ý | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
UTAH | 87-0227400 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
One South Main, 15th Floor Salt Lake City, Utah | 84133 |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer | ý | Accelerated filer | ¨ |
Non-accelerated filer | ¨ | Smaller reporting company | ¨ |
Emerging growth company | ¨ |
Common Stock, without par value, outstanding at April 28, 2017 | 202,629,299 shares |
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Item 2. | ||
Item 3. | ||
Item 4. | ||
Item 1. | ||
Item 1A. | ||
Item 2. | ||
Item 6. | ||
PART I. | FINANCIAL INFORMATION |
ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
• | statements with respect to the beliefs, plans, objectives, goals, targets, commitments, designs, guidelines, expectations, anticipations, and future financial condition, results of operations and performance of Zions Bancorporation (“the Parent”) and its subsidiaries (collectively “the Company,” “Zions,” “we,” “our,” “us”); and |
• | statements preceded by, followed by, or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “target,” “commit,” “design,” “plan,” “projects,” or similar expressions. |
• | the Company’s ability to successfully execute its business plans, manage its risks, and achieve its objectives, including its restructuring and efficiency initiatives; |
• | changes in local, national and international political and economic conditions, including without limitation the political and economic effects of the economic and fiscal imbalances in the United States and other countries, potential or actual downgrades in ratings of sovereign debt issued by the United States and other countries, and other major developments, including wars, military actions, and terrorist attacks; |
• | changes in financial and commodity market prices and conditions, either internationally, nationally or locally in areas in which the Company conducts its operations, including without limitation rates of business formation and growth, commercial and residential real estate development, real estate prices, and oil and gas-related commodity prices; |
• | changes in markets for equity, fixed income, commercial paper and other securities, including availability, market liquidity levels, and pricing, including the actual amount and duration of declines in the price of oil and gas; |
• | any impairment of our goodwill or other intangibles, or any adjustment of valuation allowances on our deferred tax assets due to adverse changes in the economic environment, declining operations of the reporting unit, or a change to the corporate statutory tax rate or other similar changes if and as implemented by local and national governments, or other factors; |
• | changes in interest rates, the quality and composition of the loan and securities portfolios, demand for loan products, deposit flows and competition; |
• | acquisitions and integration of acquired businesses; |
• | increases in the levels of losses, customer bankruptcies, bank failures, claims, and assessments; |
• | changes in fiscal, monetary, regulatory, trade and tax policies and laws, and regulatory assessments and fees, including policies of the U.S. Department of Treasury, the OCC, the Board of Governors of the Federal Reserve Board System, the FDIC, the SEC, and the CFPB; |
• | the impact of executive compensation rules under the Dodd-Frank Act and banking regulations which may impact the ability of the Company and other American financial institutions to retain and recruit executives and other personnel necessary for their businesses and competitiveness; |
• | the impact of the Dodd-Frank Act and Basel III, and rules and regulations thereunder, on our required regulatory capital and liquidity levels, governmental assessments on us (including, but not limited to, the Federal Reserve reviews of our annual capital plan), the scope of business activities in which we may engage, the manner in which we engage in such activities, the fees we may charge for certain products and services, and other matters affected by the Dodd-Frank Act and these international standards; |
• | continuing consolidation in the financial services industry; |
• | new legal claims against the Company, including litigation, arbitration and proceedings brought by governmental or self-regulatory agencies, or changes in existing legal matters; |
• | success in gaining regulatory approvals, when required; |
• | changes in consumer spending and savings habits; |
• | increased competitive challenges and expanding product and pricing pressures among financial institutions; |
• | inflation and deflation; |
• | technological changes and the Company’s implementation of new technologies; |
• | the Company’s ability to develop and maintain secure and reliable information technology systems; |
• | legislation or regulatory changes which adversely affect the Company’s operations or business; |
• | the Company’s ability to comply with applicable laws and regulations; |
• | changes in accounting policies or procedures as may be required by the FASB or regulatory agencies; and |
• | costs of deposit insurance and changes with respect to FDIC insurance coverage levels. |
ASC | Accounting Standards Codification | DTA | Deferred Tax Asset |
ASU | Accounting Standards Update | DFAST | Dodd-Frank Act Stress Test |
AOCI | Accumulated Other Comprehensive Income | Dodd-Frank Act | Dodd-Frank Wall Street Reform and Consumer Protection Act |
ACL | Allowance for Credit Losses | EVE | Economic Value of Equity at Risk |
ALLL | Allowance for Loan and Lease Losses | EITF | Emerging Issues Task Force |
Amegy | Amegy Bank, a division of ZB, N.A. | ERM | Enterprise Risk Management |
ALCO | Asset/Liability Committee | ERMC | Enterprise Risk Management Committee |
AFS | Available-for-Sale | FAMC | Federal Agricultural Mortgage Corporation, or “Farmer Mac” |
BHC | Bank Holding Company | FDIC | Federal Deposit Insurance Corporation |
BOLI | Bank-Owned Life Insurance | FDICIA | Federal Deposit Insurance Corporation Improvement Act |
bps | basis points | FHLB | Federal Home Loan Bank |
CB&T | California Bank & Trust, a division of ZB, N.A. | FRB | Federal Reserve Board |
CMC | Capital Management Committee | FASB | Financial Accounting Standards Board |
CSV | Cash Surrender Value | FTP | Funds Transfer Pricing |
CLTV | Combined Loan-to-Value Ratio | GAAP | Generally Accepted Accounting Principles |
CRE | Commercial Real Estate | GNMA | Government National Mortgage Association, or “Ginnie Mae” |
COSO | Committee of Sponsoring Organizations of the Treadway Commission | HTM | Held-to-Maturity |
CET1 | Common Equity Tier 1 (Basel III) | HQLA | High-Quality Liquid Assets |
CRA | Community Reinvestment Act | HECL | Home Equity Credit Line |
CCAR | Comprehensive Capital Analysis and Review | HCR | Horizontal Capital Review |
CFPB | Consumer Financial Protection Bureau | IFRS | International Financial Reporting Standards |
CSA | Credit Support Annex | LCR | Liquidity Coverage Ratio |
LIBOR | London Interbank Offered Rate | RSU | Restricted Stock Unit |
MD&A | Management’s Discussion and Analysis | ROC | Risk Oversight Committee |
NBAZ | National Bank of Arizona, a division of ZB, N.A. | SEC | Securities and Exchange Commission |
NAV | Net Asset Value | SNC | Shared National Credit |
NIM | Net Interest Margin | SBA | Small Business Administration |
NSFR | Net Stable Funding Ratio | SBIC | Small Business Investment Company |
NSB | Nevada State Bank, a division of ZB, N.A. | S&P | Standard and Poor's |
OCC | Office of the Comptroller of the Currency | TCBO | The Commerce Bank of Oregon, a division of ZB, N.A. |
OCI | Other Comprehensive Income | TCBW | The Commerce Bank of Washington, a division of ZB, N.A. |
OREO | Other Real Estate Owned | TDR | Troubled Debt Restructuring |
OTTI | Other-Than-Temporary Impairment | Vectra | Vectra Bank Colorado, a division of ZB, N.A. |
PPNR | Pre-provision Net Revenue | ZB, N.A. | ZB, National Association |
PEI | Private Equity Investment | Parent | Zions Bancorporation |
PCI | Purchased Credit-Impaired | Zions Bank | Zions Bank, a division of ZB, N.A. |
RULC | Reserve for Unfunded Lending Commitments | ZMSC | Zions Management Services Company |
Three Months Ended | ||||||||||||
(Dollar amounts in millions) | March 31, 2017 | December 31, 2016 | March 31, 2016 | |||||||||
Net earnings applicable to common shareholders (GAAP) | $ | 129 | $ | 125 | $ | 79 | ||||||
Adjustment, net of tax: | ||||||||||||
Amortization of core deposit and other intangibles | 1 | 1 | 1 | |||||||||
Net earnings applicable to common shareholders, excluding the effects of the adjustment, net of tax (non-GAAP) | (a) | $ | 130 | $ | 126 | $ | 80 | |||||
Average common equity (GAAP) | $ | 6,996 | $ | 6,998 | $ | 6,787 | ||||||
Average goodwill | (1,014 | ) | (1,014 | ) | (1,014 | ) | ||||||
Average core deposit and other intangibles | (8 | ) | (10 | ) | (15 | ) | ||||||
Average tangible common equity (non-GAAP) | (b) | $ | 5,974 | $ | 5,974 | $ | 5,758 | |||||
Number of days in quarter | (c) | 90 | 92 | 91 | ||||||||
Number of days in year | (d) | 365 | 366 | 366 | ||||||||
Tangible return on average tangible common equity (non-GAAP) | (a/b/c)*d | 8.83 | % | 8.39 | % | 5.59 | % |
(Dollar amounts in millions) | March 31, 2017 | December 31, 2016 | March 31, 2016 | |||||||||
Total shareholders’ equity (GAAP) | $ | 7,730 | $ | 7,634 | $ | 7,625 | ||||||
Goodwill | (1,014 | ) | (1,014 | ) | (1,014 | ) | ||||||
Core deposit and other intangibles | (7 | ) | (8 | ) | (14 | ) | ||||||
Tangible equity (non-GAAP) | (a) | 6,709 | 6,612 | 6,597 | ||||||||
Preferred stock | (710 | ) | (710 | ) | (828 | ) | ||||||
Tangible common equity (non-GAAP) | (b) | $ | 5,999 | $ | 5,902 | $ | 5,769 | |||||
Total assets (GAAP) | $ | 65,463 | $ | 63,239 | $ | 59,180 | ||||||
Goodwill | (1,014 | ) | (1,014 | ) | (1,014 | ) | ||||||
Core deposit and other intangibles | (7 | ) | (8 | ) | (14 | ) | ||||||
Tangible assets (non-GAAP) | (c) | $ | 64,442 | $ | 62,217 | $ | 58,152 | |||||
Common shares outstanding (thousands) | (d) | 202,595 | 203,085 | 204,544 | ||||||||
Tangible equity ratio (non-GAAP) | (a/c) | 10.41 | % | 10.63 | % | 11.34 | % | |||||
Tangible common equity ratio (non-GAAP) | (b/c) | 9.31 | % | 9.49 | % | 9.92 | % | |||||
Tangible book value per common share (non-GAAP) | (b/d) | $ | 29.61 | $ | 29.06 | $ | 28.20 |
(Dollar amounts in millions) | Three Months Ended | |||||||||||
March 31, 2017 | December 31, 2016 | March 31, 2016 | ||||||||||
Noninterest expense (GAAP) | (a) | $ | 414 | $ | 404 | $ | 396 | |||||
Adjustments: | ||||||||||||
Severance costs | 5 | 1 | 4 | |||||||||
Other real estate expense, net | — | — | (1 | ) | ||||||||
Provision for unfunded lending commitments | (5 | ) | 3 | (6 | ) | |||||||
Amortization of core deposit and other intangibles | 2 | 2 | 2 | |||||||||
Restructuring costs1 | 1 | 3 | 1 | |||||||||
Total adjustments | (b) | 3 | 9 | — | ||||||||
Adjusted noninterest expense (non-GAAP) | (a-b)=(c) | $ | 411 | $ | 395 | $ | 396 | |||||
Net interest income (GAAP) | (d) | $ | 489 | $ | 480 | $ | 453 | |||||
Fully taxable-equivalent adjustments | (e) | 8 | 8 | 5 | ||||||||
Taxable-equivalent net interest income (non-GAAP)1 | (d+e)=f | 497 | 488 | 458 | ||||||||
Noninterest income (GAAP) | g | 132 | 128 | 117 | ||||||||
Combined income | (f+g)=(h) | 629 | 616 | 575 | ||||||||
Adjustments: | ||||||||||||
Fair value and nonhedge derivative income (loss) | — | 7 | (3 | ) | ||||||||
Securities gains (losses), net | 5 | (3 | ) | — | ||||||||
Total adjustments | (i) | 5 | 4 | (3 | ) | |||||||
Adjusted taxable-equivalent revenue (non-GAAP) | (h-i)=(j) | $ | 624 | $ | 612 | $ | 578 | |||||
Pre-provision net revenue (PPNR) | (h)-(a) | $ | 215 | $ | 212 | $ | 179 | |||||
Adjusted PPNR (non-GAAP) | (j-c) | 213 | 217 | 182 | ||||||||
Efficiency ratio (non-GAAP) | (c/j) | 65.9 | % | 64.5 | % | 68.5 | % |
• | Achieve an adjusted efficiency ratio in the low 60s for fiscal year 2017. In 2016 our efficiency ratio was 65.8%, which met our goal to keep the efficiency ratio under 66% for the year. Our adjusted efficiency ratio for the first quarter of 2017 was 65.9%, a 264 bps improvement over the same prior year period efficiency ratio of 68.5%. |
• | Maintain adjusted noninterest expense at less than $1.58 billion in 2016, with a modest increase in 2017. We met our target for fiscal year 2016, keeping adjusted noninterest expense to $1.579 billion. In the first quarter of 2017, adjusted noninterest expense was $411 million, which, when annualized and considering the seasonal expenses in the first quarter of 2017, is consistent with our goal to limit noninterest expense growth to less than 3% in 2017. |
Three Months Ended March 31, 2017 | Three Months Ended March 31, 2016 | ||||||||||||||||||||
(Dollar amounts in millions) | Average balance | Amount of interest 1 | Average yield/rate | Average balance | Amount of interest 1 | Average yield/rate | |||||||||||||||
ASSETS | |||||||||||||||||||||
Money market investments | $ | 1,983 | $ | 5 | 0.93 | % | $ | 5,122 | $ | 7 | 0.55 | % | |||||||||
Securities: | |||||||||||||||||||||
Held-to-maturity | 847 | 8 | 3.90 | 562 | 7 | 4.86 | |||||||||||||||
Available-for-sale | 14,024 | 73 | 2.14 | 8,109 | 43 | 2.11 | |||||||||||||||
Trading account | 61 | 1 | 3.75 | 53 | — | 3.56 | |||||||||||||||
Total securities 2 | 14,932 | 82 | 2.24 | 8,724 | 50 | 2.30 | |||||||||||||||
Loans held for sale | 132 | 1 | 3.22 | 140 | 1 | 3.95 | |||||||||||||||
Loans and leases 3 | |||||||||||||||||||||
Commercial | 21,606 | 225 | 4.22 | 21,624 | 226 | 4.20 | |||||||||||||||
Commercial real estate | 11,241 | 118 | 4.27 | 10,556 | 111 | 4.23 | |||||||||||||||
Consumer | 9,719 | 92 | 3.82 | 8,823 | 85 | 3.90 | |||||||||||||||
Total loans and leases | 42,566 | 435 | 4.14 | 41,003 | 422 | 4.14 | |||||||||||||||
Total interest-earning assets | 59,613 | 523 | 3.56 | 54,989 | 480 | 3.51 | |||||||||||||||
Cash and due from banks | 974 | 728 | |||||||||||||||||||
Allowance for loan losses | (566 | ) | (600 | ) | |||||||||||||||||
Goodwill | 1,014 | 1,014 | |||||||||||||||||||
Core deposit and other intangibles | 8 | 15 | |||||||||||||||||||
Other assets | 2,952 | 2,680 | |||||||||||||||||||
Total assets | $ | 63,995 | $ | 58,826 | |||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||
Interest-bearing deposits: | |||||||||||||||||||||
Savings and money market | $ | 25,896 | $ | 9 | 0.14 | % | $ | 25,350 | $ | 10 | 0.15 | % | |||||||||
Time | 2,856 | 4 | 0.59 | 2,088 | 2 | 0.44 | |||||||||||||||
Foreign | — | — | 235 | — | 0.26 | ||||||||||||||||
Total interest-bearing deposits | 28,752 | 13 | 0.19 | 27,673 | 12 | 0.17 | |||||||||||||||
Borrowed funds: | |||||||||||||||||||||
Federal funds and other short-term borrowings | 2,924 | 5 | 0.71 | 268 | — | 0.18 | |||||||||||||||
Long-term debt | 521 | 8 | 5.92 | 809 | 10 | 5.02 | |||||||||||||||
Total borrowed funds | 3,445 | 13 | 1.50 | 1,077 | 10 | 3.82 | |||||||||||||||
Total interest-bearing liabilities | 32,197 | 26 | 0.33 | 28,750 | 22 | 0.31 | |||||||||||||||
Noninterest-bearing deposits | 23,460 | 21,882 | |||||||||||||||||||
Other liabilities | 632 | 579 | |||||||||||||||||||
Total liabilities | 56,289 | 51,211 | |||||||||||||||||||
Shareholders’ equity: | |||||||||||||||||||||
Preferred equity | 710 | 828 | |||||||||||||||||||
Common equity | 6,996 | 6,787 | |||||||||||||||||||
Total shareholders’ equity | 7,706 | 7,615 | |||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 63,995 | $ | 58,826 | |||||||||||||||||
Spread on average interest-bearing funds | 3.23% | 3.20% | |||||||||||||||||||
Taxable-equivalent net interest income and net yield on interest-earning assets | $ | 497 | 3.38% | $ | 458 | 3.35% |
1 | Taxable-equivalent rates used where applicable. |
2 | Interest on total securities includes $29 million and $19 million of premium amortization, as of March 31, 2017 and March 31, 2016, respectively. |
3 | Net of unearned income and fees, net of related costs. Loans include nonaccrual and restructured loans. |
March 31, 2017 | December 31, 2016 | ||||||||||||||||||||||
(In millions) | Par value | Amortized cost | Estimated fair value | Par value | Amortized cost | Estimated fair value | |||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||
Municipal securities | $ | 815 | $ | 815 | $ | 803 | $ | 868 | $ | 868 | $ | 850 | |||||||||||
815 | 815 | 803 | 868 | 868 | 850 | ||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||
U.S. Government agencies and corporations: | |||||||||||||||||||||||
Agency securities | 1,859 | 1,858 | 1,853 | 1,847 | 1,846 | 1,839 | |||||||||||||||||
Agency guaranteed mortgage-backed securities | 9,819 | 10,060 | 9,961 | 7,745 | 7,986 | 7,883 | |||||||||||||||||
Small Business Administration loan-backed securities | 2,122 | 2,360 | 2,349 | 2,066 | 2,298 | 2,288 | |||||||||||||||||
Municipal securities | 1,151 | 1,299 | 1,285 | 1,048 | 1,182 | 1,154 | |||||||||||||||||
Other debt securities | 25 | 25 | 24 | 25 | 25 | 24 | |||||||||||||||||
14,976 | 15,602 | 15,472 | 12,731 | 13,337 | 13,188 | ||||||||||||||||||
Money market mutual funds and other | 134 | 134 | 134 | 184 | 184 | 184 | |||||||||||||||||
15,110 | 15,736 | 15,606 | 12,915 | 13,521 | 13,372 | ||||||||||||||||||
Total | $ | 15,925 | $ | 16,551 | $ | 16,409 | $ | 13,783 | $ | 14,389 | $ | 14,222 |
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Loans and leases | $ | 811 | $ | 778 | |||
Held-to-maturity – municipal securities | 815 | 868 | |||||
Available-for-sale – municipal securities | 1,285 | 1,154 | |||||
Trading account – municipal securities | 34 | 112 | |||||
Unfunded lending commitments | 192 | 182 | |||||
Total direct exposure to municipalities | $ | 3,137 | $ | 3,094 |
March 31, 2017 | December 31, 2016 | ||||||||||||
(Dollar amounts in millions) | Amount | % of total loans | Amount | % of total loans | |||||||||
Commercial: | |||||||||||||
Commercial and industrial | $ | 13,368 | 31.3 | % | $ | 13,452 | 31.5 | % | |||||
Leasing | 404 | 0.9 | 423 | 1.0 | |||||||||
Owner-occupied | 6,973 | 16.3 | 6,962 | 16.3 | |||||||||
Municipal | 811 | 1.9 | 778 | 1.8 | |||||||||
Total commercial | 21,556 | 50.4 | 21,615 | 50.6 | |||||||||
Commercial real estate: | |||||||||||||
Construction and land development | 2,123 | 5.0 | 2,019 | 4.7 | |||||||||
Term | 9,083 | 21.2 | 9,322 | 21.9 | |||||||||
Total commercial real estate | 11,206 | 26.2 | 11,341 | 26.6 | |||||||||
Consumer: | |||||||||||||
Home equity credit line | 2,638 | 6.2 | 2,645 | 6.2 | |||||||||
1-4 family residential | 6,185 | 14.5 | 5,891 | 13.8 | |||||||||
Construction and other consumer real estate | 517 | 1.2 | 486 | 1.2 | |||||||||
Bankcard and other revolving plans | 459 | 1.1 | 481 | 1.1 | |||||||||
Other | 181 | 0.4 | 190 | 0.5 | |||||||||
Total consumer | 9,980 | 23.4 | 9,693 | 22.8 | |||||||||
Total net loans | $ | 42,742 | 100.0 | % | $ | 42,649 | 100.0 | % |
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Bank-owned life insurance | $ | 499 | $ | 497 | |||
Federal Home Loan Bank stock | 110 | 30 | |||||
Federal Reserve stock | 183 | 181 | |||||
Farmer Mac stock | 38 | 34 | |||||
SBIC investments | 126 | 124 | |||||
Non-SBIC investment funds | 14 | 15 | |||||
Other | 3 | 3 | |||||
$ | 973 | $ | 884 |
(Dollar amounts in millions) | March 31, 2017 | Percent guaranteed | December 31, 2016 | Percent guaranteed | |||||||||
Commercial | $ | 514 | 75 | % | $ | 519 | 75 | % | |||||
Commercial real estate | 17 | 76 | 18 | 75 | |||||||||
Consumer | 17 | 92 | 17 | 92 | |||||||||
Total loans | $ | 548 | 76 | $ | 554 | 76 |
March 31, 2017 | December 31, 2016 | ||||||||||||
(Dollar amounts in millions) | Amount | Percent | Amount | Percent | |||||||||
Real estate, rental and leasing | $ | 2,566 | 11.9 | % | $ | 2,624 | 12.1 | % | |||||
Retail trade 1 | 2,222 | 10.3 | 2,145 | 9.9 | |||||||||
Manufacturing | 2,102 | 9.8 | 2,161 | 10.0 | |||||||||
Finance and insurance | 1,510 | 7.0 | 1,462 | 6.8 | |||||||||
Healthcare and social assistance | 1,498 | 6.9 | 1,538 | 7.1 | |||||||||
Wholesale trade | 1,458 | 6.8 | 1,444 | 6.7 | |||||||||
Mining, quarrying and oil and gas extraction | 1,273 | 5.9 | 1,403 | 6.5 | |||||||||
Transportation and warehousing | 1,272 | 5.9 | 1,300 | 6.0 | |||||||||
Construction | 1,068 | 4.9 | 1,076 | 5.0 | |||||||||
Accommodation and food services | 932 | 4.3 | 925 | 4.3 | |||||||||
Other services (except Public Administration) | 909 | 4.2 | 881 | 4.1 | |||||||||
Professional, scientific and technical services | 902 | 4.2 | 875 | 4.0 | |||||||||
Utilities 2 | 787 | 3.7 | 783 | 3.6 | |||||||||
Other 3 | 3,057 | 14.2 | 2,998 | 13.9 | |||||||||
Total | $ | 21,556 | 100.0 | % | $ | 21,615 | 100.0 | % |
1 | At March 31, 2017, 81% of retail trade consist of auto and other motor vehicle dealers, gas stations, and grocery stores. For additional detail on our commercial real estate retail exposure, see the Commercial Real Estate Loans section on page 24. |
2 | Includes primarily utilities, power, and renewable energy. |
3 | No other industry group exceeds 3.5%. |
(Dollar amounts in millions) | March 31, 2017 | December 31, 2016 | March 31, 2016 | ||||||||
Loans and leases | |||||||||||
Upstream – exploration and production | $ | 685 | $ | 733 | $ | 859 | |||||
Midstream – marketing and transportation | 603 | 598 | 649 | ||||||||
Downstream – refining | 108 | 137 | 129 | ||||||||
Other non-services | 38 | 38 | 43 | ||||||||
Oilfield services | 466 | 500 | 734 | ||||||||
Oil and gas service manufacturing | 161 | 152 | 229 | ||||||||
Total loan and lease balances 2 | 2,061 | 2,158 | 2,643 | ||||||||
Unfunded lending commitments | 1,886 | 1,722 | 2,021 | ||||||||
Total oil and gas credit exposure | $ | 3,947 | $ | 3,880 | $ | 4,664 | |||||
Private equity investments | $ | 6 | $ | 7 | $ | 12 |
Credit quality measures 2 | ||||||||
Criticized loan ratio | 38.0 | % | 37.8 | % | 37.5 | % | ||
Classified loan ratio | 30.4 | % | 31.6 | % | 26.9 | % | ||
Nonaccrual loan ratio | 14.8 | % | 13.6 | % | 10.8 | % | ||
Ratio of nonaccrual loans that are current | 73.1 | % | 86.1 | % | 90.6 | % | ||
Net charge-off ratio, annualized 3 | 2.7 | % | 3.0 | % | 5.4 | % |
1 | Because many borrowers operate in multiple businesses, judgment has been applied in characterizing a borrower as oil and gas-related, including a particular segment of oil and gas-related activity, e.g., upstream or downstream; typically, 50% of revenues coming from the oil and gas sector is used as a guide. |
3 | Calculated as the ratio of annualized net charge-offs, for each respective period, to loan balances at each period end. |
(Dollar amounts in millions) | Collateral Location | ||||||||||||||||||||||||||||||||||||||||
Loan type | As of date | Arizona | California | Colorado | Nevada | Texas | Utah/ Idaho | Wash-ington | Other 1 | Total | % of total CRE | ||||||||||||||||||||||||||||||
Commercial term | |||||||||||||||||||||||||||||||||||||||||
Balance outstanding | 3/31/2017 | $ | 1,195 | $ | 2,986 | $ | 396 | $ | 615 | $ | 1,672 | $ | 1,309 | $ | 343 | $ | 567 | $ | 9,083 | 81.1 | % | ||||||||||||||||||||
% of loan type | 13.2 | % | 32.9 | % | 4.3 | % | 6.8 | % | 18.4 | % | 14.4 | % | 3.8 | % | 6.2 | % | 100.0 | % | |||||||||||||||||||||||
Delinquency rates 2: | |||||||||||||||||||||||||||||||||||||||||
30-89 days | 3/31/2017 | 0.2 | % | 0.1 | % | 0.5 | % | — | % | 0.1 | % | 0.1 | % | 0.2 | % | 0.1 | % | 0.1 | % | ||||||||||||||||||||||
12/31/2016 | 0.1 | % | — | % | — | % | 0.7 | % | — | % | 0.1 | % | 0.2 | % | 0.1 | % | 0.1 | % | |||||||||||||||||||||||
≥ 90 days | 3/31/2017 | 0.3 | % | 0.4 | % | — | % | — | % | 0.1 | % | 0.1 | % | — | % | 0.9 | % | 0.3 | % | ||||||||||||||||||||||
12/31/2016 | 0.2 | % | 0.4 | % | — | % | — | % | — | % | 0.1 | % | — | % | 1.0 | % | 0.2 | % | |||||||||||||||||||||||
Accruing loans past due 90 days or more | 3/31/2017 | $ | — | $ | 11 | $ | — | $ | — | $ | 1 | $ | 2 | $ | — | $ | — | $ | 14 | ||||||||||||||||||||||
12/31/2016 | — | 10 | — | — | — | 2 | — | — | 12 | ||||||||||||||||||||||||||||||||
Nonaccrual loans | 3/31/2017 | $ | 8 | $ | 10 | $ | — | $ | 2 | $ | 9 | $ | 1 | $ | 1 | $ | 7 | $ | 38 | ||||||||||||||||||||||
12/31/2016 | 8 | 11 | — | 2 | 1 | — | 7 | — | 29 | ||||||||||||||||||||||||||||||||
Residential construction and land development | |||||||||||||||||||||||||||||||||||||||||
Balance outstanding | 3/31/2017 | $ | 30 | $ | 353 | $ | 45 | $ | 8 | $ | 254 | $ | 32 | $ | 7 | $ | 1 | $ | 730 | 6.5 | % | ||||||||||||||||||||
% of loan type | 4.1 | % | 48.3 | % | 6.2 | % | 1.1 | % | 34.8 | % | 4.4 | % | 1.0 | % | 0.1 | % | 100.0 | % | |||||||||||||||||||||||
Delinquency rates 2: | |||||||||||||||||||||||||||||||||||||||||
30-89 days | 3/31/2017 | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||||
12/31/2016 | 1.8 | % | — | % | — | % | — | % | 0.3 | % | — | % | — | % | — | % | 0.2 | % | |||||||||||||||||||||||
≥ 90 days | 3/31/2017 | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||||
12/31/2016 | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | |||||||||||||||||||||||
Accruing loans past due 90 days or more | 3/31/2017 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
12/31/2016 | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Nonaccrual loans | 3/31/2017 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
12/31/2016 | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Commercial construction and land development | |||||||||||||||||||||||||||||||||||||||||
Balance outstanding | 3/31/2017 | $ | 107 | $ | 251 | $ | 97 | $ | 94 | $ | 520 | $ | 226 | $ | 41 | $ | 57 | $ | 1,393 | 12.4 | % | ||||||||||||||||||||
% of loan type | 7.7 | % | 18.0 | % | 7.0 | % | 6.8 | % | 37.3 | % | 16.2 | % | 2.9 | % | 4.1 | % | 100.0 | % | |||||||||||||||||||||||
Delinquency rates 2: | |||||||||||||||||||||||||||||||||||||||||
30-89 days | 3/31/2017 | — | % | — | % | — | % | — | % | 0.6 | % | 0.1 | % | — | % | — | % | 0.2 | % | ||||||||||||||||||||||
12/31/2016 | — | % | — | % | — | % | 0.9 | % | — | % | 2.5 | % | — | % | — | % | 0.5 | % | |||||||||||||||||||||||
≥ 90 days | 3/31/2017 | — | % | — | % | — | % | — | % | 0.3 | % | 2.2 | % | — | % | — | % | 0.5 | % | ||||||||||||||||||||||
12/31/2016 | — | % | — | % | — | % | — | % | 0.4 | % | — | % | — | % | — | % | 0.2 | % | |||||||||||||||||||||||
Accruing loans past due 90 days or more | 3/31/2017 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
12/31/2016 | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Nonaccrual loans | 3/31/2017 | $ | — | $ | — | $ | — | $ | — | $ | 2 | $ | 5 | $ | — | $ | — | $ | 7 | ||||||||||||||||||||||
12/31/2016 | — | — | — | — | 2 | 5 | — | — | 7 | ||||||||||||||||||||||||||||||||
Total construction and land development | 3/31/2017 | $ | 137 | $ | 604 | $ | 142 | $ | 102 | $ | 774 | $ | 258 | $ | 48 | $ | 58 | $ | 2,123 | ||||||||||||||||||||||
Total commercial real estate | 3/31/2017 | $ | 1,332 | $ | 3,590 | $ | 538 | $ | 717 | $ | 2,446 | $ | 1,567 | $ | 391 | $ | 625 | $ | 11,206 | 100.0 | % |
1 | No other geography exceeds $91 million for all three loan types. |
2 | Delinquency rates include nonaccrual loans. |
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Secured by first deeds of trust | $ | 1,367 | $ | 1,383 | |||
Secured by second (or junior) liens | 1,271 | 1,262 | |||||
Total | $ | 2,638 | $ | 2,645 |
(Dollar amounts in millions) | March 31, 2017 | December 31, 2016 | |||||
Nonaccrual loans 1 | $ | 585 | $ | 569 | |||
Other real estate owned | 3 | 4 | |||||
Total nonperforming assets | $ | 588 | $ | 573 | |||
Ratio of nonperforming assets to net loans and leases1 and other real estate owned | 1.37 | % | 1.34 | % | |||
Accruing loans past due 90 days or more | $ | 30 | $ | 36 | |||
Ratio of accruing loans past due 90 days or more to loans and leases1 | 0.07 | % | 0.08 | % | |||
Nonaccrual loans and accruing loans past due 90 days or more | $ | 615 | $ | 605 | |||
Ratio of nonaccrual loans and accruing loans past due 90 days or more to loans and leases1 | 1.43 | % | 1.41 | % | |||
Accruing loans past due 30-89 days | $ | 137 | $ | 126 | |||
Nonaccrual loans current as to principal and interest payments | 59.8 | % | 74.1 | % |
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Restructured loans – accruing | $ | 167 | $ | 151 | |||
Restructured loans – nonaccruing | 131 | 100 | |||||
Total | $ | 298 | $ | 251 |
Three Months Ended March 31, | |||||||
(In millions) | 2017 | 2016 | |||||
Balance at beginning of period | $ | 251 | $ | 297 | |||
New identified TDRs and principal increases | 86 | 64 | |||||
Payments and payoffs | (23 | ) | (31 | ) | |||
