Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2012

Summary of Allowance for Credit Losses

The following table summarizes the allowance for credit losses at September 30, 2012 and December 31, 2011:

	September 30, 2012		December 31, 2011
	(in thousands)
Components of allowance for credit losses:
Allowance for non-covered loans	$	119,755	$	120,274
Allowance for covered loans		9,492		13,528
Total allowance for loan losses		129,247		133,802
Allowance for unfunded letters of credit		2,350		2,383
Total allowance for credit losses	$	131,597	$	136,185

Summary of Provision for Credit Losses

The following table summarizes the provision for credit losses for the periods indicated:

	Three Months Ended September 30,					Nine Monnths Ended September 30,
	2012			2011		2012			2011
	(in thousands)
Components of provision for credit losses:
Provision for non-covered loans	$	7,582		$	7,711	$	20,385		$	19,338
Provision for covered loans		-			-		-			18,094
Total provision for loan losses		7,582			7,711		20,385			37,432
Provision for unfunded letters of credit		(332	)		72		(33	)		539
Total provision for credit losses	$	7,250		$	7,783	$	20,352		$	37,971

Summary of Activity in the Allowance for Loan Losses

The following table details the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2012 and 2011, including both covered and non-covered loans:

	Commercial and  Industrial			Commercial Real Estate			Residential Mortgage			Consumer			Unallocated			Total
	(in thousands)
Three Months Ended September 30, 2012:
Allowance for loan losses:
Beginning balance	$	70,522		$	35,558		$	10,740		$	5,809		$	7,225		$	129,854
Loans charged-off *		(3,649	)		(3,736	)		(870	)		(1,111	)		-			(9,366	)
Charged-off loans recovered		601			16			13			547			-			1,177
Net charge-offs		(3,048	)		(3,720	)		(857	)		(564	)		-			(8,189	)
Provision for loan losses		(1,955	)		9,432			(27	)		418			(286	)		7,582
Ending balance	$	65,519		$	41,270		$	9,856		$	5,663		$	6,939		$	129,247
Three Months Ended September 30, 2011:
Allowance for loan losses:
Beginning balance	$	75,686		$	32,735		$	11,036		$	11,075		$	8,094		$	138,626
Loans charged-off *		(9,297	)		(1,239	)		(269	)		(1,251	)		-			(12,056	)
Charged-off loans recovered		559			2			16			504			-			1,081
Net charge-offs		(8,738	)		(1,237	)		(253	)		(747	)		-			(10,975	)
Provision for loan losses		5,333			3,756			(502	)		(237	)		(639	)		7,711
Ending balance	$	72,281		$	35,254		$	10,281		$	10,091		$	7,455		$	135,362

* The allowance for covered loans was reduced by loan charge-offs totaling $2.3 million and $6.1 million during the third quarters of 2012 and 2011, respectively.

The following table details the activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2012 and 2011, including both covered and non-covered loans:

	Commercial and Industrial			Commercial Real Estate			Residential Mortgage			Consumer			Unallocated			Total
	(in thousands)
Nine Months Ended September 30, 2012:
Allowance for loan losses:
Beginning balance	$	73,649		$	34,637		$	9,120		$	8,677		$	7,719		$	133,802
Loans charged-off *		(13,862	)		(10,195	)		(2,629	)		(3,609	)		-			(30,295	)
Charged-off loans recovered		2,910			252			638			1,555			-			5,355
Net charge-offs		(10,952	)		(9,943	)		(1,991	)		(2,054	)		-			(24,940	)
Provision for loan losses		2,822			16,576			2,727			(960	)		(780	)		20,385
Ending balance	$	65,519		$	41,270		$	9,856		$	5,663		$	6,939		$	129,247
Nine Months Ended September 30, 2011:
Allowance for loan losses:
Beginning balance	$	61,967		$	30,409		$	9,476		$	14,499		$	8,353		$	124,704
Loans charged-off *		(19,025	)		(5,693	)		(1,495	)		(4,364	)		-			(30,577	)
Charged-off loans recovered		1,748			225			106			1,724			-			3,803
Net charge-offs		(17,277	)		(5,468	)		(1,389	)		(2,640	)		-			(26,774	)
Provision for loan losses		27,591			10,313			2,194			(1,768	)		(898	)		37,432
Ending balance	$	72,281		$	35,254		$	10,281		$	10,091		$	7,455		$	135,362

* The allowance for covered loans was reduced by loan charge-offs totaling $3.9 million and $11.8 million during the nine months ended September 30, 2012 and 2011, respectively.

Summary of Allocation of Allowance for Loan Losses and Related Loans by Loan Portfolio Segment Disaggregated Based on Impairment Methodology

The following table represents the allocation of the allowance for loan losses and the related loans by loan portfolio segment disaggregated based on the impairment methodology at September 30, 2012 and December 31, 2011, including both covered and non-covered loans:

	Commercial and  Industrial		Commercial Real Estate		Residential Mortgage		Consumer		Unallocated		Total
	(in thousands)
September 30, 2012
Allowance for loan losses:
Individually evaluated for impairment	$	9,051	$	11,775	$	3,090	$	15	$	-	$	23,931
Collectively evaluated for impairment		49,063		27,470		6,704		5,648		6,939		95,824
Loans acquired with discounts related to credit quality		7,405		2,025		62		-		-		9,492
Total	$	65,519	$	41,270	$	9,856	$	5,663	$	6,939	$	129,247
Loans:
Individually evaluated for impairment	$	42,988	$	129,094	$	26,275	$	1,906	$	-	$	200,263
Collectively evaluated for impairment		1,804,662		4,021,161		2,456,088		1,392,411		-		9,674,322
Loans acquired with discounts related to credit quality		322,926		872,077		28,951		50,399		-		1,274,353
Total	$	2,170,576	$	5,022,332	$	2,511,314	$	1,444,716	$	-	$	11,148,938
December 31, 2011
Allowance for loan losses:
Individually evaluated for impairment	$	11,105	$	8,516	$	3,577	$	45	$	-	$	23,243
Collectively evaluated for impairment		51,588		23,611		5,481		8,632		7,719		97,031
Loans acquired with discounts related to credit quality		10,956		2,510		62		-		-		13,528
Total	$	73,649	$	34,637	$	9,120	$	8,677	$	7,719	$	133,802
Loans:
Individually evaluated for impairment	$	54,858	$	107,970	$	21,005	$	242	$	-	$	184,075
Collectively evaluated for impairment		1,823,529		3,877,122		2,264,585		1,378,486		-		9,343,722
Loans acquired with discounts related to credit quality		83,742		167,625		15,546		4,931		-		271,844
Total	$	1,962,129	$	4,152,717	$	2,301,136	$	1,383,659	$	-	$	9,799,641