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Loans and Allowance for Credit Losses (Tables)
 1 Months Ended 3 Months Ended 9 Months Ended
Jun. 30, 2012
Sep. 30, 2013
Sep. 30, 2013
Receivables [Abstract]      
Summary of Gross Loans by Type    
Loans, net of unearned income are summarized as follows:
 
September 30, 2013
 
December 31, 2012
 
(in thousands)
Real-estate - commercial mortgage
$
5,063,373

 
$
4,664,426

Commercial - industrial, financial and agricultural
3,645,270

 
3,612,065

Real-estate - home equity
1,773,554

 
1,632,390

Real-estate - residential mortgage
1,327,469

 
1,257,432

Real-estate - construction
577,342

 
584,118

Consumer
296,142

 
309,864

Leasing and other
89,819

 
75,521

Overdrafts
16,706

 
18,393

Loans, gross of unearned income
12,789,675

 
12,154,209

Unearned income
(8,776
)
 
(7,238
)
Loans, net of unearned income
$
12,780,899

 
$
12,146,971
Schedule of Allowance for Credit Losses    
The following table presents the components of the allowance for credit losses:
 
September 30,
2013
 
December 31,
2012
 
(in thousands)
Allowance for loan losses
$
210,486

 
$
223,903

Reserve for unfunded lending commitments
2,352

 
1,536

Allowance for credit losses
$
212,838

 
$
225,439
Activity in the Allowance for Credit Losses    
The following table presents the activity in the allowance for credit losses:
 
Three months ended September 30
 
Nine months ended September 30
 
2013
 
2012
 
2013
 
2012
 
(in thousands)
Balance at beginning of period
$
217,626

 
$
237,316

 
$
225,439

 
$
258,177

Loans charged off
(18,108
)
 
(29,966
)
 
(61,597
)
 
(110,765
)
Recoveries of loans previously charged off
3,820

 
4,918

 
10,996

 
11,356

Net loans charged off
(14,288
)
 
(25,048
)
 
(50,601
)
 
(99,409
)
Provision for credit losses
9,500

 
23,000

 
38,000

 
76,500

Balance at end of period
$
212,838

 
$
235,268

 
$
212,838

 
$
235,268


The following table presents the activity in the allowance for loan losses by portfolio segment:
 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing
and other
and
overdrafts
 
Unallocated
 
Total
 
(in thousands)
Three months ended September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2013
$
58,696

 
$
57,557

 
$
25,736

 
$
32,684

 
$
14,471

 
$
2,497

 
$
2,925

 
$
21,865

 
$
216,431

Loans charged off
(3,724
)
 
(9,394
)
 
(2,365
)
 
(767
)
 
(598
)
 
(473
)
 
(787
)
 
—

 
(18,108
)
Recoveries of loans previously charged off
185

 
2,295

 
198

 
245

 
379

 
294

 
224

 
—

 
3,820

Net loans charged off
(3,539
)
 
(7,099
)
 
(2,167
)
 
(522
)
 
(219
)
 
(179
)
 
(563
)
 
—

 
(14,288
)
Provision for loan losses (1)
3,470

 
1,437

 
4,451

 
1,595

 
(1,221
)
 
610

 
620

 
(2,619
)
 
8,343

Balance at September 30, 2013
$
58,627

 
$
51,895

 
$
28,020

 
$
33,757

 
$
13,031

 
$
2,928

 
$
2,982

 
$
19,246

 
$
210,486

Three months ended September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2012
$
69,868

 
$
71,931

 
$
14,444

 
$
26,711

 
$
25,559

 
$
1,816

 
$
3,243

 
$
22,164

 
$
235,736

Loans charged off
(7,463
)
 
(10,471
)
 
(1,688
)
 
(670
)
 
(8,364
)
 
(685
)
 
(625
)
 
—

 
(29,966
)
Recoveries of loans previously charged off
1,317

 
1,693

 
343

 
25

 
1,040

 
202

 
298

 
—

 
4,918

Net loans charged off
(6,146
)
 
(8,778
)
 
(1,345
)
 
