WINTRUST FINANCIAL CORP, 10-Q filed on 5/8/2015
Quarterly Report
Document and Entity Information
3 Months Ended
Mar. 31, 2015
Apr. 30, 2015
Document And Entity Information [Abstract]
 
 
Document Type
10-Q 
 
Amendment Flag
false 
 
Document Period End Date
Mar. 31, 2015 
 
Document Fiscal Year Focus
2015 
 
Document Fiscal Period Focus
Q1 
 
Entity Current Reporting Status
Yes 
 
Trading Symbol
WTFC 
 
Entity Registrant Name
WINTRUST FINANCIAL CORP 
 
Entity Central Index Key
0001015328 
 
Current Fiscal Year End Date
--12-31 
 
Entity Filer Category
Large Accelerated Filer 
 
Entity Common Stock, Shares Outstanding
 
47,420,182 
Consolidated Statements Of Condition (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Assets
 
 
 
Cash and due from banks
$ 286,743 
$ 225,136 
$ 330,262 
Federal funds sold and securities purchased under resale agreements
4,129 
5,571 
12,476 
Interest bearing deposits with banks
697,799 
998,437 
540,964 
Available-for-sale securities, at fair value
1,721,030 
1,792,078 
1,949,697 
Trading account securities
7,811 
1,206 
1,068 
Federal Home Loan Bank and Federal Reserve Bank stock
92,948 
91,582 
78,524 
Brokerage customer receivables
25,287 
24,221 
26,884 
Mortgage loans held-for-sale, at fair value
446,355 
351,290 
215,231 
Loans, net of unearned income, excluding covered loans
14,953,059 
14,409,398 
13,133,160 
Covered loans
209,694 
226,709 
312,478 
Total loans
15,162,753 
14,636,107 
13,445,638 
Less: Allowance for loan losses
94,446 
91,705 
92,275 
Less: Allowance for covered loan losses
1,878 
2,131 
3,447 
Net loans
15,066,429 
14,542,271 
13,349,916 
Premises and equipment, net
559,281 
555,228 
531,763 
FDIC indemnification asset
10,224 
11,846 
60,298 
Accrued interest receivable and other assets
537,117 
501,882 
549,705 
Trade date securities receivable
488,063 
485,534 
182,600 
Goodwill
420,197 
405,634 
373,725 
Other intangible assets
18,858 
18,811 
18,050 
Total assets
20,382,271 
20,010,727 
18,221,163 
Deposits:
 
 
 
Non-interest bearing
3,779,609 
3,518,685 
2,773,922 
Interest bearing
13,159,160 
12,763,159 
12,355,123 
Total deposits
16,938,769 
16,281,844 
15,129,045 
Federal Home Loan Bank advances
416,036 
733,050 
387,672 
Other borrowings
187,006 
196,465 
231,086 
Subordinated notes
140,000 
140,000 
0 
Junior subordinated debentures
249,493 
249,493 
249,493 
Trade date securities payable
2,929 
3,828 
0 
Accrued interest payable and other liabilities
316,964 
336,225 
283,724 
Total liabilities
18,251,197 
17,940,905 
16,281,020 
Preferred stock, no par value; 20,000,000 shares authorized:
 
 
 
Series C - $1,000 liquidation value; 126,427 shares issued and outstanding at March 31, 2015, 126,467 shares issued and outstanding at December 31, 2014, and 126,477 shares issued and outstanding at March, 31, 2014
126,427 
126,467 
126,477 
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at March 31, 2015, December 31, 2014, and March 31, 2014; 47,474,721 shares issued at March 31, 2015, 46,881,108 shares issued at December 31, 2014, and 46,332,213 shares issued at March 31, 2014
47,475 
46,881 
46,332 
Surplus
1,156,542 
1,133,955 
1,122,233 
Treasury stock, at cost, 85,113 shares at March 31, 2015, 76,053 shares at December 31, 2014, and 73,253 shares at March 31, 2014
(3,948)
(3,549)
(3,380)
Retained earnings
835,669 
803,400 
705,234 
Accumulated other comprehensive loss
(31,091)
(37,332)
(56,753)
Total shareholders' equity
2,131,074 
2,069,822 
1,940,143 
Total liabilities and shareholders' equity
$ 20,382,271 
$ 20,010,727 
$ 18,221,163 
Consolidated Statements Of Condition (Parenthetical) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Preferred stock, no par value
   
   
   
Preferred stock, 20,000,000 shares authorized
20,000,000 
20,000,000 
20,000,000 
Common stock, no par value
   
   
   
Common stock, $1.00 stated value
$ 1.00 
$ 1.00 
$ 1.00 
Common stock, 100,000,000 shares authorized
100,000,000 
100,000,000 
100,000,000 
Common stock, shares issued
47,474,721 
46,881,108 
46,332,213 
Treasury stock, shares
85,113 
76,053 
73,253 
Series C - $1,000 liquidation value; 126,427 shares issued and outstanding at March 31, 2015, 126,467 shares issued and outstanding at December 31, 2014, and 126,477 shares issued and outstanding at March 31, 2014
 
 
 
Preferred stock, $1,000 liquidation value
$ 1,000 
$ 1,000 
$ 1,000 
Preferred stock, shares outstanding
126,427 
126,467 
126,477 
Consolidated Statements Of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Interest income
 
 
Interest and fees on loans
$ 154,676 
$ 147,030 
Interest bearing deposits with banks
316 
249 
Federal funds sold and securities purchased under resale agreements
2 
4 
Available-for-sale securities
14,400 
13,114 
Trading account securities
13 
9 
Federal Home Loan Bank and Federal Reserve Bank stock
769 
711 
Brokerage customer receivables
181 
209 
Total interest income
170,357 
161,326 
Interest expense
 
 
Interest on deposits
11,814 
11,923 
Interest on Federal Home Loan Bank advances
2,156 
2,643 
Interest on other borrowings
788 
750 
Interest on subordinated notes
1,775 
0 
Interest on junior subordinated debentures
1,933 
2,004 
Total interest expense
18,466 
17,320 
Net interest income
151,891 
144,006 
Provision for credit losses
6,079 
1,880 
Net interest income after provision for credit losses
145,812 
142,126 
Non-interest income
 
 
Wealth management
18,100 
16,813 
Mortgage banking
27,800 
16,428 
Service charges on deposit accounts
6,297 
5,346 
Gains (losses) on available-for-sale securities, net
524 
(33)
Fees from covered call options
4,360 
1,542 
Trading losses, net
(477)
(652)
Other
7,937 
6,085 
Total non-interest income
64,541 
45,529 
Non-interest expense
 
 
Salaries and employee benefits
90,130 
79,934 
Equipment
7,836 
7,403 
Occupancy, net
12,351 
10,993 
Data processing
5,448 
4,715 
Advertising and marketing
3,907 
2,816 
Professional fees
4,664 
3,454 
Amortization of other intangible assets
1,013 
1,163 
FDIC insurance
2,987 
2,951 
OREO expense, net
1,411 
3,976 
Other
17,571 
13,910 
Total non-interest expense
147,318 
131,315 
Income before taxes
63,035 
56,340 
Income tax expense
23,983 
21,840 
Net income
39,052 
34,500 
Preferred stock dividends and discount accretion
1,581 
1,581 
Net income applicable to common shares
$ 37,471 
$ 32,919 
Net income per common share-Basic (in usd per share)
$ 0.79 
$ 0.71 
Net income per common share-Diluted (in usd per share)
$ 0.76 
$ 0.68 
Cash dividends declared per common share (in usd per share)
$ 0.11 
$ 0.10 
Weighted average common shares outstanding
47,239 
46,195 
Dilutive potential common shares
4,233 
4,509 
Average common shares and dilutive common shares
51,472 
50,704 
Consolidated Statements Of Comprehensive Income (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
 
 
Net income
$ 39,052 
$ 34,500 
Unrealized gains on securities
 
 
Before tax
26,276 
22,526 
Tax effect
(10,331)
(8,804)
Net of tax
15,945 
13,722 
Less: Reclassification of net gains (losses) included in net income
 
 
Before tax
524 
(33)
Tax effect
(206)
13 
Net of tax
318 
(20)
Net unrealized gains on securities
15,627 
13,742 
Unrealized losses on derivative instruments
 
 
Before tax
(561)
(98)
Tax effect
220 
39 
Net unrealized losses on derivative instruments
(341)
(59)
Foreign currency translation adjustment
 
 
Before tax
(12,290)
(9,959)
Tax effect
3,245 
2,559 
Net foreign currency translation adjustment
(9,045)
(7,400)
Total other comprehensive income
6,241 
6,283 
Comprehensive income
$ 45,293 
$ 40,783 
Consolidated Statements Of Changes In Shareholders Equity (Unaudited) (USD $)
In Thousands, unless otherwise specified
Total
Preferred stock
Common stock
Surplus
Treasury stock
Retained earnings
Accumulated other comprehensive loss
Balance at Dec. 31, 2013
$ 1,900,589 
$ 126,477 
$ 46,181 
$ 1,117,032 
$ (3,000)
$ 676,935 
$ (63,036)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
 
 
 
 
 
 
 
Net income
34,500 
 
 
 
 
34,500 
 
Other comprehensive income, net of tax
6,283 
 
 
 
 
 
6,283 
Cash dividends declared on common stock
(4,620)
 
 
 
 
(4,620)
 
Dividends on preferred stock
(1,581)
 
 
 
 
(1,581)
 
Stock-based compensation
1,681 
 
 
1,681 
0 
 
 
Common stock issued for:
 
 
 
 
 
 
 
Exercise of stock options and warrants
2,270 
 
77 
2,464 
(271)
 
 
Restricted stock awards
43 
 
41 
111 
(109)
 
 
Employee stock purchase plan
600 
 
13 
587 
 
 
 
Director compensation plan
378 
 
20 
358 
 
 
 
Balance at Mar. 31, 2014
1,940,143 
126,477 
46,332 
1,122,233 
(3,380)
705,234 
(56,753)
Balance at Dec. 31, 2014
2,069,822 
126,467 
46,881 
1,133,955 
(3,549)
803,400 
(37,332)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
 
 
 
 
 
 
 
Net income
39,052 
 
 
 
 
39,052 
0 
Other comprehensive income, net of tax
6,241 
 
 
 
 
 
6,241 
Cash dividends declared on common stock
(5,202)
 
 
 
 
(5,202)
 
Dividends on preferred stock
(1,581)
 
 
 
 
(1,581)
 
Stock-based compensation
2,271 
 
 
2,271 
 
 
 
Conversion of Series C preferred stock to common stock
0 
(40)
1 
39 
 
 
 
Common stock issued for:
 
 
 
 
 
 
 
Acquisitions
19,004 
 
422 
18,582 
0 
 
 
Exercise of stock options and warrants
457 
 
52 
535 
(130)
 
 
Restricted stock awards
144 
 
84 
329 
(269)
 
 
Employee stock purchase plan
681 
 
15 
666 
 
 
 
Director compensation plan
185 
 
20 
165 
 
 
 
Balance at Mar. 31, 2015
$ 2,131,074 
$ 126,427 
$ 47,475 
$ 1,156,542 
$ (3,948)
$ 835,669 
$ (31,091)
Consolidated Statements Of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Operating Activities:
 
 
Net income
$ 39,052 
$ 34,500 
Adjustments to reconcile net income to net cash (used for) provided by operating activities
 
 
Provision for credit losses
6,079 
1,880 
Depreciation and amortization
7,895 
7,753 
Stock-based compensation expense
2,271 
1,681 
Tax (expense) benefit from stock-based compensation arrangements
(623)
3 
Excess tax benefits from stock-based compensation arrangements
(471)
(156)
Net amortization of premium on securities
845 
233 
Mortgage servicing rights fair value change, net
514 
253 
Originations and purchases of mortgage loans held-for-sale
(941,651)
(527,272)
Proceeds from sales of mortgage loans held-for-sale
867,194 
658,588 
Increase in trading securities, net
(6,605)
(571)
Net (increase) decrease in brokerage customer receivables
(1,066)
4,069 
Gains on mortgage loans sold
(20,608)
(12,220)
(Gains) losses on available-for-sale securities, net
(524)
33 
Losses on sales of premises and equipment, net
81 
795 
Net (gains) losses on sales and fair value adjustments of other real estate owned
(549)
2,460 
(Increase) decrease in accrued interest receivable and other assets, net
(21,291)
27,584 
Decrease in accrued interest payable and other liabilities, net
(48,874)
(37,348)
Net Cash (Used for) Provided by Operating Activities
(118,331)
162,265 
Investing Activities:
 
 
Proceeds from maturities of available-for-sale securities
122,163 
98,007 
Proceeds from sales of available-for-sale securities
635,532 
14,800 
Purchases of available-for-sale securities
(629,008)
(349,979)
Net cash received for acquisitions
12,004 
0 
Proceeds from sales of other real estate owned
11,733 
20,362 
(Payments provided to) proceeds received from the FDIC related to reimbursements on covered assets
(2,056)
9,669 
Net decrease (increase) in interest bearing deposits with banks
300,706 
(45,390)
Net increase in loans
(407,522)
(227,040)
Purchases of premises and equipment, net
(5,902)
(7,596)
Net Cash Provided by (Used for) Investing Activities
37,650 
(487,167)
Financing Activities:
 
 
Increase in deposit accounts
486,960 
460,551 
Decrease in other borrowings, net
(20,327)
(24,018)
Decrease in Federal Home Loan Bank advances, net
(321,565)
(30,000)
Excess tax benefits from stock-based compensation arrangements
471 
156 
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants
2,489 
3,668 
Common stock repurchases
(399)
(380)
Dividends paid
(6,783)
(6,201)
Net Cash Provided by Financing Activities
140,846 
403,776 
Net Increase in Cash and Cash Equivalents
60,165 
78,874 
Cash and Cash Equivalents at Beginning of Period
230,707 
263,864 
Cash and Cash Equivalents at End of Period
$ 290,872 
$ 342,738 
Basis of Presentation
Basis of Presentation
Basis of Presentation
The consolidated financial statements of Wintrust Financial Corporation and Subsidiaries (“Wintrust” or “the Company”) presented herein are unaudited, but in the opinion of management reflect all necessary adjustments of a normal or recurring nature for a fair presentation of results as of the dates and for the periods covered by the consolidated financial statements.
The accompanying consolidated financial statements are unaudited and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations or cash flows in accordance with U.S. generally accepted accounting principles ("GAAP"). The consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (“2014 Form 10-K”). Operating results reported for the three-month periods are not necessarily indicative of the results which may be expected for the entire year. Reclassifications of certain prior period amounts have been made to conform to the current period presentation.
The preparation of the financial statements requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities. Management believes that the estimates made are reasonable, however, changes in estimates may be required if economic or other conditions develop differently from management’s expectations. Certain policies and accounting principles inherently have a greater reliance on the use of estimates, assumptions and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Management views critical accounting policies to be those which are highly dependent on subjective or complex judgments, estimates and assumptions, and where changes in those estimates and assumptions could have a significant impact on the financial statements. Management currently views the determination of the allowance for loan losses, allowance for covered loan losses and the allowance for losses on lending-related commitments, loans acquired with evidence of credit quality deterioration since origination, estimations of fair value, the valuations required for impairment testing of goodwill, the valuation and accounting for derivative instruments and income taxes as the accounting areas that require the most subjective and complex judgments, and as such could be the most subject to revision as new information becomes available. Descriptions of our significant accounting policies are included in Note 1 - “Summary of Significant Accounting Policies” of the Company’s 2014 Form 10-K.
Recent Accounting Developments
Recent Accounting Developments
Recent Accounting Developments

Accounting for Investments in Qualified Affordable Housing Projects

In January 2014, the FASB issued ASU No. 2014-01, “Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects,” to provide guidance on accounting for investments by a reporting entity in flow-through limited liability entities that invest in affordable housing projects that qualify for the low-income housing tax credit. This ASU permits a new accounting treatment, if certain conditions are met, which allows the Company to amortize the initial cost of an investment in proportion to the amount of tax credits and other tax benefits received with recognition of the investment performance in income tax expense. The Company adopted this new guidance beginning January 1, 2015. The guidance did not have a material impact on the Company's consolidated financial statements.

Repossession of Residential Real Estate Collateral

In January 2014, the FASB issued ASU No. 2014-04, “Receivables - Troubled Debt Restructurings by Creditors (Topic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” to address diversity in practice and clarify guidance regarding the accounting for an in-substance repossession or foreclosure of residential real estate collateral. This ASU clarifies that an in-substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or the borrower conveying all interest in the residential real estate property to the creditor. Additionally, this ASU requires disclosure of both the amount of foreclosed residential real estate property held by the Company and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The Company adopted this new guidance beginning January 1, 2015. The guidance did not have a material impact on the Company's consolidated financial statements.

Revenue Recognition

In May 2014, the FASB issued ASU No. 2014-09, which created "Revenue from Contracts with Customers (Topic 606), to clarify the principles for recognizing revenue and develop a common revenue standard for customer contracts. This ASU provides guidance regarding how an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also added a new subtopic to the codification, ASC 340-40, "Other Assets and Deferred Costs: Contracts with Customers" to provide guidance on costs related to obtaining and fulfilling a customer contract. Furthermore, the new standard requires disclosure of sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. At this time, the guidance is effective for fiscal years beginning after December 15, 2016. In April 2015, the FASB proposed to defer the effective date by one year, which would result in the guidance becoming effective for fiscal years beginning after December 15, 2017. The Company is currently evaluating the impact of adopting this new guidance on the consolidated financial statements.

Extraordinary and Unusual Items

In January 2015, the FASB issued ASU No. 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items,” to eliminate the concept of extraordinary items related to separately classifying, presenting and disclosing certain events and transactions that meet the criteria for that concept. This guidance is effective for fiscal years beginning after December 15, 2015 and is to be applied either prospectively or retrospectively. The Company does not expect this guidance to have a material impact on the Company’s consolidated financial statements.

Consolidation

In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis,” which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. This guidance is effective for fiscal years beginning after December 15, 2015 and is to be applied retrospectively. The Company is currently evaluating the impact of adopting this new guidance on the consolidated financial statements.

Debt Issuance Costs

In April 2015, the FASB issued ASU No. 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs," to clarify the the presentation of debt issuance costs within the balance sheet. This ASU requires that an entity present debt issuance costs related to a recognized debt liability on the balance sheet as a direct deduction from the carrying amount of that debt liability, not as a separate asset. The ASU does not affect the current guidance for the recognition and measurement for these debt issuance costs. This guidance is effective for fiscal years beginning after December 15, 2015 and is to be applied retrospectively. The Company does not expect this guidance to have a material impact on the Company’s consolidated financial statements.
Business Combinations
Business Combinations
Business Combinations

Non-FDIC Assisted Bank Acquisitions

On January 16, 2015 the Company acquired Delavan Bancshares, Inc. ("Delavan"). Delavan was the parent company of Community Bank CBD, which had four banking locations. Community Bank CBD was merged into the Company's wholly-owned subsidiary Town Bank. The Company acquired assets with a fair value of approximately $223.9 million, including approximately $128.0 million of loans, and assumed liabilities with a fair value of approximately $185.6 million, including approximately $170.2 million of deposits. Additionally the Company recorded goodwill of $16.7 million on the acquisition.

On August 8, 2014, the Company, through its wholly-owned subsidiary Town Bank, acquired eleven branch offices and deposits of Talmer Bank & Trust. Subsequent to this date, the Company acquired loans from these branches as well. In total, the Company acquired assets with a fair value of approximately $361.3 million, including approximately $41.5 million of loans, and assumed liabilities with a fair value of approximately $361.3 million, including approximately $354.9 million of deposits. Additionally, the Company recorded goodwill of $9.7 million on the acquisition.

On July 11, 2014 the Company, through its wholly-owned subsidiary Town Bank, acquired the Pewaukee, Wisconsin branch of THE National Bank. The Company acquired assets with a fair value of approximately $94.1 million, including approximately $75.0 million of loans, and assumed deposits with a fair value of approximately $36.2 million. Additionally, the Company recorded goodwill of $16.3 million on the acquisition.

On May 16, 2014, the Company, through its wholly-owned subsidiary Hinsdale Bank and Trust Company ("Hinsdale Bank") acquired the Stone Park branch office and certain related deposits of Urban Partnership Bank ("UPB"). The Company assumed liabilities with a fair value of approximately $5.5 million, including approximately $5.4 million of deposits. Additionally, the Company recorded goodwill of $678,000 on the acquisition.

See Note 17 - Subsequent Events for discussion regarding the Company's announced acquisitions of Community Financial Shares, Inc ("CFIS"), North Bank and Suburban Illinois Bancorp, Inc. ("Suburban").

FDIC-Assisted Transactions
Since 2010, the Company acquired the banking operations, including the acquisition of certain assets and the assumption of liabilities, of nine financial institutions in FDIC-assisted transactions. Loans comprise the majority of the assets acquired in nearly all of these FDIC-assisted transactions since 2010, most of which are subject to loss sharing agreements with the FDIC whereby the FDIC has agreed to reimburse the Company for 80% of losses incurred on the purchased loans, other real estate owned (“OREO”), and certain other assets. Additionally, the loss share agreements with the FDIC require the Company to reimburse the FDIC in the event that actual losses on covered assets are lower than the original loss estimates agreed upon with the FDIC with respect of such assets in the loss share agreements. The Company refers to the loans subject to these loss-sharing agreements as “covered loans” and uses the term “covered assets” to refer to covered loans, covered OREO and certain other covered assets. The agreements with the FDIC require that the Company follow certain servicing procedures or risk losing the FDIC reimbursement of covered asset losses.
The loans covered by the loss sharing agreements are classified and presented as covered loans and the estimated reimbursable losses are recorded as an FDIC indemnification asset in the Consolidated Statements of Condition. The Company recorded the acquired assets and liabilities at their estimated fair values at the acquisition date. The fair value for loans reflected expected credit losses at the acquisition date. Therefore, the Company will only recognize a provision for credit losses and charge-offs on the acquired loans for any further credit deterioration subsequent to the acquisition date. See Note 7 — Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans for further discussion of the allowance on covered loans.
The loss share agreements with the FDIC cover realized losses on loans, foreclosed real estate and certain other assets. These loss share assets are measured separately from the loan portfolios because they are not contractually embedded in the loans and are not transferable with the loans should the Company choose to dispose of them. Fair values at the acquisition dates were estimated based on projected cash flows available for loss-share based on the credit adjustments estimated for each loan pool and the loss share percentages. The loss share assets are recorded as FDIC indemnification assets on the Consolidated Statements of Condition. Subsequent to the acquisition date, reimbursements received from the FDIC for actual incurred losses will reduce the FDIC indemnification assets. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will also reduce the FDIC indemnification assets. Although these assets are contractual receivables from the FDIC, there are no contractual interest rates. Additional expected losses, to the extent such expected losses result in recognition of an allowance for covered loan losses, will increase the FDIC indemnification asset. The corresponding accretion is recorded as a component of non-interest income on the Consolidated Statements of Income.
The following table summarizes the activity in the Company’s FDIC indemnification asset during the periods indicated:
 
Three Months Ended
(Dollars in thousands)
March 31,
2015
 
March 31,
2014
Balance at beginning of period
$
11,846

 
$
85,672

Additions from acquisitions
—

 
—

Additions from reimbursable expenses
1,575

 
1,282

Amortization
(1,260
)
 
(1,603
)
Changes in expected reimbursements from the FDIC for changes in expected credit losses
(3,993
)
 
(15,384
)
Payments provided to (received from) the FDIC
2,056

 
(9,669
)
Balance at end of period
$
10,224

 
$
60,298


Specialty Finance Acquisition
On April 28, 2014, the Company, through its wholly-owned subsidiary, First Insurance Funding of Canada, Inc., acquired Policy Billing Services Inc. and Equity Premium Finance Inc., two affiliated Canadian insurance premium funding and payment services companies. Through this transaction, the Company acquired approximately $7.4 million of premium finance receivables. The Company recorded goodwill of approximately $6.5 million on the acquisition.
Purchased Credit Impaired ("PCI") Loans
Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date. Expected future cash flows at the purchase date in excess of the fair value of loans are recorded as interest income over the life of the loans if the timing and amount of the future cash flows is reasonably estimable (“accretable yield”). The difference between contractually required payments and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference and represents probable losses in the portfolio.
In determining the acquisition date fair value of PCI loans, and in subsequent accounting, the Company aggregates these purchased loans into pools of loans by common risk characteristics, such as credit risk rating and loan type. Subsequent to the purchase date, increases in cash flows over those expected at the purchase date are recognized as interest income prospectively. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses.
The Company purchased a portfolio of life insurance premium finance receivables in 2009. These purchased life insurance premium finance receivables are valued on an individual basis with the accretable component being recognized into interest income using the effective yield method over the estimated remaining life of the loans. The non-accretable portion is evaluated each quarter and if the loans’ credit related conditions improve, a portion is transferred to the accretable component and accreted over future periods. In the event a specific loan prepays in whole, any remaining accretable and non-accretable discount is recognized in income immediately. If credit related conditions deteriorate, an allowance related to these loans will be established as part of the provision for credit losses.
See Note 6—Loans, for more information on PCI loans.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and Cash Equivalents
For purposes of the Consolidated Statements of Cash Flows, the Company considers cash and cash equivalents to include cash on hand, cash items in the process of collection, non-interest bearing amounts due from correspondent banks, federal funds sold and securities purchased under resale agreements with original maturities of three months or less.
Available-For-Sale Securities
Investments in Debt and Marketable Equity Securities
Available-For-Sale Securities
The following tables are a summary of the available-for-sale securities portfolio as of the dates shown:
 
 
March 31, 2015
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury
$
273,173

 
$
148

 
$
(1,847
)
 
$
271,474

U.S. Government agencies
665,177

 
5,348

 
(8,732
)
 
661,793

Municipal
264,949

 
6,485

 
(1,522
)
 
269,912

Corporate notes:
 
 
 
 
 
 
 
Financial issuers
129,360

 
1,965

 
(1,321
)
 
130,004

Other
3,759

 
52

 
(1
)
 
3,810

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
280,679

 
5,983

 
(2,529
)
 
284,133

Collateralized mortgage obligations
45,299

 
435

 
(276
)
 
45,458

Equity securities
48,717

 
5,979

 
(250
)
 
54,446

Total available-for-sale securities
$
1,711,113

 
$
26,395

 
$
(16,478
)
 
$
1,721,030

 
 
December 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
(Dollars in thousands)
 
 
 
U.S. Treasury
$
388,713

 
$
84

 
$
(6,992
)
 
$
381,805

U.S. Government agencies
686,106

 
4,113

 
(21,903
)
 
668,316

Municipal
234,951

 
5,318

 
(1,740
)
 
238,529

Corporate notes:
 
 
 
 
 
 
 
Financial issuers
129,309

 
2,006

 
(1,557
)
 
129,758

Other
3,766

 
55

 
—

 
3,821

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
271,129

 
5,448

 
(4,928
)
 
271,649

Collateralized mortgage obligations
47,347

 
249

 
(535
)
 
47,061

Equity securities
46,592

 
4,872

 
(325
)
 
51,139

Total available-for-sale securities
$
1,807,913

 
$
22,145

 
$
(37,980
)
 
$
1,792,078

 
 
March 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
(Dollars in thousands)
 
 
 
U.S. Treasury
$
354,109

 
$
263

 
$
(14,194
)
 
$
340,178

U.S. Government agencies
874,845

 
3,286

 
(49,856
)
 
828,275

Municipal
175,028

 
3,439

 
(3,167
)
 
175,300

Corporate notes:
 
 
 
 
 
 
 
Financial issuers
129,413

 
2,306

 
(1,735
)
 
129,984

Other
4,986

 
100

 
(3
)
 
5,083

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
371,825

 
3,919

 
(13,188
)
 
362,556

Collateralized mortgage obligations
55,190

 
356

 
(799
)
 
54,747

Equity securities
50,570

 
3,543

 
(539
)
 
53,574

Total available-for-sale securities
$
2,015,966

 
$
17,212

 
$
(83,481
)
 
$
1,949,697


(1)
Consisting entirely of residential mortgage-backed securities, none of which are subprime.
The following table presents the portion of the Company’s available-for-sale securities portfolio which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at March 31, 2015:
 
 
Continuous unrealized
losses existing for
less than 12 months
 
Continuous unrealized
losses existing for
greater than 12 months
 
Total
(Dollars in thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Treasury
$
198,297

 
$
(1,847
)
 
$
—

 
$
—

 
$
198,297

 
$
(1,847
)
U.S. Government agencies
163,928

 
(2,158
)
 
259,346

 
(6,574
)
 
423,274

 
(8,732
)
Municipal
41,611

 
(500
)
 
37,899

 
(1,022
)
 
79,510

 
(1,522
)
Corporate notes:
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
9,968

 
(31
)
 
44,667

 
(1,290
)
 
54,635

 
(1,321
)
Other
999

 
(1
)
 
—

 
—

 
999

 
(1
)
Mortgage-backed:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
16,725

 
(92
)
 
127,433

 
(2,437
)
 
144,158

 
(2,529
)
Collateralized mortgage obligations
1,015

 
(1
)
 
10,502

 
(275
)
 
11,517

 
(276
)
Equity securities
—

 
—

 
8,611

 
(250
)
 
8,611

 
(250
)
Total
$
432,543

 
$
(4,630
)
 
$
488,458

 
$
(11,848
)
 
$
921,001

 
$
(16,478
)


The Company conducts a regular assessment of its investment securities to determine whether securities are other-than-temporarily impaired considering, among other factors, the nature of the securities, credit ratings or financial condition of the issuer, the extent and duration of the unrealized loss, expected cash flows, market conditions and the Company’s ability to hold the securities through the anticipated recovery period.

The Company does not consider securities with unrealized losses at March 31, 2015 to be other-than-temporarily impaired. The Company does not intend to sell these investments and it is more likely than not that the Company will not be required to sell these investments before recovery of the amortized cost bases, which may be the maturity dates of the securities. The unrealized losses within each category have occurred as a result of changes in interest rates, market spreads and market conditions subsequent to purchase. Securities with continuous unrealized losses existing for more than twelve months were primarily agency bonds, treasury notes and mortgage-backed securities. Unrealized losses recognized on agency bonds, treasury notes and mortgage-backed securities are the result of increases in yields for similar types of securities which also have a longer duration and maturity.

The following table provides information as to the amount of gross gains and gross losses realized and proceeds received through the sales of available-for-sale investment securities:
 
 
Three months ended March 31,
(Dollars in thousands)
2015
 
2014
Realized gains
$
553

 
$
55

Realized losses
(29
)
 
(88
)
Net realized gains (losses)
$
524

 
$
(33
)
Other than temporary impairment charges
—

 
—

Gains (losses) on available-for-sale securities, net
$
524

 
$
(33
)
Proceeds from sales of available-for-sale securities
$
635,532

 
$
14,800




The amortized cost and fair value of securities as of March 31, 2015, December 31, 2014 and March 31, 2014, by contractual maturity, are shown in the following table. Contractual maturities may differ from actual maturities as borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Mortgage-backed securities are not included in the maturity categories in the following maturity summary as actual maturities may differ from contractual maturities because the underlying mortgages may be called or prepaid without penalties:
 
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
(Dollars in thousands)
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
Due in one year or less
$
151,585

 
$
151,854

 
$
285,596

 
$
285,889

 
$
203,749

 
$
203,942

Due in one to five years
249,861

 
250,483

 
172,647

 
172,885

 
338,130

 
338,980

Due in five to ten years
837,926

 
836,598

 
331,389

 
325,644

 
344,296

 
330,546

Due after ten years
97,046

 
98,058

 
653,213

 
637,811

 
652,206

 
605,352

Mortgage-backed
325,978

 
329,591

 
318,476

 
318,710

 
427,015

 
417,303

Equity securities
48,717

 
54,446

 
46,592

 
51,139

 
50,570

 
53,574

Total available-for-sale securities
$
1,711,113

 
$
1,721,030

 
$
1,807,913

 
$
1,792,078

 
$
2,015,966

 
$
1,949,697


Securities having a carrying value of $1.1 billion at March 31, 2015, $1.1 billion at December 31, 2014 and $1.2 billion at March 31, 2014, were pledged as collateral for public deposits, trust deposits, FHLB advances, securities sold under repurchase agreements and derivatives. At March 31, 2015, there were no securities of a single issuer, other than U.S. Government-sponsored agency securities, which exceeded 10% of shareholders’ equity.
Loans
Loans
Loans
The following table shows the Company’s loan portfolio by category as of the dates shown:
 
March 31,
 
December 31,
 
March 31,
(Dollars in thousands)
2015
 
2014
 
2014
Balance:
 
 
 
 
 
Commercial
$
4,211,932

 
$
3,924,394

 
$
3,439,197

Commercial real-estate
4,710,486

 
4,505,753

 
4,262,255

Home equity
709,283

 
716,293

 
707,748

Residential real-estate
495,925

 
483,542

 
426,769

Premium finance receivables—commercial
2,319,623

 
2,350,833

 
2,208,361

Premium finance receivables—life insurance
2,375,654

 
2,277,571

 
1,929,334

Consumer and other
130,156

 
151,012

 
159,496

Total loans, net of unearned income, excluding covered loans
$
14,953,059

 
$
14,409,398

 
$
13,133,160

Covered loans
209,694

 
226,709

 
312,478

Total loans
$
15,162,753

 
$
14,636,107

 
$
13,445,638

Mix:
 
 
 
 
 
Commercial
28
%
 
26
%
 
26
%
Commercial real-estate
31

 
31

 
32

Home equity
5

 
5

 
5

Residential real-estate
3

 
3

 
3

Premium finance receivables—commercial
15

 
16

 
17

Premium finance receivables—life insurance
16

 
16

 
14

Consumer and other
1

 
1

 
1

Total loans, net of unearned income, excluding covered loans
99
%
 
98
%
 
98
%
Covered loans
1

 
2

 
2

Total loans
100
%
 
100
%
 
100
%

The Company’s loan portfolio is generally comprised of loans to consumers and small to medium-sized businesses located within the geographic market areas that the banks serve. The premium finance receivables portfolios are made to customers throughout the United States and Canada. The Company strives to maintain a loan portfolio that is diverse in terms of loan type, industry, borrower and geographic concentrations. Such diversification reduces the exposure to economic downturns that may occur in different segments of the economy or in different industries.
Certain premium finance receivables are recorded net of unearned income. The unearned income portions of such premium finance receivables were $48.1 million at March 31, 2015, $46.9 million at December 31, 2014 and $40.3 million at March 31, 2014, respectively. Certain life insurance premium finance receivables attributable to the life insurance premium finance loan acquisition in 2009 as well as PCI loans are recorded net of credit discounts. See “Acquired Loan Information at Acquisition” below.
Total loans, excluding PCI loans, include net deferred loan fees and costs and fair value purchase accounting adjustments totaling $(3.7) million at March 31, 2015, $330,000 at December 31, 2014 and $(6.2) million at March 31, 2014. The net credit balances at March 31, 2015 and March 31, 2014 are primarily the result of purchase accounting adjustments related to acquisitions in 2015 and 2014.
It is the policy of the Company to review each prospective credit in order to determine the appropriateness and, when required, the adequacy of security or collateral necessary to obtain when making a loan. The type of collateral, when required, will vary from liquid assets to real estate. The Company seeks to ensure access to collateral, in the event of default, through adherence to state lending laws and the Company’s credit monitoring procedures.
Acquired Loan Information at Acquisition—PCI Loans
As part of our previous acquisitions, we acquired loans for which there was evidence of credit quality deterioration since origination (PCI loans) and we determined that it was probable that the Company would be unable to collect all contractually required principal and interest payments. The following table presents the unpaid principal balance and carrying value for these acquired loans:
 
March 31, 2015
 
December 31, 2014
 
Unpaid
Principal
 
Carrying
 
Unpaid
Principal
 
Carrying
(Dollars in thousands)
Balance
 
Value
 
Balance
 
Value
Bank acquisitions
$
277,163

 
$
222,837

 
$
285,809

 
$
227,229

Life insurance premium finance loans acquisition
394,632

 
389,048

 
399,665

 
393,479



The following table provides estimated details as of the date of acquisition on loans acquired in 2015 with evidence of credit quality deterioration since origination:
(Dollars in thousands)
Delavan
Contractually required payments including interest
$
15,791

Less: Nonaccretable difference
1,442

   Cash flows expected to be collected (1)  
14,349

Less: Accretable yield
898

    Fair value of PCI loans acquired
13,451


(1) Represents undiscounted expected principal and interest cash at acquisition.
See Note 7—Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans for further discussion regarding the allowance for loan losses associated with PCI loans at March 31, 2015.
Accretable Yield Activity - PCI Loans
Changes in expected cash flows may vary from period to period as the Company periodically updates its cash flow model assumptions for PCI loans. The factors that most significantly affect the estimates of gross cash flows expected to be collected, and accordingly the accretable yield, include changes in the benchmark interest rate indices for variable-rate products and changes in prepayment assumptions and loss estimates. The following table provides activity for the accretable yield of PCI loans:

Three Months Ended
March 31, 2015
 
Three Months Ended
March 31, 2014
(Dollars in thousands)
Bank Acquisitions

Life Insurance
Premium Finance Loans

Bank
Acquisitions

Life Insurance
Premium
Finance Loans
Accretable yield, beginning balance
$
77,485


$
1,617


$
107,655


$
8,254

Acquisitions
898


—


—


—

Accretable yield amortized to interest income
(5,504
)

(601
)

(7,770
)

(1,771
)
Accretable yield amortized to indemnification asset (1)
(3,576
)

—


(5,648
)

—

Reclassification from non-accretable difference (2)
1,103


—


8,580


—

Increases (decreases) in interest cash flows due to payments and changes in interest rates
(1,224
)

—


(5,143
)

78

Accretable yield, ending balance (3)
$
69,182


$
1,016


$
97,674


$
6,561



(1)
Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnification asset.
(2)
Reclassification is the result of subsequent increases in expected principal cash flows.
(3)
As of March 31, 2015, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $15.8 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income.

