Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2013

Allowance for Loan and Lease Losses, Adjustments, Net [Abstract]

Schedule of Current, Accruing Past Due, and Nonaccrual Loans

The following is a summary of current, accruing past due, and non-accrual loans by portfolio class as of June 30, 2013 and December 31, 2012.



Current, Accruing Past Due, and Non-accrual Loans
	June 30, 2013
(in thousands)	Current		Accruing 30-89 Days Past Due	Accruing 90 Days or Greater Past Due	Total Accruing Past Due	Non-accrual	Total
Investment properties	$	4,290,084	8,071	—	8,071	94,368	4,392,523
1-4 family properties	1,136,964		6,089	246	6,335	54,188	1,197,487
Land acquisition	591,534		4,583	—	4,583	156,202	752,319
Total commercial real estate	6,018,582		18,743	246	18,989	304,758	6,342,329
Commercial and industrial	9,093,843		21,727	1,148	22,875	114,781	9,231,499
Home equity lines	1,482,730		6,156	272	6,428	18,580	1,507,738
Consumer mortgages	1,390,307		21,409	1,058	22,467	38,438	1,451,212
Credit cards	248,185		1,784	1,819	3,603	—	251,788
Small business	559,959		3,834	46	3,880	5,042	568,881
Other retail loans	274,302		2,429	7	2,436	1,865	278,603
Total retail loans	3,955,483		35,612	3,202	38,814	63,925	4,058,222
Total loans	$	19,067,908	76,082	4,596	80,678	483,464	19,632,050	⁽¹	⁾

	December 31, 2012
(in thousands)	Current		Accruing 30-89 Days Past Due	Accruing 90 Days or Greater Past Due	Total Accruing Past Due	Non-accrual	Total
Investment properties	$	4,278,016	5,436	798	6,234	91,868	4,376,118
1-4 family properties	1,193,433		13,053	41	13,094	72,578	1,279,105
Land acquisition	599,034		3,422	298	3,720	191,475	794,229
Total commercial real estate	6,070,483		21,911	1,137	23,048	355,921	6,449,452
Commercial and industrial	8,944,121		33,526	906	34,432	122,961	9,101,514
Home equity lines	1,515,396		9,555	705	10,260	16,741	1,542,397
Consumer mortgages	1,348,506		22,502	1,288	23,790	39,265	1,411,561
Credit cards	258,698		2,450	2,413	4,863	—	263,561
Small business	505,526		4,935	338	5,273	5,550	516,349
Other retail loans	271,175		3,135	24	3,159	2,895	277,229
Total retail loans	3,899,301		42,577	4,768	47,345	64,451	4,011,097
Total loans	$	18,913,905	98,014	6,811	104,825	543,333	19,562,063	⁽²	⁾

⁽¹⁾Total before net deferred fees and costs of $23.8 million.

⁽²⁾Total before net deferred fees and costs of $20.4 million

Loan Portfolio Credit Exposure

In the following tables, retail loans are classified as Pass except when they reach 90 days past due, or are downgraded to Substandard. Upon reaching 120 days past due, retail loans are generally downgraded to Loss and charged off, in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy. The risk grade classifications of retail loans secured by junior liens on 1-4 family residential properties also consider available information on the payment status of the associated senior lien with other financial institutions.



