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

6 Months Ended

Jun. 30, 2011

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

Summary of loans

Loans and Leases

	June 30,			December 31,			June 30,
(in thousands)	2011			2010			2010
Commercial	$	4,420,899		$	4,136,874		$	3,935,544
Commercial real estate mortgages	1,930,269			1,958,317			2,078,003
Residential mortgages	3,710,765			3,552,312			3,577,894
Real estate construction	355,014			467,785			629,902
Equity lines of credit	735,899			733,741			742,071
Installment	130,924			160,144			169,070
Lease financing	379,353			377,455			350,560
Loans and leases, excluding covered loans	11,663,123			11,386,628			11,483,044
Less: Allowance for loan and lease losses	(265,933		)	(257,007		)	(290,492		)
Loans and leases, excluding covered loans, net	11,397,190			11,129,621			11,192,552
Covered loans	1,724,633			1,857,522			2,080,846
Less: Allowance for loan losses	(67,629		)	(67,389		)	(46,255		)
Covered loans, net	1,657,004			1,790,133			2,034,591
Total loans and leases	$	13,387,756		$	13,244,150		$	13,563,890
Total loans and leases, net	$	13,054,194		$	12,919,754		$	13,227,143

Summary of major categories of covered loans

	June 30,			December 31,			June 30,
(in thousands)	2011			2010			2010
Commercial	$	41,135		$	55,082		$	85,638
Commercial real estate mortgages	1,482,186			1,569,739			1,710,159
Residential mortgages	19,494			18,380			21,680
Real estate construction	173,263			204,945			250,162
Equity lines of credit	5,791			6,919			9,780
Installment loans	2,764			2,457			3,427
Covered loans	1,724,633			1,857,522			2,080,846
Less: Allowance for loan losses	(67,629		)	(67,389		)	(46,255		)
Covered loans, net	$	1,657,004		$	1,790,133		$	2,034,591

Summary of acquired impaired loans

	For the six months ended June 30,
(in thousands)	2011			2010
Balance, beginning of period	$	562,826		$	687,126
Additions	10,871			48,644
Accretion	(54,558		)	(58,776		)
Reclassifications to nonaccretable yield	13,461			(114,883		)
Disposals and other	(27,127		)	5,926
Balance, end of period	$	505,473		$	568,037

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
Three months ended June 30, 2011
Allowance for loan and lease losses:
Beginning balance	$	75,661		$	47,519		$	13,527		$	36,693		$	6,445		$	5,445		$	78,066	$	263,356
Provision for credit losses (2)	7,440			272			(401		)	(7,815		)	343			(3,600		)	2,143		(1,618		)
Charge-offs	(3,446		)	(98		)	(375		)	(1,897		)	(128		)	(131		)	—		(6,075		)
Recoveries	6,062			1,367			122			2,474			8			237			—		10,270
Net charge-offs (recoveries)	2,616			1,269			(253		)	577			(120		)	106			—		4,195
Ending balance	$	85,717		$	49,060		$	12,873		$	29,455		$	6,668		$	1,951		$	80,209	$	265,933
Six months ended June 30, 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)	2,587			(10,937		)	(3,012		)	(15,772		)	316			(1,884		)	26,906		(1,796		)
Charge-offs	(6,684		)	(2,897		)	(1,022		)	(2,463		)	(921		)	(455		)	—		(14,442		)
Recoveries	7,363			10,378			154			6,866			44			359			—		25,164
Net charge-offs (recoveries)	679			7,481			(868		)	4,403			(877		)	(96		)	—		10,722
Ending balance	$	85,717		$	49,060		$	12,873		$	29,455		$	6,668		$	1,951		$	80,209	$	265,933
Ending balance of allowance:
Individually evaluated for impairment	$	7,605		$	1,150		$	56		$	1,853		$	404		$	—		$	—	$	11,068
Collectively evaluated for impairment	78,112			47,910			12,817			27,602			6,264			1,951			80,209		254,865
Loans and leases, excluding covered loans
Ending balance of loans and leases:
Loans and leases excluding covered loans	$	4,800,252		$	1,930,269		$	3,710,765		$	355,014		$	735,899		$	130,924		$	—	$	11,663,123
Individually evaluated for impairment	19,236			23,689			12,552			60,543			4,522			41			—		120,583
Collectively evaluated for impairment	4,781,016			1,906,580			3,698,213			294,471			731,377			130,883			—		11,542,540

(1) Includes lease financing loans.