Accretion to interest income from loans acquired in bank acquisitions totaled $5.5 million and $7.8 million in the first quarter of 2015 and 2014, respectively. These amounts include accretion from both covered and non-covered loans, and are included together within interest and fees on loans in the Consolidated Statements of Income.
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans
The tables below show the aging of the Company’s loan portfolio at March 31, 2015, December 31, 2014 and March 31, 2014:
As of March 31, 2015
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(Dollars in thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
5,586

 
$
—

 
$
4,756

 
$
16,949

 
$
2,457,174

 
$
2,484,465

Franchise
—

 
—

 
—

 
457

 
225,305

 
225,762

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
186,372

 
186,372

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
108,382

 
108,382

Aircraft
—

 
—

 
291

 
389

 
6,295

 
6,975

Asset-based lending
—

 
—

 
—

 
4,819

 
805,866

 
810,685

Tax exempt
—

 
—

 
—

 
—

 
205,195

 
205,195

Leases
—

 
—

 
65

 
517

 
171,432

 
172,014

Other
—

 
—

 
—

 
—

 
2,735

 
2,735

PCI - commercial (1)
—

 
612

 
—

 
—

 
8,735

 
9,347

Total commercial
5,586

 
612

 
5,112

 
23,131

 
4,177,491

 
4,211,932

Commercial real-estate:
 
 
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
46,796

 
46,796

Commercial construction
—

 
—

 
—

 
992

 
209,039

 
210,031

Land
2,646

 
—

 
—

 
1,942

 
84,454

 
89,042

Office
8,243

 
—

 
171

 
3,144

 
731,568

 
743,126

Industrial
3,496

 
—

 
61

 
1,719

 
599,050

 
604,326

Retail
4,975

 
—

 
—

 
2,562

 
734,990

 
742,527

Multi-family
1,750

 
—

 
393

 
3,671

 
649,589

 
655,403

Mixed use and other
8,872

 
—

 
808

 
10,847

 
1,532,036

 
1,552,563

PCI - commercial real-estate (1)
—

 
18,120

 
4,639

 
3,242

 
40,671

 
66,672

Total commercial real-estate
29,982

 
18,120

 
6,072

 
28,119

 
4,628,193

 
4,710,486

Home equity
7,665

 
—

 
693

 
2,825

 
698,100

 
709,283

Residential real estate
14,248

 
—

 
753

 
8,735

 
469,826

 
493,562

PCI - residential real estate (1)
—

 
266

 
—

 
84

 
2,013

 
2,363

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
15,902

 
8,062

 
4,476

 
19,392

 
2,271,791

 
2,319,623

Life insurance loans
—

 
—

 
8,994

 
5,415

 
1,972,197

 
1,986,606

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
389,048

 
389,048

Consumer and other
236

 
91

 
111

 
634

 
129,084

 
130,156

Total loans, net of unearned income, excluding covered loans
$
73,619

 
$
27,151

 
$
26,211

 
$
88,335

 
$
14,737,743

 
$
14,953,059

Covered loans
7,079

 
16,434

 
558

 
6,128

 
179,495

 
209,694

Total loans, net of unearned income
$
80,698

 
$
43,585

 
$
26,769

 
$
94,463

 
$
14,917,238

 
$
15,162,753


(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.
As of December 31, 2014
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(Dollars in thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
9,132

 
$
474

 
$
3,161

 
$
7,492

 
$
2,213,105

 
$
2,233,364

Franchise
—

 
—

 
308

 
1,219

 
231,789

 
233,316

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
139,003

 
139,003

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
106,364

 
106,364

Aircraft
—

 
—

 
—

 
—

 
8,065

 
8,065

Asset-based lending
25

 
—

 
1,375

 
2,394

 
802,608

 
806,402

Tax exempt
—

 
—

 
—

 
—

 
217,487

 
217,487

Leases
—

 
—

 
77

 
315

 
159,744

 
160,136

Other
—

 
—

 
—

 
—

 
11,034

 
11,034

PCI - commercial (1)
—

 
365

 
202

 
138

 
8,518

 
9,223

Total commercial
9,157

 
839

 
5,123

 
11,558

 
3,897,717

 
3,924,394

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
250

 
76

 
38,370

 
38,696

Commercial construction
230

 
—

 
—

 
2,023

 
185,513

 
187,766

Land
2,656

 
—

 
—

 
2,395

 
86,779

 
91,830

Office
7,288

 
—

 
2,621

 
1,374

 
694,149

 
705,432

Industrial
2,392

 
—

 
—

 
3,758

 
617,820

 
623,970

Retail
4,152

 
—

 
116

 
3,301

 
723,919

 
731,488

Multi-family
249

 
—

 
249

 
1,921

 
603,323

 
605,742

Mixed use and other
9,638

 
—

 
2,603

 
9,023

 
1,443,853

 
1,465,117

PCI - commercial real-estate (1)
—

 
10,976

 
6,393

 
4,016

 
34,327

 
55,712

Total commercial real-estate
26,605

 
10,976

 
12,232

 
27,887

 
4,428,053

 
4,505,753

Home equity
6,174

 
—

 
983

 
3,513

 
705,623

 
716,293

Residential real-estate
15,502

 
—

 
267

 
6,315

 
459,224

 
481,308

PCI - residential real-estate (1)
—

 
549

 
—

 
—

 
1,685

 
2,234

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
12,705

 
7,665

 
5,995

 
17,328

 
2,307,140

 
2,350,833

Life insurance loans
—

 
—

 
13,084

 
339

 
1,870,669

 
1,884,092

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
393,479

 
393,479

Consumer and other
277

 
119

 
293

 
838

 
149,485

 
151,012

Total loans, net of unearned income, excluding covered loans
$
70,420

 
$
20,148

 
$
37,977

 
$
67,778

 
$
14,213,075

 
$
14,409,398

Covered loans
7,290

 
17,839

 
1,304

 
4,835

 
195,441

 
226,709

Total loans, net of unearned income
$
77,710

 
$
37,987

 
$
39,281

 
$
72,613

 
$
14,408,516

 
$
14,636,107

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.
As of March 31, 2014
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(Dollars in thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
11,112

 
$
387

 
$
2,235

 
$
16,150

 
$
1,965,425

 
$
1,995,309

Franchise
—

 
—

 
—

 
75

 
221,026

 
221,101

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
60,809

 
60,809

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
91,414

 
91,414

Aircraft
—

 
—

 
—

 
—

 
8,840

 
8,840

Asset-based lending
670

 
—

 
—

 
10,573

 
729,425

 
740,668

Tax exempt
—

 
—

 
—

 
—

 
177,973

 
177,973

Leases
—

 
—

 
—

 
—

 
121,986

 
121,986

Other
—

 
—

 
—

 
—

 
10,261

 
10,261

PCI - commercial (1)
—

 
1,079

 
—

 
865

 
8,892

 
10,836

Total commercial
11,782

 
1,466

 
2,235

 
27,663

 
3,396,051

 
3,439,197

Commercial real-estate:
 
 
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
680

 
27

 
35,690

 
36,397

Commercial construction
844

 
—

 
—

 
—

 
150,786

 
151,630

Land
2,405

 
—

 
2,682

 
3,438

 
99,445

 
107,970

Office
6,970

 
—

 
1,672

 
8,868

 
633,655

 
651,165

Industrial
6,101

 
—

 
1,114

 
2,706

 
615,139

 
625,060

Retail
9,540

 
—

 
217

 
3,089

 
664,584

 
677,430

Multi-family
1,327

 
—

 
—

 
3,820

 
570,616

 
575,763

Mixed use and other
6,546

 
—

 
6,626

 
10,744

 
1,337,320

 
1,361,236

PCI - commercial real-estate (1)
—

 
21,073

 
2,791

 
6,169

 
45,571

 
75,604

Total commercial real-estate
33,733

 
21,073

 
15,782

 
38,861

 
4,152,806

 
4,262,255

Home equity
7,311

 
—

 
1,650

 
4,972

 
693,815

 
707,748

Residential real estate
14,385

 
—

 
946

 
4,889

 
403,474

 
423,694

PCI - residential real estate (1)
—

 
1,414

 
—

 
248

 
1,413

 
3,075

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
14,517

 
6,808

 
5,600

 
20,777

 
2,160,659

 
2,208,361

Life insurance loans
—

 
—

 
—

 
4,312

 
1,511,820

 
1,516,132

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
413,202

 
413,202

Consumer and other
1,144

 
105

 
213

 
570

 
157,464

 
159,496

Total loans, net of unearned income, excluding covered loans
$
82,872

 
$
30,866

 
$
26,426

 
$
102,292

 
$
12,890,704

 
$
13,133,160

Covered loans
9,136

 
35,831

 
6,682

 
7,042

 
253,787

 
312,478

Total loans, net of unearned income
$
92,008

 
$
66,697

 
$
33,108

 
$
109,334

 
$
13,144,491

 
$
13,445,638

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.
Our ability to manage credit risk depends in large part on our ability to properly identify and manage problem loans. To do so, the Company operates a credit risk rating system under which our credit management personnel assign a credit risk rating (1 to 10 rating) to each loan at the time of origination and review loans on a regular basis.
Each loan officer is responsible for monitoring his or her loan portfolio, recommending a credit risk rating for each loan in his or her portfolio and ensuring the credit risk ratings are appropriate. These credit risk ratings are then ratified by the bank’s chief credit officer and/or concurrence credit officer. Credit risk ratings are determined by evaluating a number of factors including: a borrower’s financial strength, cash flow coverage, collateral protection and guarantees.
The Company’s Problem Loan Reporting system automatically includes all loans with credit risk ratings of 6 through 9. This system is designed to provide an on-going detailed tracking mechanism for each problem loan. Once management determines that a loan has deteriorated to a point where it has a credit risk rating of 6 or worse, the Company’s Managed Asset Division performs an overall credit and collateral review. As part of this review, all underlying collateral is identified and the valuation methodology is analyzed and tracked. As a result of this initial review by the Company’s Managed Asset Division, the credit risk rating is reviewed and a portion of the outstanding loan balance may be deemed uncollectible or an impairment reserve may be established. The Company’s impairment analysis utilizes an independent re-appraisal of the collateral (unless such a third-party evaluation is not possible due to the unique nature of the collateral, such as a closely-held business or thinly traded securities). In the case of commercial real-estate collateral, an independent third party appraisal is ordered by the Company’s Real Estate Services Group to determine if there has been any change in the underlying collateral value. These independent appraisals are reviewed by the Real Estate Services Group and sometimes by independent third party valuation experts and may be adjusted depending upon market conditions.
Through the credit risk rating process, loans are reviewed to determine if they are performing in accordance with the original contractual terms. If the borrower has failed to comply with the original contractual terms, further action may be required by the Company, including a downgrade in the credit risk rating, movement to non-accrual status, a charge-off or the establishment of a specific impairment reserve. If we determine that a loan amount, or portion thereof, is uncollectible, the loan’s credit risk rating is immediately downgraded to an 8 or 9 and the uncollectible amount is charged-off. Any loan that has a partial charge-off continues to be assigned a credit risk rating of an 8 or 9 for the duration of time that a balance remains outstanding. The Company undertakes a thorough and ongoing analysis to determine if additional impairment and/or charge-offs are appropriate and to begin a workout plan for the credit to minimize actual losses.
If, based on current information and events, it is probable that the Company will be unable to collect all amounts due to it according to the contractual terms of the loan agreement, a specific impairment reserve is established. In determining the appropriate charge-off for collateral-dependent loans, the Company considers the results of appraisals for the associated collateral.
Non-performing loans include all non-accrual loans (8 and 9 risk ratings) as well as loans 90 days past due and still accruing interest, excluding PCI loans. The remainder of the portfolio is considered performing under the contractual terms of the loan agreement. The following table presents the recorded investment based on performance of loans by class, excluding covered loans, per the most recent analysis at March 31, 2015, December 31, 2014 and March 31, 2014:
 
 
Performing
 
Non-performing
 
Total
(Dollars in thousands)
March 31,
2015
 
December 31, 2014
 
March 31,
2014
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
 
March 31,
2015
 
December 31, 2014
 
March 31,
2014
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
2,478,879

 
$
2,223,758

 
$
1,983,810

 
$
5,586

 
$
9,606

 
$
11,499

 
$
2,484,465

 
$
2,233,364

 
$
1,995,309

Franchise
225,762

 
233,316

 
221,101

 
—

 
—

 
—

 
225,762

 
233,316

 
221,101

Mortgage warehouse lines of credit
186,372

 
139,003

 
60,809

 
—

 
—

 
—

 
186,372

 
139,003

 
60,809

Community Advantage—homeowners association
108,382

 
106,364

 
91,414

 
—

 
—

 
—

 
108,382

 
106,364

 
91,414

Aircraft
6,975

 
8,065

 
8,840

 
—

 
—

 
—

 
6,975

 
8,065

 
8,840

Asset-based lending
810,685

 
806,377

 
739,998

 
—

 
25

 
670

 
810,685

 
806,402

 
740,668

Tax exempt
205,195

 
217,487

 
177,973

 
—

 
—

 
—

 
205,195

 
217,487

 
177,973

Leases
172,014

 
160,136

 
121,986

 
—

 
—

 
—

 
172,014

 
160,136

 
121,986

Other
2,735

 
11,034

 
10,261

 
—

 
—

 
—

 
2,735

 
11,034

 
10,261

PCI - commercial (1)
9,347

 
9,223

 
10,836

 
—

 
—

 
—

 
9,347

 
9,223

 
10,836

Total commercial
4,206,346

 
3,914,763

 
3,427,028

 
5,586

 
9,631

 
12,169

 
4,211,932

 
3,924,394

 
3,439,197

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential construction
46,796

 
38,696

 
36,397

 
—

 
—

 
—

 
46,796

 
38,696

 
36,397

Commercial construction
210,031

 
187,536

 
150,786

 
—

 
230

 
844

 
210,031

 
187,766

 
151,630

Land
86,396

 
89,174

 
105,565

 
2,646

 
2,656

 
2,405

 
89,042

 
91,830

 
107,970

Office
734,883

 
698,144

 
644,195

 
8,243

 
7,288

 
6,970

 
743,126

 
705,432

 
651,165

Industrial
600,830

 
621,578

 
618,959

 
3,496

 
2,392

 
6,101

 
604,326

 
623,970

 
625,060

Retail
737,552

 
727,336

 
667,890

 
4,975

 
4,152

 
9,540

 
742,527

 
731,488

 
677,430

Multi-family
653,653

 
605,493

 
574,436

 
1,750

 
249

 
1,327

 
655,403

 
605,742

 
575,763

Mixed use and other
1,543,691

 
1,455,479

 
1,354,690

 
8,872

 
9,638

 
6,546

 
1,552,563

 
1,465,117

 
1,361,236

PCI - commercial real-estate(1)
66,672

 
55,712

 
75,604

 
—

 
—

 
—

 
66,672

 
55,712

 
75,604

Total commercial real-estate
4,680,504

 
4,479,148

 
4,228,522

 
29,982

 
26,605

 
33,733

 
4,710,486

 
4,505,753

 
4,262,255

Home equity
701,618

 
710,119

 
700,437

 
7,665

 
6,174

 
7,311

 
709,283

 
716,293

 
707,748

Residential real-estate
479,314

 
465,806

 
409,309

 
14,248

 
15,502

 
14,385

 
493,562

 
481,308

 
423,694

PCI - residential real-estate (1)
2,363

 
2,234

 
3,075

 
—

 
—

 
—

 
2,363

 
2,234

 
3,075

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
2,295,659

 
2,330,463

 
2,187,036

 
23,964

 
20,370

 
21,325

 
2,319,623

 
2,350,833

 
2,208,361

Life insurance loans
1,986,606

 
1,884,092

 
1,516,132

 
—

 
—

 
—

 
1,986,606

 
1,884,092

 
1,516,132

PCI - life insurance loans (1)
389,048

 
393,479

 
413,202

 
—

 
—

 
—

 
389,048

 
393,479

 
413,202

Consumer and other
129,829

 
150,617

 
158,295

 
327

 
395

 
1,201

 
130,156

 
151,012

 
159,496

Total loans, net of unearned income, excluding covered loans
$
14,871,287

 
$
14,330,721

 
$
13,043,036

 
$
81,772

 
$
78,677

 
$
90,124

 
$
14,953,059

 
$
14,409,398

 
$
13,133,160

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. See Note 6 - Loans for further discussion of these purchased loans.

A summary of activity in the allowance for credit losses by loan portfolio (excluding covered loans) for the three months ended March 31, 2015 and 2014 is as follows:
Three months ended March 31, 2015
 
 
Commercial Real-estate
 
Home  Equity
 
Residential Real-estate
 
Premium Finance Receivable
 
Consumer and Other
 
Total, Excluding Covered Loans
(Dollars in thousands)
Commercial
 
 
 
 
 
 
Allowance for credit losses
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at beginning of period
$
31,699

 
$
35,533

 
$
12,500

 
$
4,218

 
$
6,513

 
$
1,242

 
$
91,705

Other adjustments
(17
)
 
(180
)
 
—

 
(3
)
 
(48
)
 
—

 
(248
)
Reclassification from allowance for unfunded lending-related commitments
—

 
(113
)
 
—

 
—

 
—

 
—

 
(113
)
Charge-offs
(677
)
 
(1,005
)
 
(584
)
 
(631
)
 
(1,263
)
 
(111
)
 
(4,271
)
Recoveries
370

 
312

 
48

 
76

 
329

 
53

 
1,188

Provision for credit losses
2,351

 
2,455

 
700

 
436

 
461

 
(218
)
 
6,185

Allowance for loan losses at period end
$
33,726

 
$
37,002

 
$
12,664

 
$
4,096

 
$
5,992

 
$
966

 
$
94,446

Allowance for unfunded lending-related commitments at period end
$
—

 
$
888

 
$
—

 
$
—

 
$
—

 
$
—

 
$
888

Allowance for credit losses at period end
$
33,726

 
$
37,890

 
$
12,664

 
$
4,096

 
$
5,992

 
$
966

 
$
95,334

Individually evaluated for impairment
$
1,814

 
$
3,256

 
$
948

 
$
208

 
$
—

 
$
26

 
$
6,252

Collectively evaluated for impairment
31,912

 
34,521

 
11,716

 
3,794

 
5,992

 
940

 
88,875

Loans acquired with deteriorated credit quality
—

 
113

 
—

 
94

 
—

 
—

 
207

Loans at period end
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
12,361

 
$
75,886

 
$
7,879

 
$
17,144

 
$
—

 
$
381

 
$
113,651

Collectively evaluated for impairment
4,190,224

 
4,567,928

 
701,404

 
476,418

 
4,306,229

 
129,775

 
14,371,978

Loans acquired with deteriorated credit quality
9,347

 
66,672

 
—

 
2,363

 
389,048

 
—

 
467,430


Three months ended March 31, 2014
Commercial
 
Commercial Real-estate
 
Home  Equity
 
Residential Real-estate
 
Premium Finance Receivable
 
Consumer and Other
 
Total, Excluding Covered Loans
(Dollars in thousands)
 
 
 
 
 
 
Allowance for credit losses
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at beginning of period
$
23,092

 
$
48,658

 
$
12,611

 
$
5,108

 
$
5,583

 
$
1,870

 
$
96,922

Other adjustments
(15
)
 
(121
)
 
(1
)
 
(2
)
 
(9
)
 
—

 
(148
)
Reclassification from allowance for unfunded lending-related commitments
—

 
(18
)
 
—

 
—

 
—

 
—

 
(18
)
Charge-offs
(648
)
 
(4,493
)
 
(2,267
)
 
(226
)
 
(1,210
)
 
(173
)
 
(9,017
)
Recoveries
317

 
145

 
257

 
131

 
321

 
61

 
1,232

Provision for credit losses
1,943

 
434

 
366

 
(320
)
 
897

 
(16
)
 
3,304

Allowance for loan losses at period end
$
24,689

 
$
44,605

 
$
10,966

 
$
4,691

 
$
5,582

 
$
1,742

 
$
92,275

Allowance for unfunded lending-related commitments at period end
$
—

 
$
737

 
$
—

 
$
—

 
$
—

 
$
—

 
$
737

Allowance for credit losses at period end
$
24,689

 
$
45,342

 
$
10,966

 
$
4,691

 
$
5,582

 
$
1,742

 
$
93,012

Individually evaluated for impairment
$
3,107

 
$
4,041

 
$
596

 
$
455

 
$
—

 
$
95

 
$
8,294

Collectively evaluated for impairment
21,512

 
41,301

 
10,370

 
4,147

 
5,582

 
1,647

 
84,559

Loans acquired with deteriorated credit quality
70

 
—

 
—

 
89

 
—

 
—

 
159

Loans at period end
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
18,350

 
$
99,480

 
$
7,537

 
$
18,026

 
$
—

 
$
1,592

 
$
144,985

Collectively evaluated for impairment
3,410,011

 
4,087,171

 
700,211

 
405,668

 
3,724,493

 
157,662

 
12,485,216

Loans acquired with deteriorated credit quality
10,836

 
75,604

 
—

 
3,075

 
413,202

 
242

 
502,959





A summary of activity in the allowance for covered loan losses for the three months ended March 31, 2015 and 2014 is as follows:
 
Three Months Ended
 
March 31,
 
March 31,
(Dollars in thousands)
2015
 
2014
Balance at beginning of period
$
2,131

 
$
10,092

Provision for covered loan losses before benefit attributable to FDIC loss share agreements
(529
)
 
(7,121
)
Benefit attributable to FDIC loss share agreements
423

 
5,697

Net provision for covered loan losses
(106
)
 
(1,424
)
Decrease in FDIC indemnification asset
(423
)
 
(5,697
)
Loans charged-off
(237
)
 
(2,864
)
Recoveries of loans charged-off
513

 
3,340

Net recoveries
276

 
476

Balance at end of period
$
1,878

 
$
3,447


In conjunction with FDIC-assisted transactions, the Company entered into loss share agreements with the FDIC. Additional expected losses, to the extent such expected losses result in the recognition of an allowance for loan losses, will increase the FDIC indemnification asset. The allowance for loan losses for loans acquired in FDIC-assisted transactions is determined without giving consideration to the amounts recoverable through loss share agreements (since the loss share agreements are separately accounted for and thus presented “gross” on the balance sheet). On the Consolidated Statements of Income, the provision for credit losses is reported net of changes in the amount recoverable under the loss share agreements. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will reduce the FDIC indemnification asset. Additions to expected losses will require an increase to the allowance for loan losses, and a corresponding increase to the FDIC indemnification asset. See “FDIC-Assisted Transactions” within Note 3 – Business Combinations for more detail.
Impaired Loans
A summary of impaired loans, including troubled debt restructurings ("TDRs"), is as follows:
 
March 31,
 
December 31,
 
March 31,
(Dollars in thousands)
2015
 
2014
 
2014
Impaired loans (included in non-performing and TDRs):
 
 
 
 
 
Impaired loans with an allowance for loan loss required (1)
$
48,610

 
$
69,487

 
$
86,381

Impaired loans with no allowance for loan loss required
63,794

 
57,925

 
56,596

Total impaired loans (2)
$
112,404

 
$
127,412

 
$
142,977

Allowance for loan losses related to impaired loans
$
6,199

 
$
6,270

 
$
8,197

TDRs
$
67,218

 
$
82,275

 
$
92,517

 
(1)
These impaired loans require an allowance for loan losses because the estimated fair value of the loans or related collateral is less than the recorded investment in the loans.
(2)
Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest.

The following tables present impaired loans evaluated for impairment by loan class for the periods ended as follows:
 
 
 
 
 
 
 
For the Three Months Ended
 
As of March 31, 2015
 
March 31, 2015
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(Dollars in thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
7,230

 
$
7,830

 
$
1,795

 
$
7,465

 
$
92

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
—

 
—

 
—

 
—

 
—

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
—

 
—

 
—

 
—

 
—

Land
4,475

 
8,090

 
29

 
4,734

 
127

Office
8,354

 
11,053

 
598

 
8,399

 
131

Industrial
1,402

 
1,487

 
559

 
1,406

 
20

Retail
10,259

 
12,286

 
371

 
10,294

 
128

Multi-family
2,266

 
2,363

 
241

 
2,273

 
26

Mixed use and other
7,891

 
10,041

 
1,449

 
7,907

 
116

Home equity
2,807

 
2,962

 
948

 
2,809

 
29

Residential real-estate
3,728

 
3,934

 
183

 
3,724

 
45

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

PCI - life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
198

 
200

 
26

 
203

 
4

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
4,630

 
$
7,595

 
$
—

 
$
4,647

 
$
125

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
—

 
—

 
—

 
—

 
—

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
2,645

 
2,645

 
—

 
2,645

 
30

Land
5,134

 
5,868

 
—

 
5,137

 
62

Office
6,890

 
6,965

 
—

 
6,971

 
77

Industrial
2,772

 
3,134

 
—

 
2,837

 
55

Retail
5,053

 
9,130

 
—

 
5,315

 
105

Multi-family
777

 
1,199

 
—

 
778

 
13

Mixed use and other
17,479

 
17,723

 
—

 
17,688

 
185

Home equity
5,072

 
6,771

 
—

 
5,126

 
70

Residential real-estate
13,159

 
14,644

 
—

 
13,190

 
145

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

PCI - life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
183

 
249

 
—

 
145

 
3

Total loans, net of unearned income, excluding covered loans
$
112,404

 
$
136,169

 
$
6,199

 
$
113,693

 
$
1,588

 
 
 
 
 
 
 
For the Twelve Months Ended
 
As of December 31, 2014
 
December 31, 2014
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(Dollars in thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
9,989

 
$
10,785

 
$
1,915

 
$
10,784

 
$
539

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
—

 
—

 
—

 
—

 
—

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
—

 
—

 
—

 
—

 
—

Land
5,011

 
8,626

 
43

 
5,933

 
544

Office
11,038

 
12,863

 
305

 
11,567

 
576

Industrial
195

 
277

 
15

 
214

 
13

Retail
11,045

 
14,566

 
487

 
12,116

 
606

Multi-family
2,808

 
3,321

 
158

 
2,839

 
145

Mixed use and other
21,777

 
24,076

 
2,240

 
21,483

 
1,017

Home equity
1,946

 
2,055

 
475

 
1,995

 
80

Residential real-estate
5,467

 
5,600

 
606

 
5,399

 
241

Premium finance receivables
 
 
—

 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

Purchased life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
211

 
213

 
26

 
214

 
10

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
5,797

 
$
8,862

 
$
—

 
$
6,664

 
$
595

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
25

 
1,952

 
—

 
87

 
100

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
2,875

 
3,085

 
—

 
3,183

 
151

Land
10,210

 
10,941

 
—

 
10,268

 
430

Office
4,132

 
5,020

 
—

 
4,445

 
216

Industrial
4,160

 
4,498

 
—

 
3,807

 
286

Retail
5,487

 
7,470

 
—

 
6,915

 
330

Multi-family
—

 
—

 
—

 
—

 
—

Mixed use and other
7,985

 
8,804

 
—

 
9,533

 
449

Home equity
4,453

 
6,172

 
—

 
4,666

 
256

Residential real-estate
12,640

 
14,334

 
—

 
12,682

 
595

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

Purchased life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
161

 
222

 
—

 
173

 
11

Total loans, net of unearned income, excluding covered loans
$
127,412

 
$
153,742

 
$
6,270

 
$
134,967

 
$
7,190

 
 
 
 
 
 
 
For the Three Months Ended
 
As of March 31, 2014
 
March 31, 2014
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(Dollars in thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
9,167

 
$
10,029

 
$
2,459

 
$
9,340

 
$
120

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
670

 
2,465

 
620

 
677

 
31

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
3,099

 
3,099

 
24

 
3,099

 
28

Land
9,260

 
9,625

 
174

 
9,688

 
79

Office
8,712

 
9,398

 
1,069

 
8,767

 
90

Industrial
6,597

 
6,765

 
513

 
5,985

 
81

Retail
12,763

 
12,903

 
826

 
12,819

 
132

Multi-family
2,053

 
2,143

 
122

 
2,057

 
23

Mixed use and other
25,420

 
25,591

 
1,272

 
25,853

 
291

Home equity
2,109

 
2,534

 
596

 
2,117

 
24

Residential real-estate
6,222

 
6,362

 
427

 
6,094

 
68

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

Purchased life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
309

 
367

 
95

 
290

 
5

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
7,789

 
$
14,415

 
$
—

 
$
8,179

 
$
208

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
—

 
—

 
—

 
—

 
—

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
891

 
891

 
—

 
1,245

 
12

Commercial construction
1,466

 
1,471

 
—

 
1,418

 
17

Land
4,982

 
8,764

 
—

 
4,985

 
109

Office
6,260

 
6,301

 
—

 
6,266

 
83

Industrial
2,298

 
2,470

 
—

 
2,314

 
47

Retail
10,419

 
12,273

 
—

 
11,006

 
140

Multi-family
1,078

 
2,013

 
—

 
1,201

 
23

Mixed use and other
3,161

 
5,044

 
—

 
3,096

 
67

Home equity
5,428

 
7,044

 
—

 
5,777

 
73

Residential real-estate
11,541

 
14,427

 
—

 
11,699

 
137

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

Purchased life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
1,283

 
1,809

 
—

 
1,285

 
27

Total loans, net of unearned income, excluding covered loans
$
142,977

 
$
168,203

 
$
8,197

 
$
145,257

 
$
1,915







TDRs
At March 31, 2015, the Company had $67.2 million in loans modified in TDRs. The $67.2 million in TDRs represents 125 credits in which economic concessions were granted to certain borrowers to better align the terms of their loans with their current ability to pay.
The Company’s approach to restructuring loans, excluding PCI loans, is built on its credit risk rating system which requires credit management personnel to assign a credit risk rating to each loan. In each case, the loan officer is responsible for recommending a credit risk rating for each loan and ensuring the credit risk ratings are appropriate. These credit risk ratings are then reviewed and approved by the bank’s chief credit officer and/or concurrence credit officer. Credit risk ratings are determined by evaluating a number of factors including a borrower’s financial strength, cash flow coverage, collateral protection and guarantees. The Company’s credit risk rating scale is one through ten with higher scores indicating higher risk. In the case of loans rated six or worse following modification, the Company’s Managed Assets Division evaluates the loan and the credit risk rating and determines that the loan has been restructured to be reasonably assured of repayment and of performance according to the modified terms and is supported by a current, well-documented credit assessment of the borrower’s financial condition and prospects for repayment under the revised terms.
A modification of a loan, excluding PCI loans, with an existing credit risk rating of six or worse or a modification of any other credit which will result in a restructured credit risk rating of six or worse, must be reviewed for possible TDR classification. In that event, our Managed Assets Division conducts an overall credit and collateral review. A modification of these loans is considered to be a TDR if both (1) the borrower is experiencing financial difficulty and (2) for economic or legal reasons, the bank grants a concession to a borrower that it would not otherwise consider. The modification of a loan, excluding PCI loans, where the credit risk rating is five or better both before and after such modification is not considered to be a TDR. Based on the Company’s credit risk rating system, it considers that borrowers whose credit risk rating is five or better are not experiencing financial difficulties and therefore, are not considered TDRs.
All credits determined to be a TDR will continue to be classified as a TDR in all subsequent periods, unless at any subsequent re-modification the borrower has been in compliance with the loan’s modified terms for a period of six months (including over a calendar year-end) and the current interest rate represents a market rate at the time of restructuring. The Managed Assets Division, in consultation with the respective loan officer, determines whether the modified interest rate represented a current market rate at the time of restructuring. Using knowledge of current market conditions and rates, competitive pricing on recent loan originations, and an assessment of various characteristics of the modified loan (including collateral position and payment history), an appropriate market rate for a new borrower with similar risk is determined. If the modified interest rate meets or exceeds this market rate for a new borrower with similar risk, the modified interest rate represents a market rate at the time of restructuring. Additionally, before removing a loan from TDR classification, a review of the current or previously measured impairment on the loan and any concerns related to future performance by the borrower is conducted. If concerns exist about the future ability of the borrower to meet its obligations under the loans based on a credit review by the Managed Assets Division, the TDR classification is not removed from the loan.
TDRs are reviewed at the time of the modification and on a quarterly basis to determine if a specific reserve is necessary. The carrying amount of the loan is compared to the expected payments to be received, discounted at the loan's original rate, or for collateral dependent loans, to the fair value of the collateral. Any shortfall is recorded as a specific reserve. The Company, in accordance with ASC 310-10, continues to individually measure impairment of these loans after the TDR classification is removed.
Each TDR was reviewed for impairment at March 31, 2015 and approximately $866,000 of impairment was present and appropriately reserved for through the Company’s normal reserving methodology in the Company’s allowance for loan losses. For TDRs in which impairment is calculated by the present value of future cash flows, the Company records interest income representing the decrease in impairment resulting from the passage of time during the respective period, which differs from interest income from contractually required interest on these specific loans.  During the three months ended March 31, 2015 and 2014, the Company recorded $193,000 and $132,000, respectively, in interest income representing this decrease in impairment.
TDRs may arise in which, due to financial difficulties experienced by the borrower, the Company obtains through physical possession one or more collateral assets in satisfaction of all or part of an existing credit. Once possession is obtained, the Company reclassifies the appropriate portion of the remaining balance of the credit from loans to OREO, which is included within other assets in the Consolidated Statements of Condition. For any residential real estate property collateralizing a consumer mortgage loan, the Company is considered to possess the related collateral only if legal title is obtained upon completion of foreclosure, or the borrower conveys all interest in the residential real estate property to the Company through completion of a deed in lieu of foreclosure or similar legal agreement. Excluding covered OREO, at March 31, 2015, the Company had $9.9 million of foreclosed residential real estate properties included within OREO.

The tables below present a summary of the post-modification balance of loans restructured during the three months ended March 31, 2015 and 2014, respectively, which represent TDRs:
 
Three months ended
March 31, 2015

(Dollars in thousands)
 
Total (1)(2)
 
Extension at
Below Market
Terms (2)
 
Reduction of Interest
Rate (2)
 
Modification to 
Interest-only
Payments (2)
 
Forgiveness of Debt(2)
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Industrial
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Retail
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Mixed use and other
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Residential real estate and other
 
3

 
294

 
3

 
294

 
2

 
80

 
1

 
50

 
—

 
—

Total loans
 
3

 
$
294

 
3

 
$
294

 
2

 
$
80

 
1

 
$
50

 
—

 
$
—


Three months ended
March 31, 2014

(Dollars in thousands)
 
Total (1)(2)
 
Extension at
Below Market
Terms (2)
 
Reduction of Interest
Rate (2)
 
Modification to 
Interest-only
Payments (2)
 
Forgiveness of Debt(2)
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
1

 
$
88

 
1

 
$
88

 
—

 
$
—

 
1

 
$
88

 
—

 
$
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Industrial
 
1

 
1,078

 
1

 
1,078

 
—

 
—

 
1

 
1,078

 
—

 
—

Retail
 
1

 
202

 
1

 
202

 
—

 
—

 
—

 
—

 
—

 
—

Mixed use and other
 
3

 
3,877

 
2

 
2,604

 
3

 
3,877

 
1

 
1,273

 
—

 
—

Residential real estate and other
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total loans
 
6

 
$
5,245

 
5

 
$
3,972

 
3

 
$
3,877

 
3

 
$
2,439

 
—

 
$
—

(1)
TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above.
(2)
Balances represent the recorded investment in the loan at the time of the restructuring.
During the three months ended March 31, 2015, three loans totaling $294,000 were determined to be TDRs, compared to six loans totaling $5.2 million in the same period of 2014. Of these loans extended at below market terms, the weighted average extension had a term of approximately 17 months during the three months ended March 31, 2015 compared to 13 months for the same period of 2014. Further, the weighted average decrease in the stated interest rate for loans with a reduction of interest rate during the period was approximately 180 basis points and 176 basis points during the three months ending March 31, 2015 and 2014, respectively. Interest-only payment terms were approximately 24 months during the three months ending March 31, 2015 compared to approximately nine months during the three months ending March 31, 2014. Additionally, no principal balances were forgiven in the first quarter of 2015 or 2014.


