Loans (Tables)

6 Months Ended

Jun. 30, 2014

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

The detail of the loan portfolio as of June 30, 2014 and December 31, 2013 was as follows:



	June 30, 2014						December 31, 2013
	Non-PCI Loans		PCI Loans		Total		Non-PCI Loans		PCI Loans		Total
	(in thousands)
Non-covered loans:
Commercial and industrial	$	1,910,990	$	153,761	$	2,064,751	$	1,820,136	$	174,948	$	1,995,084
Commercial real estate:
Commercial real estate	4,707,209		393,233		5,100,442		4,521,920		459,755		4,981,675
Construction	396,962		16,300		413,262		406,877		22,354		429,231
Total commercial real estate loans	5,104,171		409,533		5,513,704		4,928,797		482,109		5,410,906
Residential mortgage	2,447,974		13,542		2,461,516		2,485,239		14,726		2,499,965
Consumer:
Home equity	400,303		36,057		436,360		410,875		38,134		449,009
Automobile	1,021,782		—		1,021,782		901,399		—		901,399
Other consumer	252,603		159		252,762		214,898		186		215,084
Total consumer loans	1,674,688		36,216		1,710,904		1,527,172		38,320		1,565,492
Total non-covered loans	11,137,823		613,052		11,750,875		10,761,344		710,103		11,471,447
Covered loans:
Commercial and industrial	—		15,861		15,861		—		26,249		26,249
Commercial real estate	—		38,738		38,738		—		61,494		61,494
Residential mortgage	—		7,448		7,448		—		7,623		7,623
Consumer	—		506		506		—		799		799
Total covered loans	—		62,553		62,553		—		96,165		96,165
Total loans	$	11,137,823	$	675,605	$	11,813,428	$	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 and six months ended June 30, 2014 and 2013:



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)
Balance, beginning of period	$	209,865		$	153,138		$	223,799		$	169,309
Accretion	(17,509		)	(17,639		)	(31,443		)	(33,874		)
Net (decrease) increase in expected cash flows	(70,014		)	120,884			(70,014		)	120,948
Balance, end of period	$	122,342		$	256,383		$	122,342		$	256,383

Changes in FDIC Loss-Share Receivable

Changes in the FDIC loss-share receivable for the three and six months ended June 30, 2014 and 2013 were as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)
Balance, beginning of the period	$	31,257		$	43,413		$	32,757		$	44,996
Discount accretion of the present value at the acquisition dates	12			32			23			65
Effect of additional cash flows on covered loans (prospective recognition)	(2,104		)	(3,467		)	(3,960		)	(4,949		)
Decrease in the provision for losses on covered loans	(4,417		)	(105		)	(4,417		)	(2,783		)
Other reimbursable expenses	990			1,540			1,503			2,492
(Reimbursements from) payments to the FDIC	(2,859		)	(727		)	(4,283		)	865
Other	(2,192		)	—			(936		)	—
Balance, end of the period	$	20,687		$	40,686		$	20,687		$	40,686

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 June 30, 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)
June 30, 2014
Commercial and industrial	$	4,918	$	783	$	450	$	8,096	$	14,247	$	1,896,743	$	1,910,990
Commercial real estate:
Commercial real estate	3,493		57		2,212		32,507		38,269		4,668,940		4,707,209
Construction	3,988		5,332		—		6,534		15,854		381,108		396,962
Total commercial real estate loans	7,481		5,389		2,212		39,041		54,123		5,050,048		5,104,171
Residential mortgage	7,865		1,989		546		19,190		29,590		2,418,384		2,447,974
Consumer loans:
Home equity	727		327		—		1,985		3,039		397,264		400,303
Automobile	2,190		320		144		121		2,775		1,019,007		1,021,782
Other consumer	433		141		17		—		591		252,012		252,603
Total consumer loans	3,350		788		161		2,106		6,405		1,668,283		1,674,688
Total	$	23,614	$	8,949	$	3,369	$	68,433	$	104,365	$	11,033,458	$	11,137,823
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 June 30, 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)
June 30, 2014
Commercial and industrial	$	4,215	$	27,699	$	31,914	$	38,362	$	5,586
Commercial real estate:
Commercial real estate	43,114		46,823		89,937		92,520		5,891
Construction	11,374		5,882		17,256		18,426		731
Total commercial real estate loans	54,488		52,705		107,193		110,946		6,622
Residential mortgage	5,573		20,753		26,326		29,275		3,539
Consumer loans:
Home equity	420		977		1,397		1,507		63
Total consumer loans	420		977		1,397		1,507		63
Total	$	64,696	$	102,134	$	166,830	$	180,090	$	15,810
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 tables present by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2014 and 2013:



	Three Months Ended June 30,
	2014				2013
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(in thousands)
Commercial and industrial	$	34,698	$	290	$	56,017	$	412
Commercial real estate:
Commercial real estate	93,123		924		114,066		866
Construction	19,061		154		19,932		70
Total commercial real estate loans	112,184		1,078		133,998		936
Residential mortgage	26,473		402		29,099		349
Consumer loans:
Home equity	1,427		29		1,174		14
Total consumer loans	1,427		29		1,174		14
Total	$	174,782	$	1,799	$	220,288	$	1,711

Pre-Modification and Post-Modification Outstanding Recorded Investments

The following table presents loans by loan portfolio class modified as TDRs during the three and six months ended June 30, 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 June 30, 2014 and 2013, respectively.



	Three Months Ended June 30, 2014					Three Months Ended June 30, 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	3	$	1,469	$	1,469	6	$	13,912	$	13,881
Commercial real estate:
Commercial real estate	3	689		710		4	7,275		7,266
Construction	1	457		457		4	4,936		4,979
Total commercial real estate	4	1,146		1,167		8	12,211		12,245
Residential mortgage	4	2,325		2,273		5	1,414		1,259
Consumer	1	132		132		1	74		74
Total	12	$	5,072	$	5,041	20	$	27,611	$	27,459

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 and six months ended June 30, 2014:



	Three Months Ended June 30, 2014			Six Months Ended June 30, 2014
Troubled Debt Restructurings Subsequently Defaulted	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	($ in thousands)
Commercial and industrial	1	$	1,943	1	$	1,943
Commercial real estate	—	$	—	3	5,866
Consumer	—	—		1	74
Total	1	$	1,943	5	$	7,883

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 June 30, 2014 and December 31, 2013.



Credit exposure - by internally assigned risk rating	Pass		Special Mention		Substandard		Doubtful		Total
	(in thousands)
June 30, 2014
Commercial and industrial	$	1,804,464	$	51,218	$	55,308	$	—	$	1,910,990
Commercial real estate	4,548,965		51,651		106,593		—		4,707,209
Construction	371,971		3,163		16,725		5,103		396,962
Total	$	6,725,400	$	106,032	$	178,626	$	5,103	$	7,015,161
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 those loan classes based on payment activity as of June 30, 2014 and December 31, 2013:



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total Non-PCI Loans
	(in thousands)
June 30, 2014
Residential mortgage	$	2,428,784	$	19,190	$	2,447,974
Home equity	398,318		1,985		400,303
Automobile	1,021,661		121		1,021,782
Other consumer	252,603		—		252,603
Total	$	4,101,366	$	21,296	$	4,122,662
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

The following table presents the recorded investment in PCI loans by class based on individual loan payment activity as of June 30, 2014 and December 31, 2013.



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total PCI Loans
	(in thousands)
June 30, 2014
Commercial and industrial	$	156,369	$	13,253	$	169,622
Commercial real estate	418,655		13,316		431,971
Construction	16,300		—		16,300
Residential mortgage	20,467		523		20,990
Consumer	36,352		370		36,722
Total	$	648,143	$	27,462	$	675,605
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