Charge-offs | (3 | ) | (2 | ) | |||
No longer reported as TDRs | (1 | ) | — | ||||
Sales and other | (12 | ) | — | ||||
Balance at end of period | $ | 298 | $ | 328 |
(Dollar amounts in millions) | Three Months Ended March 31, 2017 | Twelve Months Ended December 31, 2016 | Three Months Ended March 31, 2016 | ||||||||
Loans and leases outstanding (net of unearned income) | $ | 42,742 | $ | 42,649 | $ | 41,418 | |||||
Average loans and leases outstanding (net of unearned income) | $ | 42,566 | $ | 42,062 | $ | 41,003 | |||||
Allowance for loan losses: | |||||||||||
Balance at beginning of period | $ | 567 | $ | 606 | $ | 606 | |||||
Provision charged to earnings | 23 | 93 | 42 | ||||||||
Charge-offs: | |||||||||||
Commercial | (51 | ) | (170 | ) | (43 | ) | |||||
Commercial real estate | (1 | ) | (12 | ) | (1 | ) | |||||
Consumer | (5 | ) | (16 | ) | (4 | ) | |||||
Total | (57 | ) | (198 | ) | (48 | ) | |||||
Recoveries: | |||||||||||
Commercial | 6 | 43 | 7 | ||||||||
Commercial real estate | 2 | 14 | 3 | ||||||||
Consumer | 3 | 9 | 2 | ||||||||
Total | 11 | 66 | 12 | ||||||||
Net loan and lease charge-offs | (46 | ) | (132 | ) | (36 | ) | |||||
Balance at end of period | $ | 544 | $ | 567 | $ | 612 | |||||
Ratio of annualized net charge-offs to average loans and leases | 0.43 | % | 0.31 | % | 0.35 | % | |||||
Ratio of allowance for loan losses to net loans and leases, at period end | 1.27 | % | 1.33 | % | 1.48 | % | |||||
Ratio of allowance for loan losses to nonaccrual loans, at period end | 98.55 | % | 107.18 | % | 112.92 | % | |||||
Ratio of allowance for loan losses to nonaccrual loans and accruing loans past due 90 days or more, at period end | 93.47 | % | 100.35 | % | 105.70 | % |
Parallel change in interest rates | Trigger decline in EVE | Risk capacity decline in EVE | ||||
+/- 200 bps | 8 | % | 10 | % |
March 31, 2017 | ||||||||||||
Fast | Slow | |||||||||||
Product | Effective duration (unchanged) | Effective duration (+200 bps) | Effective duration (unchanged) | Effective duration (+200 bps) | ||||||||
Demand deposits | 1.8 | % | 1.0 | % | 2.6 | % | 2.0 | % | ||||
Money market | 1.3 | % | 1.0 | % | 1.7 | % | 1.5 | % | ||||
Savings and interest-on-checking | 2.3 | % | 1.6 | % | 3.0 | % | 2.5 | % |
March 31, 2017 | |||||||||||||||
Parallel shift in rates (in bps)1 | |||||||||||||||
Repricing scenario | -100 | 0 | +100 | +200 | +300 | ||||||||||
Fast | (4.8 | )% | — | % | 2.1 | % | 2.8 | % | 1.8 | % | |||||
Slow | (7.1 | )% | — | % | 5.5 | % | 10.3 | % | 13.7 | % |
1 | Assumes rates cannot go below zero in the negative rate shift. |
December 31, 2016 | |||||||||||||||
Parallel shift in rates (in bps)1 | |||||||||||||||
Repricing scenario | -100 | 0 | +100 | +200 | +300 | ||||||||||
Fast | (3.9 | )% | — | % | 2.4 | % | 4.1 | % | 3.8 | % | |||||
Slow | (5.7 | )% | — | % | 5.7 | % | 11.5 | % | 15.7 | % |
1 | Assumes rates cannot go below zero in the negative rate shift. |
March 31, 2017 | |||||||||||||||
Repricing scenario | -100 bps | 0 bps | +100 bps | +200 bps | +300 bps | ||||||||||
Fast | 4.1 | % | — | % | (5.3 | )% | (12.3 | )% | (20.2 | )% | |||||
Slow | 0.8 | % | — | % | (1.0 | )% | (3.4 | )% | (6.6 | )% |
1 | Assumes rates cannot go below zero in the negative rate shift. |
December 31, 2016 | |||||||||||||||
Repricing scenario | -100 bps | 0 bps | +100 bps | +200 bps | +300 bps | ||||||||||
Fast | 3.5 | % | — | % | (4.6 | )% | (10.7 | )% | (17.5 | )% | |||||
Slow | 0.2 | % | — | % | (0.4 | )% | (1.9 | )% | (3.7 | )% |
1 | Assumes rates cannot go below zero in the negative rate shift. |
PARENT ONLY CONDENSED BALANCE SHEETS | |||||||||||
(In millions) | March 31, 2017 | December 31, 2016 | March 31, 2016 | ||||||||
ASSETS | |||||||||||
Cash and due from banks | $ | — | $ | 2 | $ | 20 | |||||
Interest-bearing deposits | 439 | 529 | 54 | ||||||||
Security resell agreements | — | — | 750 | ||||||||
Investment securities: | |||||||||||
Available-for-sale, at fair value | 39 | 40 | 45 | ||||||||
Other noninterest-bearing investments | 32 | 29 | 30 | ||||||||
Investments in subsidiaries: | |||||||||||
Commercial bank | 7,586 | 7,570 | 7,462 | ||||||||
Other subsidiaries | 6 | 6 | 80 | ||||||||
Other assets | 73 | 81 | 83 | ||||||||
$ | 8,175 | $ | 8,257 | $ | 8,524 | ||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||
Other liabilities | $ | 63 | $ | 89 | $ | 97 | |||||
Subordinated debt to affiliated trusts | — | — | 165 | ||||||||
Long-term debt: | |||||||||||
Due to others | 382 | 534 | 637 | ||||||||
Total liabilities | 445 | 623 | 899 | ||||||||
Shareholders’ equity: | |||||||||||
Preferred stock | 710 | 710 | 828 | ||||||||
Common stock | 4,696 | 4,725 | 4,778 | ||||||||
Retained earnings | 2,435 | 2,321 | 2,031 | ||||||||
Accumulated other comprehensive income (loss) | (111 | ) | (122 | ) | (12 | ) | |||||
Total shareholders’ equity | 7,730 | 7,634 | 7,625 | ||||||||
$ | 8,175 | $ | 8,257 | $ | 8,524 |
Assumed Zions Bancorporation Common Stock Market Price | Diluted Shares (000s) | ||||
$ | 35.00 | 0 | |||
40.00 | 4,357 | ||||
45.00 | 7,849 | ||||
50.00 | 10,642 | ||||
55.00 | 12,928 |
March 31, 2017 | December 31, 2016 | March 31, 2016 | ||||||
Tangible common equity ratio1 | 9.31 | % | 9.49 | % | 9.92 | % | ||
Tangible equity ratio1 | 10.41 | % | 10.63 | % | 11.34 | % | ||
Average equity to average assets (three months ended) | 12.04 | % | 12.48 | % | 12.94 | % | ||
Basel III risk-based capital ratios2: | ||||||||
Common equity tier 1 capital | 12.22 | % | 12.07 | % | 12.13 | % | ||
Tier 1 leverage | 10.82 | % | 11.09 | % | 11.44 | % | ||
Tier 1 risk-based | 13.64 | % | 13.49 | % | 13.87 | % | ||
Total risk-based | 15.34 | % | 15.24 | % | 15.97 | % | ||
Return on average common equity (three months ended) | 7.48 | % | 7.11 | % | 4.68 | % | ||
Tangible return on average tangible common equity (three months ended)1 | 8.83 | % | 8.39 | % | 5.59 | % |
1 | See “GAAP to Non-GAAP Reconciliations” on page 5 for more information regarding these ratios. |
2 | Based on the applicable phase-in periods. |
ITEM 1. | FINANCIAL STATEMENTS (Unaudited) |
ZIONS BANCORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | |||||||
(In millions, shares in thousands) | March 31, 2017 | December 31, 2016 | |||||
(Unaudited) | |||||||
ASSETS | |||||||
Cash and due from banks | $ | 566 | $ | 737 | |||
Money market investments: | |||||||
Interest-bearing deposits | 1,761 | 1,411 | |||||
Federal funds sold and security resell agreements | 363 | 568 | |||||
Investment securities: | |||||||
Held-to-maturity, at amortized cost (approximate fair value $803 and $850) | 815 | 868 | |||||
Available-for-sale, at fair value | 15,606 | 13,372 | |||||
Trading account, at fair value | 40 | 115 | |||||
16,461 | 14,355 | ||||||
Loans held for sale | 128 | 172 | |||||
Loans and leases, net of unearned income and fees | 42,742 | 42,649 | |||||
Less allowance for loan losses | 544 | 567 | |||||
Loans held for investment, net of allowance | 42,198 | 42,082 | |||||
Other noninterest-bearing investments | 973 | 884 | |||||
Premises, equipment and software, net | 1,047 | 1,020 | |||||
Goodwill | 1,014 | 1,014 | |||||
Core deposit and other intangibles | 7 | 8 | |||||
Other real estate owned | 3 | 4 | |||||
Other assets | 942 | 984 | |||||
$ | 65,463 | $ | 63,239 | ||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
Deposits: | |||||||
Noninterest-bearing demand | $ | 24,410 | $ | 24,115 | |||
Interest-bearing: | |||||||
Savings and money market | 26,071 | 26,364 | |||||
Time | 2,994 | 2,757 | |||||
Foreign | — | — | |||||
53,475 | 53,236 | ||||||
Federal funds and other short-term borrowings | 3,137 | 827 | |||||
Long-term debt | 383 | 535 | |||||
Reserve for unfunded lending commitments | 60 | 65 | |||||
Other liabilities | 678 | 942 | |||||
Total liabilities | 57,733 | 55,605 | |||||
Shareholders’ equity: | |||||||
Preferred stock, without par value, authorized 4,400 shares | 710 | 710 | |||||
Common stock, without par value; authorized 350,000 shares; issued and outstanding 202,595 and 203,085 shares | 4,696 | 4,725 | |||||
Retained earnings | 2,435 | 2,321 | |||||
Accumulated other comprehensive income (loss) | (111 | ) | (122 | ) | |||
Total shareholders’ equity | 7,730 | 7,634 | |||||
$ | 65,463 | $ | 63,239 |
ZIONS BANCORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited) | |||||||
(In millions, except shares and per share amounts) | Three Months Ended March 31, | ||||||
2017 | 2016 | ||||||
Interest income: | |||||||
Interest and fees on loans | $ | 433 | $ | 421 | |||
Interest on money market investments | 4 | 7 | |||||
Interest on securities | 78 | 47 | |||||
Total interest income | 515 | 475 | |||||
Interest expense: | |||||||
Interest on deposits | 13 | 12 | |||||
Interest on short- and long-term borrowings | 13 | 10 | |||||
Total interest expense | 26 | 22 | |||||
Net interest income | 489 | 453 | |||||
Provision for loan losses | 23 | 42 | |||||
Net interest income after provision for loan losses | 466 | 411 | |||||
Noninterest income: | |||||||
Service charges and fees on deposit accounts | 42 | 41 | |||||
Other service charges, commissions and fees | 49 | 49 | |||||
Wealth management income | 10 | 8 | |||||
Loan sales and servicing income | 7 | 8 | |||||
Capital markets and foreign exchange | 7 | 6 | |||||
Customer-related fees | 115 | 112 | |||||
Dividends and other investment income | 12 | 5 | |||||
Securities gains, net | 5 | — | |||||
Other | — | — | |||||
Total noninterest income | 132 | 117 | |||||
Noninterest expense: | |||||||
Salaries and employee benefits | 262 | 258 | |||||
Occupancy, net | 33 | 30 | |||||
Furniture, equipment and software, net | 32 | 32 | |||||
Other real estate expense, net | — | (1 | ) | ||||
Credit-related expense | 8 | 6 | |||||
Provision for unfunded lending commitments | (5 | ) | (6 | ) | |||
Professional and legal services | 14 | 12 | |||||
Advertising | 5 | 6 | |||||
FDIC premiums | 12 | 7 | |||||
Amortization of core deposit and other intangibles | 2 | 2 | |||||
Other | 51 | 50 | |||||
Total noninterest expense | 414 | 396 | |||||
Income before income taxes | 184 | 132 | |||||
Income taxes | 45 | 41 | |||||
Net income | 139 | 91 | |||||
Dividends on preferred stock | (10 | ) | (12 | ) | |||
Net earnings applicable to common shareholders | $ | 129 | $ | 79 | |||
Weighted average common shares outstanding during the period: | |||||||
Basic shares (in thousands) | 202,347 | 203,967 | |||||
Diluted shares (in thousands) | 210,405 | 204,096 | |||||
Net earnings per common share: | |||||||
Basic | $ | 0.63 | $ | 0.38 | |||
Diluted | 0.61 | 0.38 |
ZIONS BANCORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) | |||||||
Three Months Ended March 31, | |||||||
(In millions) | 2017 | 2016 | |||||
Net income for the period | $ | 139 | $ | 91 | |||
Other comprehensive income, net of tax: | |||||||
Net unrealized holding gains on investment securities | 12 | 32 | |||||
Net unrealized gains on other noninterest-bearing investments | 1 | 1 | |||||
Net unrealized holding gains (losses) on derivative instruments | (1 | ) | 13 | ||||
Reclassification adjustment for increase in interest income recognized in earnings on derivative instruments | (1 | ) | (2 | ) | |||
Pension and postretirement | — | (1 | ) | ||||
Other comprehensive income | 11 | 43 | |||||
Comprehensive income | $ | 150 | $ | 134 |
ZIONS BANCORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited) | ||||||||||||||||||||||||
(In millions, except shares and per share amounts) | Preferred stock | Common stock | Retained earnings | Accumulated other comprehensive income (loss) | Total shareholders’ equity | |||||||||||||||||||
Shares (in thousands) | Amount | |||||||||||||||||||||||
Balance at December 31, 2016 | $ | 710 | 203,085 | $ | 4,725 | $ | 2,321 | $ | (122 | ) | $ | 7,634 | ||||||||||||
Net income for the period | 139 | 139 | ||||||||||||||||||||||
Other comprehensive income, net of tax | 11 | 11 | ||||||||||||||||||||||
Company common stock repurchased and retired | (1,060 | ) | (45 | ) | (45 | ) | ||||||||||||||||||
Net activity under employee plans and related tax benefits | 570 | 16 | 16 | |||||||||||||||||||||
Dividends on preferred stock | (10 | ) | (10 | ) | ||||||||||||||||||||
Dividends on common stock, $0.08 per share | (15 | ) | (15 | ) | ||||||||||||||||||||
Change in deferred compensation | — | — | ||||||||||||||||||||||
Balance at March 31, 2017 | $ | 710 | 202,595 | $ | 4,696 | $ | 2,435 | $ | (111 | ) | $ | 7,730 | ||||||||||||
Balance at December 31, 2015 | $ | 828 | 204,417 | $ | 4,767 | $ | 1,967 | $ | (55 | ) | $ | 7,507 | ||||||||||||
Net income for the period | 91 | 91 | ||||||||||||||||||||||
Other comprehensive income, net of tax | 43 | 43 | ||||||||||||||||||||||
Net activity under employee plans and related tax benefits | 127 | 11 | 11 | |||||||||||||||||||||
Dividends on preferred stock | (12 | ) | (12 | ) | ||||||||||||||||||||
Dividends on common stock, $0.06 per share | (13 | ) | (13 | ) | ||||||||||||||||||||
Change in deferred compensation | (2 | ) | (2 | ) | ||||||||||||||||||||
Balance at March 31, 2016 | $ | 828 | 204,544 | $ | 4,778 | $ | 2,031 | $ | (12 | ) | $ | 7,625 |
ZIONS BANCORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | |||||||
(In millions) | Three Months Ended March 31, | ||||||
2017 | 2016 | ||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
Net income for the period | $ | 139 | $ | 91 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Provision for credit losses | 18 | 36 | |||||
Depreciation and amortization | 37 | 25 | |||||
Share-based compensation | 12 | 11 | |||||
Deferred income tax expense (benefit) | 13 | (5 | ) | ||||
Net decrease (increase) in trading securities | 76 | (18 | ) | ||||
Net decrease in loans held for sale | 36 | 39 | |||||
Change in other liabilities | 42 | 18 | |||||
Change in other assets | 21 | 7 | |||||
Other, net | (14 | ) | 3 | ||||
Net cash provided by operating activities | 380 | 207 | |||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
Net decrease (increase) in money market investments | (145 | ) | 2,102 | ||||
Proceeds from maturities and paydowns of investment securities held-to-maturity | 91 | 22 | |||||
Purchases of investment securities held-to-maturity | (7 | ) | (108 | ) | |||
Proceeds from sales, maturities, and paydowns of investment securities available-for-sale | 530 | 2,098 | |||||
Purchases of investment securities available-for-sale | (3,113 | ) | (3,123 | ) | |||
Net change in loans and leases | (117 | ) | (793 | ) | |||
Net change in other noninterest-bearing investments | (74 | ) | (12 | ) | |||
Purchases of premises and equipment | (50 | ) | (40 | ) | |||
Proceeds from sales of other real estate owned | 3 | 4 | |||||
Other, net | 2 | 2 | |||||
Net cash provided by (used in) investing activities | (2,880 | ) | 152 | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
Net increase (decrease) in deposits | 241 | (486 | ) | ||||
Net change in short-term funds borrowed | 2,311 | (115 | ) | ||||
Repayments of long-term debt | (153 | ) | (11 | ) | |||
Proceeds from the issuance of common stock | 9 | 1 | |||||
Dividends paid on common and preferred stock | (29 | ) | (27 | ) | |||
Company common stock repurchased and retired | (50 | ) | (1 | ) | |||
Net cash provided by (used in) financing activities | 2,329 | (639 | ) | ||||
Net decrease in cash and due from banks | (171 | ) | (280 | ) | |||
Cash and due from banks at beginning of period | 737 | 798 | |||||
Cash and due from banks at end of period | $ | 566 | $ | 518 | |||
Cash paid for interest | $ | 22 | $ | 18 | |||
Net refunds received for income taxes | (6 | ) | — | ||||
Noncash activities are summarized as follows: | |||||||
Loans held for investment transferred to other real estate owned | 2 | 6 | |||||
Loans held for investment reclassified to (from) loans held for sale, net | 35 | (2 | ) | ||||
AFS securities purchased, not settled | 56 | — | |||||
HTM securities purchased, not settled | 31 | — |
1. | BASIS OF PRESENTATION |
2. | RECENT ACCOUNTING PRONOUNCEMENTS |
Standard | Description | Date of adoption | Effect on the financial statements or other significant matters | |||
Standards not yet adopted by the Company | ||||||
ASU 2014-09, Revenue from Contracts with Customers (Topic 606) and subsequent related ASUs | The core principle of the new guidance is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The banking industry does not expect significant changes because major sources of revenue are from financial instruments that have been excluded from the scope of the new standard, (including loans, derivatives, debt and equity securities, etc.). However, these new standards affect other fees charged by banks, such as asset management fees, credit card interchange fees, deposit account fees, etc. Adoption may be made on a full retrospective basis with practical expedients, or on a modified retrospective basis with a cumulative effect adjustment. | January 1, 2018 | Approximately 85% of our revenue, including all of our net interest income and a portion of our noninterest income, is out of scope of the guidance. The contracts that are in scope of the guidance are primarily related to service charges and fees on deposit accounts, wealth management income, and other service charges, commissions and fees. We have created an implementation team that is analyzing the individual contracts in scope to determine if our current accounting will change. This review is expected to be completed in the second quarter of 2017. We plan to adopt this guidance using the modified retrospective transition method. | |||
ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities | The standard provides revised accounting guidance related to the accounting for and reporting of financial instruments. Some of the main provisions include: – Equity investments that do not result in consolidation and are not accounted for under the equity method would be measured at fair value through net income – Changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option would be recognized in other comprehensive income (“OCI”). – Elimination of the requirement to disclose the methods and significant assumptions used to estimate the fair value of financial instruments carried at amortized cost. However, it will require the use of exit price when measuring the fair value of financial instruments measured at amortized cost for disclosure purposes. | January 1, 2018 | We do not expect this guidance will have a material impact on the Company’s financial statements. We do not have a significant amount of equity securities classified as available-for-sale (“AFS”). Additionally, we do not have any financial liabilities accounted for under the fair value option. Therefore, the transition adjustment upon adoption of this guidance is not expected to be material. We have formed a working group to evaluate the fair value measurements of financial instruments for disclosure purposes. | |||
ASU 2016-02, Leases (Topic 842) | The standard requires that a lessee recognize assets and liabilities for leases with lease terms of more than 12 months. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, the standard will require both types of leases to be recognized on the balance sheet. It also requires disclosures to better understand the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. | January 1, 2019 | We are currently evaluating the potential impact of this guidance on the Company’s financial statements. As of December 31, 2016, the Company had minimum noncancelable net operating lease payments of $275 million that are being evaluated. The implementation team is working on gathering all key lease data elements to meet the requirements of the new guidance. Additionally, we are implementing new lease software that will accommodate the new accounting requirements. | |||
Standard | Description | Date of adoption | Effect on the financial statements or other significant matters | |||
Standards not yet adopted by the Company (continued) | ||||||
ASU 2017-08, Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities | The amendments in this ASU shorten the amortization period for certain callable debt securities held at a premium. The standard requires the premium to be amortized to the earliest call date. The update does not change the accounting for securities held at a discount. | January 1, 2019 | Our initial analysis suggests this guidance will not have a material impact on the Company’s financial statements, but we will continue to monitor its impact as we move closer to implementation. | |||
ASU 2016-13, Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments | The standard significantly changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard replaces today’s “incurred loss” approach with an “expected loss” model for instruments such as loans and held-to-maturity (“HTM”) securities that are measured at amortized cost. The standard requires credit losses relating to AFS debt securities to be recorded through an allowance for credit losses (“ACL”) rather than a reduction of the carrying amount. It also changes the accounting for purchased credit-impaired debt securities and loans. The standard retains many of the current disclosure requirements in current GAAP and expands certain disclosure requirements. Early adoption of the guidance is permitted as of January 1, 2019. | January 1, 2020 | We have formed an implementation team led jointly by Credit and the Corporate Controller’s group, that also includes other lines of business and functions within the Company. The implementation team is working on developing models that can meet the requirements of the new guidance. While we expect this standard will have a material impact on the Company’s financial statements, we are still in process of conducting our evaluation. | |||
ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment | The standard eliminates the requirement to calculate the implied fair value of goodwill (i.e. Step 2 of the current goodwill impairment test) to measure a goodwill impairment charge. Instead, entities would record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (i.e., measure the charge based on Step 1 of the current guidance). The standard does not change the guidance on completing Step 1 of the goodwill impairment test. The standard also continues to allow entities to perform the optional qualitative goodwill impairment assessment before determining whether to proceed to Step 1. The standard is effective for the Company as of January 1, 2020. Early adoption is allowed for any goodwill impairment test performed after January 1, 2017. | January 1, 2020 | We do not currently expect this guidance will have a material impact on the Company’s financial statements since the fair values of our reporting units were not lower than their respective carrying amounts at the time of our goodwill impairment analysis for 2016. | |||
Standards adopted by the Company | ||||||
ASU 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting | The standard requires entities to recognize the income tax effects of share-based awards in the income statement when the awards vest or are settled (i.e. the additional paid-in capital pools will be eliminated). The standard provides an entity the option to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The standard also requires that excess tax benefits be reflected in the operating section of the statement of cash flows rather than the investing section and to make an election to adopt this requirement either on a retrospective or prospective basis. | January 1, 2017 | Upon adoption of this ASU, there was no material impact from the cumulative effect adjustment to retained earnings. In the first quarter of 2017 the application of the guidance resulted in a net tax benefit of $4 million. We have elected to account for forfeitures when they occur and to reflect excess tax benefits in the operating section of the statement of cash flows on a prospective basis. |
3. | FAIR VALUE |
(In millions) | March 31, 2017 | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
ASSETS | |||||||||||||||
Investment securities: | |||||||||||||||
Available-for-sale: | |||||||||||||||
U.S. Treasury, agencies and corporations | $ | — | $ | 14,163 | $ | — | $ | 14,163 | |||||||
Municipal securities | 1,285 | 1,285 | |||||||||||||
Other debt securities | 24 | 24 | |||||||||||||
Money market mutual funds and other | 133 | 1 | 134 | ||||||||||||
133 | 15,473 | — | 15,606 | ||||||||||||
Trading account | 40 | 40 | |||||||||||||
Other noninterest-bearing investments: | |||||||||||||||
Bank-owned life insurance | 499 | 499 | |||||||||||||
Private equity investments 1 | 15 | 78 | 93 | ||||||||||||
Other assets: | |||||||||||||||
Agriculture loan servicing and interest-only strips | 20 | 20 | |||||||||||||
Deferred compensation plan assets | 95 | 95 | |||||||||||||
Derivatives: | |||||||||||||||
Interest rate swaps and forwards | 2 | 2 | |||||||||||||
Interest rate swaps for customers | 44 | 44 | |||||||||||||
Foreign currency exchange contracts | 9 | 9 | |||||||||||||
9 | 46 | — | 55 | ||||||||||||
$ | 252 | $ | 16,058 | $ | 98 | $ | 16,408 | ||||||||
LIABILITIES | |||||||||||||||
Securities sold, not yet purchased | $ | 133 | $ | — | $ | — | $ | 133 | |||||||
Other liabilities: | |||||||||||||||
Deferred compensation plan obligations | 95 | 95 | |||||||||||||
Derivatives: | |||||||||||||||
Interest rate swaps and forwards | 4 | 4 | |||||||||||||
Interest rate swaps for customers | 45 | 45 | |||||||||||||
Foreign currency exchange contracts | 7 | 7 | |||||||||||||
7 | 49 | — | 56 | ||||||||||||
$ | 235 | $ | 49 | $ | — | $ | 284 |
(In millions) | December 31, 2016 | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
ASSETS | |||||||||||||||
Investment securities: | |||||||||||||||
Available-for-sale: | |||||||||||||||
U.S. Treasury, agencies and corporations | $ | — | $ | 12,009 | $ | — | $ | 12,009 | |||||||
Municipal securities | 1,154 | 1,154 | |||||||||||||
Other debt securities | 24 | 24 | |||||||||||||
Money market mutual funds and other | 184 | 1 | 185 | ||||||||||||
184 | 13,188 | — | 13,372 | ||||||||||||
Trading account | 115 | 115 | |||||||||||||
Other noninterest-bearing investments: | |||||||||||||||
Bank-owned life insurance | 497 | 497 | |||||||||||||
Private equity investments 1 | 18 | 73 | 91 | ||||||||||||
Other assets: | |||||||||||||||
Agriculture loan servicing and interest-only strips | 20 | 20 | |||||||||||||
Deferred compensation plan assets | 91 | 91 | |||||||||||||
Derivatives: | |||||||||||||||
Interest rate swaps and forwards | 4 | 4 | |||||||||||||
Interest rate swaps for customers | 49 | 49 | |||||||||||||
Foreign currency exchange contracts | 11 | 11 | |||||||||||||
11 | 53 | — | 64 | ||||||||||||
$ | 304 | $ | 13,853 | $ | 93 | $ | 14,250 | ||||||||
LIABILITIES | |||||||||||||||
Securities sold, not yet purchased | $ | 25 | $ | — | $ | — | $ | 25 | |||||||
Other liabilities: | |||||||||||||||
Deferred compensation plan obligations | 91 | 91 | |||||||||||||
Derivatives: | |||||||||||||||
Interest rate swaps and forwards | 1 | 1 | |||||||||||||
Interest rate swaps for customers | 49 | 49 | |||||||||||||
Foreign currency exchange contracts | 9 | 9 | |||||||||||||
9 | 50 | — | 59 | ||||||||||||
$ | 125 | $ | 50 | $ | — | $ | 175 |
Level 3 Instruments | |||||||
Three Months Ended March 31, 2017 | |||||||
(In millions) | Private equity investments | Ag loan svcg and int-only strips | |||||
Balance at December 31, 2016 | $ | 73 | $ | 20 | |||
Net gains included in: | |||||||
Statement of income: | |||||||
Securities gains, net | 3 | ||||||
Purchases | 7 | ||||||
Redemptions and paydowns | (5 | ) | |||||
Balance at March 31, 2017 | $ | 78 | $ | 20 |
Level 3 Instruments | |||||||
Three Months Ended March 31, 2016 | |||||||
(In millions) | Private equity investments | Ag loan svcg and int-only strips | |||||
Balance at December 31, 2015 | $ | 58 | $ | 14 | |||
Net gains included in: | |||||||
Statement of income: | |||||||
Securities gains, net | 1 | ||||||
Other noninterest income | 3 | ||||||
Purchases | 2 | ||||||
Balance at March 31, 2016 | $ | 61 | $ | 17 |
(In millions) | Three Months Ended March 31, | |||||||
2017 | 2016 | |||||||
Securities gains, net | $ | 3 | $ | — |
(In millions) | Fair value at March 31, 2017 | Fair value at December 31, 2016 | |||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||
Private equity investments | $ | — | $ | — | $ | 1 | $ | 1 | $ | — | $ | — | $ | 1 | $ | 1 | |||||||||||||||
Impaired loans | — | 1 | — | 1 | — | 52 | — | 52 | |||||||||||||||||||||||
