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Loans And Allowance For Loan Losses (Tables)
 6 Months Ended
Jun. 30, 2012
Loans And Allowance For Loan Losses [Abstract]  
Summary Classification Of Held To Maturity Loan Portfolio
Major classifications within the Company’s held to maturity loan portfolio at June 30, 2012 and December 31, 2011 are as follows:

(In thousands)
 
June 30, 2012
 
December 31, 2011
Commercial:
 
 
 
 
Business
 
$
2,993,067

 
$
2,808,265

Real estate – construction and land
 
346,048

 
386,598

Real estate – business
 
2,190,838

 
2,180,100

Personal Banking:
 
 
 
 
Real estate – personal
 
1,501,170

 
1,428,777

Consumer
 
1,162,532

 
1,114,889

Revolving home equity
 
447,601

 
463,587

Consumer credit card
 
732,388

 
788,701

Overdrafts
 
3,271

 
6,561

Total loans
 
$
9,376,915

 
$
9,177,478
Summary Of Activity In The Allowance For Loan Losses
A summary of the activity in the allowance for loan losses during the three and six months ended June 30, 2012 follows:
 
 
For the Three Months Ended June 30
 
For the Six Months Ended June 30

(In thousands)
 
Commercial
Personal Banking

Total
 
Commercial
Personal Banking

Total
Balance at beginning of period
$
117,474

$
64,058

$
181,532

 
$
122,497

$
62,035

$
184,532

Provision
(4,448
)
9,663

5,215

 
(7,646
)
21,026

13,380

Deductions:
 
 
 
 
 
 
 
   Loans charged off
3,179

13,841

17,020

 
5,707

27,230

32,937

   Less recoveries on loans
4,824

3,982

8,806

 
5,527

8,031

13,558

Net loans charged off
(1,645
)
9,859

8,214

 
180

19,199

19,379

Balance June 30, 2012
$
114,671

$
63,862

$
178,533

 
$
114,671

$
63,862

$
178,533


A summary of the activity in the allowance for loan losses during the three and six months ended June 30, 2011 follows:

 
 
For the Three Months Ended June 30
 
For the Six Months Ended June 30
(In thousands)
 
Commercial
Personal Banking

Total
 
Commercial
Personal Banking

Total
Balance at beginning of period
$
128,351

$
66,187

$
194,538

 
$
119,946

$
77,592

$
197,538

Provision
1,815

10,373

12,188

 
15,280

12,697

27,977

Deductions:
 
 
 
 
 
 
 
   Loans charged off
3,946

15,656

19,602

 
10,310

32,681

42,991

   Less recoveries on loans
1,043

3,371

4,414

 
2,347

6,667

9,014

Net loans charged off
2,903

12,285

15,188

 
7,963

26,014

33,977

Balance June 30, 2011
$
127,263

$
64,275

$
191,538

 
$
127,263

$
64,275

$
191,538
Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology
The following table shows the balance in the allowance for loan losses and the related loan balance at June 30, 2012 and December 31, 2011, disaggregated on the basis of impairment methodology. Impaired loans evaluated under ASC 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans discussed below, which are deemed to have similar risk characteristics and are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.

 
Impaired Loans
 
All Other Loans

(In thousands)
Allowance for Loan Losses
Loans Outstanding
 
Allowance for Loan Losses
Loans Outstanding
June 30, 2012
 
 
 
 
 
Commercial
$
6,624

$
108,916

 
$
108,047

$
5,421,037

Personal Banking
2,046

26,979

 
61,816

3,819,983

Total
$
8,670

$
135,895

 
$
169,863

$
9,241,020

December 31, 2011
 
 
 
 
 
Commercial
$
6,668

$
108,167

 
$
115,829

$
5,266,796

Personal Banking
4,090

31,088

 
57,945

3,771,427

Total
$
10,758

$
139,255

 
$
173,774

$
9,038,223
Investment In Impaired Loans

The table below shows the Company’s investment in impaired loans at June 30, 2012 and December 31, 2011. These loans consist of loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings under ASC 310-40. The restructured loans have been extended to borrowers who are experiencing financial difficulty and who have been granted a concession. They are largely comprised of certain business, construction and business real estate loans classified as substandard. Upon maturity, the loans renewed at interest rates that were judged not to be market rates for new debt with similar risk, and as a result were classified as troubled debt restructurings. These loans totaled $57.2 million at June 30, 2012 and $41.3 million at December 31, 2011. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. Restructured loans also include certain credit card loans under various debt management and assistance programs, which totaled $16.5 million at June 30, 2012 and $22.4 million at December 31, 2011.