Loan Portfolio Credit Exposure by Risk Grade
	June 30, 2013
(in thousands)	Pass		Special Mention	Substandard⁽¹⁾	Doubtful⁽²⁾	Loss		Total
Investment properties	$	3,866,906	296,474	226,339	2,804	—		4,392,523
1-4 family properties	881,870		173,155	129,788	12,674	—		1,197,487
Land acquisition	425,078		130,534	193,281	3,426	—		752,319
Total commercial real estate	5,173,854		600,163	549,408	18,904	—		6,342,329
Commercial and industrial	8,343,695		443,765	424,333	19,611	95	⁽²⁾⁽³⁾	9,231,499
Home equity lines	1,477,367		—	26,746	—	3,625	⁽²⁾⁽⁴⁾	1,507,738
Consumer mortgages	1,415,981		—	33,431	—	1,800	⁽²⁾⁽⁴⁾	1,451,212
Credit cards	249,969		—	656	—	1,163	⁽⁴⁾	251,788
Small business	559,000		—	9,011	—	870	⁽²⁾⁽⁴⁾	568,881
Other retail loans	275,348		—	3,157	—	98	⁽²⁾⁽⁴⁾	278,603
Total retail loans	3,977,665		—	73,001	—	7,556		4,058,222
Total loans	$	17,495,214	1,043,928	1,046,742	38,515	7,651		19,632,050	⁽⁵	⁾

	December 31, 2012
(in thousands)	Pass		Special Mention	Substandard⁽¹⁾	Doubtful⁽²⁾	Loss		Total
Investment properties	$	3,659,102	463,532	253,484	—	—		4,376,118
1-4 family properties	903,213		197,148	176,672	1,953	119	⁽²⁾⁽³⁾	1,279,105
Land acquisition	416,822		143,685	227,761	5,961	—		794,229
Total commercial real estate	4,979,137		804,365	657,917	7,914	119	⁽²⁾⁽³⁾	6,449,452
Commercial and industrial	8,069,049		572,591	447,955	11,819	100	⁽²⁾⁽³⁾	9,101,514
Home equity lines	1,511,729		—	29,094	—	1,574	⁽²⁾⁽⁴⁾	1,542,397
Consumer mortgages	1,372,957		—	38,023	—	581	⁽²⁾⁽⁴⁾	1,411,561
Credit cards	260,194		—	1,776	—	1,591	⁽⁴⁾	263,561
Small business	504,503		—	10,563	—	1,283	⁽²⁾⁽⁴⁾	516,349
Other retail loans	271,619		—	5,379	—	231	⁽²⁾⁽⁴⁾	277,229
Total retail loans	3,921,002		—	84,835	—	5,260		4,011,097
Total loans	$	16,969,188	1,376,956	1,190,707	19,733	5,479		19,562,063	₍₆	₎

⁽¹⁾ Includes $437.3 million and $518.1 million of non-accrual Substandard loans at June 30, 2013 and December 31, 2012, respectively.

⁽²⁾ The loans within these risk grades are on non-accrual status.

⁽³⁾ Amount was fully reserved and was charged-off in the subsequent quarter.

⁽⁴⁾ Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an allowance for loan losses equal to the full loan amount and are charged off in the subsequent quarter.

⁽⁵⁾Total before net deferred fees and costs of $23.8 million.

⁽⁶⁾Total before net deferred fees and costs of $20.4 million

Schedule of Allowances for Loan Losses and Recorded Investment in Loans

The following table details the changes in the allowance for loan losses by loan segment for the six months ended June 30, 2013 and 2012.



Allowance for Loan Losses and Recorded Investment in Loans
	As Of and For The Six Months Ended June 30, 2013
(in thousands)	Commercial Real Estate			Commercial & Industrial		Retail		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	167,926		126,847		50,632		28,000		373,405
Charge-offs	(64,351		)	(27,364	)	(23,320	)	—		(115,035	)
Recoveries	9,095			14,802		3,840		—		27,737
Provision for loan losses	25,659			9,593		18,521		(5,000	)	48,773
Ending balance	$	138,329		123,878		49,673		23,000		334,880
Ending balance: individually evaluated for impairment	$	47,039		27,552		1,420		—		76,011
Ending balance: collectively evaluated for impairment	$	91,290		96,326		48,253		23,000		258,869
Loans:
Ending balance: total loans⁽¹⁾	$	6,342,329		9,231,499		4,058,222		—		19,632,050
Ending balance: individually evaluated for impairment	$	624,402		280,717		62,333		—		967,452
Ending balance: collectively evaluated for impairment	$	5,717,927		8,950,782		3,995,889		—		18,664,598