Other real estate owned | — | — | — | — | — | 1 | — | 1 | |||||||||||||||||||||||
$ | — | $ | 1 | $ | 1 | $ | 2 | $ | — | $ | 53 | $ | 1 | $ | 54 |
Gains (losses) from fair value changes | |||||||
(In millions) | Three Months Ended March 31, | ||||||
2017 | 2016 | ||||||
ASSETS | |||||||
Private equity investments | $ | (1 | ) | $ | — | ||
Impaired loans | (1 | ) | (15 | ) | |||
$ | (2 | ) | $ | (15 | ) |
March 31, 2017 | December 31, 2016 | ||||||||||||||||||
(In millions) | Carrying value | Estimated fair value | Level | Carrying value | Estimated fair value | Level | |||||||||||||
Financial assets: | |||||||||||||||||||
HTM investment securities | $ | 815 | $ | 803 | 2 | $ | 868 | $ | 850 | 2 | |||||||||
Loans and leases (including loans held for sale), net of allowance | 42,326 | 42,038 | 3 | 42,254 | 42,111 | 3 | |||||||||||||
Financial liabilities: | |||||||||||||||||||
Time deposits | 2,994 | 2,977 | 2 | 2,757 | 2,744 | 2 | |||||||||||||
Other short-term borrowings | 2,500 | 2,500 | 2 | 500 | 500 | 2 | |||||||||||||
Long-term debt | 383 | 404 | 2 | 535 | 552 | 2 |
4. | OFFSETTING ASSETS AND LIABILITIES |
March 31, 2017 | ||||||||||||||||||||||||
(In millions) | Gross amounts not offset in the balance sheet | |||||||||||||||||||||||
Description | Gross amounts recognized | Gross amounts offset in the balance sheet | Net amounts presented in the balance sheet | Financial instruments | Cash collateral received/pledged | Net amount | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Federal funds sold and security resell agreements | $ | 757 | $ | (394 | ) | $ | 363 | $ | — | $ | — | $ | 363 | |||||||||||
Derivatives (included in other assets) | 55 | — | 55 | (17 | ) | — | 38 | |||||||||||||||||
$ | 812 | $ | (394 | ) | $ | 418 | $ | (17 | ) | $ | — | $ | 401 | |||||||||||
Liabilities: | ||||||||||||||||||||||||
Federal funds and other short-term borrowings | $ | 3,531 | $ | (394 | ) | $ | 3,137 | $ | — | $ | — | $ | 3,137 | |||||||||||
Derivatives (included in other liabilities) | 56 | — | 56 | (17 | ) | (14 | ) | 25 | ||||||||||||||||
$ | 3,587 | $ | (394 | ) | $ | 3,193 | $ | (17 | ) | $ | (14 | ) | $ | 3,162 |
December 31, 2016 | ||||||||||||||||||||||||
(In millions) | Gross amounts not offset in the balance sheet | |||||||||||||||||||||||
Description | Gross amounts recognized | Gross amounts offset in the balance sheet | Net amounts presented in the balance sheet | Financial instruments | Cash collateral received/pledged | Net amount | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Federal funds sold and security resell agreements | $ | 568 | $ | — | $ | 568 | $ | — | $ | — | $ | 568 | ||||||||||||
Derivatives (included in other assets) | 64 | — | 64 | (17 | ) | — | 47 | |||||||||||||||||
$ | 632 | $ | — | $ | 632 | $ | (17 | ) | $ | — | $ | 615 | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Federal funds and other short-term borrowings | $ | 827 | $ | — | $ | 827 | $ | — | $ | — | $ | 827 | ||||||||||||
Derivatives (included in other liabilities) | 59 | — | 59 | (17 | ) | (17 | ) | 25 | ||||||||||||||||
$ | 886 | $ | — | $ | 886 | $ | (17 | ) | $ | (17 | ) | $ | 852 |
5. | INVESTMENTS |
March 31, 2017 | |||||||||||||||
(In millions) | Amortized cost | Gross unrealized gains | Gross unrealized losses | Estimated fair value | |||||||||||
Held-to-maturity | |||||||||||||||
Municipal securities | $ | 815 | $ | 7 | $ | 19 | $ | 803 | |||||||
Available-for-sale | |||||||||||||||
U.S. Government agencies and corporations: | |||||||||||||||
Agency securities | 1,858 | 3 | 8 | 1,853 | |||||||||||
Agency guaranteed mortgage-backed securities | 10,060 | 12 | 111 | 9,961 | |||||||||||
SBA loan-backed securities | 2,360 | 8 | 19 | 2,349 | |||||||||||
Municipal securities | 1,299 | 4 | 18 | 1,285 | |||||||||||
Other debt securities | 25 | — | 1 | 24 | |||||||||||
15,602 | 27 | 157 | 15,472 | ||||||||||||
Money market mutual funds and other | 134 | — | — | 134 | |||||||||||
15,736 | 27 | 157 | 15,606 | ||||||||||||
Total | $ | 16,551 | $ | 34 | $ | 176 | $ | 16,409 |
December 31, 2016 | |||||||||||||||
(In millions) | Amortized cost | Gross unrealized gains | Gross unrealized losses | Estimated fair value | |||||||||||
Held-to-maturity | |||||||||||||||
Municipal securities | $ | 868 | $ | 5 | $ | 23 | $ | 850 | |||||||
Available-for-sale | |||||||||||||||
U.S. Government agencies and corporations: | |||||||||||||||
Agency securities | 1,846 | 2 | 9 | 1,839 | |||||||||||
Agency guaranteed mortgage-backed securities | 7,986 | 7 | 110 | 7,883 | |||||||||||
SBA loan-backed securities | 2,298 | 8 | 18 | 2,288 | |||||||||||
Municipal securities | 1,182 | 1 | 29 | 1,154 | |||||||||||
Other debt securities | 25 | — | 1 | 24 | |||||||||||
13,337 | 18 | 167 | 13,188 | ||||||||||||
Money market mutual funds and other | 184 | — | — | 184 | |||||||||||
13,521 | 18 | 167 | 13,372 | ||||||||||||
Total | $ | 14,389 | $ | 23 | $ | 190 | $ | 14,222 |
March 31, 2017 | |||||||||||||||
Held-to-maturity | Available-for-sale | ||||||||||||||
(In millions) | Amortized cost | Estimated fair value | Amortized cost | Estimated fair value | |||||||||||
Principal return in one year or less | $ | 142 | $ | 142 | $ | 1,884 | $ | 1,868 | |||||||
Principal return after one year through five years | 273 | 274 | 5,875 | 5,828 | |||||||||||
Principal return after five years through ten years | 196 | 196 | 4,904 | 4,860 | |||||||||||
Principal return after ten years | 204 | 191 | 2,939 | 2,916 | |||||||||||
$ | 815 | $ | 803 | $ | 15,602 | $ | 15,472 |
March 31, 2017 | |||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||
(In millions) | Gross unrealized losses | Estimated fair value | Gross unrealized losses | Estimated fair value | Gross unrealized losses | Estimated fair value | |||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||
Municipal securities | $ | 10 | $ | 309 | $ | 9 | $ | 128 | $ | 19 | $ | 437 | |||||||||||
Available-for-sale | |||||||||||||||||||||||
U.S. Government agencies and corporations: | |||||||||||||||||||||||
Agency securities | 7 | 1,297 | 1 | 124 | 8 | 1,421 | |||||||||||||||||
Agency guaranteed mortgage-backed securities | 103 | 7,220 | 8 | 440 | 111 | 7,660 | |||||||||||||||||
Small Business Administration loan-backed securities | 4 | 547 | 15 | 798 | 19 | 1,345 | |||||||||||||||||
Municipal securities | 17 | 811 | 1 | 14 | 18 | 825 | |||||||||||||||||
Other | — | — | 1 | 13 | 1 | 13 | |||||||||||||||||
131 | 9,875 | 26 | 1,389 | 157 | 11,264 | ||||||||||||||||||
Total | $ | 141 | $ | 10,184 | $ | 35 | $ | 1,517 | $ | 176 | $ | 11,701 |
December 31, 2016 | |||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||
(In millions) | Gross unrealized losses | Estimated fair value | Gross unrealized losses | Estimated fair value | Gross unrealized losses | Estimated fair value | |||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||
Municipal securities | $ | 15 | $ | 467 | $ | 8 | $ | 61 | $ | 23 | $ | 528 | |||||||||||
Available-for-sale | |||||||||||||||||||||||
U.S. Government agencies and corporations: | |||||||||||||||||||||||
Agency securities | 9 | 950 | — | 127 | 9 | 1,077 | |||||||||||||||||
Agency guaranteed mortgage-backed securities | 102 | 6,649 | 7 | 326 | 109 | 6,975 | |||||||||||||||||
Small Business Administration loan-backed securities | 3 | 527 | 16 | 841 | 19 | 1,368 | |||||||||||||||||
Municipal securities | 28 | 992 | — | 9 | 28 | 1,001 | |||||||||||||||||
Other | — | — | 2 | 14 | 2 | 14 | |||||||||||||||||
142 | 9,118 | 25 | 1,317 | 167 | 10,435 | ||||||||||||||||||
Total | $ | 157 | $ | 9,585 | $ | 33 | $ | 1,378 | $ | 190 | $ | 10,963 |
Three Months Ended | ||||||||||||||||
March 31, 2017 | March 31, 2016 | |||||||||||||||
(In millions) | Gross gains | Gross losses | Gross gains | Gross losses | ||||||||||||
Investment securities: | ||||||||||||||||
Held-to-maturity | $ | — | $ | — | $ | — | $ | — | ||||||||
Available-for-sale | — | — | — | — | ||||||||||||
Other noninterest-bearing investments | 10 | 5 | 3 | 3 | ||||||||||||
10 | 5 | 3 | 3 | |||||||||||||
Net gains | $ | 5 | $ | — | ||||||||||||
Statement of income information: | ||||||||||||||||
Securities gains, net | $ | 5 | $ | — | ||||||||||||
Net gains | $ | 5 | $ | — |
(In millions) | Three Months Ended March 31, 2017 | Three Months Ended March 31, 2016 | |||||||||||||||||||||
Taxable | Nontaxable | Total | Taxable | Nontaxable | Total | ||||||||||||||||||
Investment securities: | |||||||||||||||||||||||
Held-to-maturity | $ | 3 | $ | 4 | $ | 7 | $ | 2 | $ | 3 | $ | 5 | |||||||||||
Available-for-sale | 66 | 5 | 71 | 40 | 2 | 42 | |||||||||||||||||
$ | 69 | $ | 9 | $ | 78 | $ | 42 | $ | 5 | $ | 47 |
6. | LOANS AND ALLOWANCE FOR CREDIT LOSSES |
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Loans held for sale | $ | 128 | $ | 172 | |||
Commercial: | |||||||
Commercial and industrial | $ | 13,368 | $ | 13,452 | |||
Leasing | 404 | 423 | |||||
Owner-occupied | 6,973 | 6,962 | |||||
Municipal | 811 | 778 | |||||
Total commercial | 21,556 | 21,615 | |||||
Commercial real estate: | |||||||
Construction and land development | 2,123 | 2,019 | |||||
Term | 9,083 | 9,322 | |||||
Total commercial real estate | 11,206 | 11,341 | |||||
Consumer: | |||||||
Home equity credit line | 2,638 | 2,645 | |||||
1-4 family residential | 6,185 | 5,891 | |||||
Construction and other consumer real estate | 517 | 486 | |||||
Bankcard and other revolving plans | 459 | 481 | |||||
Other | 181 | 190 | |||||
Total consumer | 9,980 | 9,693 | |||||
Total loans | $ | 42,742 | $ | 42,649 |
• | Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices |
• | Changes in international, national, regional, and local economic and business conditions |
• | Changes in the nature and volume of the portfolio and in the terms of loans |
• | Changes in the experience, ability, and depth of lending management and other relevant staff |
• | Changes in the volume and severity of past due loans, the volume of nonaccrual loans, and the volume and severity of adversely classified or graded loans |
• | Changes in the quality of the loan review system |
• | Changes in the value of underlying collateral for collateral-dependent loans |
• | The existence and effect of any concentration of credit, and changes in the level of such concentrations |
• | The effect of other external factors such as competition and legal and regulatory requirements |
Changes in the allowance for credit losses are summarized as follows: | |||||||||||||||
Three Months Ended March 31, 2017 | |||||||||||||||
(In millions) | Commercial | Commercial real estate | Consumer | Total | |||||||||||
Allowance for loan losses | |||||||||||||||
Balance at beginning of period | $ | 420 | $ | 116 | $ | 31 | $ | 567 | |||||||
Additions: | |||||||||||||||
Provision for loan losses | 22 | (3 | ) | 4 | 23 | ||||||||||
Deductions: | |||||||||||||||
Gross loan and lease charge-offs | (51 | ) | (1 | ) | (5 | ) | (57 | ) | |||||||
Recoveries | 6 | 2 | 3 | 11 | |||||||||||
Net loan and lease (charge-offs) recoveries | (45 | ) | 1 | (2 | ) | (46 | ) | ||||||||
Balance at end of period | $ | 397 | $ | 114 | $ | 33 | $ | 544 | |||||||
Reserve for unfunded lending commitments | |||||||||||||||
Balance at beginning of period | $ | 54 | $ | 11 | $ | — | $ | 65 | |||||||
Provision credited to earnings | (4 | ) | (1 | ) | — | (5 | ) | ||||||||
Balance at end of period | $ | 50 | $ | 10 | $ | — | $ | 60 | |||||||
Total allowance for credit losses at end of period | |||||||||||||||
Allowance for loan losses | $ | 397 | $ | 114 | $ | 33 | $ | 544 | |||||||
Reserve for unfunded lending commitments | 50 | 10 | — | 60 | |||||||||||
Total allowance for credit losses | $ | 447 | $ | 124 | $ | 33 | $ | 604 |
Three Months Ended March 31, 2016 | |||||||||||||||
(In millions) | Commercial | Commercial real estate | Consumer | Total | |||||||||||
Allowance for loan losses | |||||||||||||||
Balance at beginning of period | $ | 454 | $ | 114 | $ | 38 | $ | 606 | |||||||
Additions: | |||||||||||||||
Provision for loan losses | 46 | 2 | (6 | ) | 42 | ||||||||||
Deductions: | |||||||||||||||
Gross loan and lease charge-offs | (43 | ) | (1 | ) | (4 | ) | (48 | ) | |||||||
Recoveries | 7 | 3 | 2 | 12 | |||||||||||
Net loan and lease (charge-offs) recoveries | (36 | ) | 2 | (2 | ) | (36 | ) | ||||||||
Balance at end of period | $ | 464 | $ | 118 | $ | 30 | $ | 612 | |||||||
Reserve for unfunded lending commitments | |||||||||||||||
Balance at beginning of period | $ | 58 | $ | 17 | $ | — | $ | 75 | |||||||
Provision credited to earnings | (2 | ) | (4 | ) | — | (6 | ) | ||||||||
Balance at end of period | $ | 56 | $ | 13 | $ | — | $ | 69 | |||||||
Total allowance for credit losses at end of period | |||||||||||||||
Allowance for loan losses | $ | 464 | $ | 118 | $ | 30 | $ | 612 | |||||||
Reserve for unfunded lending commitments | 56 | 13 | — | 69 | |||||||||||
Total allowance for credit losses | $ | 520 | $ | 131 | $ | 30 | $ | 681 |
The ALLL and outstanding loan balances according to the Company’s impairment method are summarized as follows: | |||||||||||||||
March 31, 2017 | |||||||||||||||
(In millions) | Commercial | Commercial real estate | Consumer | Total | |||||||||||
Allowance for loan losses: | |||||||||||||||
Individually evaluated for impairment | $ | 43 | $ | 3 | $ | 5 | $ | 51 | |||||||
Collectively evaluated for impairment | 354 | 111 | 27 | 492 | |||||||||||
Purchased loans with evidence of credit deterioration | — | — | 1 | 1 | |||||||||||
Total | $ | 397 | $ | 114 | $ | 33 | $ | 544 | |||||||
Outstanding loan balances: | |||||||||||||||
Individually evaluated for impairment | $ | 490 | $ | 82 | $ | 73 | $ | 645 | |||||||
Collectively evaluated for impairment | 21,033 | 11,093 | 9,900 | 42,026 | |||||||||||
Purchased loans with evidence of credit deterioration | 33 | 31 | 7 | 71 | |||||||||||
Total | $ | 21,556 | $ | 11,206 | $ | 9,980 | $ | 42,742 |
December 31, 2016 | |||||||||||||||
(In millions) | Commercial | Commercial real estate | Consumer | Total | |||||||||||
Allowance for loan losses: | |||||||||||||||
Individually evaluated for impairment | $ | 56 | $ | 3 | $ | 6 | $ | 65 | |||||||
Collectively evaluated for impairment | 364 | 113 | 25 | 502 | |||||||||||
Purchased loans with evidence of credit deterioration | — | — | — | — | |||||||||||
Total | $ | 420 | $ | 116 | $ | 31 | $ | 567 | |||||||
Outstanding loan balances: | |||||||||||||||
Individually evaluated for impairment | $ | 466 | $ | 78 | $ | 75 | $ | 619 | |||||||
Collectively evaluated for impairment | 21,111 | 11,231 | 9,611 | 41,953 | |||||||||||
Purchased loans with evidence of credit deterioration | 38 | 32 | 7 | 77 | |||||||||||
Total | $ | 21,615 | $ | 11,341 | $ | 9,693 | $ | 42,649 |
Nonaccrual loans are summarized as follows: | |||||||
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Loans held for sale | $ | 34 | $ | 40 | |||
Commercial: | |||||||
Commercial and industrial | $ | 358 | $ | 354 | |||
Leasing | 13 | 14 | |||||
Owner-occupied | 89 | 74 | |||||
Municipal | 1 | 1 | |||||
Total commercial | 461 | 443 | |||||
Commercial real estate: | |||||||
Construction and land development | 7 | 7 | |||||
Term | 38 | 29 | |||||
Total commercial real estate | 45 | 36 | |||||
Consumer: | |||||||
Home equity credit line | 9 | 11 | |||||
1-4 family residential | 35 | 36 | |||||
Construction and other consumer real estate | 1 | 2 | |||||
Bankcard and other revolving plans | — | 1 | |||||
Total consumer loans | 45 | 50 | |||||
Total | $ | 551 | $ | 529 |
Past due loans (accruing and nonaccruing) are summarized as follows: | |||||||||||||||||||||||||||
March 31, 2017 | |||||||||||||||||||||||||||
(In millions) | Current | 30-89 days past due | 90+ days past due | Total past due | Total loans | Accruing loans 90+ days past due | Nonaccrual loans that are current 1 | ||||||||||||||||||||
Loans held for sale | $ | 113 | $ | 15 | $ | — | $ | 15 | $ | 128 | $ | — | $ | 19 | |||||||||||||
Commercial: | |||||||||||||||||||||||||||
Commercial and industrial | $ | 13,176 | $ | 94 | $ | 98 | $ | 192 | $ | 13,368 | $ | 9 | $ | 245 | |||||||||||||
Leasing | 401 | 2 | 1 | 3 | 404 | — | 11 | ||||||||||||||||||||
Owner-occupied | 6,880 | 59 | 34 | 93 | 6,973 | 3 | 35 | ||||||||||||||||||||
Municipal | 811 | — | — | — | 811 | — | 1 | ||||||||||||||||||||
Total commercial | 21,268 | 155 | 133 | 288 | 21,556 | 12 | 292 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||
Construction and land development | 2,113 | 3 | 7 | 10 | 2,123 | — | — | ||||||||||||||||||||
Term | 9,047 | 11 | 25 | 36 | 9,083 | 14 | 24 | ||||||||||||||||||||
Total commercial real estate | 11,160 | 14 | 32 | 46 | 11,206 | 14 | 24 | ||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||
Home equity credit line | 2,626 | 7 | 5 | 12 | 2,638 | 2 | 4 | ||||||||||||||||||||
1-4 family residential | 6,156 | 11 | 18 | 29 | 6,185 | — | 11 | ||||||||||||||||||||
Construction and other consumer real estate | 509 | 6 | 2 | 8 | 517 | 1 | — | ||||||||||||||||||||
Bankcard and other revolving plans | 454 | 3 | 2 | 5 | 459 | 1 | — | ||||||||||||||||||||
Other | 180 | 1 | — | 1 | 181 | — | — | ||||||||||||||||||||
Total consumer loans | 9,925 | 28 | 27 | 55 | 9,980 | 4 | 15 | ||||||||||||||||||||
Total | $ | 42,353 | $ | 197 | $ | 192 | $ | 389 | $ | 42,742 | $ | 30 | $ | 331 |
December 31, 2016 | |||||||||||||||||||||||||||
(In millions) | Current | 30-89 days past due | 90+ days past due | Total past due | Total loans | Accruing loans 90+ days past due | Nonaccrual loans that are current 1 | ||||||||||||||||||||
Loans held for sale | $ | 172 | $ | — | $ | — | $ | — | $ | 172 | $ | — | $ | 40 | |||||||||||||
Commercial: | |||||||||||||||||||||||||||
Commercial and industrial | $ | 13,306 | $ | 72 | $ | 74 | $ | 146 | $ | 13,452 | $ | 10 | $ | 287 | |||||||||||||
Leasing | 423 | — | — | — | 423 | — | 14 | ||||||||||||||||||||
Owner-occupied | 6,894 | 40 | 28 | 68 | 6,962 | 8 | 43 | ||||||||||||||||||||
Municipal | 778 | — | — | — | 778 | — | 1 | ||||||||||||||||||||
Total commercial | 21,401 | 112 | 102 | 214 | 21,615 | 18 | 345 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||
Construction and land development | 2,010 | 7 | 2 | 9 | 2,019 | 1 | 1 | ||||||||||||||||||||
Term | 9,291 | 9 | 22 | 31 | 9,322 | 12 | 18 | ||||||||||||||||||||
Total commercial real estate | 11,301 | 16 | 24 | 40 | 11,341 | 13 | 19 | ||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||
Home equity credit line | 2,635 | 4 | 6 | 10 | 2,645 | 1 | 5 | ||||||||||||||||||||
1-4 family residential | 5,857 | 12 | 22 | 34 | 5,891 | — | 11 | ||||||||||||||||||||
Construction and other consumer real estate | 479 | 3 | 4 | 7 | 486 | 3 | — | ||||||||||||||||||||
Bankcard and other revolving plans | 478 | 2 | 1 | 3 | 481 | 1 | 1 | ||||||||||||||||||||
Other | 189 | 1 | — | 1 | 190 | — | — | ||||||||||||||||||||
Total consumer loans | 9,638 | 22 | 33 | 55 | 9,693 | 5 | 17 | ||||||||||||||||||||
Total | $ | 42,340 | $ | 150 | $ | 159 | $ | 309 | $ | 42,649 | $ | 36 | $ | 381 |
1 | Represents nonaccrual loans that are not past due more than 30 days; however, full payment of principal and interest is still not expected. |
March 31, 2017 | |||||||||||||||||||||||
(In millions) | Pass | Special Mention | Sub- standard | Doubtful | Total loans | Total allowance | |||||||||||||||||
Commercial: | |||||||||||||||||||||||
Commercial and industrial | $ | 12,175 | $ | 305 | $ | 887 | $ | 1 | $ | 13,368 | |||||||||||||
Leasing | 376 | 5 | 23 | — | 404 | ||||||||||||||||||
Owner-occupied | 6,573 | 104 | 296 | — | 6,973 | ||||||||||||||||||
Municipal | 805 | — | 6 | — | 811 | ||||||||||||||||||
Total commercial | 19,929 | 414 | 1,212 | 1 | 21,556 | $ | 397 | ||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||
Construction and land development | 2,043 | 23 | 57 | — | 2,123 | ||||||||||||||||||
Term | 8,843 | 111 | 129 | — | 9,083 | ||||||||||||||||||
Total commercial real estate | 10,886 | 134 | 186 | — | 11,206 | 114 | |||||||||||||||||
Consumer: | |||||||||||||||||||||||
Home equity credit line | 2,620 | — | 18 | — | 2,638 | ||||||||||||||||||
1-4 family residential | 6,143 | — | 42 | — | 6,185 | ||||||||||||||||||
Construction and other consumer real estate | 515 | — | 2 | — | 517 | ||||||||||||||||||
Bankcard and other revolving plans | 457 | — | 2 | — | 459 | ||||||||||||||||||
Other | 180 | — | 1 | — | 181 | ||||||||||||||||||
Total consumer loans | 9,915 | — | 65 | — | 9,980 | 33 | |||||||||||||||||
Total | $ | 40,730 | $ | 548 | $ | 1,463 | $ | 1 | $ | 42,742 | $ | 544 |
December 31, 2016 | |||||||||||||||||||||||
(In millions) | Pass | Special Mention | Sub- standard | Doubtful | Total loans | Total allowance | |||||||||||||||||
Commercial: | |||||||||||||||||||||||
Commercial and industrial | $ | 12,185 | $ | 266 | $ | 998 | $ | 3 | $ | 13,452 | |||||||||||||
Leasing | 387 | 5 | 30 | 1 | 423 | ||||||||||||||||||
Owner-occupied | 6,560 | 96 | 306 | — | 6,962 | ||||||||||||||||||
Municipal | 765 | 7 | 6 | — | 778 | ||||||||||||||||||
Total commercial | 19,897 | 374 | 1,340 | 4 | 21,615 | $ | 420 | ||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||
Construction and land development | 1,942 | 52 | 25 | — | 2,019 | ||||||||||||||||||
Term | 9,096 | 82 | 144 | — | 9,322 | ||||||||||||||||||
Total commercial real estate | 11,038 | 134 | 169 | — | 11,341 | 116 | |||||||||||||||||
Consumer: | |||||||||||||||||||||||
Home equity credit line | 2,629 | — | 16 | — | 2,645 | ||||||||||||||||||
1-4 family residential | 5,851 | — | 40 | — | 5,891 | ||||||||||||||||||
Construction and other consumer real estate | 482 | — | 4 | — | 486 | ||||||||||||||||||
Bankcard and other revolving plans | 478 | — | 3 | — | 481 | ||||||||||||||||||
Other | 189 | — | 1 | — | 190 | ||||||||||||||||||
Total consumer loans | 9,629 | — | 64 | — | 9,693 | 31 | |||||||||||||||||
Total | $ | 40,564 | $ | 508 | $ | 1,573 | $ | 4 | $ | 42,649 | $ | 567 |
March 31, 2017 | |||||||||||||||||||
(In millions) | Unpaid principal balance | Recorded investment | Total recorded investment | Related allowance | |||||||||||||||
with no allowance | with allowance | ||||||||||||||||||
Commercial: | |||||||||||||||||||
Commercial and industrial | $ | 460 | $ | 122 | $ | 285 | $ | 407 | $ | 40 | |||||||||
Owner-occupied | 126 | 55 | 57 | 112 | 3 | ||||||||||||||
Municipal | 1 | 1 | — | 1 | — | ||||||||||||||
Total commercial | 587 | 178 | 342 | 520 | 43 | ||||||||||||||
Commercial real estate: | |||||||||||||||||||
Construction and land development | 20 | 2 | 10 | 12 | — | ||||||||||||||
Term | 98 | 52 | 25 | 77 | 2 | ||||||||||||||
Total commercial real estate | 118 | 54 | 35 | 89 | 2 | ||||||||||||||
Consumer: | |||||||||||||||||||
Home equity credit line | 23 | 15 | 6 | 21 | — | ||||||||||||||
1-4 family residential | 57 | 27 | 27 | 54 | 5 | ||||||||||||||
Construction and other consumer real estate | 3 | 2 | 1 | 3 | — | ||||||||||||||
Other | 2 | 1 | — | 1 | — | ||||||||||||||
Total consumer loans | 85 | 45 | 34 | 79 | 5 | ||||||||||||||
Total | $ | 790 | $ | 277 | $ | 411 | $ | 688 | $ | 50 |
December 31, 2016 | |||||||||||||||||||
(In millions) | Unpaid principal balance | Recorded investment | Total recorded investment | Related allowance | |||||||||||||||
with no allowance | with allowance | ||||||||||||||||||
Commercial: | |||||||||||||||||||
Commercial and industrial | $ | 470 | $ | 82 | $ | 311 | $ | 393 | $ | 52 | |||||||||
Owner-occupied | 115 | 71 | 30 | 101 | 3 | ||||||||||||||
Municipal | 1 | 1 | — | 1 | — | ||||||||||||||
Total commercial | 586 | 154 | 341 | 495 | 55 | ||||||||||||||
Commercial real estate: | |||||||||||||||||||
Construction and land development | 22 | 7 | 6 | 13 | — | ||||||||||||||
Term | 92 | 53 | 17 | 70 | 2 | ||||||||||||||
Total commercial real estate | 114 | 60 | 23 | 83 | 2 | ||||||||||||||
Consumer: | |||||||||||||||||||
Home equity credit line | 24 | 16 | 7 | 23 | — | ||||||||||||||
1-4 family residential | 59 | 27 | 28 | 55 | 6 | ||||||||||||||
Construction and other consumer real estate | 3 | 1 | 2 | 3 | — | ||||||||||||||
Other | 2 | 1 | — | 1 | — | ||||||||||||||
Total consumer loans | 88 | 45 | 37 | 82 | 6 | ||||||||||||||
Total | $ | 788 | $ | 259 | $ | 401 | $ | 660 | $ | 63 |
Three Months Ended March 31, 2017 | Three Months Ended March 31, 2016 | ||||||||||||||
(In millions) | Average recorded investment | Interest income recognized | Average recorded investment | Interest income recognized | |||||||||||
Commercial: | |||||||||||||||
Commercial and industrial | $ | 393 | $ | 1 | $ | 282 | $ | 2 | |||||||
Owner-occupied | 101 | 2 | 122 | 2 | |||||||||||
Municipal | 1 | — | 1 | — | |||||||||||
Total commercial | 495 | 3 | 405 | 4 | |||||||||||
Commercial real estate: | |||||||||||||||
Construction and land development | 13 | — | 15 | 1 | |||||||||||
Term | 68 | 2 | 106 | 3 | |||||||||||
Total commercial real estate | 81 | 2 | 121 | 4 | |||||||||||
Consumer: | |||||||||||||||
Home equity credit line | 21 | — | 25 | — | |||||||||||
1-4 family residential | 54 | 1 | 63 | 1 | |||||||||||
Construction and other consumer real estate | 3 | — | 3 | — | |||||||||||
Bankcard and other revolving plans | — | — | — | — | |||||||||||
Other | 1 | — | 2 | — | |||||||||||
Total consumer loans | 79 | 1 | 93 | 1 | |||||||||||
Total | $ | 655 | $ | 6 | $ | 619 | $ | 9 |
March 31, 2017 | |||||||||||||||||||||||||||
Recorded investment resulting from the following modification types: | |||||||||||||||||||||||||||
(In millions) | Interest rate below market | Maturity or term extension | Principal forgiveness | Payment deferral | Other1 | Multiple modification types2 | Total | ||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||
Commercial and industrial | $ | 1 | $ | 29 | $ | — | $ | — | $ | — | $ | 36 | $ | 66 | |||||||||||||
Owner-occupied | 1 | — | 1 | — | 8 | 11 | 21 | ||||||||||||||||||||
Total commercial | 2 | 29 | 1 | — | 8 | 47 | 87 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||
Construction and land development | — | 3 | — | — | — | 2 | 5 | ||||||||||||||||||||
Term | 5 | — | — | 1 | 2 | 10 | 18 | ||||||||||||||||||||
Total commercial real estate | 5 | 3 | — | 1 | 2 | 12 | 23 | ||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||
Home equity credit line | — | 2 | 10 | — | — | 3 | 15 | ||||||||||||||||||||
1-4 family residential | 1 | 1 | 7 | — | 2 | 29 | 40 | ||||||||||||||||||||
Construction and other consumer real estate | — | 1 | — | — | — | 1 | 2 | ||||||||||||||||||||
Total consumer loans | 1 | 4 | 17 | — | 2 | 33 | 57 | ||||||||||||||||||||
Total accruing | 8 | 36 | 18 | 1 | 12 | 92 | 167 | ||||||||||||||||||||
Nonaccruing | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||
Commercial and industrial | 4 | — | 14 | 1 | 53 | 19 | 91 | ||||||||||||||||||||
Owner-occupied | 1 | 2 | — | 1 | 2 | 12 | 18 | ||||||||||||||||||||
Municipal | — | 1 | — | — | — | — | 1 | ||||||||||||||||||||
Total commercial | 5 | 3 | 14 | 2 | 55 | 31 | 110 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||
Construction and land development | — | — | — | — | 2 | — | 2 | ||||||||||||||||||||
Term | 2 | 1 | — | — | 2 | 3 | 8 | ||||||||||||||||||||
Total commercial real estate | 2 | 1 | — | — | 4 | 3 | 10 | ||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||
Home equity credit line | — | — | 1 | — | — | — | 1 | ||||||||||||||||||||
1-4 family residential | — | 1 | 2 | — | 1 | 5 | 9 | ||||||||||||||||||||
Construction and other consumer real estate | — | — | — | 1 | — | — | 1 | ||||||||||||||||||||
Total consumer loans | — | 1 | 3 | 1 | 1 | 5 | 11 | ||||||||||||||||||||
Total nonaccruing | 7 | 5 | 17 | 3 | 60 | 39 | 131 | ||||||||||||||||||||
Total | $ | 15 | $ | 41 | $ | 35 | $ | 4 | $ | 72 | $ | 131 | $ | 298 |
December 31, 2016 | |||||||||||||||||||||||||||
Recorded investment resulting from the following modification types: | |||||||||||||||||||||||||||
(In millions) | Interest rate below market | Maturity or term extension | Principal forgiveness | Payment deferral | Other1 | Multiple modification types2 | Total | ||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||
Commercial and industrial | $ | — | $ | 19 | $ | — | $ | — | $ | — | $ | 28 | $ | 47 | |||||||||||||
Owner-occupied | 3 | — | 1 | — | 8 | 10 | 22 | ||||||||||||||||||||
Total commercial | 3 | 19 | 1 | — | 8 | 38 | 69 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||
Construction and land development | — | 4 | — | — | — | 4 | 8 | ||||||||||||||||||||
Term | 4 | — | — | 1 | 2 | 10 | 17 | ||||||||||||||||||||
Total commercial real estate | 4 | 4 | — | 1 | 2 | 14 | 25 | ||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||
Home equity credit line | — | 1 | 10 | — | — | 3 | 14 | ||||||||||||||||||||
