Loans (Tables)

3 Months Ended

Mar. 31, 2016

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

The detail of the loan portfolio as of March 31, 2016 and December 31, 2015 was as follows:



	March 31, 2016						December 31, 2015
	Non-PCI Loans		PCI Loans*		Total		Non-PCI Loans		PCI Loans*		Total
	(in thousands)
Loans:
Commercial and industrial	$	2,176,942	$	360,603	$	2,537,545	$	2,156,549	$	383,942	$	2,540,491
Commercial real estate:
Commercial real estate	6,304,974		1,280,165		7,585,139		6,069,532		1,355,104		7,424,636
Construction	633,559		142,498		776,057		607,694		147,253		754,947
Total commercial real estate loans	6,938,533		1,422,663		8,361,196		6,677,226		1,502,357		8,179,583
Residential mortgage	2,892,643		209,171		3,101,814		2,912,079		218,462		3,130,541
Consumer:
Home equity	380,459		111,096		491,555		391,809		119,394		511,203
Automobile	1,187,742		321		1,188,063		1,238,826		487		1,239,313
Other consumer	444,247		11,567		455,814		426,147		15,829		441,976
Total consumer loans	2,012,448		122,984		2,135,432		2,056,782		135,710		2,192,492
Total loans	$	14,020,566	$	2,115,421	$	16,135,987	$	13,802,636	$	2,240,471	$	16,043,107

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*	PCI loans include covered loans (mostly consisting of residential mortgage and commercial real estate loans) totaling $86.8 million and $122.3 million at March 31, 2016 and December 31, 2015, respectively.

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, 2016 and 2015:



	Three Months Ended March 31,
	2016			2015
	(in thousands)
Balance, beginning of period	$	415,179		$	336,208
Accretion	(28,059		)	(26,350		)
Balance, end of period	$	387,120		$	309,858

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, 2016 and December 31, 2015:



	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, 2016
Commercial and industrial	$	8,395	$	613	$	221	$	11,484	$	20,713	$	2,156,229	$	2,176,942
Commercial real estate:
Commercial real estate	1,389		120		131		26,604		28,244		6,276,730		6,304,974
Construction	1,326		—		—		5,978		7,304		626,255		633,559
Total commercial real estate loans	2,715		120		131		32,582		35,548		6,902,985		6,938,533
Residential mortgage	14,628		3,056		2,613		16,747		37,044		2,855,599		2,892,643
Consumer loans:
Home equity	1,262		300		—		1,685		3,247		377,212		380,459
Automobile	1,336		374		65		122		1,897		1,185,845		1,187,742
Other consumer	602		57		1		—		660		443,587		444,247
Total consumer loans	3,200		731		66		1,807		5,804		2,006,644		2,012,448
Total	$	28,938	$	4,520	$	3,031	$	62,620	$	99,109	$	13,921,457	$	14,020,566
December 31, 2015
Commercial and industrial	$	3,920	$	524	$	213	$	10,913	$	15,570	$	2,140,979	$	2,156,549
Commercial real estate:
Commercial real estate	2,684		—		131		24,888		27,703		6,041,829		6,069,532
Construction	1,876		2,799		—		6,163		10,838		596,856		607,694
Total commercial real estate loans	4,560		2,799		131		31,051		38,541		6,638,685		6,677,226
Residential mortgage	6,681		1,626		1,504		17,930		27,741		2,884,338		2,912,079
Consumer loans:
Home equity	1,308		111		—		2,088		3,507		388,302		391,809
Automobile	1,969		491		164		118		2,742		1,236,084		1,238,826
Other consumer	71		24		44		—		139		426,008		426,147
Total consumer loans	3,348		626		208		2,206		6,388		2,050,394		2,056,782
Total	$	18,509	$	5,575	$	2,056	$	62,100	$	88,240	$	13,714,396	$	13,802,636

Impaired Loans

The following table presents the information about impaired loans by loan portfolio class at March 31, 2016 and December 31, 2015:



	Recorded Investment With No Related Allowance		Recorded Investment With Related Allowance		Total Recorded Investment		Unpaid Contractual Principal Balance		Related Allowance
	(in thousands)
March 31, 2016
Commercial and industrial	$	7,758	$	19,838	$	27,596	$	33,913	$	3,578
Commercial real estate:
Commercial real estate	32,587		42,816		75,403		79,295		4,088
Construction	8,685		1,257		9,942		9,952		37
Total commercial real estate loans	41,272		44,073		85,345		89,247		4,125
Residential mortgage	7,356		14,624		21,980		23,907		1,267
Consumer loans:
Home equity	204		2,454		2,658		2,750		407
Total consumer loans	204		2,454		2,658		2,750		407
Total	$	56,590	$	80,989	$	137,579	$	149,817	$	9,377
December 31, 2015
Commercial and industrial	$	7,863	$	17,851	$	25,714	$	33,071	$	3,439
Commercial real estate:
Commercial real estate	30,113		37,440		67,553		71,263		3,354
Construction	8,847		5,530		14,377		14,387		317
Total commercial real estate loans	38,960		42,970		81,930		85,650		3,671
Residential mortgage	7,842		14,770		22,612		24,528		1,377
Consumer loans:
Home equity	263		1,869		2,132		2,224		295
Total consumer loans	263		1,869		2,132		2,224		295
Total	$	54,928	$	77,460	$	132,388	$	145,473	$	8,782

