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Loans (Tables)
 12 Months Ended
Dec. 31, 2018
Receivables [Abstract]  
Schedule of Loan Portfolio
The detail of the loan portfolio as of December 31, 2018 and 2017 was as follows: 
 
December 31, 2018
 
December 31, 2017
 
Non-PCI
Loans
 
PCI
Loans*
 
Total
 
Non-PCI
Loans
 
PCI
Loans*
 
Total
 
(in thousands)
Loans:
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
3,590,375

 
$
740,657

 
$
4,331,032

 
$
2,549,065

 
$
192,360

 
$
2,741,425

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
9,912,309

 
2,494,966

 
12,407,275

 
8,561,851

 
934,926

 
9,496,777

Construction
1,122,348

 
365,784

 
1,488,132

 
809,964

 
41,141

 
851,105

Total commercial real estate loans
11,034,657

 
2,860,750

 
13,895,407

 
9,371,815

 
976,067

 
10,347,882

Residential mortgage
3,682,984

 
428,416

 
4,111,400

 
2,717,744

 
141,291

 
2,859,035

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity
371,340

 
145,749

 
517,089

 
373,631

 
72,649

 
446,280

Automobile
1,319,206

 
365

 
1,319,571

 
1,208,804

 
98

 
1,208,902

Other consumer
846,821

 
14,149

 
860,970

 
723,306

 
4,750

 
728,056

Total consumer loans
2,537,367

 
160,263

 
2,697,630

 
2,305,741

 
77,497

 
2,383,238

Total loans
$
20,845,383

 
$
4,190,086

 
$
25,035,469

 
$
16,944,365

 
$
1,387,215

 
$
18,331,580


 
*
PCI loans include covered loans (mostly consisting of residential mortgage loans) totaling $27.6 million and $38.7 million at December 31, 2018 and 2017, respectively.
Estimates of the Contractually Required Payments, the Cash Flows Expected to be Collected, and the Estimated Fair Value of Covered Loans in the Acquisition
The following table presents information regarding the estimates of the contractually required payments, the cash flows expected to be collected, and the estimated fair value of the PCI loans acquired in the USAB acquisition as of January 1, 2018 (See Note 2 for more details):
 
 
January 1, 2018
 
 
(in thousands)
Contractually required principal and interest
 
$
4,398,687

Contractual cash flows not expected to be collected (non-accretable difference)
 
(101,796
)
Expected cash flows to be collected
 
4,296,891

Interest component of expected cash flows (accretable yield)
 
(559,907
)
Fair value of acquired loans
 
$
3,736,984
Changes in Accretable Yield for PCI Loans
The following table presents changes in the accretable yield for PCI loans for the years ended December 31, 2018 and 2017:
 
2018
 
2017
 
(in thousands)
Balance, beginning of period
$
282,009

 
$
294,514

Acquisition
559,907

 
—

Accretion
(235,741
)
 
(89,770
)
Net increase in expected cash flows
269,783

 
77,265

Balance, end of period
$
875,958

 
$
282,009
Changes in Amounts of Loans and Advances to the Related Parties
The following table summarizes the changes in the total amounts of loans and advances to the related parties during the year ended December 31, 2018: 
 
2018
 
(in thousands)
Outstanding at beginning of year
$
151,265

New loans and advances
86,837

Repayments
(23,994
)
Outstanding at end of year
$
214,108
Past Due, Non-Accrual and Current Loans by Loan Portfolio Class
The following tables present past due, non-accrual and current loans (excluding PCI loans, which are accounted for on a pool basis) by loan portfolio class at December 31, 2018 and 2017:
 
 
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)
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
13,085

 
$
3,768

 
$
6,156

 
$
70,096

 
$
93,105

 
$
3,497,270

 
$
3,590,375

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
9,521

 
530

 
27

 
2,372

 
12,450

 
9,899,859

 
9,912,309

Construction
2,829

 
—

 
—

 
356

 
3,185

 
1,119,163

 
1,122,348

Total commercial real estate loans
12,350

 
530

 
27

 
2,728

 
15,635

 
11,019,022

 
11,034,657

Residential mortgage
16,576

 
2,458

 
1,288

 
12,917

 
33,239

 
3,649,745

 
3,682,984

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Home equity
872

 
40

 
—

 
2,156

 
3,068

 
368,272

 
371,340

Automobile
7,973

 
1,299

 
308

 
80

 
9,660

 
1,309,546

 
1,319,206

Other consumer
895

 
47

 
33

 
419

 
1,394

 
845,427

 
846,821

Total consumer loans
9,740

 
1,386

 
341

 
2,655

 
14,122

 
2,523,245

 
2,537,367

Total
$
51,751

 
$
8,142

 
$
7,812

 
$
88,396

 
$
156,101

 
$
20,689,282

 
$
20,845,383

 
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)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
3,650

