Maryland | 31-0724920 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Large accelerated filer | x | Accelerated filer | ¨ | ||
Non-accelerated filer | ¨ (Do not check if a smaller reporting company) | ||||
Smaller reporting company | ¨ | ||||
Emerging growth company | ¨ |
ABS | Asset-Backed Securities | |
ACL | Allowance for Credit Losses | |
AFS | Available-for-Sale | |
ALCO | Asset-Liability Management Committee | |
ALLL | Allowance for Loan and Lease Losses | |
ANPR | Advance Notice of Proposed Rulemaking | |
ASC | Accounting Standards Codification | |
ATM | Automated Teller Machine | |
AULC | Allowance for Unfunded Loan Commitments | |
Basel III | Refers to the final rule issued by the FRB and OCC and published in the Federal Register on October 11, 2013 | |
BHC | Bank Holding Companies | |
BHC Act | Bank Holding Company Act of 1956 | |
C&I | Commercial and Industrial | |
Camco Financial | Camco Financial Corp. | |
CCAR | Comprehensive Capital Analysis and Review | |
CDO | Collateralized Debt Obligations | |
CDs | Certificate of Deposit | |
CET1 | Common equity tier 1 on a transitional Basel III basis | |
CFPB | Bureau of Consumer Financial Protection | |
CISA | Cybersecurity Information Sharing Act | |
CMO | Collateralized Mortgage Obligations | |
CRA | Community Reinvestment Act | |
CRE | Commercial Real Estate | |
CREVF | Commercial Real Estate and Vehicle Finance | |
DIF | Deposit Insurance Fund | |
Dodd-Frank Act | Dodd-Frank Wall Street Reform and Consumer Protection Act | |
EFT | Electronic Fund Transfer | |
EPS | Earnings Per Share | |
EVE | Economic Value of Equity | |
FASB | Financial Accounting Standards Board | |
FDIC | Federal Deposit Insurance Corporation | |
FDICIA | Federal Deposit Insurance Corporation Improvement Act of 1991 | |
FHA | Federal Housing Administration | |
FHC | Financial Holding Company | |
FHLB | Federal Home Loan Bank |
FICO | Fair Isaac Corporation | |
FirstMerit | FirstMerit Corporation | |
FRB | Federal Reserve Bank | |
FTE | Fully-Taxable Equivalent | |
FTP | Funds Transfer Pricing | |
GAAP | Generally Accepted Accounting Principles in the United States of America | |
HAA | Huntington Asset Advisors, Inc. | |
HASI | Huntington Asset Services, Inc. | |
HQLA | High Quality Liquid Asset | |
HTM | Held-to-Maturity | |
IRS | Internal Revenue Service | |
LCR | Liquidity Coverage Ratio | |
LGD | Loss-Given-Default | |
LIBOR | London Interbank Offered Rate | |
LIHTC | Low Income Housing Tax Credit | |
LTV | Loan to Value | |
Macquarie | Macquarie Equipment Finance, Inc. (U.S. operations) | |
MBS | Mortgage-Backed Securities | |
MD&A | Management’s Discussion and Analysis of Financial Condition and Results of Operations | |
MSA | Metropolitan Statistical Area | |
MSR | Mortgage Servicing Rights | |
NAICS | North American Industry Classification System | |
NALs | Nonaccrual Loans | |
NCO | Net Charge-off | |
NII | Net Interest Income | |
NIM | Net Interest Margin | |
NPAs | Nonperforming Assets | |
N.R. | Not relevant. Denominator of calculation is a gain in the current period compared with a loss in the prior period, or vice-versa | |
OCC | Office of the Comptroller of the Currency | |
OCI | Other Comprehensive Income (Loss) | |
OCR | Optimal Customer Relationship | |
OLEM | Other Loans Especially Mentioned | |
OREO | Other Real Estate Owned | |
OTTI | Other-Than-Temporary Impairment | |
PD | Probability-Of-Default | |
Plan | Huntington Bancshares Retirement Plan | |
RBHPCG | Regional Banking and The Huntington Private Client Group | |
REIT | Real Estate Investment Trust | |
ROC | Risk Oversight Committee | |
RWA | Risk-Weighted Assets | |
SAD | Special Assets Division | |
SBA | Small Business Administration | |
SEC | Securities and Exchange Commission | |
SERP | Supplemental Executive Retirement Plan | |
SRIP | Supplemental Retirement Income Plan | |
TCE | Tangible Common Equity | |
TDR | Troubled Debt Restructured Loan | |
U.S. Treasury | U.S. Department of the Treasury | |
UCS | Uniform Classification System | |
Unified | Unified Financial Securities, Inc. | |
UPB | Unpaid Principal Balance | |
USDA | U.S. Department of Agriculture | |
VIE | Variable Interest Entity | |
XBRL | eXtensible Business Reporting Language | |
Table 1 - Selected Quarterly Income Statement Data (1) | |||||||||||||||||||
(dollar amounts in thousands, except per share amounts) | |||||||||||||||||||
Three Months Ended | |||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
2017 | 2017 | 2016 | 2016 | 2016 | |||||||||||||||
Interest income | $ | 846,424 | $ | 820,360 | $ | 814,858 | $ | 694,346 | $ | 565,658 | |||||||||
Interest expense | 101,912 | 90,385 | 79,877 | 68,956 | 59,777 | ||||||||||||||
Net interest income | 744,512 | 729,975 | 734,981 | 625,390 | 505,881 | ||||||||||||||
Provision for credit losses | 24,978 | 67,638 | 74,906 | 63,805 | 24,509 | ||||||||||||||
Net interest income after provision for credit losses | 719,534 | 662,337 | 660,075 | 561,585 | 481,372 | ||||||||||||||
Service charges on deposit accounts | 87,582 | 83,420 | 91,577 | 86,847 | 75,613 | ||||||||||||||
Cards and payment processing income | 52,485 | 47,169 | 49,113 | 44,320 | 39,184 | ||||||||||||||
Mortgage banking income | 32,268 | 31,692 | 37,520 | 40,603 | 31,591 | ||||||||||||||
Trust and investment management services | 32,232 | 33,869 | 34,016 | 28,923 | 22,497 | ||||||||||||||
Insurance income | 15,843 | 15,264 | 16,486 | 15,865 | 15,947 | ||||||||||||||
Brokerage income | 16,294 | 15,758 | 17,014 | 14,719 | 14,599 | ||||||||||||||
Capital markets fees | 16,836 | 14,200 | 18,730 | 14,750 | 13,037 | ||||||||||||||
Bank owned life insurance income | 15,322 | 17,542 | 17,067 | 14,452 | 12,536 | ||||||||||||||
Gain on sale of loans | 12,002 | 12,822 | 24,987 | 7,506 | 9,265 | ||||||||||||||
Securities gains (losses) | 135 | (8 | ) | (1,771 | ) | 1,031 | 656 | ||||||||||||
Other Income | 44,219 | 40,735 | 29,598 | 33,399 | 36,187 | ||||||||||||||
Total noninterest income | 325,218 | 312,463 | 334,337 | 302,415 | 271,112 | ||||||||||||||
Personnel costs | 391,997 | 382,000 | 359,755 | 405,024 | 298,949 | ||||||||||||||
Outside data processing and other services | 75,169 | 87,202 | 88,695 | 91,133 | 63,037 | ||||||||||||||
Equipment | 42,924 | 46,700 | 59,666 | 40,792 | 31,805 | ||||||||||||||
Net occupancy | 52,613 | 67,700 | 49,450 | 41,460 | 30,704 | ||||||||||||||
Professional services | 18,190 | 18,295 | 23,165 | 47,075 | 21,488 | ||||||||||||||
Marketing | 18,843 | 13,923 | 21,478 | 14,438 | 14,773 | ||||||||||||||
Deposit and other insurance expense | 20,418 | 20,099 | 15,772 | 14,940 | 12,187 | ||||||||||||||
Amortization of intangibles | 14,242 | 14,355 | 14,099 | 9,046 | 3,600 | ||||||||||||||
Other expense | 59,968 | 57,148 | 49,417 | 48,339 | 47,118 | ||||||||||||||
Total noninterest expense | 694,364 | 707,422 | 681,497 | 712,247 | 523,661 | ||||||||||||||
Income before income taxes | 350,388 | 267,378 | 312,915 | 151,753 | 228,823 | ||||||||||||||
Provision for income taxes | 78,647 | 59,284 | 73,952 | 24,749 | 54,283 | ||||||||||||||
Net income | 271,741 | 208,094 | 238,963 | 127,004 | 174,540 | ||||||||||||||
Dividends on preferred shares | 18,889 | 18,878 | 18,865 | 18,537 | 19,874 | ||||||||||||||
Net income applicable to common shares | $ | 252,852 | $ | 189,216 | $ | 220,098 | $ | 108,467 | $ | 154,666 | |||||||||
Average common shares—basic | 1,088,934 | 1,086,374 | 1,085,253 | 938,578 | 798,167 | ||||||||||||||
Average common shares—diluted | 1,108,527 | 1,108,617 | 1,104,358 | 952,081 | 810,371 | ||||||||||||||
Net income per common share—basic | $ | 0.23 | $ | 0.17 | $ | 0.20 | $ | 0.12 | $ | 0.19 | |||||||||
Net income per common share—diluted | 0.23 | 0.17 | 0.20 | 0.11 | 0.19 | ||||||||||||||
Cash dividends declared per common share | 0.08 | 0.08 | 0.08 | 0.07 | 0.07 | ||||||||||||||
Return on average total assets | 1.09 | % | 0.84 | % | 0.95 | % | 0.58 | % | 0.96 | % | |||||||||
Return on average common shareholders’ equity | 10.6 | 8.2 | 9.4 | 5.4 | 9.6 | ||||||||||||||
Return on average tangible common shareholders’ equity (2) | 14.4 | 11.3 | 12.9 | 7.0 | 11.0 | ||||||||||||||
Net interest margin (3) | 3.31 | 3.30 | 3.25 | 3.18 | 3.06 | ||||||||||||||
Efficiency ratio (4) | 62.9 | 65.7 | 61.6 | 75.0 | 66.1 | ||||||||||||||
Effective tax rate | 22.4 | 22.2 | 23.6 | 16.3 | 23.7 | ||||||||||||||
Revenue—FTE | |||||||||||||||||||
Net interest income | $ | 744,512 | $ | 729,975 | $ | 734,981 | $ | 625,390 | $ | 505,881 | |||||||||
FTE adjustment | 12,069 | 12,058 | 12,560 | 10,598 | 10,091 | ||||||||||||||
Net interest income (3) | 756,581 | 742,033 | 747,541 | 635,988 | 515,972 | ||||||||||||||
Noninterest income | 325,218 | 312,463 | 334,337 | 302,415 | 271,112 | ||||||||||||||
Total revenue (3) | $ | 1,081,799 | $ | 1,054,496 | $ | 1,081,878 | $ | 938,403 | $ | 787,084 |
Table 2 - Selected Year to Date Income Statements (1) | ||||||||||||||
(dollar amounts in thousands, except per share amounts) | ||||||||||||||
Six Months Ended June 30, | Change | |||||||||||||
2017 | 2016 | Amount | Percent | |||||||||||
Interest income | $ | 1,666,784 | $ | 1,122,909 | $ | 543,875 | 48 | % | ||||||
Interest expense | 192,297 | 113,962 | 78,335 | 69 | ||||||||||
Net interest income | 1,474,487 | 1,008,947 | 465,540 | 46 | ||||||||||
Provision for credit losses | 92,616 | 52,091 | 40,525 | 78 | ||||||||||
Net interest income after provision for credit losses | 1,381,871 | 956,856 | 425,015 | 44 | ||||||||||
Service charges on deposit accounts | 171,002 | 145,875 | 25,127 | 17 | ||||||||||
Cards and payment processing income | 99,654 | 75,631 | 24,023 | 32 | ||||||||||
Mortgage banking income | 63,960 | 50,134 | 13,826 | 28 | ||||||||||
Trust and investment management services | 66,101 | 45,335 | 20,766 | 46 | ||||||||||
Insurance income | 31,107 | 32,172 | (1,065 | ) | (3 | ) | ||||||||
Brokerage income | 32,052 | 30,101 | 1,951 | 6 | ||||||||||
Capital markets fees | 31,036 | 26,047 | 4,989 | 19 | ||||||||||
Bank owned life insurance income | 32,864 | 26,049 | 6,815 | 26 | ||||||||||
Gain on sale of loans | 24,824 | 14,660 | 10,164 | 69 | ||||||||||
Securities gains | 127 | 656 | (529 | ) | (81 | ) | ||||||||
Other income | 84,954 | 66,319 | 18,635 | 28 | ||||||||||
Total noninterest income | 637,681 | 512,979 | 124,702 | 24 | ||||||||||
Personnel costs | 773,997 | 584,346 | 189,651 | 32 | ||||||||||
Outside data processing and other services | 162,371 | 124,915 | 37,456 | 30 | ||||||||||
Equipment | 89,624 | 64,381 | 25,243 | 39 | ||||||||||
Net occupancy | 120,313 | 62,180 | 58,133 | 93 | ||||||||||
Professional services | 36,485 | 35,026 | 1,459 | 4 | ||||||||||
Marketing | 32,766 | 27,041 | 5,725 | 21 | ||||||||||
Deposit and other insurance expense | 40,517 | 23,395 | 17,122 | 73 | ||||||||||
Amortization of intangibles | 28,597 | 7,312 | 21,285 | 291 | ||||||||||
Other expense | 117,116 | 86,145 | 30,971 | 36 | ||||||||||
Total noninterest expense | 1,401,786 | 1,014,741 | 387,045 | 38 | ||||||||||
Income before income taxes | 617,766 | 455,094 | 162,672 | 36 | ||||||||||
Provision for income taxes | 137,931 | 109,240 | 28,691 | 26 | ||||||||||
Net income | 479,835 | 345,854 | 133,981 | 39 | ||||||||||
Dividends declared on preferred shares | 37,767 | 27,872 | 9,895 | 36 | ||||||||||
Net income applicable to common shares | $ | 442,068 | $ | 317,982 | $ | 124,086 | 39 | % | ||||||
Average common shares—basic | 1,087,654 | 796,961 | 290,693 | 36 | % | |||||||||
Average common shares—diluted | 1,108,572 | 809,360 | 299,212 | 37 | ||||||||||
Net income per common share—basic | $ | 0.41 | $ | 0.40 | $ | 0.01 | 3 | |||||||
Net income per common share—diluted | 0.40 | 0.39 | 0.01 | 3 | ||||||||||
Cash dividends declared per common share | 0.16 | 0.14 | 0.02 | 14 | ||||||||||
Revenue—FTE | ||||||||||||||
Net interest income | $ | 1,474,487 | $ | 1,008,947 | $ | 465,540 | 46 | % | ||||||
FTE adjustment | 24,127 | 19,250 | 4,877 | 25 | ||||||||||
Net interest income (3) | 1,498,614 | 1,028,197 | 470,417 | 46 | ||||||||||
Noninterest income | 637,681 | 512,979 | 124,702 | 24 | ||||||||||
Total revenue (3) | $ | 2,136,295 | $ | 1,541,176 | $ | 595,119 | 39 | % |
(1) | Comparisons for presented periods are impacted by a number of factors. Refer to the “Significant Items” for additional discussion regarding these key factors. |
(2) | Net income excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate. |
(3) | On a fully-taxable equivalent (FTE) basis assuming a 35% tax rate. |
(4) | Noninterest expense less amortization of intangibles and goodwill impairment divided by the sum of FTE net interest income and noninterest income excluding securities gains. |
• | During the 2017 second quarter, $50 million of noninterest expense was recorded related to the acquisition of FirstMerit. This resulted in a negative impact of $0.03 per common share. |
• | During the 2017 first quarter, $73 million of noninterest expense and $2 million of noninterest income was recorded related to the acquisition of FirstMerit. This resulted in a negative impact of $0.04 per common share. |
• | During the 2016 second quarter, $21 million of noninterest expense was recorded related to the then pending acquisition of FirstMerit. This resulted in a negative impact of $0.02 per common share. |
Table 3 - Significant Items Influencing Earnings Performance Comparison | |||||||||||||||||||||||
(dollar amounts in thousands, except per share amounts) | |||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||
June 30, 2017 | March 31, 2017 | June 30, 2016 | |||||||||||||||||||||
Amount | EPS (1) | Amount | EPS (1) | Amount | EPS (1) | ||||||||||||||||||
Net income | $ | 271,741 | $ | 208,094 | $ | 174,540 | |||||||||||||||||
Earnings per share, after-tax | $ | 0.23 | $ | 0.17 | $ | 0.19 | |||||||||||||||||
Significant Items—favorable (unfavorable) impact: | Earnings | EPS (1) | Earnings | EPS (1) | Earnings | EPS (1) | |||||||||||||||||
Mergers and acquisitions, net expenses | $ | (50,243 | ) | $ | (71,145 | ) | $ | (20,789 | ) | ||||||||||||||
Tax impact | 17,585 | 24,901 | 7,213 | ||||||||||||||||||||
Mergers and acquisitions, after-tax | $ | (32,658 | ) | $ | (0.03 | ) | $ | (46,244 | ) | $ | (0.04 | ) | $ | (13,576 | ) | $ | (0.02 | ) |
(1) | Based upon the quarterly average outstanding diluted common shares. |
Six Months Ended | |||||||||||||||
June 30, 2017 | June 30, 2016 | ||||||||||||||
After-tax | EPS (1) | After-tax | EPS (1) | ||||||||||||
Net income | $ | 479,835 | $ | 345,854 | |||||||||||
Earnings per share, after-tax | $ | 0.40 | $ | 0.39 | |||||||||||
Significant Items—favorable (unfavorable) impact: | Earnings | EPS (1) | Earnings | EPS (1) | |||||||||||
Mergers and acquisitions, net expenses | $ | (121,388 | ) | $ | (27,195 | ) | |||||||||
Tax impact | 42,486 | 9,219 | |||||||||||||
Mergers and acquisitions, after-tax | $ | (78,902 | ) | $ | (0.07 | ) | $ | (17,976 | ) | $ | (0.03 | ) |
(1) | Based upon the year to date average outstanding diluted common shares. |
Table 4 - Consolidated Average Balance Sheet and Net Interest Margin Analysis | ||||||||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||||||||
Average Balances | ||||||||||||||||||||||||||
Three Months Ended | Change | |||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | 2Q17 vs. 2Q16 | |||||||||||||||||||||
2017 | 2017 | 2016 | 2016 | 2016 | Amount | Percent | ||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Interest-bearing deposits in banks | $ | 102 | $ | 100 | $ | 110 | $ | 95 | $ | 99 | $ | 3 | 4 | % | ||||||||||||
Loans held for sale | 525 | 415 | 2,507 | 695 | 571 | (46 | ) | (8 | ) | |||||||||||||||||
Securities: | ||||||||||||||||||||||||||
Available-for-sale and other securities: | ||||||||||||||||||||||||||
Taxable | 13,135 | 12,801 | 13,734 | 9,785 | 6,904 | 6,231 | 90 | |||||||||||||||||||
Tax-exempt | 3,104 | 3,049 | 3,136 | 2,854 | 2,510 | 594 | 24 | |||||||||||||||||||
Total available-for-sale and other securities | 16,239 | 15,850 | 16,870 | 12,639 | 9,414 | 6,825 | 72 | |||||||||||||||||||
Trading account securities | 91 | 137 | 139 | 49 | 41 | 50 | 121 | |||||||||||||||||||
Held-to-maturity securities—taxable | 7,427 | 7,656 | 5,432 | 5,487 | 5,806 | 1,621 | 28 | |||||||||||||||||||
Total securities | 23,756 | 23,643 | 22,441 | 18,175 | 15,261 | 8,495 | 56 | |||||||||||||||||||
Loans and leases: (1) | ||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||
Commercial and industrial | 27,992 | 27,922 | 27,727 | 24,957 | 21,344 | 6,648 | 31 | |||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||||
Construction | 1,130 | 1,314 | 1,413 | 1,132 | 881 | 249 | 28 | |||||||||||||||||||
Commercial | 5,940 | 6,039 | 5,805 | 5,227 | 4,345 | 1,595 | 37 | |||||||||||||||||||
Commercial real estate | 7,070 | 7,353 | 7,218 | 6,359 | 5,226 | 1,844 | 35 | |||||||||||||||||||
Total commercial | 35,062 | 35,276 | 34,945 | 31,316 | 26,570 | 8,492 | 32 | |||||||||||||||||||
Consumer: | ||||||||||||||||||||||||||
Automobile | 11,324 | 11,063 | 10,866 | 11,402 | 10,146 | 1,178 | 12 | |||||||||||||||||||
Home equity | 9,958 | 10,072 | 10,101 | 9,260 | 8,416 | 1,542 | 18 | |||||||||||||||||||
Residential mortgage | 7,979 | 7,777 | 7,690 | 7,012 | 6,187 | 1,792 | 29 | |||||||||||||||||||
RV and marine finance | 2,039 | 1,874 | 1,844 | 915 | — | N.R. | N.R. | |||||||||||||||||||
Other consumer | 983 | 919 | 959 | 817 | 613 | 370 | 60 | |||||||||||||||||||
Total consumer | 32,283 | 31,705 | 31,460 | 29,406 | 25,362 | 6,921 | 27 | |||||||||||||||||||
Total loans and leases | 67,345 | 66,981 | 66,405 | 60,722 | 51,932 | 15,413 | 30 | |||||||||||||||||||
Allowance for loan and lease losses | (672 | ) | (636 | ) | (614 | ) | (623 | ) | (616 | ) | (56 | ) | 9 | |||||||||||||
Net loans and leases | 66,673 | 66,345 | 65,791 | 60,099 | 51,316 | 15,357 | 30 | |||||||||||||||||||
Total earning assets | 91,728 | 91,139 | 91,463 | 79,687 | 67,863 | 23,865 | 35 | |||||||||||||||||||
Cash and due from banks | 1,287 | 2,011 | 1,538 | 1,325 | 1,001 | 286 | 29 | |||||||||||||||||||
Intangible assets | 2,373 | 2,387 | 2,421 | 1,547 | 726 | 1,647 | 227 | |||||||||||||||||||
All other assets | 5,405 | 5,442 | 5,559 | 4,962 | 4,149 | 1,256 | 30 | |||||||||||||||||||
Total assets | $ | 100,121 | $ | 100,343 | $ | 100,367 | $ | 86,898 | $ | 73,123 | $ | 26,998 | 37 | % | ||||||||||||
Liabilities and Shareholders’ Equity: | ||||||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||||||
Demand deposits—noninterest-bearing | $ | 21,599 | $ | 21,730 | $ | 23,250 | $ | 20,033 | $ | 16,507 | $ | 5,092 | 31 | % | ||||||||||||
Demand deposits—interest-bearing | 17,445 | 16,805 | 15,294 | 12,362 | 8,445 | 9,000 | 107 | |||||||||||||||||||
Total demand deposits | 39,044 | 38,535 | 38,544 | 32,395 | 24,952 | 14,092 | 56 | |||||||||||||||||||
Money market deposits | 19,212 | 18,653 | 18,618 | 18,453 | 19,534 | (322 | ) | (2 | ) | |||||||||||||||||
Savings and other domestic deposits | 11,889 | 11,970 | 12,272 | 8,889 | 5,402 | 6,487 | 120 | |||||||||||||||||||
Core certificates of deposit | 2,146 | 2,342 | 2,636 | 2,285 | 2,007 | 139 | 7 | |||||||||||||||||||
Total core deposits | 72,291 | 71,500 | 72,070 | 62,022 | 51,895 | 20,396 | 39 | |||||||||||||||||||
Other domestic time deposits of $250,000 or more | 479 | 470 | 391 | 382 | 402 | 77 | 19 | |||||||||||||||||||
Brokered deposits and negotiable CDs | 3,783 | 3,969 | 4,273 | 3,904 | 2,909 | 874 | 30 | |||||||||||||||||||
Deposits in foreign offices | — | — | 152 | 194 | 208 | (208 | ) | — | ||||||||||||||||||
Total deposits | 76,553 | 75,939 | 76,886 | 66,502 | 55,414 | 21,139 | 38 | |||||||||||||||||||
Short-term borrowings | 2,687 | 3,792 | 2,628 | 1,306 | 1,032 | 1,655 | 160 | |||||||||||||||||||
Long-term debt | 8,730 | 8,529 | 8,594 | 8,488 | 7,899 | 831 | 11 | |||||||||||||||||||
Total interest-bearing liabilities | 66,371 | 66,530 | 64,858 | 56,263 | 47,838 | 18,533 | 39 | |||||||||||||||||||
All other liabilities | 1,557 | 1,661 | 1,833 | 1,608 | 1,416 | 141 | 10 | |||||||||||||||||||
Shareholders’ equity | 10,594 | 10,422 | 10,426 | 8,994 | 7,362 | 3,232 | 44 | |||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 100,121 | $ | 100,343 | $ | 100,367 | $ | 86,898 | $ | 73,123 | $ | 26,998 | 37 | % |
Table 4 - Consolidated Average Balance Sheet and Net Interest Margin Analysis (Continued) | ||||||||||||||
Average Yield Rates (2) | ||||||||||||||
Three Months Ended | ||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||
Fully-taxable equivalent basis (3) | 2017 | 2017 | 2016 | 2016 | 2016 | |||||||||
Assets: | ||||||||||||||
Interest-bearing deposits in banks | 1.53 | % | 1.09 | % | 0.64 | % | 0.64 | % | 0.25 | % | ||||
Loans held for sale | 3.73 | 3.82 | 2.95 | 3.53 | 3.89 | |||||||||
Securities: | ||||||||||||||
Available-for-sale and other securities: | ||||||||||||||
Taxable | 2.38 | 2.38 | 2.43 | 2.35 | 2.37 | |||||||||
Tax-exempt | 3.71 | 3.77 | 3.60 | 3.01 | 3.38 | |||||||||
Total available-for-sale and other securities | 2.64 | 2.65 | 2.65 | 2.50 | 2.64 | |||||||||
Trading account securities | 0.25 | 0.11 | 0.18 | 0.58 | 0.98 | |||||||||
Held-to-maturity securities—taxable | 2.38 | 2.36 | 2.43 | 2.41 | 2.44 | |||||||||
Total securities | 2.55 | 2.54 | 2.58 | 2.47 | 2.56 | |||||||||
Loans and leases: (1) | ||||||||||||||
Commercial: | ||||||||||||||
Commercial and industrial | 4.04 | 3.98 | 3.83 | 3.68 | 3.49 | |||||||||
Commercial real estate: | ||||||||||||||
Construction | 4.26 | 3.95 | 3.65 | 3.76 | 3.70 | |||||||||
Commercial | 3.97 | 3.69 | 3.54 | 3.54 | 3.35 | |||||||||
Commercial real estate | 4.02 | 3.74 | 3.56 | 3.58 | 3.41 | |||||||||
Total commercial | 4.04 | 3.93 | 3.78 | 3.66 | 3.47 | |||||||||
Consumer: | ||||||||||||||
Automobile | 3.55 | 3.55 | 3.57 | 3.37 | 3.15 | |||||||||
Home equity | 4.61 | 4.45 | 4.24 | 4.21 | 4.17 | |||||||||
Residential mortgage | 3.66 | 3.63 | 3.58 | 3.61 | 3.65 | |||||||||
RV and marine finance | 5.57 | 5.63 | 5.64 | 5.70 | — | |||||||||
Other consumer | 11.47 | 12.05 | 10.91 | 10.93 | 10.28 | |||||||||
Total consumer | 4.27 | 4.23 | 4.13 | 3.97 | 3.79 | |||||||||
Total loans and leases | 4.15 | 4.07 | 3.95 | 3.81 | 3.63 | |||||||||
Total earning assets | 3.75 | 3.70 | 3.60 | 3.52 | 3.41 | |||||||||
Liabilities: | ||||||||||||||
Deposits: | ||||||||||||||
Demand deposits—noninterest-bearing | — | — | — | — | — | |||||||||
Demand deposits—interest-bearing | 0.20 | 0.15 | 0.11 | 0.11 | 0.09 | |||||||||
Total demand deposits | 0.09 | 0.07 | 0.04 | 0.04 | 0.03 | |||||||||
Money market deposits | 0.31 | 0.26 | 0.24 | 0.24 | 0.24 | |||||||||
Savings and other domestic deposits | 0.21 | 0.22 | 0.25 | 0.21 | 0.11 | |||||||||
Core certificates of deposit | 0.56 | 0.39 | 0.29 | 0.43 | 0.79 | |||||||||
Total core deposits | 0.26 | 0.22 | 0.20 | 0.20 | 0.22 | |||||||||
Other domestic time deposits of $250,000 or more | 0.49 | 0.45 | 0.39 | 0.40 | 0.40 | |||||||||
Brokered deposits and negotiable CDs | 0.95 | 0.72 | 0.48 | 0.44 | 0.40 | |||||||||
Deposits in foreign offices | — | — | 0.13 | 0.13 | 0.13 | |||||||||
Total deposits | 0.31 | 0.26 | 0.23 | 0.22 | 0.23 | |||||||||
Short-term borrowings | 0.78 | 0.63 | 0.36 | 0.29 | 0.36 | |||||||||
Long-term debt | 2.49 | 2.33 | 2.19 | 1.97 | 1.85 | |||||||||
Total interest-bearing liabilities | 0.61 | 0.54 | 0.48 | 0.49 | 0.50 | |||||||||
Net interest rate spread | 3.14 | 3.16 | 3.12 | 3.03 | 2.91 | |||||||||
Impact of noninterest-bearing funds on margin | 0.17 | 0.14 | 0.13 | 0.15 | 0.15 | |||||||||
Net interest margin | 3.31 | % | 3.30 | % | 3.25 | % | 3.18 | % | 3.06 | % |
(1) | For purposes of this analysis, NALs are reflected in the average balances of loans. |
(2) | Loan and lease and deposit average rates include impact of applicable derivatives, non-deferrable fees, and amortized fees. |
(3) | FTE yields are calculated assuming a 35% tax rate. |
Table 5 - Consolidated YTD Average Balance Sheets and Net Interest Margin Analysis | ||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||
YTD Average Balances | YTD Average Rates (2) | |||||||||||||||||||
Six Months Ended June 30, | Change | Six Months Ended June 30, | ||||||||||||||||||
Fully-taxable equivalent basis (1) | 2017 | 2016 | Amount | Percent | 2017 | 2016 | ||||||||||||||
Assets: | ||||||||||||||||||||
Interest-bearing deposits in banks | $ | 101 | $ | 98 | $ | 3 | 3 | % | 1.31 | % | 0.23 | % | ||||||||
Loans held for sale | 470 | 502 | (32 | ) | (6 | ) | 3.76 | 3.93 | ||||||||||||
Securities: | ||||||||||||||||||||
Available-for-sale and other securities: | ||||||||||||||||||||
Taxable | 12,969 | 6,768 | 6,201 | 92 | 2.38 | 2.38 | ||||||||||||||
Tax-exempt | 3,076 | 2,434 | 642 | 26 | 3.74 | 3.39 | ||||||||||||||
Total available-for-sale and other securities | 16,045 | 9,202 | 6,843 | 74 | 2.64 | 2.65 | ||||||||||||||
Trading account securities | 114 | 40 | 74 | 185 | 0.17 | 0.75 | ||||||||||||||
Held-to-maturity securities—taxable | 7,541 | 5,930 | 1,611 | 27 | 2.37 | 2.44 | ||||||||||||||
Total securities | 23,700 | 15,172 | 8,528 | 56 | 2.55 | 2.56 | ||||||||||||||
Loans and leases: (3) | ||||||||||||||||||||
Commercial: | ||||||||||||||||||||
Commercial and industrial | 27,957 | 20,996 | 6,961 | 33 | 4.01 | 3.51 | ||||||||||||||
Commercial real estate: | ||||||||||||||||||||
Construction | 1,221 | 902 | 319 | 35 | 4.09 | 3.60 | ||||||||||||||
Commercial | 5,990 | 4,314 | 1,676 | 39 | 3.83 | 3.47 | ||||||||||||||
Commercial real estate | 7,211 | 5,216 | 1,995 | 38 | 3.88 | 3.49 | ||||||||||||||
Total commercial | 35,168 | 26,212 | 8,956 | 34 | 3.98 | 3.50 | ||||||||||||||
Consumer: | ||||||||||||||||||||
Automobile | 11,194 | 9,938 | 1,256 | 13 | 3.55 | 3.16 | ||||||||||||||
Home equity | 9,994 | 8,429 | 1,565 | 19 | 4.54 | 4.18 | ||||||||||||||
Residential mortgage | 7,879 | 6,102 | 1,777 | 29 | 3.65 | 3.67 | ||||||||||||||
RV and marine finance | 1,957 | — | 1,957 | N.R. | 5.60 | — | ||||||||||||||
Other consumer | 972 | 594 | 378 | 64 | 11.49 | 10.16 | ||||||||||||||
Total consumer | 31,996 | 25,063 | 6,933 | 28 | 4.25 | 3.80 | ||||||||||||||
Total loans and leases | 67,164 | 51,275 | 15,889 | 31 | 4.11 | 3.65 | ||||||||||||||
Allowance for loan and lease losses | (654 | ) | (610 | ) | (44 | ) | 7 | |||||||||||||
Net loans and leases | 66,510 | 50,665 | 15,845 | 31 | ||||||||||||||||
Total earning assets | 91,435 | 67,047 | 24,388 | 36 | 3.73 | % | 3.43 | % | ||||||||||||
Cash and due from banks | 1,647 | 1,007 | 640 | 64 | ||||||||||||||||
Intangible assets | 2,380 | 728 | 1,652 | 227 | ||||||||||||||||
All other assets | 5,424 | 4,187 | 1,237 | 30 | ||||||||||||||||
Total assets | $ | 100,232 | $ | 72,359 | $ | 27,873 | 39 | % | ||||||||||||
Liabilities and Shareholders’ Equity: | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Demand deposits—noninterest-bearing | $ | 21,664 | $ | 16,421 | $ | 5,243 | 32 | % | — | % | — | % | ||||||||
Demand deposits—interest-bearing | 17,127 | 8,111 | 9,016 | 111 | 0.18 | 0.09 | ||||||||||||||
Total demand deposits | 38,791 | 24,532 | 14,259 | 58 | 0.08 | 0.03 | ||||||||||||||
Money market deposits | 18,934 | 19,608 | (674 | ) | (3 | ) | 0.29 | 0.24 | ||||||||||||
Savings and other domestic deposits | 11,930 | 5,354 | 6,576 | 123 | 0.21 | 0.12 | ||||||||||||||
Core certificates of deposit | 2,243 | 2,136 | 107 | 5 | 0.47 | 0.81 | ||||||||||||||
Total core deposits | 71,898 | 51,630 | 20,268 | 39 | 0.24 | 0.22 | ||||||||||||||
Other domestic time deposits of $250,000 or more | 474 | 429 | 45 | 10 | 0.47 | 0.40 | ||||||||||||||
Brokered deposits and negotiable CDs | 3,876 | 2,903 | 973 | 34 | 0.83 | 0.39 | ||||||||||||||
Deposits in foreign offices | — | 236 | (236 | ) | — | — | 0.13 | |||||||||||||
Total deposits | 76,248 | 55,198 | 21,050 | 38 | 0.28 | 0.24 | ||||||||||||||
Short-term borrowings | 3,236 | 1,089 | 2,147 | 197 | 0.69 | 0.33 | ||||||||||||||
Long-term debt | 8,630 | 7,549 | 1,081 | 14 | 2.41 | 1.77 | ||||||||||||||
Total interest-bearing liabilities | 66,450 | 47,415 | 19,035 | 40 | 0.58 | 0.48 | ||||||||||||||
All other liabilities | 1,609 | 1,465 | 144 | 10 | ||||||||||||||||
Shareholders’ equity | 10,509 | 7,058 | 3,451 | 49 | ||||||||||||||||
Total liabilities and shareholders’ equity | $ | 100,232 | $ | 72,359 | $ | 27,873 | 39 | % | ||||||||||||
Net interest rate spread | 3.15 | 2.94 | ||||||||||||||||||
Impact of noninterest-bearing funds on margin | 0.16 | 0.14 | ||||||||||||||||||
Net interest margin | 3.31 | % | 3.08 | % |
(1) | FTE yields are calculated assuming a 35% tax rate. |
(2) | Loan, lease, and deposit average rates include the impact of applicable derivatives, non-deferrable fees, and amortized deferred fees. |
(3) | For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans. |
Table 6 - Noninterest Income | |||||||||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||||||||
Three Months Ended | 2Q17 vs. 2Q16 | 2Q17 vs. 1Q17 | |||||||||||||||||||||||
June 30, | March 31, | June 30, | Change | Change | |||||||||||||||||||||
2017 | 2017 | 2016 | Amount | Percent | Amount | Percent | |||||||||||||||||||
Service charges on deposit accounts | $ | 87,582 | $ | 83,420 | $ | 75,613 | $ | 11,969 | 16 | % | $ | 4,162 | 5 | % | |||||||||||
Cards and payment processing income | 52,485 | 47,169 | 39,184 | 13,301 | 34 | 5,316 | 11 | ||||||||||||||||||
Mortgage banking income | 32,268 | 31,692 | 31,591 | 677 | 2 | 576 | 2 | ||||||||||||||||||
Trust and investment management services | 32,232 | 33,869 | 22,497 | 9,735 | 43 | (1,637 | ) | (5 | ) | ||||||||||||||||
Insurance income | 15,843 | 15,264 | 15,947 | (104 | ) | (1 | ) | 579 | 4 | ||||||||||||||||
Brokerage income | 16,294 | 15,758 | 14,599 | 1,695 | 12 | 536 | 3 | ||||||||||||||||||
Capital markets fees | 16,836 | 14,200 | 13,037 | 3,799 | 29 | 2,636 | 19 | ||||||||||||||||||
Bank owned life insurance income | 15,322 | 17,542 | 12,536 | 2,786 | 22 | (2,220 | ) | (13 | ) | ||||||||||||||||
Gain on sale of loans | 12,002 | 12,822 | 9,265 | 2,737 | 30 | (820 | ) | (6 | ) | ||||||||||||||||
Securities gains (losses) | 135 | (8 | ) | 656 | (521 | ) | (79 | ) | 143 | (1,788 | ) | ||||||||||||||
Other Income | 44,219 | 40,735 | 36,187 | 8,032 | 22 | 3,484 | 9 | ||||||||||||||||||
Total noninterest income | $ | 325,218 | $ | 312,463 | $ | 271,112 | $ | 54,106 | 20 | % | $ | 12,755 | 4 | % |
Table 7 - Noninterest Income—2017 First Six Months vs. 2016 First Six Months | ||||||||||||||
(dollar amounts in thousands) | ||||||||||||||
Six Months Ended June 30, | Change | |||||||||||||
2017 | 2016 | Amount | Percent | |||||||||||
Service charges on deposit accounts | $ | 171,002 | $ | 145,875 | $ | 25,127 | 17 | % | ||||||
Cards and payment processing income | 99,654 | 75,631 | 24,023 | 32 | ||||||||||
Mortgage banking income | 63,960 | 50,134 | 13,826 | 28 | ||||||||||
Trust and investment management services | 66,101 | 45,335 | 20,766 | 46 | ||||||||||
Insurance income | 31,107 | 32,172 | (1,065 | ) | (3 | ) | ||||||||
Brokerage income | 32,052 | 30,101 | 1,951 | 6 | ||||||||||
Capital markets fees | 31,036 | 26,047 | 4,989 | 19 | ||||||||||
Bank owned life insurance income | 32,864 | 26,049 | 6,815 | 26 | ||||||||||
Gain on sale of loans | 24,824 | 14,660 | 10,164 | 69 | ||||||||||
Securities gains (losses) | 127 | 656 | (529 | ) | (81 | ) | ||||||||
Other Income | 84,954 | 66,319 | 18,635 | 28 | ||||||||||
Total noninterest income | $ | 637,681 | $ | 512,979 | $ | 124,702 | 24 | % |
Table 8 - Noninterest Expense | |||||||||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||||||||
Three Months Ended | 2Q17 vs. 2Q16 | 2Q17 vs. 1Q17 | |||||||||||||||||||||||
June 30, | March 31, | June 30, | Change | Change | |||||||||||||||||||||
2017 | 2017 | 2016 | Amount | Percent | Amount | Percent | |||||||||||||||||||
Personnel costs | $ | 391,997 | $ | 382,000 | $ | 298,949 | $ | 93,048 | 31 | % | $ | 9,997 | 3 | % | |||||||||||
Outside data processing and other services | 75,169 | 87,202 | 63,037 | 12,132 | 19 | (12,033 | ) | (14 | ) | ||||||||||||||||
Equipment | 42,924 | 46,700 | 31,805 | 11,119 | 35 | (3,776 | ) | (8 | ) | ||||||||||||||||
Net occupancy | 52,613 | 67,700 | 30,704 | 21,909 | 71 | (15,087 | ) | (22 | ) | ||||||||||||||||
Professional services | 18,190 | 18,295 | 21,488 | (3,298 | ) | (15 | ) | (105 | ) | (1 | ) | ||||||||||||||
Marketing | 18,843 | 13,923 | 14,773 | 4,070 | 28 | 4,920 | 35 | ||||||||||||||||||
Deposit and other insurance expense | 20,418 | 20,099 | 12,187 | 8,231 | 68 | 319 | 2 | ||||||||||||||||||
Amortization of intangibles | 14,242 | 14,355 | 3,600 | 10,642 | 296 | (113 | ) | (1 | ) | ||||||||||||||||
Other expense | 59,968 | 57,148 | 47,118 | 12,850 | 27 | 2,820 | 5 | ||||||||||||||||||
Total noninterest expense | $ | 694,364 | $ | 707,422 | $ | 523,661 | $ | 170,703 | 33 | % | $ | (13,058 | ) | (2 | )% | ||||||||||
Number of employees (average full-time equivalent) | 16,103 | 16,331 | 12,363 | 3,740 | 30 | % | (228 | ) | (1 | )% |
Three Months Ended | |||||||||||
June 30, | March 31, | June 30, | |||||||||
(dollar amounts in thousands) | 2017 | 2017 | 2016 | ||||||||
Personnel costs | $ | 17,934 | $ | 19,555 | $ | 4,732 | |||||
Outside data processing and other services | 6,246 | 14,475 | 3,045 | ||||||||
Equipment | 3,994 | 5,763 | 3 | ||||||||
Net occupancy | 14,415 | 23,342 | 490 | ||||||||
Professional services | 3,804 | 4,218 | 10,709 | ||||||||
Marketing | 112 | 816 | 241 | ||||||||
Other expense | 3,738 | 5,126 | 1,569 | ||||||||
Total noninterest expense adjustments | $ | 50,243 | $ | 73,295 | $ | 20,789 |
Three Months Ended | 2Q17 vs. 2Q16 | 2Q17 vs. 1Q17 | |||||||||||||||||||||||
June 30, | March 31, | June 30, | Change | Change | |||||||||||||||||||||
(dollar amounts in thousands) | 2017 | 2017 | 2016 | Amount | Percent | Amount | Percent | ||||||||||||||||||
Personnel costs | $ | 374,063 | $ | 362,445 | $ | 294,217 | $ | 79,846 | 27 | % | $ | 11,618 | 3 | % | |||||||||||
Outside data processing and other services | 68,923 | 72,727 | 59,992 | 8,931 | 15 | (3,804 | ) | (5 | ) | ||||||||||||||||
Equipment | 38,930 | 40,937 | 31,802 | 7,128 | 22 | (2,007 | ) | (5 | ) | ||||||||||||||||
Net occupancy | 38,198 | 44,358 | 30,214 | 7,984 | 26 | (6,160 | ) | (14 | ) | ||||||||||||||||
Professional services | 14,386 | 14,077 | 10,779 | 3,607 | 33 | 309 | 2 | ||||||||||||||||||
Marketing | 18,731 | 13,107 | 14,532 | 4,199 | 29 | 5,624 | 43 | ||||||||||||||||||
Deposit and other insurance expense | 20,418 | 20,099 | 12,187 | 8,231 | 68 | 319 | 2 | ||||||||||||||||||
Amortization of intangibles | 14,242 | 14,355 | 3,600 | 10,642 | 296 | (113 | ) | (1 | ) | ||||||||||||||||
Other expense | 56,230 | 52,022 | 45,549 | 10,681 | 23 | 4,208 | 8 | ||||||||||||||||||
Total adjusted noninterest expense (Non-GAAP) | $ | 644,121 | $ | 634,127 | $ | 502,872 | $ | 141,249 | 28 | % | $ | 9,994 | 2 | % |
Table 9 - Noninterest Expense—2017 First Six Months vs. 2016 First Six Months | ||||||||||||||
(dollar amounts in thousands) | ||||||||||||||
Six Months Ended June 30, | Change | |||||||||||||
2017 | 2016 | Amount | Percent | |||||||||||
Personnel costs | $ | 773,997 | $ | 584,346 | $ | 189,651 | 32 | % | ||||||
Outside data processing and other services | 162,371 | 124,915 | 37,456 | 30 | ||||||||||
Equipment | 89,624 | 64,381 | 25,243 | 39 | ||||||||||
Net occupancy | 120,313 | 62,180 | 58,133 | 93 | ||||||||||
Professional services | 36,485 | 35,026 | 1,459 | 4 | ||||||||||
Marketing | 32,766 | 27,041 | 5,725 | 21 | ||||||||||
Deposit and other insurance expense | 40,517 | 23,395 | 17,122 | 73 | ||||||||||
Amortization of intangibles | 28,597 | 7,312 | 21,285 | 291 | ||||||||||
Other expense | 117,116 | 86,145 | 30,971 | 36 | ||||||||||
Total noninterest expense | $ | 1,401,786 | $ | 1,014,741 | $ | 387,045 | 38 | % |
Six Months Ended June 30, | |||||||
2017 | 2016 | ||||||
Personnel costs | $ | 37,489 | $ | 5,206 | |||
Outside data processing and other services | 20,721 | 3,408 | |||||
Equipment | 9,757 | 3 | |||||
Net occupancy | 37,757 | 510 | |||||
Professional services | 8,022 | 14,997 | |||||
Marketing | 928 | 254 | |||||
Other expense | 8,864 | 2,817 | |||||
Total noninterest expense adjustments | $ | 123,538 | $ | 27,195 |
Six Months Ended June 30, | Change | |||||||||||||
2017 | 2016 | Amount | Percent | |||||||||||
Personnel costs | $ | 736,508 | $ | 579,140 | $ | 157,368 | 27 | % | ||||||
Outside data processing and other services | 141,650 | 121,507 | 20,143 | 17 | ||||||||||
Equipment | 79,867 | 64,378 | 15,489 | 24 | ||||||||||
Net occupancy | 82,556 | 61,670 | 20,886 | 34 | ||||||||||
Professional services | 28,463 | 20,029 | 8,434 | 42 | ||||||||||
Marketing | 31,838 | 26,787 | 5,051 | 19 | ||||||||||
Deposit and other insurance expense | 40,517 | 23,395 | 17,122 | 73 | ||||||||||
Amortization of intangibles | 28,597 | 7,312 | 21,285 | 291 | ||||||||||
Other expense | 108,252 | 83,328 | 24,924 | 30 | ||||||||||
Total adjusted noninterest expense (Non-GAAP) | $ | 1,278,248 | $ | 987,546 | $ | 290,702 | 29 | % |
Table 10 - Loan and Lease Portfolio Composition | ||||||||||||||||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||||||||||||||||
June 30, 2017 | March 31, 2017 | December 31, 2016 | September 30, 2016 | June 30, 2016 | ||||||||||||||||||||||||||||||
Ending Balances by Type: | ||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 27,969 | 41 | % | $ | 28,176 | 42 | % | $ | 28,059 | 42 | % | $ | 27,668 | 42 | % | $ | 21,372 | 41 | % | ||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||||||||||||
Construction | 1,145 | 2 | 1,107 | 2 | 1,446 | 2 | 1,414 | 2 | 856 | 2 | ||||||||||||||||||||||||
Commercial | 6,000 | 9 | 5,986 | 9 | 5,855 | 9 | 5,842 | 9 | 4,466 | 7 | ||||||||||||||||||||||||
Commercial real estate | 7,145 | 11 | 7,093 | 11 | 7,301 | 11 | 7,256 | 11 | 5,322 | 9 | ||||||||||||||||||||||||
Total commercial | 35,114 | 52 | 35,269 | 53 | 35,360 | 53 | 34,924 | 53 | 26,694 | 50 | ||||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||||||||||||
Automobile | 11,555 | 17 | 11,155 | 17 | 10,969 | 16 | 10,791 | 16 | 10,381 | 20 | ||||||||||||||||||||||||
Home equity | 9,966 | 15 | 9,974 | 15 | 10,106 | 15 | 10,120 | 15 | 8,447 | 17 | ||||||||||||||||||||||||
Residential mortgage | 8,237 | 12 | 7,829 | 12 | 7,725 | 12 | 7,665 | 12 | 6,377 | 12 | ||||||||||||||||||||||||
RV and marine finance | 2,178 | 3 | 1,935 | 2 | 1,846 | 3 | 1,840 | 3 | — | — | ||||||||||||||||||||||||
Other consumer | 1,009 | 1 | 936 | 1 | 956 | 1 | 964 | 1 | 644 | 1 | ||||||||||||||||||||||||
Total consumer | 32,945 | 48 | 31,829 | 47 | 31,602 | 47 | 31,380 | 47 | 25,849 | 50 | ||||||||||||||||||||||||
Total loans and leases | $ | 68,059 | 100 | % | $ | 67,098 | 100 | % | $ | 66,962 | 100 | % | $ | 66,304 | 100 | % | $ | 52,543 | 100 | % |
Table 11 - Loan and Lease Portfolio by Industry Type | ||||||||||||||||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||||||||||||||||
June 30, 2017 | March 31, 2017 | December 31, 2016 | September 30, 2016 | June 30, 2016 | ||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||||
Real estate and rental and leasing | $ | 7,588 | 12 | % | $ | 7,482 | 12 | % | $ | 7,545 | 11 | % | $ | 7,513 | 12 | % | $ | 5,345 | 10 | % | ||||||||||||||
Manufacturing | 4,916 | 7 | 5,048 | 8 | 4,937 | 7 | 4,931 | 7 | 3,392 | 6 | ||||||||||||||||||||||||
Retail trade (1) | 4,805 | 7 | 4,902 | 7 | 4,758 | 7 | 4,588 | 7 | 3,884 | 7 | ||||||||||||||||||||||||
Finance and insurance | 3,051 | 4 | 2,844 | 4 | 2,010 | 3 | 2,289 | 3 | 1,682 | 3 | ||||||||||||||||||||||||
Health care and social assistance | 2,699 | 4 | 2,727 | 4 | 2,729 | 4 | 2,638 | 4 | 1,776 | 3 | ||||||||||||||||||||||||
Wholesale trade | 2,058 | 3 | 2,181 | 3 | 2,071 | 3 | 2,009 | 3 | 1,311 | 2 | ||||||||||||||||||||||||
Professional, scientific, and technical services | 1,660 | 2 | 1,240 | 2 | 1,264 | 2 | 1,228 | 2 | 839 | 2 | ||||||||||||||||||||||||
Transportation and warehousing | 1,284 | 2 | 1,382 | 2 | 1,366 | 2 | 1,357 | 2 | 1,244 | 2 | ||||||||||||||||||||||||
Accommodation and food services | 1,261 | 2 | 1,652 | 2 | 1,678 | 3 | 1,612 | 2 | 1,157 | 2 | ||||||||||||||||||||||||
Construction | 1,232 | 2 | 924 | 1 | 875 | 1 | 889 | 1 | 674 | 1 | ||||||||||||||||||||||||
Other services | 928 | 1 | 1,278 | 2 | 1,223 | 2 | 1,205 | 2 | 978 | 2 | ||||||||||||||||||||||||
Utilities | 570 | 1 | 463 | 1 | 470 | 1 | 480 | 1 | 371 | 1 | ||||||||||||||||||||||||
Mining, quarrying, and oil and gas extraction | 501 | 1 | 511 | 1 | 668 | 1 | 704 | 1 | 691 | 1 | ||||||||||||||||||||||||
Educational services | 469 | 1 | 544 | 1 | 501 | 1 | 495 | 1 | 495 | 1 | ||||||||||||||||||||||||
Arts, entertainment, and recreation | 458 | 1 | 506 | 1 | 556 | 1 | 437 | 1 | 293 | 1 | ||||||||||||||||||||||||
Information | 444 | 1 | 454 | 1 | 473 | 1 | 475 | 1 | 325 | 1 | ||||||||||||||||||||||||
Admin., support, waste management and remediation services | 433 | 1 | 427 | 1 | 429 | 1 | 409 | 1 | 324 | 1 | ||||||||||||||||||||||||
Public administration | 274 | — | 266 | — | 272 | — | 273 | — | 282 | 1 | ||||||||||||||||||||||||
Agriculture, forestry, fishing and hunting | 203 | — | 170 | — | 151 | — | 161 | — | 132 | — | ||||||||||||||||||||||||
Management of companies and enterprises | 97 | — | 100 | — | 96 | — | 95 | — | 84 | — | ||||||||||||||||||||||||
Unclassified, other | 183 | — | 167 | — | 1,288 | 2 | 1,135 | 2 | 1,415 | 3 | ||||||||||||||||||||||||
Total commercial loans by industry category | 35,114 | 52 | 35,268 | 53 | 35,360 | 53 | 34,923 | 53 | 26,694 | 50 | ||||||||||||||||||||||||
Automobile loans and leases | 11,555 | 17 | 11,155 | 17 | 10,969 | 16 | 10,791 | 16 | 10,381 | 20 | ||||||||||||||||||||||||
Home Equity | 9,966 | 15 | 9,974 | 15 | 10,106 | 15 | 10,120 | 15 | 8,447 | 17 | ||||||||||||||||||||||||
Residential mortgage | 8,237 | 12 | 7,829 | 12 | 7,725 | 12 | 7,665 | 12 | 6,377 | 12 | ||||||||||||||||||||||||
RV and marine finance | 2,178 | 3 | 1,935 | 2 | 1,846 | 3 | 1,840 | 3 | — | — | ||||||||||||||||||||||||
Other consumer loans | 1,009 | 1 | 936 | 1 | 956 | 1 | 965 | 1 | 644 | 1 | ||||||||||||||||||||||||
Total loans and leases | $ | 68,059 | 100 | % | $ | 67,097 | 100 | % | $ | 66,962 | 100 | % | $ | 66,304 | 100 | % | $ | 52,543 | 100 | % |
(1) | Amounts include $3.2 billion, $3.3 billion, $3.2 billion, $3.0 billion and $2.7 billion of auto dealer floorplan loans at June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 2016, respectively. |
Table 12 - Nonaccrual Loans and Leases and Nonperforming Assets | |||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||
June 30, 2017 | March 31, 2017 | December 31, 2016 | September 30, 2016 | June 30, 2016 | |||||||||||||||
Nonaccrual loans and leases (NALs): | |||||||||||||||||||
Commercial and industrial | $ | 195,279 | $ | 232,171 | $ | 234,184 | $ | 220,862 | $ | 289,811 | |||||||||
Commercial real estate | 16,763 | 13,889 | 20,508 | 21,300 | 23,663 | ||||||||||||||
Automobile | 3,825 | 4,881 | 5,766 | 4,777 | 5,049 | ||||||||||||||
Home equity | 67,940 | 69,575 | 71,798 | 69,044 | 56,845 | ||||||||||||||
Residential mortgage | 80,306 | 80,686 | 90,502 | 88,155 | 85,174 | ||||||||||||||
RV and marine finance | 341 | 106 | 245 | 96 | — | ||||||||||||||
Other consumer | 2 | 2 | — | — | 5 | ||||||||||||||
Total nonaccrual loans and leases | 364,456 | 401,310 | 423,003 | 404,234 | 460,547 | ||||||||||||||
Other real estate: | |||||||||||||||||||
Residential | 26,890 | 31,786 | 30,932 | 34,421 | 26,653 | ||||||||||||||
Commercial | 16,926 | 18,101 | 19,998 | 36,915 | 2,248 | ||||||||||||||
Total other real estate | 43,816 | 49,887 | 50,930 | 71,336 | 28,901 | ||||||||||||||
Other NPAs (1) | 6,906 | 6,910 | 6,968 | — | 376 | ||||||||||||||
Total nonperforming assets | $ | 415,178 | $ | 458,107 | $ | 480,901 | $ | 475,570 | $ | 489,824 | |||||||||
Nonaccrual loans and leases as a % of total loans and leases | 0.54 | % | 0.60 | % | 0.63 | % | 0.61 | % | 0.88 | % | |||||||||
NPA ratio (2) | 0.61 | 0.68 | 0.72 | 0.72 | 0.93 | ||||||||||||||
(NPA+90days)/(Loan+OREO) | 0.81 | 0.87 | 0.91 | 0.92 | 1.12 |
(1) | Other nonperforming assets includes certain impaired investment securities. |
(2) | Nonperforming assets divided by the sum of loans and leases, other real estate owned, and other NPAs. |
Table 13 - Accruing and Nonaccruing Troubled Debt Restructured Loans | |||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||
June 30, 2017 | March 31, 2017 | December 31, 2016 | September 30, 2016 | June 30, 2016 | |||||||||||||||
Troubled debt restructured loans—accruing: | |||||||||||||||||||
Commercial and industrial | $ | 270,372 | $ | 222,303 | $ | 210,119 | $ | 232,740 | $ | 232,112 | |||||||||
Commercial real estate | 74,429 | 81,202 | 76,844 | 80,553 | 85,015 | ||||||||||||||
Automobile | 28,140 | 27,968 | 26,382 | 27,843 | 25,892 | ||||||||||||||
Home equity | 268,731 | 271,258 | 269,709 | 275,601 | 203,047 | ||||||||||||||
Residential mortgage | 238,087 | 239,175 | 242,901 | 251,529 | 256,859 | ||||||||||||||
RV and marine finance | 950 | 581 | — | — | — | ||||||||||||||
Other consumer | 4,017 | 4,128 | 3,780 | 4,102 | 4,522 | ||||||||||||||
Total troubled debt restructured loans—accruing | 884,726 | 846,615 | 829,735 | 872,368 | 807,447 | ||||||||||||||
Troubled debt restructured loans—nonaccruing: | |||||||||||||||||||
Commercial and industrial | 89,757 | 88,759 | 107,087 | 70,179 | 77,592 | ||||||||||||||
Commercial real estate | 3,823 | 4,357 | 4,507 | 5,672 | 6,833 | ||||||||||||||
Automobile | 4,291 | 4,763 | 4,579 | 4,437 | 4,907 | ||||||||||||||
Home equity | 28,667 | 29,090 | 28,128 | 28,009 | 21,145 | ||||||||||||||
Residential mortgage | 55,590 | 59,773 | 59,157 | 62,027 | 63,638 | ||||||||||||||
RV and marine finance | 381 | 106 | — | — | — | ||||||||||||||
Other consumer | 109 | 117 | 118 | 142 | 142 | ||||||||||||||
Total troubled debt restructured loans—nonaccruing | 182,618 | 186,965 | 203,576 | 170,466 | 174,257 | ||||||||||||||
Total troubled debt restructured loans | $ | 1,067,344 | $ | 1,033,580 | $ | 1,033,311 | $ | 1,042,834 | $ | 981,704 |
Table 14 - Allocation of Allowance for Credit Losses (1) | ||||||||||||||||||||||||||||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||||||||||||||
June 30, 2017 | March 31, 2017 | December 31, 2016 | September 30, 2016 | June 30, 2016 | ||||||||||||||||||||||||||||||
Allowance for Credit Losses | ||||||||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 367,956 | 41 | % | $ | 380,504 | 42 | % | $ | 355,424 | 42 | % | $ | 333,101 | 42 | % | $ | 323,465 | 41 | % | ||||||||||||||
Commercial real estate | 106,620 | 11 | 99,804 | 11 | 95,667 | 11 | 98,694 | 11 | 101,042 | 9 | ||||||||||||||||||||||||
Total commercial | 474,576 | 52 | 480,308 | 53 | 451,091 | 53 | 431,795 | 53 | 424,507 | 50 | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||
Automobile | 48,322 | 17 | 46,402 | 17 | 47,970 | 16 | 42,584 | 16 | 50,531 | 20 | ||||||||||||||||||||||||
Home equity | 62,941 | 15 | 64,900 | 15 | 65,474 | 15 | 69,866 | 15 | 76,482 | 17 | ||||||||||||||||||||||||
Residential mortgage | 33,304 | 12 | 35,559 | 12 | 33,398 | 12 | 36,510 | 12 | 42,392 | 12 | ||||||||||||||||||||||||
RV and marine finance | 7,665 | 3 | 4,022 | 2 | 5,311 | 3 | 4,289 | 3 | — | — | ||||||||||||||||||||||||
Other consumer | 41,188 | 1 | 41,389 | 1 | 35,169 | 1 | 31,854 | 1 | 29,152 | 1 | ||||||||||||||||||||||||
Total consumer | 193,420 | 48 | 192,272 | 47 | 187,322 | 47 | 185,103 | 47 | 198,557 | 50 | ||||||||||||||||||||||||
Total allowance for loan and lease losses | 667,996 | 100 | % | 672,580 | 100 | % | 638,413 | 100 | % | 616,898 | 100 | % | 623,064 | 100 | % | |||||||||||||||||||