(645
)
 
(7,324
)
 
(483
)
 
(327
)
 
—

 
(25,048
)
Provision for loan losses (1)
8,447

 
4,721

 
2,337

 
2,790

 
3,893

 
530

 
77

 
381

 
23,176

Balance at September 30, 2012
$
72,169

 
$
67,874

 
$
15,436

 
$
28,856

 
$
22,128

 
$
1,863

 
$
2,993

 
$
22,545

 
$
233,864

Nine months ended September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2012
$
62,928

 
$
60,205

 
$
22,776

 
$
34,536

 
$
17,287

 
$
2,367

 
$
2,752

 
$
21,052

 
$
223,903

Loans charged off
(13,050
)
 
(24,856
)
 
(6,735
)
 
(8,282
)
 
(5,181
)
 
(1,456
)
 
(2,037
)
 
—

 
(61,597
)
Recoveries of loans previously charged off
2,754

 
3,430

 
721

 
442

 
1,794

 
1,206

 
649

 
—

 
10,996

Net loans charged off
(10,296
)
 
(21,426
)
 
(6,014
)
 
(7,840
)
 
(3,387
)
 
(250
)
 
(1,388
)
 
—

 
(50,601
)
Provision for loan losses (1)
5,995

 
13,116

 
11,258

 
7,061

 
(869
)
 
811

 
1,618

 
(1,806
)
 
37,184

Balance at September 30, 2013
$
58,627

 
$
51,895

 
$
28,020

 
$
33,757

 
$
13,031

 
$
2,928

 
$
2,982

 
$
19,246

 
$
210,486

Nine months ended September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 




Balance at December 31, 2011
$
85,112

 
$
74,896

 
$
12,841

 
$
22,986

 
$
30,066

 
$
2,083

 
$
2,397

 
$
26,090

 
$
256,471

Loans charged off
(43,053
)
 
(29,157
)
 
(6,683
)
 
(3,009
)
 
(25,377
)
 
(1,790
)
 
(1,696
)
 
—

 
(110,765
)
Recoveries of loans previously charged off
3,286

 
3,046

 
641

 
169

 
2,643

 
833

 
738

 
—

 
11,356

Net loans charged off
(39,767
)
 
(26,111
)
 
(6,042
)
 
(2,840
)
 
(22,734
)
 
(957
)
 
(958
)
 
—

 
(99,409
)
Provision for loan losses (1)
26,824

 
19,089

 
8,637

 
8,710

 
14,796

 
737

 
1,554

 
(3,545
)
 
76,802

Balance at September 30, 2012
$
72,169

 
$
67,874

 
$
15,436

 
$
28,856

 
$
22,128

 
$
1,863

 
$
2,993

 
$
22,545

 
$
233,864


(1)
The provision for loan losses excluded a $1.2 million and $816,000 increase, respectively, in the reserve for unfunded lending commitments for the three and nine months ended September 30, 2013 and was gross of a $176,000 and $302,000 decrease, respectively, in the reserve for unfunded lending commitments for the three and nine months ended September 30, 2012. The total provision for credit losses, comprised of allocations for both funded and unfunded loans, was $9.5 million and $38.0 million, respectively, for the three and nine months ended September 30, 2013 and $23.0 million and $76.5 million, respectively, for the three and nine months ended September 30, 2012.
The following table presents loans, net of unearned income and their related allowance for loan losses, by portfolio segment:
 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing
and other
and
overdrafts
 
Unallocated
(1)
 
Total
 
(in thousands)
Allowance for loan losses at September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Measured for impairment under FASB ASC Subtopic 450-20
$
43,262

 
$
38,025

 
$
18,482

 
$
11,494

 
$
8,648

 
$
2,911

 
$
2,982

 
$
19,246

 
$
145,050

Evaluated for impairment under FASB ASC Section 310-10-35
15,365

 
13,870

 
9,538

 
22,263

 
4,383

 
17

 
—

 
N/A

 
65,436

 
$
58,627

 
$
51,895

 
$
28,020

 
$
33,757

 
$
13,031

 
$
2,928

 
$
2,982

 
$
19,246

 
$
210,486

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net of unearned income at September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Measured for impairment under FASB ASC Subtopic 450-20
$
5,001,851