	As Of and For The Six Months Ended June 30, 2012
(in thousands)	Commercial Real Estate			Commercial & Industrial		Retail		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	249,094		184,888		54,514		47,998		536,494
Charge-offs	(112,919		)	(75,240	)	(27,819	)	—		(215,978	)
Recoveries	10,611			7,551		4,376		—		22,538
Provision for loan losses	63,422			36,026		20,821		(9,998	)	110,271
Ending balance	$	210,208		153,225		51,892		38,000		453,325
Ending balance: individually evaluated for impairment	$	57,474		36,623		852		—		94,949
Ending balance: collectively evaluated for impairment	$	152,734		116,602		51,040		38,000		358,376
Loans:
Ending balance: total loans⁽²⁾	$	6,884,277		8,884,633		3,924,535		—		19,693,445
Ending balance: individually evaluated for impairment	$	791,924		365,487		60,083		—		1,217,494
Ending balance: collectively evaluated for impairment	$	6,092,353		8,519,146		3,864,452		—		18,475,951

⁽¹⁾Total before net deferred fees and costs of $23.8 million.

⁽²⁾Total before net deferred fees and costs of $13.3 million.

The following table details the changes in the allowance for loan losses by loan segment for the six months ended June 30, 2013 and 2012.



Allowance for Loan Losses and Recorded Investment in Loans
	As Of and For The Three Months Ended June 30, 2013
(in thousands)	Commercial Real Estate			Commercial & Industrial		Retail		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	145,991		122,758		55,023		28,000		351,772
Charge-offs	(28,075		)	(10,474	)	(9,367	)	—		(47,916	)
Recoveries	5,493			10,551		1,903		—		17,947
Provision for loan losses	14,920			1,043		2,114		(5,000	)	13,077
Ending balance	$	138,329		123,878		49,673		23,000		334,880
Ending balance: individually evaluated for impairment	$	47,039		27,552		1,420		—		76,011
Ending balance: collectively evaluated for impairment	$	91,290		96,326		48,253		23,000		258,869
Loans:
Ending balance: total loans⁽¹⁾	$	6,342,329		9,231,499		4,058,222		—		19,632,050
Ending balance: individually evaluated for impairment	$	624,402		280,717		62,333		—		967,452
Ending balance: collectively evaluated for impairment	$	5,717,927		8,950,782		3,995,889		—		18,664,598

	As Of and For The Three Months Ended June 30, 2012
(in thousands)	Commercial Real Estate			Commercial & Industrial		Retail		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	239,974		178,200		51,620		38,000		507,794
Charge-offs	(60,457		)	(37,814	)	(12,218	)	—		(110,489	)
Recoveries	6,106			3,929		1,763		—		11,798
Provision for loan losses	24,585			8,910		10,727		—		44,222
Ending balance	$	210,208		153,225		51,892		38,000		453,325
Ending balance: individually evaluated for impairment	$	57,474		36,623		852		—		94,949
Ending balance: collectively evaluated for impairment	$	152,734		116,602		51,040		38,000		358,376
Loans:
Ending balance: total loans⁽²⁾	$	6,884,277		8,884,633		3,924,535		—		19,693,445
Ending balance: individually evaluated for impairment	$	791,924		365,487		60,083		—		1,217,494
Ending balance: collectively evaluated for impairment	$	6,092,353		8,519,146		3,864,452		—		18,475,951

⁽¹⁾Total before net deferred fees and costs of $23.8 million.

⁽²⁾Total before net deferred fees and costs of $13.3 million.

Schedule of Impaired Loans

The tables below summarize impaired loans (including accruing TDRs) as of June 30, 2013 and December 31, 2012.



