LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| Receivables [Abstract] |
|
| Loan and Lease Portfolio |
The following table provides a detailed listing of Huntington’s loan and lease portfolio at September 30, 2016 and December 31, 2015:
|
|
|
|
|
|
|
|
|
(dollar amounts in thousands) |
September 30,
2016 |
|
December 31,
2015 |
Loans and leases: |
|
|
|
Commercial and industrial |
$ |
27,667,532 |
|
|
$ |
20,559,834 |
|
Commercial real estate |
7,255,907 |
|
|
5,268,651 |
|
Automobile |
10,791,351 |
|
|
9,480,678 |
|
Home equity |
10,120,029 |
|
|
8,470,482 |
|
Residential mortgage |
7,665,275 |
|
|
5,998,400 |
|
RV and marine finance |
1,839,706 |
|
|
— |
|
Other consumer |
964,666 |
|
|
563,054 |
|
Loans and leases |
66,304,466 |
|
|
50,341,099 |
|
Allowance for loan and lease losses |
(616,898 |
) |
|
(597,843 |
) |
Net loans and leases |
$ |
65,687,568 |
|
|
$ |
49,743,256 |
|
|
| Loans Acquired with deteriorated credit quality during period |
The following table reflects the contractually required payments receivable, cash flows expected to be collected, and fair value of the credit impaired FirstMerit loans at acquisition date:
|
|
|
|
|
|
(dollar amounts in thousands) |
|
August 16,
2016 |
Contractually required payments including interest |
|
$ |
283,947 |
|
Less: nonaccretable difference |
|
(84,315 |
) |
Cash flows expected to be collected |
|
199,632 |
|
Less: accretable yield |
|
(17,717 |
) |
Fair value of loans acquired |
|
$ |
181,915 |
|
|
| Loans acquired with deteriorated credit quality |
The following table presents a rollforward of the accretable yield for purchased credit impaired loans for the three-month and nine-month periods ended September 30, 2016: and 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
(dollar amounts in thousands) |
September 30,
2016 |
|
September 30,
2016 |
FirstMerit |
|
|
|
Balance, beginning of period |
$ |
— |
|
|
$ |
— |
|
Impact of acquisition/purchase on August 16, 2016 |
17,717 |
|
|
17,717 |
|
Accretion |
(1,091 |
) |
|
(1,091 |
) |
Reclassification (to) from nonaccretable difference |
3,308 |
|
|
3,308 |
|
Balance, end of period |
$ |
19,934 |
|
|
$ |
19,934 |
|
There was no allowance for loan losses recorded on the purchased credit-impaired loan portfolio at September 30, 2016. The following table reflects the ending and unpaid balances of all contractually required payments and carrying amounts of the acquired loans by acquisition at September 30, 2016:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016 |
(dollar amounts in thousands) |
Ending
Balance |
|
Unpaid
Balance |
FirstMerit |
|
|
|
Commercial and industrial |
$ |
104,560 |
|
|
$ |
148,243 |
|
Commercial real estate |
49,135 |
|
|
64,146 |
|
Total |
$ |
153,695 |
|
|
$ |
212,389 |
|
|
| Schedule of financing receivable, subject to loss share arrangements |
The following table presents additional information relating to FDIC acquired loans subject to loss sharing agreements at September 30, 2016:
|
|
|
|
|
|
(dollar amounts in thousands) |
|
September 30,
2016 |
FirstMerit |
|
|
Outstanding balance of FDIC acquired loans |
|
$ |
117,316 |
|
Indemnification asset |
|
7,267 |
|
Loss sharing liability |
|
5,897 |
|
|
| Loan Purchases and Sales |
The following table summarizes significant portfolio loan purchase and sale activity for the three-month and nine-month periods ended September 30, 2016 and 2015. The table below excludes mortgage loans originated for sale.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
(dollar amounts in thousands) |
2016 |
|
|
2015 |
|
2016 |
|
|
2015 |
|
Portfolio loans and leases purchased or transferred from held for sale: |
Commercial and industrial |
$ |
16,498 |
|
|
|
$ |
180,036 |
|
|
$ |
354,670 |
|
|
|
$ |
224,532 |
|
|
Commercial real estate |
— |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
Automobile |
— |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
Home equity |
81,080 |
|
(1 |
) |
|
— |
|
|
81,080 |
|
(1 |
) |
|
— |
|
|
Residential mortgage |
725 |
|
|
|
11,284 |
|
|
4,538 |
|
|
|
17,921 |
|
|
RV and marine finance |
— |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
Other consumer |
— |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
Total |
$ |
98,303 |
|
|
|
$ |
191,320 |
|
|
$ |
440,288 |
|
|
|
$ |
242,453 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio loans and leases sold or transferred to loans held for sale: |
Commercial and industrial |
$ |
1,140,096 |
|
|
|
$ |
98,117 |
|
|
$ |
1,380,893 |
|
|
|
$ |
284,019 |
|
|
Commercial real estate |
124,231 |
|
|
|
— |
|
|
124,231 |
|
|
|
— |
|
|
Automobile |
1,541,250 |
|
|
|
— |
|
|
1,541,250 |
|
|
|
764,158 |
|
(2) |
Home equity |
— |
|
|
|
96,786 |
|
|
— |
|
|
|
96,786 |
|
|
Residential mortgage |
— |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
RV and marine finance |
— |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
Other consumer |
— |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
Total |
$ |
2,805,577 |
|
|
|
$ |
194,903 |
|
|
$ |
3,046,374 |
|
|
|
$ |
1,144,963 |
|
|
|
|
(1) |
Reflects the transfer of approximately $81 million home equity loans transferred back to loans and leases in the 2016 third quarter.