 
$
544

 
$
—

 
$
20,890

 
$
25,084

 
$
2,523,981

 
$
2,549,065

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
11,223

 
—

 
27

 
11,328

 
22,578

 
8,539,273

 
8,561,851

Construction
12,949

 
18,845

 
—

 
732

 
32,526

 
777,438

 
809,964

Total commercial real estate loans
24,172

 
18,845

 
27

 
12,060

 
55,104

 
9,316,711

 
9,371,815

Residential mortgage
12,669

 
7,903

 
2,779

 
12,405

 
35,756

 
2,681,988

 
2,717,744

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Home equity
1,009

 
94

 
—

 
1,777

 
2,880

 
370,751

 
373,631

Automobile
5,707

 
987

 
271

 
73

 
7,038

 
1,201,766

 
1,208,804

Other consumer
1,693

 
118

 
13

 
20

 
1,844

 
721,462

 
723,306

Total consumer loans
8,409

 
1,199

 
284

 
1,870

 
11,762

 
2,293,979

 
2,305,741

Total
$
48,900

 
$
28,491

 
$
3,090

 
$
47,225

 
$
127,706

 
$
16,816,659

 
$
16,944,365
Impaired Loans by Loan Portfolio Class
The following table presents information about impaired loans by loan portfolio class at December 31, 2018 and 2017:
 
Recorded
Investment
With No
Related
Allowance
 
Recorded
Investment
With
Related
Allowance
 
Total
Recorded
Investment
 
Unpaid
Contractual
Principal
Balance
 
Related
Allowance
 
(in thousands)
December 31, 2018
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
8,339

 
$
89,513

 
$
97,852

 
$
104,007

 
$
29,684

Commercial real estate:
 
 
 
 
 
 
 
 
 
Commercial real estate
16,732

 
25,606

 
42,338

 
44,337

 
2,615

Construction
803

 
457

 
1,260

 
1,260

 
13

Total commercial real estate loans
17,535

 
26,063

 
43,598

 
45,597

 
2,628

Residential mortgage
7,826

 
6,078

 
13,904

 
14,948

 
600

Consumer loans:
 
 
 
 
 
 
 
 
 
Home equity
125

 
1,146

 
1,271

 
1,366

 
113

Total consumer loans
125

 
1,146

 
1,271

 
1,366

 
113

Total
$
33,825

 
$
122,800

 
$
156,625

 
$
165,918

 
$
33,025

December 31, 2017
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
9,946

 
$
75,553

 
$
85,499

 
$
90,269

 
$
11,044

Commercial real estate:
 
 
 
 
 
 
 
 
 
Commercial real estate
28,709

 
29,771

 
58,480

 
62,286

 
2,718

Construction
1,904

 
467

 
2,371

 
2,394

 
17

Total commercial real estate loans
30,613

 
30,238

 
60,851

 
64,680

 
2,735

Residential mortgage
5,654

 
8,402

 
14,056

 
15,332

 
718

Consumer loans:
 
 
 
 
 
 
 
 
 
Home equity
3,096

 
664

 
3,760

 
4,917

 
64

Total consumer loans
3,096

 
664

 
3,760

 
4,917

 
64

Total
$
49,309

 
$
114,857

 
$
164,166

 
$
175,198

 
$
14,561
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 years ended December 31, 2018, 2017 and 2016:
 
2018
 
2017
 
2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
(in thousands)
Commercial and industrial
$
108,071

 
$
1,822

 
$
80,974

 
$
1,459

 
$
36,552

 
$
1,045

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
44,838

 
2,289

 
54,799

 
1,908

 
59,633

 
2,122

Construction
1,517

 
69

 
3,258

 
86

 
5,790

 
182

Total commercial real estate loans
46,355

 
2,358

 
58,057

 
1,994

 
65,423

 
2,304

Residential mortgage
15,384

 
506

 
15,451

 
760

 
21,340

 
874

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Home equity
865

 
21

 
4,295

 
160

 
2,626

 
68

Total consumer loans
865

 
21

 
4,295

 
160

 
2,626

 
68

Total
$
170,675

 
$
4,707

 
$
158,777

 
$
4,373

 
$
125,941

 
$
4,291
Non-PCI Loans by Loan Class Modified as TDRs
The following table presents non-PCI loans by loan class modified as TDRs during the years ended December 31, 2018 and 2017. 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 December 31, 2018 and 2017, respectively.
Troubled Debt
Restructurings
 
Number of
 Contracts
 
Pre-Modification
Outstanding
Recorded Investment
 
Post-Modification
Outstanding
Recorded Investment
 
 
 
 
($ in thousands)
December 31, 2018
 
 
 
 
 
 
Commercial and industrial
 
25

 
$
16,251

 
$
15,105

Commercial real estate:
 
 
 
 
 
