UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q/A
Amendment No. 1
(Mark One)
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the quarterly period ended March 31, 2013
or
¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the transition period from to
Commission File Number 001-33872
Susquehanna Bancshares, Inc.
(Exact Name of Registrant as Specified in Its Charter)
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Pennsylvania |
23-2201716 |
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(State or Other Jurisdiction of Incorporation or Organization) |
(I.R.S. Employer Identification No.) |
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26 North Cedar St., Lititz, Pennsylvania |
17543 |
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(Address of Principal Executive Offices) |
(Zip Code) |
Registrant’s telephone number, including area code (717) 626-4721
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files.)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
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Large Accelerated Filer |
Accelerated Filer |
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Non-Accelerated Filer |
Smaller Reporting Company |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
As of April 30, 2013, there were 186,462,380 shares of the registrant’s common stock outstanding, par value $2.00 per share.
Explanatory Note
On May 7, 2013, Susquehanna Bancshares, Inc. (“Susquehanna”) filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2013. Due to a filing error, certain line items were omitted from the Consolidated Statements of Income data contained in the XBRL Interactive Data exhibit to the Form 10-Q, although all such line items were included in the Consolidated Statements of Income contained in the body of the Form 10-Q. The sole purpose of this amendment is to file a corrected version of the XBRL Interactive Data contained in Exhibit 101.
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PART II - OTHER INFORMATION |
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Item 6. Exhibits.† |
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The Exhibits filed as part of this report are as follows: |
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3.1** |
Amended and Restated Articles of Incorporation, dated May 6, 2011, incorporated by reference to Exhibit 3.1 to Susquehanna’s Quarterly Report on Form 10-Q, filed August 8, 2011. |
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3.2** |
Amended and Restated By-Laws, dated February 24, 2011, incorporated by reference to Exhibit 3.1 of Susquehanna’s Current Report on Form 8-K, filed March 2, 2011. |
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4.1** |
Indenture, dated as of August 13, 2012, between Susquehanna Bancshares, Inc. and The New York Mellon Trust Company, N.A., as trustee, incorporated by reference to Exhibit 4.1 in Susquehanna's Current Report on Form 8-K, filed August 8, 2012. |
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4.2** |
First Supplemental Indenture, dated as of August 13, 2012, between Susquehanna Bancshares, Inc. and The New York Mellon Trust Company, N.A., as trustee, incorporated by reference to Exhibit 4.2 to Susquehanna's Current Report on Form 8-K, filed August 8, 2012. |
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4.3** |
Form of Note (included in Exhibit 4.2 above), incorporated by reference to Exhibit 4.2 to Susquehanna's Current Report on Form 8-K, filed August 8, 2012. |
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10.1** |
Supplemental Executive Retirement Plan (Amended and Restated, effective as of January 1, 2012), incorporated by reference to Exhibit 10.1 to Susquehanna's Current Report on Form 8-K, filed August 23, 2012.* |
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31.1** |
Rule 13a-14(a)/15d-14(a) Certification by Chief Executive Officer. |
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31.2** |
Rule 13a-14(a)/15d-14(a) Certification by Chief Financial Officer. |
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32** |
Section 1350 Certifications. |
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101.INS |
XBRL Instance Document |
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101.SCH |
XBRL Taxonomy Extension Schema Document. |
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101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document. |
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101.LAB |
XBRL Taxonomy Extension Label Linkbase Document. |
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101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document. |
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101.DEF |
XBRL Taxonomy Extension Definitions Linkbase Document. |
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† |
Upon request by the SEC, the registrant agrees to furnish to the SEC a copy of any instrument with respect to unregistered long-term debt of the registrant in accordance with Item 601(b)(4)(iii)(A) of Regulation S-K promulgated under the Exchange Act. |
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* |
Management contract or compensation plan or arrangement required to be filed or incorporated as an exhibit. |
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** |
Previously filed. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
May 15, 2013 /s/ William J. Reuter William J. Reuter
Chairman and Chief Executive Officer
May 15, 2013 /s/ Drew K. Hostetter
Executive Vice President and Chief
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Exhibit Index |
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3.1** |
Amended and Restated Articles of Incorporation, dated May 6, 2011, incorporated by reference to Exhibit 3.1 to Susquehanna’s Quarterly Report on Form 10-Q, filed August 8, 2011. |
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3.2** |
Amended and Restated By-Laws, dated February 24, 2011, incorporated by reference to Exhibit 3.1 of Susquehanna’s Current Report on Form 8-K, filed March 2, 2011. |
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4.1** |
Indenture, dated as of August 13, 2012, between Susquehanna Bancshares, Inc. and The New York Mellon Trust Company, N.A., as trustee, incorporated by reference to Exhibit 4.1 in Susquehanna's Current Report on Form 8-K, filed August 8, 2012. |
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4.2** |
First Supplemental Indenture, dated as of August 13, 2012, between Susquehanna Bancshares, Inc. and The New York Mellon Trust Company, N.A., as trustee, incorporated by reference to Exhibit 4.2 to Susquehanna's Current Report on Form 8-K, filed August 8, 2012. |
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4.3** |
Form of Note (included in Exhibit 4.2 above), incorporated by reference to Exhibit 4.2 to Susquehanna's Current Report on Form 8-K, filed August 8, 2012. |
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10.1** |
Supplemental Executive Retirement Plan (Amended and Restated, effective as of January 1, 2012), incorporated by reference to Exhibit 10.1 to Susquehanna's Current Report on Form 8-K, filed August 23, 2012. |
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31.1** |
