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Loans and Leases Loans and Leases (Tables)
 6 Months Ended
Jun. 30, 2013
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Participating Mortgage Loans
The following tables summarize the principal amounts of loans and leases outstanding net of unamortized premiums, discounts, deferred fees/costs, plus accrued interest ("recorded investment") by portfolio segment:
 
At June 30, 2013
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate
Equipment
Financing
Total
Loans and Leases:
 
 
 
 
 
 
Ending balance (1)
$
3,313,833

$
2,557,719

$
3,107,269

$
2,866,814

$
400,658

$
12,246,293

Accrued interest
10,147

7,855

10,953

7,733

—

36,688

Recorded investment
$
3,323,980

$
2,565,574

$
3,118,222

$
2,874,547

$
400,658

$
12,282,981

Recorded investment: individually evaluated for impairment
$
146,486

$
53,706

$
64,078

$
148,613

$
385

$
413,268

Recorded investment: collectively evaluated for impairment
$
3,177,494

$
2,511,868

$
3,054,144

$
2,725,934

$
400,273

$
11,869,713

 
 
At December 31, 2012
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate
Equipment
Financing
Total
Loans and Leases:
 
 
 
 
 
 
Ending balance (1)
$
3,291,724

$
2,630,867

$
2,903,733

$
2,783,061

$
419,311

$
12,028,696

Accrued interest
10,271

8,095

9,453

7,541

—

35,360

Recorded investment
$
3,301,995

$
2,638,962

$
2,913,186

$
2,790,602

$
419,311

$
12,064,056

Recorded investment: individually evaluated for impairment
$
146,944

$
54,793

$
69,426

$
154,978

$
1,980

$
428,121

Recorded investment: collectively evaluated for impairment
$
3,155,051

$
2,584,169

$
2,843,760

$
2,635,624

$
417,331

$
11,635,935

 
(1)
The ending balance includes net deferred fees and unamortized premiums of $12.5 million and $12.7 million at June 30, 2013 and December 31, 2012, respectively.
Past Due Financing Receivables
The following tables summarize the recorded investment of the Company’s loans and leases portfolio aging by class:
 
At June 30, 2013
 
(In thousands)
30-59 Days
Past Due and
Accruing
60-89 Days
Past Due and
Accruing
> 90 Days Past
Due and Accruing
Non-accrual
Total Past Due
Current
Total Loans
and Leases
Residential:
 
 
 
 
 
 
 
1-4 family
$
10,779

$
5,511

$
—

$
93,406

$
109,696

$
3,164,877

$
3,274,573

Construction
—

—

—

926

926

48,481

49,407

Consumer:
 
 
 
 
 
 
 
Home equity loans
11,248

4,566

—

44,718

60,532

2,341,508

2,402,040

Liquidating portfolio-home equity loans
1,489

462

—

7,636

9,587

103,837

113,424

Other consumer
310

119

—

87

516

49,594

50,110

Commercial:
 
 
 
 
 
 
 
Commercial non-mortgage
4,795

6,265

1,002

17,266

29,328

2,495,248

2,524,576

Asset-based loans
—

—

—

—

—

593,646

593,646

Commercial real estate:
 
 
 
 
 
 
 
Commercial real estate
1,426

649

555

16,568

19,198

2,681,289

2,700,487

Commercial construction
—

—

—

49

49

147,192

147,241

Residential development
—

740

—

4,445

5,185

21,634

26,819

Equipment financing
510

274

—

1,852

2,636

398,022

400,658

Total
$
30,557

$
18,586

$
1,557

$
186,953

$
237,653

$
12,045,328

$
12,282,981

 
At December 31, 2012
 
(In thousands)
30-59 Days
Past Due and
Accruing
60-89 Days
Past Due and
Accruing
> 90 Days Past
Due and Accruing
Non-accrual
Total Past Due
Current
Total Loans
and Leases
Residential:
 
 
 
 
 
 
 
1-4 family
$
16,955

$
8,250

$
—

$
94,853

$
120,058

$
3,142,220

$
3,262,278

Construction
—

360

—

823

1,183

38,535

39,718

Consumer:
 