|
|
|
(2) |
Reflects the transfer of approximately $1.0 billion automobile loans to loans held for sale at March 31, 2015, net of approximately $262 million of automobile loans transferred back to loans and leases in the 2015 second quarter.
|
|
| NALs and Past Due Loans |
The following table presents NALs by loan class at September 30, 2016 and December 31, 2015:
|
|
|
|
|
|
|
|
|
(dollar amounts in thousands) |
September 30,
2016 |
|
December 31,
2015 |
Commercial and industrial |
$ |
220,862 |
|
|
$ |
175,195 |
|
Commercial real estate |
21,300 |
|
|
28,984 |
|
Automobile |
4,777 |
|
|
6,564 |
|
Home equity |
69,044 |
|
|
66,278 |
|
Residential mortgage |
88,155 |
|
|
94,560 |
|
RV and marine finance |
96 |
|
|
— |
|
Other consumer |
— |
|
|
— |
|
Total nonaccrual loans |
$ |
404,234 |
|
|
$ |
371,581 |
|
|
| Aging analysis of loans and leases |
The following table presents an aging analysis of loans and leases, including past due loans, by loan class at September 30, 2016 and December 31, 2015: (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016 |
|
Past Due |
|
|
|
|
|
Loans Accounted for Under the Fair Value Option |
|
Total Loans
and Leases |
|
90 or
more days
past due
and accruing |
|
(dollar amounts in thousands) |
30-59
Days |
|
60-89
Days |
|
90 or
more days |
Total |
|
Current |
|
Purchased Credit
Impaired
|
|
|
|
|
Commercial and industrial |
$ |
34,066 |
|
|
$ |
13,379 |
|
|
$ |
69,766 |
|
|
$ |
117,211 |
|
|
$ |
27,445,761 |
|
|
$ |
104,560 |
|
|
$ |
— |
|
|
$ |
27,667,532 |
|
|
$ |
20,188 |
|
(2) |
Commercial real estate |
7,890 |
|
|
1,991 |
|
|
35,428 |
|
|
45,309 |
|
|
7,161,463 |
|
|
49,135 |
|
|
— |
|
|
7,255,907 |
|
|
21,260 |
|
|
Automobile loans and leases |
64,668 |
|
|
15,582 |
|
|
8,244 |
|
|
88,494 |
|
|
10,699,599 |
|
|
— |
|
|
3,258 |
|
|
10,791,351 |
|
|
7,871 |
|
|
Home equity |
36,728 |
|
|
20,799 |
|
|
53,279 |
|
|
110,806 |
|
|
10,005,280 |
|
|
— |
|
|
3,943 |
|
|
10,120,029 |
|
|
12,997 |
|
|
Residential mortgage |
113,184 |
|
|
38,867 |
|
|
111,540 |
|
|
263,591 |
|
|
7,322,416 |
|
|
— |
|
|
79,268 |
|
|
7,665,275 |
|
|
68,329 |
|
(3) |
RV and marine finance |
6,754 |
|
|
2,042 |
|
|
1,048 |
|
|
9,844 |
|
|
1,827,721 |
|
|
— |
|
|
2,141 |
|
|
1,839,706 |
|
|
1,043 |
|
|
Other consumer |
8,731 |
|
|
3,284 |
|
|
2,997 |
|
|
15,012 |
|
|
949,074 |
|
|
— |
|
|
580 |
|
|
964,666 |
|
|
2,988 |
|
|
Total loans and leases |
$ |
272,021 |
|
|
$ |
95,944 |
|
|
$ |
282,302 |
|
|
$ |
650,267 |
|
|
$ |
65,411,314 |
|
|
$ |
153,695 |
|
|
$ |
89,190 |
|
|
$ |
66,304,466 |
|
|
$ |
134,676 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015 |
|
Past Due |
|
|
|
|
|
Loans Accounted for Under the Fair Value Option |
|
Total Loans
and Leases |
|
90 or
more days
past due
and accruing |
|
(dollar amounts in thousands) |
30-59
Days |
|
60-89
Days |
|
90 or
more days |
Total |
|
Current |
|
Purchased
Credit Impaired |
|
|
|
|
Commercial and industrial |
44,715 |
|
|
13,580 |
|
|
46,978 |
|
|
105,273 |
|
|
20,454,561 |
|
|
— |
|
|
— |
|
|
20,559,834 |
|
|
8,724 |
|
(2) |
Commercial real estate |
9,232 |
|
|
5,721 |
|
|
21,666 |
|
|
36,619 |
|
|
5,232,032 |
|
|
— |
|
|
— |
|
|
5,268,651 |
|
|
9,549 |
|
|
Automobile loans and leases |
69,553 |
|
|
14,965 |
|
|
7,346 |
|
|
91,864 |
|
|
9,388,814 |
|
|
— |
|
|
— |
|
|
9,480,678 |
|
|
7,162 |
|
|
Home equity |
36,477 |
|
|
16,905 |
|
|
56,300 |
|
|
109,682 |
|
|
8,360,800 |
|
|
— |
|
|
— |
|
|
8,470,482 |
|
|
9,044 |
|
|
Residential mortgage |
102,773 |
|
|
34,298 |
|
|
119,354 |
|
|
256,425 |
|
|
5,741,975 |
|
|
— |
|
|
— |
|
|
5,998,400 |
|
|
69,917 |