The following table presents a summary of all loans restructured in TDRs during the twelve months ended March 31, 2015 and 2014, and such loans which were in payment default under the restructured terms during the respective periods below:

(Dollars in thousands)
As of March 31, 2015
 
Three Months Ended
March 31, 2015
 
As of March 31, 2014
 
Three Months Ended
March 31, 2014
Total (1)(3)
 
Payments in Default  (2)(3)
 
Total (1)(3)
 
Payments in Default  (2)(3)
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
1

 
$
1,461

 
—

 
$
—

 
1

 
$
88

 
—

 
$
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial construction
—

 
—

 
—

 
—

 
3

 
6,120

 
3

 
6,120

Land
—

 
—

 
—

 
—

 
1

 
2,352

 
—

 
—

Office
2

 
1,510

 
1

 
790

 
4

 
4,021

 
3

 
3,465

Industrial
1

 
685

 
—

 
—

 
2

 
2,027

 
—

 
—

Retail
—

 
—

 
—

 
—

 
1

 
202

 
—

 
—

Multi-family
1

 
181

 
1

 
181

 
—

 
—

 
—

 
—

Mixed use and other
4

 
1,049

 
3

 
816

 
9

 
8,919

 
2

 
399

Residential real estate and other
9

 
2,131

 
2

 
261

 
6

 
1,919

 
—

 
—

Total loans
18

 
$
7,017

 
7

 
$
2,048

 
27

 
$
25,648

 
8

 
$
9,984


(1)
Total TDRs represent all loans restructured in TDRs during the previous twelve months from the date indicated.
(2)
TDRs considered to be in payment default are over 30 days past-due subsequent to the restructuring.
(3)
Balances represent the recorded investment in the loan at the time of the restructuring.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
A summary of the Company’s goodwill assets by business segment is presented in the following table:
(Dollars in thousands)
January 1,
2015
 
Goodwill
Acquired
 
Impairment
Loss
 
Goodwill Adjustments
 
March 31,
2015
Community banking
$
331,752

 
$
16,718

 
$
—

 
$
—

 
$
348,470

Specialty finance
41,768

 
—

 
—

 
(2,155
)
 
39,613

Wealth management
32,114

 
—

 
—

 
—

 
32,114

Total
$
405,634

 
$
16,718

 
$
—

 
$
(2,155
)
 
$
420,197


The community banking segment's goodwill increased $16.7 million in the first quarter of 2015 as a result of the acquisition of Delavan. The specialty finance segment's goodwill decreased $2.2 million in the first quarter of 2015 as a result of foreign currency translation adjustments related to the Canadian acquisitions.
A summary of finite-lived intangible assets as of the dates shown and the expected amortization as of March 31, 2015 is as follows:
(Dollars in thousands)
March 31,
2015
 
December 31, 2014
 
March 31,
2014
Community banking segment:
 
 
 
 
 
Core deposit intangibles:
 
 
 
 
 
Gross carrying amount
$
25,881

 
$
29,379

 
$
40,770

Accumulated amortization
(14,192
)
 
(17,879
)
 
(30,209
)
Net carrying amount
$
11,689

 
$
11,500

 
$
10,561

Specialty finance segment:
 
 
 
 
 
Customer list intangibles:
 
 
 
 
 
Gross carrying amount
$
1,800

 
$
1,800

 
$
1,800

Accumulated amortization
(971
)
 
(941
)
 
(842
)
Net carrying amount
$
829

 
$
859

 
$
958

Wealth management segment:
 
 
 
 
 
Customer list and other intangibles:
 
 
 
 
 
Gross carrying amount
$
7,940

 
$
7,940

 
$
7,690

Accumulated amortization
(1,600
)
 
(1,488
)
 
(1,159
)
Net carrying amount
$
6,340

 
$
6,452

 
$
6,531

Total other intangible assets, net
$
18,858

 
$
18,811

 
$
18,050


Estimated amortization
 
Actual in three months ended March 31, 2015
$
1,013

Estimated remaining in 2015
2,700

Estimated—2016
3,007

Estimated—2017
2,499

Estimated—2018
2,186

Estimated—2019
1,837


The core deposit intangibles recognized in connection with prior bank acquisitions are amortized over a ten-year period on an accelerated basis. The customer list intangibles recognized in connection with the purchase of life insurance premium finance assets in 2009 are being amortized over an 18-year period on an accelerated basis while the customer list intangibles recognized in connection with prior acquisitions within the wealth management segment are being amortized over a ten-year period on a straight-line basis.
Total amortization expense associated with finite-lived intangibles totaled approximately $1.0 million and $1.2 million for the three months ended March 31, 2015 and 2014, respectively.
Deposits
Deposits
Deposits
The following table is a summary of deposits as of the dates shown: 
(Dollars in thousands)
March 31,
2015
 
December 31, 2014
 
March 31,
2014
Balance:
 
 
 
 
 
Non-interest bearing
$
3,779,609

 
$
3,518,685

 
$
2,773,922

NOW and interest bearing demand deposits
2,262,928

 
2,236,089

 
1,983,251

Wealth management deposits
1,528,963

 
1,226,916

 
1,289,134

Money market
3,791,762

 
3,651,467

 
3,454,271

Savings
1,563,752

 
1,508,877

 
1,443,943

Time certificates of deposit
4,011,755

 
4,139,810

 
4,184,524

Total deposits
$
16,938,769

 
$
16,281,844

 
$
15,129,045

Mix:
 
 
 
 
 
Non-interest bearing
22
%
 
22
%
 
18
%
NOW and interest bearing demand deposits
13

 
14

 
13

Wealth management deposits
9

 
8

 
8

Money market
23

 
22

 
23

Savings
9

 
9

 
10

Time certificates of deposit
24

 
25

 
28

Total deposits
100
%
 
100
%
 
100
%

Wealth management deposits represent deposit balances (primarily money market accounts) at the Company’s subsidiary banks from brokerage customers of Wayne Hummer Investments, trust and asset management customers of CTC and brokerage customers from unaffiliated companies.
Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes
Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes
Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes
The following table is a summary of notes payable, Federal Home Loan Bank advances, other borrowings and subordinated notes as of the dates shown:
(Dollars in thousands)
March 31, 2015
 
December 31, 2014
 
March 31, 2014
Federal Home Loan Bank advances
$
416,036

 
$
733,050

 
$
387,672

Other borrowings:
 
 
 
 
 
Notes payable
—

 
—

 
182

Securities sold under repurchase agreements
50,076

 
48,566

 
211,692

Other
18,689

 
18,822

 
19,212

Secured borrowings
118,241

 
129,077

 
—

Total other borrowings
187,006

 
196,465

 
231,086

Subordinated notes
140,000

 
140,000

 
—

Total Federal Home Loan Bank advances, other borrowings and subordinated notes
$
743,042

 
$
1,069,515

 
$
618,758


Federal Home Loan Bank Advances
Federal Home Loan Bank advances consist of obligations of the banks and are collateralized by qualifying residential real-estate and home equity loans and certain securities. FHLB advances are stated at par value of the debt adjusted for unamortized fair value adjustments recorded in connection with advances acquired through acquisitions.
Notes Payable
At March 31, 2015 and December 31, 2014, the Company had no notes payable outstanding compared to $182,000 outstanding at March 31, 2014. Notes payable represented an unsecured promissory note to a Great Lakes Advisor shareholder ("Unsecured Promissory Note") assumed by the Company as a result of the respective acquisition in 2011 and separate loan agreements with unaffiliated banks. Under the Unsecured Promissory Note, the Company made quarterly principal payments and paid interest at a rate of the federal funds rate plus 100 basis points. At March 31, 2014, this Unsecured Promissory Note had an outstanding balance of $182,000. In the second quarter of 2014, the remaining balance of the Unsecured Promissory Note was paid off.

In prior periods, the Company has had a $101.0 million loan agreement with unaffiliated banks dated as of October 30, 2009, which had been amended at least annually between 2009 and 2014. The agreement consisted of a $100.0 million revolving credit facility, maturing on October 25, 2013, and a $1.0 million term loan maturing on June 1, 2015. In 2013, the Company repaid and terminated the $1.0 million term loan, and amended the agreement, effectively extending the maturity date on the revolving credit facility from October 25, 2013 to November 6, 2014. The agreement was also amended in 2014 effectively extending the term to December 15, 2014 at which time the agreement matured. At March 31, 2014, no amount was outstanding on the $100.0 million revolving credit facility.
On December 15, 2014, the Company entered into a new $150.0 million loan agreement with unaffiliated banks. The agreement consists of a $75.0 million revolving credit facility ("Revolving Credit Facility") and a $75.0 million term facility ("Term Facility"). At March 31, 2015 and December 31, 2014, the Company had no outstanding balance under the Revolving Credit Facility or the Term Facility. All borrowings under the Revolving Credit Facility must be repaid by December 14, 2015. The Company is required to borrow the entire amount of the Term Facility no later than June 15, 2015 and all such borrowings must be repaid by June 15, 2020. Beginning September 30, 2015, the Company will be required to make straight-line quarterly amortizing payments on the Term Facility. Borrowings under the agreement that are considered “Base Rate Loans” will bear interest at a rate equal to the sum of (1) 50 basis points (in the case of a borrowing under the Revolving Credit Facility) or 75 basis points (in the case of a borrowing under the Term Facility) plus (2) the highest of (a) the federal funds rate plus 50 basis points, (b) the lender's prime rate, and (c) the Eurodollar Rate (as defined below) that would be applicable for an interest period of one month plus 100 basis points. Borrowings under the agreement that are considered “Eurodollar Rate Loans” will bear interest at a rate equal to the sum of (1) 150 basis points (in the case of a borrowing under the Revolving Credit Facility) or 175 basis points (in the case of a borrowing under the Term Facility) plus (2) the LIBOR rate for the applicable period, as adjusted for statutory reserve requirements for eurocurrency liabilities (the “Eurodollar Rate”). A commitment fee is payable quarterly equal to 0.20% of the actual daily amount by which the lenders' commitment under the Revolving Credit Facility exceeded the amount outstanding under such facility.

Borrowings under the agreement are secured by pledges of and first priority perfected security interests in the Company's equity interest in its bank subsidiaries and contain several restrictive covenants, including the maintenance of various capital adequacy levels, asset quality and profitability ratios, and certain restrictions on dividends and other indebtedness. At March 31, 2015, the Company was in compliance with all such covenants. The Revolving Credit Facility and the Term Facility are available to be utilized, as needed, to provide capital to fund continued growth at the Company’s banks and to serve as an interim source of funds for acquisitions, common stock repurchases or other general corporate purposes.
Securities Sold Under Repurchase Agreements
At March 31, 2015, December 31, 2014 and March 31, 2014, securities sold under repurchase agreements represent $50.1 million, $48.6 million and $31.7 million, respectively, of customer sweep accounts in connection with master repurchase agreements at the banks as well as $180.0 million of short-term borrowings from banks and brokers at March 31, 2014 that were paid off in the second quarter of 2014. The Company records securities sold under repurchase agreements at their gross value and does not offset positions on the Consolidated Statements of Condition. As of March 31, 2015, the Company had pledged securities related to its customer balances in sweep accounts of $78.0 million, which exceeds the outstanding borrowings resulting in no net credit exposure. Securities pledged for customer balances in sweep accounts and short-term borrowings from brokers are maintained under the Company’s control and consist of U.S. Government agency, mortgage-backed and corporate securities. These securities are included in the available-for-sale securities portfolio as reflected on the Company’s Consolidated Statements of Condition.
Other Borrowings
Other borrowings at March 31, 2015 represent a fixed-rate promissory note issued by the Company in August 2012 ("Fixed-Rate Promissory Note") related to and secured by an office building owned by the Company. At March 31, 2015, the Fixed-Rate Promissory Note had an outstanding balance of $18.7 million compared to an outstanding balance of $18.8 million and $19.2 million at December 31, 2014 and March 31, 2014, respectively. Under the Fixed-Rate Promissory Note, the Company will make monthly principal payments and pay interest at a fixed rate of 3.75% until maturity on September 1, 2017.

Secured Borrowings

In December 2014, the Company, through its subsidiary, FIFC Canada, sold an undivided co-ownership interest in all receivables owed to FIFC Canada to an unrelated third party in exchange for a cash payment of approximately C$150 million pursuant to a receivables purchase agreement (“Receivables Purchase Agreement”). The proceeds received from the transaction are reflected on the Company’s Consolidated Statements of Condition as a secured borrowing owed to the unrelated third party and translated to the Company’s reporting currency as of the respective date. At March 31, 2015 the translated balance of the secured borrowing under the Receivable Purchase Agreement totaled $118.2 million compared to $129.1 million at December 31, 2014. Additionally, the interest rate under the Receivables Purchase Agreement at March 31, 2015 was 1.6093%.
Subordinated Notes
At March 31, 2015 and December 31, 2014, the Company had outstanding subordinated notes totaling $140.0 million. In the second quarter of 2014, the Company issued $140.0 million of subordinated notes receiving $139.1 million in net proceeds. The notes have a stated interest rate of 5.00% and mature in June 2024. At March 31, 2014, the Company had no outstanding subordinated notes.
Junior Subordinated Debentures
Junior Subordinated Debentures
Junior Subordinated Debentures
As of March 31, 2015, the Company owned 100% of the common securities of nine trusts, Wintrust Capital Trust III, Wintrust Statutory Trust IV, Wintrust Statutory Trust V, Wintrust Capital Trust VII, Wintrust Capital Trust VIII, Wintrust Capital Trust IX, Northview Capital Trust I, Town Bankshares Capital Trust I, and First Northwest Capital Trust I (the “Trusts”) set up to provide long-term financing. The Northview, Town and First Northwest capital trusts were acquired as part of the acquisitions of Northview Financial Corporation, Town Bankshares, Ltd., and First Northwest Bancorp, Inc., respectively. The Trusts were formed for purposes of issuing trust preferred securities to third-party investors and investing the proceeds from the issuance of the trust preferred securities and common securities solely in junior subordinated debentures issued by the Company (or assumed by the Company in connection with an acquisition), with the same maturities and interest rates as the trust preferred securities. The junior subordinated debentures are the sole assets of the Trusts. In each Trust, the common securities represent approximately 3% of the junior subordinated debentures and the trust preferred securities represent approximately 97% of the junior subordinated debentures.
The Trusts are reported in the Company’s consolidated financial statements as unconsolidated subsidiaries. Accordingly, in the Consolidated Statements of Condition, the junior subordinated debentures issued by the Company to the Trusts are reported as liabilities and the common securities of the Trusts, all of which are owned by the Company, are included in available-for-sale securities.
The following table provides a summary of the Company’s junior subordinated debentures as of March 31, 2015. The junior subordinated debentures represent the par value of the obligations owed to the Trusts.
 
(Dollars in thousands)
Common
Securities
 
Trust 
Preferred
Securities
 
Junior
Subordinated
Debentures
 
Rate
Structure
 
Contractual rate
at 3/31/2015
 
Issue
Date
 
Maturity
Date
 
Earliest
Redemption
Date
Wintrust Capital Trust III
$
774

 
$
25,000

 
$
25,774

 
L+3.25
 
3.51
%
 
04/2003
 
04/2033
 
04/2008
Wintrust Statutory Trust IV
619

 
20,000

 
20,619

 
L+2.80
 
3.08
%
 
12/2003
 
12/2033
 
12/2008
Wintrust Statutory Trust V
1,238

 
40,000

 
41,238

 
L+2.60
 
2.88
%
 
05/2004
 
05/2034
 
06/2009
Wintrust Capital Trust VII
1,550

 
50,000

 
51,550

 
L+1.95
 
2.22
%
 
12/2004
 
03/2035
 
03/2010
Wintrust Capital Trust VIII
1,238

 
40,000

 
41,238

 
L+1.45
 
1.73
%
 
08/2005
 
09/2035
 
09/2010
Wintrust Capital Trust IX
1,547

 
50,000

 
51,547

 
L+1.63
 
1.90
%
 
09/2006
 
09/2036
 
09/2011
Northview Capital Trust I
186

 
6,000

 
6,186

 
L+3.00
 
3.25
%
 
08/2003
 
11/2033
 
08/2008
Town Bankshares Capital Trust I
186

 
6,000

 
6,186

 
L+3.00
 
3.25
%
 
08/2003
 
11/2033
 
08/2008
First Northwest Capital Trust I
155

 
5,000

 
5,155

 
L+3.00
 
3.28
%
 
05/2004
 
05/2034
 
05/2009
Total
 
 
 
 
$
249,493

 

 
2.46
%
 
 
 
 
 
 

The junior subordinated debentures totaled $249.5 million at March 31, 2015, December 31, 2014 and March 31, 2014.
The interest rates on the variable rate junior subordinated debentures are based on the three-month LIBOR rate and reset on a quarterly basis. At March 31, 2015, the weighted average contractual interest rate on the junior subordinated debentures was 2.46%. The Company entered into interest rate swaps and caps with an aggregate notional value of $225 million to hedge the variable cash flows on certain junior subordinated debentures. The hedge-adjusted rate on the junior subordinated debentures as of March 31, 2015, was 3.22%. Distributions on the common and preferred securities issued by the Trusts are payable quarterly at a rate per annum equal to the interest rates being earned by the Trusts on the junior subordinated debentures. Interest expense on the junior subordinated debentures is deductible for income tax purposes.
The Company has guaranteed the payment of distributions and payments upon liquidation or redemption of the trust preferred securities, in each case to the extent of funds held by the Trusts. The Company and the Trusts believe that, taken together, the obligations of the Company under the guarantees, the junior subordinated debentures, and other related agreements provide, in the aggregate, a full, irrevocable and unconditional guarantee, on a subordinated basis, of all of the obligations of the Trusts under the trust preferred securities. Subject to certain limitations, the Company has the right to defer the payment of interest on the junior subordinated debentures at any time, or from time to time, for a period not to exceed 20 consecutive quarters. The trust preferred securities are subject to mandatory redemption, in whole or in part, upon repayment of the junior subordinated debentures at maturity or their earlier redemption. The junior subordinated debentures are redeemable in whole or in part prior to maturity at any time after the earliest redemption dates shown in the table, and earlier at the discretion of the Company if certain conditions are met, and, in any event, only after the Company has obtained Federal Reserve approval, if then required under applicable guidelines or regulations.
Prior to January 1, 2015, the junior subordinated debentures, subject to certain limitations, qualified as Tier 1 regulatory capital of the Company and the amount in excess of those certain limitations could, subject to other restrictions, be included in Tier 2 capital. At December 31, 2014 and March 31, 2014, all of the junior subordinated debentures, net of the Common Securities, were included in the Company's Tier 1 regulatory capital. Starting in 2015, a portion of these junior subordinated debentures still qualified as Tier 1 regulatory capital of the Company and the amount in excess of those certain limitations, subject to certain restrictions, was included in Tier 2 capital. At March 31, 2015, $60.5 million and $181.5 million of the junior subordinated debentures, net of Common Securities, were included in the Company's Tier 1 and Tier 2 regulatory capital, respectively.
Segment Information
Segment Information
Segment Information
The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management.
The three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. In addition, each segment’s customer base has varying characteristics and each segment has a different regulatory environment. While the Company’s management monitors each of the fifteen bank subsidiaries’ operations and profitability separately, these subsidiaries have been aggregated into one reportable operating segment due to the similarities in products and services, customer base, operations, profitability measures, and economic characteristics.
For purposes of internal segment profitability, management allocates certain intersegment and parent company balances. Management allocates a portion of revenues to the specialty finance segment related to loans originated by the specialty finance segment and sold to the community banking segment. Similarly, for purposes of analyzing the contribution from the wealth management segment, management allocates a portion of the net interest income earned by the community banking segment on deposit balances of customers of the wealth management segment to the wealth management segment. See Note 9 — Deposits, for more information on these deposits. Finally, expenses incurred at the Wintrust parent company are allocated to each segment based on each segment's risk-weighted assets.
The segment financial information provided in the following tables has been derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the segments are substantially similar to as those described in “Summary of Significant Accounting Policies” in Note 1 of the Company’s 2014 Form 10-K. The Company evaluates segment performance based on after-tax profit or loss and other appropriate profitability measures common to each segment.
The following is a summary of certain operating information for reportable segments:
 
Three months ended
 
$ Change in
Contribution
 
% Change  in
Contribution
(Dollars in thousands)
March 31,
2015
 
March 31,
2014
 
Net interest income:
 
 
 
 
 
 
 
Community Banking
$
122,681

 
$
116,755

 
$
5,926

 
5
 %
Specialty Finance
21,046

 
19,212

 
1,834

 
10

Wealth Management
4,189

 
4,099

 
90

 
2

Total Operating Segments
147,916

 
140,066

 
7,850

 
6

Intersegment Eliminations
3,975

 
3,940

 
35

 
1

Consolidated net interest income
$
151,891

 
$
144,006

 
$
7,885

 
5
 %
Non-interest income:
 
 
 
 
 
 
 
Community Banking
$
44,912

 
$
27,319

 
$
17,593

 
64
 %
Specialty Finance
7,871

 
7,881

 
(10
)
 
—

Wealth Management
18,728

 
16,941

 
1,787

 
11

Total Operating Segments
71,511

 
52,141

 
19,370

 
37

Intersegment Eliminations
(6,970
)
 
(6,612
)
 
(358
)
 
(5
)
Consolidated non-interest income
$
64,541

 
$
45,529

 
$
19,012

 
42
 %
Net revenue:
 
 
 
 
 
 
 
Community Banking
$
167,593

 
$
144,074

 
$
23,519

 
16
 %
Specialty Finance
28,917

 
27,093

 
1,824

 
7

Wealth Management
22,917

 
21,040

 
1,877

 
9

Total Operating Segments
219,427

 
192,207

 
27,220

 
14

Intersegment Eliminations
(2,995
)
 
(2,672
)
 
(323
)
 
(12
)
Consolidated net revenue
$
216,432

 
$
189,535

 
$
26,897

 
14
 %
Segment profit:
 
 
 
 
 
 
 
Community Banking
$
24,965

 
$
22,581

 
$
2,384

 
11
 %
Specialty Finance
10,952

 
8,982

 
1,970

 
22

Wealth Management
3,135

 
2,937

 
198

 
7

Consolidated net income
$
39,052

 
$
34,500

 
$
4,552

 
13
 %
Segment assets:
 
 
 
 
 
 
 
Community Banking
$
17,050,262

 
$
15,160,507

 
$
1,889,755

 
12
 %
Specialty Finance
2,784,069

 
2,532,362

 
251,707

 
10

Wealth Management
547,940

 
528,294

 
19,646

 
4

Consolidated total assets
$
20,382,271

 
$
18,221,163

 
$
2,161,108

 
12
 %
Derivative Financial Instruments
Derivative Financial Instruments
Derivative Financial Instruments
The Company primarily enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Derivative instruments represent contracts between parties that result in one party delivering cash to the other party based on a notional amount and an underlying term (such as a rate, security price or price index) specified in the contract. The amount of cash delivered from one party to the other is determined based on the interaction of the notional amount of the contract with the underlying term. Derivatives are also implicit in certain contracts and commitments.
The derivative financial instruments currently used by the Company to manage its exposure to interest rate risk include: (1) interest rate swaps and caps to manage the interest rate risk of certain fixed and variable rate assets and variable rate liabilities; (2) interest rate lock commitments provided to customers to fund certain mortgage loans to be sold into the secondary market; (3) forward commitments for the future delivery of such mortgage loans to protect the Company from adverse changes in interest rates and corresponding changes in the value of mortgage loans held-for-sale; and (4) covered call options to economically hedge specific investment securities and receive fee income effectively enhancing the overall yield on such securities to compensate for net interest margin compression. The Company also enters into derivatives (typically interest rate swaps) with certain qualified borrowers to facilitate the borrowers’ risk management strategies and concurrently enters into mirror-image derivatives with a third party counterparty, effectively making a market in the derivatives for such borrowers. Additionally, the Company enters into foreign currency contracts to manage foreign exchange risk associated with certain foreign currency denominated assets.
The Company has purchased interest rate cap derivatives to hedge or manage its own risk exposures. Certain interest rate cap derivatives have been designated as cash flow hedge derivatives of the variable cash outflows associated with interest expense on the Company’s junior subordinated debentures and certain deposits. Other cap derivatives are not designated for hedge accounting but are economic hedges of the Company's overall portfolio, therefore any mark to market changes in the value of these caps are recognized in earnings.
Below is a summary of the interest rate cap derivatives held by the Company as of March 31, 2015:
(Dollars in thousands)
 
 
 
 
 
 
 Notional
Accounting
Fair Value as of
Effective Date
Maturity Date
Amount
Treatment
March 31, 2015
May 3, 2012
May 3, 2015
77,000

Non-Hedge Designated
—

May 3, 2012
May 3, 2016
215,000

Non-Hedge Designated
17

June 1, 2012
April 1, 2015
96,530

Non-Hedge Designated
—

August 29, 2012
August 29, 2016
216,500

 Cash Flow Hedging
89

February 22, 2013
August 22, 2016
43,500

 Cash Flow Hedging
26

February 22, 2013
August 22, 2016
56,500

Non-Hedge Designated
34

March 21, 2013
March 21, 2017
100,000

Non-Hedge Designated
275

May 16, 2013
November 16, 2016
75,000

Non-Hedge Designated
95

September 15, 2013
September 15, 2017
50,000

Cash Flow Hedging
299

September 30, 2013
September 30, 2017
40,000

 Cash Flow Hedging
254

 
 
$
970,030

 
$
1,089


The Company recognizes derivative financial instruments in the consolidated financial statements at fair value regardless of the purpose or intent for holding the instrument. The Company records derivative assets and derivative liabilities on the Consolidated Statements of Condition within accrued interest receivable and other assets and accrued interest payable and other liabilities, respectively. Changes in the fair value of derivative financial instruments are either recognized in income or in shareholders’ equity as a component of other comprehensive income depending on whether the derivative financial instrument qualifies for hedge accounting and, if so, whether it qualifies as a fair value hedge or cash flow hedge. Generally, changes in fair values of derivatives accounted for as fair value hedges are recorded in income in the same period and in the same income statement line as changes in the fair values of the hedged items that relate to the hedged risk(s). Changes in fair values of derivative financial instruments accounted for as cash flow hedges, to the extent they are effective hedges, are recorded as a component of other comprehensive income, net of deferred taxes, and reclassified to earnings when the hedged transaction affects earnings. Changes in fair values of derivative financial instruments not designated in a hedging relationship pursuant to ASC 815, including changes in fair value related to the ineffective portion of cash flow hedges, are reported in non-interest income during the period of the change. Derivative financial instruments are valued by a third party and are corroborated through comparison with valuations provided by the respective counterparties. Fair values of certain mortgage banking derivatives (interest rate lock commitments and forward commitments to sell mortgage loans) are estimated based on changes in mortgage interest rates from the date of the loan commitment. The fair value of foreign currency derivatives is computed based on changes in foreign currency rates stated in the contract compared to those prevailing at the measurement date.
The table below presents the fair value of the Company’s derivative financial instruments as of March 31, 2015, December 31, 2014 and March 31, 2014:
 
 
Derivative Assets
 
Derivative Liabilities
 
Fair Value
 
Fair Value
(Dollars in thousands)
March 31, 2015
 
December 31, 2014
 
March 31, 2014
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
Derivatives designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives designated as Cash Flow Hedges
$
668

 
$
1,390

 
$
2,578

 
$
1,867

 
$
1,994

 
$
2,892

Interest rate derivatives designated as Fair Value Hedges
20

 
52

 
90

 
—

 
—

 
1

Total derivatives designated as hedging instruments under ASC 815
$
688

 
$
1,442

 
$
2,668

 
$
1,867

 
$
1,994

 
$
2,893

Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
46,862

 
$
36,399

 
$
34,571

 
$
45,831

 
$
34,927

 
$
32,097

Interest rate lock commitments
15,296

 
10,028

 
13,658

 
—

 
20

 
115

Forward commitments to sell mortgage loans
—

 
23

 
625

 
7,410

 
4,239

 
2,688

Foreign exchange contracts
138

 
72

 
7

 
117

 
—

 
4

Total derivatives not designated as hedging instruments under ASC 815
$
62,296

 
$
46,522

 
$
48,861

 
$
53,358

 
$
39,186

 
$
34,904

Total Derivatives
$
62,984

 
$
47,964

 
$
51,529

 
$
55,225

 
$
41,180

 
$
37,797


Cash Flow Hedges of Interest Rate Risk
The Company’s objectives in using interest rate derivatives are to add stability to net interest income and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and interest rate caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without the exchange of the underlying notional amount. Interest rate caps designated as cash flow hedges involve the receipt of payments at the end of each period in which the interest rate specified in the contract exceeds the agreed upon strike price.
During the first quarter of 2014, the Company designated two existing interest rate cap derivatives as cash flow hedges of variable rate deposits. The cap derivatives had notional amounts of $216.5 million and $43.5 million, respectively, both maturing in August 2016. Additionally, as of March 31, 2015, the Company had two interest rate swaps and two interest rate caps designated as hedges of the variable cash outflows associated with interest expense on the Company’s junior subordinated debentures. The effective portion of changes in the fair value of these cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified to interest expense as interest payments are made on the Company’s variable rate junior subordinated debentures. The changes in fair value (net of tax) are separately disclosed in the Consolidated Statements of Comprehensive Income. The ineffective portion of the change in fair value of these derivatives is recognized directly in earnings; however, no hedge ineffectiveness was recognized during the three months ended March 31, 2015 or March 31, 2014. The Company uses the hypothetical derivative method to assess and measure hedge effectiveness.

The table below provides details on each of these cash flow hedges as of March 31, 2015:
 
March 31, 2015
(Dollars in thousands)
Notional
 
Fair Value
Maturity Date
Amount
 
Asset (Liability)
Interest Rate Swaps:
 
 
 
September 2016
50,000

 
(1,222
)
October 2016
25,000

 
(645
)
Total Interest Rate Swaps
75,000

 
(1,867
)
Interest Rate Caps:
 
 
 
August 2016
43,500

 
26

August 2016
216,500

 
89

September 2017
50,000

 
299

September 2017
40,000

 
254

Total Interest Rate Caps
350,000

 
668

Total Cash Flow Hedges
$
425,000

 
$
(1,199
)

A rollforward of the amounts in accumulated other comprehensive loss related to interest rate derivatives designated as cash flow hedges follows:
 
Three months ended
(Dollars in thousands)
March 31,
2015
 
March 31,
2014
Unrealized loss at beginning of period
$
(4,062
)
 
$
(3,971
)
Amount reclassified from accumulated other comprehensive loss to interest expense on junior subordinated debentures
414

 
493

Amount of loss recognized in other comprehensive income
(975
)
 
(591
)
Unrealized loss at end of period
$
(4,623
)
 
$
(4,069
)

As of March 31, 2015, the Company estimates that during the next twelve months, $2.4 million will be reclassified from accumulated other comprehensive loss as an increase to interest expense.
Fair Value Hedges of Interest Rate Risk
Interest rate swaps designated as fair value hedges involve the payment of fixed amounts to a counterparty in exchange for the Company receiving variable payments over the life of the agreements without the exchange of the underlying notional amount. As of March 31, 2015, the Company has three interest rate swaps with an aggregate notional amount of $4.7 million that were designated as fair value hedges associated with fixed rate commercial franchise loans.
For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged item in the same line item as the offsetting loss or gain on the related derivatives. The Company recognized a net loss of $4,000 and $2,000 in other income related to hedge ineffectiveness for the three months ended March 31, 2015 and 2014, respectively.
On June 1, 2013, the Company de-designated a $96.5 million cap which was previously designated as a fair value hedge of interest rate risk associated with an embedded cap in one of the Company’s floating rate loans. The hedged loan was restructured which resulted in the interest rate cap no longer qualifying as an effective fair value hedge. As such, the interest rate cap derivative is no longer accounted for under hedge accounting and all changes in value subsequent to June 1, 2013 are recorded in earnings. Additionally, the Company has recorded amortization of the basis in the previously hedged item as a reduction to interest income of $43,000 in both the three month periods ended March 31, 2015 and 2014, respectively.
The following table presents the gain/(loss) and hedge ineffectiveness recognized on derivative instruments and the related hedged items that are designated as a fair value hedge accounting relationship as of March 31, 2015 and 2014:
 
(Dollars in thousands)



Derivatives in Fair Value
Hedging Relationships
Location of Gain/(Loss)
Recognized in Income on
Derivative
 
Amount of Gain/(Loss) Recognized
in Income on Derivative
Three Months Ended
 
Amount of Gain/(Loss) Recognized
in Income on Hedged Item
Three Months Ended
 
Income Statement Gain/
(Loss) due to Hedge
Ineffectiveness
Three Months Ended 
March 31, 2015
 
March 31, 2014
 
March 31, 2015
 
March 31, 2014
 
March 31, 2015
 
March 31, 2014
Interest rate swaps
Trading (losses) gains, net
 
$
(32
)
 
$
(17
)
 
$
28

 
$
15

 
$
(4
)
 
$
(2
)

Non-Designated Hedges
The Company does not use derivatives for speculative purposes. Derivatives not designated as hedges are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of ASC 815. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings.
Interest Rate Derivatives—The Company has interest rate derivatives, including swaps and option products, resulting from a service the Company provides to certain qualified borrowers. The Company’s banking subsidiaries execute certain derivative products (typically interest rate swaps) directly with qualified commercial borrowers to facilitate their respective risk management strategies. For example, these arrangements allow the Company’s commercial borrowers to effectively convert a variable rate loan to a fixed rate. In order to minimize the Company’s exposure on these transactions, the Company simultaneously executes offsetting derivatives with third parties. In most cases, the offsetting derivatives have mirror-image terms, which result in the positions’ changes in fair value substantially offsetting through earnings each period. However, to the extent that the derivatives are not a mirror-image and because of differences in counterparty credit risk, changes in fair value will not completely offset resulting in some earnings impact each period. Changes in the fair value of these derivatives are included in non-interest income. At March 31, 2015, the Company had interest rate derivative transactions with an aggregate notional amount of approximately $3.1 billion (all interest rate swaps and caps with customers and third parties) related to this program. These interest rate derivatives had maturity dates ranging from April 2015 to February 2045.
Mortgage Banking Derivatives—These derivatives include interest rate lock commitments provided to customers to fund certain mortgage loans to be sold into the secondary market and forward commitments for the future delivery of such loans. It is the Company’s practice to enter into forward commitments for the future delivery of a portion of our residential mortgage loan production when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on its commitments to fund the loans as well as on its portfolio of mortgage loans held-for-sale. The Company’s mortgage banking derivatives have not been designated as being in hedge relationships. At March 31, 2015, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of approximately $829.0 million and interest rate lock commitments with an aggregate notional amount of approximately $531.8 million. Additionally, the Company’s total mortgage loans held-for-sale at March 31, 2015 was $446.4 million. The fair values of these derivatives were estimated based on changes in mortgage rates from the dates of the commitments. Changes in the fair value of these mortgage banking derivatives are included in mortgage banking revenue.
Foreign Currency Derivatives—These derivatives include foreign currency contracts used to manage the foreign exchange risk associated with foreign currency denominated assets and transactions. Foreign currency contracts, which include spot and forward contracts, represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. As a result of fluctuations in foreign currencies, the U.S. dollar-equivalent value of the foreign currency denominated assets or forecasted transactions increase or decrease. Gains or losses on the derivative instruments related to these foreign currency denominated assets or forecasted transactions are expected to substantially offset this variability. As of March 31, 2015 the Company held foreign currency derivatives with an aggregate notional amount of approximately $9.6 million.
Other Derivatives—Periodically, the Company will sell options to a bank or dealer for the right to purchase certain securities held within the banks’ investment portfolios (covered call options). These option transactions are designed primarily to mitigate overall interest rate risk and to increase the total return associated with the investment securities portfolio. These options do not qualify as hedges pursuant to ASC 815, and, accordingly, changes in fair value of these contracts are recognized in non-interest income. There were no covered call options outstanding as of March 31, 2015, December 31, 2014 or March 31, 2014.
As discussed above, the Company has entered into interest rate cap derivatives to protect the Company in a rising rate environment against increased margin compression due to the repricing of variable rate liabilities and lack of repricing of fixed rate loans and/or securities. As of March 31, 2015, the Company held six interest rate cap derivative contracts, which are not designated in hedge relationships, with an aggregate notional value of $620.0 million.
Amounts included in the Consolidated Statements of Income related to derivative instruments not designated in hedge relationships were as follows:
(Dollars in thousands)
 
 
Three Months Ended
Derivative
Location in income statement
 
March 31,
2015
 
March 31,
2014
Interest rate swaps and caps
Trading losses, net
 
$
(450
)
 
$
(677
)
Mortgage banking derivatives
Mortgage banking revenue
 
2,094

 
3,677

Covered call options
Fees from covered call options
 
4,360

 
1,542

Foreign exchange contracts
Trading losses, net
 
(51
)
 
(1
)

Credit Risk
Derivative instruments have inherent risks, primarily market risk and credit risk. Market risk is associated with changes in interest rates and credit risk relates to the risk that the counterparty will fail to perform according to the terms of the agreement. The amounts potentially subject to market and credit risks are the streams of interest payments under the contracts and the market value of the derivative instrument and not the notional principal amounts used to express the volume of the transactions. Market and credit risks are managed and monitored as part of the Company's overall asset-liability management process, except that the credit risk related to derivatives entered into with certain qualified borrowers is managed through the Company's standard loan underwriting process since these derivatives are secured through collateral provided by the loan agreements. Actual exposures are monitored against various types of credit limits established to contain risk within parameters. When deemed necessary, appropriate types and amounts of collateral are obtained to minimize credit exposure.

