Loans (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Non-Covered and Covered Loans

Loans consist of the following, segregated into non-covered and covered loans, for the periods indicated:



	September 30, 2015
	Non-covered loans
(Dollars in thousands)	Legacy Loans		Acquired Loans		Covered Loans		Total
Commercial loans:
Real estate	$	4,321,723	$	1,614,438	$	43,590	$	5,979,751
Commercial and industrial	2,779,503		512,049		11,419		3,302,971
Energy-related	713,935		5,521		—		719,456
	7,815,161		2,132,008		55,009		10,002,178
Residential mortgage loans:
Residential 1-4 family	596,428		398,398		119,926		1,114,752
Construction / Owner Occupied	64,115		11,074		—		75,189
	660,543		409,472		119,926		1,189,941
Consumer and other loans:
Home equity	1,488,796		449,665		77,226		2,015,687
Indirect automobile	281,522		127		—		281,649
Other	533,236		92,948		1,380		627,564
	2,303,554		542,740		78,606		2,924,900
Total	$	10,779,258	$	3,084,220	$	253,541	$	14,117,019



	December 31, 2014
	Non-covered loans
(Dollars in thousands)	Legacy Loans		Acquired Loans		Covered Loans ⁽¹⁾		Total
Commercial loans:
Real estate	$	3,676,811	$	495,842	$	189,126	$	4,361,779
Commercial and industrial	2,452,521		87,914		31,260		2,571,695
Energy-related	872,866		7,742		—		880,608
	7,002,198		591,498		220,386		7,814,082
Residential mortgage loans:
Residential 1-4 family	495,638		424,579		128,024		1,048,241
Construction / Owner Occupied	32,056		—		—		32,056
	527,694		424,579		128,024		1,080,297
Consumer and other loans:
Home equity	1,290,976		217,699		92,430		1,601,105
Indirect automobile	396,766		392		—		397,158
Other	451,080		93,618		3,704		548,402
	2,138,822		311,709		96,134		2,546,665
Total	$	9,668,714	$	1,327,786	$	444,544	$	11,441,044


⁽¹⁾	Included as covered loans at December 31, 2014 is $174.7 million of assets whose reimbursable loss periods ended as of January 1, 2015.

Schedule of Aging of Non-Covered Loans

The following tables provide an analysis of the aging of non-covered loans as of September 30, 2015 and December 31, 2014. Due to the difference in accounting for acquired loans, the tables below further segregate the Company’s non-covered loans between loans originated by the Company (“legacy loans”) and acquired loans.



	September 30, 2015
	Legacy loans
											Total Legacy Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
	Past Due ⁽¹⁾
(Dollars in thousands)	30-59 days		60-89 days		> 90 days		Total		Current
Commercial real estate - Construction	$	—	$	—	$	180	$	180	$	559,028	$	559,208	$	—
Commercial real estate - Other	1,225		1,763		14,541		17,529		3,744,986		3,762,515		242
Commercial and industrial	1,087		672		11,139		12,898		2,766,605		2,779,503		363
Energy-related	—		—		3,478		3,478		710,457		713,935		—
Residential mortgage	1,832		2,054		15,730		19,616		640,927		660,543		851
Consumer - Home equity	2,232		853		5,343		8,428		1,480,368		1,488,796		65
Consumer - Indirect automobile	1,927		470		1,129		3,526		277,996		281,522		—
Consumer - Credit card	247		116		335		698		76,018		76,716		—
Consumer - Other	900		339		920		2,159		454,361		456,520		—
Total	$	9,450	$	6,267	$	52,795	$	68,512	$	10,710,746	$	10,779,258	$	1,521



	December 31, 2014
	Legacy loans
											Total Legacy Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
	Past Due ⁽¹⁾
(Dollars in thousands)	30-59 days		60-89 days		> 90 days		Total		Current
Commercial real estate - Construction	$	507	$	—	$	69	$	576	$	483,663	$	484,239	$	—
Commercial real estate - Other	11,799		148		6,859		18,806		3,173,766		3,192,572		—
Commercial and industrial	1,589		1,860		3,225		6,674		2,445,847		2,452,521		200
Energy-related	—		—		27		27		872,839		872,866		—
Residential mortgage	1,389		2,616		14,900		18,905		508,789		527,694		538
Consumer - Home equity	4,096		595		7,420		12,111		1,278,865		1,290,976		16
Consumer - Indirect automobile	2,447		396		1,419		4,262		392,504		396,766		—
Consumer - Credit card	253		163		1,032		1,448		71,297		72,745		—
Consumer - Other	1,285		424		773		2,482		375,853		378,335		—
Total	$	23,365	$	6,202	$	35,724	$	65,291	$	9,603,423	$	9,668,714	$	754


⁽¹⁾	Past due loans greater than 90 days days include all loans on non-accrual status, regardless of past due status, as of the period indicated. Non-accrual loans are presented separately in the “Non-accrual Loans” section below.



