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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
Schedule of composition of loan portfolio
The following table presents the composition of the loan portfolio.
 
March 31, 2018
 
December 31, 2017
 
(In Thousands)
Commercial loans:
 
 
 
Commercial, financial and agricultural
$
26,359,127

 
$
25,749,949

Real estate – construction
2,156,856

 
2,273,539

Commercial real estate – mortgage
11,528,287

 
11,724,158

Total commercial loans
40,044,270

 
39,747,646

Consumer loans:
 
 
 
Residential real estate – mortgage
13,306,987

 
13,365,747

Equity lines of credit
2,657,860

 
2,653,105

Equity loans
344,537

 
363,264

Credit card
657,030

 
639,517

Consumer direct
1,856,443

 
1,690,383

Consumer indirect
3,340,734

 
3,164,106

Total consumer loans
22,163,591

 
21,876,122

Total loans
$
62,207,861

 
$
61,623,768
Disclosure of activity in allowance for loan losses during year
The following table, which excludes loans held for sale, presents a summary of the activity in the allowance for loan losses. The portion of the allowance that has not been identified by the Company as related to specific loan categories has been allocated to the individual loan categories on a pro rata basis for purposes of the table below:
 
Commercial, Financial and Agricultural
 
Commercial Real Estate (1)
 
Residential Real Estate (2)
 
Consumer (3)
 
Covered
 
Total
 
(In Thousands)
Three months ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
420,635

 
$
118,133

 
$
109,856

 
$
194,136

 
$
—

 
$
842,760

Provision (credit) for loan losses
(14,097
)
 
3,667

 
(2,531
)
 
69,990

 
—

 
57,029

Loans charged-off
(10,132
)
 
(203
)
 
(4,582
)
 
(68,384
)
 
—

 
(83,301
)
Loan recoveries
1,737

 
178

 
3,111

 
10,557

 
—

 
15,583

Net (charge-offs) recoveries
(8,395
)
 
(25
)
 
(1,471
)
 
(57,827
)
 
—

 
(67,718
)
Ending balance
$
398,143

 
$
121,775

 
$
105,854

 
$
206,299

 
$
—

 
$
832,071

Three months ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
458,580

 
$
116,937

 
$
119,484

 
$
143,292

 
$
—

 
$
838,293

Provision (credit) for loan losses
40,045

 
(3,128
)
 
(330
)
 
43,583

 
(31
)
 
80,139

Loans charged-off
(42,908
)
 
(114
)
 
(6,338
)
 
(52,828
)
 
—

 
(102,188
)
Loan recoveries
3,497

 
912

 
3,129

 
10,293

 
31

 
17,862

Net (charge-offs) recoveries
(39,411
)
 
798

 
(3,209
)
 
(42,535
)
 
31

 
(84,326
)
Ending balance
$
459,214

 
$
114,607

 
$
115,945

 
$
144,340

 
$
—

 
$
834,106

(1)
Includes commercial real estate – mortgage and real estate – construction loans.
(2)
Includes residential real estate – mortgage, equity lines of credit and equity loans.
(3)
Includes credit card, consumer direct and consumer indirect loans.
The table below provides a summary of the allowance for loan losses and related loan balances by portfolio.
 
Commercial, Financial and Agricultural
 
Commercial Real Estate (1)
 
Residential Real Estate (2)
 
Consumer (3)
 
Total
 
(In Thousands)
March 31, 2018
 
 
 
 
 
 
 
 
 
Ending balance of allowance attributable to loans:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
52,896

 
$
11,568

 
$
27,916

 
$
2,817

 
$
95,197

Collectively evaluated for impairment
345,247

 
110,207

 
77,938

 
203,482

 
736,874

Total allowance for loan losses
$
398,143

 
$
121,775

 
$
105,854

 
$
206,299

 
$
832,071

Ending balance of loans:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
256,162

 
$
96,297

 
$
161,299

 
$
3,325

 
$
517,083

Collectively evaluated for impairment
26,102,965

 
13,588,846

 
16,148,085

 
5,850,882

 
61,690,778

Total loans
$
26,359,127

 
$
13,685,143

 
$
16,309,384

 
$
5,854,207

 
$
62,207,861

 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
Ending balance of allowance attributable to loans:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
61,705

