XML 37 R25.htm IDEA: XBRL DOCUMENT

Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2019

Financing Receivable, Modifications [Line Items]

Loans and leases, net of unearned income are summarized as follows:



	March 31, 2019			December 31, 2018
	(in thousands)
Real-estate - commercial mortgage	$	6,428,688		$	6,434,285
Commercial - industrial, financial and agricultural	4,429,538			4,404,548
Real estate - residential mortgage	2,313,908			2,251,044
Real estate - home equity	1,413,500			1,452,137
Real estate - construction	953,087			916,599
Consumer	433,545			419,186
Equipment lease financing and other	315,934			311,866
Overdrafts	1,739			2,774
Loans and leases, gross of unearned income	16,289,939			16,192,439
Unearned income	(27,306		)	(26,639		)
Loans and leases, net of unearned income	$	16,262,633		$	16,165,800

Schedule of Allowance for Credit Losses

The following table presents the components of the allowance for credit losses:



	March 31, 2019		December 31, 2018
	(in thousands)
Allowance for loan and lease losses	$	162,109	$	160,537
Reserve for unfunded lending commitments	8,263		8,873
Allowance for credit losses	$	170,372	$	169,410

Activity in the Allowance for Credit Losses

The following table presents the activity in the allowance for credit losses:



	Three months ended March 31
	2019			2018
	(in thousands)
Balance at beginning of period	$	169,410		$	176,084
Loans and leases charged off	(6,369		)	(6,397		)
Recoveries of loans and leases previously charged off	2,231			2,362
Net loans and leases charged off	(4,138		)	(4,035		)
Provision for credit losses	5,100			3,970
Balance at end of period	$	170,372		$	176,019

The following table presents the activity in the allowance for loan and lease losses by portfolio segment:



	Real Estate - Commercial Mortgage			Commercial - Industrial, Financial and Agricultural			Real Estate - Home Equity			Real Estate - Residential Mortgage			Real Estate - Construction			Consumer			Equipment lease financing, other and overdrafts			Total
	(in thousands)
Three months ended March 31, 2019
Balance at December 31, 2018	$	52,889		$	58,868		$	18,911		$	18,921		$	5,061		$	3,217		$	2,670		$	160,537
Loans and leases charged off	(1,145		)	(2,787		)	(219		)	(655		)	(95		)	(683		)	(785		)	(6,369		)
Recoveries of loans and leases previously charged off	136			1,243			197			132			84			210			229			2,231
Net loans and leases charged off	(1,009		)	(1,544		)	(22		)	(523		)	(11		)	(473		)	(556		)	(4,138		)
Provision for loan and lease losses ⁽¹⁾	66			3,177			326			748			(109		)	575			927			5,710
Balance at March 31, 2019	$	51,946		$	60,501		$	19,215		$	19,146		$	4,941		$	3,319		$	3,041		$	162,109
Three months ended March 31, 2018
Balance at December 31, 2017	$	58,793		$	66,280		$	18,127		$	16,088		$	6,620		$	2,045		$	1,957		$	169,910
Loans and leases charged off	(267		)	(4,005		)	(408		)	(162		)	(158		)	(892		)	(505		)	(6,397		)
Recoveries of loans and leases previously charged off	279			1,075			206			107			306			179			210			2,362
Net loans and leases charged off	12			(2,930		)	(202		)	(55		)	148			(713		)	(295		)	(4,035		)
Provision for loan and lease losses ⁽¹⁾	(88		)	(1,520		)	(397		)	(772		)	(844		)	571			392			(2,658		)
Balance at March 31, 2018	$	58,717		$	61,830		$	17,528		$	15,261		$	5,924		$	1,903		$	2,054		$	163,217


(1)	The provision for loan and lease losses excluded a $610,000 decrease in the reserve for unfunded lending commitments for the three months ended March 31, 2019 and a $6.6 million increase in the reserve for unfunded lending commitments for the three months ended March 31, 2018. These amounts were reclassified to other liabilities on the consolidated balance sheets.

