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

9 Months Ended

Sep. 30, 2011

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

	September 30,			December 31,			September 30,
(in thousands)	2011			2010			2010
Commercial	$	4,777,490		$	4,136,874		$	4,015,113
Commercial real estate mortgages	2,059,114			1,958,317			1,967,959
Residential mortgages	3,742,768			3,552,312			3,586,858
Real estate construction	335,712			467,785			575,060
Equity lines of credit	728,890			733,741			757,210
Installment	130,923			160,144			167,395
Lease financing	389,312			377,455			349,030
Loans and leases, excluding covered loans	12,164,209			11,386,628			11,418,625
Less: Allowance for loan and lease losses	(263,348		)	(257,007		)	(274,167		)
Loans and leases, excluding covered loans, net	11,900,861			11,129,621			11,144,458

Covered loans	1,611,856			1,857,522			1,960,190
Less: Allowance for loan losses	(61,753		)	(67,389		)	(50,057		)
Covered loans, net	1,550,103			1,790,133			1,910,133

Total loans and leases	$	13,776,065		$	13,244,150		$	13,378,815
Total loans and leases, net	$	13,450,964		$	12,919,754		$	13,054,591

Summary of major categories of covered loans

	September 30,			December 31,			September 30,
(in thousands)	2011			2010			2010
Commercial	$	35,535		$	55,082		$	68,701
Commercial real estate mortgages	1,391,181			1,569,739			1,630,265
Residential mortgages	16,428			18,380			19,190
Real estate construction	161,718			204,945			227,703
Equity lines of credit	5,282			6,919			9,790
Installment	1,712			2,457			4,541
Covered loans	1,611,856			1,857,522			1,960,190
Less: Allowance for loan losses	(61,753		)	(67,389		)	(50,057		)
Covered loans, net	$	1,550,103		$	1,790,133		$	1,910,133

Summary of acquired impaired loans

	For the nine months ended September 30,
(in thousands)	2011			2010
Balance, beginning of period	$	562,826		$	687,126
Additions	10,871			48,644
Accretion	(80,143		)	(88,325		)
Reclassifications from (to) nonaccretable yield	22,577			(120,315		)
Disposals and other	(46,544		)	(16,543		)
Balance, end of period	$	469,587		$	510,587

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 September 30, 2011

Allowance for loan and lease losses:
Beginning balance	$	85,717		$	49,060		$	12,873		$	29,455		$	6,668		$	1,951		$	80,209	$	265,933
Provision for credit losses (2)	2,772			(1,604		)	(691		)	2,269			(122		)	417			4,958		7,999
Charge-offs	(6,282		)	(1,231		)	(245		)	(6,434		)	(523		)	(457		)	—		(15,172		)
Recoveries	3,367			779			82			201			11			148			—		4,588
Net charge-offs	(2,915		)	(452		)	(163		)	(6,233		)	(512		)	(309		)	—		(10,584		)
Ending balance	$	85,574		$	47,004		$	12,019		$	25,491		$	6,034		$	2,059		$	85,167	$	263,348

Nine months ended September 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)	5,359			(12,541		)	(3,703		)	(13,503		)	194			(1,467		)	31,864		6,203
Charge-offs	(12,966		)	(4,127		)	(1,267		)	(8,897		)	(1,443		)	(913		)	—		(29,613		)
Recoveries	10,730			11,156			236			7,067			54			508			—		29,751
Net (charge-offs) recoveries	(2,236		)	7,029			(1,031		)	(1,830		)	(1,389		)	(405		)	—		138
Ending balance	$	85,574		$	47,004		$	12,019		$	25,491		$	6,034		$	2,059		$	85,167	$	263,348

Ending balance of allowance:
Individually evaluated for impairment	$	14,364		$	1,375		$	130		$	2,989		$	75		$	—		$	—	$	18,933
Collectively evaluated for impairment	71,210			45,629			11,889			22,502			5,959			2,059			85,167		244,415

Loans and leases, excluding covered loans
Ending balance of loans and leases:
Loans and leases excluding covered loans	$	5,166,802		$	2,059,114		$	3,742,768		$	335,712		$	728,890		$	130,923		$	—	$	12,164,209
Individually evaluated for impairment	32,489			25,898			10,226			82,584			6,630			648			—		158,475
Collectively evaluated for impairment	5,134,313			2,033,216			3,732,542			253,128			722,260			130,275			—		12,005,734

(1) Includes lease financing loans.