Allowance for unfunded loan commitments | 85,359 | 91,838 | 97,879 | 88,433 | 73,748 | |||||||||||||||||||||||||||||
Total allowance for credit losses | $ | 753,355 | $ | 764,418 | $ | 736,292 | $ | 705,331 | $ | 696,812 | ||||||||||||||||||||||||
Total allowance for loan and leases losses as % of: | ||||||||||||||||||||||||||||||||||
Total loans and leases | 0.98 | % | 1.00 | % | 0.95 | % | 0.93 | % | 1.19 | % | ||||||||||||||||||||||||
Nonaccrual loans and leases | 183 | 168 | 151 | 153 | 135 | |||||||||||||||||||||||||||||
Nonperforming assets | 161 | 147 | 133 | 130 | 127 | |||||||||||||||||||||||||||||
Total allowance for credit losses as % of: | ||||||||||||||||||||||||||||||||||
Total loans and leases | 1.11 | % | 1.14 | % | 1.10 | % | 1.06 | % | 1.33 | % | ||||||||||||||||||||||||
Nonaccrual loans and leases | 207 | 190 | 174 | 174 | 151 | |||||||||||||||||||||||||||||
Nonperforming assets | 181 | 167 | 153 | 148 | 142 |
(1) | Percentages represent the percentage of each loan and lease category to total loans and leases. |
Table 15 - Quarterly Net Charge-off Analysis | |||||||||||
(dollar amounts in thousands) | |||||||||||
Three Months Ended | |||||||||||
June 30, | March 31, | June 30, | |||||||||
2017 | 2017 | 2016 | |||||||||
Net charge-offs (recoveries) by loan and lease type: | |||||||||||
Commercial: | |||||||||||
Commercial and industrial | $ | 12,870 | $ | 8,096 | $ | 3,702 | |||||
Commercial real estate: | |||||||||||
Construction | 83 | (3,137 | ) | (377 | ) | ||||||
Commercial | (3,638 | ) | 895 | (296 | ) | ||||||
Commercial real estate | (3,555 | ) | (2,242 | ) | (673 | ) | |||||
Total commercial | 9,315 | 5,854 | 3,029 | ||||||||
Consumer: | |||||||||||
Automobile | 8,318 | 12,407 | 4,320 | ||||||||
Home equity | 1,218 | 1,662 | 1,078 | ||||||||
Residential mortgage | 1,052 | 2,595 | 776 | ||||||||
RV and marine finance | 1,875 | 2,363 | — | ||||||||
Other consumer | 14,262 | 14,557 | 7,552 | ||||||||
Total consumer | 26,725 | 33,584 | 13,726 | ||||||||
Total net charge-offs | $ | 36,040 | $ | 39,438 | $ | 16,755 | |||||
Three Months Ended | |||||||||||
June 30, | March 31, | June 30, | |||||||||
2017 | 2017 | 2016 | |||||||||
Net charge-offs (recoveries)—annualized percentages: | |||||||||||
Commercial: | |||||||||||
Commercial and industrial | 0.18 | % | 0.12 | % | 0.07 | % | |||||
Commercial real estate: | |||||||||||
Construction | 0.03 | (0.96 | ) | (0.17 | ) | ||||||
Commercial | (0.24 | ) | 0.06 | (0.03 | ) | ||||||
Commercial real estate | (0.20 | ) | (0.12 | ) | (0.05 | ) | |||||
Total commercial | 0.11 | 0.07 | 0.05 | ||||||||
Consumer: | |||||||||||
Automobile | 0.29 | 0.45 | 0.17 | ||||||||
Home equity | 0.05 | 0.07 | 0.05 | ||||||||
Residential mortgage | 0.05 | 0.13 | 0.05 | ||||||||
RV and marine finance | 0.37 | 0.50 | — | ||||||||
Other consumer | 5.81 | 6.33 | 4.93 | ||||||||
Total consumer | 0.33 | 0.42 | 0.22 | ||||||||
Net charge-offs as a % of average loans | 0.21 | % | 0.24 | % | 0.13 | % |
Table 16 - Year to Date Net Charge-off Analysis | |||||||
(dollar amounts in thousands) | |||||||
Six Months Ended June 30, | |||||||
2017 | 2016 | ||||||
Net charge-offs by loan and lease type: | |||||||
Commercial: | |||||||
Commercial and industrial | $ | 20,966 | $ | 10,216 | |||
Commercial real estate: | |||||||
Construction | (3,054 | ) | (481 | ) | |||
Commercial | (2,743 | ) | (17,668 | ) | |||
Commercial real estate | (5,797 | ) | (18,149 | ) | |||
Total commercial | 15,169 | (7,933 | ) | ||||
Consumer: | |||||||
Automobile | 20,725 | 11,090 | |||||
Home equity | 2,880 | 4,759 | |||||
Residential mortgage | 3,647 | 2,423 | |||||
RV and marine finance | 4,238 | — | |||||
Other consumer | 28,819 | 14,968 | |||||
Total consumer | 60,309 | 33,240 | |||||
Total net charge-offs | $ | 75,478 | $ | 25,307 | |||
Six Months Ended June 30, | |||||||
2017 | 2016 | ||||||
Net charge-offs - annualized percentages: | |||||||
Commercial: | |||||||
Commercial and industrial | 0.15 | % | 0.10 | % | |||
Commercial real estate: | |||||||
Construction | (0.50 | ) | (0.11 | ) | |||
Commercial | (0.09 | ) | (0.82 | ) | |||
Commercial real estate | (0.16 | ) | (0.70 | ) | |||
Total commercial | 0.09 | (0.06 | ) | ||||
Consumer: | |||||||
Automobile | 0.37 | 0.22 | |||||
Home equity | 0.06 | 0.11 | |||||
Residential mortgage | 0.09 | 0.08 | |||||
RV and marine finance | 0.43 | — | |||||
Other consumer | 5.93 | 5.04 | |||||
Total consumer | 0.38 | 0.27 | |||||
Net charge-offs as a % of average loans | 0.22 | % | 0.10 | % |
Table 17 - Net Interest Income at Risk | ||||||||
Net Interest Income at Risk (%) | ||||||||
Basis point change scenario | -25 | +100 | +200 | |||||
Board policy limits | N/A | -2.0 | % | -4.0 | % | |||
June 30, 2017 | -0.6 | % | 2.8 | % | 5.5 | % | ||
December 31, 2016 | -1.0 | % | 2.7 | % | 5.6 | % |
Table 18 - Economic Value of Equity at Risk | ||||||||
Economic Value of Equity at Risk (%) | ||||||||
Basis point change scenario | -25 | +100 | +200 | |||||
Board policy limits | N/A | -5.0 | % | -12.0 | % | |||
June 30, 2017 | -1.2 | % | 3.2 | % | 4.7 | % | ||
December 31, 2016 | -0.6 | % | 0.9 | % | 0.2 | % |
Table 19 - Deposit Composition | ||||||||||||||||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||||||||||||||||
2017 | 2017 | 2016 | 2016 | 2016 | ||||||||||||||||||||||||||||||
By Type: | ||||||||||||||||||||||||||||||||||
Demand deposits—noninterest-bearing | $ | 21,420 | 28 | % | $ | 21,489 | 28 | % | $ | 22,836 | 30 | % | $ | 23,426 | 30 | % | $ | 16,324 | 30 | % | ||||||||||||||
Demand deposits—interest-bearing | 17,113 | 23 | 18,618 | 24 | 15,676 | 21 | 15,730 | 20 | 8,412 | 15 | ||||||||||||||||||||||||
Money market deposits | 19,423 | 26 | 18,664 | 24 | 18,407 | 24 | 18,604 | 24 | 19,480 | 34 | ||||||||||||||||||||||||
Savings and other domestic deposits | 11,758 | 15 | 12,043 | 16 | 11,975 | 16 | 12,418 | 16 | 5,341 | 10 | ||||||||||||||||||||||||
Core certificates of deposit | 2,088 | 3 | 2,188 | 3 | 2,535 | 3 | 2,724 | 4 | 1,866 | 4 | ||||||||||||||||||||||||
Total core deposits: | 71,802 | 95 | 73,002 | 95 | 71,429 | 94 | 72,902 | 94 | 51,423 | 93 | ||||||||||||||||||||||||
Other domestic deposits of $250,000 or more | 441 | 1 | 524 | 1 | 394 | 1 | 391 | 1 | 380 | 1 | ||||||||||||||||||||||||
Brokered deposits and negotiable CDs | 3,690 | 4 | 3,897 | 4 | 3,785 | 5 | 3,972 | 5 | 3,017 | 6 | ||||||||||||||||||||||||
Deposits in foreign offices | — | — | — | — | — | — | 140 | — | 223 | — | ||||||||||||||||||||||||
Total deposits | $ | 75,933 | 100 | % | $ | 77,423 | 100 | % | $ | 75,608 | 100 | % | $ | 77,405 | 100 | % | $ | 55,043 | 100 | % | ||||||||||||||
Total core deposits: | ||||||||||||||||||||||||||||||||||
Commercial | $ | 32,201 | 45 | % | $ | 32,963 | 45 | % | $ | 31,887 | 45 | % | $ | 32,936 | 45 | % | $ | 24,308 | 47 | % | ||||||||||||||
Consumer | 39,601 | 55 | 40,039 | 55 | 39,542 | 55 | 39,966 | 55 | 27,115 | 53 | ||||||||||||||||||||||||
Total core deposits | $ | 71,802 | 100 | % | $ | 73,002 | 100 | % | $ | 71,429 | 100 | % | $ | 72,902 | 100 | % | $ | 51,423 | 100 | % |
Table 20 - Regulatory Capital Data | ||||||||||||||
(dollar amounts in millions) | ||||||||||||||
Basel III | ||||||||||||||
June 30, 2017 | March 31, 2017 | December 31, 2016 | ||||||||||||
Total risk-weighted assets | Consolidated | $ | 78,366 | $ | 77,559 | $ | 78,263 | |||||||
Bank | 78,489 | 77,534 | 78,242 | |||||||||||
Common equity tier I risk-based capital | Consolidated | 7,740 | 7,551 | 7,486 | ||||||||||
Bank | 8,367 | 8,146 | 8,153 | |||||||||||
Tier 1 risk-based capital | Consolidated | 8,809 | 8,619 | 8,547 | ||||||||||
Bank | 9,238 | 9,015 | 9,086 | |||||||||||
Tier 2 risk-based capital | Consolidated | 1,640 | 1,663 | 1,668 | ||||||||||
Bank | 1,706 | 1,745 | 1,732 | |||||||||||
Total risk-based capital | Consolidated | 10,449 | 10,282 | 10,215 | ||||||||||
Bank | 10,944 | 10,760 | 10,818 | |||||||||||
Tier 1 leverage ratio | Consolidated | 8.98 | % | 8.76 | % | 8.70 | % | |||||||
Bank | 9.43 | 9.18 | 9.29 | |||||||||||
Common equity tier I risk-based capital ratio | Consolidated | 9.88 | 9.74 | 9.56 | ||||||||||
Bank | 10.66 | 10.51 | 10.42 | |||||||||||
Tier 1 risk-based capital ratio | Consolidated | 11.24 | 11.11 | 10.92 | ||||||||||
Bank | 11.77 | 11.63 | 11.61 | |||||||||||
Total risk-based capital ratio | Consolidated | 13.33 | 13.26 | 13.05 | ||||||||||
Bank | 13.94 | 13.88 | 13.83 |
Table 21 - Net Income (Loss) by Business Segment | |||||||
(dollar amounts in thousands) | |||||||
Six Months Ended June 30, | |||||||
2017 | 2016 | ||||||
Consumer and Business Banking | $ | 201,290 | $ | 129,151 | |||
Commercial Banking | 160,991 | 77,513 | |||||
CREVF | 106,919 | 87,848 | |||||
RBHPCG | 42,678 | 27,240 | |||||
Treasury / Other | (32,043 | ) | 24,102 | ||||
Net income | $ | 479,835 | $ | 345,854 |
Consumer and Business Banking | ||||||||||||||
Table 22 - Key Performance Indicators for Consumer and Business Banking | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six Months Ended June 30, | Change | |||||||||||||
2017 | 2016 | Amount | Percent | |||||||||||
Net interest income | $ | 828,936 | $ | 562,423 | $ | 266,513 | 47 | % | ||||||
Provision for credit losses | 50,181 | 30,750 | 19,431 | 63 | ||||||||||
Noninterest income | 354,970 | 284,002 | 70,968 | 25 | ||||||||||
Noninterest expense | 824,048 | 616,981 | 207,067 | 34 | ||||||||||
Provision for income taxes | 108,387 | 69,543 | 38,844 | 56 | ||||||||||
Net income | $ | 201,290 | $ | 129,151 | $ | 72,139 | 56 | % | ||||||
Number of employees (average full-time equivalent) | 8,737 | 6,543 | 2,194 | 34 | % | |||||||||
Total average assets (in millions) | $ | 25,283 | $ | 18,951 | $ | 6,332 | 33 | |||||||
Total average loans/leases (in millions) | 20,479 | 16,227 | 4,252 | 26 | ||||||||||
Total average deposits (in millions) | 45,461 | 31,428 | 14,033 | 45 | ||||||||||
Net interest margin | 3.78 | % | 3.68 | % | 0.10 | % | 3 | |||||||
NCOs | $ | 48,576 | $ | 28,948 | $ | 19,628 | 68 | |||||||
NCOs as a % of average loans and leases | 0.47 | % | 0.35 | % | 0.12 | % | 34 |
Commercial Banking | ||||||||||||||
Table 23 - Key Performance Indicators for Commercial Banking | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six Months Ended June 30, | Change | |||||||||||||
2017 | 2016 | Amount | Percent | |||||||||||
Net interest income | $ | 343,285 | $ | 212,240 | $ | 131,045 | 62 | % | ||||||
Provision for credit losses | 11,798 | 29,423 | (17,625 | ) | (60 | ) | ||||||||
Noninterest income | 117,573 | 95,484 | 22,089 | 23 | ||||||||||
Noninterest expense | 201,382 | 159,050 | 42,332 | 27 | ||||||||||
Provision for income taxes | 86,687 | 41,738 | 44,949 | 108 | ||||||||||
Net income | $ | 160,991 | $ | 77,513 | $ | 83,478 | 108 | % | ||||||
Number of employees (average full-time equivalent) | 1,087 | 833 | 254 | 30 | % | |||||||||
Total average assets (in millions) | $ | 24,000 | $ | 17,553 | $ | 6,447 | 37 | |||||||
Total average loans/leases (in millions) | 19,075 | 13,804 | 5,271 | 38 | ||||||||||
Total average deposits (in millions) | 18,725 | 14,072 | 4,653 | 33 | ||||||||||
Net interest margin | 3.35 | % | 2.88 | % | 0.47 | % | 16 | |||||||
NCOs | $ | 6,416 | $ | 16,261 | $ | (9,845 | ) | (61 | ) | |||||
NCOs as a % of average loans and leases | 0.07 | % | 0.23 | % | (0.16 | )% | (70 | ) |
Commercial Real Estate and Vehicle Finance | ||||||||||||||
Table 24 - Commercial Real Estate and Vehicle Finance | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six Months Ended June 30, | Change | |||||||||||||
2017 | 2016 | Amount | Percent | |||||||||||
Net interest income | $ | 279,700 | $ | 191,214 | $ | 88,486 | 46 | % | ||||||
Provision (reduction in allowance) for credit losses | 30,342 | (6,909 | ) | 37,251 | N.R. | |||||||||
Noninterest income | 23,768 | 17,950 | 5,818 | 32 | ||||||||||
Noninterest expense | 108,635 | 80,922 | 27,713 | 34 | ||||||||||
Provision for income taxes | 57,572 | 47,303 | 10,269 | 22 | ||||||||||
Net income | $ | 106,919 | $ | 87,848 | $ | 19,071 | 22 | % | ||||||
Number of employees (average full-time equivalent) | 402 | 310 | 92 | 30 | % | |||||||||
Total average assets (in millions) | $ | 23,903 | $ | 18,329 | $ | 5,574 | 30 | |||||||
Total average loans/leases (in millions) | 22,811 | 17,288 | 5,523 | 32 | ||||||||||
Total average deposits (in millions) | 1,825 | 1,649 | 176 | 11 | ||||||||||
Net interest margin | 2.45 | % | 2.18 | % | 0.27 | % | 12 | |||||||
NCOs | $ | 19,500 | $ | (16,888 | ) | $ | 36,388 | N.R. | ||||||
NCOs as a % of average loans and leases | 0.17 | % | (0.19 | )% | 0.36 | % | N.R. |
Regional Banking and The Huntington Private Client Group | ||||||||||||||
Table 25 - Key Performance Indicators for Regional Banking and The Huntington Private Client Group | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six Months Ended June 30, | Change | |||||||||||||
2017 | 2016 | Amount | Percent | |||||||||||
Net interest income | $ | 95,492 | $ | 70,503 | $ | 24,989 | 35 | % | ||||||
Provision (reduction in allowance) for credit losses | 295 | (1,173 | ) | 1,468 | N.R. | |||||||||
Noninterest income | 94,395 | 79,403 | 14,992 | 19 | ||||||||||
Noninterest expense | 123,934 | 109,172 | 14,762 | 14 | ||||||||||
Provision for income taxes | 22,980 | 14,667 | 8,313 | 57 | ||||||||||
Net income | $ | 42,678 | $ | 27,240 | $ | 15,438 | 57 | % | ||||||
Number of employees (average full-time equivalent) | 1,034 | 930 | 104 | 11 | % | |||||||||
Total average assets (in millions) | $ | 5,401 | $ | 4,265 | $ | 1,136 | 27 | |||||||
Total average loans/leases (in millions) | 4,699 | 3,861 | 838 | 22 | ||||||||||
Total average deposits (in millions) | 5,927 | 4,819 | 1,108 | 23 | ||||||||||
Net interest margin | 3.33 | % | 2.95 | % | 0.38 | % | 13 | |||||||
NCOs | $ | 987 | $ | (3,013 | ) | $ | 4,000 | N.R. | ||||||
NCOs as a % of average loans and leases | 0.04 | % | (0.16 | )% | 0.20 | % | N.R. | |||||||
Total assets under management (in billions)—eop (1) | $ | 17.6 | $ | 16.8 | $ | 0.8 | 5 | |||||||
Total trust assets (in billions)—eop (1) | 101.6 | 93.3 | 8.3 | 9 |
(1) | Includes assets associated with FirstMerit. |
• | Tangible common equity to tangible assets, and |
• | Tangible common equity to risk-weighted assets using Basel III definitions. |
(dollar amounts in thousands, except number of shares) | June 30, | December 31, | |||||
2017 | 2016 | ||||||
Assets | |||||||
Cash and due from banks | $ | 1,515,476 | $ | 1,384,770 | |||
Interest-bearing deposits in banks | 77,148 | 58,267 | |||||
Trading account securities | 94,767 | 133,295 | |||||
Loans held for sale (includes $654,087 and $438,224 respectively, measured at fair value)(1) | 748,077 | 512,951 | |||||
Available-for-sale and other securities | 15,388,306 | 15,562,837 | |||||
Held-to-maturity securities | 8,279,577 | 7,806,939 | |||||
Loans and leases (includes $103,741 and $82,319 respectively, measured at fair value)(1) | 68,059,310 | 66,961,996 | |||||
Allowance for loan and lease losses | (667,996 | ) | (638,413 | ) | |||
Net loans and leases | 67,391,314 | 66,323,583 | |||||
Bank owned life insurance | 2,448,913 | 2,432,086 | |||||
Premises and equipment | 855,347 | 815,508 | |||||
Goodwill | 1,992,849 | 1,992,849 | |||||
Other intangible assets | 373,861 | 402,458 | |||||
Servicing rights | 224,656 | 225,578 | |||||
Accrued income and other assets | 2,016,488 | 2,062,976 | |||||
Total assets | $ | 101,406,779 | $ | 99,714,097 | |||
Liabilities and shareholders’ equity | |||||||
Liabilities | |||||||
Deposits | $ | 75,933,373 | $ | 75,607,717 | |||
Short-term borrowings | 4,552,877 | 3,692,654 | |||||
Long-term debt | 8,536,471 | 8,309,159 | |||||
Accrued expenses and other liabilities | 1,729,876 | 1,796,421 | |||||
Total liabilities | 90,752,597 | 89,405,951 | |||||
Commitments and contingencies (Note 14) | |||||||
Shareholders’ equity | |||||||
Preferred stock | 1,071,286 | 1,071,227 | |||||
Common stock | 10,932 | 10,886 | |||||
Capital surplus | 9,920,052 | 9,881,277 | |||||
Less treasury shares, at cost | (31,288 | ) | (27,384 | ) | |||
Accumulated other comprehensive loss | (350,357 | ) | (401,016 | ) | |||
Retained (deficit) earnings | 33,557 | (226,844 | ) | ||||
Total shareholders’ equity | 10,654,182 | 10,308,146 | |||||
Total liabilities and shareholders’ equity | $ | 101,406,779 | $ | 99,714,097 | |||
Common shares authorized (par value of $0.01) | 1,500,000,000 | 1,500,000,000 | |||||
Common shares issued | 1,093,162,464 | 1,088,641,251 | |||||
Common shares outstanding | 1,090,016,469 | 1,085,688,538 | |||||
Treasury shares outstanding | 3,145,995 | 2,952,713 | |||||
Preferred stock, authorized shares | 6,617,808 | 6,617,808 | |||||
Preferred shares issued | 2,702,571 | 2,702,571 | |||||
Preferred shares outstanding | 1,098,006 | 1,098,006 |
(1) | Amounts represent loans for which Huntington has elected the fair value option. See Note 11. |
Huntington Bancshares Incorporated | |||||||||||||||
Condensed Consolidated Statements of Income | |||||||||||||||
(Unaudited) | |||||||||||||||
(dollar amounts in thousands, except per share amounts) | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
Interest and fee income: | |||||||||||||||
Loans and leases | $ | 699,838 | $ | 469,770 | $ | 1,375,772 | $ | 933,192 | |||||||
Available-for-sale and other securities | |||||||||||||||
Taxable | 78,292 | 40,992 | 154,577 | 80,606 | |||||||||||
Tax-exempt | 18,695 | 13,795 | 37,382 | 26,814 | |||||||||||
Held-to-maturity securities—taxable | 44,276 | 35,420 | 89,471 | 72,209 | |||||||||||
Other | 5,323 | 5,681 | 9,582 | 10,088 | |||||||||||
Total interest income | 846,424 | 565,658 | 1,666,784 | 1,122,909 | |||||||||||
Interest expense: | |||||||||||||||
Deposits | 42,287 | 22,324 | 77,077 | 45,342 | |||||||||||
Short-term borrowings | 5,203 | 913 | 11,069 | 1,811 | |||||||||||
Federal Home Loan Bank advances | 66 | 72 | 132 | 141 | |||||||||||
Subordinated notes and other long-term debt | 54,356 | 36,468 | 104,019 | 66,668 | |||||||||||
Total interest expense | 101,912 | 59,777 | 192,297 | 113,962 | |||||||||||
Net interest income | 744,512 | 505,881 | 1,474,487 | 1,008,947 | |||||||||||
Provision for credit losses | 24,978 | 24,509 | 92,616 | 52,091 | |||||||||||
Net interest income after provision for credit losses | 719,534 | 481,372 | 1,381,871 | 956,856 | |||||||||||
Service charges on deposit accounts | 87,582 | 75,613 | 171,002 | 145,875 | |||||||||||
Cards and payment processing income | 52,485 | 39,184 | 99,654 | 75,631 | |||||||||||
Mortgage banking income | 32,268 | 31,591 | 63,960 | 50,134 | |||||||||||
Trust and investment management services | 32,232 | 22,497 | 66,101 | 45,335 | |||||||||||
Insurance income | 15,843 | 15,947 | 31,107 | 32,172 | |||||||||||
Brokerage income | 16,294 | 14,599 | 32,052 | 30,101 | |||||||||||
Capital markets fees | 16,836 | 13,037 | 31,036 | 26,047 | |||||||||||
Bank owned life insurance income | 15,322 | 12,536 | 32,864 | 26,049 | |||||||||||
Gain on sale of loans | 12,002 | 9,265 | 24,824 | 14,660 | |||||||||||
Net gains on sales of securities | 3,694 | 732 | 3,710 | 732 | |||||||||||
Impairment losses recognized in earnings on available-for-sale securities | (3,559 | ) | (76 | ) | (3,583 | ) | (76 | ) | |||||||
Other noninterest income | 44,219 | 36,187 | 84,954 | 66,319 | |||||||||||
Total noninterest income | 325,218 | 271,112 | 637,681 | 512,979 | |||||||||||
Personnel costs | 391,997 | 298,949 | 773,997 | 584,346 | |||||||||||
Outside data processing and other services | 75,169 | 63,037 | 162,371 | 124,915 | |||||||||||
Equipment | 42,924 | 31,805 | 89,624 | 64,381 | |||||||||||
Net occupancy | 52,613 | 30,704 | 120,313 | 62,180 | |||||||||||
Professional services | 18,190 | 21,488 | 36,485 | 35,026 | |||||||||||
Marketing | 18,843 | 14,773 | 32,766 | 27,041 | |||||||||||
Deposit and other insurance expense | 20,418 | 12,187 | 40,517 | 23,395 | |||||||||||
Amortization of intangibles | 14,242 | 3,600 | 28,597 | 7,312 | |||||||||||
Other noninterest expense | 59,968 | 47,118 | 117,116 | 86,145 | |||||||||||
Total noninterest expense | 694,364 | 523,661 | 1,401,786 | 1,014,741 | |||||||||||
Income before income taxes | 350,388 | 228,823 | 617,766 | 455,094 | |||||||||||
Provision for income taxes | 78,647 | 54,283 | 137,931 | 109,240 | |||||||||||
Net income | 271,741 | 174,540 | 479,835 | 345,854 | |||||||||||
Dividends on preferred shares | 18,889 | 19,874 | 37,767 | 27,872 | |||||||||||
Net income applicable to common shares | $ | 252,852 | $ | 154,666 | $ | 442,068 | $ | 317,982 | |||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands, except per share amounts) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Average common shares—basic | 1,088,934 | 798,167 | 1,087,654 | 796,961 | |||||||||||
Average common shares—diluted | 1,108,527 | 810,371 | 1,108,572 | 809,360 | |||||||||||
Per common share: | |||||||||||||||
Net income—basic | $ | 0.23 | $ | 0.19 | $ | 0.41 | $ | 0.40 | |||||||
Net income—diluted | 0.23 | 0.19 | 0.40 | 0.39 | |||||||||||
Cash dividends declared | 0.08 | 0.07 | 0.16 | 0.14 | |||||||||||
OTTI losses for the periods presented: | |||||||||||||||
Total OTTI losses | $ | (3,563 | ) | $ | (76 | ) | $ | (3,589 | ) | $ | (3,809 | ) | |||
Noncredit-related portion of loss recognized in OCI | 4 | — | 6 | 3,733 | |||||||||||
Impairment losses recognized in earnings on available-for-sale securities | $ | (3,559 | ) | $ | (76 | ) | $ | (3,583 | ) | $ | (76 | ) | |||
See Notes to Unaudited Condensed Consolidated Financial Statements |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Net income | $ | 271,741 | $ | 174,540 | $ | 479,835 | $ | 345,854 | |||||||
Other comprehensive income, net of tax: | |||||||||||||||
Unrealized gains (losses) on available-for-sale and other securities: | |||||||||||||||
Non-credit-related impairment recoveries (losses) on debt securities not expected to be sold | 1,602 | 667 | 2,126 | (1,682 | ) | ||||||||||
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains and losses | 37,052 | 30,603 | 47,050 | 82,154 | |||||||||||
Total unrealized gains (losses) on available-for-sale and other securities | 38,654 | 31,270 | 49,176 | 80,472 | |||||||||||
Unrealized gains (losses) on cash flow hedging derivatives, net of reclassifications to income | 1,070 | 1,134 | 244 | 9,963 | |||||||||||
Change in accumulated unrealized losses for pension and other post-retirement obligations | 779 | 840 | 1,239 | 1,681 | |||||||||||
Other comprehensive income (loss), net of tax | 40,503 | 33,244 | 50,659 | 92,116 | |||||||||||
Comprehensive income | $ | 312,244 | $ | 207,784 | $ | 530,494 | $ | 437,970 |
Accumulated Other Comprehensive Gain (Loss) | Retained Earnings (Deficit) | ||||||||||||||||||||||||||||||||
(dollar amounts in thousands, except per share amounts) | Preferred Stock | Common Stock | Capital Surplus | Treasury Stock | |||||||||||||||||||||||||||||
Amount | Shares | Amount | Shares | Amount | Total | ||||||||||||||||||||||||||||
Six Months Ended June 30, 2016 | |||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 386,291 | 796,970 | $ | 7,970 | $ | 7,038,502 | (2,041 | ) | $ | (17,932 | ) | $ | (226,158 | ) | $ | (594,067 | ) | $ | 6,594,606 | |||||||||||||
Net income | 345,854 | 345,854 | |||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 92,116 | 92,116 | |||||||||||||||||||||||||||||||
Net proceeds from issuance of Series D preferred stock | 584,987 | 584,987 | |||||||||||||||||||||||||||||||
Cash dividends declared: | |||||||||||||||||||||||||||||||||
Common ($0.14 per share) | (111,735 | ) | (111,735 | ) | |||||||||||||||||||||||||||||
Preferred Series A ($42.50 per share) | (15,407 | ) | (15,407 | ) | |||||||||||||||||||||||||||||
Preferred Series B ($16.63 per share) | (590 | ) | (590 | ) | |||||||||||||||||||||||||||||
Preferred Series D ($19.79 per share) | (11,875 | ) | (11,875 | ) | |||||||||||||||||||||||||||||
Recognition of the fair value of share-based compensation | 27,799 | 27,799 | |||||||||||||||||||||||||||||||
Other share-based compensation activity | 4,559 | 45 | 7,872 | (3,004 | ) | 4,913 | |||||||||||||||||||||||||||
Other | — | — | 76 | (334 | ) | (3,426 | ) | (14 | ) | (3,364 | ) | ||||||||||||||||||||||
Balance, end of period | $ | 971,278 | 801,529 | $ | 8,015 | $ | 7,074,249 | (2,375 | ) | $ | (21,358 | ) | $ | (134,042 | ) | $ | (390,838 | ) | $ | 7,507,304 | |||||||||||||
Six Months Ended June 30, 2017 | |||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 1,071,227 | 1,088,641 | $ | 10,886 | $ | 9,881,277 | (2,953 | ) | $ | (27,384 | ) | $ | (401,016 | ) | $ | (226,844 | ) | $ | 10,308,146 | |||||||||||||
Net income | 479,835 | 479,835 | |||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 50,659 | 50,659 | |||||||||||||||||||||||||||||||
Cash dividends declared: | |||||||||||||||||||||||||||||||||
Common ($0.16 per share) | (174,369 | ) | (174,369 | ) | |||||||||||||||||||||||||||||
Preferred Series A ($42.50 per share) | (15,406 | ) | (15,406 | ) | |||||||||||||||||||||||||||||
Preferred Series B ($18.95 per share) | (673 | ) | (673 | ) | |||||||||||||||||||||||||||||
Preferred Series C ($29.38 per share) | (2,938 | ) | (2,938 | ) | |||||||||||||||||||||||||||||
Preferred Series D ($31.25 per share) | (18,750 | ) | (18,750 | ) | |||||||||||||||||||||||||||||
Recognition of the fair value of share-based compensation | 52,045 | 52,045 | |||||||||||||||||||||||||||||||
Other share-based compensation activity | 4,514 | 45 | (14,612 | ) | (7,057 | ) | (21,624 | ) | |||||||||||||||||||||||||
Other | 59 | 7 | 1 | 1,342 | (193 | ) | (3,904 | ) | (241 | ) | (2,743 | ) | |||||||||||||||||||||
Balance, end of period | $ | 1,071,286 | 1,093,162 | $ | 10,932 | $ | 9,920,052 | (3,146 | ) | $ | (31,288 | ) | $ | (350,357 | ) | $ | 33,557 | $ | 10,654,182 |
Six Months Ended June 30, | |||||||
(dollar amounts in thousands) | 2017 | 2016 | |||||
Operating activities | |||||||
Net income | $ | 479,835 | $ | 345,854 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Provision for credit losses | 92,616 | 52,091 | |||||
Depreciation and amortization | 210,825 | 208,249 | |||||
Share-based compensation expense | 52,045 | 27,799 | |||||
Net change in: | |||||||
Trading account securities | 38,528 | 1,708 | |||||
Loans held for sale | (220,674 | ) | (307,880 | ) | |||
Accrued income and other assets | (57,635 | ) | (97,334 | ) | |||
Deferred income taxes | 11,725 | (6,864 | ) | ||||
Accrued expense and other liabilities | (60,182 | ) | 70,554 | ||||
Other, net | 11,661 | (7,539 | ) | ||||
Net cash provided by (used for) operating activities | 558,744 | 286,638 | |||||
Investing activities | |||||||
Change in interest bearing deposits in banks | 19,474 | 6,942 | |||||
Proceeds from: | |||||||
Maturities and calls of available-for-sale and other securities | 715,893 | 467,633 | |||||
Maturities of held-to-maturity securities | 523,309 | 495,645 | |||||
Sales of available-for-sale and other securities | 411,763 | 170,986 | |||||
Purchases of available-for-sale and other securities | (1,891,781 | ) | (1,405,035 | ) | |||
Purchases of held-to-maturity securities | (8,616 | ) | — | ||||
Net proceeds from sales of portfolio loans | 259,165 | 234,608 | |||||
Net loan and lease activity, excluding sales and purchases | (1,429,367 | ) | (2,220,929 | ) | |||
Purchases of premises and equipment | (112,566 | ) | (19,846 | ) | |||
Proceeds from sales of other real estate | 17,802 | 13,290 | |||||
Purchases of loans and leases | (93,560 | ) | (341,985 | ) | |||
Other, net | 8,343 | 2,698 | |||||
Net cash provided by (used for) investing activities | (1,580,141 | ) | (2,595,993 | ) | |||
Financing activities | |||||||
Increase (decrease) in deposits | 325,656 | (256,333 | ) | ||||
Increase (decrease) in short-term borrowings | 838,389 | 1,335,888 | |||||
Net proceeds from issuance of long-term debt | 1,060,697 | 1,051,794 | |||||
Maturity/redemption of long-term debt | (843,019 | ) | (255,750 | ) | |||
Dividends paid on preferred stock | (37,743 | ) | (27,872 | ) | |||
Dividends paid on common stock | (174,168 | ) | (112,087 | ) | |||
Proceeds from stock options exercised | 6,884 | 3,887 | |||||
Net proceeds from issuance of preferred stock | — | 584,987 | |||||
Payments related to tax-withholding for share based compensation awards | (24,593 | ) | — | ||||
Other, net | — | 4,865 | |||||
Net cash provided by (used for) financing activities | 1,152,103 | 2,329,379 | |||||
Increase (decrease) in cash and cash equivalents | 130,706 | 20,024 | |||||
Cash and cash equivalents at beginning of period | 1,384,770 | 847,156 | |||||
Cash and cash equivalents at end of period | $ | 1,515,476 | $ | 867,180 |
Six Months Ended June 30, | |||||||
(dollar amounts in thousands) | 2017 | 2016 | |||||
Supplemental disclosures: | |||||||
Interest paid | $ | 185,107 | $ | 107,428 | |||
Income taxes paid | 54,434 | 3,099 | |||||
Non-cash activities | |||||||
Loans transferred to held-for-sale from portfolio | 298,331 | 266,527 | |||||
Loans transferred to portfolio from held-for-sale | 1,265 | 10,661 | |||||
Transfer of loans to OREO | 16,926 | 12,974 | |||||
Transfer of securities to held to maturity from available for sale | 992,760 | — |
(dollar amounts in thousands) | June 30, 2017 | December 31, 2016 | |||||
Loans and leases: | |||||||
Commercial and industrial | $ | 27,969,151 | $ | 28,058,712 | |||
Commercial real estate | 7,145,151 | 7,300,901 | |||||
Automobile | 11,555,137 | 10,968,782 | |||||
Home equity | 9,965,534 | 10,105,774 | |||||
Residential mortgage | 8,237,297 | 7,724,961 | |||||
RV and marine finance | 2,177,732 | 1,846,447 | |||||
Other consumer | 1,009,308 | 956,419 | |||||
Loans and leases | 68,059,310 | 66,961,996 | |||||
Allowance for loan and lease losses | (667,996 | ) | (638,413 | ) | |||
Net loans and leases | $ | 67,391,314 | $ | 66,323,583 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||
(dollar amounts in thousands) | 2017 | 2017 | ||||||
FirstMerit | ||||||||
Balance, beginning of period | $ | 37,372 | $ | 36,669 | ||||
Accretion | (4,788 | ) | (9,490 | ) | ||||
Reclassification (to) from nonaccretable difference | 3,925 | 9,330 | ||||||
Balance, end of period | $ | 36,509 | $ | 36,509 |
June 30, 2017 | December 31, 2016 | ||||||||||||||||||||||
(dollar amounts in thousands) | Ending Balance | Unpaid Balance | ALLL | Ending Balance | Unpaid Balance | ALLL | |||||||||||||||||
FirstMerit | |||||||||||||||||||||||
Commercial and industrial | $ | 54,942 | $ | 81,934 | $ | 970 | $ | 68,338 | $ | 100,031 | $ | — | |||||||||||
Commercial real estate | 20,780 | 34,904 | — | 34,042 | 56,320 | — | |||||||||||||||||
Total | $ | 75,722 | $ | 116,838 | $ | 970 | $ | 102,380 | $ | 156,351 | $ | — |
(dollar amounts in thousands) | June 30, 2017 | December 31, 2016 | |||||
Commercial and industrial | $ | 195,279 | $ | 234,184 | |||
Commercial real estate | 16,763 | 20,508 | |||||
Automobile | 3,825 | 5,766 | |||||
Home equity | 67,940 | 71,798 | |||||
Residential mortgage | 80,306 | 90,502 | |||||
RV and marine finance | 341 | 245 | |||||
Other consumer | 2 | — | |||||
Total nonaccrual loans | $ | 364,456 | $ | 423,003 |
June 30, 2017 | ||||||||||||||||||||||||||||||||||||
Past Due | Loans Accounted for Under the Fair Value Option | Total Loans and Leases | 90 or more days past due and accruing | |||||||||||||||||||||||||||||||||
(dollar amounts in thousands) | 30-59 Days | 60-89 Days | 90 or more days | Total | Current | Purchased Credit Impaired | ||||||||||||||||||||||||||||||
Commercial and industrial | $ | 44,796 | $ | 13,608 | $ | 84,609 | $ | 143,013 | $ | 27,771,196 | $ | 54,942 | $ | — | $ | 27,969,151 | $ | 21,501 | (2) | |||||||||||||||||
Commercial real estate | 7,382 | 3,918 | 27,314 | 38,614 | 7,085,757 | 20,780 | — | 7,145,151 | 17,040 | |||||||||||||||||||||||||||
Automobile | 68,600 | 15,241 | 8,716 | 92,557 | 11,461,169 | — | 1,411 | 11,555,137 | 8,594 | |||||||||||||||||||||||||||
Home equity | 44,513 | 16,463 | 61,159 | 122,135 | 9,840,922 | — | 2,477 | 9,965,534 | 18,459 | |||||||||||||||||||||||||||
Residential mortgage | 117,779 | 40,327 | 110,842 | 268,948 | 7,869,927 | — | 98,422 | 8,237,297 | 65,159 | (3) | ||||||||||||||||||||||||||
RV and marine finance | 8,072 | 2,443 | 2,666 | 13,181 | 2,163,346 | — | 1,205 | 2,177,732 | 2,464 | |||||||||||||||||||||||||||
Other consumer | 9,913 | 4,081 | 3,146 | 17,140 | 991,942 | — | 226 | 1,009,308 | 3,143 | |||||||||||||||||||||||||||
Total loans and leases | $ | 301,055 | $ | 96,081 | $ | 298,452 | $ | 695,588 | $ | 67,184,259 | $ | 75,722 | $ | 103,741 | $ | 68,059,310 | $ | 136,360 |
December 31, 2016 | ||||||||||||||||||||||||||||||||||||
Past Due | Loans Accounted for Under the Fair Value Option | Total Loans and Leases | 90 or more days past due and accruing | |||||||||||||||||||||||||||||||||
(dollar amounts in thousands) | 30-59 Days | 60-89 Days | 90 or more days | Total | Current | Purchased Credit Impaired | ||||||||||||||||||||||||||||||
Commercial and industrial | 42,052 | 20,136 | 74,174 | 136,362 | 27,854,012 | 68,338 | — | 28,058,712 | 18,148 | (2) | ||||||||||||||||||||||||||
Commercial real estate | 21,187 | 3,202 | 29,659 | 54,048 | 7,212,811 | 34,042 | — | 7,300,901 | 17,215 | |||||||||||||||||||||||||||
Automobile loans | 76,283 | 17,188 | 10,442 | 103,913 | 10,862,715 | — | 2,154 | 10,968,782 | 10,182 | |||||||||||||||||||||||||||
Home equity | 38,899 | 23,903 | 53,002 | 115,804 | 9,986,697 | — | 3,273 | 10,105,774 | 11,508 | |||||||||||||||||||||||||||
Residential mortgage | 122,469 | 37,460 | 116,682 | 276,611 | 7,373,414 | — | 74,936 | 7,724,961 | 66,952 | (3) | ||||||||||||||||||||||||||
RV and marine finance | 10,009 | 2,230 | 1,566 | 13,805 | 1,831,123 | — | 1,519 | 1,846,447 | 1,462 | |||||||||||||||||||||||||||
Other consumer | 9,442 | 4,324 | 3,894 | 17,660 | 938,322 | — | 437 | 956,419 | 3,895 | |||||||||||||||||||||||||||
Total loans and leases | $ | 320,341 | $ | 108,443 | $ | 289,419 | $ | 718,203 | $ | 66,059,094 | $ | 102,380 | $ | 82,319 | $ | 66,961,996 | $ | 129,362 |
(1) | NALs are included in this aging analysis based on the loan’s past due status. |
(2) | Amounts include Huntington Technology Finance administrative lease delinquencies. |
(3) | Amounts include loans guaranteed by government organizations. |
(dollar amounts in thousands) | Commercial | Consumer | Total | |||||||||
Three-month period ended June 30, 2017: | ||||||||||||
ALLL balance, beginning of period | $ | 480,308 | $ | 192,272 | $ | 672,580 | ||||||
Loan charge-offs | (15,103 | ) | (41,345 | ) | (56,448 | ) | ||||||
Recoveries of loans previously charged-off | 5,787 | 14,621 | 20,408 | |||||||||
Provision for (reduction in allowance) loan and lease losses | 3,585 | 27,872 | 31,457 | |||||||||
Allowance for loans sold or transferred to loans held for sale | (1 | ) | — | (1 | ) | |||||||
ALLL balance, end of period | $ | 474,576 | $ | 193,420 | $ | 667,996 | ||||||
AULC balance, beginning of period | $ | 88,899 | $ | 2,939 | $ | 91,838 | ||||||
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | (6,072 | ) | (407 | ) | (6,479 | ) | ||||||
AULC balance, end of period | $ | 82,827 | $ | 2,532 | $ | 85,359 | ||||||
ACL balance, end of period | $ | 557,403 | $ | 195,952 | $ | 753,355 | ||||||
Six-month period ended June 30, 2017: | ||||||||||||
ALLL balance, beginning of period | $ | 451,091 | $ | 187,322 | $ | 638,413 | ||||||
Loan charge-offs | (38,773 | ) | (88,390 | ) | (127,163 | ) | ||||||
Recoveries of loans previously charged-off | 23,604 | 28,081 | 51,685 | |||||||||
Provision for (reduction in allowance) loan and lease losses | 38,729 | 66,407 | 105,136 | |||||||||
Allowance for loans sold or transferred to loans held for sale | (75 | ) | — | (75 | ) | |||||||
ALLL balance, end of period | $ | 474,576 | $ | 193,420 | $ | 667,996 | ||||||
AULC balance, beginning of period | $ | 86,543 | $ | 11,336 | $ | 97,879 | ||||||
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | (3,716 | ) | (8,804 | ) | (12,520 | ) | ||||||
AULC balance, end of period | $ | 82,827 | $ | 2,532 | $ | 85,359 | ||||||
ACL balance, end of period | $ | 557,403 | $ | 195,952 | $ | 753,355 |
(dollar amounts in thousands) | Commercial | Consumer | Total | |||||||||
Three-month period ended June 30, 2016: | ||||||||||||
ALLL balance, beginning of period | $ | 422,441 | $ | 191,278 | $ | 613,719 | ||||||
Loan charge-offs | (16,933 | ) | (26,612 | ) | (43,545 | ) | ||||||
Recoveries of loans previously charged-off | 13,904 | 12,886 | 26,790 | |||||||||
Provision for (reduction in allowance) loan and lease losses | 5,095 | 20,991 | 26,086 | |||||||||
Allowance for loans sold or transferred to loans held for sale | — | 14 | 14 | |||||||||
ALLL balance, end of period | $ | 424,507 | $ | 198,557 | $ | 623,064 | ||||||
AULC balance, beginning of period | $ | 65,872 | $ | 9,453 | $ | 75,325 | ||||||
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | (2,155 | ) | 578 | (1,577 | ) | |||||||
AULC balance, end of period | $ | 63,717 | $ | 10,031 | $ | 73,748 | ||||||
ACL balance, end of period | $ | 488,224 | $ | 208,588 | $ | 696,812 | ||||||
Six-month period ended June 30, 2016: | ||||||||||||
ALLL balance, beginning of period | $ | 398,753 | $ | 199,090 | $ | 597,843 | ||||||
Loan charge-offs | (45,882 | ) | (57,355 | ) | (103,237 | ) | ||||||
Recoveries of loans previously charged-off | 53,815 | 24,115 | 77,930 | |||||||||
Provision for (reduction in allowance) loan and lease losses | 17,821 | 32,603 | 50,424 | |||||||||
Allowance for loans sold or transferred to loans held for sale | — | 104 | 104 | |||||||||
ALLL balance, end of period | $ | 424,507 | $ | 198,557 | $ | 623,064 | ||||||
AULC balance, beginning of period | $ | 63,448 | $ | 8,633 | $ | 72,081 | ||||||
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | 269 | 1,398 | 1,667 | |||||||||
AULC balance, end of period | $ | 63,717 | $ | 10,031 | $ | 73,748 | ||||||
ACL balance, end of period | $ | 488,224 | $ | 208,588 | $ | 696,812 |
June 30, 2017 | |||||||||||||||||||
Credit Risk Profile by UCS Classification | |||||||||||||||||||
(dollar amounts in thousands) | Pass | OLEM | Substandard | Doubtful | Total | ||||||||||||||
Commercial | |||||||||||||||||||
Commercial and industrial | $ | 26,006,917 | $ | 798,643 | $ | 1,138,508 | $ | 25,083 | $ | 27,969,151 | |||||||||
Commercial real estate | 6,923,159 | 88,932 | 132,017 | 1,043 | 7,145,151 | ||||||||||||||
Credit Risk Profile by FICO Score (1), (2) | |||||||||||||||||||
750+ | 650-749 | <650 | Other (3) | Total | |||||||||||||||
Consumer | |||||||||||||||||||
Automobile | $ | 5,728,416 | $ | 4,202,063 | $ | 1,350,925 | $ | 272,322 | $ | 11,553,726 | |||||||||
Home equity | 6,296,801 | 3,013,152 | 619,661 | 33,443 | 9,963,057 | ||||||||||||||
Residential mortgage | 4,945,403 | 2,449,297 | 610,720 | 133,455 | 8,138,875 | ||||||||||||||
RV and marine finance | 1,287,480 | 774,873 | 85,844 | 28,330 | 2,176,527 | ||||||||||||||
Other consumer | 386,659 | 481,324 | 135,161 | 5,938 | 1,009,082 |
December 31, 2016 | |||||||||||||||||||
Credit Risk Profile by UCS Classification | |||||||||||||||||||
(dollar amounts in thousands) | Pass | OLEM | Substandard | Doubtful | Total | ||||||||||||||
Commercial | |||||||||||||||||||
Commercial and industrial | $ | 26,211,885 | $ | 810,287 | $ | 1,028,819 | $ | 7,721 | $ | 28,058,712 | |||||||||
Commercial real estate | 7,042,304 | 96,975 | 159,098 | 2,524 | 7,300,901 | ||||||||||||||
Credit Risk Profile by FICO Score (1), (2) | |||||||||||||||||||
750+ | 650-749 | <650 | Other (3) | Total | |||||||||||||||
Consumer | |||||||||||||||||||
Automobile | $ | 5,369,085 | $ | 4,043,611 | $ | 1,298,460 | $ | 255,472 | $ | 10,966,628 | |||||||||
Home equity | 6,280,328 | 2,891,330 | 637,560 | 293,283 | 10,102,501 | ||||||||||||||
Residential mortgage | 4,662,777 | 2,285,121 | 615,067 | 87,060 | 7,650,025 | ||||||||||||||
RV and marine finance | 1,064,143 | 644,039 | 72,995 | 63,751 | 1,844,928 | ||||||||||||||
Other consumer | 346,867 | 455,959 | 133,243 | 19,913 | 955,982 |
(1) | Excludes loans accounted for under the fair value option. |
(2) | Reflects most recent customer credit scores. |
(3) | Reflects deferred fees and costs, loans in process, loans to legal entities, etc. |
(dollar amounts in thousands) | Commercial | Consumer | Total | |||||||||
ALLL at June 30, 2017: | ||||||||||||
Portion of ALLL balance: | ||||||||||||
Purchased credit-impaired loans | $ | 970 | $ | — | $ | 970 | ||||||
Attributable to loans individually evaluated for impairment | 14,239 | 9,044 | 23,283 | |||||||||
Attributable to loans collectively evaluated for impairment | 459,367 | 184,376 | 643,743 | |||||||||
Total ALLL balance | $ | 474,576 | $ | 193,420 | $ | 667,996 | ||||||
Loan and Lease Ending Balances at June 30, 2017: (1) | ||||||||||||
Portion of loan and lease ending balance: | ||||||||||||
Purchased credit-impaired loans | $ | 75,722 | $ | — | $ | 75,722 | ||||||
Individually evaluated for impairment | 441,499 | 451,192 | 892,691 | |||||||||
Collectively evaluated for impairment | 34,597,081 | 32,390,075 | 66,987,156 | |||||||||
Total loans and leases evaluated for impairment | $ | 35,114,302 | $ | 32,841,267 | $ | 67,955,569 |
(dollar amounts in thousands) | Commercial | Consumer | Total | |||||||||
ALLL at December 31, 2016 | ||||||||||||
Portion of ALLL balance: | ||||||||||||
Attributable to loans individually evaluated for impairment | $ | 10,525 | $ | 11,021 | $ | 21,546 | ||||||
Attributable to loans collectively evaluated for impairment | 440,566 | 176,301 | 616,867 | |||||||||
Total ALLL balance: | $ | 451,091 | $ | 187,322 | $ | 638,413 | ||||||
Loan and Lease Ending Balances at December 31, 2016 (1) | ||||||||||||
Portion of loan and lease ending balances: | ||||||||||||
Purchased credit-impaired loans | $ | 102,380 | $ | — | $ | 102,380 | ||||||
Individually evaluated for impairment | 415,624 | 457,890 | 873,514 | |||||||||
Collectively evaluated for impairment | 34,841,609 | 31,062,174 | 65,903,783 | |||||||||
Total loans and leases evaluated for impairment | $ | 35,359,613 | $ | 31,520,064 | $ | 66,879,677 |
(1) | Excludes loans accounted for under the fair value option. |
June 30, 2017 | Three Months Ended June 30, 2017 | Six Months Ended June 30, 2017 | |||||||||||||||||||||||||
(dollar amounts in thousands) | Ending Balance | Unpaid Principal Balance (5) | Related Allowance | Average Balance | Interest Income Recognized | Average Balance | Interest Income Recognized | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||
Commercial and industrial | $ | 261,285 | $ | 270,571 | $ | — | $ | 262,631 | $ | 4,852 | $ | 268,041 | $ | 9,352 | |||||||||||||
Commercial real estate | 76,463 | 106,248 | — | 82,296 | 1,937 | 84,865 | 3,937 | ||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | ||||||||||||||||||||
Home equity | — | — | — | — | — | — | — | ||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | — | ||||||||||||||||||||
RV and marine finance | — | — | — | — | — | — | — | ||||||||||||||||||||
Other consumer | — | — | — | — | — | — | — | ||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||
Commercial and industrial (3) | 283,409 | 342,188 | 24,423 | 258,066 | 2,002 | 310,611 | 3,908 | ||||||||||||||||||||
Commercial real estate (4) | 34,270 | 41,695 | 2,340 | 38,753 | 453 | 58,563 | 920 | ||||||||||||||||||||
Automobile | 32,431 | 32,642 | 1,889 | 32,581 | 546 | 32,041 | 1,080 | ||||||||||||||||||||
Home equity (6) | 325,805 | 357,738 | 17,844 | 326,280 | 3,977 | 323,988 | 7,927 | ||||||||||||||||||||
Residential mortgage (6) | 329,050 | 363,277 | 11,578 | 339,289 | 2,903 | 335,444 | 6,013 | ||||||||||||||||||||
RV and marine finance | 1,331 | 1,355 | 134 | 1,009 | 23 | 672 | 34 | ||||||||||||||||||||
Other consumer | 4,126 | 4,126 | 253 | 4,186 | 55 | 4,090 | 111 | ||||||||||||||||||||
Total | |||||||||||||||||||||||||||
Commercial and industrial | 544,694 | 612,759 | 24,423 | 520,697 | 6,854 | 578,652 | 13,260 | ||||||||||||||||||||
Commercial real estate | 110,733 | 147,943 | 2,340 | 121,049 | 2,390 | 143,428 | 4,857 | ||||||||||||||||||||
Automobile | 32,431 | 32,642 | 1,889 | 32,581 | 546 | 32,041 | 1,080 | ||||||||||||||||||||
Home equity | 325,805 | 357,738 | 17,844 | 326,280 | 3,977 | 323,988 | 7,927 | ||||||||||||||||||||
Residential mortgage | 329,050 | 363,277 | 11,578 | 339,289 | 2,903 | 335,444 | 6,013 | ||||||||||||||||||||
RV and marine finance | 1,331 | 1,355 | 134 | 1,009 | 23 | 672 | 34 | ||||||||||||||||||||
Other consumer | 4,126 | 4,126 | 253 | 4,186 | 55 | 4,090 | 111 |
December 31, 2016 | Three Months Ended June 30, 2016 | Six Months Ended June 30, 2016 | |||||||||||||||||||||||||
(dollar amounts in thousands) | Ending Balance | Unpaid Principal Balance (5) | Related Allowance | Average Balance | Interest Income Recognized | Average Balance | Interest Income Recognized | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||
Commercial and industrial | $ | 299,606 | $ | 358,712 | $ | — | $ | 289,138 | $ | 2,392 | $ | 284,128 | $ | 4,623 | |||||||||||||
Commercial real estate | 88,817 | 126,152 | — | 72,569 | 1,855 | 72,640 | 3,472 | ||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | ||||||||||||||||||||
Home equity | — | — | — | — | — | — | — | ||||||||||||||||||||
Residential mortgage | — | — | — | 1,298 | 109 | 1,350 | 111 | ||||||||||||||||||||
RV and marine finance | — | — | — | — | — | — | — | ||||||||||||||||||||
Other consumer | — | — | — | 19 | 2 | 30 | 104 | ||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||
Commercial and industrial (3) | 406,243 | 448,121 | 22,259 | 291,761 | 1,739 | 269,518 | 3,829 | ||||||||||||||||||||
Commercial real estate (4) | 97,238 | 107,512 | 3,434 | 58,357 | 615 | 69,501 | 1,373 | ||||||||||||||||||||
Automobile | 30,961 | 31,298 | 1,850 | 32,032 | 524 | 31,789 | 1,102 | ||||||||||||||||||||
Home equity (6) | 319,404 | 352,722 | 15,032 | 248,056 | 2,962 | 248,317 | 5,930 | ||||||||||||||||||||
Residential mortgage (6) | 327,753 | 363,099 | 12,849 | 352,489 | 3,027 | 357,324 | 6,064 | ||||||||||||||||||||
RV and marine finance | — | — | — | — | — | — | — | ||||||||||||||||||||
Other consumer | 3,897 | 3,897 | 260 | 4,812 | 53 | 4,754 | 120 | ||||||||||||||||||||
Total | |||||||||||||||||||||||||||
Commercial and industrial | 705,849 | 806,833 | 22,259 | 580,899 | 4,131 | 553,646 | 8,452 | ||||||||||||||||||||
Commercial real estate | 186,055 | 233,664 | 3,434 | 130,926 | 2,470 | 142,141 | 4,845 | ||||||||||||||||||||
Automobile | 30,961 | 31,298 | 1,850 | 32,032 | 524 | 31,789 | 1,102 | ||||||||||||||||||||
Home equity | 319,404 | 352,722 | 15,032 | 248,056 | 2,962 | 248,317 | 5,930 | ||||||||||||||||||||
Residential mortgage | 327,753 | 363,099 | 12,849 | 353,787 | 3,136 | 358,674 | 6,175 | ||||||||||||||||||||
RV and marine finance | — | — | — | — | — | — | — | ||||||||||||||||||||
Other consumer | 3,897 | 3,897 | 260 | 4,831 | 55 | 4,784 | 224 |
(1) | These tables do not include loans fully charged-off. |
(2) | All automobile, RV and marine finance and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. |
(3) | At June 30, 2017 and December 31, 2016, commercial and industrial loans of $115 million and $293 million, respectively, were considered impaired due to their status as a TDR. |
(4) | At June 30, 2017 and December 31, 2016, commercial real estate loans of $23 million and $81 million, respectively, were considered impaired due to their status as a TDR. |
(5) | The differences between the ending balance and unpaid principal balance amounts represent partial charge-offs. |