|
(4) |
RV and marine finance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Other consumer |
6,469 |
|
|
1,852 |
|
|
1,395 |
|
|
9,716 |
|
|
553,338 |
|
|
— |
|
|
— |
|
|
563,054 |
|
|
1,394 |
|
|
Total loans and leases |
$ |
269,219 |
|
|
$ |
87,321 |
|
|
$ |
253,039 |
|
|
$ |
609,579 |
|
|
$ |
49,731,520 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
50,341,099 |
|
|
$ |
105,790 |
|
|
|
|
(1) |
NALs are included in this aging analysis based on the loan’s past due status. |
|
|
(2) |
Amounts include Huntington Technology Finance administrative lease delinquencies. |
|
|
(3) |
Includes $53 million guaranteed by the U.S. government.
|
|
|
(4) |
Includes $56 million guaranteed by the U.S. government.
|
|
| ALLL and AULC activity by portfolio segment |
The following table presents ALLL and AULC activity by portfolio segment for the three-month and nine-month periods ended September 30, 2016 and 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollar amounts in thousands) |
|
Commercial |
|
Consumer |
|
Total |
Three-month period ended September 30, 2016: |
ALLL balance, beginning of period |
|
$ |
424,507 |
|
|
$ |
198,557 |
|
|
$ |
623,064 |
|
Loan charge-offs |
|
(24,839 |
) |
|
(34,429 |
) |
|
(59,268 |
) |
Recoveries of loans previously charged-off |
|
8,312 |
|
|
10,891 |
|
|
19,203 |
|
Provision (reduction in allowance) for loan and lease losses |
|
36,689 |
|
|
16,834 |
|
|
53,523 |
|
Allowance for loans sold or transferred to loans held for sale |
|
(12,874 |
) |
|
(6,750 |
) |
|
(19,624 |
) |
ALLL balance, end of period |
|
$ |
431,795 |
|
|
$ |
185,103 |
|
|
$ |
616,898 |
|
AULC balance, beginning of period |
|
$ |
63,717 |
|
|
$ |
10,031 |
|
|
$ |
73,748 |
|
Provision (reduction in allowance) for unfunded loan commitments and letters of credit |
|
9,739 |
|
|
543 |
|
|
10,282 |
|
Fair value of acquired AULC |
|
4,403 |
|
|
— |
|
|
4,403 |
|
AULC balance, end of period |
|
$ |
77,859 |
|
|
$ |
10,574 |
|
|
$ |
88,433 |
|
ACL balance, end of period |
|
$ |
509,654 |
|
|
$ |
195,677 |
|
|
$ |
705,331 |
|
Nine-month period ended September 30, 2016: |
ALLL balance, beginning of period |
|
$ |
398,753 |
|
|
$ |
199,090 |
|
|
$ |
597,843 |
|
Loan charge-offs |
|
(70,721 |
) |
|
(91,784 |
) |
|
(162,505 |
) |
Recoveries of loans previously charged-off |
|
62,127 |
|
|
35,006 |
|
|
97,133 |
|
Provision (reduction in allowance) for loan and lease losses |
|
54,510 |
|
|
49,437 |
|
|
103,947 |
|
Allowance for loans sold or transferred to loans held for sale |
|
(12,874 |
) |
|
(6,646 |
) |
|
(19,520 |
) |
ALLL balance, end of period |
|
$ |
431,795 |
|
|
$ |
185,103 |
|
|
$ |
616,898 |
|
AULC balance, beginning of period |
|
$ |
63,448 |
|
|
$ |
8,633 |
|
|
$ |
72,081 |
|
Provision for (reduction in allowance) unfunded loan commitments and letters of credit |
|
10,008 |
|
|
1,941 |
|
|
11,949 |
|
Fair value of acquired AULC |
|
4,403 |
|
|
— |
|
|
4,403 |
|
AULC balance, end of period |
|
$ |
77,859 |
|
|
$ |
10,574 |
|
|
$ |
88,433 |
|
ACL balance, end of period |
|
$ |
509,654 |
|
|
$ |
195,677 |
|
|
$ |
705,331 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollar amounts in thousands) |
|
Commercial |
|
Consumer |
|
Total |
Three-month period ended September 30, 2015: |
ALLL balance, beginning of period |
|
$ |
377,101 |
|
|
$ |
222,441 |
|
|
$ |
599,542 |
|
Loan charge-offs |
|
(29,992 |
) |
|
(30,883 |
) |
|
(60,875 |
) |
Recoveries of loans previously charged-off |
|
33,955 |
|
|
10,757 |
|
|
44,712 |
|
Provision for (reduction in allowance) loan and lease losses |
|
13,232 |
|
|
392 |
|
|
13,624 |