1-4 family residential | 3 | 1 | 6 | — | 2 | 30 | 42 | ||||||||||||||||||||
Construction and other consumer real estate | — | — | — | — | — | 1 | 1 | ||||||||||||||||||||
Total consumer loans | 3 | 2 | 16 | — | 2 | 34 | 57 | ||||||||||||||||||||
Total accruing | 10 | 25 | 17 | 1 | 12 | 86 | 151 | ||||||||||||||||||||
Nonaccruing | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||
Commercial and industrial | 1 | — | — | 1 | 33 | 25 | 60 | ||||||||||||||||||||
Owner-occupied | — | 1 | — | 3 | 1 | 12 | 17 | ||||||||||||||||||||
Municipal | — | 1 | — | — | — | — | 1 | ||||||||||||||||||||
Total commercial | 1 | 2 | — | 4 | 34 | 37 | 78 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||
Construction and land development | — | — | — | — | 2 | — | 2 | ||||||||||||||||||||
Term | 2 | 1 | — | — | 2 | 3 | 8 | ||||||||||||||||||||
Total commercial real estate | 2 | 1 | — | — | 4 | 3 | 10 | ||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||
Home equity credit line | — | — | 1 | — | — | 1 | 2 | ||||||||||||||||||||
1-4 family residential | — | — | 2 | — | 1 | 5 | 8 | ||||||||||||||||||||
Construction and other consumer real estate | — | — | — | 2 | — | — | 2 | ||||||||||||||||||||
Total consumer loans | — | — | 3 | 2 | 1 | 6 | 12 | ||||||||||||||||||||
Total nonaccruing | 3 | 3 | 3 | 6 | 39 | 46 | 100 | ||||||||||||||||||||
Total | $ | 13 | $ | 28 | $ | 20 | $ | 7 | $ | 51 | $ | 132 | $ | 251 |
1 | Includes TDRs that resulted from other modification types including, but not limited to, a legal judgment awarded on different terms, a bankruptcy plan confirmed on different terms, a settlement that includes the delivery of collateral in exchange for debt reduction, etc. |
2 | Includes TDRs that resulted from a combination of any of the previous modification types. |
Three Months Ended March 31, 2017 | Three Months Ended March 31, 2016 | ||||||||||||||||||||||
(In millions) | Accruing | Nonaccruing | Total | Accruing | Nonaccruing | Total | |||||||||||||||||
Commercial: | |||||||||||||||||||||||
Commercial and industrial | $ | — | $ | 14 | $ | 14 | $ | — | $ | 3 | $ | 3 | |||||||||||
Owner-occupied | — | 2 | 2 | 4 | — | 4 | |||||||||||||||||
Total commercial | — | 16 | 16 | 4 | 3 | 7 | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||
Term | — | 2 | 2 | — | — | — | |||||||||||||||||
Total commercial real estate | — | 2 | 2 | — | — | — | |||||||||||||||||
Total | $ | — | $ | 18 | $ | 18 | $ | 4 | $ | 3 | $ | 7 |
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Commercial | $ | 44 | $ | 49 | |||
Commercial real estate | 47 | 51 | |||||
Consumer | 8 | 9 | |||||
Outstanding balance | $ | 99 | $ | 109 | |||
Carrying amount | $ | 70 | $ | 77 | |||
Less ALLL | 1 | 1 | |||||
Carrying amount, net | $ | 69 | $ | 76 |
(In millions) | Three Months Ended March 31, | ||||||
2017 | 2016 | ||||||
Balance at beginning of period | $ | 33 | $ | 40 | |||
Accretion | (4 | ) | (6 | ) | |||
Reclassification from nonaccretable difference | 2 | 8 | |||||
Disposals and other | 1 | 1 | |||||
Balance at end of period | $ | 32 | $ | 43 |
7. | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES |
March 31, 2017 | December 31, 2016 | ||||||||||||||||||||||
Notional amount | Fair value | Notional amount | Fair value | ||||||||||||||||||||
(In millions) | Other assets | Other liabilities | Other assets | Other liabilities | |||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||
Interest rate swaps | $ | 1,388 | $ | 1 | $ | 3 | $ | 1,388 | $ | 2 | $ | 1 | |||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||
Interest rate swaps and forwards | 201 | 1 | 1 | 235 | 2 | — | |||||||||||||||||
Interest rate swaps for customers 1 | 4,106 | 44 | 45 | 4,162 | 49 | 49 | |||||||||||||||||
Foreign exchange | 438 | 9 | 7 | 424 | 11 | 9 | |||||||||||||||||
Total derivatives not designated as hedging instruments | 4,745 | 54 | 53 | 4,821 | 62 | 58 | |||||||||||||||||
Total derivatives | $ | 6,133 | $ | 55 | $ | 56 | $ | 6,209 | $ | 64 | $ | 59 |
Three Months Ended March 31, 2017 | Three Months Ended March 31, 2016 | ||||||||||||||||||||||||||||||
Amount of derivative gain (loss) recognized/reclassified | |||||||||||||||||||||||||||||||
(In millions) | OCI | Reclassified from AOCI to interest income 2 | Noninterest income (expense) | Offset to interest expense | OCI | Reclassified from AOCI to interest income 2 | Noninterest income (expense) | Offset to interest expense | |||||||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||||||||||
Cash flow hedges 1: | |||||||||||||||||||||||||||||||
Interest rate swaps | $ | (2 | ) | $ | 2 | $ | 21 | $ | 3 | ||||||||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||||||
Interest rate swaps and forward contracts | $ | (1 | ) | $ | — | ||||||||||||||||||||||||||
Interest rate swaps for customers | 1 | — | |||||||||||||||||||||||||||||
Foreign exchange | 4 | 2 | |||||||||||||||||||||||||||||
Total derivatives | $ | (2 | ) | $ | 2 | $ | 4 | $ | — | $ | 21 | $ | 3 | $ | 2 | $ | — |
1 | Amounts recognized in OCI and reclassified from AOCI represent the effective portion of the derivative gain (loss). |
2 | Amounts for the three months ended March 31, of $2 million in 2017 and $3 million in 2016, respectively, are the amounts of reclassification to earnings from AOCI presented in Note 8. |
8. | DEBT AND SHAREHOLDERS’ EQUITY |
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Subordinated notes | $ | 247 | $ | 247 | |||
Senior notes | 135 | 287 | |||||
Capital lease obligations | 1 | 1 | |||||
Total | $ | 383 | $ | 535 |
(In millions) | Net unrealized gains (losses) on investment securities | Net unrealized gains (losses) on derivatives and other | Pension and post-retirement | Total | |||||||||||
Three Months Ended March 31, 2017 | |||||||||||||||
Balance at December 31, 2016 | $ | (93 | ) | $ | 2 | $ | (31 | ) | $ | (122 | ) | ||||
OCI before reclassifications, net of tax | 12 | — | — | 12 | |||||||||||
Amounts reclassified from AOCI, net of tax | — | (1 | ) | — | (1 | ) | |||||||||
OCI (loss) | 12 | (1 | ) | — | 11 | ||||||||||
Balance at March 31, 2017 | $ | (81 | ) | $ | 1 | $ | (31 | ) | $ | (111 | ) | ||||
Income tax expense (benefit) included in OCI (loss) | $ | 7 | $ | (1 | ) | $ | — | $ | 6 | ||||||
Three Months Ended March 31, 2016 | |||||||||||||||
Balance at December 31, 2015 | $ | (18 | ) | $ | 1 | $ | (38 | ) | $ | (55 | ) | ||||
OCI before reclassifications, net of tax | 32 | 14 | (1 | ) | 45 | ||||||||||
Amounts reclassified from AOCI, net of tax | — | (2 | ) | — | (2 | ) | |||||||||
OCI (loss) | 32 | 12 | (1 | ) | 43 | ||||||||||
Balance at March 31, 2016 | $ | 14 | $ | 13 | $ | (39 | ) | $ | (12 | ) | |||||
Income tax expense included in OCI (loss) | $ | 20 | $ | 7 | $ | 1 | $ | 28 |
Amounts reclassified from AOCI 1 | Statement of income (SI) Balance sheet (BS) | |||||||||||
(In millions) | Three Months Ended March 31, | |||||||||||
Details about AOCI components | 2017 | 2016 | Affected line item | |||||||||
Net unrealized gains on derivative instruments | $ | 2 | $ | 3 | SI | Interest and fees on loans | ||||||
Income tax expense | 1 | 1 | ||||||||||
Amounts Reclassified from AOCI | $ | 1 | $ | 2 |
1 | Negative reclassification amounts indicate decreases to earnings in the statement of income and increases to balance sheet assets. The opposite applies to positive reclassification amounts. |
9. | COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES |
(In millions) | March 31, 2017 | December 31, 2016 | |||||
Net unfunded commitments to extend credit 1 | $ | 18,467 | $ | 18,274 | |||
Standby letters of credit: | |||||||
Financial | 701 | 771 | |||||
Performance | 191 | 196 | |||||
Commercial letters of credit | 77 | 60 | |||||
Total unfunded lending commitments | $ | 19,436 | $ | 19,301 |
1 | Net of participations |
• | a governmental inquiry conducted by the Department of Justice into our payment processing practices relating to certain telemarketing customers alleged to have engaged in fraudulent marketing practices. The factual |
• | a civil suit, Shou-En Wang v. CB&T, brought against us in the Superior Court for Los Angeles County, Central District in April 2016. The case relates to our depositor relationships with customers who were promoters of an investment program that allegedly misappropriated investors’ funds. This case is in an early phase, with initial motion practice having been completed. |
• | a civil suit, McFarland as Trustee for International Manufacturing Group v. CB&T, et. al., brought against us in the United States Bankruptcy Court for the Eastern District of California in May 2016. The Trustee seeks to recover loan payments previously repaid by borrower International Manufacturing Group, alleging that International Manufacturing Group, along with its principal, obtained loans and made loan repayments in furtherance of an alleged Ponzi scheme. This case is in an early phase with initial motion practice having been completed. |
10. | RETIREMENT PLANS |
Pension and Other Retirement Plans | |||||||
(In millions) | Three Months Ended March 31, | ||||||
2017 | 2016 | ||||||
Interest cost | $ | 2 | $ | 2 | |||
Expected return on plan assets | (3 | ) | (3 | ) | |||
Partial settlement loss | 1 | — | |||||
Amortization of net actuarial gain | 1 | 2 | |||||
Net periodic benefit cost | $ | 1 | $ | 1 |
11. | INCOME TAXES |
12. | OPERATING SEGMENT INFORMATION |
(In millions) | Zions Bank | Amegy | CB&T | NBAZ | NSB | ||||||||||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||||||||||||||||||
SELECTED INCOME STATEMENT DATA | |||||||||||||||||||||||||||||||||||||||
Net interest income | $ | 155 | $ | 150 | $ | 114 | $ | 113 | $ | 110 | $ | 103 | $ | 50 | $ | 45 | $ | 32 | $ | 30 | |||||||||||||||||||
Provision for loan losses | 35 | (31 | ) | 1 | 104 | (5 | ) | (3 | ) | 1 | 2 | (4 | ) | (26 | ) | ||||||||||||||||||||||||
Net interest income after provision for loan losses | 120 | 181 | 113 | 9 | 115 | 106 | 49 | 43 | 36 | 56 | |||||||||||||||||||||||||||||
Noninterest income | 35 | 36 | 29 | 29 | 17 | 16 | 9 | 10 | 10 | 9 | |||||||||||||||||||||||||||||
Noninterest expense | 113 | 105 | 85 | 86 | 75 | 72 | 37 | 35 | 35 | 33 | |||||||||||||||||||||||||||||
Net Income (loss) before taxes | $ | 42 | $ | 112 | $ | 57 | $ | (48 | ) | $ | 57 | $ | 50 | $ | 21 | $ | 18 | $ | 11 | $ | 32 | ||||||||||||||||||
SELECTED AVERAGE BALANCE SHEET DATA | |||||||||||||||||||||||||||||||||||||||
Total loans | $ | 12,488 | $ | 12,306 | $ | 10,637 | $ | 10,370 | $ | 9,306 | $ | 8,905 | $ | 4,262 | $ | 3,863 | $ | 2,338 | $ | 2,263 | |||||||||||||||||||
Total deposits | 16,268 | 15,700 | 11,318 | 11,274 | 10,921 | 10,479 | 4,661 | 4,445 | 4,211 | 4,011 | |||||||||||||||||||||||||||||
(In millions) | Vectra | TCBW | Other | Consolidated Company | |||||||||||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||||||||||||||||||||
SELECTED INCOME STATEMENT DATA | |||||||||||||||||||||||||||||||||||||||
Net interest income | $ | 30 | $ | 30 | $ | 11 | $ | 9 | $ | (13 | ) | $ | (27 | ) | $ | 489 | $ | 453 | |||||||||||||||||||||
Provision for loan losses | (3 | ) | (3 | ) | (1 | ) | (2 | ) | (1 | ) | 1 | 23 | 42 | ||||||||||||||||||||||||||
Net interest income after provision for loan losses | 33 | 33 | 12 | 11 | (12 | ) | (28 | ) | 466 | 411 | |||||||||||||||||||||||||||||
Noninterest income | 6 | 6 | 1 | 1 | 25 | 10 | 132 | 117 | |||||||||||||||||||||||||||||||
Noninterest expense | 25 | 23 | 5 | 5 | 39 | 37 | 414 | 396 | |||||||||||||||||||||||||||||||
Net Income (loss) before taxes | $ | 14 | $ | 16 | $ | 8 | $ | 7 | $ | (26 | ) | $ | (55 | ) | $ | 184 | $ | 132 | |||||||||||||||||||||
SELECTED AVERAGE BALANCE SHEET DATA | |||||||||||||||||||||||||||||||||||||||
Total loans | $ | 2,535 | $ | 2,453 | $ | 877 | $ | 733 | $ | 123 | $ | 110 | $ | 42,566 | $ | 41,003 | |||||||||||||||||||||||
Total deposits | 2,791 | 2,783 | 1,100 | 953 | 942 | (90 | ) | 52,212 | 49,555 |
ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
ITEM 4. | CONTROLS AND PROCEDURES |
PART II. | OTHER INFORMATION |
ITEM 1. | LEGAL PROCEEDINGS |
ITEM 1A. | RISK FACTORS |
ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS |
Period | Total number of shares repurchased 1 | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs | Approximate dollar value of shares that may yet be purchased under the plan | ||||||||||||||||
January | 387,356 | $ | 42.16 | 364,287 | $ | 74,668,601 | ||||||||||||||
February | 786,803 | 42.78 | 696,195 | 45,003,893 | ||||||||||||||||
March | 1,830 | 44.20 | — | 45,003,893 | ||||||||||||||||
First quarter | 1,175,989 | 42.57 | 1,060,482 |
1 | Represents common shares acquired from employees in connection with our stock compensation plan. Shares were acquired from employees to pay for their payroll taxes and stock option exercise cost upon the vesting of restricted stock units and the exercise of stock options, under provisions of an employee share-based compensation plan. |
ITEM 6. | EXHIBITS |
Exhibit Number | Description | ||
3.1 | Restated Articles of Incorporation of Zions Bancorporation dated July 8, 2014, incorporated by reference to Exhibit 3.1 of Form 8-K/A filed on July 18, 2014. | * | |
3.2 | Restated Bylaws of Zions Bancorporation dated February 27, 2015, incorporated by reference to Exhibit 3.2 of Form 10-Q for the quarter ended March 31, 2015. | * | |
31.1 | Certification by Chief Executive Officer required by Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934 (filed herewith). | ||
31.2 | Certification by Chief Financial Officer required by Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934 (filed herewith). | ||
32 | Certification by Chief Executive Officer and Chief Financial Officer required by Sections 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 (15 U.S.C. 78m) and 18 U.S.C. Section 1350 (furnished herewith). | ||
101 | Interactive data files pursuant to Rule 405 of Regulation S-T: (i) the Consolidated Balance Sheets as of March 31, 2017 and December 31, 2016, (ii) the Consolidated Statements of Income for the three months ended March 31, 2017 and March 31, 2016, (iii) the Consolidated Statements of Comprehensive Income for the three months ended March 31, 2017 and March 31, 2016, (iv) the Consolidated Statements of Changes in Shareholders’ Equity for the three months ended March 31, 2017 and March 31, 2016, (v) the Consolidated Statements of Cash Flows for the three months ended March 31, 2017 and March 31, 2016 and (vi) the Notes to Consolidated Financial Statements (filed herewith). |
ZIONS BANCORPORATION |
/s/ Harris H. Simmons |
Harris H. Simmons, Chairman and Chief Executive Officer |
/s/ Paul E. Burdiss |
Paul E. Burdiss, Executive Vice President and Chief Financial Officer |
1. | I have reviewed this quarterly report on Form 10-Q of Zions Bancorporation; |
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. |
/s/ Harris H. Simmons | |
Harris H. Simmons, Chairman and Chief Executive Officer |
1. | I have reviewed this quarterly report on Form 10-Q of Zions Bancorporation; |
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. |
/s/ Paul E. Burdiss | |
Paul E. Burdiss, Executive Vice President and Chief Financial Officer |
/s/ Harris H. Simmons | ||
Name: | Harris H. Simmons | |
Title: | Chairman and Chief Executive Officer | |
/s/ Paul E. Burdiss | ||
Name: | Paul E. Burdiss | |
Title: | Executive Vice President and Chief Financial Officer |
Document And Entity Information - shares |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Apr. 28, 2017 |
|
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2017 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | zion | |
Entity Registrant Name | ZIONS BANCORPORATION /UT/ | |
Entity Central Index Key | 0000109380 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 202,629,299 |
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions |
Mar. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Held-to-maturity, fair value | $ 803 | $ 850 |
Preferred stock, authorized shares | 4,400,000 | 4,400,000 |
Common stock, authorized shares | 350,000,000 | 350,000,000 |
Common stock, issued shares | 202,595,000 | 203,085,000 |
Common stock, outstanding shares | 202,595,000 | 203,085,000 |
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
Net income for the period | $ 139 | $ 91 |
Other comprehensive income, net of tax: | ||
Unrealized holding gains on investment securities | 12 | 32 |
Net unrealized gains on other noninterest-bearing investments | 1 | 1 |
Net unrealized holding gains (losses) on derivative instruments | (1) | 13 |
Reclassification adjustment for increase in interest income recognized in earnings on derivatives instruments | (1) | (2) |
Pension and Postretirement | 0 | (1) |
Other comprehensive income | 11 | 43 |
Comprehensive income | $ 150 | $ 134 |
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
Dividends on common stock, per share | $ 0.08 | $ 0.06 |
Basis of Presentaion |
3 Months Ended |
---|---|
Mar. 31, 2017 | |
Basis Of Presentation [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Zions Bancorporation (“the Parent”) and its majority-owned subsidiaries (collectively “the Company,” “Zions,” “we,” “our,” “us”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. References to GAAP, including standards promulgated by the Financial Accounting Standards Board (“FASB”), are made according to sections of the Accounting Standards Codification (“ASC”). Changes to the ASC are made with Accounting Standards Updates (“ASU”) that include consensus issues of the Emerging Issues Task Force (“EITF”). In certain cases, ASUs are issued jointly with International Financial Reporting Standards (“IFRS”). Operating results for the three months ended March 31, 2017 and 2016 are not necessarily indicative of the results that may be expected in future periods. In preparing the consolidated financial statements, we are required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The consolidated balance sheet at December 31, 2016 is from the audited financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s 2016 Annual Report on Form 10-K. Certain prior period amounts have been reclassified to conform with the current period presentation. These reclassifications did not affect net income or shareholders’ equity. Zions Bancorporation (“the Parent”) is a financial holding company headquartered in Salt Lake City, Utah, which owns and operates a commercial bank. The Parent and its subsidiaries (collectively “the Company”) provide a full range of banking and related services in 11 Western and Southwestern states through seven separately managed and branded units as follows: Zions Bank, in Utah, Idaho and Wyoming; California Bank & Trust (“CB&T”); Amegy Bank (“Amegy”), in Texas; National Bank of Arizona (“NBAZ”); Nevada State Bank (“NSB”); Vectra Bank Colorado (“Vectra”), in Colorado and New Mexico; and The Commerce Bank of Washington (“TCBW”) which operates under that name in Washington and under the name The Commerce Bank of Oregon (“TCBO”) in Oregon. The Parent also owns and operates certain nonbank subsidiaries that engage in financial services. |
Certain Recent Accounting Pronouncements (Notes) |
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Certain Recent Accounting Pronouncements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Certain Recent Accounting Pronouncements [Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | FAIR VALUE Fair Value Measurement Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, a hierarchy has been established that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1 – Quoted prices in active markets for identical assets or liabilities in active markets that the Company has the ability to access; Level 2 – Observable inputs other than Level 1 including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in less active markets, observable inputs other than quoted prices that are used in the valuation of an asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3 – Unobservable inputs supported by little or no market activity for financial instruments whose value is determined by pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The level in the fair value hierarchy within which the fair value measurement is classified is determined based on the lowest level input that is significant to the fair value measure in its entirety. Market activity is presumed to be orderly in the absence of evidence of forced or disorderly sales, although such sales may still be indicative of fair value. Applicable accounting guidance precludes the use of blockage factors or liquidity adjustments due to the quantity of securities held by an entity. We use fair value to measure certain assets and liabilities on a recurring basis when fair value is the primary measure for accounting. Fair value is used on a nonrecurring basis to measure certain assets when adjusting carrying values, such as the application of lower of cost or fair value accounting, including recognition of impairment on assets. Fair value is also used when providing required disclosures for certain financial instruments. Fair Value Policies and Procedures We have various policies, processes and controls in place to ensure that fair values are reasonably developed, reviewed and approved for use. These include a Securities Valuation Committee comprised of executive management appointed by the Board of Directors. The Securities Valuation Committee reviews and approves on a quarterly basis the key components of fair value estimation, including critical valuation assumptions for Level 3 modeling. A Model Risk Management Group conducts model validations, including internal models, and sets policies and procedures for revalidation, including the timing of revalidation. Third-Party Service Providers We use a third-party pricing service to measure fair value for approximately 92% of our AFS Level 2 securities. Fair value measurements for other AFS Level 2 securities generally use certain inputs corroborated by market data and include standard discounted cash flow analysis. For Level 2 securities, the third-party pricing service provides documentation on an ongoing basis that presents market corroborative data, including detail pricing information and market reference data. The documentation includes benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data, including information from the vendor trading platform. We review, test and validate this information as appropriate. Absent observable trade data, we do not adjust prices from our third-party sources. The following describes the hierarchy designations, valuation methodologies, and key inputs to measure fair value on a recurring basis for designated financial instruments: Available-for-Sale U.S. Treasury, Agencies and Corporations U.S. Treasury securities are measured under Level 1 using quoted market prices when available. U.S. agencies and corporations are measured under Level 2 generally using the previously discussed third party pricing service. Municipal Securities Municipal securities are measured under Level 2 generally using the third-party pricing service or an internal model. Valuation inputs include Baa municipal curves, as well as Federal Home Loan Bank (“FHLB”) and LIBOR swap curves. Our valuation methodology for non-rated municipal securities changed at year-end to utilize more observable inputs, primarily municipal market yield curves, compared to our previous valuation method. The resulting values were determined to be Level 2. Money Market Mutual Funds and Other Money market mutual funds and other securities are measured under Level 1 or Level 2. For Level 1, quoted market prices are used which may include net asset values (“NAVs”) or their equivalents. Level 2 valuations generally use quoted prices for similar securities. Trading Account Securities in the trading account are generally measured under Level 2 using third party pricing service providers as described previously. Bank-Owned Life Insurance Bank-owned life insurance (“BOLI”) is measured under Level 2 according to cash surrender values (“CSVs”) of the insurance policies that are provided by a third-party service. Nearly all policies are general account policies with CSVs based on the Company’s claims on the assets of the insurance companies. The insurance companies’ investments include predominantly fixed income securities consisting of investment-grade corporate bonds and various types of mortgage instruments. Management regularly reviews its BOLI investment performance, including concentrations among insurance providers. Private Equity Investments Private equity investments are generally measured under Level 3. Certain investments that have converted to being publicly traded are measured under Level 1. The majority of these private equity investments are held in Zions’ Small Business Investment Company and are early stage venture investments. The fair value measurements of these investments are updated at least on a quarterly basis, including whenever a new round of financing occurs. Certain of these investments are measured using multiples of operating performance. The fair value measurements of private equity investments are reviewed on a quarterly basis by the Securities Valuation Committee. The Equity Investments Committee, consisting of executives familiar with the investments, reviews periodic financial information, including audited financial statements when available. Certain valuation analytics may be employed that include current and projected financial performance, recent financing activities, economic and market conditions, market comparables, market liquidity, sales restrictions, and other factors. A significant change in the expected performance of the individual investment would result in a change in the fair value measurement of the investment. The amount of unfunded commitments to invest is disclosed in Note 9. Certain restrictions apply for the redemption of these investments and certain investments are prohibited by the Volcker Rule. See discussions in Notes 5 and 9. Agriculture Loan Servicing This asset results from our servicing of agriculture loans approved and funded by Federal Agricultural Mortgage Corporation (“FAMC”). We provide this servicing under an agreement with FAMC for loans they own. The asset’s fair value represents our projection of the present value of future cash flows measured under Level 3 using discounted cash flow methodologies. Interest-Only Strips Interest-only strips are created as a by-product of the securitization process. When the guaranteed portions of small business (“SBA”) 7(a) loans are pooled, interest-only strips may be created in the pooling process. The asset’s fair value represents our projection of the present value of future cash flows measured under Level 3 using discounted cash flow methodologies. Deferred Compensation Plan Assets and Obligations Invested assets in the deferred compensation plan consist of shares of registered investment companies. These mutual funds are valued under Level 1 at quoted market prices, which represents the NAV of shares held by the plan at the end of the period. Derivatives Derivatives are measured according to their classification as either exchange-traded or over-the-counter. Exchange-traded derivatives consist of foreign currency exchange contracts measured under Level 1 because they are traded in active markets. Over-the-counter derivatives, including those for customers, consist of interest rate swaps and options. These derivatives are measured under Level 2 using third party services. Observable market inputs include yield curves (the LIBOR swap curve and relevant overnight index swap curves), foreign exchange rates, commodity prices, option volatilities, counterparty credit risk, and other related data. Credit valuation adjustments are required to reflect nonperformance risk for both the Company and the respective counterparty. These adjustments are determined generally by applying a credit spread to the total expected exposure of the derivative. Securities Sold, Not Yet Purchased Securities sold, not yet purchased, included in “Federal funds and other short-term borrowings” on the balance sheet, are measured under Level 1 using quoted market prices. If not available, quoted prices under Level 2 for similar securities are used. Quantitative Disclosure by Fair Value Hierarchy Assets and liabilities measured at fair value by class on a recurring basis are summarized as follows:
1 The Level 1 private equity investments amount relates to the portion of our SBIC investments that are now publicly traded.
