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Loans and Leases Loans and Leases (Tables)
 9 Months Ended
Sep. 30, 2013
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Participating Mortgage Loans
The following tables summarize the recorded investment by portfolio segment:
 
At September 30, 2013
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate 1
Equipment
Financing
Total 2
Recorded Investment:
 
 
 
 
 
 
Individually evaluated for impairment
$
143,534

$
52,907

$
62,190

$
138,333

$
292

$
397,256

Collectively evaluated for impairment
3,217,268

2,487,122

3,134,197

2,853,099

425,535

12,117,221

Recorded investment in loans and leases
3,360,802

2,540,029

3,196,387

2,991,432

425,827

12,514,477

Less: Accrued interest
10,225

7,730

10,988

7,569

—

36,512

Loans and leases
$
3,350,577

$
2,532,299

$
3,185,399

$
2,983,863

$
425,827

$
12,477,965

 
 
At December 31, 2012
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate 1
Equipment
Financing
Total 2
Recorded Investment:
 
 
 
 
 
 
Individually evaluated for impairment
$
146,944

$
54,793

$
69,426

$
154,978

$
1,980

$
428,121

Collectively evaluated for impairment
3,155,051

2,584,169

2,843,760

2,635,624

417,331

11,635,935

Recorded investment in loans and leases
3,301,995

2,638,962

2,913,186

2,790,602

419,311

12,064,056

Less: Accrued interest
10,271

8,095

9,453

7,541

—

35,360

Loans and leases
$
3,291,724

$
2,630,867

$
2,903,733

$
2,783,061

$
419,311

$
12,028,696

 
(1)
Includes certain loans individually evaluated for impairment, under the Company's loan policy, that were deemed not to be impaired at both September 30, 2013 and December 31, 2012.
(2)
Loans and leases include net deferred fees and unamortized premiums of $13.2 million and $12.7 million at September 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 September 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 and Non-accrual
Current
Total Loans
and Leases
Residential:
 
 
 
 
 
 
 
1-4 family
$
12,259

$
8,851

$
—

$
85,879

$
106,989

$
3,210,931

$
3,317,920

Construction
—

—

—

390

390

42,492

42,882

Consumer:
 
 
 
 
 
 
 
Home equity loans
10,407

5,318

—

45,504

61,229

2,312,883

2,374,112

Liquidating portfolio-home equity loans
1,707

1,089

—

6,554

9,350

100,537

109,887

Other consumer
434

81

—

180

695

55,335

56,030

Commercial:
 
 
 
 
 
 
 
Commercial non-mortgage
2,406

622

4,239

17,453

24,720

2,557,866

2,582,586

Asset-based loans
—

—

—

—

—

613,801

613,801

Commercial real estate:
 
 
 
 
 
 
 
Commercial real estate
552

—

625

15,883

17,060

2,788,443

2,805,503

Commercial construction
—

—

—

49

49

161,252

161,301

Residential development
—

—

—

4,317

4,317

20,311

24,628

Equipment financing
422

33

—

1,669

2,124

423,703

425,827

Total
$
28,187

$
15,994

$
4,864

$
177,878

$
226,923

$
12,287,554

$
12,514,477

 
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 and Non-accrual
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 September 30, 2013
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate
Equipment
Financing
Unallocated
Total
Allowance for loan and lease losses:
 
 
 
 
 
 
 
Balance, beginning of period
$
26,876

$
49,659

$
43,847

$
28,457

$
3,603

$
11,000

$
163,442

Provision (benefit) charged to expense
1,075

(1,732
)
3,783

6,046

(672
)
—

8,500

Losses charged off
(3,800
)
(5,827
)
(3,245
)
(4,069
)
(10
)
—

(16,951
)
Recoveries
152

1,188

426

105

683

—

2,554

Balance, end of period
$
24,303

$
43,288

$
44,811

$
30,539

$
3,604

$
11,000

$
157,545

Ending balance: individually evaluated for impairment
$
13,003

$
3,281

$
1,630

$
5,397

$
—

$
—

$
23,311

Ending balance: collectively evaluated for impairment
$
11,300

$
40,007

$
43,181

$
25,142

$
3,604

$
11,000

$
134,234

 
 
Three months ended September 30, 2012
(In thousands)
Residential
Consumer
Commercial
Commercial
Real Estate
Equipment
Financing
Unallocated
Total
Allowance for loan and lease losses:
 