Rule 13a-14(a)/15d-14(a) Certification by Chief Executive Officer. |
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31.2** |
Rule 13a-14(a)/15d-14(a) Certification by Chief Financial Officer. |
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32** |
Section 1350 Certifications. |
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101.INS |
XBRL Instance Document |
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101.SCH |
XBRL Taxonomy Extension Schema Document. |
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101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document. |
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101.LAB |
XBRL Taxonomy Extension Label Linkbase Document. |
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101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document. |
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101.DEF |
XBRL Taxonomy Extension Definitions Linkbase Document. |
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** |
Previously filed. |
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Acquisitions (Summary of Merger-Related Expenses) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
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Mar. 31, 2013
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Mar. 31, 2012
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| Business Acquisition [Line Items] | ||
| Salaries and employee benefits | $ 63,034 | $ 57,958 |
| Net occupancy and equipment | 11,215 | 10,810 |
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Merger [Member]
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| Business Acquisition [Line Items] | ||
| Salaries and employee benefits | 1,350 | |
| Consulting | 4,015 | |
| Legal | 770 | |
| Branch writeoffs | 1,371 | |
| Net occupancy and equipment | 2,809 | |
| All other | 1,164 | |
| Total merger-related expenses | 11,479 | |
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Merger [Member] | Tower [Member]
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| Business Acquisition [Line Items] | ||
| Salaries and employee benefits | 1,350 | |
| Consulting | 3,949 | |
| Legal | 733 | |
| Branch writeoffs | 1,371 | |
| Net occupancy and equipment | 2,809 | |
| All other | 1,164 | |
| Total merger-related expenses | 11,376 | |
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Merger [Member] | Abington [Member]
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| Business Acquisition [Line Items] | ||
| Salaries and employee benefits | 0 | |
| Consulting | 66 | |
| Legal | 37 | |
| Branch writeoffs | 0 | |
| Net occupancy and equipment | 0 | |
| All other | 0 | |
| Total merger-related expenses | $ 103 | |
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Loans and Leases (Troubled Debt Restructurings By Class Segment) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
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Mar. 31, 2013
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Mar. 31, 2012
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Dec. 31, 2012
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Dec. 31, 2011
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| Financing Receivable Modifications [Line Items] | |||||||||||
| Total performing TDRs | $ 65,773 | $ 67,775 | |||||||||
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TDRs [Member]
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| Financing Receivable Modifications [Line Items] | |||||||||||
| Total performing TDRs | 65,773 | 72,081 | 67,775 | 72,852 | |||||||
| Non-performing TDRs | 25,808 | [1],[2] | 18,720 | [1] | 24,603 | [2] | |||||
| Total TDRs | 91,581 | 92,378 | |||||||||
| Performing TDRs | 72.00% | 79.00% | 73.00% | ||||||||
| Non-performing TDRs | 28.00% | 21.00% | 27.00% | ||||||||
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Commercial, Financial, And Agricultural [Member] | TDRs [Member]
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| Financing Receivable Modifications [Line Items] | |||||||||||
| Total performing TDRs | 14,863 | 8,744 | |||||||||
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Real Estate - Construction [Member] | TDRs [Member]
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| Financing Receivable Modifications [Line Items] | |||||||||||
| Total performing TDRs | 937 | 940 | |||||||||
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Real Estate Secured - Residential [Member] | TDRs [Member]
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| Financing Receivable Modifications [Line Items] | |||||||||||
| Total performing TDRs | 20,172 | 23,224 | |||||||||
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Real Estate Secured - Commercial [Member] | TDRs [Member]
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| Financing Receivable Modifications [Line Items] | |||||||||||
| Total performing TDRs | 28,689 | 33,589 | |||||||||
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Consumer [Member] | TDRs [Member]
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| Financing Receivable Modifications [Line Items] | |||||||||||
| Total performing TDRs | $ 1,112 | $ 1,278 | |||||||||
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Securitizations and Variable Interest Entities ("VIEs") (Narrative) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended |
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Mar. 31, 2013
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2006 Transaction [Member]
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| Securitizations And Variable Interest Entities [Line Items] | |
| Fixed-rate home mortgage loans and variable-rate line of credit loans | $ 349,403 |
| Variable-rate loans | 70.50% |
| Principal balance of loans, percentage | 10.00% |
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2005 Transaction [Member]
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| Securitizations And Variable Interest Entities [Line Items] | |
| Variable-rate loans | 35.40% |
| Principal balance of loans, percentage | 10.00% |
| Home Equity Line Of Credit Loans | $ 239,766 |
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Loans and Leases (Schedule Of Troubled Debt Restructurings Balance And Activity) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||
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Mar. 31, 2013
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Dec. 31, 2012
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| Troubled Debt Restructurings Balance And Activity [Line Items] | ||||||||||||
| Performing TDRs, end of period | $ 65,773 | $ 67,775 | ||||||||||
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TDRs [Member]
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| Troubled Debt Restructurings Balance And Activity [Line Items] | ||||||||||||
| Performing TDRs, beginning of period | 67,775 | 72,852 | 72,852 | |||||||||
| New TDR Status | 17,882 | 14,412 | ||||||||||
| Paydowns | (2,237) | (46) | ||||||||||
| Charge-offs post modification | (121) | 0 | ||||||||||
| Transfer to nonaccrual, past due 90 days or greater | (4,830) | (4,796) | ||||||||||
| Cured | (12,341) | (10,371) | ||||||||||
| Other, net | (355) | [1] | 30 | [1] | ||||||||
| Performing TDRs, end of period | 65,773 | 72,081 | 67,775 | |||||||||