(2) Provision for credit losses in the allowance rollforward for the three months ended September 30, 2011 includes total provision for credit losses of $7.5 million and total transfers from the reserve for off-balance sheet credit commitments of $0.5 million. Provision for credit losses for the nine months ended September 30, 2011 includes total provision expense for credit losses of $7.5 million and total transfers to the reserve for off-balance sheet credit commitments of $1.3 million.

	For the three			For the nine
	months ended			months ended
(in thousands)	September 30, 2010			September 30, 2010
Allowance for loan and lease losses
Balance, beginning of period	$	290,492		$	288,493
Charge-offs
Commercial	(20,100		)	(60,850		)
Commercial real estate mortgages	(9,105		)	(24,556		)
Residential mortgages	(604		)	(2,684		)
Real estate construction	(3,771		)	(30,021		)
Equity lines of credit	(807		)	(1,363		)
Installment	(200		)	(1,702		)
Total charge-offs	(34,587		)	(121,176		)
Recoveries
Commercial	2,229			4,064
Commercial real estate mortgages	151			233
Residential mortgages	32			111
Real estate construction	3,810			4,933
Equity lines of credit	14			23
Installment	117			547
Total recoveries	6,353			9,911
Net loans charged-off	(28,234		)	(111,265		)
Provision for credit losses	13,000			100,000
Transfers to reserve for off-balance sheet credit commitments	(1,091		)	(3,061		)
Balance, end of period	$	274,167		$	274,167

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

	For the three months ended September 30,					For the nine months ended September 30,
(in thousands)	2011			2010		2011		2010
Balance, beginning of period	$	23,325		$	19,310	$	21,529	$	17,340
Transfers (to) from allowance for loan and lease losses	(499		)	1,091		1,297		3,061
Balance, end of period	$	22,826		$	20,401	$	22,826	$	20,401

Schedule of impaired loans, excluding covered loans

							For the three months ended September 30, 2011				For the nine months ended September 30, 2011
(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
September 30, 2011
With no related allowance recorded:
Commercial	$	4,768	$	4,762	$	—	$	4,388	$	—	$	5,618	$	—
Commercial real estate mortgages	16,461		16,460		—		15,536		42		18,265		232
Residential mortgages:
Fixed	4,452		4,433		—		6,143		9		7,367		171
Variable	3,810		3,807		—		3,986		14		3,823		48
Total residential mortgages	8,262		8,240		—		10,129		23		11,190		219
Real estate construction:
Construction	46,895		46,733		—		43,040		266		52,779		671
Land	23,739		23,864		—		17,505		—		20,568		—
Total real estate construction	70,634		70,597		—		60,545		266		73,347		671
Equity lines of credit	5,695		5,675		—		4,058		—		3,603		—
Installment:
Consumer	653		648		—		347		—		194		—
Total installment	653		648		—		347		—		194		—
Lease financing	466		448		—		614		—		868		99
Total with no related allowance	$	106,939	$	106,830	$	—	$	95,617	$	331	$	113,085	$	1,221

With an allowance recorded:
Commercial	$	26,802	$	27,279	$	14,364	$	20,635	$	—	$	14,190	$	—
Commercial real estate mortgages	9,438		9,438		1,375		9,299		—		11,259		—
Residential mortgages:
Fixed	528		524		—		534		—		797		—
Variable	1,464		1,462		130		732		—		1,078		—
Total residential mortgages	1,992		1,986		130		1,266		—		1,875		—
Real estate construction:
Construction	—		—		—		—		—		4,417		—
Land	11,931		11,987		2,989		11,053		—		5,527		—
Total real estate construction	11,931		11,987		2,989		11,053		—		9,944		—
Equity lines of credit	958		955		75		1,530		—		1,471		6
Installment:
Commercial	—		—		—		—		—		1,724		—
Total installment	—		—		—		—		—		1,724		—
Lease financing	—		—		—		—		—		214		—
Total with an allowance	$	51,121	$	51,645	$	18,933	$	43,783	$	—	$	40,677	$	6