 
 
 
 
 
 
Home equity loans
17,745

6,993

—

49,516

74,254

2,396,944

2,471,198

Liquidating portfolio-home equity loans
2,063

1,626

—

8,200

11,889

111,760

123,649

Other consumer
338

195

—

135

668

43,446

44,114

Commercial:
 
 
 
 
 
 
 
Commercial non-mortgage
2,248

552

347

17,547

20,694

2,386,775

2,407,469

Asset-based loans
—

—

—

—

—

505,717

505,717

Commercial real estate:
 
 
 
 
 
 
 
Commercial real estate
1,081

13,784

910

15,658

31,433

2,617,213

2,648,646

Commercial construction
—

—

—

49

49

114,097

114,146

Residential development
—

—

—

5,044

5,044

22,766

27,810

Equipment financing
1,593

333

—

3,325

5,251

414,060

419,311

Total
$
42,023

$
32,093

$
1,257

$
195,150

$
270,523

$
11,793,533

$
12,064,056
Activity In Allowance For Losses
Allowance for Loan and Lease Losses. The following tables summarize the ALLL by portfolio segment: 
 
Three months ended June 30, 2013
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate
Equipment
Financing
Unallocated
Total
Allowance for loan and lease losses:
 
 
 
 
 
 
 
Balance, beginning of period
$
27,891

$
50,369

$
44,050

$
30,894

$
3,636

$
11,000

$
167,840

Provision (benefit) charged to expense
657

4,360

4,895

(479
)
(933
)
—

8,500

Losses charged off
(2,112
)
(7,331
)
(6,156
)
(2,510
)
(4
)
—

(18,113
)
Recoveries
440

2,261

1,058

552

904

—

5,215

Balance, end of period
$
26,876

$
49,659

$
43,847

$
28,457

$
3,603

$
11,000

$
163,442

Ending balance: individually evaluated for impairment
$
14,010

$
3,506

$
880

$
3,522

$
—

$
—

$
21,918

Ending balance: collectively evaluated for impairment
$
12,866

$
46,153

$
42,967

$
24,935

$
3,603

$
11,000

$
141,524

 
 
Three months ended June 30, 2012
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate
Equipment
Financing
Unallocated
Total
Allowance for loan and lease losses:
 
 
 
 
 
 
 
Balance, beginning of period
$
32,039

$
64,263

$
51,003

$
40,187

$
7,796

$
15,000

$
210,288

Provision (benefit) charged to expense
3,840

6,621

1,763

(2,661
)
(3,313
)
(1,250
)
5,000

Losses charged off
(3,952
)
(11,349
)
(5,676
)
(1,066
)
(165
)
—

(22,208
)
Recoveries
136

2,702

1,678

46

1,115

—

5,677

Balance, end of period
$
32,063

$
62,237

$
48,768

$
36,506

$
5,433

$
13,750

$
198,757

Ending balance: individually evaluated for impairment
$
17,086

$
4,568

$
5,761

$
5,652

$
3

$
—

$
33,070

Ending balance: collectively evaluated for impairment
$
14,977

$
57,669

$
43,007

$
30,854

$
5,430

$
13,750

$
165,687


 
Six months ended June 30, 2013
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate
Equipment
Financing
Unallocated
Total
Allowance for loan and lease losses:
 
 
 
 
 
 
 
Balance, beginning of period
$
29,474

$
54,254

$
46,566

$
30,834

$
4,001

$
12,000

$
177,129

Provision (benefit) charged to expense
1,760

9,060

5,119

3,100

(2,039
)
(1,000
)
16,000

Losses charged off
(5,048
)
(17,738
)
(10,495
)
(6,270
)
(91
)
—

(39,642
)
Recoveries
690

4,083

2,657

793

1,732

—

9,955

Balance, end of period
$
26,876

$
49,659

$
43,847

$
28,457

$
3,603

$
11,000

$
163,442

Ending balance: individually evaluated for impairment
$
14,010

$
3,506

$
880

$
3,522

$
—

$
—

$
21,918

Ending balance: collectively evaluated for impairment
$
12,866

$
46,153

$
42,967

$
24,935

$
3,603

$
11,000

$
141,524

 
Six months ended June 30, 2012
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate
Equipment
Financing
Unallocated
Total
Allowance for loan and lease losses:
 
