Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2012

Loans and Allowance for Loan Losses [Abstract]

Loans, net of unearned income

	March 31, 2012		December 31, 2011
	(In thousands)
Originated loans:
Commerical	$	1,666,845	$	1,525,409
Construction		639,217		540,806
Real estate		1,396,466		1,259,757
Residential mortgage loans		564,218		487,147
Consumer loans		1,184,261		1,074,611
Total originated loans	$	5,451,007	$	4,887,730
Acquired loans:
Commerical	$	2,045,474	$	2,236,758
Construction		524,570		603,371
Real estate		1,495,280		1,656,515
Residential mortgage loans		671,275		734,669
Consumer loans		308,883		386,540
Total acquired loans	$	5,045,482	$	5,617,853
Covered loans:
Commerical	$	42,273	$	38,063
Construction		121,427		118,828
Real estate		60,823		82,651
Residential mortgage loans		275,856		285,682
Consumer loans		133,405		146,219
Total covered loans	$	633,784	$	671,443
Total loans:
Commerical	$	3,754,592	$	3,800,230
Construction		1,285,214		1,263,005
Real estate		2,952,569		2,998,923
Residential mortgage loans		1,511,349		1,507,498
Consumer loans		1,626,549		1,607,370
Total loans	$	11,130,273	$	11,177,026

Allowance for loan losses by portfolio segment and related recorded investment in loans

	Commercial			Residential mortgages			Consumer			Total
(In thousands)	March 31, 2012
Allowance for loan losses:
Beginning balance	$	78,414		$	13,918		$	32,549		$	124,881
Charge-offs		(24,919	)		(1,118	)		(3,578	)		(29,615	)
Recoveries		4,212			397			1,523			6,132
Net provision for loan losses (a)		10,473			3,639			(4,097	)		10,015
Increase in indemnification asset (a)		15,758			12,397			2,769			30,924
Ending balance	$	83,938		$	29,233		$	29,166		$	142,337
Ending balances:
Individually evaluated for impairment	$	10,634		$	565		$	—		$	11,199
Collectively evaluated for impairment	$	73,304		$	28,668		$	29,166		$	131,138
Covered loans with deteriorated credit quality	$	18,446		$	22,074		$	17,322		$	57,842
Loans:
Ending balances:
Total	$	7,992,375		$	1,511,349		$	1,626,549		$	11,130,273
Individually evaluated for impairment	$	48,338		$	8,084		$	—		$	56,422
Collectively evaluated for impairment	$	7,719,514		$	1,227,409		$	1,493,144		$	10,440,067
Covered loans	$	224,523		$	275,856		$	133,405		$	633,784
Acquired loans (b)	$	4,065,324		$	671,275		$	308,883		$	5,045,482

(a) The Company increased the allowance by $32.6 million for losses related to impairment on certain pools of covered loans. This provision was mostly offset by a $30.9 million increase in the FDIC indemnification asset.

(b) Acquired loans were recorded at fair value with no allowance brought forward in accordance with acquisition accounting. There has been no allowance since acquisition.

	Commercial			Residential mortgages			Consumer			Total
(In thousands)	March 31, 2011
Allowance for loan losses:
Beginning balance	$	56,859		$	4,626		$	20,512		$	81,997
Charge-offs		(4,754	)		(1,142	)		(3,183	)		(9,079	)
Recoveries		574			771			917			2,262
Net provision for loan losses (a)		6,837			687			1,298			8,822
Increase in indemnification asset (a)		10,354			—			—			10,354
Ending balance	$	69,870		$	4,942		$	19,544		$	94,356
Ending balances:
Total	$	10,627		$	1,310		$	—		$	11,937
Collectively evaluated for impairment	$	59,243		$	3,632		$	19,544		$	82,419
Covered loans with deteriorated credit quality	$	10,899		$	—		$	—		$	10,899
Loans:
Ending balance:	$	3,089,365		$	630,092		$	1,121,518		$	4,840,975
Individually evaluated for impairment	$	53,093		$	6,258		$	—		$	59,351
Collectively evaluated for impairment	$	2,673,605		$	353,793		$	977,132		$	4,004,530
Covered loans	$	362,667		$	270,041		$	144,386		$	777,094

(a) The Company increased the allowance by $10.9 million for losses related to impairment on certain pools of covered loans. This provision was mostly offset by a $10.4 million increase in the FDIC indemnification asset.