 
 
 
 
 
 
Balance, beginning of period
$
32,063

$
62,237

$
48,768

$
36,506

$
5,433

$
13,750

$
198,757

Provision (benefit) charged to expense
1,110

9,740

2,944

(4,315
)
(3,479
)
(1,000
)
5,000

Losses charged off
(3,262
)
(9,234
)
(8,642
)
(2,655
)
(187
)
—

(23,980
)
Recoveries
353

1,249

1,297

302

3,111

—

6,312

Balance, end of period
$
30,264

$
63,992

$
44,367

$
29,838

$
4,878

$
12,750

$
186,089

Ending balance: individually evaluated for impairment
$
15,420

$
7,795

$
4,552

$
3,153

$
3

$
—

$
30,923

Ending balance: collectively evaluated for impairment
$
14,844

$
56,197

$
39,815

$
26,685

$
4,875

$
12,750

$
155,166


 
Nine months ended September 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
2,835

7,328

8,902

9,146

(2,711
)
(1,000
)
24,500

Losses charged off
(8,848
)
(23,565
)
(13,740
)
(10,339
)
(101
)
—

(56,593
)
Recoveries
842

5,271

3,083

898

2,415

—

12,509

Balance, end of period
$
24,303

$
43,288

$
44,811

$
30,539

$
3,604

$
11,000

$
157,545

Ending balance: individually evaluated for impairment
$
13,003

$
3,281

$
1,630

$
5,397

$
—

$
—

$
23,311

Ending balance: collectively evaluated for impairment
$
11,300

$
40,007

$
43,181

$
25,142

$
3,604

$
11,000

$
134,234

 
Nine months ended September 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
5,398

20,836

8,223

(7,054
)
(9,653
)
(3,750
)
14,000

Losses charged off
(10,329
)
(30,634
)
(29,312
)
(9,569
)
(986
)
—

(80,830
)
Recoveries
630

6,005

4,775

1,448

6,574

—

19,432

Balance, end of period
$
30,264

$
63,992

$
44,367

$
29,838

$
4,878

$
12,750

$
186,089

Ending balance: individually evaluated for impairment
$
15,420

$
7,795

$
4,552

$
3,153

$
3

$
—

$
30,923

Ending balance: collectively evaluated for impairment
$
14,844

$
56,197

$
39,815

$
26,685

$
4,875

$
12,750

$
155,166
Impaired Loans
The following table summarizes the average recorded investment and interest income recognized by class of impaired loans and leases:
 
September 30, 2013
Three months ended September 30, 2013
Nine months ended September 30, 2013
 
September 30, 2012
Three months ended September 30, 2012
Nine months ended September 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
$
145,107

$
1,533

$
4,570

 
$
141,749

$
1,485

$
4,236

Construction
133

2

4

 
197

2

4

Consumer:
 
 
 
 
 
 
 
Home equity loans
46,962

551

1,700

 
41,724

633

1,336

Liquidating portfolio-home equity loans
6,888

112

349

 
7,721

132

263

Other consumer
—

—

—

 
4

—

—

Commercial:
 
 
 
 
 
 
 
Commercial non-mortgage
65,808

794

2,187

 
93,090

830

3,035

Asset-based loans
—

—

—

 
986

—

—

Commercial real estate:
 
 
 
 
 
 
 
Commercial real estate
116,307

1,109

3,675

 
170,213

1,479

3,921

Commercial construction
3,593

62

196

 
7,307

70

216

Residential development
12,730

99

286

 
14,083

83

254

Equipment financing
1,136

6

19

 
2,207

13

36

Totals:
 
 
 
 
 
 
 
Residential
145,240

1,535

4,574

 
141,946

1,487

4,240

Consumer
53,850

663

2,049

 
49,449

765

1,599

Commercial
65,808

794

2,187

 
94,076

830

3,035

Commercial real estate
132,630

1,270

4,157

 
191,603

1,632

4,391

Equipment financing
1,136

6

19

 
2,207

13

36

Total
$
398,664

$
4,268

$
12,986

 
$
479,281

$
4,727

$
13,301

Impaired Loans and Leases. The following tables summarize impaired loans and leases by class:
 