Total impaired loans by type:
Commercial	$	31,570	$	32,041	$	14,364	$	25,023	$	—	$	19,808	$	—
Commercial real estate mortgages	25,899		25,898		1,375		24,835		42		29,524		232
Residential mortgages	10,254		10,226		130		11,395		23		13,065		219
Real estate construction	82,565		82,584		2,989		71,598		266		83,291		671
Equity lines of credit	6,653		6,630		75		5,588		—		5,074		6
Installment	653		648		—		347		—		1,918		—
Lease financing	466		448		—		614		—		1,082		99
Total impaired loans	$	158,060	$	158,475	$	18,933	$	139,400	$	331	$	153,762	$	1,227

(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

	Unpaid Principal Balance
(in thousands)	With No Allowance Recorded		With Allowance Recorded		Total Impaired Loans		Related Allowance
September 30, 2010
Commercial	$	7,005	$	18,029	$	25,034	$	10,245
Commercial real estate mortgage	14,522		34,742		49,264		4,706
Residential mortgages	14,111		1,428		15,539		22
Real estate construction	99,087		46,384		145,471		4,384
Equity lines of credit	2,303		883		3,186		30
Installment	41		90		131		44
Lease financing	792		855		1,647		855
Total impaired loans	$	137,861	$	102,411	$	240,272	$	20,286

Schedule of additional detail on impaired loans, excluding covered loans

(in thousands)	September 30, 2011		December 31, 2010		September 30, 2010
Nonaccrual loans (1)	$	136,660	$	179,578	$	229,382
Troubled debt restructured loans on accrual	21,815		10,834		10,890
Total impaired loans, excluding covered loans	$	158,475	$	190,412	$	240,272

(1) Impaired loans exclude $9.5 million, $11.3 million and $9.7 million of nonaccrual loans under $500,000 that are not individually evaluated for impairment at September 30, 2011, December 31, 2010 and September 30, 2010.

Schedule of troubled debt restructured loans

	September 30, 2011
(in thousands)	Number of Contracts	Pre-Modification Outstanding Principal		Period-End Outstanding Principal		Period-End Specific Reserve
Commercial	8	$	9,634	$	2,192	$	206
Commercial real estate mortgages	2	15,371		14,521		739
Residential mortgages:
Fixed	1	560		524		48
Variable	1	969		937		—
Total residential mortgages	2	1,529		1,461		48
Real estate construction:
Construction	3	36,649		20,617		—
Land	2	6,449		6,376		—
Total real estate construction	5	43,098		26,993		—
Lease financing	2	765		448		—
Total troubled debt restructured loans	19	$	70,397	$	45,615	$	993

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
September 30, 2011
Commercial	$	6,626	$	935	$	—	$	34,489	$	42,050	$	4,735,440	$	4,777,490
Commercial real estate mortgages	6,406		—		—		20,746		27,152		2,031,962		2,059,114
Residential mortgages:
Fixed	525		—		379		6,180		7,084		1,655,854		1,662,938
Variable	—		—		—		4,332		4,332		2,075,498		2,079,830
Total residential mortgages	525		—		379		10,512		11,416		3,731,352		3,742,768
Real estate construction:
Construction	—		—		—		34,976		34,976		200,524		235,500
Land	—		—		—		35,851		35,851		64,361		100,212
Total real estate construction	—		—		—		70,827		70,827		264,885		335,712
Equity lines of credit	74		—		—		8,401		8,475		720,415		728,890
Installment:
Commercial	—		—		—		12		12		1,371		1,383
Consumer	58		106		—		695		859		128,681		129,540
Total installment	58		106		—		707		871		130,052		130,923
Lease financing	—		—		—		448		448		388,864		389,312
Total	$	13,689	$	1,041	$	379	$	146,130	$	161,239	$	12,002,970	$	12,164,209