(6) | Includes home equity and residential mortgages considered to be collateral dependent as well as home equity and mortgage loans considered impaired due to their status as a TDR. |
New Troubled Debt Restructurings During The Three-Month Period Ended (1) | |||||||||||||||||||||
June 30, 2017 | June 30, 2016 | ||||||||||||||||||||
(dollar amounts in thousands) | Number of Contracts | Post-modification Outstanding Ending Balance | Financial effects of modification (2) | Number of Contracts | Post-modification Outstanding Ending Balance | Financial effects of modification (2) | |||||||||||||||
Commercial and industrial: | |||||||||||||||||||||
Interest rate reduction | 1 | $ | 18 | $ | — | 1 | $ | 22 | $ | — | |||||||||||
Amortization or maturity date change | 228 | 168,118 | (6,856 | ) | 199 | 133,933 | (3,490 | ) | |||||||||||||
Other | 1 | 220 | — | 2 | 232 | — | |||||||||||||||
Total Commercial and industrial | 230 | 168,356 | (6,856 | ) | 202 | 134,187 | (3,490 | ) | |||||||||||||
Commercial real estate: | |||||||||||||||||||||
Interest rate reduction | — | — | — | 1 | 84 | — | |||||||||||||||
Amortization or maturity date change | 19 | 25,027 | (427 | ) | 36 | 16,017 | (723 | ) | |||||||||||||
Other | — | — | — | 2 | 52 | — | |||||||||||||||
Total commercial real estate: | 19 | 25,027 | (427 | ) | 39 | 16,153 | (723 | ) | |||||||||||||
Automobile: | |||||||||||||||||||||
Interest rate reduction | 5 | 58 | 1 | 3 | 64 | 5 | |||||||||||||||
Amortization or maturity date change | 334 | 2,853 | 67 | 286 | 2,663 | 202 | |||||||||||||||
Chapter 7 bankruptcy | 198 | 1,494 | 18 | 244 | 1,982 | 114 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Automobile | 537 | 4,405 | 86 | 533 | 4,709 | 321 | |||||||||||||||
Home equity: | |||||||||||||||||||||
Interest rate reduction | 9 | 506 | 6 | 9 | 627 | 26 | |||||||||||||||
Amortization or maturity date change | 135 | 8,372 | (754 | ) | 127 | 6,401 | (736 | ) | |||||||||||||
Chapter 7 bankruptcy | 77 | 2,417 | 364 | 46 | 2,114 | 267 | |||||||||||||||
Other | 12 | 512 | — | — | — | — | |||||||||||||||
Total Home equity | 233 | 11,807 | (384 | ) | 182 | 9,142 | (443 | ) | |||||||||||||
Residential mortgage: | |||||||||||||||||||||
Interest rate reduction | — | — | — | 5 | 404 | 17 | |||||||||||||||
Amortization or maturity date change | 81 | 8,296 | (231 | ) | 108 | 10,641 | (420 | ) | |||||||||||||
Chapter 7 bankruptcy | 25 | 1,981 | (1 | ) | 6 | 1,178 | (49 | ) | |||||||||||||
Other | 5 | 464 | 3 | 1 | 164 | — | |||||||||||||||
Total Residential mortgage | 111 | 10,741 | (229 | ) | 120 | 12,387 | (452 | ) | |||||||||||||
RV and marine finance: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 10 | 150 | 4 | — | — | — | |||||||||||||||
Chapter 7 bankruptcy | 34 | 544 | 6 | — | — | — | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total RV and marine finance | 44 | 694 | 10 | — | — | — | |||||||||||||||
Other consumer: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 2 | 21 | — | 1 | 4 | — | |||||||||||||||
Chapter 7 bankruptcy | 2 | 8 | — | — | — | — | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Other consumer | 4 | 29 | — | 1 | 4 | — | |||||||||||||||
Total new troubled debt restructurings | 1,178 | $ | 221,059 | $ | (7,800 | ) | 1,077 | $ | 176,582 | $ | (4,787 | ) |
New Troubled Debt Restructurings During The Six-Month Period Ended (1) | |||||||||||||||||||||
June 30, 2017 | June 30, 2016 | ||||||||||||||||||||
(dollar amounts in thousands) | Number of Contracts | Post-modification Outstanding Ending Balance | Financial effects of modification (2) | Number of Contracts | Post-modification Outstanding Ending Balance | Financial effects of modification (2) | |||||||||||||||
Commercial and industrial: | |||||||||||||||||||||
Interest rate reduction | 2 | $ | 37 | $ | 6 | 2 | $ | 39 | $ | (1 | ) | ||||||||||
Amortization or maturity date change | 464 | 280,543 | (7,858 | ) | 383 | 256,591 | (2,918 | ) | |||||||||||||
Other | 4 | 380 | (27 | ) | 10 | 1,090 | (4 | ) | |||||||||||||
Total Commercial and industrial | 470 | 280,960 | (7,879 | ) | 395 | 257,720 | (2,923 | ) | |||||||||||||
Commercial real estate: | |||||||||||||||||||||
Interest rate reduction | — | — | — | 1 | 84 | — | |||||||||||||||
Amortization or maturity date change | 43 | 56,290 | (815 | ) | 60 | 49,812 | (1,282 | ) | |||||||||||||
Other | — | — | — | 4 | 315 | 16 | |||||||||||||||
Total commercial real estate: | 43 | 56,290 | (815 | ) | 65 | 50,211 | (1,266 | ) | |||||||||||||
Automobile: | |||||||||||||||||||||
Interest rate reduction | 19 | 236 | 6 | 7 | 106 | 7 | |||||||||||||||
Amortization or maturity date change | 811 | 7,154 | 178 | 707 | 6,564 | 422 | |||||||||||||||
Chapter 7 bankruptcy | 438 | 3,316 | 47 | 561 | 4,544 | 229 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Automobile | 1,268 | 10,706 | 231 | 1,275 | 11,214 | 658 | |||||||||||||||
Home equity: | |||||||||||||||||||||
Interest rate reduction | 17 | 1,068 | 13 | 29 | 2,011 | 93 | |||||||||||||||
Amortization or maturity date change | 241 | 13,868 | (1,428 | ) | 356 | 18,291 | (2,018 | ) | |||||||||||||
Chapter 7 bankruptcy | 164 | 6,036 | 1,402 | 145 | 5,711 | 1,000 | |||||||||||||||
Other | 70 | 4,241 | (326 | ) | — | — | — | ||||||||||||||
Total Home equity | 492 | 25,213 | (339 | ) | 530 | 26,013 | (925 | ) | |||||||||||||
Residential mortgage: | |||||||||||||||||||||
Interest rate reduction | 2 | 110 | (9 | ) | 10 | 1,061 | (15 | ) | |||||||||||||
Amortization or maturity date change | 180 | 19,367 | (489 | ) | 200 | 21,400 | (997 | ) | |||||||||||||
Chapter 7 bankruptcy | 49 | 4,672 | (137 | ) | 23 | 2,683 | 21 | ||||||||||||||
Other | 21 | 2,384 | 17 | 1 | 164 | — | |||||||||||||||
Total Residential mortgage | 252 | 26,533 | (618 | ) | 234 | 25,308 | (991 | ) | |||||||||||||
RV and marine finance: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 24 | 626 | 16 | — | — | — | |||||||||||||||
Chapter 7 bankruptcy | 49 | 754 | 10 | — | — | — | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total RV and marine finance | 73 | 1,380 | 26 | — | — | — | |||||||||||||||
Other consumer: | |||||||||||||||||||||
Interest rate reduction | 1 | 78 | 2 | — | — | — | |||||||||||||||
Amortization or maturity date change | 4 | 288 | 7 | 5 | 559 | 24 | |||||||||||||||
Chapter 7 bankruptcy | 3 | 12 | — | 7 | 66 | 7 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Other consumer | 8 | 378 | 9 | 12 | 625 | 31 | |||||||||||||||
Total new troubled debt restructurings | 2,606 | $ | 401,460 | $ | (9,385 | ) | 2,511 | $ | 371,091 | $ | (5,416 | ) |
(1) | TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. |
June 30, 2017 | December 31, 2016 | ||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||
U.S. Treasury, Federal agency, and other agency securities: | |||||||||||||||
U.S. Treasury: | |||||||||||||||
1 year or less | $ | 10,139 | $ | 10,139 | $ | 4,978 | $ | 4,988 | |||||||
After 1 year through 5 years | 502 | 505 | 502 | 509 | |||||||||||
After 5 years through 10 years | — | — | — | — | |||||||||||
After 10 years | — | — | — | — | |||||||||||
Total U.S. Treasury | 10,641 | 10,644 | 5,480 | 5,497 | |||||||||||
Federal agencies: mortgage-backed securities: | |||||||||||||||
1 year or less | — | — | — | — | |||||||||||
After 1 year through 5 years | 28,085 | 27,891 | 46,591 | 46,762 | |||||||||||
After 5 years through 10 years | 200,334 | 199,224 | 173,941 | 176,404 | |||||||||||
After 10 years | 10,536,086 | 10,396,940 | 10,630,929 | 10,450,176 | |||||||||||
Total Federal agencies: mortgage-backed securities | 10,764,505 | 10,624,055 | 10,851,461 | 10,673,342 | |||||||||||
Other agencies: | |||||||||||||||
1 year or less | 4,103 | 4,142 | 4,302 | 4,367 | |||||||||||
After 1 year through 5 years | 9,498 | 9,647 | 5,092 | 5,247 | |||||||||||
After 5 years through 10 years | 86,049 | 86,502 | 63,618 | 63,928 | |||||||||||
After 10 years | — | — | — | — | |||||||||||
Total other agencies | 99,650 | 100,291 | 73,012 | 73,542 | |||||||||||
Total U.S. Treasury, Federal agency, and other agency securities | 10,874,796 | 10,734,990 | 10,929,953 | 10,752,381 | |||||||||||
Municipal securities: | |||||||||||||||
1 year or less | 120,216 | 121,345 | 169,636 | 166,887 | |||||||||||
After 1 year through 5 years | 1,113,974 | 1,123,450 | 933,893 | 933,903 | |||||||||||
After 5 years through 10 years | 1,493,652 | 1,508,930 | 1,463,459 | 1,464,583 | |||||||||||
After 10 years | 555,096 | 558,775 | 693,440 | 684,684 | |||||||||||
Total municipal securities | 3,282,938 | 3,312,500 | 3,260,428 | 3,250,057 | |||||||||||
Asset-backed securities: | |||||||||||||||
1 year or less | — | — | — | — | |||||||||||
After 1 year through 5 years | 80,018 | 80,177 | 80,700 | 80,560 | |||||||||||
After 5 years through 10 years | 144,969 | 146,256 | 223,352 | 224,565 | |||||||||||
After 10 years | 389,154 | 368,366 | 520,072 | 488,356 | |||||||||||
Total asset-backed securities | 614,141 | 594,799 | 824,124 | 793,481 | |||||||||||
Corporate debt: | |||||||||||||||
1 year or less | 3,238 | 3,268 | 43,223 | 43,603 | |||||||||||
After 1 year through 5 years | 64,369 | 65,808 | 78,430 | 80,196 | |||||||||||
After 5 years through 10 years | 49,546 | 51,878 | 32,523 | 32,865 | |||||||||||
After 10 years | 21,386 | 23,081 | 40,361 | 42,019 | |||||||||||
Total corporate debt | 138,539 | 144,035 | 194,537 | 198,683 | |||||||||||
Other: | |||||||||||||||
1 year or less | 3,151 | 3,142 | 1,650 | 1,650 | |||||||||||
After 1 year through 5 years | 800 | 790 | 2,302 | 2,283 | |||||||||||
After 5 years through 10 years | — | — | — | — | |||||||||||
After 10 years | 94 | 94 | 10 | 10 | |||||||||||
Nonmarketable equity securities | 585,472 | 585,471 | 547,704 | 547,704 | |||||||||||
Mutual funds | 11,184 | 11,184 | 15,286 | 15,286 | |||||||||||
Marketable equity securities | 861 | 1,301 | 861 | 1,302 | |||||||||||
Total other | 601,562 | 601,982 | 567,813 | 568,235 | |||||||||||
Total available-for-sale and other securities | $ | 15,511,976 | $ | 15,388,306 | $ | 15,776,855 | $ | 15,562,837 |
Unrealized | |||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Gross Gains | Gross Losses | Fair Value | |||||||||||
June 30, 2017 | |||||||||||||||
U.S. Treasury | $ | 10,641 | $ | 3 | $ | — | $ | 10,644 | |||||||
Federal agencies: | |||||||||||||||
Mortgage-backed securities | 10,764,505 | 8,652 | (149,102 | ) | 10,624,055 | ||||||||||
Other agencies | 99,650 | 689 | (48 | ) | 100,291 | ||||||||||
Total U.S. Treasury, Federal agency securities | 10,874,796 | 9,344 | (149,150 | ) | 10,734,990 | ||||||||||
Municipal securities | 3,282,938 | 47,711 | (18,149 | ) | 3,312,500 | ||||||||||
Asset-backed securities | 614,141 | 2,256 | (21,598 | ) | 594,799 | ||||||||||
Corporate debt | 138,539 | 5,500 | (4 | ) | 144,035 | ||||||||||
Other securities | 601,562 | 439 | (19 | ) | 601,982 | ||||||||||
Total available-for-sale and other securities | $ | 15,511,976 | $ | 65,250 | $ | (188,920 | ) | $ | 15,388,306 |
Unrealized | |||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Gross Gains | Gross Losses | Fair Value | |||||||||||
December 31, 2016 | |||||||||||||||
U.S. Treasury | $ | 5,480 | $ | 17 | $ | — | $ | 5,497 | |||||||
Federal agencies: | |||||||||||||||
Mortgage-backed securities | 10,851,461 | 12,548 | (190,667 | ) | 10,673,342 | ||||||||||
Other agencies | 73,012 | 536 | (6 | ) | 73,542 | ||||||||||
Total U.S. Treasury, Federal agency securities | 10,929,953 | 13,101 | (190,673 | ) | 10,752,381 | ||||||||||
Municipal securities | 3,260,428 | 28,431 | (38,802 | ) | 3,250,057 | ||||||||||
Asset-backed securities | 824,124 | 1,492 | (32,135 | ) | 793,481 | ||||||||||
Corporate debt | 194,537 | 4,161 | (15 | ) | 198,683 | ||||||||||
Other securities | 567,813 | 441 | (19 | ) | 568,235 | ||||||||||
Total available-for-sale and other securities | $ | 15,776,855 | $ | 47,626 | $ | (261,644 | ) | $ | 15,562,837 |
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||||||
(dollar amounts in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||
June 30, 2017 | |||||||||||||||||||||||
Federal agencies: | |||||||||||||||||||||||
Mortgage-backed securities | $ | 8,879,526 | $ | (147,900 | ) | $ | 42,504 | $ | (1,202 | ) | $ | 8,922,030 | $ | (149,102 | ) | ||||||||
Other agencies | 12,793 | (48 | ) | — | — | 12,793 | (48 | ) | |||||||||||||||
Total Federal agency securities | 8,892,319 | (147,948 | ) | 42,504 | (1,202 | ) | 8,934,823 | (149,150 | ) | ||||||||||||||
Municipal securities | 702,379 | (11,895 | ) | 241,487 | (6,254 | ) | 943,866 | (18,149 | ) | ||||||||||||||
Asset-backed securities | 177,834 | (1,348 | ) | 173,808 | (20,250 | ) | 351,642 | (21,598 | ) | ||||||||||||||
Corporate debt | 595 | (4 | ) | 200 | — | 795 | (4 | ) | |||||||||||||||
Other securities | 790 | (10 | ) | 1,491 | (9 | ) | 2,281 | (19 | ) | ||||||||||||||
Total temporarily impaired securities | $ | 9,773,917 | $ | (161,205 | ) | $ | 459,490 | $ | (27,715 | ) | $ | 10,233,407 | $ | (188,920 | ) |
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||||||
(dollar amounts in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||
December 31, 2016 | |||||||||||||||||||||||
Federal agencies: | |||||||||||||||||||||||
Mortgage-backed securities | $ | 8,908,470 | $ | (189,318 | ) | $ | 41,706 | $ | (1,349 | ) | $ | 8,950,176 | $ | (190,667 | ) | ||||||||
Other agencies | 924 | (6 | ) | — | — | 924 | (6 | ) | |||||||||||||||
Total Federal agency securities | 8,909,394 | (189,324 | ) | 41,706 | (1,349 | ) | 8,951,100 | (190,673 | ) | ||||||||||||||
Municipal securities | 1,412,152 | (29,175 | ) | 272,292 | (9,627 | ) | 1,684,444 | (38,802 | ) | ||||||||||||||
Asset-backed securities | 361,185 | (3,043 | ) | 178,924 | (29,092 | ) | 540,109 | (32,135 | ) | ||||||||||||||
Corporate debt | 3,567 | (15 | ) | 200 | — | 3,767 | (15 | ) | |||||||||||||||
Other securities | 790 | (11 | ) | 1,492 | (8 | ) | 2,282 | (19 | ) | ||||||||||||||
Total temporarily impaired securities | $ | 10,687,088 | $ | (221,568 | ) | $ | 494,614 | $ | (40,076 | ) | $ | 11,181,702 | $ | (261,644 | ) |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Gross gains on sales of securities | $ | 3,814 | $ | 3,391 | $ | 4,359 | $ | 3,391 | |||||||
Gross (losses) on sales of securities | (120 | ) | (2,659 | ) | (649 | ) | (2,659 | ) | |||||||
Net gain on sales of securities | $ | 3,694 | $ | 732 | $ | 3,710 | $ | 732 | |||||||
OTTI recognized in earnings | (3,559 | ) | (76 | ) | (3,583 | ) | (76 | ) | |||||||
Net security gains (losses) | $ | 135 | $ | 656 | $ | 127 | $ | 656 |
Deal Name | Par Value | Amortized Cost | Fair Value | Unrealized Loss (2) | Lowest Credit Rating (3) | # of Issuers Currently Performing/ Remaining (4) | Actual Deferrals and Defaults as a % of Original Collateral | Expected Defaults as a % of Remaining Performing Collateral | Excess Subordination (5) | ||||||||||||||||
MM Comm III | 4,509 | 4,308 | 3,581 | (727 | ) | BB+ | 5/8 | 5 | 5 | 39 | |||||||||||||||
Pre TSL IX (1) | 5,000 | 3,955 | 3,275 | (680 | ) | C | 27/37 | 16 | 8 | 11 | |||||||||||||||
Pre TSL XI (1) | 25,000 | 19,239 | 15,867 | (3,372 | ) | C | 42/51 | 14 | 8 | 14 | |||||||||||||||
Reg Diversified | 25,500 | 510 | 510 | — | D | 21/36 | 32 | 8 | — | ||||||||||||||||
Tropic III | 31,000 | 31,000 | 19,342 | (11,658 | ) | BB | 27/36 | 16 | 7 | 41 | |||||||||||||||
Total at June 30, 2017 | $ | 91,009 | $ | 59,012 | $ | 42,575 | $ | (16,437 | ) | ||||||||||||||||
Total at December 31, 2016 | $ | 137,197 | $ | 101,210 | $ | 76,003 | $ | (25,207 | ) |
(1) | Security was determined to have OTTI. As such, the amortized cost is net of recorded credit impairment. |
(2) | The majority of securities have been in a continuous loss position for 12 months or longer. |
(3) | For purposes of comparability, the lowest credit rating expressed is equivalent to Fitch ratings even where the lowest rating is based on another nationally recognized credit rating agency. |
(4) | Includes both banks and/or insurance companies. |
(5) | Excess subordination percentage represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Available-for-sale and other securities: | |||||||||||||||
Collateralized Debt Obligations | $ | 3,559 | $ | — | $ | 3,559 | $ | — | |||||||
Municipal Securities | — | 76 | 24 | 76 | |||||||||||
Total available-for-sale and other securities | $ | 3,559 | $ | 76 | $ | 3,583 | $ | 76 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | ||||||||||||
Balance, beginning of period | $ | 7,262 | $ | 18,368 | $ | 11,796 | $ | 18,368 | ||||||||
Reductions from sales | — | (8,613 | ) | (4,558 | ) | (8,613 | ) | |||||||||
Additional credit losses | 3,559 | 76 | 3,583 | 76 | ||||||||||||
Balance, end of period | $ | 10,821 | $ | 9,831 | $ | 10,821 | $ | 9,831 |
June 30, 2017 | December 31, 2016 | ||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||
Federal agencies: mortgage-backed securities: | |||||||||||||||
1 year or less | $ | — | $ | — | $ | — | $ | — | |||||||
After 1 year through 5 years | — | — | — | — | |||||||||||
After 5 years through 10 years | 70,527 | 70,355 | 41,261 | 40,791 | |||||||||||
After 10 years | 7,634,775 | 7,616,513 | 7,157,083 | 7,139,943 | |||||||||||
Total Federal agencies: mortgage-backed securities | 7,705,302 | 7,686,868 | 7,198,344 | 7,180,734 | |||||||||||
Other agencies: | |||||||||||||||
1 year or less | — | — | — | — | |||||||||||
After 1 year through 5 years | — | — | — | — | |||||||||||
After 5 years through 10 years | 376,837 | 376,750 | 398,341 | 399,452 | |||||||||||
After 10 years | 191,592 | 190,149 | 204,083 | 201,180 | |||||||||||
Total other agencies | 568,429 | 566,899 | 602,424 | 600,632 | |||||||||||
Total U.S. Government backed agencies | 8,273,731 | 8,253,767 | 7,800,768 | 7,781,366 | |||||||||||
Municipal securities: | |||||||||||||||
1 year or less | — | — | — | — | |||||||||||
After 1 year through 5 years | — | — | — | — | |||||||||||
After 5 years through 10 years | — | — | — | — | |||||||||||
After 10 years | 5,846 | 5,635 | 6,171 | 5,902 | |||||||||||
Total municipal securities | 5,846 | 5,635 | 6,171 | 5,902 | |||||||||||
Total held-to-maturity securities | $ | 8,279,577 | $ | 8,259,402 | $ | 7,806,939 | $ | 7,787,268 |
Unrealized | |||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Gross Gains | Gross Losses | Fair Value | |||||||||||
June 30, 2017 | |||||||||||||||
Federal agencies: | |||||||||||||||
Mortgage-backed securities | $ | 7,705,302 | $ | 17,950 | $ | (36,384 | ) | $ | 7,686,868 | ||||||
Other agencies | 568,429 | 1,374 | (2,904 | ) | 566,899 | ||||||||||
Total U.S. Government backed agencies | 8,273,731 | 19,324 | (39,288 | ) | 8,253,767 | ||||||||||
Municipal securities | 5,846 | — | (211 | ) | 5,635 | ||||||||||
Total held-to-maturity securities | $ | 8,279,577 | $ | 19,324 | $ | (39,499 | ) | $ | 8,259,402 |
Unrealized | |||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Gross Gains | Gross Losses | Fair Value | |||||||||||
December 31, 2016 | |||||||||||||||
Federal agencies: | |||||||||||||||
Mortgage-backed securities | $ | 7,198,344 | $ | 20,883 | $ | (38,493 | ) | $ | 7,180,734 | ||||||
Other agencies | 602,424 | 1,690 | (3,482 | ) | 600,632 | ||||||||||
Total U.S. Government backed agencies | 7,800,768 | 22,573 | (41,975 | ) | 7,781,366 | ||||||||||
Municipal securities | 6,171 | — | (269 | ) | 5,902 | ||||||||||
Total held-to-maturity securities | $ | 7,806,939 | $ | 22,573 | $ | (42,244 | ) | $ | 7,787,268 |
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||||||
(dollar amounts in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||
June 30, 2017 | |||||||||||||||||||||||
Federal agencies: | |||||||||||||||||||||||
Mortgage-backed securities | $ | 4,606,283 | $ | (31,348 | ) | $ | 160,437 | $ | (5,036 | ) | $ | 4,766,720 | $ | (36,384 | ) | ||||||||
Other agencies | 375,023 | (2,904 | ) | — | — | 375,023 | (2,904 | ) | |||||||||||||||
Total U.S. Government backed securities | 4,981,306 | (34,252 | ) | 160,437 | (5,036 | ) | 5,141,743 | (39,288 | ) | ||||||||||||||
Municipal securities | 5,635 | (211 | ) | — | — | 5,635 | (211 | ) | |||||||||||||||
Total temporarily impaired securities | $ | 4,986,941 | $ | (34,463 | ) | $ | 160,437 | $ | (5,036 | ) | $ | 5,147,378 | $ | (39,499 | ) |
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||||||
(dollar amounts in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||
December 31, 2016 | |||||||||||||||||||||||
Federal agencies: | |||||||||||||||||||||||
Mortgage-backed securities | $ | 2,855,360 | $ | (31,470 | ) | $ | 186,226 | $ | (7,023 | ) | $ | 3,041,586 | $ | (38,493 | ) | ||||||||
Other agencies | 413,207 | (3,482 | ) | — | — | 413,207 | (3,482 | ) | |||||||||||||||
Total U.S. Government backed securities | 3,268,567 | (34,952 | ) | 186,226 | (7,023 | ) | 3,454,793 | (41,975 | ) | ||||||||||||||
Municipal securities | 5,902 | (269 | ) | — | — | 5,902 | (269 | ) | |||||||||||||||
Total temporarily impaired securities | $ | 3,274,469 | $ | (35,221 | ) | $ | 186,226 | $ | (7,023 | ) | $ | 3,460,695 | $ | (42,244 | ) |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Residential mortgage loans sold with servicing retained | $ | 798,399 | $ | 715,589 | $ | 1,645,752 | $ | 1,348,055 | |||||||
Pretax gains resulting from above loan sales (1) | 16,943 | 18,618 | 39,133 | 32,731 |
(1) | Recorded in mortgage banking income. |
Fair Value Method: | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Fair value, beginning of period | $ | 13,307 | $ | 14,819 | $ | 13,747 | $ | 17,585 | |||||||
Change in fair value during the period due to: | |||||||||||||||
Time decay (1) | (217 | ) | (245 | ) | (448 | ) | (518 | ) | |||||||
Payoffs (2) | (217 | ) | (465 | ) | (581 | ) | (969 | ) | |||||||
Changes in valuation inputs or assumptions (3) | (345 | ) | (1,004 | ) | (190 | ) | (2,993 | ) | |||||||
Fair value, end of period: | $ | 12,528 | $ | 13,105 | $ | 12,528 | $ | 13,105 | |||||||
Weighted-average life (years) | 5.7 | 5.1 | 5.7 | 5.1 |
(1) | Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns. |
(2) | Represents decrease in value associated with loans that paid off during the period. |
(3) | Represents change in value resulting primarily from market-driven changes in interest rates and prepayment speeds. |
Amortization Method: | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Carrying value, beginning of period | $ | 177,812 | $ | 127,275 | $ | 172,466 | $ | 143,133 | |||||||
New servicing assets created | 8,218 | 7,277 | 17,853 | 13,386 | |||||||||||
Impairment (charge) / recovery | (2,806 | ) | (7,295 | ) | (1,007 | ) | (23,635 | ) | |||||||
Amortization and other | (6,733 | ) | (5,965 | ) | (12,821 | ) | (11,592 | ) | |||||||
Carrying value, end of period | $ | 176,491 | $ | 121,292 | $ | 176,491 | $ | 121,292 | |||||||
Fair value, end of period | $ | 177,138 | $ | 121,464 | $ | 177,138 | $ | 121,464 | |||||||
Weighted-average life (years) | 7.1 | 6.1 | 7.1 | 6.1 |
June 30, 2017 | December 31, 2016 | ||||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||||
(dollar amounts in thousands) | Actual | 10% adverse change | 20% adverse change | Actual | 10% adverse change | 20% adverse change | |||||||||||||||
Constant prepayment rate (annualized) | 11.40 | % | $ | (476 | ) | $ | (919 | ) | 10.90 | % | $ | (501 | ) | $ | (970 | ) | |||||
Spread over forward interest rate swap rates | 876 bps | (463 | ) | (874 | ) | 536 bps | (454 | ) | (879 | ) |
June 30, 2017 | December 31, 2016 | ||||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||||
(dollar amounts in thousands) | Actual | 10% adverse change | 20% adverse change | Actual | 10% adverse change | 20% adverse change | |||||||||||||||
Constant prepayment rate (annualized) | 8.20 | % | $ | (4,731 | ) | $ | (9,191 | ) | 7.80 | % | $ | (4,510 | ) | $ | (8,763 | ) | |||||
Spread over forward interest rate swap rates | 1,084 bps | (6,566 | ) | (12,374 | ) | 1,173 bps | (5,259 | ) | (10,195 | ) |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Carrying value, beginning of period | $ | 15,159 | $ | 7,029 | $ | 18,285 | $ | 8,771 | |||||||
Amortization and other | (2,635 | ) | (1,571 | ) | (5,761 | ) | (3,313 | ) | |||||||
Carrying value, end of period | $ | 12,524 | $ | 5,458 | $ | 12,524 | $ | 5,458 | |||||||
Fair value, end of period | $ | 12,571 | $ | 5,551 | $ | 12,571 | $ | 5,551 | |||||||
Weighted-average contractual life (years) | 3.8 | 3.0 | 3.8 | 3.0 |
June 30, 2017 | December 31, 2016 | ||||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||||
(dollar amounts in thousands) | Actual | 10% adverse change | 20% adverse change | Actual | 10% adverse change | 20% adverse change | |||||||||||||||
Constant prepayment rate (annualized) | 19.91 | % | $ | (688 | ) | $ | (1,391 | ) | 19.98 | % | $ | (1,047 | ) | $ | (2,026 | ) | |||||
Spread over forward interest rate swap rates | 500 bps | (17 | ) | (34 | ) | 500 bps | (26 | ) | (53 | ) |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
SBA loans sold with servicing retained | $ | 87,705 | $ | 58,629 | $ | 165,377 | $ | 104,518 | |||||||
Pretax gains resulting from above loan sales (1) | 7,109 | 4,662 | 12,927 | 8,183 |
(1) | Recorded in gain on sale of loans. |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Carrying value, beginning of period | $ | 21,399 | $ | 19,526 | $ | 21,080 | $ | 19,747 | |||||||
New servicing assets created | 4,121 | 1,868 | 5,596 | 3,380 | |||||||||||
Amortization and other | (2,407 | ) | (1,782 | ) | (3,563 | ) | (3,515 | ) | |||||||
Carrying value, end of period | $ | 23,113 | $ | 19,612 | $ | 23,113 | $ | 19,612 | |||||||
Fair value, end of period | $ | 26,853 | $ | 23,823 | $ | 26,853 | $ | 23,823 | |||||||
Weighted-average life (years) | 3.3 | 3.3 | 3.3 | 3.3 |
June 30, 2017 | December 31, 2016 | ||||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||||
(dollar amounts in thousands) | Actual | 10% adverse change | 20% adverse change | Actual | 10% adverse change | 20% adverse change | |||||||||||||||
Constant prepayment rate (annualized) | 7.50 | % | $ | (363 | ) | $ | (721 | ) | 7.40 | % | $ | (324 | ) | $ | (644 | ) | |||||
Discount rate | 15.00 | (721 | ) | (1,411 | ) | 15.00 | (1,270 | ) | (1,870 | ) |
Three Months Ended June 30, 2017 | |||||||||||
Tax (Expense) | |||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 2,478 | $ | (876 | ) | $ | 1,602 | ||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 53,285 | (18,811 | ) | 34,474 | |||||||
Less: Reclassification adjustment for net losses (gains) included in net income | 3,988 | (1,410 | ) | 2,578 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 59,751 | (21,097 | ) | 38,654 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | — | — | — | ||||||||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | 1,220 | (427 | ) | 793 | |||||||
Less: Reclassification adjustment for net (gains) losses included in net income | 427 | (150 | ) | 277 | |||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 1,647 | (577 | ) | 1,070 | |||||||
Net change in pension and other post-retirement obligations | 1,198 | (419 | ) | 779 | |||||||
Total other comprehensive income (loss) | $ | 62,596 | $ | (22,093 | ) | $ | 40,503 |
Three Months Ended June 30, 2016 | |||||||||||
Tax (Expense) | |||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 1,032 | $ | (365 | ) | $ | 667 | ||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 50,278 | (18,234 | ) | 32,044 | |||||||
Less: Reclassification adjustment for net losses (gains) included in net income | (2,294 | ) | 811 | (1,483 | ) | ||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 49,016 | (17,788 | ) | 31,228 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 66 | (24 | ) | 42 | |||||||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | 1,989 | (696 | ) | 1,293 | |||||||
Less: Reclassification adjustment for net (gains) losses included in net income | (248 | ) | 89 | (159 | ) | ||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 1,741 | (607 | ) | 1,134 | |||||||
Net change in pension and other post-retirement obligations | 1,293 | (453 | ) | 840 | |||||||
Total other comprehensive income (loss) | $ | 52,116 | $ | (18,872 | ) | $ | 33,244 |
Six Months Ended June 30, 2017 | |||||||||||
Tax (expense) | |||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 3,288 | $ | (1,162 | ) | $ | 2,126 | ||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 62,282 | (21,607 | ) | 40,675 | |||||||
Less: Reclassification adjustment for net losses (gains) included in net income | 9,862 | (3,487 | ) | 6,375 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 75,432 | (26,256 | ) | 49,176 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | — | — | — | ||||||||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | (611 | ) | 214 | (397 | ) | ||||||
Less: Reclassification adjustment for net (gains) losses included in net income | 987 | (346 | ) | 641 | |||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 376 | (132 | ) | 244 | |||||||
Net change in pension and other post-retirement obligations | 1,906 | (667 | ) | 1,239 | |||||||
Total other comprehensive income (loss) | $ | 77,714 | $ | (27,055 | ) | $ | 50,659 |
Six Months Ended June 30, 2016 | |||||||||||
Tax (expense) | |||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | (2,602 | ) | $ | 920 | $ | (1,682 | ) | |||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 130,746 | (46,919 | ) | 83,827 | |||||||
Less: Reclassification adjustment for net losses (gains) included in net income | (2,758 | ) | 975 | (1,783 | ) | ||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 125,386 | (45,024 | ) | 80,362 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 170 | (60 | ) | 110 | |||||||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | 16,218 | (5,676 | ) | 10,542 | |||||||
Less: Reclassification adjustment for net (gains) losses included in net income | (892 | ) | 313 | (579 | ) | ||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 15,326 | (5,363 | ) | 9,963 | |||||||
Net change in pension and other post-retirement obligations | 2,586 | (905 | ) | 1,681 | |||||||
Total other comprehensive income (loss) | $ | 143,468 | $ | (51,352 | ) | $ | 92,116 |
(dollar amounts in thousands) | Unrealized gains and (losses) on debt securities (1) | Unrealized gains and (losses) on equity securities | Unrealized gains and (losses) on cash flow hedging derivatives | Unrealized gains (losses) for pension and other post- retirement obligations | Total | ||||||||||||||
December 31, 2015 | $ | 8,361 | $ | 176 | $ | (3,948 | ) | $ | (230,747 | ) | $ | (226,158 | ) | ||||||
Other comprehensive income before reclassifications | 82,145 | 110 | 10,542 | — | 92,797 | ||||||||||||||
Amounts reclassified from accumulated OCI to earnings | (1,783 | ) | — | (579 | ) | 1,681 | (681 | ) | |||||||||||
Period change | 80,362 | 110 | 9,963 | 1,681 | 92,116 | ||||||||||||||
June 30, 2016 | $ | 88,723 | $ | 286 | $ | 6,015 | $ | (229,066 | ) | $ | (134,042 | ) | |||||||
December 31, 2016 | $ | (192,764 | ) | $ | 287 | $ | (2,634 | ) | $ | (205,905 | ) | $ | (401,016 | ) | |||||
Other comprehensive income before reclassifications | 42,801 | — | (397 | ) | — | 42,404 | |||||||||||||
Amounts reclassified from accumulated OCI to earnings | 6,375 | — | 641 | 1,239 | 8,255 | ||||||||||||||
Period change | 49,176 | — | 244 | 1,239 | 50,659 | ||||||||||||||
June 30, 2017 | $ | (143,588 | ) | $ | 287 | $ | (2,390 | ) | $ | (204,666 | ) | $ | (350,357 | ) |
(1) | Amounts at June 30, 2017 and December 31, 2016 include $98 million and $82 million, respectively, of net unrealized gains on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The net unrealized gains will be recognized in earnings over the remaining life of the security using the effective interest method. |
Reclassifications out of accumulated OCI | |||||||||
Accumulated OCI components | Amounts reclassified from accumulated OCI | Location of net gain (loss) reclassified from accumulated OCI into earnings | |||||||
Three Months Ended | |||||||||
(dollar amounts in thousands) | June 30, 2017 | June 30, 2016 | |||||||
Gains (losses) on debt securities: | |||||||||
Amortization of unrealized gains (losses) | $ | (2,284 | ) | $ | 740 | Interest income - held-to-maturity securities - taxable | |||
Realized gain (loss) on sale of securities | 1,855 | 1,630 | Noninterest income - net gains (losses) on sale of securities | ||||||
OTTI recorded | (3,559 | ) | (76 | ) | Noninterest income - net gains (losses) on sale of securities | ||||
(3,988 | ) | 2,294 | Total before tax | ||||||
1,410 | (811 | ) | Tax (expense) benefit | ||||||
$ | (2,578 | ) | $ | 1,483 | Net of tax | ||||
Gains (losses) on cash flow hedging relationships: | |||||||||
Interest rate contracts | $ | (427 | ) | $ | 248 | Interest income - loans and leases | |||
Interest rate contracts | — | — | Noninterest income - other income | ||||||
(427 | ) | 248 | Total before tax | ||||||
150 | (89 | ) | Tax (expense) benefit | ||||||
$ | (277 | ) | $ | 159 | Net of tax | ||||
Amortization of defined benefit pension and post-retirement items: | |||||||||
Actuarial gains (losses) | $ | (1,690 | ) | $ | (1,785 | ) | Noninterest expense - personnel costs | ||
Prior service credit | 492 | 492 | Noninterest expense - personnel costs | ||||||
(1,198 | ) | (1,293 | ) | Total before tax | |||||
419 | 453 | Tax (expense) benefit | |||||||
$ | (779 | ) | $ | (840 | ) | Net of tax |
Reclassifications out of accumulated OCI | |||||||||
Accumulated OCI components | Amounts reclassified from accumulated OCI | Location of net gain (loss) reclassified from accumulated OCI into earnings | |||||||
Six Months Ended | |||||||||
(dollar amounts in thousands) | June 30, 2017 | June 30, 2016 | |||||||
Gains (losses) on debt securities: | |||||||||
Amortization of unrealized gains (losses) | $ | (5,890 | ) | $ | 1,204 | Interest income - held-to-maturity securities - taxable | |||
Realized gain (loss) on sale of securities | (389 | ) | 1,630 | Noninterest income - net gains (losses) on sale of securities | |||||
OTTI recorded | (3,583 | ) | (76 | ) | Noninterest income - net gains (losses) on sale of securities | ||||
(9,862 | ) | 2,758 | Total before tax | ||||||
3,487 | (975 | ) | Tax (expense) benefit | ||||||
$ | (6,375 | ) | $ | 1,783 | Net of tax | ||||
Gains (losses) on cash flow hedging relationships: | |||||||||
Interest rate contracts | $ | (987 | ) | $ | 893 | Interest income - loans and leases | |||
Interest rate contracts | — | (1 | ) | Noninterest income - other income | |||||
(987 | ) | 892 | Total before tax | ||||||
346 | (313 | ) | Tax (expense) benefit | ||||||
$ | (641 | ) | $ | 579 | Net of tax | ||||
Amortization of defined benefit pension and post-retirement items: | |||||||||
Actuarial gains (losses) | $ | (2,890 | ) | $ | (3,570 | ) | Noninterest expense - personnel costs | ||
Prior service credit | 984 | 984 | Noninterest expense - personnel costs | ||||||
(1,906 | ) | (2,586 | ) | Total before tax | |||||
667 | 905 | Tax (expense) benefit | |||||||
$ | (1,239 | ) | $ | (1,681 | ) | Net of tax |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands, except per share amounts) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Basic earnings per common share: | |||||||||||||||
Net income | $ | 271,741 | $ | 174,540 | $ | 479,835 | $ | 345,854 | |||||||
Preferred stock dividends | (18,889 | ) | (19,874 | ) | (37,767 | ) | (27,872 | ) | |||||||
Net income available to common shareholders | $ | 252,852 | $ | 154,666 | $ | 442,068 | $ | 317,982 | |||||||
Average common shares issued and outstanding | 1,088,934 | 798,167 | 1,087,654 | 796,961 | |||||||||||
Basic earnings per common share | $ | 0.23 | $ | 0.19 | $ | 0.41 | $ | 0.40 | |||||||
Diluted earnings per common share: | |||||||||||||||
Net income available to common shareholders | $ | 252,852 | $ | 154,666 | $ | 442,068 | $ | 317,982 | |||||||
Effect of assumed preferred stock conversion | — | — | — | — | |||||||||||
Net income applicable to diluted earnings per share | $ | 252,852 | $ | 154,666 | $ | 442,068 | $ | 317,982 | |||||||
Average common shares issued and outstanding | 1,088,934 | 798,167 | 1,087,654 | 796,961 | |||||||||||
Dilutive potential common shares: | |||||||||||||||
Stock options and restricted stock units and awards | 16,329 | 9,785 | 17,734 | 10,085 | |||||||||||
Shares held in deferred compensation plans | 3,108 | 2,282 | 3,030 | 2,178 | |||||||||||
Other | 156 | 137 | 154 | 136 | |||||||||||
Dilutive potential common shares: | 19,593 | 12,204 | 20,918 | 12,399 | |||||||||||
Total diluted average common shares issued and outstanding | 1,108,527 | 810,371 | 1,108,572 | 809,360 | |||||||||||
Diluted earnings per common share | $ | 0.23 | $ | 0.19 | $ | 0.40 | $ | 0.39 |
Pension Benefits | Post-Retirement Benefits | ||||||||||||||||||
Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||||||
Service cost | $ | 640 | $ | 1,025 | $ | 21 | $ | — | |||||||||||
Interest cost | 7,478 | 6,748 | 99 | 54 | |||||||||||||||
Expected return on plan assets | (13,803 | ) | (10,224 | ) | — | — | |||||||||||||
Amortization of prior service cost | — | — | (492 | ) | (492 | ) | |||||||||||||
Amortization of (gain) loss | 1,747 | 1,865 | (54 | ) | (72 | ) | |||||||||||||
Settlements | 2,500 | 3,400 | — | — | |||||||||||||||
Net periodic (benefit) cost | $ | (1,438 | ) | (1 | ) | $ | 2,814 | $ | (426 | ) | (1 | ) | $ | (510 | ) |
(1) | Includes expense associated with FirstMerit plans. |
Pension Benefits | Post-Retirement Benefits | ||||||||||||||||||
Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||||||
Service cost | $ | 1,280 | $ | 2,050 | $ | 43 | $ | — | |||||||||||
Interest cost | 14,955 | 13,496 | 198 | 109 | |||||||||||||||
Expected return on plan assets | (27,606 | ) | (20,447 | ) | — | — | |||||||||||||
Amortization of prior service cost | — | — | (984 | ) | (984 | ) | |||||||||||||
Amortization of (gain) loss | 3,494 | 3,729 | (109 | ) | (144 | ) | |||||||||||||
Settlements | 5,000 | 6,800 | — | — | |||||||||||||||
Net periodic (benefit) cost | $ | (2,877 | ) | (1 | ) | $ | 5,628 | $ | (852 | ) | (1 | ) | $ | (1,019 | ) |
(1) | Includes expense associated with FirstMerit plans. |
Fair Value Measurements at Reporting Date Using | Netting Adjustments (1) | June 30, 2017 | |||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Assets | |||||||||||||||||||
Loans held for sale | $ | — | $ | 654,087 | $ | — | $ | — | $ | 654,087 | |||||||||
Loans held for investment | — | 59,886 | 43,855 | — | 103,741 | ||||||||||||||
Trading account securities: | |||||||||||||||||||
Federal agencies: Other agencies | — | 6,868 | — | — | 6,868 | ||||||||||||||
Municipal securities | — | 323 | — | — | 323 | ||||||||||||||
Other securities | 86,560 | 1,016 | — | — | 87,576 | ||||||||||||||
86,560 | 8,207 | — | — | 94,767 | |||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
U.S. Treasury securities | 10,644 | — | — | — | 10,644 | ||||||||||||||
Federal agencies: Mortgage-backed | — | 10,624,055 | — | — | 10,624,055 | ||||||||||||||
Federal agencies: Other agencies | — | 100,291 | — | — | 100,291 | ||||||||||||||
Municipal securities | — | 440,493 | 2,872,007 | — | 3,312,500 | ||||||||||||||
Asset-backed securities | — | 552,224 | 42,575 | — | 594,799 | ||||||||||||||
Corporate debt | — | 144,035 | — | — | 144,035 | ||||||||||||||
Other securities | 12,485 | 4,026 | — | — | 16,511 | ||||||||||||||
23,129 | 11,865,124 | 2,914,582 | — | 14,802,835 | |||||||||||||||
MSRs | — | — | 12,528 | — | 12,528 | ||||||||||||||
Derivative assets | — | 325,736 | 9,227 | (144,951 | ) | 190,012 | |||||||||||||
Liabilities | |||||||||||||||||||
Derivative liabilities | — | 284,796 | 6,049 | (212,487 | ) | 78,358 | |||||||||||||
Short-term borrowings | 4,580 | — | — | — | 4,580 |
Fair Value Measurements at Reporting Date Using | Netting Adjustments (1) | December 31, 2016 | |||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Assets | |||||||||||||||||||
Loans held for sale | $ | — | $ | 438,224 | $ | — | $ | — | $ | 438,224 | |||||||||
Loans held for investment | — | 34,439 | 47,880 | — | 82,319 | ||||||||||||||
Trading account securities: | |||||||||||||||||||
Municipal securities | — | 1,148 | — | — | 1,148 | ||||||||||||||
Other securities | 132,147 | — | — | — | 132,147 | ||||||||||||||
132,147 | 1,148 | — | — | 133,295 | |||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
U.S. Treasury securities | 5,497 | — | — | — | 5,497 | ||||||||||||||
Federal agencies: Mortgage-backed | — | 10,673,342 | — | — | 10,673,342 | ||||||||||||||
Federal agencies: Other agencies | — | 73,542 | — | — | 73,542 | ||||||||||||||
Municipal securities | — | 452,013 | 2,798,044 | — | 3,250,057 | ||||||||||||||
Asset-backed securities | — | 717,478 | 76,003 | — | 793,481 | ||||||||||||||
Corporate debt | — | 198,683 | — | — | 198,683 | ||||||||||||||
Other securities | 16,588 | 3,943 | — | — | 20,531 | ||||||||||||||
22,085 | 12,119,001 | 2,874,047 | — | 15,015,133 | |||||||||||||||
MSRs | — | — | 13,747 | — | 13,747 | ||||||||||||||
Derivative assets | — | 414,412 | 5,747 | (181,940 | ) | 238,219 | |||||||||||||
Liabilities | |||||||||||||||||||
Derivative liabilities | — | 362,777 | 7,870 | (272,361 | ) | 98,286 | |||||||||||||
Short-term borrowings | 474 | — | — | — | 474 |
(1) | Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash collateral held or placed with the same counterparties. |
Level 3 Fair Value Measurements Three Months Ended June 30, 2017 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Loans held for investment | ||||||||||||||
Opening balance | $ | 13,307 | $ | 2,694 | $ | 2,867,652 | $ | 59,492 | $ | 44,219 | |||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||
Transfers out of Level 3 (1) | — | (2,124 | ) | — | — | — | |||||||||||||
Total gains/losses for the period: | |||||||||||||||||||
Included in earnings | (779 | ) | 2,608 | (1,180 | ) | (3,557 | ) | 1,493 | |||||||||||
Included in OCI | — | — | 12,419 | 5,598 | — | ||||||||||||||
Purchases/originations | — | — | 114,944 | — | — | ||||||||||||||
Sales | — | — | — | (18,594 | ) | — | |||||||||||||
Repayments | — | — | — | — | (1,857 | ) | |||||||||||||
Issues | — | — | — | — | — | ||||||||||||||
Settlements | — | — | (121,828 | ) | (364 | ) | — | ||||||||||||
Closing balance | $ | 12,528 | $ | 3,178 | $ | 2,872,007 | $ | 42,575 | $ | 43,855 | |||||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | (779 | ) | $ | 2,608 | $ | 12,419 | $ | 5,598 | $ | — |
Level 3 Fair Value Measurements Three Months Ended June 30, 2016 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Loans held for investment | ||||||||||||||
Opening balance | $ | 14,819 | $ | 10,347 | $ | 2,281,743 | $ | 94,329 | $ | 1,216 | |||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||
Transfers out of Level 3 (1) | — | (2,508 | ) | — | — | — | |||||||||||||
Total gains/losses for the period: | |||||||||||||||||||
Included in earnings | (1,714 | ) | 4,912 | — | 2 | — | |||||||||||||
Included in OCI | — | — | 7,486 | 5,842 | — | ||||||||||||||
Purchases/originations | — | — | 46,457 | — | — | ||||||||||||||
Sales | — | — | (36,657 | ) | (27,794 | ) | — | ||||||||||||
Repayments | — | — | — | — | (291 | ) | |||||||||||||
Issues | — | — | — | — | — | ||||||||||||||
Settlements | — | — | (61,054 | ) | (1,000 | ) | — | ||||||||||||
Closing balance | $ | 13,105 | $ | 12,751 | $ | 2,237,975 | $ | 71,379 | $ | 925 | |||||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | (1,714 | ) | $ | 4,912 | $ | — | $ | 2 | $ | — |
(1) | Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that were transferred to loans held for sale, which are classified as Level 2. |
Level 3 Fair Value Measurements Six Months Ended June 30, 2017 | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Loans held for investment | |||||||||||||||
Opening balance | $ | 13,747 | $ | (2,123 | ) | $ | 2,798,044 | $ | 76,003 | $ | 47,880 | |||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||
Transfers out of Level 3 (1) | — | (2,457 | ) | — | — | — | ||||||||||||||
Total gains/losses for the period: | ||||||||||||||||||||
Included in earnings | (1,219 | ) | 7,758 | (2,975 | ) | (3,528 | ) | 1,430 | ||||||||||||
Included in OCI | — | — | 32,894 | 8,769 | — | |||||||||||||||
Purchases/originations | — | — | 247,609 | — | — | |||||||||||||||
Sales | — | — | — | (37,728 | ) | — | ||||||||||||||
Repayments | — | — | — | — | (5,455 | ) | ||||||||||||||
Issues | — | — | — | — | — | |||||||||||||||
Settlements | — | — | (203,565 | ) | (941 | ) | — | |||||||||||||
Closing balance | $ | 12,528 | $ | 3,178 | $ | 2,872,007 | $ | 42,575 | $ | 43,855 | ||||||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | (1,219 | ) | $ | 7,758 | $ | 32,894 | $ | 8,769 | $ | — |
Level 3 Fair Value Measurements Six Months Ended June 30, 2016 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Loans held for investment | ||||||||||||||
Opening balance | $ | 17,585 | $ | 6,056 | $ | 2,095,551 | $ | 100,337 | $ | 1,748 | |||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||
Transfers out of Level 3 (1) | — | (3,423 | ) | — | — | — | |||||||||||||
Total gains/losses for the period: | |||||||||||||||||||
Included in earnings | (4,480 | ) | 10,118 | — | 2 | — | |||||||||||||
Included in OCI | — | — | 19,326 | 674 | — | ||||||||||||||
Purchases/originations | — | — | 283,907 | — | — | ||||||||||||||
Sales | — | — | (36,657 | ) | (27,794 | ) | — | ||||||||||||
Repayments | — | — | — | — | (823 | ) | |||||||||||||
Issues | — | — | — | — | — | ||||||||||||||
Settlements | — | — | (124,152 | ) | (1,840 | ) | — | ||||||||||||
Closing balance | $ | 13,105 | $ | 12,751 | $ | 2,237,975 | $ | 71,379 | $ | 925 | |||||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | (4,480 | ) | $ | 10,218 | $ | — | $ | 2 | $ | — |
(1) | Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that were transferred to loans held for sale, which are classified as Level 2. |
Level 3 Fair Value Measurements Three Months Ended June 30, 2017 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Loans held for investment | ||||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income | $ | (779 | ) | $ | 2,608 | $ | — | $ | — | $ | — | ||||||||
Securities gains (losses) | — | — | (1,180 | ) | (3,557 | ) | — | ||||||||||||
Interest and fee income | — | — | — | — | — | ||||||||||||||
Noninterest income | — | — | — | — | 1,493 | ||||||||||||||
Other expense | — | — | — | — | — | ||||||||||||||
Total | $ | (779 | ) | $ | 2,608 | $ | (1,180 | ) | $ | (3,557 | ) | $ | 1,493 |
Level 3 Fair Value Measurements Three Months Ended June 30, 2016 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Loans held for investment | ||||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income | $ | (1,714 | ) | $ | 4,912 | $ | — | $ | — | $ | — | ||||||||
Securities gains (losses) | — | — | — | — | — | ||||||||||||||
Interest and fee income | — | — | — | — | — | ||||||||||||||
Noninterest income | — | — | — | 2 | — | ||||||||||||||
Other expense | — | — | — | — | — | ||||||||||||||
Total | $ | (1,714 | ) | $ | 4,912 | $ | — | $ | 2 | $ | — |
Level 3 Fair Value Measurements Six Months Ended June 30, 2017 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Loans held for investment | ||||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income | $ | (1,219 | ) | $ | 7,758 | $ | — | $ | — | $ | — | ||||||||
Securities gains (losses) | — | — | (2,975 | ) | (3,528 | ) | — | ||||||||||||
Interest and fee income | — | — | — | — | — | ||||||||||||||
Noninterest income | — | — | — | — | 1,430 | ||||||||||||||
Other expense | — | — | — | — | — | ||||||||||||||