 
Commercial real estate
 
8

 
5,643

 
6,600

Construction
 
1

 
532

 
356

Total commercial real estate
 
9

 
6,175

 
6,956

Residential mortgage
 
8

 
1,500

 
1,461

Consumer
 
2

 
99

 
101

Total
 
44

 
$
24,025

 
$
23,623

December 31, 2017
 
 
 
 
 
 
Commercial and industrial
 
90

 
$
75,894

 
$
69,020

Commercial real estate:
 
 
 
 
 
 
Commercial real estate
 
6

 
23,781

 
23,548

Construction
 
3

 
1,188

 
932

Total commercial real estate
 
9

 
24,969

 
24,480

Residential mortgage
 
7

 
1,769

 
1,727

Total
 
106

 
$
102,632

 
$
95,227

The non-PCI loans modified as TDRs within the previous 12 months and for which there was a payment default (90 or more days past due) for the years ended December 31, 2018 and 2017 were as follows:
 
Years Ended December 31,
 
2018
 
2017
Troubled Debt Restructurings Subsequently Defaulted
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
 
($ in thousands)
Commercial and industrial
10

 
$
8,829

 
7

 
$
5,841

Commercial real estate
—

 
—

 
1

 
165

Residential mortgage
3

 
490

 
5

 
1,125

Total
13

 
$
9,319

 
13

 
$
7,131
Risk Category of Loans by Class of Loans
The following table presents the credit exposure by internally assigned risk rating by class of loans (excluding PCI loans) based on the most recent analysis performed at December 31, 2018 and 2017. 
Credit exposure—
by internally assigned risk rating
 
 
 
Special
 
 
 
 
 
Total Non-PCI
 
Pass
 
Mention
 
Substandard
 
Doubtful
 
Loans
 
 
(in thousands)
December 31, 2018
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
3,399,426

 
$
31,996

 
$
92,320

 
$
66,633

 
$
3,590,375

Commercial real estate
 
9,828,744

 
30,892

 
51,710

 
963

 
9,912,309

Construction
 
1,121,321

 
215

 
812

 
—

 
1,122,348

Total
 
$
14,349,491

 
$
63,103

 
$
144,842

 
$
67,596

 
$
14,625,032

December 31, 2017
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
2,375,689

 
$
62,071

 
$
96,555

 
$
14,750

 
$
2,549,065

Commercial real estate
 
8,447,865

 
48,009

 
65,977

 
—

 
8,561,851

Construction
 
808,091

 
360

 
1,513

 
—

 
809,964

Total
 
$
11,631,645

 
$
110,440

 
$
164,045

 
$
14,750

 
$
11,920,880
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 December 31, 2018 and 2017:
Credit exposure—
by payment activity
 
Performing
Loans
 
Non-Performing
Loans
 
Total Non-PCI
Loans
 
 
(in thousands)
December 31, 2018
 
 
 
 
 
 
Residential mortgage
 
$
3,670,067

 
$
12,917

 
$
3,682,984

Home equity
 
369,184

 
2,156

 
371,340

Automobile
 
1,319,126

 
80

 
1,319,206

Other consumer
 
846,402

 
419

 
846,821

Total
 
$
6,204,779

 
$
15,572

 
$
6,220,351

December 31, 2017
 
 
 
 
 
 
Residential mortgage
 
$
2,705,339

 
$
12,405

 
$
2,717,744

Home equity
 
371,854

 
1,777

 
373,631

Automobile
 
1,208,731

 
73

 
1,208,804

Other consumer
 
723,286

 
20

 
723,306

Total
 
$
5,009,210

 
$
14,275

 
$
5,023,485

The following table presents the recorded investment in PCI loans by class based on individual loan payment activity as of December 31, 2018 and 2017: 
Credit exposure—
 
Performing
 
Non-Performing
 
Total
by payment activity
 
Loans
 
Loans
 
PCI Loans
 
 
(in thousands)
December 31, 2018
 
 
 
 
 
 
Commercial and industrial
 
$
710,045

 
$
30,612

 
$
740,657

Commercial real estate
 
2,478,990

 
15,976

 
2,494,966

Construction
 
364,815

 
969

 
365,784

Residential mortgage
 
421,609

 
6,807

 
428,416

Consumer
 
158,502

 
1,761

 
160,263

Total
 
$
4,133,961

 
$
56,125

 
$
4,190,086

December 31, 2017
 
 
 
 
 
 
Commercial and industrial
 
$
172,105

 
$
20,255

 
$
192,360

Commercial real estate
 
924,574

 
10,352

 
934,926

Construction
 
39,802

 
1,339

 
41,141

Residential mortgage
 
135,745

 
5,546

 
141,291

Consumer
 
76,901

 
596

 
77,497

Total
 
$
1,349,127

 
$
38,088

 
$
1,387,215