Loans, Allowance for Loan and Lease Losses, and Reserve for Off-Balance Sheet Credit Commitments (Tables)

12 Months Ended

Dec. 31, 2011

Loans, Allowance for Loan and Lease Losses, and Reserve for Off-Balance Sheet Credit Commitments

	December 31,

(in thousands)	2011			2010
Commercial	$	4,846,594		$	4,136,874
Commercial real estate mortgages		2,110,749			1,958,317
Residential mortgages		3,763,218			3,552,312
Real estate construction		315,609			467,785
Equity lines of credit		741,081			733,741
Installment		132,647			160,144
Lease financing		399,487			377,455

Loans and leases, excluding covered loans		12,309,385			11,386,628
Less: Allowance for loan and lease losses		(262,557	)		(257,007	)

Loans and leases, excluding covered loans, net		12,046,828			11,129,621
Covered loans		1,481,854			1,857,522
Less: Allowance for loan losses		(64,565	)		(67,389	)

Covered loans, net		1,417,289			1,790,133

Total loans and leases	$	13,791,239		$	13,244,150

Total loans and leases, net	$	13,464,117		$	12,919,754

Summary of major categories of covered loans

	December 31,

(in thousands)	2011			2010
Commercial	$	30,911		$	55,082
Commercial real estate mortgages		1,288,352			1,569,739
Residential mortgages		14,931			18,380
Real estate construction		140,992			204,945
Equity lines of credit		5,167			6,919
Installment		1,501			2,457

Covered loans		1,481,854			1,857,522
Less: Allowance for loan losses		(64,565	)		(67,389	)

Covered loans, net	$	1,417,289		$	1,790,133

Summary of accretable yield for acquired impaired loans

	For the year ended December 31,

(in thousands)	2011			2010
Balance, beginning of period	$	562,826		$	687,126
Additions		10,871			48,644
Accretion		(104,056	)		(116,477	)
Reclassifications from (to) nonaccretable yield		33,704			(27,411	)
Disposals and other		(66,971	)		(29,056	)

Balance, end of period	$	436,374		$	562,826

Summary of allowance for loan and lease losses on non-covered loans

(in thousands)	Commercial (1)			Commercial Real Estate Mortgages			Residential Mortgages			Real Estate Construction			Equity Lines of Credit			Installment			Unallocated		Total

Year ended December 31, 2011
Allowance for loan and lease losses:
Beginning balance	$	82,451		$	52,516		$	16,753		$	40,824		$	7,229		$	3,931		$	53,303	$	257,007
Provision for credit losses (2)		15,284			(13,491	)		(1,641	)		(22,507	)		2,561			(2,237	)		32,963		10,932
Charge-offs		(30,512	)		(4,573	)		(1,475	)		(8,897	)		(1,834	)		(914	)		—		(48,205	)
Recoveries		15,742			11,515			392			13,927			68			1,179			—		42,823

Net (charge-offs) recoveries		(14,770	)		6,942			(1,083	)		5,030			(1,766	)		265			—		(5,382	)

Ending balance	$	82,965		$	45,967		$	14,029		$	23,347		$	8,024		$	1,959		$	86,266	$	262,557

Ending balance of allowance:
Individually evaluated for impairment	$	7,135		$	1,551		$	108		$	4,377		$	91		$	—		$	—	$	13,262
Collectively evaluated for impairment		75,830			44,416			13,921			18,970			7,933			1,959			86,266		249,295
Loans and leases, excluding covered loans
Ending balance of loans and leases:
Loans and leases, excluding
covered loans	$	5,246,081		$	2,110,749		$	3,763,218		$	315,609		$	741,081		$	132,647		$	—	$	12,309,385
Individually evaluated for impairment		25,719			30,630			9,116			75,798			6,609			648			—		148,520
Collectively evaluated for impairment		5,220,362			2,080,119			3,754,102			239,811			734,472			131,999			—		12,160,865
Year ended December 31, 2010
Allowance for loan and lease losses:
Beginning balance	$	110,547		$	52,011		$	12,797		$	53,722		$	3,734		$	4,665		$	51,017	$	288,493
Provision for credit losses (2)		35,200			30,103			7,153			17,686			5,463			920			2,286		98,811
Charge-offs		(69,427	)		(29,833	)		(3,327	)		(36,020	)		(2,120	)		(2,529	)		—		(143,256	)
Recoveries		6,131			235			130			5,436			152			875			—		12,959