Total | $ | (1,219 | ) | $ | 7,758 | $ | (2,975 | ) | $ | (3,528 | ) | $ | 1,430 |
Level 3 Fair Value Measurements Six Months Ended June 30, 2016 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Loans held for investment | ||||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income | $ | (4,480 | ) | $ | 10,118 | $ | — | $ | — | $ | — | ||||||||
Securities gains (losses) | — | — | — | — | — | ||||||||||||||
Interest and fee income | — | — | — | — | — | ||||||||||||||
Noninterest income | — | — | — | 2 | — | ||||||||||||||
Other expense | — | — | — | — | — | ||||||||||||||
Total | $ | (4,480 | ) | $ | 10,118 | $ | — | $ | 2 | $ | — |
June 30, 2017 | |||||||||||||||||||||||
Total Loans | Loans that are 90 or more days past due | ||||||||||||||||||||||
(dollar amounts in thousands) | Fair value carrying amount | Aggregate unpaid principal | Difference | Fair value carrying amount | Aggregate unpaid principal | Difference | |||||||||||||||||
Assets | |||||||||||||||||||||||
Loans held for sale | $ | 654,087 | $ | 628,684 | $ | 25,403 | $ | 72 | $ | 72 | $ | — | |||||||||||
Loans held for investment | 103,741 | 113,114 | (9,373 | ) | 13,039 | 15,447 | (2,408 | ) |
December 31, 2016 | |||||||||||||||||||||||
Total Loans | Loans that are 90 or more days past due | ||||||||||||||||||||||
(dollar amounts in thousands) | Fair value carrying amount | Aggregate unpaid principal | Difference | Fair value carrying amount | Aggregate unpaid principal | Difference | |||||||||||||||||
Assets | |||||||||||||||||||||||
Loans held for sale | $ | 438,224 | $ | 433,760 | $ | 4,464 | $ | — | $ | — | $ | — | |||||||||||
Loans held for investment | 82,319 | 91,998 | (9,679 | ) | 8,408 | 11,082 | (2,674 | ) |
Net gains (losses) from fair value changes | Net gains (losses) from fair value changes | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | ||||||||||||
Assets | ||||||||||||||||
Loans held for sale | $ | 4,551 | $ | 8,870 | $ | 13,616 | $ | 13,519 | ||||||||
Loans held for investment | 1,493 | — | 1,430 | — |
Fair Value Measurements Using | |||||||||||||||||||
(dollar amounts in thousands) | Fair Value | Quoted Prices In Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Other Unobservable Inputs (Level 3) | Total Gains/(Losses) Six Months Ended June 30, 2017 | ||||||||||||||
MSRs | $ | 175,454 | $ | — | $ | — | $ | 175,454 | $ | (1,006 | ) | ||||||||
Impaired loans | 36,118 | — | — | 36,118 | (3,123 | ) | |||||||||||||
Other real estate owned | 43,816 | — | — | 43,816 | 1,742 |
Quantitative Information about Level 3 Fair Value Measurements at June 30, 2017 | |||||||||
(dollar amounts in thousands) | Fair Value | Valuation Technique | Significant Unobservable Input | Range (Weighted Average) | |||||
Measured at fair value on a recurring basis: | |||||||||
MSRs | $ | 12,528 | Discounted cash flow | Constant prepayment rate | 8.0% - 31.0% (11%) | ||||
Spread over forward interest rate swap rates | 3.0% - 10.0% (8.8%) | ||||||||
Derivative assets | 9,227 | Consensus Pricing | Net market price | -9.2% - 31.7% (1.8%) | |||||
Derivative liabilities | 6,049 | Estimated Pull through % | 9.0% - 99.0% (78.0%) | ||||||
Municipal securities | 2,872,007 | Discounted cash flow | Discount rate | 0.0% - 10.3% (3.9%) | |||||
Cumulative default | 0.0% - 38.4% (2.7%) | ||||||||
Loss given default | 5.0% - 80.0% (23.2%) | ||||||||
Asset-backed securities | 42,575 | Discounted cash flow | Discount rate | 6.9% - 12.3% (7.0%) | |||||
Cumulative prepayment rate | 0.0% - 72% (8.2%) | ||||||||
Cumulative default | 0.7% - 100% (10.2%) | ||||||||
Loss given default | 85% - 100% (96.6%) | ||||||||
Cure given deferral | 0.0% - 75% (37.7%) | ||||||||
Loans held for investment | 43,855 | Discounted cash flow | Discount rate | 7.0% - 17.6% (6.6%) | |||||
Measured at fair value on a nonrecurring basis: | |||||||||
MSRs | 175,454 | Discounted cash flow | Constant prepayment rate | 7.0% - 21.0% (8%) | |||||
Spread over forward interest rate swap rates | 3.0% - 20.0% 10.8%) | ||||||||
Impaired loans | 36,118 | Appraisal value | NA | NA | |||||
Other real estate owned | 43,816 | Appraisal value | NA | NA |
Quantitative Information about Level 3 Fair Value Measurements at December 31, 2016 | |||||||||
(dollar amounts in thousands) | Fair Value | Valuation Technique | Significant Unobservable Input | Range (Weighted Average) | |||||
Measured at fair value on a recurring basis: | |||||||||
MSRs | $ | 13,747 | Discounted cash flow | Constant prepayment rate | 5.63% - 34.4% (10.9%) | ||||
Spread over forward interest rate swap rates | 3.0% - 9.2% (5.4%) | ||||||||
Derivative assets | 5,747 | Consensus Pricing | Net market price | -7.1% - 25.4% (1.1%) | |||||
Derivative liabilities | 7,870 | Estimated Pull through % | 8.1% - 99.8% (76.9%) | ||||||
Municipal securities | 2,798,044 | Discounted cash flow | Discount rate | 0.0% - 10.0% (3.6%) | |||||
Cumulative default | 0.3% - 37.8% (4.0%) | ||||||||
Loss given default | 5.0% - 80.0% (24.1%) | ||||||||
Asset-backed securities | 76,003 | Discounted cash flow | Discount rate | 5.0% - 12.0% (6.3%) | |||||
Cumulative prepayment rate | 0.0% - 73% (6.5%) | ||||||||
Cumulative default | 1.1% - 100% (11.2%) | ||||||||
Loss given default | 85% - 100% (96.3%) | ||||||||
Cure given deferral | 0.0% - 75.0% (36.2%) | ||||||||
Loans held for investment | 47,880 | Discounted cash flow | Constant prepayment rate | 5.4% - 16.2% (5.6%) | |||||
Measured at fair value on a nonrecurring basis: | |||||||||
MSRs | 171,309 | Discounted cash flow | Constant prepayment rate | 5.57% - 30.4% (7.8%) | |||||
Spread over forward interest rate swap rates | 4.2% - 20.0% (11.7%) | ||||||||
Impaired loans | 53,818 | Appraisal value | NA | NA | |||||
Other real estate owned | 50,930 | Appraisal value | NA | NA |
June 30, 2017 | December 31, 2016 | ||||||||||||||
(dollar amounts in thousands) | Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||
Financial Assets | |||||||||||||||
Cash and short-term assets | $ | 1,592,624 | $ | 1,592,624 | $ | 1,443,037 | $ | 1,443,037 | |||||||
Trading account securities | 94,767 | 94,767 | 133,295 | 133,295 | |||||||||||
Loans held for sale | 748,077 | 752,800 | 512,951 | 515,640 | |||||||||||
Available-for-sale and other securities | 15,388,306 | 15,388,306 | 15,562,837 | 15,562,837 | |||||||||||
Held-to-maturity securities | 8,279,577 | 8,259,402 | 7,806,939 | 7,787,268 | |||||||||||
Net loans and direct financing leases | 67,391,314 | 67,263,687 | 66,323,583 | 66,294,639 | |||||||||||
Derivatives | 190,012 | 190,012 | 238,219 | 238,219 | |||||||||||
Financial Liabilities | |||||||||||||||
Deposits | 75,933,373 | 77,382,067 | 75,607,717 | 76,161,091 | |||||||||||
Short-term borrowings | 4,552,877 | 4,552,877 | 3,692,654 | 3,692,654 | |||||||||||
Long-term debt | 8,536,471 | 8,673,908 | 8,309,159 | 8,387,444 | |||||||||||
Derivatives | 78,358 | 78,358 | 98,286 | 98,286 |
Estimated Fair Value Measurements at Reporting Date Using | June 30, 2017 | ||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | ||||||||||||
Financial Assets | |||||||||||||||
Held-to-maturity securities | $ | — | $ | 8,259,402 | $ | — | $ | 8,259,402 | |||||||
Net loans and direct financing leases | — | — | 67,263,687 | 67,263,687 | |||||||||||
Financial Liabilities | |||||||||||||||
Deposits | — | 73,621,776 | 3,760,291 | 77,382,067 | |||||||||||
Short-term borrowings | 4,580 | — | 4,548,297 | 4,552,877 | |||||||||||
Long-term debt | — | 8,278,588 | 395,320 | 8,673,908 |
Estimated Fair Value Measurements at Reporting Date Using | December 31, 2016 | ||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | ||||||||||||
Financial Assets | |||||||||||||||
Held-to-maturity securities | $ | — | $ | 7,787,268 | $ | — | $ | 7,787,268 | |||||||
Net loans and direct financing leases | — | — | 66,294,639 | 66,294,639 | |||||||||||
Financial Liabilities | |||||||||||||||
Deposits | — | 72,319,328 | 3,841,763 | 76,161,091 | |||||||||||
Short-term borrowings | 474 | — | 3,692,180 | 3,692,654 | |||||||||||
Long-term debt | — | 7,980,176 | 407,268 | 8,387,444 |
June 30, 2017 | December 31, 2016 | ||||||||||||||
(dollar amounts in thousands) | Asset | Liability | Asset | Liability | |||||||||||
Derivatives designated as Hedging Instruments | |||||||||||||||
Interest rate contracts | $ | 40,416 | $ | 90,326 | $ | 46,440 | $ | 99,996 | |||||||
Derivatives not designated as Hedging Instruments | |||||||||||||||
Interest rate contracts | 192,000 | 114,889 | 213,587 | 143,976 | |||||||||||
Foreign exchange contracts | 27,655 | 27,883 | 23,265 | 19,576 | |||||||||||
Commodities contracts | 53,295 | 49,520 | 108,026 | 104,328 | |||||||||||
Equity contracts | 10,728 | 5,694 | 9,775 | — | |||||||||||
Total Contracts | $ | 324,094 | $ | 288,312 | $ | 401,093 | $ | 367,876 |
(dollar amounts in thousands) | Fair Value Hedges | Cash Flow Hedges | Total | ||||||||
Instruments associated with: | |||||||||||
Loans | $ | — | $ | 1,925,000 | $ | 1,925,000 | |||||
Deposits | — | — | — | ||||||||
Subordinated notes | 950,000 | — | 950,000 | ||||||||
Long-term debt | 6,725,000 | — | 6,725,000 | ||||||||
Total notional value at June 30, 2017 | $ | 7,675,000 | $ | 1,925,000 | $ | 9,600,000 |
Weighted-Average Rate | |||||||||||||||
(dollar amounts in thousands) | Notional Value | Average Maturity (years) | Fair Value | Receive | Pay | ||||||||||
Asset conversion swaps | |||||||||||||||
Receive fixed—generic | $ | 1,925,000 | 0.3 | $ | (3,420 | ) | 1.07 | % | 1.44 | % | |||||
Liability conversion swaps | |||||||||||||||
Receive fixed—generic | 7,675,000 | 2.8 | (46,490 | ) | 1.54 | 1.19 | |||||||||
Total swap portfolio at June 30, 2017 | $ | 9,600,000 | 2.3 | $ | (49,910 | ) | 1.44 | % | 1.24 | % |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Interest rate contracts | |||||||||||||||
Change in fair value of interest rate swaps hedging deposits (1) | $ | — | $ | — | $ | (76 | ) | $ | (82 | ) | |||||
Change in fair value of hedged deposits (1) | — | — | — | 72 | |||||||||||
Change in fair value of interest rate swaps hedging subordinated notes (2) | 2,277 | 4 | (2,431 | ) | 6,809 | ||||||||||
Change in fair value of hedged subordinated notes (2) | (2,235 | ) | (4 | ) | 3,168 | (6,809 | ) | ||||||||
Change in fair value of interest rate swaps hedging other long-term debt (2) | 15,832 | 22,017 | 5,551 | 83,049 | |||||||||||
Change in fair value of hedged other long-term debt (2) | (16,913 | ) | (21,047 | ) | (8,378 | ) | (80,834 | ) |
(1) | Effective portion of the hedging relationship is recognized in Interest expense—deposits in the Unaudited Condensed Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Unaudited Condensed Consolidated Statements of Income. |
(2) | Effective portion of the hedging relationship is recognized in Interest expense—subordinated notes and other long-term debt in the Unaudited Condensed Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Unaudited Condensed Consolidated Statements of Income. |
Derivatives in cash flow hedging relationships | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) (after-tax) | Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) | ||||||||||||||
Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||||
Interest rate contracts | |||||||||||||||||
Loans | $ | 793 | $ | 1,293 | Interest and fee income - loans and leases | $ | 427 | $ | (248 | ) | |||||||
Investment Securities | — | — | Noninterest income - other income | — | — | ||||||||||||
Total | $ | 793 | $ | 1,293 | $ | 427 | $ | (248 | ) |
Derivatives in cash flow hedging relationships | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) (after-tax) | Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) | ||||||||||||||
Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||||
Interest rate contracts | |||||||||||||||||
Loans | $ | (397 | ) | $ | 10,542 | Interest and fee income - loans and leases | $ | 987 | $ | (893 | ) | ||||||
Investment Securities | — | — | Noninterest income - other income | — | 1 | ||||||||||||
$ | (397 | ) | $ | 10,542 | $ | 987 | $ | (892 | ) |
Derivatives in cash flow hedging relationships | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Interest rate contracts | |||||||||||||||
Loans | $ | (31 | ) | $ | 421 | $ | (134 | ) | $ | 377 |
Derivatives used in mortgage banking activities | June 30, 2017 | December 31, 2016 | |||||||||||||
(dollar amounts in thousands) | Asset | Liability | Asset | Liability | |||||||||||
Interest rate lock agreements | $ | 9,227 | $ | 355 | $ | 5,747 | $ | 1,598 | |||||||
Forward trades and options | 1,642 | 2,178 | 13,319 | 1,173 | |||||||||||
Total derivatives used in mortgage banking activities | $ | 10,869 | $ | 2,533 | $ | 19,066 | $ | 2,771 |
Offsetting of Financial Liabilities and Derivative Assets | ||||||||||||||||||||||||
Gross amounts offset in the condensed consolidated balance sheets | Net amounts of assets presented in the condensed consolidated balance sheets | Gross amounts not offset in the condensed consolidated balance sheets | ||||||||||||||||||||||
(dollar amounts in thousands) | Gross amounts of recognized assets | Financial instruments | Cash collateral received | Net amount | ||||||||||||||||||||
June 30, 2017 | Derivatives | $ | 334,963 | $ | (144,951 | ) | $ | 190,012 | $ | (5,009 | ) | $ | (18,448 | ) | $ | 166,555 | ||||||||
December 31, 2016 | Derivatives | 420,159 | (181,940 | ) | 238,219 | (34,328 | ) | (5,428 | ) | 198,463 |
Offsetting of Financial Liabilities and Derivative Liabilities | ||||||||||||||||||||||||
Gross amounts offset in the condensed consolidated balance sheets | Net amounts of liabilities presented in the condensed consolidated balance sheets | Gross amounts not offset in the condensed consolidated balance sheets | ||||||||||||||||||||||
(dollar amounts in thousands) | Gross amounts of recognized liabilities | Financial instruments | Cash collateral delivered | Net amount | ||||||||||||||||||||
June 30, 2017 | Derivatives | $ | 290,845 | $ | (212,487 | ) | $ | 78,358 | $ | — | $ | (24,348 | ) | $ | 54,010 | |||||||||
December 31, 2016 | Derivatives | 370,647 | (272,361 | ) | 98,286 | (7,550 | ) | (23,943 | ) | 66,793 |
June 30, 2017 | ||||||||||||
Huntington Technology Funding Trust | Other Consolidated VIEs | Total | ||||||||||
(dollar amounts in thousands) | Series 2014A | |||||||||||
Assets: | ||||||||||||
Cash | $ | 1,566 | $ | — | $ | 1,566 | ||||||
Net loans and leases | 43,039 | — | 43,039 | |||||||||
Accrued income and other assets | — | 271 | 271 | |||||||||
Total assets | $ | 44,605 | $ | 271 | $ | 44,876 | ||||||
Liabilities: | ||||||||||||
Other long-term debt | $ | 36,040 | $ | — | $ | 36,040 | ||||||
Accrued interest and other liabilities | — | 271 | 271 | |||||||||
Total liabilities | 36,040 | 271 | 36,311 | |||||||||
Equity: | ||||||||||||
Beneficial Interest owned by third party | 8,565 | — | 8,565 | |||||||||
Total liabilities and equity | $ | 44,605 | $ | 271 | $ | 44,876 |
December 31, 2016 | ||||||||||||
Huntington Technology Funding Trust | Other Consolidated VIEs | Total | ||||||||||
(dollar amounts in thousands) | Series 2014A | |||||||||||
Assets: | ||||||||||||
Cash | $ | 1,564 | $ | — | $ | 1,564 | ||||||
Net loans and leases | 69,825 | — | 69,825 | |||||||||
Accrued income and other assets | — | 281 | 281 | |||||||||
Total assets | $ | 71,389 | $ | 281 | $ | 71,670 | ||||||
Liabilities: | ||||||||||||
Other long-term debt | $ | 57,494 | $ | — | $ | 57,494 | ||||||
Accrued interest and other liabilities | — | 281 | 281 | |||||||||
Total liabilities | 57,494 | 281 | 57,775 | |||||||||
Equity: | ||||||||||||
Beneficial Interest owned by third party | 13,895 | — | 13,895 | |||||||||
Total liabilities and equity | $ | 71,389 | $ | 281 | $ | 71,670 |
June 30, 2017 | |||||||||||
(dollar amounts in thousands) | Total Assets | Total Liabilities | Maximum Exposure to Loss | ||||||||
2016-1 Automobile Trust | $ | 10,464 | $ | — | $ | 10,464 | |||||
2015-1 Automobile Trust | 2,046 | — | 2,046 | ||||||||
Trust Preferred Securities | 13,919 | 252,568 | — | ||||||||
Low Income Housing Tax Credit Partnerships | 615,691 | 327,793 | 615,691 | ||||||||
Other Investments | 110,318 | 55,026 | 110,318 | ||||||||
Total | $ | 752,438 | $ | 635,387 | $ | 738,519 |
December 31, 2016 | |||||||||||
(dollar amounts in thousands) | Total Assets | Total Liabilities | Maximum Exposure to Loss | ||||||||
2016-1 Automobile Trust | $ | 14,770 | $ | — | $ | 14,770 | |||||
2015-1 Automobile Trust | 2,227 | — | 2,227 | ||||||||
Trust Preferred Securities | 13,919 | 252,552 | — | ||||||||
Low Income Housing Tax Credit Partnerships | 576,880 | 292,721 | 576,880 | ||||||||
Other Investments | 79,195 | 42,316 | 79,195 | ||||||||
Total | $ | 686,991 | $ | 587,589 | $ | 673,072 |
(dollar amounts in millions) | Year | Amount Transferred | ||||
2016-1 Automobile Trust | 2016 | $ | 1,500 | |||
2015-1 Automobile Trust | 2015 | 750 |
(dollar amounts in thousands) | Rate | Principal amount of subordinated note/ debenture issued to trust (1) | Investment in unconsolidated subsidiary | |||||||
Huntington Capital I | 1.87 | % | (2) | $ | 69,730 | $ | 6,186 | |||
Huntington Capital II | 1.87 | (3) | 32,093 | 3,093 | ||||||
Sky Financial Capital Trust III | 2.70 | (4) | 72,165 | 2,165 | ||||||
Sky Financial Capital Trust IV | 2.55 | (4) | 74,320 | 2,320 | ||||||
Camco Financial Trust | 3.69 | (5) | 4,260 | 155 | ||||||
Total | $ | 252,568 | $ | 13,919 |
(1) | Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. |
(2) | Variable effective rate at June 30, 2017, based on three-month LIBOR +0.70%. |
(3) | Variable effective rate at June 30, 2017, based on three-month LIBOR +0.625%. |
(4) | Variable effective rate at June 30, 2017, based on three-month LIBOR +1.40%. |
(5) | Variable effective rate at June 30, 2017, based on three-month LIBOR +1.33%. |
(dollar amounts in thousands) | June 30, 2017 | December 31, 2016 | |||||
Affordable housing tax credit investments | $ | 942,769 | $ | 877,237 | |||
Less: amortization | (327,078 | ) | (300,357 | ) | |||
Net affordable housing tax credit investments | $ | 615,691 | $ | 576,880 | |||
Unfunded commitments | $ | 327,793 | $ | 292,721 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Tax credits and other tax benefits recognized | $ | 22,671 | $ | 18,150 | $ | 45,955 | $ | 36,434 | |||||||
Proportional amortization method | |||||||||||||||
Tax credit amortization expense included in provision for income taxes | 17,220 | 12,499 | 34,182 | 24,905 | |||||||||||
Equity method | |||||||||||||||
Tax credit investment (gains) losses included in non-interest income | — | 132 | 109 | 264 |
(dollar amounts in thousands) | June 30, 2017 | December 31, 2016 | |||||
Contract amount represents credit risk: | |||||||
Commitments to extend credit | |||||||
Commercial | $ | 15,684,661 | $ | 15,190,056 | |||
Consumer | 12,727,316 | 12,235,943 | |||||
Commercial real estate | 1,474,831 | 1,697,671 | |||||
Standby letters-of-credit | 559,903 | 637,182 | |||||
Commercial letters-of-credit | 11,952 | 4,610 |
Three Months Ended June 30, | |||||||||||||||||||||||
Income Statements | Consumer & Business Banking | Commercial Banking | CREVF | RBHPCG | Treasury / Other | Huntington Consolidated | |||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||||||
2017 | |||||||||||||||||||||||
Net interest income | $ | 420,210 | $ | 168,814 | $ | 140,367 | $ | 48,749 | $ | (33,628 | ) | $ | 744,512 | ||||||||||
Provision for (reduction in allowance) credit losses | 17,000 | (10,339 | ) | 20,793 | (2,477 | ) | 1 | 24,978 | |||||||||||||||
Noninterest income | 184,199 | 59,926 | 12,559 | 46,385 | 22,149 | 325,218 | |||||||||||||||||
Noninterest expense | 412,400 | 101,184 | 55,946 | 60,885 | 63,949 | 694,364 | |||||||||||||||||
Income taxes | 61,253 | 48,263 | 26,665 | 12,854 | (70,388 | ) | 78,647 | ||||||||||||||||
Net income | $ | 113,756 | $ | 89,632 | $ | 49,522 | $ | 23,872 | $ | (5,041 | ) | $ | 271,741 | ||||||||||
2016 | |||||||||||||||||||||||
Net interest income | $ | 284,896 | $ | 106,971 | $ | 95,617 | $ | 35,499 | $ | (17,102 | ) | $ | 505,881 | ||||||||||
Provision for (reduction in allowance) credit losses | 20,848 | (5,630 | ) | 9,740 | (448 | ) | (1 | ) | 24,509 | ||||||||||||||
Noninterest income | 152,242 | 51,158 | 10,640 | 40,097 | 16,975 | 271,112 | |||||||||||||||||
Noninterest expense | 310,924 | 80,842 | 41,185 | 53,757 | 36,953 | 523,661 | |||||||||||||||||
Income taxes | 36,879 | 29,021 | 19,366 | 7,801 | (38,784 | ) | 54,283 | ||||||||||||||||
Net income | $ | 68,487 | $ | 53,896 | $ | 35,966 | $ | 14,486 | $ | 1,705 | $ | 174,540 |
Six Months Ended June 30, | |||||||||||||||||||||||
Income Statements | Consumer & Business Banking | Commercial Banking | CREVF | RBHPCG | Treasury / Other | Huntington Consolidated | |||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||||||
2017 | |||||||||||||||||||||||
Net interest income | $ | 828,936 | $ | 343,285 | $ | 279,700 | $ | 95,492 | $ | (72,926 | ) | $ | 1,474,487 | ||||||||||
Provision for credit losses | 50,181 | 11,798 | 30,342 | 295 | — | 92,616 | |||||||||||||||||
Noninterest income | 354,970 | 117,573 | 23,768 | 94,395 | 46,975 | 637,681 | |||||||||||||||||
Noninterest expense | 824,048 | 201,382 | 108,635 | 123,934 | 143,787 | 1,401,786 | |||||||||||||||||
Income taxes | 108,387 | 86,687 | 57,572 | 22,980 | (137,695 | ) | 137,931 | ||||||||||||||||
Net income | $ | 201,290 | $ | 160,991 | $ | 106,919 | $ | 42,678 | $ | (32,043 | ) | $ | 479,835 | ||||||||||
2016 | |||||||||||||||||||||||
Net interest income | $ | 562,423 | $ | 212,240 | $ | 191,214 | $ | 70,503 | $ | (27,433 | ) | $ | 1,008,947 | ||||||||||
Provision for (reduction in allowance) credit losses | 30,750 | 29,423 | (6,909 | ) | (1,173 | ) | — | 52,091 | |||||||||||||||
Noninterest income | 284,002 | 95,484 | 17,950 | 79,403 | 36,140 | 512,979 | |||||||||||||||||
Noninterest expense | 616,981 | 159,050 | 80,922 | 109,172 | 48,616 | 1,014,741 | |||||||||||||||||
Income taxes | 69,543 | 41,738 | 47,303 | 14,667 | (64,011 | ) | 109,240 | ||||||||||||||||
Net income | $ | 129,151 | $ | 77,513 | $ | 87,848 | $ | 27,240 | $ | 24,102 | $ | 345,854 |
Assets at | Deposits at | ||||||||||||||
(dollar amounts in thousands) | June 30, 2017 | December 31, 2016 | June 30, 2017 | December 31, 2016 | |||||||||||
Consumer & Business Banking | $ | 25,820,232 | $ | 25,332,635 | $ | 45,971,574 | $ | 45,355,745 | |||||||
Commercial Banking | 24,021,962 | 24,121,689 | 17,867,356 | 18,053,208 | |||||||||||
CREVF | 24,431,788 | 23,576,832 | 1,943,670 | 1,893,072 | |||||||||||
RBHPCG | 5,570,436 | 5,327,622 | 5,882,745 | 6,214,250 | |||||||||||
Treasury / Other | 21,562,361 | 21,355,319 | 4,268,028 | 4,091,442 | |||||||||||
Total | $ | 101,406,779 | $ | 99,714,097 | $ | 75,933,373 | $ | 75,607,717 |
Exhibit Number | Document Description | Report or Registration Statement | SEC File or Registration Number | Exhibit Reference | ||||||
3.1 | Articles of Restatement of Charter. | Annual Report on Form 10-K for the year ended December 31, 1993 | 000-02525 | 3 | (i) | |||||
3.2 | Articles of Amendment to Articles of Restatement of Charter. | Current Report on Form 8-K dated May 31, 2007 | 000-02525 | 3.1 | ||||||
3.3 | Articles of Amendment to Articles of Restatement of Charter. | Current Report on Form 8-K dated May 7, 2008 | 000-02525 | 3.1 | ||||||
3.4 | Articles of Amendment to Articles of Restatement of Charter. | Current Report on Form 8-K dated April 27, 2010 | 001-34073 | 3.1 | ||||||
3.5 | Articles Supplementary of Huntington Bancshares Incorporated, as of April 22, 2008. | Current Report on Form 8-K dated April 22, 2008 | 000-02525 | 3.1 | ||||||
3.6 | Articles Supplementary of Huntington Bancshares Incorporated, as of April 22. 2008. | Current Report on Form 8-K dated April 22, 2008 | 000-02525 | 3.2 | ||||||
3.7 | Articles Supplementary of Huntington Bancshares Incorporated, as of November 12, 2008. | Current Report on Form 8-K dated November 12, 2008 | 001-34073 | 3.1 | ||||||
3.8 | Articles Supplementary of Huntington Bancshares Incorporated, as of December 31, 2006. | Annual Report on Form 10-K for the year ended December 31, 2006 | 000-02525 | 3.4 | ||||||
3.9 | Articles Supplementary of Huntington Bancshares Incorporated, as of December 28, 2011. | Current Report on Form 8-K dated December 28, 2011. | 001-34073 | 3.1 | ||||||
3.10 | Articles Supplementary of Huntington Bancshares Incorporated, as of March 18, 2016. | Current Report on Form 8-K dated March 21, 2016. | 001-34073 | 3.1 | ||||||
3.11 | Articles Supplementary of Huntington Bancshares Incorporated, as of May 3, 2016. | Current Report on Form 8-K dated May 5, 2016. | 001-34073 | 3.2 | ||||||
3.12 | Articles Supplementary of Huntington Bancshares Incorporated, effective as of August 15, 2016. | Registration Statement on Form 8-A dated August 15, 2016 | 001-34073 | 3.12 | ||||||
3.13 | Bylaws of Huntington Bancshares Incorporated, as amended and restated, as of July 19, 2017. | Current Report on Form 8-K dated July 21, 2017 | 001-34073 | 3.1 | ||||||
4.1 | Instruments defining the Rights of Security Holders—reference is made to Articles Fifth, Eighth, and Tenth of Articles of Restatement of Charter, as amended and supplemented. Instruments defining the rights of holders of long-term debt will be furnished to the Securities and Exchange Commission upon request. | |||||||||
10.2 | * Corrected First Amendment to the 2015 Long-Term Incentive Plan | |||||||||
31.1 | **Rule 13a-14(a) Certification – Chief Executive Officer. | |||||||||
31.2 | **Rule 13a-14(a) Certification – Chief Financial Officer. | |||||||||
32.1 | ***Section 1350 Certification – Chief Executive Officer. | |||||||||
32.2 | ***Section 1350 Certification – Chief Financial Officer. | |||||||||
101 | **The following material from Huntington’s Form 10-Q Report for the quarterly period ended June 30, 2017, formatted in XBRL: (1) Unaudited Condensed Consolidated Balance Sheets, (2) Unaudited Condensed Consolidated Statements of Income, (3) Unaudited Condensed Consolidated Statements of Comprehensive Income (4) Unaudited Condensed Consolidated Statement of Changes in Shareholders’ Equity, (5) Unaudited Condensed Consolidated Statements of Cash Flows, and (6) the Notes to Unaudited Condensed Consolidated Financial Statements. |
* | Denotes management contract or compensatory plan or arrangement |
** | Filed herewith |
*** | Furnished herewith |
Date: | July 31, 2017 | /s/ Stephen D. Steinour | |
Stephen D. Steinour | |||
Chairman, Chief Executive Officer and President | |||
Date: | July 31, 2017 | /s/ Howell D. McCullough III | |
Howell D. McCullough III | |||
Chief Financial Officer |
A. | Huntington Bancshares Incorporated (the “Corporation”) currently maintains the Huntington Bancshares Incorporated 2015 Long-Term Incentive Plan (the “Plan”). |
B. | The Corporation desires to amend the Plan to eliminate the mandatory minimum 6-month vesting period requirement for awards of stock options, stock appreciation rights, restricted stock, and restricted stock units granted under the Plan. |
C. | Article 18 of the Plan gives the Corporation the authority to amend the Plan from time to time. |
1. | Section 2.32 of the Plan is deleted in its entirety and replaced with the following: |
3. | Section 7.3 of the Plan is deleted in its entirety and replaced with the following: |
4. | Section 8.3 of the Plan is deleted in its entirety and replaced with the following: |
5. | Section 9.2 of the Plan is deleted in its entirety and replaced with the following: |
6. | The remainder of the Plan shall remain unchanged. |
1. | I have reviewed this Quarterly Report on Form 10-Q of Huntington Bancshares Incorporated; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)), for the registrant and have: |
a) | designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a) | all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
b) | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: | July 31, 2017 | |||
/s/ | Stephen D. Steinour | |||
Stephen D. Steinour | ||||
Chief Executive Officer |
1. | I have reviewed this Quarterly Report on Form 10-Q of Huntington Bancshares Incorporated; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)), for the registrant and have: |
5. | designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
a) | designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
b) | evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
c) | disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
6. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a) | all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
b) | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: | July 31, 2017 | |||
/s/ | Howell D. McCullough III | |||
Howell D. McCullough III | ||||
Chief Financial Officer |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ | Stephen D. Steinour | |
Stephen D. Steinour | ||
Chief Executive Officer | ||
July 31, 2017 |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ | Howell D. McCullough III | |
Howell D. McCullough III | ||
Chief Financial Officer | ||
July 31, 2017 |
Document and Entity Information |
6 Months Ended |
---|---|
Jun. 30, 2017
shares
| |
Document and Entity Information [Abstract] | |
Entity Registrant Name | HUNTINGTON BANCSHARES INC/MD |
Entity Central Index Key | 0000049196 |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2017 |
Amendment Flag | false |
Document Fiscal Year Focus | 2017 |
Document Fiscal Period Focus | Q2 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding (in shares) | 1,090,016,469 |
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Assets | ||
Loans held for sale, fair value | $ 654,087 | $ 438,224 |
Loans and leases, fair value | $ 103,741 | $ 82,319 |
Shareholders’ equity | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Interest and fee income: | ||||
Loans and leases | $ 699,838 | $ 469,770 | $ 1,375,772 | $ 933,192 |
Available-for-sale and other securities | ||||
Taxable | 78,292 | 40,992 | 154,577 | 80,606 |
Tax-exempt | 18,695 | 13,795 | 37,382 | 26,814 |
Held-to-maturity securities—taxable | 44,276 | 35,420 | 89,471 | 72,209 |
Other | 5,323 | 5,681 | 9,582 | 10,088 |
Total interest income | 846,424 | 565,658 | 1,666,784 | 1,122,909 |
Interest expense: | ||||
Deposits | 42,287 | 22,324 | 77,077 | 45,342 |
Short-term borrowings | 5,203 | 913 | 11,069 | 1,811 |
Federal Home Loan Bank advances | 66 | 72 | 132 | 141 |
Subordinated notes and other long-term debt | 54,356 | 36,468 | 104,019 | 66,668 |
Total interest expense | 101,912 | 59,777 | 192,297 | 113,962 |
Net interest income | 744,512 | 505,881 | 1,474,487 | 1,008,947 |
Provision for credit losses | 24,978 | 24,509 | 92,616 | 52,091 |
Net interest income after provision for credit losses | 719,534 | 481,372 | 1,381,871 | 956,856 |
Service charges on deposit accounts | 87,582 | 75,613 | 171,002 | 145,875 |
Cards and payment processing income | 52,485 | 39,184 | 99,654 | 75,631 |
Mortgage banking income | 32,268 | 31,591 | 63,960 | 50,134 |
Trust and investment management services | 32,232 | 22,497 | 66,101 | 45,335 |
Insurance income | 15,843 | 15,947 | 31,107 | 32,172 |
Brokerage income | 16,294 | 14,599 | 32,052 | 30,101 |
Capital markets fees | 16,836 | 13,037 | 31,036 | 26,047 |
Bank owned life insurance income | 15,322 | 12,536 | 32,864 | 26,049 |
Gain on sale of loans | 12,002 | 9,265 | 24,824 | 14,660 |
Net gains on sales of securities | 3,694 | 732 | 3,710 | 732 |
Other noninterest income | 44,219 | 36,187 | 84,954 | 66,319 |
Total noninterest income | 325,218 | 271,112 | 637,681 | 512,979 |
Personnel costs | 391,997 | 298,949 | 773,997 | 584,346 |
Outside data processing and other services | 75,169 | 63,037 | 162,371 | 124,915 |
Equipment | 42,924 | 31,805 | 89,624 | 64,381 |
Net occupancy | 52,613 | 30,704 | 120,313 | 62,180 |
Professional services | 18,190 | 21,488 | 36,485 | 35,026 |
Marketing | 18,843 | 14,773 | 32,766 | 27,041 |
Deposit and other insurance expense | 20,418 | 12,187 | 40,517 | 23,395 |
Amortization of intangibles | 14,242 | 3,600 | 28,597 | 7,312 |
Other noninterest expense | 59,968 | 47,118 | 117,116 | 86,145 |
Total noninterest expense | 694,364 | 523,661 | 1,401,786 | 1,014,741 |
Income before income taxes | 350,388 | 228,823 | 617,766 | 455,094 |
Provision for income taxes | 78,647 | 54,283 | 137,931 | 109,240 |
Net income | 271,741 | 174,540 | 479,835 | 345,854 |
Dividends on preferred shares | 18,889 | 19,874 | 37,767 | 27,872 |
Net income applicable to common shares | $ 252,852 | $ 154,666 | $ 442,068 | $ 317,982 |
Average common shares—basic (in shares) | 1,088,934 | 798,167 | 1,087,654 | 796,961 |
Average common shares—diluted (in shares) | 1,108,527 | 810,371 | 1,108,572 | 809,360 |
Per common share: | ||||
Net income—basic (in usd per share) | $ 0.23 | $ 0.19 | $ 0.41 | $ 0.40 |
Net income—diluted (in usd per share) | 0.23 | 0.19 | 0.40 | 0.39 |
Cash dividends declared (in usd per share) | $ 0.08 | $ 0.07 | $ 0.16 | $ 0.14 |
OTTI losses for the periods presented: | ||||
Total OTTI losses | $ (3,563) | $ (76) | $ (3,589) | $ (3,809) |
Noncredit-related portion of loss recognized in OCI | 4 | 0 | 6 | 3,733 |
Impairment losses recognized in earnings on available-for-sale securities | $ (3,559) | $ (76) | $ (3,583) | $ (76) |
Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 271,741 | $ 174,540 | $ 479,835 | $ 345,854 |
Unrealized gains (losses) on available-for-sale and other securities: | ||||
Non-credit-related impairment recoveries (losses) on debt securities not expected to be sold | 1,602 | 667 | 2,126 | (1,682) |
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains and losses | (37,052) | (30,603) | (47,050) | (82,154) |
Total unrealized gains (losses) on available-for-sale and other securities | 38,654 | 31,270 | 49,176 | 80,472 |
Unrealized gains (losses) on cash flow hedging derivatives, net of reclassifications to income | 1,070 | 1,134 | 244 | 9,963 |
Change in accumulated unrealized losses for pension and other post-retirement obligations | 779 | 840 | 1,239 | 1,681 |
Other comprehensive income (loss), net of tax | 40,503 | 33,244 | 50,659 | 92,116 |
Comprehensive income | $ 312,244 | $ 207,784 | $ 530,494 | $ 437,970 |
Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands |
Total |
Common Stock |
Capital Surplus |
Treasury Stock |
Accumulated Other Comprehensive Loss |
Retained Earnings (Deficit) |
Preferred Stock |
Series A Preferred Stock |
Series A Preferred Stock
Retained Earnings (Deficit)
|
Series B Preferred Stock |
Series B Preferred Stock
Retained Earnings (Deficit)
|
Series C Preferred Stock |
Series C Preferred Stock
Retained Earnings (Deficit)
|
Series D Preferred Stock |
Series D Preferred Stock
Retained Earnings (Deficit)
|
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Balance, beginning of period (in shares) at Dec. 31, 2015 | 796,970 | (2,041) | |||||||||||||
Balance, beginning of period at Dec. 31, 2015 | $ 6,594,606 | $ 7,970 | $ 7,038,502 | $ (17,932) | $ (226,158) | $ (594,067) | $ 386,291 | ||||||||
Comprehensive Income: | |||||||||||||||
Net income | 345,854 | 345,854 | |||||||||||||
Other comprehensive income (loss) | 92,116 | 92,116 | |||||||||||||
Cash dividends declared: | |||||||||||||||
Common stock, dividend | (111,735) | (111,735) | |||||||||||||
Preferred stock, dividend | $ (15,407) | $ (15,407) | $ (590) | $ (590) | $ (11,875) | $ (11,875) | |||||||||
Recognition of the fair value of share-based compensation | 27,799 | 27,799 | |||||||||||||
Other share-based compensation activity (in shares) | 4,559 | ||||||||||||||
Other share-based compensation activity | 4,913 | $ 45 | 7,872 | (3,004) | |||||||||||
Other (in shares) | 0 | (334) | |||||||||||||
Other | (3,364) | $ 0 | 76 | $ (3,426) | (14) | ||||||||||
Balance, end of period (in shares) at Jun. 30, 2016 | 801,529 | (2,375) | |||||||||||||
Balance, end of period at Jun. 30, 2016 | 7,507,304 | $ 8,015 | 7,074,249 | $ (21,358) | (134,042) | (390,838) | 971,278 | ||||||||
Cash dividends declared: | |||||||||||||||
Stock Issued During Period, Value, New Issues | 584,987 | 584,987 | |||||||||||||
Balance, beginning of period (in shares) at Dec. 31, 2016 | 1,088,641 | (2,953) | |||||||||||||
Balance, beginning of period at Dec. 31, 2016 | 10,308,146 | $ 10,886 | 9,881,277 | $ (27,384) | (401,016) | (226,844) | 1,071,227 | ||||||||
Comprehensive Income: | |||||||||||||||
Net income | 479,835 | 479,835 | |||||||||||||
Other comprehensive income (loss) | 50,659 | 50,659 | |||||||||||||
Cash dividends declared: | |||||||||||||||
Common stock, dividend | (174,369) | (174,369) | |||||||||||||
Preferred stock, dividend | $ (15,406) | $ (15,406) | $ (673) | $ (673) | $ (2,938) | $ (2,938) | $ (18,750) | $ (18,750) | |||||||
Recognition of the fair value of share-based compensation | 52,045 | 52,045 | |||||||||||||
Other share-based compensation activity (in shares) | 4,514 | ||||||||||||||
Other share-based compensation activity | (21,624) | $ 45 | (14,612) | (7,057) | |||||||||||
Other (in shares) | (7) | 193 | |||||||||||||
Other | (2,743) | $ 1 | 1,342 | $ (3,904) | (241) | ||||||||||
Balance, end of period (in shares) at Jun. 30, 2017 | 1,093,162 | (3,146) | |||||||||||||
Balance, end of period at Jun. 30, 2017 | $ 10,654,182 | $ 10,932 | $ 9,920,052 | $ (31,288) | $ (350,357) | $ 33,557 | $ 1,071,286 |
Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares |
6 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Cash dividends declared: | ||
Common stock, Cash dividend per share (in usd per share) | $ 0.16 | $ 0.14 |
Series A Preferred Stock | ||
Cash dividends declared: | ||
Preferred stock dividend per share (in usd per share) | 42.50 | 42.50 |
Series B Preferred Stock | ||
Cash dividends declared: | ||
Preferred stock dividend per share (in usd per share) | 18.95 | 16.63 |
Series C Preferred Stock | ||
Cash dividends declared: | ||
Preferred stock dividend per share (in usd per share) | 29.38 | 0 |
Series D Preferred Stock | ||
Cash dividends declared: | ||
Preferred stock dividend per share (in usd per share) | $ 31.25 | $ 19.79 |
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Operating activities | ||
Net income | $ 479,835 | $ 345,854 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 92,616 | 52,091 |
Depreciation and amortization | 210,825 | 208,249 |
Share-based compensation expense | 52,045 | 27,799 |
Net gain on sales of securities | (127) | (656) |
Net change in: | ||
Trading account securities | 38,528 | 1,708 |
Loans held for sale | (220,674) | (307,880) |
Accrued income and other assets | (57,635) | (97,334) |
Deferred income taxes | 11,725 | (6,864) |
Accrued expense and other liabilities | (60,182) | 70,554 |
Other, net | 11,661 | (7,539) |
Net cash provided by (used for) operating activities | 558,744 | 286,638 |
Investing activities | ||
Change in interest bearing deposits in banks | 19,474 | 6,942 |
Proceeds from: | ||
Maturities and calls of available-for-sale and other securities | 715,893 | 467,633 |
Maturities of held-to-maturity securities | 523,309 | 495,645 |
Sales of available-for-sale and other securities | 411,763 | 170,986 |
Purchases of available-for-sale and other securities | (1,891,781) | (1,405,035) |
Purchases of held-to-maturity securities | (8,616) | 0 |
Net proceeds from sales of portfolio loans | 259,165 | 234,608 |
Net loan and lease activity, excluding sales and purchases | (1,429,367) | (2,220,929) |
Purchases of premises and equipment | (112,566) | (19,846) |
Proceeds from sales of other real estate | 17,802 | 13,290 |
Purchases of loans and leases | (93,560) | (341,985) |
Other, net | 8,343 | 2,698 |
Net cash provided by (used for) investing activities | (1,580,141) | (2,595,993) |
Financing activities | ||
Increase (decrease) in deposits | 325,656 | (256,333) |
Increase (decrease) in short-term borrowings | 838,389 | 1,335,888 |
Net proceeds from issuance of long-term debt | 1,060,697 | 1,051,794 |
Maturity/redemption of long-term debt | (843,019) | (255,750) |
Dividends paid on preferred stock | (37,743) | (27,872) |
Dividends paid on common stock | (174,168) | (112,087) |
Proceeds from stock options exercised | 6,884 | 3,887 |
Net proceeds from issuance of preferred stock | 0 | 584,987 |
Payments related to tax-withholding for share based compensation awards | (24,593) | 0 |
Other, net | 0 | 4,865 |
Net cash provided by (used for) financing activities | 1,152,103 | 2,329,379 |
Increase (decrease) in cash and cash equivalents | 130,706 | 20,024 |
Cash and cash equivalents at beginning of period | 1,384,770 | 847,156 |
Cash and cash equivalents at end of period | 1,515,476 | 867,180 |
Supplemental disclosures: | ||
Interest paid | 185,107 | 107,428 |
Income taxes paid (refunded) | 54,434 | 3,099 |
Non-cash activities | ||
Loans transferred to held-for-sale from portfolio | 298,331 | 266,527 |
Loans transferred to portfolio from held-for-sale | 1,265 | 10,661 |
Transfer of loans to OREO | 16,926 | $ 12,974 |
Available For Sale Securities Transferred To Held To Maturity Securities | $ 1,000,000 |
ACCOUNTING STANDARDS UPDATE |
6 Months Ended |
---|---|
Jun. 30, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
ACCOUNTING STANDARDS UPDATE | ACCOUNTING STANDARDS UPDATE ASU 2014-09—Revenue from Contracts with Customers (Topic 606): The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of the amendments require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach for revenue recognition. The amendments are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Management intends to adopt the new guidance on January 1, 2018 using the modified retrospective approach and is well into its outlined implementation plan. In this regard, management has completed a preliminary analysis that includes (a) identification of all revenue streams included in the financial statements; (b) determination of scope exclusions to identify ‘in-scope’ revenue streams; (c) determination of size, timing, and amount of revenue recognition for in-scope items; (d) determination of sample size of contracts for further analysis; and (e) completion of limited analysis on selected contracts to evaluate the potential impact of the new guidance. The key revenue streams identified include service charges, credit card and payment processing fees, trust services fees, insurance income, brokerage services, and mortgage banking income. The new guidance is not expected to have a significant impact on Huntington’s Unaudited Consolidated Financial Statements. ASU 2016-01 - Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this Update make targeted improvements to GAAP including, but not limited to, requiring an entity to measure its equity investments with changes in the fair value recognized in the income statement; requiring an entity to present separately in OCI the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments (i.e., FVO liability); requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; assessing deferred tax assets related to a net unrealized loss on AFS securities in combination with the entity’s other deferred tax assets; and eliminating some of the disclosures required by the existing GAAP while requiring entities to present and disclose some additional information. The new guidance is effective for the fiscal period beginning after December 15, 2017, including interim periods within those fiscal years. An entity should apply the amendments as a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendment is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. ASU 2016-02 - Leases. This Update sets forth a new lease accounting model for lessors and lessees. For lessees, virtually all leases will be required to be recognized on the balance sheet by recording a right-of-use asset and lease liability. Subsequent accounting for leases varies depending on whether the lease is an operating lease or a finance lease. The accounting applied by a lessor is largely unchanged from that applied under the existing guidance. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Update is effective for the fiscal period beginning after December 15, 2018, with early application permitted. Management is currently assessing the impact of the new guidance on Huntington's Unaudited Consolidated Financial Statements. Huntington expects to recognize a right-of-use asset and a lease liability for its operating lease commitments. ASU 2016-13 - Financial Instruments - Credit Losses. The amendments in this Update eliminate the probable recognition threshold for credit losses on financial assets measured at amortized cost. The Update requires those financial assets to be presented at the net amount expected to be collected (i.e., net of expected credit losses). The measurement of expected credit losses should be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. The Update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. The amendments should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Management currently intends to adopt the guidance on January 1, 2020 and is assessing the impact of this Update on Huntington's Unaudited Consolidated Financial Statements. Management has formed a working group comprised of teams from different disciplines including credit and finance. The working group is currently evaluating the requirements of the new standard and the impact it will have on our processes. The early stages of this evaluation include a review of existing credit models to identify areas where existing credit models used to comply with other regulatory requirements may be leveraged and areas where new impairment models may be required. ASU 2016-15 - Classification of Certain Cash Receipts and Cash Payments. The amendments in this Update add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. Current guidance lacks consistent principles for evaluating the classification of cash payments and receipts in the statement of cash flows. This has led to diversity in practice and, in certain circumstances, financial statement restatements. Therefore, the FASB issued the ASU with the intent of reducing diversity in practice with respect to several types of cash flows. The amendments in this Update are effective using a retrospective transition approach for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. This Update is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. ASU 2017-04 - Simplifying the Test for Goodwill Impairment. The Update simplifies the goodwill impairment test. Under the new guidance, Step 2 of the goodwill impairment process that requires an entity to determine the implied fair value of its goodwill by assigning fair value to all its assets and liabilities, is eliminated. Instead, the entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The new guidance is effective for annual and interim goodwill tests performed in fiscal years beginning after December 15, 2019. Early adoption is permitted. The amendment is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. ASU 2017-07 - Improving the Presentation of Net Periodic Pension Cost and Periodic Postretirement Benefit Cost. The amendments in this Update require that an employer report the service cost component of the pension cost and postretirement benefit cost in the same line items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of the net benefit cost should be presented in the income statement separately from the service cost component. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted as of the beginning of an annual period for which financial statements have not been issued or made available for issuance. This Update is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. ASU 2017-09 - Stock Compensation Modification Accounting. The Update reduces the current diversity in practice and provides explicit guidance pertaining to the provisions of modification accounting. The Update clarifies that an entity should account for effects of modification unless the fair value, vesting conditions and the classification of the modified award are the same as of the original awards immediately before the original award is modified. The Update is effective prospectively for annual periods and interim periods within those annual periods, beginning after December 15, 2017. Earlier application is permitted. The Update is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. |