|
Allowance for loans sold or transferred to loans held for sale |
|
— |
|
|
(5,065 |
) |
|
(5,065 |
) |
ALLL balance, end of period |
|
$ |
394,296 |
|
|
$ |
197,642 |
|
|
$ |
591,938 |
|
AULC balance, beginning of period |
|
$ |
47,627 |
|
|
$ |
7,744 |
|
|
$ |
55,371 |
|
Provision for (reduction in allowance) unfunded loan commitments and letters of credit |
|
8,759 |
|
|
93 |
|
|
8,852 |
|
Fair value of acquired AULC |
|
— |
|
|
— |
|
|
— |
|
AULC balance, end of period |
|
$ |
56,386 |
|
|
$ |
7,837 |
|
|
$ |
64,223 |
|
ACL balance, end of period |
|
$ |
450,682 |
|
|
$ |
205,479 |
|
|
$ |
656,161 |
|
Nine-month period ended September 30, 2015: |
ALLL balance, beginning of period |
|
$ |
389,834 |
|
|
$ |
215,362 |
|
|
$ |
605,196 |
|
Loan charge-offs |
|
(77,118 |
) |
|
(85,802 |
) |
|
(162,920 |
) |
Recoveries of loans previously charged-off |
|
63,754 |
|
|
33,196 |
|
|
96,950 |
|
Provision for (reduction in allowance) loan and lease losses |
|
17,826 |
|
|
42,243 |
|
|
60,069 |
|
Allowance for loans sold or transferred to loans held for sale |
|
— |
|
|
(7,357 |
) |
|
(7,357 |
) |
ALLL balance, end of period |
|
$ |
394,296 |
|
|
$ |
197,642 |
|
|
$ |
591,938 |
|
AULC balance, beginning of period |
|
$ |
55,029 |
|
|
$ |
5,777 |
|
|
$ |
60,806 |
|
Provision for (reduction in allowance) unfunded loan commitments and letters of credit |
|
1,357 |
|
|
2,060 |
|
|
3,417 |
|
Fair value of acquired AULC |
|
— |
|
|
— |
|
|
— |
|
AULC balance, end of period |
|
$ |
56,386 |
|
|
$ |
7,837 |
|
|
$ |
64,223 |
|
ACL balance, end of period |
|
$ |
450,682 |
|
|
$ |
205,479 |
|
|
$ |
656,161 |
|
|
| Loan and lease balances by credit quality indicator |
The following table presents each loan and lease class by credit quality indicator at September 30, 2016 and December 31, 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016 |
|
Credit Risk Profile by UCS Classification |
(dollar amounts in thousands) |
Pass |
|
OLEM |
|
Substandard |
|
Doubtful |
|
Total |
Commercial and industrial |
$ |
25,922,981 |
|
|
$ |
591,927 |
|
|
$ |
1,128,765 |
|
|
$ |
23,859 |
|
|
$ |
27,667,532 |
|
Commercial real estate |
6,977,718 |
|
|
120,371 |
|
|
155,607 |
|
|
2,211 |
|
|
7,255,907 |
|
|
|
|
|
|
|
|
|
|
|
|
Credit Risk Profile by FICO Score (1), (2) |
|
750+ |
|
650-749 |
|
<650 |
|
Other (3) |
|
Total |
Automobile |
$ |
5,430,033 |
|
|
$ |
3,933,502 |
|
|
$ |
1,229,856 |
|
|
$ |
194,702 |
|
|
$ |
10,788,093 |
|
Home equity |
6,295,798 |
|
|
2,895,693 |
|
|
636,889 |
|
|
287,706 |
|
|
10,116,086 |
|
Residential mortgage |
4,609,160 |
|
|
2,219,426 |
|
|
625,144 |
|
|
132,277 |
|
|
7,586,007 |
|
RV and marine finance |
1,027,428 |
|
|
633,849 |
|
|
70,189 |
|
|
106,099 |
|
|
1,837,565 |
|
Other consumer |
336,081 |
|
|
430,994 |
|
|
120,132 |
|
|
76,879 |
|
|
964,086 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015 |
|
Credit Risk Profile by UCS Classification |
(dollar amounts in thousands) |
Pass |
|
OLEM |
|
Substandard |
|
Doubtful |
|
Total |
Commercial and industrial |
$ |
19,257,789 |
|
|
$ |
399,339 |
|
|
$ |
895,577 |
|
|
$ |
7,129 |
|
|
$ |
20,559,834 |
|
Commercial real estate |
5,066,054 |
|
|
79,787 |
|
|
121,167 |
|
|
1,643 |
|
|
5,268,651 |
|
|
|
|
|
|
|
|
|
|
|
|
Credit Risk Profile by FICO Score (1), (2) |
|
750+ |
|
650-749 |
|
<650 |
|
Other (3) |
|
Total |
Automobile |
$ |
4,680,684 |
|
|
$ |
3,454,585 |
|
|
$ |
1,086,914 |
|
|
$ |
258,495 |
|
|
$ |
9,480,678 |
|
Home equity |
5,210,741 |
|
|
2,466,425 |
|
|
582,326 |
|
|
210,990 |
|
|
8,470,482 |
|
Residential mortgage |
3,564,064 |
|
|
1,813,779 |
|
|
567,984 |