(In thousands)
 
June 30, 2012
 
Dec. 31, 2011
Non-accrual loans
 
$
62,177

 
$
75,482

Restructured loans (accruing)
 
73,718

 
63,773

Total impaired loans
 
$
135,895

 
$
139,255
Additional Information About Impaired Loans Held
The following table provides additional information about impaired loans held by the Company at June 30, 2012 and December 31, 2011, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.



(In thousands)
Recorded Investment
Unpaid Principal
Balance
 Related
Allowance
June 30, 2012
 
 
 
With no related allowance recorded:
 
 
 
Business
$
9,704

$
11,756

$
—

Real estate – construction and land
10,796

18,841

—

Real estate – business
11,642

15,558

—

Real estate – personal
750

773

—

Revolving home equity
511

843

—

 
$
33,403

$
47,771

$
—

With an allowance recorded:
 
 
 
Business
$
28,453

$
31,912

$
2,488

Real estate – construction and land
29,191

44,523

2,664

Real estate – business
19,130

24,226

1,472

Real estate – personal
7,551

10,701

673

Consumer
1,559

1,599

42

Revolving home equity
118

367

4

Consumer credit card
16,490

16,490

1,327

 
$
102,492

$
129,818

$
8,670

Total
$
135,895

$
177,589

$
8,670

December 31, 2011
 
 
 
With no related allowance recorded:
 
 
 
Business
$
19,759

$
22,497

$
—

Real estate – construction and land
8,391

22,746

—

Real estate – business
6,853

9,312

—

Real estate – personal
793

793

—

 
$
35,796

$
55,348

$
—

With an allowance recorded:
 
 
 
Business
$
15,604

$
19,286

$
1,500

Real estate – construction and land
37,387

47,516

2,580

Real estate – business
20,173

24,799

2,588

Real estate – personal
7,867

10,671

795

Consumer credit card
22,428

22,428

3,295

 
$
103,459

$
124,700

$
10,758

Total
$
139,255

$
180,048

$
10,758
Total Average Impaired Loans
Total average impaired loans for the three and six month periods ending June 30, 2012 and 2011, respectively, are shown in the table below.


(In thousands)
Commercial
Personal Banking
Total
Average Impaired Loans:
 
 
 
For the Three Months Ended June 30, 2012
 
 
 
Non-accrual loans
$
58,662

$
7,165

$
65,827

Restructured loans (accruing)
50,102

20,324

70,426

Total
$
108,764

$
27,489

$
136,253

For the Six Months Ended June 30, 2012
 
 
 
Non-accrual loans
$
63,113

$
7,287

$
70,400

Restructured loans (accruing)
45,164

21,939

67,103

Total
$
108,277

$
29,226

$
137,503

For the Three Months Ended June 30, 2011
 
 
 
Non-accrual loans
$
69,104

$
7,063

$
76,167

Restructured loans (accruing)
46,037

21,679

67,716

Total
$
115,141

$
28,742

$
143,883

For the Six Months ended June 30, 2011
 
 
 
Non-accrual loans
$
72,186

$
7,045

$
79,231

Restructured loans (accruing)
44,495

21,107

65,602

Total
$
116,681

$
28,152

$
144,833
Interest Income Recognized On Impaired Loans
The table below shows interest income recognized during the three and six month periods ending June 30, 2012 and 2011 for impaired loans held at the end of each respective period. This interest relates to accruing restructured loans, as discussed above.

 
For the Three Months Ended June 30
 
For the Six Months Ended June 30
(In thousands)
2012
2011
 
2012
2011
Interest income recognized on impaired loans:
 
 
 
 
 
Business
$
236

$
85

 
$
471

$
170

Real estate – construction and land
249

186

 
498

373

Real estate – business
105

204

 
210

407

Real estate – personal
9

7

 
17

14

Consumer
19

—

 
38

—

Revolving home equity
1

—

 
1

—

Consumer credit card
321

447

 
642

894

Total
$
940

$
929

 
$
1,877

$
1,858
Aging Information On Past Due And Nonaccrual Loans
The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at June 30, 2012 and December 31, 2011.