Net charge-offs		(63,296	)		(29,598	)		(3,197	)		(30,584	)		(1,968	)		(1,654	)		—		(130,297	)

Ending balance	$	82,451		$	52,516		$	16,753		$	40,824		$	7,229		$	3,931		$	53,303	$	257,007

Ending balance of allowance:
Individually evaluated for impairment	$	2,592		$	1,889		$	342		$	366		$	255		$	—		$	—	$	5,444
Collectively evaluated for impairment		79,859			50,627			16,411			40,458			6,974			3,931			53,303		251,563
Loans and leases, excluding covered loans
Ending balance of loans and leases:
Loans and leases, excluding
covered loans	$	4,514,329		$	1,958,317		$	3,552,312		$	467,785		$	733,741		$	160,144		$	—	$	11,386,628
Individually evaluated for impairment		16,715			42,580			16,889			108,221			4,859			1,148			—		190,412
Collectively evaluated for impairment		4,497,614			1,915,737			3,535,424			359,564			728,882			158,996			—		11,196,216

(1): Includes lease financing loans.
(2): Provision for credit losses in the allowance rollforward for 2011 includes total provision for credit losses of $12.5 million, net of total transfers to the reserve for off-balance sheet credit commitments of $1.6 million. Provision for credit losses for 2010 includes total provision for credit losses of $103.0 million, net of total transfers to the reserve for off-balance sheet credit commitments of $4.2 million.

Summary of activity in the reserve for off-balance sheet credit commitments

	For the year ended December 31,

(in thousands)	2011		2010		2009
Balance, beginning of the year	$	21,529	$	17,340	$	22,703
Transfers from (to) allowance for loan and lease losses		1,568		4,189		(5,363	)

Balance, end of the year	$	23,097	$	21,529	$	17,340

Schedule of impaired loans, excluding covered loans

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized

Year ended December 31, 2011
With no related allowance recorded:
Commercial	$	10,153	$	10,104	$	—	$	6,525	$	—
Commercial real estate mortgages		19,867		19,774		—		18,585		269
Residential mortgages:
Fixed		3,493		3,472		—		6,592		170
Variable		3,689		3,685		—		3,796		54

Total residential mortgages		7,182		7,157		—		10,388		224

Real estate construction:
Construction		27,435		27,338		—		47,710		787
Land		28,991		29,043		—		22,252		—

Total real estate construction		56,426		56,381		—		69,962		787

Equity lines of credit		5,341		5,321		—		3,951		—
Installment:
Consumer		658		648		—		287		—

Total installment		658		648		—		287		—

Lease financing		28		—		—		699		98

Total with no related allowance	$	99,655	$	99,385	$	—	$	110,397	$	1,378

With an allowance recorded:
Commercial	$	15,627	$	15,615	$	7,135	$	14,477	$	—
Commercial real estate mortgages		10,811		10,856		1,551		11,169		—
Residential mortgages:
Fixed		515		511		40		740		—
Variable		1,449		1,448		68		1,153		—

Total residential mortgages		1,964		1,959		108		1,893		—

Real estate construction:
Construction		—		—		—		3,534		—
Land		19,385		19,417		4,377		8,298		—

Total real estate construction		19,385		19,417		4,377		11,832		—

Equity lines of credit		1,292		1,288		91		1,435		6
Installment:
Commercial		—		—		—		1,380		—

Total installment		—		—		—		1,380		—

Lease financing		—		—		—		171		—

Total with an allowance	$	49,079	$	49,135	$	13,262	$	42,357	$	6

Total impaired loans by type:
Commercial	$	25,780	$	25,719	$	7,135	$	21,002	$	—
Commercial real estate mortgages		30,678		30,630		1,551		29,754		269
Residential mortgages		9,146		9,116		108		12,281		224
Real estate construction		75,811		75,798		4,377		81,794		787
Equity lines of credit		6,633		6,609		91		5,386		6
Installment		658		648		—		1,667		—
Lease financing		28		—		—		870		98

Total impaired loans	$	148,734	$	148,520	$	13,262	$	152,754	$	1,384

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized

Year ended December 31, 2010
With no related allowance recorded:
Commercial	$	7,295	$	7,293	$	—	$	5,574	$	624
Commercial real estate mortgages		23,496		23,426		—		28,320		352
Residential mortgages:
Fixed		10,942		10,858		—		6,615		—
Variable		4,048		4,040		—		6,747		—