|
|
52,573 |
|
|
5,998,400 |
|
RV and marine finance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other consumer |
233,969 |
|
|
269,746 |
|
|
49,650 |
|
|
9,689 |
|
|
563,054 |
|
|
|
(1) |
Excludes loans accounted for under the fair value option. |
|
|
(2) |
Reflects most recent customer credit scores. |
|
|
(3) |
Reflects deferred fees and costs, loans in process, loans to legal entities, etc. |
|
| Summarized data for impaired loans and the related ALLL by portfolio segment |
The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance at September 30, 2016 and December 31, 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollar amounts in thousands) |
|
Commercial |
|
Consumer |
|
Total |
ALLL at September 30, 2016: |
|
|
|
|
|
|
Portion of ALLL balance: |
|
|
|
|
|
|
Purchased credit-impaired loans |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Attributable to loans individually evaluated for impairment |
|
17,246 |
|
|
11,603 |
|
|
28,849 |
|
Attributable to loans collectively evaluated for impairment |
|
414,549 |
|
|
173,500 |
|
|
588,049 |
|
Total ALLL balance |
|
$ |
431,795 |
|
|
$ |
185,103 |
|
|
$ |
616,898 |
|
Loan and Lease Ending Balances at September 30, 2016: (1) |
|
|
|
|
|
|
Portion of loan and lease ending balance: |
|
|
|
|
|
|
Purchased credit-impaired loans |
|
$ |
153,695 |
|
|
$ |
— |
|
|
$ |
153,695 |
|
Individually evaluated for impairment |
|
470,134 |
|
|
476,422 |
|
|
946,556 |
|
Collectively evaluated for impairment |
|
34,299,610 |
|
|
30,815,415 |
|
|
65,115,025 |
|
Total loans and leases evaluated for impairment |
|
$ |
34,923,439 |
|
|
$ |
31,291,837 |
|
|
$ |
66,215,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollar amounts in thousands) |
|
Commercial |
|
Consumer |
|
Total |
ALLL at December 31, 2015 |
|
|
|
|
|
|
Portion of ALLL balance: |
|
|
|
|
|
|
Purchased credit-impaired loans |
|
$ |
2,602 |
|
|
$ |
127 |
|
|
$ |
2,729 |
|
Attributable to loans individually evaluated for impairment |
|
27,428 |
|
|
35,008 |
|
|
62,436 |
|
Attributable to loans collectively evaluated for impairment |
|
368,723 |
|
|
163,955 |
|
|
532,678 |
|
Total ALLL balance: |
|
$ |
398,753 |
|
|
$ |
199,090 |
|
|
$ |
597,843 |
|
Loan and Lease Ending Balances at December 31, 2015 (1) |
|
|
|
|
|
|
Portion of loan and lease ending balances: |
|
|
|
|
|
|
Purchased credit-impaired loans |
|
$ |
34,775 |
|
|
$ |
1,506 |
|
|
$ |
36,281 |
|
Individually evaluated for impairment |
|
626,010 |
|
|
651,778 |
|
|
1,277,788 |
|
Collectively evaluated for impairment |
|
25,167,700 |
|
|
23,859,330 |
|
|
49,027,030 |
|
Total loans and leases evaluated for impairment |
|
$ |
25,828,485 |
|
|
$ |
24,512,614 |
|
|
$ |
50,341,099 |
|
|
|
(1) |
Excludes loans accounted for under the fair value option. |
|
| Detailed impaired loan information by class |
The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for loans and leases individually evaluated for impairment and purchased credit-impaired loans: (1), (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016 |
|
Three Months Ended
September 30, 2016 |
|
Nine Months Ended
September 30, |
(dollar amounts in thousands) |
Ending
Balance
|
|
Unpaid
Principal
Balance (5)
|
|
Related
Allowance
|
|
Average
Balance
|
|
Interest
Income
Recognized
|
|
Average
Balance
|
|
Interest
Income
Recognized
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
$ |
356,398 |
|
|
$ |
418,304 |
|
|
$ |
— |
|
|
$ |
305,956 |
|
|
$ |
2,235 |
|
|
$ |
290,163 |
|
|
$ |
4,858 |
|
Commercial real estate |
103,705 |
|
|
133,670 |
|
|
— |
|
|
80,000 |
|
|
907 |
|
|
58,666 |