| Non-performing TDRs, end of period | 25,808 | [2],[3] | 18,720 | [2] | 24,603 | [3] | ||||||
| Performing TDRs | 72.00% | 79.00% | 73.00% | |||||||||
| Non-performing TDRs | 28.00% | 21.00% | 27.00% | |||||||||
| Transferred To OREO | $ 203 | |||||||||||
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Investment Securities (Significant Assumptions of Other-Than-Temporarily Impaired Securities) (Detail)
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3 Months Ended | |||||||||
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Mar. 31, 2013
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Mar. 31, 2012
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| Investment [Line Items] | ||||||||||
| Conditional repayment rate | 10.30% | [1] | 9.90% | [1] | ||||||
| Loss severity | 43.00% | [2] | 46.60% | [2] | ||||||
| Conditional default rate | 3.80% | [3] | 6.00% | [3] | ||||||
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Securitizations and Variable Interest Entities ("VIEs") (Tables)
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Mar. 31, 2013
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| Schedule Of Delinquencies, Net Credit Losses, And Components Of Loan And Lease Sales |
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| Schedule Of Certain Cash Flows Received From Or Conveyed To VIEs Associated With Securitizations |
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Fair Value Disclosures (Assets Measured at Fair Value on a Nonrecurring Basis) (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
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Dec. 31, 2012
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| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Impaired loans | $ 69,443 | $ 65,731 |
| Foreclosed assets | 22,557 | 26,245 |
| Total Impaired loans and Foreclosed assets | 92,000 | 91,976 |
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Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
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| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Impaired loans | 0 | 0 |
| Foreclosed assets | 0 | 0 |
| Total Impaired loans and Foreclosed assets | 0 | 0 |
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Significant Other Observable Inputs (Level 2) [Member]
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| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Impaired loans | 0 | 0 |
| Foreclosed assets | 0 | 0 |
| Total Impaired loans and Foreclosed assets | 0 | 0 |
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Significant Unobservable Inputs (Level 3) [Member]
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| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Impaired loans | 69,443 | 65,731 |
| Foreclosed assets | 22,557 | 26,245 |
| Total Impaired loans and Foreclosed assets | $ 92,000 | $ 91,976 |
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Derivative Financial Instruments (Narrative) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 3 Months Ended | 3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|
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Mar. 31, 2013
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Dec. 31, 2012
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Mar. 31, 2013
Not Designated As Hedging Instruments [Member]
DerivativeInstruments
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Mar. 31, 2012
Not Designated As Hedging Instruments [Member]
DerivativeInstruments
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Mar. 31, 2013
Cash Flow Hedges [Member]
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Mar. 31, 2012
Cash Flow Hedges [Member]
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Mar. 31, 2013
Cash Flow Hedges [Member]
Interest Expense [Member]
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Mar. 31, 2013
Cash Flow Hedges [Member]
Interest Rate Swaps [Member]
DerivativeInstruments
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Mar. 31, 2012
Cash Flow Hedges [Member]
Interest Rate Swaps [Member]
DerivativeInstruments
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| Derivative [Line Items] | |||||||||
| Aggregate notional amount designated as cash flow hedges | $ 1,152,298 | $ 1,160,778 | |||||||
| Number of derivative instruments held | 231 | 95 | 14 | 14 | |||||
| Future annual time period | 12 months | ||||||||
| Estimated amount to be reclassified | 19,784 | ||||||||
| Aggregate notional amount derivative | 1,392,430 | 682,447 | |||||||
| Net loss related to changes in fair value of derivatives | 233 | 128 | |||||||
| Fair value of derivatives in net liability position with credit-risk-related Contingent Features | 67,111 | 72,126 | |||||||
| Cash collateral posted with derivative counterparties | $ 67,920 | $ 75,103 | |||||||
|
Loans and Leases (Outstanding Principal Balance and the Related Carrying Amount of Acquired Loans) (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
|
Loans Individually Evaluated For Impairment [Member]
|
||
| Acquired Loans Unpaid Principal Balance And Related Carrying Amount [Line Items] | ||
| Unpaid principal balance | $ 222,596 | $ 238,538 |
| Carrying amount | 156,525 | 162,251 |
|
Loans Collectively Evaluated For Impairment [Member]
|
||
| Acquired Loans Unpaid Principal Balance And Related Carrying Amount [Line Items] | ||
| Unpaid principal balance | 1,851,539 | 1,976,132 |
| Carrying amount | 1,844,879 | 1,967,032 |
|
Purchased Loan [Member]
|
||
| Acquired Loans Unpaid Principal Balance And Related Carrying Amount [Line Items] | ||
| Unpaid principal balance | 2,074,135 | 2,214,670 |
| Carrying amount | $ 2,001,404 | $ 2,129,283 |
|
Derivative Financial Instruments (Balance Sheet Netting) (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Derivative [Line Items] | ||
| Asset Derivatives | $ 24,690 | $ 25,915 |
| Liability Derivatives | 67,111 | 72,126 |
|
Offsetting Of Financial Assets [Member] | Gross Amounts Of Recognized Assets [Member]
|
||
| Derivative [Line Items] | ||
| Asset Derivatives | 24,695 | 25,922 |
|
Offsetting Of Financial Assets [Member] | Gross Amounts Offset In Consolidated Balance Sheet [Member]
|
||
| Derivative [Line Items] | ||
| Asset Derivatives | (5) | (7) |
|
Offsetting Of Financial Assets [Member] | Net Amounts Of Assets Presented In Consolidated Balance Sheet [Member]
|
||
| Derivative [Line Items] | ||
| Asset Derivatives | 24,690 | 25,915 |
|
Offsetting Of Financial Assets [Member] | Financial Instruments Gross Amounts Not Offset In Consolidated Balance Sheet [Member]
|
||
| Derivative [Line Items] | ||
| Asset Derivatives | 0 | 0 |
|
Offsetting Of Financial Assets [Member] | Cash Collateral Received Gross Amounts Not Offset In Consolidated Balance Sheet [Member]
|
||
| Derivative [Line Items] | ||
| Asset Derivatives | 0 | 0 |
|
Offsetting Of Financial Assets [Member] | Net Amount [Member]
|
||
| Derivative [Line Items] | ||
| Asset Derivatives | 24,690 | 25,915 |
|
Offsetting Of Financial Liabilities [Member] | Gross Amounts Of Recognized Liabilities [Member]
|
||
| Derivative [Line Items] | ||
| Liability Derivatives | 67,111 | 72,126 |
| Repurchase Agreements | 305,251 | 302,577 |
| Total Offsetting Financial Liabilities | 372,362 | 374,703 |
|
