Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 31, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | FNB | |
Entity Registrant Name | FNB CORP/PA/ | |
Entity Central Index Key | 37,808 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 324,258,342 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Assets | |||
Cash and due from banks | $ 398,641 | $ 408,718 | |
Interest bearing deposits with banks | 35,058 | 70,725 | |
Cash and Cash Equivalents | 433,699 | 479,443 | |
Securities available for sale | 3,002,787 | 2,764,562 | |
Debt securities held to maturity (fair value of $3,181,275 and $3,218,379) | 3,295,081 | 3,242,268 | |
Loans held for sale (includes $28,213 and $56,458 measured at fair value) (1) | [1] | 44,112 | 92,891 |
Loans and leases, net of unearned income of $39,202 and $50,680 | 21,659,582 | 20,998,766 | |
Allowance for credit losses | (176,574) | (175,380) | |
Net Loans and Leases | 21,483,008 | 20,823,386 | |
Premises and equipment, net | 324,659 | 336,540 | |
Goodwill | 2,251,349 | 2,249,188 | |
Core deposit and other intangible assets, net | 84,096 | 92,075 | |
Bank owned life insurance | 532,135 | 526,818 | |
Other assets | 806,637 | 810,464 | |
Total Assets | 32,257,563 | 31,417,635 | |
Liabilities | |||
Non-interest-bearing demand | 5,926,473 | 5,720,030 | |
Interest-bearing demand | 9,134,954 | 9,571,038 | |
Savings | 2,607,372 | 2,488,178 | |
Certificates and other time deposits | 4,870,988 | 4,620,479 | |
Total Deposits | 22,539,787 | 22,399,725 | |
Short-term borrowings | 4,334,146 | 3,678,337 | |
Long-term borrowings | 628,938 | 668,173 | |
Other liabilities | 281,450 | 262,206 | |
Total Liabilities | 27,784,321 | 27,008,441 | |
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 - 326,064,004 and 325,095,055 shares | 3,262 | 3,253 | |
Additional paid-in capital | 4,043,124 | 4,033,567 | |
Retained earnings | 457,326 | 367,658 | |
Accumulated other comprehensive loss | (115,885) | (83,052) | |
Treasury stock – 1,805,662 and 1,629,915 shares at cost | (21,467) | (19,114) | |
Total Stockholders’ Equity | 4,473,242 | 4,409,194 | |
Total Liabilities and Stockholders’ Equity | $ 32,257,563 | $ 31,417,635 | |
[1] | Amount represents loans for which we have elected the fair value option. See Note 18. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Statement of Financial Position [Abstract] | |||
Securities held to maturity, fair value | $ 3,181,275 | $ 3,218,379 | |
Loans held for sale, fair value | [1] | 28,213 | 56,458 |
Unearned income on loans | $ 39,202 | $ 50,680 | |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Preferred stock, liquidation preference per share (in dollars per share) | $ 1,000 | $ 1,000 | |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | |
Preferred stock, shares issued | 110,877 | 110,877 | |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Common stock, shares authorized | 500,000,000 | 500,000,000 | |
Common stock, shares issued | 326,064,004 | 325,095,055 | |
Treasury stock, shares | 1,805,662 | 1,629,915 | |
[1] | Amount represents loans for which we have elected the fair value option. See Note 18. |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest Income | ||||
Loans and leases, including fees | $ 257,895 | $ 221,091 | $ 496,989 | $ 389,720 |
Securities: | ||||
Taxable | 28,995 | 25,029 | 55,874 | 47,495 |
Tax-exempt | 6,960 | 4,677 | 13,554 | 8,078 |
Dividends | 0 | 76 | 0 | 85 |
Other | 267 | 161 | 627 | 349 |
Total Interest Income | 294,117 | 251,034 | 567,044 | 445,727 |
Interest Expense | ||||
Deposits | 31,049 | 16,753 | 57,518 | 28,493 |
Short-term borrowings | 18,409 | 10,959 | 33,616 | 17,633 |
Long-term borrowings | 5,304 | 4,907 | 10,450 | 8,434 |
Total Interest Expense | 54,762 | 32,619 | 101,584 | 54,560 |
Net Interest Income | 239,355 | 218,415 | 465,460 | 391,167 |
Provision for credit losses | 15,554 | 16,756 | 30,049 | 27,606 |
Net Interest Income After Provision for Credit Losses | 223,801 | 201,659 | 435,411 | 363,561 |
Non-Interest Income | ||||
Service charges | 31,114 | 32,090 | 61,191 | 56,671 |
Trust services | 6,469 | 5,715 | 12,917 | 11,462 |
Insurance commissions and fees | 4,567 | 4,347 | 9,702 | 9,488 |
Securities commissions and fees | 4,526 | 3,887 | 8,845 | 7,510 |
Capital markets income | 5,854 | 5,004 | 11,068 | 8,851 |
Mortgage banking operations | 5,940 | 5,173 | 11,469 | 8,963 |
Bank owned life insurance | 3,077 | 3,092 | 6,362 | 5,245 |
Net securities gains | 31 | 493 | 31 | 3,118 |
Other | 3,311 | 6,277 | 10,807 | 9,886 |
Total Non-Interest Income | 64,889 | 66,078 | 132,392 | 121,194 |
Non-Interest Expense | ||||
Salaries and employee benefits | 98,671 | 84,899 | 187,997 | 158,477 |
Net occupancy | 16,149 | 14,060 | 31,717 | 25,409 |
Equipment | 13,183 | 12,420 | 27,648 | 22,050 |
Amortization of intangibles | 3,811 | 4,813 | 8,029 | 7,911 |
Outside services | 17,045 | 13,483 | 31,770 | 26,526 |
FDIC insurance | 9,167 | 9,376 | 18,001 | 14,763 |
Bank shares and franchise taxes | 3,240 | 2,742 | 6,692 | 5,722 |
Merger-related | 0 | 1,354 | 0 | 54,078 |
Other | 21,747 | 20,567 | 42,242 | 36,333 |
Total Non-Interest Expense | 183,013 | 163,714 | 354,096 | 351,269 |
Income Before Income Taxes | 105,677 | 104,023 | 213,707 | 133,486 |
Income taxes | 20,471 | 29,617 | 41,739 | 36,101 |
Net Income | 85,206 | 74,406 | 171,968 | 97,385 |
Preferred stock dividends | 2,010 | 2,010 | 4,020 | 4,020 |
Net Income Available to Common Stockholders | $ 83,196 | $ 72,396 | $ 167,948 | $ 93,365 |
Earnings per Common Share | ||||
Basic (in USD per share) | $ 0.26 | $ 0.22 | $ 0.52 | $ 0.33 |
Diluted (in USD per share) | 0.26 | 0.22 | 0.52 | 0.33 |
Cash Dividends per Common Share (in USD per share) | $ 0.12 | $ 0.12 | $ 0.24 | $ 0.24 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 85,206 | $ 74,406 | $ 171,968 | $ 97,385 |
Securities available for sale: | ||||
Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(2,523), $403, $(10,990) and $3,779 | (8,873) | 720 | (38,660) | 6,739 |
Reclassification adjustment for (gains) losses included in net income, net of tax expense (benefit) of $7, $(427), $7 and $8 | (24) | 761 | (24) | (14) |
Derivative instruments: | ||||
Unrealized gains (losses) arising during the period, net of tax expense (benefit) of $511, $(766), $1,593 and $(1,341) | 1,796 | (1,365) | 5,600 | (2,390) |
Reclassification adjustment for gains included in net income, net of tax expense of $156, $(40), $205 and $89 | (548) | 70 | (721) | (159) |
Pension and postretirement benefit obligations: | ||||
Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $138, $224, $274 and $452 | 488 | 400 | 972 | 810 |
Other comprehensive (loss) income | (7,161) | 586 | (32,833) | 4,986 |
Comprehensive income | $ 78,045 | $ 74,992 | $ 139,135 | $ 102,371 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized gains arising during the period, tax expense | $ (2,523) | $ 403 | $ (10,990) | $ 3,779 |
Reclassification adjustment for gains included in net income, tax expense | 7 | (427) | 7 | 8 |
Unrealized (losses) gains arising during the period, tax (benefit) expense | 511 | (766) | 1,593 | (1,341) |
Reclassification adjustment for gains included in net income, tax expense | 156 | (40) | 205 | 89 |
Unrealized gains arising during the period, tax expense | $ 138 | $ 224 | $ 274 | $ 452 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Balance at beginning 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 | 102,371 | 97,385 | 4,986 | ||||
Dividends declared: | |||||||
Preferred stock | (4,020) | (4,020) | |||||
Common stock: $0.24/share | (64,561) | (64,561) | |||||
Issuance of common stock | (256) | 9 | 4,039 | (4,304) | |||
Issuance of common stock - acquisitions | 1,781,935 | 1,116 | 1,780,819 | ||||
Assumption of warrant due to acquisition | 1,394 | 1,394 | |||||
Restricted stock compensation | 3,958 | 3,958 | |||||
Balance at end of period at Jun. 30, 2017 | 4,392,438 | 106,882 | 3,250 | 4,024,576 | 333,201 | (56,383) | (19,088) |
Balance at beginning of period at Dec. 31, 2017 | 4,409,194 | 106,882 | 3,253 | 4,033,567 | 367,658 | (83,052) | (19,114) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Comprehensive income | 139,135 | 171,968 | (32,833) | ||||
Dividends declared: | |||||||
Preferred stock | (4,020) | (4,020) | |||||
Common stock: $0.24/share | (78,280) | (78,280) | |||||
Issuance of common stock | 2,514 | 9 | 4,858 | (2,353) | |||
Restricted stock compensation | 4,699 | 4,699 | |||||
Balance at end of period at Jun. 30, 2018 | $ 4,473,242 | $ 106,882 | $ 3,262 | $ 4,043,124 | $ 457,326 | $ (115,885) | $ (21,467) |
Consolidated Statements of Sto8
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||||
Common stock dividends per share (in USD per share) | $ 0.12 | $ 0.12 | $ 0.24 | $ 0.24 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Operating Activities | ||
Net income | $ 171,968 | $ 97,385 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
Depreciation, amortization and accretion | 57,388 | 36,392 |
Provision for credit losses | 30,049 | 27,606 |
Deferred tax expense | 15,541 | 21,226 |
Net securities gains | (31) | (3,118) |
Tax benefit of stock-based compensation | (357) | (724) |
Loans originated for sale | (529,376) | (519,973) |
Loans sold | 589,823 | 380,522 |
Gain on sale of loans | (11,668) | (4,716) |
Net change in: | ||
Interest receivable | 1,044 | (462) |
Interest payable | 2,658 | 58 |
Bank owned life insurance | (5,367) | (5,063) |
Other, net | 27,613 | (114,988) |
Net cash flows provided by (used in) operating activities | 349,285 | (85,855) |
Investing Activities | ||
Net change in loans and leases | (719,659) | (582,236) |
Securities available for sale: | ||
Purchases | (581,769) | (592,601) |
Sales | 0 | 755,866 |
Maturities | 288,337 | 247,930 |
Debt securities held to maturity: | ||
Purchases | (224,229) | (782,281) |
Sales | 0 | 1,574 |
Maturities | 168,333 | 214,739 |
Increase in premises and equipment | (10,333) | (34,832) |
Net cash received in business combinations | 0 | 196,964 |
Other, net | (32) | (5,805) |
Net cash flows used in investing activities | (1,079,352) | (580,682) |
Financing Activities | ||
Demand (non-interest bearing and interest bearing) and savings accounts | (110,447) | (45,049) |
Time deposits | 252,901 | (143,154) |
Short-term borrowings | 655,809 | 1,126,769 |
Proceeds from issuance of long-term borrowings | 17,490 | 77,223 |
Repayment of long-term borrowings | (56,343) | (133,162) |
Net proceeds from issuance of common stock | 7,213 | 3,702 |
Cash dividends paid: | ||
Preferred stock | (4,020) | (4,020) |
Common stock | (78,280) | (64,561) |
Net cash flows provided by financing activities | 684,323 | 817,748 |
Net Increase (Decrease) in Cash and Cash Equivalents | (45,744) | 151,211 |
Cash and cash equivalents at beginning of period | 479,443 | 371,407 |
Cash and Cash Equivalents at End of Period | $ 433,699 | $ 522,618 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | NATURE OF OPERATIONS F.N.B. Corporation, headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in eight states. Through FNBPA, we have over 150 years of serving the financial and banking needs of our customers. We hold a significant retail deposit market share in attractive 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 June 30, 2018 , we had 404 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, 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, which had 77 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee as of June 30, 2018 . |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2018 | |
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, 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. 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 June 30, 2018 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. Certain information and Note disclosures normally included in Consolidated Financial Statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The interim operating results are not necessarily indicative of operating results FNB expects for the full year. These interim unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto included in FNB’s 2017 Annual Report on Form 10-K filed with the SEC on February 28, 2018 . For a detailed description of our significant accounting policies, see Note 1 "Summary of Significant Accounting Policies" in the 2017 Form 10-K. The accounting policies presented below have been added or amended for newly material items or the adoption of new accounting standards. 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, income taxes and deferred tax assets and litigation. Revenue from Contracts with Customers We earn certain revenues from contracts with customers. These revenues are recognized when control of the promised services is transferred to the customers in an amount that reflects the consideration we expect to be entitled to in an exchange for those services. In determining the appropriate revenue recognition for our contracts with customers, we consider whether the contract has commercial substance and is approved by both parties with identifiable contractual rights, payment terms, and the collectability of consideration is probable. Generally, we satisfy our performance obligations upon the completion of services at the amount to which we have the right to invoice or charge under contracts with an original expected duration of one year or less. We apply this guidance on a portfolio basis to contracts with similar characteristics and for which we believe the results would not differ materially from applying this guidance to individual contracts. Our services provided under contracts with customers are transferred at the point in time when the services are rendered. Generally, we do not defer incremental direct costs to obtain contracts with customers that would be amortized in one year or less under the practical expedient. These costs are recognized as expense, primarily salary and benefit expense, in the period incurred. Deposit Services . We recognize revenue on deposit services based on published fees for services provided. Demand and savings deposit customers have the right to cancel their depository arrangements and withdraw their deposited funds at any time without prior notice. When services involve deposited funds that can be retrieved by customers without penalties, we consider the service contract term to be day-to-day, where each day represents the renewal of the contract. The contract does not extend beyond the services performed and revenue is recognized at the end of the contract term (daily) as the performance obligation is satisfied. No deposit services fees exist for long-term deposit products beyond early withdrawal penalties, which are earned on these products at the time of early termination. Revenue from deposit services fees are reduced where we have a history of waived or reduced fees by customer request or due to a customer service issue, by historical experience, or another acceptable method in the same period as the related revenues. Revenues from deposit services are reported in the Consolidated Statements of Income as service charges and in the Community Banking segment as non-interest income. Wealth Management Services. Wealth advisory and trust services are provided on a month-to-month basis and invoiced as services are rendered. Fees are based on a fixed amount or a scale based on the level of services provided or assets under management. The customer has the right to terminate their services agreement at any time. We determine the value of services performed based on the fee schedule in effect at the time the services are performed. Revenues from wealth advisory and trust services are reported in the Consolidated Statements of Income as trust services and securities commissions and fees, and in the Wealth segment as non-interest income. Insurance Services. Insurance services include full-service insurance brokerage services offering numerous lines of commercial and personal insurance through major carriers to businesses and individuals within our geographic markets. We recognize revenue on insurance contracts in effect based on contractually specified commission payments on premiums that are paid by the customer to the insurance carrier. Contracts are cancellable at any time and we have no performance obligation to the customers beyond the time the insurance is placed into effect. Revenues from insurance services are reported in the Consolidated Statements of Income as insurance commissions and fees, and in the Insurance segment as non-interest income. Debt Securities Debt securities comprise a significant portion of our Consolidated Balance Sheets. Such securities can be classified as trading, HTM or AFS. As of June 30, 2018 and 2017 , we did not hold any trading debt securities. Debt securities HTM are the securities that 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 OTTI. Debt securities that are not classified as trading or HTM are classified as AFS. 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 debt 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. Low Income Housing Tax Credit (LIHTC) Partnerships We invest in various affordable housing projects that qualify for 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 $27.3 million and $20.9 million at June 30, 2018 and December 31, 2017 , respectively. Our unfunded commitments in LIHTCs were $57.0 million and $67.2 million at June 30, 2018 and December 31, 2017 , respectively. |
NEW ACCOUNTING STANDARDS
NEW ACCOUNTING STANDARDS | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
NEW ACCOUNTING STANDARDS | NEW ACCOUNTING STANDARDS The following table summarizes accounting pronouncements issued by the Financial Accounting Standards Board that we recently adopted or will be adopting in the future. Standard Description Required Date of Adoption Financial Statements Impact Derivative and Hedging Activities ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities This Update improves the financial reporting of hedging to better align with a company’s risk management activities. In addition, this Update makes certain targeted improvements to simplify the application of the current hedge accounting guidance. January 1, 2019 Early adoption is permitted. This Update is to be applied using a modified retrospective method. The presentation and disclosure guidance are applied prospectively. We are currently assessing the potential impact to our Consolidated Financial Statements. Securities ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities This Update 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. January 1, 2019 Early adoption is permitted. This Update is to be applied using a modified retrospective transition method. The adoption of this Update is not expected to have a material effect on our Consolidated Financial Statements. Standard Description Required Date of Adoption Financial Statements Impact Retirement Benefits ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This Update 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. January 1, 2018 We adopted this Update in the first quarter of 2018 by a retrospective transition method. The adoption of this Update 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) This Update adds or clarifies guidance on eight cash flow issues. January 1, 2018 We adopted this Update in the first quarter of 2018 by retrospective application. The adoption of this Update did not 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 This Update 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, HTM 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 AFS debt security impairment model and eliminate the current accounting for purchased credit impaired loans and debt securities. January 1, 2020 Early adoption is permitted for fiscal years beginning after December 15, 2018 This Update is to be applied using a cumulative-effect adjustment to retained earnings. The CECL model is a significant change from existing GAAP and may result in a material change to our accounting for financial instruments and regulatory capital. We have created a cross-functional steering committee to govern implementation as we continue to review and enhance our business processes, information systems and controls to support recognition and disclosures under this Update including designing and building the models that will be used to calculate the expected credit losses. The impact of this Update will be dependent on the portfolio composition, credit quality and forecasts of economic conditions at the time of adoption. 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) This Update requires entities that sell prepaid stored-value products redeemable for goods, services or cash at third-party merchants to recognize breakage. January 1, 2018 We adopted this Update in the first quarter of 2018. The adoption of this Update did not have a material effect on our Consolidated Financial Statements. Standard Description Required Date of Adoption Financial Statements Impact Leases ASU 2016-02, Leases (Topic 842) ASU 2018-10, Codification Improvements to Topic 842, Leases ASU 2018-11, Leases (Topic 842), Targeted Improvements These Updates require 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. January 1, 2019 Early adoption is permitted. These Updates are to be applied using a modified retrospective application including a number of optional practical expedients. We are in the process of classifying our existing lease portfolios, implementing a software solution, and assessing the potential impact to our Consolidated Financial Statements. We do not believe this update will materially impact our consolidated net income. Financial Instruments – Recognition and Measurement ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities This Update amends the presentation and accounting for certain financial instruments, including liabilities measured at fair value under the FVO, and equity investments. The guidance also updates fair value presentation and disclosure requirements for financial instruments measured at amortized cost. January 1, 2018 We adopted this Update in the first quarter of 2018 by a cumulative-effect adjustment. The adoption of this Update did not have a material effect on our Consolidated Financial Statements. During the first quarter of 2018, we transferred marketable equity securities totaling $1.1 million from securities AFS to other assets. Revenue Recognition ASU 2014-09, Revenue from Contracts with Customers (Topic 606) This Update 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. January 1, 2018 We adopted this Update in the first quarter of 2018 under the modified retrospective method. The adoption of this Update did not have a material effect on our Consolidated Financial Statements. |
MERGERS AND ACQUISITIONS
MERGERS AND ACQUISITIONS | 6 Months Ended |
Jun. 30, 2018 | |
Business Combinations [Abstract] | |
MERGERS AND ACQUISITIONS | MERGERS AND ACQUISITIONS Yadkin Financial Corporation On March 11, 2017, we completed our acquisition of YDKN, a bank holding company based in Raleigh, North Carolina. YDKN’s banking affiliate, Yadkin Bank, was 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 of 2017. 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 our 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 UST under the Capital Purchase Program. 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 estimated fair value on the acquisition date. The determination of estimated 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. Any adjustments to fair values and related adjustments to goodwill were recorded within the 12-month period. |
SECURITIES
SECURITIES | 6 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES | SECURITIES The amortized cost and fair value of securities are as follows: (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale: June 30, 2018 U.S. government agencies $ 96,085 $ — $ (559 ) $ 95,526 U.S. government-sponsored entities 312,903 — (5,969 ) 306,934 Residential mortgage-backed securities: Agency mortgage-backed securities 1,626,353 390 (49,147 ) 1,577,596 Agency collateralized mortgage obligations 863,976 29 (32,188 ) 831,817 Non-agency collateralized mortgage obligations — — — — Commercial mortgage-backed securities 168,466 154 (296 ) 168,324 States of the U.S. and political subdivisions 20,795 2 (62 ) 20,735 Other debt securities 1,949 — (94 ) 1,855 Total debt securities available for sale $ 3,090,527 $ 575 $ (88,315 ) $ 3,002,787 December 31, 2017 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 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 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt Securities Held to Maturity: June 30, 2018 U.S. Treasury $ 500 $ 107 $ — $ 607 U.S. government agencies 2,056 60 — 2,116 U.S. government-sponsored entities 245,017 — (6,030 ) 238,987 Residential mortgage-backed securities: Agency mortgage-backed securities 1,125,947 295 (33,439 ) 1,092,803 Agency collateralized mortgage obligations 840,073 768 (34,063 ) 806,778 Commercial mortgage-backed securities 79,124 7 (1,555 ) 77,576 States of the U.S. and political subdivisions 1,002,364 1,626 (41,582 ) 962,408 Total debt securities held to maturity $ 3,295,081 $ 2,863 $ (116,669 ) $ 3,181,275 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 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 debt securities held to maturity $ 3,242,268 $ 17,357 $ (41,246 ) $ 3,218,379 Gross gains and gross losses were realized on securities as follows: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Gross gains $ 31 $ 611 $ 31 $ 4,011 Gross losses — (118 ) — (893 ) Net gains $ 31 $ 493 $ 31 $ 3,118 As of June 30, 2018 , the amortized cost and fair value of debt 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 $ 65,485 $ 65,271 $ 55,457 $ 55,236 Due from one to five years 262,288 256,488 201,924 196,157 Due from five to ten years 19,860 19,709 95,166 94,334 Due after ten years 84,099 83,582 897,390 858,391 431,732 425,050 1,249,937 1,204,118 Residential mortgage-backed securities: Agency mortgage-backed securities 1,626,353 1,577,596 1,125,947 1,092,803 Agency collateralized mortgage obligations 863,976 831,817 840,073 806,778 Commercial mortgage-backed securities 168,466 168,324 79,124 77,576 Total debt securities $ 3,090,527 $ 3,002,787 $ 3,295,081 $ 3,181,275 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: (dollars in thousands) June 30, December 31, Securities pledged (carrying value): To secure public deposits, trust deposits and for other purposes as required by law $ 3,370,601 $ 3,491,634 As collateral for short-term borrowings 261,140 263,756 Securities pledged as a percent of total securities 57.7 % 62.5 % Following are summaries of the fair values and unrealized losses of temporarily impaired debt 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 Debt Securities Available for Sale June 30, 2018 U.S. government agencies 13 $ 95,526 $ (559 ) — $ — $ — 13 $ 95,526 $ (559 ) U.S. government-sponsored entities 5 106,668 (1,236 ) 10 200,266 (4,733 ) 15 306,934 (5,969 ) Residential mortgage-backed securities: Agency mortgage-backed securities 59 1,145,743 (30,600 ) 28 418,672 (18,547 ) 87 1,564,415 (49,147 ) Agency collateralized mortgage obligations 17 491,313 (16,023 ) 33 292,579 (16,165 ) 50 783,892 (32,188 ) Commercial mortgage-backed securities 2 74,167 (296 ) — — — 2 74,167 (296 ) States of the U.S. and political subdivisions 7 11,476 (55 ) 1 877 (7 ) 8 12,353 (62 ) Other debt securities — — — 3 1,855 (94 ) 3 1,855 (94 ) Total temporarily impaired debt securities AFS 103 $ 1,924,893 $ (48,769 ) 75 $ 914,249 $ (39,546 ) 178 $ 2,839,142 $ (88,315 ) 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 ) 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 ) Total temporarily impaired debt securities AFS 71 $ 1,503,806 $ (14,372 ) 75 $ 1,016,111 $ (25,408 ) 146 $ 2,519,917 $ (39,780 ) Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Value Unrealized Losses # Fair Value Unrealized Losses # Fair Value Unrealized Losses Debt Securities Held to Maturity June 30, 2018 U.S. government-sponsored entities 4 $ 54,509 $ (508 ) 10 $ 184,478 $ (5,522 ) 14 $ 238,987 $ (6,030 ) Residential mortgage-backed securities: Agency mortgage-backed securities 80 909,762 (25,390 ) 11 164,501 (8,049 ) 91 1,074,263 (33,439 ) Agency collateralized mortgage obligations 17 299,575 (8,104 ) 35 420,914 (25,959 ) 52 720,489 (34,063 ) Commercial mortgage-backed securities 8 54,920 (884 ) 4 21,531 (671 ) 12 76,451 (1,555 ) States of the U.S. and political subdivisions 174 616,117 (24,296 ) 37 110,429 (17,286 ) 211 726,546 (41,582 ) Total temporarily impaired debt securities HTM 283 $ 1,934,883 $ (59,182 ) 97 $ 901,853 $ (57,487 ) 380 $ 2,836,736 $ (116,669 ) 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 ) 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 debt securities HTM 73 $ 1,061,703 $ (7,851 ) 95 $ 984,076 $ (33,395 ) 168 $ 2,045,779 $ (41,246 ) 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. We did not recognize any OTTI losses on securities for the six months ended June 30, 2018 or 2017 . States of the U.S. and Political Subdivisions Our municipal bond portfolio with a carrying amount of $1.0 billion as of June 30, 2018 is highly rated with an average entity-specific rating of AA and 100% of the portfolio rated A or better. All of the securities in the municipal portfolio except one 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 $3.1 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. |
LOANS AND LEASES