 
 
 
 
 
 
Balance, beginning of period
$
34,565

$
67,785

$
60,681

$
45,013

$
8,943

$
16,500

$
233,487

Provision (benefit) charged to expense
4,288

11,096

5,279

(2,739
)
(6,174
)
(2,750
)
9,000

Losses charged off
(7,067
)
(21,400
)
(20,670
)
(6,914
)
(799
)
—

(56,850
)
Recoveries
277

4,756

3,478

1,146

3,463

—

13,120

Balance, end of period
$
32,063

$
62,237

$
48,768

$
36,506

$
5,433

$
13,750

$
198,757

Ending balance: individually evaluated for impairment
$
17,086

$
4,568

$
5,761

$
5,652

$
3

$
—

$
33,070

Ending balance: collectively evaluated for impairment
$
14,977

$
57,669

$
43,007

$
30,854

$
5,430

$
13,750

$
165,687
Impaired Loans
The following table summarizes average recorded investment and interest income recognized by class of impaired loans and leases:
 
 
Three months ended
Six months ended
 
 
Three months ended
Six months ended
 
June 30, 2013
June 30, 2013
June 30, 2013
 
June 30, 2012
June 30, 2012
June 30, 2012
(In thousands)
Average
Recorded
Investment
Total
Interest
Income
Total
Interest
Income
 
Average
Recorded
Investment
Total
Interest
Income
Total
Interest
Income
Residential:
 
 
 
 
 
 
 
1-4 family
$
146,455

$
1,563

$
3,037

 
$
135,902

$
1,361

$
2,751

Construction
261

—

2

 
118

2

2

Consumer:
 
 
 
 
 
 
 
Home equity loans
47,343

578

1,149

 
30,592

352

703

Liquidating portfolio-home equity loans
6,907

119

237

 
5,071

64

131

Other consumer
—

—

—

 
3

—

—

Commercial:
 
 
 
 
 
 
 
Commercial non-mortgage
66,752

685

1,393

 
93,846

1,073

2,205

Asset-based loans
—

—

—

 
1,029

—

—

Commercial real estate:
 
 
 
 
 
 
 
Commercial real estate
121,710

1,165

2,566

 
163,422

1,250

2,442

Commercial construction
3,593

67

134

 
7,350

72

146

Residential development
12,768

95

187

 
14,360

82

171

Equipment financing
1,183

6

13

 
3,221

9

23

Totals:
 
 
 
 
 
 
 
Residential
146,716

1,563

3,039

 
136,020

1,363

2,753

Consumer
54,250

697

1,386

 
35,666

416

834

Commercial
66,752

685

1,393

 
94,875

1,073

2,205

Commercial real estate
138,071

1,327

2,887

 
185,132

1,404

2,759

Equipment financing
1,183

6

13

 
3,221

9

23

Total
$
406,972

$
4,278

$
8,718

 
$
454,914

$
4,265

$
8,574

Impaired Loans and Leases. The following tables summarize impaired loans and leases by class:
 
At June 30, 2013
(In thousands)
Unpaid
Principal
Balance
Total
Recorded
Investment
Recorded
Investment
No Allowance
Recorded
Investment
With Allowance
Related
Valuation
Allowance
 
Residential:
 
 
 
 
 
 
1-4 family
$
162,021

$
146,226

$
23,327

$
122,900

$
14,005

 
Construction
446

260

156

103

5

 
Consumer:
 
 
 
 
 
 
Home equity loans
55,281

46,931

24,003

22,929

2,947

 
Liquidating portfolio-home equity loans
8,749

6,775

3,839

2,936

559

 
Commercial:
 
 
 
 
 
 
Commercial non-mortgage
69,357

64,078

35,871

28,206

880

 
Commercial real estate:
 