Impaired Loans (including accruing TDRs)
	June 30, 2013				Six Months Ended June 30, 2013		Three Months Ended June 30, 2013
(in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized	Average Recorded Investment	Interest Income Recognized
With no related allowance recorded
Investment properties	$	23,905	29,533	—	18,707	—	22,649	—
1-4 family properties	17,827		40,947	—	32,385	—	26,567	—
Land acquisition	36,253		89,284	—	49,123	—	41,369	—
Total commercial real estate	77,985		159,764	—	100,215	—	90,585	—
Commercial and industrial	39,275		56,385	—	37,772	—	41,209	—
Home equity lines	49		49	—	50	—	49	—
Consumer mortgages	1,197		2,751	—	1,765	—	2,040	—
Credit cards	—		—	—	—	—	—	—
Small business	—		—	—	—	—	—	—
Other retail loans	2		10	—	6	—	5	—
Total retail loans	1,248		2,810	—	1,821	—	2,094	—
Total impaired loans with no related allowance recorded	$	118,508	218,959	—	139,808	—	133,888	—
With allowance recorded
Investment properties	$	230,156	238,709	13,214	246,900	2,748	246,037	1,291
1-4 family properties	118,672		127,324	14,837	116,563	1,664	118,187	821
Land acquisition	197,589		216,552	18,988	195,019	1,494	191,029	757
Total commercial real estate	546,417		582,585	47,039	558,482	5,906	555,253	2,869
Commercial and industrial	241,442		246,916	27,552	248,149	3,670	238,959	1,859
Home equity lines	2,972		2,972	185	6,525	112	4,387	34
Consumer mortgages	50,043		50,043	947	52,042	945	51,227	492
Credit cards	—		—	—	—	—	—	—
Small business	3,842		3,842	223	3,494	58	3,486	37
Other retail loans	4,228		4,228	65	3,905	128	3,886	65
Total retail loans	61,085		61,085	1,420	65,966	1,243	62,986	628
Total impaired loans with allowance recorded	$	848,944	890,586	76,011	872,597	10,819	857,198	5,356
Total impaired loans
Investment properties	$	254,061	268,242	13,214	265,607	2,748	268,686	1,291
1-4 family properties	136,499		168,271	14,837	148,948	1,664	144,754	821
Land acquisition	233,842		305,836	18,988	244,142	1,494	232,398	757
Total commercial real estate	624,402		742,349	47,039	658,697	5,906	645,838	2,869
Commercial and industrial	280,717		303,301	27,552	285,921	3,670	280,168	1,859
Home equity lines	3,021		3,021	185	6,575	112	4,436	34
Consumer mortgages	51,240		52,794	947	53,807	945	53,267	492
Credit cards	—		—	—	—	—	—	—
Small business	3,842		3,842	223	3,494	58	3,486	37
Other retail loans	4,230		4,238	65	3,911	128	3,891	65
Total retail loans	62,333		63,895	1,420	67,787	1,243	65,080	628
Total impaired loans	$	967,452	1,109,545	76,011	1,012,405	10,819	991,086	5,356



