. We are currently assessing the potential impact to our consolidated financial statements. Financial Instruments – Recognition and Measurement ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, amends the presentation and accounting for certain financial instruments, including liabilities measured at fair value under the fair value option, and equity investments. The guidance also updates fair value presentation and disclosure requirements for financial instruments measured at amortized cost. The Update is effective in the first quarter of 2018 with a cumulative-effect adjustment as of the beginning of the fiscal year of adoption. Early adoption is prohibited except for the provision requiring the recognition of changes in fair value related to changes in an entity’s own credit risk in other comprehensive income for financial liabilities measured using the fair value option. This Update is not expected to have a material effect on our consolidated financial statements. |
Mergers and Acquisitions
Mergers and Acquisitions | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | MERGERS AND ACQUISITIONS Yadkin Financial Corporation On March 11, 2017, we completed our acquisition of Yadkin Financial Corporation (YDKN), a bank holding company based in Raleigh, North Carolina. YDKN’s banking affiliate, Yadkin Bank, was also merged into FNBPA on March 11, 2017. YDKN’s results of operations have been included in our consolidated statements of income since that date. The acquisition enabled us to enter several North Carolina markets, including Raleigh, Charlotte and the Piedmont Triad, which is comprised of Winston-Salem, Greensboro and High Point. We also completed the core systems conversion activities during the first quarter. On the acquisition date, the fair values of YDKN included $6.8 billion in assets, of which there was $5.1 billion in loans and $5.2 billion in deposits. The acquisition was valued at $1.8 billion based on the acquisition-date FNB common stock closing price of $15.97 and resulted in FNB issuing 111,619,622 shares of common stock in exchange for 51,677,565 shares of YDKN common stock. Under the terms of the merger agreement, shareholders of YDKN received 2.16 shares of FNB common stock for each share of YDKN common stock and cash in lieu of fractional shares. YDKN’s fully vested and outstanding stock options were converted into options to purchase and receive FNB common stock. In conjunction with the acquisition, we assumed a warrant that was issued by YDKN to the U.S. Department of the Treasury (UST) under the Capital Purchase Program (CPP). Based on the exchange ratio, this warrant, which expires in 2019, was converted into a warrant to purchase up to 207,320 shares of FNB common stock with an exercise price of $9.63 . The acquisition of YDKN constituted a business combination and has been accounted for using the acquisition method of accounting, and accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at fair value on the acquisition date. The determination of fair values required management to make certain estimates about discount rates, future expected cash flows, market conditions, and other future events that are highly subjective in nature and may require adjustments, which can be updated for up to a year following the acquisition. As of December 31, 2017 , we believe that all fair values and related adjustments to goodwill have been recorded with the exception of acquired premises and equipment which were recorded at provisional amounts. The following table presents the provisional estimate and fair value amounts recorded for certain acquired items: (in thousands) Acquired Asset or Liability Balance Sheet Line Item Provisional Estimate Fair Value Increase (Decrease) Loans and leases Loans and leases, net $ 5,116,497 $ 5,114,355 $ (2,142 ) Premises and equipment Premises and equipment, net 95,208 70,031 (25,177 ) Deferred taxes Other assets 94,307 125,100 30,793 Other liabilities Other liabilities 70,761 68,264 (2,497 ) These adjustments to fair value did not result in any significant impact on the consolidated income statement for 2017. Based on the purchase price allocation, we recorded $1.2 billion in goodwill and $55.7 million in core deposit intangibles as a result of the acquisition. The core deposit intangible asset is being amortized over the estimated useful life of approximately ten years utilizing an accelerated method. Goodwill is not amortized, but is periodically evaluated for impairment. None of the goodwill is deductible for income tax purposes. The following pro forma financial information for the periods presented reflects our estimated consolidated pro forma results of operations as if the YDKN acquisition occurred on January 1, 2016, unadjusted for potential cost savings and other business synergies we expect to receive as a result of the acquisition: (dollars in thousands, except per share data) FNB YDKN Pro Forma Adjustments Pro Forma Combined Twelve Months Ended December 31, 2017 Revenue (net interest income and non-interest income) $ 1,077,984 $ 74,574 $ 3,419 $ 1,155,977 Net income 227,478 22,435 (1,165 ) 248,748 Net income available to common stockholders 219,437 22,435 (1,165 ) 240,707 Earnings per common share – basic 0.92 0.78 — 0.80 Earnings per common share – diluted 0.91 0.77 — 0.79 Twelve Months Ended December 31, 2016 Revenue $ 813,273 $ 293,655 $ (5,290 ) $ 1,101,638 Net income 170,891 55,168 (7,862 ) 218,197 Net income available to common stockholders 162,850 55,168 (7,862 ) 210,156 Earnings per common share – basic 0.79 1.15 — 0.67 Earnings per common share – diluted 0.78 1.14 — 0.67 The pro forma adjustments reflect amortization and associated taxes related to the preliminary purchase accounting adjustments made to record various acquired items at fair value. In connection with the YDKN acquisition, we incurred expenses related to systems conversions and other costs of integrating and conforming acquired operations with and into FNB. These merger-related expenses, that were expensed as incurred, amounted to $56.2 million for the year ended December 31, 2017 . Contract terminations and severance costs comprised 30.9% and 24.3% , respectively, of the merger-related expenses, with the remainder consisting of other non-interest expenses, including professional services, marketing and advertising, technology and communications, occupancy and equipment, and charitable contributions. We also incurred issuance costs of $0.6 million which were charged to additional paid-in capital. Branch Purchase – Fifth Third Bank On April 22, 2016, we completed our purchase of 17 branch-banking locations and certain consumer loans in the Pittsburgh, Pennsylvania metropolitan area from Fifth Third Bank (Fifth Third). The fair value of the acquired assets totaled $312.4 million , including $198.9 million in cash, $95.4 million in loans and $14.1 million in fixed and other assets. We also assumed $302.5 million in deposits, for which we paid a deposit premium of 1.97% , as part of the transaction. The assets and liabilities relating to these purchased branches were recorded on our balance sheet at their fair values as of April 22, 2016, and the related results of operations for these branches have been included in our consolidated income statement since that date. We recorded $14.1 million in goodwill and $4.1 million in core deposit intangibles as a result of the purchase transaction. The goodwill for this transaction is deductible for income tax purposes. Metro Bancorp, Inc. On February 13, 2016, we completed our acquisition of Metro Bancorp, Inc. (METR), a bank holding company based in Harrisburg, Pennsylvania. The acquisition enhanced our distribution and scale across Central Pennsylvania, strengthened our position as the largest Pennsylvania-based regional bank and allowed us to leverage the significant infrastructure investments made in connection with the expansion of our product offerings and risk management systems. On the acquisition date, the fair values of METR included $2.8 billion in assets, of which there was $1.9 billion in loans and $2.3 billion in deposits. The acquisition was valued at $404.2 million and resulted in FNB issuing 34,041,181 shares of common stock in exchange for 14,345,319 shares of METR common stock. We also acquired the fully vested outstanding stock options of METR. The assets and liabilities of METR were recorded on our consolidated balance sheet at their fair values as of the acquisition date, and METR’s results of operations have been included in our consolidated income statement since that date. METR’s banking affiliate, Metro Bank, was merged into FNBPA on February 13, 2016. Based on the purchase price allocation, we recorded $185.1 million in goodwill and $24.2 million in core deposit intangibles as a result of the acquisition. None of the goodwill is deductible for income tax purposes as the acquisition is accounted for as a tax-free exchange for tax purposes. In connection with the METR acquisition, we incurred expenses related to systems conversions and other costs of integrating and conforming acquired operations with and into FNB. These merger-related charges, that were expensed as incurred, amounted to $0.4 million and $31.0 million for the years ended December 31, 2017 and 2016 . Severance costs comprised 39.9% of the merger-related expenses, with the remainder consisting of other non-interest expenses, including professional services, marketing and advertising, technology and communications, occupancy and equipment, and charitable contributions. We also incurred issuance costs of $0.7 million which were charged to additional paid-in capital. Branch Purchase – Bank of America On September 18, 2015, we completed our purchase of five branch-banking locations in southeastern Pennsylvania from Bank of America (BofA). The fair value of the acquired assets totaled $153.1 million , including $148.2 million in cash and $2.0 million in fixed and other assets. We also assumed $154.6 million in deposits associated with these branches. We paid a deposit premium of 1.96% and acquired an immaterial amount of loans as part of the transaction. Our operating results for 2015 include the impact of branch activity subsequent to the September 18, 2015 closing date. We recorded $1.5 million in goodwill and $3.0 million in core deposit intangibles as a result of the purchase transaction. The goodwill for this transaction is deductible for income tax purposes. Insurance Brokerage Purchases On June 22 and July 18, 2015, we, through our wholly-owned subsidiary, FNIA, acquired certain insurance-related assets from Pittsburgh-area insurance brokerage firms. Under the combined purchase agreements, we paid $3.4 million in cash and recorded goodwill of $1.8 million , other intangibles of $1.4 million and miscellaneous other assets of $0.2 million in connection with these acquisitions. The following table summarizes the amounts recorded on the consolidated balance sheets as of each of the acquisition dates in conjunction with the acquisitions discussed above: (in thousands) YDKN Fifth Third Branches METR BofA Branches Fair value of consideration paid $ 1,784,783 $ — $ 404,242 $ — Fair value of identifiable assets acquired: Cash and cash equivalents 196,964 198,872 46,890 148,159 Securities 940,272 — 722,980 — Loans 5,114,355 95,354 1,862,447 842 Core deposit and other intangible assets 69,555 4,129 24,163 3,000 Fixed and other assets 461,293 14,069 127,185 1,133 Total identifiable assets acquired 6,782,439 312,424 2,783,665 153,134 Fair value of liabilities assumed: Deposits 5,176,915 302,529 2,328,238 154,619 Borrowings 969,385 — 227,539 — Other liabilities 68,264 24,041 8,700 — Total liabilities assumed 6,214,564 326,570 2,564,477 154,619 Fair value of net identifiable assets acquired 567,875 (14,146 ) 219,188 (1,485 ) Goodwill recognized (1) $ 1,216,908 $ 14,146 $ 185,054 $ 1,485 (1) All of the goodwill for these transactions has been recorded in the Community Banking segment. |
Securities
Securities | 12 Months Ended |
Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | SECURITIES The amortized cost and fair value of securities are as follows: (in thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale (AFS): December 31, 2017 U.S. Treasury $ — $ — $ — $ — U.S. government-sponsored entities 347,767 52 (3,877 ) 343,942 Residential mortgage-backed securities: Agency mortgage-backed securities 1,615,168 1,225 (17,519 ) 1,598,874 Agency collateralized mortgage obligations 813,034 — (18,077 ) 794,957 Non-agency collateralized mortgage obligations 1 — — 1 Commercial mortgage-backed securities — — — — States of the U.S. and political subdivisions 21,151 6 (64 ) 21,093 Other debt securities 4,913 — (243 ) 4,670 Total debt securities 2,802,034 1,283 (39,780 ) 2,763,537 Equity securities 587 438 — 1,025 Total securities available for sale $ 2,802,621 $ 1,721 $ (39,780 ) $ 2,764,562 December 31, 2016 U.S. Treasury $ 29,874 $ 79 $ — $ 29,953 U.S. government-sponsored entities 367,604 864 (3,370 ) 365,098 Residential mortgage-backed securities: Agency mortgage-backed securities 1,267,535 2,257 (16,994 ) 1,252,798 Agency collateralized mortgage obligations 546,659 419 (11,104 ) 535,974 Non-agency collateralized mortgage obligations 891 6 — 897 Commercial mortgage-backed securities 1,292 — (1 ) 1,291 States of the U.S. and political subdivisions 36,065 86 (302 ) 35,849 Other debt securities 9,828 94 (435 ) 9,487 Total debt securities 2,259,748 3,805 (32,206 ) 2,231,347 Equity securities 273 367 — 640 Total securities available for sale $ 2,260,021 $ 4,172 $ (32,206 ) $ 2,231,987 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Held to Maturity (HTM): December 31, 2017 U.S. Treasury $ 500 $ 134 $ — $ 634 U.S. government-sponsored entities 247,310 93 (4,388 ) 243,015 Residential mortgage-backed securities: Agency mortgage-backed securities 1,219,802 3,475 (9,058 ) 1,214,219 Agency collateralized mortgage obligations 777,146 32 (20,095 ) 757,083 Non-agency collateralized mortgage obligations — — — — Commercial mortgage-backed securities 80,786 414 (575 ) 80,625 States of the U.S. and political subdivisions 916,724 13,209 (7,130 ) 922,803 Total securities held to maturity $ 3,242,268 $ 17,357 $ (41,246 ) $ 3,218,379 December 31, 2016 U.S. Treasury $ 500 $ 137 $ — $ 637 U.S. government-sponsored entities 272,645 348 (4,475 ) 268,518 Residential mortgage-backed securities: Agency mortgage-backed securities 852,215 5,654 (8,645 ) 849,224 Agency collateralized mortgage obligations 743,148 447 (17,801 ) 725,794 Non-agency collateralized mortgage obligations 1,689 3 (6 ) 1,686 Commercial mortgage-backed securities 49,797 181 (226 ) 49,752 States of the U.S. and political subdivisions 417,348 1,456 (19,638 ) 399,166 Total securities held to maturity $ 2,337,342 $ 8,226 $ (50,791 ) $ 2,294,777 During 2017 , we received proceeds of $786.8 million from sales of AFS securities and realized a net gain of $3.7 million (gross gains of $4.7 million and gross losses of $1.0 million ). We also received proceeds of $57.1 million from sales of HTM securities with a net carrying value of $54.9 million and realized a net gain of $2.2 million (gross gains of $2.2 million and gross losses of $4,000 ). The HTM securities that were sold represented amortizing securities that had already returned more than 85% of their principal outstanding at the time we acquired the securities and could be sold without tainting the remaining HTM portfolio. Gross gains and gross losses were realized on securities as follows: Year Ended December 31 2017 2016 2015 (in thousands) Gross gains $ 6,866 $ 713 $ 831 Gross losses (950 ) (1 ) (9 ) Net gains $ 5,916 $ 712 $ 822 As of December 31, 2017 , the amortized cost and fair value of securities, by contractual maturities, were as follows: Available for Sale Held to Maturity (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 81,819 $ 81,594 $ 30,438 $ 30,254 Due from one to five years 278,153 274,516 225,054 220,921 Due from five to ten years 10,892 10,795 81,650 82,672 Due after ten years 2,967 2,800 827,392 832,605 373,831 369,705 1,164,534 1,166,452 Residential mortgage-backed securities: Agency mortgage-backed securities 1,615,168 1,598,874 1,219,802 1,214,219 Agency collateralized mortgage obligations 813,034 794,957 777,146 757,083 Non-agency collateralized mortgage obligations 1 1 — — Commercial mortgage-backed securities — — 80,786 80,625 Equity securities 587 1,025 — — Total securities $ 2,802,621 $ 2,764,562 $ 3,242,268 $ 3,218,379 Maturities may differ from contractual terms because borrowers may have the right to call or prepay obligations with or without penalties. Periodic payments are received on residential mortgage-backed securities based on the payment patterns of the underlying collateral. Following is information relating to securities pledged: December 31 2017 2016 (dollars in thousands) Securities pledged (carrying value): To secure public deposits, trust deposits and for other purposes as required by law $ 3,491,634 $ 2,779,335 As collateral for short-term borrowings 263,756 322,038 Securities pledged as a percent of total securities 62.5 % 67.9 % Following are summaries of the fair values and unrealized losses of temporarily impaired securities, segregated by length of impairment: Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Value Unrealized Losses # Fair Value Unrealized Losses # Fair Value Unrealized Losses Securities Available for Sale: December 31, 2017 U.S. government-sponsored entities 7 $ 106,809 $ (363 ) 10 $ 201,485 $ (3,514 ) 17 $ 308,294 $ (3,877 ) Residential mortgage-backed securities: Agency mortgage-backed securities 43 976,738 (7,723 ) 28 473,625 (9,796 ) 71 1,450,363 (17,519 ) Agency collateralized mortgage obligations 14 409,005 (6,231 ) 33 335,452 (11,846 ) 47 744,457 (18,077 ) Non-agency collateralized mortgage obligations — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — States of the U.S. and political subdivisions 7 11,254 (55 ) 1 879 (9 ) 8 12,133 (64 ) Other debt securities — — — 3 4,670 (243 ) 3 4,670 (243 ) Equity securities — — — — — — — — — Total temporarily impaired securities AFS 71 $ 1,503,806 $ (14,372 ) 75 $ 1,016,111 $ (25,408 ) 146 $ 2,519,917 $ (39,780 ) December 31, 2016 U.S. government-sponsored entities 11 $ 211,636 $ (3,370 ) — $ — $ — 11 $ 211,636 $ (3,370 ) Residential mortgage-backed securities: Agency mortgage-backed securities 55 1,056,731 (16,994 ) — — — 55 1,056,731 (16,994 ) Agency collateralized mortgage obligations 26 346,662 (7,261 ) 9 89,040 (3,843 ) 35 435,702 (11,104 ) Commercial mortgage-backed securities 1 1,291 (1 ) — — — 1 1,291 (1 ) States of the U.S. and political subdivisions 20 28,631 (302 ) — — — 20 28,631 (302 ) Other debt securities — — — 3 4,470 (435 ) 3 4,470 (435 ) Total temporarily impaired securities AFS 113 $ 1,644,951 $ (27,928 ) 12 $ 93,510 $ (4,278 ) 125 $ 1,738,461 $ (32,206 ) Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Value Unrealized Losses # Fair Value Unrealized Losses # Fair Value Unrealized Losses Securities Held to Maturity: December 31, 2017 U.S. government-sponsored entities 4 $ 54,790 $ (239 ) 10 $ 185,851 $ (4,149 ) 14 $ 240,641 $ (4,388 ) Residential mortgage-backed securities: Agency mortgage-backed securities 36 648,485 (4,855 ) 11 183,989 (4,203 ) 47 832,474 (9,058 ) Agency collateralized mortgage obligations 14 275,290 (1,701 ) 35 473,257 (18,394 ) 49 748,547 (20,095 ) Non-agency collateralized mortgage obligations — — — — — — — — — Commercial mortgage-backed securities 3 26,399 (123 ) 2 19,443 (452 ) 5 45,842 (575 ) States of the U.S. and political subdivisions 16 56,739 (933 ) 37 121,536 (6,197 ) 53 178,275 (7,130 ) Total temporarily impaired securities HTM 73 $ 1,061,703 $ (7,851 ) 95 $ 984,076 $ (33,395 ) 168 $ 2,045,779 $ (41,246 ) December 31, 2016 U.S. government-sponsored entities 10 $ 185,525 $ (4,475 ) — $ — $ — 10 $ 185,525 $ (4,475 ) Residential mortgage-backed securities: Agency mortgage-backed securities 36 551,404 (8,645 ) — — — 36 551,404 (8,645 ) Agency collateralized mortgage obligations 29 516,237 (13,710 ) 12 112,690 (4,091 ) 41 628,927 (17,801 ) Non-agency collateralized mortgage obligations 3 1,128 (6 ) — — — 3 1,128 (6 ) Commercial mortgage-backed securities 1 12,317 (10 ) 1 8,267 (216 ) 2 20,584 (226 ) States of the U.S. and political subdivisions 94 247,301 (19,638 ) — — — 94 247,301 (19,638 ) Total temporarily impaired securities HTM 173 $ 1,513,912 $ (46,484 ) 13 $ 120,957 $ (4,307 ) 186 $ 1,634,869 $ (50,791 ) We do not intend to sell the debt securities and it is not more likely than not that we will be required to sell the securities before recovery of their amortized cost basis. Other-Than-Temporary Impairment We evaluate our investment securities portfolio for OTTI on a quarterly basis. Impairment is assessed at the individual security level. We consider an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. The following table presents a summary of the cumulative credit-related OTTI charges recognized as components of earnings for securities for which a portion of an OTTI is recognized in other comprehensive income: (in thousands) Equities Total For the Year Ended December 31, 2016 Beginning balance $ 27 $ 27 Loss where impairment was not previously recognized — — Additional loss where impairment was previously recognized — — Reduction due to credit impaired securities sold (27 ) (27 ) Ending balance $ — $ — We did not recognize any OTTI losses on securities for the years ended December 31, 2017 , 2016 and 2015 . States of the U.S. and Political Subdivisions Our municipal bond portfolio with a carrying amount of $937.8 million as of December 31, 2017 is highly rated with an average entity-specific rating of AA and 99% of the portfolio rated A or better. All of the securities in the municipal portfolio are general obligation bonds. Geographically, municipal bonds support our primary footprint as 65% of the securities are from municipalities located throughout Pennsylvania, Ohio, Maryland, North Carolina and South Carolina. The average holding size of the securities in the municipal bond portfolio is $3.0 million . In addition to the strong stand-alone ratings, 62% of the municipalities have some formal credit enhancement insurance that strengthens the creditworthiness of their issue. Management reviews the credit profile of each issuer on a quarterly basis. |
Federal Home Loan Bank Stock
Federal Home Loan Bank Stock | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Federal Home Loan Bank Stock | FEDERAL HOME LOAN BANK STOCK We are a member of the Federal Home Loan Bank (FHLB) of Pittsburgh. The FHLB requires members to purchase and hold a specified minimum level of FHLB stock based upon their level of borrowings, collateral balances and participation in other programs offered by the FHLB. Stock in the FHLB is non-marketable and is redeemable at the discretion of the FHLB. Both cash and stock dividends on FHLB stock are reported as income. Members do not purchase stock in the FHLB for the same reasons that traditional equity investors acquire stock in an investor-owned enterprise. Rather, members purchase stock to obtain access to the low-cost products and services offered by the FHLB. Unlike equity securities of traditional for-profit enterprises, the stock of FHLB does not provide its holders with an opportunity for capital appreciation because, by regulation, FHLB stock can only be purchased, redeemed and transferred at par value. At December 31, 2017 and 2016 , our FHLB stock totaled $160.5 million and $85.0 million , respectively, and is included in other assets on the consolidated balance sheets. The increase in FHLB stock is a result of the YDKN acquisition. We account for the stock in accordance with ASC 325, which requires the investment to be carried at cost and evaluated for impairment based on the ultimate recoverability of the par value. Due to the regular quarterly dividends in 2016 and 2017, we believe our holdings in FHLB stock are ultimately recoverable at par value and, therefore, determined that the stock was not other-than-temporarily impaired. In addition, we have ample liquidity and do not require redemption of our FHLB stock in the foreseeable future. |
Loans and Leases
Loans and Leases | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Loans and Leases | LOANS AND LEASES Following is a summary of loans and leases, net of unearned income: (in thousands) Originated Loans and Leases Acquired Loans Total Loans and Leases December 31, 2017 Commercial real estate $ 5,174,783 $ 3,567,081 $ 8,741,864 Commercial and industrial 3,495,247 675,420 4,170,667 Commercial leases 266,720 — 266,720 Other 17,063 — 17,063 Total commercial loans and leases 8,953,813 4,242,501 13,196,314 Direct installment 1,755,713 149,822 1,905,535 Residential mortgages 2,036,226 666,465 2,702,691 Indirect installment 1,448,268 165 1,448,433 Consumer lines of credit 1,151,470 594,323 1,745,793 Total consumer loans 6,391,677 1,410,775 7,802,452 Total loans and leases, net of unearned income $ 15,345,490 $ 5,653,276 $ 20,998,766 December 31, 2016 Commercial real estate $ 4,095,817 $ 1,339,345 $ 5,435,162 Commercial and industrial 2,711,886 330,895 3,042,781 Commercial leases 196,636 — 196,636 Other 35,878 — 35,878 Total commercial loans and leases 7,040,217 1,670,240 8,710,457 Direct installment 1,765,257 79,142 1,844,399 Residential mortgages 1,446,776 397,798 1,844,574 Indirect installment 1,196,110 203 1,196,313 Consumer lines of credit 1,099,627 201,573 1,301,200 Total consumer loans 5,507,770 678,716 6,186,486 Total loans and leases, net of unearned income $ 12,547,987 $ 2,348,956 $ 14,896,943 The loans and leases portfolio categories are comprised of the following: • Commercial real estate includes both owner-occupied and non-owner-occupied loans secured by commercial properties; • Commercial and industrial includes loans to businesses that are not secured by real estate; • Commercial leases consist of leases for new or used equipment; • Other is comprised primarily of credit cards and mezzanine loans; • Direct installment is comprised of fixed-rate, closed-end consumer loans for personal, family or household use, such as home equity loans and automobile loans; • Residential mortgages consist of conventional and jumbo mortgage loans for 1-4 family properties; • Indirect installment is comprised of loans originated by approved third parties and underwritten by us, primarily automobile loans; and • Consumer lines of credit include home equity lines of credit (HELOC) and consumer lines of credit that are either unsecured or secured by collateral other than home equity. The loans and leases portfolio consists principally of loans to individuals and small- and medium-sized businesses within our primary market areas of Pennsylvania, eastern Ohio, Maryland, North Carolina, South Carolina and northern West Virginia. The loans and leases portfolio also contains Regency consumer finance loans to individuals in Pennsylvania, Ohio, Tennessee and Kentucky. Due to the relative size of the Regency consumer finance loan portfolio, these loans are not segregated from other consumer loans. The following table shows certain information relating to the Regency consumer finance loans: December 31 2017 2016 (dollars in thousands) Regency consumer finance loans $ 174,916 $ 184,687 Percent of total loans and leases 0.8 % 1.2 % The following table shows certain information relating to commercial real estate loans: December 31 2017 2016 (dollars in thousands) Commercial construction, acquisition and development loans $ 1,170,175 $ 597,617 Percent of total loans and leases 5.6 % 4.0 % Commercial real estate: Percent owner-occupied 35.3 % 36.2 % Percent non-owner-occupied 64.7 % 63.8 % We have extended credit to certain directors and executive officers and their related interests. These related-party loans were made in the ordinary course of business under normal credit terms and do not involve more than a normal risk of collection. Following is a summary of the activity for these loans to related parties during 2017 : (in thousands) Balance at beginning of period $ 21,569 New loans 1,171 Repayments (3,447 ) Other 518 Balance at end of period $ 19,811 Other represents the net change in loan balances resulting from changes in related parties during 2017 . Acquired Loans All acquired loans were initially recorded at fair value at the acquisition date. Refer to the Acquired Loans section in Note 1, “Summary of Significant Accounting Policies,” for a discussion of ASC 310-20 and ASC 310-30 loans. The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheets are as follows: December 31 2017 2016 (in thousands) Accounted for under ASC 310-30: Outstanding balance $ 5,176,015 $ 2,346,687 Carrying amount 4,834,256 2,015,904 Accounted for under ASC 310-20: Outstanding balance 835,130 342,015 Carrying amount 812,322 325,784 Total acquired loans: Outstanding balance 6,011,145 2,688,702 Carrying amount 5,646,578 2,341,688 The outstanding balance is the undiscounted sum of all amounts owed under the loan, including amounts deemed principal, interest, fees, penalties and other, whether or not currently due and whether or not any such amounts have been written or charged-off. The carrying amount of purchased credit impaired loans included in the table above totaled $1.9 million at December 31, 2017 and $2.8 million at December 31, 2016 , representing 0.03% and 0.12% of the carrying amount of total acquired loans as of each date. The following table provides changes in accretable yield for all acquired loans accounted for under ASC 310-30. Loans accounted for under ASC 310-20 are not included in this table. Year Ended December 31 2017 2016 (in thousands) Balance at beginning of period $ 467,070 $ 256,120 Acquisitions 444,715 308,312 Reduction due to unexpected early payoffs (127,949 ) (86,046 ) Reclass from non-accretable difference 155,840 92,823 Disposals/transfers (3,559 ) (409 ) Other (658 ) — Accretion (226,978 ) (103,730 ) Balance at end of period $ 708,481 $ 467,070 Cash flows expected to be collected on acquired 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 are recorded first as a reversal of previously recorded impairment, if any, and then as an increase in prospective yield when all previously recorded impairment has been recaptured. Decreases in expected cash flows are recognized as impairment through a charge to the provision for credit losses and credit to the allowance for credit losses. During 2017 , there was an overall improvement in cash flow expectations which resulted in a net reclassification of $155.8 million from the non-accretable difference to accretable yield. This reclassification was $92.8 million for 2016 . The reclassification from the non-accretable difference to the accretable yield results in prospective yield adjustments on the loan pools. The following table reflects amounts at acquisition for all purchased loans subject to ASC 310-30 (impaired and non-impaired loans with deteriorated credit quality) acquired from YDKN in 2017 based on the fair value as described in Note 3. (in thousands) Acquired Impaired Loans Acquired Performing Loans Total Contractually required cash flows at acquisition $ 46,053 $ 5,085,712 $ 5,131,765 Non-accretable difference (expected losses and foregone interest) (23,924 ) (406,173 ) (430,097 ) Cash flows expected to be collected at acquisition 22,129 4,679,539 4,701,668 Accretable yield (3,266 ) (441,449 ) (444,715 ) Fair value of acquired loans at acquisition $ 18,863 $ 4,238,090 $ 4,256,953 In addition, loans purchased in the YDKN acquisition that were not subject to ASC 310-30 had the following balances at the date of acquisition: fair value of $778.4 million ; unpaid principal balance of $791.3 million ; and contractual cash flows not expected to be collected of $122.9 million . Credit Quality Management monitors the credit quality of our loan portfolio using several performance measures to do so based on payment activity and borrower performance. Non-performing loans include non-accrual loans and non-performing troubled debt restructurings (TDRs). Past due loans are reviewed on a monthly basis to identify loans for non-accrual status. We place originated loans on non-accrual status and discontinue interest accruals on originated loans generally when principal or interest is due and has remained unpaid for a certain number of days, or when the full amount of principal and interest is due and has remained unpaid for a certain number of days, unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual at 90 days, installment loans are placed on non-accrual at 120 days and residential mortgages and consumer lines of credit are generally placed on non-accrual at 180 days, though we may place a loan on non-accrual prior to these past due thresholds as warranted. When a loan is placed on non-accrual status, all unpaid accrued interest is reversed. Non-accrual loans may not be restored to accrual status until all delinquent principal and interest have been paid and the ultimate ability to collect the remaining principal and interest is reasonably assured. TDRs are loans in which we have granted a concession on the interest rate or the original repayment terms due to the borrower’s financial distress. Following is a summary of non-performing assets: December 31 2017 2016 (dollars in thousands) Non-accrual loans $ 74,635 $ 65,479 Troubled debt restructurings 23,481 20,428 Total non-performing loans 98,116 85,907 Other real estate owned (OREO) 40,606 32,490 Total non-performing assets $ 138,722 $ 118,397 Asset quality ratios: Non-performing loans / total loans and leases 0.47 % 0.58 % Non-performing loans + OREO / total loans and leases + OREO 0.66 % 0.79 % Non-performing assets / total assets 0.44 % 0.54 % The carrying value of residential other real estate owned (OREO) held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure amounted to $3.6 million at December 31, 2017 . The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at December 31, 2017 and December 31, 2016 totaled $15.2 million and $12.0 million , respectively. The following tables provide an analysis of the aging of loans by class segregated by loans and leases originated and loans acquired: (in thousands) 30-89 Days Past Due ≥ 90 Days Past Due and Still Accruing Non- Accrual Total Past Due Current Total Loans and Leases Originated Loans and Leases December 31, 2017 Commercial real estate $ 8,273 $ 1 $ 24,773 $ 33,047 $ 5,141,736 $ 5,174,783 Commercial and industrial 8,948 3 17,077 26,028 3,469,219 3,495,247 Commercial leases 1,382 41 1,574 2,997 263,723 266,720 Other 83 153 1,000 1,236 15,827 17,063 Total commercial loans and leases 18,686 198 44,424 63,308 8,890,505 8,953,813 Direct installment 13,192 4,466 8,896 26,554 1,729,159 1,755,713 Residential mortgages 14,096 2,832 5,771 22,699 2,013,527 2,036,226 Indirect installment 10,313 611 2,240 13,164 1,435,104 1,448,268 Consumer lines of credit 5,859 1,014 2,313 9,186 1,142,284 1,151,470 Total consumer loans 43,460 8,923 19,220 71,603 6,320,074 6,391,677 Total originated loans and leases $ 62,146 $ 9,121 $ 63,644 $ 134,911 $ 15,210,579 $ 15,345,490 December 31, 2016 Commercial real estate $ 8,452 $ 1 $ 20,114 $ 28,567 $ 4,067,250 $ 4,095,817 Commercial and industrial 16,019 3 24,141 40,163 2,671,723 2,711,886 Commercial leases 973 1 3,429 4,403 192,233 196,636 Other 398 83 1,000 1,481 34,397 35,878 Total commercial loans and leases 25,842 88 48,684 74,614 6,965,603 7,040,217 Direct installment 10,573 4,386 6,484 21,443 1,743,814 1,765,257 Residential mortgages 10,594 3,014 3,316 16,924 1,429,852 1,446,776 Indirect installment 9,312 513 1,983 11,808 1,184,302 1,196,110 Consumer lines of credit 3,529 1,112 1,616 6,257 1,093,370 1,099,627 Total consumer loans 34,008 9,025 13,399 56,432 5,451,338 5,507,770 Total originated loans and leases $ 59,850 $ 9,113 $ 62,083 $ 131,046 $ 12,416,941 $ 12,547,987 (in thousands) 30-89 Days Past Due ≥ 90 Days Past Due and Still Accruing Non- Accrual Total Past Due (1)(2) Current (Discount)/ Premium Total Loans Acquired Loans December 31, 2017 Commercial real estate $ 34,928 $ 63,092 $ 3,975 $ 101,995 $ 3,657,152 $ (192,066 ) $ 3,567,081 Commercial and industrial 3,187 6,452 5,663 15,302 698,265 (38,147 ) 675,420 Total commercial loans 38,115 69,544 9,638 117,297 4,355,417 (230,213 ) 4,242,501 Direct installment 5,267 2,013 — 7,280 141,386 1,156 149,822 Residential mortgages 17,191 15,139 — 32,330 675,499 (41,364 ) 666,465 Indirect installment — 1 — 1 10 154 165 Consumer lines of credit 6,353 3,253 1,353 10,959 596,298 (12,934 ) 594,323 Total consumer loans 28,811 20,406 1,353 50,570 1,413,193 (52,988 ) 1,410,775 Total acquired loans $ 66,926 $ 89,950 $ 10,991 $ 167,867 $ 5,768,610 $ (283,201 ) $ 5,653,276 December 31, 2016 Commercial real estate $ 9,501 $ 23,890 $ 949 $ 34,340 $ 1,384,752 $ (79,747 ) $ 1,339,345 Commercial and industrial 1,789 2,942 2,111 6,842 353,494 (29,441 ) 330,895 Total commercial loans 11,290 26,832 3,060 41,182 1,738,246 (109,188 ) 1,670,240 Direct installment 2,317 1,344 — 3,661 73,479 2,002 79,142 Residential mortgages 8,428 10,816 — 19,244 416,561 (38,007 ) 397,798 Indirect installment 19 4 — 23 96 84 203 Consumer lines of credit 2,156 1,528 336 4,020 201,958 (4,405 ) 201,573 Total consumer loans 12,920 13,692 336 26,948 692,094 (40,326 ) 678,716 Total acquired loans $ 24,210 $ 40,524 $ 3,396 $ 68,130 $ 2,430,340 $ (149,514 ) $ 2,348,956 (1) Past due information for acquired loans is based on the contractual balance outstanding at December 31, 2017 and 2016 . (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of expected cash flows on such loans. In these instances, we do not consider acquired contractually delinquent loans to be non-accrual or non-performing and continue to recognize interest income on these loans using the accretion method. Acquired loans are considered non-accrual or non-performing when, due to credit deterioration or other factors, we determine we are no longer able to reasonably estimate the timing and amount of expected cash flows on such loans. We do not recognize interest income on acquired loans considered non-accrual or non-performing. We utilize the following categories to monitor credit quality within our commercial loan and lease portfolio: Rating Category Definition Pass in general, the condition of the borrower and the performance of the loan is satisfactory or better Special Mention in general, the condition of the borrower has deteriorated, requiring an increased level of monitoring Substandard in general, the condition of the borrower has significantly deteriorated and the performance of the loan could further deteriorate if deficiencies are not corrected Doubtful in general, the condition of the borrower has significantly deteriorated and the collection in full of both principal and interest is highly questionable or improbable The use of these internally assigned credit quality categories within the commercial loan and lease portfolio permits management’s use of transition matrices to estimate a quantitative portion of credit risk. Our internal credit risk grading system is based on past experiences with similarly graded loans and leases and conforms with regulatory categories. In general, loan and lease risk ratings within each category are reviewed on an ongoing basis according to our policy for each class of loans and leases. Each quarter, management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the commercial loan and lease portfolio. Loans and leases within the Pass credit category or that migrate toward the Pass credit category generally have a lower risk of loss compared to loans and leases that migrate toward the Substandard or Doubtful credit categories. Accordingly, management applies higher risk factors to Substandard and Doubtful credit categories. The following tables present a summary of our commercial loans and leases by credit quality category segregated by loans and leases originated and loans acquired: Commercial Loan and Lease Credit Quality Categories (in thousands) Pass Special Mention Substandard Doubtful Total Originated Loans and Leases December 31, 2017 Commercial real estate $ 4,922,872 $ 152,744 $ 98,728 $ 439 $ 5,174,783 Commercial and industrial 3,266,966 132,975 92,091 3,215 3,495,247 Commercial leases 260,235 4,425 2,060 — 266,720 Other 15,866 43 1,154 — 17,063 Total originated commercial loans and leases $ 8,465,939 $ 290,187 $ 194,033 $ 3,654 $ 8,953,813 December 31, 2016 Commercial real estate $ 3,895,764 $ 130,452 $ 69,588 $ 13 $ 4,095,817 Commercial and industrial 2,475,955 104,652 128,089 3,190 2,711,886 Commercial leases 188,662 3,789 4,185 — 196,636 Other 34,531 264 1,083 — 35,878 Total originated commercial loans and leases $ 6,594,912 $ 239,157 $ 202,945 $ 3,203 $ 7,040,217 Acquired Loans December 31, 2017 Commercial real estate $ 3,102,788 $ 250,987 $ 213,089 $ 217 $ 3,567,081 Commercial and industrial 603,611 26,059 45,661 89 675,420 Total acquired commercial loans $ 3,706,399 $ 277,046 $ 258,750 $ 306 $ 4,242,501 December 31, 2016 Commercial real estate $ 1,144,676 $ 85,894 $ 108,128 $ 647 $ 1,339,345 Commercial and industrial 274,819 20,593 34,967 516 330,895 Total acquired commercial loans $ 1,419,495 $ 106,487 $ 143,095 $ 1,163 $ 1,670,240 Credit quality information for acquired loans is based on the contractual balance outstanding at December 31, 2017 and 2016 . We use delinquency transition matrices within the consumer and other loan classes to enable management to estimate a quantitative portion of credit risk. Each month, management analyzes payment and volume activity, FICO scores and other external factors such as unemployment, to determine how consumer loans are performing. Following is a table showing consumer loans by payment status: Consumer Loan Credit Quality by Payment Status (in thousands) Performing Non-Performing Total Originated loans December 31, 2017 Direct installment $ 1,739,060 $ 16,653 $ 1,755,713 Residential mortgages 2,019,816 16,410 2,036,226 Indirect installment 1,445,833 2,435 1,448,268 Consumer lines of credit 1,147,576 3,894 1,151,470 Total originated consumer loans $ 6,352,285 $ 39,392 $ 6,391,677 December 31, 2016 Direct installment $ 1,750,305 $ 14,952 $ 1,765,257 Residential mortgages 1,433,409 13,367 1,446,776 Indirect installment 1,193,930 2,180 1,196,110 Consumer lines of credit 1,096,642 2,985 1,099,627 Total originated consumer loans $ 5,474,286 $ 33,484 $ 5,507,770 Acquired loans December 31, 2017 Direct installment $ 149,751 $ 71 $ 149,822 Residential mortgages 666,465 — 666,465 Indirect installment 165 — 165 Consumer lines of credit 592,384 1,939 594,323 Total acquired consumer loans $ 1,408,765 $ 2,010 $ 1,410,775 December 31, 2016 Direct installment $ 79,142 $ — $ 79,142 Residential mortgages 397,798 — 397,798 Indirect installment 203 — 203 Consumer lines of credit 201,061 512 201,573 Total acquired consumer loans $ 678,204 $ 512 $ 678,716 Loans and leases are designated as impaired when, in the opinion of management, based on current information and events, the collection of principal and interest in accordance with the loan and lease contract is doubtful. Typically, we do not consider loans and leases for impairment unless a sustained period of delinquency (i.e., 90 -plus days) is noted or there are subsequent events that impact repayment probability (i.e., negative financial trends, bankruptcy filings, imminent foreclosure proceedings, etc.). Impairment is evaluated in the aggregate for consumer installment loans, residential mortgages, consumer lines of credit and commercial loan and lease relationships less than $500,000 based on loan and lease segment loss given default. For commercial loan and lease relationships greater than or equal to $500,000 , a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using a market interest rate or at the fair value of collateral if repayment is expected solely from the collateral. Consistent with our existing method of income recognition for loans and leases, interest income on impaired loans, except those classified as non-accrual, is recognized using the accrual method. Impaired loans, or portions thereof, are charged off when deemed uncollectible. Following is a summary of information pertaining to originated loans and leases considered to be impaired, by class of loan and lease: (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Specific Reserve Recorded Investment With Specific Reserve Total Recorded Investment Specific Reserve Average Recorded Investment At or for the Year Ended Commercial real estate $ 27,718 $ 21,748 $ 2,906 $ 24,654 $ 439 $ 24,413 Commercial and industrial 29,307 11,595 4,457 16,052 3,215 23,907 Commercial leases 1,574 1,574 — 1,574 — 1,386 Other — — — — — — Total commercial loans and leases 58,599 34,917 7,363 42,280 3,654 49,706 Direct installment 19,375 16,653 — 16,653 — 16,852 Residential mortgages 17,754 16,410 — 16,410 — 15,984 Indirect installment 5,709 2,435 — 2,435 — 2,279 Consumer lines of credit 5,039 3,894 — 3,894 — 3,815 Total consumer loans 47,877 39,392 — 39,392 — 38,930 Total $ 106,476 $ 74,309 $ 7,363 $ 81,672 $ 3,654 $ 88,636 At or for the Year Ended Commercial real estate $ 23,771 $ 19,699 $ 464 $ 20,163 $ 13 $ 19,217 Commercial and industrial 25,719 14,781 8,996 23,777 3,190 29,730 Commercial leases 3,429 3,429 — 3,429 — 3,394 Other 1,000 1,000 — 1,000 — 1,000 Total commercial loans and leases 53,919 38,909 9,460 48,369 3,203 53,341 Direct installment 16,440 14,952 — 14,952 — 14,997 Residential mortgages 14,090 13,367 — 13,367 — 13,200 Indirect installment 5,172 2,180 — 2,180 — 2,037 Consumer lines of credit 3,858 2,985 — 2,985 — 2,813 Total consumer loans 39,560 33,484 — 33,484 — 33,047 Total $ 93,479 $ 72,393 $ 9,460 $ 81,853 $ 3,203 $ 86,388 Interest income continued to accrue on certain impaired loans and totaled approximately $6.1 million , $4.6 million and $4.1 million during 2017 , 2016 and 2015 , respectively. The above tables do not reflect the additional allowance for credit losses relating to acquired loans. Following is a summary of the allowance for credit losses required for acquired loans due to changes in credit quality subsequent to the acquisition date: December 31 2017 2016 (in thousands) Commercial real estate $ 4,976 $ 4,538 Commercial and industrial (415 ) 500 Total commercial loans 4,561 5,038 Direct installment 1,553 1,005 Residential mortgages 484 632 Indirect installment 177 221 Consumer lines of credit (77 ) 372 Total consumer loans 2,137 2,230 Total allowance on acquired loans $ 6,698 $ 7,268 Troubled Debt Restructurings TDRs are loans whose contractual terms have been modified in a manner that grants a concession to a borrower experiencing financial difficulties. TDRs typically result from loss mitigation activities and could include the extension of a maturity date, interest rate reduction, principal forgiveness, deferral or decrease in payments for a period of time and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of collateral. Following is a summary of the composition of total TDRs: (in thousands) Originated Acquired Total December 31, 2017 Accruing: Performing $ 19,538 $ 266 $ 19,804 Non-performing 20,173 3,308 23,481 Non-accrual 10,472 234 10,706 Total TDRs $ 50,183 $ 3,808 $ 53,991 December 31, 2016 Accruing: Performing $ 17,105 $ 365 $ 17,470 Non-performing 20,252 176 20,428 Non-accrual 9,035 — 9,035 Total TDRs $ 46,392 $ 541 $ 46,933 TDRs that are accruing and performing include loans that met the criteria for non-accrual of interest prior to restructuring for which we can reasonably estimate the timing and amount of the expected cash flows on such loans and for which we expect to fully collect the new carrying value of the loans. During 2017 , we returned to performing status $3.9 million in restructured residential mortgage loans that have consistently met their modified obligations for more than six months. TDRs that are accruing and non-performing are comprised of consumer loans that have not demonstrated a consistent repayment pattern on the modified terms for more than nine months, however it is expected that we will collect all future principal and interest payments. TDRs that are on non-accrual are not placed on accruing status until all delinquent principal and interest have been paid and the ultimate collectability of the remaining principal and interest is reasonably assured. Some loan modifications classified as TDRs may not ultimately result in the full collection of principal and interest, as modified, and may result in potential incremental losses which are factored into the allowance for credit losses. Excluding purchased impaired loans, commercial loans over $500,000 whose terms have been modified in a TDR are generally placed on non-accrual, individually analyzed and measured for estimated impairment based on the fair value of the underlying collateral. Our allowance for credit losses included specific reserves for commercial TDRs and pooled reserves for individual loans under $500,000 based on loan segment loss given default. Upon default, the amount of the recorded investment in the TDR in excess of the fair value of the collateral, less estimated selling costs, is generally considered a confirmed loss and is charged-off against the allowance for credit losses. The reserve for commercial TDRs included in the allowance for credit losses is presented in the following table: December 31 2017 2016 (in thousands) Specific reserves for commercial TDRs $ 95 $ 291 Pooled reserves for individual commercial loans under $500 469 276 All other classes of loans, which are primarily secured by residential properties whose terms have been modified in a TDR are pooled and measured for estimated impairment based on the expected net present value of the estimated future cash flows of the pool. Our allowance for credit losses included pooled reserves for these classes of loans of $4.0 million and $3.7 million at December 31, 2017 and 2016 , respectively. Upon default of an individual loan, our charge-off policy is followed accordingly for that class of loan. The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of loans, by class, that have been restructured: Year Ended December 31 2017 2016 (dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate 3 $ 1,608 $ 1,683 4 $ 778 $ 737 Commercial and industrial 3 3,568 3,091 3 1,727 1,504 Total commercial loans 6 5,176 4,774 7 2,505 2,241 Direct installment 641 5,107 4,500 527 6,090 5,566 Residential mortgages 43 2,251 2,095 45 2,155 2,081 Indirect installment 18 48 43 19 51 51 Consumer lines of credit 64 1,372 1,158 81 1,419 1,283 Total consumer loans 766 8,778 7,796 672 9,715 8,981 Total 772 $ 13,954 $ 12,570 679 $ 12,220 $ 11,222 Following is a summary of originated TDRs, by class, for which there was a payment default, excluding loans that were either charged-off or cured by period end. Default occurs when a loan is 90 days or more past due and is within 12 months of restructuring. Year Ended December 31 2017 2016 (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate 1 $ 463 — $ — Commercial and industrial — — — — Total commercial loans 1 463 — — Direct installment 131 358 90 313 Residential mortgages 6 314 7 285 Indirect installment 17 28 18 35 Consumer lines of credit 5 170 3 394 Total consumer loans 159 870 118 1,027 Total 160 $ 1,333 118 $ 1,027 |
Allowance for Credit Losses
Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Allowance for Credit Losses | ALLOWANCE FOR CREDIT LOSSES Following is a summary of changes in the allowance for credit losses, by loan and lease class: (in thousands) Balance at Beginning of Year Charge- Offs Recoveries Net Charge- Offs Provision for Credit Losses Balance at End of Year Year Ended December 31, 2017 Commercial real estate $ 46,635 $ (2,178 ) $ 2,311 $ 133 $ 3,513 $ 50,281 Commercial and industrial 47,991 (26,188 ) 1,275 (24,913 ) 28,885 51,963 Commercial leases 3,280 (1,017 ) 6 (1,011 ) 3,377 5,646 Other 1,392 (4,099 ) 1,255 (2,844 ) 3,295 1,843 Total commercial loans and leases 99,298 (33,482 ) 4,847 (28,635 ) 39,070 109,733 Direct installment 21,391 (12,401 ) 2,015 (10,386 ) 9,931 20,936 Residential mortgages 10,082 (595 ) 184 (411 ) 5,836 15,507 Indirect installment 10,564 (9,201 ) 3,708 (5,493 ) 6,896 11,967 Consumer lines of credit 9,456 (2,204 ) 461 (1,743 ) 2,826 10,539 Total consumer loans 51,493 (24,401 ) 6,368 (18,033 ) 25,489 58,949 Total allowance on originated loans 150,791 (57,883 ) 11,215 (46,668 ) 64,559 168,682 Purchased credit-impaired loans 572 (469 ) 36 (433 ) 496 635 Other acquired loans 6,696 (1,233 ) 4,582 3,349 (3,982 ) 6,063 Total allowance on acquired loans 7,268 (1,702 ) 4,618 2,916 (3,486 ) 6,698 Total allowance $ 158,059 $ (59,585 ) $ 15,833 $ (43,752 ) $ 61,073 $ 175,380 Year Ended December 31, 2016 Commercial real estate $ 41,741 $ (6,657 ) $ 3,669 $ (2,988 ) $ 7,882 $ 46,635 Commercial and industrial 41,023 (19,584 ) 2,508 (17,076 ) 24,044 47,991 Commercial leases 2,541 (962 ) 66 (896 ) 1,635 3,280 Other 1,013 (2,729 ) 131 (2,598 ) 2,977 1,392 Total commercial loans and leases 86,318 (29,932 ) 6,374 (23,558 ) 36,538 99,298 Direct installment 21,587 (10,153 ) 1,822 (8,331 ) 8,135 21,391 Residential mortgages 7,909 (441 ) 74 (367 ) 2,540 10,082 Indirect installment 9,889 (7,855 ) 2,015 (5,840 ) 6,515 10,564 Consumer lines of credit 9,582 (2,085 ) 265 (1,820 ) 1,694 9,456 Total consumer loans 48,967 (20,534 ) 4,176 (16,358 ) 18,884 51,493 Total allowance on originated loans 135,285 (50,466 ) 10,550 (39,916 ) 55,422 150,791 Purchased credit-impaired loans 834 (399 ) 42 (357 ) 95 572 Other acquired loans 5,893 (649 ) 1,217 568 235 6,696 Total allowance on acquired loans 6,727 (1,048 ) 1,259 211 330 7,268 Total allowance $ 142,012 $ (51,514 ) $ 11,809 $ (39,705 ) $ 55,752 $ 158,059 Year Ended December 31, 2015 Commercial real estate $ 37,588 $ (4,443 ) $ 1,117 $ (3,326 ) $ 7,479 $ 41,741 Commercial and industrial 32,645 (3,562 ) 1,773 (1,789 ) 10,167 41,023 Commercial leases 2,398 (544 ) 101 (443 ) 586 2,541 Other 759 (1,691 ) 55 (1,636 ) 1,890 1,013 Total commercial loans and leases 73,390 (10,240 ) 3,046 (7,194 ) 20,122 86,318 Direct installment 20,538 (10,844 ) 1,527 (9,317 ) 10,366 21,587 Residential mortgages 8,024 (1,010 ) 85 (925 ) 810 7,909 Indirect installment 7,504 (6,427 ) 1,190 (5,237 ) 7,622 9,889 Consumer lines of credit 8,496 (1,653 ) 175 (1,478 ) 2,564 9,582 Total consumer loans 44,562 (19,934 ) 2,977 (16,957 ) 21,362 48,967 Total allowance on originated loans 117,952 (30,174 ) 6,023 (24,151 ) 41,484 135,285 Purchased credit-impaired loans 660 (64 ) 19 (45 ) 219 834 Other acquired loans 7,314 (830 ) 671 (159 ) (1,262 ) 5,893 Total allowance on acquired loans 7,974 (894 ) 690 (204 ) (1,043 ) 6,727 Total allowance $ 125,926 $ (31,068 ) $ 6,713 $ (24,355 ) $ 40,441 $ 142,012 Following is a summary of the individual and collective originated allowance for credit losses and corresponding originated loan and lease balances by class: Originated Allowance Originated Loans and Leases Outstanding (in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Loans and Leases Individually Evaluated for Impairment Collectively Evaluated for Impairment December 31, 2017 Commercial real estate $ 439 $ 49,842 $ 5,174,783 $ 11,114 $ 5,163,669 Commercial and industrial 3,215 48,748 3,495,247 9,872 3,485,375 Commercial leases — 5,646 266,720 — 266,720 Other — 1,843 17,063 — 17,063 Total commercial loans and leases 3,654 106,079 8,953,813 20,986 8,932,827 Direct installment — 20,936 1,755,713 — 1,755,713 Residential mortgages — 15,507 2,036,226 — 2,036,226 Indirect installment — 11,967 1,448,268 — 1,448,268 Consumer lines of credit — 10,539 1,151,470 — 1,151,470 Total consumer loans — 58,949 6,391,677 — 6,391,677 Total $ 3,654 $ 165,028 $ 15,345,490 $ 20,986 $ 15,324,504 December 31, 2016 Commercial real estate $ 13 $ 46,622 $ 4,095,817 $ 12,973 $ 4,082,844 Commercial and industrial 3,190 44,801 2,711,886 21,746 2,690,140 Commercial leases — 3,280 196,636 — 196,636 Other — 1,392 35,878 — 35,878 Total commercial loans and leases 3,203 96,095 7,040,217 34,719 7,005,498 Direct installment — 21,391 1,765,257 — 1,765,257 Residential mortgages — 10,082 1,446,776 — 1,446,776 Indirect installment — 10,564 1,196,110 — 1,196,110 Consumer lines of credit — 9,456 1,099,627 — 1,099,627 Total consumer loans — 51,493 5,507,770 — 5,507,770 Total $ 3,203 $ 147,588 $ 12,547,987 $ 34,719 $ 12,513,268 The above table excludes acquired loans that were pooled into groups of loans for evaluating impairment. |
Loan Servicing
Loan Servicing | 12 Months Ended |
Dec. 31, 2017 | |
Transfers and Servicing [Abstract] | |