|
|
2,257 |
|
Automobile |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Home equity |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Residential mortgage |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
RV and marine finance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other consumer |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial (3) |
255,894 |
|
|
270,828 |
|
|
25,850 |
|
|
281,934 |
|
|
1,631 |
|
|
274,262 |
|
|
5,460 |
|
Commercial real estate (4) |
46,388 |
|
|
57,405 |
|
|
3,242 |
|
|
49,140 |
|
|
521 |
|
|
49,587 |
|
|
1,895 |
|
Automobile |
32,279 |
|
|
32,644 |
|
|
1,802 |
|
|
31,540 |
|
|
541 |
|
|
31,912 |
|
|
1,643 |
|
Home equity |
324,106 |
|
|
357,649 |
|
|
14,803 |
|
|
284,512 |
|
|
3,453 |
|
|
267,264 |
|
|
9,382 |
|
Residential mortgage (6) |
341,063 |
|
|
378,500 |
|
|
14,818 |
|
|
344,237 |
|
|
2,978 |
|
|
353,259 |
|
|
9,041 |
|
RV and marine finance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other consumer |
4,244 |
|
|
4,244 |
|
|
302 |
|
|
4,454 |
|
|
58 |
|
|
4,627 |
|
|
178 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015 |
|
Three Months Ended
September 30, 2015 |
|
Nine Months Ended
September 30, |
(dollar amounts in thousands) |
Ending
Balance
|
|
Unpaid
Principal
Balance (5)
|
|
Related
Allowance
|
|
Average
Balance
|
|
Interest
Income
Recognized
|
|
Average
Balance
|
|
Interest
Income
Recognized
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
$ |
255,801 |
|
|
$ |
279,551 |
|
|
$ |
— |
|
|
$ |
133,022 |
|
|
$ |
710 |
|
|
$ |
93,256 |
|
|
$ |
1,694 |
|
Commercial real estate |
68,260 |
|
|
125,814 |
|
|
— |
|
|
56,927 |
|
|
590 |
|
|
61,767 |
|
|
1,734 |
|
Automobile |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Home equity |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Residential mortgage |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
RV and marine finance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other consumer |
52 |
|
|
101 |
|
|
— |
|
|
50 |
|
|
3 |
|
|
51 |
|
|
11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial (3) |
246,249 |
|
|
274,203 |
|
|
21,916 |
|
|
298,417 |
|
|
3,420 |
|
|
260,987 |
|
|
9,688 |
|
Commercial real estate (4) |
90,475 |
|
|
104,930 |
|
|
8,114 |
|
|
126,694 |
|
|
2,695 |
|
|
158,621 |
|
|
9,612 |
|
Automobile |
31,304 |
|
|
31,878 |
|
|
1,779 |
|
|
29,371 |
|
|
554 |
|
|
29,878 |
|
|
1,659 |
|
Home equity |
248,839 |
|
|
284,957 |
|
|
16,242 |
|
|
288,685 |
|
|
2,725 |
|
|
302,808 |
|
|
10,241 |
|
Residential mortgage (6) |
368,449 |
|
|
411,114 |
|
|
16,938 |
|
|
376,026 |
|
|
3,303 |
|
|
374,854 |
|
|
9,630 |
|
RV and marine finance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other consumer |
4,640 |
|
|
4,649 |
|
|
176 |
|
|
4,801 |
|
|
64 |
|
|
4,683 |
|
|
191 |
|
|
|
(1) |
These tables do not include loans fully charged-off. |
|
|
(2) |
All automobile, home equity, residential mortgage, RV and marine finance and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. |
|
|
(3) |
At September 30, 2016, $111 million of the $256 million commercial and industrial loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2015, $91 million of the $246 million commercial and industrial loans with an allowance recorded were considered impaired due to their status as a TDR.
|
|
|
(4) |
At September 30, 2016, $28 million of the $46 million commercial real estate loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2015, $35 million of the $90 million commercial real estate loans with an allowance recorded were considered impaired due to their status as a TDR.
