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Loans (Tables)
 3 Months Ended
Mar. 31, 2016
Receivables [Abstract]  
Schedule of Non-Covered and Covered Loans
Loans consist of the following, segregated into legacy and acquired loans, for the periods indicated:
 
 
March 31, 2016
(Dollars in thousands)
Legacy Loans
 
Acquired Loans
 
Total
Commercial loans:
 
 
 
 
 
Real estate
$
4,771,690

 
$
1,458,938

 
$
6,230,628

Commercial and industrial
2,926,686

 
447,696

 
3,374,382

       Energy-related
728,778

 
2,884

 
731,662

 
8,427,154

 
1,909,518

 
10,336,672

 
 
 
 
 
 
Residential mortgage loans:
730,621

 
477,770

 
1,208,391

 


 


 


Consumer and other loans:
 
 
 
 
 
Home equity
1,625,812

 
465,702

 
2,091,514

Indirect automobile
213,141

 
38

 
213,179

Other
531,969

 
69,519

 
601,488

 
2,370,922

 
535,259

 
2,906,181

Total
$
11,528,697

 
$
2,922,547

 
$
14,451,244


 
 
December 31, 2015
(Dollars in thousands)
Legacy Loans
 
Acquired Loans
 
Total
Commercial loans:
 
 
 
 
 
Real estate
$
4,504,062

 
$
1,569,449

 
$
6,073,511

Commercial and industrial
2,952,102

 
492,476

 
3,444,578

       Energy-related
677,177

 
3,589

 
680,766

 
8,133,341

 
2,065,514

 
10,198,855

 
 
 
 
 
 
Residential mortgage loans:
694,023

 
501,296

 
1,195,319

 
 
 
 
 
 
Consumer and other loans:
 
 
 
 
 
Home equity
1,575,643

 
490,524

 
2,066,167

Indirect automobile
246,214

 
84

 
246,298

Other
541,299

 
79,490

 
620,789

 
2,363,156

 
570,098

 
2,933,254

Total
$
11,190,520

 
$
3,136,908

 
$
14,327,428
Schedule of Aging of Non-Covered Loans
The following tables provide an analysis of the aging of loans as of March 31, 2016 and December 31, 2015. Due to the difference in accounting for acquired loans, the tables below further segregate the Company’s loans between loans originated by the Company (“legacy loans”) and acquired loans.
 
March 31, 2016
 
Legacy loans
 
 
 
 
 
 
 
 
 
 
 
Total Legacy
Loans, Net of
Unearned 
Income
 
 > 90 days and Accruing
 
Past Due (1)
 
 
 
(Dollars in thousands)
30-59 days
 
60-89 days
 
> 90 days
 
Total
 
Current
 
Commercial real estate - Construction
$
10,748

 
$
—

 
$
42

 
$
10,790

 
$
603,181

 
$
613,971

 
$
—

Commercial real estate - Other
10,875

 
859

 
13,686

 
25,420

 
4,132,299

 
4,157,719

 
21

Commercial and industrial
4,241

 
1,576

 
12,538

 
18,355

 
2,908,331

 
2,926,686

 
—

Energy-related
—

 
—

 
46,151

 
46,151

 
682,627

 
728,778

 
—

Residential mortgage
2,890

 
1,254

 
13,057

 
17,201

 
713,420

 
730,621

 
104

Consumer - Home equity
4,484

 
362

 
5,739

 
10,585

 
1,615,227

 
1,625,812

 
—

Consumer - Indirect automobile
1,918

 
264

 
1,145

 
3,327

 
209,814

 
213,141

 
—

Consumer - Credit card
209

 
56

 
468

 
733

 
75,514

 
76,247

 
—

Consumer - Other
2,220

 
498

 
728

 
3,446

 
452,276

 
455,722

 
—

Total
$
37,585

 
$
4,869

 
$
93,554

 
$
136,008

 
$
11,392,689

 
$
11,528,697

 
$
125

 
 
December 31, 2015
 
Legacy loans
 
 
 
 
 
 
 
 
 
 
 
Total Legacy
Loans, Net of
Unearned 
Income
 
 > 90 days and Accruing
 
Past Due (1)
 
 
 