At September 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
$
159,412

$
143,530

$
23,544

$
119,986

$
13,003

Construction
446

4

1

3

—

Consumer:
 
 
 
 
 
Home equity loans
55,398

46,169

23,903

22,266

2,752

Liquidating portfolio-home equity loans
9,092

6,738

3,819

2,919

529

Commercial:
 
 
 
 
 
Commercial non-mortgage
67,907

62,190

21,960

40,230

1,630

Commercial real estate:
 
 
 
 
 
Commercial real estate
116,349

111,421

54,512

56,909

5,361

Commercial construction
—

—

—

—

—

Residential development
13,717

12,689

12,413

276

36

Equipment financing
331

292

292

—

—

Totals:
 
 
 
 
 
Residential
159,858

143,534

23,545

119,989

13,003

Consumer
64,490

52,907

27,722

25,185

3,281

Commercial
67,907

62,190

21,960

40,230

1,630

Commercial real estate
130,066

124,110

66,925

57,185

5,397

Equipment financing
331

292

292

—

—

Total
$
422,652

$
383,033

$
140,444

$
242,589

$
23,311

 
 
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 table summarizes the information for the Company’s TDRs:
(Dollars in thousands)
At September 30,
2013
 
At December 31,
2012
Recorded investment of TDRs:
 
 
 
Accrual status
$
260,786

 
$
288,578

Non-accrual status
110,888

 
115,583

Total recorded investment of TDRs
$
371,674

 
$
404,161

Accruing TDRs performing under modified terms more than one year
60.1
%
 
60.2
%
Specific reserves for TDRs included in the balance of allowance for loan and lease losses
$
23,153

 
$
27,317

Additional funds committed to borrowers in TDR status (1)
8,171

 
3,263

 
(1)
This amount may be limited by contractual rights and/or the underlying collateral supporting the loan or lease.
The following tables provide information on loans and leases modified as TDRs within the previous 12 months and for which there was a payment default during the periods presented:
 
Three months ended September 30,
 
2013
 
2012
(Dollars in thousands)
Number of
Loans and
Leases
Recorded
Investment
 
Number of
Loans and
Leases
Recorded
Investment
Residential:
 
 
 
 
 
1-4 family
8
$
1,116

 
—
$
—

Consumer:
 
 
 
 
 
Home equity loans
2
51

 
—
—

Liquidating portfolio-home equity loans
1
2

 
3
93

Commercial:
 
 
 
 
 
Commercial non-mortgage
1
500

 
—
—

Commercial real estate:
 
 
 
 
 
Commercial real estate
—
—

 
—
—

Total
12
$
1,669

 
3
$
93


 
Nine months ended September 30,
 
2013
 
2012
(Dollars in thousands)
Number of
Loans and
Leases
Recorded
Investment
 
Number of
Loans and
Leases
Recorded
Investment
Residential:
 
 
 
 
 
1-4 family
12
$
1,814

 
1
$
406

Consumer:
 
 
 
 
 
Home equity loans
6
341

 
3
554

Liquidating portfolio-home equity loans
1
2

 
3
93

Commercial:
 
 
 
 
 
Commercial non-mortgage
1
500

 
—
—

Commercial real estate:
 
 
 
 
 
Commercial real estate
—
—

 
—
—

Total
20
$
2,657

 
7
$
1,053

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 September 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
$
1,898

$
654

$
1,142

$
1,178

$
4,872

 
$
604

$
—

$
2,131

$
14,706

$
17,441

Construction
—

—

—

—

—

 
—

—

—

159

159

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity loans
213

—

157

688

1,058

 
38

117

448

22,674

23,277

Liquidating portfolio-home equity loans
93

—

7

123

223

 
—

—

—

5,542

5,542

Commercial:
 
 
 
 
 
 
 
 
 
 
 
Commercial non-mortgage
—

—

353

4,568

4,921

 
—

—

737

4,049

4,786

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
—

—

340

—

340

 
—

—

—

21,507

21,507

Residential development
—

—

—

—

—

 
—

—

—

—

—

Equipment financing
—

—

—

—

—

 
—

—

248

—

248

Total TDRs
$
2,204

$
654

$
1,999

$
6,557

$
11,414

 
$
642

$
117

$
3,564

$
68,637

$
72,960


 
Nine months ended September 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
$
4,418