1 The Level 1 private equity investments amount relates to the portion of our SBIC investments that are now publicly traded. Reconciliation of Level 3 Fair Value Measurements The following reconciles the beginning and ending balances of assets and liabilities that are measured at fair value by class on a recurring basis using Level 3 inputs:
No transfers of assets or liabilities occurred among Levels 1, 2 or 3 for the three months ended March 31, 2017 and 2016. The preceding reconciling amounts using Level 3 inputs include the following realized gains in the statement of income:
Nonrecurring Fair Value Measurements Included in the balance sheet amounts are the following amounts of assets that had fair value changes measured on a nonrecurring basis.
The previous fair values may not be current as of the dates indicated, but rather as of the date the fair value change occurred, such as a charge for impairment. Accordingly, carrying values may not equal current fair value.
During the three months ended March 31, we recognized an insignificant amount of net gains in 2017 and $2 million in 2016 from the sale of other real estate owned (“OREO”) properties that had a carrying value at the time of sale of approximately $2 million for each period. Previous to their sale in these periods, we recognized impairment on these properties of an insignificant amount in 2017 and 2016. Private equity investments carried at cost were measured at fair value for impairment purposes according to the methodology previously discussed for these investments. Amounts of PEIs carried at cost were $12 million at March 31, 2017 and $13 million at December 31, 2016. Amounts of other noninterest-bearing investments carried at cost were $293 million at March 31, 2017 and $211 million at December 31, 2016, which were comprised of Federal Reserve and FHLB stock. Private equity investments accounted for using the equity method were $38 million at March 31, 2017 and $35 million at December 31, 2016. Impaired (or nonperforming) loans that are collateral dependent were measured at fair value based on the fair value of the collateral. OREO was measured initially at fair value based on collateral appraisals at the time of transfer and subsequently at the lower of cost or fair value. Measurement of fair value for collateral-dependent loans and OREO was based on third party appraisals that utilize one or more valuation techniques (income, market and/or cost approaches). Any adjustments to calculated fair value were made based on recently completed and validated third party appraisals, third party appraisal services, automated valuation services, or our informed judgment. Evaluations were made to determine that the appraisal process met the relevant concepts and requirements of applicable accounting guidance. Automated valuation services may be used primarily for residential properties when values from any of the previous methods were not available within 90 days of the balance sheet date. These services use models based on market, economic, and demographic values. The use of these models has only occurred in a very few instances and the related property valuations have not been sufficiently significant to consider disclosure under Level 3 rather than Level 2. Impaired loans that are not collateral dependent were measured based on the present value of future cash flows discounted at the expected coupon rates over the lives of the loans. Because the loans were not discounted at market interest rates, the valuations do not represent fair value and have been excluded from the nonrecurring fair value balance in the preceding schedules. Fair Value of Certain Financial Instruments Following is a summary of the carrying values and estimated fair values of certain financial instruments:
This summary excludes financial assets and liabilities for which carrying value approximates fair value and financial instruments that are recorded at fair value on a recurring basis. Financial instruments for which carrying values approximate fair value include cash and due from banks, money market investments, demand, savings and money market deposits, federal funds purchased and other short-term borrowings, and security repurchase agreements. The estimated fair value of demand, savings and money market deposits is the amount payable on demand at the reporting date. Carrying value is used because the accounts have no stated maturity and the customer has the ability to withdraw funds immediately. HTM investment securities primarily consist of municipal securities. They were measured at fair value according to the methodology previously discussed. Loans are measured at fair value according to their status as nonimpaired or impaired. For nonimpaired loans, fair value is estimated by discounting future cash flows using the LIBOR yield curve adjusted by a factor which reflects the credit and interest rate risk inherent in the loan. These future cash flows are then reduced by the estimated “life-of-the-loan” aggregate credit losses in the loan portfolio. These adjustments for lifetime future credit losses are derived from the methods used to estimate the allowance for loan and lease losses (“ALLL”) for our loan portfolio and are adjusted quarterly as necessary to reflect the most recent loss experience. Impaired loans that are collateral dependent are already considered to be held at fair value. Impaired loans that are not collateral dependent have future cash flows reduced by the estimated “life-of-the-loan” credit loss derived from methods used to estimate the ALLL for these loans. See Impaired Loans in Note 6 for details on the impairment measurement method for impaired loans. Loans, other than those held for sale, are not normally purchased and sold by the Company, and there are no active trading markets for most of this portfolio. Time and foreign deposits, and any other short-term borrowings, are measured at fair value by discounting future cash flows using the LIBOR yield curve to the given maturity dates. Long-term debt is measured at fair value based on actual market trades (i.e., an asset value) when available, or discounting cash flows to maturity using the LIBOR yield curve adjusted for credit spreads. These fair value disclosures represent our best estimates based on relevant market information and information about the financial instruments. Fair value estimates are based on judgments regarding current economic conditions, future expected loss experience, risk characteristics of the various instruments, and other factors. These estimates are subjective in nature, involve uncertainties and matters of significant judgment, and cannot be determined with precision. Changes in these methodologies and assumptions could significantly affect the estimates. |
Offsetting Assets and Liabilities (Notes) |
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Cash, Cash Equivalents, and Short-term Investments [Text Block] | OFFSETTING ASSETS AND LIABILITIES Gross and net information for selected financial instruments in the balance sheet is as follows:
Security repurchase and reverse repurchase (“resell”) agreements are offset, when applicable, in the balance sheet according to master netting agreements. Security repurchase agreements are included with “Federal funds and other short-term borrowings.” Derivative instruments may be offset under their master netting agreements; however, for accounting purposes, we present these items on a gross basis in the Company’s balance sheet. See Note 7 for further information regarding derivative instruments. |
Investment Securities |
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Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Securities | INVESTMENTS Investment Securities Securities are classified as HTM, AFS or trading. HTM securities, which management has the intent and ability to hold until maturity, are carried at amortized cost. AFS securities are carried at fair value and unrealized gains and losses are reported as net increases or decreases to accumulated other comprehensive income (“AOCI”). Trading securities are carried at fair value with gains and losses recognized in current period earnings. The purchase premiums and discounts for both HTM and AFS securities are amortized and accreted at a constant effective yield to the contractual maturity date and no assumption is made concerning prepayments. As principal prepayments occur, the portion of the unamortized premium or discount associated with the principal reduction is recognized as interest income in the period the principal is reduced. Note 3 discusses the process to estimate fair value for investment securities.
Maturities The amortized cost and estimated fair value of investment debt securities are shown subsequently as of March 31, 2017 by expected timing of principal payments. Actual principal payments may differ from contractual or expected principal payments because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
The following is a summary of the amount of gross unrealized losses for investment securities and the estimated fair value by length of time the securities have been in an unrealized loss position:
At March 31, 2017 and December 31, 2016, respectively, 453 and 642 HTM and 2,121 and 2,398 AFS investment securities were in an unrealized loss position. Other-Than-Temporary Impairment Ongoing Policy We review investment securities on a quarterly basis for the presence of other-than-temporary impairment (“OTTI”). We assess whether OTTI is present when the fair value of a debt security is less than its amortized cost basis at the balance sheet date (the majority of the investment portfolio are debt securities). Under these circumstances, OTTI is considered to have occurred if (1) we have formed a documented intent to sell identified securities or initiated such sales; (2) it is “more likely than not” we will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of expected cash flows is not sufficient to recover the entire amortized cost basis. Noncredit-related OTTI in securities we intend to sell is recognized in earnings as is any credit-related OTTI in securities, regardless of our intent. Noncredit-related OTTI on AFS securities not expected to be sold is recognized in other comprehensive income (“OCI”). The amount of noncredit-related OTTI in a security is quantified as the difference in a security’s amortized cost after adjustment for credit impairment, and its lower fair value. Presentation of OTTI is made in the statement of income on a gross basis with an offset for the amount of OTTI recognized in OCI. Our OTTI evaluation process takes into consideration current market conditions; fair value in relationship to cost; extent and nature of change in fair value; severity and duration of the impairment; recent events specific to the issuer or industry; our assessment of the creditworthiness of the issuer, including external credit ratings, changes, recent downgrades, and trends; the cash flow priority position of the instrument that we hold in the case of structured securities; volatility of earnings and trends; current analysts’ evaluations; all available information relevant to the collectability of debt securities; and other key measures. In addition, for AFS securities with fair values below amortized cost, we must determine if we intend to sell the securities or if it is more likely than not that we will be required to sell the securities before recovery of their amortized cost basis. For HTM securities, we must determine we have the ability to hold the securities to maturity. We consider any other relevant factors before concluding our evaluation for the existence of OTTI in our securities portfolio. OTTI Conclusions Our 2016 Annual Report on Form 10-K describes in more detail our OTTI evaluation process. The following summarizes the conclusions from our OTTI evaluation by each security type that has significant gross unrealized losses at March 31, 2017: Agency Guaranteed Mortgage-Backed Securities: These pass-through securities are comprised largely of fixed and floating-rate residential mortgage-backed securities issued by the Government National Mortgage Association (“GNMA”), the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation. They were generally purchased at premiums with maturity dates from 10 to 15 years for fixed-rate securities and 30 years for floating-rate securities. These securities benefit from certain guarantee provisions or, in the case of GNMA, direct U.S. government guarantees. Unrealized losses relate to changes in interest rates subsequent to purchase and are not attributable to credit. At March 31, 2017, we did not have an intent to sell identified securities with unrealized losses or initiate such sales, and we believe it is not more likely than not we would be required to sell such securities before recovery of their amortized cost basis. Therefore, these securities did not have any OTTI recognized during the first quarter of 2017. SBA Loan-Backed Securities: These securities were generally purchased at premiums with maturities from 5 to 25 years and have principal cash flows guaranteed by the SBA. Unrealized losses relate to changes in interest rates subsequent to purchase and are not attributable to credit. At March 31, 2017, we did not have an intent to sell identified SBA securities with unrealized losses or initiate such sales, and we believe it is not likely that we would be required to sell such securities before recovery of their amortized cost basis. Therefore, these securities did not have any OTTI recognized during the first quarter of 2017. Municipal Securities: These securities were fixed or variable-rate securities purchased at premiums or at par and with maturities from 1 to 30 years. Unrealized losses may relate to changes in interest rates subsequent to purchase and/or may be attributable to credit. Securities with significant credit deterioration and fair value declines are subject to further assessment for impairment including analysis of the creditworthiness of the issuer. We take into account all available information relevant to the collectability of municipal security, including the extent and nature of change in fair value; recent events specific to the issuer; current analysts’ evaluations; and other key measures. At March 31, 2017, we did not have an intent to sell identified securities with unrealized losses or initiate such sales, and we believe it is not more likely than not we would be required to sell such securities before recovery of their amortized cost basis. Therefore, these securities did not have any OTTI recognized during the first quarter of 2017. The following summarizes gains and losses, including OTTI, of which there was none, that were recognized in the statement of income:
Interest income by security type is as follows:
Investment securities with a carrying value of $2.1 billion at March 31, 2017 and $1.4 billion at December 31, 2016 were pledged to secure public and trust deposits, advances, and for other purposes as required by law. Securities are also pledged as collateral for security repurchase agreements. Private Equity Investments Effect of Volcker Rule The Volcker Rule, as published pursuant to the Dodd-Frank Act in December 2013 and amended in January 2014, significantly restricted certain activities by covered bank holding companies, including restrictions on certain types of securities, proprietary trading, and private equity investing. The Company’s private equity investments (“PEIs”) consist of Small Business Investment Companies (“SBICs”) and non-SBICs. Of the recorded PEIs of $143 million at March 31, 2017, approximately $5 million remain prohibited by the Volcker Rule. As of March 31, 2017, we have sold a total of $11 million of PEIs during 2017 and 2016 as follows: $1 million during 2017 and $10 million during 2016. All of these sales were related to prohibited PEIs and resulted in insignificant amounts of realized gains or losses. We will dispose of the remaining $5 million of prohibited PEIs before the required deadline, which has been extended to July 21, 2017. The Federal Reserve Board announced in December 2016 that it would allow banks to apply for an additional five-year extension to comply with the Dodd-Frank Act requirement for these investments. The Company applied for and was granted an extension for the vast majority of its remaining portfolio of PEIs. See other discussions related to private equity investments in Notes 3 and 9. As discussed in Note 9, we have $24 million at March 31, 2017 of unfunded commitments for PEIs, of which approximately $3 million relate to prohibited PEIs. Until we dispose of the prohibited PEIs, we expect to fund these commitments if and as the capital calls are made, as allowed under the Volcker Rule. |
Loans And Allowance For Credit Losses |
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Loans And Allowance For Credit Losses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans And Allowance For Credit Losses | LOANS AND ALLOWANCE FOR CREDIT LOSSES Loans and Loans Held for Sale Loans are summarized as follows according to major portfolio segment and specific loan class:
Loan balances are presented net of unearned income and fees, which amounted to $69 million at March 31, 2017 and $77 million at December 31, 2016. Owner-occupied and commercial real estate (“CRE”) loans include unamortized premiums of approximately $18 million at March 31, 2017 and $20 million at December 31, 2016. Municipal loans generally include loans to municipalities with the debt service being repaid from general funds or pledged revenues of the municipal entity, or to private commercial entities or 501(c)(3) not-for-profit entities utilizing a pass-through municipal entity to achieve favorable tax treatment. Land development loans included in the construction and land development loan class were $283 million at March 31, 2017 and $290 million at December 31, 2016. Loans with a carrying value of approximately $22.2 billion at March 31, 2017 and $24.0 billion at December 31, 2016 have been pledged at the Federal Reserve and the FHLB of Des Moines as collateral for current and potential borrowings. We sold loans totaling $316 million and $273 million for the three months ended March 31, 2017 and 2016, respectively, that were classified as loans held for sale. The sold loans were derecognized from the balance sheet. Loans classified as loans held for sale primarily consist of conforming residential mortgages and the guaranteed portion of SBA loans. The loans are mainly sold to U.S. government agencies or participated to third parties. We generally have continuing involvement with the transferred loans, typically in the form of servicing rights or securities that are backed by the transferred loans in addition to a guarantee from the respective agency. The securities we receive in a loan transfer are not restricted from being pledged or exchanged. Amounts added to loans held for sale during these same periods were $303 million and $236 million, respectively. The principal balance of sold loans for which we retain servicing was approximately $2.0 billion at both March 31, 2017 and December 31, 2016. Income from loans sold, excluding servicing, was $4 million and $3 million for the three months ended March 31, 2017 and 2016, respectively. Allowance for Credit Losses The ACL consists of the ALLL and the reserve for unfunded lending commitments (“RULC”). Allowance for Loan and Lease Losses The ALLL represents our estimate of probable and estimable losses inherent in the loan and lease portfolio as of the balance sheet date. Losses are charged to the ALLL when recognized. Generally, commercial and CRE loans are charged off or charged down when they are determined to be uncollectible in whole or in part, or when 180 days past due unless the loan is well secured and in process of collection. Consumer loans are either charged off or charged down to net realizable value no later than the month in which they become 180 days past due. Closed-end consumer loans that are not secured by residential real estate are either charged off or charged down to net realizable value no later than the month in which they become 120 days past due. We establish the amount of the ALLL by analyzing the portfolio at least quarterly, and we adjust the provision for loan losses so the ALLL is at an appropriate level at the balance sheet date. We determine our ALLL as the best estimate within a range of estimated losses. The methodologies we use to estimate the ALLL depend upon the impairment status and loan portfolio. The methodology for impaired loans is discussed subsequently. For commercial and CRE loans with commitments equal to or greater than $750,000, we assign internal risk grades using a comprehensive loan grading system based on financial and statistical models, individual credit analysis, and loan officer experience and judgment. The credit quality indicators discussed subsequently are based on this grading system. Estimated losses for these commercial and CRE loans are derived from a statistical analysis of our historical default and loss given default experience over the period of January 2008 through the most recent full quarter. For consumer and small commercial and CRE loans with commitments less than $750,000, we primarily use roll rate models to forecast probable inherent losses. Roll rate models measure the rate at which these loans migrate from one delinquency category to the next worse delinquency category, and eventually to loss. We estimate roll rates for these loans using recent delinquency and loss experience by segmenting our loan portfolios into separate pools based on common risk characteristics and separately calculating historical delinquency and loss experience for each pool. These roll rates are then applied to current delinquency levels to estimate probable inherent losses. The current status and historical changes in qualitative and environmental factors may not be reflected in our quantitative models. Thus, after applying historical loss experience, as described above, we review the quantitatively derived level of ALLL for each segment using qualitative criteria and use those criteria to determine our estimate within the range. We track various risk factors that influence our judgment regarding the level of the ALLL across the portfolio segments. These factors primarily include:
The magnitude of the impact of these factors on our qualitative assessment of the ALLL changes from quarter to quarter according to changes made by management in its assessment of these factors, the extent these factors are already reflected in historic loss rates, and the extent changes in these factors diverge from one to another. We also consider the uncertainty inherent in the estimation process when evaluating the ALLL. Reserve for Unfunded Lending Commitments We also estimate a reserve for potential losses associated with off-balance sheet commitments, including standby letters of credit. We determine the RULC using the same procedures and methodologies that we use for the ALLL. The loss factors used in the RULC are the same as the loss factors used in the ALLL, and the qualitative adjustments used in the RULC are the same as the qualitative adjustments used in the ALLL. We adjust the Company’s unfunded lending commitments that are not unconditionally cancelable to an outstanding amount equivalent using credit conversion factors, and we apply the loss factors to the outstanding equivalents.
Nonaccrual and Past Due Loans Loans are generally placed on nonaccrual status when payment in full of principal and interest is not expected, or the loan is 90 days or more past due as to principal or interest, unless the loan is both well secured and in the process of collection. Factors we consider in determining whether a loan is placed on nonaccrual include delinquency status, collateral value, borrower or guarantor financial statement information, bankruptcy status, and other information which would indicate that the full and timely collection of interest and principal is uncertain. A nonaccrual loan may be returned to accrual status when all delinquent interest and principal become current in accordance with the terms of the loan agreement; the loan, if secured, is well secured; the borrower has paid according to the contractual terms for a minimum of six months; and analysis of the borrower indicates a reasonable assurance of the ability and willingness to maintain payments. Payments received on nonaccrual loans are applied as a reduction to the principal outstanding. Closed-end loans with payments scheduled monthly are reported as past due when the borrower is in arrears for two or more monthly payments. Similarly, open-end credit such as charge-card plans and other revolving credit plans are reported as past due when the minimum payment has not been made for two or more billing cycles. Other multi-payment obligations (i.e., quarterly, semiannual, etc.), single payment, and demand notes are reported as past due when either principal or interest is due and unpaid for a period of 30 days or more.