LOANS AND LEASES | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018 Commercial real estate $ 5,754,367 $ 3,079,955 $ 8,834,322 Commercial and industrial 3,797,773 503,614 4,301,387 Commercial leases 337,397 — 337,397 Other 43,351 — 43,351 Total commercial loans and leases 9,932,888 3,583,569 13,516,457 Direct installment 1,772,090 119,990 1,892,080 Residential mortgages 2,297,558 553,412 2,850,970 Indirect installment 1,746,352 157 1,746,509 Consumer lines of credit 1,136,293 517,273 1,653,566 Total consumer loans 6,952,293 1,190,832 8,143,125 Total loans and leases, net of unearned income $ 16,885,181 $ 4,774,401 $ 21,659,582 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 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 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 following table shows certain information relating to commercial real estate loans: (dollars in thousands) June 30, December 31, Commercial construction, acquisition and development loans $ 1,176,326 $ 1,170,175 Percent of total loans and leases 5.4 % 5.6 % Commercial real estate: Percent owner-occupied 35.0 % 35.3 % Percent non-owner-occupied 65.0 % 64.7 % Acquired Loans All acquired loans were initially recorded at fair value at the acquisition date. Refer to the Acquired Loans section in Note 1 of our 2017 Annual Report on Form 10-K 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: (in thousands) June 30, December 31, Accounted for under ASC 310-30: Outstanding balance $ 4,387,378 $ 5,176,015 Carrying amount 4,101,583 4,834,256 Accounted for under ASC 310-20: Outstanding balance 688,541 835,130 Carrying amount 668,859 812,322 Total acquired loans: Outstanding balance 5,075,919 6,011,145 Carrying amount 4,770,442 5,646,578 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 $1.7 million at June 30, 2018 and $1.9 million at December 31, 2017 , representing 0.04% and 0.03% , respectively, 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. Six Months Ended (in thousands) 2018 2017 Balance at beginning of period $ 708,481 $ 467,070 Acquisitions — 444,715 Reduction due to unexpected early payoffs (94,456 ) (61,093 ) Reclass from non-accretable difference 128,955 40,304 Disposals/transfers (408 ) (324 ) Other (1,619 ) — Accretion (116,006 ) (100,628 ) Balance at end of period $ 624,947 $ 790,044 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 the six months ended June 30, 2018 , there was an overall improvement in cash flow expectations which resulted in a net reclassification of $129.0 million from the non-accretable difference to accretable yield. This reclassification was $40.3 million for the six months ended June 30, 2017 . The reclassification from the non-accretable difference to the accretable yield results in prospective yield adjustments on the loan pools and was also positively impacted by the sale of $56.5 million of acquired residential mortgage loans in the second quarter of 2018. 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 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 and leases 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. The majority of 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: (dollars in thousands) June 30, December 31, Non-accrual loans $ 68,696 $ 74,635 Troubled debt restructurings 24,820 23,481 Total non-performing loans 93,516 98,116 Other real estate owned 39,240 40,606 Total non-performing assets $ 132,756 $ 138,722 Asset quality ratios: Non-performing loans / total loans and leases 0.43 % 0.47 % Non-performing loans + OREO / total loans and leases + OREO 0.61 % 0.66 % Non-performing assets / total assets 0.41 % 0.44 % The carrying value of residential other real estate owned 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 $6.0 million at June 30, 2018 and $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 June 30, 2018 and December 31, 2017 totaled $12.5 million and $15.2 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 (4) Current Total Loans and Leases Originated Loans and Leases June 30, 2018 Commercial real estate $ 10,476 $ 2 $ 14,652 $ 25,130 $ 5,729,237 $ 5,754,367 Commercial and industrial 5,663 3 23,367 29,033 3,768,740 3,797,773 Commercial leases 861 — 1,218 2,079 335,318 337,397 Other 163 204 1,000 1,367 41,984 43,351 Total commercial loans and leases 17,163 209 40,237 57,609 9,875,279 9,932,888 Direct installment 9,317 4,028 7,402 20,747 1,751,343 1,772,090 Residential mortgages 10,046 1,596 6,882 18,524 2,279,034 2,297,558 Indirect installment 7,592 355 2,152 10,099 1,736,253 1,746,352 Consumer lines of credit 4,187 1,039 3,280 8,506 1,127,787 1,136,293 Total consumer loans 31,142 7,018 19,716 57,876 6,894,417 6,952,293 Total originated loans and leases $ 48,305 $ 7,227 $ 59,953 $ 115,485 $ 16,769,696 $ 16,885,181 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 (in thousands) 30-89 Days Past Due > 90 Days Past Due and Still Accruing Non- Accrual Total Past Due (1) (2) (3) Current (Discount) Premium Total Loans Acquired Loans June 30, 2018 Commercial real estate $ 20,622 $ 53,440 $ 3,231 $ 77,293 $ 3,181,557 $ (178,895 ) $ 3,079,955 Commercial and industrial 1,620 3,498 4,347 9,465 526,830 (32,681 ) 503,614 Total commercial loans 22,242 56,938 7,578 86,758 3,708,387 (211,576 ) 3,583,569 Direct installment 3,766 1,131 — 4,897 115,496 (403 ) 119,990 Residential mortgages 10,424 7,697 — 18,121 552,387 (17,096 ) 553,412 Indirect installment — 1 — 1 1 155 157 Consumer lines of credit 7,042 2,122 1,165 10,329 518,027 (11,083 ) 517,273 Total consumer loans 21,232 10,951 1,165 33,348 1,185,911 (28,427 ) 1,190,832 Total acquired loans $ 43,474 $ 67,889 $ 8,743 $ 120,106 $ 4,894,298 $ (240,003 ) $ 4,774,401 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 (1) Past due information for acquired loans is based on the contractual balance outstanding at June 30, 2018 and December 31, 2017 . (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. (3) Approximately $28.5 million of acquired past-due or non-accrual loans were sold during the second quarter of 2018. (4) Approximately $14.7 million of originated past-due or non-accrual loans were sold during the second quarter of 2018. 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 June 30, 2018 Commercial real estate $ 5,499,238 $ 131,806 $ 123,297 $ 26 $ 5,754,367 Commercial and industrial 3,537,536 176,599 79,246 4,392 3,797,773 Commercial leases 326,574 2,274 8,549 — 337,397 Other 42,037 110 1,204 — 43,351 Total originated commercial loans and leases $ 9,405,385 $ 310,789 $ 212,296 $ 4,418 $ 9,932,888 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 Acquired Loans June 30, 2018 Commercial real estate $ 2,661,433 $ 200,723 $ 217,626 $ 173 $ 3,079,955 Commercial and industrial 434,731 26,981 41,902 — 503,614 Total acquired commercial loans $ 3,096,164 $ 227,704 $ 259,528 $ 173 $ 3,583,569 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 Credit quality information for acquired loans is based on the contractual balance outstanding at June 30, 2018 and December 31, 2017 . 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, Fair Isaac Corporation (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 June 30, 2018 Direct installment $ 1,756,297 $ 15,793 $ 1,772,090 Residential mortgages 2,279,790 17,768 2,297,558 Indirect installment 1,744,007 2,345 1,746,352 Consumer lines of credit 1,131,322 4,971 1,136,293 Total originated consumer loans $ 6,911,416 $ 40,877 $ 6,952,293 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 Acquired loans June 30, 2018 Direct installment $ 119,921 $ 69 $ 119,990 Residential mortgages 553,412 — 553,412 Indirect installment 157 — 157 Consumer lines of credit 515,659 1,614 517,273 Total acquired consumer loans $ 1,189,149 $ 1,683 $ 1,190,832 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 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 $0.5 million based on loan and lease segment loss given default. For commercial loan and lease relationships greater than or equal to $0.5 million , 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 Six Months Ended June 30, 2018 Commercial real estate $ 16,428 $ 14,308 $ 201 $ 14,509 $ 26 $ 20,912 Commercial and industrial 28,738 13,020 10,787 23,807 4,392 23,688 Commercial leases 1,218 1,218 — 1,218 — 1,309 Other — — — — — — Total commercial loans and leases 46,384 28,546 10,988 39,534 4,418 45,909 Direct installment 18,603 15,793 — 15,793 — 15,693 Residential mortgages 19,180 17,768 — 17,768 — 16,973 Indirect installment 4,579 2,345 — 2,345 — 2,387 Consumer lines of credit 6,735 4,971 — 4,971 — 4,741 Total consumer loans 49,097 40,877 — 40,877 — 39,794 Total $ 95,481 $ 69,423 $ 10,988 $ 80,411 $ 4,418 $ 85,703 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 Interest income continued to accrue on certain impaired loans and totaled approximately $3.1 million and $2.6 million for the six months ended June 30, 2018 and 2017 , 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: (in thousands) June 30, December 31, Commercial real estate $ 2,892 $ 4,976 Commercial and industrial 78 (415 ) Total commercial loans 2,970 4,561 Direct installment 562 1,553 Residential mortgages 191 484 Indirect installment 250 177 Consumer lines of credit (14 ) (77 ) Total consumer loans 989 2,137 Total allowance on acquired loans $ 3,959 $ 6,698 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 June 30, 2018 Accruing: Performing $ 19,352 $ 168 $ 19,520 Non-performing 21,689 3,131 24,820 Non-accrual 9,323 51 9,374 Total TDRs $ 50,364 $ 3,350 $ 53,714 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 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 the six months ended June 30, 2018 , we returned to performing status $2.2 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 six 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 $0.5 million 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 individually impaired loans under $0.5 million 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: (in thousands) June 30, December 31, Specific reserves for commercial TDRs $ 14 $ 95 Pooled reserves for individual commercial loans 529 469 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 $4.2 million for June 30, 2018 and $4.0 million for December 31, 2017 . Upon default of an individual loan, our charge-off policy is followed accordingly for that class of loan. Following is a summary of TDR loans, by class: Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 (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 1 $ 125 $ 122 1 $ 125 $ 122 Commercial and industrial 13 862 780 13 2,524 1,384 Total commercial loans 14 987 902 14 2,649 1,506 Direct installment 178 2,372 2,276 357 3,404 3,209 Residential mortgages 8 304 298 19 807 799 Indirect installment 7 11 11 16 24 23 Consumer lines of credit 22 382 298 41 709 513 Total consumer loans 215 3,069 2,883 433 4,944 4,544 Total 229 $ 4,056 $ 3,785 447 $ 7,593 $ 6,050 Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 (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 1 $ 463 $ 463 2 $ 595 $ 566 Commercial and industrial 2 4,038 4,204 2 3,542 4,204 Total commercial loans 3 4,501 4,667 4 4,137 4,770 Direct installment 162 1,448 1,301 333 2,951 2,688 Residential mortgages 9 405 345 16 570 497 Indirect installment 4 15 14 9 31 27 Consumer lines of credit 21 311 208 43 1,054 905 Total consumer loans 196 2,179 1,868 401 4,606 4,117 Total 199 $ 6,680 $ 6,535 405 $ 8,743 $ 8,887 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. Three Months Ended Six Months Ended (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Direct installment 41 $ 202 78 $ 304 Residential mortgages 3 146 6 293 Indirect installment 5 10 9 15 Consumer lines of credit 2 56 3 252 Total consumer loans 51 414 96 864 Total 51 $ 414 96 $ 864 Three Months Ended Six Months Ended (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial and industrial 2 $ 312 3 $ 326 Total commercial loans 2 312 3 326 Direct installment 31 134 55 146 Residential mortgages 1 80 4 264 Indirect installment 6 19 10 19 Consumer lines of credit 1 63 1 63 Total consumer loans 39 296 70 492 Total 41 $ 608 73 $ 818 |
ALLOWANCE FOR CREDIT LOSSES
ALLOWANCE FOR CREDIT LOSSES | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
ALLOWANCE FOR CREDIT LOSSES | ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses addresses credit losses inherent in the existing loan and lease portfolio and is presented as a reserve against loans and leases on the Consolidated Balance Sheets. Loan and lease losses are charged off against the allowance for credit losses, with recoveries of amounts previously charged off credited to the allowance for credit losses. Provisions for credit losses are charged to operations based on management’s periodic evaluation of the appropriate level of the 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 Period Charge- Offs Recoveries Net Charge- Offs Provision for Credit Losses Balance at End of Period Three Months Ended June 30, 2018 Commercial real estate $ 53,516 $ (4,254 ) $ 765 $ (3,489 ) $ 560 $ 50,587 Commercial and industrial 53,013 (6,127 ) 1,157 (4,970 ) 5,646 53,689 Commercial leases 6,115 (36 ) 14 (22 ) 946 7,039 Other 1,995 (1,578 ) 272 (1,306 ) 1,307 1,996 Total commercial loans and leases 114,639 (11,995 ) 2,208 (9,787 ) 8,459 113,311 Direct installment 20,128 (2,922 ) 463 (2,459 ) 2,610 20,279 Residential mortgages 15,280 (314 ) 16 (298 ) 181 15,163 Indirect installment 11,955 (2,218 ) 974 (1,244 ) 2,690 13,401 Consumer lines of credit 10,408 (1,105 ) 62 (1,043 ) 1,096 10,461 Total consumer loans 57,771 (6,559 ) 1,515 (5,044 ) 6,577 59,304 Total allowance on originated loans and leases 172,410 (18,554 ) 3,723 (14,831 ) 15,036 172,615 Purchased credit-impaired loans 622 — — — 2 624 Other acquired loans 6,215 (4,076 ) 680 (3,396 ) 516 3,335 Total allowance on acquired loans 6,837 (4,076 ) 680 (3,396 ) 518 3,959 Total allowance $ 179,247 $ (22,630 ) $ 4,403 $ (18,227 ) $ 15,554 $ 176,574 Six Months Ended June 30, 2018 Commercial real estate $ 50,281 $ (4,479 ) $ 1,102 $ (3,377 ) $ 3,683 $ 50,587 Commercial and industrial 51,963 (12,047 ) 1,526 (10,521 ) 12,247 53,689 Commercial leases 5,646 (207 ) 24 (183 ) 1,576 7,039 Other 1,843 (2,375 ) 569 (1,806 ) 1,959 1,996 Total commercial loans and leases 109,733 (19,108 ) 3,221 (15,887 ) 19,465 113,311 Direct installment 20,936 (6,392 ) 903 (5,489 ) 4,832 20,279 Residential mortgages 15,507 (393 ) 107 (286 ) (58 ) 15,163 Indirect installment 11,967 (4,627 ) 1,869 (2,758 ) 4,192 13,401 Consumer lines of credit 10,539 (1,636 ) 183 (1,453 ) 1,375 10,461 Total consumer loans 58,949 (13,048 ) 3,062 (9,986 ) 10,341 59,304 Total allowance on originated loans and leases 168,682 (32,156 ) 6,283 (25,873 ) 29,806 172,615 Purchased credit-impaired loans 635 — — — (11 ) 624 Other acquired loans 6,063 (4,385 ) 1,403 (2,982 ) 254 3,335 Total allowance on acquired loans 6,698 (4,385 ) 1,403 (2,982 ) 243 3,959 Total allowance for credit losses $ 175,380 $ (36,541 ) $ 7,686 $ (28,855 ) $ 30,049 $ 176,574 (in thousands) Balance at Beginning of Period Charge- Offs Recoveries Net Charge- Offs Provision for Credit Losses Balance at End of Period Three Months Ended June 30, 2017 Commercial real estate $ 46,389 $ (318 ) $ 505 $ 187 $ 382 $ 46,958 Commercial and industrial 53,570 (7,736 ) 183 (7,553 ) 8,091 54,108 Commercial leases 3,513 (208 ) 3 (205 ) 814 4,122 Other 1,809 (821 ) 353 (468 ) 497 1,838 Total commercial loans and leases 105,281 (9,083 ) 1,044 (8,039 ) 9,784 107,026 Direct installment 20,210 (3,245 ) 581 (2,664 ) 3,190 20,736 Residential mortgages 10,210 (182 ) 10 (172 ) 1,214 11,252 Indirect installment 9,630 (1,966 ) 614 (1,352 ) 2,296 10,574 Consumer lines of credit 8,883 (583 ) 150 (433 ) 1,054 9,504 Total consumer loans 48,933 (5,976 ) 1,355 (4,621 ) 7,754 52,066 Total allowance on originated loans and leases 154,214 (15,059 ) 2,399 (12,660 ) 17,538 159,092 Purchased credit-impaired loans 660 (1 ) — (1 ) (19 ) 640 Other acquired loans 5,908 (74 ) 896 822 (763 ) 5,967 Total allowance on acquired loans 6,568 (75 ) 896 821 (782 ) 6,607 Total allowance $ 160,782 $ (15,134 ) $ 3,295 $ (11,839 ) $ 16,756 $ 165,699 Six Months Ended June 30, 2017 Commercial real estate $ 46,635 $ (1,306 ) $ 866 $ (440 ) $ 763 $ 46,958 Commercial and industrial 47,991 (10,199 ) 657 (9,542 ) 15,659 54,108 Commercial leases 3,280 (714 ) 4 (710 ) 1,552 4,122 Other 1,392 (1,794 ) 680 (1,114 ) 1,560 1,838 Total commercial loans and leases 99,298 (14,013 ) 2,207 (11,806 ) 19,534 107,026 Direct installment 21,391 (6,119 ) 1,209 (4,910 ) 4,255 20,736 Residential mortgages 10,082 (362 ) 171 (191 ) 1,361 11,252 Indirect installment 10,564 (4,336 ) 1,395 (2,941 ) 2,951 10,574 Consumer lines of credit 9,456 (1,041 ) 315 (726 ) 774 9,504 Total consumer loans 51,493 (11,858 ) 3,090 (8,768 ) 9,341 52,066 Total allowance on originated loans and leases 150,791 (25,871 ) 5,297 (20,574 ) 28,875 159,092 Purchased credit-impaired loans 572 (1 ) — (1 ) 69 640 Other acquired loans 6,696 (556 ) 1,165 609 (1,338 ) 5,967 Total allowance on acquired loans 7,268 (557 ) 1,165 608 (1,269 ) 6,607 Total allowance for credit losses $ 158,059 $ (26,428 ) $ 6,462 $ (19,966 ) $ 27,606 $ 165,699 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 June 30, 2018 Commercial real estate $ 26 $ 50,561 $ 5,754,367 $ 8,521 $ 5,745,846 Commercial and industrial 4,392 49,297 3,797,773 18,482 3,779,291 Commercial leases — 7,039 337,397 — 337,397 Other — 1,996 43,351 — 43,351 Total commercial loans and leases 4,418 108,893 9,932,888 27,003 9,905,885 Direct installment — 20,279 1,772,090 — 1,772,090 Residential mortgages — 15,163 2,297,558 — 2,297,558 Indirect installment — 13,401 1,746,352 — 1,746,352 Consumer lines of credit — 10,461 1,136,293 — 1,136,293 Total consumer loans — 59,304 6,952,293 — 6,952,293 Total $ 4,418 $ 168,197 $ 16,885,181 $ 27,003 $ 16,858,178 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 The above table excludes acquired loans that were pooled into groups of loans for evaluating impairment. |
LOAN SERVICING
LOAN SERVICING | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018 and December 31, 2017 , is listed below: (in thousands) June 30, December 31, 2017 Mortgage loans sold with servicing retained $ 3,605,603 $ 3,256,548 The following table summarizes activity relating to mortgage loans sold with servicing retained: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Mortgage loans sold with servicing retained $ 282,756 $ 226,600 $ 519,649 $ 356,443 Pretax gains resulting from above loan sales (1) 5,024 5,633 8,822 9,271 Mortgage servicing fees (1) 2,223 2,007 4,397 3,610 (1) Recorded in mortgage banking operations. Following is a summary of the MSR activity: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Balance at beginning of period $ 30,791 $ 22,866 $ 29,053 $ 13,521 Fair value of MSRs acquired — — — 8,553 Additions 3,315 2,576 6,025 4,030 Payoffs and curtailments (504 ) (441 ) (909 ) (580 ) Amortization (632 ) (557 ) (1,199 ) (1,080 ) Balance at end of period $ 32,970 $ 24,444 $ 32,970 $ 24,444 Fair value, beginning of period $ 36,445 $ 26,962 $ 32,419 $ 17,546 Fair value, end of period 38,603 27,173 38,603 27,173 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 and as interest rates increase, mortgage loan prepayments decline, which results in an increase 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: (dollars in thousands) June 30, December 31, Weighted average life (months) 84.8 80.4 Constant prepayment rate (annualized) 9.1 % 9.9 % Discount rate 9.9 % 9.9 % Effect on fair value due to change in interest rates: +0.25% $ 1,286 $ 1,737 +0.50% 2,319 3,220 -0.25% (1,584 ) (1,937 ) -0.50% (3,498 ) (4,007 ) 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 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 June 30, 2018 and December 31, 2017 , was as follows: (in thousands) June 30, December 31, SBA loans sold to investors with servicing retained $ 305,632 $ 305,977 The following table summarizes activity relating to SBA loans sold with servicing retained: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 SBA loans sold with servicing retained $ 11,225 $ 15,142 $ 23,513 $ 24,518 Pretax gains resulting from above loan sales (1) 1,171 816 2,272 816 SBA servicing fees (1) 699 627 1,449 742 (1) Recorded in non-interest income. Following is a summary of the activity in SBA servicing rights: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Balance at beginning of period $ 5,062 $ 5,339 $ 5,058 $ — Fair value of servicing rights acquired — — — 5,399 Additions 258 264 646 264 Impairment (charge) / recovery (139 ) — (229 ) — Amortization (287 ) (319 ) (581 ) (379 ) Balance at end of period $ 4,894 $ 5,284 $ 4,894 $ 5,284 Fair value, beginning of period $ 5,062 $ 5,339 $ 5,058 $ — Fair value, end of period 4,894 5,299 4,894 5,299 Following is a summary of key assumptions and the sensitivity of the SBA loan servicing rights to changes in these assumptions: June 30, 2018 December 31, 2017 Decline in fair value due to Decline in fair value due to (dollars in thousands) Actual 10% adverse change 20% adverse change 1% adverse change 2% adverse change Actual 10% adverse change 20% adverse change 1% adverse change 2% adverse change Weighted-average life (months) 58.2 63.5 Constant prepayment rate (annualized) 10.51 % $ (161 ) $ (312 ) $ — $ — 9.29 % $ (145 ) $ (284 ) $ — $ — Discount rate 15.08 — — (138 ) (269 ) 14.87 — — (147 ) (286 ) The fair value of the SBA servicing rights is compared to the amortized basis. 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 $0.5 million valuation allowance for SBA servicing rights as of June 30, 2018 . |
BORROWINGS
BORROWINGS | 6 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
BORROWINGS | BORROWINGS Following is a summary of short-term borrowings: (in thousands) June 30, December 31, Securities sold under repurchase agreements $ 239,804 $ 256,017 Federal Home Loan Bank advances 2,800,000 2,285,000 Federal funds purchased 1,165,000 1,000,000 Subordinated notes 129,342 137,320 Total short-term borrowings $ 4,334,146 $ 3,678,337 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. Of the total short-term FHLB advances, 73.0% and 84.5% had overnight maturities as of June 30, 2018 and December 31, 2017 , respectively. Following is a summary of long-term borrowings: (in thousands) June 30, December 31, Federal Home Loan Bank advances $ 270,045 $ 310,061 Subordinated notes 88,762 87,614 Junior subordinated debt 110,587 110,347 Other subordinated debt 159,544 160,151 Total long-term borrowings $ 628,938 $ 668,173 Our banking affiliate has available credit with the FHLB of $7.7 billion , of which $3.1 billion was utilized as of June 30, 2018 . These advances are secured by loans collateralized by residential mortgages, home equity lines of credit, 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 1.39% to 4.19% for the six months ended June 30, 2018 and 0.95% to 4.19% for the year ended December 31, 2017 . The junior subordinated debt is comprised of the debt securities issued by FNB in relation to our unconsolidated subsidiary trusts (collectively, the Trusts), which are unconsolidated variable interest entities, and is included on the Balance Sheet in long-term borrowings. Since third-party investors are the primary beneficiaries, the Trusts are not consolidated in our Financial Statements. We record the distributions on the junior subordinated debt issued to the Trusts as interest expense. The following table provides information relating to the Trusts as of June 30, 2018 : (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 3.99 % LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,493 10/18/2034 4.55 % LIBOR + 219 bps Yadkin Valley Statutory Trust I 25,000 774 20,987 12/15/2037 3.66 % LIBOR + 132 bps FNB Financial Services Capital Trust I 25,000 774 21,916 9/30/2035 3.80 % LIBOR + 146 bps American Community Capital Trust II 10,000 310 10,444 12/15/2033 5.11 % LIBOR + 280 bps Crescent Financial Capital Trust I 8,000 248 8,582 10/7/2033 5.45 % LIBOR + 310 bps Total $ 115,500 $ 3,885 $ 110,587 |
DERIVATIVE INSTRUMENTS AND HEDG
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | 6 Months Ended |
Jun. 30, 2018 | |
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. June 30, 2018 December 31, 2017 Notional Fair Value Notional Fair Value (in thousands) Amount Asset Liability Amount Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 855,000 $ — $ 4,372 $ 705,000 $ 228 $ 1,982 Interest rate swaps – not designated 2,542,255 4,755 7,974 2,245,442 1,169 11,599 Equity contracts – not designated 1,180 30 — 1,180 51 — Total subject to master netting arrangements 3,398,435 4,785 12,346 2,951,622 1,448 13,581 Not subject to master netting arrangements: Interest rate swaps – not designated 2,542,255 14,219 53,724 2,245,442 27,233 15,303 Interest rate lock commitments – not designated 91,659 1,662 7 88,107 1,594 5 Forward delivery commitments – not designated 107,830 221 336 106,572 233 148 Credit risk contracts – not designated 243,297 — — 235,196 39 109 Equity contracts – not designated 1,180 — 30 1,180 — 51 Total not subject to master netting arrangements 2,986,221 16,102 54,097 2,676,497 29,099 15,616 Total $ 6,384,656 $ 20,887 $ 66,443 $ 5,628,119 $ 30,547 $ 29,197 Beginning in the first quarter of 2017, certain derivative exchanges have 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 exchanges that have adopted the rule change 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 seven 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. Any ineffective portion of the gain or loss is reported in earnings immediately. Following is a summary of key data related to interest rate contracts: (in thousands) June 30, December 31, Notional amount $ 855,000 $ 705,000 Fair value included in other assets — 228 Fair value included in other liabilities 4,372 1,982 The following table shows amounts reclassified from accumulated other comprehensive income for the six months ended June 30, 2018 : (in thousands) Total Net of Tax Reclassified from AOCI to interest income $ 25 $ 20 Reclassified from AOCI to interest expense (902 ) (713 ) As of June 30, 2018 , the maximum length of time over which forecasted interest cash flows are hedged is 5 years. In the twelve months that follow June 30, 2018 , we expect to reclassify from the amount currently reported in AOCI net derivative gains of $3.4 million ( $2.7 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 June 30, 2018 . There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to these cash flow hedges. For the six months ended June 30, 2018 and 2017 , there was no hedge ineffectiveness. Also, during the six months ended June 30, 2018 and 2017 , 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. Following is a summary of key data related to interest rate swaps: (in thousands) June 30, December 31, Notional amount $ 5,084,510 $ 4,490,884 Fair value included in other assets 18,974 28,402 Fair value included in other liabilities 61,698 26,902 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 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 270 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 their obligation to perform under certain derivative swap contracts. Risk participation agreements sold with notional amounts totaling $157.2 million as of June 30, 2018 have remaining terms ranging from three 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 zero at June 30, 2018 and $0.1 million at December 31, 2017 . The fair values of risk participation agreements purchased and sold were $0.2 million and $(0.3) million , respectively, at December 31, 2018 and $0.04 million and $(0.1) million , respectively at December 31, 2017 . Counterparty Credit Risk We are party to master netting arrangements with most of our swap derivative dealer 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 settled or 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 $0.4 million and $0.9 million as of June 30, 2018 and December 31, 2017 , 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 Balance Sheet (in thousands) Net Amount Presented in the Balance Sheet Financial Instruments Cash Collateral Net Amount June 30, 2018 Derivative Assets Interest rate contracts: Designated $ — $ — $ — $ — Not designated 4,755 4,704 — 51 Equity contracts – not designated 30 30 — — Total $ 4,785 $ 4,734 $ — $ 51 Derivative Liabilities Interest rate contracts: Designated $ 4,372 $ 4,372 $ — $ — Not designated 7,974 7,579 — 395 Total $ 12,346 $ 11,951 $ — $ 395 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 The following table presents the effect of certain derivative financial instruments on the Income Statement: Six Months Ended (in thousands) Income Statement Location 2018 2017 Interest Rate Contracts Interest income - loans and leases $ 25 $ 900 Interest Rate Contracts Interest expense – short-term borrowings (902 ) 652 Interest Rate Swaps Other income 1,259 (465 ) Credit Risk Contracts Other income 70 21 |
COMMITMENTS, CREDIT RISK AND CO
COMMITMENTS, CREDIT RISK AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2018 | |
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: (in thousands) June 30, December 31, Commitments to extend credit $ 7,223,071 $ 6,957,822 Standby letters of credit 137,054 132,904 At June 30, 2018 , funding of 76.9% 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 Note 8. 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 | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
STOCK INCENTIVE PLANS | STOCK INCENTIVE PLANS Restricted Stock We issue restricted stock awards 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 283,037 and 251,379 performance-based restricted stock units during the first six months of 2018 and 2017 . For performance-based restricted stock awards granted in 2018, we incorporated a new metric in which recipients will earn shares totaling between 0% and 175% of the number of units issued, based on our return on average tangible assets (ROATA) relative to a specified peer group of financial institutions over the three -year period. The result calculated using ROATA will then be adjusted by 75% to 125% , based on our total shareholder return (TSR) relative to the specified peer group of financial institutions. For performance-based restricted stock awards granted from 2014 through 2017, the recipients will earn shares, totaling between 0% and 175% of the number of units issued, based on our TSR relative to a specified peer group of financial institutions over the three -year period. These market-based restricted stock award units are included in the table below based on where we expect them to vest, regardless of the actual vesting percentages. As of June 30, 2018 , we had available up to 2,333,089 shares of common stock to issue under this Plan. The following table details our issuance of restricted stock units and the aggregate weighted average grant date fair values under these plans for the years indicated. Six Months Ended (dollars in thousands) 2018 2017 Restricted stock units 937,155 707,851 Weighted average grant date fair values $ 12,370 $ 10,398 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 units during the periods indicated: Six Months Ended June 30, 2018 2017 Units Weighted Average Grant Price per Share Units Weighted Average Grant Price per Share Unvested units outstanding at beginning of period 1,975,862 $ 13.64 1,836,363 $ 12.97 Granted 937,155 13.20 707,851 14.69 Vested (257,712 ) 13.18 (592,202 ) 12.84 Forfeited/expired (180,723 ) 13.30 (14,679 ) 13.23 Dividend reinvestment 38,129 14.02 28,454 14.49 Unvested units outstanding at end of period 2,512,711 13.56 1,965,787 13.65 The following table provides certain information related to restricted stock units: (in thousands) Six Months Ended 2018 2017 Stock-based compensation expense $ 4,699 $ 3,958 Tax benefit related to stock-based compensation expense 987 1,385 Fair value of units vested 3,472 8,013 As of June 30, 2018 , there was $19.1 million of unrecognized compensation cost related to unvested restricted stock units, including $1.3 million that is subject to accelerated vesting under the Plan’s immediate vesting upon retirement. The components of the restricted stock units as of June 30, 2018 are as follows: (dollars in thousands) Service- Based Units Performance- Based Units Total Unvested restricted stock units 1,449,400 1,063,311 2,512,711 Unrecognized compensation expense $ 12,405 $ 6,646 $ 19,051 Intrinsic value $ 19,451 $ 14,270 $ 33,721 Weighted average remaining life (in years) 2.29 2.05 2.19 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: Six Months Ended June 30, 2018 2017 Shares Weighted Average Exercise Price per Share Shares Weighted Average Exercise Price per Share Options outstanding at beginning of period 722,650 $ 7.96 892,532 $ 8.95 Assumed from acquisitions — — 207,645 8.92 Exercised (197,390 ) 7.93 (155,597 ) 9.43 Forfeited/expired (4,598 ) 11.65 (56,510 ) 11.17 Options outstanding and exercisable at end of period 520,662 7.96 888,070 8.72 The intrinsic value of outstanding and exercisable stock options at June 30, 2018 was $2.8 million . The aggregate intrinsic value represents the amount by which the fair value of underlying stock exceeds the option exercise price. |
RETIREMENT PLANS
RETIREMENT PLANS | 6 Months Ended |
Jun. 30, 2018 | |
Retirement Benefits [Abstract] | |