The Company has agreements with certain of its interest rate derivative counterparties that contain cross-default provisions, which provide that if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain of its derivative counterparties that contain a provision allowing the counterparty to terminate the derivative positions if the Company fails to maintain its status as a well or adequately capitalized institution, which would require the Company to settle its obligations under the agreements. As of March 31, 2015 the fair value of interest rate derivatives in a net liability position that were subject to such agreements, which includes accrued interest related to these agreements, was $30.0 million. If the Company had breached any of these provisions at March 31, 2015 it would have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparty.

The Company's is also exposed to the credit risk of its commercial borrowers who are counterparties to interest rate derivatives with the banks. This counterparty risk related to the commercial borrowers is managed and monitored through the banks' standard underwriting process applicable to loans since these derivatives are secured through collateral provided by the loan agreement. The counterparty risk associated with the mirror-image swaps executed with third parties is monitored and managed in connection with the Company's overall asset liability management process.

The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative assets and liabilities on the Consolidated Statements of Condition. The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown.
 
Derivative Assets
 
Derivative Liabilities
 
Fair Value
 
Fair Value
(Dollars in thousands)
March 31, 2015
 
December 31, 2014
 
March 31, 2014
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
Gross Amounts Recognized
$
47,550

 
$
37,841

 
$
37,239

 
$
47,698

 
$
36,921

 
$
34,990

Less: Amounts offset in the Statements of Financial Condition
—

 
—

 
—

 
—

 
—

 
—

Net amount presented in the Statements of Financial Condition
$
47,550

 
$
37,841

 
$
37,239

 
$
47,698

 
$
36,921

 
$
34,990

Gross amounts not offset in the Statements of Financial Condition
 
 
 
 
 
 
 
 
 
 
 
Offsetting Derivative Positions
(1,563
)
 
(2,771
)
 
(7,359
)
 
(1,563
)
 
(2,771
)
 
(7,359
)
Collateral Posted (1)
—

 
—

 
—

 
(46,135
)
 
(34,150
)
 
(27,631
)
Net Credit Exposure
$
45,987

 
$
35,070

 
$
29,880

 
$
—

 
$
—

 
$
—


(1)
As of March 31, 2015, December 31, 2014 and March 31, 2014, the Company posted collateral of $51.3 million, $43.8 million and $37.1 million, respectively which resulted in excess collateral with its counterparties. For purposes of this disclosure, the amount of posted collateral is limited to the amount offsetting the derivative liability.
Fair Values of Assets and Liabilities
Fair Values of Assets and Liabilities
Fair Values of Assets and Liabilities
The Company measures, monitors and discloses certain of its assets and liabilities on a fair value basis. These financial assets and financial liabilities are measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observability of the assumptions used to determine fair value. These levels are:

•
Level 1—unadjusted quoted prices in active markets for identical assets or liabilities.

•
Level 2—inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability or inputs that are derived principally from or corroborated by observable market data by correlation or other means.

•
Level 3—significant unobservable inputs that reflect the Company’s own assumptions that market participants would use in pricing the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
A financial instrument’s categorization within the above valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the assets or liabilities. Following is a description of the valuation methodologies used for the Company’s assets and liabilities measured at fair value on a recurring basis.
Available-for-sale and trading account securities—Fair values for available-for-sale and trading securities are typically based on prices obtained from independent pricing vendors. Securities measured with these valuation techniques are generally classified as Level 2 of the fair value hierarchy. Typically, standard inputs such as benchmark yields, reported trades for similar securities, issuer spreads, benchmark securities, bids, offers and reference data including market research publications are used to fair value a security. When these inputs are not available, broker/dealer quotes may be obtained by the vendor to determine the fair value of the security. We review the vendor’s pricing methodologies to determine if observable market information is being used, versus unobservable inputs. Fair value measurements using significant inputs that are unobservable in the market due to limited activity or a less liquid market are classified as Level 3 in the fair value hierarchy.
The Company’s Investment Operations Department is responsible for the valuation of Level 3 available-for-sale securities. The methodology and variables used as inputs in pricing Level 3 securities are derived from a combination of observable and unobservable inputs. The unobservable inputs are determined through internal assumptions that may vary from period to period due to external factors, such as market movement and credit rating adjustments.
At March 31, 2015, the Company classified $56.0 million of municipal securities as Level 3. These municipal securities are bond issues for various municipal government entities located in the Chicago metropolitan area and southern Wisconsin and are privately placed, non-rated bonds without CUSIP numbers. The Company’s methodology for pricing the non-rated bonds focuses on three distinct inputs: equivalent rating, yield and other pricing terms. To determine the rating for a given non-rated municipal bond, the Investment Operations Department references a publicly issued bond by the same issuer if available. A reduction is then applied to the rating obtained from the comparable bond, as the Company believes if liquidated, a non-rated bond would be valued less than a similar bond with a verifiable rating. The reduction applied by the Company is one complete rating grade (i.e. a “AA” rating for a comparable bond would be reduced to “A” for the Company’s valuation). In the first quarter of 2015, all of the ratings derived in the above process by Investment Operations were BBB or better, for both bonds with and without comparable bond proxies. The fair value measurement of municipal bonds is sensitive to the rating input, as a higher rating typically results in an increased valuation. The remaining pricing inputs used in the bond valuation are observable. Based on the rating determined in the above process, Investment Operations obtains a corresponding current market yield curve available to market participants. Other terms including coupon, maturity date, redemption price, number of coupon payments per year, and accrual method are obtained from the individual bond term sheets. Certain municipal bonds held by the Company at March 31, 2015 have a call date that has passed, and are now continuously callable. When valuing these bonds, the fair value is capped at par value as the Company assumes a market participant would not pay more than par for a continuously callable bond.
At March 31, 2015, the Company held $24.7 million of equity securities classified as Level 3. The securities in Level 3 are primarily comprised of auction rate preferred securities. The Company utilizes an independent pricing vendor to provide a fair market valuation of these securities. The vendor’s valuation methodology includes modeling the contractual cash flows of the underlying preferred securities and applying a discount to these cash flows by a credit spread derived from the market price of the securities underlying debt. At March 31, 2015, the vendor considered five different securities whose implied credit spreads were believed to provide a proxy for the Company’s auction rate preferred securities. The credit spreads ranged from 1.70%-2.34% with an average of 2.04% which was added to three-month LIBOR to be used as the discount rate input to the vendor’s model. Fair value of the securities is sensitive to the discount rate utilized as a higher discount rate results in a decreased fair value measurement.
Mortgage loans held-for-sale—The fair value of mortgage loans held-for-sale is determined by reference to investor price sheets for loan products with similar characteristics.
Mortgage servicing rights—Fair value for mortgage servicing rights is determined utilizing a third party valuation model which stratifies the servicing rights into pools based on product type and interest rate. The fair value of each servicing rights pool is calculated based on the present value of estimated future cash flows using a discount rate commensurate with the risk associated with that pool, given current market conditions. At March 31, 2015, the Company classified $7.9 million of mortgage servicing rights as Level 3. The weighted average discount rate used as an input to value the pool of mortgage servicing rights at March 31, 2015 was 9.15% with discount rates applied ranging from 9%-12%. The higher the rate utilized to discount estimated future cash flows, the lower the fair value measurement. Additionally, fair value estimates include assumptions about prepayment speeds which ranged from 11%-20% or a weighted average prepayment speed of 13.29% used as an input to value the pool of mortgage servicing rights at March 31, 2015. Prepayment speeds are inversely related to the fair value of mortgage servicing rights as an increase in prepayment speeds results in a decreased valuation.
Derivative instruments—The Company’s derivative instruments include interest rate swaps and caps, commitments to fund mortgages for sale into the secondary market (interest rate locks), forward commitments to end investors for the sale of mortgage loans and foreign currency contracts. Interest rate swaps and caps are valued by a third party, using models that primarily use market observable inputs, such as yield curves, and are corroborated by comparison with valuations provided by the respective counterparties. The credit risk associated with derivative financial instruments that are subject to master netting agreements is measured on a net basis by counterparty portfolio. The fair value for mortgage-related derivatives is based on changes in mortgage rates from the date of the commitments. The fair value of foreign currency derivatives is computed based on change in foreign currency rates stated in the contract compared to those prevailing at the measurement date.
Nonqualified deferred compensation assets—The underlying assets relating to the nonqualified deferred compensation plan are included in a trust and primarily consist of non-exchange traded institutional funds which are priced based by an independent third party service.

The following tables present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented:
 
March 31, 2015
(Dollars in thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Available-for-sale securities
 
 
 
 
 
 
 
U.S. Treasury
$
271,474

 
$
—

 
$
271,474

 
$
—

U.S. Government agencies
661,793

 
—

 
661,793

 
—

Municipal
269,912

 
—

 
213,863

 
56,049

Corporate notes
133,814

 
—

 
133,814

 
—

Mortgage-backed
329,591

 
—

 
329,591

 
—

Equity securities
54,446

 
—

 
29,790

 
24,656

Trading account securities
7,811

 
—

 
7,811

 
—

Mortgage loans held-for-sale
446,355

 
—

 
446,355

 
—

Mortgage servicing rights
7,852

 
—

 
—

 
7,852

Nonqualified deferred compensation assets
8,718

 
—

 
8,718

 
—

Derivative assets
62,984

 
—

 
62,984

 
—

Total
$
2,254,750

 
$
—

 
$
2,166,193

 
$
88,557

Derivative liabilities
$
55,225

 
$
—

 
$
55,225

 
$
—

 
 
 
December 31, 2014
(Dollars in thousands)
 
Total
 
Level 1
 
Level 2
 
Level 3
Available-for-sale securities
 
 
 
 
 
 
 
 
U.S. Treasury
 
$
381,805

 
$
—

 
$
381,805

 
$
—

U.S. Government agencies
 
668,316

 
—

 
668,316

 
—

Municipal
 
238,529

 
—

 
179,576

 
58,953

Corporate notes
 
133,579

 
—

 
133,579

 
—

Mortgage-backed
 
318,710

 
—

 
318,710

 
—

Equity securities
 
51,139

 
—

 
27,428

 
23,711

Trading account securities
 
1,206

 
—

 
1,206

 
—

Mortgage loans held-for-sale
 
351,290

 
—

 
351,290

 
—

Mortgage servicing rights
 
8,435

 
—

 
—

 
8,435

Nonqualified deferred compensation assets
 
7,951

 
—

 
7,951

 
—

Derivative assets
 
47,964

 
—

 
47,964

 
—

Total
 
$
2,208,924

 
$
—

 
$
2,117,825

 
$
91,099

Derivative liabilities
 
$
41,180

 
$
—

 
$
41,180

 
$
—


 
March 31, 2014
(Dollars in thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Available-for-sale securities
 
 
 
 
 
 
 
U.S. Treasury
$
340,178

 
$
—

 
$
340,178

 
$
—

U.S. Government agencies
828,275

 
—

 
828,275

 
—

Municipal
175,300

 
—

 
135,528

 
39,772

Corporate notes
135,067

 
—

 
135,067

 
—

Mortgage-backed
417,303

 
—

 
417,303

 
—

Equity securities
53,574

 
—

 
30,136

 
23,438

Trading account securities
1,068

 
—

 
1,068

 
—

Mortgage loans held-for-sale
215,231

 
—

 
215,231

 
—

Mortgage servicing rights
8,719

 
—

 
—

 
8,719

Nonqualified deferred compensation assets
7,783

 
—

 
7,783

 
—

Derivative assets
51,529

 
—

 
51,529

 
—

Total
$
2,234,027

 
$
—

 
$
2,162,098

 
$
71,929

Derivative liabilities
$
37,797

 
$
—

 
$
37,797

 
$
—


The aggregate remaining contractual principal balance outstanding as of March 31, 2015, December 31, 2014 and March 31, 2014 for mortgage loans held-for-sale measured at fair value under ASC 825 was $421.2 million, $327.1 million and $199.3 million, respectively, while the aggregate fair value of mortgage loans held-for-sale was $446.4 million, $351.3 million and $215.2 million, for the same respective periods, as shown in the above tables. There were no nonaccrual loans or loans past due greater than 90 days and still accruing in the mortgage loans held-for-sale portfolio measured at fair value as of March 31, 2015, December 31, 2014 and March 31, 2014.
The changes in Level 3 assets measured at fair value on a recurring basis during the three months ended March 31, 2015 and 2014 are summarized as follows:
 
 
 
Equity securities
 
Mortgage
servicing rights
(Dollars in thousands)
Municipal
 
 
Balance at January 1, 2015
$
58,953

 
$
23,711

 
$
8,435

Total net gains (losses) included in:
 
 
 
 
 
Net Income (1)
—

 
—

 
(583
)
Other comprehensive income
203

 
945

 
—

Purchases
6,674

 
—

 
—

Issuances
—

 
—

 
—

Sales
—

 
—

 
—

Settlements
(9,781
)
 
—

 
—

Net transfers into/(out of) Level 3 
—

 
—

 
—

Balance at March 31, 2015
$
56,049

 
$
24,656

 
$
7,852

 
(1)
Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income.
 
 
 
Equity securities
 
Mortgage
servicing rights
(Dollars in thousands)
Municipal
 
 
Balance at January 1, 2014
$
36,386

 
$
22,163

 
$
8,946

Total net gains (losses) included in:
 
 
 
 
 
Net Income (1)
—

 
—

 
(227
)
Other comprehensive income
147

 
1,275

 
—

Purchases
3,360

 
—

 
—

Issuances
—

 
—

 
—

Sales
—

 
—

 
—

Settlements
(121
)
 
—

 
—

Net transfers into/(out of) Level 3 
—

 
—

 
—

Balance at March 31, 2014
$
39,772

 
$
23,438

 
$
8,719

(1)
Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income.
Also, the Company may be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from impairment charges on individual assets. For assets measured at fair value on a nonrecurring basis that were still held in the balance sheet at the end of the period, the following table provides the carrying value of the related individual assets or portfolios at March 31, 2015.
 
March 31, 2015
 
Three Months
Ended March 31, 2015
Fair Value Losses Recognized, net
(Dollars in thousands)
Total
 
Level 1
 
Level 2
 
Level 3
 
Impaired loans—collateral based
$
69,002

 
$
—

 
$
—

 
$
69,002

 
$
2,731

Other real estate owned, including covered other real estate owned (1)
81,042

 
—

 
—

 
81,042

 
2,362

Total
$
150,044

 
$
—

 
$
—

 
$
150,044

 
$
5,093

(1)
Fair value losses recognized, net on other real estate owned include valuation adjustments and charge-offs during the respective period.
Impaired loans—A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due pursuant to the contractual terms of the loan agreement. A loan restructured in a troubled debt restructuring is an impaired loan according to applicable accounting guidance. Impairment is measured by estimating the fair value of the loan based on the present value of expected cash flows, the market price of the loan, or the fair value of the underlying collateral. Impaired loans are considered a fair value measurement where an allowance is established based on the fair value of collateral. Appraised values, which may require adjustments to market-based valuation inputs, are generally used on real estate collateral-dependent impaired loans.
The Company’s Managed Assets Division is primarily responsible for the valuation of Level 3 measurements of impaired loans. For more information on the Managed Assets Division review of impaired loans refer to Note 7 – Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans. At March 31, 2015, the Company had $112.4 million of impaired loans classified as Level 3. Of the $112.4 million of impaired loans, $69.0 million were measured at fair value based on the underlying collateral of the loan as shown in the table above. The remaining $43.4 million were valued based on discounted cash flows in accordance with ASC 310.
Other real estate owned (including covered other real estate owned)—Other real estate owned is comprised of real estate acquired in partial or full satisfaction of loans and is included in other assets. Other real estate owned is recorded at its estimated fair value less estimated selling costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the allowance for loan losses. Subsequent changes in value are reported as adjustments to the carrying amount and are recorded in other non-interest expense. Gains and losses upon sale, if any, are also charged to other non-interest expense. Fair value is generally based on third party appraisals and internal estimates and is therefore considered a Level 3 valuation.
The Company’s Managed Assets Division is primarily responsible for the valuation of Level 3 measurements for non-covered other real estate owned and covered other real estate owned. At March 31, 2015, the Company had $81.0 million of other real estate owned classified as Level 3. The unobservable input applied to other real estate owned relates to the valuation adjustment determined by the Company’s appraisals. The valuation adjustments applied to other real estate owned range from an 154% write-up to a 79% write-down of the carrying value at March 31, 2015, with a weighted average write-down adjustment of 1.76%. A higher appraisal valuation results in an increased carrying value.
The valuation techniques and significant unobservable inputs used to measure both recurring and non-recurring Level 3 fair value measurements at March 31, 2015 were as follows:
(Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
Fair Value
 
Valuation Methodology
 
Significant Unobservable Input
 
Range
of Inputs
 
Weighted
Average
of Inputs
 
Impact to valuation
from an increased or
higher input value
Measured at fair value on a recurring basis:
 
 
 
 
 
 
 
 
 
 
 
Municipal Securities
$
56,049

 
Bond pricing
 
Equivalent rating
 
BBB-AA+
 
N/A
 
Increase
Equity Securities
24,656

 
Discounted cash flows
 
Discount rate
 
1.70%-2.34%
 
2.04%
 
Decrease
Mortgage Servicing Rights
7,852

 
Discounted cash flows
 
Discount rate
 
9%-12%
 
9.15%
 
Decrease
 
 
 
 
 
Constant prepayment rate (CPR)
 
11%-20%
 
13.29%
 
Decrease
Measured at fair value on a non-recurring basis:
 
 
 
 
 
 
 
 
 
 
 
Impaired loans—collateral based
$
69,002

 
Appraisal value
 
N/A
 
N/A
 
N/A
 
N/A
Other real estate owned, including covered other real estate owned
81,042

 
Appraisal value
 
Property specific valuation adjustment
 
(79)%-154%
 
(1.76)%
 
Increase

The Company is required under applicable accounting guidance to report the fair value of all financial instruments on the consolidated statements of condition, including those financial instruments carried at cost. The table below presents the carrying amounts and estimated fair values of the Company’s financial instruments as of the dates shown:
 
At March 31, 2015
 
At December 31, 2014
 
At March 31, 2014
 
Carrying
 
Fair
 
Carrying
 
Fair
 
Carrying
 
Fair
(Dollars in thousands)
Value
 
Value
 
Value
 
Value
 
Value
 
Value
Financial Assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
290,872

 
$
290,872

 
$
230,707

 
$
230,707

 
$
342,738

 
$
342,738

Interest bearing deposits with banks
697,799

 
697,799

 
998,437

 
998,437

 
540,964

 
540,964

Available-for-sale securities
1,721,030

 
1,721,030

 
1,792,078

 
1,792,078

 
1,949,697

 
1,949,697

Trading account securities
7,811

 
7,811

 
1,206

 
1,206

 
1,068

 
1,068

Federal Home Loan Bank and Federal Reserve Bank stock, at cost
92,948

 
92,948

 
91,582

 
91,582

 
78,524

 
78,524

Brokerage customer receivables
25,287

 
25,287

 
24,221

 
24,221

 
26,884

 
26,884

Mortgage loans held-for-sale, at fair value
446,355

 
446,355

 
351,290

 
351,290

 
215,231

 
215,231

Total loans
15,162,753

 
15,868,532

 
14,636,107

 
15,346,266

 
13,445,638

 
14,078,788

Mortgage servicing rights
7,852

 
7,852

 
8,435

 
8,435

 
8,719

 
8,719

Nonqualified deferred compensation assets
8,718

 
8,718

 
7,951

 
7,951

 
7,783

 
7,783

Derivative assets
62,984

 
62,984

 
47,964

 
47,964

 
51,529

 
51,529

FDIC indemnification asset
10,224

 
10,224

 
11,846

 
11,846

 
60,298

 
60,298

Accrued interest receivable and other
181,998

 
181,998

 
169,156

 
169,156

 
169,580

 
169,580

Total financial assets
$
18,716,631

 
$
19,422,410

 
$
18,370,980

 
$
19,081,139

 
$
16,898,653

 
$
17,531,803

Financial Liabilities
 
 
 
 
 
 
 
 
 
 
 
Non-maturity deposits
$
12,927,014

 
$
12,927,014

 
$
12,142,034

 
$
12,142,034

 
$
10,944,521

 
$
10,944,521

Deposits with stated maturities
4,011,755

 
4,017,565

 
4,139,810

 
4,143,161

 
4,184,524

 
4,197,918

Federal Home Loan Bank advances
416,036

 
422,305

 
733,050

 
738,113

 
387,672

 
393,145

Other borrowings
187,006

 
187,006

 
196,465

 
197,883

 
231,086

 
231,086

Subordinated notes
140,000

 
147,851

 
140,000

 
143,639

 
—

 
—

Junior subordinated debentures
249,493

 
250,196

 
249,493

 
250,305

 
249,493

 
250,578

Derivative liabilities
55,225

 
55,225

 
41,180

 
41,180

 
37,797

 
37,797

Accrued interest payable
8,583

 
8,583

 
8,001

 
8,001

 
7,218

 
7,218

Total financial liabilities
$
17,995,112

 
$
18,015,745

 
$
17,650,033

 
$
17,664,316

 
$
16,042,311

 
$
16,062,263



Not all the financial instruments listed in the table above are subject to the disclosure provisions of ASC Topic 820, as certain assets and liabilities result in their carrying value approximating fair value. These include cash and cash equivalents, interest bearing deposits with banks, brokerage customer receivables, FHLB and FRB stock, FDIC indemnification asset, accrued interest receivable and accrued interest payable and non-maturity deposits.
The following methods and assumptions were used by the Company in estimating fair values of financial instruments that were not previously disclosed.
Loans. Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are analyzed by type such as commercial, residential real-estate, etc. Each category is further segmented by interest rate type (fixed and variable) and term. For variable-rate loans that reprice frequently, estimated fair values are based on carrying values. The fair value of residential loans is based on secondary market sources for securities backed by similar loans, adjusted for differences in loan characteristics. The fair value for other fixed rate loans is estimated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect credit and interest rate risks inherent in the loan. The primary impact of credit risk on the present value of the loan portfolio, however, was assessed through the use of the allowance for loan losses, which is believed to represent the current fair value of probable incurred losses for purposes of the fair value calculation. In accordance with ASC 820, the Company has categorized loans as a Level 3 fair value measurement.
Deposits with stated maturities. The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently in effect for deposits of similar remaining maturities. In accordance with ASC 820, the Company has categorized deposits with stated maturities as a Level 3 fair value measurement.
Federal Home Loan Bank advances. The fair value of Federal Home Loan Bank advances is obtained from the Federal Home Loan Bank which uses a discounted cash flow analysis based on current market rates of similar maturity debt securities to discount cash flows. In accordance with ASC 820, the Company has categorized Federal Home Loan Bank advances as a Level 3 fair value measurement.
Subordinated notes. The fair value of the subordinated notes is based on a market price obtained from an independent pricing vendor. In accordance with ASC 820, the Company has categorized subordinated notes as a Level 2 fair value measurement.
Junior subordinated debentures. The fair value of the junior subordinated debentures is based on the discounted value of contractual cash flows. In accordance with ASC 820, the Company has categorized junior subordinated debentures as a Level 3 fair value measurement.
Stock-Based Compensation Plans
Stock-Based Compensation Plans
Stock-Based Compensation Plans

The 2007 Stock Incentive Plan (“the 2007 Plan”), which was approved by the Company's shareholders in January 2007, permits the grant of incentive stock options, nonqualified stock options, rights and restricted stock. The 2007 Plan initially provided for the issuance of up to 500,000 shares of common stock. In May 2009 and May 2011, the Company's shareholders approved an additional 325,000 shares and 2,860,000 shares, respectively, of common stock that may be offered under the 2007 Plan. All grants made after 2006 have been made pursuant to the 2007 Plan. The 2007 Plan replaced the Wintrust Financial Corporation 1997 Stock Incentive Plan (“the 1997 Plan”) which had substantially similar terms. The 2007 Plan and the 1997 Plan are collectively referred to as “the Plans.” The Plans cover substantially all employees of Wintrust. The Compensation Committee of the Board of Directors administers all stock-based compensation programs and authorizes all awards granted pursuant to the Plans.

The Company historically awarded stock-based compensation in the form time-vested of nonqualified stock options and time-vested restricted share awards (“restricted shares”). The grants of options provide for the purchase shares of Wintrust's common stock at the fair market value of the stock on the date the options are granted. Stock options under the 2007 Plan generally vest ratably over periods of three to five years and have a maximum term of seven years from the date of grant. Stock options granted under the 1997 Plan provided for a maximum term of 10 years. Restricted shares entitle the holders to receive, at no cost, shares of the Company’s common stock. Restricted shares generally vest over periods of one to five years from the date of grant.

Beginning in 2011, the Company has awarded annual grants under The Long-Term Incentive Program (“LTIP”), which is administered under the 2007 Plan. The LTIP is designed in part to align the interests of management with the interests of shareholders, foster retention, create a long-term focus based on sustainable results and provide participants a target long-term incentive opportunity. It is anticipated that LTIP awards will continue to be granted annually. LTIP grants to date have consisted of time-vested nonqualified stock options and performance-based stock and cash awards. Stock options granted under the LTIP have a term of seven years and will generally vest equally over three years based on continued service. Performance-based stock and cash awards granted under the LTIP are contingent upon the achievement of pre-established long-term performance goals set in advance by the Compensation Committee over a three-year period with overlapping performance periods starting at the beginning of each calendar year. These performance awards are granted at a target level, and based on the Company’s achievement of the pre-established long-term goals, the actual payouts can range from 0% to a maximum of 150% (for 2015 awards) or 200% (for prior awards) of the target award. The awards vest in the quarter after the end of the performance period upon certification of the payout by the Compensation Committee of the Board of Directors. Holders of performance-based stock awards are entitled to shares of common stock at no cost.

Holders of restricted share awards and performance-based stock awards received under the Plans are not entitled to vote or receive cash dividends (or cash payments equal to the cash dividends) on the underlying common shares until the awards are vested. Except in limited circumstances, these awards are canceled upon termination of employment without any payment of consideration by the Company.

Stock-based compensation is measured as the fair value of an award on the date of grant, and the measured cost is recognized over the period which the recipient is required to provide service in exchange for the award. The fair values of restricted share and performance-based stock awards are determined based on the average of the high and low trading prices on the grant date, and the fair value of stock options is estimated using a Black-Scholes option-pricing model that utilizes the assumptions outlined in the following table. Option-pricing models require the input of highly subjective assumptions and are sensitive to changes in the option's expected life and the price volatility of the underlying stock, which can materially affect the fair value estimate. Expected life has been based on historical exercise and termination behavior as well as the term of the option, but the expected life of the options granted since the inception of the LTIP awards has been based on the safe harbor rule of the SEC Staff Accounting Bulletin No. 107 “Share-Based Payment” as the Company believes historical exercise data may not provide a reasonable basis to estimate the expected term of these options. Expected stock price volatility is based on historical volatility of the Company's common stock, which correlates with the expected life of the options, and the risk-free interest rate is based on comparable U.S. Treasury rates. Management reviews and adjusts the assumptions used to calculate the fair value of an option on a periodic basis to better reflect expected trends.
The following table presents the weighted average assumptions used to determine the fair value of options granted in the three month periods ending March 31, 2015 and 2014.
 
Three Months Ended
 
March 31,
 
March 31,
 
2015
 
2014
Expected dividend yield
0.9
%
 
0.4
%
Expected volatility
26.5
%
 
30.8
%
Risk-free rate
1.3
%
 
0.7
%
Expected option life (in years)
4.5

 
4.5



Stock based compensation is recognized based upon the number of awards that are ultimately expected to vest, taking into account expected forfeitures. In addition, for performance-based awards, an estimate is made of the number of shares expected to vest as a result of projected performance against the performance criteria in the award to determine the amount of compensation expense to recognize. The estimate is reevaluated periodically and total compensation expense is adjusted for any change in estimate in the current period. Stock-based compensation expense recognized in the Consolidated Statements of Income was $2.3 million in the first quarter of 2015 and $3.8 million in the first quarter of 2014. The first quarter of 2014 includes a $2.1 million charge for a modification to the performance measurement criteria related to the 2011 LTIP performance-based stock grants that were vested and paid out in the first quarter of 2014. The cost of the modification was determined based on the stock price on the date of re-measurement and paid to the holders of the performance-based stock awards in cash.
A summary of the Company's stock option activity for the three months ended March 31, 2015 and March 31, 2014 is presented below:
Stock Options
Common
Shares
 
Weighted
Average
Strike Price
 
Remaining
Contractual
Term (1)
 
Intrinsic
Value (2)
($000)
Outstanding at January 1, 2015
1,618,426

 
$
43.00

 
 
 
 
Conversion of options of acquired company
16,364

 
21.18

 
 
 
 
Granted
487,259

 
44.11

 
 
 
 
Exercised
(51,522
)
 
31.50

 
 
 
 
Forfeited or canceled
(175,579
)
 
54.40

 
 
 
 
Outstanding at March 31, 2015
1,894,948

 
$
42.35

 
4.6
 
$
11,649

Exercisable at March 31, 2015
1,158,991

 
$
41.00

 
3.3
 
$
9,291

Stock Options
Common
Shares
 
Weighted
Average
Strike Price
 
Remaining
Contractual
Term (1)
 
Intrinsic
Value (2)
($000)
Outstanding at January 1, 2014
1,524,672

 
$
42.00

 
 
 
 
Granted
358,440

 
46.86

 
 
 
 
Exercised
(77,311
)
 
34.79

 
 
 
 
Forfeited or canceled
(18,898
)
 
45.56

 
 
 
 
Outstanding at March 31, 2014
1,786,903

 
$
43.25

 
3.7
 
$
12,834

Exercisable at March 31, 2014
1,166,309

 
$
43.96

 
2.4
 
$
8,655


(1)
Represents the remaining weighted average contractual life in years.
(2)
Aggregate intrinsic value represents the total pre-tax intrinsic value (i.e., the difference between the Company's stock price on the last trading day of the quarter and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the quarter. Options with exercise prices above the stock price on the last trading day of the quarter are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Company's stock.

The weighted average grant date fair value per share of options granted during the three months ended March 31, 2015 and March 31, 2014 was $9.68 and $11.96, respectively. The aggregate intrinsic value of options exercised during the three months ended March 31, 2015 and 2014, was $744,000 and $911,000, respectively.

A summary of the Plans' restricted share activity for the three months ended March 31, 2015 and March 31, 2014 is presented below:
 
Three months ended March 31, 2015
 
Three months ended March 31, 2014
Restricted Shares
Common
Shares

Weighted
Average
Grant-Date
Fair Value

Common
Shares

Weighted
Average
Grant-Date
Fair Value
Outstanding at January 1
146,112

 
$
47.45

 
181,522

 
$
43.39

Granted
12,300

 
44.11

 
2,775

 
46.86

Vested and issued
(4,925
)
 
36.74

 
(24,900
)
 
33.81

Forfeited
—

 
—

 
(451
)
 
44.29

Outstanding at March 31
153,487

 
$
47.53

 
158,946

 
$
44.95

Vested, but not issuable at March 31
85,000

 
$
51.88

 
85,000

 
$
51.88


A summary of the 2007 Plan's performance-based stock award activity, based on the target level of the awards, for the three months ended March 31, 2015 and March 31, 2014 is presented below:
 
Three months ended March 31, 2015
 
Three months ended March 31, 2014
Performance-based Stock
Common
Shares
 
Weighted
Average
Grant-Date
Fair Value
 
Common
Shares
 
Weighted
Average
Grant-Date
Fair Value
Outstanding at January 1
295,679

 
$
38.18

 
307,512

 
$
34.01

Granted
102,828

 
44.11

 
91,501

 
46.86

Vested and issued
(78,590
)
 
31.10

 
(15,944
)
 
33.25

Forfeited
(29,926
)
 
31.41

 
(81,551
)
 
33.38

Outstanding at March 31
289,991

 
$
42.90

 
301,518

 
$
38.12


Based on the achievement of the pre-established performance goals over a three-year period, the actual performance-based award payouts can be adjusted downward to 0% or upward to a maximum of 150% of the target awards granted in 2015 and 200% of the target awards granted prior to 2015. The awards vest in the quarter after the end of the performance period. The Company issues new shares to satisfy its obligation to issue shares granted pursuant to the Plans.
Shareholders' Equity and Earnings Per Share
Shareholders' Equity and Earnings Per Share
Shareholders’ Equity and Earnings Per Share

Series C Preferred Stock
In March 2012, the Company issued and sold 126,500 shares of non-cumulative perpetual convertible preferred stock, Series C, liquidation preference $1,000 per share (the “Series C Preferred Stock”) for $126.5 million in an equity offering. If declared, dividends on the Series C Preferred Stock are payable quarterly in arrears at a rate of 5.00% per annum. The Series C Preferred Stock is convertible into common stock at the option of the holder at a conversion rate of 24.3132 shares of common stock per share of Series C Preferred Stock subject to customary anti-dilution adjustments. In the first quarter of 2015, pursuant to such terms, 40 shares of the Series C Preferred Stock were converted at the option of the respective holders into 972 shares of the Company's common stock. In 2014, 10 shares of the Series C Preferred Stock were converted at the option of the respective holders into 244 shares of the Company's common stock. On and after April 15, 2017, the Company will have the right under certain circumstances to cause the Series C Preferred Stock to be converted into common stock if the closing price of the Company’s common stock exceeds a certain amount.
Common Stock Warrant
Pursuant to the U.S. Department of the Treasury’s (the “U.S. Treasury”) Capital Purchase Program, on December 19, 2008, the Company issued to the U.S. Treasury a warrant to exercise 1,643,295 warrant shares of Wintrust common stock at a per share exercise price of $22.82, subject to customary anti-dilution adjustments, and with a term of 10 years. In February 2011, the U.S. Treasury sold all of its interest in the warrant issued to it in a secondary underwritten public offering. No warrant shares were exercised in the first quarter of 2015. During 2014, certain holders of the interest in the warrant exercised 705,878 warrant shares at the exercise price, which resulted in 363,155 shares of common stock issued. At March 31, 2015, all remaining holders of the interest in the warrant are able to exercise 937,417 warrant shares.
Other
In January 2015, the Company issued 422,121 shares of its common stock in the acquisition of Delavan.
At the January 2015 Board of Directors meeting, a quarterly cash dividend of $0.11 per share ($0.44 on an annualized basis) was declared. It was paid on February 19, 2015 to shareholders of record as of February 5, 2015.

Accumulated Other Comprehensive Income (Loss)

The following tables summarize the components of other comprehensive income (loss), including the related income tax effects, and the related amount reclassified to net income for the periods presented (in thousands).
 