 
$
9,864

 
$
30,613

 
$
2,203

 
$
104,385

Collectively evaluated for impairment
358,930

 
108,269

 
79,243

 
191,933

 
738,375

Total allowance for loan losses
$
420,635

 
$
118,133

 
$
109,856

 
$
194,136

 
$
842,760

Ending balance of loans:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
307,680

 
$
85,180

 
$
172,857

 
$
3,577

 
$
569,294

Collectively evaluated for impairment
25,442,269

 
13,912,517

 
16,209,259

 
5,490,429

 
61,054,474

Total loans
$
25,749,949

 
$
13,997,697

 
$
16,382,116

 
$
5,494,006

 
$
61,623,768

(1)
Includes commercial real estate – mortgage and real estate – construction loans.
(2)
Includes residential real estate – mortgage, equity lines of credit and equity loans.
(3)
Includes credit card, consumer direct and consumer indirect loans.
Schedule of impaired financing receivables
The following tables present information on individually evaluated impaired loans, by loan class.
 
March 31, 2018
 
Individually Evaluated Impaired Loans With No Recorded Allowance
 
Individually Evaluated Impaired Loans With a Recorded Allowance
 
Recorded Investment
 
Unpaid Principal Balance
 
Allowance
 
Recorded Investment
 
Unpaid Principal Balance
 
Allowance
 
(In Thousands)
Commercial, financial and agricultural
$
145,794

 
$
181,112

 
$
—

 
$
110,368

 
$
127,306

 
$
52,896

Real estate – construction
2,797

 
2,835

 
—

 
9,157

 
9,157

 
1,584

Commercial real estate – mortgage
35,675

 
37,261

 
—

 
48,668

 
56,974

 
9,984

Residential real estate – mortgage
—

 
—

 
—

 
107,217

 
107,217

 
8,434

Equity lines of credit
—

 
—

 
—

 
18,410

 
18,415

 
15,383

Equity loans
—

 
—

 
—

 
35,672

 
36,560

 
4,099

Credit card
—

 
—

 
—

 
—

 
—

 
—

Consumer direct
—

 
—

 
—

 
2,499

 
2,499

 
2,036

Consumer indirect
—

 
—

 
—

 
826

 
826

 
781

Total loans
$
184,266

 
$
221,208

 
$
—

 
$
332,817

 
$
358,954

 
$
95,197

 
December 31, 2017
 
Individually Evaluated Impaired Loans With No Recorded Allowance
 
Individually Evaluated Impaired Loans With a Recorded Allowance
 
Recorded Investment
 
Unpaid Principal Balance
 
Allowance
 
Recorded Investment
 
Unpaid Principal Balance
 
Allowance
 
(In Thousands)
Commercial, financial and agricultural
$
142,908

 
$
175,743

 
$
—

 
$
164,772

 
$
175,512

 
$
61,705

Real estate – construction
2,849

 
2,858

 
—

 
130

 
130

 
7

Commercial real estate – mortgage
35,140

 
36,415

 
—

 
47,061

 
55,122

 
9,857

Residential real estate – mortgage
—

 
—

 
—

 
117,751

 
117,751

 
10,214

Equity lines of credit
—

 
—

 
—

 
19,183

 
19,188

 
16,021

Equity loans
—

 
—

 
—

 
35,923

 
36,765

 
4,378

Credit card
—

 
—

 
—

 
—

 
—

 
—

Consumer direct
—

 
—

 
—

 
2,545

 
2,545

 
1,254

Consumer indirect
—

 
—

 
—

 
1,032

 
1,032

 
949

Total loans
$
180,897

 
$
215,016

 
$
—

 
$
388,397

 
$
408,045

 
$
104,385

The following table presents information on individually evaluated impaired loans, by loan class.
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
 
Average Recorded Investment
 
Interest Income Recognized
 
Average Recorded Investment
 
Interest Income Recognized
 
(In Thousands)
Commercial, financial and agricultural
$
256,249

 
$
136

 
$
598,126

 
$
404

Real estate – construction
5,978

 
2

 
334

 
2

Commercial real estate – mortgage
83,733

 
211

 
49,265

 
284

Residential real estate – mortgage
111,057

 
680

 
116,979

 
646

Equity lines of credit
18,756

 
194

 
23,338

 
229

Equity loans
35,701

 
303

 
40,570

 
344

Credit card
—

 
—

 
—

 
—

Consumer direct
3,851

 
11

 
707

 
6

Consumer indirect
897

 
2

 
2,064

 
3

Total loans
$
516,222

 
$
1,539

 
$
831,383

 
$
1,918
Schedule of credit quality indicators associated with the Company's loans
The following tables, which exclude loans held for sale, illustrate the credit quality indicators associated with the Company’s loans, by loan class.
 