RETIREMENT PLANS | RETIREMENT PLANS 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 6% that the employee defers. During the second quarter of 2018, we made a one-time discretionary contribution of $0.9 million to the vast majority of our employees following the tax reform that was enacted in December 2017. Additionally, we may provide a performance-based company contribution of up to 3% if we exceed annual financial goals. Our contribution expense is presented in the following table: Six Months Ended (in thousands) 2018 2017 401(k) contribution expense $ 8,146 $ 6,150 We also sponsor an Employee Retirement Income Security Act of 1974 (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. Additionally, we sponsor a qualified non-contributory defined benefit pension plan and two supplemental non-qualified retirement plans that have been frozen. The net periodic benefit credit for these plans includes the following components: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Service cost $ (4 ) $ (4 ) $ (8 ) $ (8 ) Interest cost 1,560 1,477 3,120 2,954 Expected return on plan assets (2,895 ) (2,427 ) (5,790 ) (4,854 ) Amortization: Unrecognized prior service cost — 2 — 4 Unrecognized loss 623 628 1,246 1,256 Net periodic pension credit $ (716 ) $ (324 ) $ (1,432 ) $ (648 ) |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Jun. 30, 2018 | |
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, which was our first reporting date after the TCJA enactment. 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 from the TCJA enactment date. Income Tax Expense Federal and state income tax expense and the statutory tax rate and the actual effective tax rate consist of the following: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Current income taxes: Federal taxes $ 5,749 $ 6,602 $ 23,449 $ 13,290 State taxes 1,045 1,086 2,749 1,585 Total current income taxes 6,794 7,688 26,198 14,875 Deferred income taxes: Federal taxes 13,256 22,460 15,158 24,150 State taxes 421 (531 ) 383 (2,924 ) Total deferred income taxes 13,677 21,929 15,541 21,226 Total income taxes $ 20,471 $ 29,617 $ 41,739 $ 36,101 Statutory tax rate 21.0 % 35.0 % 21.0 % 35.0 % Effective tax rate 19.4 % 28.5 % 19.5 % 27.0 % The effective tax rate for the six months ended June 30, 2018 under the 21% TCJA statutory federal tax rate was 19.5% . The effective tax rate for the six months ended June 30, 2017 under the former 35% statutory federal tax rate was 27.0% . The effective tax rate for the six months ended June 30, 2018 was lower than the statutory tax rate of 21% due to tax benefits resulting from tax-exempt income on investments, loans, tax credits and income from BOLI. The lower effective tax rate for the six months ended June 30, 2017 primarily related to merger expenses and an increase in the level of tax credits. In the fourth quarter of 2017, we elected to change our accounting policy under ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) to reclassify the income tax effects related to the TCJA from AOCI to retained earnings. 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%. |
OTHER COMPREHENSIVE INCOME
OTHER COMPREHENSIVE INCOME | 6 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME | OTHER COMPREHENSIVE INCOME The following table presents changes in AOCI, net of tax, by component: (in thousands) Unrealized Net Losses on Debt Securities Available for Sale Unrealized Net Gains (Losses) on Derivative Instruments Unrecognized Pension and Postretirement Obligations Total Six Months Ended June 30, 2018 Balance at beginning of period $ (29,626 ) $ 5,407 $ (58,833 ) $ (83,052 ) Other comprehensive (loss) income before reclassifications (38,660 ) 5,600 972 (32,088 ) Amounts reclassified from AOCI (24 ) (721 ) — (745 ) Net current period other comprehensive (loss) income (38,684 ) 4,879 972 (32,833 ) Balance at end of period $ (68,310 ) $ 10,286 $ (57,861 ) $ (115,885 ) The amounts reclassified from AOCI related to debt 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 debt 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 | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE 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 the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended Six Months Ended ( dollars in thousands, except per share data) 2018 2017 2018 2017 Net income $ 85,206 $ 74,406 $ 171,968 $ 97,385 Less: Preferred stock dividends 2,010 2,010 4,020 4,020 Net income available to common stockholders $ 83,196 $ 72,396 $ 167,948 $ 93,365 Basic weighted average common shares outstanding 324,170,177 323,303,460 323,956,752 280,578,720 Net effect of dilutive stock options, warrants and restricted stock 1,559,872 1,564,299 1,772,440 1,706,762 Diluted weighted average common shares outstanding 325,730,049 324,867,759 325,729,192 282,285,482 Earnings per common share: Basic $ 0.26 $ 0.22 $ 0.52 $ 0.33 Diluted $ 0.26 $ 0.22 $ 0.52 $ 0.33 The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: Three Months Ended Six Months Ended 2018 2017 2018 2017 Average shares excluded from the diluted earnings per common share calculation 72 1,266 46 8,107 |
CASH FLOW INFORMATION
CASH FLOW INFORMATION | 6 Months Ended |
Jun. 30, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
CASH FLOW INFORMATION | CASH FLOW INFORMATION Following is a summary of supplemental cash flow information: Six Months Ended 2018 2017 (in thousands) Interest paid on deposits and other borrowings $ 98,926 $ 51,611 Income taxes paid 6,000 43,500 Transfers of loans to other real estate owned 7,967 22,451 |
BUSINESS SEGMENTS
BUSINESS SEGMENTS | 6 Months Ended |
Jun. 30, 2018 | |
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. In June, we announced plans to divest our Consumer Finance subsidiary as part of our strategy to enhance the overall positioning of our consumer banking operations. We entered a definitive stock purchase agreement to sell 100 percent of the issued and outstanding capital stock of Regency to Mariner Finance, LLC. The sale of Regency is expected to close during the second half of 2018, subject to receipt of regulatory approvals and other customary closing conditions. We expect this transaction to accomplish several strategic objectives, including enhancing the credit risk profile of the consumer loan portfolio, offering additional liquidity and selling a non-strategic business segment that does not fit with our core business. 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 Management Insurance Consumer Finance Parent and Other Consolidated At or for the Three Months Ended June 30, 2018 Interest income $ 284,768 $ — $ 19 $ 9,349 $ (19 ) $ 294,117 Interest expense 50,118 — — 885 3,759 54,762 Net interest income 234,650 — 19 8,464 (3,778 ) 239,355 Provision for credit losses 13,277 — — 2,277 — 15,554 Non-interest income 51,137 11,239 3,695 653 (1,835 ) 64,889 Non-interest expense (1) 159,675 8,694 3,895 5,293 1,645 179,202 Amortization of intangibles 3,699 60 52 — — 3,811 Income tax expense (benefit) 21,291 581 (43 ) 444 (1,802 ) 20,471 Net income (loss) 87,845 1,904 (190 ) 1,103 (5,456 ) 85,206 Total assets 32,034,457 25,152 22,114 167,678 8,162 32,257,563 Total intangibles 2,311,429 10,067 12,140 1,809 — 2,335,445 At or for the Three Months Ended June 30, 2017 Interest income $ 241,917 $ — $ 19 $ 10,114 $ (1,016 ) $ 251,034 Interest expense 28,414 — — 888 3,317 32,619 Net interest income 213,503 — 19 9,226 (4,333 ) 218,415 Provision for credit losses 14,738 — — 2,018 — 16,756 Non-interest income 53,031 9,821 3,496 770 (1,040 ) 66,078 Non-interest expense (1) 141,441 7,987 3,456 5,288 729 158,901 Amortization of intangibles 4,694 65 54 — — 4,813 Income tax expense (benefit) 30,200 651 10 1,073 (2,317 ) 29,617 Net income (loss) 75,461 1,118 (5 ) 1,617 (3,785 ) 74,406 Total assets 30,487,402 22,028 22,311 183,859 38,126 30,753,726 Total intangibles 2,322,326 10,288 12,231 1,809 — 2,346,654 (1) Excludes amortization of intangibles, which is presented separately. (in thousands) Community Banking Wealth Management Insurance Consumer Finance Parent and Other Consolidated At or for the Six Months Ended June 30, 2018 Interest income $ 548,355 $ — $ 39 $ 18,643 $ 7 $ 567,044 Interest expense 92,478 — — 1,795 7,311 101,584 Net interest income 455,877 — 39 16,848 (7,304 ) 465,460 Provision for credit losses 25,689 — — 4,360 — 30,049 Non-interest income 104,449 22,241 7,998 1,291 (3,587 ) 132,392 Non-interest expense (1) 308,342 16,972 7,606 10,523 2,624 346,067 Amortization of intangibles 7,804 121 104 — — 8,029 Income tax expense (benefit) 43,011 1,170 81 918 (3,441 ) 41,739 Net income (loss) 175,480 3,978 246 2,338 (10,074 ) 171,968 Total assets 32,034,457 25,152 22,114 167,678 8,162 32,257,563 Total intangibles 2,311,429 10,067 12,140 1,809 — 2,335,445 At or for the Six Months Ended June 30, 2017 Interest income $ 427,298 $ — $ 39 $ 20,016 $ (1,626 ) $ 445,727 Interest expense 47,279 — — 1,810 5,471 54,560 Net interest income 380,019 — 39 18,206 (7,097 ) 391,167 Provision for credit losses 23,802 — — 3,804 — 27,606 Non-interest income 93,748 19,370 7,821 1,480 (1,225 ) 121,194 Non-interest expense (1) 309,725 15,527 6,771 10,519 816 343,358 Amortization of intangibles 7,676 126 109 — — 7,911 Income tax expense (benefit) 36,511 1,362 357 2,140 (4,269 ) 36,101 Net income (loss) 96,053 2,355 623 3,223 (4,869 ) 97,385 Total assets 30,487,402 22,028 22,311 183,859 38,126 30,753,726 Total intangibles 2,322,326 10,288 12,231 1,809 — 2,346,654 (1) Excludes amortization of intangibles, which is presented separately. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS Refer to Note 24 "Fair Value Measurements" to the Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on February 28, 2018 for a description of additional valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis. Assets and liabilities measured at fair value rarely transfer between Level 1 and Level 2 measurements. There were no such transfers during the six -month periods ended June 30, 2018 and 2017 . 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 June 30, 2018 Assets Measured at Fair Value Debt securities available for sale U.S. government agencies $ — $ 95,526 $ — $ 95,526 U.S. government-sponsored entities — 306,934 — 306,934 Residential mortgage-backed securities: Agency mortgage-backed securities — 1,577,596 — 1,577,596 Agency collateralized mortgage obligations — 831,817 — 831,817 Non-agency collateralized mortgage obligations — — — — Commercial mortgage-backed securities — 168,324 — 168,324 States of the U.S. and political subdivisions — 20,735 — 20,735 Other debt securities — 1,855 — 1,855 Total debt securities available for sale — 3,002,787 — 3,002,787 Loans held for sale — 28,213 — 28,213 Marketable equity securities Fixed income mutual fund 177 — — 177 Financial services industry — 995 — 995 Total marketable equity securities 177 995 — 1,172 Derivative financial instruments Trading — 19,004 — 19,004 Not for trading — 221 1,662 1,883 Total derivative financial instruments — 19,225 1,662 20,887 Total assets measured at fair value on a recurring basis $ 177 $ 3,051,220 $ 1,662 $ 3,053,059 Liabilities Measured at Fair Value Derivative financial instruments Trading $ — $ 61,728 $ — $ 61,728 Not for trading — 4,708 7 4,715 Total derivative financial instruments — 66,436 7 66,443 Total liabilities measured at fair value on a recurring basis $ — $ 66,436 $ 7 $ 66,443 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2017 Assets Measured at Fair Value Debt securities available for sale 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 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 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 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 Debt Securities Equity Securities Residential Non-Agency Collateralized Mortgage Obligations Interest Rate Lock Commitments Total Six Months Ended June 30, 2018 Balance at beginning of period $ — $ — $ — $ 1,594 $ 1,594 Purchases, issuances, sales and settlements: Purchases — — — 1,662 1,662 Settlements — — — (1,594 ) (1,594 ) Balance at end of period $ — $ — $ — $ 1,662 $ 1,662 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 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 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. There were no transfers of assets or liabilities between the hierarchy levels during the first six months of 2018. During the first quarter of 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 the first six months of 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. For the six months ended June 30, 2018 , we recorded in earnings $0.6 million of unrealized gains relating to the adoption of ASU 2016-01 and market value adjustments on marketable equity securities. These unrealized gains included in earnings are in the other non-interest income line item in the consolidated statement of income. For the six months ended June 30, 2017 , 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 realized net securities gains included in earnings are in the net securities gains 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 described in Note 24 "Fair Value Measurements" in our 2017 Form 10-K. 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 June 30, 2018 Impaired loans $ — $ 1,460 $ 6,135 $ 7,595 Other real estate owned — — 5,500 5,500 Other assets - SBA servicing asset — — 4,894 4,894 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 Substantially all of the fair value amounts in the table above were estimated at a date during the six months or twelve months ended June 30, 2018 and December 31, 2017 , respectively. Consequently, the fair value information presented is not necessarily as of the period’s end. Impaired loans measured or re-measured at fair value on a non-recurring basis during the six months ended June 30, 2018 had a carrying amount of $7.6 million , which includes an allocated allowance for credit losses of $4.4 million . The allowance for credit losses includes a provision applicable to the current period fair value measurements of $4.7 million , which was included in the provision for credit losses for the six months ended June 30, 2018 . OREO with a carrying amount of $7.6 million was written down to $5.5 million , resulting in a loss of $2.1 million , which was included in earnings for the six months ended June 30, 2018 . 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 AFS and securities HTM, 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, as the fair value measurement represents an exit price from a market participants' viewpoint. 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 Note 24 "Fair Value Measurements" to the Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on February 28, 2018 for a description of valuation methodologies for derivative assets and liabilities measured at fair value. 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 June 30, 2018 Financial Assets Cash and cash equivalents $ 433,699 $ 433,699 $ 433,699 $ — $ — Debt securities available for sale 3,002,787 3,002,787 — 3,002,787 — Debt securities held to maturity 3,295,081 3,181,275 — 3,181,275 — Net loans and leases, including loans held for sale 21,527,120 21,163,711 — 28,213 21,135,498 Loan servicing rights 37,864 43,497 — — 43,497 Marketable equity securities 1,172 1,172 177 995 — Derivative assets 20,887 20,887 — 19,225 1,662 Accrued interest receivable 93,210 93,210 93,210 — — Financial Liabilities Deposits 22,539,787 22,481,472 17,668,799 4,812,673 — Short-term borrowings 4,334,146 4,334,835 4,334,835 — — Long-term borrowings 628,938 624,104 — — 624,104 Derivative liabilities 66,443 66,443 — 66,436 7 Accrued interest payable 15,138 15,138 15,138 — — 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 — Debt 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 — — |
SUMMARY OF SIGNIFICANT ACCOUN29
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
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, 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. 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 June 30, 2018 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. Certain information and Note disclosures normally included in Consolidated Financial Statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The interim operating results are not necessarily indicative of operating results FNB expects for the full year. These interim unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto included in FNB’s 2017 Annual Report on Form 10-K filed with the SEC on February 28, 2018 . For a detailed description of our significant accounting policies, see Note 1 "Summary of Significant Accounting Policies" in the 2017 Form 10-K. The accounting policies presented below have been added or amended for newly material items or the adoption of new accounting standards. |
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, income taxes and deferred tax assets and litigation. |
Revenue from Contracts with Customers | Revenue from Contracts with Customers We earn certain revenues from contracts with customers. These revenues are recognized when control of the promised services is transferred to the customers in an amount that reflects the consideration we expect to be entitled to in an exchange for those services. In determining the appropriate revenue recognition for our contracts with customers, we consider whether the contract has commercial substance and is approved by both parties with identifiable contractual rights, payment terms, and the collectability of consideration is probable. Generally, we satisfy our performance obligations upon the completion of services at the amount to which we have the right to invoice or charge under contracts with an original expected duration of one year or less. We apply this guidance on a portfolio basis to contracts with similar characteristics and for which we believe the results would not differ materially from applying this guidance to individual contracts. Our services provided under contracts with customers are transferred at the point in time when the services are rendered. Generally, we do not defer incremental direct costs to obtain contracts with customers that would be amortized in one year or less under the practical expedient. These costs are recognized as expense, primarily salary and benefit expense, in the period incurred. Deposit Services . We recognize revenue on deposit services based on published fees for services provided. Demand and savings deposit customers have the right to cancel their depository arrangements and withdraw their deposited funds at any time without prior notice. When services involve deposited funds that can be retrieved by customers without penalties, we consider the service contract term to be day-to-day, where each day represents the renewal of the contract. The contract does not extend beyond the services performed and revenue is recognized at the end of the contract term (daily) as the performance obligation is satisfied. No deposit services fees exist for long-term deposit products beyond early withdrawal penalties, which are earned on these products at the time of early termination. Revenue from deposit services fees are reduced where we have a history of waived or reduced fees by customer request or due to a customer service issue, by historical experience, or another acceptable method in the same period as the related revenues. Revenues from deposit services are reported in the Consolidated Statements of Income as service charges and in the Community Banking segment as non-interest income. Wealth Management Services. Wealth advisory and trust services are provided on a month-to-month basis and invoiced as services are rendered. Fees are based on a fixed amount or a scale based on the level of services provided or assets under management. The customer has the right to terminate their services agreement at any time. We determine the value of services performed based on the fee schedule in effect at the time the services are performed. Revenues from wealth advisory and trust services are reported in the Consolidated Statements of Income as trust services and securities commissions and fees, and in the Wealth segment as non-interest income. Insurance Services. Insurance services include full-service insurance brokerage services offering numerous lines of commercial and personal insurance through major carriers to businesses and individuals within our geographic markets. We recognize revenue on insurance contracts in effect based on contractually specified commission payments on premiums that are paid by the customer to the insurance carrier. Contracts are cancellable at any time and we have no performance obligation to the customers beyond the time the insurance is placed into effect. Revenues from insurance services are reported in the Consolidated Statements of Income as insurance commissions and fees, and in the Insurance segment as non-interest income. |
Debt Securities | Debt Securities Debt securities comprise a significant portion of our Consolidated Balance Sheets. Such securities can be classified as trading, HTM or AFS. As of June 30, 2018 and 2017 , we did not hold any trading debt securities. Debt securities HTM are the securities that 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 OTTI. Debt securities that are not classified as trading or HTM are classified as AFS. 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 debt 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. |
Low Income Housing Tax Credit Partnerships | Low Income Housing Tax Credit (LIHTC) Partnerships We invest in various affordable housing projects that qualify for 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. |
New Accounting Standards | Standard Description Required Date of Adoption Financial Statements Impact Derivative and Hedging Activities ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities This Update improves the financial reporting of hedging to better align with a company’s risk management activities. In addition, this Update makes certain targeted improvements to simplify the application of the current hedge accounting guidance. January 1, 2019 Early adoption is permitted. This Update is to be applied using a modified retrospective method. The presentation and disclosure guidance are applied prospectively. We are currently assessing the potential impact to our Consolidated Financial Statements. Securities ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities This Update 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. January 1, 2019 Early adoption is permitted. This Update is to be applied using a modified retrospective transition method. The adoption of this Update is not expected to have a material effect on our Consolidated Financial Statements. Standard Description Required Date of Adoption Financial Statements Impact Retirement Benefits ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This Update 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. January 1, 2018 We adopted this Update in the first quarter of 2018 by a retrospective transition method. The adoption of this Update 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) This Update adds or clarifies guidance on eight cash flow issues. January 1, 2018 We adopted this Update in the first quarter of 2018 by retrospective application. The adoption of this Update did not 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 This Update 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, HTM 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 AFS debt security impairment model and eliminate the current accounting for purchased credit impaired loans and debt securities. January 1, 2020 Early adoption is permitted for fiscal years beginning after December 15, 2018 This Update is to be applied using a cumulative-effect adjustment to retained earnings. The CECL model is a significant change from existing GAAP and may result in a material change to our accounting for financial instruments and regulatory capital. We have created a cross-functional steering committee to govern implementation as we continue to review and enhance our business processes, information systems and controls to support recognition and disclosures under this Update including designing and building the models that will be used to calculate the expected credit losses. The impact of this Update will be dependent on the portfolio composition, credit quality and forecasts of economic conditions at the time of adoption. 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) This Update requires entities that sell prepaid stored-value products redeemable for goods, services or cash at third-party merchants to recognize breakage. January 1, 2018 We adopted this Update in the first quarter of 2018. The adoption of this Update did not have a material effect on our Consolidated Financial Statements. Standard Description Required Date of Adoption Financial Statements Impact Leases ASU 2016-02, Leases (Topic 842) ASU 2018-10, Codification Improvements to Topic 842, Leases ASU 2018-11, Leases (Topic 842), Targeted Improvements These Updates require 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. January 1, 2019 Early adoption is permitted. These Updates are to be applied using a modified retrospective application including a number of optional practical expedients. We are in the process of classifying our existing lease portfolios, implementing a software solution, and assessing the potential impact to our Consolidated Financial Statements. We do not believe this update will materially impact our consolidated net income. Financial Instruments – Recognition and Measurement ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities This Update amends the presentation and accounting for certain financial instruments, including liabilities measured at fair value under the FVO, and equity investments. The guidance also updates fair value presentation and disclosure requirements for financial instruments measured at amortized cost. January 1, 2018 We adopted this Update in the first quarter of 2018 by a cumulative-effect adjustment. The adoption of this Update did not have a material effect on our Consolidated Financial Statements. During the first quarter of 2018, we transferred marketable equity securities totaling $1.1 million from securities AFS to other assets. Revenue Recognition ASU 2014-09, Revenue from Contracts with Customers (Topic 606) This Update 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. January 1, 2018 We adopted this Update in the first quarter of 2018 under the modified retrospective method. The adoption of this Update did not have a material effect on our Consolidated Financial Statements. |
SECURITIES (Tables)
SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale: June 30, 2018 U.S. government agencies $ 96,085 $ — $ (559 ) $ 95,526 U.S. government-sponsored entities 312,903 — (5,969 ) 306,934 Residential mortgage-backed securities: Agency mortgage-backed securities 1,626,353 390 (49,147 ) 1,577,596 Agency collateralized mortgage obligations 863,976 29 (32,188 ) 831,817 Non-agency collateralized mortgage obligations — — — — Commercial mortgage-backed securities 168,466 154 (296 ) 168,324 States of the U.S. and political subdivisions 20,795 2 (62 ) 20,735 Other debt securities 1,949 — (94 ) 1,855 Total debt securities available for sale $ 3,090,527 $ 575 $ (88,315 ) $ 3,002,787 December 31, 2017 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 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 |
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity | (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt Securities Held to Maturity: June 30, 2018 U.S. Treasury $ 500 $ 107 $ — $ 607 U.S. government agencies 2,056 60 — 2,116 U.S. government-sponsored entities 245,017 — (6,030 ) 238,987 Residential mortgage-backed securities: Agency mortgage-backed securities 1,125,947 295 (33,439 ) 1,092,803 Agency collateralized mortgage obligations 840,073 768 (34,063 ) 806,778 Commercial mortgage-backed securities 79,124 7 (1,555 ) 77,576 States of the U.S. and political subdivisions 1,002,364 1,626 (41,582 ) 962,408 Total debt securities held to maturity $ 3,295,081 $ 2,863 $ (116,669 ) $ 3,181,275 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 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 debt securities held to maturity $ 3,242,268 $ 17,357 $ (41,246 ) $ 3,218,379 |
Gross Gains and Gross Losses Realized on Sales of Securities | Gross gains and gross losses were realized on securities as follows: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Gross gains $ 31 $ 611 $ 31 $ 4,011 Gross losses — (118 ) — (893 ) Net gains $ 31 $ 493 $ 31 $ 3,118 |
Amortized Cost and Fair Value of Securities, by Contractual Maturities | As of June 30, 2018 , the amortized cost and fair value of debt 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 $ 65,485 $ 65,271 $ 55,457 $ 55,236 Due from one to five years 262,288 256,488 201,924 196,157 Due from five to ten years 19,860 19,709 95,166 94,334 Due after ten years 84,099 83,582 897,390 858,391 431,732 425,050 1,249,937 1,204,118 Residential mortgage-backed securities: Agency mortgage-backed securities 1,626,353 1,577,596 1,125,947 1,092,803 Agency collateralized mortgage obligations 863,976 831,817 840,073 806,778 Commercial mortgage-backed securities 168,466 168,324 79,124 77,576 Total debt securities $ 3,090,527 $ 3,002,787 $ 3,295,081 $ 3,181,275 |
Schedule of Securities Pledged as Collateral | Following is information relating to securities pledged: (dollars in thousands) June 30, December 31, Securities pledged (carrying value): To secure public deposits, trust deposits and for other purposes as required by law $ 3,370,601 $ 3,491,634 As collateral for short-term borrowings 261,140 263,756 Securities pledged as a percent of total securities 57.7 % 62.5 % |
Summaries of Fair Values and Unrealized Losses of Impaired Securities, Segregated by Length of Impairment | Following are summaries of the fair values and unrealized losses of temporarily impaired debt 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 Debt Securities Available for Sale June 30, 2018 U.S. government agencies 13 $ 95,526 $ (559 ) — $ — $ — 13 $ 95,526 $ (559 ) U.S. government-sponsored entities 5 106,668 (1,236 ) 10 200,266 (4,733 ) 15 306,934 (5,969 ) Residential mortgage-backed securities: Agency mortgage-backed securities 59 1,145,743 (30,600 ) 28 418,672 (18,547 ) 87 1,564,415 (49,147 ) Agency collateralized mortgage obligations 17 491,313 (16,023 ) 33 292,579 (16,165 ) 50 783,892 (32,188 ) Commercial mortgage-backed securities 2 74,167 (296 ) — — — 2 74,167 (296 ) States of the U.S. and political subdivisions 7 11,476 (55 ) 1 877 (7 ) 8 12,353 (62 ) Other debt securities — — — 3 1,855 (94 ) 3 1,855 (94 ) Total temporarily impaired debt securities AFS 103 $ 1,924,893 $ (48,769 ) 75 $ 914,249 $ (39,546 ) 178 $ 2,839,142 $ (88,315 ) 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 ) 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 ) Total temporarily impaired debt securities AFS 71 $ 1,503,806 $ (14,372 ) 75 $ 1,016,111 $ (25,408 ) 146 $ 2,519,917 $ (39,780 ) Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Value Unrealized Losses # Fair Value Unrealized Losses # Fair Value Unrealized Losses Debt Securities Held to Maturity June 30, 2018 U.S. government-sponsored entities 4 $ 54,509 $ (508 ) 10 $ 184,478 $ (5,522 ) 14 $ 238,987 $ (6,030 ) Residential mortgage-backed securities: Agency mortgage-backed securities 80 909,762 (25,390 ) 11 164,501 (8,049 ) 91 1,074,263 (33,439 ) Agency collateralized mortgage obligations 17 299,575 (8,104 ) 35 420,914 (25,959 ) 52 720,489 (34,063 ) Commercial mortgage-backed securities 8 54,920 (884 ) 4 21,531 (671 ) 12 76,451 (1,555 ) States of the U.S. and political subdivisions 174 616,117 (24,296 ) 37 110,429 (17,286 ) 211 726,546 (41,582 ) Total temporarily impaired debt securities HTM 283 $ 1,934,883 $ (59,182 ) 97 $ 901,853 $ (57,487 ) 380 $ 2,836,736 $ (116,669 ) 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 ) 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 debt securities HTM 73 $ 1,061,703 $ (7,851 ) 95 $ 984,076 $ (33,395 ) 168 $ 2,045,779 $ (41,246 ) |