$
1,888

$
7,213

$
5,611

$
19,130

 
$
1,634

$
1,006

$
5,695

$
17,934

$
26,269

Construction
—

—

—

—

—

 
—

—

104

159

263

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity loans
788

154

1,374

2,720

5,036

 
993

224

1,335

22,997

25,549

Liquidating portfolio-home equity loans
173

—

7

477

657

 
35

—

—

5,542

5,577

Commercial:
 
 
 
 
 
 
 
 
 
 
 
Commercial non-mortgage
7,520

—

982

4,607

13,109

 
314

—

1,023

20,435

21,772

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
38

—

12,015

—

12,053

 
2,068

—

245

21,606

23,919

Residential development
189

—

—

—

189

 
—

—

—

—

—

Equipment financing
—

—

—

—

—

 
142

—

288

160

590

Total TDRs
$
13,126

$
2,042

$
21,591

$
13,415

$
50,174

 
$
5,186

$
1,230

$
8,690

$
88,833

$
103,939

(1)
Includes covenant modifications, forbearance, loans discharged under Chapter 7 bankruptcy, and/or other concessions.
The following tables provide information on loans and leases modified as TDRs in the period:
 
Three months ended September 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
24

$
4,872

$
4,872

4.5
%
 
120

$
17,441

$
17,441

4.7
%
Construction
—

—

—

—

 
1

159

159

6.4

Consumer:
 
 
 
 
 
 
 
 
 
Home equity loans
31

1,058

1,058

5.2

 
459

23,277

23,277

5.1

Liquidating portfolio-home equity loans
10

223

223

5.6

 
108

5,542

5,542

5.5

Commercial:
 
 
 
 
 
 
 
 
 
Commercial non-mortgage
14

4,921

4,921

5.4

 
8

4,786

4,786

3.1

Commercial real estate:
 
 
 
 
 
 
 
 
 
Commercial real estate
2

340

340

5.6

 
4

21,507

21,507

2.2

Residential development
—

—

—

—

 
—

—

—

—

Equipment financing
—

—

—

—

 
1

248

248

6.1

Total TDRs
81

$
11,414

$
11,414

5.0
%
 
701

$
72,960

$
72,960

4.1
%

 
Nine months ended September 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
96

$
19,130

$
19,130

4.0
%
 
170

$
26,269

$
26,269

4.4
%
Construction
—

—

—

—

 
2

263

263

6.6

Consumer:
 
 
 
 
 
 
 
 
 
Home equity loans
96

5,036

5,036

4.4

 
486

25,549

25,549

5.0

Liquidating portfolio-home equity loans
19

657

657

5.2

 
112

5,577

5,577

5.6

Commercial:
 
 
 
 
 
 
 
 
 
Commercial non-mortgage
24

13,109

13,109

6.5

 
33

21,772

21,772

6.3

Commercial real estate:
 
 
 
 
 
 
 
 
 
Commercial real estate
5

12,053

12,053

2.8

 
7

23,919

23,919

2.5

Residential development
2

189

189

5.0

 
—

—

—

—

Equipment financing
—

—

—

—

 
8

590

590

6.7

Total TDRs
242

$
50,174

$
50,174

4.4
%
 
818

$
103,939

$
103,939

4.6
%
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 September 30,
2013
 
At December 31,
2012
 
At September 30,
2013
 
At December 31,
2012
 
At September 30,
2013
 
At December 31,
2012
(1) - (6) Pass
$
2,990,708

 
$
2,701,061

 
$
2,865,921

 
$
2,588,987

 
$
403,943

 
$
381,304

(7) Special Mention
74,439

 
43,856

 
9,535

 
56,023

 
7,466

 
12,893

(8) Substandard
130,301

 
167,485

 
115,434

 
143,904

 
14,418

 
25,114

(9) Doubtful
939

 
784

 
542

 
1,688

 
—

 
—

(10) Loss
—

 
—

 
—

 
—

 
—

 
—

Total
$
3,196,387

 
$
2,913,186

 
$
2,991,432

 
$
2,790,602

 
$
425,827

 
$
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 September 30,
2013
 
At December 31,
2012
(1) - (6) Pass
$
56,456

 
$
56,661

(7) Special Mention
—

 
—

(8) Substandard
118,353

 
143,903

(9) Doubtful
423

 
1,860

(10) Loss
—

 
—

Total
$
175,232

 
$
202,424