 
Accumulated
Unrealized (Losses) Gains on Securities
 
Accumulated
Unrealized
Losses on
Derivative
Instruments
 
Accumulated
Foreign
Currency
Translation
Adjustments
 
Total
Accumulated
Other
Comprehensive
(Loss) Income
Balance at January 1, 2015
$
(9,533
)
 
$
(2,517
)
 
$
(25,282
)
 
$
(37,332
)
Other comprehensive income (loss) during the period, net of tax, before reclassifications
15,945

 
(593
)
 
(9,045
)
 
6,307

Amount reclassified from accumulated other comprehensive income (loss), net of tax
(318
)
 
252

 
—

 
(66
)
Net other comprehensive income (loss)during the period, net of tax
$
15,627

 
$
(341
)
 
$
(9,045
)
 
$
6,241

Balance at March 31, 2015
$
6,094

 
$
(2,858
)
 
$
(34,327
)
 
$
(31,091
)
 
 
 
 
 
 
 
 
Balance at January 1, 2014
$
(53,665
)
 
$
(2,462
)
 
$
(6,909
)
 
$
(63,036
)
Other comprehensive income (loss) during the period, net of tax, before reclassifications
13,722

 
(356
)
 
(7,400
)
 
5,966

Amount reclassified from accumulated other comprehensive income (loss), net of tax
20

 
297

 
—

 
317

Net other comprehensive income (loss) during the period, net of tax
$
13,742

 
$
(59
)
 
$
(7,400
)
 
$
6,283

Balance at March 31, 2014
$
(39,923
)
 
$
(2,521
)
 
$
(14,309
)
 
$
(56,753
)



 
 
Amount Reclassified from Accumulated Other Comprehensive Income for the
 
Details Regarding the Component of Accumulated Other Comprehensive Income
 
Three months ended
 
Impacted Line on the Consolidated Statements of Income
 
March 31,
 
 
2015
 
2014
 
Accumulated unrealized losses on securities
 
 
 
 
 
 
Gains (losses) included in net income
 
$
524

 
$
(33
)
 
Gains (losses) on available-for-sale securities, net
 
 
524

 
(33
)
 
Income before taxes
Tax effect
 
$
(206
)
 
$
13

 
Income tax expense
Net of tax
 
$
318

 
$
(20
)
 
Net income
 
 
 
 
 
 
 
Accumulated unrealized losses on derivative instruments
 
 
 
 
 
 
Amount reclassified to interest expense on junior subordinated debentures
 
$
414

 
$
493

 
Interest on junior subordinated debentures
 
 
(414
)
 
(493
)
 
Income before taxes
Tax effect
 
$
162

 
$
196

 
Income tax expense
Net of tax
 
$
(252
)
 
$
(297
)
 
Net income

Earnings per Share
The following table shows the computation of basic and diluted earnings per share for the periods indicated:
 
 
 
 
Three Months Ended
(In thousands, except per share data)
 
 
March 31,
2015
 
March 31,
2014
Net income
 
 
$
39,052

 
$
34,500

Less: Preferred stock dividends and discount accretion
 
 
1,581

 
1,581

Net income applicable to common shares—Basic
(A)
 
37,471

 
32,919

Add: Dividends on convertible preferred stock, if dilutive
 
 
1,581

 
1,581

Net income applicable to common shares—Diluted
(B)
 
39,052

 
34,500

Weighted average common shares outstanding
(C)
 
47,239

 
46,195

Effect of dilutive potential common shares
 
 
 
 
 
Common stock equivalents
 
 
1,158

 
1,434

Convertible preferred stock, if dilutive
 
 
3,075

 
3,075

Total dilutive potential common shares
 
 
4,233

 
4,509

Weighted average common shares and effect of dilutive potential common shares
(D)
 
51,472

 
50,704

Net income per common share:
 
 
 
 
 
Basic
(A/C)
 
$
0.79

 
$
0.71

Diluted
(B/D)
 
$
0.76

 
$
0.68


Potentially dilutive common shares can result from stock options, restricted stock unit awards, stock warrants, the Company’s convertible preferred stock and shares to be issued under the Employee Stock Purchase Plan and the Directors Deferred Fee and Stock Plan, being treated as if they had been either exercised or issued, computed by application of the treasury stock method. While potentially dilutive common shares are typically included in the computation of diluted earnings per share, potentially dilutive common shares are excluded from this computation in periods in which the effect would reduce the loss per share or increase the income per share. For diluted earnings per share, net income applicable to common shares can be affected by the conversion of the Company’s convertible preferred stock. Where the effect of this conversion would reduce the loss per share or increase the income per share, net income applicable to common shares is not adjusted by the associated preferred dividends.
Subsequent Events
Subsequent Events
Subsequent Events

On April 2, 2015, the Company announced the signing of a definitive agreement to acquire Suburban. Suburban is the parent company of Suburban Bank & Trust Company ("SBT") which operates ten banking locations in Chicago and its suburbs. At December 31, 2014, SBT had approximately $470 million in assets, approximately $297 million in loans, and approximately $411 million in deposits.

On March 30, 2015, the Company announced the signing of a definitive agreement, through its subsidiary Wintrust Bank, to acquire North Bank, headquartered in downtown Chicago, Illinois. Through this transaction, Wintrust Bank will acquire two banking locations. At December 31, 2014, North Bank approximately $108 million in assets, approximately $55 million in loans, and approximately $96 million in deposits.

On March 2, 2015, the Company announced the signing of a definitive agreement to acquire CFIS. CFIS is the parent company of Community Bank - Wheaton/Glen Ellyn ("CBWGE"). Through this transaction, the Company will acquire CBWGE's four banking locations in Wheaton and Glen Ellyn, Illinois. At December 31, 2014, CBWGE had approximately $343 million in assets and approximately $310 million in deposits.
Basis of Presentation (Policies)
Income Tax, Policy 
Accounting for Investments in Qualified Affordable Housing Projects

In January 2014, the FASB issued ASU No. 2014-01, “Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects,” to provide guidance on accounting for investments by a reporting entity in flow-through limited liability entities that invest in affordable housing projects that qualify for the low-income housing tax credit. This ASU permits a new accounting treatment, if certain conditions are met, which allows the Company to amortize the initial cost of an investment in proportion to the amount of tax credits and other tax benefits received with recognition of the investment performance in income tax expense. The Company adopted this new guidance beginning January 1, 2015. The guidance did not have a material impact on the Company's consolidated financial statements.
Loans and Leases Receivable, Troubled Debt Restructuring, Policy 
Repossession of Residential Real Estate Collateral

In January 2014, the FASB issued ASU No. 2014-04, “Receivables - Troubled Debt Restructurings by Creditors (Topic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” to address diversity in practice and clarify guidance regarding the accounting for an in-substance repossession or foreclosure of residential real estate collateral. This ASU clarifies that an in-substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or the borrower conveying all interest in the residential real estate property to the creditor. Additionally, this ASU requires disclosure of both the amount of foreclosed residential real estate property held by the Company and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The Company adopted this new guidance beginning January 1, 2015. The guidance did not have a material impact on the Company's consolidated financial statements.
The Company’s approach to restructuring loans, excluding PCI loans, is built on its credit risk rating system which requires credit management personnel to assign a credit risk rating to each loan. In each case, the loan officer is responsible for recommending a credit risk rating for each loan and ensuring the credit risk ratings are appropriate. These credit risk ratings are then reviewed and approved by the bank’s chief credit officer and/or concurrence credit officer. Credit risk ratings are determined by evaluating a number of factors including a borrower’s financial strength, cash flow coverage, collateral protection and guarantees. The Company’s credit risk rating scale is one through ten with higher scores indicating higher risk. In the case of loans rated six or worse following modification, the Company’s Managed Assets Division evaluates the loan and the credit risk rating and determines that the loan has been restructured to be reasonably assured of repayment and of performance according to the modified terms and is supported by a current, well-documented credit assessment of the borrower’s financial condition and prospects for repayment under the revised terms.
A modification of a loan, excluding PCI loans, with an existing credit risk rating of six or worse or a modification of any other credit which will result in a restructured credit risk rating of six or worse, must be reviewed for possible TDR classification. In that event, our Managed Assets Division conducts an overall credit and collateral review. A modification of these loans is considered to be a TDR if both (1) the borrower is experiencing financial difficulty and (2) for economic or legal reasons, the bank grants a concession to a borrower that it would not otherwise consider. The modification of a loan, excluding PCI loans, where the credit risk rating is five or better both before and after such modification is not considered to be a TDR. Based on the Company’s credit risk rating system, it considers that borrowers whose credit risk rating is five or better are not experiencing financial difficulties and therefore, are not considered TDRs.
All credits determined to be a TDR will continue to be classified as a TDR in all subsequent periods, unless at any subsequent re-modification the borrower has been in compliance with the loan’s modified terms for a period of six months (including over a calendar year-end) and the current interest rate represents a market rate at the time of restructuring. The Managed Assets Division, in consultation with the respective loan officer, determines whether the modified interest rate represented a current market rate at the time of restructuring. Using knowledge of current market conditions and rates, competitive pricing on recent loan originations, and an assessment of various characteristics of the modified loan (including collateral position and payment history), an appropriate market rate for a new borrower with similar risk is determined. If the modified interest rate meets or exceeds this market rate for a new borrower with similar risk, the modified interest rate represents a market rate at the time of restructuring. Additionally, before removing a loan from TDR classification, a review of the current or previously measured impairment on the loan and any concerns related to future performance by the borrower is conducted. If concerns exist about the future ability of the borrower to meet its obligations under the loans based on a credit review by the Managed Assets Division, the TDR classification is not removed from the loan.
TDRs are reviewed at the time of the modification and on a quarterly basis to determine if a specific reserve is necessary. The carrying amount of the loan is compared to the expected payments to be received, discounted at the loan's original rate, or for collateral dependent loans, to the fair value of the collateral. Any shortfall is recorded as a specific reserve. The Company, in accordance with ASC 310-10, continues to individually measure impairment of these loans after the TDR classification is removed.
Each TDR was reviewed for impairment at March 31, 2015 and approximately $866,000 of impairment was present and appropriately reserved for through the Company’s normal reserving methodology in the Company’s allowance for loan losses. For TDRs in which impairment is calculated by the present value of future cash flows, the Company records interest income representing the decrease in impairment resulting from the passage of time during the respective period, which differs from interest income from contractually required interest on these specific loans.  During the three months ended March 31, 2015 and 2014, the Company recorded $193,000 and $132,000, respectively, in interest income representing this decrease in impairment.
TDRs may arise in which, due to financial difficulties experienced by the borrower, the Company obtains through physical possession one or more collateral assets in satisfaction of all or part of an existing credit. Once possession is obtained, the Company reclassifies the appropriate portion of the remaining balance of the credit from loans to OREO, which is included within other assets in the Consolidated Statements of Condition. For any residential real estate property collateralizing a consumer mortgage loan, the Company is considered to possess the related collateral only if legal title is obtained upon completion of foreclosure, or the borrower conveys all interest in the residential real estate property to the Company through completion of a deed in lieu of foreclosure or similar legal agreement. Excluding covered OREO, at March 31, 2015, the Company had $9.9 million of foreclosed residential real estate properties included within OREO.
FDIC-Assisted Transactions, Policy 
Since 2010, the Company acquired the banking operations, including the acquisition of certain assets and the assumption of liabilities, of nine financial institutions in FDIC-assisted transactions. Loans comprise the majority of the assets acquired in nearly all of these FDIC-assisted transactions since 2010, most of which are subject to loss sharing agreements with the FDIC whereby the FDIC has agreed to reimburse the Company for 80% of losses incurred on the purchased loans, other real estate owned (“OREO”), and certain other assets. Additionally, the loss share agreements with the FDIC require the Company to reimburse the FDIC in the event that actual losses on covered assets are lower than the original loss estimates agreed upon with the FDIC with respect of such assets in the loss share agreements. The Company refers to the loans subject to these loss-sharing agreements as “covered loans” and uses the term “covered assets” to refer to covered loans, covered OREO and certain other covered assets. The agreements with the FDIC require that the Company follow certain servicing procedures or risk losing the FDIC reimbursement of covered asset losses.
The loans covered by the loss sharing agreements are classified and presented as covered loans and the estimated reimbursable losses are recorded as an FDIC indemnification asset in the Consolidated Statements of Condition. The Company recorded the acquired assets and liabilities at their estimated fair values at the acquisition date. The fair value for loans reflected expected credit losses at the acquisition date. Therefore, the Company will only recognize a provision for credit losses and charge-offs on the acquired loans for any further credit deterioration subsequent to the acquisition date. See Note 7 — Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans for further discussion of the allowance on covered loans.
The loss share agreements with the FDIC cover realized losses on loans, foreclosed real estate and certain other assets. These loss share assets are measured separately from the loan portfolios because they are not contractually embedded in the loans and are not transferable with the loans should the Company choose to dispose of them. Fair values at the acquisition dates were estimated based on projected cash flows available for loss-share based on the credit adjustments estimated for each loan pool and the loss share percentages. The loss share assets are recorded as FDIC indemnification assets on the Consolidated Statements of Condition. Subsequent to the acquisition date, reimbursements received from the FDIC for actual incurred losses will reduce the FDIC indemnification assets. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will also reduce the FDIC indemnification assets. Although these assets are contractual receivables from the FDIC, there are no contractual interest rates. Additional expected losses, to the extent such expected losses result in recognition of an allowance for covered loan losses, will increase the FDIC indemnification asset. The corresponding accretion is recorded as a component of non-interest income on the Consolidated Statements of Income.
Purchased Credit Impaired (PCI) Loans, Policy 
Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date. Expected future cash flows at the purchase date in excess of the fair value of loans are recorded as interest income over the life of the loans if the timing and amount of the future cash flows is reasonably estimable (“accretable yield”). The difference between contractually required payments and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference and represents probable losses in the portfolio.
In determining the acquisition date fair value of PCI loans, and in subsequent accounting, the Company aggregates these purchased loans into pools of loans by common risk characteristics, such as credit risk rating and loan type. Subsequent to the purchase date, increases in cash flows over those expected at the purchase date are recognized as interest income prospectively. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses.
The Company purchased a portfolio of life insurance premium finance receivables in 2009. These purchased life insurance premium finance receivables are valued on an individual basis with the accretable component being recognized into interest income using the effective yield method over the estimated remaining life of the loans. The non-accretable portion is evaluated each quarter and if the loans’ credit related conditions improve, a portion is transferred to the accretable component and accreted over future periods. In the event a specific loan prepays in whole, any remaining accretable and non-accretable discount is recognized in income immediately. If credit related conditions deteriorate, an allowance related to these loans will be established as part of the provision for credit losses.
Cash and Cash Equivalents, Policy 
For purposes of the Consolidated Statements of Cash Flows, the Company considers cash and cash equivalents to include cash on hand, cash items in the process of collection, non-interest bearing amounts due from correspondent banks, federal funds sold and securities purchased under resale agreements with original maturities of three months or less.
Available-for-sale Securities, Policy 
The Company conducts a regular assessment of its investment securities to determine whether securities are other-than-temporarily impaired considering, among other factors, the nature of the securities, credit ratings or financial condition of the issuer, the extent and duration of the unrealized loss, expected cash flows, market conditions and the Company’s ability to hold the securities through the anticipated recovery period.
Finance, Loans and Leases Receivable, Policy 
Certain premium finance receivables are recorded net of unearned income. The unearned income portions of such premium finance receivables were $48.1 million at March 31, 2015, $46.9 million at December 31, 2014 and $40.3 million at March 31, 2014, respectively. Certain life insurance premium finance receivables attributable to the life insurance premium finance loan acquisition in 2009 as well as PCI loans are recorded net of credit discounts.
Receivables, Policy 
These amounts include accretion from both covered and non-covered loans, and are included together within interest and fees on loans in the Consolidated Statements of Income.
Allowance and Nonperforming Loans, Allowance Policy 
As a result of this initial review by the Company’s Managed Asset Division, the credit risk rating is reviewed and a portion of the outstanding loan balance may be deemed uncollectible or an impairment reserve may be established. The Company’s impairment analysis utilizes an independent re-appraisal of the collateral (unless such a third-party evaluation is not possible due to the unique nature of the collateral, such as a closely-held business or thinly traded securities). In the case of commercial real-estate collateral, an independent third party appraisal is ordered by the Company’s Real Estate Services Group to determine if there has been any change in the underlying collateral value. These independent appraisals are reviewed by the Real Estate Services Group and sometimes by independent third party valuation experts and may be adjusted depending upon market conditions.
Through the credit risk rating process, loans are reviewed to determine if they are performing in accordance with the original contractual terms. If the borrower has failed to comply with the original contractual terms, further action may be required by the Company, including a downgrade in the credit risk rating, movement to non-accrual status, a charge-off or the establishment of a specific impairment reserve. If we determine that a loan amount, or portion thereof, is uncollectible, the loan’s credit risk rating is immediately downgraded to an 8 or 9 and the uncollectible amount is charged-off. Any loan that has a partial charge-off continues to be assigned a credit risk rating of an 8 or 9 for the duration of time that a balance remains outstanding. The Company undertakes a thorough and ongoing analysis to determine if additional impairment and/or charge-offs are appropriate and to begin a workout plan for the credit to minimize actual losses.
If, based on current information and events, it is probable that the Company will be unable to collect all amounts due to it according to the contractual terms of the loan agreement, a specific impairment reserve is established. In determining the appropriate charge-off for collateral-dependent loans, the Company considers the results of appraisals for the associated collateral.
Loans and Leases Receivable, Nonperforming Loan and Lease, Policy 
Non-performing loans include all non-accrual loans (8 and 9 risk ratings) as well as loans 90 days past due and still accruing interest, excluding PCI loans. The remainder of the portfolio is considered performing under the contractual terms of the loan agreement.
Loans and Leases Receivable, Allowance for Loan Losses, Policy 
In conjunction with FDIC-assisted transactions, the Company entered into loss share agreements with the FDIC. Additional expected losses, to the extent such expected losses result in the recognition of an allowance for loan losses, will increase the FDIC indemnification asset. The allowance for loan losses for loans acquired in FDIC-assisted transactions is determined without giving consideration to the amounts recoverable through loss share agreements (since the loss share agreements are separately accounted for and thus presented “gross” on the balance sheet). On the Consolidated Statements of Income, the provision for credit losses is reported net of changes in the amount recoverable under the loss share agreements. Reductions to expected losses, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, will reduce the FDIC indemnification asset. Additions to expected losses will require an increase to the allowance for loan losses, and a corresponding increase to the FDIC indemnification asset.
Impaired Financing Receivable, Policy 
These impaired loans require an allowance for loan losses because the estimated fair value of the loans or related collateral is less than the recorded investment in the loans.
Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest.
A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due pursuant to the contractual terms of the loan agreement. A loan restructured in a troubled debt restructuring is an impaired loan according to applicable accounting guidance. Impairment is measured by estimating the fair value of the loan based on the present value of expected cash flows, the market price of the loan, or the fair value of the underlying collateral. Impaired loans are considered a fair value measurement where an allowance is established based on the fair value of collateral. Appraised values, which may require adjustments to market-based valuation inputs, are generally used on real estate collateral-dependent impaired loans.
Goodwill and Intangible Assets, Intangible Assets, Policy 
The core deposit intangibles recognized in connection with prior bank acquisitions are amortized over a ten-year period on an accelerated basis. The customer list intangibles recognized in connection with the purchase of life insurance premium finance assets in 2009 are being amortized over an 18-year period on an accelerated basis while the customer list intangibles recognized in connection with prior acquisitions within the wealth management segment are being amortized over a ten-year period on a straight-line basis.
Debt, Policy 
The proceeds received from the transaction are reflected on the Company’s Consolidated Statements of Condition as a secured borrowing owed to the unrelated third party and translated to the Company’s reporting currency as of the respective date.
FHLB advances are stated at par value of the debt adjusted for unamortized fair value adjustments recorded in connection with advances acquired through acquisitions.
Offsetting Assets and Liabilities, Policy 
The Company records securities sold under repurchase agreements at their gross value and does not offset positions on the Consolidated Statements of Condition.
Repurchase Agreements, Policy 
Securities pledged for customer balances in sweep accounts and short-term borrowings from brokers are maintained under the Company’s control and consist of U.S. Government agency, mortgage-backed and corporate securities. These securities are included in the available-for-sale securities portfolio as reflected on the Company’s Consolidated Statements of Condition.
Segment Reporting, Policy 
The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management.
The three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. In addition, each segment’s customer base has varying characteristics and each segment has a different regulatory environment. While the Company’s management monitors each of the fifteen bank subsidiaries’ operations and profitability separately, these subsidiaries have been aggregated into one reportable operating segment due to the similarities in products and services, customer base, operations, profitability measures, and economic characteristics.
For purposes of internal segment profitability, management allocates certain intersegment and parent company balances. Management allocates a portion of revenues to the specialty finance segment related to loans originated by the specialty finance segment and sold to the community banking segment. Similarly, for purposes of analyzing the contribution from the wealth management segment, management allocates a portion of the net interest income earned by the community banking segment on deposit balances of customers of the wealth management segment to the wealth management segment. See Note 9 — Deposits, for more information on these deposits. Finally, expenses incurred at the Wintrust parent company are allocated to each segment based on each segment's risk-weighted assets.
The segment financial information provided in the following tables has been derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the segments are substantially similar to as those described in “Summary of Significant Accounting Policies” in Note 1 of the Company’s 2014 Form 10-K. The Company evaluates segment performance based on after-tax profit or loss and other appropriate profitability measures common to each segment.
Derivatives, Policy 
The Company recognizes derivative financial instruments in the consolidated financial statements at fair value regardless of the purpose or intent for holding the instrument. The Company records derivative assets and derivative liabilities on the Consolidated Statements of Condition within accrued interest receivable and other assets and accrued interest payable and other liabilities, respectively. Changes in the fair value of derivative financial instruments are either recognized in income or in shareholders’ equity as a component of other comprehensive income depending on whether the derivative financial instrument qualifies for hedge accounting and, if so, whether it qualifies as a fair value hedge or cash flow hedge. Generally, changes in fair values of derivatives accounted for as fair value hedges are recorded in income in the same period and in the same income statement line as changes in the fair values of the hedged items that relate to the hedged risk(s). Changes in fair values of derivative financial instruments accounted for as cash flow hedges, to the extent they are effective hedges, are recorded as a component of other comprehensive income, net of deferred taxes, and reclassified to earnings when the hedged transaction affects earnings. Changes in fair values of derivative financial instruments not designated in a hedging relationship pursuant to ASC 815, including changes in fair value related to the ineffective portion of cash flow hedges, are reported in non-interest income during the period of the change. Derivative financial instruments are valued by a third party and are corroborated through comparison with valuations provided by the respective counterparties. Fair values of certain mortgage banking derivatives (interest rate lock commitments and forward commitments to sell mortgage loans) are estimated based on changes in mortgage interest rates from the date of the loan commitment. The fair value of foreign currency derivatives is computed based on changes in foreign currency rates stated in the contract compared to those prevailing at the measurement date.
The fair values of these derivatives were estimated based on changes in mortgage rates from the dates of the commitments. Changes in the fair value of these mortgage banking derivatives are included in mortgage banking revenue.
Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings.
For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged item in the same line item as the offsetting loss or gain on the related derivatives. The Company recognized a net loss of $4,000 and $2,000 in other income related to hedge ineffectiveness for the three months ended March 31, 2015 and 2014, respectively.
On June 1, 2013, the Company de-designated a $96.5 million cap which was previously designated as a fair value hedge of interest rate risk associated with an embedded cap in one of the Company’s floating rate loans. The hedged loan was restructured which resulted in the interest rate cap no longer qualifying as an effective fair value hedge. As such, the interest rate cap derivative is no longer accounted for under hedge accounting and all changes in value subsequent to June 1, 2013 are recorded in earnings. Additionally, the Company has recorded amortization of the basis in the previously hedged item as a reduction to interest income of $43,000 in both the three month periods ended March 31, 2015 and 2014, respectively.
The effective portion of changes in the fair value of these cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified to interest expense as interest payments are made on the Company’s variable rate junior subordinated debentures. The changes in fair value (net of tax) are separately disclosed in the Consolidated Statements of Comprehensive Income. The ineffective portion of the change in fair value of these derivatives is recognized directly in earnings; however, no hedge ineffectiveness was recognized during the three months ended March 31, 2015 or March 31, 2014. The Company uses the hypothetical derivative method to assess and measure hedge effectiveness.
Derivatives, Offsetting Fair Value Amounts, Policy 
The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative assets and liabilities on the Consolidated Statements of Condition
Fair Value of Financial Instruments, Policy 
The Company measures, monitors and discloses certain of its assets and liabilities on a fair value basis. These financial assets and financial liabilities are measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observability of the assumptions used to determine fair value. These levels are:

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Level 1—unadjusted quoted prices in active markets for identical assets or liabilities.

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Level 2—inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability or inputs that are derived principally from or corroborated by observable market data by correlation or other means.

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Level 3—significant unobservable inputs that reflect the Company’s own assumptions that market participants would use in pricing the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
A financial instrument’s categorization within the above valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the assets or liabilities. Following is a description of the valuation methodologies used for the Company’s assets and liabilities measured at fair value on a recurring basis.
Available-for-sale and trading account securities—Fair values for available-for-sale and trading securities are typically based on prices obtained from independent pricing vendors. Securities measured with these valuation techniques are generally classified as Level 2 of the fair value hierarchy. Typically, standard inputs such as benchmark yields, reported trades for similar securities, issuer spreads, benchmark securities, bids, offers and reference data including market research publications are used to fair value a security. When these inputs are not available, broker/dealer quotes may be obtained by the vendor to determine the fair value of the security. We review the vendor’s pricing methodologies to determine if observable market information is being used, versus unobservable inputs. Fair value measurements using significant inputs that are unobservable in the market due to limited activity or a less liquid market are classified as Level 3 in the fair value hierarchy.
The Company’s Investment Operations Department is responsible for the valuation of Level 3 available-for-sale securities. The methodology and variables used as inputs in pricing Level 3 securities are derived from a combination of observable and unobservable inputs. The unobservable inputs are determined through internal assumptions that may vary from period to period due to external factors, such as market movement and credit rating adjustments.
At March 31, 2015, the Company classified $56.0 million of municipal securities as Level 3. These municipal securities are bond issues for various municipal government entities located in the Chicago metropolitan area and southern Wisconsin and are privately placed, non-rated bonds without CUSIP numbers. The Company’s methodology for pricing the non-rated bonds focuses on three distinct inputs: equivalent rating, yield and other pricing terms. To determine the rating for a given non-rated municipal bond, the Investment Operations Department references a publicly issued bond by the same issuer if available. A reduction is then applied to the rating obtained from the comparable bond, as the Company believes if liquidated, a non-rated bond would be valued less than a similar bond with a verifiable rating. The reduction applied by the Company is one complete rating grade (i.e. a “AA” rating for a comparable bond would be reduced to “A” for the Company’s valuation). In the first quarter of 2015, all of the ratings derived in the above process by Investment Operations were BBB or better, for both bonds with and without comparable bond proxies. The fair value measurement of municipal bonds is sensitive to the rating input, as a higher rating typically results in an increased valuation. The remaining pricing inputs used in the bond valuation are observable. Based on the rating determined in the above process, Investment Operations obtains a corresponding current market yield curve available to market participants. Other terms including coupon, maturity date, redemption price, number of coupon payments per year, and accrual method are obtained from the individual bond term sheets. Certain municipal bonds held by the Company at March 31, 2015 have a call date that has passed, and are now continuously callable. When valuing these bonds, the fair value is capped at par value as the Company assumes a market participant would not pay more than par for a continuously callable bond.
At March 31, 2015, the Company held $24.7 million of equity securities classified as Level 3. The securities in Level 3 are primarily comprised of auction rate preferred securities. The Company utilizes an independent pricing vendor to provide a fair market valuation of these securities. The vendor’s valuation methodology includes modeling the contractual cash flows of the underlying preferred securities and applying a discount to these cash flows by a credit spread derived from the market price of the securities underlying debt. At March 31, 2015, the vendor considered five different securities whose implied credit spreads were believed to provide a proxy for the Company’s auction rate preferred securities. The credit spreads ranged from 1.70%-2.34% with an average of 2.04% which was added to three-month LIBOR to be used as the discount rate input to the vendor’s model. Fair value of the securities is sensitive to the discount rate utilized as a higher discount rate results in a decreased fair value measurement.
Mortgage loans held-for-sale—The fair value of mortgage loans held-for-sale is determined by reference to investor price sheets for loan products with similar characteristics.
Mortgage servicing rights—Fair value for mortgage servicing rights is determined utilizing a third party valuation model which stratifies the servicing rights into pools based on product type and interest rate. The fair value of each servicing rights pool is calculated based on the present value of estimated future cash flows using a discount rate commensurate with the risk associated with that pool, given current market conditions. At March 31, 2015, the Company classified $7.9 million of mortgage servicing rights as Level 3. The weighted average discount rate used as an input to value the pool of mortgage servicing rights at March 31, 2015 was 9.15% with discount rates applied ranging from 9%-12%. The higher the rate utilized to discount estimated future cash flows, the lower the fair value measurement. Additionally, fair value estimates include assumptions about prepayment speeds which ranged from 11%-20% or a weighted average prepayment speed of 13.29% used as an input to value the pool of mortgage servicing rights at March 31, 2015. Prepayment speeds are inversely related to the fair value of mortgage servicing rights as an increase in prepayment speeds results in a decreased valuation.
Derivative instruments—The Company’s derivative instruments include interest rate swaps and caps, commitments to fund mortgages for sale into the secondary market (interest rate locks), forward commitments to end investors for the sale of mortgage loans and foreign currency contracts. Interest rate swaps and caps are valued by a third party, using models that primarily use market observable inputs, such as yield curves, and are corroborated by comparison with valuations provided by the respective counterparties. The credit risk associated with derivative financial instruments that are subject to master netting agreements is measured on a net basis by counterparty portfolio. The fair value for mortgage-related derivatives is based on changes in mortgage rates from the date of the commitments. The fair value of foreign currency derivatives is computed based on change in foreign currency rates stated in the contract compared to those prevailing at the measurement date.
Nonqualified deferred compensation assets—The underlying assets relating to the nonqualified deferred compensation plan are included in a trust and primarily consist of non-exchange traded institutional funds which are priced based by an independent third party service.

Fair Value Measurement, Policy 
Also, the Company may be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from impairment charges on individual assets.
The following methods and assumptions were used by the Company in estimating fair values of financial instruments that were not previously disclosed.
Loans. Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are analyzed by type such as commercial, residential real-estate, etc. Each category is further segmented by interest rate type (fixed and variable) and term. For variable-rate loans that reprice frequently, estimated fair values are based on carrying values. The fair value of residential loans is based on secondary market sources for securities backed by similar loans, adjusted for differences in loan characteristics. The fair value for other fixed rate loans is estimated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect credit and interest rate risks inherent in the loan. The primary impact of credit risk on the present value of the loan portfolio, however, was assessed through the use of the allowance for loan losses, which is believed to represent the current fair value of probable incurred losses for purposes of the fair value calculation. In accordance with ASC 820, the Company has categorized loans as a Level 3 fair value measurement.
Deposits with stated maturities. The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently in effect for deposits of similar remaining maturities. In accordance with ASC 820, the Company has categorized deposits with stated maturities as a Level 3 fair value measurement.
Federal Home Loan Bank advances. The fair value of Federal Home Loan Bank advances is obtained from the Federal Home Loan Bank which uses a discounted cash flow analysis based on current market rates of similar maturity debt securities to discount cash flows. In accordance with ASC 820, the Company has categorized Federal Home Loan Bank advances as a Level 3 fair value measurement.
Subordinated notes. The fair value of the subordinated notes is based on a market price obtained from an independent pricing vendor. In accordance with ASC 820, the Company has categorized subordinated notes as a Level 2 fair value measurement.
Junior subordinated debentures. The fair value of the junior subordinated debentures is based on the discounted value of contractual cash flows. In accordance with ASC 820, the Company has categorized junior subordinated debentures as a Level 3 fair value measurement.
Foreclosed Assets, Policy 
Other real estate owned is comprised of real estate acquired in partial or full satisfaction of loans and is included in other assets. Other real estate owned is recorded at its estimated fair value less estimated selling costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the allowance for loan losses. Subsequent changes in value are reported as adjustments to the carrying amount and are recorded in other non-interest expense. Gains and losses upon sale, if any, are also charged to other non-interest expense. Fair value is generally based on third party appraisals and internal estimates and is therefore considered a Level 3 valuation.
Stock-Based Compensation, Policy 

The 2007 Stock Incentive Plan (“the 2007 Plan”), which was approved by the Company's shareholders in January 2007, permits the grant of incentive stock options, nonqualified stock options, rights and restricted stock. The 2007 Plan initially provided for the issuance of up to 500,000 shares of common stock. In May 2009 and May 2011, the Company's shareholders approved an additional 325,000 shares and 2,860,000 shares, respectively, of common stock that may be offered under the 2007 Plan. All grants made after 2006 have been made pursuant to the 2007 Plan. The 2007 Plan replaced the Wintrust Financial Corporation 1997 Stock Incentive Plan (“the 1997 Plan”) which had substantially similar terms. The 2007 Plan and the 1997 Plan are collectively referred to as “the Plans.” The Plans cover substantially all employees of Wintrust. The Compensation Committee of the Board of Directors administers all stock-based compensation programs and authorizes all awards granted pursuant to the Plans.

The Company historically awarded stock-based compensation in the form time-vested of nonqualified stock options and time-vested restricted share awards (“restricted shares”). The grants of options provide for the purchase shares of Wintrust's common stock at the fair market value of the stock on the date the options are granted. Stock options under the 2007 Plan generally vest ratably over periods of three to five years and have a maximum term of seven years from the date of grant. Stock options granted under the 1997 Plan provided for a maximum term of 10 years. Restricted shares entitle the holders to receive, at no cost, shares of the Company’s common stock. Restricted shares generally vest over periods of one to five years from the date of grant.

Beginning in 2011, the Company has awarded annual grants under The Long-Term Incentive Program (“LTIP”), which is administered under the 2007 Plan. The LTIP is designed in part to align the interests of management with the interests of shareholders, foster retention, create a long-term focus based on sustainable results and provide participants a target long-term incentive opportunity. It is anticipated that LTIP awards will continue to be granted annually. LTIP grants to date have consisted of time-vested nonqualified stock options and performance-based stock and cash awards. Stock options granted under the LTIP have a term of seven years and will generally vest equally over three years based on continued service. Performance-based stock and cash awards granted under the LTIP are contingent upon the achievement of pre-established long-term performance goals set in advance by the Compensation Committee over a three-year period with overlapping performance periods starting at the beginning of each calendar year. These performance awards are granted at a target level, and based on the Company’s achievement of the pre-established long-term goals, the actual payouts can range from 0% to a maximum of 150% (for 2015 awards) or 200% (for prior awards) of the target award. The awards vest in the quarter after the end of the performance period upon certification of the payout by the Compensation Committee of the Board of Directors. Holders of performance-based stock awards are entitled to shares of common stock at no cost.

Holders of restricted share awards and performance-based stock awards received under the Plans are not entitled to vote or receive cash dividends (or cash payments equal to the cash dividends) on the underlying common shares until the awards are vested. Except in limited circumstances, these awards are canceled upon termination of employment without any payment of consideration by the Company.