 
$
3,593,038

 
$
1,758,492

 
$
1,277,200

 
$
543,268

 
$
296,122

 
$
97,749

 
N/A

 
$
12,567,720

Evaluated for impairment under FASB ASC Section 310-10-35
61,522

 
52,232

 
15,062

 
50,269

 
34,074

 
20

 
—

 
N/A

 
213,179

 
$
5,063,373

 
$
3,645,270

 
$
1,773,554

 
$
1,327,469

 
$
577,342

 
$
296,142

 
$
97,749

 
N/A

 
$
12,780,899

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Measured for impairment under FASB ASC Subtopic 450-20
$
46,889

 
$
44,169

 
$
10,120

 
$
8,306

 
$
14,957

 
$
1,858

 
$
2,980

 
$
22,545

 
$
151,824

Evaluated for impairment under FASB ASC Section 310-10-35
25,280

 
23,705

 
5,316

 
20,550

 
7,171

 
5

 
13

 
N/A

 
82,040

 
$
72,169

 
$
67,874

 
$
15,436

 
$
28,856

 
$
22,128

 
$
1,863

 
$
2,993

 
$
22,545

 
$
233,864

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net of unearned income at September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Measured for impairment under FASB ASC Subtopic 450-20
$
4,539,370

 
$
3,430,724

 
$
1,594,553

 
$
1,165,504

 
$
554,185

 
$
301,710

 
$
78,031

 
N/A

 
$
11,664,077

Evaluated for impairment under FASB ASC Section 310-10-35
93,139

 
77,122

 
8,903

 
48,818

 
43,173

 
7

 
21

 
N/A

 
271,183

 
$
4,632,509

 
$
3,507,846

 
$
1,603,456

 
$
1,214,322

 
$
597,358

 
$
301,717

 
$
78,052

 
N/A

 
$
11,935,260

 
(1)
The unallocated allowance, which was approximately 9% and 10% of the total allowance for credit losses as of September 30, 2013 and September 30, 2012, respectively, was, in the opinion of management, reasonable and appropriate given that the estimates used in the allocation process are inherently imprecise.
N/A – Not applicable
Allowance For Credit Losses On Financing Receivables Sold  
a summary of these transactions:
 
Three months ended September 30, 2013
 
Nine months ended September 30, 2013
 
Real Estate - Commercial mortgage
 
Commercial - industrial, financial and agricultural
 
Real Estate - Construction
 
Total
 
Real Estate - Commercial mortgage
 
Commercial - industrial, financial and agricultural
 
Real Estate - Construction
 
Total
 
(in thousands)
Unpaid principal balance of loans sold
$
4,840

 
$
11,950

 
$
1,490

 
$
18,280

 
$
21,760

 
$
23,600

 
$
9,930

 
$
55,290

Charge-offs prior to sale
—

 
(1,860
)
 
—

 
(1,860
)
 
(4,890
)
 
(3,890
)
 
(4,680
)
 
(13,460
)
Net recorded investment in loans sold
4,840

 
10,090

 
1,490

 
16,420

 
16,870

 
19,710

 
5,250

 
41,830

Proceeds from sale, net of selling expenses
3,310

 
6,020

 
1,050

 
10,380

 
10,410

 
10,050

 
3,400

 
23,860

Total charge-off upon sale
$
(1,530
)
 
$
(4,070
)
 
$
(440
)
 
$
(6,040
)
 
$
(6,460
)
 
$
(9,660
)
 
$
(1,850
)
 
$
(17,970
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Existing allocation for credit losses on sold loans
$
(320
)
 
$
(450
)
 
$
—

 
$
(770
)
 
$
(6,620
)
 
$
(5,780
)
 
$
(1,320
)
 
$
(13,720
)
  
Non-accrual Loan Sale
In June 2012, the Corporation sold $44.1 million of non-accrual commercial mortgage, commercial and construction loans to an investor, resulting in a total increase to charge-offs of $21.2 million during the nine months ended September 30, 2012. The following table presents a summary of this transaction:
 