The following table presents loans and leases, net of unearned income and their related allowance for loan and lease losses, by portfolio segment:



	Real Estate - Commercial Mortgage		Commercial - Industrial, Financial and Agricultural		Real Estate - Home Equity		Real Estate - Residential Mortgage		Real Estate - Construction		Consumer		Equipment lease financing, other and overdrafts		Total
	(in thousands)
Allowance for loan and lease losses at March 31, 2019:
Collectively evaluated for impairment	$	45,736	$	48,266	$	8,619	$	9,560	$	4,390	$	3,312	$	3,041	$	122,924
Loans individually evaluated for impairment	6,210		12,235		10,596		9,586		551		7		—		39,185
	$	51,946	$	60,501	$	19,215	$	19,146	$	4,941	$	3,319	$	3,041	$	162,109

Loans and leases, net of unearned income at March 31, 2019:
Collectively evaluated for impairment	$	6,384,048	$	4,373,677	$	1,389,670	$	2,274,330	$	946,436	$	433,534	$	271,854	$	16,073,549
Individually evaluated for impairment	44,640		55,861		23,830		39,578		6,651		11		18,513		189,084
	$	6,428,688	$	4,429,538	$	1,413,500	$	2,313,908	$	953,087	$	433,545	$	290,367	$	16,262,633

Allowance for loan and lease losses at March 31, 2018:
Collectively evaluated for impairment	$	50,392	$	51,314	$	6,440	$	5,610	$	5,245	$	1,887	$	2,054	$	122,942
Individually evaluated for impairment	8,325		10,516		11,088		9,651		679		16		—		40,275
	$	58,717	$	61,830	$	17,528	$	15,261	$	5,924	$	1,903	$	2,054	$	163,217

Loans and leases, net of unearned income at March 31, 2018:
Collectively evaluated for impairment	$	6,279,144	$	4,234,362	$	1,489,429	$	1,935,587	$	965,398	$	326,742	$	271,042	$	15,501,704
Individually evaluated for impairment	53,364		64,710		24,812		40,937		10,733		24		—		194,580
	$	6,332,508	$	4,299,072	$	1,514,241	$	1,976,524	$	976,131	$	326,766	$	271,042	$	15,696,284

Total Impaired Loans by Class Segment

The following table presents total impaired loans and leases by class segment:



	March 31, 2019						December 31, 2018
	Unpaid Principal Balance		Recorded Investment		Related Allowance		Unpaid Principal Balance		Recorded Investment		Related Allowance
	(in thousands)
With no related allowance recorded:
Real estate - commercial mortgage	$	27,178	$	24,902	$	—	$	25,095	$	23,481	$	—
Commercial	33,660		26,887		—		33,493		26,585		—
Real estate - residential mortgage	3,127		3,127		—		3,149		3,149		—
Construction	8,922		5,024		—		8,980		5,083		—
Equipment lease financing	19,269		18,513		—		19,269		19,268		—
	92,156		78,453		—		89,986		77,566		—
With a related allowance recorded:
Real estate - commercial mortgage	26,014		19,738		6,210		29,005		22,592		7,255
Commercial	38,234		28,974		12,235		37,706		28,708		12,513
Real estate - residential mortgage	41,076		36,451		9,586		39,972		35,621		9,394
Real estate - home equity	26,972		23,830		10,596		26,599		23,373		10,370
Construction	5,259		1,627		551		5,984		2,307		793
Consumer	12		11		7		11		11		7
	137,567		110,631		39,185		139,277		112,612		40,332
Total	$	229,723	$	189,084	$	39,185	$	229,263	$	190,178	$	40,332

As of March 31, 2019 and December 31, 2018, there were $78.5 million and $77.6 million, respectively, of impaired loans and leases that did not have a related allowance for loan and lease loss. The estimated fair values of the collateral securing these loans and leases exceeded their carrying amount, or the loans and leases were previously charged down to realizable collateral values. Accordingly, no specific valuation allowance was considered to be necessary.

The following table presents average impaired loans and leases by class segment:



	Three months ended March 31
	2019				2018
	Average Recorded Investment		Interest Income ⁽¹⁾		Average Recorded Investment		Interest Income ⁽¹⁾
	(in thousands)
With no related allowance recorded:
Real estate - commercial mortgage	$	24,192	$	97	$	25,353	$	83
Commercial	26,736		30		40,038		73
Real estate - residential mortgage	3,138		20		4,561		27
Construction	5,054		—		7,971		—
Equipment lease financing, other and overdrafts	18,891		—		—		—
	78,011		147		77,923		183
With a related allowance recorded:
Real estate - commercial mortgage	21,166		85		25,720		84
Commercial	28,842		33		24,181		44
Real estate - home equity	23,601		223		24,752		184
Real estate - residential mortgage	36,036		225		36,761		221
Construction	1,967		—		3,495		—
Consumer	11		—		25		—
	111,623		566		114,934		533
Total	$	189,634	$	713	$	192,857	$	716


(1)	All impaired loans, excluding accruing TDRs, were non-accrual loans. Interest income recognized for the three months ended March 31, 2019 and 2018 represents amounts earned on accruing TDRs.