Offsetting Of Financial Liabilities [Member] | Gross Amounts Offset In Consolidated Balance Sheet [Member]
|
||
| Derivative [Line Items] | ||
| Liability Derivatives | 0 | 0 |
| Repurchase Agreements | 0 | 0 |
| Total Offsetting Financial Liabilities | 0 | 0 |
|
Offsetting Of Financial Liabilities [Member] | Net Amounts Of Liabilities Presented In Consolidated Balance Sheet [Member]
|
||
| Derivative [Line Items] | ||
| Liability Derivatives | 67,111 | 72,126 |
| Repurchase Agreements | 305,251 | 302,577 |
| Total Offsetting Financial Liabilities | 372,362 | 374,703 |
|
Offsetting Of Financial Liabilities [Member] | Financial Instruments Gross Amounts Not Offset In Consolidated Balance Sheet [Member]
|
||
| Derivative [Line Items] | ||
| Liability Derivatives | 0 | 0 |
| Repurchase Agreements | (305,251) | (302,577) |
| Total Offsetting Financial Liabilities | (305,251) | (302,577) |
|
Offsetting Of Financial Liabilities [Member] | Cash Collateral Posted Gross Amounts Not Offset In Consolidated Balance Sheet [Member]
|
||
| Derivative [Line Items] | ||
| Liability Derivatives | (67,920) | (75,103) |
| Repurchase Agreements | 0 | 0 |
| Total Offsetting Financial Liabilities | (67,920) | (75,103) |
|
Offsetting Of Financial Liabilities [Member] | Net Amount [Member]
|
||
| Derivative [Line Items] | ||
| Liability Derivatives | (809) | (2,977) |
| Repurchase Agreements | 0 | 0 |
| Total Offsetting Financial Liabilities | $ (809) | $ (2,977) |
|
Fair Value Disclosures (Carrying Amounts and Estimated Fair Values) (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
| Cash and due from banks | $ 291,434 | $ 277,042 |
| Restricted investment in bank stocks | 151,974 | 152,434 |
| Loans and leases | 12,823,326 | 12,710,721 |
| Deposits | 12,691,432 | 12,580,046 |
| Derivatives | 67,111 | 72,126 |
|
Carrying Amount [Member]
|
||
| Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
| Cash and due from banks | 291,434 | 277,042 |
| Short-term investments | 110,986 | 119,176 |
| Investment securities | 2,400,626 | 2,577,901 |
| Restricted investment in bank stocks | 151,974 | 152,434 |
| Loans and leases | 12,999,703 | 12,894,741 |
| Derivatives | 24,690 | 25,915 |
| Deposits | 12,691,432 | 12,580,046 |
| Short-term borrowings | 786,251 | 817,577 |
| FHLB borrowings | 1,044,480 | 1,199,062 |
| Long-term debt | 501,559 | 513,401 |
| Derivatives | 67,111 | 72,126 |
|
Fair Value [Member]
|
||
| Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
| Cash and due from banks | 291,434 | 277,042 |
| Short-term investments | 110,986 | 119,176 |
| Investment securities | 2,400,626 | 2,577,901 |
| Restricted investment in bank stocks | 151,974 | 152,434 |
| Loans and leases | 13,125,606 | 12,954,918 |
| Derivatives | 24,690 | 25,915 |
| Deposits | 12,694,058 | 12,544,069 |
| Short-term borrowings | 786,251 | 817,577 |
| FHLB borrowings | 1,045,777 | 1,200,358 |
| Long-term debt | 503,698 | 512,632 |
| Derivatives | 67,111 | 72,126 |
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
|
||
| Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
| Cash and due from banks | 291,434 | 277,042 |
| Short-term investments | 0 | 0 |
| Investment securities | 1,418 | 21,266 |
| Restricted investment in bank stocks | 0 | 0 |
| Loans and leases | 0 | 0 |
| Derivatives | 0 | 0 |
| Deposits | 0 | 0 |
| Short-term borrowings | 0 | 0 |
| FHLB borrowings | 0 | 0 |
| Long-term debt | 0 | 0 |
| Derivatives | 0 | 0 |
|
Significant Other Observable Inputs (Level 2) [Member]
|
||
| Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
| Cash and due from banks | 0 | 0 |
| Short-term investments | 110,986 | 119,176 |
| Investment securities | 2,360,482 | 2,517,129 |
| Restricted investment in bank stocks | 151,974 | 152,434 |
| Loans and leases | 0 | 0 |
| Derivatives | 24,690 | 25,915 |
| Deposits | 12,694,058 | 12,544,069 |
| Short-term borrowings | 786,251 | 817,577 |
| FHLB borrowings | 1,045,777 | 1,200,358 |
| Long-term debt | 503,698 | 512,632 |
| Derivatives | 67,111 | 72,126 |
|
Significant Unobservable Inputs (Level 3) [Member]
|
||
| Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
| Cash and due from banks | 0 | 0 |
| Short-term investments | 0 | 0 |
| Investment securities | 38,726 | 39,506 |
| Restricted investment in bank stocks | 0 | 0 |
| Loans and leases | 13,125,606 | 12,954,918 |
| Derivatives | 0 | 0 |
| Deposits | 0 | 0 |
| Short-term borrowings | 0 | 0 |
| FHLB borrowings | 0 | 0 |
| Long-term debt | 0 | 0 |
| Derivatives | $ 0 | $ 0 |
|
Fair Value Disclosures (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
||||||
|---|---|---|---|---|---|---|---|---|
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Total Assets | $ 2,425,316 | $ 2,603,816 | ||||||
| Derivatives, Liabilities | 67,111 | [1] | 72,126 | [1] | ||||
|
Designated As Hedging Instrument [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Derivatives, Assets | 934 | [2] | 878 | [2] | ||||
| Derivatives, Liabilities | 46,894 | [1] | 51,172 | [1] | ||||
|
Not Designated As Hedging Instruments [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Derivatives, Assets | 23,756 | [2] | 25,037 | [2] | ||||
| Derivatives, Liabilities | 20,217 | [1] | 20,954 | [1] | ||||
|
U.S. Government Agencies [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 114,136 | 114,408 | ||||||
|
Obligations Of States And Political Subdivisions [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 426,444 | 435,777 | ||||||
|
Agency Residential Mortgage-Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 1,716,976 | 1,880,562 | ||||||
|
Non-Agency Residential Mortgage-Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 26,238 | 27,450 | ||||||
|
Commercial Mortgage Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 36,894 | 40,380 | ||||||
|
Other Structured Financial Products [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 9,977 | 9,550 | ||||||
|
Other Debt Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 45,500 | 45,255 | ||||||
|
Other Equity Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 24,461 | 24,519 | ||||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Total Assets | 1,418 | 21,266 | ||||||
| Derivatives, Liabilities | 0 | [1] | 0 | [1] | ||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Designated As Hedging Instrument [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Derivatives, Assets | 0 | [2] | 0 | [2] | ||||
| Derivatives, Liabilities | 0 | [1] | 0 | [1] | ||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Not Designated As Hedging Instruments [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Derivatives, Assets | 0 | [2] | 0 | [2] | ||||
| Derivatives, Liabilities | 0 | [1] | 0 | [1] | ||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | U.S. Government Agencies [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Obligations Of States And Political Subdivisions [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Agency Residential Mortgage-Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Non-Agency Residential Mortgage-Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Commercial Mortgage Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Other Structured Financial Products [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Other Debt Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member] | Other Equity Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 1,418 | 21,266 | ||||||