Stock-based compensation is measured as the fair value of an award on the date of grant, and the measured cost is recognized over the period which the recipient is required to provide service in exchange for the award. The fair values of restricted share and performance-based stock awards are determined based on the average of the high and low trading prices on the grant date, and the fair value of stock options is estimated using a Black-Scholes option-pricing model that utilizes the assumptions outlined in the following table. Option-pricing models require the input of highly subjective assumptions and are sensitive to changes in the option's expected life and the price volatility of the underlying stock, which can materially affect the fair value estimate. Expected life has been based on historical exercise and termination behavior as well as the term of the option, but the expected life of the options granted since the inception of the LTIP awards has been based on the safe harbor rule of the SEC Staff Accounting Bulletin No. 107 “Share-Based Payment” as the Company believes historical exercise data may not provide a reasonable basis to estimate the expected term of these options. Expected stock price volatility is based on historical volatility of the Company's common stock, which correlates with the expected life of the options, and the risk-free interest rate is based on comparable U.S. Treasury rates. Management reviews and adjusts the assumptions used to calculate the fair value of an option on a periodic basis to better reflect expected trends.
Share-based Compensation, Option and Incentive Plans, Policy 
Stock based compensation is recognized based upon the number of awards that are ultimately expected to vest, taking into account expected forfeitures. In addition, for performance-based awards, an estimate is made of the number of shares expected to vest as a result of projected performance against the performance criteria in the award to determine the amount of compensation expense to recognize. The estimate is reevaluated periodically and total compensation expense is adjusted for any change in estimate in the current period. Stock-based compensation expense recognized in the Consolidated Statements of Income was $2.3 million in the first quarter of 2015 and $3.8 million in the first quarter of 2014. The first quarter of 2014 includes a $2.1 million charge for a modification to the performance measurement criteria related to the 2011 LTIP performance-based stock grants that were vested and paid out in the first quarter of 2014. The cost of the modification was determined based on the stock price on the date of re-measurement and paid to the holders of the performance-based stock awards in cash.
Junior Subordinated Debentures, Policy 
The Trusts are reported in the Company’s consolidated financial statements as unconsolidated subsidiaries. Accordingly, in the Consolidated Statements of Condition, the junior subordinated debentures issued by the Company to the Trusts are reported as liabilities and the common securities of the Trusts, all of which are owned by the Company, are included in available-for-sale securities.
Earnings Per Share, Policy 
Potentially dilutive common shares can result from stock options, restricted stock unit awards, stock warrants, the Company’s convertible preferred stock and shares to be issued under the Employee Stock Purchase Plan and the Directors Deferred Fee and Stock Plan, being treated as if they had been either exercised or issued, computed by application of the treasury stock method. While potentially dilutive common shares are typically included in the computation of diluted earnings per share, potentially dilutive common shares are excluded from this computation in periods in which the effect would reduce the loss per share or increase the income per share. For diluted earnings per share, net income applicable to common shares can be affected by the conversion of the Company’s convertible preferred stock. Where the effect of this conversion would reduce the loss per share or increase the income per share, net income applicable to common shares is not adjusted by the associated preferred dividends.
Business Combinations (Tables)
Summary of FDIC Indemnification Asset
The following table summarizes the activity in the Company’s FDIC indemnification asset during the periods indicated:
 
Three Months Ended
(Dollars in thousands)
March 31,
2015
 
March 31,
2014
Balance at beginning of period
$
11,846

 
$
85,672

Additions from acquisitions
—

 
—

Additions from reimbursable expenses
1,575

 
1,282

Amortization
(1,260
)
 
(1,603
)
Changes in expected reimbursements from the FDIC for changes in expected credit losses
(3,993
)
 
(15,384
)
Payments provided to (received from) the FDIC
2,056

 
(9,669
)
Balance at end of period
$
10,224

 
$
60,298

Available-For-Sale Securities (Tables)
Schedule of the Available-for-Sale Securities Reconciliation 
The following tables are a summary of the available-for-sale securities portfolio as of the dates shown:
 
 
March 31, 2015
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury
$
273,173

 
$
148

 
$
(1,847
)
 
$
271,474

U.S. Government agencies
665,177

 
5,348

 
(8,732
)
 
661,793

Municipal
264,949

 
6,485

 
(1,522
)
 
269,912

Corporate notes:
 
 
 
 
 
 
 
Financial issuers
129,360

 
1,965

 
(1,321
)
 
130,004

Other
3,759

 
52

 
(1
)
 
3,810

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
280,679

 
5,983

 
(2,529
)
 
284,133

Collateralized mortgage obligations
45,299

 
435

 
(276
)
 
45,458

Equity securities
48,717

 
5,979

 
(250
)
 
54,446

Total available-for-sale securities
$
1,711,113

 
$
26,395

 
$
(16,478
)
 
$
1,721,030

 
 
December 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
(Dollars in thousands)
 
 
 
U.S. Treasury
$
388,713

 
$
84

 
$
(6,992
)
 
$
381,805

U.S. Government agencies
686,106

 
4,113

 
(21,903
)
 
668,316

Municipal
234,951

 
5,318

 
(1,740
)
 
238,529

Corporate notes:
 
 
 
 
 
 
 
Financial issuers
129,309

 
2,006

 
(1,557
)
 
129,758

Other
3,766

 
55

 
—

 
3,821

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
271,129

 
5,448

 
(4,928
)
 
271,649

Collateralized mortgage obligations
47,347

 
249

 
(535
)
 
47,061

Equity securities
46,592

 
4,872

 
(325
)
 
51,139

Total available-for-sale securities
$
1,807,913

 
$
22,145

 
$
(37,980
)
 
$
1,792,078

 
 
March 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
(Dollars in thousands)
 
 
 
U.S. Treasury
$
354,109

 
$
263

 
$
(14,194
)
 
$
340,178

U.S. Government agencies
874,845

 
3,286

 
(49,856
)
 
828,275

Municipal
175,028

 
3,439

 
(3,167
)
 
175,300

Corporate notes:
 
 
 
 
 
 
 
Financial issuers
129,413

 
2,306

 
(1,735
)
 
129,984

Other
4,986

 
100

 
(3
)
 
5,083

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
371,825

 
3,919

 
(13,188
)
 
362,556

Collateralized mortgage obligations
55,190

 
356

 
(799
)
 
54,747

Equity securities
50,570

 
3,543

 
(539
)
 
53,574

Total available-for-sale securities
$
2,015,966

 
$
17,212

 
$
(83,481
)
 
$
1,949,697


(1)
Consisting entirely of residential mortgage-backed securities, none of which are subprime.
Available-for-Sale Securities, Continuous Unrealized Loss Position, Fair Value 
The following table presents the portion of the Company’s available-for-sale securities portfolio which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at March 31, 2015:
 
 
Continuous unrealized
losses existing for
less than 12 months
 
Continuous unrealized
losses existing for
greater than 12 months
 
Total
(Dollars in thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Treasury
$
198,297

 
$
(1,847
)
 
$
—

 
$
—

 
$
198,297

 
$
(1,847
)
U.S. Government agencies
163,928

 
(2,158
)
 
259,346

 
(6,574
)
 
423,274

 
(8,732
)
Municipal
41,611

 
(500
)
 
37,899

 
(1,022
)
 
79,510

 
(1,522
)
Corporate notes:
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
9,968

 
(31
)
 
44,667

 
(1,290
)
 
54,635

 
(1,321
)
Other
999

 
(1
)
 
—

 
—

 
999

 
(1
)
Mortgage-backed:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
16,725

 
(92
)
 
127,433

 
(2,437
)
 
144,158

 
(2,529
)
Collateralized mortgage obligations
1,015

 
(1
)
 
10,502

 
(275
)
 
11,517

 
(276
)
Equity securities
—

 
—

 
8,611

 
(250
)
 
8,611

 
(250
)
Total
$
432,543

 
$
(4,630
)
 
$
488,458

 
$
(11,848
)
 
$
921,001

 
$
(16,478
)
Schedule of Realized Gain (Loss) 
The following table provides information as to the amount of gross gains and gross losses realized and proceeds received through the sales of available-for-sale investment securities:
 
 
Three months ended March 31,
(Dollars in thousands)
2015
 
2014
Realized gains
$
553

 
$
55

Realized losses
(29
)
 
(88
)
Net realized gains (losses)
$
524

 
$
(33
)
Other than temporary impairment charges
—

 
—

Gains (losses) on available-for-sale securities, net
$
524

 
$
(33
)
Proceeds from sales of available-for-sale securities
$
635,532

 
$
14,800

Investments Classified by Contractual Maturity Date 
The amortized cost and fair value of securities as of March 31, 2015, December 31, 2014 and March 31, 2014, by contractual maturity, are shown in the following table. Contractual maturities may differ from actual maturities as borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Mortgage-backed securities are not included in the maturity categories in the following maturity summary as actual maturities may differ from contractual maturities because the underlying mortgages may be called or prepaid without penalties:
 
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
(Dollars in thousands)
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
Due in one year or less
$
151,585

 
$
151,854

 
$
285,596

 
$
285,889

 
$
203,749

 
$
203,942

Due in one to five years
249,861

 
250,483

 
172,647

 
172,885

 
338,130

 
338,980

Due in five to ten years
837,926

 
836,598

 
331,389

 
325,644

 
344,296

 
330,546

Due after ten years
97,046

 
98,058

 
653,213

 
637,811

 
652,206

 
605,352

Mortgage-backed
325,978

 
329,591

 
318,476

 
318,710

 
427,015

 
417,303

Equity securities
48,717

 
54,446

 
46,592

 
51,139

 
50,570

 
53,574

Total available-for-sale securities
$
1,711,113

 
$
1,721,030

 
$
1,807,913

 
$
1,792,078

 
$
2,015,966

 
$
1,949,697

Loans (Tables)
Summary of Loan Portfolio 
The following table shows the Company’s loan portfolio by category as of the dates shown:
 
March 31,
 
December 31,
 
March 31,
(Dollars in thousands)
2015
 
2014
 
2014
Balance:
 
 
 
 
 
Commercial
$
4,211,932

 
$
3,924,394

 
$
3,439,197

Commercial real-estate
4,710,486

 
4,505,753

 
4,262,255

Home equity
709,283

 
716,293

 
707,748

Residential real-estate
495,925

 
483,542

 
426,769

Premium finance receivables—commercial
2,319,623

 
2,350,833

 
2,208,361

Premium finance receivables—life insurance
2,375,654

 
2,277,571

 
1,929,334

Consumer and other
130,156

 
151,012

 
159,496

Total loans, net of unearned income, excluding covered loans
$
14,953,059

 
$
14,409,398

 
$
13,133,160

Covered loans
209,694

 
226,709

 
312,478

Total loans
$
15,162,753

 
$
14,636,107

 
$
13,445,638

Mix:
 
 
 
 
 
Commercial
28
%
 
26
%
 
26
%
Commercial real-estate
31

 
31

 
32

Home equity
5

 
5

 
5

Residential real-estate
3

 
3

 
3

Premium finance receivables—commercial
15

 
16

 
17

Premium finance receivables—life insurance
16

 
16

 
14

Consumer and other
1

 
1

 
1

Total loans, net of unearned income, excluding covered loans
99
%
 
98
%
 
98
%
Covered loans
1

 
2

 
2

Total loans
100
%
 
100
%
 
100
%
Schedule of Unpaid Principal Balance and Carrying Value of Acquired Loans 
The following table presents the unpaid principal balance and carrying value for these acquired loans:
 
March 31, 2015
 
December 31, 2014
 
Unpaid
Principal
 
Carrying
 
Unpaid
Principal
 
Carrying
(Dollars in thousands)
Balance
 
Value
 
Balance
 
Value
Bank acquisitions
$
277,163

 
$
222,837

 
$
285,809

 
$
227,229

Life insurance premium finance loans acquisition
394,632

 
389,048

 
399,665

 
393,479

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period 
The following table provides estimated details as of the date of acquisition on loans acquired in 2015 with evidence of credit quality deterioration since origination:
(Dollars in thousands)
Delavan
Contractually required payments including interest
$
15,791

Less: Nonaccretable difference
1,442

   Cash flows expected to be collected (1)  
14,349

Less: Accretable yield
898

    Fair value of PCI loans acquired
13,451


(1) Represents undiscounted expected principal and interest cash at acquisition.
Activity Related to Accretable Yield of Loans Acquired With Evidence of Credit Quality Deterioratio Since Origination 
The following table provides activity for the accretable yield of PCI loans:

Three Months Ended
March 31, 2015
 
Three Months Ended
March 31, 2014
(Dollars in thousands)
Bank Acquisitions

Life Insurance
Premium Finance Loans

Bank
Acquisitions

Life Insurance
Premium
Finance Loans
Accretable yield, beginning balance
$
77,485


$
1,617


$
107,655


$
8,254

Acquisitions
898


—


—


—

Accretable yield amortized to interest income
(5,504
)

(601
)

(7,770
)

(1,771
)
Accretable yield amortized to indemnification asset (1)
(3,576
)

—


(5,648
)

—

Reclassification from non-accretable difference (2)
1,103


—


8,580


—

Increases (decreases) in interest cash flows due to payments and changes in interest rates
(1,224
)

—


(5,143
)

78

Accretable yield, ending balance (3)
$
69,182


$
1,016


$
97,674


$
6,561



(1)
Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnification asset.
(2)
Reclassification is the result of subsequent increases in expected principal cash flows.
(3)
As of March 31, 2015, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $15.8 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income.

Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Tables)
Schedule of Aging of the Company's Loan Portfolio 
The tables below show the aging of the Company’s loan portfolio at March 31, 2015, December 31, 2014 and March 31, 2014:
As of March 31, 2015
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(Dollars in thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
5,586

 
$
—

 
$
4,756

 
$
16,949

 
$
2,457,174

 
$
2,484,465

Franchise
—

 
—

 
—

 
457

 
225,305

 
225,762

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
186,372

 
186,372

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
108,382

 
108,382

Aircraft
—

 
—

 
291

 
389

 
6,295

 
6,975

Asset-based lending
—

 
—

 
—

 
4,819

 
805,866

 
810,685

Tax exempt
—

 
—

 
—

 
—

 
205,195

 
205,195

Leases
—

 
—

 
65

 
517

 
171,432

 
172,014

Other
—

 
—

 
—

 
—

 
2,735

 
2,735

PCI - commercial (1)
—

 
612

 
—

 
—

 
8,735

 
9,347

Total commercial
5,586

 
612

 
5,112

 
23,131

 
4,177,491

 
4,211,932

Commercial real-estate:
 
 
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
46,796

 
46,796

Commercial construction
—

 
—

 
—

 
992

 
209,039

 
210,031

Land
2,646

 
—

 
—

 
1,942

 
84,454

 
89,042

Office
8,243

 
—

 
171

 
3,144

 
731,568

 
743,126

Industrial
3,496

 
—

 
61

 
1,719

 
599,050

 
604,326

Retail
4,975

 
—

 
—

 
2,562

 
734,990

 
742,527

Multi-family
1,750

 
—

 
393

 
3,671

 
649,589

 
655,403

Mixed use and other
8,872

 
—

 
808

 
10,847

 
1,532,036

 
1,552,563

PCI - commercial real-estate (1)
—

 
18,120

 
4,639

 
3,242

 
40,671

 
66,672

Total commercial real-estate
29,982

 
18,120

 
6,072

 
28,119

 
4,628,193

 
4,710,486

Home equity
7,665

 
—

 
693

 
2,825

 
698,100

 
709,283

Residential real estate
14,248

 
—

 
753

 
8,735

 
469,826

 
493,562

PCI - residential real estate (1)
—

 
266

 
—

 
84

 
2,013

 
2,363

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
15,902

 
8,062

 
4,476

 
19,392

 
2,271,791

 
2,319,623

Life insurance loans
—

 
—

 
8,994

 
5,415

 
1,972,197

 
1,986,606

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
389,048

 
389,048

Consumer and other
236

 
91

 
111

 
634

 
129,084

 
130,156

Total loans, net of unearned income, excluding covered loans
$
73,619

 
$
27,151

 
$
26,211

 
$
88,335

 
$
14,737,743

 
$
14,953,059

Covered loans
7,079

 
16,434

 
558

 
6,128

 
179,495

 
209,694

Total loans, net of unearned income
$
80,698

 
$
43,585

 
$
26,769

 
$
94,463

 
$
14,917,238

 
$
15,162,753


(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.
As of December 31, 2014
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(Dollars in thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
9,132

 
$
474

 
$
3,161

 
$
7,492

 
$
2,213,105

 
$
2,233,364

Franchise
—

 
—

 
308

 
1,219

 
231,789

 
233,316

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
139,003

 
139,003

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
106,364

 
106,364

Aircraft
—

 
—

 
—

 
—

 
8,065

 
8,065

Asset-based lending
25

 
—

 
1,375

 
2,394

 
802,608

 
806,402

Tax exempt
—

 
—

 
—

 
—

 
217,487

 
217,487

Leases
—

 
—

 
77

 
315

 
159,744

 
160,136

Other
—

 
—

 
—

 
—

 
11,034

 
11,034

PCI - commercial (1)
—

 
365

 
202

 
138

 
8,518

 
9,223

Total commercial
9,157

 
839

 
5,123

 
11,558

 
3,897,717

 
3,924,394

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
250

 
76

 
38,370

 
38,696

Commercial construction
230

 
—

 
—

 
2,023

 
185,513

 
187,766

Land
2,656

 
—

 
—

 
2,395

 
86,779

 
91,830

Office
7,288

 
—

 
2,621

 
1,374

 
694,149

 
705,432

Industrial
2,392

 
—

 
—

 
3,758

 
617,820

 
623,970

Retail
4,152

 
—

 
116

 
3,301

 
723,919

 
731,488

Multi-family
249

 
—

 
249

 
1,921

 
603,323

 
605,742

Mixed use and other
9,638

 
—

 
2,603

 
9,023

 
1,443,853

 
1,465,117

PCI - commercial real-estate (1)
—

 
10,976

 
6,393

 
4,016

 
34,327

 
55,712

Total commercial real-estate
26,605

 
10,976

 
12,232

 
27,887

 
4,428,053

 
4,505,753

Home equity
6,174

 
—

 
983

 
3,513

 
705,623

 
716,293

Residential real-estate
15,502

 
—

 
267

 
6,315

 
459,224

 
481,308

PCI - residential real-estate (1)
—

 
549

 
—

 
—

 
1,685

 
2,234

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
12,705

 
7,665

 
5,995

 
17,328

 
2,307,140

 
2,350,833

Life insurance loans
—

 
—

 
13,084

 
339

 
1,870,669

 
1,884,092

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
393,479

 
393,479

Consumer and other
277

 
119

 
293

 
838

 
149,485

 
151,012

Total loans, net of unearned income, excluding covered loans
$
70,420

 
$
20,148

 
$
37,977

 
$
67,778

 
$
14,213,075

 
$
14,409,398

Covered loans
7,290

 
17,839

 
1,304

 
4,835

 
195,441

 
226,709

Total loans, net of unearned income
$
77,710

 
$
37,987

 
$
39,281

 
$
72,613

 
$
14,408,516

 
$
14,636,107

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.
As of March 31, 2014
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(Dollars in thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
11,112

 
$
387

 
$
2,235

 
$
16,150

 
$
1,965,425

 
$
1,995,309

Franchise
—

 
—

 
—

 
75

 
221,026

 
221,101

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
60,809

 
60,809

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
91,414

 
91,414

Aircraft
—

 
—

 
—

 
—

 
8,840

 
8,840

Asset-based lending
670

 
—

 
—

 
10,573

 
729,425

 
740,668

Tax exempt
—

 
—

 
—

 
—

 
177,973

 
177,973

Leases
—

 
—

 
—

 
—

 
121,986

 
121,986

Other
—

 
—

 
—

 
—

 
10,261

 
10,261

PCI - commercial (1)
—

 
1,079

 
—

 
865

 
8,892

 
10,836

Total commercial
11,782

 
1,466

 
2,235

 
27,663

 
3,396,051

 
3,439,197

Commercial real-estate:
 
 
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
680

 
27

 
35,690

 
36,397

Commercial construction
844

 
—

 
—

 
—

 
150,786

 
151,630

Land
2,405

 
—

 
2,682

 
3,438

 
99,445

 
107,970

Office
6,970

 
—

 
1,672

 
8,868

 
633,655

 
651,165

Industrial
6,101

 
—

 
1,114

 
2,706

 
615,139

 
625,060

Retail
9,540

 
—

 
217

 
3,089

 
664,584

 
677,430

Multi-family
1,327

 
—

 
—

 
3,820

 
570,616

 
575,763

Mixed use and other
6,546

 
—

 
6,626

 
10,744

 
1,337,320

 
1,361,236

PCI - commercial real-estate (1)
—

 
21,073

 
2,791

 
6,169

 
45,571

 
75,604

Total commercial real-estate
33,733

 
21,073

 
15,782

 
38,861

 
4,152,806

 
4,262,255

Home equity
7,311

 
—

 
1,650

 
4,972

 
693,815

 
707,748

Residential real estate
14,385

 
—

 
946

 
4,889

 
403,474

 
423,694

PCI - residential real estate (1)
—

 
1,414

 
—

 
248

 
1,413

 
3,075

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
14,517

 
6,808

 
5,600

 
20,777

 
2,160,659

 
2,208,361

Life insurance loans
—

 
—

 
—

 
4,312

 
1,511,820

 
1,516,132

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
413,202

 
413,202

Consumer and other
1,144

 
105

 
213

 
570

 
157,464

 
159,496

Total loans, net of unearned income, excluding covered loans
$
82,872

 
$
30,866

 
$
26,426

 
$
102,292

 
$
12,890,704

 
$
13,133,160

Covered loans
9,136

 
35,831

 
6,682

 
7,042

 
253,787

 
312,478

Total loans, net of unearned income
$
92,008

 
$
66,697

 
$
33,108

 
$
109,334

 
$
13,144,491

 
$
13,445,638

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.
Summary of Performance by Loan Class 
The following table presents the recorded investment based on performance of loans by class, excluding covered loans, per the most recent analysis at March 31, 2015, December 31, 2014 and March 31, 2014:
 
 
Performing
 
Non-performing
 
Total
(Dollars in thousands)
March 31,
2015
 
December 31, 2014
 
March 31,
2014
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
 
March 31,
2015
 
December 31, 2014
 
March 31,
2014
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
2,478,879

 
$
2,223,758

 
$
1,983,810

 
$
5,586

 
$
9,606

 
$
11,499

 
$
2,484,465

 
$
2,233,364

 
$
1,995,309

Franchise
225,762

 
233,316

 
221,101

 
—

 
—

 
—

 
225,762

 
233,316

 
221,101

Mortgage warehouse lines of credit
186,372

 
139,003

 
60,809

 
—

 
—

 
—

 
186,372

 
139,003

 
60,809

Community Advantage—homeowners association
108,382

 
106,364

 
91,414

 
—

 
—

 
—

 
108,382

 
106,364

 
91,414

Aircraft
6,975

 
8,065

 
8,840

 
—

 
—

 
—

 
6,975

 
8,065

 
8,840

Asset-based lending
810,685

 
806,377

 
739,998

 
—

 
25

 
670

 
810,685

 
806,402

 
740,668

Tax exempt
205,195

 
217,487

 
177,973

 
—

 
—

 
—

 
205,195

 
217,487

 
177,973

Leases
172,014

 
160,136

 
121,986

 
—

 
—

 
—

 
172,014

 
160,136

 
121,986

Other
2,735

 
11,034

 
10,261

 
—

 
—

 
—

 
2,735

 
11,034

 
10,261

PCI - commercial (1)
9,347

 
9,223

 
10,836

 
—

 
—

 
—

 
9,347

 
9,223

 
10,836

Total commercial
4,206,346

 
3,914,763

 
3,427,028

 
5,586

 
9,631

 
12,169

 
4,211,932

 
3,924,394

 
3,439,197

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential construction
46,796

 
38,696

 
36,397

 
—

 
—

 
—

 
46,796

 
38,696

 
36,397

Commercial construction
210,031

 
187,536

 
150,786

 
—

 
230

 
844

 
210,031

 
187,766

 
151,630

Land
86,396

 
89,174

 
105,565

 
2,646

 
2,656

 
2,405

 
89,042

 
91,830

 
107,970

Office
734,883

 
698,144

 
644,195

 
8,243

 
7,288

 
6,970

 
743,126

 
705,432

 
651,165

Industrial
600,830

 
621,578

 
618,959

 
3,496

 
2,392

 
6,101

 
604,326

 
623,970

 
625,060

Retail
737,552

 
727,336

 
667,890

 
4,975

 
4,152

 
9,540

 
742,527

 
731,488

 
677,430

Multi-family
653,653

 
605,493

 
574,436

 
1,750

 
249

 
1,327

 
655,403

 
605,742

 
575,763

Mixed use and other
1,543,691

 
1,455,479

 
1,354,690

 
8,872

 
9,638

 
6,546

 
1,552,563

 
1,465,117

 
1,361,236

PCI - commercial real-estate(1)
66,672

 
55,712

 
75,604

 
—

 
—

 
—

 
66,672

 
55,712

 
75,604

Total commercial real-estate
4,680,504

 
4,479,148

 
4,228,522

 
29,982

 
26,605

 
33,733

 
4,710,486

 
4,505,753

 
4,262,255

Home equity
701,618

 
710,119

 
700,437

 
7,665

 
6,174

 
7,311

 
709,283

 
716,293

 
707,748

Residential real-estate
479,314

 
465,806

 
409,309

 
14,248

 
15,502

 
14,385

 
493,562

 
481,308

 
423,694

PCI - residential real-estate (1)
2,363

 
2,234

 
3,075

 
—

 
—

 
—

 
2,363

 
2,234

 
3,075

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
2,295,659

 
2,330,463

 
2,187,036

 
23,964

 
20,370

 
21,325

 
2,319,623

 
2,350,833

 
2,208,361

Life insurance loans
1,986,606

 
1,884,092

 
1,516,132

 
—

 
—

 
—

 
1,986,606

 
1,884,092

 
1,516,132

PCI - life insurance loans (1)
389,048

 
393,479

 
413,202

 
—

 
—

 
—

 
389,048

 
393,479

 
413,202

Consumer and other
129,829

 
150,617

 
158,295

 
327

 
395

 
1,201

 
130,156

 
151,012

 
159,496

Total loans, net of unearned income, excluding covered loans
$
14,871,287

 
$
14,330,721

 
$
13,043,036

 
$
81,772

 
$
78,677

 
$
90,124

 
$
14,953,059

 
$
14,409,398

 
$
13,133,160

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. See Note 6 - Loans for further discussion of these purchased loans.
Summary of Activity in the Allowance for Credit Losses 
A summary of activity in the allowance for credit losses by loan portfolio (excluding covered loans) for the three months ended March 31, 2015 and 2014 is as follows:
Three months ended March 31, 2015
 
 
Commercial Real-estate
 
Home  Equity
 
Residential Real-estate
 
Premium Finance Receivable
 
Consumer and Other
 
Total, Excluding Covered Loans
(Dollars in thousands)
Commercial
 
 
 
 
 
 
Allowance for credit losses
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at beginning of period
$
31,699

 
$
35,533

 
$
12,500

 
$
4,218

 
$
6,513

 
$
1,242

 
$
91,705

Other adjustments
(17
)
 
(180
)
 
—

 
(3
)
 
(48
)
 
—

 
(248
)
Reclassification from allowance for unfunded lending-related commitments
—

 
(113
)
 
—

 
—

 
—

 
—

 
(113
)
Charge-offs
(677
)
 
(1,005
)
 
(584
)
 
(631
)
 
(1,263
)
 
(111
)
 
(4,271
)
Recoveries
370

 
312

 
48

 
76

 
329

 
53

 
1,188

Provision for credit losses
2,351

 
2,455

 
700

 
436

 
461

 
(218
)
 
6,185

Allowance for loan losses at period end
$
33,726

 
$
37,002

 
$
12,664

 
$
4,096

 
$
5,992

 
$
966

 
$
94,446

Allowance for unfunded lending-related commitments at period end
$
—

 
$
888

 
$
—

 
$
—

 
$
—

 
$
—

 
$
888

Allowance for credit losses at period end
$
33,726

 
$
37,890

 
$
12,664

 
$
4,096

 
$
5,992

 
$
966

 
$
95,334

Individually evaluated for impairment
$
1,814

 
$
3,256

 
$
948

 
$
208

 
$
—

 
$
26

 
$
6,252

Collectively evaluated for impairment
31,912

 
34,521

 
11,716

 
3,794

 
5,992

 
940

 
88,875

Loans acquired with deteriorated credit quality
—

 
113

 
—

 
94

 
—

 
—

 
207

Loans at period end
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
12,361

 
$
75,886

 
$
7,879

 
$
17,144

 
$
—

 
$
381

 
$
113,651

Collectively evaluated for impairment
4,190,224

 
4,567,928

 
701,404

 
476,418

 
4,306,229

 
129,775

 
14,371,978

Loans acquired with deteriorated credit quality
9,347

 
66,672

 
—

 
2,363

 
389,048

 
—

 
467,430


Three months ended March 31, 2014
Commercial
 
Commercial Real-estate
 
Home  Equity
 
Residential Real-estate
 
Premium Finance Receivable
 
Consumer and Other
 
Total, Excluding Covered Loans
(Dollars in thousands)
 
 
 
 
 
 
Allowance for credit losses
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at beginning of period
$
23,092

 
$
48,658

 
$
12,611

 
$
5,108

 
$
5,583

 
$
1,870

 
$
96,922

Other adjustments
(15
)
 
(121
)
 
(1
)
 
(2
)
 
(9
)
 
—

 
(148
)
Reclassification from allowance for unfunded lending-related commitments
—

 
(18
)
 
—

 
—

 
—

 
—

 
(18
)
Charge-offs
(648
)
 
(4,493
)
 
(2,267
)
 
(226
)
 
(1,210
)
 
(173
)
 
(9,017
)
Recoveries
317

 
145

 
257

 
131

 
321

 
61

 
1,232

Provision for credit losses
1,943

 
434

 
366

 
(320
)
 
897

 
(16
)
 
3,304

Allowance for loan losses at period end
$
24,689

 
$
44,605

 
$
10,966

 
$
4,691

 
$
5,582

 
$
1,742

 
$
92,275

Allowance for unfunded lending-related commitments at period end
$
—

 
$
737

 
$
—

 
$
—

 
$
—

 
$
—

 
$
737

Allowance for credit losses at period end
$
24,689

 
$
45,342

 
$
10,966

 
$
4,691

 
$
5,582

 
$
1,742

 
$
93,012

Individually evaluated for impairment
$
3,107

 
$
4,041

 
$
596

 
$
455

 
$
—

 
$
95

 
$
8,294

Collectively evaluated for impairment
21,512

 
41,301

 
10,370

 
4,147

 
5,582

 
1,647

 
84,559

Loans acquired with deteriorated credit quality
70

 
—

 
—

 
89

 
—

 
—

 
159

Loans at period end
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
18,350

 
$
99,480

 
$
7,537

 
$
18,026

 
$
—

 
$
1,592

 
$
144,985

Collectively evaluated for impairment
3,410,011

 
4,087,171

 
700,211

 
405,668

 
3,724,493

 
157,662

 
12,485,216

Loans acquired with deteriorated credit quality
10,836

 
75,604

 
—

 
3,075

 
413,202

 
242

 
502,959





Summary of Activity in the Allowance for Covered Loan Losses 
A summary of activity in the allowance for covered loan losses for the three months ended March 31, 2015 and 2014 is as follows:
 
Three Months Ended
 
March 31,
 
March 31,
(Dollars in thousands)
2015
 
2014
Balance at beginning of period
$
2,131

 
$
10,092

Provision for covered loan losses before benefit attributable to FDIC loss share agreements
(529
)
 
(7,121
)
Benefit attributable to FDIC loss share agreements
423

 
5,697

Net provision for covered loan losses
(106
)
 
(1,424
)
Decrease in FDIC indemnification asset
(423
)
 
(5,697
)
Loans charged-off
(237
)
 
(2,864
)
Recoveries of loans charged-off
513

 
3,340

Net recoveries
276

 
476

Balance at end of period
$
1,878

 
$
3,447

Summary of Impaired Loans, Including Restructured Loans 
A summary of impaired loans, including troubled debt restructurings ("TDRs"), is as follows:
 
March 31,
 
December 31,
 
March 31,
(Dollars in thousands)
2015
 
2014
 
2014
Impaired loans (included in non-performing and TDRs):
 
 
 
 
 
Impaired loans with an allowance for loan loss required (1)
$
48,610

 
$
69,487

 
$
86,381

Impaired loans with no allowance for loan loss required
63,794

 
57,925

 
56,596

Total impaired loans (2)
$
112,404

 
$
127,412

 
$
142,977

Allowance for loan losses related to impaired loans
$
6,199

 
$
6,270

 
$
8,197

TDRs
$
67,218

 
$
82,275

 
$
92,517

 
(1)
These impaired loans require an allowance for loan losses because the estimated fair value of the loans or related collateral is less than the recorded investment in the loans.
(2)
Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest.
Summary of Impaired Loans by Loan Class 
The following tables present impaired loans evaluated for impairment by loan class for the periods ended as follows:
 
 
 
 
 
 
 
For the Three Months Ended
 
As of March 31, 2015
 
March 31, 2015
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(Dollars in thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
7,230

 
$
7,830

 
$
1,795

 
$
7,465

 
$
92

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
—

 
—

 
—

 
—

 
—

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
—

 
—

 
—

 
—

 
—

Land
4,475

 
8,090

 
29

 
4,734

 
127

Office
8,354

 
11,053

 
598

 
8,399

 
131

Industrial
1,402

 
1,487

 
559

 
1,406

 
20

Retail
10,259

 
12,286

 
371

 
10,294

 
128

Multi-family
2,266

 
2,363

 
241

 
2,273

 
26

Mixed use and other
7,891

 
10,041

 
1,449

 
7,907

 
116

Home equity
2,807

 
2,962

 
948

 
2,809

 
29

Residential real-estate
3,728

 
3,934

 
183

 
3,724

 
45

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

PCI - life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
198

 
200

 
26

 
203

 
4

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
4,630

 
$
7,595

 
$
—

 
$
4,647

 
$
125

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
—

 
—

 
—

 
—

 
—

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
2,645

 
2,645

 
—

 
2,645

 
30

Land
5,134

 
5,868

 
—

 
5,137

 
62

Office
6,890

 
6,965

 
—

 
6,971

 
77

Industrial
2,772

 
3,134

 
—

 
2,837

 
55

Retail
5,053

 
9,130

 
—

 
5,315

 
105

Multi-family
777

 
1,199

 
—

 
778

 
13

Mixed use and other
17,479

 
17,723

 
—

 
17,688

 
185

Home equity
5,072

 
6,771

 
—

 
5,126

 
70

Residential real-estate
13,159

 
14,644

 
—

 
13,190

 
145

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

PCI - life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
183

 
249

 
—

 
145

 
3

Total loans, net of unearned income, excluding covered loans
$
112,404

 
$
136,169

 
$
6,199

 
$
113,693

 
$
1,588

 
 
 
 
 
 
 
For the Twelve Months Ended
 
As of December 31, 2014
 
December 31, 2014
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(Dollars in thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
9,989

 
$
10,785

 
$
1,915

 
$
10,784

 
$
539

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
—

 
—

 
—

 
—

 
—

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
—

 
—

 
—

 
—

 
—

Land
5,011

 
8,626

 
43

 
5,933

 
544

Office
11,038

 
12,863

 
305

 
11,567

 
576

Industrial
195

 
277

 
15

 
214

 
13

Retail
11,045

 
14,566

 
487

 
12,116

 
606

Multi-family
2,808

 
3,321

 
158

 
2,839

 
145

Mixed use and other
21,777

 
24,076

 
2,240

 
21,483

 
1,017

Home equity
1,946

 
2,055

 
475

 
1,995

 
80

Residential real-estate
5,467

 
5,600

 
606

 
5,399

 
241

Premium finance receivables
 
 
—

 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

Purchased life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
211

 
213

 
26

 
214

 
10

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
5,797

 
$
8,862

 
$
—

 
$
6,664

 
$
595

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
25

 
1,952

 
—

 
87

 
100

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
2,875

 
3,085

 
—

 
3,183

 
151

Land
10,210

 
10,941

 
—

 
10,268

 
430

Office
4,132

 
5,020

 
—

 
4,445

 
216

Industrial
4,160

 
4,498

 
—

 
3,807

 
286

Retail
5,487

 
7,470

 
—

 
6,915

 
330

Multi-family
—

 
—

 
—

 
—

 
—

Mixed use and other
7,985

 
8,804

 
—

 
9,533

 
449

Home equity
4,453

 
6,172

 
—

 
4,666

 
256

Residential real-estate
12,640

 
14,334

 
—

 
12,682

 
595

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

Purchased life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
161

 
222

 
—

 
173

 
11

Total loans, net of unearned income, excluding covered loans
$
127,412

 
$
153,742

 
$
6,270

 
$
134,967

 
$
7,190

 
 
 
 
 
 
 
For the Three Months Ended
 
As of March 31, 2014
 
March 31, 2014
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(Dollars in thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
9,167

 
$
10,029

 
$
2,459

 
$
9,340

 
$
120

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
670

 
2,465

 
620

 
677

 
31

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
—

 
—

 
—

 
—

 
—

Commercial construction
3,099

 
3,099

 
24

 
3,099

 
28

Land
9,260

 
9,625

 
174

 
9,688

 
79

Office
8,712

 
9,398

 
1,069

 
8,767

 
90

Industrial
6,597

 
6,765

 
513

 
5,985

 
81

Retail
12,763

 
12,903

 
826

 
12,819

 
132

Multi-family
2,053

 
2,143

 
122

 
2,057

 
23

Mixed use and other
25,420

 
25,591

 
1,272

 
25,853

 
291

Home equity
2,109

 
2,534

 
596

 
2,117

 
24

Residential real-estate
6,222

 
6,362

 
427

 
6,094

 
68

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

Purchased life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
309

 
367

 
95

 
290

 
5

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
7,789

 
$
14,415

 
$
—

 
$
8,179

 
$
208

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Community Advantage—homeowners association
—

 
—

 
—

 
—

 
—

Aircraft
—

 
—

 
—

 
—

 
—

Asset-based lending
—

 
—

 
—

 
—

 
—

Tax exempt
—

 
—

 
—

 
—

 
—

Leases
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
Residential construction
891

 
891

 
—

 
1,245

 
12

Commercial construction
1,466

 
1,471

 
—

 
1,418

 
17

Land
4,982

 
8,764

 
—

 
4,985

 
109

Office
6,260

 
6,301

 
—

 
6,266

 
83

Industrial
2,298

 
2,470

 
—

 
2,314

 
47

Retail
10,419

 
12,273

 
—

 
11,006

 
140

Multi-family
1,078

 
2,013

 
—

 
1,201

 
23

Mixed use and other
3,161

 
5,044

 
—

 
3,096

 
67

Home equity
5,428

 
7,044

 
—

 
5,777

 
73

Residential real-estate
11,541

 
14,427

 
—

 
11,699

 
137

Premium finance receivables
 
 
 
 
 
 
 
 
 
Commercial insurance
—

 
—

 
—

 
—

 
—

Life insurance
—

 
—

 
—

 
—

 
—

Purchased life insurance
—

 
—

 
—

 
—

 
—

Consumer and other
1,283

 
1,809

 
—

 
1,285

 
27

Total loans, net of unearned income, excluding covered loans
$
142,977

 
$
168,203

 
$
8,197

 
$
145,257

 
$
1,915

Summary of the Post-Modification Balance of TDRs 
The tables below present a summary of the post-modification balance of loans restructured during the three months ended March 31, 2015 and 2014, respectively, which represent TDRs:
 
Three months ended
March 31, 2015

(Dollars in thousands)
 
Total (1)(2)
 
Extension at
Below Market
Terms (2)
 
Reduction of Interest
Rate (2)
 
Modification to 
Interest-only
Payments (2)
 