Financing Receivable Credit Quality Indicators

The following table presents a summary of performing, delinquent and non-performing loans and leases for the indicated class segments:



	Performing						Delinquent ⁽¹⁾						Non-performing ⁽²⁾						Total
	March 31, 2019			December 31, 2018			March 31, 2019			December 31, 2018			March 31, 2019			December 31, 2018			March 31, 2019			December 31, 2018
	(dollars in thousands)
Real estate - home equity	$	1,391,323		$	1,431,666		$	11,682		$	10,702		$	10,495		$	9,769		$	1,413,500		$	1,452,137
Real estate - residential mortgage	2,270,802			2,202,955			20,807			28,988			22,299			19,101			2,313,908			2,251,044
Construction - other	76,628			71,511			140			—			198			490			76,966			72,001
Consumer - direct	53,283			55,629			251			338			104			66			53,638			56,033
Consumer - indirect	376,538			359,405			3,198			3,405			171			343			379,907			363,153
Total consumer	429,821			415,034			3,449			3,743			275			409			433,545			419,186
Equipment lease financing, other and overdrafts	270,165			267,112			1,594			1,302			18,608			19,587			290,367			288,001
	$	4,438,739		$	4,388,278		$	37,672		$	44,735		$	51,875		$	49,356		$	4,528,286		$	4,482,369
% of Total	98.0		%	97.9		%	0.8		%	1.0		%	1.2		%	1.1		%	100.0		%	100.0		%


(1)	Includes all accruing loans and leases 30 days to 89 days past due.

(2)

Includes all accruing loans and leases 90 days or more past due and all non-accrual loans and leases.The following table presents internal credit risk ratings for the indicated loan class segments:



	Pass						Special Mention						Substandard or Lower						Total
	March 31, 2019			December 31, 2018			March 31, 2019			December 31, 2018			March 31, 2019			December 31, 2018			March 31, 2019			December 31, 2018
	(dollars in thousands)
Real estate - commercial mortgage	$	6,123,827		$	6,129,463		$	158,447		$	170,827		$	146,414		$	133,995		$	6,428,688		$	6,434,285
Commercial - secured	3,920,866			3,902,484			191,025			193,470			147,483			129,026			4,259,374			4,224,980
Commercial - unsecured	162,883			171,589			4,290			4,016			2,991			3,963			170,164			179,568
Total commercial - industrial, financial and agricultural	4,083,749			4,074,073			195,315			197,486			150,474			132,989			4,429,538			4,404,548
Construction - commercial residential	117,155			104,079			6,310			6,912			6,401			6,881			129,866			117,872
Construction - commercial	742,160			723,030			851			1,163			3,244			2,533			746,255			726,726
Total construction (excluding Construction - other)	859,315			827,109			7,161			8,075			9,645			9,414			876,121			844,598
	$	11,066,891		$	11,030,645		$	360,923		$	376,388		$	306,533		$	276,398		$	11,734,347		$	11,683,431
% of Total	94.3		%	94.4		%	3.1		%	3.2		%	2.6		%	2.4		%	100.0		%	100.0		%

Non-Performing Assets

The following table presents non-performing assets:



	March 31, 2019		December 31, 2018
	(in thousands)
Non-accrual loans and leases	$	127,141	$	128,572
Loans and leases 90 days or more past due and still accruing	11,540		11,106
Total non-performing loans and leases	138,681		139,678
Other real estate owned (OREO)	9,012		10,518
Total non-performing assets	$	147,693	$	150,196

Past due Loan Status and Non-Accrual Loans by Portfolio Segment

The following tables present past due status and non-accrual loans and leases by portfolio segment and class segment:



	March 31, 2019
	30-59 Days Past Due		60-89 Days Past Due		≥ 90 Days Past Due and Accruing		Non- accrual		Total ≥ 90 Days		Total Past Due		Current		Total
	(in thousands)
Real estate - commercial mortgage	$	14,598	$	1,741	$	478	$	29,339	$	29,817	$	46,156	$	6,382,532	$	6,428,688
Commercial - secured	3,719		2,506		46		49,267		49,313		55,538		4,203,836		4,259,374
Commercial - unsecured	302		196		—		835		835		1,333		168,831		170,164
Total commercial - industrial, financial and agricultural	4,021		2,702		46		50,102		50,148		56,871		4,372,667		4,429,538
Real estate - home equity	8,980		2,702		3,452		7,043		10,495		22,177		1,391,323		1,413,500
Real estate - residential mortgage	15,796		5,011		6,806		15,493		22,299		43,106		2,270,802		2,313,908
Construction - commercial residential	148		—		388		6,401		6,789		6,937		122,929		129,866
Construction - commercial	—		—		—		52		52		52		746,203		746,255
Construction - other	140		—		—		198		198		338		76,628		76,966
Total real estate - construction	288		—		388		6,651		7,039		7,327		945,760		953,087
Consumer - direct	135		116		104		—		104		355		53,283		53,638
Consumer - indirect	2,568		630		171		—		171		3,369		376,538		379,907
Total consumer	2,703		746		275		—		275		3,724		429,821		433,545
Equipment lease financing, other and overdrafts	1,268		326		95		18,513		18,608		20,202		270,165		290,367
Total	$	47,654	$	13,228	$	11,540	$	127,141	$	138,681	$	199,563	$	16,063,070	$	16,262,633



	December 31, 2018
	30-59 Days Past Due		60-89 Days Past Due		≥ 90 Days Past Due and Accruing		Non- accrual		Total ≥ 90 Days		Total Past Due		Current		Total
	(in thousands)
Real estate - commercial mortgage	$	12,206	$	1,500	$	1,765	$	30,388	$	32,153	$	45,859	$	6,388,426	$	6,434,285
Commercial - secured	5,227		938		1,068		49,299		50,367		56,532		4,168,448		4,224,980
Commercial - unsecured	1,598		—		51		851		902		2,500		177,068		179,568
Total commercial - industrial, financial and agricultural	6,825		938		1,119		50,150		51,269		59,032		4,345,516		4,404,548
Real estate - home equity	7,144		3,558		3,061		6,708		9,769		20,471		1,431,666		1,452,137
Real estate - residential mortgage	20,796		8,192		4,433		14,668		19,101		48,089		2,202,955		2,251,044
Construction - commercial residential	2,489		—		—		6,881		6,881		9,370		108,502		117,872
Construction - commercial	—		—		—		19		19		19		726,707		726,726
Construction - other	—		—		—		490		490		490		71,511		72,001
Total real estate - construction	2,489		—		—		7,390		7,390		9,879		906,720		916,599
Consumer - direct	267		71		66		—		66		404		55,629		56,033
Consumer - indirect	2,908		497		343		—		343		3,748		359,405		363,153
Total consumer	3,175		568		409		—		409		4,152		415,034		419,186
Equipment lease financing, other and overdrafts	1,005		297		319		19,268		19,587		20,889		267,112		288,001
Total	$	53,640	$	15,053	$	11,106	$	128,572	$	139,678	$	208,371	$	15,957,429	$	16,165,800

Troubled Debt Restructurings on Financing Receivables

The following table presents TDRs, by class segment:



	March 31, 2019		December 31, 2018
	(in thousands)
Real-estate - residential mortgage	$	24,142	$	24,102
Real estate - home equity	16,786		16,665
Real-estate - commercial mortgage	15,301		15,685
Commercial	5,759		5,143
Consumer	11		10
Total accruing TDRs	61,999		61,605
Non-accrual TDRs⁽¹⁾	29,523		28,659
Total TDRs	$	91,522	$	90,264

(1)

Included in non-accrual loans and leases in the preceding table detailing non-performing assets

Loan Terms Modified Under Troubled Debt Restructurings

he following table presents TDRs, by class segment, as of March 31, 2019 and 2018 that were modified in the previous 12 months and had a post-modification payment default during the three months ended March 31, 2019 and 2018. The Corporation defines a payment default as a single missed payment.



	2019			2018
	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
	(dollars in thousands)
Real estate - residential mortgage	2	$	299	5	$	332
Real estate - commercial mortgage	—	—		1	180
Real estate - home equity	24	1,150		18	1,000
Commercial	3	2,264		6	526
Construction	—	—		2	1,484
Total	29	$	3,713	32	$	3,522

The following table presents TDRs, by class segment for loans that were modified during the three months ended March 31, 2019 and 2018:



	Three months ended March 31
	2019			2018
	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
	(dollars in thousands)
Commercial	4	$	2,460	9	$	9,359
Real estate - residential mortgage	4	917		1	$	5
Real estate - home equity	12	829		19	$	1,384
Total	20	$	4,206	29	$	10,748