Summary of composition of Non-Accrual Loans by portfolio segment

	March 31,		December 31,
	2012		2011
	(In thousands)
Originated loans:
Commercial loans	$	77,237	$	55,046
Residential mortgage loans		24,253		24,406
Consumer loans		3,883		3,855
Total originated loans	$	105,373	$	83,307
Acquired loans:
Commercial loans	$	284	$	—
Residential mortgage loans		1,251		—
Consumer loans		274		1,117
Total acquired loans	$	1,809	$	1,117
Covered loans:
Commercial loans	$	8,774	$	18,209
Residential mortgage loans		603		637
Consumer loans		—		—
Total covered loans	$	9,377	$	18,846
Total loans:
Commercial loans	$	86,295	$	73,255
Residential mortgage loans		26,107		25,043
Consumer loans		4,157		4,972
Total loans	$	116,559	$	103,270

Schedule of troubled debt restructurings occurred during the period by portfolio segment

			March 31, 2012						March 31, 2011
	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
Troubled Debt Restructurings:
Commercial		30	$	21,770	$	18,165		15	$	20,694	$	18,431
Mortgage real estate		4		1,879		1,761		3		1,342		1,326
Total		34	$	23,649	$	19,926		18	$	22,036	$	19,757

Summary of impaired loans disaggregated by class

March 31, 2012	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
			(In thousands)
Total loans:
With no related allowance recorded:
Commercial	$	8,821	$	21,651	$	—	$	16,030	$	24
Residential mortgages		1,540		3,087		—		2,316		—
Consumer		—		—		—		—		—
		10,361		24,738		—		18,346		24
With an allowance recorded:
Commercial		57,112		79,203		10,634		55,102		179
Residential mortgages		8,687		10,723		565		5,917		32
Consumer		—		—		—		—		—
		65,799		89,926		11,199		61,019		211
Total:
Commercial		65,933		100,854		10,634		71,132		203
Residential mortgages		10,227		13,810		565		8,233		32
Consumer		—		—		—		—		—
Total loans	$	76,160	$	114,664	$	11,199	$	79,365	$	235
December 31, 2011	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
			(In thousands)
Total loans:
With no related allowance recorded:
Commercial	$	28,051	$	46,692	$	—	$	18,461	$	359
Residential mortgages		1,582		2,802		—		2,934		58
Consumer		—		—		—		—		—
		29,633		49,494		—		21,395		417
With an allowance recorded:
Commercial		28,369		33,503		6,997		59,724		254
Residential mortgages		4,298		5,588		570		5,059		7
Consumer		—		—		—		—		—
		32,667		39,091		7,567		64,783		261
Total:
Commercial		56,420		80,195		6,997		78,185		613
Residential mortgages		5,880		8,390		570		7,993		65
Consumer		—		—		—		—		—
Total loans	$	62,300	$	88,585	$	7,567	$	86,178	$	678

Summary of age analysis of past due loans

March 31, 2012	30-89 days past due		Greater than 90 days past due		Total past due		Current		Total Loans		Recorded investment > 90 days and accruing
	(In thousands)
Originated loans:
Commercial loans	$	20,153	$	79,222	$	99,375	$	3,603,153	$	3,702,528	$	1,983
Residential mortgages loans		19,161		24,636		43,797		520,421		564,218		383
Consumer loans		3,818		4,040		7,858		1,176,403		1,184,261		158
Total	$	43,132	$	107,898	$	151,030	$	5,299,977	$	5,451,007	$	2,524
Acquired loans:
Commercial loans	$	338	$	305	$	643	$	4,064,681	$	4,065,324	$	21
Residential mortgages loans		4,696		2,450		7,146		664,129		671,275		1,199
Consumer loans		310		309		619		308,264		308,883		36
Total	$	5,344	$	3,064	$	8,408	$	5,037,074	$	5,045,482	$	1,256
Covered loans:
Commercial loans	$	—	$	8,774	$	8,774	$	215,749	$	224,523	$	—
Residential mortgages loans		—		603		603		275,253		275,856		—
Consumer loans		—		—		—		133,405		133,405		—
Total	$	—	$	9,377	$	9,377	$	624,407	$	633,784	$	—
Total loans:
Commercial loans	$	20,491	$	88,301	$	108,792	$	7,883,583	$	7,992,375	$	2,004
Residential mortgages loans		23,857		27,689		51,546		1,459,803		1,511,349		1,582
Consumer loans		4,128		4,349		8,477		1,618,072		1,626,549		194
Total	$	48,476	$	120,339	$	168,815	$	10,961,458	$	11,130,273	$	3,780
December 31, 2011	30-89 days past due		Greater than 90 days past due		Total past due		Current		Total Loans		Recorded investment > 90 days and accruing
					(In thousands)
Originated loans:
Commercial loans	$	24,939	$	58,867	$	83,806	$	3,242,166	$	3,325,972	$	3,821
Residential mortgages loans		22,248		25,400		47,648		439,499		487,147		994
Consumer loans		4,284		3,911		8,195		1,066,416		1,074,611		56
Total	$	51,471	$	88,178	$	139,649	$	4,748,081	$	4,887,730	$	4,871
Acquired loans:
Commercial loans	$	—	$	—	$	—	$	4,496,644	$	4,496,644	$	—
Residential mortgages loans		—		—		—		734,669		734,669		—
Consumer loans		2,128		2,126		4,254		382,286		386,540		1,009
Total	$	2,128	$	2,126	$	4,254	$	5,613,599	$	5,617,853	$	1,009
Covered loans:
Commercial loans	$	—	$	18,209	$	18,209	$	221,333	$	239,542	$	—
Residential mortgages loans		—		637		637		285,045		285,682		—
Consumer loans		—		—		—		146,219		146,219		—
Total	$	—	$	18,846	$	18,846	$	652,597	$	671,443	$	—
Total loans:
Commercial loans	$	24,939	$	77,076	$	102,015	$	7,960,143	$	8,062,158	$	3,821
Residential mortgages loans		22,248		26,037		48,285		1,459,213		1,507,498		994
Consumer loans		6,412		6,037		12,449		1,594,921		1,607,370		1,065
Total	$	53,599	$	109,150	$	162,749	$	11,014,277	$	11,177,026	$	5,880