Total residential mortgages		14,990		14,898		—		13,362		—

Real estate construction:
Construction		75,778		75,639		—		50,936		797
Land		23,732		23,732		—		24,339		—

Total real estate construction		99,510		99,371		—		75,275		797

Equity lines of credit		3,006		2,997		—		2,105		—
Installment:
Commercial		—		—		—		568		—
Consumer		41		41		—		21		—

Total installment		41		41		—		589		—

Lease financing		1,137		1,107		—		—		—

Total with no related allowance	$	149,475	$	149,133	$	—	$	125,225	$	1,773

With an allowance recorded:
Commercial	$	8,567	$	8,567	$	2,067	$	37,265	$	—
Commercial real estate mortgages		19,139		19,154		1,889		30,737		—
Residential mortgages:
Fixed		566		563		69		1,172		—
Variable		1,435		1,428		273		936		—

Total residential mortgages		2,001		1,991		342		2,108		—

Real estate construction:
Construction		8,850		8,850		366		65,531		—
Land		—		—		—		13,964		—

Total real estate construction		8,850		8,850		366		79,495		—

Equity lines of credit		1,868		1,862		255		934		—
Installment:
Commercial		—		—		—		3,962		—
Consumer		—		—		—		75		—

Total installment		—		—		—		4,037		—

Lease financing		855		855		525		855		—

Total with an allowance	$	41,280	$	41,279	$	5,444	$	155,431	$	—

Total impaired loans by type:
Commercial	$	15,862	$	15,860	$	2,067	$	42,839	$	624
Commercial real estate mortgages		42,635		42,580		1,889		59,057		352
Residential mortgages		16,991		16,889		342		15,470		—
Real estate construction		108,360		108,221		366		154,770		797
Equity lines of credit		4,874		4,859		255		3,039		—
Installment		41		41		—		4,626		—
Lease financing		1,992		1,962		525		855		—

Total impaired loans	$	190,755	$	190,412	$	5,444	$	280,656	$	1,773

Schedule of additional detail on impaired loans, excluding covered loans

	December 31,

(in thousands)	2011		2010
Nonaccrual loans (1)	$	101,873	$	179,578
Troubled debt restructured loans on accrual		46,647		10,834

Total impaired loans, excluding covered loans	$	148,520	$	190,412

(1): Impaired loans exclude $10.2 million and $11.3 million of nonaccrual loans under $500,000 that are not individually evaluated for impairment at December 31, 2011 and December 31, 2010.

Schedule of troubled debt restructured loans

	For the year ended December 31, 2011

(in thousands)	Number of Contracts		Pre-Modification Outstanding Principal		Period-End Outstanding Principal		Financial Effects (1)
Commercial		12	$	12,305	$	12,111	$	1,490
Commercial real estate mortgages		5		12,908		12,899		—
Residential mortgages:
Variable		1		969		933		—
Real estate construction:
Construction		6		26,814		26,814		—
Land		6		29,153		29,042		1,813

Total real estate construction		12		55,967		55,856		1,813

Lease financing		9		765		—		—

Total troubled debt restructured loans		39	$	82,914	$	81,799	$	3,303

(1): Financial effects are comprised of chargeoffs and specific reserves recognized on TDR loans at modification date.

Schedule of troubled debt restructured loans that have subsequently defaulted

(in thousands)		Period-End Outstanding Principal		Period-End Specific Reserve

Commercial	1	$	45	$	1
Real estate construction:
Land	2		6,339		—

Total TDR loans that subsequently defaulted	3	$	6,384	$	1

Summary of past due loans, excluding covered loans, based upon the length of time the loans have been past due

(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days and Accruing		Nonaccrual		Total Past Due and Nonaccrual Loans		Current		Total Loans and Leases

December 31, 2011
Commercial	$	6,817	$	1,003	$	—	$	19,888	$	27,708	$	4,818,886	$	4,846,594
Commercial real estate mortgages		5,838		—		—		21,948		27,786		2,082,963		2,110,749
Residential mortgages:
Fixed		662		525		379		5,572		7,138		1,574,658		1,581,796
Variable		—		2,983		—		4,199		7,182		2,174,240		2,181,422