Loan Servicing | LOAN SERVICING Mortgage Loan Servicing We retain the servicing rights on certain mortgage loans sold. The unpaid principal balance of mortgage loans serviced for others, as of December 31, 2017 and 2016 , is listed below: December 31 2017 2016 (in thousands) Mortgage loans sold with servicing retained $ 3,256,548 $ 1,800,002 The following table summarizes activity relating to mortgage loans sold with servicing retained: Year Ended December 31 2017 2016 2015 (in thousands) Mortgage loans sold with servicing retained $ 1,769,129 $ 672,536 $ 431,617 Pretax gains resulting from above loan sales (1) 21,683 12,519 10,681 Mortgage servicing fees (1) 7,509 3,803 3,056 (1) Recorded in mortgage banking operations. Following is a summary of the MSR activity: Year Ended December 31 2017 2016 2015 (in thousands) Balance at beginning of period $ 13,521 $ 8,921 $ 6,859 Fair value of MSRs acquired 8,553 — — Additions 10,830 7,148 3,370 Payoffs and curtailments (1,491 ) (780 ) (694 ) Amortization (2,360 ) (1,768 ) (614 ) Balance at end of period $ 29,053 $ 13,521 $ 8,921 Fair value, beginning of period $ 17,546 $ 11,503 $ 8,684 Fair value, end of period 32,419 17,546 11,503 We did not have a valuation allowance for MSRs for any of the periods presented in the table above. The fair value of MSRs is highly sensitive to changes in assumptions and is determined by estimating the present value of the asset’s future cash flows utilizing market-based prepayment rates, discount rates and other assumptions validated through comparison to trade information, industry surveys and with the use of independent third party appraisals. Changes in prepayment speed assumptions have the most significant impact on the fair value of MSRs. Generally, as interest rates decline, mortgage loan prepayments accelerate due to increased refinance activity, which results in a decrease in the fair value of the MSR. Measurement of fair value is limited to the conditions existing and the assumptions utilized as of a particular point in time, and those assumptions may not be appropriate if they are applied at a different time. Following is a summary of the sensitivity of the fair value of MSRs to changes in key assumptions: December 31 2017 2016 (dollars in thousands) Weighted average life (months) 80.4 79.0 Constant prepayment rate (annualized) 9.9 % 9.9 % Discount rate 9.9 % 9.8 % Effect on fair value due to change in interest rates: +0.25% $ 1,737 $ 692 +0.50% 3,220 1,288 -0.25% (1,937 ) (789 ) -0.50% (4,007 ) (1,680 ) The sensitivity calculations above are hypothetical and should not be considered to be predictive of future performance. Changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the changes in assumptions to fair value may not be linear. Also, in this table, the effects of an adverse variation in a particular assumption on the fair value of the MSRs is calculated without changing any other assumptions, while in reality, changes in one factor may result in changing another, which may magnify or contract the effect of the change. SBA-Guaranteed Loan Servicing Beginning in March 2017, as a result of the YDKN acquisition, we retain the servicing rights on SBA-guaranteed loans sold to investors. The standard sale structure under the SBA Secondary Participation Guaranty Agreement provides for us to retain a portion of the cash flow from the interest payment received on the loan, which is commonly known as a servicing spread. The unpaid principal balance of SBA-guaranteed loans serviced for investors, as of December 31, 2017 , was as follows: December 31 2017 (in thousands) SBA loans sold to investors with servicing retained $ 305,977 The following table summarizes activity relating to SBA loans sold with servicing retained: Year Ended December 31 2017 (in thousands) SBA loans sold with servicing retained $ 53,938 Pretax gains resulting from above loan sales (1) 2,247 SBA servicing fees (1) 2,195 (1) Recorded in non-interest income. Following is a summary of the activity in SBA servicing assets: Year Ended December 31 2017 (in thousands) Balance at beginning of period $ — Fair value of servicing rights acquired 5,399 Additions 959 Impairment (charge) / recovery (281 ) Amortization (1,019 ) Balance at end of period $ 5,058 Fair value, beginning of period $ — Fair value, end of period 5,058 Following is a summary of key assumptions and the sensitivity of the SBA loan servicing rights to changes in these assumptions: December 31 2017 Decline in fair value due to (dollars in thousands) Actual 10% adverse change 20% adverse change 1% adverse change 2% adverse change Weighted-average life (months) 63.5 Constant prepayment rate 9.29 % $ (145 ) $ (284 ) $ — $ — Discount rate 14.87 — — (147 ) (286 ) The fair value of the SBA servicing assets is compared to the amortized basis when certain triggering events occur. If the amortized basis exceeds the fair value, the asset is considered impaired and is written down to fair value through a valuation allowance on the asset and a charge against SBA income. We had a $0.3 million valuation allowance for SBA servicing assets as of December 31, 2017 . |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | PREMISES AND EQUIPMENT Following is a summary of premises and equipment: December 31 2017 2016 (in thousands) Land $ 67,424 $ 45,640 Premises 239,807 186,784 Equipment 212,587 174,325 519,818 406,749 Accumulated depreciation (183,278 ) (162,793 ) Total premises and equipment, net $ 336,540 $ 243,956 Depreciation expense for premises and equipment is presented in the following table: December 31 2017 2016 2015 (in thousands) Depreciation expense for premises and equipment $ 34,322 $ 23,355 $ 20,009 We have operating leases extending to 2046 for certain land, office locations and equipment, many of which have renewal options. Leases that expire are generally expected to be replaced by other leases. Lease costs are expensed in accordance with ASC 840, Leases , taking into account escalation clauses. Rental expense is presented in the following table: December 31 2017 2016 2015 (in thousands) Rental expense $ 29,148 $ 21,015 $ 16,193 Following is a summary of future minimum lease payments for years following December 31, 2017 : (in thousands) 2018 $ 26,949 2019 22,995 2020 18,587 2021 15,358 2022 11,855 Later years 49,342 Total minimum rental commitment under leases $ 145,086 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS The following table shows a rollforward of goodwill by line of business: (in thousands) Community Banking Wealth Manage- ment Insurance Consumer Finance Total Balance at January 1, 2016 $ 812,399 $ 8,020 $ 10,858 $ 1,809 $ 833,086 Goodwill (deductions) additions 199,200 — (157 ) — 199,043 Balance at December 31, 2016 1,011,599 8,020 10,701 1,809 1,032,129 Goodwill (deductions) additions 1,216,908 151 — — 1,217,059 Balance at December 31, 2017 $ 2,228,507 $ 8,171 $ 10,701 $ 1,809 $ 2,249,188 We recorded goodwill during 2016 and 2017 as a result of the purchase accounting adjustments relating to the various acquisitions described in Note 3, “Mergers and Acquisitions.” The following table shows a summary of core deposit intangibles and customer renewal lists: (in thousands) Core Deposit Intangibles Customer Renewal Lists Total December 31, 2017 Gross carrying amount $ 195,582 $ 12,442 $ 208,024 Accumulated amortization (106,938 ) (9,011 ) (115,949 ) Net carrying amount $ 88,644 $ 3,431 $ 92,075 December 31, 2016 Gross carrying amount $ 139,886 $ 12,352 $ 152,238 Accumulated amortization (89,888 ) (8,544 ) (98,432 ) Net carrying amount $ 49,998 $ 3,808 $ 53,806 Core deposit intangibles are being amortized primarily over 10 years using accelerated methods. Customer renewal lists are being amortized over their estimated useful lives, which range from eight to thirteen years. The following table summarizes amortization expense recognized: December 31 2017 2016 2015 (in thousands) Amortization expense $ 17,517 $ 11,210 $ 8,305 Following is a summary of the expected amortization expense on finite-lived intangible assets, assuming no new additions, for each of the five years following December 31, 2017 : (in thousands) 2018 $ 15,633 2019 13,532 2020 12,503 2021 11,339 2022 9,637 Total $ 62,644 Goodwill and other intangible assets are tested annually for impairment, and more frequently if events or changes in circumstances indicate the carrying value may not be recoverable. We completed this test in 2017 and 2016 and determined that our intangible assets are not impaired. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Deposits [Abstract] | |
Deposits | DEPOSITS Following is a summary of deposits: December 31 2017 2016 (in thousands) Non-interest-bearing demand $ 5,720,030 $ 4,205,337 Interest-bearing demand 9,571,038 6,931,381 Savings 2,488,178 2,352,434 Certificates and other time deposits: Less than $100,000 2,461,014 1,680,068 $100,000 through $250,000 1,326,562 642,509 Greater than $250,000 832,903 253,918 Total deposits $ 22,399,725 $ 16,065,647 Following is a summary of the scheduled maturities of certificates and other time deposits for the years following December 31, 2017 : (in thousands) 2018 $ 2,778,467 2019 1,026,222 2020 351,431 2021 194,678 2022 118,891 Later years 150,790 Total $ 4,620,479 |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | SHORT-TERM BORROWINGS Following is a summary of short-term borrowings: December 31 2017 2016 (in thousands) Securities sold under repurchase agreements $ 256,017 $ 313,062 Federal Home Loan Bank advances 2,285,000 1,025,000 Federal funds purchased 1,000,000 1,037,000 Subordinated notes 137,320 127,948 Total short-term borrowings $ 3,678,337 $ 2,503,010 Borrowings with original maturities of one year or less are classified as short-term. Securities sold under repurchase agreements are comprised of customer repurchase agreements, which are sweep accounts with next-day maturities utilized by larger commercial customers to earn interest on their funds. Securities are pledged to these customers in an amount equal to the outstanding balance. The following represents weighted average interest rates on short-term borrowings: December 31 2017 2016 2015 Year-to-date average 1.16 % 0.61 % 0.42 % Period-end 1.44 % 0.69 % 0.48 % |
Long-Term Borrowings
Long-Term Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Long-Term Borrowings | LONG-TERM BORROWINGS Following is a summary of long-term borrowings: December 31 2017 2016 (in thousands) Federal Home Loan Bank advances $ 310,061 $ 305,110 Subordinated notes 87,614 87,147 Junior subordinated debt 110,347 48,600 Other subordinated debt 160,151 98,637 Total long-term borrowings $ 668,173 $ 539,494 Scheduled annual maturities for the long-term borrowings for the years following December 31, 2017 are as follows: (in thousands) 2018 $ 69,684 2019 151,558 2020 105,610 2021 52,189 2022 6,072 Later years 283,060 Total $ 668,173 Federal Home Loan Bank advances Our banking affiliate has available credit with the FHLB of $7.9 billion of which $2.6 billion was utilized as of December 31, 2017 . These advances are secured by loans collateralized by residential mortgages, HELOCs, commercial real estate and FHLB stock and are scheduled to mature in various amounts periodically through the year 2021 . Effective interest rates paid on the long-term advances ranged from 1.11% to 4.19% for the year ended December 31, 2017 and 0.95% to 4.19% for the year ended December 31, 2016 . Subordinated notes Subordinated notes are unsecured and subordinated to our other indebtedness. The subordinated notes mature in various amounts periodically through the year 2027. At December 31, 2017 , all of the subordinated notes are redeemable by the holders prior to maturity at a discount equal to three to 12 months of interest, depending on the term of the note. We may require the holder to give 30 days prior written notice. No sinking fund is required and none has been established to retire the notes. The weighted average interest rate on the subordinated notes are presented in the following table: December 31 2017 2016 2015 Subordinated notes weighted average interest rate 2.85 % 2.71 % 2.73 % Junior subordinated debt The junior subordinated debt is comprised of the debt securities issued by FNB in relation to our six unconsolidated subsidiary trusts (collectively, the Trusts), which are unconsolidated variable interest entities. One hundred percent of the common equity of each Trust is owned by FNB. The Trusts were formed for the purpose of issuing FNB-obligated mandatorily redeemable capital securities, or trust preferred securities (TPS) to third-party investors. The proceeds from the sale of TPS and the issuance of common equity by the Trusts were invested in junior subordinated debt securities issued by FNB, which are the sole assets of each Trust. Since third-party investors are the primary beneficiaries, the Trusts are not consolidated in our financial statements. The Trusts pay dividends on the TPS at the same rate as the distributions paid by us on the junior subordinated debt held by the Trusts. F.N.B. Statutory Trust II was formed by us, and the other five statutory trusts were assumed through acquisitions. The acquired statutory trusts were adjusted to fair value in conjunction with the various acquisitions. During 2016, we redeemed $10.0 million of the TPS issued by Omega Financial Capital Trust I. We record the distributions on the junior subordinated debt issued to the Trusts as interest expense. The TPS are subject to mandatory redemption, in whole or in part, upon repayment of the junior subordinated debt. The TPS are eligible for redemption, at any time, at our discretion. Under capital guidelines, effective January 1, 2016, the junior subordinated debt, net of our investments in the Trusts, is included in tier 2 capital. We have entered into agreements which, when taken collectively, fully and unconditionally guarantee the obligations under the TPS subject to the terms of each of the guarantees. The following table provides information relating to the Trusts as of December 31, 2017 : (dollars in thousands) Trust Preferred Securities Common Securities Junior Subordinated Debt Stated Maturity Date Interest Rate Rate Reset Factor F.N.B. Statutory Trust II $ 21,500 $ 665 $ 22,165 6/15/2036 3.24 % LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,473 10/18/2034 3.54 % LIBOR + 219 bps Yadkin Valley Statutory Trust I 25,000 774 20,863 12/15/2037 2.91 % LIBOR + 132 bps FNB Financial Services Capital Trust I 25,000 774 21,804 9/30/2035 2.80 % LIBOR + 146 bps American Community Capital Trust II 10,000 310 10,448 12/15/2033 4.14 % LIBOR + 280 bps Crescent Financial Capital Trust I 8,000 248 8,594 10/7/2033 4.46 % LIBOR + 310 bps Total $ 115,500 $ 3,885 $ 110,347 Other subordinated debt Subordinated Debt Due 2025. In an October 2015 debt offering, we issued $100.0 million aggregate principal amount of 4.875% subordinated notes due in October 2025. The net proceeds of the debt offering after deducting underwriting discounts and commissions and offering costs were $98.4 million , and as of December 31, 2017 , the carrying value was $98.8 million . These subordinated notes are eligible for treatment as tier 2 capital for regulatory capital purposes. Subordinated Debt Due 2024. In conjunction with the YDKN acquisition, we assumed $15.5 million aggregate principal amount of 7.25% subordinated notes due in March 2024. These subordinated notes, which are eligible for treatment as tier 2 capital for regulatory capital purposes, were adjusted to fair value at the time of acquisition, and as of December 31, 2017 , the carrying value was $16.8 million . Subordinated Debt Due 2023. In conjunction with the YDKN acquisition, we assumed $38.1 million aggregate principal amount of 7.625% subordinated notes due in August 2023. These subordinated notes, which are eligible for treatment as tier 2 capital for regulatory capital purposes, were adjusted to fair value at the time of acquisition, and as of December 31, 2017 , the carrying value was $44.5 million . Additionally, on May 1, 2017, we repaid $7.5 million in other subordinated debt that we acquired from YDKN. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate risk, primarily by managing the amount, source, and duration of our assets and liabilities, and through the use of derivative instruments. Derivative instruments are used to reduce the effects that changes in interest rates may have on net income and cash flows. We also use derivative instruments to facilitate transactions on behalf of our customers. All derivatives are carried on the consolidated balance sheets at fair value and do not take into account the effects of master netting arrangements we have with other financial institutions. Credit risk is included in the determination of the estimated fair value of derivatives. Derivative assets are reported in the consolidated balance sheets in other assets and derivative liabilities are reported in the consolidated balance sheets in other liabilities. Changes in fair value are recognized in earnings except for certain changes related to derivative instruments designated as part of a cash flow hedging relationship. The following table presents notional amounts and gross fair values of our derivative assets and derivative liabilities which are not offset in the balance sheet. December 31 2017 2016 Notional Amount Fair Value Notional Amount Fair Value (in thousands) Asset Liability Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 705,000 $ 228 $ 1,982 $ 450,000 $ 9,256 $ 1,171 Interest rate swaps – not designated 2,245,442 1,169 11,599 1,689,157 12,720 34,046 Equity contracts – not designated 1,180 51 — 1,180 61 — Total subject to master netting arrangements 2,951,622 1,448 13,581 2,140,337 22,037 35,217 Not subject to master netting arrangements: Interest rate swaps – not designated 2,245,442 27,233 15,303 1,689,157 32,170 11,866 Interest rate lock commitments – not designated 88,107 1,594 5 — — — Forward delivery commitments – not designated 106,572 233 148 — — — Credit risk contracts – not designated 235,196 39 109 174,538 13 123 Equity contracts – not designated 1,180 — 51 1,180 — 61 Total not subject to master netting arrangements 2,676,497 29,099 15,616 1,864,875 32,183 12,050 Total $ 5,628,119 $ 30,547 $ 29,197 $ 4,005,212 $ 54,220 $ 47,267 On January 3, 2017, the Chicago Mercantile Exchange (CME) enacted a rule change which in effect results in the legal characterization of variation margin payments for certain derivative contracts as settlement of the derivatives mark-to-market exposure and not collateral. This rule change became effective for us in the first quarter of 2017. Accordingly, we have changed our reporting of certain derivatives to record variation margin on trades cleared through CME as settled where we had previously recorded cash collateral. The daily settlement of the derivative exposure does not change or reset the contractual terms of the instrument. Derivatives Designated as Hedging Instruments under GAAP Interest Rate Contracts. We entered into interest rate derivative agreements to modify the interest rate characteristics of certain commercial loans and five of our FHLB advances from variable rate to fixed rate in order to reduce the impact of changes in future cash flows due to market interest rate changes. These agreements are designated as cash flow hedges (i.e., hedging the exposure to variability in expected future cash flows). The effective portion of the derivative’s gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings in the same line item associated with the forecasted transaction when the forecasted transaction affects earnings. The ineffective portion of the gain or loss is reported in earnings immediately. Following is a summary of key data related to interest rate contracts: December 31 2017 2016 (in thousands) Notional amount $ 705,000 $ 450,000 Fair value included in other assets 228 9,256 Fair value included in other liabilities 1,982 1,171 The following table shows amounts reclassified from accumulated other comprehensive income (AOCI): December 31 2017 2016 (in thousands) Total Net of Tax Total Net of Tax Reclassified from AOCI to interest income $ 1,446 $ 940 $ 2,659 $ 1,728 Reclassified from AOCI to interest expense 1,374 893 703 457 As of December 31, 2017 , the maximum length of time over which forecasted interest cash flows are hedged is six years. In the twelve months that follow December 31, 2017 , we expect to reclassify from the amount currently reported in AOCI net derivative gains of $1.4 million ( $0.9 million net of tax), in association with interest on the hedged loans and FHLB advances. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to December 31, 2017 . There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to these cash flow hedges. For the years ended December 31, 2017 and 2016 , there was no hedge ineffectiveness. Also, during the years ended December 31, 2017 and 2016 , there were no gains or losses from cash flow hedge derivatives reclassified to earnings because it became probable that the original forecasted transactions would not occur. Derivatives Not Designated as Hedging Instruments under GAAP Interest Rate Swaps. We enter into interest rate swap agreements to meet the financing, interest rate and equity risk management needs of qualifying commercial loan customers. These agreements provide the customer the ability to convert from variable to fixed interest rates. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. Swap derivative transactions with customers are not subject to enforceable master netting arrangements and are generally secured by rights to non-financial collateral, such as real and personal property. We enter into positions with a derivative counterparty in order to offset our exposure on the fixed components of the customer interest rate swap agreements. We seek to minimize counterparty credit risk by entering into transactions only with high-quality financial dealer institutions. These arrangements meet the definition of derivatives, but are not designated as hedging instruments under ASC 815, Derivatives and Hedging. Substantially all contracts with dealers that require central clearing (generally, transactions since June 10, 2014) are novated to a SEC registered clearing agency who becomes our counterparty. Following is a summary of key data related to interest rate swaps: December 31 2017 2016 (in thousands) Notional amount $ 4,490,884 $ 3,378,314 Fair value included in other assets 28,402 44,890 Fair value included in other liabilities 26,902 45,912 The interest rate swap agreement with the loan customer and with the counterparty is reported at fair value in other assets and other liabilities on the consolidated balance sheets with any resulting gain or loss recorded in current period earnings as other income or other expense. Interest Rate Lock Commitments . Interest rate lock commitments (IRLCs) represent an agreement to extend credit to a mortgage loan borrower, or an agreement to purchase a loan from a third-party originator, whereby the interest rate on the loan is set prior to funding. We are bound to fund the loan at a specified rate, regardless of whether interest rates have changed between the commitment date and the loan funding date, subject to the loan approval process. The borrower is not obligated to perform under the commitment. As such, outstanding IRLCs subject us to interest rate risk and related price risk during the period from the commitment to the borrower through the loan funding date, or commitment expiration. The IRLCs generally range between 30 to 90 days. The IRLCs are reported at fair value in other assets and other liabilities on the consolidated balance sheets with any resulting gain or loss recorded in current period earnings as mortgage banking operations income. Forward Delivery Commitments . Forward delivery commitments on mortgage-backed securities are used to manage the interest rate and price risk of our IRLCs and mortgage loan held for sale inventory by fixing the forward sale price that will be realized upon sale of the mortgage loans into the secondary market. Historical commitment-to-closing ratios are considered to estimate the quantity of mortgage loans that will fund within the terms of the IRLCs. The forward delivery contracts are reported at fair value in other assets and other liabilities on the consolidated balance sheets with any resulting gain or loss recorded in current period earnings as mortgage banking operations income. Credit Risk Contracts. We purchase and sell credit protection under risk participation agreements to share with other counterparties some of the credit exposure related to interest rate derivative contracts or to take on credit exposure to generate revenue. We will make/receive payments under these agreements if a customer defaults on our obligation to perform under certain derivative swap contracts. Risk participation agreements sold with notional amounts totaling $154.2 million as of December 31, 2017 have remaining terms ranging from six months to nine years. Under these agreements, our maximum exposure assuming a customer defaults on their obligation to perform under certain derivative swap contracts with third parties would be $108,000 and $123,000 at December 31, 2017 and 2016 . The fair values of risk participation agreements purchased and sold were $39,000 and $(108,000) , respectively, at December 31, 2017 and $13,000 and $(123,000) , respectively at December 31, 2016 . Counterparty Credit Risk We are party to master netting arrangements with most of our swap derivative counterparties. Collateral, usually marketable securities and/or cash, is exchanged between FNB and our counterparties, and is generally subject to thresholds and transfer minimums. For swap transactions that require central clearing, we post cash to our clearing agency. Collateral positions are valued daily, and adjustments to amounts received and pledged by us are made as appropriate to maintain proper collateralization for these transactions. Certain master netting agreements contain provisions that, if violated, could cause the counterparties to request immediate settlement or demand full collateralization under the derivative instrument. If we had breached our agreements with our derivative counterparties we would be required to settle our obligations under the agreements at the termination value and would be required to pay an additional $0.9 million and $1.1 million as of December 31, 2017 and 2016 , respectively, in excess of amounts previously posted as collateral with the respective counterparty. The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheets to the net amounts that would result in the event of offset: Amount Not Offset in the (in thousands) Net Amount Financial Cash Net December 31, 2017 Derivative Assets Interest rate contracts: Designated $ 228 $ 228 $ — $ — Not designated 1,169 1,169 — — Equity contracts – not designated 51 51 — — Total $ 1,448 $ 1,448 $ — $ — Derivative Liabilities Interest rate contracts: Designated $ 1,982 $ 1,982 $ — $ — Not designated 11,599 10,940 — 659 Total $ 13,581 $ 12,922 $ — $ 659 December 31, 2016 Derivative Assets Interest rate contracts: Designated $ 9,256 $ 843 $ 8,413 $ — Not designated 12,720 474 12,132 114 Equity contracts – not designated 61 61 — — Total $ 22,037 $ 1,378 $ 20,545 $ 114 Derivative Liabilities Interest rate contracts: Designated $ 1,171 $ 1,171 $ — $ — Not designated 34,046 15,490 17,651 905 Total $ 35,217 $ 16,661 $ 17,651 $ 905 The following table presents the effect of certain derivative financial instruments on the income statement: Year Ended December 31, (in thousands) Income Statement Location 2017 2016 Interest Rate Contracts Interest income – loans and leases $ 1,446 $ 2,659 Interest Rate Contracts Interest expense – short-term borrowings 1,374 703 Interest Rate Swaps Other income (592 ) (529 ) Credit Risk Contracts Other income 40 16 |
Commitments, Credit Risk and Co
Commitments, Credit Risk and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Credit Risk and Contingencies | COMMITMENTS, CREDIT RISK AND CONTINGENCIES We have commitments to extend credit and standby letters of credit that involve certain elements of credit risk in excess of the amount stated in the consolidated balance sheets. Our exposure to credit loss in the event of non-performance by the customer is represented by the contractual amount of those instruments. The credit risk associated with commitments to extend credit and standby letters of credit is essentially the same as that involved in extending loans and leases to customers and is subject to normal credit policies. Since many of these commitments expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. Following is a summary of off-balance sheet credit risk information: December 31 2017 2016 (in thousands) Commitments to extend credit $ 6,957,822 $ 4,486,164 Standby letters of credit 132,904 117,732 At December 31, 2017 , funding of 76.8% of the commitments to extend credit was dependent on the financial condition of the customer. We have the ability to withdraw such commitments at our discretion. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Based on management’s credit evaluation of the customer, collateral may be deemed necessary. Collateral requirements vary and may include accounts receivable, inventory, property, plant and equipment and income-producing commercial properties. Standby letters of credit are conditional commitments issued by us that may require payment at a future date. The credit risk involved in issuing letters of credit is actively monitored through review of the historical performance of our portfolios. In addition to the above commitments, subordinated notes issued by FNB Financial Services, LP, a wholly-owned finance subsidiary, are fully and unconditionally guaranteed by FNB. These subordinated notes are included in the summaries of short-term borrowings and long-term borrowings in Notes 12 and 13. Other Legal Proceedings In the ordinary course of business, we are routinely named as defendants in, or made parties to, pending and potential legal actions. Also, as regulated entities, we are subject to governmental and regulatory examinations, information-gathering requests, and may be subject to investigations and proceedings (both formal and informal). Such threatened claims, litigation, investigations, regulatory and administrative proceedings typically entail matters that are considered incidental to the normal conduct of business. Claims for significant monetary damages may be asserted in many of these types of legal actions, while claims for disgorgement, restitution, penalties and/or other remedial actions or sanctions may be sought in regulatory matters. In these instances, if we determine that we have meritorious defenses, we will engage in an aggressive defense. However, if management determines, in consultation with counsel, that settlement of a matter is in the best interest of our Company and our shareholders, we may do so. It is inherently difficult to predict the eventual outcomes of such matters given their complexity and the particular facts and circumstances at issue in each of these matters. However, on the basis of current knowledge and understanding, and advice of counsel, we do not believe that judgments, sanctions, settlements or orders, if any, that may arise from these matters (either individually or in the aggregate, after giving effect to applicable reserves and insurance coverage) will have a material adverse effect on our financial position or liquidity, although they could have a material effect on net income in a given period. In view of the inherent unpredictability of outcomes in litigation and governmental and regulatory matters, particularly where (i) the damages sought are indeterminate, (ii) the proceedings are in the early stages, or (iii) the matters involve novel legal theories or a large number of parties, as a matter of course, there is considerable uncertainty surrounding the timing or ultimate resolution of litigation and governmental and regulatory matters, including a possible eventual loss, fine, penalty, business or adverse reputational impact, if any, associated with each such matter. In accordance with applicable accounting guidance, we establish accruals for litigation and governmental and regulatory matters when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. In such cases, there may be a possible exposure to loss in excess of any amounts accrued. We will continue to monitor such matters for developments that could affect the amount of the accrual, and will adjust the accrual amount as appropriate. If the loss contingency in question is not both probable and reasonably estimable, we do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. We believe that our accruals for legal proceedings are appropriate and, in the aggregate, are not material to our consolidated financial position, although future accruals could have a material effect on net income in a given period. |
Stock Incentive Plans
Stock Incentive Plans | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Incentive Plans | STOCK INCENTIVE PLANS Restricted Stock We issue restricted stock awards, consisting of both restricted stock and restricted stock units, to key employees under our Incentive Compensation Plan (Plan). We issue time-based awards and performance-based awards under this Plan, both of which are based on a three -year vesting period. The grant date fair value of the time-based awards is equal to the price of our common stock on the grant date. The fair value of the performance-based awards is based on a Monte-Carlo Simulation valuation of our common stock as of the grant date. The assumptions used for this valuation include stock price volatility, risk-free interest rate and dividend yield. We issued 251,379 and 277,174 performance-based restricted stock units in 2017 and 2016 , respectively. For performance-based restricted stock awards granted, the recipients will earn shares, totaling between 0% and 175% of the number of units issued, based on our total stockholder return relative to a specified peer group of financial institutions over the three -year period. These market-based restricted stock units are included in the table below as if the recipients earned shares equal to 100% of the units issued. The following table details our issuance of restricted stock awards and the aggregate weighted average grant date fair values under these plans for the years indicated. As of December 31, 2017 , we had available up to 2,642,020 shares of common stock to issue under this Plan. (dollars in thousands) 2017 2016 2015 Restricted stock awards 713,998 574,125 664,337 Weighted average grant date fair values $ 10,474 $ 7,383 $ 8,802 The unvested restricted stock awards are eligible to receive cash dividends or dividend equivalents which are ultimately used to purchase additional shares of stock and are subject to forfeiture if the requisite service period is not completed or the specified performance criteria are not met. These awards are subject to certain accelerated vesting provisions upon retirement, death, disability or in the event of a change of control as defined in the award agreements. The following table summarizes the activity relating to restricted stock awards during the periods indicated: 2017 2016 2015 Awards Weighted Average Grant Price per Share Awards Weighted Average Grant Price per Share Awards Weighted Average Grant Price per Share Unvested awards outstanding at beginning of year 1,836,363 $ 12.97 1,548,444 $ 12.85 1,354,093 $ 11.86 Granted 713,998 14.67 574,125 12.86 664,337 13.25 Net adjustment due to performance (64,861 ) 13.85 72,070 11.79 13,115 19.74 Vested (542,580 ) 12.71 (384,704 ) 12.11 (484,010 ) 10.70 Forfeited/expired (31,018 ) 14.03 (31,394 ) 13.02 (41,130 ) 13.24 Dividend reinvestment 63,960 13.80 57,822 13.08 42,039 11.86 Unvested awards outstanding at end of year 1,975,862 13.64 1,836,363 12.97 1,548,444 12.85 The following table provides certain information relating to restricted stock awards: Year Ended December 31 2017 2016 2015 (in thousands) Stock-based compensation expense $ 8,201 $ 7,066 $ 4,461 Tax benefit related to stock-based compensation expense 2,870 2,473 1,561 Fair value of awards vested 8,106 4,587 6,070 As of December 31, 2017 , there was $12.1 million of unrecognized compensation cost related to unvested restricted stock awards including $0.7 million that is subject to accelerated vesting under the Plan’s immediate vesting upon retirement provision for awards granted prior to the adoption of ASC 718, Compensation - Stock Compensation . The components of the restricted stock awards as of December 31, 2017 are as follows: (dollars in thousands) Service- Based Awards Performance- Based Awards Total Unvested restricted stock awards 1,062,902 912,960 1,975,862 Unrecognized compensation expense $ 7,037 $ 5,062 $ 12,099 Intrinsic value $ 14,689 $ 12,617 $ 27,306 Weighted average remaining life (in years) 1.93 1.72 1.83 Stock Options All outstanding stock options were assumed from acquisitions and are fully vested. Upon consummation of our acquisitions, all outstanding stock options issued by the acquired companies were converted into equivalent FNB stock options. We issue shares of treasury stock or authorized but unissued shares to satisfy stock options exercised. The following table summarizes the activity relating to stock options during the periods indicated: 2017 Weighted Average Exercise Price per Share 2016 Weighted Average Exercise Price per Share 2015 Weighted Average Exercise Price per Share Options outstanding at beginning of year 892,532 $ 8.95 435,340 $ 8.86 568,834 $ 8.86 Assumed from acquisitions 207,645 8.92 1,707,036 7.83 — — Exercised (255,503 ) 10.21 (1,128,075 ) 7.18 (93,822 ) 5.94 Forfeited/expired (122,024 ) 12.12 (121,769 ) 9.33 (39,672 ) 15.66 Options outstanding and exercisable at end of year 722,650 7.96 892,532 8.95 435,340 8.86 The following table summarizes information about stock options outstanding at December 31, 2017 : Range of Exercise Prices Options Outstanding and Exercisable Weighted Average Remaining Contractual Years Weighted Average Exercise Price $3.45 - $5.18 162,224 3.07 $ 4.87 $5.19 - $7.78 118,707 3.31 6.84 $7.79 - $11.68 432,260 3.80 9.33 $11.69 - $14.53 9,459 0.69 12.48 722,650 The intrinsic value of outstanding and exercisable stock options at December 31, 2017 was $4.4 million . The aggregate intrinsic value represents the amount by which the fair value of underlying stock exceeds the "in-the-money" option exercise price. The following table summarizes certain information relating to stock options exercised: Year Ended December 31 2017 2016 2015 (in thousands) Proceeds from stock options exercised $ 2,340 $ 7,816 $ 557 Tax benefit recognized from stock options exercised 385 1,862 130 Intrinsic value of stock options exercised 1,001 6,577 693 Warrants In conjunction with our participation in the UST’s CPP, we issued to the UST a warrant to purchase up to 1,302,083 shares of our common stock. Pursuant to Section 13(H) of the Warrant to Purchase Common Stock, the number of shares of common stock issuable upon exercise of the warrant was reduced in half to 651,042 shares on June 16, 2009, the date we completed a public offering. The warrant, which expires in 2019, was sold at auction by the UST and has an exercise price of $11.52 per share. In conjunction with the ANNB acquisition on April 6, 2013, the warrant issued by ANNB to the UST under the CPP has been converted into a warrant to purchase up to 342,564 shares of our common stock at an exercise price of $3.57 per share. Subsequent adjustments related to actual dividends paid by us have increased the share amount of these warrants to 402,287 , with a resulting lower exercise price of $3.04 per share as of December 31, 2017 . The warrant, which was recorded at its fair value on April 6, 2013, was sold at auction by the UST and expires in 2019. In conjunction with the YDKN acquisition on March 11, 2017, the warrant issued by YDKN to the UST under the CPP has been converted into a warrant to purchase up to 207,320 shares of our common stock at an exercise price of $9.63 per share. Subsequent adjustments related to actual dividends paid by us have increased the share amount of these warrants to 210,135 , with a resulting lower exercise price of $9.50 per share as of December 31, 2017 . The warrant, which was recorded at its fair value on March 11, 2017, was sold at auction by the UST and expires in 2019. |
Retirement Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Retirement Plans | RETIREMENT PLANS We sponsor the Retirement Income Plan (RIP), a qualified noncontributory defined benefit pension plan that covered substantially all salaried employees hired prior to January 1, 2008. The RIP covers employees who satisfied minimum age and length of service requirements. Our funding guideline has been to make annual contributions to the RIP each year, if necessary, such that minimum funding requirements have been met. The RIP was frozen as of December 31, 2010. We also sponsor two supplemental non-qualified retirement plans. The ERISA Excess Retirement Plan provides retirement benefits equal to the difference, if any, between the maximum benefit allowable under the Internal Revenue Code and the amount that would be provided under the RIP, if no limits were applied. The Basic Retirement Plan (BRP) is applicable to certain officers whom the Board of Directors designates. Officers participating in the BRP receive a benefit based on a target benefit percentage based on years of service at retirement and a designated tier as determined by the Board of Directors. When a participant retires, the benefit under the BRP is a monthly benefit equal to the participant's aggregate target benefit percentage multiplied by the participant’s highest average monthly cash compensation, including bonuses, during five consecutive calendar years within the last ten calendar years of employment before 2009. This monthly benefit is reduced by the monthly benefit the participant receives from the Social Security Administration, the RIP, the ERISA Excess Retirement Plan and the annuity equivalent of the automatic contributions paid to participants under the qualified 401(k) defined contribution plan and the ERISA Excess Lost Match Plan. The BRP was frozen as of December 31, 2008. The ERISA Excess Retirement Plan was frozen as of December 31, 2010. The following tables provide information relating to the accumulated benefit obligation, change in benefit obligation, change in plan assets, the plans’ funded status and the amount included in the consolidated balance sheets for the qualified and non-qualified plans described above (collectively, the Plans): December 31 2017 2016 (in thousands) Accumulated benefit obligation $ 181,412 $ 152,586 Projected benefit obligation at beginning of year $ 152,916 $ 151,015 Acquisition 29,613 — Service cost (13 ) (15 ) Interest cost 6,846 6,129 Actuarial loss 9,061 3,723 Benefits paid (9,728 ) (7,936 ) Settlement (7,158 ) — Projected benefit obligation at end of year $ 181,537 $ 152,916 Fair value of plan assets at beginning of year $ 136,958 $ 132,762 Acquisition 24,961 — Actual return on plan assets 17,327 10,787 Corporation contribution 1,345 1,345 Benefits paid (9,728 ) (7,936 ) Settlement (7,158 ) — Fair value of plan assets at end of year $ 163,705 $ 136,958 Funded status of plans $ (17,832 ) $ (15,958 ) The unrecognized actuarial loss, prior service cost and net transition obligation are required to be recognized into earnings over the average remaining participant life due to the freezing of the RIP, which may, on a net basis reduce future earnings. Actuarial assumptions used in the determination of the projected benefit obligation in the Plans are as follows: Assumptions at December 31 2017 2016 Weighted average discount rate 3.53 % 3.96 % Rates of average increase in compensation levels 3.50 3.50 The discount rate assumption at December 31, 2017 and 2016 was determined using a yield-curve based approach. A yield curve was produced for a universe containing the majority of U.S.-issued Aa-graded corporate bonds, all of which were non-callable (or callable with make-whole provisions), and after excluding the 10% of the bonds with the highest and lowest yields. The discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments. The net periodic pension cost and other comprehensive income for the Plans included the following components: Year Ended December 31 2017 2016 2015 (in thousands) Service cost $ (13 ) $ (15 ) $ (14 ) Interest cost 6,846 6,129 5,897 Expected return on plan assets (11,121 ) (9,413 ) (9,964 ) Transition amount amortization — — — Prior service credit amortization 7 7 7 Actuarial loss amortization 2,461 2,383 2,112 Net periodic pension income (1,820 ) (909 ) (1,962 ) Settlement charge 168 — — Total pension income (1,652 ) (909 ) (1,962 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income: Current year actuarial loss 2,855 2,349 6,914 Amortization of actuarial loss (2,461 ) (2,383 ) (2,112 ) Amortization of prior service credit (7 ) (7 ) (7 ) Amortization of transition asset — — — Total amount recognized in other comprehensive income 387 (41 ) 4,795 Total amount recognized in net periodic benefit cost and other comprehensive income $ (1,265 ) $ (950 ) $ 2,833 The plans have an actuarial measurement date of December 31. Actuarial assumptions used in the determination of the net periodic pension cost in the Plans are as follows: Assumptions for the Year Ended December 31 2017 2016 2015 Weighted average discount rate 3.96 % 4.19 % 3.85 % Rates of increase in compensation levels 3.50 3.50 3.50 Expected long-term rate of return on assets 7.25 7.25 7.25 The expected long-term rate of return on plan assets has been established by considering historical and anticipated expected returns on the asset classes invested in by the pension trust and the allocation strategy currently in place among those classes. The change in plan assets reflects benefits paid from the qualified pension plans of $8.4 million and $6.6 million for 2017 and 2016 , respectively. The employer did not make any contributions to the qualified pension plans during 2017 or 2016 . For the non-qualified pension plans, the change in plan assets reflects benefits paid from and contributions made to the plans in the same amount. This amount represents the actual benefit payments paid from general assets of $1.3 million for 2017 and $1.3 million for 2016 . As of December 31, 2017 and 2016 , the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the qualified and non-qualified pension plans were as follows: (in thousands) Qualified Pension Plans Non-Qualified Pension Plans December 31 2017 2016 2017 2016 Projected benefit obligation $ 161,632 $ 132,902 $ 19,905 $ 20,014 Accumulated benefit obligation 161,632 132,902 19,780 19,684 Fair value of plan assets 163,705 136,958 — — The impact of changes in the discount rate and expected long-term rate of return on plan assets would have had the following effects on 2017 pension expense: (in thousands) Estimated Effect on Pension Expense 0.5% decrease in the discount rate $ (97 ) 0.5% decrease in the expected long-term rate of return on plan assets 767 The following table provides information regarding estimated future cash flows relating to the Plans at December 31, 2017 (in thousands): Expected employer contributions: 2018 $ 1,424 Expected benefit payments: 2018 9,474 2019 9,957 2020 10,227 2021 10,390 2022 10,501 2023 – 2027 53,902 The qualified pension plan contributions are deposited into a trust and the qualified benefit payments are made from trust assets. For the non-qualified plans, the contributions and the benefit payments are the same and reflect expected benefit amounts, which we pay from general assets. Our subsidiaries participate in a qualified 401(k) defined contribution plan under which employees may contribute a percentage of their salary. Employees are eligible to participate upon their first day of employment. Under this plan, we match 100% of the first six percent that the employee defers. Additionally, we may provide a performance-based company contribution of up to three percent if we exceed annual financial goals. Our contribution expense is presented in the following table: Year Ended December 31 2017 2016 2015 (in thousands) 401(k) contribution expense $ 12,286 $ 9,069 $ 8,055 We also sponsor an ERISA Excess Lost Match Plan for certain officers. This plan provides retirement benefits equal to the difference, if any, between the maximum benefit allowable under the Internal Revenue Code and the amount that would have been provided under the qualified 401(k) defined contribution plan, if no limits were applied. Pension Plan Investment Policy and Strategy Our investment strategy for the RIP is to diversify plan assets between a wide mix of equity and debt securities in an effort to allow the plan the opportunity to meet the plan’s expected long-term rate of return requirements while minimizing short-term volatility. In this regard, the plan has targeted allocations within the equity securities category for domestic large cap, domestic mid cap, domestic small cap, real estate investment trusts, emerging market and international securities. Within the debt securities category, the plan has targeted allocation levels for U.S. Treasury, U.S. agency, domestic investment-grade bonds, high-yield bonds, inflation-protected securities and international bonds. The following table presents asset allocations for our pension plans as of December 31, 2017 and 2016 , and the target allocation for 2018 , by asset category: Target Allocation Percentage of Plan Assets December 31 2018 2017 2016 Asset Category Equity securities 45 - 65 64 % 61 % Debt securities 30 - 50 33 35 Cash equivalents 0 - 10 3 4 At December 31, 2017 and 2016 , equity securities included 575,128 shares of our common stock, representing 4.9% and 6.7% of total plan assets at December 31, 2017 and 2016 , respectively. Dividends received on our common stock held by the Plan were $276,000 for both 2017 and 2016 . The fair values of our pension plan assets by asset category are as follows: (in thousands) Level 1 Level 2 Level 3 Total December 31, 2017 Asset Class Cash $ 5,613 $ — $ — $ 5,613 Equity securities: F.N.B. Corporation 7,948 — — 7,948 Other large-cap U.S. financial services companies 4,269 — — 4,269 Other large-cap U.S. companies 45,583 — — 45,583 International companies 576 — — 576 Other equity 726 — — 726 Mutual fund equity investments: U.S. equity index funds: U.S. large-cap equity index funds 3,489 — — 3,489 U.S. small-cap equity index funds 3,983 — — 3,983 U.S. mid-cap equity index funds 4,836 — — 4,836 Non-U.S. equities growth fund 13,965 — — 13,965 U.S. equity funds: U.S. mid-cap 9,413 — — 9,413 U.S. small-cap 3,165 — — 3,165 Other 5,681 — — 5,681 Fixed income securities: U.S. Treasury bonds — 121 — 121 U.S. government agencies — 37,671 — 37,671 Corporate bonds — 5,532 — 5,532 Fixed income mutual funds: U.S. investment-grade fixed income securities 11,134 — — 11,134 Non-U.S. fixed income securities — — — — Total $ 120,381 $ 43,324 $ — $ 163,705 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2016 Asset Class Cash $ 5,125 $ — $ — $ 5,125 Equity securities: F.N.B. Corporation 9,219 — — 9,219 Other large-cap U.S. financial services companies 2,999 — — 2,999 Other large-cap U.S. companies 36,570 — — 36,570 International companies 718 — — 718 Other equity 596 — — 596 Mutual fund equity investments: U.S. equity index funds: U.S. large-cap equity index funds 559 — — 559 U.S. small-cap equity index funds 3,035 — — 3,035 U.S. mid-cap equity index funds 3,795 — — 3,795 Non-U.S. equities growth fund 9,555 — — 9,555 U.S. equity funds: U.S. mid-cap 7,615 — — 7,615 U.S. small-cap 3,173 — — 3,173 Other 5,928 — — 5,928 Fixed income securities: U.S. government agencies — 36,891 — 36,891 Fixed income mutual funds: U.S. investment-grade fixed income securities 10,766 — — 10,766 Non-U.S. fixed income securities 414 — — 414 Total $ 100,067 $ 36,891 $ — $ 136,958 The classifications for Level 1, Level 2 and Level 3 are discussed in Note 24, “Fair Value Measurements.” |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The TCJA includes several changes to existing U.S. tax laws that impact us, most notably a reduction of the U.S. corporate income tax rate from 35% to 21% , which became effective January 1, 2018. We recognized the initial income tax effects of the TCJA in our 2017 financial statements in accordance with Staff Accounting Bulletin No. 118, which provides SEC staff guidance for the application of ASC 740, Income Taxes, in the reporting period in which the TCJA was signed into law. As such, our financial results reflect the income tax effects of the TCJA for which the accounting under ASC 740 is complete, as well as for provisional amounts for those specific income tax effects under ASC 740 that are incomplete, but a reasonable estimate could be determined. We did not identify any items for which the income tax effects of the TCJA have not been completed and a reasonable estimate could not be determined as of December 31, 2017. As of December 31, 2017 , we recorded provisional charges related to the remeasurement of the deferred tax assets and liabilities due to the reduction in the corporate tax rate. Examples of unavailable or unanalyzed information for which we have provisional estimates include deferred taxes related to depreciation (including lease financing), partnership earnings, and realized built-in losses from a prior acquisition. These estimates are subject to change as additional data is gathered, as interpretations and guidance are received, and as the final analyses are completed. The measurement period ends when we have analyzed the information necessary to finalize our accounting, but cannot extend beyond one year. The effects of changes in tax rates on deferred tax balances are applicable even in situations in which the related income tax effects of such items were originally recognized in other comprehensive income. This results in stranded tax effects for items that were recorded in AOCI rather than in income from continuing operations. In the fourth quarter of 2017, we elected to change our accounting policy to reclassify the income tax effects related to the TCJA of approximately $14.7 million from AOCI to retained earnings. This change in accounting policy results in the appropriate tax rate being recognized in AOCI for debt and equity investments, certain derivative transactions, and pension and other post-retirement benefit plans. Income Tax Expense Federal and state income tax expense consist of the following: Year Ended December 31 2017 2016 2015 (in thousands) Current income taxes: Federal taxes $ 26,336 $ 57,894 $ 69,572 State taxes 1,746 2,329 989 Total current income taxes 28,082 60,223 70,561 Deferred income taxes: Federal taxes 128,204 14,983 63 State taxes 779 291 (631 ) Total deferred income taxes 128,983 15,274 (568 ) Total income taxes $ 157,065 $ 75,497 $ 69,993 The following table provides a reconciliation between the statutory tax rate and the actual effective tax rate: Year Ended December 31 2017 2016 2015 Statutory tax rate 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 0.5 0.7 0.8 Valuation allowance reversal — — (0.8 ) Tax-exempt interest (3.3 ) (2.9 ) (2.2 ) Cash surrender value on BOLI (1.1 ) (1.5 ) (1.3 ) Tax credits (2.6 ) (0.9 ) (1.1 ) Affordable housing cost amortization, net of tax benefits 0.2 — — Tax Cuts and Jobs Act revaluation of net deferred tax assets 15.2 — — Other items 0.2 0.2 0.1 Actual effective tax rate 44.1 % 30.6 % 30.5 % The effective tax rate for 2017 was 44.1% , as compared to 30.6% in 2016 . The higher rate is largely due to $54.0 million of income tax expense recorded from the revaluation of net deferred tax assets in connection the TCJA, partially offset by increased tax credit activity in 2017 . The effective tax rates for 2016 and 2015 were lower than the statutory tax rate due to tax benefits resulting from tax-exempt income on investments, loans, tax credits and income from bank-owned life insurance (BOLI). Income tax expense related to gains on the sale of securities is presented in the following table: Year Ended December 31 2017 2016 2015 (in thousands) Income tax expense related to gains on sale of securities $ 2,071 $ 249 $ 288 Deferred Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and tax purposes. Deferred tax assets and liabilities are measured based on the enacted tax rates that will apply in the years in which the temporary differences are expected to be recovered or paid. As such, during December 2017, we remeasured our deferred tax assets and liabilities as a result of the passage of the TCJA. The primary impact of this remeasurement was a reduction in deferred tax assets and liabilities in connection with the reduction of the U.S. corporate income tax rate from 35% to 21% . The following table presents the tax effects of significant temporary differences that give rise to federal and state deferred tax assets and liabilities: December 31 2017 2016 (in thousands) Deferred tax assets: Allowance for credit losses $ 38,933 $ 56,090 Discounts on acquired loans 64,341 48,978 Net operating loss/tax credit carryforwards 47,376 17,753 Deferred compensation 8,534 12,236 Securities impairments 1,092 — Pension and other defined benefit plans 6,768 7,713 Net unrealized securities losses 7,238 6,972 Other 7,787 11,264 Total 182,069 161,006 Valuation allowance (26,620 ) (18,945 ) Total deferred tax assets 155,449 142,061 Deferred tax liabilities: Loan costs (7,211 ) (2,222 ) Depreciation (12,263 ) (12,392 ) Prepaid expenses (3,669 ) (682 ) Amortizable intangibles (18,422 ) (18,506 ) Lease financing (10,035 ) (5,538 ) Debt discharge income deferral (474 ) (1,361 ) Originated mortgage servicing rights (6,178 ) (748 ) Net unrealized securities gains — (86 ) Other (1,647 ) (1,253 ) Total deferred tax liabilities (59,899 ) (42,788 ) Net deferred tax assets $ 95,550 $ 99,273 We establish a valuation allowance when it is more likely than not that we will not be able to realize the benefit of the deferred tax assets or when future deductibility is uncertain. Periodically, the valuation allowance is reviewed and adjusted based on management’s assessment of realizable deferred tax assets. As of December 31, 2017 , the valuation allowance primarily relates to unused federal and state net operating loss carryforwards expiring from 2018 to 2037 . We anticipate that neither the state net operating loss carryforwards nor the other net deferred tax assets at certain of our subsidiaries will be utilized and, as such, has recorded a valuation allowance against the deferred tax assets related to these carryforwards. As of December 31, 2017 , we had approximately $65.5 million of federal net operating loss and built-in loss carryforwards, $5.2 million of federal tax credit carryforwards, and $21.5 million of state net operating loss carryforwards to which we succeeded as a result of the YDKN acquisition. The utilization of these tax attributes is subject to annual limitations under Section 382 of the Internal Revenue Code, or a similar state-level statute, which will cause the utilization of these attributes to be deferred over a number of years, not to exceed beyond 2036 . We have determined that we will likely have sufficient taxable income in the years during which these tax attributes are available to be utilized and, consequently, have determined that no valuation allowance against the recorded deferred tax asset is warranted. Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: Year Ended December 31 2017 2016 (in thousands) Balance at beginning of year $ 542 $ 455 Additions based on tax positions related to current year 186 163 Additions based on tax positions of prior year — — Reductions for tax positions of prior years (5 ) — Reductions due to expiration of statute of limitations (73 ) (76 ) Balance at end of year $ 650 $ 542 As of December 31, 2017 and 2016 , we have approximately $0.7 million and $0.5 million , respectively, of unrecognized tax benefits, excluding interest and the federal tax benefit of unrecognized state tax benefits. Also, as of December 31, 2017 and 2016 , additional unrecognized tax benefits relating to accrued interest, net of the related federal tax benefit, amounted to $25,000 and $19,000 , respectively. As of December 31, 2017 , $0.5 million of these tax benefits would affect the effective tax rate if recognized. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. To the extent interest is not assessed with respect to uncertain tax positions, amounts accrued will be reduced and reflected as a reduction of the overall income tax provision. We file numerous income tax returns in the U.S. federal jurisdiction and in several state jurisdictions. We are no longer subject to U.S. federal income tax examinations for years prior to 2014 . With limited exception, we are no longer subject to state income tax examinations for years prior to 2014 . We anticipate that a reduction in the unrecognized tax benefit of up to $81 thousand may occur in the next twelve months from the expiration of statutes of limitations which would result in a reduction in income taxes. |
