XML 97 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Loans (Tables)
 12 Months Ended
Dec. 31, 2013
Receivables [Abstract]  
Total originated, acquired and covered loans outstanding table
Loans outstanding as of December 31, 2013 and 2012, net of unearned income, consisted of the following:
 
 
December 31, 2013
 
December 31, 2012
Originated loans (a):
 
 
 
Commercial
$
6,648,279

 
$
5,866,489

Residential mortgage
529,253

 
445,211

Installment
1,727,925

 
1,328,258

Home equity
920,066

 
806,078

Credit cards
148,313

 
146,387

Leases
239,551

 
139,236

 
Total originated loans (a)
10,213,387

 
8,731,659

Allowance for originated loan losses
(96,484
)
 
(98,942
)
 
Net originated loans
$
10,116,903

 
$
8,632,717

Acquired loans:
 
 
 
Commercial
$
1,725,970

 
$
—

Residential mortgage
470,652

 
—

Installment
1,004,569

 
—

Home equity
294,424

 
—

 
Total acquired loans
3,495,615

 
—

Allowance for acquired loan losses
(741
)
 
—

 
Net acquired loans
$
3,494,874

 
$
—

Covered loans:
 
 
 
Commercial
375,860

 
718,437

Residential mortgage
50,679

 
61,540

Installment
6,162

 
8,189

Home equity
97,442

 
117,225

Loss share receivable
61,827

 
113,734

 
Total covered loans
591,970

 
1,019,125

Allowance for covered loan losses
(44,027
)
 
(43,255
)
 
Net covered loans
$
547,943

 
$
975,870

Total loans:
 
 
 
Commercial
$
8,750,109

 
$
6,584,926

Residential mortgage
1,050,584

 
506,751

Installment
2,738,656

 
1,336,447

Home equity
1,311,932

 
923,303

Credit cards
148,313

 
146,387

Leases
239,551

 
139,236

Loss share receivable
61,827

 
113,734

 
Total loans
14,300,972

 
9,750,784

Total allowance for loan losses
(141,252
)
 
(142,197
)
 
Total Net loans
$
14,159,720

 
$
9,608,587

 
 
 
 
 

(a) Includes acquired FirstBank loans of $49.2 million and $54.2 million as of December 31, 2013 and 2012, respectively.
Summary of loans to related parties table
An analysis of loan activity with related parties for the years ended December 31, 2013, 2012 and 2011 is summarized as follows:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Aggregate amount at beginning of year
$
16,578

 
$
15,629

 
$
15,723

New loans
11,507

 
3,500

 
2,458

Repayments
(4,374
)
 
(2,739
)
 
(2,552
)
Changes in directors and their affiliations
825

 
188

 
—

Aggregate amount at end of year
$
24,536

 
$
16,578

 
$
15,629

 
 
 
 
 
 
Changes in the Carrying Amount of Accretable Yield for Acquired Impaired Loans [Table Text Block]
Total outstanding acquired impaired loans as of December 31, 2013 were $817.6 million. Changes in the carrying amount and accretable yield for acquired impaired loans were as follows for the year end December 31, 2013:
 
Year Ended
 
December 31, 2013
Acquired Impaired Loans
Accretable Yield
 
Carrying Amount of Loans
Balance at beginning of period
$
—

 
$
—

Additions due to Citizens acquisition on April 12, 2013
131,558

 
819,715

Accretion
(27,144
)
 
27,144

Net reclassifications from nonaccretable to accretable
46,361

 
—

Payments received, net
—

 
(245,859
)
Disposals
(14,129
)
 
—

Balance at end of period
$
136,646

 
$
601,000

 
 
 
 
Changes in Loss Share Receivable Associated with Covered Loans
Changes in the loss share receivable associated with covered loans for the years ended December 31, 2013 and 2012, respectively, were as follows:
 
Year Ended
Loss Share Receivable
December 31, 2013
 
December 31, 2012
Balance at beginning of period
$
113,734

 
$
205,664

Amortization
(24,307
)
 
(34,903
)
Increase due to impairment on covered loans
10,790

 
14,728

FDIC reimbursement
(27,234
)
 
