Loans and leases and the allowance for credit losses (Tables)

6 Months Ended

Jun. 30, 2011

Loans and leases and the allowance for credit losses (Tables) [Abstract]

Outstanding principal balance and the carrying amount of loans that is included in the consolidated balance sheet

	(in thousands)
Outstanding principal balance	$	10,445,425
Carrying amount		9,268,721

Summary of current, past due and nonaccrual loans

			30-89 Days		90 Days or more		Purchased
	Current		past due		past due and accruing		impaired		Nonaccrual		Total
June 30, 2011					(in thousands)
Commercial, financial, leasing, etc.	$	14,791,110		24,900		23,488		37,773		163,621		15,040,892
Real estate:
Commercial		18,900,107		104,668		85,938		226,083		234,171		19,550,967
Residential builder and developer		1,047,647		39,246		28,606		366,879		359,152		1,841,530
Other commercial construction		2,635,409		37,360		32,173		51,435		114,852		2,871,229
Residential		5,737,580		211,506		199,109		64,327		187,471		6,399,993
Residential Alt-A		426,437		37,050		—		—		107,441		570,928
Consumer:
Home equity lines and loans		6,740,046		37,438		—		5,097		49,941		6,832,522
Automobile		2,767,206		49,518		—		—		27,724		2,844,448
Other		2,529,971		38,880		3,883		1,384		14,602		2,588,720
Total	$	55,575,513		580,566		373,197		752,978		1,258,975		58,541,229

			30-89 Days		90 Days or more		Purchased
	Current		past due		past due and accruing		impaired		Nonaccrual		Total
December 31, 2010					(in thousands)
Commercial, financial, leasing, etc.	$	13,088,887		96,087		16,647		2,250		186,739		13,390,610
Real estate:
Commercial		16,589,240		89,906		35,338		8,275		209,031		16,931,790
Residential builder and developer		891,764		30,805		9,763		72,710		346,448		1,351,490
Other commercial construction		2,723,399		36,420		11,323		2,098		126,641		2,899,881
Residential		4,699,711		229,641		192,276		9,320		172,729		5,303,677
Residential Alt-A		475,236		42,674		—		—		106,469		624,379
Consumer:
Home equity lines and loans		6,472,563		38,367		—		2,366		43,055		6,556,351
Automobile		2,608,230		44,604		—		—		31,892		2,684,726
Other		2,190,353		36,689		4,246		—		16,190		2,247,478
Total	$	49,739,383		645,193		269,593		97,019		1,239,194		51,990,382

Changes in the allowance for credit losses

     Changes in the allowance for credit losses for the three months ended June 30, 2011 were as follows:

	Commercial,
	Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated			Total
							(in thousands)
Beginning balance	$	215,659			391,107			87,526			137,351			72,060			903,703
Provision for credit losses		6,870			22,735			13,654			19,852			(111	)		63,000
Net charge-offs
Charge-offs		(14,923	)		(15,915	)		(15,872	)		(24,940	)		—			(71,650	)
Recoveries		2,273			3,184			2,033			5,046			—			12,536
Net charge-offs		(12,650	)		(12,731	)		(13,839	)		(19,894	)		—			(59,114	)
Ending balance	$	209,879			401,111			87,341			137,309			71,949			907,589

     Changes in the allowance for credit losses for the six months ended June 30, 2011 were as follows:

	Commercial,
	Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated		Total
							(in thousands)
Beginning balance	$	212,579			400,562			86,351			133,067			70,382		902,941
Provision for credit losses		21,812			37,510			29,495			47,616			1,567		138,000
Net charge-offs
Charge-offs		(28,950	)		(40,494	)		(32,039	)		(53,261	)		—		(154,744	)
Recoveries		4,438			3,533			3,534			9,887			—		21,392
Net charge-offs		(24,512	)		(36,961	)		(28,505	)		(43,374	)		—		(133,352	)
Ending balance	$	209,879			401,111			87,341			137,309			71,949		907,589

Allowance for credit Losses

	Three months ended			Six months ended
	June 30, 2010			June 30, 2010
	(in thousands)
Beginning balance	$	891,265		$	878,022
Provision for credit losses		85,000			190,000
Consolidation of loan securitization trusts		—			2,752
Net charge-offs
Charge-offs		(105,346	)		(211,385	)
Recoveries		23,748			35,278
Net charge-offs		(81,598	)		(176,107	)
Ending balance	$	894,667		$	894,667

Impaired loans and leases

	June 30, 2011						December 31, 2010
	Recorded		Unpaid principal		Related		Recorded		Unpaid principal		Related
	investment		balance		allowance		investment		balance		allowance
					(in thousands)
With an allowance recorded:
Commercial, financial, leasing, etc.	$	94,843		137,532		32,827		121,744		170,888		40,909
Real estate:
Commercial		132,723		169,915		29,670		110,975		140,015		17,393
Residential builder and developer		178,636		224,646		79,506		263,545		295,031		78,597
Other commercial construction		87,407		94,610		13,073		80,934		85,432		22,067
Residential		86,574		105,454		3,044		73,006		85,279		3,375
Residential Alt-A		165,539		176,915		32,000		180,665		191,445		36,000
Consumer:
Home equity lines and loans		12,050		13,497		2,547		11,799		13,378		2,227
Automobile		57,827		57,827		12,351		58,858		58,858		12,597
Other		4,209		4,209		998		2,978		2,978		768
		819,808		984,605		206,016		904,504		1,043,304		213,933
With no related allowance recorded:
Commercial, financial, leasing, etc.		75,477		100,760		—		65,827		86,332		—
Real estate:
Commercial		105,755		122,637		—		101,939		116,316		—
Residential builder and developer		207,803		259,984		—		100,799		124,383		—
Other commercial construction		27,989		31,712		—		46,656		50,496		—
Residential		15,483		21,383		—		5,035		7,723		—
Residential Alt-A		30,607		52,986		—		28,967		47,879		—
		463,114		589,462		—		349,223		433,129		—
Total:
Commercial, financial, leasing, etc.		170,320		238,292		32,827		187,571		257,220		40,909
Real estate:
Commercial		238,478		292,552		29,670		212,914		256,331		17,393
Residential builder and developer		386,439		484,630		79,506		364,344		419,414		78,597
Other commercial construction		115,396		126,322		13,073		127,590		135,928		22,067
Residential		102,057		126,837		3,044		78,041		93,002		3,375
Residential Alt-A		196,146		229,901		32,000		209,632		239,324		36,000
Consumer:
Home equity lines and loans		12,050		13,497		2,547		11,799		13,378		2,227
Automobile		57,827		57,827		12,351		58,858		58,858		12,597
Other		4,209		4,209		998		2,978		2,978		768
Total	$	1,282,922		1,574,067		206,016		1,253,727		1,476,433		213,933