Credit Quality Indicators In addition to the past due and nonaccrual criteria, we also analyze loans using loan risk-grading systems, which vary based on the size and type of credit risk exposure. The internal risk grades assigned to loans follow our definitions of Pass, Special Mention, Substandard, and Doubtful, which are consistent with published definitions of regulatory risk classifications. Definitions of Pass, Special Mention, Substandard, and Doubtful are summarized as follows: Pass – A Pass asset is higher quality and does not fit any of the other categories described below. The likelihood of loss is considered low. Special Mention – A Special Mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Bank’s credit position at some future date. Substandard – A Substandard asset is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified have well-defined weaknesses and are characterized by the distinct possibility that the Bank may sustain some loss if deficiencies are not corrected. Doubtful – A Doubtful asset has all the weaknesses inherent in a Substandard asset with the added characteristics that the weaknesses make collection or liquidation in full highly questionable and improbable. We generally assign internal risk grades to commercial and CRE loans with commitments equal to or greater than $750,000 based on financial and statistical models, individual credit analysis, and loan officer experience and judgment. For these larger loans, we assign one of multiple grades within the Pass classification or one of the following four grades: Special Mention, Substandard, Doubtful, and Loss. Loss indicates that the outstanding balance has been charged off. We confirm our internal risk grades quarterly, or as soon as we identify information that affects the credit risk of the loan. For consumer loans and certain small commercial and CRE loans with commitments less than $750,000, we generally assign internal risk grades similar to those described previously based on automated rules that depend on refreshed credit scores, payment performance, and other risk indicators. These are generally assigned either a Pass or Substandard grade and are reviewed as we identify information that might warrant a grade change. Outstanding loan balances (accruing and nonaccruing) categorized by these credit quality indicators are summarized as follows:
Impaired Loans Loans are considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due in accordance with the contractual terms of the loan agreement, including scheduled interest payments. For our non-purchased credit-impaired loans, if a nonaccrual loan has a balance greater than $1 million, or if a loan is a troubled debt restructuring (“TDR”), including TDRs that subsequently default, or if the loan is no longer reported as a TDR, we individually evaluate the loan for impairment and estimate a specific reserve for the loan for all portfolio segments under applicable accounting guidance. Smaller nonaccrual loans are pooled for ALLL estimation purposes. Purchase credit-impaired (“PCI”) loans are included in impaired loans and are accounted for under separate accounting guidance. See subsequent discussion under Purchased Loans. When a loan is impaired, we estimate a specific reserve for the loan based on the projected present value of the loan’s future cash flows discounted at the loan’s effective interest rate, the observable market price of the loan, or the fair value of the loan’s underlying collateral. The process of estimating future cash flows also incorporates the same determining factors discussed previously under nonaccrual loans. When we base the impairment amount on the fair value of the loan’s underlying collateral, we generally charge off the portion of the balance that is impaired, such that these loans do not have a specific reserve in the ALLL. Payments received on impaired loans that are accruing are recognized in interest income, according to the contractual loan agreement. Payments received on impaired loans that are on nonaccrual are not recognized in interest income, but are applied as a reduction to the principal outstanding. The amount of interest income recognized on a cash basis during the time the loans were impaired within the three months ended March 31, 2017 and 2016 was not significant. Information on impaired loans individually evaluated is summarized as follows, including the average recorded investment and interest income recognized for the three months ended March 31, 2017 and 2016:
Modified and Restructured Loans Loans may be modified in the normal course of business for competitive reasons or to strengthen the Company’s position. Loan modifications and restructurings may also occur when the borrower experiences financial difficulty and needs temporary or permanent relief from the original contractual terms of the loan. These modifications are structured on a loan-by-loan basis and, depending on the circumstances, may include extended payment terms, a modified interest rate, forgiveness of principal, or other concessions. Loans that have been modified to accommodate a borrower who is experiencing financial difficulties, and for which the Company has granted a concession that it would not otherwise consider, are considered TDRs. We consider many factors in determining whether to agree to a loan modification involving concessions, and seek a solution that will both minimize potential loss to the Company and attempt to help the borrower. We evaluate borrowers’ current and forecasted future cash flows, their ability and willingness to make current contractual or proposed modified payments, the value of the underlying collateral (if applicable), the possibility of obtaining additional security or guarantees, and the potential costs related to a repossession or foreclosure and the subsequent sale of the collateral. TDRs are classified as either accrual or nonaccrual loans. A loan on nonaccrual and restructured as a TDR will remain on nonaccrual status until the borrower has proven the ability to perform under the modified structure for a minimum of six months, and there is evidence that such payments can and are likely to continue as agreed. Performance prior to the restructuring, or significant events that coincide with the restructuring, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual at the time of restructuring or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains classified as a nonaccrual loan. A TDR loan that specifies an interest rate that at the time of the restructuring is greater than or equal to the rate the bank is willing to accept for a new loan with comparable risk may not be reported as a TDR or an impaired loan in the calendar years subsequent to the restructuring if it is in compliance with its modified terms. Selected information on TDRs that includes the recorded investment on an accruing and nonaccruing basis by loan class and modification type is summarized in the following schedules:
Unfunded lending commitments on TDRs amounted to approximately $19 million at March 31, 2017 and $14 million at December 31, 2016. The total recorded investment of all TDRs in which interest rates were modified below market was $133 million at March 31, 2017 and $128 million at December 31, 2016. These loans are included in the previous schedule in the columns for interest rate below market and multiple modification types. The net financial impact on interest income due to interest rate modifications below market for accruing TDRs for the three months ended March 31, 2017 and 2016 was not significant. On an ongoing basis, we monitor the performance of all TDRs according to their restructured terms. Subsequent payment default is defined in terms of delinquency, when principal or interest payments are past due 90 days or more for commercial loans, or 60 days or more for consumer loans. The recorded investment of accruing and nonaccruing TDRs that had a payment default during the period listed below (and are still in default at period end) and are within 12 months or less of being modified as TDRs is as follows:
Note: Total loans modified as TDRs during the 12 months previous to March 31, 2017 and 2016 were $129 million and $180 million, respectively. At March 31, 2017 and December 31, 2016, the amount of foreclosed residential real estate property held by the Company was approximately $2 million, and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure was approximately $13 million and $10 million, respectively. Concentrations of Credit Risk Credit risk is the possibility of loss from the failure of a borrower, guarantor, or another obligor to fully perform under the terms of a credit-related contract. Credit risks (whether on- or off-balance sheet) may occur when individual borrowers, groups of borrowers, or counterparties have similar economic characteristics, including industries, geographies, collateral types, sponsors, etc., and are similarly affected by changes in economic or other conditions. Credit risk also includes the loss that would be recognized subsequent to the reporting date if counterparties failed to perform as contracted. See Note 7 for a discussion of counterparty risk associated with the Company’s derivative transactions. We perform an ongoing analysis of our loan portfolio to evaluate whether there is any significant exposure to any concentrations of credit risk. Based on this analysis, we believe that the loan portfolio is generally well diversified; however, there are certain significant concentrations in CRE and oil and gas-related lending. Further, we cannot guarantee that we have fully understood or mitigated all risk concentrations or correlated risks. We have adopted and adhere to concentration limits on various types of CRE lending, particularly construction and land development lending, leveraged and enterprise value lending, municipal lending, and oil and gas-related lending. All of these limits are continually monitored and revised as necessary. Purchased Loans Background and Accounting We purchase loans in the ordinary course of business and account for them and the related interest income based on their performing status at the time of acquisition. PCI loans have evidence of credit deterioration at the time of acquisition and it is probable that not all contractual payments will be collected. Interest income for PCI loans is accounted for on an expected cash flow basis. Certain other loans acquired by the Company that are not credit-impaired include loans with revolving privileges and are excluded from the PCI tabular disclosures following. Interest income for these loans is accounted for on a contractual cash flow basis. Upon acquisition, in accordance with applicable accounting guidance, the acquired loans were recorded at their fair value without a corresponding ALLL. Certain acquired loans with similar characteristics such as risk exposure, type, size, etc., are grouped and accounted for in loan pools. Outstanding Balances and Accretable Yield The outstanding balances of all required payments and the related carrying amounts for PCI loans are as follows:
At the time of acquisition of PCI loans, we determine the loan’s contractually required payments in excess of all cash flows expected to be collected as an amount that should not be accreted (nonaccretable difference). With respect to the cash flows expected to be collected, the portion representing the excess of the loan’s expected cash flows over our initial investment (accretable yield) is accreted into interest income on a level yield basis over the remaining expected life of the loan or pool of loans. The effects of estimated prepayments are considered in estimating the expected cash flows. Certain PCI loans are not accounted for as previously described because the estimation of cash flows to be collected involves a high degree of uncertainty. Under these circumstances, the accounting guidance provides that interest income is recognized on a cash basis similar to the cost recovery methodology for nonaccrual loans. The net carrying amounts in the preceding schedule also include the amounts for these loans. There were no loans of this type at March 31, 2017 and December 31, 2016. Changes in the accretable yield for PCI loans were as follows:
Note: Amounts have been adjusted based on refinements to the original estimates of the accretable yield. The primary drivers of reclassification to accretable yield from nonaccretable difference and increases in disposals and other resulted primarily from (1) changes in estimated cash flows, (2) unexpected payments on nonaccrual loans, and (3) recoveries on zero balance loans pools. See subsequent discussion under changes in cash flow estimates. ALLL Determination For all acquired loans, the ALLL is only established for credit deterioration subsequent to the date of acquisition and represents our estimate of the inherent losses in excess of the book value of acquired loans. The ALLL for acquired loans is included in the overall ALLL in the balance sheet. During both the three months ended March 31, 2017 and 2016, we adjusted the ALLL for acquired loans by recording a provision for loan losses of an insignificant amount. The provision is net of the ALLL reversals resulting from changes in cash flow estimates, which are discussed subsequently. Changes in the provision for loan losses and related ALLL are driven in large part by the same factors that affect the changes in reclassification from nonaccretable difference to accretable yield, as discussed under changes in cash flow estimates. Changes in Cash Flow Estimates Over the life of the loan or loan pool, we continue to estimate cash flows expected to be collected. We evaluate quarterly at the balance sheet date whether the estimated present values of these loans using the effective interest rates have decreased below their carrying values. If so, we record a provision for loan losses. For increases in carrying values that resulted from better-than-expected cash flows, we use such increases first to reverse any existing ALLL. During the three months ended March 31, 2017 and 2016 total reversals to the ALLL, including the impact of increases in estimated cash flows, were insignificant. When there is no current ALLL, we increase the amount of accretable yield on a prospective basis over the remaining life of the loan and recognize this increase in interest income. For the three months ended March 31, the impact of increased cash flow estimates recognized in the statement of income for acquired loans with no ALLL was approximately $3 million in 2017, and $4 million in 2016, respectively, of additional interest income. |
Derivative Instruments And Hedging Activities |
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Summary of Derivative Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities |
Objectives and Accounting Our objectives in using derivatives are to add stability to interest income or expense, to modify the duration of specific assets or liabilities as we consider advisable, to manage exposure to interest rate movements or other identified risks, and/or to directly offset derivatives sold to our customers. We apply hedge accounting to certain derivatives executed for risk management purposes as described in more detail subsequently. However, we do not apply hedge accounting to all of the derivatives involved in our risk management activities. Derivatives not designated as accounting hedges are not speculative and are used to economically manage our exposure to interest rate movements and other identified risks, but do not meet the strict hedge accounting requirements. We record all derivatives on the balance sheet at fair value. Note 3 discusses the process to estimate fair value for derivatives. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative and the resulting accounting designation. Derivatives used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives used to hedge the exposure to variability in expected cash flows, or other types of forecasted transactions, are considered cash flow hedges. For derivatives designated as fair value hedges, changes in the fair value of the derivative are recognized in earnings together with changes in the fair value of the related hedged item. The net amount, if any, representing hedge ineffectiveness, is reflected in earnings. In previous years, we used fair value hedges to manage interest rate exposure to certain long-term debt. These hedges have been terminated and their remaining balances were completely amortized into earnings during 2015. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative are recorded in OCI and recognized in earnings when the hedged transaction affects earnings. The ineffective portion of changes in the fair value of cash flow hedges is recognized directly in earnings. We use interest rate swaps as part of our cash flow hedging strategy to hedge the variable cash flows associated with designated commercial loans. These interest rate swap agreements designated as cash flow hedges involve the receipt of fixed-rate amounts in exchange for variable-rate payments over the life of the agreements without exchange of the underlying notional amount. During 2016 we closed our branch in Grand Cayman, Grand Cayman Islands B.W.I. and no longer have foreign operations. No derivatives were designated as hedges of investments in foreign operations during 2016. We assess the effectiveness of each hedging relationship by comparing the changes in fair value or cash flows on the derivative hedging instrument with the changes in fair value or cash flows on the designated hedged item or transaction. For derivatives not designated as accounting hedges, changes in fair value are recognized in earnings. The remaining balances of any derivative instruments terminated prior to maturity, including amounts in AOCI for swap hedges, are accreted or amortized to interest income or expense over the period to their previously stated maturity dates. Amounts in AOCI are reclassified to interest income as interest is earned on related variable-rate loans and as amounts for terminated hedges are accreted or amortized to earnings. For the 12 months following March 31, 2017, we estimate that no significant amount will be reclassified. Collateral and Credit Risk Exposure to credit risk arises from the possibility of nonperformance by counterparties. Financial institutions which are well-capitalized and well-established are the counterparties for those derivatives entered into for asset-liability management and to offset derivatives sold to our customers. The Company reduces its counterparty exposure for derivative contracts by centrally clearing all eligible derivatives. For those derivatives that are not centrally cleared, the counterparties are typically financial institutions or customers of the Company. For those that are financial institutions, we manage our credit exposure through the use of a Credit Support Annex (“CSA”) to International Swaps and Derivative Association master agreements. Eligible collateral types are documented by the CSA and controlled under the Company’s general credit policies. Collateral balances are typically monitored on a daily basis. A valuation haircut policy reflects the fact that collateral may fall in value between the date the collateral is called and the date of liquidation or enforcement. In practice, all of the Company’s collateral held as credit risk mitigation under a CSA is cash. We offer interest rate swaps to our customers to assist them in managing their exposure to changing interest rates. Upon issuance, all of these customer swaps are immediately offset through matching derivative contracts, such that the Company minimizes its interest rate risk exposure resulting from such transactions. Most of these customers do not have the capability for centralized clearing. Therefore, we manage the credit risk through loan underwriting, which includes a credit risk exposure formula for the swap, the same collateral and guarantee protection applicable to the loan and credit approvals, limits, and monitoring procedures. Fee income from customer swaps is included in other service charges, commissions and fees. No significant losses on derivative instruments have occurred as a result of counterparty nonperformance. Nevertheless, the related credit risk is considered and measured when and where appropriate. See Note 6 for further discussion of our underwriting, collateral requirements, and other procedures used to address credit risk. Our derivative contracts require us to pledge collateral for derivatives that are in a net liability position at a given balance sheet date. Certain of these derivative contracts contain credit-risk-related contingent features that include the requirement to maintain a minimum debt credit rating. We may be required to pledge additional collateral if a credit-risk-related feature were triggered, such as a downgrade of our credit rating. However, in past situations, not all counterparties have demanded that additional collateral be pledged when provided for under their contracts. At March 31, 2017, the fair value of our derivative liabilities was $56 million, for which we were required to pledge cash collateral of approximately $37 million in the normal course of business. If our credit rating were downgraded one notch by either Standard & Poor’s or Moody’s at March 31, 2017, the additional amount of collateral we could be required to pledge is approximately $1 million. As a result of the Dodd-Frank Act, all newly eligible derivatives entered into are cleared through a central clearinghouse. Derivatives that are centrally cleared do not have credit-risk-related features that require additional collateral if our credit rating were downgraded. Derivative Amounts Selected information with respect to notional amounts and recorded gross fair values at March 31, 2017 and December 31, 2016, and the related gain (loss) of derivative instruments for the three months ended March 31, 2017 and 2016 is summarized as follows:
1 Notional amounts include both the customer swaps and the offsetting derivative contracts.
Note: These schedules are not intended to present at any given time the Company’s long/short position with respect to its derivative contracts.
The fair value of derivative assets was reduced by a net credit valuation adjustment of $2 million and $5 million at March 31, 2017 and 2016, respectively. The adjustment for derivative liabilities was a $1 million decrease and not significant at March 31, 2017 and 2016, respectively. These adjustments are required to reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk. |
Debt And Shareholders' Equity |
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Capitalization, Long-term Debt and Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt And Shareholders' Equity | DEBT AND SHAREHOLDERS’ EQUITY Long-term debt is summarized as follows:
The preceding carrying values represent the par value of the debt adjusted for any unamortized premium or discount or unamortized debt issuance costs. Debt Redemptions and Maturities During the first three months of 2017, $153 million of our 4.5% senior notes matured. Shareholders’ Equity During the first quarter of 2017, the Company continued its common stock buyback program and repurchased 1 million shares of common stock outstanding with a fair value of $45 million at an average price of $42.43 per share, leaving $45 million of buyback capacity remaining in the 2016 capital plan (which spans the timeframe of July 2016 to June 2017). On April 27, 2017, we announced that we will redeem all outstanding shares of our 7.9% Series F preferred stock on the redemption date of June 15, 2017, for a cash payment of approximately $144 million. After the redemption date, the Series F preferred shares will cease to be entitled to dividends and the holders of such shares will not be entitled to exercise any right with regard to such shares except that of receiving the redemption amount. The amount of dividends payable with respect to the June 15, 2017 dividend date has been declared and approved, and will amount to $0.49375 per depositary share for a total amount of $3 million. Accumulated Other Comprehensive Income Accumulated other comprehensive income (loss) was $(111) million at March 31, 2017 compared to $(122) million at December 31, 2016. Changes in AOCI by component are as follows:
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Commitments, Guarantees, And Contingent Liabilities |
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Guarantees, Commitments And Contingencies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantees, Commitments And Contingencies | COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES Commitments and Guarantees Contractual amounts of off-balance sheet financial instruments used to meet the financing needs of our customers are as follows:
The Company’s 2016 Annual Report on Form 10-K contains further information about these commitments and guarantees including their terms and collateral requirements. At March 31, 2017, the Company had recorded approximately $5 million as a liability for the guarantees associated with the standby letters of credit, which consisted of $2 million attributable to the RULC and $3 million of deferred commitment fees. At March 31, 2017, we had unfunded commitments for PEIs of approximately $24 million. These obligations have no stated maturity. PEIs related to these commitments that are prohibited by the Volcker Rule were $3 million at March 31, 2017. See related discussions about these investments in Notes 3 and 5. Legal Matters We are subject to litigation in court and arbitral proceedings, as well as proceedings, investigations, examinations and other actions brought or considered by governmental and self-regulatory agencies. Litigation may relate to lending, deposit and other customer relationships, vendor and contractual issues, employee matters, intellectual property matters, personal injuries and torts, regulatory and legal compliance, and other matters. While most matters relate to individual claims, we are also subject to putative class action claims and similar broader claims. Proceedings, investigations, examinations and other actions brought or considered by governmental and self-regulatory agencies may relate to our banking, investment advisory, trust, securities, and other products and services; our customers’ involvement in money laundering, fraud, securities violations and other illicit activities or our policies and practices relating to such customer activities; and our compliance with the broad range of banking, securities and other laws and regulations applicable to us. At any given time, we may be in the process of responding to subpoenas, requests for documents, data and testimony relating to such matters and engaging in discussions to resolve the matters. As of March 31, 2017, we were subject to the following material litigation and governmental inquiries:
At least quarterly, we review outstanding and new legal matters, utilizing then available information. In accordance with applicable accounting guidance, if we determine that a loss from a matter is probable and the amount of the loss can be reasonably estimated, we establish an accrual for the loss. In the absence of such a determination, no accrual is made. Once established, accruals are adjusted to reflect developments relating to the matters. In our review, we also assess whether we can determine the range of reasonably possible losses for significant matters in which we are unable to determine that the likelihood of a loss is remote. Because of the difficulty of predicting the outcome of legal matters, discussed subsequently, we are able to meaningfully estimate such a range only for a limited number of matters. Based on information available as of March 31, 2017, we estimated that the aggregate range of reasonably possible losses for those matters to be from $0 million to roughly $20 million in excess of amounts accrued. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate. Those matters for which a meaningful estimate is not possible are not included within this estimated range and, therefore, this estimated range does not represent our maximum loss exposure. Based on our current knowledge, we believe that our current estimated liability for litigation and other legal actions and claims, reflected in our accruals and determined in accordance with applicable accounting guidance, is adequate and that liabilities in excess of the amounts currently accrued, if any, arising from litigation and other legal actions and claims for which an estimate as previously described is possible, will not have a material impact on our financial condition, results of operations, or cash flows. However, in light of the significant uncertainties involved in these matters, and the very large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these matters could be material to our financial condition, results of operations, or cash flows for any given reporting period. Any estimate or determination relating to the future resolution of litigation, arbitration, governmental or self-regulatory examinations, investigations or actions or similar matters is inherently uncertain and involves significant judgment. This is particularly true in the early stages of a legal matter, when legal issues and facts have not been well articulated, reviewed, analyzed, and vetted through discovery, preparation for trial or hearings, substantive and productive mediation or settlement discussions, or other actions. It is also particularly true with respect to class action and similar claims involving multiple defendants, matters with complex procedural requirements or substantive issues or novel legal theories, and examinations, investigations and other actions conducted or brought by governmental and self-regulatory agencies, in which the normal adjudicative process is not applicable. Accordingly, we usually are unable to determine whether a favorable or unfavorable outcome is remote, reasonably likely, or probable, or to estimate the amount or range of a probable or reasonably likely loss, until relatively late in the course of a legal matter, sometimes not until a number of years have elapsed. Accordingly, our judgments and estimates relating to claims will change from time to time in light of developments and actual outcomes will differ from our estimates. These differences may be material. |
Retirement Plans |
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Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Plans |
The following discloses the net periodic benefit cost (credit) and its components for the Company’s pension and other retirement plans:
As disclosed in our 2016 Annual Report on Form 10-K, the Company has frozen its participation and benefit accruals for the pension plan and its contributions for individual benefit payments in the postretirement benefit plan. |
Income Taxes |
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Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The effective income tax rate of 24.5% for the first quarter of 2017 was lower than the 2016 first quarter rate of 31.1%. The tax rates for both the first quarters of 2017 and 2016 were benefited primarily by the non-taxability of certain income items; however, the 2017 effective tax rate was further reduced by other adjustments. In the first quarter of 2017 we re-evaluated our state tax positions which resulted in a one-time $14 million benefit to income tax expense, in addition to a $4 million benefit from the implementation of new accounting guidance related to stock-based compensation. Net deferred tax assets were approximately $231 million at March 31, 2017 and $250 million at December 31, 2016, which included a $4 million valuation allowance at each respective reporting date for certain acquired net operating loss carryforwards included in our acquisition of the remaining interests in a less significant subsidiary. We evaluate deferred tax assets on a regular basis to determine whether an additional valuation allowance is required. Based on this evaluation, and considering the weight of the positive evidence compared to the negative evidence, we have concluded that an additional valuation allowance is not required as of March 31, 2017. |
Operating Segment Information |
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Operating Segment Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Segment Information |
We manage our operations and prepare management reports and other information with a primary focus on geographical area. Our banking operations are managed under their own individual brand names, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington. Performance assessment and resource allocation are based upon this geographical structure. We use an internal funds transfer pricing (“FTP”) allocation system to report results of operations for business segments. This process continues to be refined. Total average loans and deposits presented for the banking segments do not include intercompany amounts between banking segments, but may include deposits with the Other segment. Prior period amounts have been reclassified to reflect these changes. As of March 31, 2017, Zions Bank operates 98 branches in Utah, 23 branches in Idaho, and one branch in Wyoming. Amegy operates 74 branches in Texas. CB&T operates 93 branches in California. NBAZ operates 58 branches in Arizona. NSB operates 50 branches in Nevada. Vectra operates 36 branches in Colorado and one branch in New Mexico. TCBW operates one branch in Washington and one branch in Oregon. The operating segment identified as “Other” includes the Parent, Zions Management Services Company, certain nonbank financial service subsidiaries, centralized back-office functions, and eliminations of transactions between segments. The major components of net interest income at the Bank’s back office include the revenue associated with the investments securities portfolio and the offset of the FTP costs and benefits provided to the business segments. Throughout 2016 consolidation efforts continued, which resulted in transitioning full-time equivalents from the business segments to the Company’s back-office units. Due to the continuing nature and timing of this change, the Company’s back-office units retained more direct expenses in 2016 than in prior years. In the first quarter of 2017 we made changes to the FTP process and internal allocation of central expenses to better reflect the performance of business segments. Prior period amounts have been revised to reflect the impact of these changes had they been instituted in 2016. The following schedule does not present total assets or income tax expense for each operating segment, but instead presents average loans, average deposits and net income before income taxes because these are the metrics that management uses when evaluating performance and making decisions pertaining to the operating segments. The Parent’s net interest income includes interest expense on other borrowed funds. The condensed statement of income identifies the components of income and expense which affect the operating amounts presented in the Other segment. The accounting policies of the individual operating segments are the same as those of the Company. Transactions between operating segments are primarily conducted at fair value, resulting in profits that are eliminated for reporting consolidated results of operations. The following schedule presents selected operating segment information for the three months ended March 31, 2017 and 2016:
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Basis of Presentaion Organization and Presentation (Policies) |
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Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Zions Bancorporation (“the Parent”) and its majority-owned subsidiaries (collectively “the Company,” “Zions,” “we,” “our,” “us”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. References to GAAP, including standards promulgated by the Financial Accounting Standards Board (“FASB”), are made according to sections of the Accounting Standards Codification (“ASC”). Changes to the ASC are made with Accounting Standards Updates (“ASU”) that include consensus issues of the Emerging Issues Task Force (“EITF”). In certain cases, ASUs are issued jointly with International Financial Reporting Standards (“IFRS”). Operating results for the three months ended March 31, 2017 and 2016 are not necessarily indicative of the results that may be expected in future periods. In preparing the consolidated financial statements, we are required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The consolidated balance sheet at December 31, 2016 is from the audited financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s 2016 Annual Report on Form 10-K. Certain prior period amounts have been reclassified to conform with the current period presentation. These reclassifications did not affect net income or shareholders’ equity. Zions Bancorporation (“the Parent”) is a financial holding company headquartered in Salt Lake City, Utah, which owns and operates a commercial bank. The Parent and its subsidiaries (collectively “the Company”) provide a full range of banking and related services in 11 Western and Southwestern states through seven separately managed and branded units as follows: Zions Bank, in Utah, Idaho and Wyoming; California Bank & Trust (“CB&T”); Amegy Bank (“Amegy”), in Texas; National Bank of Arizona (“NBAZ”); Nevada State Bank (“NSB”); Vectra Bank Colorado (“Vectra”), in Colorado and New Mexico; and The Commerce Bank of Washington (“TCBW”) which operates under that name in Washington and under the name The Commerce Bank of Oregon (“TCBO”) in Oregon. The Parent also owns and operates certain nonbank subsidiaries that engage in financial services. |
Fair Value (Tables) |
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---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Assets And Liabilities Measured At Fair Value By Class On A Recurring Basis |
1 The Level 1 private equity investments amount relates to the portion of our SBIC investments that are now publicly traded.
1 The Level 1 private equity investments amount relates to the portion of our SBIC investments that are now publicly traded. |
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Schedule Of Assets And Liabilities Measured At Fair Value By Class On A Recurring Basis Using Level 3 Inputs |
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Schedule Of Realized Gains (Losses) Using Level 3 Inputs |
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Schedule Of Assets With Fair Value Changes On Nonrecurring Basis |
The previous fair values may not be current as of the dates indicated, but rather as of the date the fair value change occurred, such as a charge for impairment. Accordingly, carrying values may not equal current fair value.
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Fair Value, by Balance Sheet Grouping [Table Text Block] |
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Offsetting Assets and Liabilities (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offsetting Assets and Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] |
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Investment Securities (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2017 |
Mar. 31, 2016 |
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Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Investment Securities |
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Contractual Maturities Debt Securities |
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Summary Of Amount Of Gross Unrealized Losses For Debt Securities And Estimated Fair Value |
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Gains And Losses, Including OTTI, Recognized In Statement Of Income |
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Tax and Nontaxable Interest Income by Investment Type [Table Text Block] |
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Loans And Allowance For Credit Losses (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment of accuring and nonaccruing troubled debt restructuring [Text Block] |
Note: Total loans modified as TDRs during the 12 months previous to March 31, 2017 and 2016 were $129 million and $180 million, respectively. |
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Quantitative Information about Transferred Financial Assets that have been Derecognized and Other Financial Assets Managed Together [Table Text Block] |
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allowance for loan losses by impairment [Table Text Block] |
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Summary Of Major Portfolio Segment And Specific Loan Class |
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Summary Of Changes in The Allowance For Credit Losses |
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Summary Of Nonaccrual Loans |
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Summary Of Past Due Loans (Accruing And Nonaccruing) |
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Summary Of Outstanding Loan Balances (Accruing And Nonaccruing) Categorized By Credit Quality Indicators |
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Summary Of Information On Impaired Loans |
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Summary Of Selected Information On TDRs That Includes Recorded Investment On An Accruing And Nonaccruing Basis By Loan Class And Modification Type |
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Schedule Of Net Financial Impact On Interest Income Due To Interest Rate Modifications Below Market For Accruing TDR Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Outstanding Balances Of All Required Payments And The Related Carrying Amounts For PCI Loans |
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Schedule Of Changes In The Accretable Yield For PCI Loans |
Note: Amounts have been adjusted based on refinements to the original estimates of the accretable yield. |
Derivative Instruments And Hedging Activities Derivative Instruments and Hedging Activities (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Derivative Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments |
1 Notional amounts include both the customer swaps and the offsetting derivative contracts. |
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Schedule Of Gain (Loss) Of Derivative Instruments |
Note: These schedules are not intended to present at any given time the Company’s long/short position with respect to its derivative contracts.