BASIS OF PRESENTATION |
6 Months Ended |
---|---|
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The accompanying Unaudited Condensed Consolidated Financial Statements of Huntington reflect all adjustments consisting of normal recurring accruals which are, in the opinion of Management, necessary for a fair statement of the consolidated financial position, the results of operations, and cash flows for the periods presented. The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. These Unaudited Condensed Consolidated Financial Statements have been prepared according to the rules and regulations of the SEC and, therefore, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted. The Notes to Consolidated Financial Statements appearing in Huntington’s 2016 Form 10-K, which include descriptions of significant accounting policies, as updated by the information contained in this report, should be read in conjunction with these interim financial statements. For statement of cash flows purposes, cash and cash equivalents are defined as the sum of “Cash and due from banks” which includes amounts on deposit with the Federal Reserve and “Federal funds sold and securities purchased under resale agreements.” In conjunction with applicable accounting standards, all material subsequent events have been either recognized in the Unaudited Condensed Consolidated Financial Statements or disclosed in the Notes to Unaudited Condensed Consolidated Financial Statements. Certain amounts reported in prior periods have been reclassified to conform to the current period presentation. |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES | LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES Loans and leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Unaudited Condensed Consolidated Balance Sheets as loans and leases. Except for loans which are accounted for at fair value, loans are carried at the principal amount outstanding, net of unamortized premiums and discounts and deferred loan fees and costs and purchase accounting adjustments, which resulted in a net premium of $245 million and $120 million at June 30, 2017 and December 31, 2016, respectively. Loan and Lease Portfolio Composition The following table provides a detailed listing of Huntington’s loan and lease portfolio at June 30, 2017 and December 31, 2016:
Purchased Credit-Impaired Loans The following table presents a rollforward of the accretable yield for purchased credit impaired loans for the three-month and six-month period ended June 30, 2017: and 2016:
The following table reflects the ending and unpaid balances of the purchase credit impaired loans at June 30, 2017 and December 31, 2016:
During the second quarter 2017, an allowance for loan losses was recorded on the Commercial and industrial purchased credit-impaired portfolio for $1 million. Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. See Note 1 “Significant Accounting Policies” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2016 for a description of the accounting policies related to the ACL. The following table presents NALs by loan class at June 30, 2017 and December 31, 2016:
The following table presents an aging analysis of loans and leases, including past due loans, by loan class at June 30, 2017 and December 31, 2016: (1)
Allowance for Credit Losses Huntington maintains two reserves, both of which reflect management’s judgment regarding the appropriate level necessary to absorb credit losses inherent in our loan and lease portfolio: the ALLL and the AULC. Combined, these reserves comprise the total ACL. The determination of the ACL requires significant estimates, including the timing and amounts of expected future cash flows on impaired loans and leases, consideration of current economic conditions, and historical loss experience pertaining to pools of homogeneous loans and leases, all of which may be susceptible to change. See Note 1 “Significant Accounting Policies” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2016 for a description of the accounting policies related to the ACL. The ACL is increased through a provision for credit losses that is charged to earnings, based on Management’s quarterly evaluation and is reduced by charge-offs, net of recoveries, and the ACL associated with loans sold or transferred to held for sale. The following table presents ALLL and AULC activity by portfolio segment for the three-month and six-month periods ended June 30, 2017 and 2016:
Credit Quality Indicators See Note 4 “Loans / Leases and Allowance for Credit Losses” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2016 for a description of the credit quality indicators Huntington utilizes for monitoring credit quality and for determining an appropriate ACL level. The following table presents each loan and lease class by credit quality indicator at June 30, 2017 and December 31, 2016:
Impaired Loans See Note 1 “Significant Accounting Policies” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2016 for a description of accounting policies related to impaired loans. The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance at June 30, 2017 and December 31, 2016:
The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for impaired loans and leases and purchased credit-impaired loans: (1), (2)
TDR Loans TDRs are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. Acquired, non-purchased credit impaired loan are only considered for TDR reporting for modifications made subsequent to acquisition. See Note 4 “Loans / Leases and Allowance for Credit Losses” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2016 for an additional discussion of TDRs. The following table presents by class and modification type, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the three-month and six-month periods ended June 30, 2017 an 2016:
(2)Amount represents the financial impact via provision for loan and lease losses as a result of the modificati At June 30, 2017, the Bank has access to the Federal Reserve’s discount window and advances from the FHLB – Cincinnati. As of June 30, 2017, these borrowings and advances are secured by $30.4 billion of loans and securities. |
AVAILABLE-FOR-SALE AND OTHER SECURITIES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AVAILABLE-FOR-SALE AND OTHER SECURITIES | AVAILABLE-FOR-SALE AND OTHER SECURITIES Listed below are the contractual maturities of available-for-sale and other securities at June 30, 2017 and December 31, 2016:
Other securities at June 30, 2017 and December 31, 2016 include nonmarketable equity securities of $287 million and $249 million of stock issued by the FHLB and $298 million and $299 million of Federal Reserve Bank stock, respectively. Non-marketable equity securities are recorded at amortized cost. Other securities also include Mutual funds and marketable equity securities. The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment category at June 30, 2017 and December 31, 2016:
The following tables provide detail on investment securities with unrealized gross losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2017 and December 31, 2016:
At June 30, 2017, the carrying value of investment securities pledged to secure public and trust deposits, trading account liabilities, U.S. Treasury demand notes, and security repurchase agreements totaled $5.4 billion. There were no securities of a single issuer, which are not governmental or government-sponsored, that exceeded 10% of shareholders’ equity at June 30, 2017. The following table is a summary of realized securities gains and losses for the three-month and six-month periods ended June 30, 2017 and 2016:
Security Impairment Huntington evaluates the available-for-sale securities portfolio on a quarterly basis for impairment and conducts a comprehensive security-level assessment on all available-for-sale securities. Impairment exists when the present value of the expected cash flows are not sufficient to recover the entire amortized cost basis at the balance sheet date. Under these circumstances, any credit impairment would be recognized in earnings. At the end of the 2017 second quarter, Huntington changed its intent from able and willing to hold to sell sometime in the near future prior to final maturity for the two Reg Diversified CDO securities. Related to this change in intent, Huntington estimated the fair value of these bonds by obtaining bids. As a result of this analysis, Huntington recognized $3.6 million of OTTI on these two securities. For all other securities, Huntington does not intend to sell, nor does it believe it will be required to sell these securities until the amortized cost is recovered, which may be maturity. The highest risk segment in our investment portfolio is the trust preferred CDO securities which are in the asset-backed securities portfolio. This portfolio is in run off, and the Company has not purchased these types of securities since 2005. The fair values of the CDO assets have been impacted by various market conditions. The unrealized losses are primarily the result of wider liquidity spreads on asset-backed securities and the longer expected average lives of the trust-preferred CDO securities, due to changes in the expectations of when the underlying securities will be repaid. Collateralized Debt Obligations are backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordinated debt securities issued by banks, bank holding companies, and insurance companies. Many collateral issuers have the option of deferring interest payments on their debt for up to five years. A full cash flow analysis is used to estimate fair values and assess impairment for each security within this portfolio. A third party pricing specialist with direct industry experience in pooled-trust-preferred security evaluations is engaged to provide assistance estimating the fair value and expected cash flows on this portfolio. The full cash flow analysis is completed by evaluating the relevant credit and structural aspects of each pooled-trust-preferred security in the portfolio, including collateral performance projections for each piece of collateral in the security and terms of the security’s structure. The credit review includes an analysis of profitability, credit quality, operating efficiency, leverage, and liquidity using available financial and regulatory information for each underlying collateral issuer. The analysis also includes a review of historical industry default data, current / near-term operating conditions, and the impact of macroeconomic and regulatory changes. Using the results of the analysis, the Company estimates appropriate default and recovery probabilities for each piece of collateral then estimates the expected cash flows for each security. The fair value of each security is obtained by discounting the expected cash flows at a market discount rate. The market discount rate is determined by reference to yields observed in the market for similarly rated collateralized debt obligations, specifically high-yield collateralized loan obligations. The relatively high market discount rate is reflective of the uncertainty of the cash flows and illiquid nature of these securities. The large differential between the fair value and amortized cost of some of the securities reflects the high market discount rate and the expectation that the majority of the cash flows will not be received until near the final maturity of the security (the final maturities range from 2032 to 2035). The following table summarizes the relevant characteristics of the Company's CDO securities portfolio, which are included in asset-backed securities, at June 30, 2017. Each security is part of a pool of issuers and supports a more senior tranche of securities except for the MM Comm III securities which are the most senior class. Collateralized Debt Obligation Securities (dollar amounts in thousands)
For the three-month and six-month periods ended June 30, 2017 and 2016, the following table summarizes by security type the total OTTI losses recognized in the Unaudited Condensed Consolidated Statements of Income for securities evaluated for impairment as described above.
The following table presents the OTTI recognized in earnings on debt securities held by Huntington for the three-month and six-month periods ended June 30, 2017 and 2016 as follows:
|
HELD-TO-MATURITY SECURITIES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Held-to-maturity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HELD-TO-MATURITY SECURITIES | HELD-TO-MATURITY SECURITIES These are debt securities that Huntington has the intent and ability to hold until maturity. The debt securities are carried at amortized cost and adjusted for amortization of premiums and accretion of discounts using the interest method. During the 2017 second quarter, Huntington transferred $1.0 billion of mortgage-backed and other agency securities from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The securities were reclassified at fair value at the date of transfer. At the time of the transfer, $13.5 million of unrealized net losses were recognized in OCI. The amounts in OCI will be recognized in earnings over the remaining life of the securities as an offset to the adjustment of yield in a manner consistent with the amortization of the premium on the same transferred securities, resulting in an immaterial impact on net income. Listed below are the contractual maturities of held-to-maturity securities at June 30, 2017 and December 31, 2016:
The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at June 30, 2017 and December 31, 2016:
The following tables provide detail on held-to-maturity securities with unrealized gross losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2017 and December 31, 2016:
Security Impairment Huntington evaluates the held-to-maturity securities portfolio on a quarterly basis for impairment. Impairment exists when the present value of the expected cash flows is not sufficient to recover the entire amortized cost basis at the balance sheet date. Under these circumstances, any impairment would be recognized in earnings. As of June 30, 2017, Management has evaluated held-to-maturity securities with unrealized losses for impairment and concluded no OTTI is required. |
LOAN SALES AND SECURITIZATIONS |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and Servicing [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LOAN SALES AND SECURITIZATIONS | LOAN SALES AND SECURITIZATIONS Residential Mortgage Loans The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and six-month periods ended June 30, 2017 and 2016:
A MSR is established only when the servicing is contractually separated from the underlying mortgage loans by sale or securitization of the loans with servicing rights retained. At initial recognition, the MSR asset is established at its fair value using assumptions consistent with assumptions used to estimate the fair value of existing MSRs. Subsequent to the initial recognition, MSRs may be measured using either the fair value method or the amortization method. The election of the fair value method or amortization method is made at the time each servicing class is established. Subsequently, servicing rights are accounted for based on the methodology chosen for each respective servicing class. Any increase or decrease in the fair value of MSRs carried under the fair value method, as well as amortization or impairment of MSRs recorded using the amortization method, during the period is recorded as an increase or decrease in mortgage banking income, which is reflected in noninterest income in the Unaudited Condensed Consolidated Statements of Income. The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method for the three-month and six-month periods ended June 30, 2017 and 2016:
MSRs do not trade in an active, open market with readily observable prices. While sales of MSRs occur, the precise terms and conditions are typically not readily available. Therefore, the fair value of MSRs is estimated using a discounted future cash flow model. The model considers portfolio characteristics, contractually specified servicing fees and assumptions related to prepayments, delinquency rates, late charges, other ancillary revenues, costs to service, and other economic factors. Changes in the assumptions used may have a significant impact on the valuation of MSRs. MSR values are sensitive to movements in interest rates as expected future net servicing income depends on the projected outstanding principal balances of the underlying loans, which can be greatly impacted by the level of prepayments. Huntington hedges the value of certain MSRs against changes in value attributable to changes in interest rates using a combination of derivative instruments and trading securities. For MSRs under the fair value method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2017 and December 31, 2016, to changes in these assumptions follows:
For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2017 and December 31, 2016, to changes in these assumptions follows:
Total servicing, late and other ancillary fees included in mortgage banking income amounted to $14 million and $12 million for the three-month periods ended June 30, 2017 and 2016, respectively. For the six-month periods ended June 30, 2017 and 2016, total net servicing fees included in mortgage banking income were $28 million and $24 million, respectively. The unpaid principal balance of residential mortgage loans serviced for third parties was $19.1 billion and $18.9 billion at June 30, 2017 and December 31, 2016, respectively. Automobile Loans Huntington has retained servicing responsibilities on sold automobile loans and receives annual servicing fees and other ancillary fees on the outstanding loan balances. Automobile loan servicing rights are accounted for using the amortization method. A servicing asset is established at fair value at the time of the sale. The servicing asset is then amortized against servicing income. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. The primary risk characteristic for measuring servicing assets is payoff rates of the underlying loan pools. Valuation calculations rely on the predicted payoff assumption and, if actual payoff is quicker than expected, then future value would be impaired. Changes in the carrying value of automobile loan servicing rights for the three-month and six-month periods ended June 30, 2017 and 2016, and the fair value at the end of each period were as follows:
A summary of key assumptions and the sensitivity of the automobile loan servicing rights value to changes in these assumptions at June 30, 2017 and December 31, 2016 follows:
Servicing income amounted to $5 million and $2 million for the three-month periods ending June 30, 2017, and 2016, respectively. For the six-month periods ended June 30, 2017 and 2016, total servicing income was $10 million and $5 million, respectively. The unpaid principal balance of automobile loans serviced for third parties was $1.3 billion and $1.7 billion at June 30, 2017 and December 31, 2016, respectively. Small Business Administration (SBA) Portfolio The following table summarizes activity relating to SBA loans sold with servicing retained for the three-month and six-month periods ended June 30, 2017 and 2016:
Huntington has retained servicing responsibilities on sold SBA loans and receives annual servicing fees on the outstanding loan balances. SBA loan servicing rights are accounted for using the amortization method. A servicing asset is established at fair value at the time of the sale using a discounted future cash flow model. The servicing asset is then amortized against servicing income. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. The following tables summarize the changes in the carrying value of the servicing asset for the three-month and six-month periods ended June 30, 2017 and 2016, and the fair value at the end of each period were as follows:
A summary of key assumptions and the sensitivity of the SBA loan servicing rights value to changes in these assumptions at June 30, 2017 and December 31, 2016 follows:
Servicing income amounted to $3 million and $2 million for the three-month periods ending June 30, 2017, and 2016, respectively. For the six-month periods ended June 30, 2017 and 2016, total servicing income was $5 million and $5 million, respectively. The unpaid principal balance of SBA loans serviced for third parties was $1.2 billion and $1.1 billion at June 30, 2017 and December 31, 2016, respectively. |
LONG-TERM DEBT |
6 Months Ended |
---|---|
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
LONG-TERM DEBT | LONG-TERM DEBT In March 2017, the Bank issued $0.7 billion of senior notes at 99.994% of face value. The senior notes mature on March 10, 2020 and have a fixed coupon rate of 2.375%. The senior notes may be redeemed one month prior to the maturity date at 100% of principal plus accrued and unpaid interest. Also, in March 2017, the Bank issued $0.3 billion of senior notes at 100% of face value. The senior notes mature on March 10, 2020 and have a variable coupon rate of three month LIBOR + 51 basis points. |
OTHER COMPREHENSIVE INCOME |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME | OTHER COMPREHENSIVE INCOME The components of other comprehensive income for the three-month and six-month periods ended June 30, 2017 and 2016, were as follows:
The following table presents activity in accumulated other comprehensive income (loss), net of tax, for the six-month periods ended June 30, 2017 and 2016:
The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three-month and six-month periods ended June 30, 2017 and 2016:
|
EARNINGS PER SHARE |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share is the amount of earnings (adjusted for dividends declared on preferred stock) available to each share of common stock outstanding during the reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options, restricted stock units and awards, distributions from deferred compensation plans, and the conversion of the Company’s convertible preferred stock. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive. For diluted earnings per share, net income available to common shares can be affected by the conversion of the Company’s convertible preferred stock. Where the effect of this conversion would be dilutive, net income available to common shareholders is adjusted by the associated preferred dividends and deemed dividend. The calculation of basic and diluted earnings per share for the three and six-month periods ended June 30, 2017 and 2016, was as follows:
For the three-month periods ended June 30, 2017 and 2016, approximately 2.6 million and 4.7 million, respectively, of options to purchase shares of common stock were not included in the computation of diluted earnings per share because the effect would be antidilutive. For the six-month periods ended June 30, 2017 and 2016, approximately 1.8 million and 4.0 million, respectively, were not included. |
BENEFIT PLANS |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BENEFIT PLANS | . BENEFIT PLANS Huntington sponsors a non-contributory defined benefit pension plan covering substantially all employees hired or rehired prior to January 1, 2010. The plan, which was modified in 2013 and no longer accrues service benefits to participants, provides benefits based upon length of service and compensation levels. The funding policy of Huntington is to contribute an annual amount that is at least equal to the minimum funding requirements but not more than the amount deductible under the Internal Revenue Code. There is no required minimum contribution for 2017. In addition, Huntington has an unfunded defined benefit post-retirement plan that provides certain healthcare and life insurance benefits to retired employees who have attained the age of 55 and have at least 10 years of vesting service under this plan. As part of the FirstMerit acquisition, Huntington agreed to assume and honor all FirstMerit benefit plans. The FirstMerit Pension Plan was frozen for nonvested employees and closed to new entrants after December 31, 2006. Effective December 31, 2012, the FirstMerit Pension Plan was frozen for vested employees. Additionally, FirstMerit had a post-retirement benefit plan which provided medical and life insurance for retired employees. For additional information on benefit plans, see the Benefit Plan footnote in our 2016 Form 10-K. The following table shows the components of net periodic (benefit) cost for all plans:
Huntington has a defined contribution plan that is available to eligible employees. Huntington matches participant contributions, up to the first 4% of base pay that is contributed to the defined contribution plan. For 2016, a discretionary profit-sharing contribution equal to 1% of eligible participants’ 2016 base pay was awarded during the 2017 first quarter. Huntington's expense related to the defined contribution plans during the second quarter 2017 and 2016 was $11 million and $8 million, respectively. For the six-month periods ended June 30, 2017 and 2016, expense related to the defined contribution plans were $22 million and $16 million, respectively. |
FAIR VALUES OF ASSETS AND LIABILITIES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUES OF ASSETS AND LIABILITIES | See Note 18 “Fair Value of Assets and Liabilities” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2016 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 three-month and six-month periods ended June 30, 2017 and 2016. Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at June 30, 2017 and December 31, 2016 are summarized below:
The tables below present a rollforward of the balance sheet amounts for the three-month and six-month periods ended June 30, 2017 and 2016, for financial instruments measured on a recurring basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable inputs to the overall fair value measurement. However, Level 3 measurements may also include observable components of value that can be validated externally. Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology.
The tables below summarize the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the three-month and six-month periods ended June 30, 2017 and 2016:
Assets and liabilities under the fair value option The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option:
The following tables present the net gains (losses) from fair value changes for the three-month and six-month periods ended June 30, 2017 and 2016:
Assets and Liabilities measured at fair value on a nonrecurring basis Certain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. For the six months ended June 30, 2017, assets measured at fair value on a nonrecurring basis were as follows:
MSRs accounted for under the amortization method are subject to nonrecurring fair value measurement when the fair value is lower than the carrying amount. Periodically, Huntington records nonrecurring adjustments of collateral-dependent loans measured for impairment when establishing the ACL. Such amounts are generally based on the fair value of the underlying collateral supporting the loan. Appraisals are generally obtained to support the fair value of the collateral and incorporate measures such as recent sales prices for comparable properties and cost of construction. In cases where the carrying value exceeds the fair value of the collateral less cost to sell, an impairment charge is recognized. Other real estate owned properties are included in accrued income and other assets and valued based on appraisals and third party price opinions, less estimated selling costs. Significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis The table below presents quantitative information about the significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis at June 30, 2017 and December 31, 2016:
The following provides a general description of the impact of a change in an unobservable input on the fair value measurement and the interrelationship between unobservable inputs, where relevant/significant. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. A significant change in the unobservable inputs may result in a significant change in the ending fair value measurement of Level 3 instruments. In general, prepayment rates increase when market interest rates decline and decrease when market interest rates rise and higher prepayment rates generally result in lower fair values for MSR assets, Asset-backed securities, and Automobile loans. Credit loss estimates, such as probability of default, constant default, cumulative default, loss given default, cure given deferral, and loss severity, are driven by the ability of the borrowers to pay their loans and the value of the underlying collateral and are impacted by changes in macroeconomic conditions, typically increasing when economic conditions worsen and decreasing when conditions improve. An increase in the estimated prepayment rate typically results in a decrease in estimated credit losses and vice versa. Higher credit loss estimates generally result in lower fair values. Credit spreads generally increase when liquidity risks and market volatility increase and decrease when liquidity conditions and market volatility improve. Discount rates and spread over forward interest rate swap rates typically increase when market interest rates increase and/or credit and liquidity risks increase and decrease when market interest rates decline and/or credit and liquidity conditions improve. Higher discount rates and credit spreads generally result in lower fair market values. Net market price and pull through percentages generally increase when market interest rates increase and decline when market interest rates decline. Higher net market price and pull through percentages generally result in higher fair values. Fair values of financial instruments The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments that are carried either at fair value or cost at June 30, 2017 and December 31, 2016:
The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntington’s financial instruments that are not already on the Unaudited Condensed Consolidated Balance Sheets at fair value at June 30, 2017 and December 31, 2016:
The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include trading account securities, customers’ acceptance liabilities, short-term borrowings, bank acceptances outstanding, FHLB advances, and cash and short-term assets, which include cash and due from banks, interest-bearing deposits in banks, and federal funds sold and securities purchased under resale agreements. Loan commitments and letters-of-credit generally have short-term, variable-rate features and contain clauses that limit Huntington’s exposure to changes in customer credit quality. Accordingly, their carrying values, which are immaterial at the respective balance sheet dates, are reasonable estimates of fair value. Certain assets, the most significant being operating lease assets, bank owned life insurance, and premises and equipment, do not meet the definition of a financial instrument and are excluded from this disclosure. Similarly, mortgage and nonmortgage servicing rights, deposit base, and other customer relationship intangibles are not considered financial instruments and are not included above. Accordingly, this fair value information is not intended to, and does not, represent Huntington’s underlying value. Many of the assets and liabilities subject to the disclosure requirements are not actively traded, requiring fair values to be estimated by Management. These estimations necessarily involve the use of judgment about a wide variety of factors, including but not limited to, relevancy of market prices of comparable instruments, expected future cash flows, and appropriate discount rates. The following methods and assumptions were used by Huntington to estimate the fair value of the remaining classes of financial instruments: Held-to-maturity securities Fair values are determined by using models that are based on security-specific details, as well as relevant industry and economic factors. The most significant of these inputs are quoted market prices, and interest rate spreads on relevant benchmark securities. Loans and Direct Financing Leases Variable-rate loans that reprice frequently are based on carrying amounts, as adjusted for estimated credit losses. The fair values for other loans and leases are estimated using discounted cash flow analyses and employ interest rates currently being offered for loans and leases with similar terms. The rates take into account the position of the yield curve, as well as an adjustment for prepayment risk, operating costs, and profit. This value is also reduced by an estimate of expected losses and the credit risk associated in the loan and lease portfolio. The valuation of the loan portfolio reflected discounts that Huntington believed are consistent with transactions occurring in the marketplace. Deposits Demand deposits, savings accounts, and money market deposits are, by definition, equal to the amount payable on demand. The fair values of fixed-rate time deposits are estimated by discounting cash flows using interest rates currently being offered on certificates with similar maturities. Debt Long-term debt is based upon quoted market prices, which are inclusive of Huntington’s credit risk. In the absence of quoted market prices, discounted cash flows using market rates for similar debt with the same maturities are used in the determination of fair value. |
DERIVATIVE FINANCIAL INSTRUMENTS |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are recorded in the Unaudited Condensed Consolidated Balance Sheets as either an asset or a liability (in accrued income and other assets or accrued expenses and other liabilities, respectively) and measured at fair value. The following table presents the fair values of all derivative instruments included in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2017 and December 31, 2016. Amounts in the table below are presented gross without the impact of any net collateral arrangements:
Derivatives used in Asset and Liability Management Activities Huntington engages in balance sheet hedging activity, principally for asset and liability management purposes, to convert fixed rate assets or liabilities into floating rate or vice versa. Balance sheet hedging activity is arranged to receive hedge accounting treatment and is classified as either fair value or cash flow hedges. Fair value hedges are purchased to convert deposits and subordinated and other long-term debt from fixed-rate obligations to floating rate. Cash flow hedges are also used to convert floating rate loans made to customers into fixed rate loans. The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at June 30, 2017, identified by the underlying interest rate-sensitive instruments:
The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at June 30, 2017:
These derivative financial instruments were entered into for the purpose of managing the interest rate risk of assets and liabilities. Consequently, net amounts receivable or payable on contracts hedging either interest earning assets or interest bearing liabilities were accrued as an adjustment to either interest income or interest expense. The net amounts resulted in an increase to net interest income of $6 million and $19 million for the three-month periods ended June 30, 2017, and 2016, respectively. For the six-month periods ended June 30, 2017, and 2016, the net amounts resulted in an increase to net interest income of $16 million and $40 million, respectively. Fair Value Hedges The changes in fair value of the fair value hedges are, to the extent that the hedging relationship is effective, recorded through earnings and offset against changes in the fair value of the hedged item. The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item for the three-month and six-month periods ended June 30, 2017 and 2016:
Cash Flow Hedges To the extent these derivatives designated as cash flow hedges are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value will not be included in current earnings but are reported as a component of OCI in the Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity. These changes in fair value will be included in earnings of future periods when earnings are also affected by the changes in the hedged cash flows. To the extent these derivatives are not effective, changes in their fair values are immediately included in noninterest income. The following table presents the gains and (losses) recognized in OCI and the location in the Unaudited Condensed Consolidated Statements of Income of gains and (losses) reclassified from OCI into earnings for derivatives designated as effective cash flow hedges for the three-month and six-month periods ended June 30, 2017 and 2016:
Gains and losses on swaps related to loans and investment securities and swaps related to subordinated debt are recorded within interest income and interest expense, respectively. During the next twelve months, Huntington expects to reclassify to earnings approximately $(2) million after-tax of unrealized gains (losses) on cash flow hedging derivatives currently in OCI. The following table presents the gains and (losses) recognized in noninterest income for the ineffective portion of interest rate contracts for derivatives designated as cash flow hedges for the three and six-month periods ended June 30, 2017 and 2016:
Derivatives used in mortgage banking activities Mortgage loan origination hedging activity Huntington’s mortgage origination hedging activity is related to the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. The value of a newly originated mortgage is not firm until the interest rate is committed or locked. The interest rate lock commitments are derivative positions offset by forward commitments to sell loans. Huntington uses two types of mortgage-backed securities in its forward commitments to sell loans. The first type of forward commitment is a “To Be Announced” (or TBA), the second is a “Specified Pool” mortgage-backed security. Huntington uses these derivatives to hedge the value of mortgage-backed securities until they are sold. The following table summarizes the derivative assets and liabilities used in mortgage banking activities:
MSR hedging activity Huntington’s MSR economic hedging activity uses securities and derivatives to manage the value of the MSR asset and to mitigate the various types of risk inherent in the MSR asset, including risks related to duration, basis, convexity, volatility, and yield curve. The hedging instruments include forward commitments, interest rate swaps, and options on interest rate swaps. The total notional value of these derivative financial instruments at June 30, 2017 and December 31, 2016, was $228 million and $300 million, respectively. The total notional amount at June 30, 2017, corresponds to trading assets with a fair value of $1 million and trading liabilities with a fair value of $2 million. Net trading gains and (losses) related to MSR hedging for the three-month periods ended June 30, 2017 and 2016, were $2 million and $6 million and $1 million and $18 million for the six-month periods ended June 30, 2017 and 2016, respectively. These amounts are included in mortgage banking income in the Unaudited Condensed Consolidated Statements of Income. Derivatives used in customer related activities Various derivative financial instruments are offered to enable customers to meet their financing and investing objectives and for their risk management purposes. Derivative financial instruments used in trading activities consisted of commodity, interest rate, and foreign exchange contracts. Huntington may enter into offsetting third-party contracts with approved, reputable counterparties with substantially matching terms and currencies in order to economically hedge significant exposure related to derivatives used in trading activities. The interest rate risk of customer derivatives is mitigated by entering into similar derivatives having offsetting terms with other counterparties. The credit risk to these customers is evaluated and included in the calculation of fair value. Foreign currency derivatives help the customer hedge risk and reduce exposure to fluctuations in exchange rates. Transactions are primarily in liquid currencies with Canadian dollars and Euros comprising a majority of all transactions. Commodity derivatives help the customer hedge risk and reduce exposure to fluctuations in the price of various commodities. Hedging of energy related products and base metals comprise the majority of all transactions. The net fair values of these derivative financial instruments, for which the gross amounts are included in accrued income and other assets or accrued expenses and other liabilities at both June 30, 2017 and December 31, 2016, were $80 million and $80 million, respectively. The total notional values of derivative financial instruments used by Huntington on behalf of customers, including offsetting derivatives, were $20.6 billion and $20.6 billion at both June 30, 2017 and December 31, 2016, respectively. Huntington’s credit risk from interest rate swaps used for trading purposes was $156 million and $196 million at the same dates, respectively. Share Swap Economic Hedge Huntington acquires and holds shares of Huntington common stock in a Rabbi Trust for the Executive Deferred Compensation Plan. Huntington common stock held in the Rabbi Trust is recorded at cost and the corresponding deferred compensation liability is recorded at fair value using Huntington's share price as a significant input. During the second quarter of 2016, Huntington entered into an economic hedge with a $20 million notional amount to hedge deferred compensation expense related to the Executive Deferred Compensation Plan. During the second quarter of 2017, Huntington entered into another economic hedge with a notional value of $8 million for a total notional amount of $28 million to hedge deferred compensation expense related to the Executive Deferred Compensation Plan. The economic hedge is recorded at fair value within other assets or liabilities. Changes in the fair value are recorded directly through other noninterest expense in the Unaudited Condensed Consolidated Statements of Income. At June 30, 2017, the fair value of the share swap was $11 million. Visa Related Swap In connection with the sale of Huntington’s Class B Visa® shares, Huntington entered into a swap agreement with the purchaser of the shares. The swap agreement adjusts for dilution in the conversion ratio of Class B shares resulting from the Visa® litigation. In connection with the FirstMerit acquisition, Huntington acquired an additional Visa® related swap agreement. At June 30, 2017, the combined fair value of the swap liabilities of $6 million is an estimate of the exposure liability based upon Huntington’s assessment of the potential Visa® litigation losses and timing of litigation settlement. Financial assets and liabilities that are offset in the Unaudited Condensed Consolidated Balance Sheets Huntington records derivatives at fair value as further described in Note 11. Derivative balances are presented on a net basis taking into consideration the effects of legally enforceable master netting agreements. Additionally, collateral exchanged with counterparties is also netted against the applicable derivative fair values. Huntington enters into derivative transactions with two primary groups: broker-dealers and banks, and Huntington’s customers. Different methods are utilized for managing counterparty credit exposure and credit risk for each of these groups. Huntington enters into transactions with broker-dealers and banks for various risk management purposes. These types of transactions generally are high dollar volume. Huntington enters into bilateral collateral and master netting agreements with these counterparties, and routinely exchanges cash and high quality securities collateral. Huntington enters into transactions with customers to meet their financing, investing, payment and risk management needs. These types of transactions generally are low dollar volume. Huntington generally enters into master netting agreements with customer counterparties, however collateral is generally not exchanged. At June 30, 2017 and December 31, 2016, aggregate credit risk associated with these derivatives, net of collateral that has been pledged by the counterparty, was $44 million and $26 million, respectively. The credit risk associated with interest rate swaps is calculated after considering master netting agreements with broker-dealers and banks. At June 30, 2017, Huntington pledged $120 million of investment securities and cash collateral to counterparties, while other counterparties pledged $53 million of investment securities and cash collateral to Huntington to satisfy collateral netting agreements. In the event of credit downgrades, Huntington would not be required to provide additional collateral. The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2017 and December 31, 2016:
|
VIEs |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VIEs | VIEs Consolidated VIEs Consolidated VIEs at June 30, 2017, consisted of certain loan and lease securitization trusts. Huntington has determined the trusts are VIEs. Huntington has concluded that it is the primary beneficiary of these trusts because it has the power to direct the activities of the entity that most significantly affect the entity’s economic performance and it has either the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. The following tables present the carrying amount and classification of the consolidated trusts’ assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2017 and December 31, 2016:
The loans and leases were designated to repay the securitized notes. Huntington services the loans and leases and uses the proceeds from principal and interest payments to pay the securitized notes during the amortization period. Huntington has not provided financial or other support that was not previously contractually required. Unconsolidated VIEs The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Condensed Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary, to the VIE at June 30, 2017, and December 31, 2016:
The following table provides a summary of automobile transfers to trusts in separate securitization transactions.