Commercial
 
March 31, 2018
 
Commercial, Financial and Agricultural
 
Real Estate - Construction
 
Commercial Real Estate - Mortgage
 
(In Thousands)
Pass
$
25,012,256

 
$
2,133,741

 
$
11,143,691

Special Mention
561,816

 
7,288

 
167,165

Substandard
664,839

 
15,827

 
202,099

Doubtful
120,216

 
—

 
15,332

 
$
26,359,127

 
$
2,156,856

 
$
11,528,287

 
December 31, 2017
 
Commercial, Financial and Agricultural
 
Real Estate - Construction
 
Commercial Real Estate - Mortgage
 
(In Thousands)
Pass
$
24,387,737

 
$
2,257,659

 
$
11,309,484

Special Mention
614,006

 
12,401

 
215,076

Substandard
623,672

 
3,479

 
187,049

Doubtful
124,534

 
—

 
12,549

 
$
25,749,949

 
$
2,273,539

 
$
11,724,158

 
Consumer
 
March 31, 2018
 
Residential Real Estate – Mortgage
 
Equity Lines of Credit
 
Equity Loans
 
Credit Card
 
Consumer Direct
 
Consumer Indirect
 
(In Thousands)
Performing
$
13,130,644

 
$
2,619,139

 
$
332,619

 
$
645,185

 
$
1,844,303

 
$
3,321,621

Nonperforming
176,343

 
38,721

 
11,918

 
11,845

 
12,140

 
19,113

 
$
13,306,987

 
$
2,657,860

 
$
344,537

 
$
657,030

 
$
1,856,443

 
$
3,340,734

 
December 31, 2017
 
Residential Real Estate -Mortgage
 
Equity Lines of Credit
 
Equity Loans
 
Credit Card
 
Consumer Direct
 
Consumer Indirect
 
(In Thousands)
Performing
$
13,182,760

 
$
2,616,825

 
$
350,531

 
$
627,588

 
$
1,681,246

 
$
3,147,223

Nonperforming
182,987

 
36,280

 
12,733

 
11,929

 
9,137

 
16,883

 
$
13,365,747

 
$
2,653,105

 
$
363,264

 
$
639,517

 
$
1,690,383

 
$
3,164,106
Schedule of past due loans
The following tables present an aging analysis of the Company’s past due loans, excluding loans classified as held for sale.
 