LOANS AND LEASES (Tables)
LOANS AND LEASES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018 Commercial real estate $ 5,754,367 $ 3,079,955 $ 8,834,322 Commercial and industrial 3,797,773 503,614 4,301,387 Commercial leases 337,397 — 337,397 Other 43,351 — 43,351 Total commercial loans and leases 9,932,888 3,583,569 13,516,457 Direct installment 1,772,090 119,990 1,892,080 Residential mortgages 2,297,558 553,412 2,850,970 Indirect installment 1,746,352 157 1,746,509 Consumer lines of credit 1,136,293 517,273 1,653,566 Total consumer loans 6,952,293 1,190,832 8,143,125 Total loans and leases, net of unearned income $ 16,885,181 $ 4,774,401 $ 21,659,582 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 |
Certain Information Relating to Commercial Real Estate Loans | The following table shows certain information relating to commercial real estate loans: (dollars in thousands) June 30, December 31, Commercial construction, acquisition and development loans $ 1,176,326 $ 1,170,175 Percent of total loans and leases 5.4 % 5.6 % Commercial real estate: Percent owner-occupied 35.0 % 35.3 % Percent non-owner-occupied 65.0 % 64.7 % |
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: (in thousands) June 30, December 31, Accounted for under ASC 310-30: Outstanding balance $ 4,387,378 $ 5,176,015 Carrying amount 4,101,583 4,834,256 Accounted for under ASC 310-20: Outstanding balance 688,541 835,130 Carrying amount 668,859 812,322 Total acquired loans: Outstanding balance 5,075,919 6,011,145 Carrying amount 4,770,442 5,646,578 |
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. Six Months Ended (in thousands) 2018 2017 Balance at beginning of period $ 708,481 $ 467,070 Acquisitions — 444,715 Reduction due to unexpected early payoffs (94,456 ) (61,093 ) Reclass from non-accretable difference 128,955 40,304 Disposals/transfers (408 ) (324 ) Other (1,619 ) — Accretion (116,006 ) (100,628 ) Balance at end of period $ 624,947 $ 790,044 |
Summary of Non-Performing Assets | Following is a summary of non-performing assets: (dollars in thousands) June 30, December 31, Non-accrual loans $ 68,696 $ 74,635 Troubled debt restructurings 24,820 23,481 Total non-performing loans 93,516 98,116 Other real estate owned 39,240 40,606 Total non-performing assets $ 132,756 $ 138,722 Asset quality ratios: Non-performing loans / total loans and leases 0.43 % 0.47 % Non-performing loans + OREO / total loans and leases + OREO 0.61 % 0.66 % Non-performing assets / total assets 0.41 % 0.44 % |
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 (4) Current Total Loans and Leases Originated Loans and Leases June 30, 2018 Commercial real estate $ 10,476 $ 2 $ 14,652 $ 25,130 $ 5,729,237 $ 5,754,367 Commercial and industrial 5,663 3 23,367 29,033 3,768,740 3,797,773 Commercial leases 861 — 1,218 2,079 335,318 337,397 Other 163 204 1,000 1,367 41,984 43,351 Total commercial loans and leases 17,163 209 40,237 57,609 9,875,279 9,932,888 Direct installment 9,317 4,028 7,402 20,747 1,751,343 1,772,090 Residential mortgages 10,046 1,596 6,882 18,524 2,279,034 2,297,558 Indirect installment 7,592 355 2,152 10,099 1,736,253 1,746,352 Consumer lines of credit 4,187 1,039 3,280 8,506 1,127,787 1,136,293 Total consumer loans 31,142 7,018 19,716 57,876 6,894,417 6,952,293 Total originated loans and leases $ 48,305 $ 7,227 $ 59,953 $ 115,485 $ 16,769,696 $ 16,885,181 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 (in thousands) 30-89 Days Past Due > 90 Days Past Due and Still Accruing Non- Accrual Total Past Due (1) (2) (3) Current (Discount) Premium Total Loans Acquired Loans June 30, 2018 Commercial real estate $ 20,622 $ 53,440 $ 3,231 $ 77,293 $ 3,181,557 $ (178,895 ) $ 3,079,955 Commercial and industrial 1,620 3,498 4,347 9,465 526,830 (32,681 ) 503,614 Total commercial loans 22,242 56,938 7,578 86,758 3,708,387 (211,576 ) 3,583,569 Direct installment 3,766 1,131 — 4,897 115,496 (403 ) 119,990 Residential mortgages 10,424 7,697 — 18,121 552,387 (17,096 ) 553,412 Indirect installment — 1 — 1 1 155 157 Consumer lines of credit 7,042 2,122 1,165 10,329 518,027 (11,083 ) 517,273 Total consumer loans 21,232 10,951 1,165 33,348 1,185,911 (28,427 ) 1,190,832 Total acquired loans $ 43,474 $ 67,889 $ 8,743 $ 120,106 $ 4,894,298 $ (240,003 ) $ 4,774,401 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 (1) Past due information for acquired loans is based on the contractual balance outstanding at June 30, 2018 and December 31, 2017 . (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. (3) Approximately $28.5 million of acquired past-due or non-accrual loans were sold during the second quarter of 2018. (4) Approximately $14.7 million of originated past-due or non-accrual loans were sold during the second quarter of 2018. |
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 June 30, 2018 Commercial real estate $ 5,499,238 $ 131,806 $ 123,297 $ 26 $ 5,754,367 Commercial and industrial 3,537,536 176,599 79,246 4,392 3,797,773 Commercial leases 326,574 2,274 8,549 — 337,397 Other 42,037 110 1,204 — 43,351 Total originated commercial loans and leases $ 9,405,385 $ 310,789 $ 212,296 $ 4,418 $ 9,932,888 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 Acquired Loans June 30, 2018 Commercial real estate $ 2,661,433 $ 200,723 $ 217,626 $ 173 $ 3,079,955 Commercial and industrial 434,731 26,981 41,902 — 503,614 Total acquired commercial loans $ 3,096,164 $ 227,704 $ 259,528 $ 173 $ 3,583,569 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 |
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 June 30, 2018 Direct installment $ 1,756,297 $ 15,793 $ 1,772,090 Residential mortgages 2,279,790 17,768 2,297,558 Indirect installment 1,744,007 2,345 1,746,352 Consumer lines of credit 1,131,322 4,971 1,136,293 Total originated consumer loans $ 6,911,416 $ 40,877 $ 6,952,293 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 Acquired loans June 30, 2018 Direct installment $ 119,921 $ 69 $ 119,990 Residential mortgages 553,412 — 553,412 Indirect installment 157 — 157 Consumer lines of credit 515,659 1,614 517,273 Total acquired consumer loans $ 1,189,149 $ 1,683 $ 1,190,832 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 |
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 Six Months Ended June 30, 2018 Commercial real estate $ 16,428 $ 14,308 $ 201 $ 14,509 $ 26 $ 20,912 Commercial and industrial 28,738 13,020 10,787 23,807 4,392 23,688 Commercial leases 1,218 1,218 — 1,218 — 1,309 Other — — — — — — Total commercial loans and leases 46,384 28,546 10,988 39,534 4,418 45,909 Direct installment 18,603 15,793 — 15,793 — 15,693 Residential mortgages 19,180 17,768 — 17,768 — 16,973 Indirect installment 4,579 2,345 — 2,345 — 2,387 Consumer lines of credit 6,735 4,971 — 4,971 — 4,741 Total consumer loans 49,097 40,877 — 40,877 — 39,794 Total $ 95,481 $ 69,423 $ 10,988 $ 80,411 $ 4,418 $ 85,703 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 |
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: (in thousands) June 30, December 31, Commercial real estate $ 2,892 $ 4,976 Commercial and industrial 78 (415 ) Total commercial loans 2,970 4,561 Direct installment 562 1,553 Residential mortgages 191 484 Indirect installment 250 177 Consumer lines of credit (14 ) (77 ) Total consumer loans 989 2,137 Total allowance on acquired loans $ 3,959 $ 6,698 |
Summary of the composition of total TDRs | Following is a summary of the composition of total TDRs: (in thousands) Originated Acquired Total June 30, 2018 Accruing: Performing $ 19,352 $ 168 $ 19,520 Non-performing 21,689 3,131 24,820 Non-accrual 9,323 51 9,374 Total TDRs $ 50,364 $ 3,350 $ 53,714 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 |
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: (in thousands) June 30, December 31, Specific reserves for commercial TDRs $ 14 $ 95 Pooled reserves for individual commercial loans 529 469 |
Summary of Troubled Debt Restructurings by Class of Loans | Following is a summary of TDR loans, by class: Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 (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 1 $ 125 $ 122 1 $ 125 $ 122 Commercial and industrial 13 862 780 13 2,524 1,384 Total commercial loans 14 987 902 14 2,649 1,506 Direct installment 178 2,372 2,276 357 3,404 3,209 Residential mortgages 8 304 298 19 807 799 Indirect installment 7 11 11 16 24 23 Consumer lines of credit 22 382 298 41 709 513 Total consumer loans 215 3,069 2,883 433 4,944 4,544 Total 229 $ 4,056 $ 3,785 447 $ 7,593 $ 6,050 Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 (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 1 $ 463 $ 463 2 $ 595 $ 566 Commercial and industrial 2 4,038 4,204 2 3,542 4,204 Total commercial loans 3 4,501 4,667 4 4,137 4,770 Direct installment 162 1,448 1,301 333 2,951 2,688 Residential mortgages 9 405 345 16 570 497 Indirect installment 4 15 14 9 31 27 Consumer lines of credit 21 311 208 43 1,054 905 Total consumer loans 196 2,179 1,868 401 4,606 4,117 Total 199 $ 6,680 $ 6,535 405 $ 8,743 $ 8,887 |
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. Three Months Ended Six Months Ended (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Direct installment 41 $ 202 78 $ 304 Residential mortgages 3 146 6 293 Indirect installment 5 10 9 15 Consumer lines of credit 2 56 3 252 Total consumer loans 51 414 96 864 Total 51 $ 414 96 $ 864 Three Months Ended Six Months Ended (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial and industrial 2 $ 312 3 $ 326 Total commercial loans 2 312 3 326 Direct installment 31 134 55 146 Residential mortgages 1 80 4 264 Indirect installment 6 19 10 19 Consumer lines of credit 1 63 1 63 Total consumer loans 39 296 70 492 Total 41 $ 608 73 $ 818 |
ALLOWANCE FOR CREDIT LOSSES (Ta
ALLOWANCE FOR CREDIT LOSSES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 Period Charge- Offs Recoveries Net Charge- Offs Provision for Credit Losses Balance at End of Period Three Months Ended June 30, 2018 Commercial real estate $ 53,516 $ (4,254 ) $ 765 $ (3,489 ) $ 560 $ 50,587 Commercial and industrial 53,013 (6,127 ) 1,157 (4,970 ) 5,646 53,689 Commercial leases 6,115 (36 ) 14 (22 ) 946 7,039 Other 1,995 (1,578 ) 272 (1,306 ) 1,307 1,996 Total commercial loans and leases 114,639 (11,995 ) 2,208 (9,787 ) 8,459 113,311 Direct installment 20,128 (2,922 ) 463 (2,459 ) 2,610 20,279 Residential mortgages 15,280 (314 ) 16 (298 ) 181 15,163 Indirect installment 11,955 (2,218 ) 974 (1,244 ) 2,690 13,401 Consumer lines of credit 10,408 (1,105 ) 62 (1,043 ) 1,096 10,461 Total consumer loans 57,771 (6,559 ) 1,515 (5,044 ) 6,577 59,304 Total allowance on originated loans and leases 172,410 (18,554 ) 3,723 (14,831 ) 15,036 172,615 Purchased credit-impaired loans 622 — — — 2 624 Other acquired loans 6,215 (4,076 ) 680 (3,396 ) 516 3,335 Total allowance on acquired loans 6,837 (4,076 ) 680 (3,396 ) 518 3,959 Total allowance $ 179,247 $ (22,630 ) $ 4,403 $ (18,227 ) $ 15,554 $ 176,574 Six Months Ended June 30, 2018 Commercial real estate $ 50,281 $ (4,479 ) $ 1,102 $ (3,377 ) $ 3,683 $ 50,587 Commercial and industrial 51,963 (12,047 ) 1,526 (10,521 ) 12,247 53,689 Commercial leases 5,646 (207 ) 24 (183 ) 1,576 7,039 Other 1,843 (2,375 ) 569 (1,806 ) 1,959 1,996 Total commercial loans and leases 109,733 (19,108 ) 3,221 (15,887 ) 19,465 113,311 Direct installment 20,936 (6,392 ) 903 (5,489 ) 4,832 20,279 Residential mortgages 15,507 (393 ) 107 (286 ) (58 ) 15,163 Indirect installment 11,967 (4,627 ) 1,869 (2,758 ) 4,192 13,401 Consumer lines of credit 10,539 (1,636 ) 183 (1,453 ) 1,375 10,461 Total consumer loans 58,949 (13,048 ) 3,062 (9,986 ) 10,341 59,304 Total allowance on originated loans and leases 168,682 (32,156 ) 6,283 (25,873 ) 29,806 172,615 Purchased credit-impaired loans 635 — — — (11 ) 624 Other acquired loans 6,063 (4,385 ) 1,403 (2,982 ) 254 3,335 Total allowance on acquired loans 6,698 (4,385 ) 1,403 (2,982 ) 243 3,959 Total allowance for credit losses $ 175,380 $ (36,541 ) $ 7,686 $ (28,855 ) $ 30,049 $ 176,574 (in thousands) Balance at Beginning of Period Charge- Offs Recoveries Net Charge- Offs Provision for Credit Losses Balance at End of Period Three Months Ended June 30, 2017 Commercial real estate $ 46,389 $ (318 ) $ 505 $ 187 $ 382 $ 46,958 Commercial and industrial 53,570 (7,736 ) 183 (7,553 ) 8,091 54,108 Commercial leases 3,513 (208 ) 3 (205 ) 814 4,122 Other 1,809 (821 ) 353 (468 ) 497 1,838 Total commercial loans and leases 105,281 (9,083 ) 1,044 (8,039 ) 9,784 107,026 Direct installment 20,210 (3,245 ) 581 (2,664 ) 3,190 20,736 Residential mortgages 10,210 (182 ) 10 (172 ) 1,214 11,252 Indirect installment 9,630 (1,966 ) 614 (1,352 ) 2,296 10,574 Consumer lines of credit 8,883 (583 ) 150 (433 ) 1,054 9,504 Total consumer loans 48,933 (5,976 ) 1,355 (4,621 ) 7,754 52,066 Total allowance on originated loans and leases 154,214 (15,059 ) 2,399 (12,660 ) 17,538 159,092 Purchased credit-impaired loans 660 (1 ) — (1 ) (19 ) 640 Other acquired loans 5,908 (74 ) 896 822 (763 ) 5,967 Total allowance on acquired loans 6,568 (75 ) 896 821 (782 ) 6,607 Total allowance $ 160,782 $ (15,134 ) $ 3,295 $ (11,839 ) $ 16,756 $ 165,699 Six Months Ended June 30, 2017 Commercial real estate $ 46,635 $ (1,306 ) $ 866 $ (440 ) $ 763 $ 46,958 Commercial and industrial 47,991 (10,199 ) 657 (9,542 ) 15,659 54,108 Commercial leases 3,280 (714 ) 4 (710 ) 1,552 4,122 Other 1,392 (1,794 ) 680 (1,114 ) 1,560 1,838 Total commercial loans and leases 99,298 (14,013 ) 2,207 (11,806 ) 19,534 107,026 Direct installment 21,391 (6,119 ) 1,209 (4,910 ) 4,255 20,736 Residential mortgages 10,082 (362 ) 171 (191 ) 1,361 11,252 Indirect installment 10,564 (4,336 ) 1,395 (2,941 ) 2,951 10,574 Consumer lines of credit 9,456 (1,041 ) 315 (726 ) 774 9,504 Total consumer loans 51,493 (11,858 ) 3,090 (8,768 ) 9,341 52,066 Total allowance on originated loans and leases 150,791 (25,871 ) 5,297 (20,574 ) 28,875 159,092 Purchased credit-impaired loans 572 (1 ) — (1 ) 69 640 Other acquired loans 6,696 (556 ) 1,165 609 (1,338 ) 5,967 Total allowance on acquired loans 7,268 (557 ) 1,165 608 (1,269 ) 6,607 Total allowance for credit losses $ 158,059 $ (26,428 ) $ 6,462 $ (19,966 ) $ 27,606 $ 165,699 |
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 June 30, 2018 Commercial real estate $ 26 $ 50,561 $ 5,754,367 $ 8,521 $ 5,745,846 Commercial and industrial 4,392 49,297 3,797,773 18,482 3,779,291 Commercial leases — 7,039 337,397 — 337,397 Other — 1,996 43,351 — 43,351 Total commercial loans and leases 4,418 108,893 9,932,888 27,003 9,905,885 Direct installment — 20,279 1,772,090 — 1,772,090 Residential mortgages — 15,163 2,297,558 — 2,297,558 Indirect installment — 13,401 1,746,352 — 1,746,352 Consumer lines of credit — 10,461 1,136,293 — 1,136,293 Total consumer loans — 59,304 6,952,293 — 6,952,293 Total $ 4,418 $ 168,197 $ 16,885,181 $ 27,003 $ 16,858,178 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 |
LOAN SERVICING (Tables)
LOAN SERVICING (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Mortgage Servicing Rights [Member] | |
Servicing Assets at Fair Value [Line Items] | |
Servicing Asset at Amortized Cost | The unpaid principal balance of mortgage loans serviced for others, as of June 30, 2018 and December 31, 2017 , is listed below: (in thousands) June 30, December 31, 2017 Mortgage loans sold with servicing retained $ 3,605,603 $ 3,256,548 The following table summarizes activity relating to mortgage loans sold with servicing retained: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Mortgage loans sold with servicing retained $ 282,756 $ 226,600 $ 519,649 $ 356,443 Pretax gains resulting from above loan sales (1) 5,024 5,633 8,822 9,271 Mortgage servicing fees (1) 2,223 2,007 4,397 3,610 (1) Recorded in mortgage banking operations. Following is a summary of the MSR activity: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Balance at beginning of period $ 30,791 $ 22,866 $ 29,053 $ 13,521 Fair value of MSRs acquired — — — 8,553 Additions 3,315 2,576 6,025 4,030 Payoffs and curtailments (504 ) (441 ) (909 ) (580 ) Amortization (632 ) (557 ) (1,199 ) (1,080 ) Balance at end of period $ 32,970 $ 24,444 $ 32,970 $ 24,444 Fair value, beginning of period $ 36,445 $ 26,962 $ 32,419 $ 17,546 Fair value, end of period 38,603 27,173 38,603 27,173 |
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: (dollars in thousands) June 30, December 31, Weighted average life (months) 84.8 80.4 Constant prepayment rate (annualized) 9.1 % 9.9 % Discount rate 9.9 % 9.9 % Effect on fair value due to change in interest rates: +0.25% $ 1,286 $ 1,737 +0.50% 2,319 3,220 -0.25% (1,584 ) (1,937 ) -0.50% (3,498 ) (4,007 ) |
SBA-Guaranteed Loan Servicing [Member] | |
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 June 30, 2018 and December 31, 2017 , was as follows: (in thousands) June 30, December 31, SBA loans sold to investors with servicing retained $ 305,632 $ 305,977 The following table summarizes activity relating to SBA loans sold with servicing retained: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 SBA loans sold with servicing retained $ 11,225 $ 15,142 $ 23,513 $ 24,518 Pretax gains resulting from above loan sales (1) 1,171 816 2,272 816 SBA servicing fees (1) 699 627 1,449 742 (1) Recorded in non-interest income. Following is a summary of the activity in SBA servicing rights: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Balance at beginning of period $ 5,062 $ 5,339 $ 5,058 $ — Fair value of servicing rights acquired — — — 5,399 Additions 258 264 646 264 Impairment (charge) / recovery (139 ) — (229 ) — Amortization (287 ) (319 ) (581 ) (379 ) Balance at end of period $ 4,894 $ 5,284 $ 4,894 $ 5,284 Fair value, beginning of period $ 5,062 $ 5,339 $ 5,058 $ — Fair value, end of period 4,894 5,299 4,894 5,299 |
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: June 30, 2018 December 31, 2017 Decline in fair value due to Decline in fair value due to (dollars in thousands) Actual 10% adverse change 20% adverse change 1% adverse change 2% adverse change Actual 10% adverse change 20% adverse change 1% adverse change 2% adverse change Weighted-average life (months) 58.2 63.5 Constant prepayment rate (annualized) 10.51 % $ (161 ) $ (312 ) $ — $ — 9.29 % $ (145 ) $ (284 ) $ — $ — Discount rate 15.08 — — (138 ) (269 ) 14.87 — — (147 ) (286 ) |
BORROWINGS (Tables)
BORROWINGS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
Summary of Short-Term Borrowings | Following is a summary of short-term borrowings: (in thousands) June 30, December 31, Securities sold under repurchase agreements $ 239,804 $ 256,017 Federal Home Loan Bank advances 2,800,000 2,285,000 Federal funds purchased 1,165,000 1,000,000 Subordinated notes 129,342 137,320 Total short-term borrowings $ 4,334,146 $ 3,678,337 |
Summary of Long-Term Borrowings | Following is a summary of long-term borrowings: (in thousands) June 30, December 31, Federal Home Loan Bank advances $ 270,045 $ 310,061 Subordinated notes 88,762 87,614 Junior subordinated debt 110,587 110,347 Other subordinated debt 159,544 160,151 Total long-term borrowings $ 628,938 $ 668,173 |
Junior Subordinated Debt Trusts | The following table provides information relating to the Trusts as of June 30, 2018 : (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 3.99 % LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,493 10/18/2034 4.55 % LIBOR + 219 bps Yadkin Valley Statutory Trust I 25,000 774 20,987 12/15/2037 3.66 % LIBOR + 132 bps FNB Financial Services Capital Trust I 25,000 774 21,916 9/30/2035 3.80 % LIBOR + 146 bps American Community Capital Trust II 10,000 310 10,444 12/15/2033 5.11 % LIBOR + 280 bps Crescent Financial Capital Trust I 8,000 248 8,582 10/7/2033 5.45 % LIBOR + 310 bps Total $ 115,500 $ 3,885 $ 110,587 |
DERIVATIVE INSTRUMENTS AND HE35
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosures [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. June 30, 2018 December 31, 2017 Notional Fair Value Notional Fair Value (in thousands) Amount Asset Liability Amount Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 855,000 $ — $ 4,372 $ 705,000 $ 228 $ 1,982 Interest rate swaps – not designated 2,542,255 4,755 7,974 2,245,442 1,169 11,599 Equity contracts – not designated 1,180 30 — 1,180 51 — Total subject to master netting arrangements 3,398,435 4,785 12,346 2,951,622 1,448 13,581 Not subject to master netting arrangements: Interest rate swaps – not designated 2,542,255 14,219 53,724 2,245,442 27,233 15,303 Interest rate lock commitments – not designated 91,659 1,662 7 88,107 1,594 5 Forward delivery commitments – not designated 107,830 221 336 106,572 233 148 Credit risk contracts – not designated 243,297 — — 235,196 39 109 Equity contracts – not designated 1,180 — 30 1,180 — 51 Total not subject to master netting arrangements 2,986,221 16,102 54,097 2,676,497 29,099 15,616 Total $ 6,384,656 $ 20,887 $ 66,443 $ 5,628,119 $ 30,547 $ 29,197 |
Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI) | The following table shows amounts reclassified from accumulated other comprehensive income for the six months ended June 30, 2018 : (in thousands) Total Net of Tax Reclassified from AOCI to interest income $ 25 $ 20 Reclassified from AOCI to interest expense (902 ) (713 ) |
Effect of Derivative Financial Instruments on Income Statement | The following table presents the effect of certain derivative financial instruments on the Income Statement: Six Months Ended (in thousands) Income Statement Location 2018 2017 Interest Rate Contracts Interest income - loans and leases $ 25 $ 900 Interest Rate Contracts Interest expense – short-term borrowings (902 ) 652 Interest Rate Swaps Other income 1,259 (465 ) Credit Risk Contracts Other income 70 21 |
Designated as Hedging Instrument [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate contracts: (in thousands) June 30, December 31, Notional amount $ 855,000 $ 705,000 Fair value included in other assets — 228 Fair value included in other liabilities 4,372 1,982 |
Not Designated as Hedging Instrument [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate swaps: (in thousands) June 30, December 31, Notional amount $ 5,084,510 $ 4,490,884 Fair value included in other assets 18,974 28,402 Fair value included in other liabilities 61,698 26,902 |
Counter Party [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
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 Balance Sheet (in thousands) Net Amount Presented in the Balance Sheet Financial Instruments Cash Collateral Net Amount June 30, 2018 Derivative Assets Interest rate contracts: Designated $ — $ — — $ — Not designated 4,755 4,704 — 51 Equity contracts – not designated 30 30 — — Total $ 4,785 $ 4,734 — $ 51 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 | 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 Balance Sheet (in thousands) Net Amount Presented in the Balance Sheet Financial Instruments Cash Collateral Net Amount June 30, 2018 Derivative Liabilities Interest rate contracts: Designated $ 4,372 $ 4,372 — $ — Not designated 7,974 7,579 — 395 Total $ 12,346 $ 11,951 — $ 395 December 31, 2017 Derivative Liabilities Interest rate contracts: Designated $ 1,982 $ 1,982 $ — $ — Not designated 11,599 10,940 — 659 Total $ 13,581 $ 12,922 $ — $ 659 |
COMMITMENTS, CREDIT RISK AND 36
COMMITMENTS, CREDIT RISK AND CONTINGENCIES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-Balance Sheet Credit Risk Information | Following is a summary of off-balance sheet credit risk information: (in thousands) June 30, December 31, Commitments to extend credit $ 7,223,071 $ 6,957,822 Standby letters of credit 137,054 132,904 |
STOCK INCENTIVE PLANS (Tables)
STOCK INCENTIVE PLANS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Restricted Stock Units Activity | The following table details our issuance of restricted stock units and the aggregate weighted average grant date fair values under these plans for the years indicated. Six Months Ended (dollars in thousands) 2018 2017 Restricted stock units 937,155 707,851 Weighted average grant date fair values $ 12,370 $ 10,398 |
Summary of Activity Relating to Restricted Stock Units | The following table summarizes the activity relating to restricted stock units during the periods indicated: Six Months Ended June 30, 2018 2017 Units Weighted Average Grant Price per Share Units Weighted Average Grant Price per Share Unvested units outstanding at beginning of period 1,975,862 $ 13.64 1,836,363 $ 12.97 Granted 937,155 13.20 707,851 14.69 Vested (257,712 ) 13.18 (592,202 ) 12.84 Forfeited/expired (180,723 ) 13.30 (14,679 ) 13.23 Dividend reinvestment 38,129 14.02 28,454 14.49 Unvested units outstanding at end of period 2,512,711 13.56 1,965,787 13.65 |
Schedule of Certain Information Related to Restricted Stock Units | The following table provides certain information related to restricted stock units: (in thousands) Six Months Ended 2018 2017 Stock-based compensation expense $ 4,699 $ 3,958 Tax benefit related to stock-based compensation expense 987 1,385 Fair value of units vested 3,472 8,013 |
Components of Restricted Stock Units | The components of the restricted stock units as of June 30, 2018 are as follows: (dollars in thousands) Service- Based Units Performance- Based Units Total Unvested restricted stock units 1,449,400 1,063,311 2,512,711 Unrecognized compensation expense $ 12,405 $ 6,646 $ 19,051 Intrinsic value $ 19,451 $ 14,270 $ 33,721 Weighted average remaining life (in years) 2.29 2.05 2.19 |
Summary of Activity Relating to Stock Options | The following table summarizes the activity relating to stock options during the periods indicated: Six Months Ended June 30, 2018 2017 Shares Weighted Average Exercise Price per Share Shares Weighted Average Exercise Price per Share Options outstanding at beginning of period 722,650 $ 7.96 892,532 $ 8.95 Assumed from acquisitions — — 207,645 8.92 Exercised (197,390 ) 7.93 (155,597 ) 9.43 Forfeited/expired (4,598 ) 11.65 (56,510 ) 11.17 Options outstanding and exercisable at end of period 520,662 7.96 888,070 8.72 |
RETIREMENT PLANS (Tables)
RETIREMENT PLANS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Retirement Benefits [Abstract] | |
Schedule of Contribution Expense | Our contribution expense is presented in the following table: Six Months Ended (in thousands) 2018 2017 401(k) contribution expense $ 8,146 $ 6,150 |
Net Periodic Benefit Credit for Defined Benefit Plans | The net periodic benefit credit for these plans includes the following components: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Service cost $ (4 ) $ (4 ) $ (8 ) $ (8 ) Interest cost 1,560 1,477 3,120 2,954 Expected return on plan assets (2,895 ) (2,427 ) (5,790 ) (4,854 ) Amortization: Unrecognized prior service cost — 2 — 4 Unrecognized loss 623 628 1,246 1,256 Net periodic pension credit $ (716 ) $ (324 ) $ (1,432 ) $ (648 ) |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | Federal and state income tax expense and the statutory tax rate and the actual effective tax rate consist of the following: Three Months Ended Six Months Ended (in thousands) 2018 2017 2018 2017 Current income taxes: Federal taxes $ 5,749 $ 6,602 $ 23,449 $ 13,290 State taxes 1,045 1,086 2,749 1,585 Total current income taxes 6,794 7,688 26,198 14,875 Deferred income taxes: Federal taxes 13,256 22,460 15,158 24,150 State taxes 421 (531 ) 383 (2,924 ) Total deferred income taxes 13,677 21,929 15,541 21,226 Total income taxes $ 20,471 $ 29,617 $ 41,739 $ 36,101 Statutory tax rate 21.0 % 35.0 % 21.0 % 35.0 % Effective tax rate 19.4 % 28.5 % 19.5 % 27.0 % |
OTHER COMPREHENSIVE INCOME (Tab
OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 Losses on Debt Securities Available for Sale Unrealized Net Gains (Losses) on Derivative Instruments Unrecognized Pension and Postretirement Obligations Total Six Months Ended June 30, 2018 Balance at beginning of period $ (29,626 ) $ 5,407 $ (58,833 ) $ (83,052 ) Other comprehensive (loss) income before reclassifications (38,660 ) 5,600 972 (32,088 ) Amounts reclassified from AOCI (24 ) (721 ) — (745 ) Net current period other comprehensive (loss) income (38,684 ) 4,879 972 (32,833 ) Balance at end of period $ (68,310 ) $ 10,286 $ (57,861 ) $ (115,885 ) |
EARNINGS PER COMMON SHARE (Tabl
EARNINGS PER COMMON SHARE (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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: Three Months Ended Six Months Ended ( dollars in thousands, except per share data) 2018 2017 2018 2017 Net income $ 85,206 $ 74,406 $ 171,968 $ 97,385 Less: Preferred stock dividends 2,010 2,010 4,020 4,020 Net income available to common stockholders $ 83,196 $ 72,396 $ 167,948 $ 93,365 Basic weighted average common shares outstanding 324,170,177 323,303,460 323,956,752 280,578,720 Net effect of dilutive stock options, warrants and restricted stock 1,559,872 1,564,299 1,772,440 1,706,762 Diluted weighted average common shares outstanding 325,730,049 324,867,759 325,729,192 282,285,482 Earnings per common share: Basic $ 0.26 $ 0.22 $ 0.52 $ 0.33 Diluted $ 0.26 $ 0.22 $ 0.52 $ 0.33 |
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: Three Months Ended Six Months Ended 2018 2017 2018 2017 Average shares excluded from the diluted earnings per common share calculation 72 1,266 46 8,107 |
CASH FLOW INFORMATION (Tables)
CASH FLOW INFORMATION (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Supplemental Cash Flow Information | Following is a summary of supplemental cash flow information: Six Months Ended 2018 2017 (in thousands) Interest paid on deposits and other borrowings $ 98,926 $ 51,611 Income taxes paid 6,000 43,500 Transfers of loans to other real estate owned 7,967 22,451 |
BUSINESS SEGMENTS (Tables)
BUSINESS SEGMENTS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