The securitizations and the resulting sale of all underlying securities qualified for sale accounting. Huntington has concluded that it is not the primary beneficiary of these trusts because it has neither the obligation to absorb losses of the entities that could potentially be significant to the VIEs nor the right to receive benefits from the entities that could potentially be significant to the VIEs. Huntington is not required and does not currently intend to provide any additional financial support to the trusts. Investors and creditors only have recourse to the assets held by the trusts. The interest Huntington holds in the VIEs relates to servicing rights which are included within servicing rights of Huntington’s Unaudited Consolidated Balance Sheets. The maximum exposure to loss is equal to the carrying value of the servicing asset. See Note 6 for more information. Trust Preferred Securities Huntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not included within Huntington’s Unaudited Condensed Consolidated Financial Statements. These trusts have been formed for the sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior subordinated debentures, which are reflected in Huntington’s Unaudited Condensed Consolidated Balance Sheets as subordinated notes. The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Unaudited Condensed Consolidated Financial Statements. A list of trust preferred securities outstanding at June 30, 2017 follows:
Each issue of the junior subordinated debentures has an interest rate equal to the corresponding trust securities distribution rate. Huntington has the right to defer payment of interest on the debentures at any time, or from time-to-time for a period not exceeding five years provided that no extension period may extend beyond the stated maturity of the related debentures. During any such extension period, distributions to the trust securities will also be deferred and Huntington’s ability to pay dividends on its common stock will be restricted. Periodic cash payments and payments upon liquidation or redemption with respect to trust securities are guaranteed by Huntington to the extent of funds held by the trusts. The guarantee ranks subordinate and junior in right of payment to all indebtedness of the Company to the same extent as the junior subordinated debt. The guarantee does not place a limitation on the amount of additional indebtedness that may be incurred by Huntington. Low Income Housing Tax Credit Partnerships Huntington makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (LIHTC) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity. Huntington uses the proportional amortization method to account for all qualified investments in these entities. These investments are included in accrued income and other assets. Investments that do not meet the requirements of the proportional amortization method are recognized using the equity method. Investment gains/losses related to these investments are included in noninterest-income in the Unaudited Condensed Consolidated Statements of Income. The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at June 30, 2017 and December 31, 2016:
The following table presents other information relating to Huntington’s affordable housing tax credit investments for the three-month and six-month periods ended June 30, 2017 and 2016:
Huntington recognized immaterial impairment losses on tax credit investments during the three-month and six-month periods ended June 30, 2017 and 2016. The impairment losses recognized related to the fair value of the tax credit investments that were less than carrying value. Other Investments Other investments determined to be VIE’s include investments in New Market Tax Credit Investments, Historic Tax Credit Investments, Small Business Investment Companies, Rural Business Investment Companies, certain equity method investments and other miscellaneous investments. |
COMMITMENTS AND CONTINGENT LIABILITIES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
COMMITMENTS AND CONTINGENT LIABILITIES | COMMITMENTS AND CONTINGENT LIABILITIES Commitments to extend credit In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Condensed Consolidated Financial Statements. The contract amounts of these financial agreements at June 30, 2017 and December 31, 2016, were as follows:
Commitments to extend credit generally have fixed expiration dates, are variable-rate, and contain clauses that permit Huntington to terminate or otherwise renegotiate the contracts in the event of a significant deterioration in the customer’s credit quality. These arrangements normally require the payment of a fee by the customer, the pricing of which is based on prevailing market conditions, credit quality, probability of funding, and other relevant factors. Since many of these commitments are expected to expire without being drawn upon, the contract amounts are not necessarily indicative of future cash requirements. The interest rate risk arising from these financial instruments is insignificant as a result of their predominantly short-term, variable-rate nature. Standby letters-of-credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Most of these arrangements mature within two years. The carrying amount of deferred revenue associated with these guarantees was $8 million and $8 million at June 30, 2017 and December 31, 2016, respectively. Commercial letters-of-credit represent short-term, self-liquidating instruments that facilitate customer trade transactions and generally have maturities of no longer than 90 days. The goods or cargo being traded normally secures these instruments. Commitments to sell loans Activity related to our mortgage origination activity supports the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. At June 30, 2017 and December 31, 2016, Huntington had commitments to sell residential real estate loans of $1.1 billion and $0.8 billion, respectively. These contracts mature in less than one year. Litigation The nature of Huntington’s business ordinarily results in a certain amount of pending as well as threatened claims, litigation, investigations, regulatory and legal and administrative cases, matters and proceedings, all of which are considered incidental to the normal conduct of business. When the Company determines it has meritorious defenses to the claims asserted, it vigorously defends itself. The Company considers settlement of cases when, in Management’s judgment, it is in the best interests of both the Company and its shareholders to do so. On at least a quarterly basis, Huntington assesses its liabilities and contingencies in connection with threatened and outstanding legal cases, matters and proceedings, utilizing the latest information available. For cases, matters and proceedings where it is both probable the Company will incur a loss and the amount can be reasonably estimated, Huntington establishes an accrual for the loss. Once established, the accrual is adjusted as appropriate to reflect any relevant developments. For cases, matters or proceedings where a loss is not probable or the amount of the loss cannot be estimated, no accrual is established. In certain cases, matters and proceedings, exposure to loss exists in excess of the accrual to the extent such loss is reasonably possible, but not probable. Management believes an estimate of the aggregate range of reasonably possible losses, in excess of amounts accrued, for current legal proceedings is up to $70 million at June 30, 2017. For certain other cases, and matters, Management cannot reasonably estimate the possible loss at this time. Any estimate involves significant judgment, given the varying stages of the proceedings (including the fact that many of them are currently in preliminary stages), the existence of multiple defendants in several of the current proceedings whose share of liability has yet to be determined, the numerous unresolved issues in many of the proceedings, and the inherent uncertainty of the various potential outcomes of such proceedings. Accordingly, Management’s estimate will change from time-to-time, and actual losses may be more or less than the current estimate. $0 While the final outcome of legal cases, matters, and proceedings is inherently uncertain, based on information currently available, advice of counsel, and available insurance coverage, Management believes that the amount it has already accrued is adequate and any incremental liability arising from the Company’s legal cases, matters, or proceedings will not have a material negative adverse effect on the Company’s consolidated financial position as a whole. However, in the event of unexpected future developments, it is possible that the ultimate resolution of these cases, matters, and proceedings, if unfavorable, may be material to the Company’s consolidated financial position in a particular period. Meoli v. The Huntington National Bank (Cyberco Litigation). The Bank has been named a defendant in a lawsuit arising from the Banks’s commercial lending, depository, and equipment leasing relationships with Cyberco Holdings, Inc. (Cyberco), based in Grand Rapids, Michigan. In November 2004, an equipment leasing fraud was uncovered, whereby Cyberco sought financing from equipment lessors and financial institutions, including Huntington, allegedly to purchase computer equipment from Teleservices Group, Inc. (Teleservices). Cyberco created fraudulent documentation to close the financing transactions when, in fact, no computer equipment was ever purchased or leased from Teleservices, which later proved to be a shell corporation. Bankruptcy proceedings for both Cyberco and Teleservices later ensued. On September 28, 2015, adopting the bankruptcy court's recommendation, the U.S. District Court for the Western District of Michigan entered a judgment against Huntington in the amount of $72 million plus costs and pre- and post-judgment interest. Huntington increased its legal reserve by approximately $38 million to fully accrue for the amount of the judgment in the third quarter of 2015 while appealing the decision to the U.S. Sixth Circuit Court of Appeals. On February 8, 2017, the appellate court reversed the district court decision in part and remanded the case to the district court for further proceedings. Consistent with its reading of the appellate court opinion, Huntington decreased its legal reserve by approximately $42 million in the fourth quarter of 2016. Powell v. Huntington National Bank. Huntington is a defendant in a class action filed on October 15, 2013 alleging Huntington charged late fees on mortgage loans in a method that violated West Virginia law and the loan documents. Plaintiffs seek statutory civil penalties, compensatory damages and attorney’s fees. Huntington filed a motion for summary judgment on the plaintiffs’ claims, which was granted by the U.S. District Court on December 28, 2016. Plaintiffs have filed a notice of appeal to the U.S. Fourth Circuit Court of Appeals and the appeal has been briefed. Oral arguments are scheduled for October 2017. FirstMerit Overdraft Litigation. Commencing in December 2010, two separate lawsuits were filed in the Summit County Court of Common Pleas and the Lake County Court of Common Pleas against FirstMerit. The complaints were brought as class actions on behalf of Ohio residents who maintained a checking account at FirstMerit and who incurred one or more overdraft fees as a result of the alleged re-sequencing of debit transactions. The parties have reached a global settlement for approximately $9 million cash to a common fund plus an additional $7 million in debt forgiveness. Attorneys' fees will be paid from the fund, with any remaining funds going to charity. FirstMerit’s insurer has reimbursed Huntington 49% of the approximately $9 million, which totals approximately $4.4 million. The court preliminarily approved the settlement on December 5, 2016 and the cash portion of the settlement was funded on December 12, 2016. The settlement received final approval on June 2, 2017 and there has been no appeal, so the settlement is final. The settlement administrator is in the process of assessing claims and it is anticipated claims will be paid from the settlement fund in the third quarter of 2017. |
SEGMENT REPORTING |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SEGMENT REPORTING | SEGMENT REPORTING Our business segments are based on our internally-aligned segment leadership structure, which is how we monitor results and assess performance. We have four major business segments: Consumer and Business Banking, Commercial Banking, Commercial Real Estate and Vehicle Finance (CREVF), Regional Banking and The Huntington Private Client Group, and (RBHPCG). The Treasury / Other function includes our technology and operations, other unallocated assets, liabilities, revenue, and expense. Business segment results are determined based upon our management reporting system, which assigns balance sheet and income statement items to each of the business segments. The process is designed around our organizational and management structure and, accordingly, the results derived are not necessarily comparable with similar information published by other financial institutions. Additionally, because of the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. Revenue is recorded in the business segment responsible for the related product or service. Fee sharing is recorded to allocate portions of such revenue to other business segments involved in selling to, or providing service to customers. Results of operations for the business segments reflect these fee sharing allocations. The management accounting process that develops the business segment reporting utilizes various estimates and allocation methodologies to measure the performance of the business segments. Expenses are allocated to business segments using a two-phase approach. The first phase consists of measuring and assigning unit costs (activity-based costs) to activities related to product origination and servicing. These activity-based costs are then extended, based on volumes, with the resulting amount allocated to business segments that own the related products. The second phase consists of the allocation of overhead costs to all four business segments from Treasury / Other. We utilize a full-allocation methodology, where all Treasury / Other expenses, except reported Significant Items, and a small amount of other residual unallocated expenses, are allocated to the four business segments. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, reported segment results are not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures result in changes in reported segment financial data. Accordingly, certain amounts have been reclassified to conform to the current period presentation. We use an active and centralized Funds Transfer Pricing (FTP) methodology to attribute appropriate income to the business segments. The intent of the FTP methodology is to transfer interest rate risk from the business segments by providing matched duration funding of assets and liabilities. The result is to centralize the financial impact, management, and reporting of interest rate risk in the Treasury / Other function where it can be centrally monitored and managed. The Treasury / Other function charges (credits) an internal cost of funds for assets held in (or pays for funding provided by) each business segment. The FTP rate is based on prevailing market interest rates for comparable duration assets (or liabilities). We announced a change within our executive leadership team, which became effective during the 2017 second quarter. As a result, the previously reported Home Lending segment is now included as an operating unit in the Consumer and Business Banking segment. Additionally, the Insurance operating unit previously included in Commercial Banking was realigned to RBHPCG during the quarter. Prior period results have been reclassified to conform to the current period presentation. Consumer and Business Banking - The Consumer and Business Banking segment, including Home Lending, provides a wide array of financial products and services to consumer and small business customers including but not limited to checking accounts, savings accounts, money market accounts, certificates of deposit, mortgage loans, consumer loans, credit cards, and small business loans and investment products. Other financial services available to consumer and small business customers include mortgages, insurance, interest rate risk protection, foreign exchange, and treasury management. Business Banking is defined as serving companies with revenues up to $20 million and consists of approximately 254,000 businesses. Home Lending supports origination and servicing of consumer loans and mortgages for customers who are generally located in our primary banking markets across all segments. Commercial Banking - Through a relationship banking model, this segment provides a wide array of products and services to the middle market, large corporate, and government public sector customers located primarily within our geographic footprint. The segment is divided into six business units: middle market, large corporate, specialty banking, asset finance, capital markets and treasury management. Commercial Real Estate and Vehicle Finance - This segment provides lending and other banking products and services to customers outside of our traditional retail and commercial banking segments. Our products and services include providing financing for the purchase of automobiles, light-duty trucks, recreational vehicles and marine craft at franchised dealerships, financing the acquisition of new and used vehicle inventory of franchised automotive dealerships, and financing for land, buildings, and other commercial real estate owned or constructed by real estate developers, automobile dealerships, or other customers with real estate project financing needs. Products and services are delivered through highly specialized relationship-focused bankers and product partners. Regional Banking and The Huntington Private Client Group - The core business of The Huntington Private Client Group is The Huntington Private Bank, which consists of Private Banking, Wealth & Investment Management, and Retirement plan services. The Huntington Private Bank provides high net-worth customers with deposit, lending (including specialized lending options), and banking services. The Huntington Private Bank delivers wealth management and legacy planning through investment and portfolio management, fiduciary administration, and trust services. This group also provides retirement plan services to corporate businesses. The Huntington Private Client Group provides corporate trust services and institutional and mutual fund custody services and insurance services. Listed below is certain operating basis financial information reconciled to Huntington’s June 30, 2017, December 31, 2016, and June 30, 2016, reported results by business segment:
|
ACCOUNTING STANDARDS UPDATE (Policies) |
6 Months Ended |
---|---|
Jun. 30, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
ACCOUNTING STANDARDS UPDATE | ACCOUNTING STANDARDS UPDATE ASU 2014-09—Revenue from Contracts with Customers (Topic 606): The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of the amendments require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach for revenue recognition. The amendments are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Management intends to adopt the new guidance on January 1, 2018 using the modified retrospective approach and is well into its outlined implementation plan. In this regard, management has completed a preliminary analysis that includes (a) identification of all revenue streams included in the financial statements; (b) determination of scope exclusions to identify ‘in-scope’ revenue streams; (c) determination of size, timing, and amount of revenue recognition for in-scope items; (d) determination of sample size of contracts for further analysis; and (e) completion of limited analysis on selected contracts to evaluate the potential impact of the new guidance. The key revenue streams identified include service charges, credit card and payment processing fees, trust services fees, insurance income, brokerage services, and mortgage banking income. The new guidance is not expected to have a significant impact on Huntington’s Unaudited Consolidated Financial Statements. ASU 2016-01 - Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this Update make targeted improvements to GAAP including, but not limited to, requiring an entity to measure its equity investments with changes in the fair value recognized in the income statement; requiring an entity to present separately in OCI the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments (i.e., FVO liability); requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; assessing deferred tax assets related to a net unrealized loss on AFS securities in combination with the entity’s other deferred tax assets; and eliminating some of the disclosures required by the existing GAAP while requiring entities to present and disclose some additional information. The new guidance is effective for the fiscal period beginning after December 15, 2017, including interim periods within those fiscal years. An entity should apply the amendments as a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendment is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. ASU 2016-02 - Leases. This Update sets forth a new lease accounting model for lessors and lessees. For lessees, virtually all leases will be required to be recognized on the balance sheet by recording a right-of-use asset and lease liability. Subsequent accounting for leases varies depending on whether the lease is an operating lease or a finance lease. The accounting applied by a lessor is largely unchanged from that applied under the existing guidance. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Update is effective for the fiscal period beginning after December 15, 2018, with early application permitted. Management is currently assessing the impact of the new guidance on Huntington's Unaudited Consolidated Financial Statements. Huntington expects to recognize a right-of-use asset and a lease liability for its operating lease commitments. ASU 2016-13 - Financial Instruments - Credit Losses. The amendments in this Update eliminate the probable recognition threshold for credit losses on financial assets measured at amortized cost. The Update requires those financial assets to be presented at the net amount expected to be collected (i.e., net of expected credit losses). The measurement of expected credit losses should be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. The Update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. The amendments should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Management currently intends to adopt the guidance on January 1, 2020 and is assessing the impact of this Update on Huntington's Unaudited Consolidated Financial Statements. Management has formed a working group comprised of teams from different disciplines including credit and finance. The working group is currently evaluating the requirements of the new standard and the impact it will have on our processes. The early stages of this evaluation include a review of existing credit models to identify areas where existing credit models used to comply with other regulatory requirements may be leveraged and areas where new impairment models may be required. ASU 2016-15 - Classification of Certain Cash Receipts and Cash Payments. The amendments in this Update add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. Current guidance lacks consistent principles for evaluating the classification of cash payments and receipts in the statement of cash flows. This has led to diversity in practice and, in certain circumstances, financial statement restatements. Therefore, the FASB issued the ASU with the intent of reducing diversity in practice with respect to several types of cash flows. The amendments in this Update are effective using a retrospective transition approach for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. This Update is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. ASU 2017-04 - Simplifying the Test for Goodwill Impairment. The Update simplifies the goodwill impairment test. Under the new guidance, Step 2 of the goodwill impairment process that requires an entity to determine the implied fair value of its goodwill by assigning fair value to all its assets and liabilities, is eliminated. Instead, the entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The new guidance is effective for annual and interim goodwill tests performed in fiscal years beginning after December 15, 2019. Early adoption is permitted. The amendment is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. ASU 2017-07 - Improving the Presentation of Net Periodic Pension Cost and Periodic Postretirement Benefit Cost. The amendments in this Update require that an employer report the service cost component of the pension cost and postretirement benefit cost in the same line items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of the net benefit cost should be presented in the income statement separately from the service cost component. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted as of the beginning of an annual period for which financial statements have not been issued or made available for issuance. This Update is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. ASU 2017-09 - Stock Compensation Modification Accounting. The Update reduces the current diversity in practice and provides explicit guidance pertaining to the provisions of modification accounting. The Update clarifies that an entity should account for effects of modification unless the fair value, vesting conditions and the classification of the modified award are the same as of the original awards immediately before the original award is modified. The Update is effective prospectively for annual periods and interim periods within those annual periods, beginning after December 15, 2017. Earlier application is permitted. The Update is not expected to have a significant impact on Huntington's Unaudited Consolidated Financial Statements. |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan and Lease Portfolio | The following table provides a detailed listing of Huntington’s loan and lease portfolio at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | The following table presents a rollforward of the accretable yield for purchased credit impaired loans for the three-month and six-month period ended June 30, 2017: and 2016:
The following table reflects the ending and unpaid balances of the purchase credit impaired loans at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan Purchases and Sales | During the second quarter 2017, an allowance for loan losses was recorded on the Commercial and industrial purchased credit-impaired portfolio for $1 million. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NALs and Past Due Loans | The following table presents NALs by loan class at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aging analysis of loans and leases | The following table presents an aging analysis of loans and leases, including past due loans, by loan class at June 30, 2017 and December 31, 2016: (1)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALLL and AULC activity by portfolio segment | The following table presents ALLL and AULC activity by portfolio segment for the three-month and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan and lease balances by credit quality indicator | The following table presents each loan and lease class by credit quality indicator at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summarized data for impaired loans and the related ALLL by portfolio segment | The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Detailed impaired loan information by class | The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for impaired loans and leases and purchased credit-impaired loans: (1), (2)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Detailed troubled debt restructuring information by class | The following table presents by class and modification type, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the three-month and six-month periods ended June 30, 2017 an 2016:
(2)Amount represents the financial impact via provision for loan and lease losses as a result of the modificati |
AVAILABLE-FOR-SALE AND OTHER SECURITIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual maturities of investment securities | Listed below are the contractual maturities of available-for-sale and other securities at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment category at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available for sale securities in an unrealized loss position table text block | The following tables provide detail on investment securities with unrealized gross losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized securities gains and losses | The following table is a summary of realized securities gains and losses for the three-month and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trust Preferred Securities Data | The following table summarizes the relevant characteristics of the Company's CDO securities portfolio, which are included in asset-backed securities, at June 30, 2017. Each security is part of a pool of issuers and supports a more senior tranche of securities except for the MM Comm III securities which are the most senior class. Collateralized Debt Obligation Securities (dollar amounts in thousands)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of other than temporary impairment | For the three-month and six-month periods ended June 30, 2017 and 2016, the following table summarizes by security type the total OTTI losses recognized in the Unaudited Condensed Consolidated Statements of Income for securities evaluated for impairment as described above.
The following table presents the OTTI recognized in earnings on debt securities held by Huntington for the three-month and six-month periods ended June 30, 2017 and 2016 as follows:
|
HELD-TO-MATURITY SECURITIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Held-to-maturity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual maturities of held-to-maturity securities | Listed below are the contractual maturities of held-to-maturity securities at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized cost, gross unrealized gains and losses, and fair value by investment category | The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities in an unrealized loss position | The following tables provide detail on held-to-maturity securities with unrealized gross losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2017 and December 31, 2016:
|
LOAN SALES AND SECURITIZATIONS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and Servicing [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summarizes activity relating to loans securitized sold with servicing retained | The following table summarizes activity relating to SBA loans sold with servicing retained for the three-month and six-month periods ended June 30, 2017 and 2016:
The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summarizes activity relating to loans sold with servicing retained using the fair value method | The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method for the three-month and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summarizes activity relating to loans sold with servicing retained using the amortization method |
Changes in the carrying value of automobile loan servicing rights for the three-month and six-month periods ended June 30, 2017 and 2016, and the fair value at the end of each period were as follows:
The following tables summarize the changes in the carrying value of the servicing asset for the three-month and six-month periods ended June 30, 2017 and 2016, and the fair value at the end of each period were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of key assumptions and the sensitivity of the servicing rights value to changes in the assumptions | A summary of key assumptions and the sensitivity of the automobile loan servicing rights value to changes in these assumptions at June 30, 2017 and December 31, 2016 follows:
For MSRs under the fair value method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2017 and December 31, 2016, to changes in these assumptions follows:
For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2017 and December 31, 2016, to changes in these assumptions follows:
A summary of key assumptions and the sensitivity of the SBA loan servicing rights value to changes in these assumptions at June 30, 2017 and December 31, 2016 follows:
|
OTHER COMPREHENSIVE INCOME (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of other comprehensive income | The components of other comprehensive income for the three-month and six-month periods ended June 30, 2017 and 2016, were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Activity in accumulated other comprehensive income, net of tax | The following table presents activity in accumulated other comprehensive income (loss), net of tax, for the six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassification Out Of Accumulated OCI | The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three-month and six-month periods ended June 30, 2017 and 2016:
|
EARNINGS PER SHARE (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic and diluted earnings loss per share | The calculation of basic and diluted earnings per share for the three and six-month periods ended June 30, 2017 and 2016, was as follows:
|
BENEFIT PLANS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Benefit Costs | The following table shows the components of net periodic (benefit) cost for all plans:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Costs of Retirement Plans | defined contribution plans during the second quarter 2017 and 2016 was $11 million and $8 million, respectively. For the six-month periods ended June 30, 2017 and 2016, expense related to the defined contribution plans were $22 million and $16 million, respectively. |
FAIR VALUES OF ASSETS AND LIABILITIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at June 30, 2017 and December 31, 2016 are summarized below:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities | The tables below summarize the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the three-month and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets and liabilities under the fair value option | The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option:
The following tables present the net gains (losses) from fair value changes for the three-month and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets measured at fair value on a nonrecurring basis | ssets measured at fair value on a nonrecurring basis were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quantitative information about significant unobservable level 3 fair value measurement inputs |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amounts and estimated fair values of financial instruments | The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments that are carried either at fair value or cost at June 30, 2017 and December 31, 2016:
The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntington’s financial instruments that are not already on the Unaudited Condensed Consolidated Balance Sheets at fair value at June 30, 2017 and December 31, 2016:
|
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross notional values of derivatives used in asset and liability management activities | The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at June 30, 2017, identified by the underlying interest rate-sensitive instruments:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional information about the interest rate swaps used in asset and liability management activities | The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at June 30, 2017:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset and liability derivatives included in accrued income and other assets |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item for the three-month and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | The following table presents the gains and (losses) recognized in OCI and the location in the Unaudited Condensed Consolidated Statements of Income of gains and (losses) reclassified from OCI into earnings for derivatives designated as effective cash flow hedges for the three-month and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as fair value and cash flow hedges | The following table presents the gains and (losses) recognized in noninterest income for the ineffective portion of interest rate contracts for derivatives designated as cash flow hedges for the three and six-month periods ended June 30, 2017 and 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets and liabilities used in mortgage banking activities [Table Text Block] | The following table summarizes the derivative assets and liabilities used in mortgage banking activities:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offsetting of financial liabilities and derivative liabilities |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offsetting of financial assets and derivatives assets | The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2017 and December 31, 2016:
|
VIEs (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amount and classification of the trusts assets and liabilities | The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Condensed Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary, to the VIE at June 30, 2017, and December 31, 2016:
The following tables present the carrying amount and classification of the consolidated trusts’ assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2017 and December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Outstanding Trust Preferred Securities | A list of trust preferred securities outstanding at June 30, 2017 follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable housing tax credit investments | The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at June 30, 2017 and December 31, 2016:
The following table presents other information relating to Huntington’s affordable housing tax credit investments for the three-month and six-month periods ended June 30, 2017 and 2016:
|
COMMITMENTS AND CONTINGENT LIABILITIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contract amounts of various commitments to extend credit | In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Condensed Consolidated Financial Statements. The contract amounts of these financial agreements at June 30, 2017 and December 31, 2016, were as follows:
|
SEGMENT REPORTING (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | Listed below is certain operating basis financial information reconciled to Huntington’s June 30, 2017, December 31, 2016, and June 30, 2016, reported results by business segment:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Disclosure of Assets and Deposits |
|
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Narrative (Details) |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jun. 30, 2017
USD ($)
reserve
|
Mar. 31, 2017
USD ($)
|
Dec. 31, 2016
USD ($)
|
Jun. 30, 2016
USD ($)
|
Mar. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases receivable net premium | $ 245,000,000 | $ 120,000,000 | ||||
Loans held for investment | 103,741,000 | 82,319,000 | ||||
Allowance for loan and lease losses | $ (667,996,000) | $ (672,580,000) | (638,413,000) | $ (623,064,000) | $ (613,719,000) | $ (597,843,000) |
Number of days past due | 30 days | |||||
Allowance number of reserves | reserve | 2 | |||||
Collateral for secured borrowings | $ 30,400,000,000 | |||||
FirstMerit Corporation | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan and lease losses | (970,000) | 0 | ||||
Commercial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan and lease losses | $ (474,576,000) | (480,308,000) | (451,091,000) | (424,507,000) | (422,441,000) | (398,753,000) |
Threshold period past due for nonperforming status | 90 days | |||||
Threshold outstanding balance for quarterly impairment evaluation | $ 1,000,000.0 | |||||
Threshold period past due for write-off | 90 days | |||||
Commercial | Commercial and Industrial | FirstMerit Corporation | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan and lease losses | $ (970,000) | 0 | ||||
Commercial | Commercial Real Estate | FirstMerit Corporation | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||
Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan and lease losses | $ (193,420,000) | $ (192,272,000) | $ (187,322,000) | $ (198,557,000) | $ (191,278,000) | $ (199,090,000) |
Threshold period past due for nonperforming status | 120 days | |||||
Threshold period past due for write-off | 120 days |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Loan and Lease Portfolio Composition (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
||
---|---|---|---|---|---|---|---|---|
Loan and Lease Portfolio | ||||||||
Commercial and industrial | $ 27,969,151 | $ 28,058,712 | ||||||
Commercial real estate | 7,145,151 | 7,300,901 | ||||||
Automobile | 11,555,137 | 10,968,782 | ||||||
Home equity | 9,965,534 | 10,105,774 | ||||||
Residential mortgage | 8,237,297 | 7,724,961 | ||||||
Recreation Finance | 2,177,732 | 1,846,447 | ||||||
Other consumer | 1,009,308 | 956,419 | ||||||
Loans and leases | [1] | 68,059,310 | 66,961,996 | |||||
Allowance for loan and lease losses | (667,996) | $ (672,580) | (638,413) | $ (623,064) | $ (613,719) | $ (597,843) | ||
Net loans and leases | $ 67,391,314 | $ 66,323,583 | ||||||
|
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Certain Loans Acquired Balances at Acquisition (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
---|---|---|---|
FirstMerit Corporation | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Accretable yield | $ (36,509) | $ (37,372) | $ (36,669) |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Certain Loans Acquired Accretable Yield Roll (Details) - FirstMerit Corporation - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended |
---|---|---|
Jun. 30, 2017 |
Jun. 30, 2017 |
|
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Balance, beginning of period | $ 37,372 | $ 36,669 |
Accretion | (4,788) | (9,490) |
Reclassification (to) from nonaccretable difference | 3,925 | 9,330 |
Balance, end of period | $ 36,509 | $ 36,509 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Certain Loans Acquired Ending and Unpaid Balances (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
---|---|---|---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased Credit Impaired, Ending Balance | $ 75,722 | $ 102,380 | ||||
Loans and Leases Receivable, Allowance | 667,996 | $ 672,580 | 638,413 | $ 623,064 | $ 613,719 | $ 597,843 |
Commercial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Allowance | 474,576 | $ 480,308 | 451,091 | $ 424,507 | $ 422,441 | $ 398,753 |
Commercial | Commercial and Industrial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased Credit Impaired, Ending Balance | 54,942 | 68,338 | ||||
Commercial | Commercial Real Estate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased Credit Impaired, Ending Balance | 20,780 | 34,042 | ||||
FirstMerit Corporation | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased Credit Impaired, Ending Balance | 75,722 | 102,380 | ||||
Purchased Credit Impaired, Unpaid Balance | 116,838 | 156,351 | ||||
Loans and Leases Receivable, Allowance | 970 | 0 | ||||
FirstMerit Corporation | Commercial | Commercial and Industrial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased Credit Impaired, Ending Balance | 54,942 | 68,338 | ||||
Purchased Credit Impaired, Unpaid Balance | 81,934 | 100,031 | ||||
Loans and Leases Receivable, Allowance | 970 | 0 | ||||
FirstMerit Corporation | Commercial | Commercial Real Estate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased Credit Impaired, Ending Balance | 20,780 | 34,042 | ||||
Purchased Credit Impaired, Unpaid Balance | 34,904 | 56,320 | ||||
Loans and Leases Receivable, Allowance | $ 0 | $ 0 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Nonaccrual Loans by Loan Class (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | $ 364,456 | $ 423,003 |
Commercial | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 195,279 | 234,184 |
Commercial | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 16,763 | 20,508 |
Consumer | Automobile | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 3,825 | 5,766 |
Consumer | Home Equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 67,940 | 71,798 |
Consumer | Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 80,306 | 90,502 |
Consumer | RV and Marine FInance | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 341 | 245 |
Consumer | Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | $ 2 | $ 0 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - NALs Past Due (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
||
---|---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | $ 695,588 | $ 718,203 | ||
Current | 67,184,259 | 66,059,094 | ||
Purchased Credit Impaired | 75,722 | 102,380 | ||
Consumer loans | 103,741 | 82,319 | ||
Loans and leases | [1] | 68,059,310 | 66,961,996 | |
90 or more days past due and accruing | 136,360 | 129,362 | ||
30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 301,055 | 320,341 | ||
60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 96,081 | 108,443 | ||
90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 298,452 | 289,419 | ||
Commercial | Commercial and Industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 143,013 | 136,362 | ||
Current | 27,771,196 | 27,854,012 | ||
Purchased Credit Impaired | 54,942 | 68,338 | ||
Consumer loans | 0 | 0 | ||
Loans and leases | 27,969,151 | 28,058,712 | ||
90 or more days past due and accruing | 21,501 | 18,148 | ||
Commercial | Commercial and Industrial | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 44,796 | 42,052 | ||
Commercial | Commercial and Industrial | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 13,608 | 20,136 | ||
Commercial | Commercial and Industrial | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 84,609 | 74,174 | ||
Commercial | Commercial Real Estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 38,614 | 54,048 | ||
Current | 7,085,757 | 7,212,811 | ||
Purchased Credit Impaired | 20,780 | 34,042 | ||
Consumer loans | 0 | 0 | ||
Loans and leases | 7,145,151 | 7,300,901 | ||
90 or more days past due and accruing | 17,040 | 17,215 | ||
Commercial | Commercial Real Estate | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 7,382 | 21,187 | ||
Commercial | Commercial Real Estate | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,918 | 3,202 | ||
Commercial | Commercial Real Estate | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 27,314 | 29,659 | ||
Consumer | Automobile | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 92,557 | 103,913 | ||
Current | 11,461,169 | 10,862,715 | ||
Purchased Credit Impaired | 0 | 0 | ||
Consumer loans | 1,411 | 2,154 | ||
Loans and leases | 11,555,137 | 10,968,782 | ||
90 or more days past due and accruing | 8,594 | 10,182 | ||
Consumer | Automobile | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 68,600 | 76,283 | ||
Consumer | Automobile | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 15,241 | 17,188 | ||
Consumer | Automobile | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 8,716 | 10,442 | ||
Consumer | Home Equity | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 122,135 | 115,804 | ||
Current | 9,840,922 | 9,986,697 | ||
Purchased Credit Impaired | 0 | 0 | ||
Consumer loans | 2,477 | 3,273 | ||
Loans and leases | 9,965,534 | 10,105,774 | ||
90 or more days past due and accruing | 18,459 | 11,508 | ||
Consumer | Home Equity | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 44,513 | 38,899 | ||
Consumer | Home Equity | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 16,463 | 23,903 | ||
Consumer | Home Equity | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 61,159 | 53,002 | ||
Consumer | Residential Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 268,948 | 276,611 | ||
Current | 7,869,927 | 7,373,414 | ||
Purchased Credit Impaired | 0 | 0 | ||
Consumer loans | 98,422 | 74,936 | ||
Loans and leases | 8,237,297 | 7,724,961 | ||
90 or more days past due and accruing | 65,159 | 66,952 | ||
Consumer | Residential Mortgage | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 117,779 | 122,469 | ||
Consumer | Residential Mortgage | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 40,327 | 37,460 | ||
Consumer | Residential Mortgage | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 110,842 | 116,682 | ||
Consumer | RV and Marine FInance | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 13,181 | 13,805 | ||
Current | 2,163,346 | 1,831,123 | ||
Purchased Credit Impaired | 0 | 0 | ||
Consumer loans | 1,205 | 1,519 | ||
Loans and leases | 2,177,732 | 1,846,447 | ||
90 or more days past due and accruing | 2,464 | 1,462 | ||
Consumer | RV and Marine FInance | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 8,072 | 10,009 | ||
Consumer | RV and Marine FInance | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 2,443 | 2,230 | ||
Consumer | RV and Marine FInance | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 2,666 | 1,566 | ||
Consumer | Other Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 17,140 | 17,660 | ||
Current | 991,942 | 938,322 | ||
Purchased Credit Impaired | 0 | 0 | ||
Consumer loans | 226 | 437 | ||
Loans and leases | 1,009,308 | 956,419 | ||
90 or more days past due and accruing | 3,143 | 3,895 | ||
Consumer | Other Consumer | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 9,913 | 9,442 | ||
Consumer | Other Consumer | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 4,081 | 4,324 | ||
Consumer | Other Consumer | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | $ 3,146 | $ 3,894 | ||
|
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Allowance For Credit Losses Roll Forward [Abstract] | ||||
ALLL balance, beginning of period | $ 672,580 | $ 613,719 | $ 638,413 | $ 597,843 |
Loan charge-offs | (56,448) | (43,545) | (127,163) | (103,237) |
Recoveries of loans previously charged-off | 20,408 | 26,790 | 51,685 | 77,930 |
Provision for loan and lease losses | 31,457 | 26,086 | 105,136 | 50,424 |
Allowance for loans sold or transferred to loans held for sale | (1) | 14 | (75) | 104 |
ALLL balance, end of period | 667,996 | 623,064 | 667,996 | 623,064 |
AULC Balance, beginning of period | 91,838 | 75,325 | 97,879 | 72,081 |
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | (6,479) | (1,577) | (12,520) | 1,667 |
AULC Balance, end of period | 85,359 | 73,748 | 85,359 | 73,748 |
ACL balance, end of period | 753,355 | 696,812 | 753,355 | 696,812 |
Commercial | ||||
Allowance For Credit Losses Roll Forward [Abstract] | ||||
ALLL balance, beginning of period | 480,308 | 422,441 | 451,091 | 398,753 |
Loan charge-offs | (15,103) | (16,933) | (38,773) | (45,882) |
Recoveries of loans previously charged-off | 5,787 | 13,904 | 23,604 | 53,815 |
Provision for loan and lease losses | 3,585 | 5,095 | 38,729 | 17,821 |
Allowance for loans sold or transferred to loans held for sale | (1) | 0 | (75) | 0 |
ALLL balance, end of period | 474,576 | 424,507 | 474,576 | 424,507 |
AULC Balance, beginning of period | 88,899 | 65,872 | 86,543 | 63,448 |
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | (6,072) | (2,155) | (3,716) | 269 |
AULC Balance, end of period | 82,827 | 63,717 | 82,827 | 63,717 |
ACL balance, end of period | 557,403 | 488,224 | 557,403 | 488,224 |
Consumer | ||||
Allowance For Credit Losses Roll Forward [Abstract] | ||||
ALLL balance, beginning of period | 192,272 | 191,278 | 187,322 | 199,090 |
Loan charge-offs | (41,345) | (26,612) | (88,390) | (57,355) |
Recoveries of loans previously charged-off | 14,621 | 12,886 | 28,081 | 24,115 |
Provision for loan and lease losses | 27,872 | 20,991 | 66,407 | 32,603 |
Allowance for loans sold or transferred to loans held for sale | 0 | 14 | 0 | 104 |
ALLL balance, end of period | 193,420 | 198,557 | 193,420 | 198,557 |
AULC Balance, beginning of period | 2,939 | 9,453 | 11,336 | 8,633 |
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | (407) | 578 | (8,804) | 1,398 |
AULC Balance, end of period | 2,532 | 10,031 | 2,532 | 10,031 |
ACL balance, end of period | $ 195,952 | $ 208,588 | $ 195,952 | $ 208,588 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Credit Quality Indicators (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | $ 27,969,151 | $ 28,058,712 |
Commercial real estate | 7,145,151 | 7,300,901 |
Automobile | 11,555,137 | 10,968,782 |
Home equity | 9,965,534 | 10,105,774 |
Residential mortgage | 8,237,297 | 7,724,961 |
Other consumer | 1,009,308 | 956,419 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 27,969,151 | 28,058,712 |
Commercial real estate | 7,145,151 | 7,300,901 |
Commercial | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 26,006,917 | 26,211,885 |
Commercial real estate | 6,923,159 | 7,042,304 |
Commercial | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 1,138,508 | 1,028,819 |
Commercial real estate | 132,017 | 159,098 |
Commercial | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 798,643 | 810,287 |
Commercial real estate | 88,932 | 96,975 |
Commercial | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 25,083 | 7,721 |