Other Comprehensive Income
Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Other Comprehensive Income | OTHER COMPREHENSIVE INCOME The following table presents changes in AOCI, net of tax, by component: (in thousands) Unrealized Net Gains (Losses) on Securities Available for Sale Unrealized Net Gains (Losses) on Derivative Instruments Unrecognized Pension and Postretirement Obligations Total Year Ended December 31, 2017 Balance at beginning of period $ (18,222 ) $ 5,254 $ (48,401 ) $ (61,369 ) Other comprehensive income (loss) before reclassifications (5,744 ) (759 ) (7 ) (6,510 ) Amounts reclassified from AOCI (411 ) (46 ) — (457 ) Amounts reclassified from AOCI due to tax reform (5,249 ) 958 (10,425 ) (14,716 ) Net current period other comprehensive income (loss) (11,404 ) 153 (10,432 ) (21,683 ) Balance at end of period $ (29,626 ) $ 5,407 $ (58,833 ) $ (83,052 ) The amounts reclassified from AOCI related to securities available for sale are included in net securities gains on the consolidated income statements, while the amounts reclassified from AOCI related to derivative instruments are included in interest income on loans and leases on the consolidated income statements. The tax (benefit) expense amounts reclassified from AOCI in connection with the securities available for sale and derivative instruments reclassifications are included in income taxes on the consolidated statements of income. |
Earnings per Common Share
Earnings per Common Share | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | EARNINGS PER COMMON SHARE The following table sets forth the computation of basic and diluted earnings per common share: Year Ended December 31 2017 2016 2015 (dollars in thousands, except per share data) Net income $ 199,204 $ 170,891 $ 159,649 Less: Preferred stock dividends 8,041 8,041 8,041 Net income available to common stockholders $ 191,163 $ 162,850 $ 151,608 Basic weighted average common shares outstanding 302,195,295 206,244,498 174,971,785 Net effect of dilutive stock options, warrants and restricted stock 1,662,681 1,524,111 1,367,168 Diluted weighted average common shares outstanding 303,857,976 207,768,609 176,338,953 Earnings per common share: Basic $ 0.63 $ 0.79 $ 0.87 Diluted $ 0.63 $ 0.78 $ 0.86 The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: Year Ended December 31 2017 2016 2015 Average shares excluded from the diluted earnings per common share calculation 910 9,980 18,167 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | REGULATORY MATTERS FNB and FNBPA are subject to various regulatory capital requirements administered by the federal banking agencies. Quantitative measures established by regulators to ensure capital adequacy require FNB and FNBPA to maintain minimum amounts and ratios of total, tier 1 and common equity tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of leverage ratio (as defined). Failure to meet minimum capital requirements could lead to initiation of certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on our consolidated financial statements, dividends and future merger and acquisition activity. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, FNB and FNBPA must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. FNB’s and FNBPA’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. As of December 31, 2017 , the most recent notification from the federal banking agencies categorized FNB and FNBPA as “well-capitalized” under the regulatory framework for prompt corrective action. There are no conditions or events since the notification which management believes have changed this categorization. Following are the capital ratios for FNB and FNBPA: Actual Well-Capitalized Requirements Minimum Capital Requirements (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2017 F.N.B. Corporation: Total capital $ 2,666,272 11.4 % $ 2,340,362 10.0 % $ 2,164,835 9.3 % Tier 1 capital 2,184,571 9.3 1,872,290 8.0 1,696,763 7.3 Common equity tier 1 2,077,689 8.9 1,521,235 6.5 1,345,708 5.8 Leverage 2,184,571 7.6 1,440,797 5.0 1,152,638 4.0 Risk-weighted assets 23,403,622 FNBPA: Total capital 2,504,191 10.7 2,332,593 10.0 2,157,649 9.3 Tier 1 capital 2,332,892 10.0 1,866,075 8.0 1,691,130 7.3 Common equity tier 1 2,252,892 9.7 1,516,186 6.5 1,341,241 5.8 Leverage 2,332,892 8.1 1,432,604 5.0 1,146,084 4.0 Risk-weighted assets 23,325,934 As of December 31, 2016 F.N.B. Corporation: Total capital $ 1,917,386 12.0 % $ 1,597,951 10.0 % $ 1,378,232 8.6 % Tier 1 capital 1,582,251 9.9 1,278,360 8.0 1,058,642 6.6 Common equity tier 1 1,475,369 9.2 1,038,668 6.5 818,950 5.1 Leverage 1,582,251 7.7 1,027,831 5.0 822,265 4.0 Risk-weighted assets 15,979,505 FNBPA: Total capital 1,768,561 11.1 1,588,989 10.0 1,370,503 8.6 Tier 1 capital 1,614,167 10.2 1,271,191 8.0 1,052,705 6.6 Common equity tier 1 1,534,167 9.7 1,032,843 6.5 814,357 5.1 Leverage 1,614,167 7.9 1,019,034 5.0 815,227 4.0 Risk-weighted assets 15,889,893 In accordance with Basel III standards, the implementation of capital requirements is transitional and phases-in from January 1, 2015 through January 1, 2019. The minimum capital requirements for each period above are based on the requirements that were in effect at that time. Our management believes that FNB and FNBPA will continue to meet all "well-capitalized" requirements after Basel III is completely phased-in. FNBPA was required to maintain aggregate cash reserves with the FRB amounting to $39.6 million at December 31, 2017 . We also maintain deposits for various services such as check clearing. Certain limitations exist under applicable law and regulations by regulatory agencies regarding dividend distributions to a parent by our subsidiaries. As of December 31, 2017 , our subsidiaries had $206.8 million of retained earnings available for distribution to us without prior regulatory approval. Under current FRB regulations, FNBPA is limited in the amount it may lend to non-bank affiliates, including FNB. Such loans must be secured by specified collateral. In addition, any such loans to a non-bank affiliate may not exceed 10% of FNBPA’s capital and surplus and the aggregate of loans to all such affiliates may not exceed 20% of FNBPA’s capital and surplus. The maximum amount that may be borrowed by FNB affiliates under these provisions was $474.8 million at December 31, 2017 . |
Cash Flow Information
Cash Flow Information | 12 Months Ended |
Dec. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow Information | CASH FLOW INFORMATION Following is a summary of supplemental cash flow information: Year Ended December 31 2017 2016 2015 (in thousands) Interest paid on deposits and other borrowings $ 129,024 $ 67,296 $ 47,805 Income taxes paid 52,500 60,000 61,500 Transfers of loans to other real estate owned 34,841 14,592 9,628 Financing of other real estate owned sold 19 441 372 Supplemental non-cash information relating to our acquisitions is included in Note 3, “Mergers and Acquisitions.” |
Business Segments
Business Segments | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Business Segments | BUSINESS SEGMENTS We operate in four reportable segments: Community Banking, Wealth Management, Insurance and Consumer Finance. • The Community Banking segment provides commercial and consumer banking services. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, business credit, capital markets and lease financing. Consumer banking products and services include deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. • The Wealth Management segment provides a broad range of personal and corporate fiduciary services including the administration of decedent and trust estates. In addition, it offers various alternative products, including securities brokerage and investment advisory services, mutual funds and annuities. • The Insurance segment includes a full-service insurance agency offering all lines of commercial and personal insurance through major carriers. The Insurance segment also includes a reinsurer. • The Consumer Finance segment primarily makes installment loans to individuals and purchases installment sales finance contracts from retail merchants. The Consumer Finance segment activity is funded through the sale of subordinated notes, which are issued by a wholly-owned subsidiary and guaranteed by us. The following tables provide financial information for these segments of FNB. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of FNB, and includes the parent company, other non-bank subsidiaries and eliminations and adjustments to reconcile to the consolidated financial statements. (in thousands) Community Banking Wealth Manage- ment Insurance Consumer Finance Parent and Other Consolidated At or for the Year Ended December 31, 2017 Interest income $ 943,661 $ — $ 81 $ 40,187 $ (3,603 ) $ 980,326 Interest expense 117,951 — — 3,676 12,265 133,892 Net interest income 825,710 — 81 36,511 (15,868 ) 846,434 Provision for credit losses 52,780 — — 8,293 — 61,073 Non-interest income 197,517 39,256 15,671 3,256 (3,251 ) 252,449 Non-interest expense (1) 596,813 30,563 14,507 21,502 639 664,024 Amortization of intangibles 17,050 254 213 — — 17,517 Income tax expense (benefit) 152,778 2,679 (256 ) 5,283 (3,419 ) 157,065 Net income (loss) 203,806 5,760 1,288 4,689 (16,339 ) 199,204 Total assets 31,155,973 24,218 21,062 181,260 35,122 31,417,635 Total intangibles 2,317,151 10,176 12,127 1,809 — 2,341,263 At or for the Year Ended Interest income $ 640,895 $ — $ 84 $ 40,922 $ (2,938 ) $ 678,963 Interest expense 56,182 — — 3,759 7,510 67,451 Net interest income 584,713 — 84 37,163 (10,448 ) 611,512 Provision for credit losses 49,046 — — 6,706 — 55,752 Non-interest income 149,408 35,283 14,750 3,002 (682 ) 201,761 Non-interest expense (1) 437,031 27,201 12,965 21,662 1,064 499,923 Amortization of intangibles 10,526 259 425 — — 11,210 Income tax expense (benefit) 72,619 2,845 532 4,488 (4,987 ) 75,497 Net income (loss) 164,899 4,978 912 7,309 (7,207 ) 170,891 Total assets 21,629,374 19,619 22,053 193,349 (19,578 ) 21,844,817 Total intangibles 1,061,597 10,189 12,340 1,809 — 1,085,935 At or for the Year Ended Interest income $ 509,585 $ — $ 89 $ 39,868 $ (2,747 ) $ 546,795 Interest expense 41,227 — — 3,518 3,828 48,573 Net interest income 468,358 — 89 36,350 (6,575 ) 498,222 Provision for credit losses 33,045 — — 7,396 — 40,441 Non-interest income 114,377 35,246 13,052 2,926 (3,191 ) 162,410 Non-interest expense (1) 320,912 27,264 13,891 20,189 (12 ) 382,244 Amortization of intangibles 7,544 273 488 — — 8,305 Income tax expense (benefit) 66,979 2,803 (412 ) 4,709 (4,086 ) 69,993 Net income (loss) 154,255 4,906 (826 ) 6,982 (5,668 ) 159,649 Total assets 17,349,459 20,753 22,207 195,048 (29,805 ) 17,557,662 Total intangibles 844,630 10,447 12,923 1,809 — 869,809 (1) Excludes amortization of intangibles, which is presented separately. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS We use fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Securities available for sale and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, we may be required to record at fair value other assets on a non-recurring basis, such as mortgage loans held for sale, certain impaired loans, OREO and certain other assets. Fair value is defined as an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are not adjusted for transaction costs. Fair value is a market-based measure considered from the perspective of a market participant who holds the asset or owes the liability rather than an entity-specific measure. In determining fair value, we use various valuation approaches, including market, income and cost approaches. ASC 820, Fair Value Measurements and Disclosures , establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability, which are developed based on market data obtained from sources independent of FNB. Unobservable inputs reflect our assumptions about the assumptions that market participants would use in pricing an asset or liability, which are developed based on the best information available in the circumstances. The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows: Measurement Category Definition Level 1 valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets. Level 2 valuation is based upon quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by market data. Level 3 valuation is derived from other valuation methodologies including discounted cash flow models and similar techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in determining fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies we use for financial instruments recorded at fair value on either a recurring or non-recurring basis: Securities Available For Sale Securities available for sale consist of both debt and equity securities. These securities are recorded at fair value on a recurring basis. At December 31, 2017 , 100.0% of these securities used valuation methodologies involving market-based or market-derived information, collectively Level 1 and Level 2 measurements, to measure fair value. We closely monitor market conditions involving assets that have become less actively traded. If the fair value measurement is based upon recent observable market activity of such assets or comparable assets (other than forced or distressed transactions) that occur in sufficient volume, and do not require significant adjustment using unobservable inputs, those assets are classified as Level 1 or Level 2; if not, they are classified as Level 3. Making this assessment requires significant judgment. We use prices from independent pricing services and, to a lesser extent, indicative (non-binding) quotes from independent brokers, to measure the fair value of investment securities. We validate prices received from pricing services or brokers using a variety of methods, including, but not limited to, comparison to secondary pricing services, corroboration of pricing by reference to other independent market data such as secondary broker quotes and relevant benchmark indices, and review of pricing information by corporate personnel familiar with market liquidity and other market-related conditions. Derivative Financial Instruments We determine fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity and uses observable market based inputs, including interest rate curves and implied volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of non-performance risk, we consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives and IRLCs utilize Level 3 inputs. Credit valuation estimates of current credit spreads are used to evaluate the likelihood of our default and the default of our counterparties. However, as of December 31, 2017 and 2016 , we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our non-IRLC derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. The fair value of IRLCs is based upon the estimated fair value of the underlying mortgage loan, including the expected cash flows related to the MSRs and the estimated percentage of IRLCs that will result in a closed mortgage loan, and classified as Level 3. Loans Held For Sale Beginning in 2017, residential mortgage loans held for sale are carried at fair value under the FVO. Prior to 2017, residential mortgage loans held for sale were carried at the lower of cost or fair value accounting, under which, periodically, it may have been necessary to record non-recurring fair value adjustments. Fair value for residential mortgage loans held for sale, when recorded, is based on independent quoted market prices and is classified as Level 2. SBA loans held for sale are carried under lower of cost or fair value accounting, for which, periodically, it may be necessary to record non-recurring fair value adjustments. Fair value for SBA loans held for sale, when recorded, is based on independent quoted market prices and is classified as Level 2. Impaired Loans We reserve for commercial loan relationships greater than or equal to $500,000 that we consider impaired as defined in ASC 310 at the time we identify the loan as impaired based upon the present value of expected future cash flows available to pay the loan, or based upon the fair value of the collateral less estimated selling costs where a loan is collateral dependent. Collateral may be real estate and/or business assets including equipment, inventory and accounts receivable. We determine the fair value of real estate based on appraisals by licensed or certified appraisers. The value of business assets is generally based on amounts reported on the business’ financial statements. Management must rely on the financial statements prepared and certified by the borrower or their accountants in determining the value of these business assets on an ongoing basis, which may be subject to significant change over time. Based on the quality of information or statements provided, management may require the use of business asset appraisals and site-inspections to better value these assets. We may discount appraised and reported values based on management’s historical knowledge, changes in market conditions from the time of valuation or management’s knowledge of the borrower and the borrower’s business. Since not all valuation inputs are observable, we classify these non-recurring fair value determinations as Level 2 or Level 3 based on the lowest level of input that is significant to the fair value measurement. We review and evaluate impaired loans no less frequently than quarterly for additional impairment based on the same factors identified above. Other Real Estate Owned OREO is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is recorded at the lower of carrying amount of the loan or fair value less costs to sell. Subsequently, these assets are carried at the lower of carrying value or fair value less costs to sell. Accordingly, it may be necessary to record non-recurring fair value adjustments. Fair value is generally based upon appraisals by licensed or certified appraisers and other market information and is classified as Level 2 or Level 3. The following table presents the balances of assets and liabilities measured at fair value on a recurring basis: (in thousands) Level 1 Level 2 Level 3 Total December 31, 2017 Assets Measured at Fair Value Debt securities available for sale U.S. Treasury $ — $ — $ — $ — U.S. government-sponsored entities — 343,942 — 343,942 Residential mortgage-backed securities Agency mortgage-backed securities — 1,598,874 — 1,598,874 Agency collateralized mortgage obligations — 794,957 — 794,957 Non-agency collateralized mortgage obligations — 1 — 1 Commercial mortgage-backed securities — — — — States of the U.S. and political subdivisions — 21,093 — 21,093 Other debt securities — 4,670 — 4,670 Total debt securities available for sale — 2,763,537 — 2,763,537 Equity securities available for sale Fixed income mutual fund 161 — — 161 Financial services industry — 864 — 864 Insurance services industry — — — — Total equity securities available for sale 161 864 — 1,025 Total securities available for sale 161 2,764,401 — 2,764,562 Loans held for sale — 56,458 — 56,458 Derivative financial instruments Trading — 28,453 — 28,453 Not for trading — 500 1,594 2,094 Total derivative financial instruments — 28,953 1,594 30,547 Total assets measured at fair value on a recurring basis $ 161 $ 2,849,812 $ 1,594 $ 2,851,567 Liabilities Measured at Fair Value Derivative financial instruments Trading $ — $ 26,953 $ — $ 26,953 Not for trading — 2,239 5 2,244 Total derivative financial instruments — 29,192 5 29,197 Total liabilities measured at fair value on a recurring basis $ — $ 29,192 $ 5 $ 29,197 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2016 Assets Measured at Fair Value Debt securities available for sale U.S. Treasury $ — $ 29,953 $ — $ 29,953 U.S. government-sponsored entities — 365,098 — 365,098 Residential mortgage-backed securities Agency mortgage-backed securities — 1,252,798 — 1,252,798 Agency collateralized mortgage obligations — 535,974 — 535,974 Non-agency collateralized mortgage obligations — 3 894 897 Commercial mortgage-backed securities — 1,291 — 1,291 States of the U.S. and political subdivisions — 35,849 — 35,849 Other debt securities — 9,487 — 9,487 Total debt securities available for sale — 2,230,453 894 2,231,347 Equity securities available for sale Financial services industry — — 492 492 Insurance services industry 148 — — 148 Total equity securities available for sale 148 — 492 640 Total securities available for sale 148 2,230,453 1,386 2,231,987 Derivative financial instruments Trading — 44,951 — 44,951 Not for trading — 9,269 — 9,269 Total derivative financial instruments — 54,220 — 54,220 Total assets measured at fair value on a recurring basis $ 148 $ 2,284,673 $ 1,386 $ 2,286,207 Liabilities Measured at Fair Value Derivative financial instruments Trading $ — $ 45,973 $ — $ 45,973 Not for trading — 1,294 — 1,294 Total derivative financial instruments — 47,267 — 47,267 Total liabilities measured at fair value on a recurring basis $ — $ 47,267 $ — $ 47,267 The following table presents additional information about assets measured at fair value on a recurring basis and for which we have utilized Level 3 inputs to determine fair value: (in thousands) Other Equity Securities Residential Non-Agency Collateralized Mortgage Obligations Interest Total Year Ended December 31, 2017 Balance at beginning of period $ — $ 492 $ 894 $ — $ 1,386 Total gains (losses) – realized/unrealized: Included in earnings — — 4 — 4 Included in other comprehensive income — 86 (6 ) — 80 Accretion included in earnings (1 ) — 1 — — Purchases, issuances, sales and settlements: Purchases 12,048 — — 1,594 13,642 Issuances — — — — — Sales/redemptions (12,047 ) — (874 ) — (12,921 ) Settlements — — (19 ) (4,569 ) (4,588 ) Transfers from Level 3 — (578 ) — — (578 ) Transfers into Level 3 — — — 4,569 4,569 Balance at end of period $ — $ — $ — $ 1,594 $ 1,594 Year Ended December 31, 2016 Balance at beginning of period $ — $ 439 $ 1,184 $ — $ 1,623 Total gains (losses) – realized/unrealized: Included in earnings — — — — — Included in other comprehensive income — 53 (7 ) — 46 Accretion included in earnings — — 6 — 6 Purchases, issuances, sales and settlements: Purchases — — — — — Issuances — — — — — Sales/redemptions — — — — — Settlements — — (289 ) — (289 ) Transfers from Level 3 — — — — — Transfers into Level 3 — — — — — Balance at end of period $ — $ 492 $ 894 $ — $ 1,386 We review fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation attributes may result in reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in/out of Level 3 at fair value at the beginning of the period in which the changes occur. See the “Securities Available for Sale” discussion within this footnote for information relating to determining Level 3 fair values. During 2017 , we acquired $12.0 million in other debt securities from YDKN that are measured at Level 3. These securities were sold during the second quarter of 2017. During 2017 , we transferred equity securities totaling $0.6 million from Level 3 to Level 2, as a result of increased trading activity relating to these securities. There were no transfers of assets or liabilities between the hierarchy levels during 2016 . For the years ended December 31, 2017 and 2016 , there were no gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held as of those dates. The total gains (losses) included in earnings are in the net securities gains (losses) line item in the consolidated statements of income. In accordance with GAAP, from time to time, we measure certain assets at fair value on a non-recurring basis. These adjustments to fair value usually result from the application of the lower of cost or fair value accounting or write-downs of individual assets. Valuation methodologies used to measure these fair value adjustments were previously described. For assets measured at fair value on a non-recurring basis still held at the balance sheet date, the following table provides the hierarchy level and the fair value of the related assets or portfolios: (in thousands) Level 1 Level 2 Level 3 Total December 31, 2017 Impaired loans $ — $ 2,813 $ 1,297 $ 4,110 Other real estate owned — 10,513 10,823 21,336 Loans held for sale - SBA — — 36,432 36,432 Other assets - SBA servicing asset — — 5,058 5,058 December 31, 2016 Impaired loans $ — $ 500 $ 5,883 $ 6,383 Other real estate owned — 11,017 3,181 14,198 Substantially all of the fair value amounts in the table above were estimated at a date during the twelve months ended December 31, 2017 and 2016 . Consequently, the fair value information presented is not as of the period’s end. Impaired loans measured or re-measured at fair value on a non-recurring basis during 2017 had a carrying amount of $7.3 million and an allocated allowance for credit losses of $3.6 million . The allocated allowance is based on fair value of $4.1 million less estimated costs to sell of $0.4 million . The allowance for credit losses includes a provision applicable to the current period fair value measurements of $3.7 million , which was included in the provision for credit losses for 2017 . OREO with a carrying amount of $23.3 million was written down to $18.7 million (fair value of $21.3 million less estimated costs to sell of $2.6 million ), resulting in a loss of $4.6 million , which was included in earnings for 2017 . Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair value of each financial instrument: Cash and Cash Equivalents, Accrued Interest Receivable and Accrued Interest Payable. For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Securities. For both securities available for sale and securities held to maturity, fair value equals the quoted market price from an active market, if available, and is classified within Level 1. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities or pricing models, and is classified as Level 2. Where there is limited market activity or significant valuation inputs are unobservable, securities are classified within Level 3. Under current market conditions, assumptions used to determine the fair value of Level 3 securities have greater subjectivity due to the lack of observable market transactions. Loans and Leases. The fair value of fixed rate loans and leases is estimated by discounting the future cash flows using the current rates at which similar loans and leases would be made to borrowers with similar credit ratings and for the same remaining maturities less an illiquidity discount. The fair value of variable and adjustable rate loans and leases approximates the carrying amount. Due to the significant judgment involved in evaluating credit quality, loans and leases are classified within Level 3 of the fair value hierarchy. Loan Servicing Rights . For both MSRs and SBA-servicing rights, both classified as Level 3 assets, fair value is determined using a discounted cash flow valuation method. These models use significant unobservable inputs including discount rates, prepayment rates and cost to service which have greater subjectivity due to the lack of observable market transactions. Derivative Assets and Liabilities. See the “Derivative Financial Instruments” discussion included within this footnote . Deposits. The estimated fair value of demand deposits, savings accounts and certain money market deposits is the amount payable on demand at the reporting date because of the customers’ ability to withdraw funds immediately. The fair value of fixed-maturity deposits is estimated by discounting future cash flows using rates currently offered for deposits of similar remaining maturities. Short-Term Borrowings. The carrying amounts for short-term borrowings approximate fair value for amounts that mature in 90 days or less. The fair value of subordinated notes is estimated by discounting future cash flows using rates currently offered. Long-Term Borrowings. The fair value of long-term borrowings is estimated by discounting future cash flows based on the market prices for the same or similar issues or on the current rates offered to us for debt of the same remaining maturities. Loan Commitments and Standby Letters of Credit. Estimates of the fair value of these off-balance sheet items were not made because of the short-term nature of these arrangements and the credit standing of the counterparties. Also, unfunded loan commitments relate principally to variable rate commercial loans, typically are non-binding, and fees are not normally assessed on these balances. Nature of Estimates . Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise. Management believes that fair value estimates may not be comparable to other financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made. Further, because the disclosed fair value amounts were estimated as of the balance sheet date, the amounts actually realized or paid upon maturity or settlement of the various financial instruments could be significantly different. The fair values of our financial instruments are as follows: Fair Value Measurements (in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 December 31, 2017 Financial Assets Cash and cash equivalents $ 479,443 $ 479,443 $ 479,443 $ — $ — Securities available for sale 2,764,562 2,764,562 161 2,764,401 — Securities held to maturity 3,242,268 3,218,379 — 3,218,379 — Net loans and leases, including loans held for sale 20,916,277 20,661,196 — 56,458 20,604,738 Loan servicing rights 34,111 37,758 — — 37,758 Derivative assets 30,547 30,547 — 28,953 1,594 Accrued interest receivable 94,254 94,254 94,254 — — Financial Liabilities Deposits 22,399,725 22,359,182 17,779,246 4,579,936 — Short-term borrowings 3,678,337 3,678,723 3,678,723 — — Long-term borrowings 668,173 675,489 — — 675,489 Derivative liabilities 29,197 29,197 — 29,192 5 Accrued interest payable 12,480 12,480 12,480 — — December 31, 2016 Financial Assets Cash and cash equivalents $ 371,407 $ 371,407 $ 371,407 $ — $ — Securities available for sale 2,231,987 2,231,987 148 2,230,453 1,386 Securities held to maturity 2,337,342 2,294,777 — 2,293,091 1,686 Net loans and leases, including loans held for sale 14,750,792 14,464,274 — — 14,464,274 Loan servicing rights 13,521 17,546 — — 17,546 Derivative assets 54,220 54,220 — 54,220 — Accrued interest receivable 58,712 58,712 58,712 — — Financial Liabilities Deposits 16,065,647 16,045,323 13,489,152 2,556,171 — Short-term borrowings 2,503,010 2,503,277 2,503,277 — — Long-term borrowings 539,494 536,088 — — 536,088 Derivative liabilities 47,267 47,267 — 47,267 — Accrued interest payable 7,612 7,612 7,612 — — |
Parent Company Financial Statem
Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Parent Company Financial Statements | PARENT COMPANY FINANCIAL STATEMENTS The following is condensed financial information of F.N.B. Corporation (parent company only). In this information, the parent company’s investments in subsidiaries are stated at cost plus equity in undistributed earnings of subsidiaries since acquisition. This information should be read in conjunction with the consolidated financial statements. Balance Sheets (in thousands) December 31 2017 2016 Assets Cash and cash equivalents $ 165,698 $ 164,276 Securities available for sale 864 492 Other assets 22,344 17,405 Investment in bank subsidiary 4,553,703 2,598,520 Investments in and advances to non-bank subsidiaries 294,236 269,998 Total Assets $ 5,036,845 $ 3,050,691 Liabilities Other liabilities $ 33,000 $ 26,063 Advances from affiliates 306,096 295,897 Long-term borrowings 279,536 147,916 Subordinated notes: Short-term 7,993 8,172 Long-term 1,026 1,026 Total Liabilities 627,651 479,074 Stockholders’ Equity 4,409,194 2,571,617 Total Liabilities and Stockholders’ Equity $ 5,036,845 $ 3,050,691 Statements of Income (in thousands) Year Ended December 31 2017 2016 2015 Income Dividend income from subsidiaries: Bank $ 149,000 $ 108,954 $ 87,580 Non-bank 9,210 8,525 7,863 158,210 117,479 95,443 Interest income 5,323 5,041 4,845 Other income 100 2,799 1,053 Total Income 163,633 125,319 101,341 Expenses Interest expense 17,977 13,609 9,526 Other expenses 10,320 10,377 8,993 Total Expenses 28,297 23,986 18,519 Income Before Taxes and Equity in Undistributed Income of Subsidiaries 135,336 101,333 82,822 Income tax benefit 2,737 6,352 5,088 138,073 107,685 87,910 Equity in undistributed income (loss) of subsidiaries: Bank 60,567 60,924 71,581 Non-bank 564 2,282 158 Net Income $ 199,204 $ 170,891 $ 159,649 Statements of Cash Flows (in thousands) Year Ended December 31 2017 2016 2015 Operating Activities Net income $ 199,204 $ 170,891 $ 159,649 Adjustments to reconcile net income to net cash flows from operating activities: Undistributed earnings from subsidiaries (61,131 ) (63,206 ) (71,739 ) Other, net 5,441 (2,530 ) 680 Net cash flows provided by operating activities 143,514 105,155 88,590 Investing Activities Proceeds from sale of securities available for sale — 815 — Net (increase) decrease in advances to subsidiaries (9,838 ) (6,263 ) 3,285 Payment for further investment in subsidiaries (4,841 ) (71,050 ) (9,060 ) Net cash received in business combinations 3,173 1,089 — Net cash flows (used in) provided by investing activities (11,506 ) (75,409 ) (5,775 ) Financing Activities Net decrease in advance from affiliate 10,018 6,356 (2,797 ) Net decrease in short-term borrowings (179 ) (44 ) (135 ) Decrease in long-term debt (1,510 ) (10,291 ) (650 ) Increase in long-term debt 563 381 98,794 Net proceeds from issuance of common stock 11,181 18,472 12,731 Tax benefit of stock-based compensation — 1,813 28 Cash dividends paid: Preferred stock (8,041 ) (8,041 ) (8,041 ) Common stock (142,618 ) (101,670 ) (84,511 ) Net cash flows (used in) provided by financing activities (130,586 ) (93,024 ) 15,419 Net (Decrease) Increase in Cash and Cash Equivalents 1,422 (63,278 ) 98,234 Cash and cash equivalents at beginning of year 164,276 227,554 129,320 Cash and Cash Equivalents at End of Year $ 165,698 $ 164,276 $ 227,554 Cash paid during the year for: Interest $ 15,807 $ 13,620 $ 8,309 |
Quarterly Earnings Summary (Una
Quarterly Earnings Summary (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Earnings Summary (Unaudited) [Abstract] | |
Quarterly Earnings Summary (Unaudited) | QUARTERLY EARNINGS SUMMARY (UNAUDITED) Dollars in thousands, except per share data Quarter Ended 2017 Dec. 31 Sept. 30 June 30 Mar. 31 Total interest income $ 271,085 $ 263,514 $ 251,034 $ 194,693 Total interest expense 41,049 38,283 32,619 21,941 Net interest income 230,036 225,231 218,415 172,752 Provision for credit losses 16,699 16,768 16,756 10,850 Net securities gains 21 2,777 493 2,625 Other non-interest income 65,083 63,374 65,585 52,491 Total non-interest expense 166,529 163,743 163,714 187,555 Net income 24,126 77,693 74,406 22,979 Net income available to common stockholders 22,115 75,683 72,396 20,969 Per Common Share Basic earnings per share $ 0.07 $ 0.23 $ 0.22 $ 0.09 Diluted earnings per share 0.07 0.23 0.22 0.09 Cash dividends declared 0.12 0.12 0.12 0.12 Quarter Ended 2016 Dec. 31 Sept. 30 June 30 Mar. 31 Total interest income $ 177,168 $ 175,110 $ 170,931 $ 155,754 Total interest expense 17,885 17,604 16,562 15,400 Net interest income 159,283 157,506 154,369 140,354 Provision for credit losses 12,705 14,639 16,640 11,768 Net securities gains 116 299 226 71 Other non-interest income 50,950 52,941 51,185 45,973 Total non-interest expense 123,806 121,050 129,629 136,648 Net income 51,291 52,168 41,300 26,132 Net income available to common stockholders 49,280 50,158 39,290 24,122 Per Common Share Basic earnings per share $ 0.23 $ 0.24 $ 0.19 $ 0.12 Diluted earnings per share 0.23 0.24 0.19 0.12 Cash dividends declared 0.12 0.12 0.12 0.12 |
Summary of Significant Accoun37
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Our accompanying consolidated financial statements and these notes to the financial statements include subsidiaries in which we have a controlling financial interest. We own and operate FNBPA, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC (FNIA), Regency, Bank Capital Services, LLC, and F.N.B. Capital Corporation, LLC, and include results for each of these entities in the accompanying consolidated financial statements. The accompanying consolidated financial statements include all adjustments that are necessary, in the opinion of management, to fairly reflect our financial position and results of operations in accordance with U.S. generally accepted accounting principles (GAAP). All significant intercompany balances and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to the current period presentation. Such reclassifications had no impact on our net income and stockholders’ equity. Events occurring subsequent to the date of the December 31, 2017 balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). |
Use of Estimates | Use of Estimates Our accounting and reporting policies conform with GAAP. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Material estimates that are particularly susceptible to significant changes include the allowance for credit losses, accounting for acquired loans, fair value of financial instruments, goodwill and other intangible assets, litigation and income taxes and deferred tax assets. |
Business Combinations | Business Combinations Business combinations are accounted for by applying the acquisition method . Under the acquisition method, identifiable assets acquired and liabilities assumed, and any non-controlling interest in the acquiree at the acquisition date are measured at their fair values as of that date, and are recognized separately from goodwill. Results of operations of the acquired entities are included in the consolidated statements of income from the date of acquisition. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in transit and amounts due from the Federal Reserve Bank (FRB) and other depository institutions (including interest-bearing deposits). |
Securities | Securities Investment securities, which consist of debt securities and certain equity securities, comprise a significant portion of our consolidated balance sheets. Such securities can be classified as trading, held to maturity or available for sale. As of December 31, 2017 and 2016 , we did not hold any trading securities. Securities held to maturity are comprised of debt securities, for which management has the positive intent and ability to hold until their maturity. Such securities are carried at cost, adjusted for related amortization of premiums and accretion of discounts through interest income from securities, and subject to evaluation for other-than-temporary impairment (OTTI). Securities that are not classified as trading or held to maturity are classified as available for sale. Our available for sale securities portfolio is comprised of debt securities and marketable equity securities. Such securities are carried at fair value with net unrealized gains and losses deemed to be temporary and OTTI attributable to non-credit factors reported separately as a component of other comprehensive income, net of tax. We evaluate our securities in a loss position for OTTI on a quarterly basis at the individual security level based on our intent to sell. If we intend to sell the debt security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, OTTI must be recognized in earnings equal to the entire difference between the investments’ amortized cost basis and its fair value. If we do not intend to sell the debt security and it is not more likely than not that we will be required to sell the security before recovery of its amortized cost basis, OTTI must be separated into the amount representing credit loss and the amount related to all other market factors. The amount related to credit loss will be recognized in earnings. The amount related to other market factors will be recognized in other comprehensive income, net of applicable taxes. We perform our OTTI evaluation process in a consistent and systematic manner and include an evaluation of all available evidence. This process considers factors such as length of time and anticipated recovery period of the impairment, recent events specific to the issuer and recent experience regarding principal and interest payments. |
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements cannot be sold or repledged by the secured party. The fair value of collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or is requested to be returned to us as deemed appropriate. |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities From time to time, we may enter into derivative transactions principally to protect against the risk of adverse price or interest rate movements on the value of certain assets and liabilities and on future cash flows. All derivative instruments are carried at fair value on the balance sheet as either an asset or liability. Accounting for the changes in fair value of a derivative is dependent upon whether or not it has been designated in a formal, qualifying hedging relationship. For derivatives in qualifying hedging relationships, we formally document all relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking each hedge transaction. Changes in fair value of a derivative instrument that has been designated and qualifies as a cash flow hedge are recorded in accumulated other comprehensive income (AOCI), net of tax. Amounts are reclassified from AOCI to the consolidated statements of income in the period or periods in which the hedged transaction affects earnings. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instruments have been highly effective in offsetting changes in fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been or will not continue to be highly effective as a hedge, hedge accounting is discontinued. Derivative gains and losses under cash flow hedges not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the consolidated statements of income. In addition, we enter into interest rate swap agreements to meet the financing, interest rate and equity risk management needs of qualifying commercial loan customers. These agreements provide the customer the ability to convert from variable to fixed interest rates. We then enter into positions with a derivative counterparty in order to offset our exposure on the fixed components of the customer agreements. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. We seek to minimize counterparty credit risk by entering into transactions with only high-quality institutions. These arrangements meet the definition of derivatives, but are not designated as qualifying hedging relationships. The interest rate swap agreement with the loan customer and with the counterparty are reported at fair value in other assets and other liabilities on the consolidated balance sheets with any resulting gain or loss recorded in current period earnings as other income. |
Loans Held for Sale and Loan Commitments | Loans Held for Sale and Loan Commitments Certain of our residential mortgage loans are originated or purchased for sale in the secondary mortgage loan market. Effective January 1, 2017, we made an automatic election to account for all future originated or purchased residential mortgage loans held for sale under the fair value option (FVO). The FVO election is intended to better reflect the underlying economics and better facilitate the economic hedging of the loans. The FVO is applied on an instrument by instrument basis and is an irrevocable election. Additionally, with the election of the FVO, fees and costs associated with the origination and acquisition of residential mortgage loans held for sale are expensed as incurred, rather than deferred. Changes in fair value under the FVO are recorded in mortgage banking operations non-interest income on the consolidated statements of income. Fair value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Prior to the FVO election, loans were generally sold at a premium or discount from the carrying amount of the loan which represented the lower of cost or fair value. Gain or loss on the sale of loans is recorded in mortgage banking operations non-interest income. Interest income on loans held for sale is recorded in interest income. We routinely issue interest rate lock commitments for residential mortgage loans that we intend to sell. These interest rate lock commitments are considered derivatives. We also enter into loan sale commitments to sell these loans when funded to mitigate the risk that the market value of residential mortgage loans may decline between the time the rate commitment is issued to the customer and the time we sell the loan. These loan sale commitments are also derivatives. Both types of derivatives are recorded at fair value on the consolidated balance sheets with changes in fair value recorded in mortgage banking operations non-interest income. We also originate loans guaranteed by the Small Business Administration (SBA) for the purchase of businesses, business startups, business expansion, equipment, and working capital. All SBA loans are underwritten and documented as prescribed by the SBA. Starting in the first quarter of 2017, the guaranteed portion of SBA loans originated with the intention to sell on the secondary market are classified as held for sale and are carried at the lower of cost or fair value. At the time of the sale, we allocate the carrying value of the entire loan between the guaranteed portion sold and the unguaranteed portion retained based on their relative fair value which results in a discount recorded on the retained portion of the loan. The guaranteed portion is typically sold at a premium and the gain is recognized in other income for any net premium received in excess of the relative fair value of the portion of the loan transferred. The net carrying value of the retained portion of the loans is included in the appropriate loan classification for disclosure purposes, primarily commercial real estate or commercial and industrial. |
Loans (Excluding Acquired Loans) | Loans (Excluding Acquired Loans) Loans we intend to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances, net of any deferred origination fees or costs. Interest income on loans is computed over the term of the loans using the effective interest method. 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. |
Non-performing Loans/ Deteriorated Credit Quality | Non-performing Loans Interest is not accrued on loans where collectability is uncertain. We discontinue interest accruals on loans generally when principal or interest is due and has remained unpaid for a certain number of days unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual at 90 days, installment loans are placed on non-accrual at 120 days and residential mortgages and consumer lines of credit are generally placed on non-accrual at 180 days. Past due status is based on the contractual terms of the loan. When a loan is placed on non-accrual status, all unpaid interest is reversed against interest income and the amortization of deferred fees and costs is suspended. Payments subsequently received are generally applied to either principal or interest or both, depending on management’s evaluation of collectability. A loan is returned to accrual status when principal and interest are no longer past due and collectability is probable. This generally requires a sustained period of timely principal and interest payments. 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. Recoveries of amounts previously charged off are credited to the allowance for credit losses. We consider a loan impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. The impairment loss is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral, less estimated selling costs, if the loan is collateral dependent. Acquired impaired loans are not classified as non-performing assets as the loans are considered to be performing. Restructured loans are those in which concessions of terms have been made as a result of deterioration in a borrower’s financial condition. In general, the modification or restructuring of a debt constitutes a troubled debt restructuring (TDR) if we for economic or legal reasons related to the borrower’s financial difficulties grant a concession to the borrower that we would not otherwise consider under current market conditions. Debt restructurings or loan modifications for a borrower occur in the normal course of business and do not necessarily constitute TDRs. To designate a loan as a TDR, the presence of both borrower financial distress and a concession of terms must exist. Additionally, a loan designated as a TDR does not necessarily result in the automatic placement of the loan on non-accrual status. When the full collection of principal and interest is reasonably assured on a loan designated as a TDR and the borrower does not otherwise meet the criteria for non-accrual status, we will continue to accrue interest on the loan. A restructured acquired loan that is accounted for as a component of a pool in accordance is not considered a TDR. |
Allowance for Credit Losses | Allowance for Credit Losses The allowance for credit losses is established as losses are estimated to have occurred through a provision charged to earnings. Loan losses are charged against the allowance for credit losses when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance for credit losses. Allowances for impaired commercial loans over $500,000 are generally determined based on collateral values or the present value of estimated cash flows. All other impaired loans are evaluated in the aggregate based on loan segment loss given default. Changes in the allowance for credit losses related to impaired loans are charged or credited to the provision for credit losses. The allowance for credit losses is maintained at a level that, in management’s judgment, is believed appropriate to absorb probable losses associated with specifically identified loans, as well as estimated probable credit losses inherent in the remainder of the loan portfolio. The appropriateness of the allowance for credit losses is based on management’s evaluation of potential loan losses in the loan portfolio, which includes an assessment of past experience, current economic conditions in specific industries and geographic areas, general economic conditions, known and inherent risks in the loan portfolio, the estimated value of underlying collateral and residuals and changes in the composition of the loan portfolio. Determination of the allowance for credit losses is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on transition matrices with predefined loss emergence periods and consideration of qualitative factors, all of which are susceptible to significant change. |
Acquired Loans | Acquired Loans Acquired loans (impaired and non-impaired) are initially recorded at their acquisition-date fair values. Fair values are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, default rates, loss severity, collateral values, discount rates, payment speeds, prepayment risk, and liquidity risk. The carryover of allowance for credit losses related to acquired loans is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. The allowance for credit losses on acquired loans reflects only those losses incurred after acquisition and represents the present value of cash flows expected at acquisition that is no longer expected to be collected. At acquisition, we consider the following factors as indicators that an acquired loan has evidence of deterioration in credit quality and is therefore impaired and in the scope of ASC 310-30: • loans that were 90 days or more past due; • loans that had an internal risk rating of substandard or worse. Substandard is consistent with regulatory definitions and is defined as having a well-defined weakness that jeopardizes liquidation of the loan; • loans that were classified as non-accrual by the acquired bank at the time of acquisition; or • loans that had been previously modified in a TDR. Any acquired loans that were not individually in the scope of ASC 310-30 because they didn’t meet the criteria above were pooled into groups of similar loans based on various factors including borrower type, loan purpose, and collateral type. For these pools, we used certain loan information, including outstanding principal balance, estimated expected losses, weighted average maturity, weighted average margin, and weighted average interest rate along with estimated prepayment rates, probability of default and loss given default to estimate the expected cash flow for each loan pool. We believe analogizing to ASC 310-30 is the more appropriate option to follow in accounting for discount accretion on non-impaired acquired loans other than revolving loans and therefore account for such loans in accordance with ASC 310-30. ASC 310-30 guidance does not apply to revolving loans. Consequently, discount accretion on revolving loans acquired is accounted for using the ASC 310-20 approach. The excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield. The accretable yield is recognized into income over the remaining life of the loan, or pool of loans, using an effective yield method, if the timing and/or amount of cash flows expected to be collected can be reasonably estimated (the accretion model). If the timing and/or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition must be used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected at acquisition is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which we do not expect to collect. Over the life of the acquired loan, we continue to estimate cash flows expected to be collected. Decreases in expected cash flows, other than from prepayments or rate adjustments, are recognized as impairments through a charge to the provision for credit losses resulting in an increase in the allowance for credit losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized on a prospective basis over the loan’s remaining life. Acquired loans that met the criteria for non-accrual of interest prior to acquisition are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, we do not consider acquired contractually delinquent loans to be non-accrual or non-performing and continue to recognize interest income on these loans using the accretion model. |