|
Significant Other Observable Inputs (Level 2) [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Total Assets | 2,385,172 | 2,543,044 | ||||||
| Derivatives, Liabilities | 67,111 | [1] | 72,126 | [1] | ||||
|
Significant Other Observable Inputs (Level 2) [Member] | Designated As Hedging Instrument [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Derivatives, Assets | 934 | [2] | 878 | [2] | ||||
| Derivatives, Liabilities | 46,894 | [1] | 51,172 | [1] | ||||
|
Significant Other Observable Inputs (Level 2) [Member] | Not Designated As Hedging Instruments [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Derivatives, Assets | 23,756 | [2] | 25,037 | [2] | ||||
| Derivatives, Liabilities | 20,217 | [1] | 20,954 | [1] | ||||
|
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agencies [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 114,136 | 114,408 | ||||||
|
Significant Other Observable Inputs (Level 2) [Member] | Obligations Of States And Political Subdivisions [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 426,444 | 435,777 | ||||||
|
Significant Other Observable Inputs (Level 2) [Member] | Agency Residential Mortgage-Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 1,716,976 | 1,880,562 | ||||||
|
Significant Other Observable Inputs (Level 2) [Member] | Non-Agency Residential Mortgage-Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 646 | 650 | ||||||
|
Significant Other Observable Inputs (Level 2) [Member] | Commercial Mortgage Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 36,894 | 40,380 | ||||||
|
Significant Other Observable Inputs (Level 2) [Member] | Other Structured Financial Products [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Significant Other Observable Inputs (Level 2) [Member] | Other Debt Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 45,500 | 45,255 | ||||||
|
Significant Other Observable Inputs (Level 2) [Member] | Other Equity Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 19,886 | 97 | ||||||
|
Significant Unobservable Inputs (Level 3) [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Total Assets | 38,726 | 39,506 | ||||||
| Derivatives, Liabilities | 0 | [1] | 0 | [1] | ||||
|
Significant Unobservable Inputs (Level 3) [Member] | Designated As Hedging Instrument [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Derivatives, Assets | 0 | [2] | 0 | [2] | ||||
| Derivatives, Liabilities | 0 | [1] | 0 | [1] | ||||
|
Significant Unobservable Inputs (Level 3) [Member] | Not Designated As Hedging Instruments [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Derivatives, Assets | 0 | [2] | 0 | [2] | ||||
| Derivatives, Liabilities | 0 | [1] | 0 | [1] | ||||
|
Significant Unobservable Inputs (Level 3) [Member] | U.S. Government Agencies [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Significant Unobservable Inputs (Level 3) [Member] | Obligations Of States And Political Subdivisions [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Significant Unobservable Inputs (Level 3) [Member] | Agency Residential Mortgage-Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Significant Unobservable Inputs (Level 3) [Member] | Non-Agency Residential Mortgage-Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 25,592 | 26,800 | ||||||
|
Significant Unobservable Inputs (Level 3) [Member] | Commercial Mortgage Backed Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Significant Unobservable Inputs (Level 3) [Member] | Other Structured Financial Products [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 9,977 | 9,550 | ||||||
|
Significant Unobservable Inputs (Level 3) [Member] | Other Debt Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | 0 | 0 | ||||||
|
Significant Unobservable Inputs (Level 3) [Member] | Other Equity Securities [Member]
|
||||||||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||||
| Available-for-sale securities | $ 3,157 | $ 3,156 | ||||||
|
||||||||
|
Securitizations and Variable Interest Entities ("VIEs") (Schedule of Delinquencies, Net Credit Losses, and Components of Loan and Lease Sales) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|||||
| Securitizations And Variable Interest Entities [Line Items] | ||||||
| Recorded Investment | $ 12,999,703 | $ 12,521,669 | ||||
| Risk Assets | 132,304 | [1] | 179,703 | [1] | ||
| Net Credit Losses (Recoveries) | 20,056 | 12,610 | ||||
|
Loans And Leases Held In Portfolio [Member]
|
||||||
| Securitizations And Variable Interest Entities [Line Items] | ||||||
| Recorded Investment | 12,840,305 | 12,337,688 | ||||
| Risk Assets | 130,104 | [1] | 176,445 | [1] | ||
| Net Credit Losses (Recoveries) | 19,643 | 12,370 | ||||
|
Home Equity Loans Held By VIEs [Member]
|
||||||
| Securitizations And Variable Interest Entities [Line Items] | ||||||
| Recorded Investment | 159,398 | 183,981 | ||||
| Risk Assets | 2,200 | [1] | 3,258 | [1] | ||
| Net Credit Losses (Recoveries) | 413 | 240 | ||||
|
Leases Serviced For Others [Member]
|
||||||
| Securitizations And Variable Interest Entities [Line Items] | ||||||
| Recorded Investment | 0 | 0 | ||||
| Risk Assets | 0 | [1] | 0 | [1] | ||
| Net Credit Losses (Recoveries) | $ 0 | $ 0 | ||||
|
||||||
|
Investment Securities (Tables)
|
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Investment [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Amortized Cost and Fair Values of Investment Securities |
|
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| Amortized Cost and Fair Value of Total Debt Securities |
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| Gross Realized Gains and Gross Realized Losses on Available-for-Sale Securities |
|
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| Gross Unrealized Losses and Fair Values by Investment and Length of Time of Securities |
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| Credit Losses on Non-Agency Residential Mortgage-Backed Securities |
|
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| Significant Assumptions of Other-Than-Temporarily Impaired Securities |
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| Present Value of Expected Cash Flows for Company's Specific Class and Subordinate Classes |
|
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|
Loans & Leases (Narrative) (Detail) (USD $)
|
Mar. 31, 2013
|
|---|---|
| Financing Receivable Recorded Investment [Line Items] | |
| Significant Credit Rating Loans | $ 1,000,000 |
|
Investment Securities (Amortized Cost and Fair Value of Total Debt Securities) (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Schedule Of Available For Sale Securities [Line Items] | ||
| Securities available for sale, Within one year - Amortized Cost | $ 8,103 | $ 8,690 |
| Securities available for sale, After one year but within five years - Amortized Cost | 140,707 | 141,362 |
| Securities available for sale, After five years but within ten years - Amortized Cost | 870,496 | 935,796 |
| Securities available for sale, After ten years - Amortized Cost | 1,306,844 | 1,410,879 |
| Securities available for sale - Amortized Cost | 2,326,150 | 2,496,727 |
| Securities available for sale, Within one year - Fair Value | 8,175 | 8,781 |