(2) There was no provision for credit losses for the three and six months ended June 30, 2011. Net transfers to the reserve for off-balance sheet credit commitments were $1.6 million and $1.8 million for the three and six months ended June 30, 2011, respectively.

The following is a summary of activity in the allowance for loan and lease losses on non-covered loans for the three and six months ended June 30, 2010:

	For the three			For the six
	months ended			months ended
(in thousands)	June 30, 2010			June 30, 2010
Allowance for loan and lease losses
Balance, beginning of period	$	292,799		$	288,493
Charge-offs
Commercial	(22,680		)	(40,749		)
Commercial real estate mortgages	(476		)	(15,451		)
Residential mortgages	(620		)	(2,080		)
Real estate construction	(12,025		)	(26,250		)
Equity lines of credit	(345		)	(557		)
Installment	(5		)	(1,502		)
Total charge-offs	(36,151		)	(86,589		)
Recoveries
Commercial	1,390			1,835
Commercial real estate mortgages	74			81
Residential mortgages	10			79
Real estate construction	1,081			1,123
Equity lines of credit	7			10
Installment	94			430
Total recoveries	2,656			3,558
Net charge-offs	(33,495		)	(83,031		)
Provision for credit losses	32,000			87,000
Transfers to reserve for off-balance sheet credit commitments	(812		)	(1,970		)
Balance, end of period	$	290,492		$	290,492

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

	For the three months ended June 30,				For the six months ended June 30,
(in thousands)	2011		2010		2011		2010
Balance, beginning of period	$	21,707	$	18,498	$	21,529	$	17,340
Transfers from allowance for loan and lease losses	1,618		812		1,796		1,970
Balance, end of period	$	23,325	$	19,310	$	23,325	$	19,310

Schedule of impaired loans, excluding covered loans

							For the three months ended June 30, 2011				For the six months ended June 30, 2011
(in thousands)	Recorded  Investment		Unpaid  Principal  Balance		Related  Allowance		Average  Recorded  Investment		Interest Income Recognized		Average  Recorded  Investment		Interest Income Recognized
June 30, 2011
With no related allowance recorded:
Commercial	$	4,007	$	4,007	$	—	$	5,204	$	—	$	5,901	$	—
Commercial real estate mortgages	14,610		14,530		—		16,550		60		18,866		190
Residential mortgages:
Fixed	7,834		7,840		—		7,036		17		8,338		162
Variable	4,163		4,175		—		3,717		24		3,827		34
Total residential mortgages	11,997		12,015		—		10,753		41		12,165		196
Real estate construction:
Construction	39,184		39,097		—		44,221		175		54,740		405
Land	11,271		11,271		—		17,400		—		19,510		—
Total real estate construction	50,455		50,368		—		61,621		175		74,250		405
Equity lines of credit	2,420		2,420		—		2,856		—		2,906		—
Installment:
Commercial	—		—		—		—		—		—		—
Consumer	41		41		—		41		—		41		—
Total installment	41		41		—		41		—		41		—
Lease financing	762		762		—		935		—		1,002		99
Total with no related allowance	$	84,292	$	84,143	$	—	$	97,960	$	276	$	115,131	$	890
With an allowance recorded:
Commercial	$	14,467	$	14,467	$	7,605	$	10,695	$	—	$	9,986	$	—
Commercial real estate mortgages	9,159		9,159		1,150		8,229		—		11,866		—
Residential mortgages:
Fixed	539		537		56		1,046		—		886		—
Variable	—		—		—		707		—		950		—
Total residential mortgages	539		537		56		1,753		—		1,836		—
Real estate construction:
Construction	—		—		—		4,409		—		5,889		—
Land	10,175		10,175		1,853		5,087		—		3,392		—
Total real estate construction	10,175		10,175		1,853		9,496		—		9,281		—
Equity lines of credit	2,102		2,102		404		1,530		3		1,642		6
Installment:
Commercial	—		—		—		3,448		—		2,299		—
Total installment	—		—		—		3,448		—		2,299		—
Lease financing	—		—		—		—		—		285		—
Total with an allowance	$	36,442	$	36,440	$	11,068	$	35,151	$	3	$	37,195	$	6
Total impaired loans by type:
Commercial	$	18,474	$	18,474	$	7,605	$	15,899	$	—	$	15,887	$	—
Commercial real estate mortgages	23,769		23,689		1,150		24,779		60		30,732		190
Residential mortgages	12,536		12,552		56		12,506		41		14,001		196
Real estate construction	60,630		60,543		1,853		71,117		175		83,531		405
Equity lines of credit	4,522		4,522		404		4,386		3		4,548		6
Installment	41		41		—		3,489		—		2,350		—
Lease financing	762		762		—		935		—		1,287		99
Total impaired loans	$	120,734	$	120,583	$	11,068	$	133,111	$	279	$	152,326	$	896

