XML 34 R24.htm IDEA: XBRL DOCUMENT v3.7.0.1
Loans And Allowance For Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2017
Loans And Allowance For Loan Losses [Abstract]  
Summary Classification Of Held To Maturity Loan Portfolio
Major classifications within the Company’s held for investment loan portfolio at March 31, 2017 and December 31, 2016 are as follows:

(In thousands)
 
March 31, 2017
 
December 31, 2016
Commercial:
 
 
 
 
Business
 
$
4,888,011

 
$
4,776,365

Real estate – construction and land
 
846,904

 
791,236

Real estate – business
 
2,710,595

 
2,643,374

Personal Banking:
 
 
 
 
Real estate – personal
 
2,013,437

 
2,010,397

Consumer
 
1,975,521

 
1,990,801

Revolving home equity
 
396,542

 
413,634

Consumer credit card
 
736,766

 
776,465

Overdrafts
 
4,733

 
10,464

Total loans
 
$
13,572,509

 
$
13,412,736
Summary Of Activity In The Allowance For Loan Losses
A summary of the activity in the allowance for loan losses during the three months ended March 31, 2017 and 2016, respectively, follows:
 
 
For the Three Months Ended March 31
(In thousands)
 
Commercial
Personal Banking

Total
Balance January 1
$
91,361

$
64,571

$
155,932

Provision
1,113

10,015

11,128

Deductions:
 
 
 
   Loans charged off
546

12,330

12,876

   Less recoveries on loans
1,023

2,625

3,648

Net loan charge-offs (recoveries)
(477
)
9,705

9,228

Balance March 31, 2017
$
92,951

$
64,881

$
157,832

Balance January 1
$
82,086

$
69,446

$
151,532

Provision
4,151

5,288

9,439

Deductions:
 
 
 
   Loans charged off
1,513

11,777

13,290

   Less recoveries on loans
1,303

3,148

4,451

Net loan charge-offs (recoveries)
210

8,629

8,839

Balance March 31, 2016
$
86,027

$
66,105

$
152,132
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 March 31, 2017 and December 31, 2016, 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
March 31, 2017
 
 
 
 
 
Commercial
$
1,352

$
40,140

 
$
91,599

$
8,405,370

Personal Banking
1,475

20,592

 
63,406

5,106,407

Total
$
2,827

$
60,732

 
$
155,005

$
13,511,777

December 31, 2016
 
 
 
 
 
Commercial
$
1,817

$
44,795

 
$
89,544

$
8,166,180

Personal Banking
1,292

19,737

 
63,279

5,182,024

Total
$
3,109

$
64,532

 
$
152,823

$
13,348,204
Investment In Impaired Loans
The table below shows the Company’s investment in impaired loans at March 31, 2017 and December 31, 2016. These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. 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. They are discussed further in the "Troubled debt restructurings" section on page 13.
(In thousands)
 
Mar. 31, 2017
 
Dec. 31, 2016
Non-accrual loans
 
$
14,803

 
$
14,283

Restructured loans (accruing)
 
45,929

 
50,249

Total impaired loans
 
$
60,732

 
$
64,532
Additional Information About Impaired Loans Held
The following table provides additional information about impaired loans held by the Company at March 31, 2017 and December 31, 2016, 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
March 31, 2017
 
 
 
With no related allowance recorded:
 
 
 
Business
$
6,527

$
9,785

$
—

Real estate – construction and land
546

752

—

 
$
7,073

$
10,537

$
—

With an allowance recorded:
 
 
 
Business
$
25,360

$
25,958

$
879

Real estate – construction and land
99

1,852

8

Real estate – business
7,608

9,054

465

Real estate – personal
6,205

9,070

550

Consumer
6,427

6,466

265

Revolving home equity
613

613

2

Consumer credit card
7,347

7,347

658

 
$
53,659

$
60,360

$
2,827

Total
$
60,732

$
70,897

$
2,827

December 31, 2016
 
 
 
With no related allowance recorded:
 
 
 
Business
$
7,375

$
10,470

$
—

Real estate – construction and land
557

752

—

 
$
7,932

$
11,222

$
—

With an allowance recorded:
 
 
 
Business
$
29,924

$
31,795

$
1,318

Real estate – construction and land
69

72

3

Real estate – business
6,870

8,072

496

Real estate – personal
6,394

9,199

642

Consumer
5,281

5,281

57

Revolving home equity
584

584

1

Consumer credit card
7,478

7,478

592

 
$
56,600

$
62,481

$
3,109

Total
$
64,532

$
73,703

$
3,109
Total Average Impaired Loans
Total average impaired loans for the three month periods ended March 31, 2017 and 2016, respectively, are shown in the table below.

