Loans (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of Loan Portfolio Non-Covered and Covered PCI Loans and Non-PCI Loans

The detail of the loan portfolio as of March 31, 2014 and December 31, 2013 was as follows:



	March 31, 2014						December 31, 2013
	Non-PCI Loans		PCI Loans		Total		Non-PCI Loans		PCI Loans		Total
	(in thousands)
Non-covered loans:
Commercial and industrial	$	1,853,938	$	165,161	$	2,019,099	$	1,820,136	$	174,948	$	1,995,084
Commercial real estate:
Commercial real estate	4,661,294		422,450		5,083,744		4,521,920		459,755		4,981,675
Construction	391,625		22,170		413,795		406,877		22,354		429,231
Total commercial real estate loans	5,052,919		444,620		5,497,539		4,928,797		482,109		5,410,906
Residential mortgage	2,457,677		14,503		2,472,180		2,485,239		14,726		2,499,965
Consumer:
Home equity	402,793		37,213		440,006		410,875		38,134		449,009
Automobile	957,036		—		957,036		901,399		—		901,399
Other consumer	227,632		172		227,804		214,898		186		215,084
Total consumer loans	1,587,461		37,385		1,624,846		1,527,172		38,320		1,565,492
Total non-covered loans	10,951,995		661,669		11,613,664		10,761,344		710,103		11,471,447
Covered loans:
Commercial and industrial	—		20,839		20,839		—		26,249		26,249
Commercial real estate	—		52,196		52,196		—		61,494		61,494
Residential mortgage	—		6,936		6,936		—		7,623		7,623
Consumer	—		959		959		—		799		799
Total covered loans	—		80,930		80,930		—		96,165		96,165
Total loans	$	10,951,995	$	742,599	$	11,694,594	$	10,761,344	$	806,268	$	11,567,612

Changes in Accretable Yield for Covered Loans

The following table presents changes in the accretable yield for PCI loans during the three months ended March 31, 2014 and 2013:



	Three Months Ended March 31,
	2014			2013
	(in thousands)
Balance, beginning of period	$	223,799		$	169,309
Accretion	(13,934		)	(16,235		)
Net increase in expected cash flows	—			64
Balance, end of period	$	209,865		$	153,138

Changes in FDIC Loss-Share Receivable

Changes in the FDIC loss-share receivable for the three months ended March 31, 2014 and 2013 were as follows:



	Three Months Ended March 31,
	2014			2013
	(in thousands)
Balance, beginning of the period	$	32,757		$	44,996
Discount accretion of the present value at the acquisition dates	11			33
Effect of additional cash flows on covered loans (prospective recognition)	(1,856		)	(1,482		)
Decrease in the provision for losses on covered loans	—			(2,678		)
Other reimbursable expenses	513			952
(Reimbursements from) payments to the FDIC	(1,424		)	1,592
Other	1,256			—
Balance, end of the period	$	31,257		$	43,413

Past Due, Non-Accrual and Current Non-Covered Loans by Loan Portfolio Class

The following table presents past due, non-accrual and current loans (excluding PCI loans, which are accounted for on a pool basis, and non-performing loans held for sale) by loan portfolio class at March 31, 2014 and December 31, 2013:



	Past Due and Non-Accrual Loans
	30-59 Days Past Due Loans		60-89 Days Past Due Loans		Accruing Loans 90 Days or More Past Due		Non-Accrual Loans		Total Past Due Loans		Current Non-PCI Loans		Total Non-PCI Loans
	(in thousands)
March 31, 2014
Commercial and industrial	$	5,689	$	599	$	199	$	8,293	$	14,780	$	1,839,158	$	1,853,938
Commercial real estate:
Commercial real estate	16,169		2,377		137		26,909		45,592		4,615,702		4,661,294
Construction	5,616		—		—		6,569		12,185		379,440		391,625
Total commercial real estate loans	21,785		2,377		137		33,478		57,777		4,995,142		5,052,919
Residential mortgage	6,238		1,721		1,033		20,720		29,712		2,427,965		2,457,677
Consumer loans:
Home equity	781		42		—		2,010		2,833		399,960		402,793
Automobile	1,841		524		199		139		2,703		954,333		957,036
Other consumer	63		47		6		—		116		227,516		227,632
Total consumer loans	2,685		613		205		2,149		5,652		1,581,809		1,587,461
Total	$	36,397	$	5,310	$	1,574	$	64,640	$	107,921	$	10,844,074	$	10,951,995
December 31, 2013
Commercial and industrial	$	6,398	$	571	$	233	$	21,029	$	28,231	$	1,791,905	$	1,820,136
Commercial real estate:
Commercial real estate	9,142		2,442		7,591		43,934		63,109		4,458,811		4,521,920
Construction	1,186		4,577		—		8,116		13,879		392,998		406,877
Total commercial real estate loans	10,328		7,019		7,591		52,050		76,988		4,851,809		4,928,797
Residential mortgage	6,595		1,939		1,549		19,949		30,032		2,455,207		2,485,239
Consumer loans:
Home equity	495		241		—		1,866		2,602		408,273		410,875
Automobile	2,957		489		85		169		3,700		897,699		901,399
Other consumer	340		54		33		—		427		214,471		214,898
Total consumer loans	3,792		784		118		2,035		6,729		1,520,443		1,527,172
Total	$	27,113	$	10,313	$	9,491	$	95,063	$	141,980	$	10,619,364	$	10,761,344

Impaired Loans

The following table presents the information about impaired loans by loan portfolio class at March 31, 2014 and December 31, 2013:



	Recorded Investment With No Related Allowance		Recorded Investment With Related Allowance		Total Recorded Investment		Unpaid Contractual Principal Balance		Related Allowance
	(in thousands)
March 31, 2014
Commercial and industrial	$	2,523	$	33,600	$	36,123	$	46,642	$	6,319
Commercial real estate:
Commercial real estate	45,671		38,048		83,719		87,478		6,246
Construction	11,324		7,873		19,197		20,347		907
Total commercial real estate loans	56,995		45,921		102,916		107,825		7,153
Residential mortgage	8,826		17,802		26,628		30,083		3,512
Consumer loans:
Home equity	1,067		254		1,321		1,473		98
Total consumer loans	1,067		254		1,321		1,473		98
Total	$	69,411	$	97,577	$	166,988	$	186,023	$	17,082
December 31, 2013
Commercial and industrial	$	3,806	$	43,497	$	47,303	$	59,891	$	11,032
Commercial real estate:
Commercial real estate	46,872		47,973		94,845		110,227		7,874
Construction	11,771		8,022		19,793		21,478		802
Total commercial real estate loans	58,643		55,995		114,638		131,705		8,676
Residential mortgage	10,082		18,231		28,313		32,664		3,735
Consumer loans:
Home equity	1,010		84		1,094		1,211		82
Total consumer loans	1,010		84		1,094		1,211		82
Total	$	73,541	$	117,807	$	191,348	$	225,471	$	23,525

Average Recorded Investment and Interest Income Recognized on Impaired Loans

The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2014 and 2013:



	Three Months Ended March 31,
	2014				2013
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(in thousands)
Commercial and industrial	$	46,784	$	369	$	55,266	$	376
Commercial real estate:
Commercial real estate	97,542		645		113,401		751
Construction	19,638		144		19,158		69
Total commercial real estate loans	117,180		789		132,559		820
Residential mortgage	27,509		260		28,268		183
Consumer loans:
Home equity	1,076		13		1,214		12
Total consumer loans	1,076		13		1,214		12
Total	$	192,549	$	1,431	$	217,307	$	1,391

Pre-Modification and Post-Modification Outstanding Recorded Investments

The following table presents loans by loan portfolio class modified as TDRs during the three months ended March 31, 2014 and 2013. The pre-modification and post-modification outstanding recorded investments disclosed in the table below represent the loan carrying amounts immediately prior to the modification and the carrying amounts at March 31, 2014 and 2013, respectively.



