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Loans and Leases | 12 Months Ended
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Dec. 31, 2013
Loans and Leases Receivable Disclosure [Abstract] |
Loans and Leases | LOANS AND LEASES Loans and leases outstanding include the following as of the dates indicated:
| December 31, 2013 |  | December 31, 2012
| (dollars in thousands)
Acquired loans |  |  |
Commercial: |  |  |
Construction and land development | $ | 78,915 |  |  | $ | 237,906 |
Commercial mortgage | 642,891 |  |  | 1,054,473 |
Other commercial real estate | 41,381 |  |  | 107,119 |
Commercial and industrial | 17,254 |  |  | 49,463 |
Other | 866 |  |  | 1,074 |
Total commercial loans | 781,307 |  |  | 1,450,035 |
Noncommercial: |  |  |
Residential mortgage | 213,851 |  |  | 297,926 |
Revolving mortgage | 30,834 |  |  | 38,710 |
Construction and land development | 2,583 |  |  | 20,793 |
Consumer | 851 |  |  | 1,771 |
Total noncommercial loans | 248,119 |  |  | 359,200 |
Total acquired loans | 1,029,426 |  |  | 1,809,235 |
Originated loans and leases: |  |  |
Commercial: |  |  |
Construction and land development | 319,847 |  |  | 309,190 |
Commercial mortgage | 6,362,490 |  |  | 6,029,435 |
Other commercial real estate | 178,754 |  |  | 160,980 |
Commercial and industrial | 1,081,158 |  |  | 1,038,530 |
Lease financing | 381,763 |  |  | 330,679 |
Other | 175,336 |  |  | 125,681 |
Total commercial loans | 8,499,348 |  |  | 7,994,495 |
Noncommercial: |  |  |
Residential mortgage | 982,421 |  |  | 822,889 |
Revolving mortgage | 2,113,285 |  |  | 2,210,133 |
Construction and land development | 122,792 |  |  | 131,992 |
Consumer | 386,452 |  |  | 416,606 |
Total noncommercial loans | 3,604,950 |  |  | 3,581,620 |
Total originated loans and leases | 12,104,298 |  |  | 11,576,115 |
Total loans and leases | $ | 13,133,724 |  |  | $ | 13,385,350 |
At December 31, 2013, $2.56 billion in originated loans were pledged to secure debt obligations, compared to $2.57 billion at December 31, 2012. Credit quality indicators Loans and leases are monitored for credit quality on a recurring basis. The credit quality indicators used are dependent on the portfolio segment to which the loan relates. Originated commercial loans and leases, originated noncommercial loans and leases and acquired loans have different credit quality indicators as a result of the methods used to monitor each of these loan segments. The credit quality indicators for originated commercial loans and leases and all acquired loans and leases are developed through review of individual borrowers on an ongoing basis. Each borrower is evaluated at least annually with more frequent evaluation of more severely criticized loans or leases. The indicators represent the rating for loans or leases as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows: Pass – A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification. Special mention – A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification. Substandard – A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected. Doubtful – An asset classified as doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions and values. Loss – Assets classified as loss are considered uncollectible and of such little value that it is inappropriate to be carried as an asset. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full charge-off even though partial recovery may be effected in the future. Ungraded – Ungraded loans represent loans that are not included in the individual credit grading process due to their relatively small balances or borrower type. The majority of originated, ungraded loans at December 31, 2013, relate to business credit cards and tobacco buyout loans classified as commercial and industrial loans. Business credit card loans with an outstanding balance of $72.4 million at December 31, 2013, are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit. Tobacco buyout loans with an outstanding balance of $22.1 million at December 31, 2013, are secured by assignments of receivables made pursuant to the Fair and Equitable Tobacco Reform Act of 2004. The credit risk associated with these loans is considered low as the payments that began in 2005 and continue through 2014 are made by the Commodity Credit Corporation, which is part of the United States Department of Agriculture. Final payment from the Commodity Credit Corporation was received during January 2014. The credit quality indicators for originated, noncommercial loans are based on the delinquency status of the borrower. As the borrower becomes more delinquent, the likelihood of loss increases. The composition of the loans and leases outstanding at December 31, 2013, and December 31, 2012, by credit quality indicator is provided below:
| Originated commercial loans and leases
Grade: | Construction and land development |  | Commercial mortgage |  | Other commercial real estate |  | Commercial and industrial |  | Lease financing |  | Other |  | Total originated commercial loans and leases
| (dollars in thousands)
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 308,231 |  |  | $ | 6,094,505 |  |  | $ | 174,913 |  |  | $ | 964,840 |  |  | $ | 375,371 |  |  | $ | 174,314 |  |  | $ | 8,092,174 |
Special mention | 8,620 |  |  | 119,515 |  |  | 1,362 |  |  | 14,686 |  |  | 2,160 |  |  | 982 |  |  | 147,325 |
Substandard | 2,944 |  |  | 141,913 |  |  | 2,216 |  |  | 6,352 |  |  | 3,491 |  |  | 40 |  |  | 156,956 |
Doubtful | 52 |  |  | 5,159 |  |  | 75 |  |  | 144 |  |  | 592 |  |  | — |  |  | 6,022 |
Ungraded | — |  |  | 1,398 |  |  | 188 |  |  | 95,136 |  |  | 149 |  |  | — |  |  | 96,871 |
Total | $ | 319,847 |  |  | $ | 6,362,490 |  |  | $ | 178,754 |  |  | $ | 1,081,158 |  |  | $ | 381,763 |  |  | $ | 175,336 |  |  | $ | 8,499,348 |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 274,480 |  |  | $ | 5,688,541 |  |  | $ | 151,549 |  |  | $ | 894,998 |  |  | $ | 325,626 |  |  | $ | 124,083 |  |  | $ | 7,459,277 |
Special mention | 14,666 |  |  | 166,882 |  |  | 2,812 |  |  | 13,275 |  |  | 1,601 |  |  | 837 |  |  | 200,073 |
Substandard | 18,761 |  |  | 157,966 |  |  | 5,038 |  |  | 12,073 |  |  | 1,663 |  |  | 756 |  |  | 196,257 |
Doubtful | 952 |  |  | 13,475 |  |  | 98 |  |  | 1,040 |  |  | 771 |  |  | — |  |  | 16,336 |
Ungraded | 331 |  |  | 2,571 |  |  | 1,483 |  |  | 117,144 |  |  | 1,018 |  |  | 5 |  |  | 122,552 |
Total | $ | 309,190 |  |  | $ | 6,029,435 |  |  | $ | 160,980 |  |  | $ | 1,038,530 |  |  | $ | 330,679 |  |  | $ | 125,681 |  |  | $ | 7,994,495 |
| Originated noncommercial loans and leases
| Residential mortgage |  | Revolving mortgage |  | Construction and land development |  | Consumer |  | Total originated noncommercial loans
| (dollars in thousands)
December 31, 2013 |  |  |  |  |  |  |  |  |
Current | $ | 955,300 |  |  | $ | 2,095,480 |  |  | $ | 121,026 |  |  | $ | 382,710 |  |  | $ | 3,554,516 |
30-59 days past due | 12,885 |  |  | 10,977 |  |  | 1,193 |  |  | 2,114 |  |  | 27,169 |