Real Estate - Commercial mortgage
 
Commercial - industrial, financial and agricultural
 
Real Estate - Construction
 
Total
 
(in thousands)
Unpaid principal balance of loans sold
$
38,450

 
$
15,270

 
$
6,280

 
$
60,000

Charge-offs prior to sale
(8,600
)
 
(3,750
)
 
(3,540
)
 
(15,890
)
Net recorded investment in loans sold
29,850

 
11,520

 
2,740

 
44,110

Proceeds from sale, net of selling expenses
15,910

 
5,170

 
1,850

 
22,930

Total charge-off upon sale
$
(13,940
)
 
$
(6,350
)
 
$
(890
)
 
$
(21,180
)
 
 
 
 
 
 
 
 
Existing allocation for credit losses on sold loans
$
(15,090
)
 
$
(7,510
)
 
$
(1,520
)
 
$
(24,120
)
    
Total Impaired Loans by Class Segment    
The following table presents total impaired loans by class segment:
 
September 30, 2013
 
December 31, 2012
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
29,656

 
$
24,117

 
$
—

 
$
44,649

 
$
34,189

 
$
—

Commercial - secured
35,102

 
28,665

 
—

 
40,409

 
30,112

 
—

Commercial - unsecured
—

 
—

 
—

 
132

 
131

 
—

Real estate - home equity
399

 
300

 
—

 
300

 
300

 
—

Real estate - residential mortgage
—

 
—

 
—

 
486

 
486

 
—

Construction - commercial residential
24,389

 
18,836

 
—

 
40,432

 
23,548

 
—

Construction - commercial
2,992

 
2,014

 
—

 
6,294

 
5,685

 
—

 
92,538

 
73,932

 

 
132,702

 
94,451

 

With a related allowance recorded:
 
 
 

 

 

 

Real estate - commercial mortgage
45,568

 
37,405

 
15,365

 
69,173

 
55,443

 
21,612

Commercial - secured
28,438

 
22,322

 
12,972

 
52,660

 
39,114

 
17,187

Commercial - unsecured
1,303

 
1,245

 
898

 
2,142

 
2,083

 
1,597

Real estate - home equity
20,730

 
14,762

 
9,538

 
12,843

 
12,843

 
8,380

Real estate - residential mortgage
62,534

 
50,269

 
22,263

 
53,610

 
53,610

 
24,108

Construction - commercial residential
23,490

 
12,351

 
3,941

 
21,336

 
9,831

 
4,787

Construction - commercial
857

 
374

 
157

 
2,602

 
2,350

 
1,146

Construction - other
665

 
499

 
285

 
576

 
576

 
326

Consumer - direct
18

 
18

 
15

 
29

 
29

 
25

Consumer - indirect
2

 
2

 
2

 
—

 
—

 
—

Leasing and other and overdrafts
—

 
—

 
—

 
10

 
10

 
7

 
183,605

 
139,247

 
65,436

 
214,981

 
175,889

 
79,175

Total
$
276,143

 
$
213,179

 
$
65,436

 
$
347,683

 
$
270,340

 
$
79,175


As of September 30, 2013 and December 31, 2012, there were $73.9 million and $94.5 million, respectively, of impaired loans that did not have a related allowance for loan loss. The estimated fair values of the collateral for these loans exceeded their carrying amount, or were previously charged down to collateral values. Accordingly, no specific valuation allowance was considered to be necessary.
The following table presents average impaired loans by class segment:
 
Three months ended September 30
 
Nine months ended September 30
 
2013
 
2012
 
2013
 
2012
 
Average
Recorded
Investment
 
Interest
Income
Recognized
(1)
 
Average
Recorded
Investment
 
Interest
Income
Recognized
(1)
 
Average
Recorded
Investment
 
Interest
Income
Recognized (1)
 
Average
Recorded
Investment
 
Interest
Income
Recognized (1)
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
27,120

