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LOANS
 3 Months Ended
Mar. 31, 2014
Loans and Leases Receivable Disclosure [Abstract]  
LOANS
LOANS

The following table presents loan classifications:
March 31, 2014
Performing
 
 
 
 
(dollars in thousands)
Pass Rated
 
Special Mention
 
Classified
 
Non-Performing (d)
 
Total
Commercial and industrial
$
2,361,736

 
$
51,409

 
$
77,627

 
$
13,822

 
$
2,504,594

 
 
 
 
 
 
 
 
 
 
CRE - permanent
979,978

 
7,112

 
30,143

 
4,038

 
1,021,271

CRE - construction
159,862

 
1,662

 
11,637

 
10,425

 
183,586

Commercial real estate
1,139,840

 
8,774

 
41,780

 
14,463

 
1,204,857

 
 
 
 
 
 
 
 
 
 
Residential mortgages
635,690

 
—

 
896

 
11,609

 
648,195

Home equity
748,727

 
—

 
389

 
4,181

 
753,297

All other consumer
253,989

 
10

 
5,661

 
1,953

 
261,613

Consumer
1,638,406

 
10

 
6,946

 
17,743

 
1,663,105

 
 
 
 
 
 
 
 
 
 
Loans
$
5,139,982

 
$
60,193

 
$
126,353

 
$
46,028

 
$
5,372,556

 
 
 
 
 
 
 
 
 
 
Percent of loans
95.67
%
 
1.12
%
 
2.35
%
 
0.86
%
 
100.00
%
 
 
 
 
 
 
 
 
 
 
December 31, 2013
Performing
 
 

 
 

(dollars in thousands)
Pass Rated
 
Special Mention
 
Classified
 
Non-Performing
 
Total
Commercial and industrial
$
2,327,344

 
$
38,873

 
$
79,179

 
$
15,268

 
$
2,460,664

 
 
 
 
 
 
 
 
 
 
CRE - permanent
944,589

 
9,191

 
36,272

 
4,786

 
994,838

CRE - construction
167,710

 
2,962

 
15,534

 
12,128

 
198,334

Commercial real estate
1,112,299

 
12,153

 
51,806

 
16,914

 
1,193,172

 
 
 
 
 
 
 
 
 
 
Residential mortgages
636,829

 
—

 
2,243

 
13,153

 
652,225

Home equity
757,064

 
—

 
137

 
5,407

 
762,608

All other consumer
256,957

 
160

 
5,633

 
1,849

 
264,599

Consumer
1,650,850

 
160

 
8,013

 
20,409

 
1,679,432

 
 
 
 
 
 
 
 
 
 
Loans
$
5,090,493

 
$
51,186

 
$
138,998

 
$
52,591

 
$
5,333,268

 
 
 
 
 
 
 
 
 
 
Percent of loans
95.45
%
 
0.96
%
 
2.60
%
 
0.99
%
 
100.00
%
 
 
 
 
 
 
 
 
 
 
(d) Exclusive of non-accrual residential mortgage and home equity loans of $1.5 million and $0.6 million, respectively, included in loans held-for-sale.


The following table presents the details for past due loans: 
March 31, 2014
Past Due and Still Accruing
 
Accruing Current Balances
 
Non-Accrual Balances (d) (f)
 
Total Balances
(dollars in thousands)
30-59 Days
 
60-89 Days
 
90 Days or More (e)
 
Total
 
 
 
Commercial and industrial
$
668

 
$
1,195

 
$
—

 
$
1,863

 
$
2,489,230

 
$
13,501

 
$
2,504,594

 
 
 
 
 
 
 
 
 
 
 
 
 
 
CRE - permanent
78

 
97

 
—

 
175

 
1,017,583

 
3,513

 
1,021,271

CRE - construction
193

 
—

 
—

 
193

 
172,968

 
10,425

 
183,586

Commercial real estate
271

 
97

 
—

 
368

 
1,190,551

 
13,938

 
1,204,857

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages
3,797

 
595

 
852

 
5,244

 
637,654

 
5,297

 
648,195

Home equity
3,418

 
722

 
389

 
4,529

 
745,329

 
3,439

 
753,297

All other consumer
2,623

 
1,123

 
1,069

 
4,815

 
255,097

 
1,701

 
261,613

Consumer
9,838

 
2,440

 
2,310

 
14,588

 
1,638,080

 
10,437

 
1,663,105

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans
$
10,777

 
$
3,732

 
$
2,310

 
$
16,819

 
$
5,317,861

 
$
37,876

 
$
5,372,556

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of loans
0.20
%
 
0.07
%
 
0.04
%
 
0.31
%
 
 

 
0.70
%
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2013
Past Due and Still Accruing
 
Accruing Current Balances
 
Non-Accrual Balances (f)
 
Total Balances
(dollars in thousands)
30-59 Days
 
60-89 Days
 
90 Days or More (e)
 
Total
 
 
 