| Securities available for sale, After one year but within five years - Fair Value | 142,617 | 143,714 |
| Securities available for sale, After five years but within ten years - Fair Value | 886,715 | 952,680 |
| Securities available for sale, After ten years - Fair Value | 1,338,658 | 1,448,207 |
| Securities available for sale - Fair Value | $ 2,376,165 | $ 2,553,382 |
|
Derivative Financial Instruments (Effect of Derivative Instruments on Earnings) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
|
Not Designated As Hedging Instruments [Member]
|
||
| Derivative Instruments Gain Loss [Line Items] | ||
| Amount Of Loss Recognized In Income On Derivatives | $ 233 | $ 128 |
|
Cash Flow Hedges [Member] | Interest Rate Contract [Member]
|
||
| Derivative Instruments Gain Loss [Line Items] | ||
| Amount Of Gain Recognized In OCI | 2,796 | 1,698 |
|
Interest Expense [Member] | Cash Flow Hedges [Member] | Interest Rate Contract [Member]
|
||
| Derivative Instruments Gain Loss [Line Items] | ||
| Amount Of Loss Reclassified From Accumulated OCI Into Income | (4,534) | (4,280) |
|
Other Expense [Member] | Interest Rate Contract [Member] | Not Designated As Hedging Instruments [Member]
|
||
| Derivative Instruments Gain Loss [Line Items] | ||
| Amount Of Loss Recognized In Income On Derivatives | (1) | (31) |
|
Other Expense [Member] | Cash Flow Hedges [Member] | Interest Rate Contract [Member]
|
||
| Derivative Instruments Gain Loss [Line Items] | ||
| Amount Of Loss Recognized In Income (Ineffective Portion) | 0 | 0 |
|
Other Income [Member] | Interest Rate Contract [Member] | Not Designated As Hedging Instruments [Member]
|
||
| Derivative Instruments Gain Loss [Line Items] | ||
| Amount Of Loss Recognized In Income On Derivatives | $ (232) | $ (97) |
|
Acquisitions (Identifiable Assets and Liabilities Assumed) (Detail) (Tower [Member], USD $)
In Thousands, unless otherwise specified |
2 Months Ended |
|---|---|
|
Feb. 17, 2012
|
|
|
Tower [Member]
|
|
| Business Acquisition [Line Items] | |
| Value of, Common shares issued and options assumed | $ 302,112 |
| Value of, Cash | 88,005 |
| Total purchase price | 390,117 |
| Cash and due from banks | 85,518 |
| Unrestricted short-term investments | 9,171 |
| Securities available for sale | 137,254 |
| Loans and leases | 1,975,488 |
| Intangible assets | 27,334 |
| Other assets | 153,357 |
| Total identifiable assets | 2,388,122 |
| Deposits | 2,074,372 |
| Short-term borrowings | 10,228 |
| Long-term borrowings | 103,923 |
| Other liabilities | 66,890 |
| Total liabilities | 2,255,413 |
| Net goodwill resulting from acquisition | $ 257,408 |
|
Loans and Leases (Age Analysis of Past Due Financing Receivables) (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
|
Financing Receivables That Are Accruing [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | $ 47,843 | $ 57,241 |
| 60-89 Days Past Due | 11,197 | 22,754 |
| Greater than 90 Days | 6,396 | 8,209 |
| Total Past Due | 65,436 | 88,204 |
| Current | 12,830,916 | 12,708,770 |
| Total Financing Receivables,Accruing | 12,896,352 | 12,796,974 |
|
Financing Receivables That Are Accruing [Member] | Originated Loans And Leases [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 42,585 | 51,679 |
| 60-89 Days Past Due | 10,557 | 21,471 |
| Greater than 90 Days | 5,490 | 5,720 |
| Total Past Due | 58,632 | 78,870 |
| Current | 10,846,201 | 10,596,166 |
| Total Financing Receivables,Accruing | 10,904,833 | 10,675,036 |
|
Financing Receivables That Are Accruing [Member] | Purchased Loans And Leases [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 5,258 | 5,562 |
| 60-89 Days Past Due | 640 | 1,283 |
| Greater than 90 Days | 906 | 2,489 |
| Total Past Due | 6,804 | 9,334 |
| Current | 1,984,715 | 2,112,604 |
| Total Financing Receivables,Accruing | 1,991,519 | 2,121,938 |
|
Financing Receivables That Are Accruing [Member] | Commercial Loan [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 4,106 | 5,163 |
| 60-89 Days Past Due | 783 | 762 |
| Greater than 90 Days | 988 | 359 |
| Total Past Due | 5,877 | 6,284 |
| Current | 2,297,241 | 2,256,863 |
| Total Financing Receivables,Accruing | 2,303,118 | 2,263,147 |
|
Financing Receivables That Are Accruing [Member] | Real Estate - Construction [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 1,206 | 8,568 |
| 60-89 Days Past Due | 575 | 1,614 |
| Greater than 90 Days | 382 | 157 |
| Total Past Due | 2,163 | 10,339 |
| Current | 758,236 | 822,625 |
| Total Financing Receivables,Accruing | 760,399 | 832,964 |
|
Financing Receivables That Are Accruing [Member] | Real Estate Secured - Residential [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 19,043 | 19,544 |
| 60-89 Days Past Due | 3,863 | 4,467 |
| Greater than 90 Days | 4,237 | 5,547 |
| Total Past Due | 27,143 | 29,558 |
| Current | 4,020,295 | 4,007,820 |
| Total Financing Receivables,Accruing | 4,047,438 | 4,037,378 |
|
Financing Receivables That Are Accruing [Member] | Real Estate Secured - Commercial [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 9,687 | 9,623 |
| 60-89 Days Past Due | 5,427 | 13,746 |
| Greater than 90 Days | 0 | 1,394 |
| Total Past Due | 15,114 | 24,763 |
| Current | 3,912,983 | 3,897,224 |
| Total Financing Receivables,Accruing | 3,928,097 | 3,921,987 |
|
Financing Receivables That Are Accruing [Member] | Consumer [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 10,336 | 8,898 |
| 60-89 Days Past Due | 303 | 1,678 |
| Greater than 90 Days | 603 | 545 |
| Total Past Due | 11,242 | 11,121 |
| Current | 848,385 | 831,388 |
| Total Financing Receivables,Accruing | 859,627 | 842,509 |
|
Financing Receivables That Are Accruing [Member] | Leases [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 3,465 | 5,445 |
| 60-89 Days Past Due | 246 | 487 |
| Greater than 90 Days | 186 | 207 |
| Total Past Due | 3,897 | 6,139 |
| Current | 993,776 | 892,850 |
| Total Financing Receivables,Accruing | 997,673 | 898,989 |
|
Financing Receivables That Are Nonaccruing [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 6,123 | 4,067 |
| 60-89 Days Past Due | 5,175 | 2,784 |
| Greater than 90 Days | 68,265 | 70,507 |
| Total Past Due | 79,563 | 77,358 |
| Current | 23,788 | 20,409 |
| Total Financing Receivables, Nonaccruing | 103,351 | 97,767 |
|
Financing Receivables That Are Nonaccruing [Member] | Originated Loans And Leases [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 5,705 | 4,067 |
| 60-89 Days Past Due | 4,453 | 2,379 |
| Greater than 90 Days | 63,155 | 65,830 |
| Total Past Due | 73,313 | 72,276 |
| Current | 20,153 | 18,146 |
| Total Financing Receivables, Nonaccruing | 93,466 | 90,422 |
|
Financing Receivables That Are Nonaccruing [Member] | Purchased Loans And Leases [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 418 | 0 |
| 60-89 Days Past Due | 722 | 405 |
| Greater than 90 Days | 5,110 | 4,677 |
| Total Past Due | 6,250 | 5,082 |
| Current | 3,635 | 2,263 |
| Total Financing Receivables, Nonaccruing | 9,885 | 7,345 |
|
Financing Receivables That Are Nonaccruing [Member] | Commercial Loan [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 632 | 631 |
| 60-89 Days Past Due | 725 | 649 |
| Greater than 90 Days | 4,876 | 6,068 |
| Total Past Due | 6,233 | 7,348 |
| Current | 3,309 | 3,116 |
| Total Financing Receivables, Nonaccruing | 9,542 | 10,464 |
|