60-89 days past due | 4,658 |  |  | 2,378 |  |  | 317 |  |  | 955 |  |  | 8,308 |
90 days or greater past due | 9,578 |  |  | 4,450 |  |  | 256 |  |  | 673 |  |  | 14,957 |
Total | $ | 982,421 |  |  | $ | 2,113,285 |  |  | $ | 122,792 |  |  | $ | 386,452 |  |  | $ | 3,604,950 |
December 31, 2012 |  |  |  |  |  |  |  |  |
Current | $ | 786,626 |  |  | $ | 2,190,186 |  |  | $ | 128,764 |  |  | 409,218 |  |  | $ | 3,514,794 |
30-59 days past due | 15,711 |  |  | 12,868 |  |  | 1,941 |  |  | 4,405 |  |  | 34,925 |
60-89 days past due | 7,559 |  |  | 3,200 |  |  | 490 |  |  | 1,705 |  |  | 12,954 |
90 days or greater past due | 12,993 |  |  | 3,879 |  |  | 797 |  |  | 1,278 |  |  | 18,947 |
Total | $ | 822,889 |  |  | $ | 2,210,133 |  |  | $ | 131,992 |  |  | $ | 416,606 |  |  | $ | 3,581,620 |
| Acquired loans
Grade: | Construction and land development - commercial |  | Commercial mortgage |  | Other commercial real estate |  | Commercial and industrial |  | Residential mortgage |  | Revolving mortgage |  | Construction and land development - noncommercial |  | Consumer and other |  | Total acquired loans
| (dollars in thousands)
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 2,619 |  |  | $ | 296,824 |  |  | $ | 22,225 |  |  | $ | 8,021 |  |  | $ | 135,326 |  |  | $ | 26,322 |  |  | $ | 149 |  |  | $ | 1,345 |  |  | $ | 492,831 |
Special mention | 15,530 |  |  | 125,295 |  |  | 3,431 |  |  | 2,585 |  |  | 6,301 |  |  | 2,608 |  |  | — |  |  | — |  |  | 155,750 |
Substandard | 52,228 |  |  | 179,657 |  |  | 7,012 |  |  | 5,225 |  |  | 52,774 |  |  | 1,013 |  |  | 2,139 |  |  | — |  |  | 300,048 |
Doubtful | 7,436 |  |  | 40,471 |  |  | 8,713 |  |  | 1,257 |  |  | 2,058 |  |  | 891 |  |  | 295 |  |  | — |  |  | 61,121 |
Ungraded | 1,102 |  |  | 644 |  |  | — |  |  | 166 |  |  | 17,392 |  |  | — |  |  | — |  |  | 372 |  |  | 19,676 |
Total | $ | 78,915 |  |  | $ | 642,891 |  |  | $ | 41,381 |  |  | $ | 17,254 |  |  | $ | 213,851 |  |  | $ | 30,834 |  |  | $ | 2,583 |  |  | $ | 1,717 |  |  | $ | 1,029,426 |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 17,010 |  |  | $ | 376,974 |  |  | $ | 33,570 |  |  | $ | 19,451 |  |  | $ | 172,165 |  |  | $ | 29,540 |  |  | $ | 334 |  |  | $ | 1,617 |  |  | $ | 650,661 |
Special mention | 25,734 |  |  | 259,264 |  |  | 17,518 |  |  | 12,465 |  |  | 14,863 |  |  | 1,736 |  |  | — |  |  | 34 |  |  | 331,614 |
Substandard | 105,061 |  |  | 344,542 |  |  | 44,335 |  |  | 14,698 |  |  | 83,193 |  |  | 7,434 |  |  | 17,190 |  |  | 239 |  |  | 616,692 |
Doubtful | 87,445 |  |  | 73,016 |  |  | 11,696 |  |  | 2,757 |  |  | 4,268 |  |  | — |  |  | 3,269 |  |  | 117 |  |  | 182,568 |
Ungraded | 2,656 |  |  | 677 |  |  | — |  |  | 92 |  |  | 23,437 |  |  | — |  |  | — |  |  | 838 |  |  | 27,700 |
Total | $ | 237,906 |  |  | $ | 1,054,473 |  |  | $ | 107,119 |  |  | $ | 49,463 |  |  | $ | 297,926 |  |  | $ | 38,710 |  |  | $ | 20,793 |  |  | $ | 2,845 |  |  | $ | 1,809,235 |
The aging of the outstanding loans and leases, by class, at December 31, 2013, and December 31, 2012, (excluding loans and leases acquired with deteriorated credit quality) is provided in the table below. The calculation of days past due begins on the day after payment is due and includes all days through which all required interest or principal has not been paid. Loans and leases 30 days or less past due are considered current due to various grace periods that allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement.
