Loans (Tables)

9 Months Ended

Sep. 30, 2014

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

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



	September 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	$	1,941,470	$	135,042	$	2,076,512	$	1,820,136	$	174,948	$	1,995,084
Commercial real estate:
Commercial real estate	4,961,990		384,828		5,346,818		4,521,920		459,755		4,981,675
Construction	441,141		16,022		457,163		406,877		22,354		429,231
Total commercial real estate loans	5,403,131		400,850		5,803,981		4,928,797		482,109		5,410,906
Residential mortgage	2,423,044		12,978		2,436,022		2,485,239		14,726		2,499,965
Consumer:
Home equity	401,072		34,378		435,450		410,875		38,134		449,009
Automobile	1,091,287		—		1,091,287		901,399		—		901,399
Other consumer	275,685		149		275,834		214,898		186		215,084
Total consumer loans	1,768,044		34,527		1,802,571		1,527,172		38,320		1,565,492
Total non-covered loans	11,535,689		583,397		12,119,086		10,761,344		710,103		11,471,447
Covered loans:
Commercial and industrial	—		9,673		9,673		—		26,249		26,249
Commercial real estate	—		28,937		28,937		—		61,494		61,494
Residential mortgage	—		7,345		7,345		—		7,623		7,623
Consumer	—		336		336		—		799		799
Total covered loans	—		46,291		46,291		—		96,165		96,165
Total loans	$	11,535,689	$	629,688	$	12,165,377	$	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 nine months ended September 30, 2014 and 2013:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	(in thousands)
Balance, beginning of period	$	122,342		$	256,383		$	223,799		$	169,309
Accretion	(15,538		)	(16,990		)	(46,981		)	(50,864		)
Net (decrease) increase in expected cash flows	—			—			(70,014		)	120,948
Balance, end of period	$	106,804		$	239,393		$	106,804		$	239,393

Changes in FDIC Loss-Share Receivable

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



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	(in thousands)
Balance, beginning of the period	$	20,687		$	40,686		$	32,757		$	44,996
Discount accretion of the present value at the acquisition dates	12			33			35			98
Effect of additional cash flows on covered loans (prospective recognition)	(4,500		)	(3,075		)	(8,460		)	(8,024		)
Decrease in the provision for losses on covered loans	—			—			(4,417		)	(2,783		)
Other reimbursable expenses	745			1,037			2,248			3,529
Reimbursements from the FDIC	(684		)	(3,003		)	(4,967		)	(2,138		)
Other	(80		)	—			(1,016		)	—
Balance, end of the period	$	16,180		$	35,678		$	16,180		$	35,678

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 September 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)
September 30, 2014
Commercial and industrial	$	476	$	629	$	256	$	7,251	$	8,612	$	1,932,858	$	1,941,470
Commercial real estate:
Commercial real estate	1,194		788		52		26,379		28,413		4,933,577		4,961,990
Construction	—		154		9,833		6,578		16,565		424,576		441,141
Total commercial real estate loans	1,194		942		9,885		32,957		44,978		5,358,153		5,403,131
Residential mortgage	8,871		2,304		2,057		17,305		30,537		2,392,507		2,423,044
Consumer loans:
Home equity	1,817		198		—		2,285		4,300		396,772		401,072
Automobile	1,800		524		246		95		2,665		1,088,622		1,091,287
Other consumer	124		191		32		—		347		275,338		275,685
Total consumer loans	3,741		913		278		2,380		7,312		1,760,732		1,768,044
Total	$	14,282	$	4,788	$	12,476	$	59,893	$	91,439	$	11,444,250	$	11,535,689
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 September 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)
September 30, 2014
Commercial and industrial	$	5,809	$	23,974	$	29,783	$	35,236	$	5,045
Commercial real estate:
Commercial real estate	44,591		39,210		83,801		86,565		5,347
Construction	7,933		8,362		16,295		17,465		786
Total commercial real estate loans	52,524		47,572		100,096		104,030		6,133
Residential mortgage	5,753		19,587		25,340		27,305		3,216
Consumer loans:
Home equity	263		2,763		3,026		3,127		446
Total consumer loans	263		2,763		3,026		3,127		446
Total	$	64,349	$	93,896	$	158,245	$	169,698	$	14,840
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 nine months ended September 30, 2014 and 2013:



	Three Months Ended September 30,
	2014				2013
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(in thousands)
Commercial and industrial	$	30,387	$	172	$	59,874	$	415
Commercial real estate:
Commercial real estate	83,045		604		109,226		612
Construction	16,954		147		22,457		23
Total commercial real estate loans	99,999		751		131,683		635
Residential mortgage	25,382		227		27,356		245
Consumer loans:
Home equity	3,039		18		1,158		29
Total consumer loans	3,039		18		1,158		29
Total	$	158,807	$	1,168	$	220,071	$	1,324



	Nine Months Ended September 30,
	2014				2013
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(in thousands)
Commercial and industrial	$	37,229	$	831	$	57,069	$	1,203
Commercial real estate:
Commercial real estate	91,184		2,173		112,216		2,229
Construction	18,541		445		20,528		162
Total commercial real estate loans	109,725		2,618		132,744		2,391
Residential mortgage	26,447		709		28,357		777
Consumer loans:
Home equity	1,855		47		1,182		55
Total consumer loans	1,855		47		1,182		55
Total	$	175,256	$	4,205	$	219,352	$	4,426

Pre-Modification and Post-Modification Outstanding Recorded Investments

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



	Three Months Ended September 30, 2014					Three Months Ended September 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	1	$	3,159	$	3,159	4	$	9,685	$	8,799
Commercial real estate:
Commercial real estate	4	6,111		2,865		—	—		—
Construction	1	403		500		2	6,402		7,836
Total commercial real estate	5	6,514		3,365		2	6,402		7,836
Residential mortgage	3	568		557		6	2,307		2,001
Consumer	2	1,803		1,803		1	48		48
Total	11	$	12,044	$	8,884	13	$	18,442	$	18,684



	Nine Months Ended September 30, 2014					Nine Months Ended September 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	9	$	11,340	$	10,361	11	$	20,140	$	17,455
Commercial real estate:
Commercial real estate	12	22,282		18,011		9	10,304		10,219
Construction	3	5,731		4,232		6	10,882		12,826
Total commercial real estate	15	28,013		22,243		15	21,186		23,045
Residential mortgage	7	2,893		2,640		28	6,887		5,997
Consumer	3	1,935		1,935		7	500		454
Total	34	$	44,181	$	37,179	61	$	48,713	$	46,951

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 nine months ended September 30, 2014:



	Nine Months Ended September 30, 2014
Troubled Debt Restructurings Subsequently Defaulted	Number of Contracts	Recorded Investment
	($ in thousands)
Commercial and industrial	1	$	1,669
Commercial real estate	1	4,630
Total	2	$	6,299

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 September 30, 2014 and December 31, 2013.



Credit exposure - by internally assigned risk rating	Pass		Special Mention		Substandard		Doubtful		Total
	(in thousands)
September 30, 2014
Commercial and industrial	$	1,840,602	$	52,850	$	48,018	$	—	$	1,941,470
Commercial real estate	4,803,172		48,623		110,195		—		4,961,990
Construction	416,948		3,323		15,723		5,147		441,141
Total	$	7,060,722	$	104,796	$	173,936	$	5,147	$	7,344,601
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 September 30, 2014 and December 31, 2013.



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total PCI Loans
	(in thousands)
September 30, 2014
Commercial and industrial	$	133,842	$	10,873	$	144,715
Commercial real estate	404,226		9,539		413,765
Construction	16,022		—		16,022
Residential mortgage	19,783		540		20,323
Consumer	34,470		393		34,863
Total	$	608,343	$	21,345	$	629,688
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 September 30, 2014 and December 31, 2013:



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total Non-PCI Loans
	(in thousands)
September 30, 2014
Residential mortgage	$	2,405,739	$	17,305	$	2,423,044
Home equity	398,787		2,285		401,072
Automobile	1,091,192		95		1,091,287
Other consumer	275,685		—		275,685
Total	$	4,171,403	$	19,685	$	4,191,088
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