(in thousands)	Recorded  Investment		Unpaid  Principal  Balance		Related  Allowance
December 31, 2010
With no related allowance recorded:
Commercial	$	7,295	$	7,293	$	—
Commercial real estate mortgages	23,496		23,426		—
Residential mortgages:
Fixed	10,942		10,858		—
Variable	4,048		4,040		—
Total residential mortgages	14,990		14,898		—
Real estate construction:
Construction	75,778		75,639		—
Land	23,732		23,732		—
Total real estate construction	99,510		99,371		—
Equity lines of credit	3,006		2,997		—
Installment:
Consumer	41		41		—
Total installment	41		41		—
Lease financing	1,137		1,107		—
Total with no related allowance	$	149,475	$	149,133	$	—
With an allowance recorded:
Commercial	$	8,567	$	8,567	$	2,067
Commercial real estate mortgages	19,139		19,154		1,889
Residential mortgages:
Fixed	566		563		69
Variable	1,435		1,428		273
Total residential mortgages	2,001		1,991		342
Real estate construction:
Construction	8,850		8,850		366
Total real estate construction	8,850		8,850		366
Equity lines of credit	1,868		1,862		255
Lease financing	855		855		525
Total with an allowance	$	41,280	$	41,279	$	5,444
Total impaired loans by type:
Commercial	$	15,862	$	15,860	$	2,067
Commercial real estate mortgages	42,635		42,580		1,889
Residential mortgages	16,991		16,889		342
Real estate construction	108,360		108,221		366
Equity lines of credit	4,874		4,859		255
Installment	41		41		—
Lease financing	1,992		1,962		525
Total impaired loans	$	190,755	$	190,412	$	5,444

Information on impaired loans, excluding covered loans, at June 30, 2010 is provided in the following table:

	Unpaid Principal Balance
(in thousands)	With No  Allowance  Recorded		With  Allowance  Recorded		Total  Impaired  Loans		Related  Allowance
June 30, 2010
Commercial	$	23,910	$	16,595	$	40,505	$	6,368
Commercial real estate mortgage	9,974		42,579		52,553		6,350
Residential mortgages	9,700		1,109		10,809		90
Real estate construction	74,412		79,735		154,147		12,836
Equity lines of credit	1,200		—		1,200		—
Lease financing	1,647		1,120		2,767		895
Total impaired loans	$	120,843	$	141,138	$	261,981	$	26,539

Schedule of additional detail on impaired loans, excluding covered loans

(in thousands)	June 30, 2011		December 31, 2010		June 30, 2010
Nonaccrual loans (1)	$	119,375	$	179,578	$	251,807
Troubled debt restructured loans on accrual	1,208		10,834		10,174
Total impaired loans, excluding covered loans	$	120,583	$	190,412	$	261,981

(1) Impaired loans exclude $13.4 million, $11.3 million and $8.3 million of nonaccrual loans under $500,000 that are not individually evaluated for impairment at June 30, 2011, December 31, 2010 and June 30, 2010.

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
June 30, 2011
Commercial	$	18,270	$	622	$	351	$	23,575	$	42,818	$	4,378,081	$	4,420,899
Commercial real estate mortgages	15,342		—		586		26,676		42,604		1,887,665		1,930,269
Residential mortgages:
Fixed	—		—		1,282		10,036		11,318		1,664,751		1,676,069
Variable	—		1,317		—		4,175		5,492		2,029,204		2,034,696
Total residential mortgages	—		1,317		1,282		14,211		16,810		3,693,955		3,710,765
Real estate construction:
Construction	—		—		—		39,097		39,097		198,183		237,280
Land	—		—		4,995		21,446		26,441		91,293		117,734
Total real estate construction	—		—		4,995		60,543		65,538		289,476		355,014
Equity lines of credit	74		160		—		6,668		6,902		728,997		735,899
Installment:
Commercial	—		—		—		68		68		1,418		1,486
Consumer	95		40		—		297		432		129,006		129,438
Total installment	95		40		—		365		500		130,424		130,924
Lease financing	—		—		—		762		762		378,591		379,353
Total	$	33,781	$	2,139	$	7,214	$	132,800	$	175,934	$	11,487,189	$	11,663,123
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