(58,099
)
Covered loans paid in full
(11,156
)
 
(13,656
)
Balance at end of period
$
61,827

 
$
113,734

 
 
 
 
Changes in Carrying Amount of Accretable Yield for Covered Impaired Loans
Changes in the carrying amount and accretable yield for covered impaired loans were as follows for the years ended December 31, 2013 and 2012:
 
Year Ended December 31,
 
2013
 
2012
Covered Impaired Loans
Accretable
Yield
 
Carrying
Amount of
Loans
 
Accretable
Yield
 
Carrying
Amount of
Loans
Balance at beginning of period
$
113,288

 
$
762,386

 
$
176,736

 
$
1,128,978

Accretion
(64,528
)
 
64,528

 
(96,748
)
 
96,748

Net reclassifications from nonaccretable to accretable
34,965

 
—

 
38,177

 
—

Payments received, net
—

 
(423,222
)
 
—

 
(463,340
)
Disposals
(16,442
)
 
—

 
(4,877
)
 
—

Balance at end of period
$
67,283

 
$
403,692

 
$
113,288

 
$
762,386

 
 
 
 
 
 
 
 
Past Due Financing Receivables
    
The following tables provide a summary of loans by portfolio type, including the delinquency status of those loans that continue to accrue interest and those loans that are nonaccrual:
As of December 31, 2013
Originated Loans
 
 
 
 
 
 
 
 
 
 
 
 
≥ 90 Days
 
 
 
Days Past Due
 
Total
 
 
 
Total
 
Past Due and
 
Nonaccrual
 
30-59
 
60-89
 
≥ 90
 
Past Due
 
Current
 
Loans
 
Accruing (a)
 
Loans
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I
$
8,941

 
$
994

 
$
10,622

 
$
20,557

 
$
4,119,010

 
$
4,139,567

 
$
151

 
$
11,323

CRE
4,507

 
2,400

 
9,688

 
16,595

 
2,153,192

 
2,169,787

 
460

 
14,229

Construction
351

 
21

 
66

 
438

 
338,487

 
338,925

 
—

 
122

Leases
902

 
—

 
—

 
902

 
238,649

 
239,551

 
—

 
—

Consumer
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Installment
15,433

 
4,050

 
4,462

 
23,945

 
1,703,980

 
1,727,925

 
3,735

 
3,681

Home equity lines
1,864

 
918

 
965

 
3,747

 
916,319

 
920,066

 
418

 
1,819

Credit cards
729

 
471

 
735

 
1,935

 
146,378

 
148,313

 
404

 
558

Residential mortgages
19,858

 
2,072

 
9,350

 
31,280

 
497,973

 
529,253

 
6,008

 
10,471

Total
$
52,585

 
$
10,926

 
$
35,888

 
$
99,399

 
$
10,113,988

 
$
10,213,387

 
$
11,176

 
$
42,203

Acquired Loans
 
 
 
 
 
 
 
 
 
 
 
≥ 90 Days
 
 
 
Days Past Due
 
Total
 
 
 
Total
 
Past Due and
 
Nonaccrual
 
30-59
 
60-89
 
≥ 90
 
Past Due
 
Current
 
Loans
 
Accruing
 
Loans
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I
$
1,295

 
$
862

 
$
3,744

 
$
5,901

 
$
788,178

 
$
794,079

 
$
40

 
$
795

CRE
5,603

 
5,281

 
26,366

 
37,250

 
881,395

 
918,645

 
403

 
651

     Construction
2,675

 
—

 
—

 
2,675

 
10,571

 
13,246

 
—

 
—

Consumer
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Installment
14,528

 
4,076

 
3,354

 
21,958

 
982,611

 
1,004,569

 
2,263

 
679

Home equity lines
4,774

 
1,933

 
3,606

 
10,313

 
284,111

 
294,424

 
1,039

 
1,300

Residential Mortgages
3,918

 
1,426

 
8,063

 
13,407

 
457,245

 
470,652

 
403

 
582

Total
$
32,793

 
$
13,578

 
$
45,133

 
$
91,504

 
$
3,404,111

 
$
3,495,615

 
$
4,148

 
$
4,007

Covered Loans (b)
 