 
 
 
 
 
Commercial real estate
127,285

122,226

70,144

52,082

3,404

 
Commercial construction
—

—

—

—

—

 
Residential development
13,694

12,764

4,833

7,932

118

 
Equipment financing
423

385

290

95

—

 
Totals:
 
 
 
 
 
 
Residential
162,467

146,486

23,483

123,003

14,010

 
Consumer
64,030

53,706

27,842

25,865

3,506

 
Commercial
69,357

64,078

35,871

28,206

880

 
Commercial real estate
140,979

134,990

74,977

60,014

3,522

 
Equipment financing
423

385

290

95

—

 
Total
$
437,256

$
399,645

$
162,463

$
237,183

$
21,918

 
 
 
At December 31, 2012
(In thousands)
Unpaid
Principal
Balance
Total
Recorded
Investment
Recorded
Investment
No Allowance
Recorded
Investment
With Allowance
Related
Valuation
Allowance
 
Residential:
 
 
 
 
 
 
1-4 family
$
160,490

$
146,683

$
24,267

$
122,416

$
14,726

 
Construction
446

261

156

105

5

 
Consumer:
 
 
 
 
 
 
Home equity loans
56,815

47,755

23,967

23,788

2,960

 
Liquidating portfolio-home equity loans
11,788

7,038

3,663

3,375

651

 
Commercial:
 
 
 
 
 
 
Commercial non-mortgage
90,627

69,426

21,942

47,484

6,423

 
Commercial real estate:
 
 
 
 
 
 
Commercial real estate
123,861

121,193

65,212

55,981

2,572

 
Commercial construction
7,177

7,185

7,185

—

—

 
Residential development
13,444

12,771

5,029

7,742

111

 
Equipment financing
2,357

1,980

1,781

199

1

 
Totals:
 
 
 
 
 
 
Residential
160,936

146,944

24,423

122,521

14,731

 
Consumer
68,603

54,793

27,630

27,163

3,611

 
Commercial
90,627

69,426

21,942

47,484

6,423

 
Commercial real estate
144,482

141,149

77,426

63,723

2,683

 
Equipment financing
2,357

1,980

1,781

199

1

 
Total
$
467,005

$
414,292

$
153,202

$
261,090

$
27,449

 
Troubled Debt Restructurings on Financing Receivables
The following tables provide information on loans and leases modified as a TDR within the previous 12 months and for which there was a payment default during the periods presented:
 
Three months ended June 30,
 
2013
 
2012
(Dollars in thousands)
Number of
Loans and
Leases
Recorded
Investment
 
Number of
Loans and
Leases
Recorded
Investment
Residential:
 
 
 
 
 
1-4 family
3

$
622

 
2

$
441

Consumer:
 
 
 
 
 
Home equity loans
—

—

 
2

535

Liquidating portfolio-home equity loans
2

81

 
—

—

Commercial:
 
 
 
 
 
Commercial non-mortgage
—

—

 
—

—

Commercial real estate:
 
 
 
 
 
Commercial real estate
1

2,561

 
—

—

Total
6

$
3,264

 
4

$
976


 
Six months ended June 30,
 
2013
 
2012
(Dollars in thousands)
Number of
Loans and
Leases
Recorded
Investment
 
Number of
Loans and
Leases
Recorded
Investment
Residential:
 
 
 
 
 
1-4 family
5

$
989

 
2

$
441

Consumer:
 
 
 
 
 
Home equity loans
3

38

 
2

535

Liquidating portfolio-home equity loans
2

81

 
—

—

Commercial:
 
 
 
 
 
Commercial non-mortgage
—

—

 
—

—

Commercial real estate:
 
 
 
 
 
Commercial real estate
1

2,561

 
—

—

Total
11

$
3,669

 
4

$
976

TDR loans may be modified by means of extended maturity, below market adjusted interest rates, a combination of rate and maturity, or by other means including covenant modifications, or other concessions.The following tables provide information on how loans and leases were modified as TDRs in the period:
 