| 30-59 days past due |  | 60-89 days past due |  | 90 days or greater |  | Total past due |  | Current |  | Total loans and leases
| (dollars in thousands)
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |
Originated loans and leases: |  |  |  |  |  |  |  |  |  |  |
Construction and land development - commercial | $ | 1,603 |  |  | $ | 9 |  |  | $ | 457 |  |  | $ | 2,069 |  |  | $ | 317,778 |  |  | $ | 319,847 |
Commercial mortgage | 11,131 |  |  | 3,601 |  |  | 14,407 |  |  | 29,139 |  |  | 6,333,351 |  |  | 6,362,490 |
Other commercial real estate | 139 |  |  | 210 |  |  | 470 |  |  | 819 |  |  | 177,935 |  |  | 178,754 |
Commercial and industrial | 3,336 |  |  | 682 |  |  | 436 |  |  | 4,454 |  |  | 1,076,704 |  |  | 1,081,158 |
Lease financing | 789 |  |  | 1,341 |  |  | 101 |  |  | 2,231 |  |  | 379,532 |  |  | 381,763 |
Other | — |  |  | 85 |  |  | — |  |  | 85 |  |  | 175,251 |  |  | 175,336 |
Residential mortgage | 12,885 |  |  | 4,658 |  |  | 9,578 |  |  | 27,121 |  |  | 955,300 |  |  | 982,421 |
Revolving mortgage | 10,977 |  |  | 2,378 |  |  | 4,450 |  |  | 17,805 |  |  | 2,095,480 |  |  | 2,113,285 |
Construction and land development - noncommercial | 1,193 |  |  | 317 |  |  | 256 |  |  | 1,766 |  |  | 121,026 |  |  | 122,792 |
Consumer | 2,114 |  |  | 955 |  |  | 673 |  |  | 3,742 |  |  | 382,710 |  |  | 386,452 |
Total originated loans and leases | $ | 44,167 |  |  | $ | 14,236 |  |  | $ | 30,828 |  |  | $ | 89,231 |  |  | $ | 12,015,067 |  |  | $ | 12,104,298 |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |
Originated loans and leases: |  |  |  |  |  |  |  |  |  |  |
Construction and land development - commercial | $ | 927 |  |  | $ | — |  |  | $ | 7,878 |  |  | $ | 8,805 |  |  | $ | 300,385 |  |  | $ | 309,190 |
Commercial mortgage | 24,447 |  |  | 4,179 |  |  | 21,327 |  |  | 49,953 |  |  | 5,979,482 |  |  | 6,029,435 |
Other commercial real estate | 387 |  |  | 1,240 |  |  | 1,034 |  |  | 2,661 |  |  | 158,319 |  |  | 160,980 |
Commercial and industrial | 2,833 |  |  | 1,096 |  |  | 605 |  |  | 4,534 |  |  | 1,033,996 |  |  | 1,038,530 |
Lease financing | 991 |  |  | 138 |  |  | 621 |  |  | 1,750 |  |  | 328,929 |  |  | 330,679 |
Other | 18 |  |  | 13 |  |  | — |  |  | 31 |  |  | 125,650 |  |  | 125,681 |
Residential mortgage | 15,711 |  |  | 7,559 |  |  | 12,993 |  |  | 36,263 |  |  | 786,626 |  |  | 822,889 |
Revolving mortgage | 12,868 |  |  | 3,200 |  |  | 3,879 |  |  | 19,947 |  |  | 2,190,186 |  |  | 2,210,133 |
Construction and land development - noncommercial | 1,941 |  |  | 490 |  |  | 797 |  |  | 3,228 |  |  | 128,764 |  |  | 131,992 |
Consumer | 4,405 |  |  | 1,705 |  |  | 1,278 |  |  | 7,388 |  |  | 409,218 |  |  | 416,606 |
Total originated loans and leases | $ | 64,528 |  |  | $ | 19,620 |  |  | $ | 50,412 |  |  | $ | 134,560 |  |  | $ | 11,441,555 |  |  | $ | 11,576,115 |
The recorded investment, by class, in loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at December 31, 2013, and December 31, 2012, (excluding loans and leases acquired with deteriorated credit quality) are as follows:
| December 31, 2013 |  | December 31, 2012
| Nonaccrual loans and leases |  | Loans and leases > 90 days and accruing |  | Nonaccrual loans and leases |  | Loans and leases > 90 days and accruing
| (dollars in thousands)
Originated loans and leases: |  |  |  |  |  |  |
Construction and land development - commercial | $ | 544 |  |  | $ | — |  |  | $ | 14,930 |  |  | $ | 541 |
Commercial mortgage | 33,529 |  |  | 1,113 |  |  | 50,532 |  |  | 1,671 |
Commercial and industrial | 1,428 |  |  | 294 |  |  | 6,972 |  |  | 466 |
Lease financing | 832 |  |  | — |  |  | 1,075 |  |  | — |
Other commercial real estate | 1,610 |  |  | — |  |  | 2,319 |  |  | — |
Construction and land development - noncommercial | 457 |  |  | 256 |  |  | 668 |  |  | 111 |
Residential mortgage | 14,701 |  |  | 1,998 |  |  | 12,603 |  |  | 3,337 |
Revolving mortgage | — |  |  | 4,450 |  |  | — |  |  | 3,877 |
Consumer | 69 |  |  | 673 |  |  | 746 |  |  | 1,269 |
Total originated loans and leases | $ | 53,170 |  |  | $ | 8,784 |  |  | $ | 89,845 |  |  | $ | 11,272 |
Acquired Loans The following table provides changes in the carrying value of acquired loans during the years ended December 31, 2013, and December 31, 2012:
| 2013 |  | 2012
| (dollars in thousands)
Balance at January 1 | $ | 1,809,235 |  |  | $ | 2,362,152 |
Reductions for repayments, foreclosures and decreases in fair value | (779,809 | ) |  | (552,917 | )
Balance at December 31 | $ | 1,029,426 |  |  | $ | 1,809,235 |
Outstanding principal balance at December 31 | $ | 1,833,955 |  |  | $ | 3,281,958 |
The carrying value of loans on the cost recovery method was $28.5 million at December 31, 2013, and $74.5 million at December 31, 2012. The cost recovery method is applied to loans when the timing of future cash flows is not reasonably estimable due to borrower nonperformance or uncertainty in the ultimate disposition of the asset. For acquired loans, improved cash flow estimates and receipt of unscheduled loan payments result in the reclassification of nonaccretable difference to accretable yield. Accretable yield resulting from the improved ability to estimate future cash flows generally does not represent amounts previously identified as nonaccretable difference. The following table documents changes to the amount of accretable yield for 2013 and 2012. Removals represent a reduction to the accretable yield as a result of loans that were fully charged off or paid off during the period.
| 2013 |  | 2012
| (dollars in thousands)
Balance at January 1 | $ | 539,564 |  |  | $ | 276,690 |
Accretion | (224,672 | ) |  | (304,023 | )
Reclassifications from nonaccretable difference | 92,349 |  |  | 353,708 |
Changes in expected cash flows that do not affect nonaccretable difference | 32,749 |  |  | 213,189 |
Balance at December 31 | $ | 439,990 |  |  | $ | 539,564 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5074-111524 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5066-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5162-111524 + Details
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