 
 
 
 
 
 
 
 
 
 
 
≥ 90 Days
 
 
 
Days Past Due
 
Total
 
 
 
Total
 
Past Due and
 
Nonaccrual
 
30-59
 
60-89
 
≥ 90
 
Past Due
 
Current
 
Loans
 
Accruing (c)
 
Loans (c)
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I
$
836

 
$
1,489

 
$
12,957

 
$
15,282

 
$
60,955

 
$
76,237

 
 
 
 
CRE
2,855

 
3,443

 
103,077

 
109,375

 
164,219

 
273,594

 
 
 
 
Construction
2,191

 
1,917

 
20,388

 
24,496

 
1,533

 
26,029

 
 
 
 
Consumer
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Installment
33

 
—

 
—

 
33

 
6,130

 
6,163

 
 
 
 
Home equity lines
544

 
1,467

 
1,651

 
3,662

 
93,780

 
97,442

 
 
 
 
Residential mortgages
7,463

 
1,565

 
5,165

 
14,193

 
36,485

 
50,678

 
 
 
 
Total
$
13,922

 
$
9,881

 
$
143,238

 
$
167,041

 
$
363,102

 
$
530,143

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(a) Installment loans 90 days or more past due and accruing include $2.1 million of loans guaranteed by the U.S. government as of December 31, 2013.
(b) Excludes loss share receivable of $61.8 million as of December 31, 2013.
(c) Acquired impaired loans were not classified as nonperforming assets at December 31, 2013 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired impaired loans.
As of December 31, 2012
Originated Loans
 
 
 
 
 
 
 
 
 
 
 
 
≥ 90 Days
 
 
 
Days Past Due
 
Total
 
 
 
Total
 
Past Due and
 
Nonaccrual
 
30-59
 
60-89
 
≥ 90
 
Past Due
 
Current
 
Loans
 
Accruing (a)
 
Loans
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I
$
3,814

 
$
1,986

 
$
3,571

 
$
9,371

 
$
3,297,155

 
$
3,306,526

 
$
104

 
$
5,255

CRE
4,181

 
4,530

 
11,535

 
20,246

 
2,204,170

 
2,224,416

 
382

 
15,780

Construction
981

 
—

 
597

 
1,578

 
333,969

 
335,547

 
—

 
731

Leases
6

 
—

 
—

 
6

 
139,230

 
139,236

 
—

 
—

Consumer
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Installment
11,722

 
3,193

 
5,639

 
20,554

 
1,307,704

 
1,328,258

 
4,942

 
2,914

Home Equity Lines
1,584

 
880

 
1,227

 
3,691

 
802,387

 
806,078

 
475

 
1,557

Credit Cards
969

 
558

 
954

 
2,481

 
143,906

 
146,387

 
438

 
598

Residential Mortgages
13,291

 
2,488

 
5,231

 
21,010

 
424,201

 
445,211

 
3,076

 
9,852

Total
$
36,548

 
$
13,635

 
$
28,754

 
$
78,937

 
$
8,652,722

 
$
8,731,659

 
$
9,417

 
$
36,687

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Covered Loans (b)
 
 
 
 
 
 
 
 
 
 
 
 
≥ 90 Days
 
 
 
Days Past Due
 
Total
 
 
 
Total
 
Past Due and
 
Nonaccrual
 
30-59
 
60-89
 
≥ 90
 
Past Due
 
Current
 
Loans
 
Accruing (c)
 