(In thousands)
Commercial
Personal Banking
Total
Average Impaired Loans:
 
 
 
For the three months ended March 31, 2017
 
 
 
Non-accrual loans
$
10,613

$
3,509

$
14,122

Restructured loans (accruing)
31,885

16,204

48,089

Total
$
42,498

$
19,713

$
62,211

For the three months ended March 31, 2016
 
 
 
Non-accrual loans
$
21,004

$
4,623

$
25,627

Restructured loans (accruing)
27,179

17,701

44,880

Total
$
48,183

$
22,324

$
70,507
Interest Income Recognized On Impaired Loans
The table below shows interest income recognized during the three month periods ended March 31, 2017 and 2016, respectively, for impaired loans held at the end of each respective period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section on page 13.
 
For the Three Months Ended March 31
(In thousands)
2017
2016
Interest income recognized on impaired loans:
 
 
Business
$
263

$
274

Real estate – construction and land
1

2

Real estate – business
62

36

Real estate – personal
37

46

Consumer
82

90

Revolving home equity
6

5

Consumer credit card
135

146

Total
$
586

$
599
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 March 31, 2017 and December 31, 2016.




(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
March 31, 2017
 
 
 
 
 
Commercial:
 
 
 
 
 
Business
$
4,875,924

$
3,653

$
499

$
7,935

$
4,888,011

Real estate – construction and land
841,191

5,128

—

585

846,904

Real estate – business
2,700,322

8,509

—

1,764

2,710,595

Personal Banking:
 
 
 
 
 
Real estate – personal
2,002,185

5,661

2,223

3,368

2,013,437

Consumer
1,951,333

20,950

2,087

1,151

1,975,521

Revolving home equity
394,832

1,001

709

—

396,542

Consumer credit card
717,987

9,389

9,390

—

736,766

Overdrafts
4,501

232

—

—

4,733

Total
$
13,488,275

$
54,523

$
14,908

$
14,803

$
13,572,509

December 31, 2016
 
 
 
 
 
Commercial:
 
 
 
 
 
Business
$
4,763,274

$
3,735

$
674

$
8,682

$
4,776,365

Real estate – construction and land
789,633

1,039

—

564

791,236

Real estate – business
2,639,586

2,154

—

1,634

2,643,374

Personal Banking:
 
 
 
 
 
Real estate – personal
1,995,724

9,162

2,108

3,403

2,010,397

Consumer
1,957,358

29,783

3,660

—

1,990,801

Revolving home equity
411,483

1,032

1,119

—

413,634

Consumer credit card
757,443

10,187

8,835

—

776,465

Overdrafts
10,014

450

—

—

10,464

Total
$
13,324,515

$
57,542

$
16,396

$
14,283

$
13,412,736
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 applied 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
March 31, 2017
 
 
 
 
Pass
$
4,702,536

$
843,213

$
2,611,540

$
8,157,289

Special mention
131,318

1,961

40,058

173,337

Substandard
46,222

1,145

57,233

104,600

Non-accrual
7,935

585

1,764

10,284

Total
$
4,888,011

$
846,904

$
2,710,595

$
8,445,510

December 31, 2016
 
 
 
 
Pass
$
4,607,553

$
788,778

$
2,543,348

$
7,939,679

Special mention
116,642

722

45,479

162,843

Substandard
43,488

1,172

52,913

97,573

Non-accrual
8,682

564

1,634

10,880

Total
$
4,776,365

$
791,236

$
2,643,374

$
8,210,975
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 March 31, 2017 and December 31, 2016 by FICO score.
   Personal Banking Loans
 
% of Loan Category
 
Real Estate - Personal
Consumer
Revolving Home Equity
Consumer Credit Card
March 31, 2017
 
 
 
 
FICO score:
 
 
 
 
Under 600
1.3
%
3.6
%
1.0
%
5.3
%
600 - 659
2.7

6.1

1.9

16.0

660 - 719
10.5

19.5

8.6

35.6

720 - 779
25.3

27.2

22.9

25.0

780 and over
60.2

43.6

65.6

18.1

Total
100.0
%
100.0
%
100.0
%
100.0
%
December 31, 2016
 
 
 
 
FICO score:
 
 
 
 
Under 600
1.3
%
3.4
%
1.0
%
4.9
%
600 - 659
2.6

6.4

1.8

15.5

660 - 719
10.4

19.7

9.7

34.9

720 - 779
25.4

26.3

21.1

25.1

780 and over
60.3

44.2

66.4

19.6

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 of loans classified as troubled debt restructurings at March 31, 2017, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past 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)
March 31, 2017
Balance 90 days past due at any time during previous 12 months
Commercial:
 
 
Business
$
30,546

$
—

Real estate - construction and land
546

—

Real estate - business
5,844

—

Personal Banking:
 
 
Real estate - personal
4,037

422

Consumer
5,336

34

Revolving home equity
613

6

Consumer credit card
7,347

768

Total restructured loans
$
54,269

$
1,230