Financial Information for Segments | 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 Management Insurance Consumer Finance Parent and Other Consolidated At or for the Three Months Ended June 30, 2018 Interest income $ 284,768 $ — $ 19 $ 9,349 $ (19 ) $ 294,117 Interest expense 50,118 — — 885 3,759 54,762 Net interest income 234,650 — 19 8,464 (3,778 ) 239,355 Provision for credit losses 13,277 — — 2,277 — 15,554 Non-interest income 51,137 11,239 3,695 653 (1,835 ) 64,889 Non-interest expense (1) 159,675 8,694 3,895 5,293 1,645 179,202 Amortization of intangibles 3,699 60 52 — — 3,811 Income tax expense (benefit) 21,291 581 (43 ) 444 (1,802 ) 20,471 Net income (loss) 87,845 1,904 (190 ) 1,103 (5,456 ) 85,206 Total assets 32,034,457 25,152 22,114 167,678 8,162 32,257,563 Total intangibles 2,311,429 10,067 12,140 1,809 — 2,335,445 At or for the Three Months Ended June 30, 2017 Interest income $ 241,917 $ — $ 19 $ 10,114 $ (1,016 ) $ 251,034 Interest expense 28,414 — — 888 3,317 32,619 Net interest income 213,503 — 19 9,226 (4,333 ) 218,415 Provision for credit losses 14,738 — — 2,018 — 16,756 Non-interest income 53,031 9,821 3,496 770 (1,040 ) 66,078 Non-interest expense (1) 141,441 7,987 3,456 5,288 729 158,901 Amortization of intangibles 4,694 65 54 — — 4,813 Income tax expense (benefit) 30,200 651 10 1,073 (2,317 ) 29,617 Net income (loss) 75,461 1,118 (5 ) 1,617 (3,785 ) 74,406 Total assets 30,487,402 22,028 22,311 183,859 38,126 30,753,726 Total intangibles 2,322,326 10,288 12,231 1,809 — 2,346,654 (1) Excludes amortization of intangibles, which is presented separately. (in thousands) Community Banking Wealth Management Insurance Consumer Finance Parent and Other Consolidated At or for the Six Months Ended June 30, 2018 Interest income $ 548,355 $ — $ 39 $ 18,643 $ 7 $ 567,044 Interest expense 92,478 — — 1,795 7,311 101,584 Net interest income 455,877 — 39 16,848 (7,304 ) 465,460 Provision for credit losses 25,689 — — 4,360 — 30,049 Non-interest income 104,449 22,241 7,998 1,291 (3,587 ) 132,392 Non-interest expense (1) 308,342 16,972 7,606 10,523 2,624 346,067 Amortization of intangibles 7,804 121 104 — — 8,029 Income tax expense (benefit) 43,011 1,170 81 918 (3,441 ) 41,739 Net income (loss) 175,480 3,978 246 2,338 (10,074 ) 171,968 Total assets 32,034,457 25,152 22,114 167,678 8,162 32,257,563 Total intangibles 2,311,429 10,067 12,140 1,809 — 2,335,445 At or for the Six Months Ended June 30, 2017 Interest income $ 427,298 $ — $ 39 $ 20,016 $ (1,626 ) $ 445,727 Interest expense 47,279 — — 1,810 5,471 54,560 Net interest income 380,019 — 39 18,206 (7,097 ) 391,167 Provision for credit losses 23,802 — — 3,804 — 27,606 Non-interest income 93,748 19,370 7,821 1,480 (1,225 ) 121,194 Non-interest expense (1) 309,725 15,527 6,771 10,519 816 343,358 Amortization of intangibles 7,676 126 109 — — 7,911 Income tax expense (benefit) 36,511 1,362 357 2,140 (4,269 ) 36,101 Net income (loss) 96,053 2,355 623 3,223 (4,869 ) 97,385 Total assets 30,487,402 22,028 22,311 183,859 38,126 30,753,726 Total intangibles 2,322,326 10,288 12,231 1,809 — 2,346,654 (1) Excludes amortization of intangibles, which is presented separately. |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018 Assets Measured at Fair Value Debt securities available for sale U.S. government agencies $ — $ 95,526 $ — $ 95,526 U.S. government-sponsored entities — 306,934 — 306,934 Residential mortgage-backed securities: Agency mortgage-backed securities — 1,577,596 — 1,577,596 Agency collateralized mortgage obligations — 831,817 — 831,817 Non-agency collateralized mortgage obligations — — — — Commercial mortgage-backed securities — 168,324 — 168,324 States of the U.S. and political subdivisions — 20,735 — 20,735 Other debt securities — 1,855 — 1,855 Total debt securities available for sale — 3,002,787 — 3,002,787 Loans held for sale — 28,213 — 28,213 Marketable equity securities Fixed income mutual fund 177 — — 177 Financial services industry — 995 — 995 Total marketable equity securities 177 995 — 1,172 Derivative financial instruments Trading — 19,004 — 19,004 Not for trading — 221 1,662 1,883 Total derivative financial instruments — 19,225 1,662 20,887 Total assets measured at fair value on a recurring basis $ 177 $ 3,051,220 $ 1,662 $ 3,053,059 Liabilities Measured at Fair Value Derivative financial instruments Trading $ — $ 61,728 $ — $ 61,728 Not for trading — 4,708 7 4,715 Total derivative financial instruments — 66,436 7 66,443 Total liabilities measured at fair value on a recurring basis $ — $ 66,436 $ 7 $ 66,443 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2017 Assets Measured at Fair Value Debt securities available for sale 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 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 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 |
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 Debt Securities Equity Securities Residential Non-Agency Collateralized Mortgage Obligations Interest Rate Lock Commitments Total Six Months Ended June 30, 2018 Balance at beginning of period $ — $ — $ — $ 1,594 $ 1,594 Purchases, issuances, sales and settlements: Purchases — — — 1,662 1,662 Settlements — — — (1,594 ) (1,594 ) Balance at end of period $ — $ — $ — $ 1,662 $ 1,662 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 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 |
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 June 30, 2018 Impaired loans $ — $ 1,460 $ 6,135 $ 7,595 Other real estate owned — — 5,500 5,500 Other assets - SBA servicing asset — — 4,894 4,894 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 |
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 June 30, 2018 Financial Assets Cash and cash equivalents $ 433,699 $ 433,699 $ 433,699 $ — $ — Debt securities available for sale 3,002,787 3,002,787 — 3,002,787 — Debt securities held to maturity 3,295,081 3,181,275 — 3,181,275 — Net loans and leases, including loans held for sale 21,527,120 21,163,711 — 28,213 21,135,498 Loan servicing rights 37,864 43,497 — — 43,497 Marketable equity securities 1,172 1,172 177 995 — Derivative assets 20,887 20,887 — 19,225 1,662 Accrued interest receivable 93,210 93,210 93,210 — — Financial Liabilities Deposits 22,539,787 22,481,472 17,668,799 4,812,673 — Short-term borrowings 4,334,146 4,334,835 4,334,835 — — Long-term borrowings 628,938 624,104 — — 624,104 Derivative liabilities 66,443 66,443 — 66,436 7 Accrued interest payable 15,138 15,138 15,138 — — 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 — Debt 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 — — |
NATURE OF OPERATIONS (Detail)
NATURE OF OPERATIONS (Detail) | 6 Months Ended |
Jun. 30, 2018OfficeState | |
Segment Reporting Information [Line Items] | |
Number of states, Company operating financial services | State | 8 |
Number of banking offices | 404 |
Number of consumer finance offices | 77 |
Minimum [Member] | |
Segment Reporting Information [Line Items] | |
Years of service (over) | 150 years |
SUMMARY OF SIGNIFICANT ACCOUN46
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail) - USD ($) $ in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Accounting Policies [Abstract] | ||
Net investment in LIHTCs | $ 27.3 | $ 20.9 |
Qualified affordable housing project investments, commitment | $ 57 | $ 67.2 |
NEW ACCOUNTING STANDARDS (Detai
NEW ACCOUNTING STANDARDS (Details) $ in Millions | Mar. 31, 2018USD ($) |
Accounting Standards Update 2016-01 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative effect of new accounting principle in period of adoption | $ 1.1 |
MERGERS AND ACQUISITIONS - Addi
MERGERS AND ACQUISITIONS - Additional Information (Detail) - Yadkin Financial Corporation (YDKN) [Member] $ / shares in Units, $ in Billions | Mar. 11, 2017USD ($)$ / sharesshares |
Business Acquisition [Line Items] | |
Assets acquired as a result of merger | $ 6.8 |
Loans acquired as a result of merger | 5.1 |
Deposits acquired as a result of merger | 5.2 |
Value of acquisition | $ 1.8 |
Closing price of common stock (in dollars per share) | $ / shares | $ 15.97 |
Number of shares (in shares) | shares | 111,619,622 |
Common shares to be acquired (shares) | shares | 51,677,565 |
Ratio of shares entitled to receive as per merger agreement | 2.16 |
Warrant Expires in 2019 [Member] | |
Business Acquisition [Line Items] | |
Warrant issued (in shares) | shares | 207,320 |
Warrant issued, exercise price (in dollars per share) | $ / shares | $ 9.63 |
SECURITIES - Amortized Cost and
SECURITIES - Amortized Cost and Fair Value of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Debt Securities | |||
Amortized Cost | $ 3,090,527 | ||
Gross Unrealized Gains | 575 | ||
Gross Unrealized Losses | (88,315) | ||
Fair Value | 3,002,787 | ||
Equity Securities | |||
Amortized Cost | 3,090,527 | $ 2,802,621 | |
Gross Unrealized Gains | 1,721 | ||
Gross Unrealized Losses | (39,780) | ||
Securities available for sale | 3,002,787 | 2,764,562 | |
US Government Agencies [Member] | |||
Debt Securities | |||
Amortized Cost | 96,085 | ||
Gross Unrealized Gains | 0 | ||
Gross Unrealized Losses | (559) | ||
Fair Value | 95,526 | ||
U.S. Government-Sponsored Entities [Member] | |||
Debt Securities | |||
Amortized Cost | 312,903 | 347,767 | |
Gross Unrealized Gains | 0 | $ 52 | |
Gross Unrealized Losses | (5,969) | (3,877) | |
Fair Value | 306,934 | 343,942 | |
Agency Mortgage-Backed Securities [Member] | |||
Debt Securities | |||
Amortized Cost | 1,626,353 | 1,615,168 | |
Gross Unrealized Gains | 390 | 1,225 | |
Gross Unrealized Losses | (49,147) | (17,519) | |
Fair Value | 1,577,596 | 1,598,874 | |
Equity Securities | |||
Amortized Cost | 1,626,353 | ||
Securities available for sale | 1,577,596 | ||
Agency Collateralized Mortgage Obligations [Member] | |||
Debt Securities | |||
Amortized Cost | 863,976 | 813,034 | |
Gross Unrealized Gains | 29 | 0 | |
Gross Unrealized Losses | (32,188) | (18,077) | |
Fair Value | 831,817 | 794,957 | |
Equity Securities | |||
Amortized Cost | 863,976 | ||
Securities available for sale | 831,817 | ||
Non-Agency Collateralized Mortgage Obligations [Member] | |||
Debt Securities | |||
Amortized Cost | 0 | 1 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 0 | 1 | |
Commercial Mortgage-Backed Securities [Member] | |||
Debt Securities | |||
Amortized Cost | 168,466 | ||
Gross Unrealized Gains | 154 | ||
Gross Unrealized Losses | (296) | ||
Fair Value | 168,324 | ||
Equity Securities | |||
Amortized Cost | 168,466 | ||
Securities available for sale | 168,324 | ||
States of the U.S. and Political Subdivisions [Member] | |||
Debt Securities | |||
Amortized Cost | 20,795 | 21,151 | |
Gross Unrealized Gains | 2 | 6 | |
Gross Unrealized Losses | (62) | (64) | |
Fair Value | 20,735 | 21,093 | |
Other Debt Securities [Member] | |||
Debt Securities | |||
Amortized Cost | 1,949 | 4,913 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | (94) | (243) | |
Fair Value | $ 1,855 | 4,670 | |
Debt Securities [Member] | |||
Debt Securities | |||
Amortized Cost | 2,802,034 | ||
Gross Unrealized Gains | 1,283 | ||
Gross Unrealized Losses | (39,780) | ||
Fair Value | 2,763,537 | ||
Equity Securities [Member] | |||
Equity Securities | |||
Amortized Cost | 587 | ||
Gross Unrealized Gains | 438 | ||
Gross Unrealized Losses | $ 0 | ||
Fair Value | $ 1,025 |
SECURITIES - Amortized Cost a50
SECURITIES - Amortized Cost and Fair Value of Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Investment Securities Held To Maturity [Line Items] | ||
Amortized Cost | $ 3,295,081 | $ 3,242,268 |
Gross Unrealized Gains | 2,863 | 17,357 |
Gross Unrealized Losses | (116,669) | (41,246) |
Fair Value | 3,181,275 | 3,218,379 |
U.S. Treasury [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Amortized Cost | 500 | 500 |
Gross Unrealized Gains | 107 | 134 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 607 | 634 |
US Government Agencies [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Amortized Cost | 2,056 | |
Gross Unrealized Gains | 60 | |
Gross Unrealized Losses | 0 | |
Fair Value | 2,116 | |
U.S. Government-Sponsored Entities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Amortized Cost | 245,017 | 247,310 |
Gross Unrealized Gains | 0 | 93 |
Gross Unrealized Losses | (6,030) | (4,388) |
Fair Value | 238,987 | 243,015 |
Agency Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Amortized Cost | 1,125,947 | 1,219,802 |
Gross Unrealized Gains | 295 | 3,475 |
Gross Unrealized Losses | (33,439) | (9,058) |
Fair Value | 1,092,803 | 1,214,219 |
Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Amortized Cost | 840,073 | 777,146 |
Gross Unrealized Gains | 768 | 32 |
Gross Unrealized Losses | (34,063) | (20,095) |
Fair Value | 806,778 | 757,083 |
Commercial Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Amortized Cost | 79,124 | 80,786 |
Gross Unrealized Gains | 7 | 414 |
Gross Unrealized Losses | (1,555) | (575) |
Fair Value | 77,576 | 80,625 |
States of the U.S. and Political Subdivisions [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Amortized Cost | 1,002,364 | 916,724 |
Gross Unrealized Gains | 1,626 | 13,209 |
Gross Unrealized Losses | (41,582) | (7,130) |
Fair Value | $ 962,408 | $ 922,803 |
SECURITIES - Gross Gains and Gr
SECURITIES - Gross Gains and Gross Losses Realized on Sales of Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross gains | $ 31 | $ 611 | $ 31 | $ 4,011 |
Gross losses | 0 | (118) | 0 | (893) |
Net gains | $ 31 | $ 493 | $ 31 | $ 3,118 |
SECURITIES - Amortized Cost a52
SECURITIES - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule Of Securities [Line Items] | ||
Available for sale, due in one year or less, amortized cost | $ 65,485 | |
Available for sale, due from one to five years, amortized cost | 262,288 | |
Available for sale, due from five to ten years, amortized cost | 19,860 | |
Available for sale, due after ten years, amortized cost | 84,099 | |
Available for sale, with contractual maturities, amortized cost | 431,732 | |
Total securities available for sale, amortized cost | 3,090,527 | $ 2,802,621 |
Available for sale, due in one year or less, fair value | 65,271 | |
Available for sale, due from one to five years, fair value | 256,488 | |
Available for sale, due from five to ten years, fair value | 19,709 | |
Available for sale, due after ten years, fair value | 83,582 | |
Available for sale, with contractual maturities, fair value | 425,050 | |
Total securities available for sale, fair value | 3,002,787 | 2,764,562 |
Held to maturity, due in one year or less, amortized cost | 55,457 | |
Held to maturity, due from one to five years, amortized cost | 201,924 | |
Held to maturity, due from five to ten years, amortized cost | 95,166 | |
Held to maturity, due after ten years, amortized cost | 897,390 | |
Securities held to maturity, with contractual maturities, amortized cost | 1,249,937 | |
Held to maturity, with contractual maturities, amortized cost | 3,295,081 | 3,242,268 |
Held to maturity, due in one year or less, fair value | 55,236 | |
Held to maturity, due from one to five years, fair value | 196,157 | |
Held to maturity, due from five to ten years, fair value | 94,334 | |
Held to maturity, due after ten years, fair value | 858,391 | |
Securities held to maturity, with contractual maturities, fair value | 1,204,118 | |
Held to maturity, with contractual maturities, fair value | 3,181,275 | 3,218,379 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, amortized cost | 1,626,353 | |
Total securities available for sale, fair value | 1,577,596 | |
Held to maturity, with contractual maturities, amortized cost | 1,125,947 | 1,219,802 |
Held to maturity, with contractual maturities, fair value | 1,092,803 | 1,214,219 |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, amortized cost | 863,976 | |
Total securities available for sale, fair value | 831,817 | |
Held to maturity, with contractual maturities, amortized cost | 840,073 | 777,146 |
Held to maturity, with contractual maturities, fair value | 806,778 | 757,083 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, amortized cost | 168,466 | |
Total securities available for sale, fair value | 168,324 | |
Held to maturity, with contractual maturities, amortized cost | 79,124 | 80,786 |
Held to maturity, with contractual maturities, fair value | $ 77,576 | $ 80,625 |
SECURITIES - Schedule of Securi
SECURITIES - Schedule of Securities Pledged as Collateral (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Investments, Debt and Equity Securities [Abstract] | ||
Securities pledged (carrying value), to secure public deposits, trust deposits and for other purposes as required by law | $ 3,370,601 | $ 3,491,634 |
Securities pledged (carrying value), as collateral for short-term borrowings | $ 261,140 | $ 263,756 |
Securities pledged as a percent of total securities | 57.70% | 62.50% |
SECURITIES - Fair Values and Un
SECURITIES - Fair Values and Unrealized Losses of Impaired Securities, by Length of Impairment (Detail) $ in Thousands | Jun. 30, 2018USD ($)Security | Dec. 31, 2017USD ($)Security |
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 103 | 71 |
Number of available for sale securities, Greater than 1 year | Security | 75 | 75 |
Number of available for sale securities | Security | 178 | 146 |
Securities available for sale, less than 12 months, fair value | $ 1,924,893 | $ 1,503,806 |
Securities available for sale, less than 12 months, unrealized losses | (48,769) | (14,372) |
Securities available for sale, 12 months or more, fair value | 914,249 | 1,016,111 |
Securities available for sale, 12 months or more, unrealized losses | (39,546) | (25,408) |
Securities available for sale, fair value, total | 2,839,142 | 2,519,917 |
Securities available for sale, unrealized losses, total | $ (88,315) | $ (39,780) |
Number of held to maturity securities | Security | 380 | 168 |
Securities held to maturity, less than 12 months, fair value | $ 1,934,883 | $ 1,061,703 |
Securities held to maturity, less than 12 months, unrealized losses | (59,182) | (7,851) |
Securities held to maturity, greater than 12 months, fair value | 901,853 | 984,076 |
Securities held to maturity, greater than 12 months, unrealized losses | (57,487) | (33,395) |
Securities held to maturity, fair value, total | 2,836,736 | 2,045,779 |
Securities held to maturity, unrealized losses, total | $ (116,669) | $ (41,246) |
US Government Agencies [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 13 | |
Number of available for sale securities, Greater than 1 year | Security | 0 | |
Number of available for sale securities | Security | 13 | |
Securities available for sale, less than 12 months, fair value | $ 95,526 | |
Securities available for sale, less than 12 months, unrealized losses | (559) | |
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 | 95,526 | |
Securities available for sale, unrealized losses, total | $ (559) | |
U.S. Government-Sponsored Entities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 5 | 7 |
Number of available for sale securities, Greater than 1 year | Security | 10 | 10 |
Number of available for sale securities | Security | 15 | 17 |
Securities available for sale, less than 12 months, fair value | $ 106,668 | $ 106,809 |
Securities available for sale, less than 12 months, unrealized losses | (1,236) | (363) |
Securities available for sale, 12 months or more, fair value | 200,266 | 201,485 |
Securities available for sale, 12 months or more, unrealized losses | (4,733) | (3,514) |
Securities available for sale, fair value, total | 306,934 | 308,294 |
Securities available for sale, unrealized losses, total | $ (5,969) | $ (3,877) |
Number of held to maturity securities | Security | 14 | 14 |
Securities held to maturity, less than 12 months, fair value | $ 54,509 | $ 54,790 |
Securities held to maturity, less than 12 months, unrealized losses | (508) | (239) |
Securities held to maturity, greater than 12 months, fair value | 184,478 | 185,851 |
Securities held to maturity, greater than 12 months, unrealized losses | (5,522) | (4,149) |
Securities held to maturity, fair value, total | 238,987 | 240,641 |
Securities held to maturity, unrealized losses, total | $ (6,030) | $ (4,388) |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 59 | 43 |
Number of available for sale securities, Greater than 1 year | Security | 28 | 28 |
Number of available for sale securities | Security | 87 | 71 |
Securities available for sale, less than 12 months, fair value | $ 1,145,743 | $ 976,738 |
Securities available for sale, less than 12 months, unrealized losses | (30,600) | (7,723) |
Securities available for sale, 12 months or more, fair value | 418,672 | 473,625 |
Securities available for sale, 12 months or more, unrealized losses | (18,547) | (9,796) |
Securities available for sale, fair value, total | 1,564,415 | 1,450,363 |
Securities available for sale, unrealized losses, total | $ (49,147) | $ (17,519) |
Number of held to maturity securities | Security | 91 | 47 |
Securities held to maturity, less than 12 months, fair value | $ 909,762 | $ 648,485 |
Securities held to maturity, less than 12 months, unrealized losses | (25,390) | (4,855) |
Securities held to maturity, greater than 12 months, fair value | 164,501 | 183,989 |
Securities held to maturity, greater than 12 months, unrealized losses | (8,049) | (4,203) |
Securities held to maturity, fair value, total | 1,074,263 | 832,474 |
Securities held to maturity, unrealized losses, total | $ (33,439) | $ (9,058) |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 17 | 14 |
Number of available for sale securities, Greater than 1 year | Security | 33 | 33 |
Number of available for sale securities | Security | 50 | 47 |
Securities available for sale, less than 12 months, fair value | $ 491,313 | $ 409,005 |
Securities available for sale, less than 12 months, unrealized losses | (16,023) | (6,231) |
Securities available for sale, 12 months or more, fair value | 292,579 | 335,452 |
Securities available for sale, 12 months or more, unrealized losses | (16,165) | (11,846) |
Securities available for sale, fair value, total | 783,892 | 744,457 |
Securities available for sale, unrealized losses, total | $ (32,188) | $ (18,077) |
Number of held to maturity securities | Security | 52 | 49 |
Securities held to maturity, less than 12 months, fair value | $ 299,575 | $ 275,290 |
Securities held to maturity, less than 12 months, unrealized losses | (8,104) | (1,701) |
Securities held to maturity, greater than 12 months, fair value | 420,914 | 473,257 |
Securities held to maturity, greater than 12 months, unrealized losses | (25,959) | (18,394) |
Securities held to maturity, fair value, total | 720,489 | 748,547 |
Securities held to maturity, unrealized losses, total | $ (34,063) | $ (20,095) |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 2 | |
Number of available for sale securities, Greater than 1 year | Security | 0 | |
Number of available for sale securities | Security | 2 | |
Securities available for sale, less than 12 months, fair value | $ 74,167 | |
Securities available for sale, less than 12 months, unrealized losses | (296) | |
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 | 74,167 | |
Securities available for sale, unrealized losses, total | $ (296) | |
Number of held to maturity securities | Security | 12 | 5 |
Securities held to maturity, less than 12 months, fair value | $ 54,920 | $ 26,399 |
Securities held to maturity, less than 12 months, unrealized losses | (884) | (123) |
Securities held to maturity, greater than 12 months, fair value | 21,531 | 19,443 |
Securities held to maturity, greater than 12 months, unrealized losses | (671) | (452) |
Securities held to maturity, fair value, total | 76,451 | 45,842 |
Securities held to maturity, unrealized losses, total | $ (1,555) | $ (575) |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 7 | 7 |
Number of available for sale securities, Greater than 1 year | Security | 1 | 1 |
Number of available for sale securities | Security | 8 | 8 |
Securities available for sale, less than 12 months, fair value | $ 11,476 | $ 11,254 |
Securities available for sale, less than 12 months, unrealized losses | (55) | (55) |
Securities available for sale, 12 months or more, fair value | 877 | 879 |
Securities available for sale, 12 months or more, unrealized losses | (7) | (9) |
Securities available for sale, fair value, total | 12,353 | 12,133 |
Securities available for sale, unrealized losses, total | $ (62) | $ (64) |
Number of held to maturity securities | Security | 211 | 53 |
Securities held to maturity, less than 12 months, fair value | $ 616,117 | $ 56,739 |
Securities held to maturity, less than 12 months, unrealized losses | (24,296) | (933) |
Securities held to maturity, greater than 12 months, fair value | 110,429 | 121,536 |
Securities held to maturity, greater than 12 months, unrealized losses | (17,286) | (6,197) |
Securities held to maturity, fair value, total | 726,546 | 178,275 |
Securities held to maturity, unrealized losses, total | $ (41,582) | $ (7,130) |
Other Debt Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
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 | 1,855 | 4,670 |
Securities available for sale, 12 months or more, unrealized losses | (94) | (243) |
Securities available for sale, fair value, total | 1,855 | 4,670 |
Securities available for sale, unrealized losses, total | $ (94) | $ (243) |
Less Than Twelve Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 283 | 73 |
Less Than Twelve Months [Member] | U.S. Government-Sponsored Entities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 4 | 4 |
Less Than Twelve Months [Member] | Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 80 | 36 |
Less Than Twelve Months [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 17 | 14 |
Less Than Twelve Months [Member] | Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 8 | 3 |
Less Than Twelve Months [Member] | States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 174 | 16 |
Greater Than Twelve Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 97 | 95 |
Greater Than Twelve Months [Member] | U.S. Government-Sponsored Entities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 10 | 10 |
Greater Than Twelve Months [Member] | Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 11 | 11 |
Greater Than Twelve Months [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 35 | 35 |
Greater Than Twelve Months [Member] | Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 4 | 2 |
Greater Than Twelve Months [Member] | States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 37 | 37 |
SECURITIES - Additional Informa
SECURITIES - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Schedule Of Securities [Line Items] | ||
Other than temporary impairment losses, investments, available-for-sale securities | $ 0 | $ 0 |
Municipal bond portfolio, value | $ 1,000,000 | |
Percentage of formal credit enhancement insurance of municipalities | 62.00% | |
Municipal Bonds [Member] | Weighted Average [Member] | ||
Schedule Of Securities [Line Items] | ||
Average holding size of securities in bond portfolio | $ 3,100 | |
Municipal Bonds [Member] | Credit Concentration Risk [Member] | General Obligation Bonds [Member] | A Rating [Member] | Minimum [Member] | ||
Schedule Of Securities [Line Items] | ||
Percentage of portfolio | 100.00% | |
Municipal Bonds [Member] | Geographic Concentration Risk [Member] | Pennsylvania, Ohio and Maryland [Member] | ||
Schedule Of Securities [Line Items] | ||
Percentage of portfolio | 65.00% |
LOANS AND LEASES - Net of Unear
LOANS AND LEASES - Net of Unearned Income (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 21,659,582 | $ 20,998,766 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 8,834,322 | 8,741,864 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 4,301,387 | 4,170,667 |
Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 337,397 | 266,720 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 43,351 | 17,063 |
Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 13,516,457 | 13,196,314 |
Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,892,080 | 1,905,535 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,850,970 | 2,702,691 |
Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,746,509 | 1,448,433 |
Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,653,566 | 1,745,793 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 8,143,125 | 7,802,452 |
Originated Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 16,885,181 | 15,345,490 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 5,754,367 | 5,174,783 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,797,773 | 3,495,247 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 337,397 | 266,720 |
Originated Loans and Leases [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 43,351 | 17,063 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 9,932,888 | 8,953,813 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,772,090 | 1,755,713 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,297,558 | 2,036,226 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,746,352 | 1,448,268 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,136,293 | 1,151,470 |
Originated Loans and Leases [Member] | Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 6,952,293 | 6,391,677 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 4,774,401 | 5,653,276 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,079,955 | 3,567,081 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 503,614 | 675,420 |
Acquired Loans [Member] | Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 0 | 0 |
Acquired Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 0 | 0 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,583,569 | 4,242,501 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 119,990 | 149,822 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 553,412 | 666,465 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 157 | 165 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 517,273 | 594,323 |
Acquired Loans [Member] | Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 1,190,832 | $ 1,410,775 |
LOANS AND LEASES - Commercial R
LOANS AND LEASES - Commercial Real Estate Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Commercial construction, acquisition and development loans | $ 1,176,326 | $ 1,170,175 |
Credit Concentration Risk [Member] | Commercial Construction Loans [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 5.40% | 5.60% |
Loan Portfolio Diversification Risk [Member] | Commercial Real Estate Loans [Member] | Owner-Occupied [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 35.00% | 35.30% |
Loan Portfolio Diversification Risk [Member] | Commercial Real Estate Loans [Member] | Non-Owner-Occupied [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 65.00% | 64.70% |
LOANS AND LEASES - Outstanding
LOANS AND LEASES - Outstanding Principal Balance and Carrying Amount of Acquired Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $ 21,659,582 | $ 20,998,766 |
Accounted for under ASC 310-30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 4,387,378 | 5,176,015 |
Carrying amount | 4,101,583 | 4,834,256 |
Accounted for under ASC 310-20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 688,541 | 835,130 |
Carrying amount | 668,859 | 812,322 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 5,075,919 | 6,011,145 |
Carrying amount | $ 4,770,442 | $ 5,646,578 |
LOANS AND LEASES - Additional I
LOANS AND LEASES - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Carrying amount | $ 21,659,582,000 | $ 21,659,582,000 | $ 20,998,766,000 | |
Reclassification from non-accretable difference | $ 128,955,000 | $ 40,304,000 | ||
Sustained period of delinquency for impairment evaluation | 90 years | |||
Valuation for impairment of loans with pooled reserves | 500,000 | $ 500,000 | ||
Minimum amount to allocate specific valuation allowance | 500,000 | 500,000 | ||
Interest income on impaired loans | 3,100,000 | $ 2,600,000 | ||
Restructured loans returned to performing status | 2,200,000 | |||
Minimum reserves for commercial loan | 500,000 | 500,000 | ||
Pooled reserves for all other classes of loans | $ 4,200,000 | 4,000,000 | ||
Maximum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due period for loan to be in default | 12 months | |||
Minimum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due period for loan to be in default | 90 days | |||
Commercial Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Threshold period past due for default non-accrual status of trade accounts receivable | 90 days | |||
Installment Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Threshold period past due for default non-accrual status of trade accounts receivable | 120 days | |||
Residential Mortgages [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Proceeds from sale acquired real estate loans | 56,500,000 | |||
Threshold period past due for default non-accrual status of trade accounts receivable | 180 days | |||
Carrying value of OREO through foreclosure | 6,000,000 | $ 6,000,000 | 3,600,000 | |
Mortgage loans on real estate, foreclosure | 12,500,000 | 15,200,000 | ||
Purchased Credit-Impaired Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Carrying amount | $ 1,700,000 | $ 1,700,000 | $ 1,900,000 | |
Purchased Credit-Impaired Loans [Member] | Credit Concentration Risk [Member] | Acquired Loans Receivable [Member] | Maximum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of portfolio | 0.03% | |||