Average Recorded Investment and Interest Income Recognized on Impaired Loans

The following table present by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2016 and 2015:



	Three Months Ended March 31,
	2016				2015
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(in thousands)
Commercial and industrial	$	28,331	$	240	$	28,282	$	246
Commercial real estate:
Commercial real estate	72,398		639		78,523		486
Construction	9,802		48		16,670		150
Total commercial real estate loans	82,200		687		95,193		636
Residential mortgage	23,603		202		21,843		250
Consumer loans:
Home equity	2,359		23		3,485		30
Total consumer loans	2,359		23		3,485		30
Total	$	136,493	$	1,152	$	148,803	$	1,162

Pre-Modification and Post-Modification Outstanding Recorded Investments and Non-PCI Loans That Subsequently Defaulted

The following tables present loans by loan portfolio class modified as TDRs during the three months ended March 31, 2016 and 2015. 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, 2016 and 2015, respectively.



	Three Months Ended March 31, 2016					Three Months Ended March 31, 2015
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	4	$	4,961	$	4,887	6	$	1,584	$	1,534
Commercial real estate	2	658		404		1	5,000		5,000
Residential mortgage	2	392		381		1	280		278
Consumer	1	54		53		—	—		—
Total	9	$	6,065	$	5,725	8	$	6,864	$	6,812

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, 2016.



	Three Months Ended March 31, 2016
Troubled Debt Restructurings Subsequently Defaulted	Number of Contracts	Recorded Investment
	($ in thousands)
Commercial and industrial	2	$	372
Commercial real estate	1	81
Residential mortgage	2	267
Consumer	1	30
Total	6	$	750

Risk Category of Loans

The following table presents the risk category of loans (excluding PCI loans) by class of loans at March 31, 2016 and December 31, 2015.



Credit exposure - by internally assigned risk rating	Pass		Special Mention		Substandard		Doubtful		Total Non-PCI Loans
	(in thousands)
March 31, 2016
Commercial and industrial	$	2,075,347	$	57,283	$	44,312	$	—	$	2,176,942
Commercial real estate	6,136,061		71,897		97,016		—		6,304,974
Construction	622,460		857		10,242		—		633,559
Total	$	8,833,868	$	130,037	$	151,570	$	—	$	9,115,475
December 31, 2015
Commercial and industrial	$	2,049,752	$	68,243	$	36,254	$	2,300	$	2,156,549
Commercial real estate	5,893,354		79,279		96,899		—		6,069,532
Construction	596,530		1,102		10,062		—		607,694
Total	$	8,539,636	$	148,624	$	143,215	$	2,300	$	8,833,775

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, 2016 and December 31, 2015.



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total PCI Loans
	(in thousands)
March 31, 2016
Commercial and industrial	$	351,442	$	9,161	$	360,603
Commercial real estate	1,266,695		13,470		1,280,165
Construction	141,319		1,179		142,498
Residential mortgage	205,928		3,243		209,171
Consumer	117,050		5,934		122,984
Total	$	2,082,434	$	32,987	$	2,115,421
December 31, 2015
Commercial and industrial	$	373,665	$	10,277	$	383,942
Commercial real estate	1,342,030		13,074		1,355,104
Construction	141,547		5,706		147,253
Residential mortgage	214,713		3,749		218,462
Consumer	129,891		5,819		135,710
Total	$	2,201,846	$	38,625	$	2,240,471

The following table presents the recorded investment in those loan classes based on payment activity as of March 31, 2016 and December 31, 2015:



Credit exposure - by payment activity	Performing Loans		Non-Performing Loans		Total Non-PCI Loans
	(in thousands)
March 31, 2016
Residential mortgage	$	2,875,896	$	16,747	$	2,892,643
Home equity	378,774		1,685		380,459
Automobile	1,187,620		122		1,187,742
Other consumer	444,247		—		444,247
Total	$	4,886,537	$	18,554	$	4,905,091
December 31, 2015
Residential mortgage	$	2,894,149	$	17,930	$	2,912,079
Home equity	389,721		2,088		391,809
Automobile	1,238,708		118		1,238,826
Other consumer	426,147		—		426,147
Total	$	4,948,725	$	20,136	$	4,968,861