	Three Months Ended March 31, 2014					Three Months Ended March 31, 2013
Troubled Debt Restructurings	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
	($ in thousands)
Commercial and industrial	11	$	9,762	$	9,093	4	$	2,838	$	1,590
Commercial real estate:
Commercial real estate	5	15,946		15,060		5	4,454		4,461
Construction	1	4,827		4,827		1	538		538
Total commercial real estate	6	20,773		19,887		6	4,992		4,999
Residential mortgage	—	—		—		17	3,164		3,091
Consumer	—	—		—		5	378		329
Total	17	$	30,535	$	28,980	32	$	11,372	$	10,009

Non-Covered Loans Modified as TDR

The following table presents non-PCI loans modified as TDRs within the previous 12 months for which there was a payment default (90 days or more past due) during the three months ended March 31, 2014:



	Three Months Ended March 31, 2014
Troubled Debt Restructurings Subsequently Defaulted	Number of Contracts	Recorded Investment
	($ in thousands)
Commercial real estate	3	$	6,996
Consumer	1	74
Total	4	$	7,070

Risk Category of Loans

The following table presents the risk category of loans (excluding PCI loans) by class of loans based on the most recent analysis performed at March 31, 2014 and December 31, 2013.



Credit exposure - by internally assigned risk rating	Pass		Special Mention		Substandard		Doubtful		Total
	(in thousands)
March 31, 2014
Commercial and industrial	$	1,732,647	$	52,292	$	62,790	$	6,209	$	1,853,938
Commercial real estate	4,490,448		50,937		119,909		—		4,661,294
Construction	366,757		8,296		16,572		—		391,625
Total	$	6,589,852	$	111,525	$	199,271	$	6,209	$	6,906,857
December 31, 2013
Commercial and industrial	$	1,689,613	$	56,007	$	74,501	$	15	$	1,820,136
Commercial real estate	4,348,642		48,159		125,119		—		4,521,920
Construction	373,480		11,697		15,720		5,980		406,877
Total	$	6,411,735	$	115,863	$	215,340	$	5,995	$	6,748,933

Recorded Investment in Loan Classes Based on Payment Activity

The following table presents the recorded investment in PCI loans by class based on individual loan payment activity as of March 31, 2014 and December 31, 2013.



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total PCI Loans
	(in thousands)
March 31, 2014
Commercial and industrial	$	171,482	$	14,518	$	186,000
Commercial real estate	460,696		13,950		474,646
Construction	22,170		—		22,170
Residential mortgage	20,878		561		21,439
Consumer	37,597		747		38,344
Total	$	712,823	$	29,776	$	742,599
December 31, 2013
Commercial and industrial	$	185,185	$	16,012	$	201,197
Commercial real estate	498,184		23,065		521,249
Construction	16,791		5,563		22,354
Residential mortgage	21,381		968		22,349
Consumer	37,980		1,139		39,119
Total	$	759,521	$	46,747	$	806,268

The following table presents the recorded investment in those loan classes based on payment activity as of March 31, 2014 and December 31, 2013:



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total Non-PCI Loans
	(in thousands)
March 31, 2014
Residential mortgage	$	2,436,957	$	20,720	$	2,457,677
Home equity	400,783		2,010		402,793
Automobile	956,897		139		957,036
Other consumer	227,632		—		227,632
Total	$	4,022,269	$	22,869	$	4,045,138
December 31, 2013
Residential mortgage	$	2,465,290	$	19,949	$	2,485,239
Home equity	409,009		1,866		410,875
Automobile	901,230		169		901,399
Other consumer	214,898		—		214,898
Total	$	3,990,427	$	21,984	$	4,012,411