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
September 30, 2010
Commercial	$	9,910	$	5,629	$	641	$	27,692	$	43,872	$	3,971,241	$	4,015,113
Commercial real estate mortgages	4,655		2,667		—		50,366		57,688		1,910,271		1,967,959
Residential mortgages:
Fixed	—		2,989		379		10,406		13,774		1,644,885		1,658,659
Variable	—		770		—		5,853		6,623		1,921,576		1,928,199
Total residential mortgages	—		3,759		379		16,259		20,397		3,566,461		3,586,858
Real estate construction:
Construction	1,439		—		—		103,798		105,237		318,396		423,633
Land	—		9,250		—		31,980		41,230		110,197		151,427
Total real estate construction	1,439		9,250		—		135,778		146,467		428,593		575,060
Equity lines of credit	645		200		—		5,584		6,429		750,781		757,210
Installment:
Commercial	609		—		—		88		697		38,723		39,420
Consumer	66		4		—		976		1,046		126,929		127,975
Total installment	675		4		—		1,064		1,743		165,652		167,395
Lease financing	—		—		—		2,362		2,362		346,668		349,030
Total	$	17,324	$	21,509	$	1,020	$	239,105	$	278,958	$	11,139,667	$	11,418,625

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

	September 30, 2011
(in thousands)	Nonclassified		Classified		Total
Commercial	$	4,662,968	$	114,522	$	4,777,490
Commercial real estate mortgages	1,862,924		196,190		2,059,114
Residential mortgages:
Fixed	1,647,088		15,850		1,662,938
Variable	2,060,273		19,557		2,079,830
Total residential mortgages	3,707,361		35,407		3,742,768
Real estate construction:
Construction	145,941		89,559		235,500
Land	45,257		54,955		100,212
Total real estate construction	191,198		144,514		335,712
Equity lines of credit	712,514		16,376		728,890
Installment:
Commercial	1,371		12		1,383
Consumer	128,128		1,412		129,540
Total installment	129,499		1,424		130,923
Lease financing	384,870		4,442		389,312
Total	$	11,651,334	$	512,875	$	12,164,209

	December 31, 2010						September 30, 2010
(in thousands)	Nonclassified		Classified		Total		Nonclassified		Classified		Total
Commercial	$	4,009,923	$	126,951	$	4,136,874	$	3,852,269	$	162,844	$	4,015,113
Commercial real estate mortgages	1,727,353		230,964		1,958,317		1,722,912		245,047		1,967,959
Residential mortgages:
Fixed	1,615,970		27,076		1,643,046		1,626,920		31,739		1,658,659
Variable	1,880,570		28,696		1,909,266		1,878,322		49,877		1,928,199
Total residential mortgages	3,496,540		55,772		3,552,312		3,505,242		81,616		3,586,858
Real estate construction:
Construction	129,671		196,847		326,518		158,829		264,804		423,633
Land	53,400		87,867		141,267		61,874		89,553		151,427
Total real estate construction	183,071		284,714		467,785		220,703		354,357		575,060
Equity lines of credit	716,276		17,465		733,741		737,762		19,448		757,210
Installment:
Commercial	21,349		9,812		31,161		36,740		2,680		39,420
Consumer	126,905		2,078		128,983		125,158		2,817		127,975
Total installment	148,254		11,890		160,144		161,898		5,497		167,395
Lease financing	371,684		5,771		377,455		342,740		6,290		349,030
Total	$	10,653,101	$	733,527	$	11,386,628	$	10,543,526	$	875,099	$	11,418,625

Summary of the allowance for loan losses on covered loans

	For the three months ended September 30,						For the nine months ended September 30,
(in thousands)	2011			2010			2011			2010
Balance, beginning of period	$	67,629		$	46,255		$	67,389		$	—
Provision for losses	5,147			8,233			25,979			54,749
Charge-offs	(325		)	(414		)	(325		)	(414		)
Reduction in allowance due to loan removals	(10,698		)	(4,017		)	(31,290		)	(4,278		)
Balance, end of period	$	61,753		$	50,057		$	61,753		$	50,057