 
$
113

 
$
43,197

 
$
172

 
$
29,630

 
$
394

 
$
43,422

 
370

Commercial - secured
33,644

 
49

 
25,992

 
13

 
32,528

 
131

 
25,526

 
30

Commercial - unsecured
—

 
—

 
59

 
—

 
33

 
—

 
33

 
—

Real estate - home equity
300

 
—

 
583

 
1

 
253

 
1

 
466

 
1

Real estate - residential mortgage
747

 
4

 
1,984

 
17

 
869

 
25

 
1,115

 
30

Construction - commercial residential
20,809

 
66

 
25,768

 
60

 
21,730

 
200

 
28,315

 
128

Construction - commercial
2,021

 
—

 
2,666

 
6

 
3,500

 
2

 
2,943

 
12

 
84,641

 
232

 
100,249

 
269

 
88,543

 
753

 
101,820

 
571

With a related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
37,962

 
158

 
59,239

 
240

 
46,213

 
563

 
67,064

 
523

Commercial - secured
22,771

 
34

 
43,420

 
32

 
29,317

 
115

 
46,743

 
65

Commercial - unsecured
1,260

 
1

 
2,555

 
2

 
1,502

 
4

 
2,735

 
4

Real estate - home equity
14,761

 
17

 
8,045

 
7

 
14,031

 
49

 
6,810

 
11

Real estate - residential mortgage
51,365

 
290

 
45,022

 
384

 
52,581

 
924

 
42,555

 
1,144

Construction - commercial residential
12,053

 
39

 
16,232

 
37

 
11,774

 
121

 
21,647

 
94

Construction - commercial
525

 
—

 
2,373

 
5

 
1,641

 
3

 
2,204

 
11

Construction - other
501

 
—

 
997

 
2

 
517

 
1

 
1,073

 
4

Consumer - direct
18

 
—

 
7

 
—

 
21

 
—

 
98

 
—

Consumer - indirect
3

 
—

 
—

 
—

 
1

 
—

 
—

 
—

Leasing and other and overdrafts
—

 
—

 
158

 
—

 
14

 
—

 
101

 
—

 
141,219

 
539

 
178,048

 
709

 
157,612

 
1,780

 
191,030

 
1,856

Total
$
225,860

 
$
771

 
$
278,297

 
$
978

 
$
246,155

 
$
2,533

 
$
292,850

 
2,427

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
All impaired loans, excluding accruing TDRs, were non-accrual loans. Interest income recognized for the three and nine months ended September 30, 2013 and 2012 represents amounts earned on accruing TDRs.
Financing Receivable Credit Quality Indicators    
The following table presents internal credit risk ratings for commercial loans, commercial mortgages and construction loans to commercial borrowers by class segment:
 