Premises and Equipment | Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the asset’s estimated useful life. Leasehold improvements are expensed over the lesser of the asset’s estimated useful life or the term of the lease including renewal periods when reasonably assured. Useful lives are dependent upon the nature and condition of the asset and range from 3 to 40 years. Maintenance and repairs are charged to expense as incurred, while major improvements are capitalized and amortized to expense over the identified useful life. Premises and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. |
Cloud Computing Arrangements | Cloud Computing Arrangements Beginning in 2016, for new or materially modified contracts, we prospectively adopted new accounting principles to evaluate fees paid for cloud computing arrangements to determine if those arrangements include the purchase of or license to use software that should be accounted for separately as internal-use software. If a contract includes the purchase or license to use software that should be accounted for separately as internal-use software, the contract is amortized over the software’s identified useful life in amortization of intangibles. For contracts that do not include a software license, the contract is accounted for as a service contract with fees paid recorded in other non-interest expense. |
Other Real Estate Owned | Other Real Estate Owned Other real estate owned (OREO) is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is included in other assets initially at the lower of estimated fair value of the asset less estimated selling costs or the carrying amount of the loan. Changes to the value subsequent to transfer are recorded in non-interest expense along with direct operating expenses. Gains or losses not previously recognized resulting from sales of OREO are recognized in non-interest expense on the date of sale. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. Intangible assets that have finite lives, such as core deposit intangibles, customer relationship intangibles and renewal lists, are amortized over their estimated useful lives and subject to periodic impairment testing. Core deposit intangibles are primarily amortized over ten years using accelerated methods. Customer renewal lists are amortized over their estimated useful lives which range from eight to thirteen years . Goodwill and other intangibles are subject to impairment testing at the reporting unit level, which must be conducted at least annually. We perform impairment testing during the fourth quarter of each year, or more frequently if impairment indicators exist. We also continue to monitor other intangibles for impairment and to evaluate carrying amounts, as necessary. Determining the fair value of a reporting unit under the goodwill impairment test is judgmental and often involves the use of significant estimates and assumptions. Similarly, estimates and assumptions are used in determining the fair value of other intangible assets. Estimates of fair value are primarily determined using discounted cash flows, market comparisons and recent transactions. These approaches use significant estimates and assumptions including projected future cash flows, discount rates reflecting the market rate of return, projected growth rates and determination and evaluation of appropriate market comparables. However, future events could cause us to conclude that goodwill or other intangibles have become impaired, which would result in recording an impairment loss. Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations. |
Loan Servicing Rights | Loan Servicing Rights We have two primary classes of servicing rights, residential mortgage loan servicing and SBA-guaranteed loan servicing. We recognize the right to service residential mortgage loans and SBA-guaranteed loans for others as an asset whether we purchase the servicing rights or as a result from a sale of loans that we originate when the servicing is contractually separated from the underlying loan and retained by us. We initially record servicing rights at fair value in other assets, net on the consolidated balance sheet. Subsequently, servicing rights are measured at the lower of cost or fair value. Servicing rights are amortized in proportion to, and over the period of, estimated net servicing income in mortgage banking operations income for residential mortgage loans and non-interest income for SBA-guaranteed loans. The amount and timing of estimated future net cash flows are updated based on actual results and updated projections. Mortgage servicing rights (MSRs) are separated into pools based on common risk characteristics of the underlying loans and evaluated for impairment at least quarterly. SBA-guaranteed servicing rights are evaluated for impairment at least quarterly on an aggregate basis. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. If impairment exists at the pool level for residential mortgage loans or on an aggregate basis for SBA-guaranteed loans, the servicing right is written down through a valuation allowance and is charged against mortgage banking operations income or non-interest income, respectively. |
Bank-Owned Life Insurance (BOLI) | Bank-Owned Life Insurance (BOLI) We have purchased life insurance policies on certain current and former directors, officers and employees for which the Corporation is the owner and beneficiary. These policies are recorded in the consolidated balance sheet at their cash surrender value, or the amount that could be realized by surrendering the policies. Tax-exempt income from death benefits and changes in the net cash surrender value are recorded in bank owned life insurance income. |
Low Income Housing Tax Credit Partnerships | Low Income Housing Tax Credit Partnerships We invest in various affordable housing projects that qualify for low income housing tax credits (LIHTCs). The net investments are recorded in other assets on the consolidated balance sheets. These investments generate a return through the realization of federal tax credits. We use the proportional amortization method to account for a majority of our investments in these entities. LIHTCs that do not meet the requirements of the proportional amortization method are recognized using the equity method. |
Income Taxes | Income Taxes We file a consolidated federal income tax return. The provision for federal and state income taxes is based on income reported on the consolidated financial statements, rather than the amounts reported on the respective income tax returns. Deferred tax assets and liabilities are computed using tax rates expected to apply to taxable income in the years in which those assets and liabilities are expected to be realized. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized as income or expense in the period that the change in tax rates is enacted. Beginning in the fourth quarter of 2017, we made an accounting policy election to reclassify the stranded tax effects that relate to a change in the federal tax rate from AOCI to retained earnings in accordance with newly adopted accounting guidance. We believe this change in accounting policy reduces the cost and complexity of accounting for stranded tax effects due to a change in federal tax rates. We make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments are applied in the calculation of certain tax credits and in the calculation of the deferred income tax expense or benefit associated with certain deferred tax assets and liabilities. Significant changes to these estimates may result in an increase or decrease to our tax provision in a subsequent period. We recognize interest and/or penalties related to income tax matters in income tax expense. We assess the likelihood that we will be able to recover our deferred tax assets. If recovery is not likely, we will increase our provision for income taxes by recording a valuation allowance against the deferred tax assets that are unlikely to be recovered. We believe that we will ultimately recover the deferred tax assets recorded on our balance sheet. However, should there be a change in our ability to recover our deferred tax assets, the effect of this change would be recorded through the provision for income taxes in the period during which such change occurs. We periodically review the tax positions we take on our tax return and apply a more likely than not recognition threshold for all tax positions that are uncertain. The amount recognized in the financial statements is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. |
Marketing Costs | Marketing Costs Marketing costs are generally expensed as incurred. |
Per Share Amounts | Per Share Amounts Earnings per common share is computed using net income available to common stockholders, which is net income adjusted for preferred stock dividends. Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding, net of unvested shares of restricted stock. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding, adjusted for the dilutive effect of potential common shares issuable for stock options, warrants and restricted shares, as calculated using the treasury stock method. Adjustments to net income available to common stockholders and the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. Beginning in 2017, the assumed proceeds from applying the treasury stock method when computing diluted earnings per share excludes the amount of excess tax benefits that would have been recognized in accumulated paid-in capital in accordance with newly adopted accounting guidance. |
Retirement Plans | Retirement Plans FNB sponsors retirement plans for our employees. The calculation of the obligations and related expenses under these plans requires use of actuarial valuation methods and assumptions. The plans utilize assumptions and methods including reflecting trust assets at their fair value for the qualified pension plans and recognizing the overfunded and underfunded status of the plans on our consolidated balance sheets. Gains and losses, prior service costs and credits are recognized in AOCI, net of tax, until they are amortized, or immediately upon curtailment. |
Stock Based Compensation | Stock-Based Compensation Our stock based compensation awards requires the measurement and recognition of compensation expense, based on estimated fair values, for all stock-based awards, including stock options and restricted stock, made to employees and directors. We are required to estimate the fair value of stock-based awards on the date of grant. The value of the award is recognized as expense in our consolidated statements of comprehensive income over the shorter of requisite service periods or the period through the date that the employee first becomes eligible to retire. Some of our plans contain performance targets that affect vesting and can be achieved after the requisite service period and are accounted for as performance conditions. Performance targets are not reflected in the estimation of the award’s grant date fair value. Compensation cost for awards with non-market based performance targets is recognized in the period in which it becomes probable that the performance condition will be achieved. Compensation cost for awards with market based performance targets is recognized based on the award’s grant date fair value. Prior to 2017, because stock-based compensation expense was based on awards that are ultimately expected to vest, stock-based compensation expense was reduced to account for estimated forfeitures. Beginning in 2017, we elected to change our accounting policy to account for forfeitures as they occur. The estimate for forfeitures prior to this election was immaterial to our consolidated financial statements. We believe this change in accounting policy reduces the cost and complexity of accounting for stock-based compensation and is preferable to estimating forfeitures at the time of grant. |
New Accounting Standards | The following paragraphs summarize accounting pronouncements issued by the Financial Accounting Standards Board (FASB) that we recently adopted or will be adopting in the future. Reporting Comprehensive Income Accounting Standards Update (ASU or Update) 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , allows for the reclassification from other comprehensive income to retained earnings for stranded tax effects resulting from the enacted tax bill H.R.1, commonly referred to as the Tax Cuts and Jobs Act (the TCJA). The Update also allows an accounting policy election to reclassify other stranded tax effects that relate to the TCJA but not directly related to the change in federal tax rate. This Update is effective in the first quarter of 2019. Early adoption is permitted for reporting periods for which financial statements have not yet been issued. We adopted this Update in the fourth quarter of 2017 by retrospective application. Upon adoption, the Corporation made a policy election to reclassify stranded tax effects of approximately $14.7 million from AOCI to retained earnings using the specific identification method. Stock-Based Compensation ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting , provides guidance about which changes to the terms and conditions of a share-based payment award requires the application of modification accounting. The Update is effective in the first quarter of 2018. Early adoption is permitted. This Update was adopted in the third quarter of 2017 by prospective application to awards modified on or after the adoption date. This Update did not have a material effect on our consolidated financial statements. ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The Update was adopted in the first quarter of 2017 by an application method determined by the type of transaction impacted by the adoption. This Update did not have a material effect on our consolidated financial statements. Securities ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities which shortens the amortization period for the premium on certain purchased callable securities to the earliest call date. The accounting for purchased callable debt securities held at a discount does not change. The Update is effective in the first quarter of 2019. Early adoption is permitted. The Update is to be applied using a modified retrospective transition method and is not expected to have a material effect on our consolidated financial statements. Retirement Benefits ASU 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, requires that an employer disaggregate the service cost component from the other components of net benefit cost. The amendments also provide explicit guidance on how to present the service cost component and the other components of net benefit cost in the income statement and allows only the service cost component of net benefit cost to be eligible for capitalization. The Update is effective the first quarter of 2018. Early adoption is permitted. The Update is to be applied using a retrospective transition method to adopt the requirement for separate presentation in the income statement of service costs and other components and a prospective transition method to adopt the requirement to limit the capitalization of benefit costs to the service cost component. This Update is not expected to have a material effect on our consolidated financial statements. Goodwill ASU 2017-04, Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , eliminates the requirement of Step 2 in the current guidance to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value in Step 1 of the current guidance. The Update is effective the first quarter of 2020. Early adoption is permitted for annual or interim goodwill impairment tests with a measurement date after January 1, 2017. We adopted this Update in the first quarter of 2017 and it did not have a material effect on our consolidated financial statements. Business Combinations ASU 2017-01, Business Combinations (Topic 850): Clarifying the Definition of a Business , clarifies the definition of a business with the objective of providing guidance to assist in the evaluation of whether transactions should be accounted for as acquisitions (disposals) of assets or businesses. The Update is effective for the first quarter of 2018. Early adoption is permitted for transactions that occurred before the issuance date or effective date of the Update if the transactions were not reported in financial statements that have been issued or made available for issuance. We adopted this Update in the first quarter of 2017. This Update is applied prospectively and did not have a material effect on our consolidated financial statements. Statement of Cash Flows ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force), adds or clarifies guidance on eight cash flow issues. The Update is effective the first quarter of 2018. This Update will be applied retrospectively to all periods presented. Early adoption is permitted. This Update is not expected to have a material effect on our consolidated financial statements. Credit Losses ASU 2016-13 , Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , replaces the current incurred loss impairment methodology with a methodology that reflects current expected credit losses (commonly referred to as “CECL”) for most financial assets measured at amortized cost and certain other instruments, including loans, held-to-maturity debt securities, net investments in leases and off-balance sheet credit exposures. CECL requires loss estimates for the remaining life of the financial asset at the time the asset is originated or acquired, considering historical experience, current conditions and reasonable and supportable forecasts. In addition, the Update will require the use of a modified available-for-sale debt security impairment model and eliminate the current accounting for purchased credit impaired loans and debt securities. The Update is effective the first quarter of 2020 under a cumulative-effect adjustment to retained earnings. Early adoption is permitted for fiscal years beginning after December 15, 2018. The CECL model is a significant change from existing GAAP and may result in a material change to the Corporation’s accounting for financial instruments. We are reviewing our business processes, information systems and controls to support recognition and disclosures under this Update. This review includes an assessment of our existing credit models and the financial statement disclosure requirements. The impact of this Update will be dependent on the portfolio composition, credit quality and economic conditions at the time of adoption. Revenue Recognition ASU 2014-09, Revenue from Contracts with Customers (Topic 606), modifies the guidance used to recognize revenue from contracts with customers for transfers of goods and services and transfers of nonfinancial assets, unless those contracts are within the scope of other guidance. The guidance also requires new qualitative and quantitative disclosures about contract balances and performance obligations. We will adopt ASU 2014-09 in the first quarter of 2018 under the modified retrospective method where the cumulative effect is recognized at the date of initial application. Based on our evaluation under the current guidance, we estimate that substantially all of our interest income and non-interest income will not be impacted by the adoption of this ASU because either the revenue from those contracts with customers is covered by other guidance in U.S. GAAP or the revenue recognition outcomes anticipated with the adoption of this ASU will likely be similar to our current revenue recognition practices. In addition, we reviewed, and where necessary, enhanced our business processes, systems and controls to support recognition and disclosures under the new standard. The adoption of this Update is not expected to have a material effect on our consolidated financial statements. Investments ASU 2016-07, Investments—Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting, eliminates the requirement for an investor to retrospectively apply the equity method when an investment that it had accounted for by another method qualifies for use of the equity method. The Update was adopted in the first quarter of 2017 by prospective application. This Update did not have a material effect on our consolidated financial statements. Derivative and Hedging Activities ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , improves the financial reporting of hedging to better align with the entity’s risk management activities. In addition, this Update makes certain targeted improvements to simplify the application of the current hedge accounting guidance. The Update is effective in the first quarter of 2019 by modified retrospective method. The presentation and disclosure guidance are applied prospectively. Early adoption is permitted. We are currently assessing the potential impact to our consolidated financial statements. ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (a consensus of the Emerging Issues Task Force), provides clarification that determination of whether an embedded contingent put or call option in a financial instrument is clearly and closely related to the debt host requires only an analysis of the four-step decision sequence described in ASC 815-15-25-42. The Update was adopted in the first quarter of 2017 by modified retrospective application. This Update did not have a material effect on our consolidated financial statements. ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the Emerging Issues Task Force), clarifies that a change in counterparty to a derivative instrument that has been designated as a hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided all other hedge accounting criteria continue to be met. The Update was adopted in the first quarter of 2017 by prospective application. This Update did not have a material effect on our consolidated financial statements. Extinguishments of Liabilities ASU 2016-04, Liabilities—Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the Emerging Issues Task Force), requires entities that sell prepaid stored-value products redeemable for goods, services or cash at third-party merchants to recognize breakage. The Update is effective in the first quarter of 2018 with either the modified retrospective method by means of a cumulative-effect adjustment to retained earnings or retrospective application. Early adoption is permitted. This Update is not expected to have a material effect on our consolidated financial statements. Leases ASU 2016-02, Leases (Topic 842), requires lessees to put most leases on their balance sheets but recognize expenses in the income statement similar to current accounting. In addition, the Update changes the guidance for sale-leaseback transactions, initial direct costs and lease executory costs for most entities. All entities will classify leases to determine how to recognize lease related revenue and expense. The Update is effective in the first quarter of 2019 with modified retrospective application including a number of optional practical expedients. Early adoption is permitted. We are currently assessing the potential impact to our consolidated financial statements. Financial Instruments – Recognition and Measurement ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, amends the presentation and accounting for certain financial instruments, including liabilities measured at fair value under the fair value option, and equity investments. The guidance also updates fair value presentation and disclosure requirements for financial instruments measured at amortized cost. The Update is effective in the first quarter of 2018 with a cumulative-effect adjustment as of the beginning of the fiscal year of adoption. Early adoption is prohibited except for the provision requiring the recognition of changes in fair value related to changes in an entity’s own credit risk in other comprehensive income for financial liabilities measured using the fair value option. This Update is not expected to have a material effect on our consolidated financial statements. |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Business Acquisition [Line Items] | |
Amounts Recorded on Consolidated Balance Sheets in Conjunction with Acquisition | The following table summarizes the amounts recorded on the consolidated balance sheets as of each of the acquisition dates in conjunction with the acquisitions discussed above: (in thousands) YDKN Fifth Third Branches METR BofA Branches Fair value of consideration paid $ 1,784,783 $ — $ 404,242 $ — Fair value of identifiable assets acquired: Cash and cash equivalents 196,964 198,872 46,890 148,159 Securities 940,272 — 722,980 — Loans 5,114,355 95,354 1,862,447 842 Core deposit and other intangible assets 69,555 4,129 24,163 3,000 Fixed and other assets 461,293 14,069 127,185 1,133 Total identifiable assets acquired 6,782,439 312,424 2,783,665 153,134 Fair value of liabilities assumed: Deposits 5,176,915 302,529 2,328,238 154,619 Borrowings 969,385 — 227,539 — Other liabilities 68,264 24,041 8,700 — Total liabilities assumed 6,214,564 326,570 2,564,477 154,619 Fair value of net identifiable assets acquired 567,875 (14,146 ) 219,188 (1,485 ) Goodwill recognized (1) $ 1,216,908 $ 14,146 $ 185,054 $ 1,485 (1) All of the goodwill for these transactions has been recorded in the Community Banking segment. |
Yadkin Financial Corporation (YDKN) | |
Business Acquisition [Line Items] | |
Measurement period adjustments | The following table presents the provisional estimate and fair value amounts recorded for certain acquired items: (in thousands) Acquired Asset or Liability Balance Sheet Line Item Provisional Estimate Fair Value Increase (Decrease) Loans and leases Loans and leases, net $ 5,116,497 $ 5,114,355 $ (2,142 ) Premises and equipment Premises and equipment, net 95,208 70,031 (25,177 ) Deferred taxes Other assets 94,307 125,100 30,793 Other liabilities Other liabilities 70,761 68,264 (2,497 ) |
Business Acquisition Pro Forma Information | The following pro forma financial information for the periods presented reflects our estimated consolidated pro forma results of operations as if the YDKN acquisition occurred on January 1, 2016, unadjusted for potential cost savings and other business synergies we expect to receive as a result of the acquisition: (dollars in thousands, except per share data) FNB YDKN Pro Forma Adjustments Pro Forma Combined Twelve Months Ended December 31, 2017 Revenue (net interest income and non-interest income) $ 1,077,984 $ 74,574 $ 3,419 $ 1,155,977 Net income 227,478 22,435 (1,165 ) 248,748 Net income available to common stockholders 219,437 22,435 (1,165 ) 240,707 Earnings per common share – basic 0.92 0.78 — 0.80 Earnings per common share – diluted 0.91 0.77 — 0.79 Twelve Months Ended December 31, 2016 Revenue $ 813,273 $ 293,655 $ (5,290 ) $ 1,101,638 Net income 170,891 55,168 (7,862 ) 218,197 Net income available to common stockholders 162,850 55,168 (7,862 ) 210,156 Earnings per common share – basic 0.79 1.15 — 0.67 Earnings per common share – diluted 0.78 1.14 — 0.67 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Amortized Cost and Fair Value of Securities Available for Sale | The amortized cost and fair value of securities are as follows: (in thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale (AFS): December 31, 2017 U.S. Treasury $ — $ — $ — $ — U.S. government-sponsored entities 347,767 52 (3,877 ) 343,942 Residential mortgage-backed securities: Agency mortgage-backed securities 1,615,168 1,225 (17,519 ) 1,598,874 Agency collateralized mortgage obligations 813,034 — (18,077 ) 794,957 Non-agency collateralized mortgage obligations 1 — — 1 Commercial mortgage-backed securities — — — — States of the U.S. and political subdivisions 21,151 6 (64 ) 21,093 Other debt securities 4,913 — (243 ) 4,670 Total debt securities 2,802,034 1,283 (39,780 ) 2,763,537 Equity securities 587 438 — 1,025 Total securities available for sale $ 2,802,621 $ 1,721 $ (39,780 ) $ 2,764,562 December 31, 2016 U.S. Treasury $ 29,874 $ 79 $ — $ 29,953 U.S. government-sponsored entities 367,604 864 (3,370 ) 365,098 Residential mortgage-backed securities: Agency mortgage-backed securities 1,267,535 2,257 (16,994 ) 1,252,798 Agency collateralized mortgage obligations 546,659 419 (11,104 ) 535,974 Non-agency collateralized mortgage obligations 891 6 — 897 Commercial mortgage-backed securities 1,292 — (1 ) 1,291 States of the U.S. and political subdivisions 36,065 86 (302 ) 35,849 Other debt securities 9,828 94 (435 ) 9,487 Total debt securities 2,259,748 3,805 (32,206 ) 2,231,347 Equity securities 273 367 — 640 Total securities available for sale $ 2,260,021 $ 4,172 $ (32,206 ) $ 2,231,987 |
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity | (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Held to Maturity (HTM): December 31, 2017 U.S. Treasury $ 500 $ 134 $ — $ 634 U.S. government-sponsored entities 247,310 93 (4,388 ) 243,015 Residential mortgage-backed securities: Agency mortgage-backed securities 1,219,802 3,475 (9,058 ) 1,214,219 Agency collateralized mortgage obligations 777,146 32 (20,095 ) 757,083 Non-agency collateralized mortgage obligations — — — — Commercial mortgage-backed securities 80,786 414 (575 ) 80,625 States of the U.S. and political subdivisions 916,724 13,209 (7,130 ) 922,803 Total securities held to maturity $ 3,242,268 $ 17,357 $ (41,246 ) $ 3,218,379 December 31, 2016 U.S. Treasury $ 500 $ 137 $ — $ 637 U.S. government-sponsored entities 272,645 348 (4,475 ) 268,518 Residential mortgage-backed securities: Agency mortgage-backed securities 852,215 5,654 (8,645 ) 849,224 Agency collateralized mortgage obligations 743,148 447 (17,801 ) 725,794 Non-agency collateralized mortgage obligations 1,689 3 (6 ) 1,686 Commercial mortgage-backed securities 49,797 181 (226 ) 49,752 States of the U.S. and political subdivisions 417,348 1,456 (19,638 ) 399,166 Total securities held to maturity $ 2,337,342 $ 8,226 $ (50,791 ) $ 2,294,777 |
Gross Gains and Gross Losses Realized on Sales of Securities | Gross gains and gross losses were realized on securities as follows: Year Ended December 31 2017 2016 2015 (in thousands) Gross gains $ 6,866 $ 713 $ 831 Gross losses (950 ) (1 ) (9 ) Net gains $ 5,916 $ 712 $ 822 |
Amortized Cost and Fair Value of Securities, by Contractual Maturities | As of December 31, 2017 , the amortized cost and fair value of securities, by contractual maturities, were as follows: Available for Sale Held to Maturity (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 81,819 $ 81,594 $ 30,438 $ 30,254 Due from one to five years 278,153 274,516 225,054 220,921 Due from five to ten years 10,892 10,795 81,650 82,672 Due after ten years 2,967 2,800 827,392 832,605 373,831 369,705 1,164,534 1,166,452 Residential mortgage-backed securities: Agency mortgage-backed securities 1,615,168 1,598,874 1,219,802 1,214,219 Agency collateralized mortgage obligations 813,034 794,957 777,146 757,083 Non-agency collateralized mortgage obligations 1 1 — — Commercial mortgage-backed securities — — 80,786 80,625 Equity securities 587 1,025 — — Total securities $ 2,802,621 $ 2,764,562 $ 3,242,268 $ 3,218,379 |
Schedule of Securities Pledged as Collateral | Following is information relating to securities pledged: December 31 2017 2016 (dollars in thousands) Securities pledged (carrying value): To secure public deposits, trust deposits and for other purposes as required by law $ 3,491,634 $ 2,779,335 As collateral for short-term borrowings 263,756 322,038 Securities pledged as a percent of total securities 62.5 % 67.9 % |
Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment | Following are summaries of the fair values and unrealized losses of temporarily impaired securities, segregated by length of impairment: Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Value Unrealized Losses # Fair Value Unrealized Losses # Fair Value Unrealized Losses Securities Available for Sale: December 31, 2017 U.S. government-sponsored entities 7 $ 106,809 $ (363 ) 10 $ 201,485 $ (3,514 ) 17 $ 308,294 $ (3,877 ) Residential mortgage-backed securities: Agency mortgage-backed securities 43 976,738 (7,723 ) 28 473,625 (9,796 ) 71 1,450,363 (17,519 ) Agency collateralized mortgage obligations 14 409,005 (6,231 ) 33 335,452 (11,846 ) 47 744,457 (18,077 ) Non-agency collateralized mortgage obligations — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — States of the U.S. and political subdivisions 7 11,254 (55 ) 1 879 (9 ) 8 12,133 (64 ) Other debt securities — — — 3 4,670 (243 ) 3 4,670 (243 ) Equity securities — — — — — — — — — Total temporarily impaired securities AFS 71 $ 1,503,806 $ (14,372 ) 75 $ 1,016,111 $ (25,408 ) 146 $ 2,519,917 $ (39,780 ) December 31, 2016 U.S. government-sponsored entities 11 $ 211,636 $ (3,370 ) — $ — $ — 11 $ 211,636 $ (3,370 ) Residential mortgage-backed securities: Agency mortgage-backed securities 55 1,056,731 (16,994 ) — — — 55 1,056,731 (16,994 ) Agency collateralized mortgage obligations 26 346,662 (7,261 ) 9 89,040 (3,843 ) 35 435,702 (11,104 ) Commercial mortgage-backed securities 1 1,291 (1 ) — — — 1 1,291 (1 ) States of the U.S. and political subdivisions 20 28,631 (302 ) — — — 20 28,631 (302 ) Other debt securities — — — 3 4,470 (435 ) 3 4,470 (435 ) Total temporarily impaired securities AFS 113 $ 1,644,951 $ (27,928 ) 12 $ 93,510 $ (4,278 ) 125 $ 1,738,461 $ (32,206 ) Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Value Unrealized Losses # Fair Value Unrealized Losses # Fair Value Unrealized Losses Securities Held to Maturity: December 31, 2017 U.S. government-sponsored entities 4 $ 54,790 $ (239 ) 10 $ 185,851 $ (4,149 ) 14 $ 240,641 $ (4,388 ) Residential mortgage-backed securities: Agency mortgage-backed securities 36 648,485 (4,855 ) 11 183,989 (4,203 ) 47 832,474 (9,058 ) Agency collateralized mortgage obligations 14 275,290 (1,701 ) 35 473,257 (18,394 ) 49 748,547 (20,095 ) Non-agency collateralized mortgage obligations — — — — — — — — — Commercial mortgage-backed securities 3 26,399 (123 ) 2 19,443 (452 ) 5 45,842 (575 ) States of the U.S. and political subdivisions 16 56,739 (933 ) 37 121,536 (6,197 ) 53 178,275 (7,130 ) Total temporarily impaired securities HTM 73 $ 1,061,703 $ (7,851 ) 95 $ 984,076 $ (33,395 ) 168 $ 2,045,779 $ (41,246 ) December 31, 2016 U.S. government-sponsored entities 10 $ 185,525 $ (4,475 ) — $ — $ — 10 $ 185,525 $ (4,475 ) Residential mortgage-backed securities: Agency mortgage-backed securities 36 551,404 (8,645 ) — — — 36 551,404 (8,645 ) Agency collateralized mortgage obligations 29 516,237 (13,710 ) 12 112,690 (4,091 ) 41 628,927 (17,801 ) Non-agency collateralized mortgage obligations 3 1,128 (6 ) — — — 3 1,128 (6 ) Commercial mortgage-backed securities 1 12,317 (10 ) 1 8,267 (216 ) 2 20,584 (226 ) States of the U.S. and political subdivisions 94 247,301 (19,638 ) — — — 94 247,301 (19,638 ) Total temporarily impaired securities HTM 173 $ 1,513,912 $ (46,484 ) 13 $ 120,957 $ (4,307 ) 186 $ 1,634,869 $ (50,791 ) |
Summary of Cumulative Credit-Related OTTI Charges | The following table presents a summary of the cumulative credit-related OTTI charges recognized as components of earnings for securities for which a portion of an OTTI is recognized in other comprehensive income: (in thousands) Equities Total For the Year Ended December 31, 2016 Beginning balance $ 27 $ 27 Loss where impairment was not previously recognized — — Additional loss where impairment was previously recognized — — Reduction due to credit impaired securities sold (27 ) (27 ) Ending balance $ — $ — |
Loans and Leases (Tables)
Loans and Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Summary of Loans and Leases, Net of Unearned Income | Following is a summary of loans and leases, net of unearned income: (in thousands) Originated Loans and Leases Acquired Loans Total Loans and Leases December 31, 2017 Commercial real estate $ 5,174,783 $ 3,567,081 $ 8,741,864 Commercial and industrial 3,495,247 675,420 4,170,667 Commercial leases 266,720 — 266,720 Other 17,063 — 17,063 Total commercial loans and leases 8,953,813 4,242,501 13,196,314 Direct installment 1,755,713 149,822 1,905,535 Residential mortgages 2,036,226 666,465 2,702,691 Indirect installment 1,448,268 165 1,448,433 Consumer lines of credit 1,151,470 594,323 1,745,793 Total consumer loans 6,391,677 1,410,775 7,802,452 Total loans and leases, net of unearned income $ 15,345,490 $ 5,653,276 $ 20,998,766 December 31, 2016 Commercial real estate $ 4,095,817 $ 1,339,345 $ 5,435,162 Commercial and industrial 2,711,886 330,895 3,042,781 Commercial leases 196,636 — 196,636 Other 35,878 — 35,878 Total commercial loans and leases 7,040,217 1,670,240 8,710,457 Direct installment 1,765,257 79,142 1,844,399 Residential mortgages 1,446,776 397,798 1,844,574 Indirect installment 1,196,110 203 1,196,313 Consumer lines of credit 1,099,627 201,573 1,301,200 Total consumer loans 5,507,770 678,716 6,186,486 Total loans and leases, net of unearned income $ 12,547,987 $ 2,348,956 $ 14,896,943 |
Certain Information Relating to Regency Consumer Finance Loans | The following table shows certain information relating to the Regency consumer finance loans: December 31 2017 2016 (dollars in thousands) Regency consumer finance loans $ 174,916 $ 184,687 Percent of total loans and leases 0.8 % 1.2 % |
Certain Information Relating to Commercial Real Estate Loans | The following table shows certain information relating to commercial real estate loans: December 31 2017 2016 (dollars in thousands) Commercial construction, acquisition and development loans $ 1,170,175 $ 597,617 Percent of total loans and leases 5.6 % 4.0 % Commercial real estate: Percent owner-occupied 35.3 % 36.2 % Percent non-owner-occupied 64.7 % 63.8 % |
Summary of Loans to Related Parties | Following is a summary of the activity for these loans to related parties during 2017 : (in thousands) Balance at beginning of period $ 21,569 New loans 1,171 Repayments (3,447 ) Other 518 Balance at end of period $ 19,811 |
Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans | The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheets are as follows: December 31 2017 2016 (in thousands) Accounted for under ASC 310-30: Outstanding balance $ 5,176,015 $ 2,346,687 Carrying amount 4,834,256 2,015,904 Accounted for under ASC 310-20: Outstanding balance 835,130 342,015 Carrying amount 812,322 325,784 Total acquired loans: Outstanding balance 6,011,145 2,688,702 Carrying amount 5,646,578 2,341,688 |
Summary of Change in Accretable Yield of Acquired Loans | The following table provides changes in accretable yield for all acquired loans accounted for under ASC 310-30. Loans accounted for under ASC 310-20 are not included in this table. Year Ended December 31 2017 2016 (in thousands) Balance at beginning of period $ 467,070 $ 256,120 Acquisitions 444,715 308,312 Reduction due to unexpected early payoffs (127,949 ) (86,046 ) Reclass from non-accretable difference 155,840 92,823 Disposals/transfers (3,559 ) (409 ) Other (658 ) — Accretion (226,978 ) (103,730 ) Balance at end of period $ 708,481 $ 467,070 |
Summary of Acquisition of Purchased Loans | The following table reflects amounts at acquisition for all purchased loans subject to ASC 310-30 (impaired and non-impaired loans with deteriorated credit quality) acquired from YDKN in 2017 based on the fair value as described in Note 3. (in thousands) Acquired Impaired Loans Acquired Performing Loans Total Contractually required cash flows at acquisition $ 46,053 $ 5,085,712 $ 5,131,765 Non-accretable difference (expected losses and foregone interest) (23,924 ) (406,173 ) (430,097 ) Cash flows expected to be collected at acquisition 22,129 4,679,539 4,701,668 Accretable yield (3,266 ) (441,449 ) (444,715 ) Fair value of acquired loans at acquisition $ 18,863 $ 4,238,090 $ 4,256,953 |
Summary of Non-Performing Assets | Following is a summary of non-performing assets: December 31 2017 2016 (dollars in thousands) Non-accrual loans $ 74,635 $ 65,479 Troubled debt restructurings 23,481 20,428 Total non-performing loans 98,116 85,907 Other real estate owned (OREO) 40,606 32,490 Total non-performing assets $ 138,722 $ 118,397 Asset quality ratios: Non-performing loans / total loans and leases 0.47 % 0.58 % Non-performing loans + OREO / total loans and leases + OREO 0.66 % 0.79 % Non-performing assets / total assets 0.44 % 0.54 % |
Age Analysis of Past Due Loans, by Class | The following tables provide an analysis of the aging of loans by class segregated by loans and leases originated and loans acquired: (in thousands) 30-89 Days Past Due ≥ 90 Days Past Due and Still Accruing Non- Accrual Total Past Due Current Total Loans and Leases Originated Loans and Leases December 31, 2017 Commercial real estate $ 8,273 $ 1 $ 24,773 $ 33,047 $ 5,141,736 $ 5,174,783 Commercial and industrial 8,948 3 17,077 26,028 3,469,219 3,495,247 Commercial leases 1,382 41 1,574 2,997 263,723 266,720 Other 83 153 1,000 1,236 15,827 17,063 Total commercial loans and leases 18,686 198 44,424 63,308 8,890,505 8,953,813 Direct installment 13,192 4,466 8,896 26,554 1,729,159 1,755,713 Residential mortgages 14,096 2,832 5,771 22,699 2,013,527 2,036,226 Indirect installment 10,313 611 2,240 13,164 1,435,104 1,448,268 Consumer lines of credit 5,859 1,014 2,313 9,186 1,142,284 1,151,470 Total consumer loans 43,460 8,923 19,220 71,603 6,320,074 6,391,677 Total originated loans and leases $ 62,146 $ 9,121 $ 63,644 $ 134,911 $ 15,210,579 $ 15,345,490 December 31, 2016 Commercial real estate $ 8,452 $ 1 $ 20,114 $ 28,567 $ 4,067,250 $ 4,095,817 Commercial and industrial 16,019 3 24,141 40,163 2,671,723 2,711,886 Commercial leases 973 1 3,429 4,403 192,233 196,636 Other 398 83 1,000 1,481 34,397 35,878 Total commercial loans and leases 25,842 88 48,684 74,614 6,965,603 7,040,217 Direct installment 10,573 4,386 6,484 21,443 1,743,814 1,765,257 Residential mortgages 10,594 3,014 3,316 16,924 1,429,852 1,446,776 Indirect installment 9,312 513 1,983 11,808 1,184,302 1,196,110 Consumer lines of credit 3,529 1,112 1,616 6,257 1,093,370 1,099,627 Total consumer loans 34,008 9,025 13,399 56,432 5,451,338 5,507,770 Total originated loans and leases $ 59,850 $ 9,113 $ 62,083 $ 131,046 $ 12,416,941 $ 12,547,987 (in thousands) 30-89 Days Past Due ≥ 90 Days Past Due and Still Accruing Non- Accrual Total Past Due (1)(2) Current (Discount)/ Premium Total Loans Acquired Loans December 31, 2017 Commercial real estate $ 34,928 $ 63,092 $ 3,975 $ 101,995 $ 3,657,152 $ (192,066 ) $ 3,567,081 Commercial and industrial 3,187 6,452 5,663 15,302 698,265 (38,147 ) 675,420 Total commercial loans 38,115 69,544 9,638 117,297 4,355,417 (230,213 ) 4,242,501 Direct installment 5,267 2,013 — 7,280 141,386 1,156 149,822 Residential mortgages 17,191 15,139 — 32,330 675,499 (41,364 ) 666,465 Indirect installment — 1 — 1 10 154 165 Consumer lines of credit 6,353 3,253 1,353 10,959 596,298 (12,934 ) 594,323 Total consumer loans 28,811 20,406 1,353 50,570 1,413,193 (52,988 ) 1,410,775 Total acquired loans $ 66,926 $ 89,950 $ 10,991 $ 167,867 $ 5,768,610 $ (283,201 ) $ 5,653,276 December 31, 2016 Commercial real estate $ 9,501 $ 23,890 $ 949 $ 34,340 $ 1,384,752 $ (79,747 ) $ 1,339,345 Commercial and industrial 1,789 2,942 2,111 6,842 353,494 (29,441 ) 330,895 Total commercial loans 11,290 26,832 3,060 41,182 1,738,246 (109,188 ) 1,670,240 Direct installment 2,317 1,344 — 3,661 73,479 2,002 79,142 Residential mortgages 8,428 10,816 — 19,244 416,561 (38,007 ) 397,798 Indirect installment 19 4 — 23 96 84 203 Consumer lines of credit 2,156 1,528 336 4,020 201,958 (4,405 ) 201,573 Total consumer loans 12,920 13,692 336 26,948 692,094 (40,326 ) 678,716 Total acquired loans $ 24,210 $ 40,524 $ 3,396 $ 68,130 $ 2,430,340 $ (149,514 ) $ 2,348,956 (1) Past due information for acquired loans is based on the contractual balance outstanding at December 31, 2017 and 2016 . (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of expected cash flows on such loans. In these instances, we do not consider acquired contractually delinquent loans to be non-accrual or non-performing and continue to recognize interest income on these loans using the accretion method. Acquired loans are considered non-accrual or non-performing when, due to credit deterioration or other factors, we determine we are no longer able to reasonably estimate the timing and amount of expected cash flows on such loans. We do not recognize interest income on acquired loans considered non-accrual or non-performing. |
Summary of Commercial Loans by Credit Quality | The following tables present a summary of our commercial loans and leases by credit quality category segregated by loans and leases originated and loans acquired: Commercial Loan and Lease Credit Quality Categories (in thousands) Pass Special Mention Substandard Doubtful Total Originated Loans and Leases December 31, 2017 Commercial real estate $ 4,922,872 $ 152,744 $ 98,728 $ 439 $ 5,174,783 Commercial and industrial 3,266,966 132,975 92,091 3,215 3,495,247 Commercial leases 260,235 4,425 2,060 — 266,720 Other 15,866 43 1,154 — 17,063 Total originated commercial loans and leases $ 8,465,939 $ 290,187 $ 194,033 $ 3,654 $ 8,953,813 December 31, 2016 Commercial real estate $ 3,895,764 $ 130,452 $ 69,588 $ 13 $ 4,095,817 Commercial and industrial 2,475,955 104,652 128,089 3,190 2,711,886 Commercial leases 188,662 3,789 4,185 — 196,636 Other 34,531 264 1,083 — 35,878 Total originated commercial loans and leases $ 6,594,912 $ 239,157 $ 202,945 $ 3,203 $ 7,040,217 Acquired Loans December 31, 2017 Commercial real estate $ 3,102,788 $ 250,987 $ 213,089 $ 217 $ 3,567,081 Commercial and industrial 603,611 26,059 45,661 89 675,420 Total acquired commercial loans $ 3,706,399 $ 277,046 $ 258,750 $ 306 $ 4,242,501 December 31, 2016 Commercial real estate $ 1,144,676 $ 85,894 $ 108,128 $ 647 $ 1,339,345 Commercial and industrial 274,819 20,593 34,967 516 330,895 Total acquired commercial loans $ 1,419,495 $ 106,487 $ 143,095 $ 1,163 $ 1,670,240 |
Summary of Consumer Loans by Payment Status | Following is a table showing consumer loans by payment status: Consumer Loan Credit Quality by Payment Status (in thousands) Performing Non-Performing Total Originated loans December 31, 2017 Direct installment $ 1,739,060 $ 16,653 $ 1,755,713 Residential mortgages 2,019,816 16,410 2,036,226 Indirect installment 1,445,833 2,435 1,448,268 Consumer lines of credit 1,147,576 3,894 1,151,470 Total originated consumer loans $ 6,352,285 $ 39,392 $ 6,391,677 December 31, 2016 Direct installment $ 1,750,305 $ 14,952 $ 1,765,257 Residential mortgages 1,433,409 13,367 1,446,776 Indirect installment 1,193,930 2,180 1,196,110 Consumer lines of credit 1,096,642 2,985 1,099,627 Total originated consumer loans $ 5,474,286 $ 33,484 $ 5,507,770 Acquired loans December 31, 2017 Direct installment $ 149,751 $ 71 $ 149,822 Residential mortgages 666,465 — 666,465 Indirect installment 165 — 165 Consumer lines of credit 592,384 1,939 594,323 Total acquired consumer loans $ 1,408,765 $ 2,010 $ 1,410,775 December 31, 2016 Direct installment $ 79,142 $ — $ 79,142 Residential mortgages 397,798 — 397,798 Indirect installment 203 — 203 Consumer lines of credit 201,061 512 201,573 Total acquired consumer loans $ 678,204 $ 512 $ 678,716 |
Summary of Impaired Loans and Leases, by Class | Following is a summary of information pertaining to originated loans and leases considered to be impaired, by class of loan and lease: (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Specific Reserve Recorded Investment With Specific Reserve Total Recorded Investment Specific Reserve Average Recorded Investment At or for the Year Ended Commercial real estate $ 27,718 $ 21,748 $ 2,906 $ 24,654 $ 439 $ 24,413 Commercial and industrial 29,307 11,595 4,457 16,052 3,215 23,907 Commercial leases 1,574 1,574 — 1,574 — 1,386 Other — — — — — — Total commercial loans and leases 58,599 34,917 7,363 42,280 3,654 49,706 Direct installment 19,375 16,653 — 16,653 — 16,852 Residential mortgages 17,754 16,410 — 16,410 — 15,984 Indirect installment 5,709 2,435 — 2,435 — 2,279 Consumer lines of credit 5,039 3,894 — 3,894 — 3,815 Total consumer loans 47,877 39,392 — 39,392 — 38,930 Total $ 106,476 $ 74,309 $ 7,363 $ 81,672 $ 3,654 $ 88,636 At or for the Year Ended Commercial real estate $ 23,771 $ 19,699 $ 464 $ 20,163 $ 13 $ 19,217 Commercial and industrial 25,719 14,781 8,996 23,777 3,190 29,730 Commercial leases 3,429 3,429 — 3,429 — 3,394 Other 1,000 1,000 — 1,000 — 1,000 Total commercial loans and leases 53,919 38,909 9,460 48,369 3,203 53,341 Direct installment 16,440 14,952 — 14,952 — 14,997 Residential mortgages 14,090 13,367 — 13,367 — 13,200 Indirect installment 5,172 2,180 — 2,180 — 2,037 Consumer lines of credit 3,858 2,985 — 2,985 — 2,813 Total consumer loans 39,560 33,484 — 33,484 — 33,047 Total $ 93,479 $ 72,393 $ 9,460 $ 81,853 $ 3,203 $ 86,388 |
Additional Allowance for Credit Losses Relating to Acquired Loans | Following is a summary of the allowance for credit losses required for acquired loans due to changes in credit quality subsequent to the acquisition date: December 31 2017 2016 (in thousands) Commercial real estate $ 4,976 $ 4,538 Commercial and industrial (415 ) 500 Total commercial loans 4,561 5,038 Direct installment 1,553 1,005 Residential mortgages 484 632 Indirect installment 177 221 Consumer lines of credit (77 ) 372 Total consumer loans 2,137 2,230 Total allowance on acquired loans $ 6,698 $ 7,268 |
Summary of Composition of Total TDRs | Following is a summary of the composition of total TDRs: (in thousands) Originated Acquired Total December 31, 2017 Accruing: Performing $ 19,538 $ 266 $ 19,804 Non-performing 20,173 3,308 23,481 Non-accrual 10,472 234 10,706 Total TDRs $ 50,183 $ 3,808 $ 53,991 December 31, 2016 Accruing: Performing $ 17,105 $ 365 $ 17,470 Non-performing 20,252 176 20,428 Non-accrual 9,035 — 9,035 Total TDRs $ 46,392 $ 541 $ 46,933 |
Reserve for Commercial TDRs Included in Allowance for Credit Losses | The reserve for commercial TDRs included in the allowance for credit losses is presented in the following table: December 31 2017 2016 (in thousands) Specific reserves for commercial TDRs $ 95 $ 291 Pooled reserves for individual commercial loans under $500 469 276 |
Summary of Troubled Debt Restructurings by Class of Loans | The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of loans, by class, that have been restructured: Year Ended December 31 2017 2016 (dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate 3 $ 1,608 $ 1,683 4 $ 778 $ 737 Commercial and industrial 3 3,568 3,091 3 1,727 1,504 Total commercial loans 6 5,176 4,774 7 2,505 2,241 Direct installment 641 5,107 4,500 527 6,090 5,566 Residential mortgages 43 2,251 2,095 45 2,155 2,081 Indirect installment 18 48 43 19 51 51 Consumer lines of credit 64 1,372 1,158 81 1,419 1,283 Total consumer loans 766 8,778 7,796 672 9,715 8,981 Total 772 $ 13,954 $ 12,570 679 $ 12,220 $ 11,222 |
Summary of Originated Troubled Debt Restructurings by Class of Loans and Leases, Payment Default | Following is a summary of originated TDRs, by class, for which there was a payment default, excluding loans that were either charged-off or cured by period end. Default occurs when a loan is 90 days or more past due and is within 12 months of restructuring. Year Ended December 31 2017 2016 (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate 1 $ 463 — $ — Commercial and industrial — — — — Total commercial loans 1 463 — — Direct installment 131 358 90 313 Residential mortgages 6 314 7 285 Indirect installment 17 28 18 35 Consumer lines of credit 5 170 3 394 Total consumer loans 159 870 118 1,027 Total 160 $ 1,333 118 $ 1,027 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Summary of Changes in Allowance for Credit Losses by Loan and Lease Class | Following is a summary of changes in the allowance for credit losses, by loan and lease class: (in thousands) Balance at Beginning of Year Charge- Offs Recoveries Net Charge- Offs Provision for Credit Losses Balance at End of Year Year Ended December 31, 2017 Commercial real estate $ 46,635 $ (2,178 ) $ 2,311 $ 133 $ 3,513 $ 50,281 Commercial and industrial 47,991 (26,188 ) 1,275 (24,913 ) 28,885 51,963 Commercial leases 3,280 (1,017 ) 6 (1,011 ) 3,377 5,646 Other 1,392 (4,099 ) 1,255 (2,844 ) 3,295 1,843 Total commercial loans and leases 99,298 (33,482 ) 4,847 (28,635 ) 39,070 109,733 Direct installment 21,391 (12,401 ) 2,015 (10,386 ) 9,931 20,936 Residential mortgages 10,082 (595 ) 184 (411 ) 5,836 15,507 Indirect installment 10,564 (9,201 ) 3,708 (5,493 ) 6,896 11,967 Consumer lines of credit 9,456 (2,204 ) 461 (1,743 ) 2,826 10,539 Total consumer loans 51,493 (24,401 ) 6,368 (18,033 ) 25,489 58,949 Total allowance on originated loans 150,791 (57,883 ) 11,215 (46,668 ) 64,559 168,682 Purchased credit-impaired loans 572 (469 ) 36 (433 ) 496 635 Other acquired loans 6,696 (1,233 ) 4,582 3,349 (3,982 ) 6,063 Total allowance on acquired loans 7,268 (1,702 ) 4,618 2,916 (3,486 ) 6,698 Total allowance $ 158,059 $ (59,585 ) $ 15,833 $ (43,752 ) $ 61,073 $ 175,380 Year Ended December 31, 2016 Commercial real estate $ 41,741 $ (6,657 ) $ 3,669 $ (2,988 ) $ 7,882 $ 46,635 Commercial and industrial 41,023 (19,584 ) 2,508 (17,076 ) 24,044 47,991 Commercial leases 2,541 (962 ) 66 (896 ) 1,635 3,280 Other 1,013 (2,729 ) 131 (2,598 ) 2,977 1,392 Total commercial loans and leases 86,318 (29,932 ) 6,374 (23,558 ) 36,538 99,298 Direct installment 21,587 (10,153 ) 1,822 (8,331 ) 8,135 21,391 Residential mortgages 7,909 (441 ) 74 (367 ) 2,540 10,082 Indirect installment 9,889 (7,855 ) 2,015 (5,840 ) 6,515 10,564 Consumer lines of credit 9,582 (2,085 ) 265 (1,820 ) 1,694 9,456 Total consumer loans 48,967 (20,534 ) 4,176 (16,358 ) 18,884 51,493 Total allowance on originated loans 135,285 (50,466 ) 10,550 (39,916 ) 55,422 150,791 Purchased credit-impaired loans 834 (399 ) 42 (357 ) 95 572 Other acquired loans 5,893 (649 ) 1,217 568 235 6,696 Total allowance on acquired loans 6,727 (1,048 ) 1,259 211 330 7,268 Total allowance $ 142,012 $ (51,514 ) $ 11,809 $ (39,705 ) $ 55,752 $ 158,059 Year Ended December 31, 2015 Commercial real estate $ 37,588 $ (4,443 ) $ 1,117 $ (3,326 ) $ 7,479 $ 41,741 Commercial and industrial 32,645 (3,562 ) 1,773 (1,789 ) 10,167 41,023 Commercial leases 2,398 (544 ) 101 (443 ) 586 2,541 Other 759 (1,691 ) 55 (1,636 ) 1,890 1,013 Total commercial loans and leases 73,390 (10,240 ) 3,046 (7,194 ) 20,122 86,318 Direct installment 20,538 (10,844 ) 1,527 (9,317 ) 10,366 21,587 Residential mortgages 8,024 (1,010 ) 85 (925 ) 810 7,909 Indirect installment 7,504 (6,427 ) 1,190 (5,237 ) 7,622 9,889 Consumer lines of credit 8,496 (1,653 ) 175 (1,478 ) 2,564 9,582 Total consumer loans 44,562 (19,934 ) 2,977 (16,957 ) 21,362 48,967 Total allowance on originated loans 117,952 (30,174 ) 6,023 (24,151 ) 41,484 135,285 Purchased credit-impaired loans 660 (64 ) 19 (45 ) 219 834 Other acquired loans 7,314 (830 ) 671 (159 ) (1,262 ) 5,893 Total allowance on acquired loans 7,974 (894 ) 690 (204 ) (1,043 ) 6,727 Total allowance $ 125,926 $ (31,068 ) $ 6,713 $ (24,355 ) $ 40,441 $ 142,012 |
Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class | Following is a summary of the individual and collective originated allowance for credit losses and corresponding originated loan and lease balances by class: Originated Allowance Originated Loans and Leases Outstanding (in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Loans and Leases Individually Evaluated for Impairment Collectively Evaluated for Impairment December 31, 2017 Commercial real estate $ 439 $ 49,842 $ 5,174,783 $ 11,114 $ 5,163,669 Commercial and industrial 3,215 48,748 3,495,247 9,872 3,485,375 Commercial leases — 5,646 266,720 — 266,720 Other — 1,843 17,063 — 17,063 Total commercial loans and leases 3,654 106,079 8,953,813 20,986 8,932,827 Direct installment — 20,936 1,755,713 — 1,755,713 Residential mortgages — 15,507 2,036,226 — 2,036,226 Indirect installment — 11,967 1,448,268 — 1,448,268 Consumer lines of credit — 10,539 1,151,470 — 1,151,470 Total consumer loans — 58,949 6,391,677 — 6,391,677 Total $ 3,654 $ 165,028 $ 15,345,490 $ 20,986 $ 15,324,504 December 31, 2016 Commercial real estate $ 13 $ 46,622 $ 4,095,817 $ 12,973 $ 4,082,844 Commercial and industrial 3,190 44,801 2,711,886 21,746 2,690,140 Commercial leases — 3,280 196,636 — 196,636 Other — 1,392 35,878 — 35,878 Total commercial loans and leases 3,203 96,095 7,040,217 34,719 7,005,498 Direct installment — 21,391 1,765,257 — 1,765,257 Residential mortgages — 10,082 1,446,776 — 1,446,776 Indirect installment — 10,564 1,196,110 — 1,196,110 Consumer lines of credit — 9,456 1,099,627 — 1,099,627 Total consumer loans — 51,493 5,507,770 — 5,507,770 Total $ 3,203 $ 147,588 $ 12,547,987 $ 34,719 $ 12,513,268 |
Loan Servicing (Tables)
Loan Servicing (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Mortgage Loan | |
Servicing Assets at Fair Value [Line Items] | |
Servicing Asset at Amortized Cost | The unpaid principal balance of mortgage loans serviced for others, as of December 31, 2017 and 2016 , is listed below: December 31 2017 2016 (in thousands) Mortgage loans sold with servicing retained $ 3,256,548 $ 1,800,002 The following table summarizes activity relating to mortgage loans sold with servicing retained: Year Ended December 31 2017 2016 2015 (in thousands) Mortgage loans sold with servicing retained $ 1,769,129 $ 672,536 $ 431,617 Pretax gains resulting from above loan sales (1) 21,683 12,519 10,681 Mortgage servicing fees (1) 7,509 3,803 3,056 (1) Recorded in mortgage banking operations. Following is a summary of the MSR activity: Year Ended December 31 2017 2016 2015 (in thousands) Balance at beginning of period $ 13,521 $ 8,921 $ 6,859 Fair value of MSRs acquired 8,553 — — Additions 10,830 7,148 3,370 Payoffs and curtailments (1,491 ) (780 ) (694 ) Amortization (2,360 ) (1,768 ) (614 ) Balance at end of period $ 29,053 $ 13,521 $ 8,921 Fair value, beginning of period $ 17,546 $ 11,503 $ 8,684 Fair value, end of period 32,419 17,546 11,503 |
Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement | Following is a summary of the sensitivity of the fair value of MSRs to changes in key assumptions: December 31 2017 2016 (dollars in thousands) Weighted average life (months) 80.4 79.0 Constant prepayment rate (annualized) 9.9 % 9.9 % Discount rate 9.9 % 9.8 % Effect on fair value due to change in interest rates: +0.25% $ 1,737 $ 692 +0.50% 3,220 1,288 -0.25% (1,937 ) (789 ) -0.50% (4,007 ) (1,680 ) |
Small Business Administration Loans | |
Servicing Assets at Fair Value [Line Items] | |
Servicing Asset at Amortized Cost | The unpaid principal balance of SBA-guaranteed loans serviced for investors, as of December 31, 2017 , was as follows: December 31 2017 (in thousands) SBA loans sold to investors with servicing retained $ 305,977 The following table summarizes activity relating to SBA loans sold with servicing retained: Year Ended December 31 2017 (in thousands) SBA loans sold with servicing retained $ 53,938 Pretax gains resulting from above loan sales (1) 2,247 SBA servicing fees (1) 2,195 (1) Recorded in non-interest income. Following is a summary of the activity in SBA servicing assets: Year Ended December 31 2017 (in thousands) Balance at beginning of period $ — Fair value of servicing rights acquired 5,399 Additions 959 Impairment (charge) / recovery (281 ) Amortization (1,019 ) Balance at end of period $ 5,058 Fair value, beginning of period $ — Fair value, end of period 5,058 |
Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement | Following is a summary of key assumptions and the sensitivity of the SBA loan servicing rights to changes in these assumptions: December 31 2017 Decline in fair value due to (dollars in thousands) Actual 10% adverse change 20% adverse change 1% adverse change 2% adverse change Weighted-average life (months) 63.5 Constant prepayment rate 9.29 % $ (145 ) $ (284 ) $ — $ — Discount rate 14.87 — — (147 ) (286 ) |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Summary of Premises and Equipment | Following is a summary of premises and equipment: December 31 2017 2016 (in thousands) Land $ 67,424 $ 45,640 Premises 239,807 186,784 Equipment 212,587 174,325 519,818 406,749 Accumulated depreciation (183,278 ) (162,793 ) Total premises and equipment, net $ 336,540 $ 243,956 |
Depreciation Expense for Premises and Equipment | Depreciation expense for premises and equipment is presented in the following table: December 31 2017 2016 2015 (in thousands) Depreciation expense for premises and equipment $ 34,322 $ 23,355 $ 20,009 |
Schedule of Rent Expense | Rental expense is presented in the following table: December 31 2017 2016 2015 (in thousands) Rental expense $ 29,148 $ 21,015 $ 16,193 |
Summary of Future Minimum Lease Payments | Following is a summary of future minimum lease payments for years following December 31, 2017 : (in thousands) 2018 $ 26,949 2019 22,995 2020 18,587 2021 15,358 2022 11,855 Later years 49,342 Total minimum rental commitment under leases $ 145,086 |
Goodwill and Other Intangible44
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Rollforward of Goodwill | The following table shows a rollforward of goodwill by line of business: (in thousands) Community Banking Wealth Manage- ment Insurance Consumer Finance Total Balance at January 1, 2016 $ 812,399 $ 8,020 $ 10,858 $ 1,809 $ 833,086 Goodwill (deductions) additions 199,200 — (157 ) — 199,043 Balance at December 31, 2016 1,011,599 8,020 10,701 1,809 1,032,129 Goodwill (deductions) additions 1,216,908 151 — — 1,217,059 Balance at December 31, 2017 $ 2,228,507 $ 8,171 $ 10,701 $ 1,809 $ 2,249,188 |
Summary of Core Deposit Intangibles, Customer Renewal Lists and Mortgage Servicing Rights | The following table shows a summary of core deposit intangibles and customer renewal lists: (in thousands) Core Deposit Intangibles Customer Renewal Lists Total December 31, 2017 Gross carrying amount $ 195,582 $ 12,442 $ 208,024 Accumulated amortization (106,938 ) (9,011 ) (115,949 ) Net carrying amount $ 88,644 $ 3,431 $ 92,075 December 31, 2016 Gross carrying amount $ 139,886 $ 12,352 $ 152,238 Accumulated amortization (89,888 ) (8,544 ) (98,432 ) Net carrying amount $ 49,998 $ 3,808 $ 53,806 |
Schedule of Amortization Expense Recognized | The following table summarizes amortization expense recognized: December 31 2017 2016 2015 (in thousands) Amortization expense $ 17,517 $ 11,210 $ 8,305 |
Schedule of Expected Amortization Expenses on Finite-Lived Intangible Assets | Following is a summary of the expected amortization expense on finite-lived intangible assets, assuming no new additions, for each of the five years following December 31, 2017 : (in thousands) 2018 $ 15,633 2019 13,532 2020 12,503 2021 11,339 2022 9,637 Total $ 62,644 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Deposits [Abstract] | |
Summary of Deposits | Following is a summary of deposits: December 31 2017 2016 (in thousands) Non-interest-bearing demand $ 5,720,030 $ 4,205,337 Interest-bearing demand 9,571,038 6,931,381 Savings 2,488,178 2,352,434 Certificates and other time deposits: Less than $100,000 2,461,014 1,680,068 $100,000 through $250,000 1,326,562 642,509 Greater than $250,000 832,903 253,918 Total deposits $ 22,399,725 $ 16,065,647 |
Summary of Scheduled Maturities of Certificates and Other Time Deposits | Following is a summary of the scheduled maturities of certificates and other time deposits for the years following December 31, 2017 : (in thousands) 2018 $ 2,778,467 2019 1,026,222 2020 351,431 2021 194,678 2022 118,891 Later years 150,790 Total $ 4,620,479 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Summary of Short-Term Borrowings | Following is a summary of short-term borrowings: December 31 2017 2016 (in thousands) Securities sold under repurchase agreements $ 256,017 $ 313,062 Federal Home Loan Bank advances 2,285,000 1,025,000 Federal funds purchased 1,000,000 1,037,000 Subordinated notes 137,320 127,948 Total short-term borrowings $ 3,678,337 $ 2,503,010 |
Schedule of Weighted Average Interest Rates on Short-Term Borrowings | The following represents weighted average interest rates on short-term borrowings: December 31 2017 2016 2015 Year-to-date average 1.16 % 0.61 % 0.42 % Period-end 1.44 % 0.69 % 0.48 % |
Long-Term Borrowings (Tables)
Long-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Summary of Long-Term Borrowings | Following is a summary of long-term borrowings: December 31 2017 2016 (in thousands) Federal Home Loan Bank advances $ 310,061 $ 305,110 Subordinated notes 87,614 87,147 Junior subordinated debt 110,347 48,600 Other subordinated debt 160,151 98,637 Total long-term borrowings $ 668,173 $ 539,494 |
Scheduled Annual Maturities for Long-Term Borrowings | Scheduled annual maturities for the long-term borrowings for the years following December 31, 2017 are as follows: (in thousands) 2018 $ 69,684 2019 151,558 2020 105,610 2021 52,189 2022 6,072 Later years 283,060 Total $ 668,173 |
Schedule of Weighted Average Interest Rate on Subordinated Notes | The weighted average interest rate on the subordinated notes are presented in the following table: December 31 2017 2016 2015 Subordinated notes weighted average interest rate 2.85 % 2.71 % 2.73 % |
Junior Subordinated Debt Trusts | The following table provides information relating to the Trusts as of December 31, 2017 : (dollars in thousands) Trust Preferred Securities Common Securities Junior Subordinated Debt Stated Maturity Date Interest Rate Rate Reset Factor F.N.B. Statutory Trust II $ 21,500 $ 665 $ 22,165 6/15/2036 3.24 % LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,473 10/18/2034 3.54 % LIBOR + 219 bps Yadkin Valley Statutory Trust I 25,000 774 20,863 12/15/2037 2.91 % LIBOR + 132 bps FNB Financial Services Capital Trust I 25,000 774 21,804 9/30/2035 2.80 % LIBOR + 146 bps American Community Capital Trust II 10,000 310 10,448 12/15/2033 4.14 % LIBOR + 280 bps Crescent Financial Capital Trust I 8,000 248 8,594 10/7/2033 4.46 % LIBOR + 310 bps Total $ 115,500 $ 3,885 $ 110,347 |
Derivative Instruments and He48
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Derivative [Line Items] | |
Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities | The following table presents notional amounts and gross fair values of our derivative assets and derivative liabilities which are not offset in the balance sheet. December 31 2017 2016 Notional Amount Fair Value Notional Amount Fair Value (in thousands) Asset Liability Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 705,000 $ 228 $ 1,982 $ 450,000 $ 9,256 $ 1,171 Interest rate swaps – not designated 2,245,442 1,169 11,599 1,689,157 12,720 34,046 Equity contracts – not designated 1,180 51 — 1,180 61 — Total subject to master netting arrangements 2,951,622 1,448 13,581 2,140,337 22,037 35,217 Not subject to master netting arrangements: Interest rate swaps – not designated 2,245,442 27,233 15,303 1,689,157 32,170 11,866 Interest rate lock commitments – not designated 88,107 1,594 5 — — — Forward delivery commitments – not designated 106,572 233 148 — — — Credit risk contracts – not designated 235,196 39 109 174,538 13 123 Equity contracts – not designated 1,180 — 51 1,180 — 61 Total not subject to master netting arrangements 2,676,497 29,099 15,616 1,864,875 32,183 12,050 Total $ 5,628,119 $ 30,547 $ 29,197 $ 4,005,212 $ 54,220 $ 47,267 |
Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI) | The following table shows amounts reclassified from accumulated other comprehensive income (AOCI): December 31 2017 2016 (in thousands) Total Net of Tax Total Net of Tax Reclassified from AOCI to interest income $ 1,446 $ 940 $ 2,659 $ 1,728 Reclassified from AOCI to interest expense 1,374 893 703 457 |
Derivative Assets | The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheets to the net amounts that would result in the event of offset: Amount Not Offset in the (in thousands) Net Amount Financial Cash Net December 31, 2017 Derivative Assets Interest rate contracts: Designated $ 228 $ 228 $ — $ — Not designated 1,169 1,169 — — Equity contracts – not designated 51 51 — — Total $ 1,448 $ 1,448 $ — $ — December 31, 2016 Derivative Assets Interest rate contracts: Designated $ 9,256 $ 843 $ 8,413 $ — Not designated 12,720 474 12,132 114 Equity contracts – not designated 61 61 — — Total $ 22,037 $ 1,378 $ 20,545 $ 114 |
Derivative Liabilities | The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheets to the net amounts that would result in the event of offset: Amount Not Offset in the (in thousands) Net Amount Financial Cash Net Derivative Liabilities Interest rate contracts: Designated $ 1,982 $ 1,982 $ — $ — Not designated 11,599 10,940 — 659 Total $ 13,581 $ 12,922 $ — $ 659 Derivative Liabilities Interest rate contracts: Designated $ 1,171 $ 1,171 $ — $ — Not designated 34,046 15,490 17,651 905 Total $ 35,217 $ 16,661 $ 17,651 $ 905 |
Effect of Derivative Financial Instruments on Income Statement | The following table presents the effect of certain derivative financial instruments on the income statement: Year Ended December 31, (in thousands) Income Statement Location 2017 2016 Interest Rate Contracts Interest income – loans and leases $ 1,446 $ 2,659 Interest Rate Contracts Interest expense – short-term borrowings 1,374 703 Interest Rate Swaps Other income (592 ) (529 ) Credit Risk Contracts Other income 40 16 |
Designated as Hedging Instrument | |
Derivative [Line Items] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate contracts: December 31 2017 2016 (in thousands) Notional amount $ 705,000 $ 450,000 Fair value included in other assets 228 9,256 Fair value included in other liabilities 1,982 1,171 |
Not Designated as Hedging Instrument | |
Derivative [Line Items] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate swaps: December 31 2017 2016 (in thousands) Notional amount $ 4,490,884 $ 3,378,314 Fair value included in other assets 28,402 44,890 Fair value included in other liabilities 26,902 45,912 |
Commitments, Credit Risk and 49
Commitments, Credit Risk and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-Balance Sheet Credit Risk Information | Following is a summary of off-balance sheet credit risk information: December 31 2017 2016 (in thousands) Commitments to extend credit $ 6,957,822 $ 4,486,164 Standby letters of credit 132,904 117,732 |
Stock Incentive Plans (Tables)
Stock Incentive Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Issuance of Restricted Stock Awards and Aggregate Weighted Average Grant Date Fair Values | The following table details our issuance of restricted stock awards and the aggregate weighted average grant date fair values under these plans for the years indicated. As of December 31, 2017 , we had available up to 2,642,020 shares of common stock to issue under this Plan. (dollars in thousands) 2017 2016 2015 Restricted stock awards 713,998 574,125 664,337 Weighted average grant date fair values $ 10,474 $ 7,383 $ 8,802 |
Summary of Information Concerning Restricted Stock Awards | The following table summarizes the activity relating to restricted stock awards during the periods indicated: 2017 2016 2015 Awards Weighted Average Grant Price per Share Awards Weighted Average Grant Price per Share Awards Weighted Average Grant Price per Share Unvested awards outstanding at beginning of year 1,836,363 $ 12.97 1,548,444 $ 12.85 1,354,093 $ 11.86 Granted 713,998 14.67 574,125 12.86 664,337 13.25 Net adjustment due to performance (64,861 ) 13.85 72,070 11.79 13,115 19.74 Vested (542,580 ) 12.71 (384,704 ) 12.11 (484,010 ) 10.70 Forfeited/expired (31,018 ) 14.03 (31,394 ) 13.02 (41,130 ) 13.24 Dividend reinvestment 63,960 13.80 57,822 13.08 42,039 11.86 Unvested awards outstanding at end of year 1,975,862 13.64 1,836,363 12.97 1,548,444 12.85 |
Schedule of Certain Information Related to Restricted Stock Awards | The following table provides certain information relating to restricted stock awards: Year Ended December 31 2017 2016 2015 (in thousands) Stock-based compensation expense $ 8,201 $ 7,066 $ 4,461 Tax benefit related to stock-based compensation expense 2,870 2,473 1,561 Fair value of awards vested 8,106 4,587 6,070 |
Components of Restricted Stock Awards | The components of the restricted stock awards as of December 31, 2017 are as follows: (dollars in thousands) Service- Based Awards Performance- Based Awards Total Unvested restricted stock awards 1,062,902 912,960 1,975,862 Unrecognized compensation expense $ 7,037 $ 5,062 $ 12,099 Intrinsic value $ 14,689 $ 12,617 $ 27,306 Weighted average remaining life (in years) 1.93 1.72 1.83 |
Summary of Activity Related to Stock Options Awards | The following table summarizes the activity relating to stock options during the periods indicated: 2017 Weighted Average Exercise Price per Share 2016 Weighted Average Exercise Price per Share 2015 Weighted Average Exercise Price per Share Options outstanding at beginning of year 892,532 $ 8.95 435,340 $ 8.86 568,834 $ 8.86 Assumed from acquisitions 207,645 8.92 1,707,036 7.83 — — Exercised (255,503 ) 10.21 (1,128,075 ) 7.18 (93,822 ) 5.94 Forfeited/expired (122,024 ) 12.12 (121,769 ) 9.33 (39,672 ) 15.66 Options outstanding and exercisable at end of year 722,650 7.96 892,532 8.95 435,340 8.86 |
Summary of Stock Options Outstanding | The following table summarizes information about stock options outstanding at December 31, 2017 : Range of Exercise Prices Options Outstanding and Exercisable Weighted Average Remaining Contractual Years Weighted Average Exercise Price $3.45 - $5.18 162,224 3.07 $ 4.87 $5.19 - $7.78 118,707 3.31 6.84 $7.79 - $11.68 432,260 3.80 9.33 $11.69 - $14.53 9,459 0.69 12.48 722,650 |
Summary of Stock Options Exercised | The following table summarizes certain information relating to stock options exercised: Year Ended December 31 2017 2016 2015 (in thousands) Proceeds from stock options exercised $ 2,340 $ 7,816 $ 557 Tax benefit recognized from stock options exercised 385 1,862 130 Intrinsic value of stock options exercised 1,001 6,577 693 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Schedule of Accumulated Benefit Obligation, Change in Benefit Obligation, Change in Plan Assets, Plans' Funded Status and Amount Included in Consolidated Balance Sheets | The following tables provide information relating to the accumulated benefit obligation, change in benefit obligation, change in plan assets, the plans’ funded status and the amount included in the consolidated balance sheets for the qualified and non-qualified plans described above (collectively, the Plans): December 31 2017 2016 (in thousands) Accumulated benefit obligation $ 181,412 $ 152,586 Projected benefit obligation at beginning of year $ 152,916 $ 151,015 Acquisition 29,613 — Service cost (13 ) (15 ) Interest cost 6,846 6,129 Actuarial loss 9,061 3,723 Benefits paid (9,728 ) (7,936 ) Settlement (7,158 ) — Projected benefit obligation at end of year $ 181,537 $ 152,916 Fair value of plan assets at beginning of year $ 136,958 $ 132,762 Acquisition 24,961 — Actual return on plan assets 17,327 10,787 Corporation contribution 1,345 1,345 Benefits paid (9,728 ) (7,936 ) Settlement (7,158 ) — Fair value of plan assets at end of year $ 163,705 $ 136,958 Funded status of plans $ (17,832 ) $ (15,958 ) |
Schedule of Actuarial Assumptions Used in Determination of Projected Benefit Obligation | Actuarial assumptions used in the determination of the projected benefit obligation in the Plans are as follows: Assumptions at December 31 2017 2016 Weighted average discount rate 3.53 % 3.96 % Rates of average increase in compensation levels 3.50 3.50 |
Schedule of Net Periodic Pension Cost and Other Comprehensive Income | The net periodic pension cost and other comprehensive income for the Plans included the following components: Year Ended December 31 2017 2016 2015 (in thousands) Service cost $ (13 ) $ (15 ) $ (14 ) Interest cost 6,846 6,129 5,897 Expected return on plan assets (11,121 ) (9,413 ) (9,964 ) Transition amount amortization — — — Prior service credit amortization 7 7 7 Actuarial loss amortization 2,461 2,383 2,112 Net periodic pension income (1,820 ) (909 ) (1,962 ) Settlement charge 168 — — Total pension income (1,652 ) (909 ) (1,962 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income: Current year actuarial loss 2,855 2,349 6,914 Amortization of actuarial loss (2,461 ) (2,383 ) (2,112 ) Amortization of prior service credit (7 ) (7 ) (7 ) Amortization of transition asset — — — Total amount recognized in other comprehensive income 387 (41 ) 4,795 Total amount recognized in net periodic benefit cost and other comprehensive income $ (1,265 ) $ (950 ) $ 2,833 |
Schedule of Actuarial Assumptions Used in Determination of Net Periodic Pension Cost | The plans have an actuarial measurement date of December 31. Actuarial assumptions used in the determination of the net periodic pension cost in the Plans are as follows: Assumptions for the Year Ended December 31 2017 2016 2015 Weighted average discount rate 3.96 % 4.19 % 3.85 % Rates of increase in compensation levels 3.50 3.50 3.50 Expected long-term rate of return on assets 7.25 7.25 7.25 |
Schedule of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Qualified and Non-Qualified Pension Plans | As of December 31, 2017 and 2016 , the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the qualified and non-qualified pension plans were as follows: (in thousands) Qualified Pension Plans Non-Qualified Pension Plans December 31 2017 2016 2017 2016 Projected benefit obligation $ 161,632 $ 132,902 $ 19,905 $ 20,014 Accumulated benefit obligation 161,632 132,902 19,780 19,684 Fair value of plan assets 163,705 136,958 — — |
Schedule of Impact of Changes in Discount Rate, Return on Plan Assets on Pension Expense | The impact of changes in the discount rate and expected long-term rate of return on plan assets would have had the following effects on 2017 pension expense: (in thousands) Estimated Effect on Pension Expense 0.5% decrease in the discount rate $ (97 ) 0.5% decrease in the expected long-term rate of return on plan assets 767 |
Schedule of Estimated Future Cash Flows | The following table provides information regarding estimated future cash flows relating to the Plans at December 31, 2017 (in thousands): Expected employer contributions: 2018 $ 1,424 Expected benefit payments: 2018 9,474 2019 9,957 2020 10,227 2021 10,390 2022 10,501 2023 – 2027 53,902 |
Schedule of Contribution Expense | Our contribution expense is presented in the following table: Year Ended December 31 2017 2016 2015 (in thousands) 401(k) contribution expense $ 12,286 $ 9,069 $ 8,055 |
Schedule of Asset Allocations for Pension Plans | The following table presents asset allocations for our pension plans as of December 31, 2017 and 2016 , and the target allocation for 2018 , by asset category: Target Allocation Percentage of Plan Assets December 31 2018 2017 2016 Asset Category Equity securities 45 - 65 64 % 61 % Debt securities 30 - 50 33 35 Cash equivalents 0 - 10 3 4 |
Schedule of Fair Values of Pension Plan Assets by Asset Category | The fair values of our pension plan assets by asset category are as follows: (in thousands) Level 1 Level 2 Level 3 Total December 31, 2017 Asset Class Cash $ 5,613 $ — $ — $ 5,613 Equity securities: F.N.B. Corporation 7,948 — — 7,948 Other large-cap U.S. financial services companies 4,269 — — 4,269 Other large-cap U.S. companies 45,583 — — 45,583 International companies 576 — — 576 Other equity 726 — — 726 Mutual fund equity investments: U.S. equity index funds: U.S. large-cap equity index funds 3,489 — — 3,489 U.S. small-cap equity index funds 3,983 — — 3,983 U.S. mid-cap equity index funds 4,836 — — 4,836 Non-U.S. equities growth fund 13,965 — — 13,965 U.S. equity funds: U.S. mid-cap 9,413 — — 9,413 U.S. small-cap 3,165 — — 3,165 Other 5,681 — — 5,681 Fixed income securities: U.S. Treasury bonds — 121 — 121 U.S. government agencies — 37,671 — 37,671 Corporate bonds — 5,532 — 5,532 Fixed income mutual funds: U.S. investment-grade fixed income securities 11,134 — — 11,134 Non-U.S. fixed income securities — — — — Total $ 120,381 $ 43,324 $ — $ 163,705 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2016 Asset Class Cash $ 5,125 $ — $ — $ 5,125 Equity securities: F.N.B. Corporation 9,219 — — 9,219 Other large-cap U.S. financial services companies 2,999 — — 2,999 Other large-cap U.S. companies 36,570 — — 36,570 International companies 718 — — 718 Other equity 596 — — 596 Mutual fund equity investments: U.S. equity index funds: U.S. large-cap equity index funds 559 — — 559 U.S. small-cap equity index funds 3,035 — — 3,035 U.S. mid-cap equity index funds 3,795 — — 3,795 Non-U.S. equities growth fund 9,555 — — 9,555 U.S. equity funds: U.S. mid-cap 7,615 — — 7,615 U.S. small-cap 3,173 — — 3,173 Other 5,928 — — 5,928 Fixed income securities: U.S. government agencies — 36,891 — 36,891 Fixed income mutual funds: U.S. investment-grade fixed income securities 10,766 — — 10,766 Non-U.S. fixed income securities 414 — — 414 Total $ 100,067 $ 36,891 $ — $ 136,958 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Summary of Income Tax Expense Allocated Based on Separate Tax Return Basis | Federal and state income tax expense consist of the following: Year Ended December 31 2017 2016 2015 (in thousands) Current income taxes: Federal taxes $ 26,336 $ 57,894 $ 69,572 State taxes 1,746 2,329 989 Total current income taxes 28,082 60,223 70,561 Deferred income taxes: Federal taxes 128,204 14,983 63 State taxes 779 291 (631 ) Total deferred income taxes 128,983 15,274 (568 ) Total income taxes $ 157,065 $ 75,497 $ 69,993 |
Summary of Reconciliation Between the Statutory Tax Rate and Actual Effective Tax Rate | The following table provides a reconciliation between the statutory tax rate and the actual effective tax rate: Year Ended December 31 2017 2016 2015 Statutory tax rate 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 0.5 0.7 0.8 Valuation allowance reversal — — (0.8 ) Tax-exempt interest (3.3 ) (2.9 ) (2.2 ) Cash surrender value on BOLI (1.1 ) (1.5 ) (1.3 ) Tax credits (2.6 ) (0.9 ) (1.1 ) Affordable housing cost amortization, net of tax benefits 0.2 — — Tax Cuts and Jobs Act revaluation of net deferred tax assets 15.2 — — Other items 0.2 0.2 0.1 Actual effective tax rate 44.1 % 30.6 % 30.5 % |
Income Tax Expense Related to Gains on Sale of Securities | Income tax expense related to gains on the sale of securities is presented in the following table: Year Ended December 31 2017 2016 2015 (in thousands) Income tax expense related to gains on sale of securities $ 2,071 $ 249 $ 288 |
Summary of Deferred Tax Assets and Liabilities from Tax Effects of Temporary Differences | The following table presents the tax effects of significant temporary differences that give rise to federal and state deferred tax assets and liabilities: December 31 2017 2016 (in thousands) Deferred tax assets: Allowance for credit losses $ 38,933 $ 56,090 Discounts on acquired loans 64,341 48,978 Net operating loss/tax credit carryforwards 47,376 17,753 Deferred compensation 8,534 12,236 Securities impairments 1,092 — Pension and other defined benefit plans 6,768 7,713 Net unrealized securities losses 7,238 6,972 Other 7,787 11,264 Total 182,069 161,006 Valuation allowance (26,620 ) (18,945 ) Total deferred tax assets 155,449 142,061 Deferred tax liabilities: Loan costs (7,211 ) (2,222 ) Depreciation (12,263 ) (12,392 ) Prepaid expenses (3,669 ) (682 ) Amortizable intangibles (18,422 ) (18,506 ) Lease financing (10,035 ) (5,538 ) Debt discharge income deferral (474 ) (1,361 ) Originated mortgage servicing rights (6,178 ) (748 ) Net unrealized securities gains — (86 ) Other (1,647 ) (1,253 ) Total deferred tax liabilities (59,899 ) (42,788 ) Net deferred tax assets $ 95,550 $ 99,273 |
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: Year Ended December 31 2017 2016 (in thousands) Balance at beginning of year $ 542 $ 455 Additions based on tax positions related to current year 186 163 Additions based on tax positions of prior year — — Reductions for tax positions of prior years (5 ) — Reductions due to expiration of statute of limitations (73 ) (76 ) Balance at end of year $ 650 $ 542 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Changes in AOCI, net of tax, by component | The following table presents changes in AOCI, net of tax, by component: (in thousands) Unrealized Net Gains (Losses) on Securities Available for Sale Unrealized Net Gains (Losses) on Derivative Instruments Unrecognized Pension and Postretirement Obligations Total Year Ended December 31, 2017 Balance at beginning of period $ (18,222 ) $ 5,254 $ (48,401 ) $ (61,369 ) Other comprehensive income (loss) before reclassifications (5,744 ) (759 ) (7 ) (6,510 ) Amounts reclassified from AOCI (411 ) (46 ) — (457 ) Amounts reclassified from AOCI due to tax reform (5,249 ) 958 (10,425 ) (14,716 ) Net current period other comprehensive income (loss) (11,404 ) 153 (10,432 ) (21,683 ) Balance at end of period $ (29,626 ) $ 5,407 $ (58,833 ) $ (83,052 ) |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share: Year Ended December 31 2017 2016 2015 (dollars in thousands, except per share data) Net income $ 199,204 $ 170,891 $ 159,649 Less: Preferred stock dividends 8,041 8,041 8,041 Net income available to common stockholders $ 191,163 $ 162,850 $ 151,608 Basic weighted average common shares outstanding 302,195,295 206,244,498 174,971,785 Net effect of dilutive stock options, warrants and restricted stock 1,662,681 1,524,111 1,367,168 Diluted weighted average common shares outstanding 303,857,976 207,768,609 176,338,953 Earnings per common share: Basic $ 0.63 $ 0.79 $ 0.87 Diluted $ 0.63 $ 0.78 $ 0.86 |
Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation | The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: Year Ended December 31 2017 2016 2015 Average shares excluded from the diluted earnings per common share calculation 910 9,980 18,167 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Schedule of Capital Ratios | Following are the capital ratios for FNB and FNBPA: Actual Well-Capitalized Requirements Minimum Capital Requirements (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2017 F.N.B. Corporation: Total capital $ 2,666,272 11.4 % $ 2,340,362 10.0 % $ 2,164,835 9.3 % Tier 1 capital 2,184,571 9.3 1,872,290 8.0 1,696,763 7.3 Common equity tier 1 2,077,689 8.9 1,521,235 6.5 1,345,708 5.8 Leverage 2,184,571 7.6 1,440,797 5.0 1,152,638 4.0 Risk-weighted assets 23,403,622 FNBPA: Total capital 2,504,191 10.7 2,332,593 10.0 2,157,649 9.3 Tier 1 capital 2,332,892 10.0 1,866,075 8.0 1,691,130 7.3 Common equity tier 1 2,252,892 9.7 1,516,186 6.5 1,341,241 5.8 Leverage 2,332,892 8.1 1,432,604 5.0 1,146,084 4.0 Risk-weighted assets 23,325,934 As of December 31, 2016 F.N.B. Corporation: Total capital $ 1,917,386 12.0 % $ 1,597,951 10.0 % $ 1,378,232 8.6 % Tier 1 capital 1,582,251 9.9 1,278,360 8.0 1,058,642 6.6 Common equity tier 1 1,475,369 9.2 1,038,668 6.5 818,950 5.1 Leverage 1,582,251 7.7 1,027,831 5.0 822,265 4.0 Risk-weighted assets 15,979,505 FNBPA: Total capital 1,768,561 11.1 1,588,989 10.0 1,370,503 8.6 Tier 1 capital 1,614,167 10.2 1,271,191 8.0 1,052,705 6.6 Common equity tier 1 1,534,167 9.7 1,032,843 6.5 814,357 5.1 Leverage 1,614,167 7.9 1,019,034 5.0 815,227 4.0 Risk-weighted assets 15,889,893 |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Cash Flow Information | Following is a summary of supplemental cash flow information: Year Ended December 31 2017 2016 2015 (in thousands) Interest paid on deposits and other borrowings $ 129,024 $ 67,296 $ 47,805 Income taxes paid 52,500 60,000 61,500 Transfers of loans to other real estate owned 34,841 14,592 9,628 Financing of other real estate owned sold 19 441 372 |
Business Segments (Tables)
Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Financial Information for Segments of FNB | The following tables provide financial information for these segments of FNB. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of FNB, and includes the parent company, other non-bank subsidiaries and eliminations and adjustments to reconcile to the consolidated financial statements. (in thousands) Community Banking Wealth Manage- ment Insurance Consumer Finance Parent and Other Consolidated At or for the Year Ended December 31, 2017 Interest income $ 943,661 $ — $ 81 $ 40,187 $ (3,603 ) $ 980,326 Interest expense 117,951 — — 3,676 12,265 133,892 Net interest income 825,710 — 81 36,511 (15,868 ) 846,434 Provision for credit losses 52,780 — — 8,293 — 61,073 Non-interest income 197,517 39,256 15,671 3,256 (3,251 ) 252,449 Non-interest expense (1) 596,813 30,563 14,507 21,502 639 664,024 Amortization of intangibles 17,050 254 213 — — 17,517 Income tax expense (benefit) 152,778 2,679 (256 ) 5,283 (3,419 ) 157,065 Net income (loss) 203,806 5,760 1,288 4,689 (16,339 ) 199,204 Total assets 31,155,973 24,218 21,062 181,260 35,122 31,417,635 Total intangibles 2,317,151 10,176 12,127 1,809 — 2,341,263 At or for the Year Ended Interest income $ 640,895 $ — $ 84 $ 40,922 $ (2,938 ) $ 678,963 Interest expense 56,182 — — 3,759 7,510 67,451 Net interest income 584,713 — 84 37,163 (10,448 ) 611,512 Provision for credit losses 49,046 — — 6,706 — 55,752 Non-interest income 149,408 35,283 14,750 3,002 (682 ) 201,761 Non-interest expense (1) 437,031 27,201 12,965 21,662 1,064 499,923 Amortization of intangibles 10,526 259 425 — — 11,210 Income tax expense (benefit) 72,619 2,845 532 4,488 (4,987 ) 75,497 Net income (loss) 164,899 4,978 912 7,309 (7,207 ) 170,891 Total assets 21,629,374 19,619 22,053 193,349 (19,578 ) 21,844,817 Total intangibles 1,061,597 10,189 12,340 1,809 — 1,085,935 At or for the Year Ended Interest income $ 509,585 $ — $ 89 $ 39,868 $ (2,747 ) $ 546,795 Interest expense 41,227 — — 3,518 3,828 48,573 Net interest income 468,358 — 89 36,350 (6,575 ) 498,222 Provision for credit losses 33,045 — — 7,396 — 40,441 Non-interest income 114,377 35,246 13,052 2,926 (3,191 ) 162,410 Non-interest expense (1) 320,912 27,264 13,891 20,189 (12 ) 382,244 Amortization of intangibles 7,544 273 488 — — 8,305 Income tax expense (benefit) 66,979 2,803 (412 ) 4,709 (4,086 ) 69,993 Net income (loss) 154,255 4,906 (826 ) 6,982 (5,668 ) 159,649 Total assets 17,349,459 20,753 22,207 195,048 (29,805 ) 17,557,662 Total intangibles 844,630 10,447 12,923 1,809 — 869,809 (1) Excludes amortization of intangibles, which is presented separately. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents the balances of assets and liabilities measured at fair value on a recurring basis: (in thousands) Level 1 Level 2 Level 3 Total December 31, 2017 Assets Measured at Fair Value Debt securities available for sale U.S. Treasury $ — $ — $ — $ — U.S. government-sponsored entities — 343,942 — 343,942 Residential mortgage-backed securities Agency mortgage-backed securities — 1,598,874 — 1,598,874 Agency collateralized mortgage obligations — 794,957 — 794,957 Non-agency collateralized mortgage obligations — 1 — 1 Commercial mortgage-backed securities — — — — States of the U.S. and political subdivisions — 21,093 — 21,093 Other debt securities — 4,670 — 4,670 Total debt securities available for sale — 2,763,537 — 2,763,537 Equity securities available for sale Fixed income mutual fund 161 — — 161 Financial services industry — 864 — 864 Insurance services industry — — — — Total equity securities available for sale 161 864 — 1,025 Total securities available for sale 161 2,764,401 — 2,764,562 Loans held for sale — 56,458 — 56,458 Derivative financial instruments Trading — 28,453 — 28,453 Not for trading — 500 1,594 2,094 Total derivative financial instruments — 28,953 1,594 30,547 Total assets measured at fair value on a recurring basis $ 161 $ 2,849,812 $ 1,594 $ 2,851,567 Liabilities Measured at Fair Value Derivative financial instruments Trading $ — $ 26,953 $ — $ 26,953 Not for trading — 2,239 5 2,244 Total derivative financial instruments — 29,192 5 29,197 Total liabilities measured at fair value on a recurring basis $ — $ 29,192 $ 5 $ 29,197 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2016 Assets Measured at Fair Value Debt securities available for sale U.S. Treasury $ — $ 29,953 $ — $ 29,953 U.S. government-sponsored entities — 365,098 — 365,098 Residential mortgage-backed securities Agency mortgage-backed securities — 1,252,798 — 1,252,798 Agency collateralized mortgage obligations — 535,974 — 535,974 Non-agency collateralized mortgage obligations — 3 894 897 Commercial mortgage-backed securities — 1,291 — 1,291 States of the U.S. and political subdivisions — 35,849 — 35,849 Other debt securities — 9,487 — 9,487 Total debt securities available for sale — 2,230,453 894 2,231,347 Equity securities available for sale Financial services industry — — 492 492 Insurance services industry 148 — — 148 Total equity securities available for sale 148 — 492 640 Total securities available for sale 148 2,230,453 1,386 2,231,987 Derivative financial instruments Trading — 44,951 — 44,951 Not for trading — 9,269 — 9,269 Total derivative financial instruments — 54,220 — 54,220 Total assets measured at fair value on a recurring basis $ 148 $ 2,284,673 $ 1,386 $ 2,286,207 Liabilities Measured at Fair Value Derivative financial instruments Trading $ — $ 45,973 $ — $ 45,973 Not for trading — 1,294 — 1,294 Total derivative financial instruments — 47,267 — 47,267 Total liabilities measured at fair value on a recurring basis $ — $ 47,267 $ — $ 47,267 |
Additional Information about Assets Measured at Fair Value on Recurring Basis | The following table presents additional information about assets measured at fair value on a recurring basis and for which we have utilized Level 3 inputs to determine fair value: (in thousands) Other Equity Securities Residential Non-Agency Collateralized Mortgage Obligations Interest Total Year Ended December 31, 2017 Balance at beginning of period $ — $ 492 $ 894 $ — $ 1,386 Total gains (losses) – realized/unrealized: Included in earnings — — 4 — 4 Included in other comprehensive income — 86 (6 ) — 80 Accretion included in earnings (1 ) — 1 — — Purchases, issuances, sales and settlements: Purchases 12,048 — — 1,594 13,642 Issuances — — — — — Sales/redemptions (12,047 ) — (874 ) — (12,921 ) Settlements — — (19 ) (4,569 ) (4,588 ) Transfers from Level 3 — (578 ) — — (578 ) Transfers into Level 3 — — — 4,569 4,569 Balance at end of period $ — $ — $ — $ 1,594 $ 1,594 Year Ended December 31, 2016 Balance at beginning of period $ — $ 439 $ 1,184 $ — $ 1,623 Total gains (losses) – realized/unrealized: Included in earnings — — — — — Included in other comprehensive income — 53 (7 ) — 46 Accretion included in earnings — — 6 — 6 Purchases, issuances, sales and settlements: Purchases — — — — — Issuances — — — — — Sales/redemptions — — — — — Settlements — — (289 ) — (289 ) Transfers from Level 3 — — — — — Transfers into Level 3 — — — — — Balance at end of period $ — $ 492 $ 894 $ — $ 1,386 |
Additional Information about Assets Measured at Fair Value on Non-Recurring Basis | For assets measured at fair value on a non-recurring basis still held at the balance sheet date, the following table provides the hierarchy level and the fair value of the related assets or portfolios: (in thousands) Level 1 Level 2 Level 3 Total December 31, 2017 Impaired loans $ — $ 2,813 $ 1,297 $ 4,110 Other real estate owned — 10,513 10,823 21,336 Loans held for sale - SBA — — 36,432 36,432 Other assets - SBA servicing asset — — 5,058 5,058 December 31, 2016 Impaired loans $ — $ 500 $ 5,883 $ 6,383 Other real estate owned — 11,017 3,181 14,198 |
Fair Values of Financial Instruments | The fair values of our financial instruments are as follows: Fair Value Measurements (in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 December 31, 2017 Financial Assets Cash and cash equivalents $ 479,443 $ 479,443 $ 479,443 $ — $ — Securities available for sale 2,764,562 2,764,562 161 2,764,401 — Securities held to maturity 3,242,268 3,218,379 — 3,218,379 — Net loans and leases, including loans held for sale 20,916,277 20,661,196 — 56,458 20,604,738 Loan servicing rights 34,111 37,758 — — 37,758 Derivative assets 30,547 30,547 — 28,953 1,594 Accrued interest receivable 94,254 94,254 94,254 — — Financial Liabilities Deposits 22,399,725 22,359,182 17,779,246 4,579,936 — Short-term borrowings 3,678,337 3,678,723 3,678,723 — — Long-term borrowings 668,173 675,489 — — 675,489 Derivative liabilities 29,197 29,197 — 29,192 5 Accrued interest payable 12,480 12,480 12,480 — — December 31, 2016 Financial Assets Cash and cash equivalents $ 371,407 $ 371,407 $ 371,407 $ — $ — Securities available for sale 2,231,987 2,231,987 148 2,230,453 1,386 Securities held to maturity 2,337,342 2,294,777 — 2,293,091 1,686 Net loans and leases, including loans held for sale 14,750,792 14,464,274 — — 14,464,274 Loan servicing rights 13,521 17,546 — — 17,546 Derivative assets 54,220 54,220 — 54,220 — Accrued interest receivable 58,712 58,712 58,712 — — Financial Liabilities Deposits 16,065,647 16,045,323 13,489,152 2,556,171 — Short-term borrowings 2,503,010 2,503,277 2,503,277 — — Long-term borrowings 539,494 536,088 — — 536,088 Derivative liabilities 47,267 47,267 — 47,267 — Accrued interest payable 7,612 7,612 7,612 — — |
Parent Company Financial Stat59
Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Consolidated Balance Sheet of Parent Company Only | Balance Sheets (in thousands) December 31 2017 2016 Assets Cash and cash equivalents $ 165,698 $ 164,276 Securities available for sale 864 492 Other assets 22,344 17,405 Investment in bank subsidiary 4,553,703 2,598,520 Investments in and advances to non-bank subsidiaries 294,236 269,998 Total Assets $ 5,036,845 $ 3,050,691 Liabilities Other liabilities $ 33,000 $ 26,063 Advances from affiliates 306,096 295,897 Long-term borrowings 279,536 147,916 Subordinated notes: Short-term 7,993 8,172 Long-term 1,026 1,026 Total Liabilities 627,651 479,074 Stockholders’ Equity 4,409,194 2,571,617 Total Liabilities and Stockholders’ Equity $ 5,036,845 $ 3,050,691 |
Statements of Income of Parent Company Only | Statements of Income (in thousands) Year Ended December 31 2017 2016 2015 Income Dividend income from subsidiaries: Bank $ 149,000 $ 108,954 $ 87,580 Non-bank 9,210 8,525 7,863 158,210 117,479 95,443 Interest income 5,323 5,041 4,845 Other income 100 2,799 1,053 Total Income 163,633 125,319 101,341 Expenses Interest expense 17,977 13,609 9,526 Other expenses 10,320 10,377 8,993 Total Expenses 28,297 23,986 18,519 Income Before Taxes and Equity in Undistributed Income of Subsidiaries 135,336 101,333 82,822 Income tax benefit 2,737 6,352 5,088 138,073 107,685 87,910 Equity in undistributed income (loss) of subsidiaries: Bank 60,567 60,924 71,581 Non-bank 564 2,282 158 Net Income $ 199,204 $ 170,891 $ 159,649 |
Statements of Cash Flows of Parent Company Only | Statements of Cash Flows (in thousands) Year Ended December 31 2017 2016 2015 Operating Activities Net income $ 199,204 $ 170,891 $ 159,649 Adjustments to reconcile net income to net cash flows from operating activities: Undistributed earnings from subsidiaries (61,131 ) (63,206 ) (71,739 ) Other, net 5,441 (2,530 ) 680 Net cash flows provided by operating activities 143,514 105,155 88,590 Investing Activities Proceeds from sale of securities available for sale — 815 — Net (increase) decrease in advances to subsidiaries (9,838 ) (6,263 ) 3,285 Payment for further investment in subsidiaries (4,841 ) (71,050 ) (9,060 ) Net cash received in business combinations 3,173 1,089 — Net cash flows (used in) provided by investing activities (11,506 ) (75,409 ) (5,775 ) Financing Activities Net decrease in advance from affiliate 10,018 6,356 (2,797 ) Net decrease in short-term borrowings (179 ) (44 ) (135 ) Decrease in long-term debt (1,510 ) (10,291 ) (650 ) Increase in long-term debt 563 381 98,794 Net proceeds from issuance of common stock 11,181 18,472 12,731 Tax benefit of stock-based compensation — 1,813 28 Cash dividends paid: Preferred stock (8,041 ) (8,041 ) (8,041 ) Common stock (142,618 ) (101,670 ) (84,511 ) Net cash flows (used in) provided by financing activities (130,586 ) (93,024 ) 15,419 Net (Decrease) Increase in Cash and Cash Equivalents 1,422 (63,278 ) 98,234 Cash and cash equivalents at beginning of year 164,276 227,554 129,320 Cash and Cash Equivalents at End of Year $ 165,698 $ 164,276 $ 227,554 Cash paid during the year for: Interest $ 15,807 $ 13,620 $ 8,309 |
Quarterly Earnings Summary (U60
Quarterly Earnings Summary (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Earnings Summary (Unaudited) [Abstract] | |
Quarterly Financial Information | Dollars in thousands, except per share data Quarter Ended 2017 Dec. 31 Sept. 30 June 30 Mar. 31 Total interest income $ 271,085 $ 263,514 $ 251,034 $ 194,693 Total interest expense 41,049 38,283 32,619 21,941 Net interest income 230,036 225,231 218,415 172,752 Provision for credit losses 16,699 16,768 16,756 10,850 Net securities gains 21 2,777 493 2,625 Other non-interest income 65,083 63,374 65,585 52,491 Total non-interest expense 166,529 163,743 163,714 187,555 Net income 24,126 77,693 74,406 22,979 Net income available to common stockholders 22,115 75,683 72,396 20,969 Per Common Share Basic earnings per share $ 0.07 $ 0.23 $ 0.22 $ 0.09 Diluted earnings per share 0.07 0.23 0.22 0.09 Cash dividends declared 0.12 0.12 0.12 0.12 Quarter Ended 2016 Dec. 31 Sept. 30 June 30 Mar. 31 Total interest income $ 177,168 $ 175,110 $ 170,931 $ 155,754 Total interest expense 17,885 17,604 16,562 15,400 Net interest income 159,283 157,506 154,369 140,354 Provision for credit losses 12,705 14,639 16,640 11,768 Net securities gains 116 299 226 71 Other non-interest income 50,950 52,941 51,185 45,973 Total non-interest expense 123,806 121,050 129,629 136,648 Net income 51,291 52,168 41,300 26,132 Net income available to common stockholders 49,280 50,158 39,290 24,122 Per Common Share Basic earnings per share $ 0.23 $ 0.24 $ 0.19 $ 0.12 Diluted earnings per share 0.23 0.24 0.19 0.12 Cash dividends declared 0.12 0.12 0.12 0.12 |
Nature of Operations (Additiona
Nature of Operations (Additional Information) (Detail) | 12 Months Ended |
Dec. 31, 2017OfficeState | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of states, company operating financial services | State | 8 |
Number of banking offices | 417 |
Number of consumer finance offices | 77 |
Summary of Significant Accoun62
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Summary Of Significant Accounting Policies [Line Items] | ||
Minimum corporation reserves for commercial loan | $ 500 | $ 500 |
Core deposit intangibles amortization period, years | 10 years | |
Qualified affordable housing project investments | $ 20,900 | 14,000 |
Qualified affordable housing project investments, unfunded commitments | $ 67,200 | $ 9,800 |
Largest amount recognized in the financial statement of tax benefit threshold, minimum | Greater than 50% | |
Total commercial loans | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Number of days placed on non-accrual | 90 days | 90 days |
Installment Loans | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Number of days placed on non-accrual | 120 days | 120 days |
Residential Mortgages | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Number of days placed on non-accrual | 180 days | 180 days |
Minimum | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Useful life of the asset, years | 3 years | |
Estimated useful life of intangibles, years | 8 years | |
Maximum | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Useful life of the asset, years | 40 years | |
Estimated useful life of intangibles, years | 13 years |
New Accounting Standards (Detai
New Accounting Standards (Details) $ in Millions | 3 Months Ended |
Dec. 31, 2017USD ($) | |
Accounting Changes and Error Corrections [Abstract] | |
Reclassification due to tax reform | $ 14.7 |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) $ / shares in Units, $ in Thousands | Mar. 11, 2017USD ($)$ / sharesshares | Apr. 22, 2016USD ($)Branch | Feb. 13, 2016USD ($)shares | Sep. 18, 2015USD ($)Branch | Jul. 18, 2015USD ($) | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Business Acquisition [Line Items] | ||||||||
Goodwill recorded as a result of merger | $ 2,249,188 | $ 1,032,129 | $ 833,086 | |||||
Merger-related expenses | $ 56,513 | 37,439 | $ 3,033 | |||||
Pittsburgh | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill recorded as a result of merger | $ 1,800 | |||||||
Payments to acquire businesses, cash paid | 3,400 | |||||||
Other intangibles recorded as a result of merger | 1,400 | |||||||
Other assets recorded as a result of merger | $ 200 | |||||||
Warrant Expires in 2019 | ||||||||
Business Acquisition [Line Items] | ||||||||
Warrant issued, exercise price (in usd per share) | $ / shares | $ 11.52 | |||||||
Yadkin Financial Corporation (YDKN) | ||||||||
Business Acquisition [Line Items] | ||||||||
Assets acquired as a result of merger | $ 6,782,439 | |||||||
Loans acquired as a result of merger | 5,114,355 | |||||||
Deposits acquired as a result of merger | 5,176,915 | |||||||
Value of acquisition | $ 1,784,783 | |||||||
Common stock closing price (in usd per share) | $ / shares | $ 15.97 | |||||||
Common shares issued (in shares) | shares | 111,619,622 | |||||||
Common shares to be acquired, shares (in shares) | shares | 51,677,565 | |||||||
Number of shares entitled to receive as per merger agreement, Ratio | 2.16 | |||||||
Warrant issued, shares (in shares) | shares | 207,320 | |||||||
Warrant issued, exercise price (in usd per share) | $ / shares | $ 9.50 | |||||||
Goodwill recorded as a result of merger | $ 1,216,908 | |||||||
Core deposit intangibles recorded as result of the acquisition | 55,700 | |||||||
Merger-related expenses | $ 56,200 | |||||||
Percentage of contract termination cost | 30.90% | |||||||
Issuance costs incurred in connection with acquisition | $ 600 | |||||||
Cash acquired as a result of merger | $ 196,964 | |||||||
Yadkin Financial Corporation (YDKN) | Merger - Related Expenses | ||||||||
Business Acquisition [Line Items] | ||||||||
Severance costs | 24.30% | |||||||
Yadkin Financial Corporation (YDKN) | Warrant Expires in 2019 | ||||||||
Business Acquisition [Line Items] | ||||||||
Warrant issued, shares (in shares) | shares | 207,320 | 210,135 | ||||||
Warrant issued, exercise price (in usd per share) | $ / shares | $ 9.63 | |||||||
Fifth Third Bank Branches | ||||||||
Business Acquisition [Line Items] | ||||||||
Assets acquired as a result of merger | $ 312,424 | |||||||
Loans acquired as a result of merger | 95,354 | |||||||
Deposits acquired as a result of merger | 302,529 | |||||||
Value of acquisition | 0 | |||||||
Goodwill recorded as a result of merger | 14,146 | |||||||
Core deposit intangibles recorded as result of the acquisition | $ 4,100 | |||||||
Number of branch-banking locations acquired | Branch | 17 | |||||||
Cash acquired as a result of merger | $ 198,872 | |||||||
Fixed and other assets acquired as a result of merger | $ 14,100 | |||||||
Percentage of deposit premium paid | 1.97% | |||||||
Metro Bancorp Inc | ||||||||
Business Acquisition [Line Items] | ||||||||
Assets acquired as a result of merger | $ 2,783,665 | |||||||
Loans acquired as a result of merger | 1,862,447 | |||||||
Deposits acquired as a result of merger | 2,328,238 | |||||||
Value of acquisition | $ 404,242 | |||||||
Common shares issued (in shares) | shares | 34,041,181 | |||||||
Goodwill recorded as a result of merger | $ 185,054 | |||||||
Core deposit intangibles recorded as result of the acquisition | 24,200 | |||||||
Merger-related expenses | $ 400 | $ 31,000 | ||||||
Issuance costs incurred in connection with acquisition | $ 700 | |||||||
Cash acquired as a result of merger | $ 46,890 | |||||||
Common shares acquired | shares | 14,345,319 | |||||||
Metro Bancorp Inc | Merger - Related Expenses | ||||||||
Business Acquisition [Line Items] | ||||||||
Severance costs | 39.90% | |||||||
Bank of America Branches | ||||||||
Business Acquisition [Line Items] | ||||||||
Assets acquired as a result of merger | $ 153,134 | |||||||
Loans acquired as a result of merger | 842 | |||||||
Deposits acquired as a result of merger | 154,619 | |||||||
Value of acquisition | 0 | |||||||
Goodwill recorded as a result of merger | 1,485 | |||||||
Core deposit intangibles recorded as result of the acquisition | $ 3,000 | |||||||
Number of branch-banking locations acquired | Branch | 5 | |||||||
Cash acquired as a result of merger | $ 148,159 | |||||||
Fixed and other assets acquired as a result of merger | $ 2,000 | |||||||
Percentage of deposit premium paid | 1.96% |
Mergers and Acquisitions - Meas
Mergers and Acquisitions - Measurement Period Adjustments (Detail) - Yadkin Financial Corporation (YDKN) $ in Thousands | Dec. 31, 2017USD ($) |
Business Acquisition [Line Items] | |
Loans and leases | $ 5,114,355 |
Premises and equipment | 70,031 |
Deferred taxes | 125,100 |
Other liabilities | 68,264 |
Provisional Estimate | |
Business Acquisition [Line Items] | |
Loans and leases | 5,116,497 |
Premises and equipment | 95,208 |
Deferred taxes | 94,307 |
Other liabilities | 70,761 |
Increase (Decrease) | |
Business Acquisition [Line Items] | |
Loans and leases | (2,142) |
Premises and equipment | (25,177) |
Deferred taxes | 30,793 |
Other liabilities | $ (2,497) |
Mergers and Acquisitions - Pro
Mergers and Acquisitions - Pro Forma Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Business Acquisition Pro Forma Information [Line Items] | ||
Revenue (net interest income and non-interest income) | $ 1,155,977 | $ 1,101,638 |
Net income | 248,748 | 218,197 |
Net income available to common stockholders | $ 240,707 | $ 210,156 |
Earnings per common share - basic (in USD per share) | $ 0.80 | $ 0.67 |
Earnings per common share - diluted (in USD per share) | $ 0.79 | $ 0.67 |
Proforma Adjustments [Member] | ||
Business Acquisition Pro Forma Information [Line Items] | ||
Revenue (net interest income and non-interest income) | $ 3,419 | $ (5,290) |
Net income | (1,165) | (7,862) |
Net income available to common stockholders | $ (1,165) | $ (7,862) |
Earnings per common share - basic (in USD per share) | $ 0 | $ 0 |
Earnings per common share - diluted (in USD per share) | $ 0 | $ 0 |
Yadkin Financial Corporation (YDKN) | ||
Business Acquisition Pro Forma Information [Line Items] | ||
Revenue (net interest income and non-interest income) | $ 74,574 | $ 293,655 |
Net income | 22,435 | 55,168 |
Net income available to common stockholders | $ 22,435 | $ 55,168 |
Earnings per common share - basic (in USD per share) | $ 0.78 | $ 1.15 |
Earnings per common share - diluted (in USD per share) | $ 0.77 | $ 1.14 |
F.N.B. Corporation | ||
Business Acquisition Pro Forma Information [Line Items] | ||
Revenue (net interest income and non-interest income) | $ 1,077,984 | $ 813,273 |
Net income | 227,478 | 170,891 |
Net income available to common stockholders | $ 219,437 | $ 162,850 |
Earnings per common share - basic (in USD per share) | $ 0.92 | $ 0.79 |
Earnings per common share - diluted (in USD per share) | $ 0.91 | $ 0.78 |
Mergers and Acquisitions - Amou
Mergers and Acquisitions - Amounts Recorded on Consolidated Balance Sheets in Conjunction with Acquisition (Detail) - USD ($) $ in Thousands | Mar. 11, 2017 | Apr. 22, 2016 | Feb. 13, 2016 | Sep. 18, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | |||||||
Goodwill recognized | $ 2,249,188 | $ 1,032,129 | $ 833,086 | ||||
Yadkin Financial Corporation (YDKN) | |||||||
Business Acquisition [Line Items] | |||||||
Fair value of consideration paid | $ 1,784,783 | ||||||
Cash and cash equivalents | 196,964 | ||||||
Securities | 940,272 | ||||||
Loans | 5,114,355 | ||||||
Core deposit and other intangible assets | 69,555 | ||||||
Fixed and other assets | 461,293 | ||||||
Total identifiable assets acquired | 6,782,439 | ||||||
Deposits | 5,176,915 | ||||||
Borrowings | 969,385 | ||||||
Other liabilities | 68,264 | ||||||
Total liabilities assumed | 6,214,564 | ||||||
Fair value of net identifiable assets acquired | 567,875 | ||||||
Goodwill recognized | $ 1,216,908 | ||||||
Fifth Third Bank Branches | |||||||