Impaired Loans (including accruing TDRs)
	December 31, 2012				Year Ended December 31, 2012
(in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
With no related allowance recorded
Investment properties	$	10,939	14,130	—	42,947	—
1-4 family properties	40,793		117,869	—	97,434	—
Land acquisition	59,697		125,023	—	158,015	—
Total commercial real estate	111,429		257,022	—	298,396	—
Commercial and industrial	31,181		51,433	—	68,710	—
Home equity lines	51		51	—	2,811	—
Consumer mortgages	1,247		2,263	—	3,706	—
Credit cards	—		—	—	—	—
Small business	—		—	—	—	—
Other retail loans	7		15	—	127	—
Total retail loans	1,305		2,329	—	6,644	—
Total impaired loans with no related allowance recorded	$	143,915	310,784	—	373,750	—
With allowance recorded
Investment properties	$	253,851	254,339	20,209	230,848	6,144
1-4 family properties	114,207		117,505	11,414	141,529	4,347
Land acquisition	205,591		205,601	27,325	97,173	2,018
Total commercial real estate	573,649		577,445	58,948	469,550	12,509
Commercial and industrial	279,362		289,578	24,494	299,865	8,576
Home equity lines	8,696		8,696	195	7,071	237
Consumer mortgages	50,261		50,261	880	38,912	1,300
Credit cards	—		—	—	—	—
Small business	3,333		3,333	184	1,950	76
Other retail loans	3,304		3,304	74	2,543	167
Total retail loans	65,594		65,594	1,333	50,476	1,780
Total impaired loans with allowance recorded	$	918,605	932,617	84,775	819,891	22,865
Total impaired loans
Investment properties	$	264,790	268,469	20,209	273,795	6,144
1-4 family properties	155,000		235,374	11,414	238,963	4,347
Land acquisition	265,288		330,624	27,325	255,188	2,018
Total commercial real estate	685,078		834,467	58,948	767,946	12,509
Commercial and industrial	310,543		341,011	24,494	368,575	8,576
Home equity lines	8,747		8,747	195	9,882	237
Consumer mortgages	51,508		52,524	880	42,618	1,300
Credit cards	—		—	—	—	—
Small business	3,333		3,333	184	1,950	76
Other retail loans	3,311		3,319	74	2,670	167
Total retail loans	66,899		67,923	1,333	57,120	1,780
Total impaired loans	$	1,062,520	1,243,401	84,775	1,193,641	22,865

Troubled Debt Restructurings

The following tables represent, by concession type, the post-modification balance for loans modified or renewed during the six and three months ended June 30, 2013 and 2012, respectively, that were reported as accruing or non-accruing TDRs.



TDRs by Concession Type
	Six Months Ended June 30, 2013
(in thousands, except contract data)	Number of Contracts	Principal Forgiveness		Below Market Interest Rate	Term Extensions and/or Other Concessions	Total
Investment properties	31	$	—	47,152	4,372	51,524
1-4 family properties	58	424		24,031	6,496	30,951
Land acquisition	16	74		5,332	7,231	12,637
Total commercial real estate	105	498		76,515	18,099	95,112
Commercial and industrial	84	183		33,527	23,325	57,035
Home equity lines	1	—		—	80	80
Consumer mortgages	84	—		7,124	3,038	10,162
Credit cards	—	—		—	—	—
Small business	24	—		917	1,608	2,525
Other retail loans	38	—		460	1,028	1,488
Total retail loans	147	—		8,501	5,754	14,255
Total TDRs	336	$	681	118,543	47,178	166,402	⁽¹	⁾

	Three Months Ended June 30, 2013
(in thousands, except contract data)	Number of Contracts	Principal Forgiveness		Below Market Interest Rate	Term Extensions and/or Other Concessions	Total
Investment properties	17	$	—	31,375	2,258	33,633
1-4 family properties	21	—		17,067	2,312	19,379
Land acquisition	6	—		1,353	6,902	8,255
Total commercial real estate	44	—		49,795	11,472	61,267
Commercial and industrial	40	—		19,767	19,134	38,901
Home equity lines	—	—		—	—	—
Consumer mortgages	38	—		2,204	435	2,639
Credit cards	—	—		—	—	—
Small business	11	—		30	934	964
Other retail loans	14	—		88	362	450
Total retail loans	63	—		2,322	1,731	4,053
Total TDRs	147	$	—	71,884	32,337	104,221	⁽²	⁾

⁽¹⁾Net charge-offs of $53 thousand were recorded during the six months ended June 30, 2013 upon restructuring these loans.

⁽²⁾No charge-offs were recorded during the three months ended June 30, 2013 upon restructuring of these loans.