Financing Receivables That Are Nonaccruing [Member] | Real Estate - Construction [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 0 | 0 |
| 60-89 Days Past Due | 1,983 | 405 |
| Greater than 90 Days | 15,798 | 14,047 |
| Total Past Due | 17,781 | 14,452 |
| Current | 1,164 | 365 |
| Total Financing Receivables, Nonaccruing | 18,945 | 14,817 |
|
Financing Receivables That Are Nonaccruing [Member] | Real Estate Secured - Residential [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 2,342 | 953 |
| 60-89 Days Past Due | 330 | 452 |
| Greater than 90 Days | 19,204 | 19,551 |
| Total Past Due | 21,876 | 20,956 |
| Current | 8,496 | 7,484 |
| Total Financing Receivables, Nonaccruing | 30,372 | 28,440 |
|
Financing Receivables That Are Nonaccruing [Member] | Real Estate Secured - Commercial [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 3,149 | 2,483 |
| 60-89 Days Past Due | 1,682 | 622 |
| Greater than 90 Days | 28,171 | 30,433 |
| Total Past Due | 33,002 | 33,538 |
| Current | 10,339 | 9,083 |
| Total Financing Receivables, Nonaccruing | 43,341 | 42,621 |
|
Financing Receivables That Are Nonaccruing [Member] | Consumer [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 0 | 0 |
| 60-89 Days Past Due | 0 | 0 |
| Greater than 90 Days | 0 | 0 |
| Total Past Due | 0 | 0 |
| Current | 37 | 43 |
| Total Financing Receivables, Nonaccruing | 37 | 43 |
|
Financing Receivables That Are Nonaccruing [Member] | Leases [Member]
|
||
| Financing Receivable Recorded Investment Past Due [Line Items] | ||
| 30-59 Days Past Due | 0 | 0 |
| 60-89 Days Past Due | 455 | 656 |
| Greater than 90 Days | 216 | 408 |
| Total Past Due | 671 | 1,064 |
| Current | 443 | 318 |
| Total Financing Receivables, Nonaccruing | $ 1,114 | $ 1,382 |
|
Accumulated Other Comprehensive Loss (Reclassification Detail) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | ||||
|---|---|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
||||
| Accumulated Other Comprehensive Income Loss [Line Items] | |||||
| Net realized gain on sales of securities | $ 406 | $ 385 | |||
| Net impairment losses recognized in earnings | (388) | (144) | |||
| Unrealized gains (losses) on cash flow hedges | (4,405) | (2,804) | |||
| Tax effect | 1,609 | 1,106 | |||
| Cash Flow Hedges Net Of Tax | (2,796) | (1,698) | |||
| Total Reclassifications Net Of Tax | 2,958 | ||||
|
Unrealized Gains On Available For Sale Securities [Member]
|
|||||
| Accumulated Other Comprehensive Income Loss [Line Items] | |||||
| Net realized gain on sales of securities | 406 | ||||
| Net impairment losses recognized in earnings | (388) | ||||
| Net Security Gain | 18 | ||||
| Investment Securities Tax Expense | (7) | ||||
| Investment Securities Net Of Tax | 11 | ||||
|
Unrealized Losses On Cash Flow Hedges [Member]
|
|||||
| Accumulated Other Comprehensive Income Loss [Line Items] | |||||
| Cash Flow Hedges Net Of Tax | (2,947) | ||||
|
Unrealized Losses On Cash Flow Hedges [Member] | Interest Rate Contract [Member]
|
|||||
| Accumulated Other Comprehensive Income Loss [Line Items] | |||||
| Unrealized gains (losses) on cash flow hedges | 4,534 | [1] | |||
| Tax effect | (1,587) | ||||
| Cash Flow Hedges Net Of Tax | $ 2,947 | ||||
|
|||||
|
Goodwill (Key Ratios to Measure Goodwill of Bank Reporting Unit for Impairment) (Detail) (Bank Reporting Unit [Member], USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
May 31, 2012
Ratios
|
Mar. 31, 2013
|
|
| Goodwill [Line Items] | ||
| Key ratios considered in measuring the fair value of the bank reporting unit | 2 | |
| Goodwill | $ 1,158,248 | $ 1,165,200 |
| Fair value of the bank reporting unit exceeded carrying value | 5.90% | |
|
Annual [Member]
|
||
| Goodwill [Line Items] | ||
| Price to book | 1.29 | |
| Price to tangible book | 1.47 |
|
Investment Securities (Present Value of Expected Cash Flows for Company's Specific Class and Subordinate Classes) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|||||||||
|
Pooled Trust #1 [Member]
|
||||||||||
| Pooled Trust Preferred Securities [Line Items] | ||||||||||
| Class | B | B | ||||||||
| Class face value | $ 35,000 | $ 35,000 | ||||||||
| Book value | 3,000 | 3,000 | ||||||||
| Fair value | 1,245 | 967 | ||||||||
| Unrealized loss | (1,755) | (2,033) | ||||||||
| Present value of expected cash flows for class noted above and all subordinated classes | 150,775 | [1] | 151,043 | [1] | ||||||
| Lowest credit rating assigned | D | CCC- | ||||||||
| Original collateral | 623,984 | 623,984 | ||||||||
| Performing collateral | 361,842 | 352,028 | ||||||||
| Actual defaults | 30,000 | 10,000 | ||||||||
| Actual deferrals | 77,400 | 107,400 | ||||||||
| Projected future defaults | 61,045 | 72,893 | ||||||||
| Actual defaults as a % of original collateral | 4.80% | 1.60% | ||||||||
| Actual deferrals as a % of original collateral | 12.40% | [2] | 17.20% | [2] | ||||||
| Actual defaults and deferrals as a % of original collateral | 17.20% | 18.80% | ||||||||
| Actual institutions deferring and defaulted as a % of total institutions | 18.50% | 19.40% | ||||||||
| Projected future defaults as a % of performing collateral plus deferrals | 13.90% | 15.90% | ||||||||
| Projected future defaults as a % of original collateral | 9.80% | [3] | 11.70% | [3] | ||||||
|
Pooled Trust #2 [Member]
|
||||||||||
| Pooled Trust Preferred Securities [Line Items] | ||||||||||
| Class | B | B | ||||||||
| Class face value | 58,922 | 58,363 | ||||||||
| Book value | 7,183 | 7,096 | ||||||||
| Fair value | 3,068 | 2,438 | ||||||||
| Unrealized loss | (4,115) | (4,658) | ||||||||
| Present value of expected cash flows for class noted above and all subordinated classes | 178,443 | [1] | 171,529 | [1] | ||||||
| Lowest credit rating assigned | Ca | Ca | ||||||||
| Original collateral | 501,470 | 501,470 | ||||||||
| Performing collateral | 295,080 | 300,200 | ||||||||
| Actual defaults | 51,580 | 51,580 | ||||||||
| Actual deferrals | 125,810 | 120,690 | ||||||||
| Projected future defaults | 53,910 | 71,392 | ||||||||
| Actual defaults as a % of original collateral | 10.30% | 10.30% | ||||||||
| Actual deferrals as a % of original collateral | 25.10% | [2] | 24.10% | [2] | ||||||
| Actual defaults and deferrals as a % of original collateral | 35.40% | 34.40% | ||||||||
| Actual institutions deferring and defaulted as a % of total institutions | 37.50% | 37.50% | ||||||||
| Projected future defaults as a % of performing collateral plus deferrals | 12.80% | 17.00% | ||||||||
| Projected future defaults as a % of original collateral | 10.80% | [3] | 14.20% | [3] | ||||||
|
Pooled Trust #3 [Member]
|
||||||||||
| Pooled Trust Preferred Securities [Line Items] | ||||||||||
| Class | B | B | ||||||||
| Class face value | 88,670 | 87,962 | ||||||||
| Book value | 8,116 | 8,033 | ||||||||
| Fair value | 3,444 | 2,718 | ||||||||
| Unrealized loss | (4,672) | (5,315) | ||||||||
| Present value of expected cash flows for class noted above and all subordinated classes | 308,449 | [1] | 277,791 | [1] | ||||||
| Lowest credit rating assigned | Ca | Ca | ||||||||
| Original collateral | 700,535 | 700,535 | ||||||||
| Performing collateral | 484,731 | 470,831 | ||||||||
| Actual defaults | 44,000 | 44,000 | ||||||||
| Actual deferrals | 96,150 | 135,150 | ||||||||
| Projected future defaults | 47,105 | 60,702 | ||||||||