Commercial real estate | 1,043 | 2,524 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 11,553,726 | 10,966,628 |
Home equity | 9,963,057 | 10,102,501 |
Residential mortgage | 8,138,875 | 7,650,025 |
RV and marine finance | 2,176,527 | 1,844,928 |
Other consumer | 1,009,082 | 955,982 |
Consumer | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 5,728,416 | 5,369,085 |
Home equity | 6,296,801 | 6,280,328 |
Residential mortgage | 4,945,403 | 4,662,777 |
RV and marine finance | 1,287,480 | 1,064,143 |
Other consumer | 386,659 | 346,867 |
Consumer | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 4,202,063 | 4,043,611 |
Home equity | 3,013,152 | 2,891,330 |
Residential mortgage | 2,449,297 | 2,285,121 |
RV and marine finance | 774,873 | 644,039 |
Other consumer | 481,324 | 455,959 |
Consumer | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 1,350,925 | 1,298,460 |
Home equity | 619,661 | 637,560 |
Residential mortgage | 610,720 | 615,067 |
RV and marine finance | 85,844 | 72,995 |
Other consumer | 135,161 | 133,243 |
Consumer | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 272,322 | 255,472 |
Home equity | 33,443 | 293,283 |
Residential mortgage | 133,455 | 87,060 |
RV and marine finance | 28,330 | 63,751 |
Other consumer | $ 5,938 | $ 19,913 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - ALLL Attributable to Loans by Portfolio Segment (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
---|---|---|---|---|---|---|
Portion of ALLL balance: | ||||||
Attributable to loans collectively evaluated for impairment | $ 643,743 | $ 616,867 | ||||
Attributable to loans individually evaluated for impairment | 23,283 | 21,546 | ||||
Total ALLL balance | 667,996 | $ 672,580 | 638,413 | $ 623,064 | $ 613,719 | $ 597,843 |
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | 66,987,156 | 65,903,783 | ||||
Individually evaluated for impairment | 892,691 | 873,514 | ||||
Financing Receivable Evaluated For Impairment | 67,955,569 | 66,879,677 | ||||
Commercial | ||||||
Portion of ALLL balance: | ||||||
Attributable to loans collectively evaluated for impairment | 459,367 | 440,566 | ||||
Attributable to loans individually evaluated for impairment | 14,239 | 10,525 | ||||
Total ALLL balance | 474,576 | 480,308 | 451,091 | 424,507 | 422,441 | 398,753 |
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | 34,597,081 | 34,841,609 | ||||
Individually evaluated for impairment | 441,499 | 415,624 | ||||
Financing Receivable Evaluated For Impairment | 35,114,302 | 35,359,613 | ||||
Consumer | ||||||
Portion of ALLL balance: | ||||||
Attributable to loans collectively evaluated for impairment | 184,376 | 176,301 | ||||
Attributable to loans individually evaluated for impairment | 9,044 | 11,021 | ||||
Total ALLL balance | 193,420 | $ 192,272 | 187,322 | $ 198,557 | $ 191,278 | $ 199,090 |
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | 32,390,075 | 31,062,174 | ||||
Individually evaluated for impairment | 451,192 | 457,890 | ||||
Financing Receivable Evaluated For Impairment | 32,841,267 | 31,520,064 | ||||
Purchased credit-impaired | ||||||
Portion of ALLL balance: | ||||||
Attributable to loans collectively evaluated for impairment | 970 | |||||
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | 75,722 | 102,380 | ||||
Purchased credit-impaired | Commercial | ||||||
Portion of ALLL balance: | ||||||
Attributable to loans collectively evaluated for impairment | 970 | |||||
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | 75,722 | 102,380 | ||||
Purchased credit-impaired | Consumer | ||||||
Portion of ALLL balance: | ||||||
Attributable to loans collectively evaluated for impairment | 0 | |||||
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | $ 0 | $ 0 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Impaired Loans (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Automobile | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance of impaired loans with no allowance recorded | $ 0 | $ 0 | $ 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | $ 0 | 0 | $ 0 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Home Equity | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Residential Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 1,298 | 0 | 1,350 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 109 | 0 | 111 | |
RV and Marine FInance | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | |||
Average balance of impaired loans with no allowance recorded | 0 | 0 | |||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | |||
Commercial | Commercial and Industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 261,285 | 261,285 | 299,606 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 270,571 | 270,571 | 358,712 | ||
Average balance of impaired loans with no allowance recorded | 262,631 | 289,138 | 268,041 | 284,128 | |
Interest income recognized on impaired loans with no allowance recorded | 4,852 | 2,392 | 9,352 | 4,623 | |
Ending balance of impaired loans with allowance recorded | 283,409 | 283,409 | 406,243 | ||
Unpaid principal balance of impaired loans with allowance recorded | 342,188 | 342,188 | 448,121 | ||
Related Allowance | 24,423 | 24,423 | 22,259 | ||
Impaired Financing Receivable, Average Recorded Investment | 520,697 | 580,899 | 578,652 | 553,646 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 6,854 | 4,131 | 13,260 | 8,452 | |
Average balance of impaired loans with allowance recorded | 258,066 | 291,761 | 310,611 | 269,518 | |
Interest income recognized on impaired loans with allowance recorded | 2,002 | 1,739 | 3,908 | 3,829 | |
Loans considered impaired due to status as a TDR | 115,000 | 115,000 | 293,000 | ||
Impaired Financing Receivable, Recorded Investment | 544,694 | 544,694 | 705,849 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 612,759 | 612,759 | 806,833 | ||
Commercial | Commercial Real Estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 76,463 | 76,463 | 88,817 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 106,248 | 106,248 | 126,152 | ||
Average balance of impaired loans with no allowance recorded | 82,296 | 72,569 | 84,865 | 72,640 | |
Interest income recognized on impaired loans with no allowance recorded | 1,937 | 1,855 | 3,937 | 3,472 | |
Ending balance of impaired loans with allowance recorded | 34,270 | 34,270 | 97,238 | ||
Unpaid principal balance of impaired loans with allowance recorded | 41,695 | 41,695 | 107,512 | ||
Related Allowance | 2,340 | 2,340 | 3,434 | ||
Impaired Financing Receivable, Average Recorded Investment | 121,049 | 130,926 | 143,428 | 142,141 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 2,390 | 2,470 | 4,857 | 4,845 | |
Average balance of impaired loans with allowance recorded | 38,753 | 58,357 | 58,563 | 69,501 | |
Interest income recognized on impaired loans with allowance recorded | 453 | 615 | 920 | 1,373 | |
Loans considered impaired due to status as a TDR | 23,000 | 23,000 | 81,000 | ||
Impaired Financing Receivable, Recorded Investment | 110,733 | 110,733 | 186,055 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 147,943 | 147,943 | 233,664 | ||
Consumer | Automobile | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 32,431 | 32,431 | 30,961 | ||
Unpaid principal balance of impaired loans with allowance recorded | 32,642 | 32,642 | 31,298 | ||
Related Allowance | 1,889 | 1,889 | 1,850 | ||
Impaired Financing Receivable, Average Recorded Investment | 32,581 | 32,032 | 32,041 | 31,789 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 546 | 524 | 1,080 | 1,102 | |
Average balance of impaired loans with allowance recorded | 32,581 | 32,032 | 32,041 | 31,789 | |
Interest income recognized on impaired loans with allowance recorded | 546 | 524 | 1,080 | 1,102 | |
Impaired Financing Receivable, Recorded Investment | 32,431 | 32,431 | 30,961 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 32,642 | 32,642 | 31,298 | ||
Consumer | Home Equity | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 325,805 | 325,805 | 319,404 | ||
Unpaid principal balance of impaired loans with allowance recorded | 357,738 | 357,738 | 352,722 | ||
Related Allowance | 17,844 | 17,844 | 15,032 | ||
Impaired Financing Receivable, Average Recorded Investment | 326,280 | 248,056 | 323,988 | 248,317 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 3,977 | 2,962 | 7,927 | 5,930 | |
Average balance of impaired loans with allowance recorded | 326,280 | 248,056 | 323,988 | 248,317 | |
Interest income recognized on impaired loans with allowance recorded | 3,977 | 2,962 | 7,927 | 5,930 | |
Impaired Financing Receivable, Recorded Investment | 325,805 | 325,805 | 319,404 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 357,738 | 357,738 | 352,722 | ||
Consumer | Residential Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 329,050 | 329,050 | 327,753 | ||
Unpaid principal balance of impaired loans with allowance recorded | 363,277 | 363,277 | 363,099 | ||
Related Allowance | 11,578 | 11,578 | 12,849 | ||
Impaired Financing Receivable, Average Recorded Investment | 339,289 | 353,787 | 335,444 | 358,674 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 2,903 | 3,136 | 6,013 | 6,175 | |
Average balance of impaired loans with allowance recorded | 339,289 | 352,489 | 335,444 | 357,324 | |
Interest income recognized on impaired loans with allowance recorded | 2,903 | 3,027 | 6,013 | 6,064 | |
Impaired Financing Receivable, Recorded Investment | 329,050 | 329,050 | 327,753 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 363,277 | 363,277 | 363,099 | ||
Consumer | RV and Marine FInance | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | ||||
Average balance of impaired loans with no allowance recorded | 0 | 0 | |||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | |||
Ending balance of impaired loans with allowance recorded | 1,331 | 1,331 | 0 | ||
Unpaid principal balance of impaired loans with allowance recorded | 1,355 | 1,355 | 0 | ||
Related Allowance | 134 | 134 | 0 | ||
Impaired Financing Receivable, Average Recorded Investment | 1,009 | 0 | 672 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 23 | 0 | 34 | 0 | |
Average balance of impaired loans with allowance recorded | 1,009 | 0 | 672 | 0 | |
Interest income recognized on impaired loans with allowance recorded | 23 | 0 | 34 | 0 | |
Impaired Financing Receivable, Recorded Investment | 1,331 | 1,331 | 0 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 1,355 | 1,355 | 0 | ||
Consumer | Other Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 19 | 0 | 30 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 2 | 0 | 104 | |
Ending balance of impaired loans with allowance recorded | 4,126 | 4,126 | 3,897 | ||
Unpaid principal balance of impaired loans with allowance recorded | 4,126 | 4,126 | 3,897 | ||
Related Allowance | 253 | 253 | 260 | ||
Impaired Financing Receivable, Average Recorded Investment | 4,186 | 4,831 | 4,090 | 4,784 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 55 | 55 | 111 | 224 | |
Average balance of impaired loans with allowance recorded | 4,186 | 4,812 | 4,090 | 4,754 | |
Interest income recognized on impaired loans with allowance recorded | 55 | $ 53 | 111 | $ 120 | |
Impaired Financing Receivable, Recorded Investment | 4,126 | 4,126 | 3,897 | ||
Impaired Financing Receivable, Unpaid Principal Balance | $ 4,126 | $ 4,126 | $ 3,897 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - TDRs (Details) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017
USD ($)
contract
|
Jun. 30, 2016
USD ($)
contract
|
Jun. 30, 2017
USD ($)
contract
|
Jun. 30, 2016
USD ($)
contract
|
|
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1,178 | 1,077 | 2,606 | 2,511 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 221,059,000 | $ 176,582,000 | $ 401,460,000 | $ 371,091,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 7,800,000 | $ 4,787,000 | $ 9,385,000 | $ 5,416,000 |
Commercial | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | 1 | 1 | 2 | 2 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 18,000 | $ 22,000 | $ 37,000 | $ 39,000 |
New Troubled Debt Restructuring, Financial effects of modification | 0 | $ 0 | (6,000) | $ 1,000 |
Commercial | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 199 | 383 | ||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 168,118,000 | $ 133,933,000 | 280,543,000 | $ 256,591,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 6,856,000 | $ 3,490,000 | $ 7,858,000 | $ 2,918,000 |
Commercial | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 2 | 4 | 10 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 220,000 | $ 232,000 | $ 380,000 | $ 1,090,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 27,000 | $ 4,000 |
Commercial | Commercial and Industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 230 | 202 | 470 | 395 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 168,356,000 | $ 134,187,000 | $ 280,960,000 | $ 257,720,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 6,856,000 | $ 3,490,000 | $ 7,879,000 | $ 2,923,000 |
Commercial | Commercial and Industrial | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 228 | 464 | ||
Commercial | Commercial Real Estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 19 | 39 | 43 | 65 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 25,027,000 | $ 16,153,000 | $ 56,290,000 | $ 50,211,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 427,000 | $ 723,000 | $ 815,000 | $ 1,266,000 |
Commercial | Commercial Real Estate | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 1 | 0 | 1 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 84,000 | $ 0 | $ 84,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial | Commercial Real Estate | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 19 | 36 | 43 | 60 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 25,027,000 | $ 16,017,000 | $ 56,290,000 | $ 49,812,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 427,000 | $ 723,000 | $ 815,000 | $ 1,282,000 |
Commercial | Commercial Real Estate | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 2 | 0 | 4 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 52,000 | $ 0 | $ 315,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ (16,000) |
Consumer | Automobile | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 537 | 533 | 1,268 | 1,275 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 4,405,000 | $ 4,709,000 | $ 10,706,000 | $ 11,214,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (86,000) | $ (321,000) | $ (231,000) | $ (658,000) |
Consumer | Automobile | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 5 | 3 | 19 | 7 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 58,000 | $ 64,000 | $ 236,000 | $ 106,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (1,000) | $ (5,000) | $ (6,000) | $ (7,000) |
Consumer | Automobile | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 334 | 286 | 811 | 707 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 2,853,000 | $ 2,663,000 | $ 7,154,000 | $ 6,564,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (67,000) | $ (202,000) | $ (178,000) | $ (422,000) |
Consumer | Automobile | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 198 | 244 | 438 | 561 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1,494,000 | $ 1,982,000 | $ 3,316,000 | $ 4,544,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (18,000) | $ (114,000) | $ (47,000) | $ (229,000) |
Consumer | Automobile | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer | Home Equity | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 233 | 182 | 492 | 530 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 11,807,000 | $ 9,142,000 | $ 25,213,000 | $ 26,013,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 384,000 | $ 443,000 | $ 339,000 | $ 925,000 |
Consumer | Home Equity | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 9 | 9 | 17 | 29 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 506,000 | $ 627,000 | $ 1,068,000 | $ 2,011,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (6,000) | $ (26,000) | $ (13,000) | $ (93,000) |
Consumer | Home Equity | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 135 | 127 | 241 | 356 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 8,372,000 | $ 6,401,000 | $ 13,868,000 | $ 18,291,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 754,000 | $ 736,000 | $ 1,428,000 | $ 2,018,000 |
Consumer | Home Equity | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 77 | 46 | 164 | 145 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 2,417,000 | $ 2,114,000 | $ 6,036,000 | $ 5,711,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (364,000) | $ (267,000) | $ (1,402,000) | $ (1,000,000) |
Consumer | Home Equity | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 12 | 0 | 70 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 512,000 | $ 0 | $ 4,241,000 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 326,000 | $ 0 |
Consumer | Residential Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 111 | 120 | 252 | 234 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 10,741,000 | $ 12,387,000 | $ 26,533,000 | $ 25,308,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 229,000 | $ 452,000 | $ 618,000 | $ 991,000 |
Consumer | Residential Mortgage | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 5 | 2 | 10 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 404,000 | $ 110,000 | $ 1,061,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (17,000) | $ 9,000 | $ 15,000 |
Consumer | Residential Mortgage | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 81 | 108 | 180 | 200 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 8,296,000 | $ 10,641,000 | $ 19,367,000 | $ 21,400,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 231,000 | $ 420,000 | $ 489,000 | $ 997,000 |
Consumer | Residential Mortgage | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 25 | 6 | 49 | 23 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1,981,000 | $ 1,178,000 | $ 4,672,000 | $ 2,683,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 1,000 | $ 49,000 | $ 137,000 | $ (21,000) |
Consumer | Residential Mortgage | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 5 | 1 | 21 | 1 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 464,000 | $ 164,000 | $ 2,384,000 | $ 164,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (3,000) | $ 0 | $ (17,000) | $ 0 |
Consumer | RV and Marine FInance | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 44 | 0 | 73 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 694,000 | $ 0 | $ 1,380,000 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ (10,000) | $ 0 | $ (26,000) | $ 0 |
Consumer | RV and Marine FInance | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer | RV and Marine FInance | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 10 | 0 | 24 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 150,000 | $ 0 | $ 626,000 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ (4,000) | $ 0 | $ (16,000) | $ 0 |
Consumer | RV and Marine FInance | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 34 | 0 | 49 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 544,000 | $ 0 | $ 754,000 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ (6,000) | $ 0 | $ (10,000) | $ 0 |
Consumer | RV and Marine FInance | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer | Other Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 4 | 1 | 8 | 12 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 29,000 | $ 4,000 | $ 378,000 | $ 625,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ (9,000) | $ (31,000) |
Consumer | Other Consumer | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 1 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 78,000 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ (2,000) | $ 0 |
Consumer | Other Consumer | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 2 | 1 | 4 | 5 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 21,000 | $ 4,000 | $ 288,000 | $ 559,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ (7,000) | $ (24,000) |
Consumer | Other Consumer | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 2 | 0 | 3 | 7 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 8,000 | $ 0 | $ 12,000 | $ 66,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ (7,000) |
Consumer | Other Consumer | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Dec. 31, 2016 |
|
Schedule of Available-for-sale Securities [Line Items] | ||||
Available For Sale Securities Transferred To Held To Maturity Securities | $ 1,000.0 | $ 1,000.0 | ||
Pledged investment securities to secure public and trust deposits, trading account liabilities, US Treasury demand notes and security repurchase agreements | 5,400.0 | 5,400.0 | ||
Unrealized Net Losses Recognized In Oci At Time Of Transfer Of Available For Sale Securities Transferred To Held To Maturity Securities | 13.5 | |||
Nonmarketable equity securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Stock issued by Federal Reserve Banks included in other securities | 298.0 | 298.0 | $ 299.0 | |
Federal Home Loan Bank of Cincinnati | Nonmarketable equity securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Stock issued by the Federal Home Loan Bank included in other securities | 287.0 | $ 287.0 | $ 249.0 | |
Commercial | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets | $ 3.0 | $ 2.0 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - Contractual Maturities (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 15,511,976 | $ 15,776,855 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | 15,388,306 | 15,562,837 |
U.S. Treasury | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 10,139 | 4,978 |
Amortized Cost, 1-5 years | 502 | 502 |
Amortized Cost, 6-10 years | 0 | 0 |
Amortized Cost, Over 10 years | 0 | 0 |
Amortized Cost | 10,641 | 5,480 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 10,139 | 4,988 |
Fair Value, 1-5 years | 505 | 509 |
Fair Value, 6-10 years | 0 | 0 |
Fair Value, Over 10 years | 0 | 0 |
Available-for-sale and other securities | 10,644 | 5,497 |
Federal agencies: Mortgage-backed securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 0 | 0 |
Amortized Cost, 1-5 years | 28,085 | 46,591 |
Amortized Cost, 6-10 years | 200,334 | 173,941 |
Amortized Cost, Over 10 years | 10,536,086 | 10,630,929 |
Amortized Cost | 10,764,505 | 10,851,461 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 27,891 | 46,762 |
Fair Value, 6-10 years | 199,224 | 176,404 |
Fair Value, Over 10 years | 10,396,940 | 10,450,176 |
Available-for-sale and other securities | 10,624,055 | 10,673,342 |
Federal agencies, Other agencies | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 4,103 | 4,302 |
Amortized Cost, 1-5 years | 9,498 | 5,092 |
Amortized Cost, 6-10 years | 86,049 | 63,618 |
Amortized Cost, Over 10 years | 0 | 0 |
Amortized Cost | 99,650 | 73,012 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 4,142 | 4,367 |
Fair Value, 1-5 years | 9,647 | 5,247 |
Fair Value, 6-10 years | 86,502 | 63,928 |
Fair Value, Over 10 years | 0 | 0 |
Available-for-sale and other securities | 100,291 | 73,542 |
Total U.S. Treasury, Federal agency securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 10,874,796 | 10,929,953 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | 10,734,990 | 10,752,381 |
Municipal securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 120,216 | 169,636 |
Amortized Cost, 1-5 years | 1,113,974 | 933,893 |
Amortized Cost, 6-10 years | 1,493,652 | 1,463,459 |
Amortized Cost, Over 10 years | 555,096 | 693,440 |
Amortized Cost | 3,282,938 | 3,260,428 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 121,345 | 166,887 |
Fair Value, 1-5 years | 1,123,450 | 933,903 |
Fair Value, 6-10 years | 1,508,930 | 1,464,583 |
Fair Value, Over 10 years | 558,775 | 684,684 |
Available-for-sale and other securities | 3,312,500 | 3,250,057 |
Asset-backed securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 0 | 0 |
Amortized Cost, 1-5 years | 80,018 | 80,700 |
Amortized Cost, 6-10 years | 144,969 | 223,352 |
Amortized Cost, Over 10 years | 389,154 | 520,072 |
Amortized Cost | 614,141 | 824,124 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 80,177 | 80,560 |
Fair Value, 6-10 years | 146,256 | 224,565 |
Fair Value, Over 10 years | 368,366 | 488,356 |
Available-for-sale and other securities | 594,799 | 793,481 |
Corporate debt | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 3,238 | 43,223 |
Amortized Cost, 1-5 years | 64,369 | 78,430 |
Amortized Cost, 6-10 years | 49,546 | 32,523 |
Amortized Cost, Over 10 years | 21,386 | 40,361 |
Amortized Cost | 138,539 | 194,537 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 3,268 | 43,603 |
Fair Value, 1-5 years | 65,808 | 80,196 |
Fair Value, 6-10 years | 51,878 | 32,865 |
Fair Value, Over 10 years | 23,081 | 42,019 |
Available-for-sale and other securities | 144,035 | 198,683 |
Other securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 3,151 | 1,650 |
Amortized Cost, 1-5 years | 800 | 2,302 |
Amortized Cost, 6-10 years | 0 | 0 |
Amortized Cost, Over 10 years | 94 | 10 |
Amortized Cost | 601,562 | 567,813 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 3,142 | 1,650 |
Fair Value, 1-5 years | 790 | 2,283 |
Fair Value, 6-10 years | 0 | 0 |
Fair Value, Over 10 years | 94 | 10 |
Available-for-sale and other securities | 601,982 | 568,235 |
Nonmarketable equity securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 585,472 | 547,704 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | 585,471 | 547,704 |
Mutual funds | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 11,184 | 15,286 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | 11,184 | 15,286 |
Marketable equity securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 861 | 861 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | $ 1,301 | $ 1,302 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - Schedule of Amortized Cost, Fair Value, and Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 15,511,976 | $ 15,776,855 |
Unrealized Gross Gains | 65,250 | 47,626 |
Unrealized Gross Losses | (188,920) | (261,644) |
Fair Value | 15,388,306 | 15,562,837 |
U.S. Treasury | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 10,641 | 5,480 |
Unrealized Gross Gains | 3 | 17 |
Unrealized Gross Losses | 0 | 0 |
Fair Value | 10,644 | 5,497 |
Federal agencies: Mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 10,764,505 | 10,851,461 |
Unrealized Gross Gains | 8,652 | 12,548 |
Unrealized Gross Losses | (149,102) | (190,667) |
Fair Value | 10,624,055 | 10,673,342 |
Federal agencies, Other agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 99,650 | 73,012 |
Unrealized Gross Gains | 689 | 536 |
Unrealized Gross Losses | (48) | (6) |
Fair Value | 100,291 | 73,542 |
Total U.S. Treasury, Federal agency securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 10,874,796 | 10,929,953 |
Unrealized Gross Gains | 9,344 | 13,101 |
Unrealized Gross Losses | (149,150) | (190,673) |
Fair Value | 10,734,990 | 10,752,381 |
Municipal securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,282,938 | 3,260,428 |
Unrealized Gross Gains | 47,711 | 28,431 |
Unrealized Gross Losses | (18,149) | (38,802) |
Fair Value | 3,312,500 | 3,250,057 |
Asset-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 614,141 | 824,124 |
Unrealized Gross Gains | 2,256 | 1,492 |
Unrealized Gross Losses | (21,598) | (32,135) |
Fair Value | 594,799 | 793,481 |
Corporate debt | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 138,539 | 194,537 |
Unrealized Gross Gains | 5,500 | 4,161 |
Unrealized Gross Losses | (4) | (15) |
Fair Value | 144,035 | 198,683 |
Other securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 601,562 | 567,813 |
Unrealized Gross Gains | 439 | 441 |
Unrealized Gross Losses | (19) | (19) |
Fair Value | $ 601,982 | $ 568,235 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES AVAILABLE-FOR-SALE AND OTHER SECURITIES - Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Fair Value | ||
Less than 12 Months | $ 9,773,917 | $ 10,687,088 |
Over 12 Months | 459,490 | 494,614 |
Total | 10,233,407 | 11,181,702 |
Unrealized Losses | ||
Less than 12 Months | (161,205) | (221,568) |
Over 12 Months | (27,715) | (40,076) |
Total | (188,920) | (261,644) |
Federal agencies: Mortgage-backed securities | ||
Fair Value | ||
Less than 12 Months | 8,879,526 | 8,908,470 |
Over 12 Months | 42,504 | 41,706 |
Total | 8,922,030 | 8,950,176 |
Unrealized Losses | ||
Less than 12 Months | (147,900) | (189,318) |
Over 12 Months | (1,202) | (1,349) |
Total | (149,102) | (190,667) |
Federal agencies, Other agencies | ||
Fair Value | ||
Less than 12 Months | 12,793 | 924 |
Over 12 Months | 0 | 0 |
Total | 12,793 | 924 |
Unrealized Losses | ||
Less than 12 Months | (48) | (6) |
Over 12 Months | 0 | 0 |
Total | (48) | (6) |
Total U.S. Treasury, Federal agency securities | ||
Fair Value | ||
Less than 12 Months | 8,892,319 | 8,909,394 |
Over 12 Months | 42,504 | 41,706 |
Total | 8,934,823 | 8,951,100 |
Unrealized Losses | ||
Less than 12 Months | (147,948) | (189,324) |
Over 12 Months | (1,202) | (1,349) |
Total | (149,150) | (190,673) |
Municipal securities | ||
Fair Value | ||
Less than 12 Months | 702,379 | 1,412,152 |
Over 12 Months | 241,487 | 272,292 |
Total | 943,866 | 1,684,444 |
Unrealized Losses | ||
Less than 12 Months | (11,895) | (29,175) |
Over 12 Months | (6,254) | (9,627) |
Total | (18,149) | (38,802) |
Asset-backed securities | ||
Fair Value | ||
Less than 12 Months | 177,834 | 361,185 |
Over 12 Months | 173,808 | 178,924 |
Total | 351,642 | 540,109 |
Unrealized Losses | ||
Less than 12 Months | (1,348) | (3,043) |
Over 12 Months | (20,250) | (29,092) |
Total | (21,598) | (32,135) |
Corporate debt | ||
Fair Value | ||
Less than 12 Months | 595 | 3,567 |
Over 12 Months | 200 | 200 |
Total | 795 | 3,767 |
Unrealized Losses | ||
Less than 12 Months | (4) | (15) |
Over 12 Months | 0 | 0 |
Total | (4) | (15) |
Other securities | ||
Fair Value | ||
Less than 12 Months | 790 | 790 |
Over 12 Months | 1,491 | 1,492 |
Total | 2,281 | 2,282 |
Unrealized Losses | ||
Less than 12 Months | (10) | (11) |
Over 12 Months | (9) | (8) |
Total | $ (19) | $ (19) |
AVAILABLE-FOR-SALE AND OTHER SECURITIES AVAILABLE-FOR-SALE AND OTHER SECURITIES - Gross Realized Gains (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Investments, Debt and Equity Securities [Abstract] | ||||
Gross gains on sales of securities | $ 3,814 | $ 3,391 | $ 4,359 | $ 3,391 |
Gross (losses) on sales of securities | 120 | 2,659 | 649 | 2,659 |
Net gain on sales of securities | 3,694 | 732 | 3,710 | 732 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | (3,559) | (76) | (3,583) | (76) |
Gain (Loss) on Sale of Investments | $ 135 | $ 656 | $ 127 | $ 656 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - Collateralized Debt Obligation (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized Gross Losses | $ (188,920) | $ (261,644) |
Pooled Trust Preferred | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Par Value | 91,009 | 137,197 |
Amortized Cost | 59,012 | 101,210 |
Fair Value | 42,575 | 76,003 |
Unrealized Gross Losses | (16,437) | $ (25,207) |
Pooled Trust Preferred | MM Comm III | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Par Value | 4,509 | |
Amortized Cost | 4,308 | |
Fair Value | 3,581 | |
Unrealized Gross Losses | $ (727) | |
Actual Deferrals and Defaults as Percent of Original Collateral | 5.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 5.00% | |
Excess Subordination | 39.00% | |
Pooled Trust Preferred | Pre TSL IX | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Par Value | $ 5,000 | |
Amortized Cost | 3,955 | |
Fair Value | 3,275 | |
Unrealized Gross Losses | $ (680) | |
Actual Deferrals and Defaults as Percent of Original Collateral | 16.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 8.00% | |
Excess Subordination | 11.00% | |
Pooled Trust Preferred | Pre TSL XI | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Par Value | $ 25,000 | |
Amortized Cost | 19,239 | |
Fair Value | 15,867 | |
Unrealized Gross Losses | $ (3,372) | |
Actual Deferrals and Defaults as Percent of Original Collateral | 14.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 8.00% | |
Excess Subordination | 14.00% | |
Pooled Trust Preferred | Reg Diversified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Par Value | $ 25,500 | |
Amortized Cost | 510 | |
Fair Value | 510 | |
Unrealized Gross Losses | $ 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 32.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 8.00% | |
Excess Subordination | 0.00% | |
Pooled Trust Preferred | Tropic III | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Par Value | $ 31,000 | |
Amortized Cost | 31,000 | |
Fair Value | 19,342 | |
Unrealized Gross Losses | $ (11,658) | |
Actual Deferrals and Defaults as Percent of Original Collateral | 16.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 7.00% | |
Excess Subordination | 41.00% |
AVAILABLE-FOR-SALE AND OTHER SECURITIES AVAILABLE-FOR-SALE AND OTHER SECURITIES - Security Impairment (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | $ 3,559 | $ 76 | $ 3,583 | $ 76 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Balance, beginning of year | 7,262 | 18,368 | 11,796 | 18,368 |
Reductions from sales | 0 | (8,613) | (4,558) | (8,613) |
Additional credit losses | 3,559 | 76 | 3,583 | 76 |
Balance, end of year | 10,821 | 9,831 | 10,821 | 9,831 |
Trust Preferred Securities | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | 3,559 | 0 | 3,559 | 0 |
Fixed Income Securities | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | $ 0 | $ 76 | $ 24 | $ 76 |
HELD-TO-MATURITY SECURITIES - Narrative (Details) |
6 Months Ended |
---|---|
Jun. 30, 2017
USD ($)
| |
Held-to-maturity Securities [Abstract] | |
Other than temporary impairment losses, held-to-maturity securities | $ 0 |
HELD-TO-MATURITY SECURITIES - Contractual Maturities (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Amortized Cost | $ 8,279,577 | $ 7,806,939 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value | 8,259,402 | 7,787,268 |
Federal agencies: Mortgage-backed securities | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 70,527 | 41,261 |
Held-to-maturity Securities, Over 10 years | 7,634,775 | 7,157,083 |
Amortized Cost | 7,705,302 | 7,198,344 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 70,355 | 40,791 |
Fair Value, Over 10 years | 7,616,513 | 7,139,943 |
Fair Value | 7,686,868 | 7,180,734 |
Federal agencies, Other agencies | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 376,837 | 398,341 |
Held-to-maturity Securities, Over 10 years | 191,592 | 204,083 |
Amortized Cost | 568,429 | 602,424 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 376,750 | 399,452 |
Fair Value, Over 10 years | 190,149 | 201,180 |
Fair Value | 566,899 | 600,632 |
Total U.S. Treasury, Federal agency securities | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Amortized Cost | 8,273,731 | 7,800,768 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value | 8,253,767 | 7,781,366 |
Municipal securities | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 0 | 0 |
Held-to-maturity Securities, Over 10 years | 5,846 | 6,171 |
Amortized Cost | 5,846 | 6,171 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 0 | 0 |
Fair Value, Over 10 years | 5,635 | 5,902 |
Fair Value | $ 5,635 | $ 5,902 |
HELD-TO-MATURITY SECURITIES - Amortized Cost, Gross Unrealized Gains and Losses, & Fair Value (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 8,279,577 | $ 7,806,939 |
Unrealized Gross Gains | 19,324 | 22,573 |
Unrealized Gross Losses | (39,499) | (42,244) |
Fair Value | 8,259,402 | 7,787,268 |
Federal agencies: Mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 7,705,302 | 7,198,344 |
Unrealized Gross Gains | 17,950 | 20,883 |
Unrealized Gross Losses | (36,384) | (38,493) |
Fair Value | 7,686,868 | 7,180,734 |
Federal agencies, Other agencies | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 568,429 | 602,424 |
Unrealized Gross Gains | 1,374 | 1,690 |
Unrealized Gross Losses | (2,904) | (3,482) |
Fair Value | 566,899 | 600,632 |
Total U.S. Treasury, Federal agency securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 8,273,731 | 7,800,768 |
Unrealized Gross Gains | 19,324 | 22,573 |
Unrealized Gross Losses | (39,288) | (41,975) |
Fair Value | 8,253,767 | 7,781,366 |
Municipal securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 5,846 | 6,171 |
Unrealized Gross Gains | 0 | 0 |
Unrealized Gross Losses | (211) | (269) |
Fair Value | $ 5,635 | $ 5,902 |
HELD-TO-MATURITY SECURITIES - Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Fair Value | ||
Less than 12 Months | $ 4,986,941 | $ 3,274,469 |
Over 12 Months | 160,437 | 186,226 |
Total | 5,147,378 | 3,460,695 |
Unrealized Losses | ||
Less than 12 Months | (34,463) | (35,221) |
Over 12 Months | (5,036) | (7,023) |
Total | (39,499) | (42,244) |
Federal agencies: Mortgage-backed securities | ||
Fair Value | ||
Less than 12 Months | 4,606,283 | 2,855,360 |
Over 12 Months | 160,437 | 186,226 |
Total | 4,766,720 | 3,041,586 |
Unrealized Losses | ||
Less than 12 Months | (31,348) | (31,470) |
Over 12 Months | (5,036) | (7,023) |
Total | (36,384) | (38,493) |
Federal agencies, Other agencies | ||
Fair Value | ||
Less than 12 Months | 375,023 | 413,207 |
Over 12 Months | 0 | 0 |
Total | 375,023 | 413,207 |
Unrealized Losses | ||
Less than 12 Months | (2,904) | (3,482) |
Over 12 Months | 0 | 0 |
Total | (2,904) | (3,482) |
Total U.S. Treasury, Federal agency securities | ||
Fair Value | ||
Less than 12 Months | 4,981,306 | 3,268,567 |
Over 12 Months | 160,437 | 186,226 |
Total | 5,141,743 | 3,454,793 |
Unrealized Losses | ||
Less than 12 Months | (34,252) | (34,952) |
Over 12 Months | (5,036) | (7,023) |
Total | (39,288) | (41,975) |
Municipal securities | ||
Fair Value | ||
Less than 12 Months | 5,635 | 5,902 |
Over 12 Months | 0 | 0 |
Total | 5,635 | 5,902 |
Unrealized Losses | ||
Less than 12 Months | (211) | (269) |
Over 12 Months | 0 | 0 |
Total | $ (211) | $ (269) |
LOAN SALES AND SECURITIZATIONS - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Residential Mortgage | |||
Servicing Assets at Fair Value [Line Items] | |||
Servicing income | $ 14 | $ 12 | |
Unpaid principal balance of third party serviced loans | 19,100 | $ 18,900 | |
Automobile | |||
Servicing Assets at Fair Value [Line Items] | |||
Servicing income | 5 | 2 | |
Unpaid principal balance of third party serviced loans | 1,300 | 1,700 | |
Small Business Association (SBA) Loan | |||
Servicing Assets at Fair Value [Line Items] | |||
Servicing income | 3 | $ 2 | |
Unpaid principal balance of third party serviced loans | $ 1,200 | $ 1,100 |
LOAN SALES AND SECURITIZATIONS - Residential Mortgage Portfolio (Details) - Residential Mortgage - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Servicing Asset at Amortized Cost [Line Items] | ||||
Loans sold with servicing retained | $ 798,399 | $ 715,589 | $ 1,645,752 | $ 1,348,055 |
Pretax gains resulting from above loan sales | $ 16,943 | $ 18,618 | $ 39,133 | $ 32,731 |
LOAN SALES AND SECURITIZATIONS - Residential Mortgage Portfolio, MSRs Fair Value Method (Details) - Residential Mortgage - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Servicing Asset at Fair Value, Amount [Roll Forward] | ||||
Fair value, beginning of period | $ 13,307 | $ 14,819 | $ 13,747 | $ 17,585 |
Time decay | (217) | (245) | (448) | (518) |
Payoffs | (217) | (465) | (581) | (969) |
Changes in valuation inputs or assumptions | (345) | (1,004) | (190) | (2,993) |
Fair value, end of period: | $ 12,528 | $ 13,105 | $ 12,528 | $ 13,105 |
Fair value method | ||||
Servicing Asset at Fair Value, Amount [Roll Forward] | ||||
Weighted-average life (years) | 5 years 8 months | 5 years 1 month | 5 years 8 months | 5 years 1 month |
LOAN SALES AND SECURITIZATIONS - Residential Mortgage Portfolio, MSRs Amortization Method (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Fair value, end of period | $ 224,656 | $ 224,656 | $ 225,578 | ||
Residential Mortgage | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Carrying value, beginning of period | 177,812 | $ 127,275 | 172,466 | $ 143,133 | |
New servicing assets created | 8,218 | 7,277 | 17,853 | 13,386 | |
Impairment (charge) / recovery | (2,806) | (7,295) | (1,007) | (23,635) | |
Amortization and other | (6,733) | (5,965) | (12,821) | (11,592) | |
Carrying value, end of period | 176,491 | 121,292 | 176,491 | 121,292 | |
Fair value, end of period | $ 177,138 | $ 121,464 | $ 177,138 | $ 121,464 | |
Residential Mortgage | Amortization method | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Weighted-average life (years) | 7 years 1 month | 6 years 1 month | 7 years 1 month | 6 years 1 month |
LOAN SALES AND SECURITIZATIONS LOAN SALES AND SECURTIZIATIONS - Residential Mortgage Portfolio, MSRs Fair Value Method Key Assumptions (Details) - Fair value method - Residential Mortgage - USD ($) $ in Thousands |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Servicing Assets at Fair Value [Line Items] | |||
Constant prepayment rate (annualized), actual | 11.40% | 10.90% | |
Constant prepayment rate (annualized), 10% adverse change | $ (476) | $ (501) | |
Constant prepayment rate (annualized), 20% adverse change | $ (919) | (970) | |
Spread over forward interest rate swap rates, actual | 8.76% | 5.36% | |
Spread over forward interest rate swap rates, 10% adverse change | $ (463) | (454) | |
Spread over forward interest rate swap rates, 20% adverse change | $ (874) | $ (879) |
LOAN SALES AND SECURITIZATIONS - Residential Mortgage Portfolio, MSRs Amortization Method Key Assumptions (Details) - Amortization method - Residential Mortgage - USD ($) $ in Thousands |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Servicing Asset at Amortized Cost [Line Items] | |||
Constant prepayment rate (annualized), actual | 8.20% | 7.80% | |
Constant prepayment rate (annualized), 10% adverse change | $ (4,731) | $ (4,510) | |
Constant prepayment rate (annualized), 20% adverse change | $ (9,191) | (8,763) | |
Spread over forward interest rate swap rates, actual | 10.84% | 11.73% | |
Spread over forward interest rate swap rates, 10% adverse change | $ (6,566) | (5,259) | |
Spread over forward interest rate swap rates, 20% adverse change | $ (12,374) | $ (10,195) |
LOAN SALES AND SECURITIZATIONS - Automobile Loans, MSRs Amortization Method (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Fair value, end of period | $ 224,656 | $ 224,656 | $ 225,578 | ||
Automobile | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Carrying value, beginning of period | 15,159 | $ 7,029 | 18,285 | $ 8,771 | |
Amortization and other | (2,635) | (1,571) | (5,761) | (3,313) | |
Fair value, end of period | 12,571 | 5,551 | 12,571 | 5,551 | |
Carrying value, end of period | $ 12,524 | $ 5,458 | $ 12,524 | $ 5,458 | |
Automobile | Amortization method | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Weighted-average life (years) | 3 years 9 months | 3 years | 3 years 9 months | 3 years |
LOAN SALES AND SECURITIZATIONS - Automobile Loans, MSRs Amortizations Method Key Assumptions (Details) - Amortization method - Automobile - USD ($) $ in Thousands |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Servicing Asset at Amortized Cost [Line Items] | |||
Constant prepayment rate (annualized), actual | 19.91% | 19.98% | |
Constant prepayment rate (annualized), 10% adverse change | $ (688) | $ (1,047) | |
Constant prepayment rate (annualized), 20% adverse change | $ (1,391) | (2,026) | |
Spread over forward interest rate swap rates, actual | 5.00% | 5.00% | |
Spread over forward interest rate swap rates, 10% adverse change | $ (17) | (26) | |
Spread over forward interest rate swap rates, 20% adverse change | $ (34) | $ (53) |
LOAN SALES AND SECURITIZATIONS - Small Business Association Portfolio (Details) - Small Business Association (SBA) Loan - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Transfer of Financial Assets Accounted for as Sales [Line Items] | ||||
Loans with servicing retained sold | $ 87,705 | $ 58,629 | $ 165,377 | $ 104,518 |
Pretax gains resulting from above loan sales | $ 7,109 | $ 4,662 | $ 12,927 | $ 8,183 |
LOAN SALES AND SECURITIZATIONS - Small Business Association Portfolio, MSRs Amortization Method (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Fair value, end of period | $ 224,656 | $ 224,656 | $ 225,578 | ||
Small Business Association (SBA) Loan | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Carrying value, beginning of period | 21,399 | $ 19,526 | 21,080 | $ 19,747 | |
New servicing assets created | 4,121 | 1,868 | 5,596 | 3,380 | |
Amortization and other | (2,407) | (1,782) | (3,563) | (3,515) | |
Carrying value, end of period | 23,113 | 19,612 | 23,113 | 19,612 | |
Fair value, end of period | $ 26,853 | $ 23,823 | $ 26,853 | $ 23,823 | |
Weighted-average life (years) | 3 years 4 months | 3 years 4 months | 3 years 3 months 18 days | 3 years 4 months |
LOAN SALES AND SECURITIZATIONS - Small Business Association Portfolio, MSRs Amortization Method Key Assumptions (Details) - Small Business Association (SBA) Loan - Amortization method - USD ($) $ in Thousands |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Servicing Asset at Amortized Cost [Line Items] | |||
Constant prepayment rate (annualized), actual | 7.50% | 7.40% | |
Constant prepayment rate (annualized), 10% adverse change | $ (363) | $ (324) | |
Constant prepayment rate (annualized), 20% adverse change | $ (721) | (644) | |
Spread over forward interest rate swap rates, actual | 15.00% | 15.00% | |
Spread over forward interest rate swap rates, 10% adverse change | $ (721) | (1,270) | |
Spread over forward interest rate swap rates, 20% adverse change | $ (1,411) | $ (1,870) |
LONG-TERM DEBT (Details) - Senior Notes - USD ($) |
3 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Mar. 07, 2017 |
|
Huntington National Bank Senior Note Due March 2020, 2.375 Percent [Member] | ||
Debt Instrument [Line Items] | ||
Debt face amount | $ 700,000,000.0 | |
Debt percent of value | 99.994% | |
Debt stated interest rate | 2.375% | |
Debt Instrument, Redemption Price, Percentage | 100.00% | |
Huntington National Bank Senior Floating Rate Notes Due March 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt face amount | $ 300,000,000.0 | |
Debt percent of value | 100.00% | |
Debt Instrument, Description of Variable Rate Basis | three month LIBOR | |
Debt Instrument, Basis Spread on Variable Rate | 51.00% |
OTHER COMPREHENSIVE INCOME - Activity (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Pretax | ||||
Other comprehensive income (loss), pretax | $ 62,596 | $ 52,116 | $ 77,714 | $ 143,468 |
Tax (Expense) Benefit | ||||
Total other comprehensive income (loss), tax (expense) benefit | (22,093) | (18,872) | (27,055) | (51,352) |
After-tax | ||||
Other comprehensive income (loss), net of tax | 40,503 | 33,244 | 50,659 | 92,116 |
Accumulated OTTI | ||||
Pretax | ||||
Other comprehensive income (loss), pretax | 2,478 | 1,032 | 3,288 | (2,602) |
Tax (Expense) Benefit | ||||
Total other comprehensive income (loss), tax (expense) benefit | (876) | (365) | (1,162) | 920 |
After-tax | ||||
Other comprehensive income (loss), net of tax | 1,602 | 667 | 2,126 | (1,682) |
Unrealized gains and (losses) on debt securities | Debt Securities | ||||
Pretax | ||||
Other comprehensive income (loss), before reclassifications, before tax | 53,285 | 50,278 | 62,282 | 130,746 |
Reclassification adjustment, before tax | 3,988 | (2,294) | 9,862 | (2,758) |
Tax (Expense) Benefit | ||||
Other comprehensive income (loss) before reclassifications, tax | (18,811) | (18,234) | (21,607) | (46,919) |
Reclassification adjustment, tax | (1,410) | 811 | (3,487) | 975 |
After-tax | ||||
Other comprehensive income (loss), before reclassifications, net of tax | 34,474 | 32,044 | 40,675 | 83,827 |
Reclassification adjustment, net of tax | 2,578 | (1,483) | 6,375 | (1,783) |
Unrealized gains and (losses) on debt securities and Accumulated OTTI | Debt Securities | ||||
Pretax | ||||
Other comprehensive income (loss), pretax | 59,751 | 49,016 | 75,432 | 125,386 |
Tax (Expense) Benefit | ||||
Total other comprehensive income (loss), tax (expense) benefit | (21,097) | (17,788) | (26,256) | (45,024) |
After-tax | ||||
Other comprehensive income (loss), net of tax | 38,654 | 31,228 | 49,176 | 80,362 |
Unrealized gains and (losses) on debt securities and Accumulated OTTI | Equity Securities | ||||
Pretax | ||||
Other comprehensive income (loss), pretax | 0 | 66 | 0 | 170 |
Tax (Expense) Benefit | ||||
Total other comprehensive income (loss), tax (expense) benefit | 0 | (24) | 0 | (60) |
After-tax | ||||
Other comprehensive income (loss), net of tax | 0 | 42 | 0 | 110 |
Unrealized gains and (losses) on cash flow hedging derivatives | ||||
Pretax | ||||
Other comprehensive income (loss), before reclassifications, before tax | 1,220 | 1,989 | (611) | 16,218 |
Reclassification adjustment, before tax | 427 | (248) | 987 | (892) |
Other comprehensive income (loss), pretax | 1,647 | 1,741 | 376 | 15,326 |
Tax (Expense) Benefit | ||||
Other comprehensive income (loss) before reclassifications, tax | (427) | (696) | 214 | (5,676) |
Reclassification adjustment, tax | (150) | 89 | (346) | 313 |
Total other comprehensive income (loss), tax (expense) benefit | (577) | (607) | (132) | (5,363) |
After-tax | ||||
Other comprehensive income (loss), before reclassifications, net of tax | 793 | 1,293 | (397) | 10,542 |
Reclassification adjustment, net of tax | 277 | (159) | 641 | (579) |
Other comprehensive income (loss), net of tax | 1,070 | 1,134 | 244 | 9,963 |
Unrealized gains (losses) for pension and other post- retirement obligations | ||||
Pretax | ||||
Other comprehensive income (loss), pretax | 1,198 | 1,293 | 1,906 | 2,586 |
Tax (Expense) Benefit | ||||
Total other comprehensive income (loss), tax (expense) benefit | (419) | (453) | (667) | (905) |
After-tax | ||||
Other comprehensive income (loss), net of tax | $ 779 | $ 840 | $ 1,239 | $ 1,681 |
OTHER COMPREHENSIVE INCOME OTHER COMPREHENSIVE INCOME - AOCI Roll Forward (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |
---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | $ 10,308,146 | $ 6,594,606 | |
Other comprehensive income before reclassifications | 42,404 | 92,797 | |
Amounts reclassified from accumulated OCI to earnings | 8,255 | (681) | |
Period change | 92,116 | ||
Balance, end of period | $ 10,654,182 | 10,654,182 | 7,507,304 |
Unrealized gains and (losses) on debt securities | Debt Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | (192,764) | 8,361 | |
Other comprehensive income before reclassifications | 42,801 | 82,145 | |
Amounts reclassified from accumulated OCI to earnings | 6,375 | (1,783) | |
Period change | 49,176 | 80,362 | |
Balance, end of period | (143,588) | (143,588) | 88,723 |
Unrealized gains and (losses) on debt securities | Equity Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | 287 | 176 | |
Other comprehensive income before reclassifications | 0 | 110 | |
Amounts reclassified from accumulated OCI to earnings | 0 | 0 | |
Period change | 0 | 110 | |
Balance, end of period | 287 | 287 | 286 |
Unrealized gains and (losses) on cash flow hedging derivatives | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | (2,634) | (3,948) | |
Other comprehensive income before reclassifications | (397) | 10,542 | |
Amounts reclassified from accumulated OCI to earnings | 641 | (579) | |
Period change | 244 | 9,963 | |
Balance, end of period | (2,390) | (2,390) | 6,015 |
Unrealized gains (losses) for pension and other post- retirement obligations | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | (205,905) | (230,747) | |
Other comprehensive income before reclassifications | 0 | 0 | |
Amounts reclassified from accumulated OCI to earnings | 1,239 | 1,681 | |
Period change | 1,239 | 1,681 | |
Balance, end of period | (204,666) | (204,666) | (229,066) |
Accumulated Other Comprehensive Loss | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | (401,016) | (226,158) | |
Period change | 50,659 | ||
Balance, end of period | $ (350,357) | (350,357) | (134,042) |
Reclassification out of Accumulated Other Comprehensive Income | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Net unrealized loss on securities transfer | $ (98,000) | $ (82,000) |
OTHER COMPREHENSIVE INCOME - Reclassifications (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | $ 44,276 | $ 35,420 | $ 89,471 | $ 72,209 |
Noninterest income - net gains (losses) on sale of securities | 3,694 | 732 | 3,710 | 732 |
Interest income - loans and leases | 699,838 | 469,770 | 1,375,772 | 933,192 |
Noninterest income - other income | 44,219 | 36,187 | 84,954 | 66,319 |
Noninterest expense - personnel costs | (391,997) | (298,949) | (773,997) | (584,346) |
Income before income taxes | 350,388 | 228,823 | 617,766 | 455,094 |
Provision for income taxes | (78,647) | (54,283) | (137,931) | (109,240) |
Net income applicable to common shares | 252,852 | 154,666 | 442,068 | 317,982 |
Unrealized gains and (losses) on debt securities | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | (2,284) | 740 | (5,890) | 1,204 |
Noninterest income - net gains (losses) on sale of securities | 1,855 | 1,630 | (389) | 1,630 |
Accumulated OTTI | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Noninterest income - net gains (losses) on sale of securities | (3,559) | (76) | (3,583) | (76) |
Unrealized gains and (losses) on debt securities and Accumulated OTTI | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | (3,988) | 2,294 | (9,862) | 2,758 |
Provision for income taxes | 1,410 | (811) | 3,487 | (975) |
Net income applicable to common shares | (2,578) | 1,483 | (6,375) | 1,783 |
Unrealized gains and (losses) on cash flow hedging derivatives | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - loans and leases | (427) | 248 | (987) | 893 |
Noninterest income - other income | 0 | 0 | 0 | (1) |
Income before income taxes | (427) | 248 | (987) | 892 |