Purchased Credit-Impaired Loans [Member] | Credit Concentration Risk [Member] | Acquired Loans Receivable [Member] | Minimum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of portfolio | 0.04% |
LOANS AND LEASES - Change in Ac
LOANS AND LEASES - Change in Accretable Yield of Acquired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Balance at beginning of period | $ 708,481 | $ 467,070 |
Acquisitions | 0 | 444,715 |
Reduction due to unexpected early payoffs | (94,456) | (61,093) |
Reclass from non-accretable difference | 128,955 | 40,304 |
Disposals/transfers | (408) | (324) |
Other | (1,619) | 0 |
Accretion | (116,006) | (100,628) |
Balance at end of period | $ 624,947 | $ 790,044 |
LOANS AND LEASES - Non-Performi
LOANS AND LEASES - Non-Performing Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | $ 53,714 | $ 53,991 |
Non-Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 68,696 | 74,635 |
Troubled debt restructurings | 24,820 | 23,481 |
Total non-performing loans | 93,516 | 98,116 |
Other real estate owned | 39,240 | 40,606 |
Total non-performing assets | $ 132,756 | $ 138,722 |
Non-performing loans / total loans and leases | 0.43% | 0.47% |
Non-performing loans OREO / total loans and leases OREO | 0.61% | 0.66% |
Non-performing assets / total assets | 0.41% | 0.44% |
LOANS AND LEASES - Age Analysis
LOANS AND LEASES - Age Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 21,659,582 | $ 20,998,766 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 8,834,322 | 8,741,864 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 4,301,387 | 4,170,667 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 337,397 | 266,720 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 43,351 | 17,063 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 13,516,457 | 13,196,314 |
Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,892,080 | 1,905,535 |
Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 2,850,970 | 2,702,691 |
Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,746,509 | 1,448,433 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,653,566 | 1,745,793 |
Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 8,143,125 | 7,802,452 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 115,485 | 134,911 |
Non- Accrual | 59,953 | 63,644 |
Current | 16,769,696 | 15,210,579 |
Total Loans | 16,885,181 | 15,345,490 |
Loans sold | 14,700 | |
Originated Loans and Leases [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 48,305 | 62,146 |
Originated Loans and Leases [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 7,227 | 9,121 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 25,130 | 33,047 |
Non- Accrual | 14,652 | 24,773 |
Current | 5,729,237 | 5,141,736 |
Total Loans | 5,754,367 | 5,174,783 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 10,476 | 8,273 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 2 | 1 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 29,033 | 26,028 |
Non- Accrual | 23,367 | 17,077 |
Current | 3,768,740 | 3,469,219 |
Total Loans | 3,797,773 | 3,495,247 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 5,663 | 8,948 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3 | 3 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 2,079 | 2,997 |
Non- Accrual | 1,218 | 1,574 |
Current | 335,318 | 263,723 |
Total Loans | 337,397 | 266,720 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 861 | 1,382 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 41 |
Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,367 | 1,236 |
Non- Accrual | 1,000 | 1,000 |
Current | 41,984 | 15,827 |
Total Loans | 43,351 | 17,063 |
Originated Loans and Leases [Member] | Other [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 163 | 83 |
Originated Loans and Leases [Member] | Other [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 204 | 153 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 57,609 | 63,308 |
Non- Accrual | 40,237 | 44,424 |
Current | 9,875,279 | 8,890,505 |
Total Loans | 9,932,888 | 8,953,813 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 17,163 | 18,686 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 209 | 198 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 20,747 | 26,554 |
Non- Accrual | 7,402 | 8,896 |
Current | 1,751,343 | 1,729,159 |
Total Loans | 1,772,090 | 1,755,713 |
Originated Loans and Leases [Member] | Direct Installment [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 9,317 | 13,192 |
Originated Loans and Leases [Member] | Direct Installment [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 4,028 | 4,466 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 18,524 | 22,699 |
Non- Accrual | 6,882 | 5,771 |
Current | 2,279,034 | 2,013,527 |
Total Loans | 2,297,558 | 2,036,226 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 10,046 | 14,096 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,596 | 2,832 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 10,099 | 13,164 |
Non- Accrual | 2,152 | 2,240 |
Current | 1,736,253 | 1,435,104 |
Total Loans | 1,746,352 | 1,448,268 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 7,592 | 10,313 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 355 | 611 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 8,506 | 9,186 |
Non- Accrual | 3,280 | 2,313 |
Current | 1,127,787 | 1,142,284 |
Total Loans | 1,136,293 | 1,151,470 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 4,187 | 5,859 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,039 | 1,014 |
Originated Loans and Leases [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 57,876 | 71,603 |
Non- Accrual | 19,716 | 19,220 |
Current | 6,894,417 | 6,320,074 |
Total Loans | 6,952,293 | 6,391,677 |
Originated Loans and Leases [Member] | Consumer Loan [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 31,142 | 43,460 |
Originated Loans and Leases [Member] | Consumer Loan [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 7,018 | 8,923 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 120,106 | 167,867 |
Non- Accrual | 8,743 | 10,991 |
Current | 4,894,298 | 5,768,610 |
(Discount) Premium | (240,003) | (283,201) |
Total Loans | 4,774,401 | 5,653,276 |
Loans sold | 28,500 | |
Acquired Loans [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 43,474 | 66,926 |
Acquired Loans [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 67,889 | 89,950 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 77,293 | 101,995 |
Non- Accrual | 3,231 | 3,975 |
Current | 3,181,557 | 3,657,152 |
(Discount) Premium | (178,895) | (192,066) |
Total Loans | 3,079,955 | 3,567,081 |
Acquired Loans [Member] | Commercial Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 20,622 | 34,928 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 53,440 | 63,092 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 9,465 | 15,302 |
Non- Accrual | 4,347 | 5,663 |
Current | 526,830 | 698,265 |
(Discount) Premium | (32,681) | (38,147) |
Total Loans | 503,614 | 675,420 |
Acquired Loans [Member] | Commercial and Industrial [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,620 | 3,187 |
Acquired Loans [Member] | Commercial and Industrial [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3,498 | 6,452 |
Acquired Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 86,758 | 117,297 |
Non- Accrual | 7,578 | 9,638 |
Current | 3,708,387 | 4,355,417 |
(Discount) Premium | (211,576) | (230,213) |
Total Loans | 3,583,569 | 4,242,501 |
Acquired Loans [Member] | Commercial Loans [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 22,242 | 38,115 |
Acquired Loans [Member] | Commercial Loans [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 56,938 | 69,544 |
Acquired Loans [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
Acquired Loans [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 3,583,569 | 4,242,501 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 4,897 | 7,280 |
Non- Accrual | 0 | 0 |
Current | 115,496 | 141,386 |
(Discount) Premium | (403) | 1,156 |
Total Loans | 119,990 | 149,822 |
Acquired Loans [Member] | Direct Installment [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3,766 | 5,267 |
Acquired Loans [Member] | Direct Installment [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,131 | 2,013 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 18,121 | 32,330 |
Non- Accrual | 0 | 0 |
Current | 552,387 | 675,499 |
(Discount) Premium | (17,096) | (41,364) |
Total Loans | 553,412 | 666,465 |
Acquired Loans [Member] | Residential Mortgages [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 10,424 | 17,191 |
Acquired Loans [Member] | Residential Mortgages [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 7,697 | 15,139 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1 | 1 |
Non- Accrual | 0 | 0 |
Current | 1 | 10 |
(Discount) Premium | 155 | 154 |
Total Loans | 157 | 165 |
Acquired Loans [Member] | Indirect Installment [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Acquired Loans [Member] | Indirect Installment [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1 | 1 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 10,329 | 10,959 |
Non- Accrual | 1,165 | 1,353 |
Current | 518,027 | 596,298 |
(Discount) Premium | (11,083) | (12,934) |
Total Loans | 517,273 | 594,323 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 7,042 | 6,353 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 2,122 | 3,253 |
Acquired Loans [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 33,348 | 50,570 |
Non- Accrual | 1,165 | 1,353 |
Current | 1,185,911 | 1,413,193 |
(Discount) Premium | (28,427) | (52,988) |
Total Loans | 1,190,832 | 1,410,775 |
Acquired Loans [Member] | Consumer Loan [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 21,232 | 28,811 |
Acquired Loans [Member] | Consumer Loan [Member] | Equal to Greater than 90 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | $ 10,951 | $ 20,406 |
LOANS AND LEASES - Commercial L
LOANS AND LEASES - Commercial Loans and Leases by Credit Quality (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 21,659,582 | $ 20,998,766 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 8,834,322 | 8,741,864 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,301,387 | 4,170,667 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 337,397 | 266,720 |
Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 43,351 | 17,063 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 13,516,457 | 13,196,314 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 16,885,181 | 15,345,490 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,754,367 | 5,174,783 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,797,773 | 3,495,247 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 337,397 | 266,720 |
Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 43,351 | 17,063 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 9,932,888 | 8,953,813 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,774,401 | 5,653,276 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,079,955 | 3,567,081 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 503,614 | 675,420 |
Acquired Loans [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 0 |
Acquired Loans [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 0 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,583,569 | 4,242,501 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,499,238 | 4,922,872 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,537,536 | 3,266,966 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 326,574 | 260,235 |
Pass [Member] | Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 42,037 | 15,866 |
Pass [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 9,405,385 | 8,465,939 |
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,661,433 | 3,102,788 |
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 434,731 | 603,611 |
Pass [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,096,164 | 3,706,399 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 131,806 | 152,744 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 176,599 | 132,975 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,274 | 4,425 |
Special Mention [Member] | Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 110 | 43 |
Special Mention [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 310,789 | 290,187 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 200,723 | 250,987 |
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 26,981 | 26,059 |
Special Mention [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 227,704 | 277,046 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 123,297 | 98,728 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 79,246 | 92,091 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 8,549 | 2,060 |
Substandard [Member] | Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,204 | 1,154 |
Substandard [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 212,296 | 194,033 |
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 217,626 | 213,089 |
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 41,902 | 45,661 |
Substandard [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 259,528 | 258,750 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 26 | 439 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,392 | 3,215 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 0 |
Doubtful [Member] | Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 0 |
Doubtful [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,418 | 3,654 |
Doubtful [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 173 | 217 |
Doubtful [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 0 | 89 |
Doubtful [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 173 | $ 306 |
LOANS AND LEASES - Consumer Loa
LOANS AND LEASES - Consumer Loans by Payment Status (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Credit Quality [Line Items] | ||
Carrying amount | $ 21,659,582 | $ 20,998,766 |
Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,892,080 | 1,905,535 |
Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 2,850,970 | 2,702,691 |
Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,746,509 | 1,448,433 |
Originated Loans and Leases [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 16,885,181 | 15,345,490 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,772,090 | 1,755,713 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 2,297,558 | 2,036,226 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,746,352 | 1,448,268 |
Acquired Loans [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 4,774,401 | 5,653,276 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 119,990 | 149,822 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 553,412 | 666,465 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 157 | 165 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 6,952,293 | 6,391,677 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 6,911,416 | 6,352,285 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 40,877 | 39,392 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,772,090 | 1,755,713 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Direct Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,756,297 | 1,739,060 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Direct Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 15,793 | 16,653 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 2,297,558 | 2,036,226 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Residential Mortgages [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 2,279,790 | 2,019,816 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Residential Mortgages [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 17,768 | 16,410 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,746,352 | 1,448,268 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Indirect Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,744,007 | 1,445,833 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Indirect Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 2,345 | 2,435 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,136,293 | 1,151,470 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,131,322 | 1,147,576 |
Consumer Loan [Member] | Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 4,971 | 3,894 |
Consumer Loan [Member] | Acquired Loans [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,190,832 | 1,410,775 |
Consumer Loan [Member] | Acquired Loans [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,189,149 | 1,408,765 |
Consumer Loan [Member] | Acquired Loans [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 1,683 | 2,010 |
Consumer Loan [Member] | Acquired Loans [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 119,990 | 149,822 |
Consumer Loan [Member] | Acquired Loans [Member] | Direct Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 119,921 | 149,751 |
Consumer Loan [Member] | Acquired Loans [Member] | Direct Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 69 | 71 |
Consumer Loan [Member] | Acquired Loans [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 553,412 | 666,465 |
Consumer Loan [Member] | Acquired Loans [Member] | Residential Mortgages [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 553,412 | 666,465 |
Consumer Loan [Member] | Acquired Loans [Member] | Residential Mortgages [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 0 | 0 |
Consumer Loan [Member] | Acquired Loans [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 157 | 165 |
Consumer Loan [Member] | Acquired Loans [Member] | Indirect Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 157 | 165 |
Consumer Loan [Member] | Acquired Loans [Member] | Indirect Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 0 | 0 |
Consumer Loan [Member] | Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 517,273 | 594,323 |
Consumer Loan [Member] | Acquired Loans [Member] | Consumer Lines of Credit [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | 515,659 | 592,384 |
Consumer Loan [Member] | Acquired Loans [Member] | Consumer Lines of Credit [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Carrying amount | $ 1,614 | $ 1,939 |
LOANS AND LEASES - Impaired Loa
LOANS AND LEASES - Impaired Loans and Lease (Detail) - Originated Loans and Leases [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | $ 95,481 | $ 106,476 |
Recorded Investment With No Specific Reserve | 69,423 | 74,309 |
Recorded Investment With Specific Reserve | 10,988 | 7,363 |
Total Recorded Investment | 80,411 | 81,672 |
Specific Reserve | 4,418 | 3,654 |
Average Recorded Investment | 85,703 | 88,636 |
Commercial Real Estate [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 16,428 | 27,718 |
Recorded Investment With No Specific Reserve | 14,308 | 21,748 |
Recorded Investment With Specific Reserve | 201 | 2,906 |
Total Recorded Investment | 14,509 | 24,654 |
Specific Reserve | 26 | 439 |
Average Recorded Investment | 20,912 | 24,413 |
Commercial and Industrial [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 28,738 | 29,307 |
Recorded Investment With No Specific Reserve | 13,020 | 11,595 |
Recorded Investment With Specific Reserve | 10,787 | 4,457 |
Total Recorded Investment | 23,807 | 16,052 |
Specific Reserve | 4,392 | 3,215 |
Average Recorded Investment | 23,688 | 23,907 |
Commercial Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 1,218 | 1,574 |
Recorded Investment With No Specific Reserve | 1,218 | 1,574 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 1,218 | 1,574 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 1,309 | 1,386 |
Other [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 0 | 0 |
Recorded Investment With No Specific Reserve | 0 | 0 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 0 | 0 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Total Commercial Loans and Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 46,384 | 58,599 |
Recorded Investment With No Specific Reserve | 28,546 | 34,917 |
Recorded Investment With Specific Reserve | 10,988 | 7,363 |
Total Recorded Investment | 39,534 | 42,280 |
Specific Reserve | 4,418 | 3,654 |
Average Recorded Investment | 45,909 | 49,706 |
Direct Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 18,603 | 19,375 |
Recorded Investment With No Specific Reserve | 15,793 | 16,653 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 15,793 | 16,653 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 15,693 | 16,852 |
Residential Mortgages [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 19,180 | 17,754 |
Recorded Investment With No Specific Reserve | 17,768 | 16,410 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 17,768 | 16,410 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 16,973 | 15,984 |
Indirect Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 4,579 | 5,709 |
Recorded Investment With No Specific Reserve | 2,345 | 2,435 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 2,345 | 2,435 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 2,387 | 2,279 |
Consumer Lines of Credit [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 6,735 | 5,039 |
Recorded Investment With No Specific Reserve | 4,971 | 3,894 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 4,971 | 3,894 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | 4,741 | 3,815 |
Consumer Loan [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 49,097 | 47,877 |
Recorded Investment With No Specific Reserve | 40,877 | 39,392 |
Recorded Investment With Specific Reserve | 0 | 0 |
Total Recorded Investment | 40,877 | 39,392 |
Specific Reserve | 0 | 0 |
Average Recorded Investment | $ 39,794 | $ 38,930 |
LOANS AND LEASES - Additional A
LOANS AND LEASES - Additional Allowance for Credit Losses Relating to Acquired Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | $ 176,574 | $ 179,247 | $ 175,380 | $ 165,699 | $ 160,782 | $ 158,059 |
Acquired Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | 3,959 | $ 6,837 | 6,698 | $ 6,607 | $ 6,568 | $ 7,268 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | 2,892 | 4,976 | ||||
Acquired Loans [Member] | Commercial and Industrial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | 78 | (415) | ||||
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | 2,970 | 4,561 | ||||
Acquired Loans [Member] | Direct Installment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | 562 | 1,553 | ||||
Acquired Loans [Member] | Residential Mortgages [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | 191 | 484 | ||||
Acquired Loans [Member] | Indirect Installment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | 250 | 177 | ||||
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | (14) | (77) | ||||
Acquired Loans [Member] | Consumer Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total allowance on acquired loans | $ 989 | $ 2,137 |
LOANS AND LEASES - Summary of P
LOANS AND LEASES - Summary of Payment Status of TDRs (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 53,714 | $ 53,991 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 50,364 | 50,183 |
Acquired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 3,350 | 3,808 |
Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 19,520 | 19,804 |
Performing [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 19,352 | 19,538 |
Performing [Member] | Acquired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 168 | 266 |
Non-Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 24,820 | 23,481 |
Non-Performing [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 21,689 | 20,173 |
Non-Performing [Member] | Acquired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 3,131 | 3,308 |
Non-Accrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 9,374 | 10,706 |
Non-Accrual [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 9,323 | 10,472 |
Non-Accrual [Member] | Acquired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 51 | $ 234 |
LOANS AND LEASES - Reserve for
LOANS AND LEASES - Reserve for Commercial TDRs Included in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Modifications [Line Items] | ||||||
Total allowance on acquired loans | $ 176,574 | $ 179,247 | $ 175,380 | $ 165,699 | $ 160,782 | $ 158,059 |
Specific Reserves for Commercial TDRs [Member] | Total Commercial Loans and Leases [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Total allowance on acquired loans | 14 | 95 | ||||
Pooled Reserves for Individual Commercial Loans [Member] | Total Commercial Loans and Leases [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Total allowance on acquired loans | $ 529 | $ 469 |
LOANS AND LEASES - Troubled Deb
LOANS AND LEASES - Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2018USD ($)Contract | Jun. 30, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 229 | 199 | 447 | 405 |
Pre- Modification Outstanding Recorded Investment | $ 4,056 | $ 6,680 | $ 7,593 | $ 8,743 |
Post- Modification Outstanding Recorded Investment | $ 3,785 | $ 6,535 | $ 6,050 | $ 8,887 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | 1 | 2 |
Pre- Modification Outstanding Recorded Investment | $ 125 | $ 463 | $ 125 | $ 595 |
Post- Modification Outstanding Recorded Investment | $ 122 | $ 463 | $ 122 | $ 566 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 13 | 2 | 13 | 2 |
Pre- Modification Outstanding Recorded Investment | $ 862 | $ 4,038 | $ 2,524 | $ 3,542 |
Post- Modification Outstanding Recorded Investment | $ 780 | $ 4,204 | $ 1,384 | $ 4,204 |
Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 14 | 3 | 14 | 4 |
Pre- Modification Outstanding Recorded Investment | $ 987 | $ 4,501 | $ 2,649 | $ 4,137 |
Post- Modification Outstanding Recorded Investment | $ 902 | $ 4,667 | $ 1,506 | $ 4,770 |
Direct Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 178 | 162 | 357 | 333 |
Pre- Modification Outstanding Recorded Investment | $ 2,372 | $ 1,448 | $ 3,404 | $ 2,951 |
Post- Modification Outstanding Recorded Investment | $ 2,276 | $ 1,301 | $ 3,209 | $ 2,688 |
Residential Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 8 | 9 | 19 | 16 |
Pre- Modification Outstanding Recorded Investment | $ 304 | $ 405 | $ 807 | $ 570 |
Post- Modification Outstanding Recorded Investment | $ 298 | $ 345 | $ 799 | $ 497 |
Indirect Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 7 | 4 | 16 | 9 |
Pre- Modification Outstanding Recorded Investment | $ 11 | $ 15 | $ 24 | $ 31 |
Post- Modification Outstanding Recorded Investment | $ 11 | $ 14 | $ 23 | $ 27 |
Consumer Lines of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 22 | 21 | 41 | 43 |
Pre- Modification Outstanding Recorded Investment | $ 382 | $ 311 | $ 709 | $ 1,054 |
Post- Modification Outstanding Recorded Investment | $ 298 | $ 208 | $ 513 | $ 905 |
Consumer Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 215 | 196 | 433 | 401 |
Pre- Modification Outstanding Recorded Investment | $ 3,069 | $ 2,179 | $ 4,944 | $ 4,606 |
Post- Modification Outstanding Recorded Investment | $ 2,883 | $ 1,868 | $ 4,544 | $ 4,117 |
LOANS AND LEASES - Originated T
LOANS AND LEASES - Originated Troubled Debt Restructurings, Payment Default (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2018USD ($)Contract | Jun. 30, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 51 | 41 | 96 | 73 |
Recorded Investment | $ | $ 414 | $ 608 | $ 864 | $ 818 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 2 | 3 | ||
Recorded Investment | $ | $ 312 | $ 326 | ||
Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 2 | 3 | ||
Recorded Investment | $ | $ 312 | $ 326 | ||
Direct Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 41 | 31 | 78 | 55 |
Recorded Investment | $ | $ 202 | $ 134 | $ 304 | $ 146 |
Residential Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 1 | 6 | 4 |
Recorded Investment | $ | $ 146 | $ 80 | $ 293 | $ 264 |
Indirect Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 5 | 6 | 9 | 10 |
Recorded Investment | $ | $ 10 | $ 19 | $ 15 | $ 19 |
Consumer Lines of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 2 | 1 | 3 | 1 |
Recorded Investment | $ | $ 56 | $ 63 | $ 252 | $ 63 |
Consumer Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 51 | 39 | 96 | 70 |
Recorded Investment | $ | $ 414 | $ 296 | $ 864 | $ 492 |
ALLOWANCE FOR CREDIT LOSSES - C
ALLOWANCE FOR CREDIT LOSSES - Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | $ 179,247 | $ 160,782 | $ 175,380 | $ 158,059 |
Charge- Offs | (22,630) | (15,134) | (36,541) | (26,428) |
Recoveries | 4,403 | 3,295 | 7,686 | 6,462 |
Net Charge- Offs | (18,227) | (11,839) | (28,855) | (19,966) |
Provision for credit losses | 15,554 | 16,756 | 30,049 | 27,606 |
Balance at End of Period | 176,574 | 165,699 | 176,574 | 165,699 |
Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 172,410 | 154,214 | 168,682 | 150,791 |
Charge- Offs | (18,554) | (15,059) | (32,156) | (25,871) |
Recoveries | 3,723 | 2,399 | 6,283 | 5,297 |
Net Charge- Offs | (14,831) | (12,660) | (25,873) | (20,574) |
Provision for credit losses | 15,036 | 17,538 | 29,806 | 28,875 |
Balance at End of Period | 172,615 | 159,092 | 172,615 | 159,092 |
Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 6,837 | 6,568 | 6,698 | 7,268 |
Charge- Offs | (4,076) | (75) | (4,385) | (557) |
Recoveries | 680 | 896 | 1,403 | 1,165 |
Net Charge- Offs | (3,396) | 821 | (2,982) | 608 |
Provision for credit losses | 518 | (782) | 243 | (1,269) |
Balance at End of Period | 3,959 | 6,607 | 3,959 | 6,607 |
Commercial Real Estate [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 53,516 | 46,389 | 50,281 | 46,635 |
Charge- Offs | (4,254) | (318) | (4,479) | (1,306) |
Recoveries | 765 | 505 | 1,102 | 866 |
Net Charge- Offs | (3,489) | 187 | (3,377) | (440) |
Provision for credit losses | 560 | 382 | 3,683 | 763 |
Balance at End of Period | 50,587 | 46,958 | 50,587 | 46,958 |
Commercial Real Estate [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 4,976 | |||
Balance at End of Period | 2,892 | 2,892 | ||
Commercial and Industrial [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 53,013 | 53,570 | 51,963 | 47,991 |
Charge- Offs | (6,127) | (7,736) | (12,047) | (10,199) |
Recoveries | 1,157 | 183 | 1,526 | 657 |
Net Charge- Offs | (4,970) | (7,553) | (10,521) | (9,542) |
Provision for credit losses | 5,646 | 8,091 | 12,247 | 15,659 |
Balance at End of Period | 53,689 | 54,108 | 53,689 | 54,108 |
Commercial and Industrial [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | (415) | |||
Balance at End of Period | 78 | 78 | ||
Commercial Leases [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 6,115 | 3,513 | 5,646 | 3,280 |
Charge- Offs | (36) | (208) | (207) | (714) |
Recoveries | 14 | 3 | 24 | 4 |
Net Charge- Offs | (22) | (205) | (183) | (710) |
Provision for credit losses | 946 | 814 | 1,576 | 1,552 |
Balance at End of Period | 7,039 | 4,122 | 7,039 | 4,122 |
Other [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 1,995 | 1,809 | 1,843 | 1,392 |
Charge- Offs | (1,578) | (821) | (2,375) | (1,794) |
Recoveries | 272 | 353 | 569 | 680 |
Net Charge- Offs | (1,306) | (468) | (1,806) | (1,114) |
Provision for credit losses | 1,307 | 497 | 1,959 | 1,560 |
Balance at End of Period | 1,996 | 1,838 | 1,996 | 1,838 |
Total Commercial Loans and Leases [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 114,639 | 105,281 | 109,733 | 99,298 |
Charge- Offs | (11,995) | (9,083) | (19,108) | (14,013) |
Recoveries | 2,208 | 1,044 | 3,221 | 2,207 |
Net Charge- Offs | (9,787) | (8,039) | (15,887) | (11,806) |
Provision for credit losses | 8,459 | 9,784 | 19,465 | 19,534 |
Balance at End of Period | 113,311 | 107,026 | 113,311 | 107,026 |
Total Commercial Loans and Leases [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 4,561 | |||
Balance at End of Period | 2,970 | 2,970 | ||