Commercial and industrial
$
3,362

 
$
1,520

 
$
11

 
$
4,893

 
$
2,440,836

 
$
14,935

 
$
2,460,664

 
 
 
 
 
 
 
 
 
 
 
 
 
 
CRE - permanent
6,191

 
181

 
—

 
6,372

 
984,208

 
4,258

 
994,838

CRE - construction
373

 
—

 
—

 
373

 
185,833

 
12,128

 
198,334

Commercial real estate
6,564

 
181

 
—

 
6,745

 
1,170,041

 
16,386

 
1,193,172

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages
4,509

 
774

 
2,197

 
7,480

 
637,708

 
7,037

 
652,225

Home equity
4,383

 
1,101

 
140

 
5,624

 
752,197

 
4,787

 
762,608

All other consumer
2,761

 
814

 
1,118

 
4,693

 
258,175

 
1,731

 
264,599

Consumer
11,653

 
2,689

 
3,455

 
17,797

 
1,648,080

 
13,555

 
1,679,432

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans
$
21,579

 
$
4,390

 
$
3,466

 
$
29,435

 
$
5,258,957

 
$
44,876

 
$
5,333,268

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of loans
0.40
%
 
0.08
%
 
0.07
%
 
0.55
%
 
 

 
0.84
%
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
(d) Exclusive of non-accrual residential mortgage and home equity loans of $1.5 million and $0.6 million, respectively, included in loans held-for-sale.
(e) Loans 90 days or more past due remain on accrual status if they are well secured and collection of all principal and interest is probable.
(f) At March 31, 2014, non-accrual balances included troubled debt restructurings of $5.3 million commercial real estate, $6.5 million of commercial and industrial, and $3.0 million of consumer loans. At December 31, 2013, non-accrual balances included troubled debt restructurings of $6.5 million of commercial real estate loans, $7.7 million of commercial and industrial loans, and $3.0 million of consumer loans.


Changes in the allowance for loan losses by loan portfolio are as follows:
March 31, 2014
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
 
 
 
 
 
 
(dollars in thousands)
Commercial and Industrial
 
Commercial Real Estate
 
Consumer
 
Unallocated
 
Total
Allowance for loan losses:
 
 
 

 
 

 
 

 
 

Beginning balance
$
41,288

 
$
22,653

 
$
21,478

 
$
10,948

 
$
96,367

Charge-offs
(1,335
)
 
(527
)
 
(3,156
)
 
—

 
(5,018
)
Recoveries
185

 
74

 
393

 
—

 
652

Provision
559

 
(2,003
)
 
3,149

 
(454
)
 
1,251

Ending balance
$
40,697

 
$
20,197

 
$
21,864

 
$
10,494

 
$
93,252

Allowance for loan losses:
 
 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
2,981

 
$
2,284

 
$
1,988

 
$
—

 
$
7,253

Collectively evaluated for impairment
37,716

 
17,913

 
19,876

 
10,494

 
85,999

Total allowance for loan losses
$
40,697

 
$
20,197

 
$
21,864

 
$
10,494

 
$
93,252

Loans:
 

 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
13,822

 
$
17,266

 
$
17,787

 
$
—

 
$
48,875

Collectively evaluated for impairment
2,490,772

 
1,187,591

 
1,645,318

 
—

 
5,323,681

Loans
$
2,504,594

 
$
1,204,857

 
$
1,663,105

 
$
—

 
$
5,372,556


March 31, 2013
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
 
 
 
 
 
 
(dollars in thousands)
Commercial and Industrial
 
Commercial Real Estate
 
Consumer
 
Unallocated
 
Total
Allowance for loan losses:
 
 
 

 
 

 
 

 
 

Beginning balance
$
46,151

 
$
29,295

 
$
23,101

 
$
12,408

 
$
110,955

Charge-offs
(2,314
)
 
(759
)
 
(3,309
)
 
—

 
(6,382
)
Recoveries
445

 
159

 
487

 
—

 
1,091

Provision
3,117

 
(2,150
)
 
2,039

 
(1,506
)
 
1,500

Ending balance
$
47,399

 
$
26,545

 
$
22,318

 
$
10,902

 
$
107,164

Allowance for loan losses:
 
 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
4,144

 
$
1,654

 
$
1,186

 
$
—

 
$
6,984

Collectively evaluated for impairment
43,255

 
24,891

 
21,132

 
10,902

 
100,180

Total allowance for loan losses
$
47,399

 
$
26,545

 
$
22,318

 
$
10,902

 
$
107,164

Loans:
 

 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
24,830

 
$
18,190

 
$
15,939

 
$
—

 
$
58,959

Collectively evaluated for impairment
2,504,549

 
1,025,653

 
1,645,678

 
—

 
5,175,880

Loans
$
2,529,379

 
$
1,043,843

 
$
1,661,617

 
$
—

 
$
5,234,839



The Company did not have any loans acquired with deteriorated credit quality.