|
|
|
(5) |
The differences between the ending balance and unpaid principal balance amounts represent partial charge-offs. |
|
|
(6) |
At September 30, 2016, $29 million of the $341 million residential mortgages loans with an allowance recorded were guaranteed by the U.S. government. At December 31, 2015, $29 million of the $368 million residential mortgage loans with an allowance recorded were guaranteed by the U.S. government.
|
|
| Detailed troubled debt restructuring information by class |
The following tables present by class and by the reason for the modification, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the three-month and nine-month periods ended September 30, 2016 an 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Troubled Debt Restructurings During The Three-Month Period Ended (1) |
|
September 30, 2016 |
|
September 30, 2015 |
(dollar amounts in thousands) |
Number of
Contracts
|
|
Post-modification
Outstanding
Ending Balance
|
|
Financial effects
of modification (2)
|
|
Number of
Contracts
|
|
Post-modification
Outstanding
Ending Balance
|
|
Financial effects
of modification (2)
|
Commercial and industrial: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
2 |
|
|
$ |
122 |
|
|
$ |
6 |
|
|
2 |
|
|
$ |
89 |
|
|
$ |
(7 |
) |
Amortization or maturity date change |
246 |
|
|
89,100 |
|
|
(1,450 |
) |
|
217 |
|
|
134,356 |
|
|
4,826 |
|
Other |
6 |
|
|
711 |
|
|
(2 |
) |
|
2 |
|
|
338 |
|
|
4 |
|
Total Commercial and industrial |
254 |
|
|
89,933 |
|
|
(1,446 |
) |
|
221 |
|
|
134,783 |
|
|
4,823 |
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
— |
|
|
— |
|
|
— |
|
|
1 |
|
|
356 |
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization or maturity date change |
30 |
|
|
11,183 |
|
|
(546 |
) |
|
30 |
|
|
35,541 |
|
|
383 |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total commercial real estate: |
30 |
|
|
11,183 |
|
|
(546 |
) |
|
31 |
|
|
35,897 |
|
|
389 |
|
Automobile: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
4 |
|
|
26 |
|
|
3 |
|
|
5 |
|
|
6 |
|
|
— |
|
Amortization or maturity date change |
452 |
|
|
4,438 |
|
|
559 |
|
|
401 |
|
|
3,445 |
|
|
157 |
|
Chapter 7 bankruptcy |
236 |
|
|
1,840 |
|
|
157 |
|
|
331 |
|
|
2,585 |
|
|
84 |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total Automobile |
692 |
|
|
6,304 |
|
|
719 |
|
|
737 |
|
|
6,036 |
|
|
241 |
|
Home equity: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
14 |
|
|
352 |
|
|
10 |
|
|
18 |
|
|
1,101 |
|
|
60 |
|
Amortization or maturity date change |
110 |
|
|
6,740 |
|
|
(574 |
) |
|
421 |
|
|
18,842 |
|
|
(2,176 |
) |
Chapter 7 bankruptcy |
70 |
|
|
2,395 |
|
|
1,327 |
|
|
101 |
|
|
2,840 |
|
|
1,134 |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total Home equity |
194 |
|
|
9,487 |
|
|
763 |
|
|
540 |
|
|
22,783 |
|
|
(982 |
) |
Residential mortgage: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
2 |
|
|
134 |
|
|
(2 |
) |
|
3 |
|
|
686 |
|
|
(4 |
) |
Amortization or maturity date change |
77 |
|
|
7,988 |
|
|
(220 |
) |
|
261 |
|
|
27,553 |
|
|
(147 |
) |
Chapter 7 bankruptcy |
17 |
|
|
1,105 |
|
|
(63 |
) |
|
37 |
|
|
3,888 |
|
|
5 |
|
Other |
3 |
|
|
260 |
|
|
— |
|
|
3 |
|
|
254 |
|
|
— |
|
Total Residential mortgage |
99 |
|
|
9,487 |
|
|
(285 |
) |
|
304 |
|
|
32,381 |
|
|
(146 |
) |
RV and marine finance: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Amortization or maturity date change |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Chapter 7 bankruptcy |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total RV and marine finance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other consumer: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
— |
|
|
— |
|
|
— |
|
|
1 |
|
|
96 |
|
|
3 |
|
Amortization or maturity date change |
1 |
|
|
16 |
|
|
— |
|
|
1 |
|
|
2 |
|
|
— |
|
Chapter 7 bankruptcy |
1 |
|
|
6 |
|
|
— |
|
|
2 |
|
|
13 |
|
|
— |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total Other consumer |
2 |
|
|
22 |
|
|
— |
|
|
4 |
|
|
111 |
|
|
3 |
|
Total new troubled debt restructurings |