Business Acquisition [Line Items] | |||||||
Fair value of consideration paid | $ 0 | ||||||
Cash and cash equivalents | 198,872 | ||||||
Securities | 0 | ||||||
Loans | 95,354 | ||||||
Core deposit and other intangible assets | 4,129 | ||||||
Fixed and other assets | 14,069 | ||||||
Total identifiable assets acquired | 312,424 | ||||||
Deposits | 302,529 | ||||||
Borrowings | 0 | ||||||
Other liabilities | 24,041 | ||||||
Total liabilities assumed | 326,570 | ||||||
Fair value of net identifiable assets acquired | (14,146) | ||||||
Goodwill recognized | $ 14,146 | ||||||
Metro Bancorp Inc | |||||||
Business Acquisition [Line Items] | |||||||
Fair value of consideration paid | $ 404,242 | ||||||
Cash and cash equivalents | 46,890 | ||||||
Securities | 722,980 | ||||||
Loans | 1,862,447 | ||||||
Core deposit and other intangible assets | 24,163 | ||||||
Fixed and other assets | 127,185 | ||||||
Total identifiable assets acquired | 2,783,665 | ||||||
Deposits | 2,328,238 | ||||||
Borrowings | 227,539 | ||||||
Other liabilities | 8,700 | ||||||
Total liabilities assumed | 2,564,477 | ||||||
Fair value of net identifiable assets acquired | 219,188 | ||||||
Goodwill recognized | $ 185,054 | ||||||
Bank of America Branches | |||||||
Business Acquisition [Line Items] | |||||||
Fair value of consideration paid | $ 0 | ||||||
Cash and cash equivalents | 148,159 | ||||||
Securities | 0 | ||||||
Loans | 842 | ||||||
Core deposit and other intangible assets | 3,000 | ||||||
Fixed and other assets | 1,133 | ||||||
Total identifiable assets acquired | 153,134 | ||||||
Deposits | 154,619 | ||||||
Borrowings | 0 | ||||||
Other liabilities | 0 | ||||||
Total liabilities assumed | 154,619 | ||||||
Fair value of net identifiable assets acquired | (1,485) | ||||||
Goodwill recognized | $ 1,485 |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 2,802,621 | $ 2,260,021 |
Gross Unrealized Gains | 1,721 | 4,172 |
Gross Unrealized Losses | (39,780) | (32,206) |
Fair Value | 2,764,562 | 2,231,987 |
U.S. Treasury | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 0 | 29,874 |
Gross Unrealized Gains | 0 | 79 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 0 | 29,953 |
U.S. government-sponsored entities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 347,767 | 367,604 |
Gross Unrealized Gains | 52 | 864 |
Gross Unrealized Losses | (3,877) | (3,370) |
Fair Value | 343,942 | 365,098 |
Agency mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,615,168 | 1,267,535 |
Gross Unrealized Gains | 1,225 | 2,257 |
Gross Unrealized Losses | (17,519) | (16,994) |
Fair Value | 1,598,874 | 1,252,798 |
Agency collateralized mortgage obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 813,034 | 546,659 |
Gross Unrealized Gains | 0 | 419 |
Gross Unrealized Losses | (18,077) | (11,104) |
Fair Value | 794,957 | 535,974 |
Non-agency collateralized mortgage obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1 | 891 |
Gross Unrealized Gains | 0 | 6 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 1 | 897 |
Commercial mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 0 | 1,292 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | (1) |
Fair Value | 0 | 1,291 |
States of the U.S. and political subdivisions | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 21,151 | 36,065 |
Gross Unrealized Gains | 6 | 86 |
Gross Unrealized Losses | (64) | (302) |
Fair Value | 21,093 | 35,849 |
Other debt securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 4,913 | 9,828 |
Gross Unrealized Gains | 0 | 94 |
Gross Unrealized Losses | (243) | (435) |
Fair Value | 4,670 | 9,487 |
Total debt securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,802,034 | 2,259,748 |
Gross Unrealized Gains | 1,283 | 3,805 |
Gross Unrealized Losses | (39,780) | (32,206) |
Fair Value | 2,763,537 | 2,231,347 |
Equity securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 587 | 273 |
Gross Unrealized Gains | 438 | 367 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 1,025 | $ 640 |
Securities - Schedule of Amor69
Securities - Schedule of Amortized Cost and Fair Value of Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 3,242,268 | $ 2,337,342 |
Gross Unrealized Gains | 17,357 | 8,226 |
Gross Unrealized Losses | (41,246) | (50,791) |
Fair Value | 3,218,379 | 2,294,777 |
U.S. Treasury | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 500 | 500 |
Gross Unrealized Gains | 134 | 137 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 634 | 637 |
U.S. government-sponsored entities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 247,310 | 272,645 |
Gross Unrealized Gains | 93 | 348 |
Gross Unrealized Losses | (4,388) | (4,475) |
Fair Value | 243,015 | 268,518 |
Agency mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 1,219,802 | 852,215 |
Gross Unrealized Gains | 3,475 | 5,654 |
Gross Unrealized Losses | (9,058) | (8,645) |
Fair Value | 1,214,219 | 849,224 |
Agency collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 777,146 | 743,148 |
Gross Unrealized Gains | 32 | 447 |
Gross Unrealized Losses | (20,095) | (17,801) |
Fair Value | 757,083 | 725,794 |
Non-agency collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 1,689 | |
Gross Unrealized Gains | 3 | |
Gross Unrealized Losses | (6) | |
Fair Value | 1,686 | |
Commercial mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 80,786 | 49,797 |
Gross Unrealized Gains | 414 | 181 |
Gross Unrealized Losses | (575) | (226) |
Fair Value | 80,625 | 49,752 |
States of the U.S. and political subdivisions | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 916,724 | 417,348 |
Gross Unrealized Gains | 13,209 | 1,456 |
Gross Unrealized Losses | (7,130) | (19,638) |
Fair Value | $ 922,803 | $ 399,166 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule Of Securities [Line Items] | |||
Net proceeds from sale of securities | $ 786,762,000 | $ 615,199,000 | $ 33,499,000 |
Gross realized gain (loss) | 3,700,000 | ||
Gross gains | 4,700,000 | ||
Gross losses | 1,000,000 | ||
Proceeds from sale of HTM securities | 57,050,000 | 0 | 0 |
HTM securities sold, carrying value | 54,900,000 | ||
Realized gain (loss) | 2,200,000 | ||
Realized gain on sale of HTM securities | 2,200,000 | ||
Realized loss on sale of HTM securities | $ 4,000 | ||
Return on sale of HTM securities, percent | 85.00% | ||
OTTI losses on securities | $ 0 | $ 0 | $ 0 |
Municipal bond portfolio, value | $ 937,800,000 | ||
Percentage of formal credit enhancement insurance of municipalities | 62.00% | ||
Municipal Bonds | Weighted Average | |||
Schedule Of Securities [Line Items] | |||
Average holding size of securities in bond portfolio | $ 3,000,000 | ||
Municipal Bonds | Credit Concentration Risk | General Obligation Bonds | A Rating | Minimum | |||
Schedule Of Securities [Line Items] | |||
Percentage of portfolio | 99.00% | ||
Municipal Bonds | Geographic Concentration Risk | Pennsylvania, Ohio and Maryland | |||
Schedule Of Securities [Line Items] | |||
Percentage of portfolio | 65.00% |
Securities - Gross Gains and Gr
Securities - Gross Gains and Gross Losses Realized on Sales of Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |||
Gross gains | $ 6,866 | $ 713 | $ 831 |
Gross losses | (950) | (1) | (9) |
Net gains | $ 5,916 | $ 712 | $ 822 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule Of Securities [Line Items] | ||
Available for sale, due in one year or less, amortized cost | $ 81,819 | |
Available for sale, due from one to five years, amortized cost | 278,153 | |
Available for sale, due from five to ten years, amortized cost | 10,892 | |
Available for sale, due after ten years, amortized cost | 2,967 | |
Available for sale, with contractual maturities, amortized cost | 373,831 | |
Total securities available for sale, amortized cost | 2,802,621 | $ 2,260,021 |
Available for sale, due in one year or less, fair value | 81,594 | |
Available for sale, due from one to five years, fair value | 274,516 | |
Available for sale, due from five to ten years, fair value | 10,795 | |
Available for sale, due after ten years, fair value | 2,800 | |
Available for sale, with contractual maturities, fair value | 369,705 | |
Total securities available for sale, fair value | 2,764,562 | 2,231,987 |
Held to maturity, due in one year or less, amortized cost | 30,438 | |
Held to maturity, due from one to five years, amortized cost | 225,054 | |
Held to maturity, due from five to ten years, amortized cost | 81,650 | |
Held to maturity, due after ten years, amortized cost | 827,392 | |
Securities held to maturity, with contractual maturities, amortized cost | 1,164,534 | |
Held to maturity, with contractual maturities, amortized cost | 3,242,268 | 2,337,342 |
Held to maturity, due in one year or less, fair value | 30,254 | |
Held to maturity, due from one to five years, fair value | 220,921 | |
Held to maturity, due from five to ten years, fair value | 82,672 | |
Held to maturity, due after ten years, fair value | 832,605 | |
Securities held to maturity, with contractual maturities, fair value | 1,166,452 | |
Held to maturity, with contractual maturities, fair value | 3,218,379 | 2,294,777 |
Agency mortgage-backed securities | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, amortized cost | 1,615,168 | 1,267,535 |
Total securities available for sale, fair value | 1,598,874 | 1,252,798 |
Held to maturity, with contractual maturities, amortized cost | 1,219,802 | |
Held to maturity, with contractual maturities, fair value | 1,214,219 | |
Agency collateralized mortgage obligations | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, amortized cost | 813,034 | 546,659 |
Total securities available for sale, fair value | 794,957 | 535,974 |
Held to maturity, with contractual maturities, amortized cost | 777,146 | |
Held to maturity, with contractual maturities, fair value | 757,083 | |
Non-agency collateralized mortgage obligations | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, amortized cost | 1 | 891 |
Total securities available for sale, fair value | 1 | 897 |
Held to maturity, with contractual maturities, amortized cost | 0 | |
Held to maturity, with contractual maturities, fair value | 0 | |
Commercial mortgage-backed securities | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, amortized cost | 0 | 1,292 |
Total securities available for sale, fair value | 0 | 1,291 |
Held to maturity, with contractual maturities, amortized cost | 80,786 | |
Held to maturity, with contractual maturities, fair value | 80,625 | |
Equity securities | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, amortized cost | 587 | 273 |
Total securities available for sale, fair value | 1,025 | $ 640 |
Held to maturity, with contractual maturities, amortized cost | 0 | |
Held to maturity, with contractual maturities, fair value | $ 0 |
Securities - Schedule of Securi
Securities - Schedule of Securities Pledged as Collateral (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
To secure public deposits, trust deposits and for other purposes as required by law | $ 3,491,634 | $ 2,779,335 |
As collateral for short-term borrowings | $ 263,756 | $ 322,038 |
Securities pledged as a percent of total securities | 62.50% | 67.90% |
Securities - Summaries of Fair
Securities - Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment (Detail) $ in Thousands | Dec. 31, 2017USD ($)Security | Dec. 31, 2016USD ($)Security |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 71 | 113 |
Number of available for sale securities, greater than 1 year | Security | 75 | 12 |
Number of available for sale securities | Security | 146 | 125 |
Securities available for sale, less than 12 months, fair value | $ 1,503,806 | $ 1,644,951 |
Securities available for sale, less than 12 months, unrealized losses | (14,372) | (27,928) |
Securities available for sale, 12 months or more, fair value | 1,016,111 | 93,510 |
Securities available for sale, 12 months or more, unrealized losses | (25,408) | (4,278) |
Securities available for sale, fair value, total | 2,519,917 | 1,738,461 |
Securities available for sale, unrealized losses, total | $ (39,780) | $ (32,206) |
Number of held to maturity securities | Security | 168 | 186 |
Securities held to maturity, less than 12 months, fair value | $ 1,061,703 | $ 1,513,912 |
Securities held to maturity, less than 12 months, unrealized losses | (7,851) | (46,484) |
Securities held to maturity, greater than 12 months, fair value | 984,076 | 120,957 |
Securities held to maturity, greater than 12 months, unrealized losses | (33,395) | (4,307) |
Securities held to maturity, fair value, total | 2,045,779 | 1,634,869 |
Securities held to maturity, unrealized losses, total | $ 41,246 | $ 50,791 |
Less than 12 Months | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 73 | 173 |
12 Months or More | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 95 | 13 |
U.S. government-sponsored entities | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 7 | 11 |
Number of available for sale securities, greater than 1 year | Security | 10 | 0 |
Number of available for sale securities | Security | 17 | 11 |
Securities available for sale, less than 12 months, fair value | $ 106,809 | $ 211,636 |
Securities available for sale, less than 12 months, unrealized losses | (363) | (3,370) |
Securities available for sale, 12 months or more, fair value | 201,485 | 0 |
Securities available for sale, 12 months or more, unrealized losses | (3,514) | 0 |
Securities available for sale, fair value, total | 308,294 | 211,636 |
Securities available for sale, unrealized losses, total | $ (3,877) | $ (3,370) |
Number of held to maturity securities | Security | 14 | 10 |
Securities held to maturity, less than 12 months, fair value | $ 54,790 | $ 185,525 |
Securities held to maturity, less than 12 months, unrealized losses | (239) | (4,475) |
Securities held to maturity, greater than 12 months, fair value | 185,851 | 0 |
Securities held to maturity, greater than 12 months, unrealized losses | (4,149) | 0 |
Securities held to maturity, fair value, total | 240,641 | 185,525 |
Securities held to maturity, unrealized losses, total | $ 4,388 | $ 4,475 |
U.S. government-sponsored entities | Less than 12 Months | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 4 | 10 |
U.S. government-sponsored entities | 12 Months or More | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 10 | 0 |
Agency mortgage-backed securities | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 43 | 55 |
Number of available for sale securities, greater than 1 year | Security | 28 | 0 |
Number of available for sale securities | Security | 71 | 55 |
Securities available for sale, less than 12 months, fair value | $ 976,738 | $ 1,056,731 |
Securities available for sale, less than 12 months, unrealized losses | (7,723) | (16,994) |
Securities available for sale, 12 months or more, fair value | 473,625 | 0 |
Securities available for sale, 12 months or more, unrealized losses | (9,796) | 0 |
Securities available for sale, fair value, total | 1,450,363 | 1,056,731 |
Securities available for sale, unrealized losses, total | $ (17,519) | $ (16,994) |
Number of held to maturity securities | Security | 47 | 36 |
Securities held to maturity, less than 12 months, fair value | $ 648,485 | $ 551,404 |
Securities held to maturity, less than 12 months, unrealized losses | (4,855) | (8,645) |
Securities held to maturity, greater than 12 months, fair value | 183,989 | 0 |
Securities held to maturity, greater than 12 months, unrealized losses | (4,203) | 0 |
Securities held to maturity, fair value, total | 832,474 | 551,404 |
Securities held to maturity, unrealized losses, total | $ 9,058 | $ 8,645 |
Agency mortgage-backed securities | Less than 12 Months | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 36 | 36 |
Agency mortgage-backed securities | 12 Months or More | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 11 | 0 |
Agency collateralized mortgage obligations | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 14 | 26 |
Number of available for sale securities, greater than 1 year | Security | 33 | 9 |
Number of available for sale securities | Security | 47 | 35 |
Securities available for sale, less than 12 months, fair value | $ 409,005 | $ 346,662 |
Securities available for sale, less than 12 months, unrealized losses | (6,231) | (7,261) |
Securities available for sale, 12 months or more, fair value | 335,452 | 89,040 |
Securities available for sale, 12 months or more, unrealized losses | (11,846) | (3,843) |
Securities available for sale, fair value, total | 744,457 | 435,702 |
Securities available for sale, unrealized losses, total | $ (18,077) | $ (11,104) |
Number of held to maturity securities | Security | 49 | 41 |
Securities held to maturity, less than 12 months, fair value | $ 275,290 | $ 516,237 |
Securities held to maturity, less than 12 months, unrealized losses | (1,701) | (13,710) |
Securities held to maturity, greater than 12 months, fair value | 473,257 | 112,690 |
Securities held to maturity, greater than 12 months, unrealized losses | (18,394) | (4,091) |
Securities held to maturity, fair value, total | 748,547 | 628,927 |
Securities held to maturity, unrealized losses, total | $ 20,095 | $ 17,801 |
Agency collateralized mortgage obligations | Less than 12 Months | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 14 | 29 |
Agency collateralized mortgage obligations | 12 Months or More | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 35 | 12 |
Non-agency collateralized mortgage obligations | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 0 | |
Number of available for sale securities, greater than 1 year | Security | 0 | |
Number of available for sale securities | Security | 0 | |
Securities available for sale, less than 12 months, fair value | $ 0 | |
Securities available for sale, less than 12 months, unrealized losses | 0 | |
Securities available for sale, 12 months or more, fair value | 0 | |
Securities available for sale, 12 months or more, unrealized losses | 0 | |
Securities available for sale, fair value, total | 0 | |
Securities available for sale, unrealized losses, total | $ 0 | |
Number of held to maturity securities | Security | 0 | 3 |
Securities held to maturity, less than 12 months, fair value | $ 0 | $ 1,128 |
Securities held to maturity, less than 12 months, unrealized losses | 0 | (6) |
Securities held to maturity, greater than 12 months, fair value | 0 | 0 |
Securities held to maturity, greater than 12 months, unrealized losses | 0 | 0 |
Securities held to maturity, fair value, total | 0 | 1,128 |
Securities held to maturity, unrealized losses, total | $ 0 | $ 6 |
Non-agency collateralized mortgage obligations | Less than 12 Months | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 0 | 3 |
Non-agency collateralized mortgage obligations | 12 Months or More | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 0 | 0 |
Commercial mortgage-backed securities | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 0 | 1 |
Number of available for sale securities, greater than 1 year | Security | 0 | 0 |
Number of available for sale securities | Security | 0 | 1 |
Securities available for sale, less than 12 months, fair value | $ 0 | $ 1,291 |
Securities available for sale, less than 12 months, unrealized losses | 0 | (1) |
Securities available for sale, 12 months or more, fair value | 0 | 0 |
Securities available for sale, 12 months or more, unrealized losses | 0 | 0 |
Securities available for sale, fair value, total | 0 | 1,291 |
Securities available for sale, unrealized losses, total | $ 0 | $ (1) |
Number of held to maturity securities | Security | 5 | 2 |
Securities held to maturity, less than 12 months, fair value | $ 26,399 | $ 12,317 |
Securities held to maturity, less than 12 months, unrealized losses | (123) | (10) |
Securities held to maturity, greater than 12 months, fair value | 19,443 | 8,267 |
Securities held to maturity, greater than 12 months, unrealized losses | (452) | (216) |
Securities held to maturity, fair value, total | 45,842 | 20,584 |
Securities held to maturity, unrealized losses, total | $ 575 | $ 226 |
Commercial mortgage-backed securities | Less than 12 Months | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 3 | 1 |
Commercial mortgage-backed securities | 12 Months or More | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 2 | 1 |
States of the U.S. and political subdivisions | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 7 | 20 |
Number of available for sale securities, greater than 1 year | Security | 1 | 0 |
Number of available for sale securities | Security | 8 | 20 |
Securities available for sale, less than 12 months, fair value | $ 11,254 | $ 28,631 |
Securities available for sale, less than 12 months, unrealized losses | (55) | (302) |
Securities available for sale, 12 months or more, fair value | 879 | 0 |
Securities available for sale, 12 months or more, unrealized losses | (9) | 0 |
Securities available for sale, fair value, total | 12,133 | 28,631 |
Securities available for sale, unrealized losses, total | $ (64) | $ (302) |
Number of held to maturity securities | Security | 53 | 94 |
Securities held to maturity, less than 12 months, fair value | $ 56,739 | $ 247,301 |
Securities held to maturity, less than 12 months, unrealized losses | (933) | (19,638) |
Securities held to maturity, greater than 12 months, fair value | 121,536 | 0 |
Securities held to maturity, greater than 12 months, unrealized losses | (6,197) | 0 |
Securities held to maturity, fair value, total | 178,275 | 247,301 |
Securities held to maturity, unrealized losses, total | $ 7,130 | $ 19,638 |
States of the U.S. and political subdivisions | Less than 12 Months | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 16 | 94 |
States of the U.S. and political subdivisions | 12 Months or More | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of held to maturity securities | Security | 37 | 0 |
Other debt securities | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 0 | 0 |
Number of available for sale securities, greater than 1 year | Security | 3 | 3 |
Number of available for sale securities | Security | 3 | 3 |
Securities available for sale, less than 12 months, fair value | $ 0 | $ 0 |
Securities available for sale, less than 12 months, unrealized losses | 0 | 0 |
Securities available for sale, 12 months or more, fair value | 4,670 | 4,470 |
Securities available for sale, 12 months or more, unrealized losses | (243) | (435) |
Securities available for sale, fair value, total | 4,670 | 4,470 |
Securities available for sale, unrealized losses, total | $ (243) | $ (435) |
Equity securities | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Number of available for sale securities, less than 1 year | Security | 0 | |
Number of available for sale securities, greater than 1 year | Security | 0 | |
Number of available for sale securities | Security | 0 | |
Securities available for sale, less than 12 months, fair value | $ 0 | |
Securities available for sale, less than 12 months, unrealized losses | 0 | |
Securities available for sale, 12 months or more, fair value | 0 | |
Securities available for sale, 12 months or more, unrealized losses | 0 | |
Securities available for sale, fair value, total | 0 | |
Securities available for sale, unrealized losses, total | $ 0 |
Securities - Summary of Cumulat
Securities - Summary of Cumulative Credit-Related OTTI Charges (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | |
Beginning balance | $ 27 |
Loss where impairment was not previously recognized | 0 |
Additional loss where impairment was previously recognized | 0 |
Reduction due to credit impaired securities sold | (27) |
Ending balance | 0 |
Equity securities | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | |
Beginning balance | 27 |
Loss where impairment was not previously recognized | 0 |
Additional loss where impairment was previously recognized | 0 |
Reduction due to credit impaired securities sold | (27) |
Ending balance | $ 0 |
Federal Home Loan Bank Stock -
Federal Home Loan Bank Stock - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Banking and Thrift [Abstract] | ||
Federal Home Loan Bank stock | $ 160.5 | $ 85 |
Loans and Leases - Summary of L
Loans and Leases - Summary of Loans and Leases, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 20,998,766 | $ 14,896,943 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 8,741,864 | 5,435,162 |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 4,170,667 | 3,042,781 |
Commercial leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 266,720 | 196,636 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 17,063 | 35,878 |
Total consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 7,802,452 | 6,186,486 |
Total commercial loans and leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 13,196,314 | 8,710,457 |
Direct installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,905,535 | 1,844,399 |
Residential mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,702,691 | 1,844,574 |
Indirect installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,448,433 | 1,196,313 |
Consumer lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,745,793 | 1,301,200 |
Originated Loans and Leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 15,345,490 | 12,547,987 |
Originated Loans and Leases | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 5,174,783 | 4,095,817 |
Originated Loans and Leases | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,495,247 | 2,711,886 |
Originated Loans and Leases | Commercial leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 266,720 | 196,636 |
Originated Loans and Leases | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 17,063 | 35,878 |
Originated Loans and Leases | Total consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 6,391,677 | 5,507,770 |
Originated Loans and Leases | Total commercial loans and leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 8,953,813 | 7,040,217 |
Originated Loans and Leases | Direct installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,755,713 | 1,765,257 |
Originated Loans and Leases | Residential mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,036,226 | 1,446,776 |
Originated Loans and Leases | Indirect installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,448,268 | 1,196,110 |
Originated Loans and Leases | Consumer lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,151,470 | 1,099,627 |
Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 5,653,276 | 2,348,956 |
Acquired Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,567,081 | 1,339,345 |
Acquired Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 675,420 | 330,895 |
Acquired Loans | Commercial leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 0 | 0 |
Acquired Loans | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 0 | 0 |
Acquired Loans | Total consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,410,775 | 678,716 |
Acquired Loans | Total commercial loans and leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 4,242,501 | 1,670,240 |
Acquired Loans | Direct installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 149,822 | 79,142 |
Acquired Loans | Residential mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 666,465 | 397,798 |
Acquired Loans | Indirect installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 165 | 203 |
Acquired Loans | Consumer lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 594,323 | $ 201,573 |
Loans and Leases - Certain Info
Loans and Leases - Certain Information Relating to Regency Consumer Finance Loans (Detail) - Consumer lines of credit - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Regency consumer finance loans | $ 174,916 | $ 184,687 |
Loan portfolio diversification risk | Loans and leases receivable net of deferred income | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 0.80% | 1.20% |
Loans and Leases - Certain In79
Loans and Leases - Certain Information Relating to Commercial Real Estate Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Commercial construction, acquisition and development loans | $ 1,170,175 | $ 597,617 |
Credit Concentration Risk | Commercial construction loans | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 5.60% | 4.00% |
Loan portfolio diversification risk | Commercial real estate loans | Percent owner-occupied | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 35.30% | 36.20% |
Loan portfolio diversification risk | Commercial real estate loans | Percent non-owner-occupied | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 64.70% | 63.80% |
Loans and Leases - Summary of80
Loans and Leases - Summary of Loans to Related Parties (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Loans and Leases Receivable, Related Parties [Roll Forward] | |
Balance at beginning of period | $ 21,569 |
New loans | 1,171 |
Repayments | (3,447) |
Other | (518) |
Balance at end of period | $ 19,811 |
Loans and Leases - Summary of O
Loans and Leases - Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $ 20,998,766 | $ 14,896,943 |
Accounted for under ASC 310-30: | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 5,176,015 | 2,346,687 |
Carrying amount | 4,834,256 | 2,015,904 |
Accounted for under ASC 310-20: | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 835,130 | 342,015 |
Carrying amount | 812,322 | 325,784 |
Total acquired loans: | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 6,011,145 | 2,688,702 |
Carrying amount | $ 5,646,578 | $ 2,341,688 |
Loans and Leases - Additional I
Loans and Leases - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | $ 20,998,766,000 | $ 14,896,943,000 | |
Reclassification from non-accretable difference | 155,840,000 | $ 92,823,000 | |
Sustained period of delinquency for impairment evaluation | 90 days | ||
Minimum reserves for commercial loan | 500,000 | $ 500,000 | |
Minimum amount to allocate specific valuation allowance | 500,000 | ||
Interest income on impaired loans still accruing | 6,100,000 | 4,600,000 | $ 4,100,000 |
Restructured loans returned to performing status | 3,900,000 | ||
Valuation for impairment of loans with pooled reserves | 500,000 | ||
Pooled reserves for all other classes of loans | 4,000,000 | 3,700,000 | |
Loan Purchased not Subject to ASC 310-30 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans acquired and accounted for under ASC 310-30, Fair value | 778,400,000 | ||
Loans acquired and accounted for under ASC 310-30, Unpaid principal balance | 791,300,000 | ||
Loans acquired and accounted for under ASC 310-30, Contractual cash flows not expected to be collected | 122,900,000 | ||
Purchased credit-impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | $ 1,900,000 | $ 2,800,000 | |
Credit Concentration Risk | Acquired Loans Receivable | Purchased credit-impaired loans | Minimum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 0.03% | ||
Credit Concentration Risk | Acquired Loans Receivable | Purchased credit-impaired loans | Maximum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 0.12% | ||
Total commercial loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Threshold period past due for default non-accrual status of trade accounts receivable | 90 days | 90 days | |
Installment Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Threshold period past due for default non-accrual status of trade accounts receivable | 120 days | 120 days | |
Residential Mortgages | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Threshold period past due for default non-accrual status of trade accounts receivable | 180 days | 180 days | |
Carrying value of OREO through foreclosure | $ 3,600,000 | ||
Mortgage loans on real estate, foreclosure | $ 15,200,000 | $ 12,000,000 |
Loans and Leases - Summary of C
Loans and Leases - Summary of Change in Accretable Yield of Acquired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Balance at beginning of period | $ 467,070 | $ 256,120 |
Acquisitions | 444,715 | 308,312 |
Reduction due to unexpected early payoffs | (127,949) | (86,046) |
Reclass from non-accretable difference | 155,840 | 92,823 |
Disposals/transfers | (3,559) | (409) |
Other | (658) | 0 |
Accretion | (226,978) | (103,730) |
Balance at end of period | $ 708,481 | $ 467,070 |
Loans and Leases - Summary of A
Loans and Leases - Summary of Acquisition of Purchased Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Accretable yield | $ (226,978) | $ (103,730) |
Yadkin Financial Corporation (YDKN) | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually required cash flows at acquisition | 5,131,765 | |
Non-accretable difference (expected losses and foregone interest) | 430,097 | |
Cash flows expected to be collected at acquisition | 4,701,668 | |
Accretable yield | (444,715) | |
Fair value of acquired loans at acquisition | 4,256,953 | |
Yadkin Financial Corporation (YDKN) | Acquired Impaired Loans | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually required cash flows at acquisition | 46,053 | |
Non-accretable difference (expected losses and foregone interest) | 23,924 | |
Cash flows expected to be collected at acquisition | 22,129 | |
Accretable yield | (3,266) | |
Fair value of acquired loans at acquisition | 18,863 | |
Yadkin Financial Corporation (YDKN) | Acquired Performing Loans | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually required cash flows at acquisition | 5,085,712 | |
Non-accretable difference (expected losses and foregone interest) | 406,173 | |
Cash flows expected to be collected at acquisition | 4,679,539 | |
Accretable yield | (441,449) | |
Fair value of acquired loans at acquisition | $ 4,238,090 |
Loans and Leases - Summary of N
Loans and Leases - Summary of Non-Performing Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | $ 53,991 | $ 46,933 |
Non-Performing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 74,635 | 65,479 |
Troubled debt restructurings | 23,481 | 20,428 |
Total non-performing loans | 98,116 | 85,907 |
Other real estate owned (OREO) | 40,606 | 32,490 |
Total non-performing assets | $ 138,722 | $ 118,397 |
Non-performing loans / total loans and leases | 0.47% | 0.58% |
Non-performing loans OREO / total loans and leases OREO | 0.66% | 0.79% |
Non-performing assets / total assets | 0.44% | 0.54% |
Loans and Leases - Age Analysis
Loans and Leases - Age Analysis of Past Due Loans, by Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | $ 20,998,766 | $ 14,896,943 |
Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 8,741,864 | 5,435,162 |
Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 4,170,667 | 3,042,781 |
Commercial leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 266,720 | 196,636 |
Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 17,063 | 35,878 |
Total commercial loans and leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 13,196,314 | 8,710,457 |
Direct installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 1,905,535 | 1,844,399 |
Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 2,702,691 | 1,844,574 |
Indirect installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 1,448,433 | 1,196,313 |
Consumer lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 1,745,793 | 1,301,200 |
Total consumer loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 7,802,452 | 6,186,486 |
Originated Loans and Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 63,644 | 62,083 |
Total Past Due | 134,911 | 131,046 |
Current | 15,210,579 | 12,416,941 |
Total Loans and Leases | 15,345,490 | 12,547,987 |
Originated Loans and Leases | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 24,773 | 20,114 |
Total Past Due | 33,047 | 28,567 |
Current | 5,141,736 | 4,067,250 |
Total Loans and Leases | 5,174,783 | 4,095,817 |
Originated Loans and Leases | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 17,077 | 24,141 |
Total Past Due | 26,028 | 40,163 |
Current | 3,469,219 | 2,671,723 |
Total Loans and Leases | 3,495,247 | 2,711,886 |
Originated Loans and Leases | Commercial leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 1,574 | 3,429 |
Total Past Due | 2,997 | 4,403 |
Current | 263,723 | 192,233 |
Total Loans and Leases | 266,720 | 196,636 |
Originated Loans and Leases | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 1,000 | 1,000 |
Total Past Due | 1,236 | 1,481 |
Current | 15,827 | 34,397 |
Total Loans and Leases | 17,063 | 35,878 |
Originated Loans and Leases | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 44,424 | 48,684 |
Total Past Due | 63,308 | 74,614 |
Current | 8,890,505 | 6,965,603 |
Total Loans and Leases | 8,953,813 | 7,040,217 |
Originated Loans and Leases | Direct installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 8,896 | 6,484 |
Total Past Due | 26,554 | 21,443 |
Current | 1,729,159 | 1,743,814 |
Total Loans and Leases | 1,755,713 | 1,765,257 |
Originated Loans and Leases | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 5,771 | 3,316 |
Total Past Due | 22,699 | 16,924 |
Current | 2,013,527 | 1,429,852 |
Total Loans and Leases | 2,036,226 | 1,446,776 |
Originated Loans and Leases | Indirect installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 2,240 | 1,983 |
Total Past Due | 13,164 | 11,808 |
Current | 1,435,104 | 1,184,302 |
Total Loans and Leases | 1,448,268 | 1,196,110 |
Originated Loans and Leases | Consumer lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 2,313 | 1,616 |
Total Past Due | 9,186 | 6,257 |
Current | 1,142,284 | 1,093,370 |
Total Loans and Leases | 1,151,470 | 1,099,627 |
Originated Loans and Leases | Total consumer loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 19,220 | 13,399 |
Total Past Due | 71,603 | 56,432 |
Current | 6,320,074 | 5,451,338 |
Total Loans and Leases | 6,391,677 | 5,507,770 |
Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 10,991 | 3,396 |
Total Past Due | 167,867 | 68,130 |
Current | 5,768,610 | 2,430,340 |
(Discount)/ Premium | (283,201) | (149,514) |
Total Loans and Leases | 5,653,276 | 2,348,956 |
Acquired Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 3,975 | 949 |
Total Past Due | 101,995 | 34,340 |
Current | 3,657,152 | 1,384,752 |
(Discount)/ Premium | (192,066) | (79,747) |
Total Loans and Leases | 3,567,081 | 1,339,345 |
Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 5,663 | 2,111 |
Total Past Due | 15,302 | 6,842 |
Current | 698,265 | 353,494 |
(Discount)/ Premium | (38,147) | (29,441) |
Total Loans and Leases | 675,420 | 330,895 |
Acquired Loans | Total commercial loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 9,638 | 3,060 |
Total Past Due | 117,297 | 41,182 |
Current | 4,355,417 | 1,738,246 |
(Discount)/ Premium | (230,213) | (109,188) |
Total Loans and Leases | 4,242,501 | 1,670,240 |
Acquired Loans | Commercial leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Acquired Loans | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Acquired Loans | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans and Leases | 4,242,501 | 1,670,240 |
Acquired Loans | Direct installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 0 | 0 |
Total Past Due | 7,280 | 3,661 |
Current | 141,386 | 73,479 |
(Discount)/ Premium | 1,156 | 2,002 |
Total Loans and Leases | 149,822 | 79,142 |
Acquired Loans | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 0 | 0 |
Total Past Due | 32,330 | 19,244 |
Current | 675,499 | 416,561 |
(Discount)/ Premium | (41,364) | (38,007) |
Total Loans and Leases | 666,465 | 397,798 |
Acquired Loans | Indirect installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 0 | 0 |
Total Past Due | 1 | 23 |
Current | 10 | 96 |
(Discount)/ Premium | 154 | 84 |
Total Loans and Leases | 165 | 203 |
Acquired Loans | Consumer lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 1,353 | 336 |
Total Past Due | 10,959 | 4,020 |
Current | 596,298 | 201,958 |
(Discount)/ Premium | (12,934) | (4,405) |
Total Loans and Leases | 594,323 | 201,573 |
Acquired Loans | Total consumer loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- Accrual | 1,353 | 336 |
Total Past Due | 50,570 | 26,948 |
Current | 1,413,193 | 692,094 |
(Discount)/ Premium | (52,988) | (40,326) |
Total Loans and Leases | 1,410,775 | 678,716 |
30-89 Days Past Due | Originated Loans and Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 62,146 | 59,850 |
30-89 Days Past Due | Originated Loans and Leases | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,273 | 8,452 |
30-89 Days Past Due | Originated Loans and Leases | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,948 | 16,019 |
30-89 Days Past Due | Originated Loans and Leases | Commercial leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,382 | 973 |
30-89 Days Past Due | Originated Loans and Leases | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 83 | 398 |
30-89 Days Past Due | Originated Loans and Leases | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 18,686 | 25,842 |
30-89 Days Past Due | Originated Loans and Leases | Direct installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 13,192 | 10,573 |
30-89 Days Past Due | Originated Loans and Leases | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14,096 | 10,594 |
30-89 Days Past Due | Originated Loans and Leases | Indirect installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10,313 | 9,312 |
30-89 Days Past Due | Originated Loans and Leases | Consumer lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,859 | 3,529 |
30-89 Days Past Due | Originated Loans and Leases | Total consumer loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 43,460 | 34,008 |
30-89 Days Past Due | Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 66,926 | 24,210 |
30-89 Days Past Due | Acquired Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 34,928 | 9,501 |
30-89 Days Past Due | Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,187 | 1,789 |
30-89 Days Past Due | Acquired Loans | Total commercial loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 38,115 | 11,290 |
30-89 Days Past Due | Acquired Loans | Direct installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,267 | 2,317 |
30-89 Days Past Due | Acquired Loans | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 17,191 | 8,428 |
30-89 Days Past Due | Acquired Loans | Indirect installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 19 |
30-89 Days Past Due | Acquired Loans | Consumer lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,353 | 2,156 |
30-89 Days Past Due | Acquired Loans | Total consumer loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 28,811 | 12,920 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9,121 | 9,113 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1 | 1 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3 | 3 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Commercial leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 41 | 1 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 153 | 83 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 198 | 88 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Direct installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,466 | 4,386 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,832 | 3,014 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Indirect installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 611 | 513 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Consumer lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,014 | 1,112 |
≥ 90 Days Past Due and Still Accruing | Originated Loans and Leases | Total consumer loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,923 | 9,025 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 89,950 | 40,524 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 63,092 | 23,890 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,452 | 2,942 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | Total commercial loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 69,544 | 26,832 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | Direct installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,013 | 1,344 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15,139 | 10,816 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | Indirect installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1 | 4 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | Consumer lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,253 | 1,528 |
≥ 90 Days Past Due and Still Accruing | Acquired Loans | Total consumer loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 20,406 | $ 13,692 |
Loans and Leases - Summary of87
Loans and Leases - Summary of Commercial Loans and Leases by Credit Quality (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 20,998,766 | $ 14,896,943 |
Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 8,741,864 | 5,435,162 |
Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,170,667 | 3,042,781 |
Commercial leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 266,720 | 196,636 |
Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 17,063 | 35,878 |
Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 13,196,314 | 8,710,457 |
Originated Loans and Leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 15,345,490 | 12,547,987 |
Originated Loans and Leases | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,174,783 | 4,095,817 |
Originated Loans and Leases | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,495,247 | 2,711,886 |
Originated Loans and Leases | Commercial leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 266,720 | 196,636 |
Originated Loans and Leases | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 17,063 | 35,878 |
Originated Loans and Leases | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 8,953,813 | 7,040,217 |
Acquired Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,653,276 | 2,348,956 |
Acquired Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,567,081 | 1,339,345 |
Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 675,420 | 330,895 |
Acquired Loans | Commercial leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 0 |
Acquired Loans | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 0 |
Acquired Loans | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,242,501 | 1,670,240 |
Pass | Originated Loans and Leases | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,922,872 | 3,895,764 |
Pass | Originated Loans and Leases | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,266,966 | 2,475,955 |
Pass | Originated Loans and Leases | Commercial leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 260,235 | 188,662 |
Pass | Originated Loans and Leases | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 15,866 | 34,531 |
Pass | Originated Loans and Leases | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 8,465,939 | 6,594,912 |
Pass | Acquired Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,102,788 | 1,144,676 |
Pass | Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 603,611 | 274,819 |
Pass | Acquired Loans | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,706,399 | 1,419,495 |
Special Mention | Originated Loans and Leases | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 152,744 | 130,452 |
Special Mention | Originated Loans and Leases | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 132,975 | 104,652 |
Special Mention | Originated Loans and Leases | Commercial leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,425 | 3,789 |
Special Mention | Originated Loans and Leases | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 43 | 264 |
Special Mention | Originated Loans and Leases | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 290,187 | 239,157 |
Special Mention | Acquired Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 250,987 | 85,894 |
Special Mention | Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 26,059 | 20,593 |
Special Mention | Acquired Loans | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 277,046 | 106,487 |
Substandard | Originated Loans and Leases | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 98,728 | 69,588 |
Substandard | Originated Loans and Leases | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 92,091 | 128,089 |
Substandard | Originated Loans and Leases | Commercial leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,060 | 4,185 |
Substandard | Originated Loans and Leases | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,154 | 1,083 |
Substandard | Originated Loans and Leases | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 194,033 | 202,945 |
Substandard | Acquired Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 213,089 | 108,128 |
Substandard | Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 45,661 | 34,967 |
Substandard | Acquired Loans | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 258,750 | 143,095 |
Doubtful | Originated Loans and Leases | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 439 | 13 |
Doubtful | Originated Loans and Leases | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,215 | 3,190 |
Doubtful | Originated Loans and Leases | Commercial leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 0 |
Doubtful | Originated Loans and Leases | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 0 |
Doubtful | Originated Loans and Leases | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,654 | 3,203 |
Doubtful | Acquired Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 217 | 647 |
Doubtful | Acquired Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 89 | 516 |
Doubtful | Acquired Loans | Total commercial loans and leases | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 306 | $ 1,163 |
Loans and Leases - Summary of88
Loans and Leases - Summary of Consumer Loans by Payment Status (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Credit Quality [Line Items] | ||
Total Loans and Leases | $ 20,998,766 | $ 14,896,943 |
Direct installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,905,535 | 1,844,399 |
Residential mortgages | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 2,702,691 | 1,844,574 |
Indirect installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,448,433 | 1,196,313 |
Originated Loans and Leases | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 15,345,490 | 12,547,987 |
Originated Loans and Leases | Direct installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,755,713 | 1,765,257 |
Originated Loans and Leases | Residential mortgages | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 2,036,226 | 1,446,776 |
Originated Loans and Leases | Indirect installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,448,268 | 1,196,110 |
Acquired Loans | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 5,653,276 | 2,348,956 |
Acquired Loans | Direct installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 149,822 | 79,142 |
Acquired Loans | Residential mortgages | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 666,465 | 397,798 |
Acquired Loans | Indirect installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 165 | 203 |
Total consumer loans | Originated Loans and Leases | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 6,391,677 | 5,507,770 |
Total consumer loans | Originated Loans and Leases | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 6,352,285 | 5,474,286 |
Total consumer loans | Originated Loans and Leases | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 39,392 | 33,484 |
Total consumer loans | Originated Loans and Leases | Direct installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,755,713 | 1,765,257 |
Total consumer loans | Originated Loans and Leases | Direct installment | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,739,060 | 1,750,305 |
Total consumer loans | Originated Loans and Leases | Direct installment | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 16,653 | 14,952 |
Total consumer loans | Originated Loans and Leases | Residential mortgages | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 2,036,226 | 1,446,776 |
Total consumer loans | Originated Loans and Leases | Residential mortgages | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 2,019,816 | 1,433,409 |
Total consumer loans | Originated Loans and Leases | Residential mortgages | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 16,410 | 13,367 |
Total consumer loans | Originated Loans and Leases | Indirect installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,448,268 | 1,196,110 |
Total consumer loans | Originated Loans and Leases | Indirect installment | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,445,833 | 1,193,930 |
Total consumer loans | Originated Loans and Leases | Indirect installment | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 2,435 | 2,180 |
Total consumer loans | Originated Loans and Leases | Consumer lines of credit | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,151,470 | 1,099,627 |
Total consumer loans | Originated Loans and Leases | Consumer lines of credit | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,147,576 | 1,096,642 |
Total consumer loans | Originated Loans and Leases | Consumer lines of credit | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 3,894 | 2,985 |
Total consumer loans | Acquired Loans | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,410,775 | 678,716 |
Total consumer loans | Acquired Loans | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 1,408,765 | 678,204 |
Total consumer loans | Acquired Loans | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 2,010 | 512 |
Total consumer loans | Acquired Loans | Direct installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 149,822 | 79,142 |
Total consumer loans | Acquired Loans | Direct installment | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 149,751 | 79,142 |
Total consumer loans | Acquired Loans | Direct installment | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 71 | 0 |
Total consumer loans | Acquired Loans | Residential mortgages | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 666,465 | 397,798 |
Total consumer loans | Acquired Loans | Residential mortgages | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 666,465 | 397,798 |
Total consumer loans | Acquired Loans | Residential mortgages | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Total consumer loans | Acquired Loans | Indirect installment | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 165 | 203 |
Total consumer loans | Acquired Loans | Indirect installment | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 165 | 203 |
Total consumer loans | Acquired Loans | Indirect installment | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Total consumer loans | Acquired Loans | Consumer lines of credit | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 594,323 | 201,573 |
Total consumer loans | Acquired Loans | Consumer lines of credit | Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | 592,384 | 201,061 |
Total consumer loans | Acquired Loans | Consumer lines of credit | Non-Performing | ||
Credit Quality [Line Items] | ||
Total Loans and Leases | $ 1,939 | $ 512 |
Loans and Leases - Summary of I
Loans and Leases - Summary of Impaired Loans and Lease, by Class (Detail) - Originated Loans and Leases - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | $ 106,476 | $ 93,479 |
Recorded Investment With No Specific Reserve | 74,309 | 72,393 |
Recorded Investment With Specific Reserve | 7,363 | 9,460 |
Total Recorded Investment | 81,672 | 81,853 |
Specific Reserve | 3,654 | 3,203 |
Average Recorded Investment | 88,636 | 86,388 |
Commercial real estate | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 27,718 | 23,771 |
Recorded Investment With No Specific Reserve | 21,748 | 19,699 |
Recorded Investment With Specific Reserve | 2,906 | 464 |
Total Recorded Investment | 24,654 | 20,163 |
Specific Reserve | 439 | 13 |
Average Recorded Investment | 24,413 | 19,217 |
Commercial and industrial | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 29,307 | 25,719 |
Recorded Investment With No Specific Reserve | 11,595 | 14,781 |
Recorded Investment With Specific Reserve | 4,457 | 8,996 |
Total Recorded Investment | 16,052 | 23,777 |
Specific Reserve | 3,215 | 3,190 |
Average Recorded Investment | 23,907 | 29,730 |
Commercial leases | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 1,574 | 3,429 |
Recorded Investment With No Specific Reserve | 1,574 | 3,429 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 1,574 | 3,429 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 1,386 | 3,394 |
Other | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 0 | 1,000 |
Recorded Investment With No Specific Reserve | 0 | 1,000 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 0 | 1,000 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 0 | 1,000 |
Total commercial loans and leases | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 58,599 | 53,919 |