Three months ended June 30,
 
2013
 
2012
(In thousands)
Extended
Maturity
Adjusted
Interest
Rates
Combination
of Rate and
Maturity
Other (1)
Total
 
Extended
Maturity
Adjusted
Interest
Rates
Combination
of Rate and
Maturity
Other (1)
Total
Residential:
 
 
 
 
 
 
 
 
 
 
 
1-4 family
$
1,615

$
493

$
2,722

$
3,015

$
7,845

 
$
398

$
723

$
1,160

$
2,487

$
4,768

Construction
—

—

—

—

—

 
—

—

104

—

104

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity loans
467

—

133

981

1,581

 
891

—

249

179

1,319

Liquidating portfolio-home equity loans
80

—

—

265

345

 
35

—

—

—

35

Commercial:
 
 
 
 
 
 
 
 
 
 
 
Commercial non-mortgage
7,018

—

282

—

7,300

 
287

—

—

5,471

5,758

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
38

—

—

—

38

 
2,068

—

—

99

2,167

Residential development
—

—

—

—

—

 
—

—

—

—

—

Equipment financing
—

—

—

—

—

 
142

—

—

—

142

Total TDRs
$
9,218

$
493

$
3,137

$
4,261

$
17,109

 
$
3,821

$
723

$
1,513

$
8,236

$
14,293


 
Six months ended June 30,
 
2013
 
2012
(In thousands)
Extended
Maturity
Adjusted
Interest
Rates
Combination
of Rate and
Maturity
Other (1)
Total
 
Extended
Maturity
Adjusted
Interest
Rates
Combination
of Rate and
Maturity
Other (1)
Total
Residential:
 
 
 
 
 
 
 
 
 
 
 
1-4 family
$
2,520

$
1,234

$
6,071

$
4,433

$
14,258

 
$
1,030

$
1,006

$
3,564

$
3,228

$
8,828

Construction
—

—

—

—

—

 
—

—

104

—

104

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity loans
575

154

1,217

2,032

3,978

 
955

107

887

323

2,272

Liquidating portfolio-home equity loans
80

—

—

354

434

 
35

—

—

—

35

Commercial:
 
 
 
 
 
 
 
 
 
 
 
Commercial non-mortgage
7,520

—

629

39

8,188

 
314

—

286

16,386

16,986

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
38

—

11,675

—

11,713

 
2,068

—

245

99

2,412

Residential development
189

—

—

—

189

 
—

—

—

—

—

Equipment financing
—

—

—

—

—

 
142

—

40

160

342

Total TDRs
$
10,922

$
1,388

$
19,592

$
6,858

$
38,760

 
$
4,544

$
1,113

$
5,126

$
20,196

$
30,979

(1)
Includes covenant modifications, forbearance, loans discharged under Chapter 7 bankruptcy (2013 only), and/or other concessions.
The following tables provide information on loans and leases modified as TDRs in the period:
 
Three months ended June 30,
 
2013
 
2012
(Dollars in thousands)
Number of
Loans and
Leases
Pre-
Modification
Recorded
Investment
Post-
Modification
Recorded
Investment
Post-
Modification
Coupon
Rate
 
Number of
Loans and
Leases
Pre-
Modification
Recorded
Investment
Post-
Modification
Recorded
Investment
Post-
Modification
Coupon
Rate
Residential:
 
 
 
 
 
 
 
 
 
1-4 family
40

$
7,845

$
7,845

3.9
%
 
26

$
4,768

$
4,768

3.4
%
Construction
—

—

—

—

 
1

104

104

6.9

Consumer:
 
 
 
 
 
 
 
 
 
Home equity loans
28

1,581

1,581

4.3

 
15

1,319

1,319

4.0

Liquidating portfolio-home equity loans
4

345

345

4.4

 
2

35

35

9.2

Commercial:
 
 
 
 
 
 
 
 
 
Commercial non-mortgage
7

7,300

7,300

7.4

 
13

5,758

5,758

7.4

Commercial real estate:
 
 
 
 
 
 
 
 
 