Pass
 
Special Mention
 
Substandard or Lower
 
Total
 
September 30, 2013
 
December 31, 2012
 
September 30, 2013
 
December 31, 2012
 
September 30, 2013
 
December 31, 2012
 
September 30, 2013
 
December 31, 2012
 
(dollars in thousands)
Real estate - commercial mortgage
$
4,682,593

 
$
4,255,334

 
$
169,811

 
$
157,640

 
$
210,969

 
$
251,452

 
$
5,063,373

 
$
4,664,426

Commercial - secured
3,183,136

 
3,081,215

 
103,085

 
137,277

 
153,313

 
194,952

 
3,439,534

 
3,413,444

Commercial -unsecured
197,932

 
187,200

 
3,988

 
5,421

 
3,816

 
6,000

 
205,736

 
198,621

Total commercial - industrial, financial and agricultural
3,381,068

 
3,268,415

 
107,073

 
142,698

 
157,129

 
200,952

 
3,645,270

 
3,612,065

Construction - commercial residential
145,823

 
156,537

 
41,776

 
52,434

 
57,458

 
79,581

 
245,057

 
288,552

Construction - commercial
247,350

 
211,470

 
2,370

 
2,799

 
9,121

 
12,081

 
258,841

 
226,350

Total construction (excluding Construction - other)
393,173

 
368,007

 
44,146

 
55,233

 
66,579

 
91,662

 
503,898

 
514,902

 
$
8,456,834

 
$
7,891,756

 
$
321,030

 
$
355,571

 
$
434,677

 
$
544,066

 
$
9,212,541

 
$
8,791,393

% of Total
91.8
%
 
89.8
%
 
3.5
%
 
4.0
%
 
4.7
%
 
6.2
%
 
100.0
%
 
100.0
%

The following is a summary of the Corporation's internal risk rating categories:
•
Pass: These loans do not currently pose undue credit risk and can range from the highest to average quality, depending on the degree of potential risk.
•
Special Mention: These loans constitute an undue and unwarranted credit risk, but not to a point of justifying a classification of substandard. Loans in this category are currently acceptable, but are nevertheless potentially weak.
•
Substandard or Lower: These loans are inadequately protected by current sound worth and paying capacity of the borrower. There exists a well-defined weakness or weaknesses that jeopardize the normal repayment of the debt.

The Corporation believes that internal risk ratings are the most relevant credit quality indicator for the class segments presented above. The migration of loans through the various internal risk rating categories is a significant component of the allowance for credit loss methodology, which bases the probability of default on this migration. Assigning risk ratings involves judgment. Risk ratings are initially assigned to loans by loan officers and are reviewed on a regular basis by credit administration staff. The Corporation's loan review officers provide a separate assessment of risk rating accuracy. Ratings may be changed based on the ongoing monitoring procedures performed by loan officers or credit administration staff, or if specific loan review activities identify a deterioration or an improvement in the loan. The risk rating process allows management to identify riskier credits in a timely manner and to allocate resources to managing troubled accounts.

The Corporation does not assign internal risk ratings for smaller balance, homogeneous loans, such as home equity, residential mortgage, consumer, leasing and other and construction loans to individuals secured by residential real estate. For these loans, the most relevant credit quality indicator is delinquency status. The migration of these loans through the various delinquency status categories is a significant component of the allowance for credit losses methodology, which bases the probability of default on this migration.

The following table presents a summary of delinquency and non-performing status for home equity, residential mortgages, construction loans to individuals and consumer, leasing and other loans by class segment:
 
Performing
 
Delinquent (1)
 
Non-performing (2)
 
Total
 
September 30, 2013
 
December 31, 2012
 
September 30, 2013
 
December 31, 2012
 
September 30, 2013
 
December 31, 2012
 
September 30, 2013
 
December 31, 2012
 
(dollars in thousands)
Real estate - home equity
$
1,736,645

 
$
1,602,541

 
$
18,218

 
$
12,645

 
$
18,691

 
$
17,204

 
$
1,773,554

 
$
1,632,390

Real estate - residential mortgage
1,269,058

 
1,190,873

 
24,102

 
32,123

 
34,309

 
34,436

 
1,327,469

 
1,257,432

Construction - other
71,520

 
67,447

 
1,425

 
865

 
499

 
904

 
73,444

 
69,216

Consumer - direct
138,373

 
159,616

 
4,057

 
3,795

 
2,891

 
3,170

 
145,321

 
166,581

Consumer - indirect
147,741

 
140,868

 
2,958

 
2,270

 
122

 
145

 
150,821

 
143,283

Total consumer
286,114

 
300,484

 
7,015

 
6,065

 
3,013

 
3,315

 
296,142

 
309,864

Leasing and other and overdrafts
97,160

 
85,946

 
522

 
711

 
67

 
19

 
97,749

 
86,676

 
$
3,460,497

 
$
3,247,291

 
$
51,282

 
$
52,409

 
$
56,579

 
$
55,878

 
$
3,568,358

 
$
3,355,578

% of Total
97.0
%

96.7
%

1.4
%

1.6
%

1.6
%

1.7
%

100.0
%

100.0
%

(1)
Includes all accruing loans 31 days to 89 days past due.
(2)
Includes all accruing loans 90 days or more past due and all non-accrual loans.
Non-Performing Assets    
The following table presents non-performing assets:
 
