Loans (Tables)

3 Months Ended

Mar. 31, 2015

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

The detail of the loan portfolio as of March 31, 2015 and December 31, 2014 was as follows:



	March 31, 2015						December 31, 2014
	Non-PCI Loans		PCI Loans		Total		Non-PCI Loans		PCI Loans		Total
	(in thousands)
Non-covered loans:
Commercial and industrial	$	2,094,274	$	267,713	$	2,361,987	$	1,959,927	$	277,371	$	2,237,298
Commercial real estate:
Commercial real estate	5,142,588		954,429		6,097,017		5,053,742		978,448		6,032,190
Construction	483,683		55,254		538,937		476,094		53,869		529,963
Total commercial real estate loans	5,626,271		1,009,683		6,635,954		5,529,836		1,032,317		6,562,153
Residential mortgage	2,495,827		89,955		2,585,782		2,419,044		96,631		2,515,675
Consumer:
Home equity	394,886		87,379		482,265		400,136		91,609		491,745
Automobile	1,162,919		44		1,162,963		1,144,780		51		1,144,831
Other consumer	311,102		10,682		321,784		298,389		11,931		310,320
Total consumer loans	1,868,907		98,105		1,967,012		1,843,305		103,591		1,946,896
Total non-covered loans	12,085,279		1,465,456		13,550,735		11,752,112		1,509,910		13,262,022
Covered loans:
Commercial and industrial	—		5,940		5,940		—		13,813		13,813
Commercial real estate	—		108,856		108,856		—		128,691		128,691
Construction	—		3,077		3,077		—		3,171		3,171
Residential mortgage	—		62,229		62,229		—		60,697		60,697
Consumer	—		3,624		3,624		—		5,519		5,519
Total covered loans	—		183,726		183,726		—		211,891		211,891
Total loans	$	12,085,279	$	1,649,182	$	13,734,461	$	11,752,112	$	1,721,801	$	13,473,913

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, 2015 and 2014:



	Three Months Ended March 31,
	2015			2014
	(in thousands)
Balance, beginning of period	$	336,208		$	223,799
Accretion	(26,350		)	(13,934		)
Balance, end of period	$	309,858		$	209,865

Changes in FDIC Loss-Share Receivable

Changes in the FDIC loss-share receivable for the three months ended March 31, 2015 and 2014 were as follows:



	Three Months Ended March 31,
	2015			2014
	(in thousands)
Balance, beginning of the period	$	13,848		$	32,757
Discount accretion of the present value at the acquisition dates	43			11
Effect of additional cash flows on covered loans (prospective recognition)	(4,072		)	(1,856		)
Other reimbursable expenses	98			513
Reimbursements from the FDIC	(1,954		)	(1,424		)
Other	(355		)	1,256
Balance, end of the period	$	7,608		$	31,257

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, 2015 and December 31, 2014:



	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, 2015
Commercial and industrial	$	4,472	$	90	$	208	$	8,285	$	13,055	$	2,081,219	$	2,094,274
Commercial real estate:
Commercial real estate	4,775		1,883		2,792		24,850		34,300		5,108,288		5,142,588
Construction	6,577		—		—		5,144		11,721		471,962		483,683
Total commercial real estate loans	11,352		1,883		2,792		29,994		46,021		5,580,250		5,626,271
Residential mortgage	12,498		1,782		564		17,127		31,971		2,463,856		2,495,827
Consumer loans:
Home equity	1,170		380		—		2,042		3,592		391,294		394,886
Automobile	1,594		415		251		—		2,260		1,160,659		1,162,919
Other consumer	111		42		11		96		260		310,842		311,102
Total consumer loans	2,875		837		262		2,138		6,112		1,862,795		1,868,907
Total	$	31,197	$	4,592	$	3,826	$	57,544	$	97,159	$	11,988,120	$	12,085,279
December 31, 2014
Commercial and industrial	$	1,630	$	1,102	$	226	$	8,467	$	11,425	$	1,948,502	$	1,959,927
Commercial real estate:
Commercial real estate	8,938		113		49		22,098		31,198		5,022,544		5,053,742
Construction	448		—		3,988		5,223		9,659		466,435		476,094
Total commercial real estate loans	9,386		113		4,037		27,321		40,857		5,488,979		5,529,836
Residential mortgage	6,200		3,575		1,063		17,760		28,598		2,390,446		2,419,044
Consumer loans:
Home equity	761		282		—		2,022		3,065		397,071		400,136
Automobile	1,902		391		126		90		2,509		1,142,271		1,144,780
Other consumer	319		91		26		97		533		297,856		298,389
Total consumer loans	2,982		764		152		2,209		6,107		1,837,198		1,843,305
Total	$	20,198	$	5,554	$	5,478	$	55,757	$	86,987	$	11,665,125	$	11,752,112

Impaired Loans

The following table presents the information about impaired loans by loan portfolio class at March 31, 2015 and December 31, 2014:



	Recorded Investment With No Related Allowance		Recorded Investment With Related Allowance		Total Recorded Investment		Unpaid Contractual Principal Balance		Related Allowance
	(in thousands)
March 31, 2015
Commercial and industrial	$	6,214	$	21,665	$	27,879	$	33,471	$	4,824
Commercial real estate:
Commercial real estate	32,856		47,703		80,559		83,068		4,918
Construction	13,197		2,962		16,159		20,825		1,008
Total commercial real estate loans	46,053		50,665		96,718		103,893		5,926
Residential mortgage	6,840		15,254		22,094		23,898		1,432
Consumer loans:
Home equity	324		4,197		4,521		4,622		764
Total consumer loans	324		4,197		4,521		4,622		764
Total	$	59,431	$	91,781	$	151,212	$	165,884	$	12,946
December 31, 2014
Commercial and industrial	$	6,579	$	21,645	$	28,224	$	33,677	$	4,929
Commercial real estate:
Commercial real estate	29,784		44,713		74,497		77,007		5,342
Construction	14,502		2,299		16,801		20,694		160
Total commercial real estate loans	44,286		47,012		91,298		97,701		5,502
Residential mortgage	6,509		15,831		22,340		24,311		1,629
Consumer loans:
Home equity	235		2,911		3,146		3,247		465
Total consumer loans	235		2,911		3,146		3,247		465
Total	$	57,609	$	87,399	$	145,008	$	158,936	$	12,525

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, 2015 and 2014:



	Three Months Ended March 31,
	2015				2014
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(in thousands)
Commercial and industrial	$	28,282	$	246	$	46,784	$	369
Commercial real estate:
Commercial real estate	78,523		486		97,542		645
Construction	16,670		150		19,638		144
Total commercial real estate loans	95,193		636		117,180		789
Residential mortgage	21,843		250		27,509		260
Consumer loans:
Home equity	3,485		30		1,076		13
Total consumer loans	3,485		30		1,076		13
Total	$	148,803	$	1,162	$	192,549	$	1,431

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, 2015 and 2014. 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, 2015 and 2014, respectively.



	Three Months Ended March 31, 2015					Three Months Ended March 31, 2014
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	6	$	1,584	$	1,534	11	$	9,762	$	9,093
Commercial real estate:
Commercial real estate	1	5,000		5,000		5	15,946		15,060
Construction	—	—		—		1	4,827		4,827
Total commercial real estate	1	5,000		5,000		6	20,773		19,887
Residential mortgage	1	280		278		—	—		—
Total	8	$	6,864	$	6,812	17	$	30,535	$	28,980

Non-Covered Loans Modified as TDR

There were no 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, 2015

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, 2015 and December 31, 2014.



Credit exposure - by internally assigned risk rating	Pass		Special Mention		Substandard		Doubtful		Total Non-PCI Loans
	(in thousands)
March 31, 2015
Commercial and industrial	$	1,970,835	$	67,846	$	52,448	$	3,145	$	2,094,274
Commercial real estate	4,986,138		42,198		114,252		—		5,142,588
Construction	464,080		1,633		15,499		2,471		483,683
Total	$	7,421,053	$	111,677	$	182,199	$	5,616	$	7,720,545
December 31, 2014
Commercial and industrial	$	1,865,472	$	50,453	$	44,002	$	—	$	1,959,927
Commercial real estate	4,903,185		40,232		110,325		—		5,053,742
Construction	455,145		1,923		16,482		2,544		476,094
Total	$	7,223,802	$	92,608	$	170,809	$	2,544	$	7,489,763

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, 2015 and December 31, 2014.



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total PCI Loans
	(in thousands)
March 31, 2015
Commercial and industrial	$	253,446	$	20,207	$	273,653
Commercial real estate	1,054,600		8,685		1,063,285
Construction	57,204		1,127		58,331
Residential mortgage	148,972		3,212		152,184
Consumer	90,040		11,689		101,729
Total	$	1,604,262	$	44,920	$	1,649,182
December 31, 2014
Commercial and industrial	$	272,027	$	19,157	$	291,184
Commercial real estate	1,091,784		15,355		1,107,139
Construction	52,802		4,238		57,040
Residential mortgage	153,789		3,539		157,328
Consumer	103,686		5,424		109,110
Total	$	1,674,088	$	47,713	$	1,721,801

Other real estate owned totaled $21.8 million at March 31, 2015 and included foreclosed residential real estate properties totaling $6.7 million. Residential mortgage and consumer loans secured by residential real estate properties for which formal foreclosure proceedings are in process totaled $14.4 million at March 31, 2015.

The following table presents the recorded investment in those loan classes based on payment activity as of March 31, 2015 and December 31, 2014:



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total Non-PCI Loans
	(in thousands)
March 31, 2015
Residential mortgage	$	2,478,700	$	17,127	$	2,495,827
Home equity	392,844		2,042		394,886
Automobile	1,162,919		—		1,162,919
Other consumer	311,006		96		311,102
Total	$	4,345,469	$	19,265	$	4,364,734
December 31, 2014
Residential mortgage	$	2,401,284	$	17,760	$	2,419,044
Home equity	398,114		2,022		400,136
Automobile	1,144,690		90		1,144,780
Other consumer	298,292		97		298,389
Total	$	4,242,380	$	19,969	$	4,262,349