Recorded Investment With No Specific Reserve | 34,917 | 38,909 |
Recorded Investment With Specific Reserve | 7,363 | 9,460 |
Total Recorded Investment | 42,280 | 48,369 |
Specific Reserve | 3,654 | 3,203 |
Average Recorded Investment | 49,706 | 53,341 |
Direct installment | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 19,375 | 16,440 |
Recorded Investment With No Specific Reserve | 16,653 | 14,952 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 16,653 | 14,952 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 16,852 | 14,997 |
Residential mortgages | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 17,754 | 14,090 |
Recorded Investment With No Specific Reserve | 16,410 | 13,367 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 16,410 | 13,367 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 15,984 | 13,200 |
Indirect installment | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 5,709 | 5,172 |
Recorded Investment With No Specific Reserve | 2,435 | 2,180 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 2,435 | 2,180 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 2,279 | 2,037 |
Consumer lines of credit | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 5,039 | 3,858 |
Recorded Investment With No Specific Reserve | 3,894 | 2,985 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 3,894 | 2,985 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 3,815 | 2,813 |
Total consumer loans | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 47,877 | 39,560 |
Recorded Investment With No Specific Reserve | 39,392 | 33,484 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 39,392 | 33,484 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | $ 38,930 | $ 33,047 |
Loans and Leases - Additional A
Loans and Leases - Additional Allowance for Credit Losses Relating to Acquired Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | $ 175,380 | $ 158,059 | $ 142,012 | $ 125,926 |
Acquired Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | 6,698 | 7,268 | $ 6,727 | $ 7,974 |
Acquired Loans | Commercial real estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | 4,976 | 4,538 | ||
Acquired Loans | Commercial and industrial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | (415) | 500 | ||
Acquired Loans | Total commercial loans and leases | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | 4,561 | 5,038 | ||
Acquired Loans | Direct installment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | 1,553 | 1,005 | ||
Acquired Loans | Residential mortgages | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | 484 | 632 | ||
Acquired Loans | Indirect installment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | 177 | 221 | ||
Acquired Loans | Consumer lines of credit | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | (77) | 372 | ||
Acquired Loans | Total consumer loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and leases receivable, allowance | $ 2,137 | $ 2,230 |
Loans and Leases - Summary of P
Loans and Leases - Summary of Payment Status of Originated TDRs (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 53,991 | $ 46,933 |
Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 19,804 | 17,470 |
Non-Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 23,481 | 20,428 |
Non-accrual | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 10,706 | 9,035 |
Originated Loans and Leases | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 50,183 | 46,392 |
Originated Loans and Leases | Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 19,538 | 17,105 |
Originated Loans and Leases | Non-Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 20,173 | 20,252 |
Originated Loans and Leases | Non-accrual | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 10,472 | 9,035 |
Acquired Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 3,808 | 541 |
Acquired Loans | Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 266 | 365 |
Acquired Loans | Non-Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 3,308 | 176 |
Acquired Loans | Non-accrual | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 234 | $ 0 |
Loans and Leases - Reserve for
Loans and Leases - Reserve for Commercial TDRs Included in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses | $ 175,380 | $ 158,059 | $ 142,012 | $ 125,926 |
Specific reserves for commercial TDRs | Total commercial loans and leases | ||||
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses | 95 | 291 | ||
Pooled reserves for individual commercial loans under $500 | Total commercial loans and leases | ||||
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses | $ 469 | $ 276 |
Loans and Leases - Summary of T
Loans and Leases - Summary of Troubled Debt Restructurings by Class of Loans (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($)Contract | Dec. 31, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 772 | 679 |
Pre-Modification Outstanding Recorded Investment | $ 13,954 | $ 12,220 |
Post- Modification Outstanding Recorded Investment | $ 12,570 | $ 11,222 |
Commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 3 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 1,608 | $ 778 |
Post- Modification Outstanding Recorded Investment | $ 1,683 | $ 737 |
Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 3 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 3,568 | $ 1,727 |
Post- Modification Outstanding Recorded Investment | $ 3,091 | $ 1,504 |
Total commercial loans and leases | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 6 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 5,176 | $ 2,505 |
Post- Modification Outstanding Recorded Investment | $ 4,774 | $ 2,241 |
Direct installment | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 641 | 527 |
Pre-Modification Outstanding Recorded Investment | $ 5,107 | $ 6,090 |
Post- Modification Outstanding Recorded Investment | $ 4,500 | $ 5,566 |
Residential mortgages | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 43 | 45 |
Pre-Modification Outstanding Recorded Investment | $ 2,251 | $ 2,155 |
Post- Modification Outstanding Recorded Investment | $ 2,095 | $ 2,081 |
Indirect installment | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 18 | 19 |
Pre-Modification Outstanding Recorded Investment | $ 48 | $ 51 |
Post- Modification Outstanding Recorded Investment | $ 43 | $ 51 |
Consumer lines of credit | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 64 | 81 |
Pre-Modification Outstanding Recorded Investment | $ 1,372 | $ 1,419 |
Post- Modification Outstanding Recorded Investment | $ 1,158 | $ 1,283 |
Total consumer loans | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 766 | 672 |
Pre-Modification Outstanding Recorded Investment | $ 8,778 | $ 9,715 |
Post- Modification Outstanding Recorded Investment | $ 7,796 | $ 8,981 |
Loans and Leases - Summary of94
Loans and Leases - Summary of Originated Troubled Debt Restructurings by Class of Loans and Leases, Payment Default (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($)Contract | Dec. 31, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 160 | 118 |
Recorded Investment | $ | $ 1,333 | $ 1,027 |
Commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | 0 |
Recorded Investment | $ | $ 463 | $ 0 |
Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 |
Total commercial loans and leases | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | 0 |
Recorded Investment | $ | $ 463 | $ 0 |
Direct installment | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 131 | 90 |
Recorded Investment | $ | $ 358 | $ 313 |
Residential mortgages | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 6 | 7 |
Recorded Investment | $ | $ 314 | $ 285 |
Indirect installment | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 17 | 18 |
Recorded Investment | $ | $ 28 | $ 35 |
Consumer lines of credit | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 5 | 3 |
Recorded Investment | $ | $ 170 | $ 394 |
Total consumer loans | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 159 | 118 |
Recorded Investment | $ | $ 870 | $ 1,027 |
Allowance for Credit Losses - S
Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses by Loan and Lease Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | $ 158,059 | $ 142,012 | $ 158,059 | $ 142,012 | $ 125,926 | ||||||
Charge- Offs | (59,585) | (51,514) | (31,068) | ||||||||
Recoveries | 15,833 | 11,809 | 6,713 | ||||||||
Net Charge- Offs | (43,752) | (39,705) | (24,355) | ||||||||
Provision for credit losses | $ 16,699 | $ 16,768 | $ 16,756 | 10,850 | $ 12,705 | $ 14,639 | $ 16,640 | 11,768 | 61,073 | 55,752 | 40,441 |
Balance at End of Year | 175,380 | 158,059 | 175,380 | 158,059 | 142,012 | ||||||
Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 150,791 | 135,285 | 150,791 | 135,285 | 117,952 | ||||||
Charge- Offs | (57,883) | (50,466) | (30,174) | ||||||||
Recoveries | 11,215 | 10,550 | 6,023 | ||||||||
Net Charge- Offs | (46,668) | (39,916) | (24,151) | ||||||||
Provision for credit losses | 64,559 | 55,422 | 41,484 | ||||||||
Balance at End of Year | 168,682 | 150,791 | 168,682 | 150,791 | 135,285 | ||||||
Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 7,268 | 6,727 | 7,268 | 6,727 | 7,974 | ||||||
Charge- Offs | (1,702) | (1,048) | (894) | ||||||||
Recoveries | 4,618 | 1,259 | 690 | ||||||||
Net Charge- Offs | 2,916 | 211 | (204) | ||||||||
Provision for credit losses | (3,486) | 330 | (1,043) | ||||||||
Balance at End of Year | 6,698 | 7,268 | 6,698 | 7,268 | 6,727 | ||||||
Commercial real estate | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 46,635 | 41,741 | 46,635 | 41,741 | 37,588 | ||||||
Charge- Offs | (2,178) | (6,657) | (4,443) | ||||||||
Recoveries | 2,311 | 3,669 | 1,117 | ||||||||
Net Charge- Offs | 133 | (2,988) | (3,326) | ||||||||
Provision for credit losses | 3,513 | 7,882 | 7,479 | ||||||||
Balance at End of Year | 50,281 | 46,635 | 50,281 | 46,635 | 41,741 | ||||||
Commercial real estate | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 4,538 | 4,538 | |||||||||
Balance at End of Year | 4,976 | 4,538 | 4,976 | 4,538 | |||||||
Commercial and industrial | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 47,991 | 41,023 | 47,991 | 41,023 | 32,645 | ||||||
Charge- Offs | (26,188) | (19,584) | (3,562) | ||||||||
Recoveries | 1,275 | 2,508 | 1,773 | ||||||||
Net Charge- Offs | (24,913) | (17,076) | (1,789) | ||||||||
Provision for credit losses | 28,885 | 24,044 | 10,167 | ||||||||
Balance at End of Year | 51,963 | 47,991 | 51,963 | 47,991 | 41,023 | ||||||
Commercial and industrial | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 500 | 500 | |||||||||
Balance at End of Year | (415) | 500 | (415) | 500 | |||||||
Commercial leases | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 3,280 | 2,541 | 3,280 | 2,541 | 2,398 | ||||||
Charge- Offs | (1,017) | (962) | (544) | ||||||||
Recoveries | 6 | 66 | 101 | ||||||||
Net Charge- Offs | (1,011) | (896) | (443) | ||||||||
Provision for credit losses | 3,377 | 1,635 | 586 | ||||||||
Balance at End of Year | 5,646 | 3,280 | 5,646 | 3,280 | 2,541 | ||||||
Other | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 1,392 | 1,013 | 1,392 | 1,013 | 759 | ||||||
Charge- Offs | (4,099) | (2,729) | (1,691) | ||||||||
Recoveries | 1,255 | 131 | 55 | ||||||||
Net Charge- Offs | (2,844) | (2,598) | (1,636) | ||||||||
Provision for credit losses | 3,295 | 2,977 | 1,890 | ||||||||
Balance at End of Year | 1,843 | 1,392 | 1,843 | 1,392 | 1,013 | ||||||
Total commercial loans and leases | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 99,298 | 86,318 | 99,298 | 86,318 | 73,390 | ||||||
Charge- Offs | (33,482) | (29,932) | (10,240) | ||||||||
Recoveries | 4,847 | 6,374 | 3,046 | ||||||||
Net Charge- Offs | (28,635) | (23,558) | (7,194) | ||||||||
Provision for credit losses | 39,070 | 36,538 | 20,122 | ||||||||
Balance at End of Year | 109,733 | 99,298 | 109,733 | 99,298 | 86,318 | ||||||
Total commercial loans and leases | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 5,038 | 5,038 | |||||||||
Balance at End of Year | 4,561 | 5,038 | 4,561 | 5,038 | |||||||
Direct installment | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 21,391 | 21,587 | 21,391 | 21,587 | 20,538 | ||||||
Charge- Offs | (12,401) | (10,153) | (10,844) | ||||||||
Recoveries | 2,015 | 1,822 | 1,527 | ||||||||
Net Charge- Offs | (10,386) | (8,331) | (9,317) | ||||||||
Provision for credit losses | 9,931 | 8,135 | 10,366 | ||||||||
Balance at End of Year | 20,936 | 21,391 | 20,936 | 21,391 | 21,587 | ||||||
Direct installment | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 1,005 | 1,005 | |||||||||
Balance at End of Year | 1,553 | 1,005 | 1,553 | 1,005 | |||||||
Residential mortgages | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 10,082 | 7,909 | 10,082 | 7,909 | 8,024 | ||||||
Charge- Offs | (595) | (441) | (1,010) | ||||||||
Recoveries | 184 | 74 | 85 | ||||||||
Net Charge- Offs | (411) | (367) | (925) | ||||||||
Provision for credit losses | 5,836 | 2,540 | 810 | ||||||||
Balance at End of Year | 15,507 | 10,082 | 15,507 | 10,082 | 7,909 | ||||||
Residential mortgages | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 632 | 632 | |||||||||
Balance at End of Year | 484 | 632 | 484 | 632 | |||||||
Indirect installment | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 10,564 | 9,889 | 10,564 | 9,889 | 7,504 | ||||||
Charge- Offs | (9,201) | (7,855) | (6,427) | ||||||||
Recoveries | 3,708 | 2,015 | 1,190 | ||||||||
Net Charge- Offs | (5,493) | (5,840) | (5,237) | ||||||||
Provision for credit losses | 6,896 | 6,515 | 7,622 | ||||||||
Balance at End of Year | 11,967 | 10,564 | 11,967 | 10,564 | 9,889 | ||||||
Indirect installment | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 221 | 221 | |||||||||
Balance at End of Year | 177 | 221 | 177 | 221 | |||||||
Consumer lines of credit | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 9,456 | 9,582 | 9,456 | 9,582 | 8,496 | ||||||
Charge- Offs | (2,204) | (2,085) | (1,653) | ||||||||
Recoveries | 461 | 265 | 175 | ||||||||
Net Charge- Offs | (1,743) | (1,820) | (1,478) | ||||||||
Provision for credit losses | 2,826 | 1,694 | 2,564 | ||||||||
Balance at End of Year | 10,539 | 9,456 | 10,539 | 9,456 | 9,582 | ||||||
Consumer lines of credit | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 372 | 372 | |||||||||
Balance at End of Year | (77) | 372 | (77) | 372 | |||||||
Total consumer loans | Originated Loans and Leases | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 51,493 | 48,967 | 51,493 | 48,967 | 44,562 | ||||||
Charge- Offs | (24,401) | (20,534) | (19,934) | ||||||||
Recoveries | 6,368 | 4,176 | 2,977 | ||||||||
Net Charge- Offs | (18,033) | (16,358) | (16,957) | ||||||||
Provision for credit losses | 25,489 | 18,884 | 21,362 | ||||||||
Balance at End of Year | 58,949 | 51,493 | 58,949 | 51,493 | 48,967 | ||||||
Total consumer loans | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 2,230 | 2,230 | |||||||||
Balance at End of Year | 2,137 | 2,230 | 2,137 | 2,230 | |||||||
Purchased credit-impaired loans | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | 572 | 834 | 572 | 834 | 660 | ||||||
Charge- Offs | (469) | (399) | (64) | ||||||||
Recoveries | 36 | 42 | 19 | ||||||||
Net Charge- Offs | (433) | (357) | (45) | ||||||||
Provision for credit losses | 496 | 95 | 219 | ||||||||
Balance at End of Year | 635 | 572 | 635 | 572 | 834 | ||||||
Other acquired loans | Acquired Loans | |||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||||||
Balance at Beginning of Year | $ 6,696 | $ 5,893 | 6,696 | 5,893 | 7,314 | ||||||
Charge- Offs | (1,233) | (649) | (830) | ||||||||
Recoveries | 4,582 | 1,217 | 671 | ||||||||
Net Charge- Offs | 3,349 | 568 | (159) | ||||||||
Provision for credit losses | (3,982) | 235 | (1,262) | ||||||||
Balance at End of Year | $ 6,063 | $ 6,696 | $ 6,063 | $ 6,696 | $ 5,893 |
Allowance for Credit Losses -96
Allowance for Credit Losses - Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Valuation Allowance [Line Items] | ||
Originated loans and leases | $ 20,998,766 | $ 14,896,943 |
Commercial real estate | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 8,741,864 | 5,435,162 |
Commercial and industrial | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 4,170,667 | 3,042,781 |
Commercial leases | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 266,720 | 196,636 |
Other | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 17,063 | 35,878 |
Total commercial loans and leases | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 13,196,314 | 8,710,457 |
Direct installment | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 1,905,535 | 1,844,399 |
Residential mortgages | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 2,702,691 | 1,844,574 |
Indirect installment | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 1,448,433 | 1,196,313 |
Consumer lines of credit | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 1,745,793 | 1,301,200 |
Total consumer loans | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases | 7,802,452 | 6,186,486 |
Originated Loans and Leases | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 3,654 | 3,203 |
Allowance, collectively evaluated for impairment | 165,028 | 147,588 |
Originated loans and leases | 15,345,490 | 12,547,987 |
Loans and leases outstanding, individually evaluated for impairment | 20,986 | 34,719 |
Loans and leases outstanding, collectively evaluated for impairment | 15,324,504 | 12,513,268 |
Originated Loans and Leases | Commercial real estate | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 439 | 13 |
Allowance, collectively evaluated for impairment | 49,842 | 46,622 |
Originated loans and leases | 5,174,783 | 4,095,817 |
Loans and leases outstanding, individually evaluated for impairment | 11,114 | 12,973 |
Loans and leases outstanding, collectively evaluated for impairment | 5,163,669 | 4,082,844 |
Originated Loans and Leases | Commercial and industrial | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 3,215 | 3,190 |
Allowance, collectively evaluated for impairment | 48,748 | 44,801 |
Originated loans and leases | 3,495,247 | 2,711,886 |
Loans and leases outstanding, individually evaluated for impairment | 9,872 | 21,746 |
Loans and leases outstanding, collectively evaluated for impairment | 3,485,375 | 2,690,140 |
Originated Loans and Leases | Commercial leases | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 0 | 0 |
Allowance, collectively evaluated for impairment | 5,646 | 3,280 |
Originated loans and leases | 266,720 | 196,636 |
Loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Loans and leases outstanding, collectively evaluated for impairment | 266,720 | 196,636 |
Originated Loans and Leases | Other | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 0 | 0 |
Allowance, collectively evaluated for impairment | 1,843 | 1,392 |
Originated loans and leases | 17,063 | 35,878 |
Loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Loans and leases outstanding, collectively evaluated for impairment | 17,063 | 35,878 |
Originated Loans and Leases | Total commercial loans and leases | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 3,654 | 3,203 |
Allowance, collectively evaluated for impairment | 106,079 | 96,095 |
Originated loans and leases | 8,953,813 | 7,040,217 |
Loans and leases outstanding, individually evaluated for impairment | 20,986 | 34,719 |
Loans and leases outstanding, collectively evaluated for impairment | 8,932,827 | 7,005,498 |
Originated Loans and Leases | Direct installment | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 0 | 0 |
Allowance, collectively evaluated for impairment | 20,936 | 21,391 |
Originated loans and leases | 1,755,713 | 1,765,257 |
Loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Loans and leases outstanding, collectively evaluated for impairment | 1,755,713 | 1,765,257 |
Originated Loans and Leases | Residential mortgages | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 0 | 0 |
Allowance, collectively evaluated for impairment | 15,507 | 10,082 |
Originated loans and leases | 2,036,226 | 1,446,776 |
Loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Loans and leases outstanding, collectively evaluated for impairment | 2,036,226 | 1,446,776 |
Originated Loans and Leases | Indirect installment | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 0 | 0 |
Allowance, collectively evaluated for impairment | 11,967 | 10,564 |
Originated loans and leases | 1,448,268 | 1,196,110 |
Loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Loans and leases outstanding, collectively evaluated for impairment | 1,448,268 | 1,196,110 |
Originated Loans and Leases | Consumer lines of credit | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 0 | 0 |
Allowance, collectively evaluated for impairment | 10,539 | 9,456 |
Originated loans and leases | 1,151,470 | 1,099,627 |
Loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Loans and leases outstanding, collectively evaluated for impairment | 1,151,470 | 1,099,627 |
Originated Loans and Leases | Total consumer loans | ||
Valuation Allowance [Line Items] | ||
Allowance, individually evaluated for impairment | 0 | 0 |
Allowance, collectively evaluated for impairment | 58,949 | 51,493 |
Originated loans and leases | 6,391,677 | 5,507,770 |
Loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Loans and leases outstanding, collectively evaluated for impairment | $ 6,391,677 | $ 5,507,770 |
Loan Servicing - Mortgage Servi
Loan Servicing - Mortgage Servicing Rights Activity (Detail) (Details) - Mortgage Loan - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Servicing Assets at Fair Value [Line Items] | |||
SBA loans sold to investors with servicing retained | $ 3,256,548 | $ 1,800,002 | |
Mortgage loans sold with servicing retained | 1,769,129 | 672,536 | $ 431,617 |
Pretax gains resulting from above loan sales | 21,683 | 12,519 | 10,681 |
Mortgage servicing fees | 7,509 | 3,803 | 3,056 |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||
Balance at beginning of period | 13,521 | 8,921 | 6,859 |
Fair value of MSRs acquired | 8,553 | 0 | 0 |
Additions | 10,830 | 7,148 | 3,370 |
Payoffs and curtailments | (1,491) | (780) | (694) |
Amortization | (2,360) | (1,768) | (614) |
Balance at end of period | 29,053 | 13,521 | 8,921 |
Fair value, beginning of period | 17,546 | 11,503 | 8,684 |
Fair value, end of period | $ 32,419 | $ 17,546 | $ 11,503 |
Loan Servicing - Sensitivity of
Loan Servicing - Sensitivity of Fair Value to Changes in key Assumptions (Detail) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Mortgage Loan | ||
Servicing Assets at Fair Value [Line Items] | ||
Weighted average life (months) | 80 months 12 days | 79 months |
Constant prepayment rate (annualized) | 9.90% | 9.90% |
Discount rate | 9.90% | 9.80% |
Sensitivity analysis of fair value of interests continued to be held by transferor servicing assets or liabilities impact of zero point two five percent favorable change in prepayment speed | $ 1,737 | $ 692 |
Sensitivity analysis of fair value of interests continued to be held by transferor servicing assets or liabilities impact of zero point five zero percent favorable change in prepayment speed | 3,220 | 1,288 |
Sensitivity analysis of fair value of interests continued to be held by transferor servicing assets or liabilities impact of zero point two five percent adverse change in prepayment speed | (1,937) | (789) |
Sensitivity analysis of fair value of interests continued to be held by transferor servicing assets or liabilities impact of zero point five zero percent adverse change in prepayment speed | $ (4,007) | $ (1,680) |
Small Business Administration Loans | ||
Servicing Assets at Fair Value [Line Items] | ||
Weighted average life (months) | 63 months 16 days | |
Constant prepayment rate (annualized) | 9.29% | |
Discount rate | 14.87% | |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 10 percent adverse change in prepayment speed | $ (145) | |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 20 percent adverse change in prepayment speed | (284) | |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 1 percent adverse change in prepayment speed | 0 | |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 2 percent adverse change in prepayment speed | 0 | |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 10 percent adverse change in discount rate | 0 | |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 20 percent adverse change in discount rate | 0 | |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 1 percent adverse change in discount rate | (147) | |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 2 percent adverse change in discount rate | $ (286) |
Loan Servicing - Activity in SB
Loan Servicing - Activity in SBA-Guaranteed Loan Servicing Asset (Detail) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Servicing Assets at Fair Value [Line Items] | |||
Service charges | $ 124,310 | $ 97,524 | $ 69,877 |
Mortgage Loan | |||
Servicing Assets at Fair Value [Line Items] | |||
SBA loans sold to investors with servicing retained | 3,256,548 | 1,800,002 | |
Mortgage loans sold with servicing retained | 1,769,129 | 672,536 | 431,617 |
Pretax gains resulting from above loan sales | 21,683 | 12,519 | 10,681 |
Servicing Asset at Fair Value, Amount [Roll Forward] | |||
Balance at beginning of period | 13,521 | 8,921 | 6,859 |
Additions | 10,830 | 7,148 | 3,370 |
Amortization | 2,360 | 1,768 | 614 |
Balance at end of period | 29,053 | 13,521 | 8,921 |
Fair value, beginning of period | 17,546 | 11,503 | 8,684 |
Fair value, end of period | 32,419 | 17,546 | $ 11,503 |
Small Business Administration Loans | |||
Servicing Assets at Fair Value [Line Items] | |||
SBA loans sold to investors with servicing retained | 305,977 | ||
Mortgage loans sold with servicing retained | 53,938 | ||
Pretax gains resulting from above loan sales | 2,247 | ||
Service charges | 2,195 | ||
Servicing Asset at Fair Value, Amount [Roll Forward] | |||
Balance at beginning of period | 0 | ||
Fair value of servicing rights acquired | 5,399 | ||
Additions | 959 | ||
Impairment (charge) / recovery | (281) | ||
Amortization | 1,019 | ||
Balance at end of period | 5,058 | 0 | |
Fair value, beginning of period | 0 | ||
Fair value, end of period | 5,058 | $ 0 | |
Valuation allowance for impairment of recognized servicing assets, balance | $ 300 |
Premises and Equipment - Summar
Premises and Equipment - Summary of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Abstract] | ||
Land | $ 67,424 | $ 45,640 |
Premises | 239,807 | 186,784 |
Equipment | 212,587 | 174,325 |
Property Plant and Equipment Gross | 519,818 | 406,749 |
Accumulated depreciation | (183,278) | (162,793) |
Total premises and equipment, net | $ 336,540 | $ 243,956 |
Premises and Equipment - Deprec
Premises and Equipment - Depreciation Expense for Premises and Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense for premises and equipment | $ 34,322 | $ 23,355 | $ 20,009 |
Premises and Equipment - Schedu
Premises and Equipment - Schedule of Rent Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |||
Rental expense | $ 29,148 | $ 21,015 | $ 16,193 |
Premises and Equipment - Sum103
Premises and Equipment - Summary of Future Minimum Lease Payments (Detail) $ in Thousands | Dec. 31, 2017USD ($) |
Property, Plant and Equipment [Abstract] | |
2,018 | $ 26,949 |
2,019 | 22,995 |
2,020 | 18,587 |
2,021 | 15,358 |
2,022 | 11,855 |
Later years | 49,342 |
Total minimum rental commitment under leases | $ 145,086 |
Goodwill and Other Intangibl104
Goodwill and Other Intangible Assets - Rollforward of Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $ 1,032,129 | $ 833,086 |
Goodwill (deductions) additions | 1,217,059 | 199,043 |
Goodwill, Ending Balance | 2,249,188 | 1,032,129 |
Community Banking | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,011,599 | 812,399 |
Goodwill (deductions) additions | 1,216,908 | 199,200 |
Goodwill, Ending Balance | 2,228,507 | 1,011,599 |
Wealth Management | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 8,020 | 8,020 |
Goodwill (deductions) additions | 151 | 0 |
Goodwill, Ending Balance | 8,171 | 8,020 |
Insurance | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 10,701 | 10,858 |
Goodwill (deductions) additions | 0 | (157) |
Goodwill, Ending Balance | 10,701 | 10,701 |
Consumer Finance | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,809 | 1,809 |
Goodwill (deductions) additions | 0 | 0 |
Goodwill, Ending Balance | $ 1,809 | $ 1,809 |
Goodwill and Other Intangibl105
Goodwill and Other Intangible Assets - Summary of Core Deposit Intangibles, Customer Renewal Lists and Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 208,024 | $ 152,238 |
Accumulated amortization | (115,949) | (98,432) |
Net carrying amount | 92,075 | 53,806 |
Core Deposit Intangibles | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 195,582 | 139,886 |
Accumulated amortization | (106,938) | (89,888) |
Net carrying amount | 88,644 | 49,998 |
Customer Renewal Lists | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 12,442 | 12,352 |
Accumulated amortization | (9,011) | (8,544) |
Net carrying amount | $ 3,431 | $ 3,808 |
Goodwill and Other Intangibl106
Goodwill and Other Intangible Assets - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 8 years |
Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 13 years |
Core Deposit Intangibles | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 10 years |
Customer Renewal Lists | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 8 years |
Customer Renewal Lists | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 13 years |
Goodwill and Other Intangibl107
Goodwill and Other Intangible Assets - Schedule of Amortization Expense Recognized (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 17,517 | $ 11,210 | $ 8,305 |
Goodwill and Other Intangibl108
Goodwill and Other Intangible Assets - Schedule of Expected Amortization Expense on Finite-Lived Intangible Assets (Detail) $ in Thousands | Dec. 31, 2017USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,018 | $ 15,633 |
2,019 | 13,532 |
2,020 | 12,503 |
2,021 | 11,339 |
2,022 | 9,637 |
Total | $ 62,644 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deposits [Abstract] | ||
Non-interest-bearing demand | $ 5,720,030 | $ 4,205,337 |
Interest-bearing demand | 9,571,038 | 6,931,381 |
Savings | 2,488,178 | 2,352,434 |
Less than $100,000 | 2,461,014 | 1,680,068 |
$100,000 through $250,000 | 1,326,562 | 642,509 |
Greater than $250,000 | 832,903 | 253,918 |
Total Deposits | $ 22,399,725 | $ 16,065,647 |
Deposits - Summary of Scheduled
Deposits - Summary of Scheduled Maturities of Certificates and Other Time Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deposits [Abstract] | ||
2,018 | $ 2,778,467 | |
2,019 | 1,026,222 | |
2,020 | 351,431 | |
2,021 | 194,678 | |
2,022 | 118,891 | |
Later years | 150,790 | |
Total | $ 4,620,479 | $ 2,576,495 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Short-Term Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Securities sold under repurchase agreements | $ 256,017 | $ 313,062 |
Federal Home Loan Bank advances | 2,285,000 | 1,025,000 |
Federal funds purchased | 1,000,000 | 1,037,000 |
Subordinated notes | 137,320 | 127,948 |
Total short-term borrowings | $ 3,678,337 | $ 2,503,010 |
Short-Term Borrowings - Schedul
Short-Term Borrowings - Schedule of Weighted Average Interest Rates on Short-Term Borrowings (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |||
Year-to-date average | 1.16% | 0.61% | 0.42% |
Period-end | 1.44% | 0.69% | 0.48% |
Long-Term Borrowings - Summary
Long-Term Borrowings - Summary of Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Federal Home Loan Bank advances | $ 310,061 | $ 305,110 |
Subordinated notes | 87,614 | 87,147 |
Junior subordinated debt | 110,347 | 48,600 |
Other subordinated debt | 160,151 | 98,637 |
Total long-term borrowings | $ 668,173 | $ 539,494 |
Long-Term Borrowings - Schedule
Long-Term Borrowings - Scheduled Annual Maturities for Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
2,018 | $ 69,684 | |
2,019 | 151,558 | |
2,020 | 105,610 | |
2,021 | 52,189 | |
2,022 | 6,072 | |
Later years | 283,060 | |
Total long-term borrowings | $ 668,173 | $ 539,494 |
Long-Term Borrowings - Addition
Long-Term Borrowings - Additional Information (Detail) | May 01, 2017USD ($) | Oct. 31, 2015USD ($) | Dec. 31, 2017USD ($)Trust | Dec. 31, 2016USD ($) | Mar. 11, 2017USD ($) |
Debt Instrument [Line Items] | |||||
Number of unconsolidated subsidiary trusts | Trust | 6 | ||||
Percent of the common equity of each Trust owned by the Corporation | 100.00% | ||||
FHLB | |||||
Debt Instrument [Line Items] | |||||
Credit available with FHLB | $ 7,931,000,000 | ||||
Credit with FHLB used | $ 2,600,000,000 | ||||
Federal Home Loan Bank advances are scheduled to mature periodically through the year | 2,021 | ||||
Omega Financial Capital Trust I | |||||
Debt Instrument [Line Items] | |||||
Redemption of corporation issued TPS | $ 10,000,000 | ||||
4.875% Subordinated Notes Due in 2025 | |||||
Debt Instrument [Line Items] | |||||
Aggregate principal amount | $ 100,000,000 | ||||
Debt instrument interest rate percentage | 4.875% | ||||
Proceeds from issuance of notes | $ 98,400,000 | ||||
Long-term borrowings, carrying value | $ 98,800,000 | ||||
7.25% Subordinated Notes Due in 2024 | |||||
Debt Instrument [Line Items] | |||||
Aggregate principal amount | $ 15,500,000 | ||||
Debt instrument interest rate percentage | 7.25% | ||||
Long-term borrowings, carrying value | 16,800,000 | ||||
7.625% Subordinated Notes Due in 2023 | |||||
Debt Instrument [Line Items] | |||||
Aggregate principal amount | $ 38,050,000 | ||||
Debt instrument interest rate percentage | 7.625% | ||||
Long-term borrowings, carrying value | $ 44,500,000 | ||||
Minimum | FHLB | |||||
Debt Instrument [Line Items] | |||||
Effective interest rates | 1.11% | 0.95% | |||
Minimum | Subordinated Notes | |||||
Debt Instrument [Line Items] | |||||
Months prior to maturity, interest discount | 3 months | ||||
Maximum | FHLB | |||||
Debt Instrument [Line Items] | |||||
Effective interest rates | 4.19% | 4.19% | |||
Maximum | Subordinated Notes | |||||
Debt Instrument [Line Items] | |||||
Months prior to maturity, interest discount | 12 months | ||||
Yadkin Financial Corporation (YDKN) | |||||
Debt Instrument [Line Items] | |||||
Repayments of subordinated debt | $ 7,500,000 |
Long-Term Borrowings - Summa116
Long-Term Borrowings - Summary of Weighted Average Interest Rate on Subordinated Notes (Detail) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | |||
Subordinated notes weighted average interest rate | 2.85% | 2.71% | 2.73% |
Long-Term Borrowings - Junior S
Long-Term Borrowings - Junior Subordinated Debt Trusts (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 110,347 | $ 48,600 |
Trust Preferred Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 115,500 | |
Common Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 3,885 | |
F.N.B. Statutory Trust II | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 22,165 | |
Stated Maturity Date | Jun. 15, 2036 | |
Interest Rate | 3.24% | |
Description of variable rate | LIBOR + 165 basis points (bps) | |
Basis points | 1.65% | |
F.N.B. Statutory Trust II | Trust Preferred Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 21,500 | |
F.N.B. Statutory Trust II | Common Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 665 | |
Omega Financial Capital Trust I | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 26,473 | |
Stated Maturity Date | Oct. 18, 2034 | |
Interest Rate | 3.54% | |
Description of variable rate | LIBOR + 219 bps | |
Basis points | 2.19% | |
Omega Financial Capital Trust I | Trust Preferred Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 26,000 | |
Omega Financial Capital Trust I | Common Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 1,114 | |
Yadkin Valley Statutory Trust I | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 20,863 | |
Stated Maturity Date | Dec. 15, 2037 | |
Interest Rate | 2.91% | |
Description of variable rate | LIBOR + 132 bps | |
Basis points | 1.32% | |
Yadkin Valley Statutory Trust I | Trust Preferred Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 25,000 | |
Yadkin Valley Statutory Trust I | Common Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 774 | |
FNB Financial Services Capital Trust I | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 21,804 | |
Stated Maturity Date | Sep. 30, 2035 | |
Interest Rate | 2.80% | |
Description of variable rate | LIBOR + 146 bps | |
Basis points | 1.46% | |
FNB Financial Services Capital Trust I | Trust Preferred Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 25,000 | |
FNB Financial Services Capital Trust I | Common Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 774 | |
American Community Capital Trust II | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 10,448 | |
Stated Maturity Date | Dec. 15, 2033 | |
Interest Rate | 4.14% | |
Description of variable rate | LIBOR + 280 bps | |
Basis points | 2.80% | |
American Community Capital Trust II | Trust Preferred Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 10,000 | |
American Community Capital Trust II | Common Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 310 | |
Crescent Financial Capital Trust I | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 8,594 | |
Stated Maturity Date | Oct. 7, 2033 | |
Interest Rate | 4.46% | |
Description of variable rate | LIBOR + 310 bps | |
Basis points | 3.10% | |
Crescent Financial Capital Trust I | Trust Preferred Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 8,000 | |
Crescent Financial Capital Trust I | Common Securities | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 248 |
Derivative Instruments and H118
Derivative Instruments and Hedging Activities - Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 5,628,119 | $ 4,005,212 |
Derivative asset, fair value, amount not offset against collateral | 1,448 | 22,037 |
Derivative liability, fair value, amount not offset against collateral | 13,581 | 35,217 |
Derivative asset, not subject to master netting arrangement | 29,099 | 32,183 |
Derivative liability, not subject to master netting arrangement | 15,616 | 12,050 |
Derivative asset | 30,547 | 54,220 |
Derivative liabilities | 29,197 | 47,267 |
Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, fair value, amount not offset against collateral | 228 | 9,256 |
Derivative liability, fair value, amount not offset against collateral | 1,982 | 1,171 |
Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, fair value, amount not offset against collateral | 1,169 | 12,720 |
Derivative liability, fair value, amount not offset against collateral | 11,599 | 34,046 |
Derivative asset, not subject to master netting arrangement | 27,233 | 32,170 |
Derivative liability, not subject to master netting arrangement | 15,303 | 11,866 |
Equity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, fair value, amount not offset against collateral | 51 | 61 |
Derivative liability, fair value, amount not offset against collateral | 0 | 0 |
Derivative asset, not subject to master netting arrangement | 0 | 0 |
Derivative liability, not subject to master netting arrangement | 51 | 61 |
Credit Risk Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 154,200 | |
Derivative asset, not subject to master netting arrangement | 39 | 13 |
Derivative liability, not subject to master netting arrangement | 109 | 123 |
Interest Rate Lock Commitments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 1,594 | 0 |
Derivative liability, not subject to master netting arrangement | 5 | 0 |
Forward Delivery Commitments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 233 | 0 |
Derivative liability, not subject to master netting arrangement | 148 | 0 |
Subject to Master Netting Arrangement | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,951,622 | 2,140,337 |
Subject to Master Netting Arrangement | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 705,000 | 450,000 |
Subject to Master Netting Arrangement | Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,245,442 | 1,689,157 |
Subject to Master Netting Arrangement | Equity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,180 | 1,180 |
Not Subject to Master Netting Arrangement | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,676,497 | 1,864,875 |
Not Subject to Master Netting Arrangement | Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,245,442 | 1,689,157 |
Not Subject to Master Netting Arrangement | Equity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,180 | 1,180 |
Not Subject to Master Netting Arrangement | Credit Risk Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 235,196 | 174,538 |
Not Subject to Master Netting Arrangement | Interest Rate Lock Commitments | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 88,107 | 0 |
Not Subject to Master Netting Arrangement | Forward Delivery Commitments | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 106,572 | $ 0 |
Derivative Instruments and H119
Derivative Instruments and Hedging Activities - Summary of Key Data Related to Interest Rate (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 5,628,119 | $ 4,005,212 |
Fair value included in other assets | 30,547 | 54,220 |
Fair value included in other liabilities | 29,197 | 47,267 |
Designated as Hedging Instrument | Interest Rate Contracts | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 705,000 | 450,000 |
Fair value included in other assets | 228 | 9,256 |
Designated as Hedging Instrument | Trading | Interest Rate Contracts | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value included in other liabilities | 1,982 | 1,171 |
Not Designated as Hedging Instrument | Interest Rate Swap | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 4,490,884 | 3,378,314 |
Fair value included in other assets | 28,402 | 44,890 |
Not Designated as Hedging Instrument | Trading | Interest Rate Swap | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value included in other liabilities | $ 26,902 | $ 45,912 |
Derivative Instrument and Hedgi
Derivative Instrument and Hedging Activities - Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||||||||||
Reclassified from AOCI to interest expense | $ 41,049 | $ 38,283 | $ 32,619 | $ 21,941 | $ 17,885 | $ 17,604 | $ 16,562 | $ 15,400 | $ 133,892 | $ 67,451 | $ 48,573 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Before Tax Amount | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||||||||||
Reclassified from AOCI to interest income | 1,446 | 2,659 | |||||||||
Reclassified from AOCI to interest expense | 1,374 | 703 | |||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net Of Tax Amount | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||||||||||
Reclassified from AOCI to interest income | 940 | 1,728 | |||||||||
Reclassified from AOCI to interest expense | $ 893 | $ 457 |
Derivative Instruments and H121
Derivative Instruments and Hedging Activities - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | ||
Notional amount | $ 5,628,119,000 | $ 4,005,212,000 |
Additional amount in excess of posted collateral required in case of breached agreements | $ 900,000 | 1,100,000 |
Interest Rate Contracts | ||
Derivative [Line Items] | ||
Maximum length of time hedged in interest rate cash flow hedge | 6 years | |
Period to reclassification of cash flow hedge gain loss | 12 months | |
Derivative gains to be reclassified within twelve months | $ 1,400,000 | |
Derivative gains to be reclassified within twelve months, net of tax | 900,000 | |
Hedge ineffectiveness | 0 | 0 |
Gains or losses from cash flow hedge derivatives reclassified to earnings | $ 0 | 0 |
Interest Rate Lock Commitments | Minimum | ||
Derivative [Line Items] | ||
Lock in period for interest rates | 30 days | |
Interest Rate Lock Commitments | Maximum | ||
Derivative [Line Items] | ||
Lock in period for interest rates | 90 days | |
Credit Risk Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 154,200,000 | |
Maximum exposure under credit risk agreement assuming customer default | 108,000 | 123,000 |
Credit risk derivatives, purchased at fair value | 39,000 | 13,000 |
Credit risk derivatives, sold at fair value | $ (108,000) | $ (123,000) |
Credit Risk Contracts | Minimum | ||
Derivative [Line Items] | ||
Risk participation agreements, term | 6 months | |
Credit Risk Contracts | Maximum | ||
Derivative [Line Items] | ||
Risk participation agreements, term | 9 years |
Derivative Instruments and H122
Derivative Instruments and Hedging Activities - Derivative Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 1,448 | $ 22,037 |
Gross amounts not offset in the balance sheet financial instruments, derivative assets | 1,448 | 1,378 |
Gross amounts not offset in the balance sheet cash collateral received, derivative assets | 0 | 20,545 |
Net Amount | 0 | 114 |
Interest Rate Contracts | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 228 | 9,256 |
Gross amounts not offset in the balance sheet financial instruments, derivative assets | 228 | 843 |
Gross amounts not offset in the balance sheet cash collateral received, derivative assets | 0 | 8,413 |
Net Amount | 0 | 0 |
Interest Rate Swap | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,169 | 12,720 |
Gross amounts not offset in the balance sheet financial instruments, derivative assets | 1,169 | 474 |
Gross amounts not offset in the balance sheet cash collateral received, derivative assets | 0 | 12,132 |
Net Amount | 0 | 114 |
Equity Contracts | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 51 | 61 |
Gross amounts not offset in the balance sheet financial instruments, derivative assets | 51 | 61 |
Gross amounts not offset in the balance sheet cash collateral received, derivative assets | 0 | 0 |
Net Amount | $ 0 | $ 0 |
Derivative Instruments and H123
Derivative Instruments and Hedging Activities - Derivative Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 13,581 | $ 35,217 |
Gross amount not offset in the balance sheet financial instruments, derivative liabilities | 12,922 | 16,661 |
Gross amount not offset in the balance sheet cash collateral pledged, derivative liabilities | 0 | 17,651 |
Net Amount | 659 | 905 |
Interest Rate Swap | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 11,599 | 34,046 |
Gross amount not offset in the balance sheet financial instruments, derivative liabilities | 10,940 | 15,490 |
Gross amount not offset in the balance sheet cash collateral pledged, derivative liabilities | 0 | 17,651 |
Net Amount | 659 | 905 |
Interest Rate Contracts | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,982 | 1,171 |
Gross amount not offset in the balance sheet financial instruments, derivative liabilities | 1,982 | 1,171 |
Gross amount not offset in the balance sheet cash collateral pledged, derivative liabilities | 0 | 0 |
Net Amount | $ 0 | $ 0 |
Derivative Instruments and H124
Derivative Instruments and Hedging Activities - Effect of Derivative Financial Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Interest Rate Contracts | Interest income – loans and leases | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 1,446 | $ 2,659 |
Interest Rate Contracts | Interest expense – short-term borrowings | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | 1,374 | 703 |
Interest Rate Swap | Other income | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | (592) | (529) |
Credit Risk Contracts | Other income | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 40 | $ 16 |
Commitments, Credit Risk and125
Commitments, Credit Risk and Contingencies - Summary of Off-Balance Sheet Credit Risk Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Standby letters of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 132,904 | $ 117,732 |
Commitments to extend credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 6,957,822 | $ 4,486,164 |
Commitments, Credit Risk and126
Commitments, Credit Risk and Contingencies - Additional Information (Detail) | Dec. 31, 2017 |
Commitments and Contingencies Disclosure [Abstract] | |
Percentage of commitments to extend credit dependent upon the financial condition of the customers | 76.80% |
Stock Incentive Plans - Additio
Stock Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 11, 2017 | Apr. 06, 2013 | Jun. 15, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock awards issued (in shares) | 713,998 | 574,125 | 664,337 | |||
Common stock shares available under incentive compensation plans (in shares) | 2,642,020 | |||||
Unrecognized compensation expense | $ 12,099 | |||||
Intrinsic value of outstanding and exercisable stock options | $ 4,400 | |||||
Common shares available for purchase under warrants (in shares) | 651,042 | |||||
Annapolis Bancorp, Inc. (ANNB) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrant issued, exercise price (in usd per share) | $ 3.04 | |||||
Warrant issued, shares (in shares) | 342,564 | |||||
Warrants converted to purchase common stock (in shares) | 402,287 | |||||
Yadkin Financial Corporation (YDKN) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrant issued, exercise price (in usd per share) | $ 9.50 | |||||
Warrant issued, shares (in shares) | 207,320 | |||||
Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock awards issued (in shares) | 713,998 | 574,125 | 664,337 | |||
Unrecognized compensation expense | $ 12,100 | |||||
Amount subject to accelerated vesting under Incentive Compensation Plan | $ 700 | |||||
Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common shares available for purchase under warrants (in shares) | 1,302,083 | |||||
Service- Based Awards | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period of awards issued, years | 3 years | |||||
Unrecognized compensation expense | $ 7,037 | |||||
Performance- Based Awards | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation expense | $ 5,062 | |||||
Performance- Based Awards | Restricted Stock Units (RSUs) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock awards issued (in shares) | 251,379 | 277,174 | ||||
Performance- Based Awards | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock percentage of number of units issued | 175.00% | |||||
Performance- Based Awards | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock percentage of number of units issued | 0.00% | |||||
Market Based Restricted Stock Awards | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock percentage of number of units issued | 100.00% | |||||
Warrant Expires in 2019 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrant issued, exercise price (in usd per share) | $ 11.52 | |||||
Warrant Expires in 2019 | Annapolis Bancorp, Inc. (ANNB) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrant issued, exercise price (in usd per share) | $ 3.57 | |||||
Warrant Expires in 2019 | Yadkin Financial Corporation (YDKN) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrant issued, exercise price (in usd per share) | $ 9.63 | |||||
Warrant issued, shares (in shares) | 210,135 | 207,320 |
Stock Incentive Plans - Schedul
Stock Incentive Plans - Schedule of Issuance of Restricted Stock Awards and Aggregate Weighted Average Grant Date Fair Values (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Restricted stock awards (in shares) | 713,998 | 574,125 | 664,337 |
Weighted average grant date fair values | $ 10,474 | $ 7,383 | $ 8,802 |
Stock Incentive Plans - Summary
Stock Incentive Plans - Summary of Information Concerning Restricted Stock Awards (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Awards | |||
Shares, granted (in shares) | 713,998 | 574,125 | 664,337 |
Shares, unvested shares outstanding at end of year (in shares) | 1,975,862 | ||
Restricted Stock | |||
Awards | |||
Shares, unvested shares outstanding at beginning of year (in shares) | 1,836,363 | 1,548,444 | 1,354,093 |
Shares, granted (in shares) | 713,998 | 574,125 | 664,337 |
Shares, net adjustment due to performance (in shares) | (64,861) | 72,070 | 13,115 |
Shares, vested (in shares) | (542,580) | (384,704) | (484,010) |
Shares, forfeited (in shares) | (31,018) | (31,394) | (41,130) |
Shares, dividend reinvestment (in shares) | 63,960 | 57,822 | 42,039 |
Shares, unvested shares outstanding at end of year (in shares) | 1,975,862 | 1,836,363 | 1,548,444 |
Weighted Average Grant Price per Share | |||
Weighted average grant price per share, unvested shares outstanding at beginning of year (USD per share) | $ 12.97 | $ 12.85 | $ 11.86 |
Weighted average grant price per share, granted (USD per share) | 14.67 | 12.86 | 13.25 |
Weighted average grant price per share, net adjustment due to performance (USD per share) | 13.85 | 11.79 | 19.74 |
Weighted average grant price per share, vested (USD per share) | 12.71 | 12.11 | 10.70 |
Weighted average grant price per share, forfeited (USD per share) | 14.03 | 13.02 | 13.24 |
Weighted average grant price per share, dividend reinvestment (USD per share) | 13.80 | 13.08 | 11.86 |
Weighted average grant price per share, unvested shares outstanding at end of year (USD per share) | $ 13.64 | $ 12.97 | $ 12.85 |
Stock Incentive Plans - Sche130
Stock Incentive Plans - Schedule of Certain Information Related to Restricted Stock Awards (Detail) - Restricted Stock - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 8,201 | $ 7,066 | $ 4,461 |
Tax benefit related to stock-based compensation expense | 2,870 | 2,473 | 1,561 |
Fair value of awards vested | $ 8,106 | $ 4,587 | $ 6,070 |
Stock Incentive Plans - Compone
Stock Incentive Plans - Components of Restricted Stock Awards (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unvested restricted stock awards (in shares) | shares | 1,975,862 |
Unrecognized compensation expense | $ 12,099 |
Intrinsic value | $ 27,306 |
Weighted average remaining life (in years) | 1 year 9 months 30 days |
Service- Based Awards | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unvested restricted stock awards (in shares) | shares | 1,062,902 |
Unrecognized compensation expense | $ 7,037 |
Intrinsic value | $ 14,689 |
Weighted average remaining life (in years) | 1 year 11 months 5 days |
Performance- Based Awards | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unvested restricted stock awards (in shares) | shares | 912,960 |
Unrecognized compensation expense | $ 5,062 |
Intrinsic value | $ 12,617 |
Weighted average remaining life (in years) | 1 year 8 months 18 days |
Stock Incentive Plans - Summ132
Stock Incentive Plans - Summary of Activity Related to Stock Options Awards (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Options Outstanding and Exercisable | |||
Shares, options outstanding at beginning of year (in shares) | 892,532 | 435,340 | 568,834 |
Shares, assumed from acquisitions (in shares) | 207,645 | 1,707,036 | 0 |
Shares, exercised (in shares) | (255,503) | (1,128,075) | (93,822) |
Shares, forfeited (in shares) | (122,024) | (121,769) | (39,672) |
Shares, options outstanding and exercisable at end of year (in shares) | 722,650 | 892,532 | 435,340 |
Weighted Average Exercise Price per Share | |||
Weighted average price per share, options outstanding at beginning of year (USD per share) | $ 8.95 | $ 8.86 | $ 8.86 |
Weighted average price per share, assumed from acquisition (USD per share) | 8.92 | 7.83 | 0 |
Weighted average price per share, exercised (USD per share) | 10.21 | 7.18 | 5.94 |
Weighted average price per share, forfeited (USD per share) | 12.12 | 9.33 | 15.66 |
Weighted average price per share, options outstanding and exercisable at end of year (USD per share) | $ 7.96 | $ 8.95 | $ 8.86 |
Stock Incentive Plans - Summ133
Stock Incentive Plans - Summary of Stock Options Outstanding (Detail) | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable (in shares) | shares | 722,650 |
$3.45 - $5.18 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable (in shares) | shares | 162,224 |
Range of Exercise Prices, Minimum | $ 3.45 |
Range of Exercise Prices, Maximum | $ 5.18 |
Weighted Average Remaining Contractual Years | 3 years 25 days |
Weighted Average Exercise Price (USD per share) | $ 4.87 |
$5.19 - $7.78 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable (in shares) | shares | 118,707 |
Range of Exercise Prices, Minimum | $ 5.19 |
Range of Exercise Prices, Maximum | $ 7.78 |
Weighted Average Remaining Contractual Years | 3 years 3 months 21 days |
Weighted Average Exercise Price (USD per share) | $ 6.84 |
$7.79 - $11.68 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable (in shares) | shares | 432,260 |
Range of Exercise Prices, Minimum | $ 7.79 |
Range of Exercise Prices, Maximum | $ 11.68 |
Weighted Average Remaining Contractual Years | 3 years 9 months 18 days |
Weighted Average Exercise Price (USD per share) | $ 9.33 |
$11.69 - $14.53 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable (in shares) | shares | 9,459 |
Range of Exercise Prices, Minimum | $ 11.69 |