September 30,
2013
 
December 31,
2012
 
(in thousands)
Non-accrual loans
$
143,012

 
$
184,832

Accruing loans greater than 90 days past due
25,271

 
26,221

Total non-performing loans
168,283

 
211,053

Other real estate owned (OREO)
18,173

 
26,146

Total non-performing assets
$
186,456

 
$
237,199
Troubled Debt Restructurings on Financing Receivables    
The following table presents TDRs, by class segment:
 
September 30,
2013
 
December 31,
2012
 
(in thousands)
Real-estate - residential mortgage
$
27,820

 
$
32,993

Real-estate - commercial mortgage
22,644

 
34,672

Construction - commercial residential
9,841

 
10,564

Commercial - secured
8,060

 
5,624

Real estate - home equity
1,667

 
1,518

Commercial - unsecured
124

 
121

Consumer - other
11

 
—

Consumer - direct
—

 
16

Total accruing TDRs
70,167

 
85,508

Non-accrual TDRs (1)
30,501

 
31,245

Total TDRs
$
100,668

 
$
116,753

 
(1)
Included within non-accrual loans in the preceding table detailing non-performing assets
Loan Terms Modified Under Troubled Debt Restructurings    
The following table presents TDRs, by class segment, as of September 30, 2013 and 2012 that were modified during the three and nine months ended September 30, 2013 and 2012:
 
Three months ended September 30
 
Nine months ended September 30
 
2013
 
2012
 
2013
 
2012
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Construction - commercial residential
2
 
$
4,427

 
2
 
$
741

 
6
 
$
9,542

 
8
 
$
11,178

Real estate - commercial mortgage
4
 
3,774

 
2
 
1,404

 
13
 
8,428

 
15
 
18,004

Real estate - home equity
14
 
1,071

 
1
 
132

 
42
 
2,928

 
7
 
692

Real estate - residential mortgage
5
 
836

 
9
 
3,350

 
44
 
6,861

 
33
 
11,465

Construction - commercial
—
 
—

 
1
 
957

 
—
 
—

 
1
 
957

Commercial - secured
—
 
—

 
7
 
737

 
7
 
592

 
14
 
3,944

Commercial - unsecured
—
 
—

 
—
 
—

 
1
 
15

 
—
 
—

Construction - other
—
 
—

 
1
 
335

 
—
 
—

 
1
 
335

Consumer - direct
—
 
—

 
—
 
—

 
7
 
2

 
—
 
—

 
25
 
$
10,108

 
23
 
$
7,656

 
120
 
$
28,368

 
79
 
$
46,575


The following table presents TDRs, by class segment, as of September 30, 2013 and 2012 that were modified within the previous 12 months and had a payment default during the three and nine months ended September 30, 2013 and 2012:
 
Three months ended September 30
 
Nine months ended September 30
 
2013
 
2012
 
2013
 
2012
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Real estate - residential mortgage
29
 
$
7,224

 
15
 
$
2,977

 
55
 
$
14,808

 
26
 
$
6,763

Real estate - commercial mortgage
3
 
1,299

 
6
 
6,358

 
9
 
3,712

 
7
 
7,442

Real estate - home equity
7
 
507

 
3
 
273

 
20
 
1,609

 
8
 
653

Commercial - secured
2
 
217

 
3
 
1,267

 
5
 
690

 
4
 
1,294

Consumer - other
—
 
—

 
1
 
335

 
—
 
—

 
1
 
335

Construction - commercial
—
 
—

 
1
 
957

 
—
 
—

 
1
 
957

Construction - commercial residential
—
 
—

 
3
 
836

 
2
 
608

 
4
 
2,691

 
41
 
$
9,247

 
32
 
$
13,003

 
91
 
$
21,427

 
51
 
$
20,135
Past due Loan Status and Non-Accrual Loans by Portfolio Segment    
The following table presents past due status and non-accrual loans by portfolio segment and class segment:
 