	September 30, 2015
	Non-covered acquired loans
	Past Due ⁽¹⁾										Discount/Premium			Total Non-covered Acquired Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
(Dollars in thousands)	30-59 days		60-89 days		> 90 days		Total		Current		Discount/Premium			Total Non-covered Acquired Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
Commercial real estate - Construction	$	—	$	260	$	6,965	$	7,225	$	118,084	$	(1,548	)	$	123,761	$	6,965
Commercial real estate - Other	3,267		25		40,206		43,498		1,487,123		(39,944		)	1,490,677		39,066
Commercial and industrial	1,464		346		6,566		8,376		508,047		(4,374		)	512,049		5,882
Energy-related	95		382		1,392		1,869		3,652		—			5,521		1,392
Residential mortgage	85		846		5,470		6,401		407,673		(4,602		)	409,472		4,430
Consumer - Home equity	1,063		221		6,097		7,381		452,928		(10,644		)	449,665		5,643
Consumer - Indirect automobile	—		5		19		24		142		(39		)	127		19
Consumer - Other	593		116		646		1,355		95,353		(3,760		)	92,948		575
Total	$	6,567	$	2,201	$	67,361	$	76,129	$	3,073,002	$	(64,911	)	$	3,084,220	$	63,972



	December 31, 2014
	Non-covered acquired loans
	Past Due ⁽¹⁾										Discount/Premium			Total Non-covered Acquired Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
(Dollars in thousands)	30-59 days		60-89 days		> 90 days		Total		Current		Discount/Premium			Total Non-covered Acquired Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
Commercial real estate - Construction	$	2,740	$	57	$	1,284	$	4,081	$	26,667	$	(1,170	)	$	29,578	$	1,284
Commercial real estate - Other	4,419		840		26,480		31,739		473,644		(39,119		)	466,264		26,376
Commercial and industrial	2,106		70		1,624		3,800		89,338		(5,224		)	87,914		1,635
Energy-related	—		—		11		11		7,731		—			7,742		—
Residential mortgage	152		2,367		9,339		11,858		418,552		(5,831		)	424,579		8,087
Consumer - Home equity	649		385		8,774		9,808		216,310		(8,419		)	217,699		8,383
Consumer - Indirect automobile	13		17		9		39		393		(40		)	392		9
Consumer - Other	1,458		113		1,949		3,520		94,315		(4,217		)	93,618		1,829
Total	$	11,537	$	3,849	$	49,470	$	64,856	$	1,326,950	$	(64,020	)	$	1,327,786	$	47,603


⁽¹⁾	Past due information presents acquired loans at the gross loan balance, prior to application of discounts.

Schedule of Legacy Loans on Nonaccrual Status

The following table provides the recorded investment of legacy loans on non-accrual status at the periods indicated.



(Dollars in thousands)	September 30, 2015		December 31, 2014
Commercial real estate - Construction	$	180	$	69
Commercial real estate - Other	14,299		6,859
Commercial and industrial	10,776		3,025
Energy-related	3,478		27
Residential mortgage	14,879		14,362
Consumer - Home equity	5,278		7,404
Consumer - Indirect automobile	1,129		1,419
Consumer - Credit card	335		1,032
Consumer - Other	920		773
Total	$	51,274	$	34,970

Schedule of Carrying Amount of Acquired Covered Loans

The carrying amount of the acquired covered loans at September 30, 2015 and December 31, 2014 consisted of loans determined to be impaired at the acquisition date, which are accounted for in accordance with ASC Topic 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality, and loans that were considered to be performing at the acquisition date, accounted for by analogy to ASC Topic 310-30, as detailed in the following tables.