Loans (c)
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I
$
931

 
$
981

 
$
24,111

 
$
26,023

 
$
102,486

 
$
128,509

 
n/a
 
n/a
CRE
4,130

 
15,019

 
172,444

 
191,593

 
348,002

 
539,595

 
n/a
 
n/a
Construction
589

 
7,925

 
34,314

 
42,828

 
7,505

 
50,333

 
n/a
 
n/a
Consumer
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Installment
1

 
65

 
21

 
87

 
8,102

 
8,189

 
n/a
 
n/a
Home equity lines
1,528

 
654

 
2,211

 
4,393

 
112,832

 
117,225

 
n/a
 
n/a
Residential mortgages
10,005

 
442

 
7,763

 
18,210

 
43,330

 
61,540

 
n/a
 
n/a
Total
$
17,184

 
$
25,086

 
$
240,864

 
$
283,134

 
$
622,257

 
$
905,391

 
n/a
 
n/a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(a) Installment loans 90 days or more past due and accruing include $3.4 million of loans guaranteed by the U.S. government as of December 31, 2012.
(b) Excludes loss share receivable of $113.7 million as of December 31, 2012.
(c) Acquired impaired loans were not classified as nonperforming assets at December 31, 2012 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired impaired loans
Financing Receivable Credit Quality Indicators

The following tables provide a summary of commercial loans by portfolio type and the Corporation's internal credit quality rating:
As of December 31, 2013
Originated Loans
 
 
 
 
 
 
 
 
Commercial
 
C&I
 
CRE
 
Construction
 
Leases
Grade 1
$
34,909

 
$
241

 
$
—

 
$
9,271

Grade 2
108,709

 
3,730

 
—

 
2,900

Grade 3
802,624

 
315,150

 
25,632

 
54,446

Grade 4
3,133,177

 
1,759,201

 
306,795

 
167,022

Grade 5
30,116

 
46,483

 
267

 
5,750

Grade 6
30,032

 
44,982

 
6,231

 
162

Grade 7
—

 
—

 
—

 
—

Total
$
4,139,567

 
$
2,169,787

 
$
338,925

 
$
239,551

Acquired Loans
 
 
 
 
 
 
 
 
Commercial
 
C&I
 
CRE
 
Construction
 
Leases
Grade 1
$
—

 
$
—

 
$
—

 
$
—

Grade 2
1,741

 
703

 
—

 
—

Grade 3
79,634

 
29,224

 
—

 
—

Grade 4
643,495

 
722,307

 
13,246

 
—

Grade 5
46,807

 
93,499

 
—

 
—

Grade 6
22,402

 
72,912

 
—

 
—

Grade 7
—

 
—

 
—

 
—

Total
$
794,079

 
$
918,645

 
$
13,246

 
$
—

Covered Loans
 
 
 
 
 
 
 
 
Commercial
 
C&I
 
CRE
 
Construction
 
Leases
Grade 1
$
—

 
$
—

 
$
—

 
$
—

Grade 2
968

 
—

 
—

 
—

Grade 3
—

 
—

 
—

 
—

Grade 4
41,115

 
113,863

 
601

 
—

Grade 5
427

 
6,219

 
—

 
—

Grade 6
31,621

 
153,318

 
23,208

 
—

Grade 7
2,106

 
194

 
2,220

 
—

Total
$
76,237

 
$
273,594

 
$
26,029

 
$
—

 
 
 
 
 
 
 
 

As of December 31, 2012
Originated Loans
 
 
 
 
 
 
 
 
Commercial
 
C&I
 
CRE
 
Construction
 
Leases
Grade 1
$
42,211

 
$
—

 
$
—

 
$
13,119

Grade 2
114,480

 
3,138

 
—

 
179

Grade 3
661,692

 
254,749

 
17,652

 
20,042

Grade 4
2,408,669

 
1,845,686

 
311,271

 
104,037

Grade 5
44,969

 
53,675

 
3,057

 
1,561

Grade 6
34,505

 
67,168

 
3,567

 
298

Grade 7
—

 
—

 
—

 
—

Total
$
3,306,526

 
$
2,224,416

 
$
335,547

 
$
139,236

Covered Loans
 
 
 
 
 
 
 
 
Commercial
 
C&I
 
CRE
 
Construction
 
Leases
Grade 1
$
—

 
$
—

 
$
—

 
$
—

Grade 2
1,526

 
—

 
—

 
—

Grade 3
—

 
—

 
—

 
—

Grade 4
73,480

 
214,987

 
476

 
—

Grade 5
3,215

 
30,708

 
1,331

 
—

Grade 6
47,468

 
292,158

 
45,838

 
—

Grade 7
2,820

 
1,742

 
2,688

 
—

Total
$
128,509

 
$
539,595

 
$
50,333

 
$
—