1,271 |
|
|
$ |
126,416 |
|
|
$ |
(795 |
) |
|
1,837 |
|
|
$ |
231,991 |
|
|
$ |
4,328 |
|
|
|
(1) |
TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. |
|
|
(2) |
Amounts represent the financial impact via provision for loan and lease losses as a result of the modification. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Troubled Debt Restructurings During The Nine-Month Period Ended (1) |
|
September 30, 2016 |
|
September 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollar amounts in thousands) |
Number of
Contracts
|
|
Post-modification
Outstanding
Ending Balance
|
|
Financial effects
of modification (2)
|
|
Number of
Contracts
|
|
Post-modification
Outstanding
Ending Balance
|
|
Financial effects
of modification (2)
|
Commercial and industrial: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
4 |
|
|
$ |
161 |
|
|
$ |
5 |
|
|
10 |
|
|
$ |
759 |
|
|
$ |
1 |
|
Amortization or maturity date change |
629 |
|
|
345,691 |
|
|
(4,368 |
) |
|
588 |
|
|
417,548 |
|
|
(77,877 |
) |
Other |
16 |
|
|
1,801 |
|
|
(4 |
) |
|
11 |
|
|
29,463 |
|
|
(459 |
) |
Total Commercial and industrial |
649 |
|
|
347,653 |
|
|
(4,367 |
) |
|
609 |
|
|
447,770 |
|
|
(78,335 |
) |
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
1 |
|
|
84 |
|
|
— |
|
|
3 |
|
|
2,103 |
|
|
(4 |
) |
Amortization or maturity date change |
90 |
|
|
60,995 |
|
|
(1,828 |
) |
|
106 |
|
|
97,940 |
|
|
(990 |
) |
Other |
4 |
|
|
315 |
|
|
16 |
|
|
11 |
|
|
480 |
|
|
(30 |
) |
Total commercial real estate: |
95 |
|
|
61,394 |
|
|
(1,812 |
) |
|
120 |
|
|
100,523 |
|
|
(1,024 |
) |
Automobile: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
11 |
|
|
132 |
|
|
10 |
|
|
30 |
|
|
48 |
|
|
2 |
|
Amortization or maturity date change |
1,159 |
|
|
11,002 |
|
|
981 |
|
|
1,213 |
|
|
8,929 |
|
|
411 |
|
Chapter 7 bankruptcy |
797 |
|
|
6,384 |
|
|
386 |
|
|
621 |
|
|
4,946 |
|
|
245 |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total Automobile |
1,967 |
|
|
17,518 |
|
|
1,377 |
|
|
1,864 |
|
|
13,923 |
|
|
658 |
|
Home equity: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
43 |
|
|
2,363 |
|
|
103 |
|
|
47 |
|
|
4,029 |
|
|
149 |
|
Amortization or maturity date change |
466 |
|
|
25,031 |
|
|
(2,592 |
) |
|
1,301 |
|
|
63,469 |
|
|
(8,355 |
) |
Chapter 7 bankruptcy |
215 |
|
|
8,106 |
|
|
2,327 |
|
|
257 |
|
|
7,120 |
|
|
3,513 |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total Home equity |
724 |
|
|
35,500 |
|
|
(162 |
) |
|
1,605 |
|
|
74,618 |
|
|
(4,693 |
) |
Residential mortgage: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
12 |
|
|
1,195 |
|
|
(17 |
) |
|
12 |
|
|
1,423 |
|
|
(60 |
) |
Amortization or maturity date change |
277 |
|
|
29,388 |
|
|
(1,217 |
) |
|
454 |
|
|
50,827 |
|
|
(342 |
) |
Chapter 7 bankruptcy |
40 |
|
|
3,788 |
|
|
(42 |
) |
|
106 |
|
|
10,948 |
|
|
(126 |
) |
Other |
4 |
|
|
424 |
|
|
— |
|
|
9 |
|
|
962 |
|
|
— |
|
Total Residential mortgage |
333 |
|
|
34,795 |
|
|
(1,276 |
) |
|
581 |
|
|
64,160 |
|
|
(528 |
) |
RV and marine finance: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Amortization or maturity date change |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Chapter 7 bankruptcy |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total RV and marine finance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other consumer: |
|
|
|
|
|
|
|
|
|
|
|
Interest rate reduction |
— |
|
|
— |
|
|
— |
|
|
1 |
|
|
96 |
|
|
3 |
|
Amortization or maturity date change |
6 |
|
|
575 |
|
|
24 |
|
|
7 |
|
|
130 |
|
|
6 |
|
Chapter 7 bankruptcy |
8 |
|
|
72 |
|
|
7 |
|
|
7 |
|
|
58 |
|
|
9 |
|
Other |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other consumer |
14 |
|
|
647 |
|
|
31 |
|
|
15 |
|
|
284 |
|
|
18 |
|
Total new troubled debt restructurings |
3,782 |
|
|
$ |
497,507 |
|
|
$ |
(6,209 |
) |
|
4,794 |
|
|
$ |
701,278 |
|
|
$ |
(83,904 |
) |
|
|
(1) |
TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. |
|
|
(2) |
Amount represents the financial impact via provision for loan and lease losses as a result of the modification. |
|