| Actual defaults as a % of original collateral | 6.30% | 6.30% | ||||||||
| Actual deferrals as a % of original collateral | 13.70% | [2] | 19.30% | [2] | ||||||
| Actual defaults and deferrals as a % of original collateral | 20.00% | 25.60% | ||||||||
| Actual institutions deferring and defaulted as a % of total institutions | 25.40% | 30.40% | ||||||||
| Projected future defaults as a % of performing collateral plus deferrals | 8.10% | 10.00% | ||||||||
| Projected future defaults as a % of original collateral | 6.70% | [3] | 8.70% | [3] | ||||||
|
Pooled Trust #4 [Member]
|
||||||||||
| Pooled Trust Preferred Securities [Line Items] | ||||||||||
| Class | A2L | A2L | ||||||||
| Class face value | 45,500 | 45,500 | ||||||||
| Book value | 6,750 | 6,750 | ||||||||
| Fair value | 2,220 | 1,897 | ||||||||
| Unrealized loss | (4,530) | (4,853) | ||||||||
| Present value of expected cash flows for class noted above and all subordinated classes | 147,139 | [1] | 142,866 | [1] | ||||||
| Lowest credit rating assigned | Ca | Ca | ||||||||
| Original collateral | 487,680 | 487,680 | ||||||||
| Performing collateral | 281,600 | 344,600 | ||||||||
| Actual defaults | 77,100 | 74,500 | ||||||||
| Actual deferrals | 93,080 | 43,080 | ||||||||
| Projected future defaults | $ 42,053 | $ 46,548 | ||||||||
| Actual defaults as a % of original collateral | 15.80% | 15.30% | ||||||||
| Actual deferrals as a % of original collateral | 19.10% | [2] | 8.80% | [2] | ||||||
| Actual defaults and deferrals as a % of original collateral | 34.90% | 24.10% | ||||||||
| Actual institutions deferring and defaulted as a % of total institutions | 41.80% | 30.90% | ||||||||
| Projected future defaults as a % of performing collateral plus deferrals | 11.20% | 12.00% | ||||||||
| Projected future defaults as a % of original collateral | 8.60% | [3] | 9.50% | [3] | ||||||
|
||||||||||
|
Summary of Significant Accounting Policies
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| Summary of Significant Accounting Policies | NOTE 1. Summary of Significant Accounting Policies
The information contained in this report is unaudited.
Basis of Presentation
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information. Certain prior-year amounts have been reclassified to conform to current period classifications and those reclassifications are not material to previously issued financial statements. In the opinion of management, the information reflects all normal recurring adjustments necessary for a fair statement of results for the three months ended March 31, 2013 and 2012. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. Operating results for the three-month period ended March 31, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013.
The accounting policies of Susquehanna Bancshares, Inc. and Subsidiaries ("Susquehanna"), as applied in the consolidated interim financial statements presented herein, are substantially the same as those followed on an annual basis as presented on pages 79 through 84 of Susquehanna's Annual Report on Form 10-K for the fiscal year ended December 31, 2012.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported and contingent amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting periods. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change relate to the estimated residual value of leases; determination of the allowance for loan and lease losses; the fair value of financial instruments, such as loans, investment securities, and derivatives; measurement and assessment of goodwill, intangible assets, and other purchase accounting related adjustments; benefit plan obligations and expenses; and income tax assets, liabilities and expenses.
Recently Adopted Accounting Guidance
In December 2011, FASB issued ASU 2011-11, Balance Sheet (Topic 210) - Disclosures about Offsetting Assets and Liabilities. This ASU requires an entity to disclose the nature of its rights of setoff and related arrangements associated with its financial instruments and derivative instruments. The objective of ASU 2011-11 is to make financial statements that are prepared under U.S. generally accepted accounting principles (“GAAP”) more comparable to those prepared under International Financial Reporting Standards. The new disclosures will give financial statement users information about both gross and net exposures. ASU 2011-11 is effective for interim and annual reporting periods beginning after January 1, 2013 and will be applied on a retrospective basis. The adoption of the amendment, in the first quarter of 2013, did not have a material impact on the financial condition or results of operations.
In July 2012, FASB issued ASU 2012-02, Intangibles – Goodwill and Other (Topic 350) – Testing Indefinite – Lived Intangible Assets for Impairment. This ASU clarifies the assessment options and testing processes previously defined in ASU 2011-08, Intangibles – Goodwill and Other (Topic 350) – Testing Goodwill for Impairment issued in September 2011. ASU 2012-02 is effective for interim and annual impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this guidance, in the first quarter of 2013, did not have a material impact on results of operations or financial condition.
In January 2013, FASB issued ASU 2013-01, Balance Sheet (Topic 210) – Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. This ASU clarifies that the scope of Update 2011-11 applies to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, issued in December 2011. ASU 2013-01 is effective for interim and annual reporting periods beginning on or after January 1, 2013. The adoption of this guidance, in the first quarter of 2013, did not have a material impact on the results of operations or financial condition, however did result in an additional disclosure. For additional information about this disclosure, refer to “Note 13. Derivative Financial Instruments”.
In February 2013, FASB issued ASU 2013-02, Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income in Update No. 2011-12. This ASU requires entities to disclose information regarding reclassification adjustments from accumulated other comprehensive income in their annual financial statements in a single note or on the face of the financial statements. ASU 2013-02 is effective for interim and annual reporting periods beginning after December 15, 2012. The adoption of this guidance, in the first quarter of 2013, did not have a material impact on results of operations or financial condition, however did result in additional disclosures. For more information about these disclosures, refer to Note 9. Accumulated Other Comprehensive Income”. |
|
Goodwill (Factors Used to Measure Goodwill in Income Approach) (Detail) (Wealth Management Reporting Unit [Member], USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
May 31, 2012
|
Mar. 31, 2013
|
|
| Goodwill [Line Items] | ||
| Goodwill | $ 82,746 | $ 82,746 |
| Future economic benefit period, in years | 10 years | |
| Fair value of the wealth management reporting unit exceeding carrying value | 63.40% | |
|
Annual [Member]
|
||
| Goodwill [Line Items] | ||
| Discount rate | 17.50% | |
| Weighted-average increase in revenues | 6.00% | |
| Weighted-average increase in expenses | 5.00% |
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