March 31, 2018
 
30-59 Days Past Due
 
60-89 Days Past Due
 
90 Days or More Past Due
 
Nonaccrual
 
Accruing TDRs
 
Total Past Due and Impaired
 
Not Past Due or Impaired
 
Total
 
(In Thousands)
Commercial, financial and agricultural
$
15,427

 
$
12,230

 
$
5,420

 
$
284,699

 
$
5,231

 
$
323,007

 
$
26,036,120

 
$
26,359,127

Real estate – construction
450

 
240

 
1,918

 
14,183

 
129

 
16,920

 
2,139,936

 
2,156,856

Commercial real estate – mortgage
8,552

 
3,220

 
2,229

 
115,285

 
4,182

 
133,468

 
11,394,819

 
11,528,287

Residential real estate – mortgage
73,335

 
33,993

 
5,975

 
169,778

 
62,171

 
345,252

 
12,961,735

 
13,306,987

Equity lines of credit
12,063

 
4,611

 
2,371

 
36,350

 
236

 
55,631

 
2,602,229

 
2,657,860

Equity loans
4,495

 
983

 
379

 
11,429

 
29,546

 
46,832

 
297,705

 
344,537

Credit card
6,438

 
5,089

 
11,845

 
—

 
—

 
23,372

 
633,658

 
657,030

Consumer direct
16,919

 
8,569

 
7,929

 
4,211

 
490

 
38,118

 
1,818,325

 
1,856,443

Consumer indirect
77,153

 
21,092

 
7,838

 
11,275

 
—

 
117,358

 
3,223,376

 
3,340,734

Total loans
$
214,832

 
$
90,027

 
$
45,904

 
$
647,210

 
$
101,985

 
$
1,099,958

 
$
61,107,903

 
$
62,207,861

 
December 31, 2017
 
30-59 Days Past Due
 
60-89 Days Past Due
 
90 Days or More Past Due
 
Nonaccrual
 
Accruing TDRs
 
Total Past Due and Impaired
 
Not Past Due or Impaired
 
Total
 
(In Thousands)
Commercial, financial and agricultural
$
14,804

 
$
3,753

 
$
18,136

 
$
310,059

 
$
1,213

 
$
347,965

 
$
25,401,984

 
$
25,749,949

Real estate – construction
12,293

 
70

 
1,560

 
5,381

 
101

 
19,405

 
2,254,134

 
2,273,539

Commercial real estate – mortgage
10,473

 
3,270

 
927

 
111,982

 
4,155

 
130,807

 
11,593,351

 
11,724,158

Residential real estate – mortgage
69,474

 
34,440

 
8,572

 
173,843

 
64,898

 
351,227

 
13,014,520

 
13,365,747

Equity lines of credit
10,956

 
7,556

 
2,259

 
34,021

 
237

 
55,029

 
2,598,076

 
2,653,105

Equity loans
4,170

 
657

 
995

 
11,559

 
30,105

 
47,486

 
315,778

 
363,264

Credit card
6,710

 
4,804

 
11,929

 
—

 
—

 
23,443

 
616,074

 
639,517

Consumer direct
19,766

 
7,020

 
6,712

 
2,425

 
534

 
36,457

 
1,653,926

 
1,690,383

Consumer indirect
92,017

 
26,460

 
7,288

 
9,595

 
—

 
135,360

 
3,028,746

 
3,164,106

Total loans
$
240,663

 
$
88,030

 
$
58,378

 
$
658,865

 
$
101,243

 
$
1,147,179

 
$
60,476,589

 
$
61,623,768
Schedule of troubled debt restructuring loans and subsequent defaults on restructured loans
The following table provides a summary of initial subsequent defaults that occurred within one year of the restructure date. The table excludes loans classified as held for sale as of period-end and includes loans no longer in default as of period-end.
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
 
Number of Contracts
 
Recorded Investment at Default
 
Number of Contracts
 
Recorded Investment at Default
 
(Dollars in Thousands)
Commercial, financial and agricultural
—

 
$
—

 
—

 
$
—

Real estate – construction
—

 
—

 
—

 
—

Commercial real estate – mortgage
—

 
—

 
—

 
—

Residential real estate – mortgage
1

 
80

 
1

 
505

Equity lines of credit
—

 
—

 
—

 
—

Equity loans
2

 
132

 
—

 
—

Credit card
—

 
—

 
—

 
—

Consumer direct
—

 
—

 
—

 
—

Consumer indirect
—

 
—

 
1

 
22

Covered loans
—

 
—

 
—

 
—

The following table presents an analysis of the types of loans that were restructured and classified as TDRs, excluding loans classified as held for sale.
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
 
Number of Contracts
 
Post-Modification Outstanding Recorded Investment
 
Number of Contracts
 
Post-Modification Outstanding Recorded Investment
 
(Dollars in Thousands)
Commercial, financial and agricultural
2

 
$
490

 
10

 
$
80,790

Real estate – construction
1

 
32

 
—

 
—

Commercial real estate – mortgage
1

 
1,383

 
—

 
—

Residential real estate – mortgage
17

 
4,119

 
13

 
2,772

Equity lines of credit
—

 
—

 
17

 
546

Equity loans
7

 
1,271

 
10

 
408

Credit card
—

 
—

 
—

 
—

Consumer direct
—

 
—

 
—

 
—

Consumer indirect
—

 
—

 
10

 
168

Covered loans
—

 
—

 
2

 
103