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Debt And Shareholders' Equity (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | Long-term debt is summarized as follows:
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Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] |
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Schedule Of Changes In Accumulated Other Comprehensive Income (Loss) |
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Debt And Shareholders' Equity Schedule of Long-term Debt Instruments (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | Long-term debt is summarized as follows:
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Commitments, Guarantees, And Contingent Liabilities (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantees, Commitments And Contingencies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Guarantees Issued |
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Retirement Plans (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Net Periodic Benefit Cost (Credit) For Pension And Postretirement Plans |
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Operating Segment Information (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Segment Reporting Information [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Segment Information |
We manage our operations and prepare management reports and other information with a primary focus on geographical area. Our banking operations are managed under their own individual brand names, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington. Performance assessment and resource allocation are based upon this geographical structure. We use an internal funds transfer pricing (“FTP”) allocation system to report results of operations for business segments. This process continues to be refined. Total average loans and deposits presented for the banking segments do not include intercompany amounts between banking segments, but may include deposits with the Other segment. Prior period amounts have been reclassified to reflect these changes. As of March 31, 2017, Zions Bank operates 98 branches in Utah, 23 branches in Idaho, and one branch in Wyoming. Amegy operates 74 branches in Texas. CB&T operates 93 branches in California. NBAZ operates 58 branches in Arizona. NSB operates 50 branches in Nevada. Vectra operates 36 branches in Colorado and one branch in New Mexico. TCBW operates one branch in Washington and one branch in Oregon. The operating segment identified as “Other” includes the Parent, Zions Management Services Company, certain nonbank financial service subsidiaries, centralized back-office functions, and eliminations of transactions between segments. The major components of net interest income at the Bank’s back office include the revenue associated with the investments securities portfolio and the offset of the FTP costs and benefits provided to the business segments. Throughout 2016 consolidation efforts continued, which resulted in transitioning full-time equivalents from the business segments to the Company’s back-office units. Due to the continuing nature and timing of this change, the Company’s back-office units retained more direct expenses in 2016 than in prior years. In the first quarter of 2017 we made changes to the FTP process and internal allocation of central expenses to better reflect the performance of business segments. Prior period amounts have been revised to reflect the impact of these changes had they been instituted in 2016. The following schedule does not present total assets or income tax expense for each operating segment, but instead presents average loans, average deposits and net income before income taxes because these are the metrics that management uses when evaluating performance and making decisions pertaining to the operating segments. The Parent’s net interest income includes interest expense on other borrowed funds. The condensed statement of income identifies the components of income and expense which affect the operating amounts presented in the Other segment. The accounting policies of the individual operating segments are the same as those of the Company. Transactions between operating segments are primarily conducted at fair value, resulting in profits that are eliminated for reporting consolidated results of operations. The following schedule presents selected operating segment information for the three months ended March 31, 2017 and 2016:
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Schedule of Segment Reporting Information, by Segment |
|
Basis of Presentaion (Details) |
Mar. 31, 2017
States
|
---|---|
Basis Of Presentation [Abstract] | |
Number of States in which Entity Operates | 11 |
Certain Recent Accounting Pronouncements Certain Recent Accounting Pronouncements (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Dec. 31, 2016 |
|
Accounting Policies [Abstract] | ||
Operating Leases, Future Minimum Payments Due | $ 275 | |
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle | $ 4 |
Fair Value (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
|
Derivatives, Fair Value [Line Items] | |||
Other noninterest-bearing investments valued under the cost method | $ 12 | $ 13 | |
Federal Home Loan Bank Stock and Federal Reserve Bank Stock | 293 | 211 | |
Net gains on sale of OREO properties | 0 | $ 1 | |
Principal amount of other real estate owned property sold | 2 | ||
Equity Method Investments, Fair Value Disclosure | 38 | 35 | |
OREO Properties [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Net gains on sale of OREO properties | $ 2 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of AFS securities | 15,473 | 13,188 | |
Fair Value, Inputs, Level 3 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of AFS securities | 0 | $ 0 | |
Third Party Pricing Service [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of AFS securities | $ 0 |
Fair Value (Schedule Of Realized Gains (Losses) Using Level 3 Inputs) (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other Assets, Fair Value Disclosure | $ 95 | $ 91 | |
Other Liabilities, Fair Value Disclosure | 95 | $ 91 | |
Level 3 Equity Securities Gains (Losses), Net [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Realized gains (losses) from Level 3 inputs | $ 3 | $ 0 |
Fair Value Fair Value (Summary of Quantitative Information Relating to the Principal Valuation Techniques and Significant Unobservable Inputs for Level 3) (Details) - USD ($) $ in Millions |
Mar. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Other Credit Derivatives [Member] | Asset-Backed Securities [Member] | ||
Summary of Quantitative Information Relating to the Principal Valuation Techniques and Significant Unobservable Inputs for Level 3 [Line Items] | ||
Investments, Fair Value Disclosure | $ 24 | |
Fair Value, Inputs, Level 3 [Member] | ||
Summary of Quantitative Information Relating to the Principal Valuation Techniques and Significant Unobservable Inputs for Level 3 [Line Items] | ||
Investments, Fair Value Disclosure | $ 0 | $ 0 |
Investment Securities (Gains And Losses, Including OTTI, Recognized In Statement Of Income) (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
Investments [Abstract] | ||
Investment securities, Held-to-maturity, Gross gains | $ 0 | $ 0 |
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities | 0 | 0 |
Investment securities, Available-for-sale, Gross gains | 0 | 0 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | 0 | 0 |
Other noninterest-bearing investments, Nonmarketable equity securities, Gross gains | 10 | 3 |
Other noninterest-bearing investments, Nonmarketable equity securities, Gross losses | 5 | 3 |
Total investment securities and other noninterest-bearing investments, Gross gains | 10 | 3 |
Total investment securities and other noninterest-bearing investments, Gross losses | 5 | 3 |
Net losses | 5 | 0 |
Gain (Loss) on Sale of Equity Investments | $ 5 | $ 0 |
Investment Securities Taxable and Nontaxable Interest Income by Investment Type (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
Noninterest Income | $ 78 | $ 47 |
Taxable [Member] | ||
Noninterest Income | 69 | 42 |
Nontaxable [Member] | ||
Noninterest Income | 9 | 5 |
Held-to-maturity Securities [Member] | ||
Noninterest Income | 7 | 5 |
Held-to-maturity Securities [Member] | Taxable [Member] | ||
Noninterest Income | 3 | 2 |
Held-to-maturity Securities [Member] | Nontaxable [Member] | ||
Noninterest Income | 4 | 3 |
Available-for-sale Securities [Member] | ||
Noninterest Income | 71 | 42 |
Available-for-sale Securities [Member] | Taxable [Member] | ||
Noninterest Income | 66 | 40 |
Available-for-sale Securities [Member] | Nontaxable [Member] | ||
Noninterest Income | $ 5 | $ 2 |
Loans And Allowance For Credit Losses (Summary Of Major Portfolio Segment And Specific Loan Class) (Details) - USD ($) $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at end of period | $ 544 | $ 612 | ||
Loans held for sale | 128 | $ 172 | ||
Commercial and industrial | 13,368 | 13,452 | ||
Leasing | 404 | 423 | ||
Owner occupied | 6,973 | 6,962 | ||
Municipal | 811 | 778 | ||
Construction and land development | 2,123 | 2,019 | ||
Term | 9,083 | 9,322 | ||
Provision for loan losses | (23) | (42) | ||
Allowance for Loan and Lease Losses, Write-offs | (57) | (48) | ||
Allowance for Loan and Lease Losses, Recoveries of Bad Debts | 11 | 12 | ||
Net loan and lease charge-offs | (46) | (36) | ||
Reserve for unfunded lending commitments | 60 | 69 | 65 | $ 75 |
Provision for Unfunded Lending Commitments | 5 | 6 | ||
Total allowance for credit losses | 604 | $ 681 | ||
Loans Receivable, Gross, Commercial, Real Estate | 11,206 | 11,341 | ||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 2,638 | 2,645 | ||
Loans and Leases Receivable, Gross, Consumer, Mortgage | 6,185 | 5,891 | ||
Loans and Leases Receivable, Gross, Consumer, Construction | 517 | 486 | ||
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 459 | 481 | ||
Loans and Leases Receivable, Gross, Consumer, Other | 181 | 190 | ||
Loans and Leases Receivable, Gross | 42,742 | 42,649 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable before Fees, Gross | 21,556 | 21,615 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable before Fees, Gross | $ 9,980 | $ 9,693 |
Loans And Allowance For Credit Losses (Summary Of Changes In The Allowance For Credit Losses) (Details) - USD ($) $ in Millions |
3 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
|
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan and Lease Losses, Provision for Loss, Gross | $ (23) | $ (42) | ||||
Allowance for Loan and Lease Losses, Write-offs | (57) | (48) | ||||
Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 567 | 606 | ||||
Allowance for Loan and Lease Losses, Adjustments, Other | (46) | (36) | ||||
Balance at end of period | 60 | 69 | ||||
Allowance for loan losses | 567 | 606 | $ 544 | $ 567 | $ 612 | $ 606 |
Reserve for unfunded lending commitments | 60 | 69 | 60 | 65 | 69 | 75 |
Total allowance for credit losses | 604 | 681 | ||||
Allowance for Loan and Lease Losses, Recoveries of Bad Debts | 11 | 12 | ||||
Provision for Unfunded Lending Commitments | (5) | (6) | ||||
Balance at end of period | 544 | 612 | ||||
Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan and Lease Losses, Provision for Loss, Gross | (22) | (46) | ||||
Allowance for Loan and Lease Losses, Write-offs | (51) | 43 | ||||
Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 420 | 454 | ||||
Allowance for Loan and Lease Losses, Adjustments, Other | (45) | (36) | ||||
Balance at end of period | 50 | 56 | ||||
Allowance for loan losses | 420 | 454 | 397 | 420 | 464 | 454 |
Reserve for unfunded lending commitments | 50 | 56 | 50 | 54 | 56 | 58 |
Total allowance for credit losses | 447 | 520 | ||||
Allowance for Loan and Lease Losses, Recoveries of Bad Debts | 6 | 7 | ||||
Provision for Unfunded Lending Commitments | (4) | 2 | ||||
Balance at end of period | 397 | 464 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan and Lease Losses, Provision for Loss, Gross | 3 | (2) | ||||
Allowance for Loan and Lease Losses, Write-offs | (1) | 1 | ||||
Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 116 | 114 | ||||
Allowance for Loan and Lease Losses, Adjustments, Other | 1 | 2 | ||||
Balance at end of period | 10 | 13 | ||||
Allowance for loan losses | 116 | 114 | 114 | 116 | 118 | 114 |
Reserve for unfunded lending commitments | 10 | 13 | 10 | 11 | 13 | 17 |
Total allowance for credit losses | 124 | 131 | ||||
Allowance for Loan and Lease Losses, Recoveries of Bad Debts | 2 | 3 | ||||
Provision for Unfunded Lending Commitments | (1) | 4 | ||||
Balance at end of period | 114 | 118 | ||||
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan and Lease Losses, Provision for Loss, Gross | (4) | 6 | ||||
Allowance for Loan and Lease Losses, Write-offs | (5) | 4 | ||||
Allowance for Credit Losses [Roll Forward] | ||||||
Balance at beginning of period | 31 | 38 | ||||
Allowance for Loan and Lease Losses, Adjustments, Other | (2) | (2) | ||||
Balance at end of period | 0 | 0 | ||||
Allowance for loan losses | 31 | 38 | 33 | 31 | 30 | 38 |
Reserve for unfunded lending commitments | 0 | 0 | 0 | $ 0 | 0 | $ 0 |
Total allowance for credit losses | $ 33 | $ 30 | ||||
Allowance for Loan and Lease Losses, Recoveries of Bad Debts | 3 | 2 | ||||
Provision for Unfunded Lending Commitments | 0 | 0 | ||||
Balance at end of period | $ 33 | $ 30 |
Loans And Allowance For Credit Losses (Summary Of ALLL And Outstanding Loan Balances According To The Company's Impairment Method) (Details) - USD ($) $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | $ 655 | $ 619 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 6 | 9 | ||
Allowance for loan losses: Individually evaluated for impairment | (51) | $ (65) | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 492 | 502 | ||
Outstanding loan balances: Individually evaluated for impairment | 645 | 619 | ||
Outstanding loan balances: Collectively evaluated for impairment | 42,026 | 41,953 | ||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 71 | 77 | ||
Loans and Leases Receivable, Gross | 42,742 | 42,649 | ||
Financing Receivable Allowance For Credit Losses and Receivables Acquired With Deteriorated Credit Quality | 1 | 0 | ||
Loans and Leases Receivable, Allowance | 544 | 612 | 567 | $ 606 |
Owner Occupied [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 101 | 122 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 2 | 2 | ||
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses: Individually evaluated for impairment | (43) | (56) | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 354 | 364 | ||
Outstanding loan balances: Individually evaluated for impairment | 490 | 466 | ||
Outstanding loan balances: Collectively evaluated for impairment | 21,033 | 21,111 | ||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 33 | 38 | ||
Loans and Leases Receivable, Gross | 21,556 | 21,615 | ||
Financing Receivable Allowance For Credit Losses and Receivables Acquired With Deteriorated Credit Quality | 0 | 0 | ||
Loans and Leases Receivable, Allowance | 397 | 464 | 420 | 454 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 13 | 15 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 1 | ||
Loans and Leases Receivable, Allowance | 114 | 118 | 116 | 114 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 1 | 2 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | ||
Allowance for loan losses: Individually evaluated for impairment | (5) | (6) | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 27 | 25 | ||
Outstanding loan balances: Individually evaluated for impairment | 73 | 75 | ||
Outstanding loan balances: Collectively evaluated for impairment | 9,900 | 9,611 | ||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 7 | 7 | ||
Loans and Leases Receivable, Gross | 9,980 | 9,693 | ||
Financing Receivable Allowance For Credit Losses and Receivables Acquired With Deteriorated Credit Quality | 1 | 0 | ||
Loans and Leases Receivable, Allowance | 33 | 30 | 31 | $ 38 |
Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 495 | 405 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 4 | ||
Term [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 68 | 106 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 2 | 3 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 81 | 121 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 2 | 4 | ||
Allowance for loan losses: Individually evaluated for impairment | (3) | (3) | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 111 | 113 | ||
Outstanding loan balances: Individually evaluated for impairment | 82 | 78 | ||
Outstanding loan balances: Collectively evaluated for impairment | 11,093 | 11,231 | ||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 31 | 32 | ||
Loans and Leases Receivable, Gross | 11,206 | 11,341 | ||
Financing Receivable Allowance For Credit Losses and Receivables Acquired With Deteriorated Credit Quality | 0 | 0 | ||
Loans and Leases Receivable, Allowance | 114 | $ 116 | ||
Home Equity Line of Credit [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 21 | 25 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | ||
One Through Four Family Residential [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 54 | 63 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 1 | ||
Construction And Other Consumer Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 3 | 3 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | ||
Revolving Credit Facility [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | ||
Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 79 | 93 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 1 | ||
Municipal [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | 1 | 1 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | $ 0 | $ 0 |
Loans And Allowance For Credit Losses (Summary Of Nonaccrual Loans) (Details) - USD ($) $ in Millions |
Mar. 31, 2017 |
Dec. 31, 2016 |
||
---|---|---|---|---|
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | [1] | $ 331 | $ 381 | |
loans held for sale [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 34 | 40 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 7 | 7 | ||
Finance Leases Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 13 | 14 | ||
Owner Occupied [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 89 | 74 | ||
Municipal [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 1 | 1 | ||
Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 461 | 443 | ||
Term [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 38 | 29 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 45 | 36 | ||
Home Equity Line of Credit [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 9 | 11 | ||
One Through Four Family Residential [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 35 | 36 | ||
Construction And Other Consumer Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 1 | 2 | ||
Revolving Credit Facility [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 0 | 1 | ||
Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 45 | 50 | ||
Financing Receivables, Total [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | 551 | 529 | ||
Commercial and Industrial Sector [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total | $ 358 | $ 354 | ||
|
Loans And Allowance For Credit Losses (Summary Of Past Due Loans (Accruing And Nonaccruing)) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 18 | $ 7 | $ 129 | $ 180 | ||||
Financing Receivable, Recorded Investment, Current | 42,353 | 42,353 | $ 42,340 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 197 | 197 | 150 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 192 | 192 | 159 | |||||
Total past due | 389 | 389 | 309 | |||||
Loans and Leases Receivable, Gross | 42,742 | 42,742 | 42,649 | |||||
Accruing loans 90+ days past due | 30 | 30 | 36 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 331 | 331 | 381 | ||||
LoansReceivableHeldForSaleNet [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 172 | |||||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 0 | |||||||
Total past due | 0 | |||||||
Loans and Leases Receivable, Gross | 172 | |||||||
Accruing loans 90+ days past due | 0 | |||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 40 | ||||||
Commercial And Industrial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 14 | 3 | ||||||
Commercial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 21,556 | 21,556 | 21,615 | |||||
Commercial Loan [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 16 | 7 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 461 | 461 | 443 | |||||
Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7 | 7 | 7 | |||||
Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 9,980 | 9,980 | 9,693 | |||||
Consumer Loan [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 45 | 45 | 50 | |||||
Finance Leases Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 13 | 13 | 14 | |||||
Owner Occupied [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 4 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 89 | 89 | 74 | |||||
Municipal [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1 | 1 | 1 | |||||
Term [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 38 | 38 | 29 | |||||
Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||||||
Loans and Leases Receivable, Gross | 11,206 | 11,206 | 11,341 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 45 | 45 | 36 | |||||
Home Equity Line of Credit [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9 | 9 | 11 | |||||
One Through Four Family Residential [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 35 | 35 | 36 | |||||
Construction And Other Consumer Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1 | 1 | 2 | |||||
Revolving Credit Facility [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | $ 0 | $ 1 | |||||
Accruing [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||||||
Accruing [Member] | Commercial And Industrial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||||||
Accruing [Member] | Commercial Loan [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||||||
Accruing [Member] | Owner Occupied [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||||||
Accruing [Member] | Term [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||||||
Accruing [Member] | Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||||||
Nonaccruing [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 18 | 3 | ||||||
Nonaccruing [Member] | Commercial And Industrial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 14 | 3 | ||||||
Nonaccruing [Member] | Commercial Loan [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 16 | 3 | ||||||
Nonaccruing [Member] | Owner Occupied [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||||||
Nonaccruing [Member] | Term [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||||||
Nonaccruing [Member] | Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2 | $ 0 | ||||||
|
Loans And Allowance For Credit Losses (Summary Of Outstanding Loan Balances (Accruing And Nonaccruing) Categorized By Credit Quality Indicators) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 18 | $ 7 | $ 129 | $ 180 | ||||
Financing Receivable, Recorded Investment, Current | 42,353 | 42,353 | $ 42,340 | |||||
Loans held for sale | 128 | 128 | 172 | |||||
Commercial and industrial | 13,368 | 13,368 | 13,452 | |||||
Leasing | 404 | 404 | 423 | |||||
Owner occupied | 6,973 | 6,973 | 6,962 | |||||
Municipal | 811 | 811 | 778 | |||||
Construction and land development | 2,123 | 2,123 | 2,019 | |||||
Term | 9,083 | 9,083 | 9,322 | |||||
Loans Receivable, Gross, Commercial, Real Estate | 11,206 | 11,206 | 11,341 | |||||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 2,638 | 2,638 | 2,645 | |||||
1-4 family residential | 6,185 | 6,185 | 5,891 | |||||
Loans and Leases Receivable, Gross, Consumer, Construction | 517 | 517 | 486 | |||||
Bankcard and other revolving plans | 459 | 459 | 481 | |||||
Other | 181 | 181 | 190 | |||||
Loans and Leases Receivable, Gross | 42,742 | 42,742 | 42,649 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 197 | 197 | 150 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 192 | 192 | 159 | |||||
Financing Receivable, Recorded Investment, Past Due | 389 | 389 | 309 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 30 | 30 | 36 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 331 | 331 | 381 | ||||
Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable before Fees, Gross | 9,980 | 9,980 | 9,693 | |||||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 2,638 | 2,638 | 2,645 | |||||
1-4 family residential | 6,185 | 6,185 | 5,891 | |||||
Loans and Leases Receivable, Gross, Consumer, Construction | 517 | 517 | 486 | |||||
Bankcard and other revolving plans | 459 | 459 | 481 | |||||
Other | 181 | 181 | 190 | |||||
Loans and Leases Receivable, Gross | 9,980 | 9,980 | 9,693 | |||||
Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Construction and land development | 2,123 | 2,123 | 2,019 | |||||
Term | 9,083 | 9,083 | 9,322 | |||||
Loans Receivable, Gross, Commercial, Real Estate | 11,206 | 11,206 | 11,341 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7 | 7 | 7 | |||||
Commercial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Commercial and industrial | 13,368 | 13,368 | 13,452 | |||||
Leasing | 404 | 404 | 423 | |||||
Owner occupied | 6,973 | 6,973 | 6,962 | |||||
Municipal | 811 | 811 | 778 | |||||
Loans and Leases Receivable before Fees, Gross | 21,556 | 21,556 | 21,615 | |||||
Loans and Leases Receivable, Gross | 21,556 | 21,556 | 21,615 | |||||
Pass [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 40,730 | 40,730 | 40,564 | |||||
Pass [Member] | Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable before Fees, Gross | 9,915 | 9,915 | 9,629 | |||||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 2,620 | 2,620 | 2,629 | |||||
1-4 family residential | 6,143 | 6,143 | 5,851 | |||||
Loans and Leases Receivable, Gross, Consumer, Construction | 515 | 515 | 482 | |||||
Bankcard and other revolving plans | 457 | 457 | 478 | |||||
Other | 180 | 180 | 189 | |||||
Pass [Member] | Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Construction and land development | 2,043 | 2,043 | 1,942 | |||||
Term | 8,843 | 8,843 | 9,096 | |||||
Loans Receivable, Gross, Commercial, Real Estate | 10,886 | 10,886 | 11,038 | |||||
Pass [Member] | Commercial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Commercial and industrial | 12,175 | 12,175 | 12,185 | |||||
Leasing | 376 | 376 | 387 | |||||
Owner occupied | 6,573 | 6,573 | 6,560 | |||||
Municipal | 805 | 805 | 765 | |||||
Loans and Leases Receivable before Fees, Gross | 19,929 | 19,929 | 19,897 | |||||
Special Mention [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 548 | 548 | 508 | |||||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable before Fees, Gross | 0 | 0 | 0 | |||||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 0 | 0 | 0 | |||||
1-4 family residential | 0 | 0 | 0 | |||||
Loans and Leases Receivable, Gross, Consumer, Construction | 0 | 0 | 0 | |||||
Bankcard and other revolving plans | 0 | 0 | 0 | |||||
Other | 0 | 0 | 0 | |||||
Special Mention [Member] | Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Construction and land development | 23 | 23 | 52 | |||||
Term | 111 | 111 | 82 | |||||
Loans Receivable, Gross, Commercial, Real Estate | 134 | 134 | 134 | |||||
Special Mention [Member] | Commercial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Commercial and industrial | 305 | 305 | 266 | |||||
Leasing | 5 | 5 | 5 | |||||
Owner occupied | 104 | 104 | 96 | |||||
Municipal | 0 | 0 | 7 | |||||
Loans and Leases Receivable before Fees, Gross | 414 | 414 | 374 | |||||
Total Allowance [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 544 | 544 | 567 | |||||
Total Allowance [Member] | Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable before Fees, Gross | 33 | 33 | 31 | |||||
Total Allowance [Member] | Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans Receivable, Gross, Commercial, Real Estate | 114 | 114 | 116 | |||||
Total Allowance [Member] | Commercial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable before Fees, Gross | 397 | 397 | 420 | |||||
Doubtful [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 1 | 1 | 4 | |||||
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable before Fees, Gross | 0 | 0 | 0 | |||||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 0 | 0 | 0 | |||||
1-4 family residential | 0 | 0 | 0 | |||||
Loans and Leases Receivable, Gross, Consumer, Construction | 0 | 0 | 0 | |||||
Bankcard and other revolving plans | 0 | 0 | 0 | |||||
Other | 0 | 0 | 0 | |||||
Doubtful [Member] | Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Construction and land development | 0 | 0 | 0 | |||||
Term | 0 | 0 | 0 | |||||
Loans Receivable, Gross, Commercial, Real Estate | 0 | 0 | 0 | |||||
Doubtful [Member] | Commercial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Commercial and industrial | 1 | 1 | 3 | |||||
Leasing | 0 | 0 | 1 | |||||
Owner occupied | 0 | 0 | 0 | |||||
Municipal | 0 | 0 | 0 | |||||
Loans and Leases Receivable before Fees, Gross | 1 | 1 | 4 | |||||
Substandard [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 1,463 | 1,463 | 1,573 | |||||
Substandard [Member] | Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable before Fees, Gross | 65 | 65 | 64 | |||||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 18 | 18 | 16 | |||||
1-4 family residential | 42 | 42 | 40 | |||||
Loans and Leases Receivable, Gross, Consumer, Construction | 2 | 2 | 4 | |||||
Bankcard and other revolving plans | 2 | 2 | 3 | |||||
Other | 1 | 1 | 1 | |||||
Substandard [Member] | Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Construction and land development | 57 | 57 | 25 | |||||
Term | 129 | 129 | 144 | |||||
Loans Receivable, Gross, Commercial, Real Estate | 186 | 186 | 169 | |||||
Substandard [Member] | Commercial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Commercial and industrial | 887 | 887 | 998 | |||||
Leasing | 23 | 23 | 30 | |||||
Owner occupied | 296 | 296 | 306 | |||||
Municipal | 6 | 6 | 6 | |||||
Loans and Leases Receivable before Fees, Gross | 1,212 | 1,212 | 1,340 | |||||
loans held for sale [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 113 | 113 | ||||||
Loans and Leases Receivable, Gross | 128 | 128 | ||||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 15 | 15 | ||||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 0 | 0 | 0 | |||||
Financing Receivable, Recorded Investment, Past Due | 15 | 15 | ||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 19 | 19 | |||||
Consumer Loan [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 9,925 | 9,925 | 9,638 | |||||
Loans and Leases Receivable, Gross | 9,980 | 9,980 | 9,693 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 28 | 28 | 22 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 27 | 27 | 33 | |||||
Financing Receivable, Recorded Investment, Past Due | 55 | 55 | 55 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 4 | 4 | 5 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 15 | 15 | 17 | ||||
Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 180 | 180 | 189 | |||||
Loans and Leases Receivable, Gross | 181 | 181 | 190 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 1 | 1 | 1 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 0 | 0 | 0 | |||||
Financing Receivable, Recorded Investment, Past Due | 1 | 1 | 1 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 0 | 0 | 0 | ||||
Term [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 9,047 | 9,047 | 9,291 | |||||
Loans and Leases Receivable, Gross | 9,083 | 9,083 | 9,322 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 11 | 11 | 9 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 25 | 25 | 22 | |||||
Financing Receivable, Recorded Investment, Past Due | 36 | 36 | 31 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 14 | 14 | 12 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 24 | 24 | 18 | ||||
Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 2,113 | 2,113 | 2,010 | |||||
Loans and Leases Receivable, Gross | 2,123 | 2,123 | 2,019 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 3 | 3 | 7 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 7 | 7 | 2 | |||||
Financing Receivable, Recorded Investment, Past Due | 10 | 10 | 9 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 1 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 0 | 0 | 1 | ||||
Finance Leases Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 401 | 401 | 423 | |||||
Loans and Leases Receivable, Gross | 404 | 404 | 423 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 2 | 2 | 0 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 1 | 1 | 0 | |||||
Financing Receivable, Recorded Investment, Past Due | 3 | 3 | 0 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 11 | 11 | 14 | ||||
Owner Occupied [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 6,880 | 6,880 | 6,894 | |||||
Loans and Leases Receivable, Gross | 6,973 | 6,973 | 6,962 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 59 | 59 | 40 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 34 | 34 | 28 | |||||
Financing Receivable, Recorded Investment, Past Due | 93 | 93 | 68 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3 | 3 | 8 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 35 | 35 | 43 | ||||
Municipal [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 811 | 811 | 778 | |||||
Loans and Leases Receivable, Gross | 811 | 811 | 778 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 0 | 0 | 0 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 0 | 0 | 0 | |||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | 0 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 1 | 1 | 1 | ||||
Commercial Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 11,160 | 11,160 | 11,301 | |||||
Loans and Leases Receivable, Gross | 11,206 | 11,206 | 11,341 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 14 | 14 | 16 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 32 | 32 | 24 | |||||
Financing Receivable, Recorded Investment, Past Due | 46 | 46 | 40 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 14 | 14 | 13 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 24 | 24 | 19 | ||||
Home Equity Line of Credit [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 2,626 | 2,626 | 2,635 | |||||
Loans and Leases Receivable, Gross | 2,638 | 2,638 | 2,645 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 7 | 7 | 4 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 5 | 5 | 6 | |||||
Financing Receivable, Recorded Investment, Past Due | 12 | 12 | 10 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 2 | 2 | 1 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 4 | 4 | 5 | ||||
Commercial Loan [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 21,268 | 21,268 | 21,401 | |||||
Loans and Leases Receivable, Gross | 21,556 | 21,556 | 21,615 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 155 | 155 | 112 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 133 | 133 | 102 | |||||
Financing Receivable, Recorded Investment, Past Due | 288 | 288 | 214 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 12 | 12 | 18 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 292 | 292 | 345 | ||||
One Through Four Family Residential [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 6,156 | 6,156 | 5,857 | |||||
Loans and Leases Receivable, Gross | 6,185 | 6,185 | 5,891 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 11 | 11 | 12 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 18 | 18 | 22 | |||||
Financing Receivable, Recorded Investment, Past Due | 29 | 29 | 34 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 11 | 11 | 11 | ||||
Construction And Other Consumer Real Estate [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 509 | 509 | 479 | |||||
Loans and Leases Receivable, Gross | 517 | 517 | 486 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 6 | 6 | 3 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 2 | 2 | 4 | |||||
Financing Receivable, Recorded Investment, Past Due | 8 | 8 | 7 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1 | 1 | 3 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 0 | 0 | 0 | ||||
Commercial and Industrial Sector [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Current | 13,176 | 13,176 | 13,306 | |||||
Loans and Leases Receivable, Gross | 13,368 | 13,368 | 13,452 | |||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 94 | 94 | 72 | |||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 98 | 98 | 74 | |||||
Financing Receivable, Recorded Investment, Past Due | 192 | 192 | 146 | |||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 9 | 9 | 10 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 358 | 358 | 354 | |||||
Commercial and Industrial Sector [Member] | Commercial And Industrial [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | $ 245 | $ 245 | $ 287 | ||||
|
Loans And Allowance For Credit Losses (Summary Of Information On Impaired Loans) (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
|
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans and Leases Receivable, Gross, Consumer, Home Equity | $ 2,638 | $ 2,645 | |
Unpaid principal balance | 790 | 788 | |
Recorded investment | 688 | 660 | |
Impaired Financing Receivable, Related Allowance | 50 | 63 | |
Average recorded investment | 655 | $ 619 | |
Interest income recognized | 6 | 9 | |
Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 126 | 115 | |
Recorded investment | 112 | 101 | |
Impaired Financing Receivable, Related Allowance | 3 | 3 | |
Average recorded investment | 101 | 122 | |
Interest income recognized | 2 | 2 | |
Municipal [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 1 | 1 | |
Recorded investment | 1 | 1 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Average recorded investment | 1 | 1 | |
Interest income recognized | 0 | 0 | |
Commercial Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 587 | 586 | |
Recorded investment | 520 | 495 | |
Impaired Financing Receivable, Related Allowance | 43 | 55 | |
Average recorded investment | 495 | 405 | |
Interest income recognized | 3 | 4 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 20 | 22 | |
Recorded investment | 12 | 13 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Average recorded investment | 13 | 15 | |
Interest income recognized | 0 | 1 | |
Term [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 98 | 92 | |
Recorded investment | 77 | 70 | |
Impaired Financing Receivable, Related Allowance | 2 | 2 | |
Average recorded investment | 68 | 106 | |
Interest income recognized | 2 | 3 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 118 | 114 | |
Recorded investment | 89 | 83 | |
Impaired Financing Receivable, Related Allowance | 2 | 2 | |
Average recorded investment | 81 | 121 | |
Interest income recognized | 2 | 4 | |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 23 | 24 | |
Recorded investment | 21 | 23 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Average recorded investment | 21 | 25 | |
Interest income recognized | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 2,638 | 2,645 | |
Unpaid principal balance | 2 | 2 | |
Recorded investment | 1 | 1 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Average recorded investment | 1 | 2 | |
Interest income recognized | 0 | 0 | |
One Through Four Family Residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 57 | 59 | |
Recorded investment | 54 | 55 | |
Impaired Financing Receivable, Related Allowance | 5 | 6 | |
Average recorded investment | 54 | 63 | |
Interest income recognized | 1 | 1 | |
Construction And Other Consumer Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 3 | 3 | |
Recorded investment | 3 | 3 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Average recorded investment | 3 | 3 | |
Interest income recognized | 0 | 0 | |
Revolving Credit Facility [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Average recorded investment | 0 | 0 | |
Interest income recognized | 0 | 0 | |
Consumer Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 85 | 88 | |
Recorded investment | 79 | 82 | |
Impaired Financing Receivable, Related Allowance | 5 | 6 | |
Average recorded investment | 79 | 93 | |
Interest income recognized | 1 | 1 | |
Impaired Financing Receivable Related Allowance [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 411 | 401 | |
Impaired Financing Receivable Related Allowance [Member] | Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 57 | 30 | |
Impaired Financing Receivable Related Allowance [Member] | Municipal [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 0 | 0 | |
Impaired Financing Receivable Related Allowance [Member] | Commercial Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 342 | 341 | |
Impaired Financing Receivable Related Allowance [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 10 | 6 | |
Impaired Financing Receivable Related Allowance [Member] | Term [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 25 | 17 | |
Impaired Financing Receivable Related Allowance [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 35 | 23 | |
Impaired Financing Receivable Related Allowance [Member] | Home Equity Line of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 6 | 7 | |
Impaired Financing Receivable Related Allowance [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 0 | 0 | |
Impaired Financing Receivable Related Allowance [Member] | One Through Four Family Residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 27 | 28 | |
Impaired Financing Receivable Related Allowance [Member] | Construction And Other Consumer Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 1 | 2 | |
Impaired Financing Receivable Related Allowance [Member] | Consumer Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 34 | 37 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 277 | 259 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 55 | 71 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Municipal [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 1 | 1 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Commercial Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 178 | 154 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 2 | 7 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Term [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 52 | 53 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 54 | 60 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Home Equity Line of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 15 | 16 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 1 | 1 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | One Through Four Family Residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 27 | 27 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Construction And Other Consumer Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 2 | 1 | |
Impaired Financing Receivable Recorded Investment With No Allowance [Member] | Consumer Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 45 | 45 | |