Provision for income taxes | 150 | (89) | 346 | (313) |
Net income applicable to common shares | (277) | 159 | (641) | 579 |
Amortization of defined benefit pension and post-retirement items: actuarial gains (losses) | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Noninterest expense - personnel costs | (1,690) | (1,785) | (2,890) | (3,570) |
Amortization of defined benefit pension and post-retirement items: Prior service credit | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Noninterest expense - personnel costs | 492 | 492 | 984 | 984 |
Unrealized gains (losses) for pension and other post- retirement obligations | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | (1,198) | (1,293) | (1,906) | (2,586) |
Provision for income taxes | 419 | 453 | 667 | 905 |
Net income applicable to common shares | $ (779) | $ (840) | $ (1,239) | $ (1,681) |
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Basic earnings per common share: | ||||
Net income | $ 271,741 | $ 174,540 | $ 479,835 | $ 345,854 |
Preferred stock dividends | (18,889) | (19,874) | (37,767) | (27,872) |
Net income available to common shareholders | 252,852 | 154,666 | 442,068 | 317,982 |
Effect of assumed preferred stock conversion | 0 | 0 | 0 | 0 |
Net income applicable to diluted earnings per share | $ 252,852 | $ 154,666 | $ 442,068 | $ 317,982 |
Average common shares issued and outstanding (in shares) | 1,088,934 | 798,167 | 1,087,654 | 796,961 |
Basic earnings per common share (in usd per share) | $ 0.23 | $ 0.19 | $ 0.41 | $ 0.40 |
Dilutive potential common shares: | ||||
Stock options and restricted stock units and awards | 16,329 | 9,785 | 17,734 | 10,085 |
Shares held in deferred compensation plans | 3,108 | 2,282 | 3,030 | 2,178 |
Other | 156 | 137 | 154 | 136 |
Dilutive potential common shares: | 19,593 | 12,204 | 20,918 | 12,399 |
Total diluted average common shares issued and outstanding (in shares) | 1,108,527 | 810,371 | 1,108,572 | 809,360 |
Diluted earnings per common share (in usd per share) | $ 0.23 | $ 0.19 | $ 0.40 | $ 0.39 |
Employee Stock Option | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Options outstanding to purchase common stock shares having antidilutive effect | 2,600 | 4,700 | 1,800 | 4,000 |
BENEFIT PLANS - Narrative (Details) |
6 Months Ended |
---|---|
Jun. 30, 2017
year
| |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |
Match - Base pay contributed to the plan | matches participant contributions, up to the first 4% |
Base Pay Contributed To Plan Profit Sharing | profit-sharing contribution equal to 1% of eligible participants’ 2016 |
Post Retirement Benefits | |
Benefit Plans (Textuals) [Abstract] | |
Employees retirement age for health care and life insurance benefits under unfunded defined benefit post-retirement plan | 55 |
Deferred Compensation Arrangement With Individual Requisite Service Period | 10 years |
BENEFIT PLANS - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Pension Benefits | ||||
Components of net periodic benefit expense [Abstract] | ||||
Service cost | $ 640 | $ 1,025 | $ 1,280 | $ 2,050 |
Interest cost | 7,478 | 6,748 | 14,955 | 13,496 |
Expected return on plan assets | (13,803) | (10,224) | (27,606) | (20,447) |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of gain (loss) | 1,747 | 1,865 | 3,494 | 3,729 |
Settlements | 2,500 | 3,400 | 5,000 | 6,800 |
Net periodic (benefit) cost | (1,438) | 2,814 | (2,877) | 5,628 |
Post Retirement Benefits | ||||
Components of net periodic benefit expense [Abstract] | ||||
Service cost | 21 | 0 | 43 | 0 |
Interest cost | 99 | 54 | 198 | 109 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost | (492) | (492) | (984) | (984) |
Amortization of gain (loss) | (54) | (72) | (109) | (144) |
Settlements | 0 | 0 | 0 | 0 |
Net periodic (benefit) cost | $ (426) | $ (510) | $ (852) | $ (1,019) |
BENEFIT PLANS - Costs of Retirement Plans (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Contribution Plan, Cost Recognized | $ 11 | $ 8 | $ 22 | $ 16 |
FAIR VALUES OF ASSETS AND LIABILITIES - Narrative (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | $ 654,087 | $ 438,224 |
Mortgages Held-to-maturity, Fair Value Disclosure | 103,741 | 82,319 |
Fair Value Measured On Recurring Basis Mortgages Held For Sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages Held For Sale Unpaid Principal | 628,684 | 433,760 |
Difference | 25,403 | 4,464 |
Loans held for investment | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Difference | (9,373) | (9,679) |
Mortgages Held-to-maturity, Fair Value Disclosure | 103,741 | 82,319 |
Mortgages Held To Maturity Unpaid Principal | 113,114 | 91,998 |
90 or more days | Fair Value Measured On Recurring Basis Mortgages Held For Sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages Held For Sale Unpaid Principal | 72 | 0 |
Difference | 0 | 0 |
Loans held for sale | 72 | 0 |
90 or more days | Loans held for investment | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Difference | (2,408) | (2,674) |
Mortgages Held-to-maturity, Fair Value Disclosure | 13,039 | 8,408 |
Mortgages Held To Maturity Unpaid Principal | $ 15,447 | $ 11,082 |
FAIR VALUES OF ASSETS AND LIABILITIES - Recurring Basis (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Assets measured at fair value on a recurring basis | ||
Loans held for investment | $ 103,741 | $ 82,319 |
Consumer loans | 103,741 | 82,319 |
Trading account securities | 94,767 | 133,295 |
Available-for-sale and other securities | 15,388,306 | 15,562,837 |
U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 10,644 | 5,497 |
Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 10,624,055 | 10,673,342 |
Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 100,291 | 73,542 |
Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 3,312,500 | 3,250,057 |
Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 144,035 | 198,683 |
Recurring Basis | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 654,087 | 438,224 |
Trading account securities | 94,767 | 133,295 |
Available-for-sale and other securities | 14,802,835 | 15,015,133 |
MSRs | 12,528 | 13,747 |
Derivative assets netting | (144,951) | (181,940) |
Net amounts of assets presented in the condensed consolidated balance sheets | 190,012 | 238,219 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts offset in the condensed consolidated balance sheets | (212,487) | (272,361) |
Derivative liabilities | 78,358 | 98,286 |
Short-term borrowings | 4,580 | 474 |
Recurring Basis | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 10,644 | 5,497 |
Recurring Basis | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 10,624,055 | 10,673,342 |
Recurring Basis | Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 6,868 | |
Available-for-sale and other securities | 100,291 | 73,542 |
Recurring Basis | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 323 | 1,148 |
Available-for-sale and other securities | 3,312,500 | 3,250,057 |
Recurring Basis | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 594,799 | 793,481 |
Recurring Basis | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 144,035 | 198,683 |
Recurring Basis | Other Debt Obligations [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 87,576 | 132,147 |
Available-for-sale and other securities | 16,511 | 20,531 |
Recurring Basis | Level 1 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 0 | 0 |
Loans held for investment | 0 | 0 |
Trading account securities | 86,560 | 132,147 |
Available-for-sale and other securities | 23,129 | 22,085 |
MSRs | 0 | 0 |
Gross amounts of recognized assets | 0 | 0 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 0 | 0 |
Short-term borrowings | 4,580 | 474 |
Recurring Basis | Level 1 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 10,644 | 5,497 |
Recurring Basis | Level 1 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Other Debt Obligations [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 86,560 | 132,147 |
Available-for-sale and other securities | 12,485 | 16,588 |
Recurring Basis | Level 2 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 654,087 | 438,224 |
Loans held for investment | 59,886 | 34,439 |
Trading account securities | 8,207 | 1,148 |
Available-for-sale and other securities | 11,865,124 | 12,119,001 |
MSRs | 0 | 0 |
Gross amounts of recognized assets | 325,736 | 414,412 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 284,796 | 362,777 |
Short-term borrowings | 0 | 0 |
Recurring Basis | Level 2 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 2 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 10,624,055 | 10,673,342 |
Recurring Basis | Level 2 | Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 6,868 | |
Available-for-sale and other securities | 100,291 | 73,542 |
Recurring Basis | Level 2 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 323 | 1,148 |
Available-for-sale and other securities | 440,493 | 452,013 |
Recurring Basis | Level 2 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 552,224 | 717,478 |
Recurring Basis | Level 2 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 144,035 | 198,683 |
Recurring Basis | Level 2 | Other Debt Obligations [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 1,016 | 0 |
Available-for-sale and other securities | 4,026 | 3,943 |
Recurring Basis | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 0 | 0 |
Consumer loans | 43,855 | 47,880 |
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 2,914,582 | 2,874,047 |
MSRs | 12,528 | 13,747 |
Gross amounts of recognized assets | 9,227 | 5,747 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 6,049 | 7,870 |
Short-term borrowings | 0 | 0 |
Recurring Basis | Level 3 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 2,872,007 | 2,798,044 |
Recurring Basis | Level 3 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 42,575 | 76,003 |
Recurring Basis | Level 3 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Other Debt Obligations [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | $ 0 | $ 0 |
FAIR VALUES OF ASSETS AND LIABILITIES - Level 3 Roll Forward (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Net Derivative Instruments Level 3 Roll Forward: | ||||
Opening balance | $ (2,123) | $ 6,056 | ||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | (2,457) | (3,423) | ||
Total gains/losses for the period: | ||||
Included in earnings | 7,758 | 10,118 | ||
Included in OCI | 0 | 0 | ||
Purchases/originations | 0 | 0 | ||
Sales | 0 | 0 | ||
Repayments | 0 | 0 | ||
Issues | 0 | 0 | ||
Settlements | 0 | 0 | ||
Closing balance | $ 3,178 | $ 12,751 | 3,178 | 12,751 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 7,758 | 10,218 | ||
MSRs | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 13,307 | 14,819 | 13,747 | 17,585 |
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | (779) | (1,714) | (1,219) | (4,480) |
Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Closing balance | 12,528 | 13,105 | 12,528 | 13,105 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | (779) | (1,714) | (1,219) | (4,480) |
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Derivative Instruments | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 2,694 | 10,347 | ||
Total gains/losses for the period: | ||||
Included in earnings | 2,608 | 4,912 | ||
Included in OCI | 0 | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Repayments | 0 | 0 | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | ||
Closing balance | 3,178 | 12,751 | 3,178 | 12,751 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 2,608 | 4,912 | ||
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 2,124 | 2,508 | ||
Municipal securities | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 2,867,652 | 2,281,743 | 2,798,044 | 2,095,551 |
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | (1,180) | 0 | (2,975) | 0 |
Included in OCI | 12,419 | 7,486 | 32,894 | 19,326 |
Purchases | 114,944 | 46,457 | 247,609 | 283,907 |
Sales | 0 | (36,657) | 0 | (36,657) |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (121,828) | (61,054) | (203,565) | (124,152) |
Closing balance | 2,872,007 | 2,237,975 | 2,872,007 | 2,237,975 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 12,419 | 0 | 32,894 | 0 |
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Asset-backed Securities | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 59,492 | 94,329 | 76,003 | 100,337 |
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | (3,557) | 2 | (3,528) | 2 |
Included in OCI | 5,598 | 5,842 | 8,769 | 674 |
Purchases | 0 | 0 | 0 | 0 |
Sales | (18,594) | (27,794) | (37,728) | (27,794) |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (364) | (1,000) | (941) | (1,840) |
Closing balance | 42,575 | 71,379 | 42,575 | 71,379 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 5,598 | 2 | 8,769 | 2 |
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Automobile | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 44,219 | 1,216 | 47,880 | 1,748 |
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | 1,493 | 0 | 1,430 | 0 |
Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Repayments | (1,857) | (291) | (5,455) | (823) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Closing balance | 43,855 | 925 | 43,855 | 925 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 0 | 0 | $ 0 | $ 0 |
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | $ 0 | $ 0 |
FAIR VALUES OF ASSETS AND LIABILITIES - Level 3 Classification of Gains/Losses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | $ 7,758 | $ 10,118 | ||
Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | 7,758 | 10,118 | ||
Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | 0 | 0 | ||
Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | 0 | 0 | ||
Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | 0 | 0 | ||
MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Mortgage banking income | $ 779 | $ 1,714 | ||
Securities gains (losses) | 0 | 0 | ||
Interest and fee income | 0 | 0 | ||
Noninterest income | 0 | 0 | ||
Total | (779) | (1,714) | ||
Asset, gain (loss) included in earnings | (779) | (1,714) | (1,219) | (4,480) |
MSRs | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | (1,219) | (4,480) | ||
MSRs | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
MSRs | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
MSRs | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Derivative instruments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Mortgage banking income | (2,608) | (4,912) | ||
Securities gains (losses) | 0 | 0 | ||
Interest and fee income | 0 | 0 | ||
Noninterest income | 0 | 0 | ||
Total | 2,608 | 4,912 | ||
Municipal securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Mortgage banking income | 0 | 0 | ||
Securities gains (losses) | (1,180) | 0 | ||
Interest and fee income | 0 | 0 | ||
Noninterest income | 0 | 0 | ||
Total | (1,180) | 0 | ||
Asset, gain (loss) included in earnings | (1,180) | 0 | (2,975) | 0 |
Municipal securities | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Municipal securities | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | (2,975) | 0 | ||
Municipal securities | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Municipal securities | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Asset-backed Securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Mortgage banking income | 0 | 0 | ||
Securities gains (losses) | (3,557) | 0 | ||
Interest and fee income | 0 | 0 | ||
Noninterest income | 0 | 2 | ||
Total | (3,557) | 2 | ||
Asset, gain (loss) included in earnings | (3,557) | 2 | (3,528) | 2 |
Asset-backed Securities | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Asset-backed Securities | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | (3,528) | 0 | ||
Asset-backed Securities | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Asset-backed Securities | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 2 | ||
Automobile | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Mortgage banking income | 0 | 0 | ||
Securities gains (losses) | 0 | 0 | ||
Interest and fee income | 0 | 0 | ||
Noninterest income | 1,493 | 0 | ||
Total | 1,493 | 0 | ||
Asset, gain (loss) included in earnings | $ 1,493 | $ 0 | 1,430 | 0 |
Automobile | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Automobile | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Automobile | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Automobile | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | $ 1,430 | $ 0 |
FAIR VALUES OF ASSETS AND LIABILITIES - Fair Value Option (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for investment | $ 103,741 | $ 82,319 |
Loans held for sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale, aggregate unpaid principal | 628,684 | 433,760 |
Difference | 25,403 | 4,464 |
Loans held for investment | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for investment | 103,741 | 82,319 |
Loans held for investment, aggregate unpaid principal | 113,114 | 91,998 |
Difference | (9,373) | (9,679) |
90 or more days | Loans held for sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale, fair value carrying amount | 72 | 0 |
Loans held for sale, aggregate unpaid principal | 72 | 0 |
Difference | 0 | 0 |
90 or more days | Loans held for investment | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for investment | 13,039 | 8,408 |
Loans held for investment, aggregate unpaid principal | 15,447 | 11,082 |
Difference | $ (2,408) | $ (2,674) |
FAIR VALUES OF ASSETS AND LIABILITIES - Fair Value Option-Changs in Fair Value (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Loans held for sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Net gains (losses) from fair value changes | $ 4,551 | $ 8,870 | $ 13,616 | $ 13,519 |
Consumer loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Net gains (losses) from fair value changes | $ 1,493 | $ 0 | $ 1,430 | $ 0 |
FAIR VALUES OF ASSETS AND LIABILITIES - Non-Recurring Basis (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | $ 8,536,471 | $ 8,309,159 |
Held-to-maturity securities | 8,279,577 | 7,806,939 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 67,391,314 | 66,323,583 |
Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 8,673,908 | 8,387,444 |
Held-to-maturity securities | 8,259,402 | 7,787,268 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 67,263,687 | 66,294,639 |
Level 1 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 0 | 0 |
Held-to-maturity securities | 0 | 0 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 0 | 0 |
Level 2 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 8,278,588 | 7,980,176 |
Held-to-maturity securities | 8,259,402 | 7,787,268 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 0 | 0 |
Level 3 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 395,320 | 407,268 |
Held-to-maturity securities | 0 | 0 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 67,263,687 | 66,294,639 |
Nonrecurring Basis | ||
Assets measured at fair value on a nonrecurring basis | ||
Impaired loans | (53,818) | |
Nonrecurring Basis | Fair Value | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | 175,454 | |
Impaired loans | (36,118) | |
Other real estate owned | (43,816) | |
Nonrecurring Basis | Total Gains/(Losses) | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | (1,006) | |
Impaired loans | 3,123 | |
Other real estate owned | (1,742) | |
Nonrecurring Basis | Level 1 | Fair Value | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | 0 | |
Impaired loans | 0 | |
Other real estate owned | 0 | |
Nonrecurring Basis | Level 2 | Fair Value | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | 0 | |
Impaired loans | 0 | |
Other real estate owned | 0 | |
Nonrecurring Basis | Level 3 | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | $ 171,309 | |
Nonrecurring Basis | Level 3 | Fair Value | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | 175,454 | |
Impaired loans | (36,118) | |
Other real estate owned | $ (43,816) |
FAIR VALUES OF ASSETS AND LIABILITIES - Significant Unobservable Level 3 Inputs (Details) - USD ($) $ in Thousands |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Fair Value Disclosures [Abstract] | |||
Available-for-sale and other securities | $ 15,388,306 | $ 15,562,837 | |
Consumer loans | 103,741 | 82,319 | |
Fair Value, Measurements, Recurring | |||
Fair Value Disclosures [Abstract] | |||
MSRs | 12,528 | 13,747 | |
Available-for-sale and other securities | 14,802,835 | 15,015,133 | |
Fair Value, Measurements, Recurring | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
MSRs | 12,528 | 13,747 | |
Gross amounts of recognized assets | 9,227 | 5,747 | |
Gross amounts of recognized liabilities | 6,049 | 7,870 | |
Available-for-sale and other securities | 2,914,582 | 2,874,047 | |
Consumer loans | 43,855 | 47,880 | |
Fair Value, Measurements, Nonrecurring | |||
Fair Value Disclosures [Abstract] | |||
Impaired loans Fair Value Disclosure | 53,818 | ||
Accrued income and other assets Fair Value Disclosure | 50,930 | ||
Fair Value, Measurements, Nonrecurring | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
MSRs | 171,309 | ||
Asset-backed Securities | Fair Value, Measurements, Recurring | |||
Fair Value Disclosures [Abstract] | |||
Available-for-sale and other securities | 594,799 | 793,481 | |
Asset-backed Securities | Fair Value, Measurements, Recurring | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Available-for-sale and other securities | 42,575 | 76,003 | |
Municipal securities | |||
Fair Value Disclosures [Abstract] | |||
Available-for-sale and other securities | 3,312,500 | 3,250,057 | |
Municipal securities | Fair Value, Measurements, Recurring | |||
Fair Value Disclosures [Abstract] | |||
Available-for-sale and other securities | 3,312,500 | 3,250,057 | |
Municipal securities | Fair Value, Measurements, Recurring | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Available-for-sale and other securities | $ 2,872,007 | $ 2,798,044 | |
Cost Approach Valuation Technique | Maximum | Fair Value, Measurements, Recurring | MSRs | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Constant prepayment rate | 31.00% | 34.40% | |
Spread over forward interest rate swap rates | 0.1 | 0.092 | |
Cost Approach Valuation Technique | Maximum | Fair Value, Measurements, Recurring | Private label CMO | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 10.30% | 10.00% | |
Cumulative default | 38.40% | 37.80% | |
Loss given default | 80.00% | 80.00% | |
Cost Approach Valuation Technique | Maximum | Fair Value, Measurements, Recurring | Asset-backed Securities | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 12.30% | 12.00% | |
Cumulative prepayment rate | 72.00% | 73.00% | |
Cumulative default | 100.00% | 100.00% | |
Loss given default | 100.00% | 100.00% | |
Cure given deferral | 75.00% | 75.00% | |
Cost Approach Valuation Technique | Maximum | Fair Value, Measurements, Recurring | Loans held for investment | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 17.60% | 16.20% | |
Cost Approach Valuation Technique | Maximum | Fair Value, Measurements, Nonrecurring | MSRs | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Constant prepayment rate | 21.00% | 30.40% | |
Spread over forward interest rate swap rates | 0.2 | 0.2 | |
Cost Approach Valuation Technique | Minimum | Fair Value, Measurements, Recurring | MSRs | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Constant prepayment rate | 8.00% | 5.63% | |
Spread over forward interest rate swap rates | 0.030 | 0.030 | |
Cost Approach Valuation Technique | Minimum | Fair Value, Measurements, Recurring | Private label CMO | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 0.00% | 0.00% | |
Cumulative default | 0.00% | 0.30% | |
Loss given default | 5.00% | 5.00% | |
Cost Approach Valuation Technique | Minimum | Fair Value, Measurements, Recurring | Asset-backed Securities | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 6.90% | 5.00% | |
Cumulative prepayment rate | 0.00% | 0.00% | |
Cumulative default | 0.70% | 1.10% | |
Loss given default | 85.00% | 85.00% | |
Cure given deferral | 0.00% | 0.00% | |
Cost Approach Valuation Technique | Minimum | Fair Value, Measurements, Recurring | Loans held for investment | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 7.00% | 5.40% | |
Cost Approach Valuation Technique | Minimum | Fair Value, Measurements, Nonrecurring | MSRs | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Constant prepayment rate | 7.00% | 5.57% | |
Spread over forward interest rate swap rates | 0.03 | 0.042 | |
Cost Approach Valuation Technique | Weighted Average | Fair Value, Measurements, Recurring | MSRs | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Constant prepayment rate | 11.00% | 10.90% | |
Spread over forward interest rate swap rates | 0.088 | 0.054 | |
Cost Approach Valuation Technique | Weighted Average | Fair Value, Measurements, Recurring | Private label CMO | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 3.90% | 3.60% | |
Cumulative default | 2.70% | 4.00% | |
Loss given default | 23.20% | 24.10% | |
Cost Approach Valuation Technique | Weighted Average | Fair Value, Measurements, Recurring | Asset-backed Securities | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 7.00% | 6.30% | |
Cumulative prepayment rate | 8.20% | 6.50% | |
Cumulative default | 10.20% | 11.20% | |
Loss given default | 96.60% | 96.30% | |
Cure given deferral | 37.70% | 36.20% | |
Cost Approach Valuation Technique | Weighted Average | Fair Value, Measurements, Recurring | Loans held for investment | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Discount rate | 6.60% | 5.60% | |
Cost Approach Valuation Technique | Weighted Average | Fair Value, Measurements, Nonrecurring | MSRs | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Constant prepayment rate | 8.00% | 7.80% | |
Spread over forward interest rate swap rates | 0.108 | 0.117 | |
Market Approach Valuation Technique | Maximum | Fair Value, Measurements, Recurring | Derivative Instruments | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Net market price | 31.70% | 25.40% | |
Estimated Pull through % | 99.00% | 99.80% | |
Market Approach Valuation Technique | Minimum | Fair Value, Measurements, Recurring | Derivative Instruments | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Net market price | (9.20%) | (7.10%) | |
Estimated Pull through % | 9.00% | 8.10% | |
Market Approach Valuation Technique | Weighted Average | Fair Value, Measurements, Recurring | Derivative Instruments | Level 3 | |||
Fair Value Disclosures [Abstract] | |||
Net market price | 1.80% | 1.10% | |
Estimated Pull through % | 78.00% | 7.70% |
FAIR VALUES OF ASSETS AND LIABILITIES - Balance Sheet Location (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
||
---|---|---|---|---|
Financial Assets: | ||||
Trading account securities | $ 94,767 | $ 133,295 | ||
Loans held for sale | [1] | 748,077 | 512,951 | |
Available-for-sale and other securities | 15,388,306 | 15,562,837 | ||
Held-to-maturity securities, Total | 8,279,577 | 7,806,939 | ||
Net loans and direct financing leases | 67,391,314 | 66,323,583 | ||
Financial Liabilities: | ||||
Deposits | 75,933,373 | 75,607,717 | ||
Short-term borrowings | 4,552,877 | 3,692,654 | ||
Long-term borrowings | 8,536,471 | 8,309,159 | ||
Reported Value Measurement | ||||
Financial Assets: | ||||
Cash and short-term assets | 1,592,624 | 1,443,037 | ||
Trading account securities | 94,767 | 133,295 | ||
Loans held for sale | 748,077 | 512,951 | ||
Available-for-sale and other securities | 15,388,306 | 15,562,837 | ||
Held-to-maturity securities, Total | 8,279,577 | 7,806,939 | ||
Net loans and direct financing leases | 67,391,314 | 66,323,583 | ||
Derivatives | 190,012 | 238,219 | ||
Financial Liabilities: | ||||
Deposits | 75,933,373 | 75,607,717 | ||
Short-term borrowings | 4,552,877 | 3,692,654 | ||
Long-term borrowings | 8,536,471 | 8,309,159 | ||
Derivatives | 78,358 | 98,286 | ||
Fair Value | ||||
Financial Assets: | ||||
Cash and short-term assets | 1,592,624 | 1,443,037 | ||
Trading account securities | 94,767 | 133,295 | ||
Loans held for sale | 752,800 | 515,640 | ||
Available-for-sale and other securities | 15,388,306 | 15,562,837 | ||
Held-to-maturity securities, Total | 8,259,402 | 7,787,268 | ||
Net loans and direct financing leases | 67,263,687 | 66,294,639 | ||
Derivatives | 190,012 | 238,219 | ||
Financial Liabilities: | ||||
Deposits | 77,382,067 | 76,161,091 | ||
Short-term borrowings | 4,552,877 | 3,692,654 | ||
Long-term borrowings | 8,673,908 | 8,387,444 | ||
Derivatives | 78,358 | 98,286 | ||
Fair Value | Level 1 | ||||
Financial Assets: | ||||
Held-to-maturity securities, Total | 0 | 0 | ||
Net loans and direct financing leases | 0 | 0 | ||
Financial Liabilities: | ||||
Deposits | 0 | 0 | ||
Short-term borrowings | 4,580 | 474 | ||
Long-term borrowings | 0 | 0 | ||
Fair Value | Level 2 | ||||
Financial Assets: | ||||
Held-to-maturity securities, Total | 8,259,402 | 7,787,268 | ||
Net loans and direct financing leases | 0 | 0 | ||
Financial Liabilities: | ||||
Deposits | 73,621,776 | 72,319,328 | ||
Short-term borrowings | 0 | 0 | ||
Long-term borrowings | 8,278,588 | 7,980,176 | ||
Fair Value | Level 3 | ||||
Financial Assets: | ||||
Held-to-maturity securities, Total | 0 | 0 | ||
Net loans and direct financing leases | 67,263,687 | 66,294,639 | ||
Financial Liabilities: | ||||
Deposits | 3,760,291 | 3,841,763 | ||
Short-term borrowings | 4,548,297 | 3,692,180 | ||
Long-term borrowings | $ 395,320 | $ 407,268 | ||
|
DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017
USD ($)
|
Jun. 30, 2016
USD ($)
|
Jun. 30, 2017
USD ($)
group
|
Jun. 30, 2016
USD ($)
|
Dec. 31, 2016
USD ($)
|
|
Derivative [Line Items] | |||||
Increase (decrease) to net interest income due to derivative adjustment | $ 6,000,000 | $ 19,000,000 | $ 16,000,000 | $ 40,000,000 | |
Gain (loss) to be reclassified during next 12 months, net | (2,000,000) | (2,000,000) | |||
Purchase of interest rate caps and derivative financial instruments, notional value | 9,600,000,000 | 9,600,000,000 | |||
Total notional amount corresponds to trading assets, fair value | 1,000,000 | 1,000,000 | |||
Notional amount corresponds to trading liabilities, fair value (less than) | 2,000,000 | 2,000,000 | |||
Credit risks from interest rate swaps used for trading purposes | 156,000,000 | $ 156,000,000 | $ 196,000,000 | ||
Number of primary groups | group | 2 | ||||
Aggregate credit risk, net of collateral | 44,000,000 | $ 44,000,000 | 26,000,000 | ||
Investment securities and cash collateral pledged by Huntington | 120,000,000 | 120,000,000 | |||
Investment securities and cash collateral pledged to Huntington | 53,000,000 | 53,000,000 | |||
Swap | |||||
Derivative [Line Items] | |||||
Derivative Liability | 6,000,000 | 6,000,000 | |||
Derivative used in trading activity | |||||
Derivative [Line Items] | |||||
Net derivative asset (liability) | 80,000,000 | 80,000,000 | 80,000,000 | ||
Derivative financial instruments used by Huntington on behalf of customers including offsetting derivatives, notional value | 21,000,000,000 | 21,000,000,000 | 21,000,000,000 | ||
Derivative used in Mortgage Banking Activities | |||||
Derivative [Line Items] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | 228,000,000 | 228,000,000 | 300,000,000 | ||
Gains (losses) related to derivative instruments Included in total MSR | 2,000,000 | $ 6,000,000 | 1,000,000 | $ 18,000,000 | |
Share Swap Economic Hedge | |||||
Derivative [Line Items] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | 28,000,000 | 28,000,000 | $ 20,000,000 | ||
Derivative, Fair Value, Net | 11,000,000 | 11,000,000 | |||
Deposits | |||||
Derivative [Line Items] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | 0 | 0 | |||
Fair Value Hedging | |||||
Derivative [Line Items] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | 7,675,000,000 | 7,675,000,000 | |||
Fair Value Hedging | Deposits | |||||
Derivative [Line Items] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | 0 | 0 | |||
Cash Flow Hedging | |||||
Derivative [Line Items] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | 1,925,000,000 | 1,925,000,000 | |||
Cash Flow Hedging | Deposits | |||||
Derivative [Line Items] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | $ 0 | $ 0 |
DERIVATIVE FINANCIAL INSTRUMENTS - Hedging Instruments (Details) - USD ($) |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $ 9,600,000,000 | |
Accrued income and other assets | ||
Asset derivatives included in accrued income and other assets | ||
Interest rate contracts designated as hedging instruments | 40,416,000 | $ 46,440,000 |
Interest rate contracts not designated as hedging instruments | 192,000,000 | 213,587,000 |
Foreign exchange contracts not designated as hedging instruments | 27,655,000 | 23,265,000 |
Commodities contracts not designated as hedging instruments | 53,295,000 | 108,026,000 |
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value | 10,728,000 | 9,775,000 |
Total contracts | 324,094,000 | 401,093,000 |
Accrued expenses and other liabilities | ||
Liability derivatives included in accrued expenses and other liabilities | ||
Interest rate contracts designated as hedging instruments | 90,326,000 | 99,996,000 |
Interest rate contracts not designated as hedging instruments | 114,889,000 | 143,976,000 |
Foreign exchange contracts not designated as hedging instruments | 27,883,000 | 19,576,000 |
Commodities contracts not designated as hedging instruments | 49,520,000 | 104,328,000 |
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value | 5,694,000 | 0 |
Total contracts | 288,312,000 | 367,876,000 |
Share Swap Economic Hedge [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $ 28,000,000 | $ 20,000,000 |
DERIVATIVE FINANCIAL INSTRUMENTS - Asset and Liability Management (Details) |
Jun. 30, 2017
USD ($)
|
---|---|
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | $ 9,600,000,000 |
Fair Value Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 7,675,000,000 |
Cash Flow Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 1,925,000,000 |
Loan | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 1,925,000,000 |
Loan | Fair Value Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 0 |
Loan | Cash Flow Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 1,925,000,000 |
Deposits | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 0 |
Deposits | Fair Value Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 0 |
Deposits | Cash Flow Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 0 |
Subordinated notes | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 950,000,000 |
Subordinated notes | Fair Value Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 950,000,000 |
Subordinated notes | Cash Flow Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 0 |
Other long-term debt | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 6,725,000,000 |
Other long-term debt | Fair Value Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | 6,725,000,000 |
Other long-term debt | Cash Flow Hedging | |
Notional Disclosures [Abstract] | |
Derivative, Notional Amount | $ 0 |
DERIVATIVE FINANCIAL INSTRUMENTS - Asset and Liability Managemen Add Info (Details Add Info) $ in Thousands |
6 Months Ended |
---|---|
Jun. 30, 2017
USD ($)
| |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Value | $ 9,600,000 |
Average Maturity (years) | 2 years 4 months |
Fair Value | $ (49,910) |
Weighted-Average Rate Receive | 1.44% |
Weighted-Average Rate Pay | 1.24% |
Asset conversion swaps - Receive Fixed - Generic | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Value | $ 1,925,000 |
Average Maturity (years) | 3 months 18 days |
Fair Value | $ (3,420) |
Weighted-Average Rate Receive | 1.07% |
Weighted-Average Rate Pay | 1.44% |
Liability conversion swaps - Receive Fixed - Generic | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Value | $ 7,675,000 |
Average Maturity (years) | 2 years 10 months |
Fair Value | $ (46,490) |
Weighted-Average Rate Receive | 1.54% |
Weighted-Average Rate Pay | 1.19% |
DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | $ 793 | $ 1,293 | $ (397) | $ 10,542 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 427 | (248) | (987) | 892 |
Deposits | Interest expense deposits | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 0 | 0 | (76) | (82) |
Hedged Deposits | Interest expense deposits | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 0 | 0 | 0 | 72 |
Subordinated notes | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 2,277 | 4 | (2,431) | 6,809 |
Hedged Subordinated notes | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | (2,235) | (4) | 3,168 | (6,809) |
Other long-term debt | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 15,832 | 22,017 | 5,551 | 83,049 |
Hedged Other long term debt | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | (16,913) | (21,047) | (8,378) | (80,834) |
Loan | Interest and fee income loans and leases | Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 793 | 1,293 | (397) | 10,542 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 427 | (248) | (987) | 893 |
Securities Investment | Interest and fee income investment securities | Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 0 | 0 | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | $ 0 | $ 0 | $ 0 | $ (1) |
DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value Hedges (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Loan | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges | $ (31) | $ 421 | $ (134) | $ 377 |
DERIVATIVE FINANCIAL INSTRUMENTS - Mortgage Banking Activities (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Interest rate lock agreements | |||||
Derivative assets: | |||||
Total derivative assets | $ 9,227 | $ 9,227 | $ 5,747 | ||
Derivative liabilities: | |||||
Total derivative liabilities | 355 | 355 | 1,598 | ||
Forward trades and options | |||||
Derivative assets: | |||||
Total derivative assets | 1,642 | 1,642 | 13,319 | ||
Derivative liabilities: | |||||
Total derivative liabilities | 2,178 | 2,178 | 1,173 | ||
Derivative used in Mortgage Banking Activities | |||||
Derivatives, Fair Value [Line Items] | |||||
Gains losses related to derivative instruments Included in Mortgage securities | 2,000 | $ 6,000 | 1,000 | $ 18,000 | |
Derivative assets: | |||||
Total derivative assets | 10,869 | 10,869 | 19,066 | ||
Derivative liabilities: | |||||
Total derivative liabilities | $ 2,533 | $ 2,533 | $ 2,771 |
DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Assets (Details) - Derivative Contract - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Offsetting Derivative Assets [Abstract] | ||
Gross amounts of recognized assets | $ 334,963 | $ 420,159 |
Gross amounts offset in the condensed consolidated balance sheets | 144,951 | 181,940 |
Net amounts of assets presented in the condensed consolidated balance sheets | 190,012 | 238,219 |
Gross amounts not offset in the condensed consolidated balance sheets, Financial instruments | (5,009) | (34,328) |
Gross amounts not offset in the condensed consolidated balance sheets, cash collateral received | (18,448) | (5,428) |
Net amount | $ 166,555 | $ 198,463 |
DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Liabilities (Details) - Derivative Contract - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts of recognized liabilities | $ 290,845 | $ 370,647 |
Gross amounts offset in the condensed consolidated balance sheets | (212,487) | (272,361) |
Derivative liabilities | 78,358 | 98,286 |
Gross amounts not offset in the condensed consolidated balance sheets, Financial instruments | 0 | (7,550) |
Gross amounts not offset in the condensed consolidated balance sheets, Cash collateral received | (24,348) | (23,943) |
Net amount | $ 54,010 | $ 66,793 |
VIEs - Narrative (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Jun. 30, 2015 |
|
Trust 2016 Unconsolidated [Member] | ||
Variable Interest Entity [Line Items] | ||
Total of automobile loans transferred in securitization transactions | $ 1,500 | |
2015-1 Automobile Trust | ||
Variable Interest Entity [Line Items] | ||
Total of automobile loans transferred in securitization transactions | $ 750 |
VIEs - Consolidated (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Assets | ||
Cash | $ 1,515,476 | $ 1,384,770 |
Net loans and leases | 67,391,314 | 66,323,583 |
Accrued income and other assets | 2,016,488 | 2,062,976 |
Total assets | 101,406,779 | 99,714,097 |
Liabilities | ||
Long-term borrowings | 8,536,471 | 8,309,159 |
Accrued interest and other liabilities | 1,729,876 | 1,796,421 |
Total liabilities | 90,752,597 | 89,405,951 |
Equity | ||
Total liabilities and shareholders’ equity | 101,406,779 | 99,714,097 |
Trust 2016 Unconsolidated [Member] | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 10,464 | 14,770 |
Total Liabilities | 0 | 0 |
Maximum Exposure to Loss | 10,464 | 14,770 |
Huntington Technology Funding Trust Series 2014A | ||
Assets | ||
Cash | 1,566 | 1,564 |
Net loans and leases | 43,039 | 69,825 |
Accrued income and other assets | 0 | 0 |
Total assets | 44,605 | 71,389 |
Liabilities | ||
Long-term borrowings | 36,040 | 57,494 |
Accrued interest and other liabilities | 0 | 0 |
Total liabilities | 36,040 | 57,494 |
Equity | ||
Beneficial interest owned by third party | 8,565 | 13,895 |
Total liabilities and shareholders’ equity | 44,605 | 71,389 |
Franklin 2009 Trust | ||
Assets | ||
Cash | 0 | 0 |
Net loans and leases | 0 | 0 |
Accrued income and other assets | 271 | 281 |
Total assets | 271 | 281 |
Liabilities | ||
Long-term borrowings | 0 | 0 |
Accrued interest and other liabilities | 271 | 281 |
Total liabilities | 271 | 281 |
Equity | ||
Beneficial interest owned by third party | 0 | 0 |
Total liabilities and shareholders’ equity | 271 | 281 |
Consolidated Trusts | ||
Assets | ||
Cash | 1,566 | 1,564 |
Net loans and leases | 43,039 | 69,825 |
Accrued income and other assets | 271 | 281 |
Total assets | 44,876 | 71,670 |
Liabilities | ||
Long-term borrowings | 36,040 | 57,494 |
Accrued interest and other liabilities | 271 | 281 |
Total liabilities | 36,311 | 57,775 |
Equity | ||
Beneficial interest owned by third party | 8,565 | 13,895 |
Total liabilities and shareholders’ equity | $ 44,876 | $ 71,670 |
VIEs - Unconsolidated VIEs (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Trust 2016 Unconsolidated [Member] | ||
Variable Interest Entity [Line Items] | ||
Total Assets | $ 10,464 | $ 14,770 |
Total Liabilities | 0 | 0 |
Maximum Exposure to Loss | 10,464 | 14,770 |
2015-1 Automobile Trust | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 2,046 | 2,227 |
Total Liabilities | 0 | 0 |
Maximum Exposure to Loss | 2,046 | 2,227 |
Trust Preferred Securities | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 13,919 | 13,919 |
Total Liabilities | 252,568 | 252,552 |
Maximum Exposure to Loss | 0 | 0 |
Low Income Housing Tax Credit Partnerships | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 615,691 | 576,880 |
Total Liabilities | 327,793 | 292,721 |
Maximum Exposure to Loss | 615,691 | 576,880 |
Other Investments | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 110,318 | 79,195 |
Total Liabilities | 55,026 | 42,316 |
Maximum Exposure to Loss | 110,318 | 79,195 |
Total | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 752,438 | 686,991 |
Total Liabilities | 635,387 | 587,589 |
Maximum Exposure to Loss | $ 738,519 | $ 673,072 |
VIEs - Trust preferred Securities (Details) $ in Thousands |
3 Months Ended |
---|---|
Jun. 30, 2017
USD ($)
| |
Summary of Outstanding Trust Preferred Securities | |
Principal amount of subordinated note/ debenture issued to trust | $ 252,568 |
Investment in unconsolidated subsidiary | $ 13,919 |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Maximum year to defer payment of interest on Debenture | 5 years |
Huntington Capital I | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 1.87% |
Principal amount of subordinated note/ debenture issued to trust | $ 69,730 |
Investment in unconsolidated subsidiary | $ 6,186 |
Huntington Capital I | Three-Month LIBOR | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 0.70% |
Huntington Capital II | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 1.87% |
Principal amount of subordinated note/ debenture issued to trust | $ 32,093 |
Investment in unconsolidated subsidiary | $ 3,093 |
Huntington Capital II | Three-Month LIBOR | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 0.625% |
Sky Financial Capital Trust III | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 2.70% |
Principal amount of subordinated note/ debenture issued to trust | $ 72,165 |
Investment in unconsolidated subsidiary | $ 2,165 |
Sky Financial Capital Trust III | Three-Month LIBOR | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 1.40% |
Sky Financial Capital Trust IV | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 2.55% |
Principal amount of subordinated note/ debenture issued to trust | $ 74,320 |
Investment in unconsolidated subsidiary | $ 2,320 |
Camco Financial Trust | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 3.69% |
Principal amount of subordinated note/ debenture issued to trust | $ 4,260 |
Investment in unconsolidated subsidiary | $ 155 |
Camco Financial Trust | Three-Month LIBOR | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 1.33% |
VIEs - Low Income Housing Tax Credit Partnership (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Low Income Housing Tax Credit Partnerships | |||||
Variable Interest Entity [Line Items] | |||||
Affordable housing tax credit investments | $ 942,769 | $ 942,769 | $ 877,237 | ||
Less: amortization | (327,078) | (327,078) | (300,357) | ||
Net affordable housing tax credit investments | 615,691 | 615,691 | 576,880 | ||
Unfunded commitments | 327,793 | 327,793 | $ 292,721 | ||
Tax credits and other tax benefits recognized | 22,671 | $ 18,150 | 45,955 | $ 36,434 | |
Proportional Amortization Method | |||||
Variable Interest Entity [Line Items] | |||||
Tax credit amortization expense included in provision for income taxes | 17,220 | 12,499 | 34,182 | 24,905 | |
Equity Method | |||||
Variable Interest Entity [Line Items] | |||||
Tax credit investment (gains) losses included in non-interest income | $ 0 | $ 132 | $ 109 | $ 264 |
COMMITMENTS AND CONTINGENT LIABILITIES - Commitments to Extend Credit (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Commercial | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | $ 15,684,661 | $ 15,190,056 |
Consumer | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 12,727,316 | 12,235,943 |
Commercial Real Estate | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 1,474,831 | 1,697,671 |
Standby Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 559,903 | 637,182 |
Commercial letters-of-credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | $ 11,952 | $ 4,610 |
COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) - USD ($) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Sep. 30, 2015 |
Jun. 30, 2017 |
Dec. 31, 2016 |
Sep. 28, 2015 |
|
Loss Contingencies [Line Items] | |||||
Maturity period of majority of standby letters of credit | P2Y | ||||
Maturity period of Commercial letters of credit | P90D | ||||
Maturity period of forward contracts relating mortgage banking business | 1 year | ||||
Cyberco Litigation | |||||
Loss Contingencies [Line Items] | |||||
Bankruptcy Court recommended judgment amount in Cyberco case, principal | $ 72,000,000 | ||||
Loss contingency period increase (decrease) | $ (42,000,000) | $ 38,000,000 | |||
Standby Letters of Credit | |||||
Loss Contingencies [Line Items] | |||||
Carrying amount of deferred revenue associated with guarantees | 8,000,000 | $ 8,000,000 | $ 8,000,000 | ||
Outstanding standby letters of credit | 559,903,000 | 559,903,000 | 637,182,000 | ||
Commercial letters-of-credit | |||||
Loss Contingencies [Line Items] | |||||
Outstanding standby letters of credit | 11,952,000 | 11,952,000 | 4,610,000 | ||
Commitments to Sell Loans | |||||
Loss Contingencies [Line Items] | |||||
Commitments to sell residential real estate loans | 1,100,000,000 | 1,100,000,000 | $ 819,000,000 | ||
Maximum | |||||
Loss Contingencies [Line Items] | |||||
Aggregate range of reasonably possible losses current legal proceedings | 70,000,000 | 70,000,000 | |||
Minimum | |||||
Loss Contingencies [Line Items] | |||||
Aggregate range of reasonably possible losses current legal proceedings | 0 | $ 0 | |||
Cash [Member] | FirstMerit Overdraft Litigation [Member] | |||||
Loss Contingencies [Line Items] | |||||
Litigation Settlement, Amount | 9,000,000 | ||||
Debt forgiveness [Member] | FirstMerit Overdraft Litigation [Member] | |||||
Loss Contingencies [Line Items] | |||||
Litigation Settlement, Amount | 7,000,000 | ||||
Insurance Settlement [Member] | FirstMerit Overdraft Litigation [Member] | |||||
Loss Contingencies [Line Items] | |||||
Litigation Settlement, Amount | $ 4,400,000 |
SEGMENT REPORTING (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017
USD ($)
reporting_unit
|
Jun. 30, 2016
USD ($)
|
Jun. 30, 2017
USD ($)
segments
business
|
Jun. 30, 2016
USD ($)
|
Dec. 31, 2016
USD ($)
|
|
Segment Reporting Information [Line Items] | |||||
Number of reporting segments | segments | 4 | ||||
Maximum business banking customer's revenue | $ 20,000 | ||||
Number of business banking businesses | business | 254,000 | ||||
Net interest income | $ 744,512 | $ 505,881 | $ 1,474,487 | $ 1,008,947 | |
Provision (reduction in allowance) for credit losses | (24,978) | (24,509) | (92,616) | (52,091) | |
Noninterest income | 325,218 | 271,112 | 637,681 | 512,979 | |
Noninterest expense | 694,364 | 523,661 | 1,401,786 | 1,014,741 | |
Income taxes | 78,647 | 54,283 | 137,931 | 109,240 | |
Net income | 271,741 | 174,540 | 479,835 | 345,854 | |
Assets | 101,406,779 | 101,406,779 | $ 99,714,097 | ||
Deposits | 75,933,373 | 75,933,373 | 75,607,717 | ||
Operating Segments | Consumer & Business Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 420,210 | 284,896 | 828,936 | 562,423 | |
Provision (reduction in allowance) for credit losses | (17,000) | (20,848) | (50,181) | (30,750) | |
Noninterest income | 184,199 | 152,242 | 354,970 | 284,002 | |
Noninterest expense | 412,400 | 310,924 | 824,048 | 616,981 | |
Income taxes | 61,253 | 36,879 | 108,387 | 69,543 | |
Net income | 113,756 | 68,487 | 201,290 | 129,151 | |
Assets | 25,820,232 | 25,820,232 | 25,332,635 | ||
Deposits | $ 45,971,574 | 45,971,574 | 45,355,745 | ||
Operating Segments | Commercial Banking | |||||
Segment Reporting Information [Line Items] | |||||
Number of reporting units | reporting_unit | 6 | ||||
Net interest income | $ 168,814 | 106,971 | 343,285 | 212,240 | |
Provision (reduction in allowance) for credit losses | 10,339 | 5,630 | (11,798) | (29,423) | |
Noninterest income | 59,926 | 51,158 | 117,573 | 95,484 | |
Noninterest expense | 101,184 | 80,842 | 201,382 | 159,050 | |
Income taxes | 48,263 | 29,021 | 86,687 | 41,738 | |
Net income | 89,632 | 53,896 | 160,991 | 77,513 | |
Assets | 24,021,962 | 24,021,962 | 24,121,689 | ||
Deposits | 17,867,356 | 17,867,356 | 18,053,208 | ||
Operating Segments | CREVF | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 140,367 | 95,617 | 279,700 | 191,214 | |
Provision (reduction in allowance) for credit losses | (20,793) | (9,740) | (30,342) | 6,909 | |
Noninterest income | 12,559 | 10,640 | 23,768 | 17,950 | |
Noninterest expense | 55,946 | 41,185 | 108,635 | 80,922 | |
Income taxes | 26,665 | 19,366 | 57,572 | 47,303 | |
Net income | 49,522 | 35,966 | 106,919 | 87,848 | |
Assets | 24,431,788 | 24,431,788 | 23,576,832 | ||
Deposits | 1,943,670 | 1,943,670 | 1,893,072 | ||
Operating Segments | RBPCG | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 48,749 | 35,499 | 95,492 | 70,503 | |
Provision (reduction in allowance) for credit losses | 2,477 | 448 | (295) | 1,173 | |
Noninterest income | 46,385 | 40,097 | 94,395 | 79,403 | |
Noninterest expense | 60,885 | 53,757 | 123,934 | 109,172 | |
Income taxes | 12,854 | 7,801 | 22,980 | 14,667 | |
Net income | 23,872 | 14,486 | 42,678 | 27,240 | |
Assets | 5,570,436 | 5,570,436 | 5,327,622 | ||
Deposits | 5,882,745 | 5,882,745 | 6,214,250 | ||
Treasury / Other | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | (33,628) | (17,102) | (72,926) | (27,433) | |
Provision (reduction in allowance) for credit losses | (1) | 1 | 0 | 0 | |
Noninterest income | 22,149 | 16,975 | 46,975 | 36,140 | |
Noninterest expense | 63,949 | 36,953 | 143,787 | 48,616 | |
Income taxes | (70,388) | (38,784) | (137,695) | (64,011) | |
Net income | (5,041) | $ 1,705 | (32,043) | $ 24,102 | |
Assets | 21,562,361 | 21,562,361 | 21,355,319 | ||
Deposits | $ 4,268,028 | $ 4,268,028 | $ 4,091,442 |
DN2M%R<($J-@
M,M@A\LFD*LE$L*5^*AQK2.+RQ&Q%RH%%(1%0I-]/!$B'+DGH>@Y=4E)89^8_
M[NM=VDMG.GA)9KR>9[RDG&-D1('/22;_#:5J,Z RB_X..Y?
MA:EE:\D9G;_:> $5H@-O97/C9ZCQ+VP.%%0N;._\WHQS-@8.N^D)L?D=Y^]0
M2P,$% @ ;#K_2JZ&;>:U 0 TP, !D !X;"]W;W)K ?YNS6?)F&!?5!@
M[P7V__1XW/08PCR&30Y!DT- X,/&)( Y1F&3)&B2! 3BC4D(0S>JBIO
M_J2BE)>%C_VWB<=B?U#=1+"<'_.]>!+JQ_&AT:-@5-D6E:C;0M9>(W8+_Q[/
M,DRZ $/\+,2EG;Q[G95G*5^ZP=?MPD==1:(4&]5)Y/IQ%BM1EIV2KN/W(.J/
M.;O Z?N;^F=C7IMYSENQDN6O8JL."S_VO:W8Y:=2/P6=C.22AB8"R(H
MGNI\0GLX(3ZX6UA6' NUD(=Q8VXD9'+-)^2'$_ICH!YR+"U6,RL9BMV@L6QB
MAUDAW#&K!*PMKPAW(\$EU)-KPN&(2\5@+3^C0.F9@YN0&P+TE@OK$J.;D%/^
M/_24)P25$XIJ8(7 L51JI[P#RG1WFHMC2D@J)S05%GS3#CILBS/G#-Z%87 D
M_$'M'E?_"?42E'K!RD-@6>),,H?V4-..M#!Z,)<)A]ZY,%/ :%P1_D;"2@>6
MT#7A<*089[#
Y5\-S?CPI8_ 7LYH>V0^F?M8;H7=^S[+/2U;)
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M"4)+$-[(@$
$#YO:M
5@'>I9Q5O1XG5:91?7
M
M^NRUX+<\8]<@-&-.$X:O,/L%P;SZ4H)OE3CQ?^C\;IN?;%I,(C_YPV*R+9!N
M"J11(/UOCUN8]*\B;'6H&DP3Q\F2$H
3F,Y!5KT\XM#EF
?/69R]%LD\R<@E"$^8X8N@"LYT1
MQ*O/)>A:B2/]AT[WZ_QDU6(2^
8!N8":8J"\V<5ZS07#&N8!R/X2$41D0P"W0.:< $MO69*(]R^US3 1_1J4B"%4F@(D+/R[" 7-]UM<)ZI"HZ[QGJNU?#2.E%
MNK$*VJDK>O 9ZFOY860VC,Q[D6YUH A_U::B'Y^AWNH,(K-A9-Z+=*N#=5AS
M(?8J"T5@)=8_(<4::[&N$>,SU'O'!I'2BW1CQ8*L:Q19#TLR0+3)B=9H6)=1
M0=9+E<+BK&O460_+,T#T57