 
(Dollars in thousands)
30-59 days
 
60-89 days
 
> 90 days
 
Total
 
Current
 
 
Commercial real estate - Construction
$
801

 
$
—

 
$
120

 
$
921

 
$
635,560

 
$
636,481

 
$
—

Commercial real estate - Other
2,687

 
793

 
15,517

 
18,997

 
3,848,584

 
3,867,581

 
95

Commercial and industrial
1,208

 
739

 
6,746

 
8,693

 
2,943,409

 
2,952,102

 
87

Energy-related
15

 
—

 
7,081

 
7,096

 
670,081

 
677,177

 
—

Residential mortgage
1,075

 
2,485

 
14,116

 
17,676

 
676,347

 
694,023

 
442

Consumer - Home equity
3,549

 
870

 
5,628

 
10,047

 
1,565,596

 
1,575,643

 
—

Consumer - Indirect automobile
2,187

 
518

 
1,181

 
3,886

 
242,328

 
246,214

 
—

Consumer - Credit card
394

 
113

 
394

 
901

 
76,360

 
77,261

 
—

Consumer - Other
1,923

 
752

 
769

 
3,444

 
460,594

 
464,038

 
—

Total
$
13,839

 
$
6,270

 
$
51,552

 
$
71,661

 
$
11,118,859

 
$
11,190,520

 
$
624


(1) 
Past due loans greater than 90 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.

 
March 31, 2016
 
Acquired loans
 
Past Due (1)
 
 
 
Discount/Premium
 
Total Acquired Loans,
Net of Unearned Income
 
> 90 days
and
Accruing
(Dollars in thousands)
30-59 days
 
60-89 days
 
> 90 days
 
Total
 
Current
 
 
Commercial real estate - Construction
$
602

 
$
9

 
$
6,771

 
$
7,382

 
$
104,280

 
$
14,943

 
$
126,605

 
$
6,590

Commercial real estate - Other
7,726

 
1,353

 
44,002

 
53,081

 
1,349,646

 
(70,394
)
 
1,332,333

 
42,397

Commercial and industrial
1,382

 
806

 
6,133

 
8,321

 
443,954

 
(4,579
)
 
447,696

 
5,069

Energy-related
—

 
—

 
81

 
81

 
2,803

 
—

 
2,884

 
81

Residential mortgage
766

 
—

 
21,664

 
22,430

 
486,566

 
(31,226
)
 
477,770

 
20,817

Consumer - Home equity
2,682

 
707

 
10,992

 
14,381

 
478,837

 
(27,516
)
 
465,702

 
9,725

Consumer - Indirect automobile
—

 
1

 
4

 
5

 
66

 
(33
)
 
38

 
4

Consumer - Credit Card
6

 
—

 
17

 
23

 
486

 
—

 
509

 
17

Consumer - Other
481

 
98

 
607

 
1,186

 
68,971

 
(1,147
)
 
69,010

 
411

Total
$
13,645

 
$
2,974

 
$
90,271

 
$
106,890

 
$
2,935,609

 
$
(119,952
)
 
$
2,922,547

 
$
85,111

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
Acquired loans
 
Past Due (1)
 
 
 
Discount/Premium
 
Total Acquired Loans,
Net of
Unearned Income
 
> 90 days
and
Accruing
(Dollars in thousands)
30-59 days
 
60-89 days
 
> 90 days
 
Total
 
Current
 
 
Commercial real estate - Construction
$
216

 
$
117

 
$
6,994

 
$
7,327

 
$
120,467

 
$
(2,368
)
 
$
125,426

 
$
6,994

Commercial real estate - Other
4,295

 
2,024

 
53,558

 
59,877

 
1,434,966

 
(50,820
)
 
1,444,023

 
52,067

Commercial and industrial
1,016

 
1,276

 
6,829

 
9,121

 
490,255

 
(6,900
)
 
492,476

 
5,674

Energy-related
—

 
—

 
1,368

 
1,368

 
2,221

 
—

 
3,589

 
1,198

Residential mortgage
73

 
1,806

 
22,873

 
24,752

 
506,103

 
(29,559
)
 
501,296

 
21,765

Consumer - Home equity
2,859

 
997

 
12,525

 
16,381

 
503,635

 
(29,492
)
 
490,524

 
11,234

Consumer - Indirect automobile
—

 
—

 
12

 
12

 
72

 
—

 
84

 
12

Consumer - Credit Card
—

 
—

 
17

 
17

 
565

 
—

 
582

 
17

Consumer - Other
580

 
211

 
667

 
1,458

 
79,167

 
(1,717
)
 
78,908

 
461

Total
$
9,039

 
$
6,431

 
$
104,843

 
$
120,313

 
$
3,137,451

 
$
(120,856
)
 
$
3,136,908

 
$
99,422

(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 unpaid principal balance of legacy loans on non-accrual status at the periods indicated.
 