Commercial real estate
1

38

38

4.5

 
2

2,167

2,167

4.9

Residential development
—

—

—

—

 
—

—

—

—

Equipment financing
—

—

—

—

 
4

142

142

7.6

Total TDRs
80

$
17,109

$
17,109

5.4
%
 
63

$
14,293

$
14,293

5.4
%

 
Six months ended June 30,
 
2013
 
2012
(Dollars in thousands)
Number of
Loans and
Leases
Pre-
Modification
Recorded
Investment
Post-
Modification
Recorded
Investment
Post-
Modification
Coupon
Rate
 
Number of
Loans and
Leases
Pre-
Modification
Recorded
Investment
Post-
Modification
Recorded
Investment
Post-
Modification
Coupon
Rate
Residential:
 
 
 
 
 
 
 
 
 
1-4 family
72

$
14,258

$
14,258

3.9
%
 
50

$
8,828

$
8,828

3.7
%
Construction
—

—

—

—

 
1

104

104

6.9

Consumer:
 
 
 
 
 
 
 
 
 
Home equity loans
65

3,978

3,978

4.2

 
27

2,272

2,272

4.0

Liquidating portfolio-home equity loans
9

434

434

5.0

 
4

35

35

9.1

Commercial:
 
 
 
 
 
 
 
 
 
Commercial non-mortgage
10

8,188

8,188

7.1

 
25

16,986

16,986

7.2

Commercial real estate:
 
 
 
 
 
 
 
 
 
Commercial real estate
3

11,713

11,713

2.7

 
3

2,412

2,412

5.0

Residential development
2

189

189

5.3

 
—

—

—

—

Equipment financing
—

—

—

—

 
7

342

342

7.2

Total TDRs
161

$
38,760

$
38,760

4.3
%
 
117

$
30,979

$
30,979

5.8
%
The following table summarizes the information for the Company’s TDRs:
(Dollars in thousands)
At June 30,
2013
 
At December 31,
2012
Recorded investment of TDRs:
 
 
 
Accrual status
$
272,922

 
$
288,578

Non-accrual status
118,208

 
115,583

Total recorded investment
$
391,130

 
$
404,161

Accruing TDRs performing under modified terms more than one year
57.4
%
 
60.2
%
TDR specific reserves included in the balance of allowance for loan and lease losses
$
21,882

 
$
27,317

Additional funds committed to borrowers in TDR status (1)
5,854

 
3,263

 
(1)
This amount may be limited by contractual rights and/or the underlying collateral supporting the loan or lease.
Financing Receivable Credit Quality Indicators
The recorded investment in commercial and commercial real estate loans and equipment financing leases segregated by risk rating exposure is as follows:
(In thousands)
Commercial
 
Commercial Real Estate
 
Equipment Financing
 
At June 30,
2013
 
At December 31,
2012
 
At June 30,
2013
 
At December 31,
2012
 
At June 30,
2013
 
At December 31,
2012
(1) - (6) Pass
$
2,885,779

 
$
2,701,061

 
$
2,714,549

 
$
2,588,987

 
$
376,433

 
$
381,304

(7) Special Mention
90,482

 
43,856

 
25,702

 
56,023

 
9,501

 
12,893

(8) Substandard
139,644

 
167,485

 
133,826

 
143,904

 
14,724

 
25,114

(9) Doubtful
2,317

 
784

 
470

 
1,688

 
—

 
—

(10) Loss
—

 
—

 
—

 
—

 
—

 
—

Total
$
3,118,222

 
$
2,913,186

 
$
2,874,547

 
$
2,790,602

 
$
400,658

 
$
419,311

The recorded investment in commercial, commercial real estate and equipment financing TDRs segregated by risk rating exposure is as follows:
(In thousands)
At June 30,
2013
 
At December 31,
2012
(1) - (6) Pass
$
60,582

 
$
56,661

(7) Special Mention
4,745

 
—

(8) Substandard
125,211

 
143,903

(9) Doubtful
401

 
1,860

(10) Loss
—

 
—

Total
$
190,939

 
$
202,424