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Loans (Tables)
 9 Months Ended
Sep. 30, 2016
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:
 
September 30,
 
December 31,
 
September 30,
(Dollars in thousands)
2016
 
2015
 
2015
Balance:
 
 
 
 
 
Commercial
$
5,951,544

 
$
4,713,909

 
$
4,400,185

Commercial real estate
5,908,684

 
5,529,289

 
5,307,566

Home equity
742,868

 
784,675

 
797,465

Residential real estate
663,598

 
607,451

 
571,743

Premium finance receivables—commercial
2,430,233

 
2,374,921

 
2,407,075

Premium finance receivables—life insurance
3,283,359

 
2,961,496

 
2,700,275

Consumer and other
120,975

 
146,376

 
131,902

Total loans, net of unearned income, excluding covered loans
$
19,101,261

 
$
17,118,117

 
$
16,316,211

Covered loans
95,940

 
148,673

 
168,609

Total loans
$
19,197,201

 
$
17,266,790

 
$
16,484,820

Mix:
 
 
 
 
 
Commercial
31
%
 
27
%
 
27
%
Commercial real estate
31

 
32

 
32

Home equity
4

 
5

 
5

Residential real estate
3

 
3

 
3

Premium finance receivables—commercial
13

 
14

 
15

Premium finance receivables—life insurance
17

 
17

 
16

Consumer and other
1

 
1

 
1

Total loans, net of unearned income, excluding covered loans
100
%
 
99
%
 
99
%
Covered loans
—

 
1

 
1

Total loans
100
%
 
100
%
 
100
%
Schedule of Unpaid Principal Balance and Carrying Value of Acquired Loans
The following table presents the unpaid principal balance and carrying value for these acquired loans:
 
 
September 30, 2016
 
December 31, 2015
 
(Dollars in thousands)
Unpaid
Principal
Balance
 
Carrying
Value
 
Unpaid
Principal
Balance
 
Carrying
Value
 
 
Bank acquisitions
$
278,862

 
$
233,340

 
$
326,470

 
$
271,260

 
Life insurance premium finance loans acquisition
266,618

 
262,887

 
372,738

 
368,292
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period
The following table provides estimated details as of the date of acquisition on loans acquired in 2016 with evidence of credit quality deterioration since origination:
(Dollars in thousands)
Foundations Bank
Contractually required payments including interest
$
20,091

Less: Nonaccretable difference
4,009

   Cash flows expected to be collected (1)  
$
16,082

Less: Accretable yield
1,082

    Fair value of PCI loans acquired
$
15,000


(1) Represents undiscounted expected principal and interest cash 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 PCI loans:

Three months ended
 
Nine Months Ended
(Dollars in thousands)
September 30,
2016

September 30,
2015

September 30,
2016
 
September 30,
2015
Accretable yield, beginning balance
$
55,630

 
$
63,643

 
$
63,902

 
$
79,102

Acquisitions
—

 
10,407

 
1,082

 
11,305

Accretable yield amortized to interest income
(6,449
)
 
(5,939
)
 
(17,105
)
 
(18,359
)
Accretable yield amortized to indemnification asset/liability (1)
(1,744
)
 
(3,280
)
 
(5,539
)
 
(10,945
)
Reclassification from non-accretable difference (2)
5,370

 
2,298

 
12,099

 
5,154

Increases (decreases) in interest cash flows due to payments and changes in interest rates
170

 
(610
)
 
(1,462
)
 
262

Accretable yield, ending balance (3)
$
52,977

 
$
66,519

 
$
52,977

 
$
66,519



(1)
Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnification asset or increase the loss share indemnification liability.
(2)
Reclassification is the result of subsequent increases in expected principal cash flows.
(3)
As of September 30, 2016, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset or liability for the bank acquisitions is $1.5 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income.