TDRs by Concession Type
	Six Months Ended June 30, 2012
(in thousands, except contract data)	Number of Contracts	Principal Forgiveness		Below Market Interest Rate	Term Extensions and/or Other Concessions	Total
Investment properties	40	$	—	41,259	43,833	85,092
1-4 family properties	60	—		35,698	3,797	39,495
Land acquisition	38	—		22,056	15,273	37,329
Total commercial real estate	138	—		99,013	62,903	161,916
Commercial and industrial	106	—		50,336	22,342	72,678
Home equity lines	3	—		330	34	364
Consumer mortgages	198	—		5,920	14,630	20,550
Credit cards	—	—			—	—
Small business	14	—		319	1,046	1,365
Other retail loans	36	—		492	1,901	2,393
Total retail loans	251	—		7,061	17,611	24,672
Total TDRs	495	$	—	156,410	102,856	259,266	⁽¹	⁾

	Three Months Ended June 30, 2012
(in thousands, except contract data)	Number of Contracts	Principal Forgiveness		Below Market Interest Rate	Term Extensions and/or Other Concessions	Total
Investment properties	26	$	—	38,784	31,645	70,429
1-4 family properties	32	—		16,147	1,596	17,743
Land acquisition	21	—		19,407	3,291	22,698
Total commercial real estate	79	—		74,338	36,532	110,870
Commercial and industrial	59	—		29,679	9,056	38,735
Home equity lines	2	—		—	34	34
Consumer mortgages	174	—		4,932	12,262	17,194
Credit cards	—	—			—	—
Small business	8	—		151	398	549
Other retail loans	32	—		492	1,568	2,060
Total retail loans	216	—		5,575	14,262	19,837
Total TDRs	354	$	—	109,592	59,850	169,442	⁽²	⁾

⁽¹⁾Net charge-offs of approximately $2 million were recorded during the six months ended June 30, 2012 upon restructuring of these loans.

⁽²⁾Net charge-offs of $519 thousand were recorded during the three months ended June 30, 2012 upon restructuring of these loans.

Troubled Debt Restructurings that Subsequently Defaulted



Troubled Debt Restructurings Entered Into That Subsequently Defaulted⁽¹⁾ During
	Six Months Ended June 30, 2013			Three Months Ended June 30, 2013
(in thousands, except contract data)	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
Investment properties	2	$	4,519	—	$	—
1-4 family properties	8	10,754		6	1,809
Land acquisition	1	126		1	125
Total commercial real estate	11	15,399		7	1,934
Commercial and industrial	4	1,313		2	187
Home equity lines	—	—		—	—
Consumer mortgages	13	978		3	420
Credit cards	—	—		—	—
Small business	1	20		1	20
Other retail loans	1	195		—	—
Total retail loans	15	1,193		4	440
Total TDRs	30	$	17,905	13	$	2,561

⁽¹⁾Default is defined as the earlier of the troubled debt restructuring being placed on non-accrual status or reaching 90 days past due with respect to principal and/or interest payments.



Troubled Debt Restructurings Entered Into That Subsequently Defaulted⁽¹⁾ During
	Six Months Ended June 30, 2012⁽²⁾			Three Months Ended June 30, 2012⁽²⁾
(in thousands, except contract data)	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
Investment properties	3	$	3,552	2	$	1,519
1-4 family properties	5	2,703		4	714
Land acquisition	5	4,652		4	4,125
Total commercial real estate	13	10,907		10	6,358
Commercial and industrial	9	5,443		8	4,980
Home equity lines	—	—		—	—
Consumer mortgages	3	1,479		1	1,009
Credit cards	—	—		—	—
Small business	—	—		—	—
Other retail loans	—	—		—	—
Total retail loans	3	1,479		1	1,009
Total TDRs	25	$	17,829	19	$	12,347

⁽¹⁾Default is defined as the earlier of the troubled debt restructuring being placed on non-accrual status or reaching 90 days past due with respect to principal and/or interest payments.

- Definition

Tabular disclosure of troubled debt restructurings in the periods following the restructuring, including: (1) a description of the portion of the recorded [restructured] debt which is contingently payable based on the occurrence of future events or circumstances; (2) the dollar amount of the portion of the recorded [restructured] debt which is contingently payable based on the occurrence of future events or circumstances; and (3) a description of the circumstance, events, or conditions that would cause payments to occur or the creditor to forgive the contingent portion of recorded debt.

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