Total residential mortgages		662		3,508		379		9,771		14,320		3,748,898		3,763,218

Real estate construction:
Construction		—		—		—		15,582		15,582		202,279		217,861
Land		—		—		—		35,294		35,294		62,454		97,748

Total real estate construction		—		—		—		50,876		50,876		264,733		315,609

Equity lines of credit		—		—		74		8,669		8,743		732,338		741,081
Installment:
Commercial		—		—		—		4		4		601		605
Consumer		150		—		—		870		1,020		131,022		132,042

Total installment		150		—		—		874		1,024		131,623		132,647

Lease financing		—		—		—		—		—		399,487		399,487

Total	$	13,467	$	4,511	$	453	$	112,026	$	130,457	$	12,178,928	$	12,309,385

December 31, 2010
Commercial	$	9,832	$	4,178	$	904	$	19,498	$	34,412	$	4,102,462	$	4,136,874
Commercial real estate mortgages		15,112		3,996		—		44,882		63,990		1,894,327		1,958,317
Residential mortgages:
Fixed		—		731		379		13,253		14,363		1,628,683		1,643,046
Variable		—		—		—		5,468		5,468		1,903,798		1,909,266

Total residential mortgages		—		731		379		18,721		19,831		3,532,481		3,552,312

Real estate construction:
Construction		554		—		—		74,446		75,000		251,518		326,518
Land		—		—		—		23,763		23,763		117,504		141,267

Total real estate construction		554		—		—		98,209		98,763		369,022		467,785

Equity lines of credit		74		526		—		6,782		7,382		726,359		733,741
Installment:
Commercial		63		—		—		308		371		30,790		31,161
Consumer		304		—		—		282		586		128,397		128,983

Total installment		367		—		—		590		957		159,187		160,144

Lease financing		7		—		1,216		2,241		3,464		373,991		377,455

Total	$	25,946	$	9,431	$	2,499	$	190,923	$	228,799	$	11,157,829	$	11,386,628

Summary of contractual interest foregone on nonaccrual loans, excluding covered loans

	December 31,

(in thousands)	2011			2010			2009
Interest income that would have been recognized had nonaccrual
loans performed in accordance with their original terms	$	15,465		$	17,869		$	21,613
Less: Interest income recognized on nonaccrual loans on a cash basis		(1,494	)		(1,689	)		(1,259	)

Interest income foregone on nonaccrual loans	$	13,971		$	16,180		$	20,354

Summary of the loan and lease portfolio, excluding covered loans, by loan type and credit quality classification

	December 31, 2011						December 31, 2010

(in thousands)	Nonclassified		Classified		Total		Nonclassified		Classified		Total
Commercial	$	4,732,663	$	113,931	$	4,846,594	$	4,009,923	$	126,951	$	4,136,874
Commercial real estate mortgages		1,930,001		180,748		2,110,749		1,727,353		230,964		1,958,317
Residential mortgages:
Fixed		1,565,420		16,376		1,581,796		1,615,970		27,076		1,643,046
Variable		2,163,458		17,964		2,181,422		1,880,570		28,696		1,909,266

Total residential mortgages		3,728,878		34,340		3,763,218		3,496,540		55,772		3,552,312

Real estate construction:
Construction		147,916		69,945		217,861		129,671		196,847		326,518
Land		43,717		54,031		97,748		53,400		87,867		141,267

Total real estate construction		191,633		123,976		315,609		183,071		284,714		467,785

Equity lines of credit		724,045		17,036		741,081		716,276		17,465		733,741
Installment:
Commercial		601		4		605		21,349		9,812		31,161
Consumer		130,921		1,121		132,042		126,905		2,078		128,983

Total installment		131,522		1,125		132,647		148,254		11,890		160,144

Lease financing		396,256		3,231		399,487		371,684		5,771		377,455

Total	$	11,834,998	$	474,387	$	12,309,385	$	10,653,101	$	733,527	$	11,386,628

Summary of the allowance for loan losses on covered loans

	For the year ended December 31,

(in thousands)	2011			2010
Balance, beginning of period	$	67,389		$	—
Provision for losses		43,646			76,218
Charge-offs		(325	)		(414	)
Reduction in allowance due to loan removals		(46,145	)		(8,415	)

Balance, end of period	$	64,565		$	67,389