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Loans (Tables)
 9 Months Ended
Sep. 30, 2012
Text Block [Abstract]  
Summary Of Loan Portfolio
The following table shows the Company’s loan portfolio by category as of the dates shown:
 
 
September 30,
 
December 31,
 
September 30,
(Dollars in thousands)
2012
 
2011
 
2011
Balance:
 
 
 
 
 
Commercial
$
2,771,053

 
$
2,498,313

 
$
2,337,098

Commercial real estate
3,699,712

 
3,514,261

 
3,465,321

Home equity
807,592

 
862,345

 
879,180

Residential real estate
376,678

 
350,289

 
326,207

Premium finance receivables—commercial
1,982,945

 
1,412,454

 
1,417,572

Premium finance receivables—life insurance
1,665,620

 
1,695,225

 
1,671,443

Indirect consumer
77,378

 
64,545

 
62,452

Consumer and other
108,922

 
123,945

 
113,438

Total loans, net of unearned income, excluding covered loans
$
11,489,900

 
$
10,521,377

 
$
10,272,711

Covered loans
657,525

 
651,368

 
680,075

Total loans
$
12,147,425

 
$
11,172,745

 
$
10,952,786

Mix:
 
 
 
 
 
Commercial
23
%
 
22
%
 
21
%
Commercial real estate
30

 
31

 
32

Home equity
7

 
8

 
8

Residential real estate
3

 
3

 
3

Premium finance receivables—commercial
16

 
13

 
13

Premium finance receivables—life insurance
14

 
15

 
15

Indirect consumer
1

 
1

 
1

Consumer and other
1

 
1

 
1

Total loans, net of unearned income, excluding covered loans
95
%
 
94
%
 
94
%
Covered loans
5

 
6

 
6

Total loans
100
%
 
100
%
 
100
%
Unpaid Principal Balance And Carrying Value Of Acquired Loans
The following table presents the unpaid principal balance and carrying value for loans acquired with evidence of credit quality deterioration since origination:
 

September 30, 2012
 
December 31, 2011
 
Unpaid
Principal
 
Carrying
 
Unpaid
Principal
 
Carrying
(Dollars in thousands)
Balance
 
Value
 
Balance
 
Value
Bank acquisitions
$
812,285

 
$
607,300

 
$
866,874

 
$
596,946

Life insurance premium finance loans acquisition
561,616

 
537,032

 
632,878

 
598,463
Estimated Details On Loans Acquisition
For loans acquired with evidence of credit quality deterioration since origination as a result of acquisitions during the nine months ended September 30, 2012, the following table provides estimated details on these loans at the date of acquisition:
 
(Dollars in thousands)
Charter National
 
First United Bank
Contractually required payments including interest
$
40,475

 
$
152,937

Less: Nonaccretable difference
11,855

 
79,492

Cash flows expected to be collected (1)
28,620

 
73,445

Less: Accretable yield
2,288

 
6,052

Fair value of loans acquired with evidence of credit quality deterioration since origination
$
26,332

 
$
67,393

 
(1)
Represents undiscounted expected principal and interest cash flows at acquisition.
Activity Related To Accretable Yield Of Loans Acquired With Evidence Of Credit Quality Deterioratio Since Origination
The following table provides activity for the accretable yield of loans acquired with evidence of credit quality deterioration since origination:
 
 
Three Months Ended
September 30, 2012
 
Three Months Ended
September 30, 2011
(Dollars in thousands)
Bank Acquisitions
 
Life Insurance
Premium Finance Loans
 
Bank
Acquisitions
 
Life Insurance
Premium
Finance Loans
Accretable yield, beginning balance
$
171,801

 
$
14,626

 
$
80,748

 
$
24,891

Acquisitions
6,052

 
—

 
24,695

 
—

Accretable yield amortized to interest income
(12,266
)
 
(2,309
)
 
(9,820
)
 
(5,127
)
Accretable yield amortized to indemnification asset (1)
(16,472
)
 
—

 
(4,367
)
 
—

Reclassification from non-accretable difference (2)
4,636

 
2,951

 
2,145

 
—

(Decreases) increases in interest cash flows due to payments and changes in interest rates
(1,951
)
 
158

 
(6,904
)
 
432

Accretable yield, ending balance (3)
$
151,800

 
$
15,426

 
$
86,497

 
$
20,196

 
(1)
Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnification asset.
(2)
Reclassification is the result of subsequent increases in expected principal cash flows.
(3)
As of September 30, 2012, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $74.8 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income.
 
Nine Months Ended
September 30, 2012
 
Nine Months Ended
September 30, 2011
(Dollars in thousands)
Bank Acquisitions
 
Life Insurance
Premium Finance Loans
 
Bank
Acquisitions
 
Life Insurance
Premium
Finance Loans
Accretable yield, beginning balance
$
173,120

 
$
18,861

 
$
39,809

 
$
33,315

Acquisitions
8,340

 
—

 
29,797

 
—

Accretable yield amortized to interest income
(40,545
)
 
(8,795
)
 
(24,869
)
 
(19,301
)
Accretable yield amortized to indemnification asset (1)
(55,912
)
 
—

 
(17,045
)
 
—

Reclassification from non-accretable difference (2)
53,827

 
4,096

 
52,820

 
3,857

Increases in interest cash flows due to payments and changes in interest rates
12,970

 
1,264

 
5,985

 
2,325

Accretable yield, ending balance (3)
$
151,800

 
$
15,426

 
$
86,497

 
$
20,196

 
(1)
Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnification asset.
(2)
Reclassification is the result of subsequent increases in expected principal cash flows.
(3)
As of September 30, 2012, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $74.8 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income.