(In thousands)
Current or Less Than 30 Days Past Due

30 – 89
Days Past Due
90 Days Past Due and Still Accruing
Non-accrual



Total
June 30, 2012
 
 
 
 
 
Commercial:
 
 
 
 
 
Business
$
2,972,009

$
6,416

$
519

$
14,123

$
2,993,067

Real estate – construction and land
326,022

1,828

—

18,198

346,048

Real estate – business
2,168,201

1,083

—

21,554

2,190,838

Personal Banking:
 
 
 
 
 
Real estate – personal
1,481,713

10,106

1,735

7,616

1,501,170

Consumer
1,151,696

9,280

1,425

131

1,162,532

Revolving home equity
445,096

1,270

680

555

447,601

Consumer credit card
716,799

8,651

6,938

—

732,388

Overdrafts
2,839

432

—

—

3,271

Total
$
9,264,375

$
39,066

$
11,297

$
62,177

$
9,376,915

December 31, 2011
 
 
 
 
 
Commercial:
 
 
 
 
 
Business
$
2,777,578

$
4,368

$
595

$
25,724

$
2,808,265

Real estate – construction and land
362,592

1,113

121

22,772

386,598

Real estate – business
2,151,822

8,875

29

19,374

2,180,100

Personal Banking:
 
 
 
 
 
Real estate – personal
1,406,449

11,671

3,045

7,612

1,428,777

Consumer
1,096,742

15,917

2,230

—

1,114,889

Revolving home equity
461,941

1,003

643

—

463,587

Consumer credit card
769,922

10,484

8,295

—

788,701

Overdrafts
6,173

388

—

—

6,561

Total
$
9,033,219

$
53,819

$
14,958

$
75,482

$
9,177,478
Credit Quality Of Commercial Loan Portfolio
The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is attached to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.

Commercial Loans


(In thousands)


Business
Real
 Estate-Construction
Real
Estate-
Business


Total
June 30, 2012
 
 
 
 
Pass
$
2,857,378

$
278,895

$
2,038,169

$
5,174,442

Special mention
65,052

5,739

49,057

119,848

Substandard
56,514

43,216

82,058

181,788

Non-accrual
14,123

18,198

21,554

53,875

Total
$
2,993,067

$
346,048

$
2,190,838

$
5,529,953

December 31, 2011
 
 
 
 
Pass
$
2,669,868

$
304,408

$
1,994,391

$
4,968,667

Special mention
37,460

4,722

52,683

94,865

Substandard
75,213

54,696

113,652

243,561

Non-accrual
25,724

22,772

19,374

67,870

Total
$
2,808,265

$
386,598

$
2,180,100

$
5,374,963
Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding
For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at June 30, 2012 and December 31, 2011 by FICO score.
   Personal Banking Loans
 
% of Loan Category
 
Real Estate - Personal
Consumer
Revolving Home Equity
Consumer Credit Card
June 30, 2012
 
 
 
 
FICO score:
 
 
 
 
Under 600
3.0
%
7.4
%
2.4
%
4.7
%
600 - 659
4.2

11.3

5.7

11.6

660 - 719
11.7

24.1

16.2

32.3

720 - 779
30.2

25.8

29.7

28.4

780 and Over
50.9

31.4

46.0

23.0

Total
100.0
%
100.0
%
100.0
%
100.0
%
December 31, 2011
 
 
 
 
FICO score:
 
 
 
 
Under 600
3.4
%
8.4
%
2.6
%
4.9
%
600 - 659
4.1

11.0

4.9

11.2

660 - 719
12.2

23.2

15.1

31.0

720 - 779
29.2

26.0

26.3

29.0

780 and Over
51.1

31.4

51.1

23.9

Total
100.0
%
100.0
%
100.0
%
100.0
%
Outstanding Balance Of Loans Classified As Troubled Debt Restructurings
The following table shows the outstanding balances at June 30, 2012 of loans classified as troubled debt restructurings, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the previous twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.
(In thousands)
June 30, 2012
Balance 90 days past due at any time during previous 12 months
Commercial:
 
 
Business
$
33,687

$
—

Real estate - construction and land
35,649

10,140

Real estate - business
13,221

1,765

Personal Banking:
 
 
Real estate - personal
2,852

553

Consumer
1,428

119

Revolving home equity
73

—

Consumer credit card
16,491

1,126

Total restructured loans
$
103,401

$
13,703