Direct Installment [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 20,128 | 20,210 | 20,936 | 21,391 |
Charge- Offs | (2,922) | (3,245) | (6,392) | (6,119) |
Recoveries | 463 | 581 | 903 | 1,209 |
Net Charge- Offs | (2,459) | (2,664) | (5,489) | (4,910) |
Provision for credit losses | 2,610 | 3,190 | 4,832 | 4,255 |
Balance at End of Period | 20,279 | 20,736 | 20,279 | 20,736 |
Direct Installment [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 1,553 | |||
Balance at End of Period | 562 | 562 | ||
Residential Mortgages [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 15,280 | 10,210 | 15,507 | 10,082 |
Charge- Offs | (314) | (182) | (393) | (362) |
Recoveries | 16 | 10 | 107 | 171 |
Net Charge- Offs | (298) | (172) | (286) | (191) |
Provision for credit losses | 181 | 1,214 | (58) | 1,361 |
Balance at End of Period | 15,163 | 11,252 | 15,163 | 11,252 |
Residential Mortgages [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 484 | |||
Balance at End of Period | 191 | 191 | ||
Indirect Installment [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 11,955 | 9,630 | 11,967 | 10,564 |
Charge- Offs | (2,218) | (1,966) | (4,627) | (4,336) |
Recoveries | 974 | 614 | 1,869 | 1,395 |
Net Charge- Offs | (1,244) | (1,352) | (2,758) | (2,941) |
Provision for credit losses | 2,690 | 2,296 | 4,192 | 2,951 |
Balance at End of Period | 13,401 | 10,574 | 13,401 | 10,574 |
Indirect Installment [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 177 | |||
Balance at End of Period | 250 | 250 | ||
Consumer Lines of Credit [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 10,408 | 8,883 | 10,539 | 9,456 |
Charge- Offs | (1,105) | (583) | (1,636) | (1,041) |
Recoveries | 62 | 150 | 183 | 315 |
Net Charge- Offs | (1,043) | (433) | (1,453) | (726) |
Provision for credit losses | 1,096 | 1,054 | 1,375 | 774 |
Balance at End of Period | 10,461 | 9,504 | 10,461 | 9,504 |
Consumer Lines of Credit [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | (77) | |||
Balance at End of Period | (14) | (14) | ||
Consumer Loan [Member] | Originated Loans and Leases [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 57,771 | 48,933 | 58,949 | 51,493 |
Charge- Offs | (6,559) | (5,976) | (13,048) | (11,858) |
Recoveries | 1,515 | 1,355 | 3,062 | 3,090 |
Net Charge- Offs | (5,044) | (4,621) | (9,986) | (8,768) |
Provision for credit losses | 6,577 | 7,754 | 10,341 | 9,341 |
Balance at End of Period | 59,304 | 52,066 | 59,304 | 52,066 |
Consumer Loan [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 2,137 | |||
Balance at End of Period | 989 | 989 | ||
Purchased Credit-Impaired Loans [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 622 | 660 | 635 | 572 |
Charge- Offs | 0 | (1) | 0 | (1) |
Recoveries | 0 | 0 | 0 | 0 |
Net Charge- Offs | 0 | (1) | 0 | (1) |
Provision for credit losses | 2 | (19) | (11) | 69 |
Balance at End of Period | 624 | 640 | 624 | 640 |
Other Acquired Loans [Member] | Acquired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at Beginning of Period | 6,215 | 5,908 | 6,063 | 6,696 |
Charge- Offs | (4,076) | (74) | (4,385) | (556) |
Recoveries | 680 | 896 | 1,403 | 1,165 |
Net Charge- Offs | (3,396) | 822 | (2,982) | 609 |
Provision for credit losses | 516 | (763) | 254 | (1,338) |
Balance at End of Period | $ 3,335 | $ 5,967 | $ 3,335 | $ 5,967 |
ALLOWANCE FOR CREDIT LOSSES - I
ALLOWANCE FOR CREDIT LOSSES - Individual and Collective Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | $ 21,659,582 | $ 20,998,766 |
Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 8,834,322 | 8,741,864 |
Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 4,301,387 | 4,170,667 |
Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 337,397 | 266,720 |
Other [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 43,351 | 17,063 |
Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 13,516,457 | 13,196,314 |
Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 1,892,080 | 1,905,535 |
Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 2,850,970 | 2,702,691 |
Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 1,746,509 | 1,448,433 |
Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 1,653,566 | 1,745,793 |
Consumer Loan [Member] | ||
Valuation Allowance [Line Items] | ||
Originated loans and leases outstanding, loans and leases | 8,143,125 | 7,802,452 |
Originated Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 4,418 | 3,654 |
Originated allowance, collectively evaluated for impairment | 168,197 | 165,028 |
Originated loans and leases outstanding, loans and leases | 16,885,181 | 15,345,490 |
Originated loans and leases outstanding, individually evaluated for impairment | 27,003 | 20,986 |
Originated loans and leases outstanding, collectively evaluated for impairment | 16,858,178 | 15,324,504 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 26 | 439 |
Originated allowance, collectively evaluated for impairment | 50,561 | 49,842 |
Originated loans and leases outstanding, loans and leases | 5,754,367 | 5,174,783 |
Originated loans and leases outstanding, individually evaluated for impairment | 8,521 | 11,114 |
Originated loans and leases outstanding, collectively evaluated for impairment | 5,745,846 | 5,163,669 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 4,392 | 3,215 |
Originated allowance, collectively evaluated for impairment | 49,297 | 48,748 |
Originated loans and leases outstanding, loans and leases | 3,797,773 | 3,495,247 |
Originated loans and leases outstanding, individually evaluated for impairment | 18,482 | 9,872 |
Originated loans and leases outstanding, collectively evaluated for impairment | 3,779,291 | 3,485,375 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 0 | 0 |
Originated allowance, collectively evaluated for impairment | 7,039 | 5,646 |
Originated loans and leases outstanding, loans and leases | 337,397 | 266,720 |
Originated loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Originated loans and leases outstanding, collectively evaluated for impairment | 337,397 | 266,720 |
Originated Loans and Leases [Member] | Other [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 0 | 0 |
Originated allowance, collectively evaluated for impairment | 1,996 | 1,843 |
Originated loans and leases outstanding, loans and leases | 43,351 | 17,063 |
Originated loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Originated loans and leases outstanding, collectively evaluated for impairment | 43,351 | 17,063 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 4,418 | 3,654 |
Originated allowance, collectively evaluated for impairment | 108,893 | 106,079 |
Originated loans and leases outstanding, loans and leases | 9,932,888 | 8,953,813 |
Originated loans and leases outstanding, individually evaluated for impairment | 27,003 | 20,986 |
Originated loans and leases outstanding, collectively evaluated for impairment | 9,905,885 | 8,932,827 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 0 | 0 |
Originated allowance, collectively evaluated for impairment | 20,279 | 20,936 |
Originated loans and leases outstanding, loans and leases | 1,772,090 | 1,755,713 |
Originated loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Originated loans and leases outstanding, collectively evaluated for impairment | 1,772,090 | 1,755,713 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 0 | 0 |
Originated allowance, collectively evaluated for impairment | 15,163 | 15,507 |
Originated loans and leases outstanding, loans and leases | 2,297,558 | 2,036,226 |
Originated loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Originated loans and leases outstanding, collectively evaluated for impairment | 2,297,558 | 2,036,226 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 0 | 0 |
Originated allowance, collectively evaluated for impairment | 13,401 | 11,967 |
Originated loans and leases outstanding, loans and leases | 1,746,352 | 1,448,268 |
Originated loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Originated loans and leases outstanding, collectively evaluated for impairment | 1,746,352 | 1,448,268 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 0 | 0 |
Originated allowance, collectively evaluated for impairment | 10,461 | 10,539 |
Originated loans and leases outstanding, loans and leases | 1,136,293 | 1,151,470 |
Originated loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Originated loans and leases outstanding, collectively evaluated for impairment | 1,136,293 | 1,151,470 |
Originated Loans and Leases [Member] | Consumer Loan [Member] | ||
Valuation Allowance [Line Items] | ||
Originated allowance, individually evaluated for impairment | 0 | 0 |
Originated allowance, collectively evaluated for impairment | 59,304 | 58,949 |
Originated loans and leases outstanding, loans and leases | 6,952,293 | 6,391,677 |
Originated loans and leases outstanding, individually evaluated for impairment | 0 | 0 |
Originated loans and leases outstanding, collectively evaluated for impairment | $ 6,952,293 | $ 6,391,677 |
LOAN SERVICING - Mortgage Servi
LOAN SERVICING - Mortgage Servicing Rights Activity (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Servicing Assets at Fair Value [Line Items] | |||||
Mortgage banking operations | $ 5,940 | $ 5,173 | $ 11,469 | $ 8,963 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Service charges | 31,114 | 32,090 | 61,191 | 56,671 | |
Mortgage Servicing Rights [Member] | |||||
Servicing Assets at Fair Value [Line Items] | |||||
Mortgage loans sold with servicing retained | 3,605,603 | 3,605,603 | $ 3,256,548 | ||
Mortgage loans sold with servicing retained | 282,756 | 226,600 | 519,649 | 356,443 | |
Pretax gains resulting from above loan sales | 5,024 | 5,633 | 8,822 | 9,271 | |
Mortgage banking operations | 2,223 | 2,007 | 4,397 | 3,610 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Balance at beginning of period | 30,791 | 22,866 | 29,053 | 13,521 | |
Fair value of MSRs acquired | 0 | 0 | 0 | 8,553 | |
Additions | 3,315 | 2,576 | 6,025 | 4,030 | |
Payoffs and curtailments | (504) | (441) | (909) | (580) | |
Amortization | (632) | (557) | (1,199) | (1,080) | |
Balance at end of period | 32,970 | 24,444 | 32,970 | 24,444 | |
Loan servicing rights, fair value, start | 36,445 | 26,962 | 32,419 | 17,546 | |
Loan servicing rights, fair value, end | 38,603 | 27,173 | 38,603 | 27,173 | |
Small Business Administration Loans [Member] | |||||
Servicing Assets at Fair Value [Line Items] | |||||
Mortgage loans sold with servicing retained | 305,632 | 305,632 | $ 305,977 | ||
Mortgage loans sold with servicing retained | 11,225 | 15,142 | 23,513 | 24,518 | |
Pretax gains resulting from above loan sales | 1,171 | 816 | 2,272 | 816 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Balance at beginning of period | 5,062 | 5,339 | 5,058 | 0 | |
Additions | 258 | 264 | 646 | 264 | |
Amortization | (287) | (319) | (581) | (379) | |
Balance at end of period | 4,894 | 5,284 | 4,894 | 5,284 | |
Loan servicing rights, fair value, start | 5,062 | 5,339 | 5,058 | 0 | |
Loan servicing rights, fair value, end | 4,894 | 5,299 | 4,894 | 5,299 | |
Service charges | $ 699 | $ 627 | $ 1,449 | $ 742 |
LOAN SERVICING - Activity in SB
LOAN SERVICING - Activity in SBA-Guaranteed Loan Servicing Asset (Detail) - SBA-Guaranteed Loan Servicing [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Servicing Assets at Fair Value [Line Items] | |||||
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance | $ 500 | $ 500 | |||
SBA loans sold to investors with servicing retained | 305,632 | 305,632 | $ 305,977 | ||
SBA loans sold with servicing retained | 11,225 | $ 15,142 | 23,513 | $ 24,518 | |
Gain from sale of SBA loan, pretax | 1,171 | 816 | 2,272 | 816 | |
Servicing Asset at Fair Value, Amount [Roll Forward] | |||||
Balance at beginning of period | 5,062 | 5,339 | 5,058 | 0 | |
Fair value of servicing rights acquired | 0 | 0 | 0 | 5,399 | |
Additions | 258 | 264 | 646 | 264 | |
Impairment (charge) / recovery | (139) | 0 | (229) | 0 | |
Amortization | (287) | (319) | (581) | (379) | |
Balance at end of period | 4,894 | 5,284 | 4,894 | 5,284 | |
Loan servicing rights, fair value, start | 5,062 | 5,339 | 5,058 | 0 | |
Loan servicing rights, fair value, end | $ 4,894 | $ 5,299 | $ 4,894 | $ 5,299 |
LOAN SERVICING - Sensitivity of
LOAN SERVICING - Sensitivity of Fair Value to Changes in key Assumptions (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Mortgage Servicing Rights [Member] | ||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||
Weighted average life (months) | 84 months 25 days | 80 months 12 days |
Constant prepayment rate (annualized) | 9.10% | 9.90% |
Discount rate | 9.90% | 9.90% |
Sensitivity analysis of fair value, change in interest rates, plus .25% | $ 1,286 | $ 1,737 |
Sensitivity analysis of fair value, change in interest rates, plus .50% | 2,319 | 3,220 |
Sensitivity analysis of fair value, change in interest rates, minus .25% | (1,584) | (1,937) |
Sensitivity analysis of fair value, change in interest rates, minus .50% | $ (3,498) | $ (4,007) |
SBA-Guaranteed Loan Servicing [Member] | ||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||
Weighted average life (months) | 58 months 6 days | 63 months 16 days |
Constant prepayment rate (annualized) | 10.51% | 9.29% |
Discount rate | 15.08% | 14.87% |
Effect on fair value due to 10% adverse change of consistent repayment rate | $ (161) | $ (145) |
Effect on fair value due to 20% adverse change of consistent repayment rate | (312) | (284) |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 1 percent adverse change in prepayment speed | 0 | 0 |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 2 percent adverse change in prepayment speed | 0 | 0 |
Effect on fair value due to 10% adverse change of discount rate | 0 | 0 |
Effect on fair value due to 20% adverse change of discount rate | 0 | 0 |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 1 percent adverse change in discount rate | (138) | (147) |
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 2 percent adverse change in discount rate | $ (269) | $ (286) |
BORROWINGS - Summary of Short-T
BORROWINGS - Summary of Short-Term Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | ||
Securities sold under repurchase agreements | $ 239,804 | $ 256,017 |
Federal Home Loan Bank advances | 2,800,000 | 2,285,000 |
Federal funds purchased | 1,165,000 | 1,000,000 |
Subordinated notes | 129,342 | 137,320 |
Total short-term borrowings | $ 4,334,146 | $ 3,678,337 |
BORROWINGS - Summary of Long-Te
BORROWINGS - Summary of Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | ||
Federal Home Loan Bank advances | $ 270,045 | $ 310,061 |
Subordinated notes | 88,762 | 87,614 |
Junior subordinated debt | 110,587 | 110,347 |
Other subordinated debt | 159,544 | 160,151 |
Total long-term borrowings | $ 628,938 | $ 668,173 |
BORROWINGS - Additional Informa
BORROWINGS - Additional Information (Detail) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Overnight maturities | 73.00% | 84.50% |
FHLB [Member] | ||
Debt Instrument [Line Items] | ||
Credit available with FHLB | $ 7,698,000,000 | |
Credit with FHLB utilized | $ 3,100,000,000 | |
Federal Home Loan Bank advances are scheduled to mature periodically through the year | 2,021 | |
Minimum [Member] | FHLB [Member] | ||
Debt Instrument [Line Items] | ||
Effective interest rates | 1.39% | 0.95% |
Maximum [Member] | FHLB [Member] | ||
Debt Instrument [Line Items] | ||
Effective interest rates | 4.19% | 4.19% |
BORROWINGS - Junior Subordinate
BORROWINGS - Junior Subordinated Debt Trusts (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 110,587 | $ 110,347 |
Trust Preferred Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 115,500 | |
Common Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 3,885 | |
F.N.B. Statutory Trust II [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 22,165 | |
Interest Rate | 3.99% | |
F.N.B. Statutory Trust II [Member] | LIBOR [Member] | ||
Subordinated Borrowing [Line Items] | ||
Basis spread on variable rate | 1.65% | |
F.N.B. Statutory Trust II [Member] | Trust Preferred Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 21,500 | |
F.N.B. Statutory Trust II [Member] | Common Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 665 | |
Omega Financial Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 26,493 | |
Interest Rate | 4.55% | |
Omega Financial Capital Trust I [Member] | LIBOR [Member] | ||
Subordinated Borrowing [Line Items] | ||
Basis spread on variable rate | 2.19% | |
Omega Financial Capital Trust I [Member] | Trust Preferred Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 26,000 | |
Omega Financial Capital Trust I [Member] | Common Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 1,114 | |
Yadkin Valley Statutory Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 20,987 | |
Interest Rate | 3.66% | |
Yadkin Valley Statutory Trust I [Member] | LIBOR [Member] | ||
Subordinated Borrowing [Line Items] | ||
Basis spread on variable rate | 1.32% | |
Yadkin Valley Statutory Trust I [Member] | Trust Preferred Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 25,000 | |
Yadkin Valley Statutory Trust I [Member] | Common Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 774 | |
FNB Financial Services Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 21,916 | |
Interest Rate | 3.80% | |
FNB Financial Services Capital Trust I [Member] | LIBOR [Member] | ||
Subordinated Borrowing [Line Items] | ||
Basis spread on variable rate | 1.46% | |
FNB Financial Services Capital Trust I [Member] | Trust Preferred Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 25,000 | |
FNB Financial Services Capital Trust I [Member] | Common Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 774 | |
American Community Capital Trust II [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 10,444 | |
Interest Rate | 5.11% | |
American Community Capital Trust II [Member] | LIBOR [Member] | ||
Subordinated Borrowing [Line Items] | ||
Basis spread on variable rate | 2.80% | |
American Community Capital Trust II [Member] | Trust Preferred Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 10,000 | |
American Community Capital Trust II [Member] | Common Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 310 | |
Crescent Financial Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 8,582 | |
Interest Rate | 5.45% | |
Crescent Financial Capital Trust I [Member] | LIBOR [Member] | ||
Subordinated Borrowing [Line Items] | ||
Basis spread on variable rate | 3.10% | |
Crescent Financial Capital Trust I [Member] | Trust Preferred Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 8,000 | |
Crescent Financial Capital Trust I [Member] | Common Securities [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 248 |
DERIVATIVE INSTRUMENTS AND HE80
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Notional Amounts and Gross Fair Values (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 6,384,656 | $ 5,628,119 |
Derivative asset, not offset against collateral | 4,785 | 1,448 |
Derivative liability, not offset against collateral | 12,346 | 13,581 |
Derivative asset, not subject to master netting arrangement | 16,102 | 29,099 |
Derivative liability, not subject to master netting arrangement | 54,097 | 15,616 |
Fair value, asset | 20,887 | 30,547 |
Fair value, liability | 66,443 | 29,197 |
Interest rate contracts - designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not offset against collateral | 0 | 228 |
Derivative liability, not offset against collateral | 4,372 | 1,982 |
Interest rate swaps - not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not offset against collateral | 4,755 | 1,169 |
Derivative liability, not offset against collateral | 7,974 | 11,599 |
Derivative asset, not subject to master netting arrangement | 14,219 | 27,233 |
Derivative liability, not subject to master netting arrangement | 53,724 | 15,303 |
Equity contracts - not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not offset against collateral | 30 | 51 |
Derivative liability, not offset against collateral | 0 | 0 |
Derivative asset, not subject to master netting arrangement | 0 | 0 |
Derivative liability, not subject to master netting arrangement | 30 | 51 |
Interest rate lock commitments – not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 1,662 | 1,594 |
Derivative liability, not subject to master netting arrangement | 7 | 5 |
Forward delivery commitments – not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 221 | 233 |
Derivative liability, not subject to master netting arrangement | 336 | 148 |
Credit risk contracts - not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 157,200 | |
Derivative asset, not subject to master netting arrangement | 0 | 39 |
Derivative liability, not subject to master netting arrangement | 0 | 109 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 3,398,435 | 2,951,622 |
Subject to Master Netting Arrangements [Member] | Interest rate contracts - designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 855,000 | 705,000 |
Subject to Master Netting Arrangements [Member] | Interest rate swaps - not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,542,255 | 2,245,442 |
Subject to Master Netting Arrangements [Member] | Equity contracts - not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,180 | 1,180 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,986,221 | 2,676,497 |
Not Subject to Master Netting Arrangements [Member] | Interest rate swaps - not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,542,255 | 2,245,442 |
Not Subject to Master Netting Arrangements [Member] | Equity contracts - not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,180 | 1,180 |
Not Subject to Master Netting Arrangements [Member] | Interest rate lock commitments – not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 91,659 | 88,107 |
Not Subject to Master Netting Arrangements [Member] | Forward delivery commitments – not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 107,830 | 106,572 |
Not Subject to Master Netting Arrangements [Member] | Credit risk contracts - not designated [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 243,297 | $ 235,196 |
DERIVATIVE INSTRUMENTS AND HE81
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Key Data Related to Interest Rate (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 6,384,656 | $ 5,628,119 |
Fair value included in other assets | 20,887 | 30,547 |
Fair value included in other liabilities | 66,443 | 29,197 |
Designated as Hedging Instrument [Member] | Interest rate contracts - designated [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 855,000 | 705,000 |
Fair value included in other assets | 0 | 228 |
Designated as Hedging Instrument [Member] | Trading Liabilities [Member] | Interest rate contracts - designated [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value included in other liabilities | 4,372 | 1,982 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 5,084,510 | 4,490,884 |
Fair value included in other assets | 18,974 | 28,402 |
Not Designated as Hedging Instrument [Member] | Trading Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value included in other liabilities | $ 61,698 | $ 26,902 |
DERIVATIVE INSTRUMENTS AND HE82
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Amounts Reclassified from AOCI (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Reclassified from AOCI to interest expense | $ 54,762 | $ 32,619 | $ 101,584 | $ 54,560 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Total [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Reclassified from AOCI to interest income | 25 | |||
Reclassified from AOCI to interest expense | (902) | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net of Tax [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Reclassified from AOCI to interest income | 20 | |||
Reclassified from AOCI to interest expense | $ (713) |
DERIVATIVE INSTRUMENTS AND HE83
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Detail) | 6 Months Ended | ||
Jun. 30, 2018USD ($)advance | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Derivative [Line Items] | |||
Federal home loan bank, number of advances | advance | 7 | ||
Notional amount | $ 6,384,656,000 | $ 5,628,119,000 | |
Additional amount in excess of posted collateral required in case of breached agreements | $ 400,000 | 900,000 | |
Interest rate contracts [Member] | |||
Derivative [Line Items] | |||
Maximum length of time hedged in interest rate cash flow hedge | 5 years | ||
Period to reclassification of cash flow hedge gain loss | 12 months | ||
Derivative gains to be reclassified within twelve months | $ 3,400,000 | ||
Derivative gains to be reclassified within twelve months, net of tax | 2,700,000 | ||
Derivative gain or loses excluded from assessment of hedge effectiveness | 0 | ||
Hedge ineffectiveness | 0 | $ 0 | |
Gains or losses from cash flow hedge derivatives reclassified to earnings | $ 0 | $ 0 | |
Interest Rate Lock Commitments [Member] | Minimum [Member] | |||
Derivative [Line Items] | |||
Lock in period for interest rates | 30 days | ||
Interest Rate Lock Commitments [Member] | Maximum [Member] | |||
Derivative [Line Items] | |||
Lock in period for interest rates | 270 days | ||
Credit risk contracts - not designated [Member] | |||
Derivative [Line Items] | |||
Notional amount | $ 157,200,000 | ||
Maximum exposure under credit risk agreement assuming customer default | 0 | 100,000 | |
Credit risk derivatives, purchased at fair value | 200,000 | 40,000 | |
Credit risk derivatives, sold at fair value | $ 300,000 | $ 100,000 | |
Credit risk contracts - not designated [Member] | Minimum [Member] | |||
Derivative [Line Items] | |||
Risk participation agreements, term | 3 months | ||
Credit risk contracts - not designated [Member] | Maximum [Member] | |||
Derivative [Line Items] | |||
Risk participation agreements, term | 9 years |
DERIVATIVE INSTRUMENTS AND HE84
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 4,785 | $ 1,448 |
Financial Instruments | 4,734 | 1,448 |
Cash Collateral | 0 | 0 |
Net Amount | 51 | 0 |
Interest rate contracts - designated [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 0 | 228 |
Financial Instruments | 0 | 228 |
Cash Collateral | 0 | 0 |
Net Amount | 0 | 0 |
Interest rate swaps - not designated [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 4,755 | 1,169 |
Financial Instruments | 4,704 | 1,169 |
Cash Collateral | 0 | 0 |
Net Amount | 51 | 0 |
Equity contracts - not designated [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 30 | 51 |
Financial Instruments | 30 | 51 |
Cash Collateral | 0 | 0 |
Net Amount | $ 0 | $ 0 |
DERIVATIVE INSTRUMENTS AND HE85
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 12,346 | $ 13,581 |
Financial Instruments | 11,951 | 12,922 |
Cash Collateral | 0 | 0 |
Net Amount | 395 | 659 |
Interest rate contracts - designated [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 4,372 | 1,982 |
Financial Instruments | 4,372 | 1,982 |
Cash Collateral | 0 | 0 |
Net Amount | 0 | 0 |
Interest rate swaps - not designated [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 7,974 | 11,599 |
Financial Instruments | 7,579 | 10,940 |
Cash Collateral | 0 | 0 |
Net Amount | 395 | 659 |
Equity contracts - not designated [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 0 | $ 0 |
DERIVATIVE INSTRUMENTS AND HE86
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effect of Derivative Financial Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Interest Rate Contracts [Member] | Interest Income - Loans and Leases [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 25 | $ 900 |
Interest Rate Contracts [Member] | Interest Expense - Short-term Borrowings [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | (902) | 652 |
Interest Rate Swap [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | 1,259 | (465) |
Credit risk contracts - not designated [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 70 | $ 21 |
COMMITMENTS, CREDIT RISK AND 87
COMMITMENTS, CREDIT RISK AND CONTINGENCIES - Off-Balance Sheet Credit Risk (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 137,054 | $ 132,904 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 7,223,071 | $ 6,957,822 |
COMMITMENTS, CREDIT RISK AND 88
COMMITMENTS, CREDIT RISK AND CONTINGENCIES - Additional Information (Detail) | Jun. 30, 2018 |
Commitments and Contingencies Disclosure [Abstract] | |
Percentage of Commitments to extend credit dependent upon the financial condition of the customers | 76.90% |
STOCK INCENTIVE PLANS - Additio
STOCK INCENTIVE PLANS - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock units issued (in shares) | 937,155 | 707,851 |
Common stock shares available under incentive compensation plans (in shares) | 2,333,089 | |
Unrecognized compensation expense | $ 19,051 | |
Intrinsic value of outstanding and exercisable stock options | $ 2,800 | |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock units issued (in shares) | 937,155 | 707,851 |
Unrecognized compensation expense | $ 19,100 | |
Amount subject to accelerated vesting under Incentive Compensation Plan | $ 1,300 | |
Service-Based Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting period of units issued, years | 3 years | |
Unrecognized compensation expense | $ 12,405 | |
Performance-Based Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting period of units issued, years | 3 years | |
Unrecognized compensation expense | $ 6,646 | |
Performance-Based Units [Member] | Performance Based Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock units issued (in shares) | 283,037 | 251,379 |
Performance-Based Units [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock percentage of number of units issued | 0.00% | |
Performance-Based Units [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock percentage of number of units issued | 175.00% | |
Return On Average Tangible Assets (ROATA) [Member] | Performance-Based Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting period of units issued, years | 3 years | |
Return On Average Tangible Assets (ROATA) [Member] | Performance-Based Units [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock percentage of number of units issued | 0.00% | |
Return On Average Tangible Assets (ROATA) [Member] | Performance-Based Units [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock percentage of number of units issued | 175.00% | |
Total Shareholder Return (TSR) [Member] | Performance-Based Units [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock percentage of number of units issued | 75.00% | |
Total Shareholder Return (TSR) [Member] | Performance-Based Units [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock percentage of number of units issued | 125.00% |
STOCK INCENTIVE PLANS - Schedul
STOCK INCENTIVE PLANS - Schedule of Issuance of Restricted Stock Units and Aggregate Weighted Average Grant Date Fair Values (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Restricted stock units issued (in shares) | 937,155 | 707,851 |
Weighted average grant date fair values | $ 12,370 | $ 10,398 |
STOCK INCENTIVE PLANS - Restric
STOCK INCENTIVE PLANS - Restricted Stock Units Activity (Detail) - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Shares, granted | 937,155 | 707,851 |
Shares, unvested units outstanding at end of period | 2,512,711 | |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Shares, unvested units outstanding at beginning of period | 1,975,862 | 1,836,363 |
Shares, granted | 937,155 | 707,851 |
Shares, vested | (257,712) | (592,202) |
Shares, forfeited/expired | (180,723) | (14,679) |
Shares, dividend reinvestment | 38,129 | 28,454 |