Schedule of credit quality indicators of various classes of loans

	March 31, 2012								December 31, 2011
	Commercial - originated		Commercial - acquired		Commercial - covered		Total commercial		Commercial - originated		Commercial - acquired		Commercial - covered		Total commercial
	(In thousands)								(In thousands)
Grade:
Pass	$	3,345,698	$	3,605,255	$	14,209	$	6,965,162	$	3,019,100	$	3,974,463	$	16,843	$	7,010,406
Pass-Watch		130,717		65,892		31,560		228,169		76,393		60,042		13,606		150,041
Special Mention		21,119		101,454		7,284		129,857		35,155		125,852		9,368		170,375
Substandard		204,312		292,126		116,703		613,141		194,900		334,357		124,371		653,628
Doubtful		682		597		54,767		56,046		424		1,930		75,242		77,596
Loss		—		—		—		—		—		—		112		112
Total	$	3,702,528	$	4,065,324	$	224,523	$	7,992,375	$	3,325,972	$	4,496,644	$	239,542	$	8,062,158

Schedule of credit risk profile by internally assigned grade

	March 31, 2012								December 31, 2011
	Residential mortgages - originated		Residential mortgages - acquired		Residential mortgages - covered		Total residential mortgages		Residential mortgages - originated		Residential mortgages - acquired		Residential mortgages - covered		Total residential mortgages
	(In thousands)								(In thousands)
Grade:
Pass	$	538,782	$	608,321	$	146,077	$	1,293,180	$	460,261	$	673,751	$	120,180	$	1,254,192
Pass-Watch		3,816		3,289		16,577		23,682		7,499		1,773		18,133		27,405
Special Mention		1,206		6,230		2,057		9,493		542		9,686		3,286		13,514
Substandard		20,414		53,314		110,702		184,430		18,845		48,581		139,643		207,069
Doubtful		—		121		443		564		—		878		4,440		5,318
Loss		—		—		—		—		—		—		—		—
Total	$	564,218	$	671,275	$	275,856	$	1,511,349	$	487,147	$	734,669	$	285,682	$	1,507,498

Credit risk profile based on payment activity

	March 31, 2012								December 31, 2011
	Consumer - originated		Consumer - acquired		Consumer - covered		Total Consumer		Consumer - originated		Consumer - acquired		Consumer - covered		Total Consumer
	(In thousands)								(In thousands)
Performing	$	1,180,378	$	308,609	$	133,405	$	1,622,392	$	1,070,756	$	385,423	$	146,219	$	1,602,398
Nonperforming		3,883		274		—		4,157		3,855		1,117		—		4,972
Total	$	1,184,261	$	308,883	$	133,405	$	1,626,549	$	1,074,611	$	386,540	$	146,219	$	1,607,370

Changes in the carrying amount of covered acquired loans and accretable yield for loans receivable

	March 31, 2012												December 31, 2011
	Covered						Non-covered						Covered						Non-covered
	Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield
(In thousands)
Balance at beginning of period	$	671,443		$	153,137		$	339,452		$	130,691		$	809,459		$	107,638		$	—		$	—
Additions		—			—			—			—			—			—			535,489			132,136
Payments received, net		(107,893	)		—			(40,083	)		—			(193,432	)		—			(206,306	)		—
Accretion		12,392			(12,392	)		8,000			(8,000	)		55,416			(55,416	)		10,269			(22,719	)
Decrease in expected cash flows based on actual cash flow and changes in cash flow assumptions		—			(1,542	)		—			(18,609	)		—			(18,930	)		—			(26,630	)
Net transfers from (to) nonaccretable difference to accretable yield		—			(17,014	)		—			15,501			—			119,845			—			47,904
Balance at end of period	$	575,942		$	122,189		$	307,369		$	119,583		$	671,443		$	153,137		$	339,452		$	130,691