XML 45 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6
Loans (Tables)
 3 Months Ended
Mar. 31, 2013
Loans and Leases Receivable Disclosure [Abstract]  
Summary Of Loan Portfolio
The following table shows the Company’s loan portfolio by category as of the dates shown:
 
 
March 31,
 
December 31,
 
March 31,
(Dollars in thousands)
2013
 
2012
 
2012
Balance:
 
 
 
 
 
Commercial
$
2,872,695

 
$
2,914,798

 
$
2,544,456

Commercial real-estate
3,990,465

 
3,864,118

 
3,585,760

Home equity
759,218

 
788,474

 
840,364

Residential real-estate
360,652

 
367,213

 
361,327

Premium finance receivables—commercial
1,997,160

 
1,987,856

 
1,512,630

Premium finance receivables—life insurance
1,753,512

 
1,725,166

 
1,693,763

Indirect consumer
69,245

 
77,333

 
67,445

Consumer and other
97,365

 
103,985

 
111,639

Total loans, net of unearned income, excluding covered loans
$
11,900,312

 
$
11,828,943

 
$
10,717,384

Covered loans
518,661

 
560,087

 
691,220

Total loans
$
12,418,973

 
$
12,389,030

 
$
11,408,604

Mix:
 
 
 
 
 
Commercial
23
%
 
24
%
 
22
%
Commercial real-estate
32

 
31

 
32

Home equity
6

 
6

 
7

Residential real-estate
3

 
3

 
3

Premium finance receivables—commercial
16

 
16

 
13

Premium finance receivables—life insurance
14

 
14

 
15

Indirect consumer
1

 
1

 
1

Consumer and other
1

 
1

 
1

Total loans, net of unearned income, excluding covered loans
96
%
 
96
%
 
94
%
Covered loans
4

 
4

 
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 these acquired loans:
 

March 31, 2013
 
December 31, 2012
 
Unpaid
Principal
 
Carrying
 
Unpaid
Principal
 
Carrying
(Dollars in thousands)
Balance
 
Value
 
Balance
 
Value
Bank acquisitions
$
612,702

 
$
462,129

 
$
674,868

 
$
503,837

Life insurance premium finance loans acquisition
519,757

 
499,731

 
536,503

 
514,459
Activity Related To Accretable Yield Of Loans Acquired With Evidence Of Credit Quality Deterioratio Since Origination
Changes in expected cash flows may vary from period to period as the Company periodically updates its cash flow model assumptions for loans acquired with evidence of credit quality deterioration since origination. The factors that most significantly affect the estimates of gross cash flows expected to be collected, and accordingly the accretable yield, include changes in the benchmark interest rate indices for variable-rate products and changes in prepayment assumptions and loss estimates. The following table provides activity for the accretable yield of loans acquired with evidence of credit quality deterioration since origination:
 
 
Three Months Ended
March 31, 2013
 
Three Months Ended
March 31, 2012
(Dollars in thousands)
Bank Acquisitions
 
Life Insurance
Premium Finance Loans
 
Bank
Acquisitions
 
Life Insurance
Premium
Finance Loans
Accretable yield, beginning balance
$
143,224

 
$
13,055

 
$
173,120

 
$
18,861

Acquisitions
(78
)
 
—

 
2,288

 
—

Accretable yield amortized to interest income
(9,577
)
 
(2,019
)
 
(14,892
)
 
(3,737
)
Accretable yield amortized to indemnification asset (1)
(8,706
)
 
—

 
(21,377
)
 
—

Reclassification from non-accretable difference (2)
5,412

 
—

 
41,601

 
—

(Decreases) increases in interest cash flows due to payments and changes in interest rates
(8,550
)
 
182

 
1,482

 
724

Accretable yield, ending balance (3)
$
121,725

 
$
11,218

 
$
182,222

 
$
15,848

 
(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 March 31, 2013, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $42.9 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income.