Shares, unvested units outstanding at end of period | 2,512,711 | 1,965,787 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||
Weighted average grant price, invested units outstanding at beginning of period (in USD per share) | $ 13.64 | $ 12.97 |
Weighted average grant price, granted (in USD per share) | 13.20 | 14.69 |
Weighted average grant price, vested (in USD per share) | 13.18 | 12.84 |
Weighted average grant price, forfeited/expired (in USD per share) | 13.30 | 13.23 |
Weighted average grant price, dividend reinvestment (in USD per share) | 14.02 | 14.49 |
Weighted average grant price, invested units outstanding at end of period (in USD per share) | $ 13.56 | $ 13.65 |
STOCK INCENTIVE PLANS - Sched92
STOCK INCENTIVE PLANS - Schedule of Certain Information Related to Restricted Stock Units (Detail) - Restricted Stock [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 4,699 | $ 3,958 |
Tax benefit related to stock-based compensation expense | 987 | 1,385 |
Fair value of units vested | $ 3,472 | $ 8,013 |
STOCK INCENTIVE PLANS - Compone
STOCK INCENTIVE PLANS - Components of Restricted Stock Units (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unvested restricted stock units (in shares) | shares | 2,512,711 |
Unrecognized compensation expense | $ 19,051 |
Intrinsic value | $ 33,721 |
Weighted average remaining life (in years) | 2 years 2 months 7 days |
Service-Based Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unvested restricted stock units (in shares) | shares | 1,449,400 |
Unrecognized compensation expense | $ 12,405 |
Intrinsic value | $ 19,451 |
Weighted average remaining life (in years) | 2 years 3 months 13 days |
Performance-Based Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unvested restricted stock units (in shares) | shares | 1,063,311 |
Unrecognized compensation expense | $ 6,646 |
Intrinsic value | $ 14,270 |
Weighted average remaining life (in years) | 2 years 18 days |
STOCK INCENTIVE PLANS - Stock O
STOCK INCENTIVE PLANS - Stock Options Units Activity (Detail) - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward] | ||
Shares, options outstanding at beginning of period | 722,650 | 892,532 |
Shares, assumed from acquisitions | 0 | 207,645 |
Shares, exercised | (197,390) | (155,597) |
Shares, forfeited/expired | (4,598) | (56,510) |
Shares, options outstanding and exercisable at end of period | 520,662 | 888,070 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||
Weighted average exercise price, options outstanding at beginning of period (in USD per share) | $ 7.96 | $ 8.95 |
Weighted average exercise price, assumed from acquisitions (in USD per share) | 0 | 8.92 |
Weighted average exercise price, exercised (in USD per share) | 7.93 | 9.43 |
Weighted average exercise price, forfeited/expired (in USD per share) | 11.65 | 11.17 |
Weighted average exercise price, options outstanding and exercisable at end of period (in USD per share) | $ 7.96 | $ 8.72 |
RETIREMENT PLANS - Additional I
RETIREMENT PLANS - Additional Information (Detail) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018USD ($)Retirement_Plan | Jun. 30, 2018Retirement_Plan | |
Retirement Benefits [Abstract] | ||
Percent of employer match | 100.00% | |
Employee contribution percentage | 6.00% | |
Employee contribution | $ | $ 0.9 | |
Additional discretionary contribution, annual financial goals, percentage | 3.00% | |
Number of supplemental non qualified retirement plans | Retirement_Plan | 2 | 2 |
RETIREMENT PLANS - Contribution
RETIREMENT PLANS - Contribution Expense (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Retirement Benefits [Abstract] | ||
401(k) contribution expense | $ 8,146 | $ 6,150 |
RETIREMENT PLANS - Net Periodic
RETIREMENT PLANS - Net Periodic Benefit Credit (Detail) - Defined Benefit Plans [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ (4) | $ (4) | $ (8) | $ (8) |
Interest cost | 1,560 | 1,477 | 3,120 | 2,954 |
Expected return on plan assets | (2,895) | (2,427) | (5,790) | (4,854) |
Amortization: | ||||
Unrecognized prior service cost | 0 | 2 | 0 | 4 |
Unrecognized loss | 623 | 628 | 1,246 | 1,256 |
Net periodic pension credit | $ (716) | $ (324) | $ (1,432) | $ (648) |
INCOME TAXES - Income Tax Expen
INCOME TAXES - Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | ||||
Current, federal taxes | $ 5,749 | $ 6,602 | $ 23,449 | $ 13,290 |
Current, state taxes | 1,045 | 1,086 | 2,749 | 1,585 |
Total current income taxes | 6,794 | 7,688 | 26,198 | 14,875 |
Deferred, federal taxes | 13,256 | 22,460 | 15,158 | 24,150 |
Deferred, state taxes | 421 | (531) | 383 | (2,924) |
Total deferred income taxes | 13,677 | 21,929 | 15,541 | 21,226 |
Income taxes | $ 20,471 | $ 29,617 | $ 41,739 | $ 36,101 |
Statutory tax rate | 21.00% | 35.00% | 21.00% | 35.00% |
Effective tax rate | 19.40% | 28.50% | 19.50% | 27.00% |
INCOME TAXES (Details)
INCOME TAXES (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | ||||
Effective tax rate | 19.40% | 28.50% | 19.50% | 27.00% |
OTHER COMPREHENSIVE INCOME (Det
OTHER COMPREHENSIVE INCOME (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |
Balance at beginning of period | $ 4,409,194 |
Balance at end of period | 4,473,242 |
Unrealized Net Losses on Debt Securities Available for Sale [Member] | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |
Balance at beginning of period | (29,626) |
Other comprehensive (loss) income before reclassifications | (38,660) |
Amounts reclassified from AOCI | (24) |
Net current period other comprehensive (loss) income | (38,684) |
Balance at end of period | (68,310) |
Unrealized Net Gains (Losses) on Derivative Instruments [Member] | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |
Balance at beginning of period | 5,407 |
Other comprehensive (loss) income before reclassifications | 5,600 |
Amounts reclassified from AOCI | (721) |
Net current period other comprehensive (loss) income | 4,879 |
Balance at end of period | 10,286 |
Unrecognized Pension and Postretirement Obligations [Member] | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |
Balance at beginning of period | (58,833) |
Other comprehensive (loss) income before reclassifications | 972 |
Amounts reclassified from AOCI | 0 |
Net current period other comprehensive (loss) income | 972 |
Balance at end of period | (57,861) |
Accumulated Other Comprehensive Income (Loss) [Member] | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |
Balance at beginning of period | (83,052) |
Other comprehensive (loss) income before reclassifications | (32,088) |
Amounts reclassified from AOCI | (745) |
Net current period other comprehensive (loss) income | (32,833) |
Balance at end of period | $ (115,885) |
EARNINGS PER COMMON SHARE - Com
EARNINGS PER COMMON SHARE - Computation of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 85,206 | $ 74,406 | $ 171,968 | $ 97,385 |
Less: Preferred stock dividends | 2,010 | 2,010 | 4,020 | 4,020 |
Net Income Available to Common Stockholders | $ 83,196 | $ 72,396 | $ 167,948 | $ 93,365 |
Basic weighted average common shares outstanding | 324,170,177 | 323,303,460 | 323,956,752 | 280,578,720 |
Net effect of dilutive stock options, warrants and restricted stock | 1,559,872 | 1,564,299 | 1,772,440 | 1,706,762 |
Diluted weighted average common shares outstanding | 325,730,049 | 324,867,759 | 325,729,192 | 282,285,482 |
Basic (in USD per share) | $ 0.26 | $ 0.22 | $ 0.52 | $ 0.33 |
Diluted (in USD per share) | $ 0.26 | $ 0.22 | $ 0.52 | $ 0.33 |
EARNINGS PER COMMON SHARE - Ave
EARNINGS PER COMMON SHARE - Average Shares Excluded from Earnings Per Common Share (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings Per Share [Abstract] | ||||
Average shares excluded from the diluted earnings per common share calculation | 72 | 1,266 | 46 | 8,107 |
CASH FLOW INFORMATION (Detail)
CASH FLOW INFORMATION (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Supplemental Cash Flow Elements [Abstract] | ||
Interest paid on deposits and other borrowings | $ 98,926 | $ 51,611 |
Income taxes paid | 6,000 | 43,500 |
Transfers of loans to other real estate owned | $ 7,967 | $ 22,451 |
BUSINESS SEGMENTS - Additional
BUSINESS SEGMENTS - Additional Information (Detail) - Segment | 1 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Segment Reporting Information [Line Items] | ||
Number of reportable segments | 4 | |
Mariner Finance, LLC [Member] | ||
Segment Reporting Information [Line Items] | ||
Stock purchase agreement, stock sold, percentage | 100.00% |
BUSINESS SEGMENTS - Financial I
BUSINESS SEGMENTS - Financial Information for Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||||
Interest income | $ 294,117 | $ 251,034 | $ 567,044 | $ 445,727 | |
Interest expense | 54,762 | 32,619 | 101,584 | 54,560 | |
Net Interest Income | 239,355 | 218,415 | 465,460 | 391,167 | |
Provision for credit losses | 15,554 | 16,756 | 30,049 | 27,606 | |
Non-interest income | 64,889 | 66,078 | 132,392 | 121,194 | |
Non-interest expense | 179,202 | 158,901 | 346,067 | 343,358 | |
Amortization of intangibles | 3,811 | 4,813 | 8,029 | 7,911 | |
Income tax expense (benefit) | 20,471 | 29,617 | 41,739 | 36,101 | |
Net income (loss) | 85,206 | 74,406 | 171,968 | 97,385 | |
Total assets | 32,257,563 | 30,753,726 | 32,257,563 | 30,753,726 | $ 31,417,635 |
Total intangibles | 2,335,445 | 2,346,654 | 2,335,445 | 2,346,654 | |
Operating Segments [Member] | Community Banking [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 284,768 | 241,917 | 548,355 | 427,298 | |
Interest expense | 50,118 | 28,414 | 92,478 | 47,279 | |
Net Interest Income | 234,650 | 213,503 | 455,877 | 380,019 | |
Provision for credit losses | 13,277 | 14,738 | 25,689 | 23,802 | |
Non-interest income | 51,137 | 53,031 | 104,449 | 93,748 | |
Non-interest expense | 159,675 | 141,441 | 308,342 | 309,725 | |
Amortization of intangibles | 3,699 | 4,694 | 7,804 | 7,676 | |
Income tax expense (benefit) | 21,291 | 30,200 | 43,011 | 36,511 | |
Net income (loss) | 87,845 | 75,461 | 175,480 | 96,053 | |
Total assets | 32,034,457 | 30,487,402 | 32,034,457 | 30,487,402 | |
Total intangibles | 2,311,429 | 2,322,326 | 2,311,429 | 2,322,326 | |
Operating Segments [Member] | Wealth Management [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 0 | 0 | 0 | 0 | |
Interest expense | 0 | 0 | 0 | 0 | |
Net Interest Income | 0 | 0 | 0 | 0 | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Non-interest income | 11,239 | 9,821 | 22,241 | 19,370 | |
Non-interest expense | 8,694 | 7,987 | 16,972 | 15,527 | |
Amortization of intangibles | 60 | 65 | 121 | 126 | |
Income tax expense (benefit) | 581 | 651 | 1,170 | 1,362 | |
Net income (loss) | 1,904 | 1,118 | 3,978 | 2,355 | |
Total assets | 25,152 | 22,028 | 25,152 | 22,028 | |
Total intangibles | 10,067 | 10,288 | 10,067 | 10,288 | |
Operating Segments [Member] | Insurance [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 19 | 19 | 39 | 39 | |
Interest expense | 0 | 0 | 0 | 0 | |
Net Interest Income | 19 | 19 | 39 | 39 | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Non-interest income | 3,695 | 3,496 | 7,998 | 7,821 | |
Non-interest expense | 3,895 | 3,456 | 7,606 | 6,771 | |
Amortization of intangibles | 52 | 54 | 104 | 109 | |
Income tax expense (benefit) | (43) | 10 | 81 | 357 | |
Net income (loss) | (190) | (5) | 246 | 623 | |
Total assets | 22,114 | 22,311 | 22,114 | 22,311 | |
Total intangibles | 12,140 | 12,231 | 12,140 | 12,231 | |
Operating Segments [Member] | Consumer Finance [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 9,349 | 10,114 | 18,643 | 20,016 | |
Interest expense | 885 | 888 | 1,795 | 1,810 | |
Net Interest Income | 8,464 | 9,226 | 16,848 | 18,206 | |
Provision for credit losses | 2,277 | 2,018 | 4,360 | 3,804 | |
Non-interest income | 653 | 770 | 1,291 | 1,480 | |
Non-interest expense | 5,293 | 5,288 | 10,523 | 10,519 | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Income tax expense (benefit) | 444 | 1,073 | 918 | 2,140 | |
Net income (loss) | 1,103 | 1,617 | 2,338 | 3,223 | |
Total assets | 167,678 | 183,859 | 167,678 | 183,859 | |
Total intangibles | 1,809 | 1,809 | 1,809 | 1,809 | |
Parent and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | (19) | (1,016) | 7 | (1,626) | |
Interest expense | 3,759 | 3,317 | 7,311 | 5,471 | |
Net Interest Income | (3,778) | (4,333) | (7,304) | (7,097) | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Non-interest income | (1,835) | (1,040) | (3,587) | (1,225) | |
Non-interest expense | 1,645 | 729 | 2,624 | 816 | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Income tax expense (benefit) | (1,802) | (2,317) | (3,441) | (4,269) | |
Net income (loss) | (5,456) | (3,785) | (10,074) | (4,869) | |
Total assets | 8,162 | 38,126 | 8,162 | 38,126 | |
Total intangibles | $ 0 | $ 0 | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS - Asset
FAIR VALUE MEASUREMENTS - Assets and Liabilities on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | $ 3,002,787 | ||
Assets measured at fair value, securities available for sale | 3,002,787 | $ 2,764,562 | |
Loans held for sale | [1] | 28,213 | 56,458 |
Derivative assets | 20,887 | 30,547 | |
Derivative liabilities | 66,443 | 29,197 | |
US Government Agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 95,526 | ||
U.S. Government-Sponsored Entities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 306,934 | 343,942 | |
Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 831,817 | 794,957 | |
Assets measured at fair value, securities available for sale | 831,817 | ||
Non-Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 1 | |
Commercial Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 168,324 | ||
Assets measured at fair value, securities available for sale | 168,324 | ||
States of the U.S. and Political Subdivisions [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 20,735 | 21,093 | |
Other Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 1,855 | 4,670 | |
Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value, securities available for sale | 0 | 161 | |
Derivative assets | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value, securities available for sale | 3,002,787 | 2,764,401 | |
Derivative assets | 19,225 | 28,953 | |
Derivative liabilities | 66,436 | 29,192 | |
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value, securities available for sale | 0 | 0 | |
Derivative assets | 1,662 | 1,594 | |
Derivative liabilities | 7 | 5 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 3,002,787 | 2,763,537 | |
Equity securities | 1,172 | 1,025 | |
Assets measured at fair value, securities available for sale | 2,764,562 | ||
Loans held for sale | 28,213 | 56,458 | |
Derivative assets | 20,887 | 30,547 | |
Assets measured at fair value on a recurring basis, Total | 3,053,059 | 2,851,567 | |
Derivative liabilities | 66,443 | 29,197 | |
Liabilities measured at fair value on a recurring basis, Total | 66,443 | 29,197 | |
Fair Value, Measurements, Recurring [Member] | Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 61,728 | 26,953 | |
Fair Value, Measurements, Recurring [Member] | Not for Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 4,715 | 2,244 | |
Fair Value, Measurements, Recurring [Member] | Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 19,004 | 28,453 | |
Fair Value, Measurements, Recurring [Member] | Not for Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 1,883 | 2,094 | |
Fair Value, Measurements, Recurring [Member] | Fixed Income Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities | 177 | 161 | |
Fair Value, Measurements, Recurring [Member] | Financial Services Industry [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities | 995 | 864 | |
Fair Value, Measurements, Recurring [Member] | US Government Agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 95,526 | ||
Fair Value, Measurements, Recurring [Member] | U.S. Government-Sponsored Entities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 306,934 | 343,942 | |
Fair Value, Measurements, Recurring [Member] | Agency Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 1,577,596 | 1,598,874 | |
Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 831,817 | 794,957 | |
Fair Value, Measurements, Recurring [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 1 | |
Fair Value, Measurements, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 168,324 | ||
Fair Value, Measurements, Recurring [Member] | States of the U.S. and Political Subdivisions [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 20,735 | 21,093 | |
Fair Value, Measurements, Recurring [Member] | Other Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 1,855 | 4,670 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Equity securities | 177 | 161 | |
Assets measured at fair value, securities available for sale | 161 | ||
Loans held for sale | 0 | 0 | |
Derivative assets | 0 | 0 | |
Assets measured at fair value on a recurring basis, Total | 177 | 161 | |
Derivative liabilities | 0 | 0 | |
Liabilities measured at fair value on a recurring basis, Total | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Not for Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Not for Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Fixed Income Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities | 177 | 161 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Financial Services Industry [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | US Government Agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | ||
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. Government-Sponsored Entities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Agency Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commercial Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | ||
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | States of the U.S. and Political Subdivisions [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Other Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 3,002,787 | 2,763,537 | |
Equity securities | 995 | 864 | |
Assets measured at fair value, securities available for sale | 2,764,401 | ||
Loans held for sale | 28,213 | 56,458 | |
Derivative assets | 19,225 | 28,953 | |
Assets measured at fair value on a recurring basis, Total | 3,051,220 | 2,849,812 | |
Derivative liabilities | 66,436 | 29,192 | |
Liabilities measured at fair value on a recurring basis, Total | 66,436 | 29,192 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 61,728 | 26,953 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not for Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 4,708 | 2,239 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 19,004 | 28,453 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not for Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 221 | 500 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Fixed Income Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Financial Services Industry [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities | 995 | 864 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | US Government Agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 95,526 | ||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Government-Sponsored Entities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 306,934 | 343,942 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Agency Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 1,577,596 | 1,598,874 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 831,817 | 794,957 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 1 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commercial Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 168,324 | ||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | States of the U.S. and Political Subdivisions [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 20,735 | 21,093 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 1,855 | 4,670 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Equity securities | 0 | 0 | |
Assets measured at fair value, securities available for sale | 0 | ||
Loans held for sale | 0 | 0 | |
Derivative assets | 1,662 | 1,594 | |
Assets measured at fair value on a recurring basis, Total | 1,662 | 1,594 | |
Derivative liabilities | 7 | 5 | |
Liabilities measured at fair value on a recurring basis, Total | 7 | 5 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Not for Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 7 | 5 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Not for Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 1,662 | 1,594 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Fixed Income Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Financial Services Industry [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | US Government Agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | U.S. Government-Sponsored Entities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Agency Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Commercial Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | States of the U.S. and Political Subdivisions [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Other Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities | $ 0 | $ 0 | |
[1] | Amount represents loans for which we have elected the fair value option. See Note 18. |
FAIR VALUE MEASUREMENTS - Rollf
FAIR VALUE MEASUREMENTS - Rollforward on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | $ 1,594 | $ 1,386 |
Total gains (losses) – realized/unrealized: | ||
Included in earnings | 4 | |
Included in other comprehensive income | 80 | |
Accretion included in earnings | 0 | |
Purchases, issuances, sales and settlements: | ||
Purchases | 1,662 | 13,642 |
Sales/redemptions | (12,921) | |
Settlements | (1,594) | (4,588) |
Transfers from Level 3 | (578) | |
Transfers into Level 3 | 4,569 | |
Balance at end of period | 1,662 | 1,594 |
Other Debt Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | 0 | 0 |
Total gains (losses) – realized/unrealized: | ||
Included in earnings | 0 | |
Included in other comprehensive income | 0 | |
Accretion included in earnings | (1) | |
Purchases, issuances, sales and settlements: | ||
Purchases | 0 | 12,048 |
Sales/redemptions | (12,047) | |
Settlements | 0 | 0 |
Transfers from Level 3 | 0 | |
Transfers into Level 3 | 0 | |
Balance at end of period | 0 | 0 |
Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | 0 | 492 |
Total gains (losses) – realized/unrealized: | ||
Included in earnings | 0 | |
Included in other comprehensive income | 86 | |
Accretion included in earnings | 0 | |
Purchases, issuances, sales and settlements: | ||
Purchases | 0 | 0 |
Sales/redemptions | 0 | |
Settlements | 0 | 0 |
Transfers from Level 3 | (578) | |
Transfers into Level 3 | 0 | |
Balance at end of period | 0 | 0 |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | 0 | 894 |
Total gains (losses) – realized/unrealized: | ||
Included in earnings | 4 | |
Included in other comprehensive income | (6) | |
Accretion included in earnings | 1 | |
Purchases, issuances, sales and settlements: | ||
Purchases | 0 | 0 |
Sales/redemptions | (874) | |
Settlements | 0 | (19) |
Transfers from Level 3 | 0 | |
Transfers into Level 3 | 0 | |
Balance at end of period | 0 | 0 |
Interest Rate Lock Commitments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning of period | 1,594 | 0 |
Total gains (losses) – realized/unrealized: | ||
Included in earnings | 0 | |
Included in other comprehensive income | 0 | |
Accretion included in earnings | 0 | |
Purchases, issuances, sales and settlements: | ||
Purchases | 1,662 | 1,594 |
Sales/redemptions | 0 | |
Settlements | (1,594) | (4,569) |
Transfers from Level 3 | 0 | |
Transfers into Level 3 | 4,569 | |
Balance at end of period | $ 1,662 | $ 1,594 |
FAIR VALUE MEASUREMENTS - Addit
FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Mar. 31, 2017 | |
Fair Value Measurements Disclosure [Line Items] | ||||
Fair value, assets, level 1 to level 2 transfers, amount | $ 0 | |||
Fair value, assets, level 2 to level 1 transfers, amount | 0 | |||
Fair value, liabilities, level 1 to level 2 transfers, amount | 0 | |||
Fair value, liabilities, level 2 to level 1 transfers, amount | 0 | |||
Retained earnings | 457,326,000 | $ 367,658,000 | ||
Allocated allowance for loan losses | 4,400,000 | |||
Provision for fair value measurements included in allowance for loan losses | 4,700,000 | |||
Carrying amount of OREO | 7,600,000 | |||
Written down of OREO | 5,500,000 | |||
Loss from OREO included in earnings | $ 2,100,000 | |||
Short-term borrowings approximate fair value for amounts that mature, days, less than | 90 days | |||
Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements Disclosure [Line Items] | ||||
Impaired loans, carrying amount | $ 7,600,000 | |||
Allocated allowance for loan losses | 7,595,000 | $ 4,110,000 | ||
Assets Still Held [Member] | ||||
Fair Value Measurements Disclosure [Line Items] | ||||
Included in earnings | $ 0 | |||
Other Debt Securities [Member] | Yadkin Financial Corporation (YDKN) [Member] | ||||
Fair Value Measurements Disclosure [Line Items] | ||||
Business acquisition | $ 12,000,000 | |||
Equity Securities [Member] | ||||
Fair Value Measurements Disclosure [Line Items] | ||||
Transfer of equity security to non-marketable equity securities, included in other assets | 0 | |||
Fair value, net derivative asset (liability) measured on recurring basis, unobservable inputs reconciliation, transfers, net | $ 600,000 | |||
Accounting Standards Update 2016-01 [Member] | ||||
Fair Value Measurements Disclosure [Line Items] | ||||
Retained earnings | $ 600,000 |
FAIR VALUE MEASUREMENTS - Ad109
FAIR VALUE MEASUREMENTS - Additional Information on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Impaired loans | $ 4,400 | ||||||
Loans held for sale | [1] | 28,213 | $ 56,458 | ||||
Level 1 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loan servicing rights, fair value | 0 | 0 | |||||
Level 2 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loan servicing rights, fair value | 0 | 0 | |||||
Level 3 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loan servicing rights, fair value | 43,497 | 37,758 | |||||
Fair Value, Measurements, Nonrecurring [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Impaired loans | 7,595 | 4,110 | |||||
Other real estate owned | 5,500 | 21,336 | |||||
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Impaired loans | 0 | 0 | |||||
Other real estate owned | 0 | 0 | |||||
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Impaired loans | 1,460 | 2,813 | |||||
Other real estate owned | 0 | 10,513 | |||||
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Impaired loans | 6,135 | 1,297 | |||||
Other real estate owned | 5,500 | 10,823 | |||||
SBA-Guaranteed Loan Servicing [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loan servicing rights, fair value | 4,894 | $ 5,062 | 5,058 | $ 5,299 | $ 5,339 | $ 0 | |
SBA-Guaranteed Loan Servicing [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loans held for sale | 36,432 | ||||||
Loan servicing rights, fair value | 4,894 | 5,058 | |||||
SBA-Guaranteed Loan Servicing [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loans held for sale | 0 | ||||||
Loan servicing rights, fair value | 0 | 0 | |||||
SBA-Guaranteed Loan Servicing [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loans held for sale | 0 | ||||||
Loan servicing rights, fair value | 0 | 0 | |||||
SBA-Guaranteed Loan Servicing [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loans held for sale | 36,432 | ||||||
Loan servicing rights, fair value | $ 4,894 | $ 5,058 | |||||
[1] | Amount represents loans for which we have elected the fair value option. See Note 18. |
FAIR VALUE MEASUREMENTS - Finan
FAIR VALUE MEASUREMENTS - Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | $ 433,699 | $ 479,443 | $ 522,618 | $ 371,407 |
Securities available for sale | 3,002,787 | 2,764,562 | ||
Securities held to maturity | 3,295,081 | 3,242,268 | ||
Securities held to maturity, fair value | 3,181,275 | 3,218,379 | ||
Derivative assets | 20,887 | 30,547 | ||
Deposits | 22,539,787 | 22,399,725 | ||
Short-term borrowings | 4,334,146 | 3,678,337 | ||
Long-term borrowings | 628,938 | 668,173 | ||
Derivative liabilities | 66,443 | 29,197 | ||
Carrying Amount [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 433,699 | 479,443 | ||
Securities available for sale | 3,002,787 | 2,764,562 | ||
Securities held to maturity | 3,295,081 | 3,242,268 | ||
Net loans and leases | 21,527,120 | 20,916,277 | ||
Loan servicing rights | 37,864 | 34,111 | ||
Marketable securities, equity securities | 1,172 | |||
Derivative assets | 20,887 | 30,547 | ||
Accrued interest receivable | 93,210 | 94,254 | ||
Deposits | 22,539,787 | 22,399,725 | ||
Short-term borrowings | 4,334,146 | 3,678,337 | ||
Long-term borrowings | 628,938 | 668,173 | ||
Derivative liabilities | 66,443 | 29,197 | ||
Accrued interest payable | 15,138 | 12,480 | ||
Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, fair value | 433,699 | 479,443 | ||
Securities available for sale | 3,002,787 | 2,764,562 | ||
Securities held to maturity, fair value | 3,181,275 | 3,218,379 | ||
Net loans and leases, fair value | 21,163,711 | 20,661,196 | ||
Loan servicing rights, fair value | 43,497 | 37,758 | ||
Marketable securities, equity securities, fair value | 1,172 | |||
Derivative assets | 20,887 | 30,547 | ||
Accrued interest receivable | 93,210 | 94,254 | ||
Deposits, fair value | 22,481,472 | 22,359,182 | ||
Short-term borrowings, fair value | 4,334,835 | 3,678,723 | ||
Long-term borrowings, fair value | 624,104 | 675,489 | ||
Derivative liabilities | 66,443 | 29,197 | ||
Accrued interest payable | 15,138 | 12,480 | ||
Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, fair value | 433,699 | 479,443 | ||
Securities available for sale | 0 | 161 | ||
Securities held to maturity, fair value | 0 | 0 | ||
Net loans and leases, fair value | 0 | 0 | ||
Loan servicing rights, fair value | 0 | 0 | ||
Marketable securities, equity securities, fair value | 177 | |||
Derivative assets | 0 | 0 | ||
Accrued interest receivable | 93,210 | 94,254 | ||
Deposits, fair value | 17,668,799 | 17,779,246 | ||
Short-term borrowings, fair value | 4,334,835 | 3,678,723 | ||
Long-term borrowings, fair value | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Accrued interest payable | 15,138 | 12,480 | ||
Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, fair value | 0 | 0 | ||
Securities available for sale | 3,002,787 | 2,764,401 | ||
Securities held to maturity, fair value | 3,181,275 | 3,218,379 | ||
Net loans and leases, fair value | 28,213 | 56,458 | ||
Loan servicing rights, fair value | 0 | 0 | ||
Marketable securities, equity securities, fair value | 995 | |||
Derivative assets | 19,225 | 28,953 | ||
Accrued interest receivable | 0 | 0 | ||
Deposits, fair value | 4,812,673 | 4,579,936 | ||
Short-term borrowings, fair value | 0 | 0 | ||
Long-term borrowings, fair value | 0 | 0 | ||
Derivative liabilities | 66,436 | 29,192 | ||
Accrued interest payable | 0 | 0 | ||
Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, fair value | 0 | 0 | ||
Securities available for sale | 0 | 0 | ||
Securities held to maturity, fair value | 0 | 0 | ||
Net loans and leases, fair value | 21,135,498 | 20,604,738 | ||
Loan servicing rights, fair value | 43,497 | 37,758 | ||
Marketable securities, equity securities, fair value | 0 | |||
Derivative assets | 1,662 | 1,594 | ||
Accrued interest receivable | 0 | 0 | ||
Deposits, fair value | 0 | 0 | ||
Short-term borrowings, fair value | 0 | 0 | ||
Long-term borrowings, fair value | 624,104 | 675,489 | ||
Derivative liabilities | 7 | 5 | ||
Accrued interest payable | $ 0 | $ 0 |