(Dollars in thousands)
March 31, 2016
 
December 31, 2015
Commercial real estate - Construction
$
42

 
$
120

Commercial real estate - Other
13,665

 
15,422

Commercial and industrial
12,538

 
6,659

Energy-related
46,151

 
7,081

Residential mortgage
12,953

 
13,674

Consumer - Home equity
5,739

 
5,628

Consumer - Indirect automobile
1,145

 
1,181

Consumer - Credit card
468

 
394

Consumer - Other
728

 
769

Total
$
93,429

 
$
50,928
Schedule of Carrying Amount of Loan Acquired
The tables below show the balances acquired during 2015 for these two subsections of the portfolio as of the acquisition date. Purchase accounting adjustments have been finalized for Florida Bank Group and Old Florida. Amounts related to Georgia Commerce are subject to change upon finalization of purchase accounting adjustments.
(Dollars in thousands)
 
Contractually required principal and interest at acquisition
$
2,384,114

Expected losses and foregone interest
(15,539
)
Cash flows expected to be collected at acquisition
2,368,575

Fair value of acquired loans at acquisition
$
2,105,466

 
(Dollars in thousands)
Acquired
Impaired
Loans
Contractually required principal and interest at acquisition
$
76,445

Non-accretable difference (expected losses and foregone interest)
(11,867
)
Cash flows expected to be collected at acquisition
64,578

Accretable yield
(6,823
)
Basis in acquired loans at acquisition
$
57,755
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 three months ended March 31:
(Dollars in thousands)
2016
 
2015
Balance at beginning of period
$
227,502

 
$
287,651

Acquisition
—

 
2,032

Transfers from non-accretable difference to accretable yield
2,106

 
(1
)
Accretion
(18,412
)
 
(22,818
)
Changes in expected cash flows not affecting non-accretable differences (1)
8,688

 
(1,915
)
Balance at end of period
$
219,884

 
$
264,949
Schedule of Modified TDRs
The following table provides information on how the TDRs were modified during the three months ended March 31, 2016 and 2015:
(Dollars in thousands)
2016
 
2015
Extended maturities
$
3,061

 
$
—

Maturity and interest rate adjustment
253

 
14,812

Forbearance
5,296

 
—

Other concession(s) (1)
36,172

 
—

Total
$
44,782

 
$
14,812

(1) Other concessions may include covenant waivers, forgiveness of principal or interest associated with a customer bankruptcy, or a combination of any of the above concessions.
Schedule of Subsequently Defaulted TDRs
The following table presents the end of period balance for loans modified in a TDR during the three-month periods ended March 31, 2016 and 2015.
 
March 31, 2016
 
March 31, 2015
(In thousands, except number of loans)
Number of Loans
 
Pre-modification Outstanding Recorded Investment
 
Post-modification Outstanding Recorded Investment (1)
 
Number of Loans
 
Pre-modification Outstanding Recorded Investment
 
Post-modification Outstanding Recorded Investment (1)
Commercial real estate
9


$
1,228

 
$
1,228

 
1

 
$
1,935

 
$
1,743

Commercial and industrial
14

 
4,927

 
4,737

 
6

 
13,162

 
13,069

Energy-related
9

 
33,925

 
33,925

 
—

 
—

 
—

Residential mortgage
15

 
3,295

 
3,219

 
—

 
—

 
—

Consumer - Home Equity
22

 
1,372

 
1,316

 
—

 
—

 
—

Consumer - Other
25

 
442

 
357

 
—

 
—

 
—

Total
94

 
$
45,189

 
$
44,782

 
7

 
$
15,097

 
$
14,812


(1) 
Recorded investment includes any allowance for credit losses recorded on the TDRs at the dates indicated.
Information detailing TDRs which defaulted during the three-month periods ended March 31, 2016 and 2015, and 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.
 
 
March 31, 2016
 
March 31, 2015
(In thousands, except number of loans)
Number of
Loans
 
Recorded
Investment
 
Number of
Loans
 
Recorded
Investment
Commercial real estate
9

 
$
1,228

 
31

 
$
—

Commercial and industrial
9

 
1,627

 
9

 
372

Energy-related
1

 
2,250

 
—

 
—

Residential mortgage
15

 
3,218

 
—

 
—

Consumer - Home Equity
10

 
595

 
—

 
—

Consumer - Other
7

 
170

 
1

 
—

Total
51

 
$
9,088

 
41

 
$
372