September 30, 2013
 
31-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total ≥ 90
Days
 
Total Past
Due
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
17,060

 
$
2,951

 
$
3,745

 
$
38,878

 
$
42,623

 
$
62,634

 
$
5,000,739

 
$
5,063,373

Commercial - secured
9,603

 
1,333

 
1,136

 
42,927

 
44,063

 
54,999

 
3,384,535

 
3,439,534

Commercial - unsecured
524

 
308

 
—

 
1,121

 
1,121

 
1,953

 
203,783

 
205,736

Total commercial - industrial, financial and agricultural
10,127

 
1,641

 
1,136

 
44,048

 
45,184

 
56,952

 
3,588,318

 
3,645,270

Real estate - home equity
14,176

 
4,042

 
5,296

 
13,395

 
18,691

 
36,909

 
1,736,645

 
1,773,554

Real estate - residential mortgage
17,468

 
6,634

 
11,860

 
22,449

 
34,309

 
58,411

 
1,269,058

 
1,327,469

Construction - commercial residential
233

 
339

 
163

 
21,346

 
21,509

 
22,081

 
222,976

 
245,057

Construction - commercial
308

 
—

 
—

 
2,388

 
2,388

 
2,696

 
256,145

 
258,841

Construction - other
1,425

 
—

 
—

 
499

 
499

 
1,924

 
71,520

 
73,444

Total real estate - construction
1,966

 
339

 
163

 
24,233

 
24,396

 
26,701

 
550,641

 
577,342

Consumer - direct
2,852

 
1,205

 
2,884

 
7

 
2,891

 
6,948

 
138,373

 
145,321

Consumer - indirect
2,505

 
453

 
120

 
2

 
122

 
3,080

 
147,741

 
150,821

Total consumer
5,357

 
1,658

 
3,004

 
9

 
3,013

 
10,028

 
286,114

 
296,142

Leasing and other and overdrafts
294

 
228

 
67

 
—

 
67

 
589

 
97,160

 
97,749

 
$
66,448

 
$
17,493

 
$
25,271

 
$
143,012

 
$
168,283

 
$
252,224

 
$
12,528,675

 
$
12,780,899

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
31-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total ≥ 90
Days
 
Total Past
Due
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
12,993

 
$
8,473

 
$
2,160

 
$
54,960

 
$
57,120

 
$
78,586

 
$
4,585,840

 
$
4,664,426

Commercial - secured
8,013

 
8,030

 
1,060

 
63,602

 
64,662

 
80,705

 
3,332,739

 
3,413,444

Commercial - unsecured
461

 
12

 
199

 
2,093

 
2,292

 
2,765

 
195,856

 
198,621

Total commercial - industrial, financial and agricultural
8,474

 
8,042

 
1,259

 
65,695

 
66,954

 
83,470

 
3,528,595

 
3,612,065

Real estate - home equity
9,579

 
3,066

 
5,579

 
11,625

 
17,204

 
29,849

 
1,602,541

 
1,632,390

Real estate - residential mortgage
21,827

 
10,296

 
13,333

 
21,103

 
34,436

 
66,559

 
1,190,873

 
1,257,432

Construction - commercial residential
466

 
—

 
251

 
22,815

 
23,066

 
23,532

 
265,020

 
288,552

Construction - commercial
—

 
—

 
—

 
8,035

 
8,035

 
8,035

 
218,315

 
226,350

Construction - other
865

 
—

 
328

 
576

 
904

 
1,769

 
67,447

 
69,216

Total real estate - construction
1,331

 
—

 
579

 
31,426

 
32,005

 
33,336

 
550,782

 
584,118

Consumer - direct
2,842

 
953

 
3,157

 
13

 
3,170

 
6,965

 
159,616

 
166,581

Consumer - indirect
1,926

 
344

 
145

 
—

 
145

 
2,415

 
140,868

 
143,283

Total consumer
4,768

 
1,297

 
3,302

 
13

 
3,315

 
9,380

 
300,484

 
309,864

Leasing and other and overdrafts
662

 
49

 
9

 
10

 
19

 
730

 
85,946

 
86,676

 
$
59,634

 
$
31,223

 
$
26,221

 
$
184,832

 
$
211,053

 
$
301,910

 
$
11,845,061

 
$
12,146,971