Forgiveness of Debt(2)
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Industrial
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Retail
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Mixed use and other
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Residential real estate and other
 
3

 
294

 
3

 
294

 
2

 
80

 
1

 
50

 
—

 
—

Total loans
 
3

 
$
294

 
3

 
$
294

 
2

 
$
80

 
1

 
$
50

 
—

 
$
—


Three months ended
March 31, 2014

(Dollars in thousands)
 
Total (1)(2)
 
Extension at
Below Market
Terms (2)
 
Reduction of Interest
Rate (2)
 
Modification to 
Interest-only
Payments (2)
 
Forgiveness of Debt(2)
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
1

 
$
88

 
1

 
$
88

 
—

 
$
—

 
1

 
$
88

 
—

 
$
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Industrial
 
1

 
1,078

 
1

 
1,078

 
—

 
—

 
1

 
1,078

 
—

 
—

Retail
 
1

 
202

 
1

 
202

 
—

 
—

 
—

 
—

 
—

 
—

Mixed use and other
 
3

 
3,877

 
2

 
2,604

 
3

 
3,877

 
1

 
1,273

 
—

 
—

Residential real estate and other
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total loans
 
6

 
$
5,245

 
5

 
$
3,972

 
3

 
$
3,877

 
3

 
$
2,439

 
—

 
$
—

(1)
TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above.
(2)
Balances represent the recorded investment in the loan at the time of the restructuring.
Summary of TDRs Subsequent Default Under the Restructured Terms 
The following table presents a summary of all loans restructured in TDRs during the twelve months ended March 31, 2015 and 2014, and such loans which were in payment default under the restructured terms during the respective periods below:

(Dollars in thousands)
As of March 31, 2015
 
Three Months Ended
March 31, 2015
 
As of March 31, 2014
 
Three Months Ended
March 31, 2014
Total (1)(3)
 
Payments in Default  (2)(3)
 
Total (1)(3)
 
Payments in Default  (2)(3)
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
1

 
$
1,461

 
—

 
$
—

 
1

 
$
88

 
—

 
$
—

Commercial real-estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial construction
—

 
—

 
—

 
—

 
3

 
6,120

 
3

 
6,120

Land
—

 
—

 
—

 
—

 
1

 
2,352

 
—

 
—

Office
2

 
1,510

 
1

 
790

 
4

 
4,021

 
3

 
3,465

Industrial
1

 
685

 
—

 
—

 
2

 
2,027

 
—

 
—

Retail
—

 
—

 
—

 
—

 
1

 
202

 
—

 
—

Multi-family
1

 
181

 
1

 
181

 
—

 
—

 
—

 
—

Mixed use and other
4

 
1,049

 
3

 
816

 
9

 
8,919

 
2

 
399

Residential real estate and other
9

 
2,131

 
2

 
261

 
6

 
1,919

 
—

 
—

Total loans
18

 
$
7,017

 
7

 
$
2,048

 
27

 
$
25,648

 
8

 
$
9,984


(1)
Total TDRs represent all loans restructured in TDRs during the previous twelve months from the date indicated.
(2)
TDRs considered to be in payment default are over 30 days past-due subsequent to the restructuring.
(3)
Balances represent the recorded investment in the loan at the time of the restructuring.
Goodwill and Other Intangible Assets (Tables)
Goodwill Assets by Business Segment 
A summary of the Company’s goodwill assets by business segment is presented in the following table:
(Dollars in thousands)
January 1,
2015
 
Goodwill
Acquired
 
Impairment
Loss
 
Goodwill Adjustments
 
March 31,
2015
Community banking
$
331,752

 
$
16,718

 
$
—

 
$
—

 
$
348,470

Specialty finance
41,768

 
—

 
—

 
(2,155
)
 
39,613

Wealth management
32,114

 
—

 
—

 
—

 
32,114

Total
$
405,634

 
$
16,718

 
$
—

 
$
(2,155
)
 
$
420,197

Summary of Finite-Lived Intangible Assets 
A summary of finite-lived intangible assets as of the dates shown and the expected amortization as of March 31, 2015 is as follows:
(Dollars in thousands)
March 31,
2015
 
December 31, 2014
 
March 31,
2014
Community banking segment:
 
 
 
 
 
Core deposit intangibles:
 
 
 
 
 
Gross carrying amount
$
25,881

 
$
29,379

 
$
40,770

Accumulated amortization
(14,192
)
 
(17,879
)
 
(30,209
)
Net carrying amount
$
11,689

 
$
11,500

 
$
10,561

Specialty finance segment:
 
 
 
 
 
Customer list intangibles:
 
 
 
 
 
Gross carrying amount
$
1,800

 
$
1,800

 
$
1,800

Accumulated amortization
(971
)
 
(941
)
 
(842
)
Net carrying amount
$
829

 
$
859

 
$
958

Wealth management segment:
 
 
 
 
 
Customer list and other intangibles:
 
 
 
 
 
Gross carrying amount
$
7,940

 
$
7,940

 
$
7,690

Accumulated amortization
(1,600
)
 
(1,488
)
 
(1,159
)
Net carrying amount
$
6,340

 
$
6,452

 
$
6,531

Total other intangible assets, net
$
18,858

 
$
18,811

 
$
18,050

Estimated Amortization 
Estimated amortization
 
Actual in three months ended March 31, 2015
$
1,013

Estimated remaining in 2015
2,700

Estimated—2016
3,007

Estimated—2017
2,499

Estimated—2018
2,186

Estimated—2019
1,837

Deposits Deposits (Tables)
Summary of Deposits
The following table is a summary of deposits as of the dates shown: 
(Dollars in thousands)
March 31,
2015
 
December 31, 2014
 
March 31,
2014
Balance:
 
 
 
 
 
Non-interest bearing
$
3,779,609

 
$
3,518,685

 
$
2,773,922

NOW and interest bearing demand deposits
2,262,928

 
2,236,089

 
1,983,251

Wealth management deposits
1,528,963

 
1,226,916

 
1,289,134

Money market
3,791,762

 
3,651,467

 
3,454,271

Savings
1,563,752

 
1,508,877

 
1,443,943

Time certificates of deposit
4,011,755

 
4,139,810

 
4,184,524

Total deposits
$
16,938,769

 
$
16,281,844

 
$
15,129,045

Mix:
 
 
 
 
 
Non-interest bearing
22
%
 
22
%
 
18
%
NOW and interest bearing demand deposits
13

 
14

 
13

Wealth management deposits
9

 
8

 
8

Money market
23

 
22

 
23

Savings
9

 
9

 
10

Time certificates of deposit
24

 
25

 
28

Total deposits
100
%
 
100
%
 
100
%
Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes (Tables)
Summary of Debt
The following table is a summary of notes payable, Federal Home Loan Bank advances, other borrowings and subordinated notes as of the dates shown:
(Dollars in thousands)
March 31, 2015
 
December 31, 2014
 
March 31, 2014
Federal Home Loan Bank advances
$
416,036

 
$
733,050

 
$
387,672

Other borrowings:
 
 
 
 
 
Notes payable
—

 
—

 
182

Securities sold under repurchase agreements
50,076

 
48,566

 
211,692

Other
18,689

 
18,822

 
19,212

Secured borrowings
118,241

 
129,077

 
—

Total other borrowings
187,006

 
196,465

 
231,086

Subordinated notes
140,000

 
140,000

 
—

Total Federal Home Loan Bank advances, other borrowings and subordinated notes
$
743,042

 
$
1,069,515

 
$
618,758

Junior Subordinated Debentures Junior Subordinated Debentures (Tables)
Summary Of The Company's Junior Subordinated Debentures
The following table provides a summary of the Company’s junior subordinated debentures as of March 31, 2015. The junior subordinated debentures represent the par value of the obligations owed to the Trusts.
 
(Dollars in thousands)
Common
Securities
 
Trust 
Preferred
Securities
 
Junior
Subordinated
Debentures
 
Rate
Structure
 
Contractual rate
at 3/31/2015
 
Issue
Date
 
Maturity
Date
 
Earliest
Redemption
Date
Wintrust Capital Trust III
$
774

 
$
25,000

 
$
25,774

 
L+3.25
 
3.51
%
 
04/2003
 
04/2033
 
04/2008
Wintrust Statutory Trust IV
619

 
20,000

 
20,619

 
L+2.80
 
3.08
%
 
12/2003
 
12/2033
 
12/2008
Wintrust Statutory Trust V
1,238

 
40,000

 
41,238

 
L+2.60
 
2.88
%
 
05/2004
 
05/2034
 
06/2009
Wintrust Capital Trust VII
1,550

 
50,000

 
51,550

 
L+1.95
 
2.22
%
 
12/2004
 
03/2035
 
03/2010
Wintrust Capital Trust VIII
1,238

 
40,000

 
41,238

 
L+1.45
 
1.73
%
 
08/2005
 
09/2035
 
09/2010
Wintrust Capital Trust IX
1,547

 
50,000

 
51,547

 
L+1.63
 
1.90
%
 
09/2006
 
09/2036
 
09/2011
Northview Capital Trust I
186

 
6,000

 
6,186

 
L+3.00
 
3.25
%
 
08/2003
 
11/2033
 
08/2008
Town Bankshares Capital Trust I
186

 
6,000

 
6,186

 
L+3.00
 
3.25
%
 
08/2003
 
11/2033
 
08/2008
First Northwest Capital Trust I
155

 
5,000

 
5,155

 
L+3.00
 
3.28
%
 
05/2004
 
05/2034
 
05/2009
Total
 
 
 
 
$
249,493

 

 
2.46
%
 
 
 
 
 
 
Segment Information (Tables)
Summary of Segment Information
The following is a summary of certain operating information for reportable segments:
 
Three months ended
 
$ Change in
Contribution
 
% Change  in
Contribution
(Dollars in thousands)
March 31,
2015
 
March 31,
2014
 
Net interest income:
 
 
 
 
 
 
 
Community Banking
$
122,681

 
$
116,755

 
$
5,926

 
5
 %
Specialty Finance
21,046

 
19,212

 
1,834

 
10

Wealth Management
4,189

 
4,099

 
90

 
2

Total Operating Segments
147,916

 
140,066

 
7,850

 
6

Intersegment Eliminations
3,975

 
3,940

 
35

 
1

Consolidated net interest income
$
151,891

 
$
144,006

 
$
7,885

 
5
 %
Non-interest income:
 
 
 
 
 
 
 
Community Banking
$
44,912

 
$
27,319

 
$
17,593

 
64
 %
Specialty Finance
7,871

 
7,881

 
(10
)
 
—

Wealth Management
18,728

 
16,941

 
1,787

 
11

Total Operating Segments
71,511

 
52,141

 
19,370

 
37

Intersegment Eliminations
(6,970
)
 
(6,612
)
 
(358
)
 
(5
)
Consolidated non-interest income
$
64,541

 
$
45,529

 
$
19,012

 
42
 %
Net revenue:
 
 
 
 
 
 
 
Community Banking
$
167,593

 
$
144,074

 
$
23,519

 
16
 %
Specialty Finance
28,917

 
27,093

 
1,824

 
7

Wealth Management
22,917

 
21,040

 
1,877

 
9

Total Operating Segments
219,427

 
192,207

 
27,220

 
14

Intersegment Eliminations
(2,995
)
 
(2,672
)
 
(323
)
 
(12
)
Consolidated net revenue
$
216,432

 
$
189,535

 
$
26,897

 
14
 %
Segment profit:
 
 
 
 
 
 
 
Community Banking
$
24,965

 
$
22,581

 
$
2,384

 
11
 %
Specialty Finance
10,952

 
8,982

 
1,970

 
22

Wealth Management
3,135

 
2,937

 
198

 
7

Consolidated net income
$
39,052

 
$
34,500

 
$
4,552

 
13
 %
Segment assets:
 
 
 
 
 
 
 
Community Banking
$
17,050,262

 
$
15,160,507

 
$
1,889,755

 
12
 %
Specialty Finance
2,784,069

 
2,532,362

 
251,707

 
10

Wealth Management
547,940

 
528,294

 
19,646

 
4

Consolidated total assets
$
20,382,271

 
$
18,221,163

 
$
2,161,108

 
12
 %
Derivative Financial Instruments (Tables)
Interest Rate Cap Derivative Summary 
Below is a summary of the interest rate cap derivatives held by the Company as of March 31, 2015:
(Dollars in thousands)
 
 
 
 
 
 
 Notional
Accounting
Fair Value as of
Effective Date
Maturity Date
Amount
Treatment
March 31, 2015
May 3, 2012
May 3, 2015
77,000

Non-Hedge Designated
—

May 3, 2012
May 3, 2016
215,000

Non-Hedge Designated
17

June 1, 2012
April 1, 2015
96,530

Non-Hedge Designated
—

August 29, 2012
August 29, 2016
216,500

 Cash Flow Hedging
89

February 22, 2013
August 22, 2016
43,500

 Cash Flow Hedging
26

February 22, 2013
August 22, 2016
56,500

Non-Hedge Designated
34

March 21, 2013
March 21, 2017
100,000

Non-Hedge Designated
275

May 16, 2013
November 16, 2016
75,000

Non-Hedge Designated
95

September 15, 2013
September 15, 2017
50,000

Cash Flow Hedging
299

September 30, 2013
September 30, 2017
40,000

 Cash Flow Hedging
254

 
 
$
970,030

 
$
1,089

Schedule Of Fair Value Of Derivative Financial Instruments 
The table below presents the fair value of the Company’s derivative financial instruments as of March 31, 2015, December 31, 2014 and March 31, 2014:
 
 
Derivative Assets
 
Derivative Liabilities
 
Fair Value
 
Fair Value
(Dollars in thousands)
March 31, 2015
 
December 31, 2014
 
March 31, 2014
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
Derivatives designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives designated as Cash Flow Hedges
$
668

 
$
1,390

 
$
2,578

 
$
1,867

 
$
1,994

 
$
2,892

Interest rate derivatives designated as Fair Value Hedges
20

 
52

 
90

 
—

 
—

 
1

Total derivatives designated as hedging instruments under ASC 815
$
688

 
$
1,442

 
$
2,668

 
$
1,867

 
$
1,994

 
$
2,893

Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
46,862

 
$
36,399

 
$
34,571

 
$
45,831

 
$
34,927

 
$
32,097

Interest rate lock commitments
15,296

 
10,028

 
13,658

 
—

 
20

 
115

Forward commitments to sell mortgage loans
—

 
23

 
625

 
7,410

 
4,239

 
2,688

Foreign exchange contracts
138

 
72

 
7

 
117

 
—

 
4

Total derivatives not designated as hedging instruments under ASC 815
$
62,296

 
$
46,522

 
$
48,861

 
$
53,358

 
$
39,186

 
$
34,904

Total Derivatives
$
62,984

 
$
47,964

 
$
51,529

 
$
55,225

 
$
41,180

 
$
37,797

Schedule Of Cash Flow Hedging Instruments 
The table below provides details on each of these cash flow hedges as of March 31, 2015:
 
March 31, 2015
(Dollars in thousands)
Notional
 
Fair Value
Maturity Date
Amount
 
Asset (Liability)
Interest Rate Swaps:
 
 
 
September 2016
50,000

 
(1,222
)
October 2016
25,000

 
(645
)
Total Interest Rate Swaps
75,000

 
(1,867
)
Interest Rate Caps:
 
 
 
August 2016
43,500

 
26

August 2016
216,500

 
89

September 2017
50,000

 
299

September 2017
40,000

 
254

Total Interest Rate Caps
350,000

 
668

Total Cash Flow Hedges
$
425,000

 
$
(1,199
)
Rollforward Of Amounts In Accumulated Other Comprehensive Income Related To Interest Rate Swaps Designated As Cash Flow Hedges 
A rollforward of the amounts in accumulated other comprehensive loss related to interest rate derivatives designated as cash flow hedges follows:
 
Three months ended
(Dollars in thousands)
March 31,
2015
 
March 31,
2014
Unrealized loss at beginning of period
$
(4,062
)
 
$
(3,971
)
Amount reclassified from accumulated other comprehensive loss to interest expense on junior subordinated debentures
414

 
493

Amount of loss recognized in other comprehensive income
(975
)
 
(591
)
Unrealized loss at end of period
$
(4,623
)
 
$
(4,069
)
Derivatives Used To Hedge Changes In Fair Value Attributable To Interest Rate Risk 
The following table presents the gain/(loss) and hedge ineffectiveness recognized on derivative instruments and the related hedged items that are designated as a fair value hedge accounting relationship as of March 31, 2015 and 2014:
 
(Dollars in thousands)



Derivatives in Fair Value
Hedging Relationships
Location of Gain/(Loss)
Recognized in Income on
Derivative
 
Amount of Gain/(Loss) Recognized
in Income on Derivative
Three Months Ended
 
Amount of Gain/(Loss) Recognized
in Income on Hedged Item
Three Months Ended
 
Income Statement Gain/
(Loss) due to Hedge
Ineffectiveness
Three Months Ended 
March 31, 2015
 
March 31, 2014
 
March 31, 2015
 
March 31, 2014
 
March 31, 2015
 
March 31, 2014
Interest rate swaps
Trading (losses) gains, net
 
$
(32
)
 
$
(17
)
 
$
28

 
$
15

 
$
(4
)
 
$
(2
)

Summary Amounts Included In Consolidated Statement Of Income Related To Derivatives 
Amounts included in the Consolidated Statements of Income related to derivative instruments not designated in hedge relationships were as follows:
(Dollars in thousands)
 
 
Three Months Ended
Derivative
Location in income statement
 
March 31,
2015
 
March 31,
2014
Interest rate swaps and caps
Trading losses, net
 
$
(450
)
 
$
(677
)
Mortgage banking derivatives
Mortgage banking revenue
 
2,094

 
3,677

Covered call options
Fees from covered call options
 
4,360

 
1,542

Foreign exchange contracts
Trading losses, net
 
(51
)
 
(1
)
Derivative Asset and Liability Balance Sheet Offsetting 
The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative assets and liabilities on the Consolidated Statements of Condition. The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown.
 
Derivative Assets
 
Derivative Liabilities
 
Fair Value
 
Fair Value
(Dollars in thousands)
March 31, 2015
 
December 31, 2014
 
March 31, 2014
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
Gross Amounts Recognized
$
47,550

 
$
37,841

 
$
37,239

 
$
47,698

 
$
36,921

 
$
34,990

Less: Amounts offset in the Statements of Financial Condition
—

 
—

 
—

 
—

 
—

 
—

Net amount presented in the Statements of Financial Condition
$
47,550

 
$
37,841

 
$
37,239

 
$
47,698

 
$
36,921

 
$
34,990

Gross amounts not offset in the Statements of Financial Condition
 
 
 
 
 
 
 
 
 
 
 
Offsetting Derivative Positions
(1,563
)
 
(2,771
)
 
(7,359
)
 
(1,563
)
 
(2,771
)
 
(7,359
)
Collateral Posted (1)
—

 
—

 
—

 
(46,135
)
 
(34,150
)
 
(27,631
)
Net Credit Exposure
$
45,987

 
$
35,070

 
$
29,880

 
$
—

 
$
—

 
$
—


(1)
As of March 31, 2015, December 31, 2014 and March 31, 2014, the Company posted collateral of $51.3 million, $43.8 million and $37.1 million, respectively which resulted in excess collateral with its counterparties. For purposes of this disclosure, the amount of posted collateral is limited to the amount offsetting the derivative liability.
Fair Values of Assets and Liabilities (Tables)
Summary Of Balances Of Assets And Liabilities Measured At Fair Value On A Recurring Basis 
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented:
 
March 31, 2015
(Dollars in thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Available-for-sale securities
 
 
 
 
 
 
 
U.S. Treasury
$
271,474

 
$
—

 
$
271,474

 
$
—

U.S. Government agencies
661,793

 
—

 
661,793

 
—

Municipal
269,912

 
—

 
213,863

 
56,049

Corporate notes
133,814

 
—

 
133,814

 
—

Mortgage-backed
329,591

 
—

 
329,591

 
—

Equity securities
54,446

 
—

 
29,790

 
24,656

Trading account securities
7,811

 
—

 
7,811

 
—

Mortgage loans held-for-sale
446,355

 
—

 
446,355

 
—

Mortgage servicing rights
7,852

 
—

 
—

 
7,852

Nonqualified deferred compensation assets
8,718

 
—

 
8,718

 
—

Derivative assets
62,984

 
—

 
62,984

 
—

Total
$
2,254,750

 
$
—

 
$
2,166,193

 
$
88,557

Derivative liabilities
$
55,225

 
$
—

 
$
55,225

 
$
—

 
 
 
December 31, 2014
(Dollars in thousands)
 
Total
 
Level 1
 
Level 2
 
Level 3
Available-for-sale securities
 
 
 
 
 
 
 
 
U.S. Treasury
 
$
381,805

 
$
—

 
$
381,805

 
$
—

U.S. Government agencies
 
668,316

 
—

 
668,316

 
—

Municipal
 
238,529

 
—

 
179,576

 
58,953

Corporate notes
 
133,579

 
—

 
133,579

 
—

Mortgage-backed
 
318,710

 
—

 
318,710

 
—

Equity securities
 
51,139

 
—

 
27,428

 
23,711

Trading account securities
 
1,206

 
—

 
1,206

 
—

Mortgage loans held-for-sale
 
351,290

 
—

 
351,290

 
—

Mortgage servicing rights
 
8,435

 
—

 
—

 
8,435

Nonqualified deferred compensation assets
 
7,951

 
—

 
7,951

 
—

Derivative assets
 
47,964

 
—

 
47,964

 
—

Total
 
$
2,208,924

 
$
—

 
$
2,117,825

 
$
91,099

Derivative liabilities
 
$
41,180

 
$
—

 
$
41,180

 
$
—


 
March 31, 2014
(Dollars in thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Available-for-sale securities
 
 
 
 
 
 
 
U.S. Treasury
$
340,178

 
$
—

 
$
340,178

 
$
—

U.S. Government agencies
828,275

 
—

 
828,275

 
—

Municipal
175,300

 
—

 
135,528

 
39,772

Corporate notes
135,067

 
—

 
135,067

 
—

Mortgage-backed
417,303

 
—

 
417,303

 
—

Equity securities
53,574

 
—

 
30,136

 
23,438

Trading account securities
1,068

 
—

 
1,068

 
—

Mortgage loans held-for-sale
215,231

 
—

 
215,231

 
—

Mortgage servicing rights
8,719

 
—

 
—

 
8,719

Nonqualified deferred compensation assets
7,783

 
—

 
7,783

 
—

Derivative assets
51,529

 
—

 
51,529

 
—

Total
$
2,234,027

 
$
—

 
$
2,162,098

 
$
71,929

Derivative liabilities
$
37,797

 
$
—

 
$
37,797

 
$
—

Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis 
The changes in Level 3 assets measured at fair value on a recurring basis during the three months ended March 31, 2015 and 2014 are summarized as follows:
 
 
 
Equity securities
 
Mortgage
servicing rights
(Dollars in thousands)
Municipal
 
 
Balance at January 1, 2015
$
58,953

 
$
23,711

 
$
8,435

Total net gains (losses) included in:
 
 
 
 
 
Net Income (1)
—

 
—

 
(583
)
Other comprehensive income
203

 
945

 
—

Purchases
6,674

 
—

 
—

Issuances
—

 
—

 
—

Sales
—

 
—

 
—

Settlements
(9,781
)
 
—

 
—

Net transfers into/(out of) Level 3 
—

 
—

 
—

Balance at March 31, 2015
$
56,049

 
$
24,656

 
$
7,852

 
(1)
Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income.
 
 
 
Equity securities
 
Mortgage
servicing rights
(Dollars in thousands)
Municipal
 
 
Balance at January 1, 2014
$
36,386

 
$
22,163

 
$
8,946

Total net gains (losses) included in:
 
 
 
 
 
Net Income (1)
—

 
—

 
(227
)
Other comprehensive income
147

 
1,275

 
—

Purchases
3,360

 
—

 
—

Issuances
—

 
—

 
—

Sales
—

 
—

 
—

Settlements
(121
)
 
—

 
—

Net transfers into/(out of) Level 3 
—

 
—

 
—

Balance at March 31, 2014
$
39,772

 
$
23,438

 
$
8,719

(1)
Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income.
Summary Of Assets Measured At Fair Value On A Nonrecurring Basis 
For assets measured at fair value on a nonrecurring basis that were still held in the balance sheet at the end of the period, the following table provides the carrying value of the related individual assets or portfolios at March 31, 2015.
 
March 31, 2015
 
Three Months
Ended March 31, 2015
Fair Value Losses Recognized, net
(Dollars in thousands)
Total
 
Level 1
 
Level 2
 
Level 3
 
Impaired loans—collateral based
$
69,002

 
$
—

 
$
—

 
$
69,002

 
$
2,731

Other real estate owned, including covered other real estate owned (1)
81,042

 
—

 
—

 
81,042

 
2,362

Total
$
150,044

 
$
—

 
$
—

 
$
150,044

 
$
5,093

(1)
Fair value losses recognized, net on other real estate owned include valuation adjustments and charge-offs during the respective period.
Schedule Of Valuation Techniques And Significant Unobservable Inputs Used To Measure Both Recurring And Non-Recurring 
The valuation techniques and significant unobservable inputs used to measure both recurring and non-recurring Level 3 fair value measurements at March 31, 2015 were as follows:
(Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
Fair Value
 
Valuation Methodology
 
Significant Unobservable Input
 
Range
of Inputs
 
Weighted
Average
of Inputs
 
Impact to valuation
from an increased or
higher input value
Measured at fair value on a recurring basis:
 
 
 
 
 
 
 
 
 
 
 
Municipal Securities
$
56,049

 
Bond pricing
 
Equivalent rating
 
BBB-AA+
 
N/A
 
Increase
Equity Securities
24,656

 
Discounted cash flows
 
Discount rate
 
1.70%-2.34%
 
2.04%
 
Decrease
Mortgage Servicing Rights
7,852

 
Discounted cash flows
 
Discount rate
 
9%-12%
 
9.15%
 
Decrease
 
 
 
 
 
Constant prepayment rate (CPR)
 
11%-20%
 
13.29%
 
Decrease
Measured at fair value on a non-recurring basis:
 
 
 
 
 
 
 
 
 
 
 
Impaired loans—collateral based
$
69,002

 
Appraisal value
 
N/A
 
N/A
 
N/A
 
N/A
Other real estate owned, including covered other real estate owned
81,042

 
Appraisal value
 
Property specific valuation adjustment
 
(79)%-154%
 
(1.76)%
 
Increase
Summary Of Carrying Amounts And Estimated Fair Values Of Financial Instruments 
The table below presents the carrying amounts and estimated fair values of the Company’s financial instruments as of the dates shown:
 
At March 31, 2015
 
At December 31, 2014
 
At March 31, 2014
 
Carrying
 
Fair
 
Carrying
 
Fair
 
Carrying
 
Fair
(Dollars in thousands)
Value
 
Value
 
Value
 
Value
 
Value
 
Value
Financial Assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
290,872

 
$
290,872

 
$
230,707

 
$
230,707

 
$
342,738

 
$
342,738

Interest bearing deposits with banks
697,799

 
697,799

 
998,437

 
998,437

 
540,964

 
540,964

Available-for-sale securities
1,721,030

 
1,721,030

 
1,792,078

 
1,792,078

 
1,949,697

 
1,949,697

Trading account securities
7,811

 
7,811

 
1,206

 
1,206

 
1,068

 
1,068

Federal Home Loan Bank and Federal Reserve Bank stock, at cost
92,948

 
92,948

 
91,582

 
91,582

 
78,524

 
78,524

Brokerage customer receivables
25,287

 
25,287

 
24,221

 
24,221

 
26,884

 
26,884

Mortgage loans held-for-sale, at fair value
446,355

 
446,355

 
351,290

 
351,290

 
215,231

 
215,231

Total loans
15,162,753

 
15,868,532

 
14,636,107

 
15,346,266

 
13,445,638

 
14,078,788

Mortgage servicing rights
7,852

 
7,852

 
8,435

 
8,435

 
8,719

 
8,719

Nonqualified deferred compensation assets
8,718

 
8,718

 
7,951

 
7,951

 
7,783

 
7,783

Derivative assets
62,984

 
62,984

 
47,964

 
47,964

 
51,529

 
51,529

FDIC indemnification asset
10,224

 
10,224

 
11,846

 
11,846

 
60,298

 
60,298

Accrued interest receivable and other
181,998

 
181,998

 
169,156

 
169,156

 
169,580

 
169,580

Total financial assets
$
18,716,631

 
$
19,422,410

 
$
18,370,980

 
$
19,081,139

 
$
16,898,653

 
$
17,531,803

Financial Liabilities
 
 
 
 
 
 
 
 
 
 
 
Non-maturity deposits
$
12,927,014

 
$
12,927,014

 
$
12,142,034

 
$
12,142,034

 
$
10,944,521

 
$
10,944,521

Deposits with stated maturities
4,011,755

 
4,017,565

 
4,139,810

 
4,143,161

 
4,184,524

 
4,197,918

Federal Home Loan Bank advances
416,036

 
422,305

 
733,050

 
738,113

 
387,672

 
393,145

Other borrowings
187,006

 
187,006

 
196,465

 
197,883

 
231,086

 
231,086

Subordinated notes
140,000

 
147,851

 
140,000

 
143,639

 
—

 
—

Junior subordinated debentures
249,493

 
250,196

 
249,493

 
250,305

 
249,493

 
250,578

Derivative liabilities
55,225

 
55,225

 
41,180

 
41,180

 
37,797

 
37,797

Accrued interest payable
8,583

 
8,583

 
8,001

 
8,001

 
7,218

 
7,218

Total financial liabilities
$
17,995,112

 
$
18,015,745

 
$
17,650,033

 
$
17,664,316

 
$
16,042,311

 
$
16,062,263

Stock-Based Compensation Plans (Tables)
Weighted Average Assumptions Used To Determine The Options Fair Value 
The following table presents the weighted average assumptions used to determine the fair value of options granted in the three month periods ending March 31, 2015 and 2014.
 
Three Months Ended
 
March 31,
 
March 31,
 
2015
 
2014
Expected dividend yield
0.9
%
 
0.4
%
Expected volatility
26.5
%
 
30.8
%
Risk-free rate
1.3
%
 
0.7
%
Expected option life (in years)
4.5

 
4.5

Summary Of Stock Option Activity 
A summary of the Company's stock option activity for the three months ended March 31, 2015 and March 31, 2014 is presented below:
Stock Options
Common
Shares
 
Weighted
Average
Strike Price
 
Remaining
Contractual
Term (1)
 
Intrinsic
Value (2)
($000)
Outstanding at January 1, 2015
1,618,426

 
$
43.00

 
 
 
 
Conversion of options of acquired company
16,364

 
21.18

 
 
 
 
Granted
487,259

 
44.11

 
 
 
 
Exercised
(51,522
)
 
31.50

 
 
 
 
Forfeited or canceled
(175,579
)
 
54.40

 
 
 
 
Outstanding at March 31, 2015
1,894,948

 
$
42.35

 
4.6
 
$
11,649

Exercisable at March 31, 2015
1,158,991

 
$
41.00

 
3.3
 
$
9,291

Stock Options
Common
Shares
 
Weighted
Average
Strike Price
 
Remaining
Contractual
Term (1)
 
Intrinsic
Value (2)
($000)
Outstanding at January 1, 2014
1,524,672

 
$
42.00

 
 
 
 
Granted
358,440

 
46.86

 
 
 
 
Exercised
(77,311
)
 
34.79

 
 
 
 
Forfeited or canceled
(18,898
)
 
45.56

 
 
 
 
Outstanding at March 31, 2014
1,786,903

 
$
43.25

 
3.7
 
$
12,834

Exercisable at March 31, 2014
1,166,309

 
$
43.96

 
2.4
 
$
8,655


(1)
Represents the remaining weighted average contractual life in years.
(2)
Aggregate intrinsic value represents the total pre-tax intrinsic value (i.e., the difference between the Company's stock price on the last trading day of the quarter and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the quarter. Options with exercise prices above the stock price on the last trading day of the quarter are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Company's stock.
Summary Of Plans' Restricted Share And Performance-Vested Stock Award Activity 
A summary of the Plans' restricted share activity for the three months ended March 31, 2015 and March 31, 2014 is presented below:
 
Three months ended March 31, 2015
 
Three months ended March 31, 2014
Restricted Shares
Common
Shares

Weighted
Average
Grant-Date
Fair Value

Common
Shares

Weighted
Average
Grant-Date
Fair Value
Outstanding at January 1
146,112

 
$
47.45

 
181,522

 
$
43.39

Granted
12,300

 
44.11

 
2,775

 
46.86

Vested and issued
(4,925
)
 
36.74

 
(24,900
)
 
33.81

Forfeited
—

 
—

 
(451
)
 
44.29

Outstanding at March 31
153,487

 
$
47.53

 
158,946

 
$
44.95

Vested, but not issuable at March 31
85,000

 
$
51.88

 
85,000

 
$
51.88


A summary of the 2007 Plan's performance-based stock award activity, based on the target level of the awards, for the three months ended March 31, 2015 and March 31, 2014 is presented below:
 
Three months ended March 31, 2015
 
Three months ended March 31, 2014
Performance-based Stock
Common
Shares
 
Weighted
Average
Grant-Date
Fair Value
 
Common
Shares
 
Weighted
Average
Grant-Date
Fair Value
Outstanding at January 1
295,679

 
$
38.18

 
307,512

 
$
34.01

Granted
102,828

 
44.11

 
91,501

 
46.86

Vested and issued
(78,590
)
 
31.10

 
(15,944
)
 
33.25

Forfeited
(29,926
)
 
31.41

 
(81,551
)
 
33.38

Outstanding at March 31
289,991

 
$
42.90

 
301,518

 
$
38.12


Shareholders' Equity and Earnings Per Share (Tables)
Components Of Other Comprehensive Income (Loss) 
The following tables summarize the components of other comprehensive income (loss), including the related income tax effects, and the related amount reclassified to net income for the periods presented (in thousands).
 
