ALLOWANCE FOR LOAN AND LEASE LOSSES (Tables)

3 Months Ended

Sep. 30, 2014

Changes in Allowance for Loan and Lease Losses

The changes in the allowance for loan and lease losses were as follows:
(In thousands)	Residential Mortgage Loans		Commercial Mortgage Loans		Commercial & Industrial Loans		Construction Loans		Consumer Loans		Total
Quarter ended September 30, 2014
Allowance for loan and lease losses:
Beginning balance	$	29,755	$	48,578	$	76,890	$	21,292	$	64,662	$	241,177
Charge-offs		(5,970)		(2,823)		(17,605)		(7,691)		(19,848)		(53,937)
Recoveries		236		3,939		1,174		4,486		1,360		11,195
Provision (release)		5,885		2,721		3,017		(3,652)		19,028		26,999
Ending balance	$	29,906	$	52,415	$	63,476	$	14,435	$	65,202	$	225,434
Ending balance: specific reserve for impaired loans	$	11,658	$	14,128	$	21,267	$	2,936	$	5,295	$	55,284
Ending balance: purchased credit-impaired loans	$	-	$	-	$	-	$	-	$	-	$	-
Ending balance: general allowance	$	18,248	$	38,287	$	42,209	$	11,499	$	59,907	$	170,150
Loans held for investment:
Ending balance	$	2,819,648	$	1,812,094	$	2,515,384	$	141,689	$	2,026,587	$	9,315,402
Ending balance: impaired loans	$	421,823	$	238,332	$	241,413	$	39,441	$	32,005	$	973,014
Ending balance: purchased credit-impaired loans	$	99,535	$	3,418	$	-	$	-	$	1,360	$	104,313
Ending balance: loans with general allowance	$	2,298,290	$	1,570,344	$	2,273,971	$	102,248	$	1,993,222	$	8,238,075
(In thousands)	Residential Mortgage Loans		Commercial Mortgage Loans		Commercial & Industrial Loans		Construction Loans		Consumer Loans		Total
Nine-Month period ended September 30, 2014
Allowance for loan and lease losses:
Beginning balance	$	33,110	$	73,138	$	85,295	$	35,814	$	58,501	$	285,858
Charge-offs		(17,379)		(22,056)		(59,516)		(11,322)		(56,425)		(166,698)
Recoveries		605		8,271		2,253		5,158		4,329		20,616
Provision (release)		13,570		(6,938)		35,444		(15,215)		58,797		85,658
Ending balance	$	29,906	$	52,415	$	63,476	$	14,435	$	65,202	$	225,434
Ending balance: specific reserve for impaired loans	$	11,658	$	14,128	$	21,267	$	2,936	$	5,295	$	55,284
Ending balance: purchased credit-impaired loans	$	-	$	-	$	-	$	-	$	-	$	-
Ending balance: general allowance	$	18,248	$	38,287	$	42,209	$	11,499	$	59,907	$	170,150
Loans held for investment:
Ending balance	$	2,819,648	$	1,812,094	$	2,515,384	$	141,689	$	2,026,587	$	9,315,402
Ending balance: impaired loans	$	421,823	$	238,332	$	241,413	$	39,441	$	32,005	$	973,014
Ending balance: purchased credit-impaired loans	$	99,535	$	3,418	$	-	$	-	$	1,360	$	104,313
Ending balance: loans with general allowance	$	2,298,290	$	1,570,344	$	2,273,971	$	102,248	$	1,993,222	$	8,238,075

(In thousands)		Residential Mortgage Loans		Commercial Mortgage Loans		Commercial & Industrial Loans		Construction Loans		Consumer Loans		Total
Quarter ended September 30, 2013
Allowance for loan and lease losses:
Beginning balance		$	35,581	$	88,013	$	87,677	$	34,728	$	55,048	$	301,047
Charge-offs			(8,698)		(5,944)		(7,419)		(1,824)		(15,559)		(39,444)
Recoveries			241		26		1,701		1,895		1,718		5,581
Provision (release)			4,663		(59)		1,090		1,304		15,197		22,195
Ending balance		$	31,787	$	82,036	$	83,049	$	36,103	$	56,404	$	289,379
Ending balance: specific reserve for impaired loans		$	17,982	$	28,316	$	34,438	$	21,785	$	3,654	$	106,175
Ending balance: purchased credit-impaired loans		$	-	$	-	$	-	$	-	$	-	$	-
Ending balance: general allowance		$	13,805	$	53,720	$	48,611	$	14,318	$	52,750	$	183,204
Loans held for investment:
Ending balance		$	2,519,457	$	1,857,794	$	2,908,347	$	163,610	$	2,059,426	$	9,508,634
Ending balance: impaired loans		$	397,025	$	205,654	$	200,285	$	73,482	$	28,063	$	904,509
Ending balance: purchased credit-impaired loans		$	-	$	-	$	-	$	-	$	5,963	$	5,963
Ending balance: loans with general allowance		$	2,122,432	$	1,652,140	$	2,708,062	$	90,128	$	2,025,400	$	8,598,162
(In thousands)		Residential Mortgage Loans		Commercial Mortgage Loans		Commercial & Industrial Loans		Construction Loans		Consumer Loans		Total
Nine-Month period ended September 30, 2013
Allowance for loan and lease losses:
Beginning balance		$	68,354	$	97,692	$	146,900	$	61,600	$	60,868	$	435,414
Charge-offs			(25,351)		(25,214)		(54,849)		(30,070)		(46,673)		(182,157)
Charge-offs related to bulk sale			(98,972)		(40,057)		(44,678)		(12,784)		-		(196,491)
Recoveries			868		64		3,460		2,042		5,397		11,831
Provision			86,888		38,860		41,656		16,566		36,812		220,782
Reclassification (1)			-		10,691		(9,440)		(1,251)		-		-
Ending balance		$	31,787	$	82,036	$	83,049	$	36,103	$	56,404	$	289,379
Ending balance: specific reserve for impaired loans		$	17,982	$	28,316	$	34,438	$	21,785	$	3,654	$	106,175
Ending balance: purchased credit-impaired loans		$	-	$	-	$	-	$	-	$	-	$	-
Ending balance: general allowance		$	13,805	$	53,720	$	48,611	$	14,318	$	52,750	$	183,204
Loans held for investment:
Ending balance		$	2,519,457	$	1,857,794	$	2,908,347	$	163,610	$	2,059,426	$	9,508,634
Ending balance: impaired loans		$	397,025	$	205,654	$	200,285	$	73,482	$	28,063	$	904,509
Ending balance: purchased credit-impaired loans		$	-	$	-	$	-	$	-	$	5,963	$	5,963
Ending balance: loans with general allowance		$	2,122,432	$	1,652,140	$	2,708,062	$	90,128	$	2,025,400	$	8,598,162
(1)	During the second quarter of 2013, after a comprehensive review of substantially all of the loans in our commercial portfolios, the classification of certain loans was revised to more accurately depict the nature of the underlying loans. This reclassification resulted in a net increase of $269.0 million in commercial mortgage loans, since the principal source of repayment for such loans is derived primarily from the operation of the underlying real estate, with a corresponding decrease of $246.8 million in commercial and industrial loans and a $22.2 million decrease in construction loans. The Corporation evaluated the impact of this reclassification on the provision for loan losses and determined that the effect of this adjustment was not material to any previously reported results.