Range of Exercise Prices, Maximum | $ 14.53 |
Weighted Average Remaining Contractual Years | 8 months 8 days |
Weighted Average Exercise Price (USD per share) | $ 12.48 |
Stock Incentive Plans - Summ134
Stock Incentive Plans - Summary of Stock Options Exercised (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Proceeds from stock options exercised | $ 2,340 | $ 7,816 | $ 557 |
Tax benefit recognized from stock options exercised | 385 | 1,862 | 130 |
Intrinsic value of stock options exercised | $ 1,001 | $ 6,577 | $ 693 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2017USD ($)RetirementPlansshares | Dec. 31, 2016USD ($)shares | Dec. 31, 2008 | |
Retirement Plans [Line Items] | |||
Number of supplemental non-qualified retirement plans sponsored by the Corporation | RetirementPlans | 2 | ||
Consecutive calendar years used to calculate BRP benefits | 5 years | ||
Term of employment for consideration of BRP | 10 years | ||
Percentage of non callable corporate bonds | A yield curve was produced for a universe containing the majority of U.S.-issued Aa-graded corporate bonds, all of which were non-callable (or callable with make-whole provisions), and after excluding the 10% of the bonds with the highest and lowest yields. | ||
Corporation contribution | $ 1,345,000 | $ 1,345,000 | |
Benefits paid | $ 9,728,000 | 7,936,000 | |
Percent of employer match | 100.00% | ||
Employee contribution percentage | 6.00% | ||
Additional discretionary contribution, annual financial goals, percentage | 3.00% | ||
Dividends received on common stock | $ 276,000 | $ 276,000 | |
Equity securities | |||
Retirement Plans [Line Items] | |||
Common stock, shares | shares | 575,128 | 575,128 | |
Percentage of common stock on total plan assets | 4.90% | 6.70% | |
Non Qualified Pension Plans | |||
Retirement Plans [Line Items] | |||
Benefits paid | $ 1,300,000 | $ 1,300,000 | |
Qualified Pension Plans | |||
Retirement Plans [Line Items] | |||
Corporation contribution | 0 | 0 | |
Benefits paid | $ 8,400,000 | $ 6,600,000 |
Retirement Plans - Schedule of
Retirement Plans - Schedule of Accumulated Benefit Obligation, Change in Benefit Obligation, Change in Plan Assets, Plans' Funded Status and Amount Included in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Benefit Obligation | |||
Accumulated benefit obligation | $ 181,412 | $ 152,586 | |
Projected benefit obligation at beginning of year | 152,916 | 151,015 | |
Acquisition | 29,613 | 0 | |
Service cost | (13) | (15) | $ (14) |
Interest cost | 6,846 | 6,129 | 5,897 |
Actuarial loss | 9,061 | 3,723 | |
Benefits paid | (9,728) | (7,936) | |
Settlement | (7,158) | 0 | |
Projected benefit obligation at end of year | 181,537 | 152,916 | 151,015 |
Fair Value of Plan Assets | |||
Fair value of plan assets at beginning of year | 136,958 | 132,762 | |
Acquisition | 24,961 | 0 | |
Actual return on plan assets | 17,327 | 10,787 | |
Corporation contribution | 1,345 | 1,345 | |
Benefits paid | (9,728) | (7,936) | |
Settlement | (7,158) | 0 | |
Fair value of plan assets at end of year | 163,705 | 136,958 | $ 132,762 |
Funded status of plans | $ (17,832) | $ (15,958) |
Retirement Plans - Schedule 137
Retirement Plans - Schedule of Actuarial Assumptions Used in Determination of Projected Benefit Obligation (Detail) | Dec. 31, 2017 | Dec. 31, 2016 |
Retirement Benefits [Abstract] | ||
Weighted average discount rate | 3.53% | 3.96% |
Rates of average increase in compensation levels | 3.50% | 3.50% |
Retirement Plans - Schedule 138
Retirement Plans - Schedule of Net Periodic Pension Cost and Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retirement Benefits [Abstract] | |||
Service cost | $ (13) | $ (15) | $ (14) |
Interest cost | 6,846 | 6,129 | 5,897 |
Expected return on plan assets | (11,121) | (9,413) | (9,964) |
Transition amount amortization | 0 | 0 | 0 |
Prior service credit amortization | 7 | 7 | 7 |
Actuarial loss amortization | 2,461 | 2,383 | 2,112 |
Net periodic pension income | (1,820) | (909) | (1,962) |
Settlement charge | 168 | 0 | 0 |
Total pension income | (1,652) | (909) | (1,962) |
Current year actuarial loss | 2,855 | 2,349 | 6,914 |
Amortization of actuarial loss | (2,461) | (2,383) | (2,112) |
Amortization of prior service credit | (7) | (7) | (7) |
Amortization of transition asset | 0 | 0 | 0 |
Total amount recognized in other comprehensive income | 387 | (41) | 4,795 |
Total amount recognized in net periodic benefit cost and other comprehensive income | $ (1,265) | $ (950) | $ 2,833 |
Retirement Plans - Schedule 139
Retirement Plans - Schedule of Actuarial Assumptions Used in Determination of Net Periodic Pension Cost (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retirement Benefits [Abstract] | |||
Weighted average discount rate | 3.96% | 4.19% | 3.85% |
Rates of increase in compensation levels | 3.50% | 3.50% | 3.50% |
Expected long-term rate of return on assets | 7.25% | 7.25% | 7.25% |
Retirement Plans - Schedule 140
Retirement Plans - Schedule of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Qualified and Non-Qualified Pension Plans (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | $ 181,537 | $ 152,916 | $ 151,015 |
Accumulated benefit obligation | 181,412 | 152,586 | |
Fair value of plan assets | 163,705 | 136,958 | $ 132,762 |
Qualified Pension Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | 161,632 | 132,902 | |
Accumulated benefit obligation | 161,632 | 132,902 | |
Fair value of plan assets | 163,705 | 136,958 | |
Non-Qualified Pension Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | 19,905 | 20,014 | |
Accumulated benefit obligation | 19,780 | 19,684 | |
Fair value of plan assets | $ 0 | $ 0 |
Retirement Plans - Schedule 141
Retirement Plans - Schedule of Impact of Changes in Discount Rate, Return on Plan Assets on Pension Expense (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Retirement Benefits [Abstract] | |
0.5% decrease in the discount rate | $ (97) |
0.5% decrease in the expected long-term rate of return on plan assets | $ 767 |
Retirement Plans - Schedule 142
Retirement Plans - Schedule of Estimated Future Cash Flows (Detail) $ in Thousands | Dec. 31, 2017USD ($) |
Retirement Benefits [Abstract] | |
Expected employer contributions: 2018 | $ 1,424 |
Expected benefit payments: 2018 | 9,474 |
Expected benefit payments: 2019 | 9,957 |
Expected benefit payments: 2020 | 10,227 |
Expected benefit payments: 2021 | 10,390 |
Expected benefit payments: 2022 | 10,501 |
Expected benefit payments: 2023 - 2027 | $ 53,902 |
Retirement Plans - Schedule 143
Retirement Plans - Schedule of Contribution Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retirement Benefits [Abstract] | |||
401(k) contribution expense | $ 12,286 | $ 9,069 | $ 8,055 |
Retirement Plans - Schedule 144
Retirement Plans - Schedule of Asset Allocations for Pension Plans (Detail) | Dec. 31, 2017 | Dec. 31, 2016 |
Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of Plan Assets | 64.00% | 61.00% |
Total debt securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of Plan Assets | 33.00% | 35.00% |
Cash equivalents | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of Plan Assets | 3.00% | 4.00% |
Minimum | Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 45.00% | |
Minimum | Total debt securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 30.00% | |
Minimum | Cash equivalents | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 0.00% | |
Maximum | Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 65.00% | |
Maximum | Total debt securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 50.00% | |
Maximum | Cash equivalents | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 10.00% |
Retirement Plans - Schedule 145
Retirement Plans - Schedule of Fair Value of Pension Plan Assets by Asset Category (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 163,705 | $ 136,958 | $ 132,762 |
Cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,613 | 5,125 | |
Common Stock | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7,948 | 9,219 | |
Other equity | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 726 | 596 | |
Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,681 | 5,928 | |
Fixed income securities: | U.S. Treasury | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 121 | ||
Fixed income securities: | U.S. government agencies | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 37,671 | 36,891 | |
Fixed income securities: | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,532 | ||
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 120,381 | 100,067 | |
Level 1 | Cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,613 | 5,125 | |
Level 1 | Common Stock | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7,948 | 9,219 | |
Level 1 | Other equity | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 726 | 596 | |
Level 1 | Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,681 | 5,928 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 43,324 | 36,891 | |
Level 2 | Fixed income securities: | U.S. Treasury | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 121 | ||
Level 2 | Fixed income securities: | U.S. government agencies | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 37,671 | 36,891 | |
Level 2 | Fixed income securities: | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,532 | ||
Small Cap Equities | U.S. equity funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,165 | 3,173 | |
Small Cap Equities | Level 1 | U.S. equity funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,165 | 3,173 | |
Mid-Cap Equities | U.S. equity funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 9,413 | 7,615 | |
Mid-Cap Equities | Level 1 | U.S. equity funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 9,413 | 7,615 | |
UNITED STATES | Fixed income mutual funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 11,134 | 10,766 | |
UNITED STATES | Level 1 | Fixed income mutual funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 11,134 | 10,766 | |
UNITED STATES | Large Cap Equities | U.S. equity index funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,489 | 559 | |
UNITED STATES | Large Cap Equities | Level 1 | U.S. equity index funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,489 | 559 | |
UNITED STATES | Small Cap Equities | U.S. equity index funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,983 | 3,035 | |
UNITED STATES | Small Cap Equities | Level 1 | U.S. equity index funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,983 | 3,035 | |
UNITED STATES | Mid-Cap Equities | U.S. equity index funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,836 | 3,795 | |
UNITED STATES | Mid-Cap Equities | Level 1 | U.S. equity index funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,836 | 3,795 | |
Non-US | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 576 | 718 | |
Non-US | Mutual fund equity investments: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 13,965 | 9,555 | |
Non-US | Fixed income mutual funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 414 | |
Non-US | Level 1 | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 576 | 718 | |
Non-US | Level 1 | Mutual fund equity investments: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 13,965 | 9,555 | |
Non-US | Level 1 | Fixed income mutual funds: | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 414 | |
Financial Services Sector | UNITED STATES | Large Cap Equities | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,269 | 2,999 | |
Financial Services Sector | UNITED STATES | Large Cap Equities | Level 1 | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,269 | 2,999 | |
Other Sectors | UNITED STATES | Large Cap Equities | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 45,583 | 36,570 | |
Other Sectors | UNITED STATES | Large Cap Equities | Level 1 | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 45,583 | $ 36,570 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Contingency [Line Items] | ||||
Reclassification due to tax reform | $ 14,700 | |||
Effective income tax rate | 44.10% | 30.60% | 30.50% | |
Income tax expense | $ 54,000 | |||
Unrecognized tax benefits | 650 | 650 | $ 542 | $ 455 |
Unrecognized tax benefits relating to accrued interest, net of related federal tax benefits | 25 | 25 | $ 19 | |
Unrecognized tax benefits which affect the effective tax rate if recognized | 500 | 500 | ||
Reduction in the unrecognized tax benefit due to statutes of limitations for next twelve months | 81 | $ 81 | ||
Minimum | ||||
Income Tax Contingency [Line Items] | ||||
Expiration of unused state net operating loss carryforwards | 2,018 | |||
Maximum | ||||
Income Tax Contingency [Line Items] | ||||
Expiration of unused state net operating loss carryforwards | 2,037 | |||
Yadkin Financial Corporation (YDKN) | Maximum | ||||
Income Tax Contingency [Line Items] | ||||
Expiration of unused state net operating loss carryforwards | 2,036 | |||
Yadkin Financial Corporation (YDKN) | Federal | ||||
Income Tax Contingency [Line Items] | ||||
Tax credit carryforward | 5,200 | $ 5,200 | ||
Operating loss carryforwards | 65,500 | 65,500 | ||
Yadkin Financial Corporation (YDKN) | State | ||||
Income Tax Contingency [Line Items] | ||||
Operating loss carryforwards | $ 21,500 | $ 21,500 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Expense Allocated Based on Separate Tax Return Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Current income taxes: Federal taxes | $ 26,336 | $ 57,894 | $ 69,572 |
Current income taxes: State taxes | 1,746 | 2,329 | 989 |
Total current income taxes | 28,082 | 60,223 | 70,561 |
Deferred income taxes: Federal taxes | 128,204 | 14,983 | 63 |
Deferred income taxes: State taxes | 779 | 291 | (631) |
Total deferred income taxes | 128,983 | 15,274 | (568) |
Total income taxes | $ 157,065 | $ 75,497 | $ 69,993 |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation Between the Statutory Tax Rate and Actual Effective Tax Rate (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Statutory tax rate | 35.00% | 35.00% | 35.00% |
State taxes, net of federal benefit | 0.50% | 0.70% | 0.80% |
Valuation allowance reversal | 0.00% | 0.00% | (0.80%) |
Tax-exempt interest | (3.30%) | (2.90%) | (2.20%) |
Cash surrender value of life insurance | 1.10% | 1.50% | 1.30% |
Tax credits | (2.60%) | (0.90%) | (1.10%) |
TCJA deferred tax corporate rate change | 0.20% | 0.00% | 0.00% |
Tax Cuts and Jobs Act revaluation of net deferred tax assets | 15.20% | 0.00% | 0.00% |
Other items | 0.20% | 0.20% | 0.10% |
Actual effective tax rate | 44.10% | 30.60% | 30.50% |
Income tax expense | $ 54 |
Income Taxes - Income Tax Expen
Income Taxes - Income Tax Expense Related to Gains on Sale of Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Income tax expense related to gains on sale of securities | $ 2,071 | $ 249 | $ 288 |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities from Tax Effects of Temporary Differences (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Income Tax Disclosure [Abstract] | ||
Allowance for credit losses | $ 38,933 | $ 56,090 |
Discounts on acquired loans | 64,341 | 48,978 |
Net operating loss/tax credit carryforwards | 47,376 | 17,753 |
Deferred compensation | 8,534 | 12,236 |
Securities impairments | 1,092 | 0 |
Pension and other defined benefit plans | 6,768 | 7,713 |
Net unrealized securities losses | 7,238 | 6,972 |
Other | 7,787 | 11,264 |
Total | 182,069 | 161,006 |
Valuation allowance | (26,620) | (18,945) |
Total deferred tax assets | 155,449 | 142,061 |
Loan costs | (7,211) | (2,222) |
Depreciation | (12,263) | (12,392) |
Prepaid expenses | (3,669) | (682) |
Amortizable intangibles | (18,422) | (18,506) |
Lease financing | (10,035) | (5,538) |
Debt discharge income deferral | (474) | (1,361) |
Originated mortgage servicing rights | (6,178) | (748) |
Net unrealized securities gains | 0 | (86) |
Other | (1,647) | (1,253) |
Total deferred tax liabilities | (59,899) | (42,788) |
Net deferred tax assets | $ 95,550 | $ 99,273 |
Income Taxes - Summary of Re151
Income Taxes - Summary of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Changes of Unrecognized Tax Benefits [Roll Forward] | ||
Balance at beginning of year | $ 542 | $ 455 |
Additions based on tax positions related to current year | 186 | 163 |
Additions based on tax positions of prior year | 0 | 0 |
Reductions for tax positions of prior years | (5) | 0 |
Reductions due to expiration of statute of limitations | (73) | (76) |
Balance at end of year | $ 650 | $ 542 |
Other Comprehensive Income - Ch
Other Comprehensive Income - Changes in AOCI, Net of Tax, by Component (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Dec. 31, 2017 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance at beginning of period | $ 2,571,617 | |
Amounts reclassified from AOCI due to tax reform | $ (14,700) | |
Balance at end of period | 4,409,194 | 4,409,194 |
Unrealized Net Gains (Losses) on Securities Available for Sale | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance at beginning of period | (18,222) | |
Other comprehensive income (loss) before reclassifications | (5,744) | |
Amounts reclassified from AOCI | (411) | |
Amounts reclassified from AOCI due to tax reform | (5,249) | |
Net current period other comprehensive income (loss) | (11,404) | |
Balance at end of period | (29,626) | (29,626) |
Unrealized Net Gains (Losses) on Derivative Instruments | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance at beginning of period | 5,254 | |
Other comprehensive income (loss) before reclassifications | (759) | |
Amounts reclassified from AOCI | (46) | |
Amounts reclassified from AOCI due to tax reform | 958 | |
Net current period other comprehensive income (loss) | 153 | |
Balance at end of period | 5,407 | 5,407 |
Unrecognized Pension and Postretirement Obligations | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance at beginning of period | (48,401) | |
Other comprehensive income (loss) before reclassifications | (7) | |
Amounts reclassified from AOCI | 0 | |
Amounts reclassified from AOCI due to tax reform | (10,425) | |
Net current period other comprehensive income (loss) | (10,432) | |
Balance at end of period | (58,833) | (58,833) |
Total | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance at beginning of period | (61,369) | |
Other comprehensive income (loss) before reclassifications | (6,510) | |
Amounts reclassified from AOCI | (457) | |
Amounts reclassified from AOCI due to tax reform | (14,716) | |
Net current period other comprehensive income (loss) | (21,683) | |
Balance at end of period | $ (83,052) | $ (83,052) |
Earnings Per Common Share - Com
Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||||||||||
Net income | $ 24,126 | $ 77,693 | $ 74,406 | $ 22,979 | $ 51,291 | $ 52,168 | $ 41,300 | $ 26,132 | $ 199,204 | $ 170,891 | $ 159,649 |
Less: Preferred stock dividends | 8,041 | 8,041 | 8,041 | ||||||||
Net Income Available to Common Stockholders | $ 22,115 | $ 75,683 | $ 72,396 | $ 20,969 | $ 49,280 | $ 50,158 | $ 39,290 | $ 24,122 | $ 191,163 | $ 162,850 | $ 151,608 |
Basic weighted average common shares outstanding (in shares) | 302,195,295 | 206,244,498 | 174,971,785 | ||||||||
Net effect of dilutive stock options, warrants and restricted stock (in shares) | 1,662,681 | 1,524,111 | 1,367,168 | ||||||||
Diluted weighted average common shares outstanding (in shares) | 303,857,976 | 207,768,609 | 176,338,953 | ||||||||
Basic (in usd per share) | $ 0.07 | $ 0.23 | $ 0.22 | $ 0.09 | $ 0.23 | $ 0.24 | $ 0.19 | $ 0.12 | $ 0.63 | $ 0.79 | $ 0.87 |
Diluted (in usd per share) | $ 0.07 | $ 0.23 | $ 0.22 | $ 0.09 | $ 0.23 | $ 0.24 | $ 0.19 | $ 0.12 | $ 0.63 | $ 0.78 | $ 0.86 |
Earnings Per Common Share - Sch
Earnings Per Common Share - Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||
Average shares excluded from the diluted earnings per common share calculation (in shares) | 910 | 9,980 | 18,167 |
Regulatory Matters - Schedule o
Regulatory Matters - Schedule of Capital Ratios (Detail) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital, actual amount | $ 2,666,272,000 | $ 1,917,386,000 |
Tier 1 capital, actual amount | 2,184,571,000 | 1,582,251,000 |
Common equity tier 1, actual amount | 2,077,689,000 | 1,475,369,000 |
Leverage, actual amount | 2,184,571,000 | 1,582,251,000 |
Risk weighted assets, actual amount | $ 23,403,622,000 | $ 15,979,505,000 |
Total capital, actual ratio | 11.40% | 12.00% |
Total capital, actual ratio tier 1 capital, actual ratio | 9.30% | 9.90% |
Common equity tier 1, actual ratio | 8.90% | 9.20% |
Leverage, actual ratio | 7.60% | 7.70% |
Total capital, well-capitalized requirements amount | $ 2,340,362,000 | $ 1,597,951,000 |
Tier 1 capital, well-capitalized requirements amount | 1,872,290,000 | 1,278,360,000 |
Common equity tier 1, well-capitalized requirements amount | 1,521,235,000 | 1,038,668,000 |
Leverage, well-capitalized requirements amount | $ 1,440,797,000 | $ 1,027,831,000 |
Total capital, well-capitalized requirements ratio | 10.00% | 10.00% |
Tier 1 capital, well-capitalized requirements ratio | 8.00% | 8.00% |
Common equity tier 1, well-capitalized requirements ratio | 6.50% | 6.50% |
Leverage, well-capitalized requirements ratio | 5.00% | 5.00% |
Total capital, minimum capital requirements amount | $ 2,164,835,000 | $ 1,378,232,000 |
Tier 1 capital, minimum capital requirements amount | 1,696,763,000 | 1,058,642,000 |
Common equity tier 1, minimum capital requirements amount | 1,345,708,000 | 818,950,000 |
Leverage, minimum capital requirements amount | $ 1,152,638,000 | $ 822,265,000 |
Total capital, minimum capital requirements ratio | 9.30% | 8.60% |
Tier 1 capital, minimum capital requirements ratio | 7.30% | 6.60% |
Common equity tier 1, minimum capital requirements ratio | 5.80% | 5.10% |
Leverage, minimum capital requirements ratio | 4.00% | 4.00% |
FNBPA | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital, actual amount | $ 2,504,191,000 | $ 1,768,561,000 |
Tier 1 capital, actual amount | 2,332,892,000 | 1,614,167,000 |
Common equity tier 1, actual amount | 2,252,892,000 | 1,534,167,000 |
Leverage, actual amount | 2,332,892,000 | 1,614,167,000 |
Risk weighted assets, actual amount | $ 23,325,934,000 | $ 15,889,893,000 |
Total capital, actual ratio | 10.70% | 11.10% |
Total capital, actual ratio tier 1 capital, actual ratio | 10.00% | 10.20% |
Common equity tier 1, actual ratio | 9.70% | 9.70% |
Leverage, actual ratio | 8.10% | 7.90% |
Total capital, well-capitalized requirements amount | $ 2,332,593,000 | $ 1,588,989,000 |
Tier 1 capital, well-capitalized requirements amount | 1,866,075,000 | 1,271,191,000 |
Common equity tier 1, well-capitalized requirements amount | 1,516,186,000 | 1,032,843,000 |
Leverage, well-capitalized requirements amount | $ 1,432,604,000 | $ 1,019,034,000 |
Total capital, well-capitalized requirements ratio | 10.00% | 10.00% |
Tier 1 capital, well-capitalized requirements ratio | 8.00% | 8.00% |
Common equity tier 1, well-capitalized requirements ratio | 6.50% | 6.50% |
Leverage, well-capitalized requirements ratio | 5.00% | 5.00% |
Total capital, minimum capital requirements amount | $ 2,157,649,000 | $ 1,370,503,000 |
Tier 1 capital, minimum capital requirements amount | 1,691,130,000 | 1,052,705,000 |
Common equity tier 1, minimum capital requirements amount | 1,341,241,000 | 814,357,000 |
Leverage, minimum capital requirements amount | $ 1,146,084,000 | $ 815,227,000 |
Total capital, minimum capital requirements ratio | 9.30% | 8.60% |
Tier 1 capital, minimum capital requirements ratio | 7.30% | 6.60% |
Common equity tier 1, minimum capital requirements ratio | 5.80% | 5.10% |
Leverage, minimum capital requirements ratio | 4.00% | 4.00% |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) $ in Millions | Dec. 31, 2017USD ($) |
Banking and Thrift [Abstract] | |
Aggregate cash reserves with FRB | $ 39.6 |
Retained earnings available for distribution | 206.8 |
Maximum amount loans that corporation can borrower under current provisions | $ 474.8 |
Cash Flow Information - Summary
Cash Flow Information - Summary of Cash Flow Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Cash Flows [Abstract] | |||
Interest paid on deposits and other borrowings | $ 129,024 | $ 67,296 | $ 47,805 |
Income taxes paid | 52,500 | 60,000 | 61,500 |
Transfers of loans to other real estate owned | 34,841 | 14,592 | 9,628 |
Financing of other real estate owned sold | $ 19 | $ 441 | $ 372 |
Business Segments - Additional
Business Segments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 4 |
Business Segments - Financial I
Business Segments - Financial Information for Segments of FNB (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||||||||
Interest income | $ 271,085 | $ 263,514 | $ 251,034 | $ 194,693 | $ 177,168 | $ 175,110 | $ 170,931 | $ 155,754 | $ 980,326 | $ 678,963 | $ 546,795 |
Interest expense | 41,049 | 38,283 | 32,619 | 21,941 | 17,885 | 17,604 | 16,562 | 15,400 | 133,892 | 67,451 | 48,573 |
Net interest income | 230,036 | 225,231 | 218,415 | 172,752 | 159,283 | 157,506 | 154,369 | 140,354 | 846,434 | 611,512 | 498,222 |
Provision for credit losses | 16,699 | 16,768 | 16,756 | 10,850 | 12,705 | 14,639 | 16,640 | 11,768 | 61,073 | 55,752 | 40,441 |
Non-interest income | 252,449 | 201,761 | 162,410 | ||||||||
Non-interest expense | 664,024 | 499,923 | 382,244 | ||||||||
Amortization of intangibles | 17,517 | 11,210 | 8,305 | ||||||||
Income tax expense (benefit) | 157,065 | 75,497 | 69,993 | ||||||||
Net income (loss) | 24,126 | $ 77,693 | $ 74,406 | $ 22,979 | 51,291 | $ 52,168 | $ 41,300 | $ 26,132 | 199,204 | 170,891 | 159,649 |
Total assets | 31,417,635 | 21,844,817 | 31,417,635 | 21,844,817 | 17,557,662 | ||||||
Total intangibles | 2,341,263 | 1,085,935 | 2,341,263 | 1,085,935 | 869,809 | ||||||
Operating Segments | Community Banking | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Interest income | 943,661 | 640,895 | 509,585 | ||||||||
Interest expense | 117,951 | 56,182 | 41,227 | ||||||||
Net interest income | 825,710 | 584,713 | 468,358 | ||||||||
Provision for credit losses | 52,780 | 49,046 | 33,045 | ||||||||
Non-interest income | 197,517 | 149,408 | 114,377 | ||||||||
Non-interest expense | 596,813 | 437,031 | 320,912 | ||||||||
Amortization of intangibles | 17,050 | 10,526 | 7,544 | ||||||||
Income tax expense (benefit) | 152,778 | 72,619 | 66,979 | ||||||||
Net income (loss) | 203,806 | 164,899 | 154,255 | ||||||||
Total assets | 31,155,973 | 21,629,374 | 31,155,973 | 21,629,374 | 17,349,459 | ||||||
Total intangibles | 2,317,151 | 1,061,597 | 2,317,151 | 1,061,597 | 844,630 | ||||||
Operating Segments | Wealth Management | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Interest income | 0 | 0 | 0 | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Net interest income | 0 | 0 | 0 | ||||||||
Provision for credit losses | 0 | 0 | 0 | ||||||||
Non-interest income | 39,256 | 35,283 | 35,246 | ||||||||
Non-interest expense | 30,563 | 27,201 | 27,264 | ||||||||
Amortization of intangibles | 254 | 259 | 273 | ||||||||
Income tax expense (benefit) | 2,679 | 2,845 | 2,803 | ||||||||
Net income (loss) | 5,760 | 4,978 | 4,906 | ||||||||
Total assets | 24,218 | 19,619 | 24,218 | 19,619 | 20,753 | ||||||
Total intangibles | 10,176 | 10,189 | 10,176 | 10,189 | 10,447 | ||||||
Operating Segments | Insurance | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Interest income | 81 | 84 | 89 | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Net interest income | 81 | 84 | 89 | ||||||||
Provision for credit losses | 0 | 0 | 0 | ||||||||
Non-interest income | 15,671 | 14,750 | 13,052 | ||||||||
Non-interest expense | 14,507 | 12,965 | 13,891 | ||||||||
Amortization of intangibles | 213 | 425 | 488 | ||||||||
Income tax expense (benefit) | (256) | 532 | (412) | ||||||||
Net income (loss) | 1,288 | 912 | (826) | ||||||||
Total assets | 21,062 | 22,053 | 21,062 | 22,053 | 22,207 | ||||||
Total intangibles | 12,127 | 12,340 | 12,127 | 12,340 | 12,923 | ||||||
Operating Segments | Consumer Finance | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Interest income | 40,187 | 40,922 | 39,868 | ||||||||
Interest expense | 3,676 | 3,759 | 3,518 | ||||||||
Net interest income | 36,511 | 37,163 | 36,350 | ||||||||
Provision for credit losses | 8,293 | 6,706 | 7,396 | ||||||||
Non-interest income | 3,256 | 3,002 | 2,926 | ||||||||
Non-interest expense | 21,502 | 21,662 | 20,189 | ||||||||
Amortization of intangibles | 0 | 0 | 0 | ||||||||
Income tax expense (benefit) | 5,283 | 4,488 | 4,709 | ||||||||
Net income (loss) | 4,689 | 7,309 | 6,982 | ||||||||
Total assets | 181,260 | 193,349 | 181,260 | 193,349 | 195,048 | ||||||
Total intangibles | 1,809 | 1,809 | 1,809 | 1,809 | 1,809 | ||||||
Parent and Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Interest income | (3,603) | (2,938) | (2,747) | ||||||||
Interest expense | 12,265 | 7,510 | 3,828 | ||||||||
Net interest income | (15,868) | (10,448) | (6,575) | ||||||||
Provision for credit losses | 0 | 0 | 0 | ||||||||
Non-interest income | (3,251) | (682) | (3,191) | ||||||||
Non-interest expense | 639 | 1,064 | (12) | ||||||||
Amortization of intangibles | 0 | 0 | 0 | ||||||||
Income tax expense (benefit) | (3,419) | (4,987) | (4,086) | ||||||||
Net income (loss) | (16,339) | (7,207) | (5,668) | ||||||||
Total assets | 35,122 | (19,578) | 35,122 | (19,578) | (29,805) | ||||||
Total intangibles | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value Measurements Disclosure [Line Items] | ||
Percentage of securities using market-based information | 100.00% | |
Minimum reserves for commercial loan | $ 500,000 | |
Allocated allowance for loan losses | 3,600,000 | |
Fair value of allocated allowance | 4,100,000 | |
Estimated costs to sell | 400,000 | |
Provision for fair value measurements included in allowance for loan losses | 3,700,000 | |
Carrying amount of OREO | 23,300,000 | |
Written down of OREO | 18,700,000 | |
Fair value of OREO | 21,300,000 | |
Estimated cost to sell OREO | 2,600,000 | |
Loss from OREO included in earnings | $ 4,600,000 | |
Short-term borrowings approximate fair value for amounts that mature, days, less than | 90 days | |
Fair value, measurements, nonrecurring | ||
Fair Value Measurements Disclosure [Line Items] | ||
Impaired loans, carrying amount | $ 7,300,000 | |
Allocated allowance for loan losses | 4,110,000 | $ 6,383,000 |
Fair value of OREO | 21,336,000 | 14,198,000 |
Assets Still Held | ||
Fair Value Measurements Disclosure [Line Items] | ||
Change in unrealized gains or losses included in earnings relating to assets still held | 0 | $ 0 |
Equity securities | ||
Fair Value Measurements Disclosure [Line Items] | ||
Transfer of equity security to non-marketable equity securities, included in other assets | 600,000 | |
Yadkin Financial Corporation (YDKN) | Other debt securities | ||
Fair Value Measurements Disclosure [Line Items] | ||
Certain loans acquired in transfer not accounted for as debt securities, outstanding balance | $ 12,000,000 |
Fair Value Measurements - Balan
Fair Value Measurements - Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | $ 2,764,562 | $ 2,231,987 |
Loans held for sale | 56,458 | 0 |
Derivative financial instruments | 30,547 | 54,220 |
Derivative financial instruments | 29,197 | 47,267 |
U.S. Treasury | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 0 | 29,953 |
U.S. government-sponsored entities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 343,942 | 365,098 |
Agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 794,957 | 535,974 |
Non-agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 1 | 897 |
Commercial mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 0 | 1,291 |
States of the U.S. and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 21,093 | 35,849 |
Other debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 4,670 | 9,487 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 161 | 148 |
Derivative financial instruments | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 2,764,401 | 2,230,453 |
Derivative financial instruments | 28,953 | 54,220 |
Derivative financial instruments | 29,192 | 47,267 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total equity securities available for sale | 0 | 1,386 |
Derivative financial instruments | 1,594 | 0 |
Derivative financial instruments | 5 | 0 |
Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 2,763,537 | 2,231,347 |
Equity securities available for sale | 1,025 | 640 |
Total equity securities available for sale | 2,764,562 | 2,231,987 |
Loans held for sale | 56,458 | |
Derivative financial instruments | 30,547 | 54,220 |
Total assets measured at fair value on a recurring basis | 2,851,567 | 2,286,207 |
Derivative financial instruments | 29,197 | 47,267 |
Total liabilities measured at fair value on a recurring basis | 29,197 | 47,267 |
Fair value, measurements, recurring | U.S. Treasury | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 29,953 |
Fair value, measurements, recurring | U.S. government-sponsored entities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 343,942 | 365,098 |
Fair value, measurements, recurring | Agency mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,598,874 | 1,252,798 |
Fair value, measurements, recurring | Agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 794,957 | 535,974 |
Fair value, measurements, recurring | Non-agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1 | 897 |
Fair value, measurements, recurring | Commercial mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 1,291 |
Fair value, measurements, recurring | States of the U.S. and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 21,093 | 35,849 |
Fair value, measurements, recurring | Other debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 4,670 | 9,487 |
Fair value, measurements, recurring | Trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 28,453 | 44,951 |
Fair value, measurements, recurring | Not for trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 2,094 | 9,269 |
Fair value, measurements, recurring | Fixed income mutual fund | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 161 | |
Fair value, measurements, recurring | Financial services industry | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 864 | 492 |
Fair value, measurements, recurring | Insurance services industry | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 0 | 148 |
Fair value, measurements, recurring | Trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 26,953 | 45,973 |
Fair value, measurements, recurring | Not for trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 2,244 | 1,294 |
Fair value, measurements, recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Equity securities available for sale | 161 | 148 |
Total equity securities available for sale | 161 | 148 |
Loans held for sale | 0 | |
Derivative financial instruments | 0 | 0 |
Total assets measured at fair value on a recurring basis | 161 | 148 |
Derivative financial instruments | 0 | 0 |
Total liabilities measured at fair value on a recurring basis | 0 | 0 |
Fair value, measurements, recurring | Level 1 | U.S. Treasury | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | U.S. government-sponsored entities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Agency mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Non-agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Commercial mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | States of the U.S. and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Other debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Not for trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Fixed income mutual fund | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 161 | |
Fair value, measurements, recurring | Level 1 | Financial services industry | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Insurance services industry | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 0 | 148 |
Fair value, measurements, recurring | Level 1 | Trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 0 | 0 |
Fair value, measurements, recurring | Level 1 | Not for trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 0 | 0 |
Fair value, measurements, recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 2,763,537 | 2,230,453 |
Equity securities available for sale | 864 | 0 |
Total equity securities available for sale | 2,764,401 | 2,230,453 |
Loans held for sale | 56,458 | |
Derivative financial instruments | 28,953 | 54,220 |
Total assets measured at fair value on a recurring basis | 2,849,812 | 2,284,673 |
Derivative financial instruments | 29,192 | 47,267 |
Total liabilities measured at fair value on a recurring basis | 29,192 | 47,267 |
Fair value, measurements, recurring | Level 2 | U.S. Treasury | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 29,953 |
Fair value, measurements, recurring | Level 2 | U.S. government-sponsored entities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 343,942 | 365,098 |
Fair value, measurements, recurring | Level 2 | Agency mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,598,874 | 1,252,798 |
Fair value, measurements, recurring | Level 2 | Agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 794,957 | 535,974 |
Fair value, measurements, recurring | Level 2 | Non-agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1 | 3 |
Fair value, measurements, recurring | Level 2 | Commercial mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 1,291 |
Fair value, measurements, recurring | Level 2 | States of the U.S. and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 21,093 | 35,849 |
Fair value, measurements, recurring | Level 2 | Other debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 4,670 | 9,487 |
Fair value, measurements, recurring | Level 2 | Trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 28,453 | 44,951 |
Fair value, measurements, recurring | Level 2 | Not for trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 500 | 9,269 |
Fair value, measurements, recurring | Level 2 | Fixed income mutual fund | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 0 | |
Fair value, measurements, recurring | Level 2 | Financial services industry | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 864 | 0 |
Fair value, measurements, recurring | Level 2 | Insurance services industry | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 2 | Trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 26,953 | 45,973 |
Fair value, measurements, recurring | Level 2 | Not for trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 2,239 | 1,294 |
Fair value, measurements, recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 894 |
Equity securities available for sale | 0 | 492 |
Total equity securities available for sale | 0 | 1,386 |
Loans held for sale | 0 | |
Derivative financial instruments | 1,594 | 0 |
Total assets measured at fair value on a recurring basis | 1,594 | 1,386 |
Derivative financial instruments | 5 | 0 |
Total liabilities measured at fair value on a recurring basis | 5 | 0 |
Fair value, measurements, recurring | Level 3 | U.S. Treasury | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 3 | U.S. government-sponsored entities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 3 | Agency mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 3 | Agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 3 | Non-agency collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 894 |
Fair value, measurements, recurring | Level 3 | Commercial mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 3 | States of the U.S. and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 3 | Other debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 3 | Trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 0 | 0 |
Fair value, measurements, recurring | Level 3 | Not for trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 1,594 | 0 |
Fair value, measurements, recurring | Level 3 | Fixed income mutual fund | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 0 | |
Fair value, measurements, recurring | Level 3 | Financial services industry | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 0 | 492 |
Fair value, measurements, recurring | Level 3 | Insurance services industry | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities available for sale | 0 | 0 |
Fair value, measurements, recurring | Level 3 | Trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 0 | 0 |
Fair value, measurements, recurring | Level 3 | Not for trading | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | $ 5 | $ 0 |
Fair Value Measurements - Ad162
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Recurring Basis (Detail) - Fair value, measurements, recurring - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | $ 1,386 | $ 1,623 |
Included in earnings | 4 | 0 |
Included in other comprehensive income | 80 | 46 |
Accretion included in earnings | 0 | 6 |
Purchases | 13,642 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | (12,921) | 0 |
Settlements | (4,588) | (289) |
Transfers from Level 3 | (578) | 0 |
Transfers into Level 3 | 4,569 | 0 |
Balance at end of period | 1,594 | 1,386 |
Other debt securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | 0 | 0 |
Included in earnings | 0 | 0 |
Included in other comprehensive income | 0 | 0 |
Accretion included in earnings | (1) | 0 |
Purchases | 12,048 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | (12,047) | 0 |
Settlements | 0 | 0 |
Transfers from Level 3 | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 0 | 0 |
Equity securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | 492 | 439 |
Included in earnings | 0 | 0 |
Included in other comprehensive income | 86 | 53 |
Accretion included in earnings | 0 | 0 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | 0 | 0 |
Settlements | 0 | 0 |
Transfers from Level 3 | (578) | 0 |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 0 | 492 |
Residential Non-Agency Collateralized Mortgage Obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | 894 | 1,184 |
Included in earnings | 4 | 0 |
Included in other comprehensive income | (6) | (7) |
Accretion included in earnings | 1 | 6 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | (874) | 0 |
Settlements | (19) | (289) |
Transfers from Level 3 | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 0 | 894 |
Interest Rate Lock Commitments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | 0 | 0 |
Included in earnings | 0 | 0 |
Included in other comprehensive income | 0 | 0 |
Accretion included in earnings | 0 | 0 |
Purchases | 1,594 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | 0 | 0 |
Settlements | (4,569) | 0 |
Transfers from Level 3 | 0 | 0 |
Transfers into Level 3 | 4,569 | 0 |
Balance at end of period | $ 1,594 | $ 0 |
Fair Value Measurements - Ad163
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 3,600 | |
Other real estate owned | 21,300 | |
Loans held for sale | 56,458 | $ 0 |
Fair value, measurements, nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 4,110 | 6,383 |
Other real estate owned | 21,336 | 14,198 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | 0 | 0 |
Level 1 | Fair value, measurements, nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | 0 | 0 |
Level 2 | Fair value, measurements, nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 2,813 | 500 |
Other real estate owned | 10,513 | 11,017 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | 37,758 | 17,546 |
Level 3 | Fair value, measurements, nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 1,297 | 5,883 |
Other real estate owned | 10,823 | 3,181 |
Small Business Administration Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | 5,058 | $ 0 |
Small Business Administration Loans | Fair value, measurements, nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 36,432 | |
Other assets | 5,058 | |
Small Business Administration Loans | Level 1 | Fair value, measurements, nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 0 | |
Other assets | 0 | |
Small Business Administration Loans | Level 2 | Fair value, measurements, nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 0 | |
Other assets | 0 | |
Small Business Administration Loans | Level 3 | Fair value, measurements, nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 36,432 | |
Other assets | $ 5,058 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Values of Corporation's Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Financial Assets | ||||
Cash and cash equivalents | $ 479,443 | $ 371,407 | $ 489,119 | $ 287,393 |
Securities available for sale | 2,764,562 | 2,231,987 | ||
Securities held to maturity | 3,242,268 | 2,337,342 | ||
Securities held to maturity | 3,218,379 | 2,294,777 | ||
Derivative financial instruments | 30,547 | 54,220 | ||
Financial Liabilities | ||||
Financial Liabilities Deposits | 22,399,725 | 16,065,647 | ||
Short-term borrowings | 3,678,337 | 2,503,010 | ||
Long-term borrowings | 668,173 | 539,494 | ||
Derivative liabilities | 29,197 | 47,267 | ||
Carrying Amount | ||||
Financial Assets | ||||
Cash and cash equivalents | 479,443 | 371,407 | ||
Securities available for sale | 2,764,562 | 2,231,987 | ||
Securities held to maturity | 3,242,268 | 2,337,342 | ||
Net loans and leases, including loans held for sale | 20,916,277 | 14,750,792 | ||
Loan servicing rights | 34,111 | 13,521 | ||
Derivative financial instruments | 30,547 | 54,220 | ||
Accrued interest receivable | 94,254 | 58,712 | ||
Financial Liabilities | ||||
Financial Liabilities Deposits | 22,399,725 | 16,065,647 | ||
Short-term borrowings | 3,678,337 | 2,503,010 | ||
Long-term borrowings | 668,173 | 539,494 | ||
Derivative liabilities | 29,197 | 47,267 | ||
Accrued interest payable | 12,480 | 7,612 | ||
Fair Value | ||||
Financial Assets | ||||
Cash and cash equivalents | 479,443 | 371,407 | ||
Securities available for sale | 2,764,562 | 2,231,987 | ||
Securities held to maturity | 3,218,379 | 2,294,777 | ||
Net loans and leases, including loans held for sale | 20,661,196 | 14,464,274 | ||
Loan servicing rights | 37,758 | 17,546 | ||
Derivative financial instruments | 30,547 | 54,220 | ||
Accrued interest receivable | 94,254 | 58,712 | ||
Financial Liabilities | ||||
Deposits | 22,359,182 | 16,045,323 | ||
Short-term borrowings | 3,678,723 | 2,503,277 | ||
Long-term borrowings | 675,489 | 536,088 | ||
Derivative liabilities | 29,197 | 47,267 | ||
Accrued interest payable | 12,480 | 7,612 | ||
Level 1 | ||||
Financial Assets | ||||
Cash and cash equivalents | 479,443 | 371,407 | ||
Securities available for sale | 161 | 148 | ||
Securities held to maturity | 0 | 0 | ||
Net loans and leases, including loans held for sale | 0 | 0 | ||
Loan servicing rights | 0 | 0 | ||
Derivative financial instruments | 0 | 0 | ||
Accrued interest receivable | 94,254 | 58,712 | ||
Financial Liabilities | ||||
Deposits | 17,779,246 | 13,489,152 | ||
Short-term borrowings | 3,678,723 | 2,503,277 | ||
Long-term borrowings | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Accrued interest payable | 12,480 | 7,612 | ||
Level 2 | ||||
Financial Assets | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale | 2,764,401 | 2,230,453 | ||
Securities held to maturity | 3,218,379 | 2,293,091 | ||
Net loans and leases, including loans held for sale | 56,458 | 0 | ||
Loan servicing rights | 0 | 0 | ||
Derivative financial instruments | 28,953 | 54,220 | ||
Accrued interest receivable | 0 | 0 | ||
Financial Liabilities | ||||
Deposits | 4,579,936 | 2,556,171 | ||
Short-term borrowings | 0 | 0 | ||
Long-term borrowings | 0 | 0 | ||
Derivative liabilities | 29,192 | 47,267 | ||
Accrued interest payable | 0 | 0 | ||
Level 3 | ||||
Financial Assets | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale | 0 | 1,386 | ||
Securities held to maturity | 0 | 1,686 | ||
Net loans and leases, including loans held for sale | 20,604,738 | 14,464,274 | ||
Loan servicing rights | 37,758 | 17,546 | ||
Derivative financial instruments | 1,594 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Financial Liabilities | ||||
Deposits | 0 | 0 | ||
Short-term borrowings | 0 | 0 | ||
Long-term borrowings | 675,489 | 536,088 | ||
Derivative liabilities | 5 | 0 | ||
Accrued interest payable | $ 0 | $ 0 |
Parent Company Financial Sta165
Parent Company Financial Statements - Consolidated Balance Sheet of Parent Company Only (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 479,443 | $ 371,407 | $ 489,119 | $ 287,393 |
Securities available for sale | 2,764,562 | 2,231,987 | ||
Other assets | 810,464 | 493,246 | ||
Total Assets | 31,417,635 | 21,844,817 | 17,557,662 | |
Other liabilities | 262,206 | 165,049 | ||
Long-term borrowings | 668,173 | 539,494 | ||
Long-term | 87,614 | 87,147 | ||
Total Liabilities | 27,008,441 | 19,273,200 | ||
Stockholders' Equity | 4,409,194 | 2,571,617 | 2,096,182 | 2,021,456 |
Total Liabilities and Stockholders' Equity | 31,417,635 | 21,844,817 | ||
Parent Company | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 165,698 | 164,276 | $ 227,554 | $ 129,320 |
Securities available for sale | 864 | 492 | ||
Other assets | 22,344 | 17,405 | ||
Total Assets | 5,036,845 | 3,050,691 | ||
Other liabilities | 33,000 | 26,063 | ||
Advances from affiliates | 306,096 | 295,897 | ||
Long-term borrowings | 279,536 | 147,916 | ||
Short-term | 7,993 | 8,172 | ||
Long-term | 1,026 | 1,026 | ||
Total Liabilities | 627,651 | 479,074 | ||
Stockholders' Equity | 4,409,194 | 2,571,617 | ||
Total Liabilities and Stockholders' Equity | 5,036,845 | 3,050,691 | ||
Parent Company | Bank Subsidiary | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Investment in and advances to subsidiaries | 4,553,703 | 2,598,520 | ||
Parent Company | Non-bank Subsidiaries | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Investment in and advances to subsidiaries | $ 294,236 | $ 269,998 |
Parent Company Financial Sta166
Parent Company Financial Statements - Statements of Income of Parent Company Only (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividend income from subsidiaries: | $ 88 | $ 34 | $ 39 | ||||||||
Interest income | $ 271,085 | $ 263,514 | $ 251,034 | $ 194,693 | $ 177,168 | $ 175,110 | $ 170,931 | $ 155,754 | 980,326 | 678,963 | 546,795 |
Interest income | 902 | 444 | 117 | ||||||||
Interest expense | 41,049 | 38,283 | 32,619 | 21,941 | 17,885 | 17,604 | 16,562 | 15,400 | 133,892 | 67,451 | 48,573 |
Income tax benefit | (157,065) | (75,497) | (69,993) | ||||||||
Net income | 24,126 | $ 77,693 | $ 74,406 | $ 22,979 | 51,291 | $ 52,168 | $ 41,300 | $ 26,132 | 199,204 | 170,891 | 159,649 |
Parent Company | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividend income from subsidiaries: | 158,210 | 117,479 | 95,443 | ||||||||
Interest income | 5,323 | 5,041 | 4,845 | ||||||||
Interest income | 100 | 2,799 | 1,053 | ||||||||
Total Income | 163,633 | 125,319 | 101,341 | ||||||||
Interest expense | 17,977 | 13,609 | 9,526 | ||||||||
Other expenses | 10,320 | 10,377 | 8,993 | ||||||||
Total Expenses | 28,297 | 23,986 | 18,519 | ||||||||
Income Before Taxes and Equity in Undistributed Income of Subsidiaries | 135,336 | 101,333 | 82,822 | ||||||||
Income tax benefit | 2,737 | 6,352 | 5,088 | ||||||||
Income after income taxes | 138,073 | 107,685 | 87,910 | ||||||||
Equity in undistributed income (loss) of subsidiaries: | 61,131 | 63,206 | 61,131 | 63,206 | 71,739 | ||||||
Net income | 199,204 | 170,891 | 159,649 | ||||||||
Parent Company | Bank [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividend income from subsidiaries: | 149,000 | 108,954 | 87,580 | ||||||||
Equity in undistributed income (loss) of subsidiaries: | 60,567 | 60,924 | 60,567 | 60,924 | 71,581 | ||||||
Parent Company | Non-Bank [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividend income from subsidiaries: | 9,210 | 8,525 | 7,863 | ||||||||
Equity in undistributed income (loss) of subsidiaries: | $ 564 | $ 2,282 | $ 564 | $ 2,282 | $ 158 |
Parent Company Financial Sta167
Parent Company Financial Statements - Statements of Cash Flows of Parent Company Only (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Activities | |||||||||||
Net income | $ 24,126 | $ 77,693 | $ 74,406 | $ 22,979 | $ 51,291 | $ 52,168 | $ 41,300 | $ 26,132 | $ 199,204 | $ 170,891 | $ 159,649 |
Other, net | (96,718) | 10,702 | (11,333) | ||||||||
Investing Activities | |||||||||||
Proceeds from sale of securities available for sale | 786,762 | 615,199 | 33,499 | ||||||||
Net cash received in business combinations | 196,964 | 245,762 | 144,629 | ||||||||
Financing Activities | |||||||||||
Decrease in long-term debt | (199,318) | (173,477) | (34,968) | ||||||||
Increase in long-term debt | 155,399 | 46,357 | 134,953 | ||||||||
Net proceeds from issuance of common stock | 11,181 | 18,472 | 12,731 | ||||||||
Tax benefit of stock-based compensation | 0 | 1,813 | 28 | ||||||||
Preferred stock | (8,041) | (8,041) | (8,041) | ||||||||
Common stock | (142,618) | (101,670) | (84,511) | ||||||||
Net (Decrease) Increase in Cash and Cash Equivalents | 108,036 | (117,712) | 201,726 | ||||||||
Cash and cash equivalents at beginning of year | 371,407 | 489,119 | 371,407 | 489,119 | 287,393 | ||||||
Cash and Cash Equivalents at End of Year | 479,443 | 371,407 | 479,443 | 371,407 | 489,119 | ||||||
Interest | 129,024 | 67,296 | 47,805 | ||||||||
Parent Company | |||||||||||
Operating Activities | |||||||||||
Net income | 199,204 | 170,891 | 159,649 | ||||||||
Undistributed earnings from subsidiaries | (61,131) | (63,206) | (61,131) | (63,206) | (71,739) | ||||||
Other, net | 5,441 | (2,530) | 680 | ||||||||
Net cash flows provided by operating activities | 143,514 | 105,155 | 88,590 | ||||||||
Investing Activities | |||||||||||
Proceeds from sale of securities available for sale | 0 | 815 | 0 | ||||||||
Net (increase) decrease in advances to subsidiaries | (9,838) | (6,263) | 3,285 | ||||||||
Payment for further investment in subsidiaries | (4,841) | (71,050) | (9,060) | ||||||||
Net cash received in business combinations | 3,173 | 1,089 | 0 | ||||||||
Net cash flows (used in) provided by investing activities | (11,506) | (75,409) | (5,775) | ||||||||
Financing Activities | |||||||||||
Net decrease in advance from affiliate | 10,018 | 6,356 | (2,797) | ||||||||
Net decrease in short-term borrowings | (179) | (44) | (135) | ||||||||
Decrease in long-term debt | (1,510) | (10,291) | (650) | ||||||||
Increase in long-term debt | 563 | 381 | 98,794 | ||||||||
Net proceeds from issuance of common stock | 11,181 | 18,472 | 12,731 | ||||||||
Tax benefit of stock-based compensation | 0 | 1,813 | 28 | ||||||||
Preferred stock | (8,041) | (8,041) | (8,041) | ||||||||
Common stock | (142,618) | (101,670) | (84,511) | ||||||||
Net cash flows (used in) provided by financing activities | (130,586) | (93,024) | 15,419 | ||||||||
Net (Decrease) Increase in Cash and Cash Equivalents | 1,422 | (63,278) | 98,234 | ||||||||
Cash and cash equivalents at beginning of year | $ 164,276 | $ 227,554 | 164,276 | 227,554 | 129,320 | ||||||
Cash and Cash Equivalents at End of Year | $ 165,698 | $ 164,276 | 165,698 | 164,276 | 227,554 | ||||||
Interest | $ 15,807 | $ 13,620 | $ 8,309 |
Quarterly Earnings Summary (168
Quarterly Earnings Summary (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Earnings Summary (Unaudited) [Abstract] | |||||||||||
Interest income | $ 271,085 | $ 263,514 | $ 251,034 | $ 194,693 | $ 177,168 | $ 175,110 | $ 170,931 | $ 155,754 | $ 980,326 | $ 678,963 | $ 546,795 |
Interest expense | 41,049 | 38,283 | 32,619 | 21,941 | 17,885 | 17,604 | 16,562 | 15,400 | 133,892 | 67,451 | 48,573 |
Net interest income | 230,036 | 225,231 | 218,415 | 172,752 | 159,283 | 157,506 | 154,369 | 140,354 | 846,434 | 611,512 | 498,222 |
Provision for credit losses | 16,699 | 16,768 | 16,756 | 10,850 | 12,705 | 14,639 | 16,640 | 11,768 | 61,073 | 55,752 | 40,441 |
Net securities gains | 21 | 2,777 | 493 | 2,625 | 116 | 299 | 226 | 71 | 5,916 | 712 | 822 |
Other non-interest income | 65,083 | 63,374 | 65,585 | 52,491 | 50,950 | 52,941 | 51,185 | 45,973 | 16,480 | 12,730 | 13,865 |
Total non-interest expense | 166,529 | 163,743 | 163,714 | 187,555 | 123,806 | 121,050 | 129,629 | 136,648 | 681,541 | 511,133 | 390,549 |
Net income | 24,126 | 77,693 | 74,406 | 22,979 | 51,291 | 52,168 | 41,300 | 26,132 | 199,204 | 170,891 | 159,649 |
Net income available to common stockholders | $ 22,115 | $ 75,683 | $ 72,396 | $ 20,969 | $ 49,280 | $ 50,158 | $ 39,290 | $ 24,122 | $ 191,163 | $ 162,850 | $ 151,608 |
Earnings per Common Share | |||||||||||
Basic (in usd per share) | $ 0.07 | $ 0.23 | $ 0.22 | $ 0.09 | $ 0.23 | $ 0.24 | $ 0.19 | $ 0.12 | $ 0.63 | $ 0.79 | $ 0.87 |
Diluted (in usd per share) | 0.07 | 0.23 | 0.22 | 0.09 | 0.23 | 0.24 | 0.19 | 0.12 | 0.63 | 0.78 | 0.86 |
Cash Dividends per Common Share (in usd per share) | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.48 | $ 0.48 | $ 0.48 |