(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
June 30, 2010
Commercial	$	29,781	$	2,898	$	149	$	44,431	$	77,259	$	3,858,285	$	3,935,544
Commercial real estate mortgages	5,442		1,422		—		57,155		64,019		2,013,984		2,078,003
Residential mortgages:
Fixed	—		2,773		640		7,002		10,415		1,663,212		1,673,627
Variable	—		1,256		—		4,504		5,760		1,898,507		1,904,267
Total residential mortgages	—		4,029		640		11,506		16,175		3,561,719		3,577,894
Real estate construction:
Construction	33,610		3,851		—		97,706		135,167		320,643		455,810
Land	1,025		—		—		41,203		42,228		131,864		174,092
Total real estate construction	34,635		3,851		—		138,909		177,395		452,507		629,902
Equity lines of credit	249		—		—		3,909		4,158		737,913		742,071
Installment:
Commercial	—		—		—		112		112		40,493		40,605
Consumer	172		44		—		860		1,076		127,389		128,465
Total installment	172		44		—		972		1,188		167,882		169,070
Lease financing	—		—		—		3,236		3,236		347,324		350,560
Total	$	70,279	$	12,244	$	789	$	260,118	$	343,430	$	11,139,614	$	11,483,044

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

	June 30, 2011
(in thousands)	Nonclassified		Classified		Total
Commercial	$	4,308,312	$	112,587	$	4,420,899
Commercial real estate mortgages	1,716,331		213,938		1,930,269
Residential mortgages:
Fixed	1,651,983		24,086		1,676,069
Variable	2,019,857		14,839		2,034,696
Total residential mortgages	3,671,840		38,925		3,710,765
Real estate construction:
Construction	128,584		108,696		237,280
Land	47,214		70,520		117,734
Total real estate construction	175,798		179,216		355,014
Equity lines of credit	717,536		18,363		735,899
Installment:
Commercial	656		830		1,486
Consumer	127,561		1,877		129,438
Total installment	128,217		2,707		130,924
Lease financing	374,784		4,569		379,353
Total	$	11,092,818	$	570,305	$	11,663,123

	December 31, 2010						June 30, 2010
(in thousands)	Nonclassified		Classified		Total		Nonclassified		Classified		Total
Commercial	$	4,009,923	$	126,951	$	4,136,874	$	3,731,182	$	204,362	$	3,935,544
Commercial real estate mortgages	1,727,353		230,964		1,958,317		1,856,382		221,621		2,078,003
Residential mortgages:
Fixed	1,615,970		27,076		1,643,046		1,644,380		29,247		1,673,627
Variable	1,880,570		28,696		1,909,266		1,856,508		47,759		1,904,267
Total residential mortgages	3,496,540		55,772		3,552,312		3,500,888		77,006		3,577,894
Real estate construction:
Construction	129,671		196,847		326,518		213,061		242,749		455,810
Land	53,400		87,867		141,267		71,892		102,200		174,092
Total real estate construction	183,071		284,714		467,785		284,953		344,949		629,902
Equity lines of credit	716,276		17,465		733,741		725,133		16,938		742,071
Installment:
Commercial	21,349		9,812		31,161		38,057		2,548		40,605
Consumer	126,905		2,078		128,983		125,523		2,942		128,465
Total installment	148,254		11,890		160,144		163,580		5,490		169,070
Lease financing	371,684		5,771		377,455		342,609		7,951		350,560
Total	$	10,653,101	$	733,527	$	11,386,628	$	10,604,727	$	878,317	$	11,483,044

Summary of the allowance for loan losses on covered loans

	For the three months ended June 30,						For the six months ended June 30,
(in thousands)	2011			2010			2011			2010
Balance, beginning of period	$	82,016		$	—		$	67,389		$	—
Provision for losses	1,716			46,516			20,832			46,516
Reduction in allowance due to loan removals	(16,103		)	(261		)	(20,592		)	(261		)
Balance, end of period	$	67,629		$	46,255		$	67,629		$	46,255