Interest income recognized on loans

	Three months ended						Three months ended
	June 30, 2011						June 30, 2010
			Interest income						Interest income
			recognized						recognized
	Average						Average
	recorded				Cash		recorded				Cash
	investment		Total		basis		investment		Total		basis
					(in thousands)
Commercial, financial, leasing, etc.	$	180,000		767		754		297,364		775		765
Real estate:
Commercial		233,931		513		483		237,121		139		121
Residential builder and developer		358,421		312		110		307,857		671		406
Other commercial construction		107,494		142		105		49,894		17		17
Residential		97,317		1,035		551		60,593		681		432
Residential Alt-A		199,056		1,991		409		223,430		2,144		447
Consumer:
Home equity lines and loans		12,069		190		24		11,993		167		25
Automobile		58,650		984		293		53,497		910		318
Other		3,544		55		10		3,221		63		15
Total	$	1,250,482		5,989		2,739		1,244,970		5,567		2,546

	Six months ended						Six months ended
	June 30, 2011						June 30, 2010
			Interest income						Interest income
			recognized						recognized
	Average						Average
	recorded				Cash		recorded				Cash
	investment		Total		basis		investment		Total		basis
					(in thousands)
Commercial, financial, leasing, etc.	$	183,482		1,774		1,755		307,404		1,230		1,220
Real estate:
Commercial		227,019		897		825		251,607		510		492
Residential builder and developer		360,429		839		240		309,642		715		450
Other commercial construction		117,669		652		426		51,970		401		401
Residential		90,813		2,069		1,147		52,932		1,213		781
Residential Alt-A		202,339		3,986		960		225,391		4,327		885
Consumer:
Home equity lines and loans		12,098		351		50		12,268		359		63
Automobile		58,655		1,968		589		51,732		1,771		666
Other		3,304		112		16		3,232		129		31
Total	$	1,255,808		12,648		6,008		1,266,178		10,655		4,989

Summary of Loan grades

			Real Estate
	Commercial,				Residential		Other
	Financial,				Builder and		Commercial
	Leasing, etc.		Commercial		Developer		Construction
			(in thousands)
June 30, 2011
Pass	$	14,154,538		18,403,985		1,255,712		2,329,099
Criticized accrual		722,733		912,811		226,666		427,278
Criticized nonaccrual		163,621		234,171		359,152		114,852
Total	$	15,040,892		19,550,967		1,841,530		2,871,229
December 31, 2010
Pass	$	12,371,138		15,831,104		693,110		2,253,589
Criticized accrual		832,733		891,655		311,932		519,651
Criticized nonaccrual		186,739		209,031		346,448		126,641
Total	$	13,390,610		16,931,790		1,351,490		2,899,881

Allocation of allowance for credit losses on the basis of the Company's impairment methodology

	Commercial,
	Financial,		Real Estate
	Leasing, etc.		Commercial		Residential		Consumer		Total
					(in thousands)
June 30, 2011
Individually evaluated for impairment	$	32,656		118,545		34,000		15,473	$	200,674
Collectively evaluated for impairment		177,052		278,862		52,297		121,413		629,624
Purchased impaired		171		3,704		1,044		423		5,342
Allocated	$	209,879		401,111		87,341		137,309		835,640
Unallocated										71,949
Total									$	907,589
December 31, 2010
Individually evaluated for impairment	$	40,459		114,082		39,000		15,492	$	209,033
Collectively evaluated for impairment		171,670		282,505		46,976		117,475		618,626
Purchased impaired		450		3,975		375		100		4,900
Allocated	$	212,579		400,562		86,351		133,067		832,559
Unallocated										70,382
Total									$	902,941

Recorded investment in loans and leases on the basis of the Company's impairment methodology

	Commercial,
	Financial,		Real Estate
	Leasing, etc.		Commercial		Residential		Consumer		Total
					(in thousands)
June 30, 2011
Individually evaluated for impairment	$	169,797		717,317		293,257		72,042	$	1,252,413
Collectively evaluated for impairment		14,833,322		22,902,012		6,613,337		12,187,167		56,535,838
Purchased impaired		37,773		644,397		64,327		6,481		752,978
Total	$	15,040,892		24,263,726		6,970,921		12,265,690	$	58,541,229
December 31, 2010
Individually evaluated for impairment	$	186,739		682,120		286,612		72,082	$	1,227,553
Collectively evaluated for impairment		13,201,621		20,417,958		5,632,124		11,414,107		50,665,810
Purchased impaired		2,250		83,083		9,320		2,366		97,019
Total	$	13,390,610		21,183,161		5,928,056		11,488,555	$	51,990,382