Commercial and Industrial Sector [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Unpaid principal balance | 460 | 470 | |
Recorded investment | 407 | 393 | |
Impaired Financing Receivable, Related Allowance | 40 | 52 | |
Average recorded investment | 393 | 282 | |
Interest income recognized | 1 | $ 2 | |
Commercial and Industrial Sector [Member] | Impaired Financing Receivable Related Allowance [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | 285 | 311 | |
Commercial and Industrial Sector [Member] | Impaired Financing Receivable Recorded Investment With No Allowance [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded investment | $ 122 | $ 82 |
Loans And Allowance For Credit Losses (Summary Of Selected Information On TDRs That Includes Recorded Investment On An Accruing And Nonaccruing Basis By Loan Class And Modification Type) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 18 | $ 7 | $ 129 | $ 180 | ||||||
1-4 family residential | 6,185 | 6,185 | $ 5,891 | |||||||
Construction and other consumer real estate | 517 | 517 | 486 | |||||||
Commercial and industrial | 13,368 | 13,368 | 13,452 | |||||||
Home equity credit line | 2,638 | 2,638 | 2,645 | |||||||
Bankcard and other revolving plans | 459 | 459 | 481 | |||||||
Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 14 | 3 | ||||||||
Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 4 | ||||||||
Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 16 | 7 | ||||||||
Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||||||||
Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||||||||
Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 6,185 | 6,185 | 5,891 | |||||||
Construction and other consumer real estate | 517 | 517 | 486 | |||||||
Home equity credit line | 2,638 | 2,638 | 2,645 | |||||||
Bankcard and other revolving plans | 459 | 459 | 481 | |||||||
Accruing [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||||||||
Recorded investment resulting from the following modification types | 167 | 167 | 151 | |||||||
Accruing [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||||||||
Commercial and industrial | 66 | 66 | 47 | |||||||
Accruing [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||||||||
Recorded investment resulting from the following modification types | 21 | 21 | 22 | |||||||
Accruing [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||||||||
Recorded investment resulting from the following modification types | 87 | 87 | 69 | |||||||
Accruing [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 5 | 5 | 8 | |||||||
Accruing [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||||||||
Recorded investment resulting from the following modification types | 18 | 18 | 17 | |||||||
Accruing [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||||||||
Recorded investment resulting from the following modification types | 23 | 23 | 25 | |||||||
Accruing [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 15 | 15 | 14 | |||||||
Accruing [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 40 | 40 | 42 | |||||||
Accruing [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 2 | 2 | 1 | |||||||
Accruing [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 57 | 57 | 57 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 8 | 8 | 10 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | 1 | 1 | 0 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 3 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 2 | 2 | 3 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 5 | 5 | 4 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 5 | 5 | 4 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 0 | 0 | 0 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 1 | 1 | 3 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 0 | 0 | 0 | |||||||
Accruing [Member] | Interest Rate Below Market [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 3 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 36 | 36 | 25 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | 29 | 29 | 19 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 29 | 29 | 19 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 3 | 3 | 4 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 3 | 3 | 4 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 2 | 2 | 1 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 1 | 1 | 1 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 1 | 1 | 0 | |||||||
Accruing [Member] | Maturity Or Team Extension [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 4 | 4 | 2 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 18 | 18 | 17 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | 0 | 0 | 0 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 10 | 10 | 10 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 7 | 7 | 6 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 0 | 0 | 0 | |||||||
Accruing [Member] | Principal Forgiveness [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 17 | 17 | 16 | |||||||
Accruing [Member] | Payment Deferral [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Accruing [Member] | Payment Deferral [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | 0 | 0 | 0 | |||||||
Accruing [Member] | Payment Deferral [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Payment Deferral [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Payment Deferral [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Payment Deferral [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Accruing [Member] | Payment Deferral [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Accruing [Member] | Payment Deferral [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 0 | 0 | 0 | |||||||
Accruing [Member] | Payment Deferral [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 0 | 0 | 0 | |||||||
Accruing [Member] | Payment Deferral [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 0 | 0 | 0 | |||||||
Accruing [Member] | Payment Deferral [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 12 | 12 | 12 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | [1] | 0 | 0 | 0 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 8 | 8 | 8 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 8 | 8 | 8 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 0 | 0 | 0 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 2 | 2 | 2 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 2 | 2 | 2 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | [1] | 0 | 0 | 0 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | [1] | 2 | 2 | 2 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | [1] | 0 | 0 | 0 | ||||||
Accruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 2 | 2 | 2 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 92 | 92 | 86 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | [2] | 36 | 36 | 28 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 11 | 11 | 10 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 47 | 47 | 38 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 2 | 2 | 4 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 10 | 10 | 10 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 12 | 12 | 14 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | [2] | 3 | 3 | 3 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | [2] | 29 | 29 | 30 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | [2] | 1 | 1 | 1 | ||||||
Accruing [Member] | Multiple Modification Types [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 33 | 33 | 34 | ||||||
Nonaccruing [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 18 | 3 | ||||||||
Recorded investment resulting from the following modification types | 298 | 298 | 251 | |||||||
Nonaccruing [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 14 | 3 | ||||||||
Commercial and industrial | 91 | 91 | 60 | |||||||
Nonaccruing [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||||||||
Recorded investment resulting from the following modification types | 18 | 18 | 17 | |||||||
Nonaccruing [Member] | Municipal [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Nonaccruing [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 16 | 3 | ||||||||
Recorded investment resulting from the following modification types | 110 | 110 | 78 | |||||||
Nonaccruing [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 2 | 2 | 2 | |||||||
Nonaccruing [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||||||||
Recorded investment resulting from the following modification types | 8 | 8 | 8 | |||||||
Nonaccruing [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | $ 0 | ||||||||
Recorded investment resulting from the following modification types | 10 | 10 | 10 | |||||||
Nonaccruing [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 1 | 1 | 2 | |||||||
Nonaccruing [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 9 | 9 | 8 | |||||||
Nonaccruing [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 1 | 1 | 2 | |||||||
Nonaccruing [Member] | Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 11 | 11 | 12 | |||||||
Nonaccruing [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 131 | 131 | 100 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 15 | 15 | 13 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | 4 | 4 | 1 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 0 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Municipal [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 5 | 5 | 1 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 2 | 2 | 2 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 2 | 2 | 2 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Interest Rate Below Market [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 7 | 7 | 3 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 41 | 41 | 28 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 2 | 2 | 1 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Municipal [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 3 | 3 | 2 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 1 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 1 | 1 | 0 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 0 | |||||||
Nonaccruing [Member] | Maturity Or Team Extension [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 5 | 5 | 3 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 35 | 35 | 20 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | 14 | 14 | 0 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Municipal [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 14 | 14 | 0 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 1 | 1 | 1 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 2 | 2 | 2 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 3 | 3 | 3 | |||||||
Nonaccruing [Member] | Principal Forgiveness [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 17 | 17 | 3 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 4 | 4 | 7 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | 1 | 1 | 1 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 3 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Municipal [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 2 | 2 | 4 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | 1 | 1 | 2 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 1 | 1 | 2 | |||||||
Nonaccruing [Member] | Payment Deferral [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 3 | 3 | 6 | |||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 72 | 72 | 51 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | [1] | 53 | 53 | 33 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 2 | 2 | 1 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Municipal [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 55 | 55 | 34 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 2 | 2 | 2 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 2 | 2 | 2 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 4 | 4 | 4 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | [1] | 0 | 0 | 0 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | [1] | 1 | 1 | 1 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | [1] | 0 | 0 | 0 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 1 | 1 | 1 | ||||||
Nonaccruing [Member] | Other Recorded Investment Resulting From Following Modification [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [1] | 60 | 60 | 39 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 131 | 131 | 132 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Commercial and industrial | [2] | 19 | 19 | 25 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Owner Occupied [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 12 | 12 | 12 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Municipal [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | 0 | 0 | 0 | |||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Commercial Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 31 | 31 | 37 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 0 | 0 | 0 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Term [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 3 | 3 | 3 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 3 | 3 | 3 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Home Equity Credit Line [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Home equity credit line | [2] | 0 | 0 | 1 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | One Through Four Family Residential [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
1-4 family residential | [2] | 5 | 5 | 5 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Construction And Other Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Construction and other consumer real estate | [2] | 0 | 0 | 0 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | 5 | 5 | 6 | ||||||
Nonaccruing [Member] | Multiple Modification Types [Member] | Consumer Loan [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Recorded investment resulting from the following modification types | [2] | $ 39 | $ 39 | $ 46 | ||||||
|
Loans And Allowance For Credit Losses (Summary Of Net Financial Impact On Interest Income Due To Interest Rate Modifications Below Market For Accruing TDR Loans) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
|
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 18 | $ 7 | $ 129 | $ 180 | |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 2,638 | 2,638 | $ 2,645 | ||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 2,638 | $ 2,638 | $ 2,645 | ||
Owner Occupied [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 4 | |||
Commercial Loan [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 16 | 7 | |||
Term [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | |||
Commercial Real Estate [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | |||
Nonaccruing [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 18 | 3 | |||
Nonaccruing [Member] | Owner Occupied [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | |||
Nonaccruing [Member] | Commercial Loan [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 16 | 3 | |||
Nonaccruing [Member] | Term [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | |||
Nonaccruing [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | |||
Accruing [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | |||
Accruing [Member] | Owner Occupied [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | |||
Accruing [Member] | Commercial Loan [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | |||
Accruing [Member] | Term [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | |||
Accruing [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Loans And Allowance For Credit Losses (Schedule Of Investment Of Accruing And Nonaccruing Loans Modified As Troubled Debt Restructurings) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Mar. 31, 2017 |
Mar. 31, 2016 |
|
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 18 | $ 7 | $ 129 | $ 180 |
Accruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||
Nonaccruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 18 | 3 | ||
Commercial And Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 14 | 3 | ||
Commercial And Industrial [Member] | Accruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||
Commercial And Industrial [Member] | Nonaccruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 14 | 3 | ||
Owner Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 4 | ||
Owner Occupied [Member] | Accruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||
Owner Occupied [Member] | Nonaccruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||
Commercial Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 16 | 7 | ||
Commercial Loan [Member] | Accruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 4 | ||
Commercial Loan [Member] | Nonaccruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 16 | 3 | ||
Term [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||
Term [Member] | Accruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||
Term [Member] | Nonaccruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2 | 0 | ||
Commercial Real Estate [Member] | Accruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ||
Commercial Real Estate [Member] | Nonaccruing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2 | $ 0 |
Loans And Allowance For Credit Losses (Schedule Of Outstanding Balances Of All Required Payments And The Related Carrying Amounts For PCI Loans) (Details) - USD ($) $ in Millions |
Mar. 31, 2017 |
Dec. 31, 2016 |
|||
---|---|---|---|---|---|
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | $ 389 | $ 309 | |||
Financing Receivable, Recorded Investment, Current | 42,353 | 42,340 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 197 | 150 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 192 | 159 | |||
Loans and Leases Receivable, Gross | 42,742 | 42,649 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 30 | 36 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 331 | 381 | ||
Commercial | 44 | 49 | |||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Commercial Real Estate | 47 | 51 | |||
Consumer | 8 | 9 | |||
Outstanding balance | 99 | 109 | |||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Carrying Amount, Net | 70 | 77 | |||
ALLL | 1 | 1 | |||
Carrying amount, net | 69 | 76 | |||
loans held for sale [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 15 | ||||
Financing Receivable, Recorded Investment, Current | 113 | ||||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 15 | ||||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 0 | 0 | |||
Loans and Leases Receivable, Gross | 128 | ||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 19 | |||
Finance Leases Portfolio Segment [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 3 | 0 | |||
Financing Receivable, Recorded Investment, Current | 401 | 423 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 2 | 0 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 1 | 0 | |||
Loans and Leases Receivable, Gross | 404 | 423 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 11 | 14 | ||
Owner Occupied [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 93 | 68 | |||
Financing Receivable, Recorded Investment, Current | 6,880 | 6,894 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 59 | 40 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 34 | 28 | |||
Loans and Leases Receivable, Gross | 6,973 | 6,962 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3 | 8 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 35 | 43 | ||
Municipal [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |||
Financing Receivable, Recorded Investment, Current | 811 | 778 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 0 | 0 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 0 | 0 | |||
Loans and Leases Receivable, Gross | 811 | 778 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 1 | 1 | ||
Commercial Loan [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 288 | 214 | |||
Financing Receivable, Recorded Investment, Current | 21,268 | 21,401 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 155 | 112 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 133 | 102 | |||
Loans and Leases Receivable, Gross | 21,556 | 21,615 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 12 | 18 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 292 | 345 | ||
Commercial Real Estate [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 10 | 9 | |||
Financing Receivable, Recorded Investment, Current | 2,113 | 2,010 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 3 | 7 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 7 | 2 | |||
Loans and Leases Receivable, Gross | 2,123 | 2,019 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 1 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 0 | 1 | ||
Term [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 36 | 31 | |||
Financing Receivable, Recorded Investment, Current | 9,047 | 9,291 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 11 | 9 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 25 | 22 | |||
Loans and Leases Receivable, Gross | 9,083 | 9,322 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 14 | 12 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 24 | 18 | ||
Commercial Real Estate [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 46 | 40 | |||
Financing Receivable, Recorded Investment, Current | 11,160 | 11,301 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 14 | 16 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 32 | 24 | |||
Loans and Leases Receivable, Gross | 11,206 | 11,341 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 14 | 13 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 24 | 19 | ||
Home Equity Line of Credit [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 12 | 10 | |||
Financing Receivable, Recorded Investment, Current | 2,626 | 2,635 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 7 | 4 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 5 | 6 | |||
Loans and Leases Receivable, Gross | 2,638 | 2,645 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 2 | 1 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 4 | 5 | ||
One Through Four Family Residential [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 29 | 34 | |||
Financing Receivable, Recorded Investment, Current | 6,156 | 5,857 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 11 | 12 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 18 | 22 | |||
Loans and Leases Receivable, Gross | 6,185 | 5,891 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 11 | 11 | ||
Construction And Other Consumer Real Estate [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 8 | 7 | |||
Financing Receivable, Recorded Investment, Current | 509 | 479 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 6 | 3 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 2 | 4 | |||
Loans and Leases Receivable, Gross | 517 | 486 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1 | 3 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 0 | 0 | ||
Revolving Credit Facility [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 5 | 3 | |||
Financing Receivable, Recorded Investment, Current | 454 | 478 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 3 | 2 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 2 | 1 | |||
Loans and Leases Receivable, Gross | 459 | 481 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1 | 1 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 0 | 1 | ||
Consumer Portfolio Segment [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 1 | 1 | |||
Financing Receivable, Recorded Investment, Current | 180 | 189 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 1 | 1 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 0 | 0 | |||
Loans and Leases Receivable, Gross | 181 | 190 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 0 | 0 | ||
Consumer Loan [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 55 | 55 | |||
Financing Receivable, Recorded Investment, Current | 9,925 | 9,638 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 28 | 22 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 27 | 33 | |||
Loans and Leases Receivable, Gross | 9,980 | 9,693 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 4 | 5 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 15 | 17 | ||
Commercial and Industrial Sector [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Past Due | 192 | 146 | |||
Financing Receivable, Recorded Investment, Current | 13,176 | 13,306 | |||
Financing Receivable Recorded Investment Thirty To Eighty Nine Days Past Due | 94 | 72 | |||
Financing Receivable Recorded Investments, Equal To and Greater Than 90 Days Past Due | 98 | 74 | |||
Loans and Leases Receivable, Gross | 13,368 | 13,452 | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 9 | 10 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 358 | 354 | |||
Commercial and Industrial Sector [Member] | Commercial And Industrial [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | $ 245 | $ 287 | ||
|
Loans And Allowance For Credit Losses (Schedule Of Changes In The Accretable Yield For PCI Loans) (Details) - USD ($) $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Loans And Allowance For Credit Losses [Abstract] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | $ (4) | $ (6) | ||
Changes in Accretable Yield [Roll Forward] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | 32 | 43 | $ 33 | $ 40 |
Disposals and other | 1 | 1 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference | $ 2 | $ 8 |
Derivative Instruments And Hedging Activities (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
||||
Derivative [Line Items] | ||||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ (2) | $ 21 | ||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 2 | 3 | ||||
Fair values of derivative assets reduced (increased) by net credit valuation adjustments | 2 | 5 | ||||
Total derivatives, Notional amount | 6,133 | $ 6,209 | ||||
Cash collateral pledged for derivative liabilities | 37 | |||||
Additional collateral that would be required to be pledge if credit rating was downgraded by one notch | 1 | |||||
Derivative Instrument, Noninterest Income (Expense) | 4 | 2 | ||||
Derivatives Designated As Hedging Instrument Offset To Interest Expense | 0 | 0 | ||||
Derivative Credit Risk Valuation Adjustment, Derivative Liabilities | 1 | 1 | ||||
Derivatives Designated As Hedging Instruments [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | (2) | 21 | ||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 2 | [1] | 3 | |||
Total derivatives, Notional amount | 1,388 | 1,388 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 4,745 | 4,821 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 201 | 235 | ||||
Derivative Instrument, Noninterest Income (Expense) | (1) | 0 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swaps For Customers [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 4,106 | 4,162 | ||||
Derivative Instrument, Noninterest Income (Expense) | 1 | 0 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 438 | 424 | ||||
Derivative Instrument, Noninterest Income (Expense) | 4 | $ 2 | ||||
Other Liabilities [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Liability, Fair Value, Gross Liability | 56 | 59 | ||||
Other Liabilities [Member] | Derivatives Designated As Hedging Instruments [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Liability, Fair Value, Gross Liability | 3 | 1 | ||||
Other Liabilities [Member] | Derivatives Not Designated As Hedging Instruments [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Liability, Fair Value, Gross Liability | 53 | 58 | ||||
Other Liabilities [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Liability, Fair Value, Gross Liability | 1 | 0 | ||||
Other Liabilities [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swaps For Customers [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Liability, Fair Value, Gross Liability | 45 | 49 | ||||
Other Liabilities [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Liability, Fair Value, Gross Liability | 7 | 9 | ||||
Other Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | ||||||
Derivative [Line Items] | ||||||
Gross amounts recognized | $ 56 | $ 59 | ||||
|
Derivative Instruments And Hedging Activities (Schedule Of Notional Amounts And Recorded Gross Fair Values And Related Gain (Loss) Of Derivative Instruments) (Details) - USD ($) $ in Millions |
3 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | $ 6,133 | $ 6,209 | ||||
Amount of derivative gain (loss), recognized in OCI | (2) | $ 21 | ||||
Amount of derivative gain (loss), Reclassified from AOCI to interest income | 2 | 3 | ||||
Derivatives instruments, Noninterest income (expense) | 4 | 2 | ||||
Derivatives designated as hedging instruments, Offset to interest expense | 0 | 0 | ||||
Other Assets [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, assets | 55 | 64 | ||||
Other Liabilities [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, liabilities | 56 | 59 | ||||
Derivatives Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 1,388 | 1,388 | ||||
Amount of derivative gain (loss), recognized in OCI | (2) | 21 | ||||
Amount of derivative gain (loss), Reclassified from AOCI to interest income | 2 | [1] | 3 | |||
Derivatives Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member] | Other Assets [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, assets | 1 | 2 | ||||
Derivatives Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member] | Other Liabilities [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, liabilities | 3 | 1 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 4,745 | 4,821 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Other Assets [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, assets | 54 | 62 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Other Liabilities [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, liabilities | 53 | 58 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 438 | 424 | ||||
Derivatives instruments, Noninterest income (expense) | 4 | 2 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange [Member] | Other Assets [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, assets | 9 | 11 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange [Member] | Other Liabilities [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, liabilities | 7 | 9 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 201 | 235 | ||||
Derivatives instruments, Noninterest income (expense) | (1) | 0 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member] | Other Assets [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, assets | 1 | 2 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member] | Other Liabilities [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, liabilities | 1 | 0 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swaps For Customers [Member] | ||||||
Derivative [Line Items] | ||||||
Total derivatives, Notional amount | 4,106 | 4,162 | ||||
Derivatives instruments, Noninterest income (expense) | 1 | $ 0 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swaps For Customers [Member] | Other Assets [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, assets | 44 | 49 | ||||
Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swaps For Customers [Member] | Other Liabilities [Member] | ||||||
Derivative [Line Items] | ||||||
Derivatives hedging instruments, liabilities | $ 45 | $ 49 | ||||
|
Debt And Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 |
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt And Shareholders' Equity [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | Long-term debt is summarized as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | $ 247,000,000 | $ 247,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 12,000,000 | $ 45,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 1,000,000 | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Notes | 135,000,000 | 287,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Lease Obligations | 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 383,000,000 | 535,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Repurchased During Period, Shares | 1,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Repurchased and Retired During Period, Value | $ 45,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 42.43 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury Stock Acquired, Repurchase Authorization | 45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (111,000,000) | (12,000,000) | $ (122,000,000) | $ (55,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments of Long-term Debt | 153,000,000 | $ 11,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments of Long-term Debt | $ 153,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Tender Offer | $ 144,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends, Preferred Stock, Cash | 0.49375 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends, Preferred Stock, Cash | $ 3,000,000 |
Debt And Shareholders' Equity (Schedule Of Changes In Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
Debt And Shareholders' Equity [Line Items] | ||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | $ 7 | $ 20 |
Interest income expense, net, after tax | 129 | 79 |
Income Tax Expense (Benefit) | 45 | 41 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 12 | 45 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (1) | (2) |
Beginning balance | (122) | (55) |
Other comprehensive income (loss) | 11 | 43 |
Ending balance | (111) | (12) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | (1) | 7 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | 0 | 1 |
Other Comprehensive Income (Loss), Tax | 6 | 28 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||
Debt And Shareholders' Equity [Line Items] | ||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 12 | 32 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 |
Beginning balance | (93) | (18) |
Other comprehensive income (loss) | 12 | 32 |
Ending balance | (81) | 14 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ||
Debt And Shareholders' Equity [Line Items] | ||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | 14 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (1) | (2) |
Beginning balance | 2 | 1 |
Other comprehensive income (loss) | (1) | 12 |
Ending balance | 1 | 13 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||
Debt And Shareholders' Equity [Line Items] | ||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | (1) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 |
Beginning balance | (31) | (38) |
Other comprehensive income (loss) | 0 | (1) |
Ending balance | (31) | (39) |
Interest Rate Contract [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ||
Debt And Shareholders' Equity [Line Items] | ||
Gain (Loss) on Derivative Instruments, Net, Pretax | 2 | 3 |
Interest income expense, net, after tax | 1 | 2 |
Income Tax Expense (Benefit) | $ 1 | $ 1 |
Debt And Shareholders' Equity Schedule of Long-Term Debt Instruments (Details) - USD ($) $ in Millions |
Mar. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Debt Instrument [Line Items] | ||
Subordinated Debt | $ 247 | $ 247 |
Senior Notes | 135 | 287 |
Capital Lease Obligations | 1 | 1 |
Long-term Debt, Gross | $ 383 | $ 535 |
Commitments, Guarantees, And Contingent Liabilities (Narrative) (Details) $ in Millions |
Mar. 31, 2017
USD ($)
|
---|---|
Guarantor Obligations [Line Items] | |
Letters of credit, accrued liability | $ 5 |
Reserve for unfunded lending commitments | 2 |
Deferred commitment fees | 3 |
Commitments for Private Equity and Other Noninterest-bearing Investments | 24 |
Commitments for Private Equity or Other Non-Interest Bearing Investments Prohibited by the Volcker Rule | 3 |
Minimum [Member] | |
Guarantor Obligations [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 0 |
Maximum [Member] | |
Guarantor Obligations [Line Items] | |
Loss Contingency, Estimate of Possible Loss | $ 20 |
Commitments, Guarantees, And Contingent Liabilities (Schedule Of Guarantees Issued) (Details) - USD ($) $ in Millions |
Mar. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Liabilities for Guarantees on Long-Duration Contracts [Line Items] | ||
Unused Commitments to Extend Credit | $ 18,467 | $ 18,274 |
Commercial Letters Of Credit | 77 | 60 |
Total Unfunded Lending Commitments | 19,436 | 19,301 |
Financial [Member] | ||
Liabilities for Guarantees on Long-Duration Contracts [Line Items] | ||
Standby letters of credit | 701 | 771 |
Performance [Member] | ||
Liabilities for Guarantees on Long-Duration Contracts [Line Items] | ||
Standby letters of credit | 191 | $ 196 |
Minimum [Member] | ||
Liabilities for Guarantees on Long-Duration Contracts [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | 0 | |
Maximum [Member] | ||
Liabilities for Guarantees on Long-Duration Contracts [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | $ 20 |
Retirement Plans (Schedule Of Net Periodic Benefit Cost (Credit) For Pension And Postretirement Plans) (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | $ 2 | $ 2 |
Expected return on plan assets | (3) | (3) |
Amortization of net actuarial (gain) loss | 1 | 2 |
Net periodic benefit cost (credit) | 1 | 1 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | $ 1 | $ 0 |
Retirement Plans Retirement Plans (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | $ (1) | $ 0 |
Income Taxes (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
|
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation, Percent | 24.50% | 31.10% | |
Current State and Local Tax Expense (Benefit) | $ 14 | ||
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle | 4 | ||
Deferred Tax Assets, Net | $ 231 | $ 250 | |
Operating Loss Carryforwards, Valuation Allowance | $ 4 |
Operating Segment Information (Details) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2017
USD ($)
Branches
|
Mar. 31, 2016
USD ($)
|
|
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | $ 489 | $ 453 |
Provision for Loan and Lease Losses | 23 | 42 |
Interest Income (Expense), after Provision for Loan Loss | 466 | 411 |
Noninterest Income, Other Operating Income | 0 | 0 |
Noninterest Expense | 414 | 396 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 184 | 132 |
Zions Bank [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | 155 | 150 |
Provision for Loan and Lease Losses | 35 | (31) |
Interest Income (Expense), after Provision for Loan Loss | 120 | 181 |
Noninterest Income, Other Operating Income | 35 | 36 |
Noninterest Expense | 113 | 105 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 42 | 112 |
Average Loans And Leases | 12,488 | 12,306 |
Average Deposits | 16,268 | 15,700 |
Amegy [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | 114 | 113 |
Provision for Loan and Lease Losses | 1 | 104 |
Interest Income (Expense), after Provision for Loan Loss | 113 | 9 |
Noninterest Income, Other Operating Income | 29 | 29 |
Noninterest Expense | 85 | 86 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 57 | (48) |
Average Loans And Leases | 10,637 | 10,370 |
Average Deposits | $ 11,318 | 11,274 |
Number of Branches | Branches | 74 | |
California Bank Trust [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | $ 110 | 103 |
Provision for Loan and Lease Losses | (5) | (3) |
Interest Income (Expense), after Provision for Loan Loss | 115 | 106 |
Noninterest Income, Other Operating Income | 17 | 16 |
Noninterest Expense | 75 | 72 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 57 | 50 |
Average Loans And Leases | 9,306 | 8,905 |
Average Deposits | $ 10,921 | 10,479 |
Number of Branches | Branches | 93 | |
NBA [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | $ 50 | 45 |
Provision for Loan and Lease Losses | 1 | 2 |
Interest Income (Expense), after Provision for Loan Loss | 49 | 43 |
Noninterest Income, Other Operating Income | 9 | 10 |
Noninterest Expense | 37 | 35 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 21 | 18 |
Average Loans And Leases | 4,262 | 3,863 |
Average Deposits | $ 4,661 | 4,445 |
Number of Branches | Branches | 58 | |
Nevada State Bank [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | $ 32 | 30 |
Provision for Loan and Lease Losses | (4) | (26) |
Interest Income (Expense), after Provision for Loan Loss | 36 | 56 |
Noninterest Income, Other Operating Income | 10 | 9 |
Noninterest Expense | 35 | 33 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 11 | 32 |
Average Loans And Leases | 2,338 | 2,263 |
Average Deposits | $ 4,211 | 4,011 |
Number of Branches | Branches | 50 | |
Vectra Bank Colorado [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | $ 30 | 30 |
Provision for Loan and Lease Losses | (3) | (3) |
Interest Income (Expense), after Provision for Loan Loss | 33 | 33 |
Noninterest Income, Other Operating Income | 6 | 6 |
Noninterest Expense | 25 | 23 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 14 | 16 |
Average Loans And Leases | 2,535 | 2,453 |
Average Deposits | 2,791 | 2,783 |
TCBW [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | 11 | 9 |
Provision for Loan and Lease Losses | (1) | (2) |
Interest Income (Expense), after Provision for Loan Loss | 12 | 11 |
Noninterest Income, Other Operating Income | 1 | 1 |
Noninterest Expense | 5 | 5 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 8 | 7 |
Average Loans And Leases | 877 | 733 |
Average Deposits | 1,100 | 953 |
Other Segment [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | (13) | (27) |
Provision for Loan and Lease Losses | (1) | 1 |
Interest Income (Expense), after Provision for Loan Loss | (12) | (28) |
Noninterest Income, Other Operating Income | 25 | 10 |
Noninterest Expense | 39 | 37 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | (26) | (55) |
Average Loans And Leases | 123 | 110 |
Average Deposits | $ 942 | (90) |
Utah [Member] | Zions Bank [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of Branches | Branches | 98 | |
Idaho [Member] | Zions Bank [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of Branches | Branches | 23 | |
WYOMING | Zions Bank [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of Branches | Branches | 1 | |
Colorado [Member] | Vectra Bank Colorado [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of Branches | Branches | 36 | |
New Mexico [Member] | Vectra Bank Colorado [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of Branches | Branches | 1 | |
WASHINGTON | TCBW [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of Branches | Branches | 1 | |
OREGON | TCBW [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of Branches | Branches | 1 | |
Consolidated Entities [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest Income (Expense), Net | $ 489 | 453 |
Provision for Loan and Lease Losses | 23 | 42 |
Interest Income (Expense), after Provision for Loan Loss | 466 | 411 |
Noninterest Income, Other Operating Income | 132 | 117 |
Noninterest Expense | 414 | 396 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 184 | 132 |
Average Loans And Leases | 42,566 | 41,003 |
Average Deposits | $ 52,212 | $ 49,555 |
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