Impaired loan details are as follows:
March 31, 2014
Recorded Investment
 
 
 
 
 
 
(dollars in thousands)
With Related Allowance
 
Without Related Allowance (g)
 
Total
 
Life-to-date Charge-offs (h)
 
Total Unpaid Balances
 
Related Allowance
Commercial and industrial
$
5,368

 
$
8,454

 
$
13,822

 
$
6,445

 
$
20,267

 
$
2,981

 
 
 
 
 
 
 
 
 
 
 
 
CRE - permanent
4,330

 
2,511

 
6,841

 
6,609

 
13,450

 
917

CRE - construction
8,026

 
2,399

 
10,425

 
3,979

 
14,404

 
1,367

Commercial real estate
12,356

 
4,910

 
17,266

 
10,588

 
27,854

 
2,284

 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages
6,044

 
7,091

 
13,135

 
1,964

 
15,099

 
1,601

Home equity
829

 
3,954

 
4,783

 
1,063

 
5,846

 
334

All other consumer
252

 
1,701

 
1,953

 
61

 
2,014

 
53

Consumer
7,125

 
12,746

 
19,871

 
3,088

 
22,959

 
1,988

 
 
 
 
 
 
 
 
 
 
 
 
Total
$
24,849

 
$
26,110

 
$
50,959

 
$
20,121

 
$
71,080

 
$
7,253

 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2013
Recorded Investment
 
 
 
 

 
 

(dollars in thousands)
With Related Allowance
 
Without Related Allowance
 
Total
 
Life-to-date Charge-offs
 
Total Unpaid Balances
 
Related Allowance
Commercial and industrial
$
8,457

 
$
6,811

 
$
15,268

 
$
5,599

 
$
20,867

 
$
3,997

 
 
 
 
 
 
 
 
 
 
 
 
CRE - permanent
5,995

 
3,872

 
9,867

 
6,441

 
16,308

 
1,073

CRE - construction
9,729

 
2,399

 
12,128

 
6,633

 
18,761

 
1,414

Commercial real estate
15,724

 
6,271

 
21,995

 
13,074

 
35,069

 
2,487

 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages
6,088

 
7,109

 
13,197

 
800

 
13,997

 
1,589

Home equity
609

 
4,798

 
5,407

 
515

 
5,922

 
203

All other consumer
118

 
1,731

 
1,849

 
61

 
1,910

 
28

Consumer
6,815

 
13,638

 
20,453

 
1,376

 
21,829

 
1,820

 
 
 
 
 
 
 
 
 
 
 
 
Total
$
30,996

 
$
26,720

 
$
57,716

 
$
20,049

 
$
77,765

 
$
8,304

 
 
 
 
 
 
 
 
 
 
 
 
(g) Includes non-accrual residential mortgage and home equity loans held-for-sale of $1.5 million and $0.6 million, respectively, at March 31, 2014.
(h) Life-to-date charge-offs include $1.3 million related to non-accrual residential mortgages held-for-sale and $0.5 million related to non-accrual home equity loans held-for-sale.
 



Additional impaired loan details are as follows:
 
Three Months Ended March 31,
 
2014
 
2013
(dollars in thousands)
Average Recorded
Investment
 
Interest Income
Recognized (i)
 
Average Recorded
Investment
 
Interest Income
Recognized (i)
Commercial and industrial
$
14,666

 
$
6

 
$
25,529

 
$
18

 
 
 
 
 
 
 
 
CRE - permanent
8,500

 
6

 
8,771

 
23

CRE - construction
10,556

 
—

 
7,097

 
19

Commercial real estate
19,056

 
6

 
15,868

 
42

 
 
 
 
 
 
 
 
Residential mortgages
13,934

 
34

 
9,795

 
19

Home equity
5,174

 
3

 
4,806

 
3

All other consumer
1,890

 
2

 
1,633

 
—

Consumer
20,998

 
39

 
16,234

 
22

 
 
 
 
 
 
 
 
Total
$
54,720

 
$
51

 
$
57,631

 
$
82

 
 
 
 
 
 
 
 
(i) Interest income recognized for the three months end March 31, 2014 and 2013, primarily represent amounts earned on accruing TDRs.

    
The following table presents details of the Company’s loans which experienced a troubled debt restructuring and are performing according to the modified terms. The Company’s restructured loans are included within non-performing loans and impaired loans in the preceding tables.
(dollars in thousands)
March 31,
2014
 
December 31,
2013
Commercial and industrial
$
321

 
$
333

CRE - permanent
525

 
528

Residential mortgages
6,312

 
6,116

Home equity
742

 
620

All other consumer
252

 
118

Total restructured loans
$
8,152

 
$
7,715

 
 
 
 
Undrawn commitments to lend on restructured loans
$
—

 
$
—


The Company modifies loans to consumers with residential mortgages and home equity loans utilizing a program modeled after government assisted programs in order to help customers who are experiencing financial difficulty and are in jeopardy of losing their homes to foreclosure.