	September 30, 2015
(Dollars in thousands)	Acquired Impaired Loans		Acquired Performing Loans		Total Covered Loans
Commercial loans:
Real estate	$	18,576	$	25,014	$	43,590
Commercial and industrial	567		10,852		11,419
	19,143		35,866		55,009
Residential mortgage loans:
Residential 1-4 family	25,100		94,826		119,926
	25,100		94,826		119,926
Consumer and other loans:
Home equity	8,038		69,188		77,226
Other	20		1,360		1,380
	8,058		70,548		78,606
Total	$	52,301	$	201,240	$	253,541


	December 31, 2014
(Dollars in thousands)	Acquired Impaired Loans		Acquired Performing Loans		Total Covered Loans
Commercial loans:
Real estate	$	1,253	$	187,873	$	189,126
Commercial and industrial	—		31,260		31,260
	1,253		219,133		220,386
Residential mortgage loans:
Residential 1-4 family	22,918		105,106		128,024
	22,918		105,106		128,024
Consumer and other loans:
Home equity	12,872		79,558		92,430
Other	489		3,215		3,704
	13,361		82,773		96,134
Total	$	37,532	$	407,012	$	444,544

Schedule of Carrying Amount of Loan Acquired

The tables below show the balances acquired during the first nine months of 2015 for these two subsections of the portfolio as of the acquisition date. These amounts are subject to change due to the finalization of purchase accounting adjustments.




(Dollars in thousands)
Contractually required principal and interest at acquisition	$	2,402,890
Expected losses and foregone interest	(18,979		)
Cash flows expected to be collected at acquisition	2,383,911
Fair value of acquired loans at acquisition	$	2,130,276



(Dollars in thousands)	Acquired Impaired Loans			Acquired Performing Impaired Loans		Total Acquired Loans
Contractually required principal and interest at acquisition	$	53,532		$	—	$	53,532
Non-accretable difference (expected losses and foregone interest)	(7,852		)	—		(7,852		)
Cash flows expected to be collected at acquisition	45,680			—		45,680
Accretable yield	(4,592		)	—		(4,592		)
Basis in acquired loans at acquisition	$	41,088		$	—	$	41,088

Summary of Changes in Accretable Yields of Acquired Loans

The following is a summary of changes in the accretable difference for loans accounted for under ASC 310-30 during the nine months ended September 30:



	2015
(Dollars in thousands)	Acquired Impaired Loans			Acquired Performing Impaired Loans			Total Acquired Loans
Balance at beginning of period	$	74,249		$	213,402		$	287,651
Acquisition	4,592			—			4,592
Transfers from non-accretable difference to accretable yield	70			7,129			7,199
Accretion	(9,774		)	(50,531		)	(60,305		)
Changes in expected cash flows not affecting non-accretable differences ⁽¹⁾	1,209			(2,720		)	(1,511		)
Balance at end of period	$	70,346		$	167,280		$	237,626


	2014
	Acquired Impaired Loans			Acquired Performing Impaired Loans			Total Acquired Loans
Balance at beginning of period	$	78,349		$	276,543		$	354,892
Acquisition	8,242			1,536			9,778
Transfers from non-accretable difference to accretable yield	3,952			13,872			17,824
Accretion	(12,766		)	(66,590		)	(79,356		)
Changes in expected cash flows not affecting non-accretable differences ⁽¹⁾	(6,873		)	(19,377		)	(26,250		)
Balance at end of period	$	70,904		$	205,984		$	276,888

Schedule of Modified TDRs

The following table provides information on how the TDRs were modified during the nine months ended September 30, 2015:



(Dollars in thousands)	2015
Extended maturities	$	15,932
Maturity and interest rate adjustment	23,552
Forbearance	1,228
Other concession(s) ⁽¹⁾	7,887
Total	$	48,599

⁽¹⁾Other concessions include concessions or a combination of concessions that do not consist of maturity extensions, interest rate adjustments, forbearance or covenant modifications.

Schedule of Subsequently Defaulted TDRs

The following table presents the end of period balance for loans modified in a TDR during the nine-month period ended September 30, 2015 and the financial impact of those modifications.



	September 30, 2015
(In thousands, except number of loans)	Number of Loans	Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment (1)
Commercial real estate	8	$	26,408	$	25,572
Commercial and industrial	18	19,798		19,643
Energy-related	1	3,434		3,384
Total	27	$	49,640	$	48,599


⁽¹⁾	Recorded investment includes any allowance for credit losses recorded on the TDRs at the dates indicated.

Information detailing TDRs which defaulted during the nine months ended September 30, 2015 and 2014, and which were modified in the previous twelve months (i.e., the twelve months prior to the default) is presented in the following table. The Company has defined a default as any loan with a loan payment that is currently past due greater than 30 days, or was past due greater than 30 days at any point during the previous twelve months, or since the date of modification, whichever is shorter.



	September 30, 2015			September 30, 2014
(In thousands, except number of loans)	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Commercial real estate	4	$	12,939	31	$	58
Commercial and industrial	15	13,145		11	1,767
Energy-related	1	3,384		—	—
Consumer - Home Equity	—	—		—	—
Consumer - Other	—	—		1	—
Total	20	$	29,468	43	$	1,825