 
Accumulated
Unrealized (Losses) Gains on Securities
 
Accumulated
Unrealized
Losses on
Derivative
Instruments
 
Accumulated
Foreign
Currency
Translation
Adjustments
 
Total
Accumulated
Other
Comprehensive
(Loss) Income
Balance at January 1, 2015
$
(9,533
)
 
$
(2,517
)
 
$
(25,282
)
 
$
(37,332
)
Other comprehensive income (loss) during the period, net of tax, before reclassifications
15,945

 
(593
)
 
(9,045
)
 
6,307

Amount reclassified from accumulated other comprehensive income (loss), net of tax
(318
)
 
252

 
—

 
(66
)
Net other comprehensive income (loss)during the period, net of tax
$
15,627

 
$
(341
)
 
$
(9,045
)
 
$
6,241

Balance at March 31, 2015
$
6,094

 
$
(2,858
)
 
$
(34,327
)
 
$
(31,091
)
 
 
 
 
 
 
 
 
Balance at January 1, 2014
$
(53,665
)
 
$
(2,462
)
 
$
(6,909
)
 
$
(63,036
)
Other comprehensive income (loss) during the period, net of tax, before reclassifications
13,722

 
(356
)
 
(7,400
)
 
5,966

Amount reclassified from accumulated other comprehensive income (loss), net of tax
20

 
297

 
—

 
317

Net other comprehensive income (loss) during the period, net of tax
$
13,742

 
$
(59
)
 
$
(7,400
)
 
$
6,283

Balance at March 31, 2014
$
(39,923
)
 
$
(2,521
)
 
$
(14,309
)
 
$
(56,753
)
Other Comprehensive Income Reclassified from AOCI 
 
 
Amount Reclassified from Accumulated Other Comprehensive Income for the
 
Details Regarding the Component of Accumulated Other Comprehensive Income
 
Three months ended
 
Impacted Line on the Consolidated Statements of Income
 
March 31,
 
 
2015
 
2014
 
Accumulated unrealized losses on securities
 
 
 
 
 
 
Gains (losses) included in net income
 
$
524

 
$
(33
)
 
Gains (losses) on available-for-sale securities, net
 
 
524

 
(33
)
 
Income before taxes
Tax effect
 
$
(206
)
 
$
13

 
Income tax expense
Net of tax
 
$
318

 
$
(20
)
 
Net income
 
 
 
 
 
 
 
Accumulated unrealized losses on derivative instruments
 
 
 
 
 
 
Amount reclassified to interest expense on junior subordinated debentures
 
$
414

 
$
493

 
Interest on junior subordinated debentures
 
 
(414
)
 
(493
)
 
Income before taxes
Tax effect
 
$
162

 
$
196

 
Income tax expense
Net of tax
 
$
(252
)
 
$
(297
)
 
Net income
Computation Of Basic And Diluted Earnings Per Common Share 
The following table shows the computation of basic and diluted earnings per share for the periods indicated:
 
 
 
 
Three Months Ended
(In thousands, except per share data)
 
 
March 31,
2015
 
March 31,
2014
Net income
 
 
$
39,052

 
$
34,500

Less: Preferred stock dividends and discount accretion
 
 
1,581

 
1,581

Net income applicable to common shares—Basic
(A)
 
37,471

 
32,919

Add: Dividends on convertible preferred stock, if dilutive
 
 
1,581

 
1,581

Net income applicable to common shares—Diluted
(B)
 
39,052

 
34,500

Weighted average common shares outstanding
(C)
 
47,239

 
46,195

Effect of dilutive potential common shares
 
 
 
 
 
Common stock equivalents
 
 
1,158

 
1,434

Convertible preferred stock, if dilutive
 
 
3,075

 
3,075

Total dilutive potential common shares
 
 
4,233

 
4,509

Weighted average common shares and effect of dilutive potential common shares
(D)
 
51,472

 
50,704

Net income per common share:
 
 
 
 
 
Basic
(A/C)
 
$
0.79

 
$
0.71

Diluted
(B/D)
 
$
0.76

 
$
0.68

Business Combinations (Summary of FDIC Indemnification Asset) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
FDIC Indemnification Asset [Roll Forward]
 
 
Balance at beginning of period
$ 11,846 
$ 85,672 
Additions from acquisitions
0 
0 
Additions from reimbursable expenses
1,575 
1,282 
Amortization
(1,260)
(1,603)
Changes in expected reimbursements from the FDIC for changes in expected credit losses
(3,993)
(15,384)
Payments provided to (received from) the FDIC
(2,056)
9,669 
Balance at end of period
$ 10,224 
$ 60,298 
Business Combinations (Narrative) (Detail) (USD $)
3 Months Ended 0 Months Ended 0 Months Ended 0 Months Ended 63 Months Ended 0 Months Ended
Mar. 31, 2015
Jan. 16, 2015
Delavan Bancshares
locations
Aug. 8, 2014
Talmer Bank & Trust
Aug. 8, 2014
Talmer Bank & Trust
locations
Jul. 11, 2014
THE National Bank
Jul. 11, 2014
THE National Bank
May 16, 2014
Urban Partnership Bank, Stone Park branch
May 16, 2014
Urban Partnership Bank, Stone Park branch
Mar. 31, 2015
FDIC Assisted
financial_institution
Apr. 28, 2014
Policy Billing Services Inc. And Equity Premium Finance Inc.
Apr. 28, 2014
Policy Billing Services Inc. And Equity Premium Finance Inc.
Business Acquisition [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Effective date of acquisition
 
Jan. 16, 2015 
Aug. 08, 2014 
 
Jul. 11, 2014 
 
May 16, 2014 
 
 
Apr. 28, 2014 
 
Number of locations
 
4 
 
11 
 
 
 
 
 
 
 
Assets acquired
 
$ 223,900,000 
 
$ 361,300,000 
 
$ 94,100,000 
 
 
 
 
 
Loans acquired
 
128,000,000 
 
41,500,000 
 
75,000,000 
 
 
 
 
7,400,000 
Liabilities assumed
 
185,600,000 
 
361,300,000 
 
 
 
5,500,000 
 
 
 
Assumed deposits
 
170,200,000 
 
354,900,000 
 
36,200,000 
 
5,400,000 
 
 
 
Additional goodwill recorded on acquisition
$ 16,718,000 
$ 16,700,000 
$ 9,700,000 
 
$ 16,300,000 
 
$ 678,000 
 
 
$ 6,500,000 
 
Number of FDIC assisted banks acquired
 
 
 
 
 
 
 
 
9 
 
 
FDIC loss sharing percentage on purchased loans, OREO, and certain other assets
80.00% 
 
 
 
 
 
 
 
 
 
 
Number of affiliated companies acquired
 
 
 
 
 
 
 
 
 
2 
 
Available-For-Sale Securities (Schedule of Available-for-Sale Securities Reconciliation) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
$ 1,711,113 
$ 1,807,913 
$ 2,015,966 
Gross Unrealized Gains
26,395 
22,145 
17,212 
Gross Unrealized Losses
(16,478)
(37,980)
(83,481)
Fair Value
1,721,030 
1,792,078 
1,949,697 
U.S. Treasury
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
273,173 
388,713 
354,109 
Gross Unrealized Gains
148 
84 
263 
Gross Unrealized Losses
(1,847)
(6,992)
(14,194)
Fair Value
271,474 
381,805 
340,178 
U.S. Government agencies
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
665,177 
686,106 
874,845 
Gross Unrealized Gains
5,348 
4,113 
3,286 
Gross Unrealized Losses
(8,732)
(21,903)
(49,856)
Fair Value
661,793 
668,316 
828,275 
Municipal
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
264,949 
234,951 
175,028 
Gross Unrealized Gains
6,485 
5,318 
3,439 
Gross Unrealized Losses
(1,522)
(1,740)
(3,167)
Fair Value
269,912 
238,529 
175,300 
Corporate notes, Financial issuers
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
129,360 
129,309 
129,413 
Gross Unrealized Gains
1,965 
2,006 
2,306 
Gross Unrealized Losses
(1,321)
(1,557)
(1,735)
Fair Value
130,004 
129,758 
129,984 
Corporate notes, Other
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
3,759 
3,766 
4,986 
Gross Unrealized Gains
52 
55 
100 
Gross Unrealized Losses
(1)
0 
(3)
Fair Value
3,810 
3,821 
5,083 
Mortgage-backed securities
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
280,679 1
271,129 1
371,825 1
Gross Unrealized Gains
5,983 1
5,448 1
3,919 1
Gross Unrealized Losses
(2,529)1
(4,928)1
(13,188)1
Fair Value
284,133 1
271,649 1
362,556 1
Mortgage-backed, Collateralized mortgage obligations
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
45,299 1
47,347 1
55,190 1
Gross Unrealized Gains
435 1
249 1
356 1
Gross Unrealized Losses
(276)1
(535)1
(799)1
Fair Value
45,458 1
47,061 1
54,747 1
Equity securities
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
48,717 
46,592 
50,570 
Gross Unrealized Gains
5,979 
4,872 
3,543 
Gross Unrealized Losses
(250)
(325)
(539)
Fair Value
$ 54,446 
$ 51,139 
$ 53,574 
Available-For-Sale Securities (Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
$ 432,543 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
(4,630)
Continuous unrealized losses existing for greater than 12 months, Fair value
488,458 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
(11,848)
Total, Fair value
921,001 
Total, Unrealized losses
(16,478)
U.S. Treasury
 
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
198,297 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
(1,847)
Continuous unrealized losses existing for greater than 12 months, Fair value
0 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
0 
Total, Fair value
198,297 
Total, Unrealized losses
(1,847)
U.S. Government agencies
 
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
163,928 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
(2,158)
Continuous unrealized losses existing for greater than 12 months, Fair value
259,346 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
(6,574)
Total, Fair value
423,274 
Total, Unrealized losses
(8,732)
Municipal
 
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
41,611 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
(500)
Continuous unrealized losses existing for greater than 12 months, Fair value
37,899 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
(1,022)
Total, Fair value
79,510 
Total, Unrealized losses
(1,522)
Corporate notes, Financial issuers
 
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
9,968 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
(31)
Continuous unrealized losses existing for greater than 12 months, Fair value
44,667 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
(1,290)
Total, Fair value
54,635 
Total, Unrealized losses
(1,321)
Corporate notes, Other
 
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
999 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
(1)
Continuous unrealized losses existing for greater than 12 months, Fair value
0 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
0 
Total, Fair value
999 
Total, Unrealized losses
(1)
Mortgage-backed securities
 
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
16,725 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
(92)
Continuous unrealized losses existing for greater than 12 months, Fair value
127,433 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
(2,437)
Total, Fair value
144,158 
Total, Unrealized losses
(2,529)
Mortgage-backed, Collateralized mortgage obligations
 
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
1,015 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
(1)
Continuous unrealized losses existing for greater than 12 months, Fair value
10,502 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
(275)
Total, Fair value
11,517 
Total, Unrealized losses
(276)
Equity securities
 
Schedule of Available-for-sale Securities [Line Items]
 
Continuous unrealized losses existing for less than 12 months, Fair value
0 
Continuous unrealized losses existing for less than 12 months, Unrealized losses
0 
Continuous unrealized losses existing for greater than 12 months, Fair value
8,611 
Continuous unrealized losses existing for greater than 12 months, Unrealized losses
(250)
Total, Fair value
8,611 
Total, Unrealized losses
$ (250)
Available-For-Sale Securities (Schedule of Realized Gain (Loss)) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Available-for-sale Securities [Abstract]
 
 
Realized gains
$ 553 
$ 55 
Realized losses
(29)
(88)
Net realized gains (losses)
524 
(33)
Other than temporary impairment charges
0 
0 
Gains (losses) on available-for-sale securities, net
524 
(33)
Proceeds from sales of available-for-sale securities
$ 635,532 
$ 14,800 
Available-For-Sale Securities (Investments Classified by Contractual Maturity Date) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Due in one year or less, Amortized Cost
$ 151,585 
$ 285,596 
$ 203,749 
Due in one to five years, Amortized Cost
249,861 
172,647 
338,130 
Due in five to ten years, Amortized Cost
837,926 
331,389 
344,296 
Due after ten years, Amortized Cost
97,046 
653,213 
652,206 
Amortized Cost
1,711,113 
1,807,913 
2,015,966 
Due in one year or less, Fair Value
151,854 
285,889 
203,942 
Due in one to five years, Fair Value
250,483 
172,885 
338,980 
Due in five to ten years, Fair Value
836,598 
325,644 
330,546 
Due after ten years, Fair Value
98,058 
637,811 
605,352 
Available-for-sale securities, at fair value
1,721,030 
1,792,078 
1,949,697 
Mortgage-backed securities
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
325,978 
318,476 
427,015 
Available-for-sale securities, at fair value
329,591 
318,710 
417,303 
Equity securities
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
48,717 
46,592 
50,570 
Available-for-sale securities, at fair value
$ 54,446 
$ 51,139 
$ 53,574 
Available-For-Sale Securities (Narrative) (Detail) (USD $)
In Billions, unless otherwise specified
Mar. 31, 2015
securities
Dec. 31, 2014
Mar. 31, 2014
Available-for-sale Securities [Abstract]
 
 
 
Pledged Securities, carrying value
$ 1.1 
$ 1.1 
$ 1.2 
Number of securities by a single non-goverment sponsored issuer exceeding 10% of shareholders' equity
0 
 
 
Loans (Summary of Loan Portfolio) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
$ 14,953,059 
$ 14,409,398 
$ 13,133,160 
Covered loans
209,694 
226,709 
312,478 
Total loans
15,162,753 
14,636,107 
13,445,638 
Total loans, net of unearned income, excluding covered loans, percentage
99.00% 
98.00% 
98.00% 
Covered loans, percentage
1.00% 
2.00% 
2.00% 
Total loans, percentage
100.00% 
100.00% 
100.00% 
Commercial
 
 
 
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
4,211,932 
3,924,394 
3,439,197 
Total loans, net of unearned income, excluding covered loans, percentage
28.00% 
26.00% 
26.00% 
Commercial real-estate
 
 
 
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
4,710,486 
4,505,753 
4,262,255 
Total loans, net of unearned income, excluding covered loans, percentage
31.00% 
31.00% 
32.00% 
Home equity
 
 
 
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
709,283 
716,293 
707,748 
Total loans, net of unearned income, excluding covered loans, percentage
5.00% 
5.00% 
5.00% 
Residential real-estate
 
 
 
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
495,925 
483,542 
426,769 
Total loans, net of unearned income, excluding covered loans, percentage
3.00% 
3.00% 
3.00% 
Premium finance receivables
 
 
 
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,319,623 
2,350,833 
2,208,361 
Consumer and other
 
 
 
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
130,156 
151,012 
159,496 
Total loans, net of unearned income, excluding covered loans, percentage
1.00% 
1.00% 
1.00% 
Commercial insurance loans |
Premium finance receivables
 
 
 
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,319,623 
2,350,833 
2,208,361 
Total loans, net of unearned income, excluding covered loans, percentage
15.00% 
16.00% 
17.00% 
Life insurance |
Premium finance receivables
 
 
 
Loans [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
$ 2,375,654 
$ 2,277,571 
$ 1,929,334 
Total loans, net of unearned income, excluding covered loans, percentage
16.00% 
16.00% 
14.00% 
Loans (Schedule of Unpaid Principal Balance And Carrying Value Of Acquired Loans) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Bank acquisitions
 
 
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
 
 
Unpaid Principal Balance
$ 277,163 
$ 285,809 
Carrying Value
222,837 
227,229 
Life insurance premium finance loans acquisition
 
 
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
 
 
Unpaid Principal Balance
394,632 
399,665 
Carrying Value
$ 389,048 
$ 393,479 
Loans Loans (Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period) (Details) (Delavan Bancshares, USD $)
In Thousands, unless otherwise specified
Jan. 16, 2015
Delavan Bancshares
 
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
 
Contractually required payments including interest
$ 15,791 
Less: Nonaccretable difference
1,442 
Cash flows expected to be collected
14,349 1
Less: Accretable yield
898 
Fair value of PCI loans acquired
$ 13,451 
Loans (Activity Related to Accretable Yield of Loans Acquired With Evidence of Credit Quality Deterioration Since Origination) (Detail) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Schedule Of Accretable Yield Activity Related to Loans Acquired With Evidence Of Credit Quality Deterioration Since Origination Table [Line Items]
 
 
Certain Loans Acquired In Transfer Not Accounted fo as Debt Securities, Accretable Yield, To Be Amortized To Indem Asset
$ 15,800,000 
 
Bank acquisitions
 
 
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
 
 
Accretable yield, beginning balance
77,485,000 
107,655,000 
Acquisitions
898,000 
0 
Accretable yield amortized to interest income
(5,504,000)
(7,770,000)
Accretable yield amortized to indemnification asset
(3,576,000)1
(5,648,000)1
Reclassification from non-accretable difference
1,103,000 2
8,580,000 2
(Decreases) increases in interest cash flows due to payments and changes in interest rates
(1,224,000)
(5,143,000)
Accretable yield, ending balance
69,182,000 3
97,674,000 3
Life insurance premium finance loans acquisition
 
 
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
 
 
Accretable yield, beginning balance
1,617,000 
8,254,000 
Acquisitions
0 
0 
Accretable yield amortized to interest income
(601,000)
(1,771,000)
Accretable yield amortized to indemnification asset
0 1
0 1
Reclassification from non-accretable difference
0 2
0 2
(Decreases) increases in interest cash flows due to payments and changes in interest rates
0 
78,000 
Accretable yield, ending balance
$ 1,016,000 3
$ 6,561,000 3
Loans (Narrative) (Detail) (USD $)
3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Mar. 31, 2015
Bank acquisitions
Mar. 31, 2014
Bank acquisitions
Mar. 31, 2015
Premium finance receivables
Dec. 31, 2014
Premium finance receivables
Mar. 31, 2014
Premium finance receivables
Schedule Of Accretable Yield Activity Related to Loans Acquired With Evidence Of Credit Quality Deterioration Since Origination Table [Line Items]
 
 
 
 
 
 
 
 
Loans and Leases Receivable, Deferred Income
 
 
 
 
 
$ 48,100,000 
$ 46,900,000 
$ 40,300,000 
Deferred Discounts, Finance Charges and Interest Included in Receivables
(3,700,000)
330,000 
(6,200,000)
 
 
 
 
 
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion
 
 
 
$ 5,504,000 
$ 7,770,000 
 
 
 
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Schedule of Aging of the Company's Loan Portfolio) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
$ 80,698 
$ 77,710 
$ 92,008 
90+ days and still accruing
43,585 
37,987 
66,697 
Current
14,917,238 
14,408,516 
13,144,491 
Loans, net of unearned income, excluding covered loans
14,953,059 
14,409,398 
13,133,160 
Nonaccrual
73,619 
70,420 
82,872 
90+ days and still accruing
27,151 
20,148 
30,866 
Current
14,737,743 
14,213,075 
12,890,704 
Covered loans, Nonaccrual
7,079 
7,290 
9,136 
Covered loans, 90 plus days and still accruing
16,434 
17,839 
35,831 
Covered loans, Current
179,495 
195,441 
253,787 
Covered loans
209,694 
226,709 
312,478 
Total loans
15,162,753 
14,636,107 
13,445,638 
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
26,769 
39,281 
33,108 
60-89 days past due
26,211 
37,977 
26,426 
Covered loans, 60-89 days past due
558 
1,304 
6,682 
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
94,463 
72,613 
109,334 
30-59 days past due
88,335 
67,778 
102,292 
Covered loans, 30-59 days past due
6,128 
4,835 
7,042 
Commercial
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
5,586 
9,157 
11,782 
90+ days and still accruing
612 
839 
1,466 
Current
4,177,491 
3,897,717 
3,396,051 
Loans, net of unearned income, excluding covered loans
4,211,932 
3,924,394 
3,439,197 
Commercial |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
5,112 
5,123 
2,235 
Commercial |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
23,131 
11,558 
27,663 
Commercial |
Commercial and industrial
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
5,586 
9,132 
11,112 
90+ days and still accruing
0 
474 
387 
Current
2,457,174 
2,213,105 
1,965,425 
Loans, net of unearned income, excluding covered loans
2,484,465 
2,233,364 
1,995,309 
Commercial |
Commercial and industrial |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
4,756 
3,161 
2,235 
Commercial |
Commercial and industrial |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
16,949 
7,492 
16,150 
Commercial |
Franchise
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
225,305 
231,789 
221,026 
Loans, net of unearned income, excluding covered loans
225,762 
233,316 
221,101 
Commercial |
Franchise |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
308 
0 
Commercial |
Franchise |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
457 
1,219 
75 
Commercial |
Mortgage warehouse lines of credit
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
186,372 
139,003 
60,809 
Loans, net of unearned income, excluding covered loans
186,372 
139,003 
60,809 
Commercial |
Mortgage warehouse lines of credit |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial |
Mortgage warehouse lines of credit |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial |
Community Advanatage - homeowners association
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
108,382 
106,364 
91,414 
Loans, net of unearned income, excluding covered loans
108,382 
106,364 
91,414 
Commercial |
Community Advanatage - homeowners association |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial |
Community Advanatage - homeowners association |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial |
Aircraft
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
6,295 
8,065 
8,840 
Loans, net of unearned income, excluding covered loans
6,975 
8,065 
8,840 
Commercial |
Aircraft |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
291 
0 
0 
Commercial |
Aircraft |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
389 
0 
0 
Commercial |
Asset-based lending
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
25 
670 
90+ days and still accruing
0 
0 
0 
Current
805,866 
802,608 
729,425 
Loans, net of unearned income, excluding covered loans
810,685 
806,402 
740,668 
Commercial |
Asset-based lending |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
1,375 
0 
Commercial |
Asset-based lending |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
4,819 
2,394 
10,573 
Commercial |
Tax exempt
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
205,195 
217,487 
177,973 
Loans, net of unearned income, excluding covered loans
205,195 
217,487 
177,973 
Commercial |
Tax exempt |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial |
Tax exempt |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial |
Leases
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
171,432 
159,744 
121,986 
Loans, net of unearned income, excluding covered loans
172,014 
160,136 
121,986 
Commercial |
Leases |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
65 
77 
0 
Commercial |
Leases |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
517 
315 
0 
Commercial |
Other
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
2,735 
11,034 
10,261 
Loans, net of unearned income, excluding covered loans
2,735 
11,034 
10,261 
Commercial |
Other |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial |
Other |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial |
PCI - commercial
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 1
0 1
0 1
90+ days and still accruing
612 1
365 1
1,079 1
Current
8,735 1
8,518 1
8,892 1
Loans, net of unearned income, excluding covered loans
9,347 1 2
9,223 1 2
10,836 1 2
Commercial |
PCI - commercial |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 1
202 1
0 1
Commercial |
PCI - commercial |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 1
138 1
865 1
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
29,982 
26,605 
33,733 
90+ days and still accruing
18,120 
10,976 
21,073 
Current
4,628,193 
4,428,053 
4,152,806 
Loans, net of unearned income, excluding covered loans
4,710,486 
4,505,753 
4,262,255 
Commercial real-estate |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
6,072 
12,232 
15,782 
Commercial real-estate |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
28,119 
27,887 
38,861 
Commercial real-estate |
Residential construction
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
46,796 
38,370 
35,690 
Loans, net of unearned income, excluding covered loans
46,796 
38,696 
36,397 
Commercial real-estate |
Residential construction |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
250 
680 
Commercial real-estate |
Residential construction |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
76 
27 
Commercial real-estate |
Commercial construction
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
230 
844 
90+ days and still accruing
0 
0 
0 
Current
209,039 
185,513 
150,786 
Loans, net of unearned income, excluding covered loans
210,031 
187,766 
151,630 
Commercial real-estate |
Commercial construction |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
0 
Commercial real-estate |
Commercial construction |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
992 
2,023 
0 
Commercial real-estate |
Land
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
2,646 
2,656 
2,405 
90+ days and still accruing
0 
0 
0 
Current
84,454 
86,779 
99,445 
Loans, net of unearned income, excluding covered loans
89,042 
91,830 
107,970 
Commercial real-estate |
Land |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
0 
2,682 
Commercial real-estate |
Land |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
1,942 
2,395 
3,438 
Commercial real-estate |
Office
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
8,243 
7,288 
6,970 
90+ days and still accruing
0 
0 
0 
Current
731,568 
694,149 
633,655 
Loans, net of unearned income, excluding covered loans
743,126 
705,432 
651,165 
Commercial real-estate |
Office |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
171 
2,621 
1,672 
Commercial real-estate |
Office |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
3,144 
1,374 
8,868 
Commercial real-estate |
Industrial
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
3,496 
2,392 
6,101 
90+ days and still accruing
0 
0 
0 
Current
599,050 
617,820 
615,139 
Loans, net of unearned income, excluding covered loans
604,326 
623,970 
625,060 
Commercial real-estate |
Industrial |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
61 
0 
1,114 
Commercial real-estate |
Industrial |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
1,719 
3,758 
2,706 
Commercial real-estate |
Retail
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
4,975 
4,152 
9,540 
90+ days and still accruing
0 
0 
0 
Current
734,990 
723,919 
664,584 
Loans, net of unearned income, excluding covered loans
742,527 
731,488 
677,430 
Commercial real-estate |
Retail |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 
116 
217 
Commercial real-estate |
Retail |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
2,562 
3,301 
3,089 
Commercial real-estate |
Multi-family
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
1,750 
249 
1,327 
90+ days and still accruing
0 
0 
0 
Current
649,589 
603,323 
570,616 
Loans, net of unearned income, excluding covered loans
655,403 
605,742 
575,763 
Commercial real-estate |
Multi-family |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
393 
249 
0 
Commercial real-estate |
Multi-family |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
3,671 
1,921 
3,820 
Commercial real-estate |
Mixed use and other
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
8,872 
9,638 
6,546 
90+ days and still accruing
0 
0 
0 
Current
1,532,036 
1,443,853 
1,337,320 
Loans, net of unearned income, excluding covered loans
1,552,563 
1,465,117 
1,361,236 
Commercial real-estate |
Mixed use and other |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
808 
2,603 
6,626 
Commercial real-estate |
Mixed use and other |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
10,847 
9,023 
10,744 
Commercial real-estate |
PCI - commercial real estate
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 1
0 1
0 1
90+ days and still accruing
18,120 1
10,976 1
21,073 1
Current
40,671 1
34,327 1
45,571 1
Loans, net of unearned income, excluding covered loans
66,672 1 2
55,712 1 2
75,604 1 2
Commercial real-estate |
PCI - commercial real estate |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
4,639 1
6,393 1
2,791 1
Commercial real-estate |
PCI - commercial real estate |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
3,242 1
4,016 1
6,169 1
Home equity
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
7,665 
6,174 
7,311 
90+ days and still accruing
0 
0 
0 
Current
698,100 
705,623 
693,815 
Loans, net of unearned income, excluding covered loans
709,283 
716,293 
707,748 
Home equity |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
693 
983 
1,650 
Home equity |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
2,825 
3,513 
4,972 
Residential real-estate
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
495,925 
483,542 
426,769 
Residential real-estate |
Residential real estate
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
14,248 
15,502 
14,385 
90+ days and still accruing
0 
0 
0 
Current
469,826 
459,224 
403,474 
Loans, net of unearned income, excluding covered loans
493,562 
481,308 
423,694 
Residential real-estate |
Residential real estate |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
753 
267 
946 
Residential real-estate |
Residential real estate |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
8,735 
6,315 
4,889 
Residential real-estate |
PCI - residential real estate
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 1
0 1
0 1
90+ days and still accruing
266 1
549 1
1,414 1
Current
2,013 1
1,685 1
1,413 1
Loans, net of unearned income, excluding covered loans
2,363 1 2
2,234 1 2
3,075 1 2
Residential real-estate |
PCI - residential real estate |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 1
0 1
0 1
Residential real-estate |
PCI - residential real estate |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
84 1
0 1
248 1
Premium finance receivables
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,319,623 
2,350,833 
2,208,361 
Premium finance receivables |
Commercial insurance loans
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
15,902 
12,705 
14,517 
90+ days and still accruing
8,062 
7,665 
6,808 
Current
2,271,791 
2,307,140 
2,160,659 
Loans, net of unearned income, excluding covered loans
2,319,623 
2,350,833 
2,208,361 
Premium finance receivables |
Commercial insurance loans |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
4,476 
5,995 
5,600 
Premium finance receivables |
Commercial insurance loans |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
19,392 
17,328 
20,777 
Premium finance receivables |
Life insurance loans
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 
0 
0 
90+ days and still accruing
0 
0 
0 
Current
1,972,197 
1,870,669 
1,511,820 
Loans, net of unearned income, excluding covered loans
1,986,606 
1,884,092 
1,516,132 
Premium finance receivables |
Life insurance loans |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
8,994 
13,084 
0 
Premium finance receivables |
Life insurance loans |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
5,415 
339 
4,312 
Premium finance receivables |
PCI - life insurance loans
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
0 1
0 1
0 1
90+ days and still accruing
0 1
0 1
0 1
Current
389,048 1
393,479 1
413,202 1
Loans, net of unearned income, excluding covered loans
389,048 1 2
393,479 1 2
413,202 1 2
Premium finance receivables |
PCI - life insurance loans |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 1
0 1
0 1
Premium finance receivables |
PCI - life insurance loans |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
0 1
0 1
0 1
Consumer and other
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Nonaccrual
236 
277 
1,144 
90+ days and still accruing
91 
119 
105 
Current
129,084 
149,485 
157,464 
Loans, net of unearned income, excluding covered loans
130,156 
151,012 
159,496 
Consumer and other |
60-89 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
111 
293 
213 
Consumer and other |
30-59 days past due
 
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
 
Past Due
$ 634 
$ 838 
$ 570 
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Performance by Loan Class) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
$ 14,953,059 
$ 14,409,398 
$ 13,133,160 
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
14,871,287 
14,330,721 
13,043,036 
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
81,772 
78,677 
90,124 
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
4,211,932 
3,924,394 
3,439,197 
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
4,206,346 
3,914,763 
3,427,028 
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
5,586 
9,631 
12,169 
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
4,710,486 
4,505,753 
4,262,255 
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
4,680,504 
4,479,148 
4,228,522 
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
29,982 
26,605 
33,733 
Home equity
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
709,283 
716,293 
707,748 
Home equity |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
701,618 
710,119 
700,437 
Home equity |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
7,665 
6,174 
7,311 
Residential real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
495,925 
483,542 
426,769 
Premium finance receivables
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,319,623 
2,350,833 
2,208,361 
Consumer and other
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
130,156 
151,012 
159,496 
Consumer and other |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
129,829 
150,617 
158,295 
Consumer and other |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
327 
395 
1,201 
Commercial and industrial |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,484,465 
2,233,364 
1,995,309 
Commercial and industrial |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,478,879 
2,223,758 
1,983,810 
Commercial and industrial |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
5,586 
9,606 
11,499 
Franchise |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
225,762 
233,316 
221,101 
Franchise |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
225,762 
233,316 
221,101 
Franchise |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
Mortgage warehouse lines of credit |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
186,372 
139,003 
60,809 
Mortgage warehouse lines of credit |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
186,372 
139,003 
60,809 
Mortgage warehouse lines of credit |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
Community Advanatage - homeowners association |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
108,382 
106,364 
91,414 
Community Advanatage - homeowners association |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
108,382 
106,364 
91,414 
Community Advanatage - homeowners association |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
Aircraft |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
6,975 
8,065 
8,840 
Aircraft |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
6,975 
8,065 
8,840 
Aircraft |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
Asset-based lending |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
810,685 
806,402 
740,668 
Asset-based lending |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
810,685 
806,377 
739,998 
Asset-based lending |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
25 
670 
Tax exempt |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
205,195 
217,487 
177,973 
Tax exempt |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
205,195 
217,487 
177,973 
Tax exempt |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
Leases |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
172,014 
160,136 
121,986 
Leases |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
172,014 
160,136 
121,986 
Leases |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
Other |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,735 
11,034 
10,261 
Other |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,735 
11,034 
10,261 
Other |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
PCI - commercial |
Commercial
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
9,347 1 2
9,223 1 2
10,836 1 2
PCI - commercial |
Commercial |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
9,347 2
9,223 2
10,836 2
PCI - commercial |
Commercial |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 2
0 2
0 2
Residential construction |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
46,796 
38,696 
36,397 
Residential construction |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
46,796 
38,696 
36,397 
Residential construction |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
Commercial construction |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
210,031 
187,766 
151,630 
Commercial construction |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
210,031 
187,536 
150,786 
Commercial construction |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
230 
844 
Land |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
89,042 
91,830 
107,970 
Land |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
86,396 
89,174 
105,565 
Land |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,646 
2,656 
2,405 
Office |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
743,126 
705,432 
651,165 
Office |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
734,883 
698,144 
644,195 
Office |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
8,243 
7,288 
6,970 
Industrial |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
604,326 
623,970 
625,060 
Industrial |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
600,830 
621,578 
618,959 
Industrial |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
3,496 
2,392 
6,101 
Retail |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
742,527 
731,488 
677,430 
Retail |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
737,552 
727,336 
667,890 
Retail |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
4,975 
4,152 
9,540 
Multi-family |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
655,403 
605,742 
575,763 
Multi-family |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
653,653 
605,493 
574,436 
Multi-family |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
1,750 
249 
1,327 
Mixed use and other |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
1,552,563 
1,465,117 
1,361,236 
Mixed use and other |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
1,543,691 
1,455,479 
1,354,690 
Mixed use and other |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
8,872 
9,638 
6,546 
PCI - commercial real estate |
Commercial real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
66,672 1 2
55,712 1 2
75,604 1 2
PCI - commercial real estate |
Commercial real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
66,672 2
55,712 2
75,604 2
PCI - commercial real estate |
Commercial real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 2
0 2
0 2
Residential real estate |
Residential real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
493,562 
481,308 
423,694 
Residential real estate |
Residential real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
479,314 
465,806 
409,309 
Residential real estate |
Residential real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
14,248 
15,502 
14,385 
PCI - residential real estate |
Residential real-estate
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,363 1 2
2,234 1 2
3,075 1 2
PCI - residential real estate |
Residential real-estate |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,363 2
2,234 2
3,075 2
PCI - residential real estate |
Residential real-estate |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 2
0 2
0 2
Commercial insurance loans |
Premium finance receivables
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,319,623 
2,350,833 
2,208,361 
Commercial insurance loans |
Premium finance receivables |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
2,295,659 
2,330,463 
2,187,036 
Commercial insurance loans |
Premium finance receivables |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
23,964 
20,370 
21,325 
Life insurance loans |
Premium finance receivables
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
1,986,606 
1,884,092 
1,516,132 
Life insurance loans |
Premium finance receivables |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
1,986,606 
1,884,092 
1,516,132 
Life insurance loans |
Premium finance receivables |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
0 
0 
0 
PCI - life insurance loans |
Premium finance receivables
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
389,048 1 2
393,479 1 2
413,202 1 2
PCI - life insurance loans |
Premium finance receivables |
Performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
389,048 2
393,479 2
413,202 2
PCI - life insurance loans |
Premium finance receivables |
Non-performing
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans, net of unearned income, excluding covered loans
$ 0 2
$ 0 2
$ 0 2
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Activity in the Allowance for Credit Losses) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for loan losses at beginning of period
$ 91,705 
$ 96,922 
Other adjustments
(248)
(148)
Reclassification from allowance for unfunded lending-related commitments
(113)
(18)
Charge-offs
(4,271)
(9,017)
Recoveries
1,188 
1,232 
Provision for credit losses
6,185 
3,304 
Allowance for loan losses at period end
94,446 
92,275 
Allowance for unfunded lending-related commitments at period end
888 
737 
Allowance for credit losses at period end
95,334 
93,012 
Allowance for credit losses at period end, Individually evaluated for impairment
6,252 
8,294 
Allowance for credit losses at period end, Collectively evaluated for impairment
88,875 
84,559 
Loans at period end, Individually evaluated for impairment
113,651 
144,985 
Loans at period end, Collectively evaluated for impairment
14,371,978 
12,485,216 
Receivables Acquired with Deteriorated Credit Quality
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for credit losses at period end
207 
159 
Loans at period end, Loans acquired with deteriorated credit quality
467,430 
502,959 
Commercial
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for loan losses at beginning of period
31,699 
23,092 
Other adjustments
(17)
(15)
Reclassification from allowance for unfunded lending-related commitments
0 
0 
Charge-offs
(677)
(648)
Recoveries
370 
317 
Provision for credit losses
2,351 
1,943 
Allowance for loan losses at period end
33,726 
24,689 
Allowance for unfunded lending-related commitments at period end
0 
0 
Allowance for credit losses at period end
33,726 
24,689 
Allowance for credit losses at period end, Individually evaluated for impairment
1,814 
3,107 
Allowance for credit losses at period end, Collectively evaluated for impairment
31,912 
21,512 
Loans at period end, Individually evaluated for impairment
12,361 
18,350 
Loans at period end, Collectively evaluated for impairment
4,190,224 
3,410,011 
Commercial |
Receivables Acquired with Deteriorated Credit Quality
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for credit losses at period end
0 
70 
Loans at period end, Loans acquired with deteriorated credit quality
9,347 
10,836 
Commercial real-estate
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for loan losses at beginning of period
35,533 
48,658 
Other adjustments
(180)
(121)
Reclassification from allowance for unfunded lending-related commitments
(113)
(18)
Charge-offs
(1,005)
(4,493)
Recoveries
312 
145 
Provision for credit losses
2,455 
434 
Allowance for loan losses at period end
37,002 
44,605 
Allowance for unfunded lending-related commitments at period end
888 
737 
Allowance for credit losses at period end
37,890 
45,342 
Allowance for credit losses at period end, Individually evaluated for impairment
3,256 
4,041 
Allowance for credit losses at period end, Collectively evaluated for impairment
34,521 
41,301 
Loans at period end, Individually evaluated for impairment
75,886 
99,480 
Loans at period end, Collectively evaluated for impairment
4,567,928 
4,087,171 
Commercial real-estate |
Receivables Acquired with Deteriorated Credit Quality
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for credit losses at period end
113 
0 
Loans at period end, Loans acquired with deteriorated credit quality
66,672 
75,604 
Home equity
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for loan losses at beginning of period
12,500 
12,611 
Other adjustments
0 
(1)
Reclassification from allowance for unfunded lending-related commitments
0 
0 
Charge-offs
(584)
(2,267)
Recoveries
48 
257 
Provision for credit losses
700 
366 
Allowance for loan losses at period end
12,664 
10,966 
Allowance for unfunded lending-related commitments at period end
0 
0 
Allowance for credit losses at period end
12,664 
10,966 
Allowance for credit losses at period end, Individually evaluated for impairment
948 
596 
Allowance for credit losses at period end, Collectively evaluated for impairment
11,716 
10,370 
Loans at period end, Individually evaluated for impairment
7,879 
7,537 
Loans at period end, Collectively evaluated for impairment
701,404 
700,211 
Home equity |
Receivables Acquired with Deteriorated Credit Quality
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for credit losses at period end
0 
0 
Loans at period end, Loans acquired with deteriorated credit quality
0 
0 
Residential real-estate
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for loan losses at beginning of period
4,218 
5,108 
Other adjustments
(3)
(2)
Reclassification from allowance for unfunded lending-related commitments
0 
0 
Charge-offs
(631)
(226)
Recoveries
76 
131 
Provision for credit losses
436 
(320)
Allowance for loan losses at period end
4,096 
4,691 
Allowance for unfunded lending-related commitments at period end
0 
0 
Allowance for credit losses at period end
4,096 
4,691 
Allowance for credit losses at period end, Individually evaluated for impairment
208 
455 
Allowance for credit losses at period end, Collectively evaluated for impairment
3,794 
4,147 
Loans at period end, Individually evaluated for impairment
17,144 
18,026 
Loans at period end, Collectively evaluated for impairment
476,418 
405,668 
Residential real-estate |
Receivables Acquired with Deteriorated Credit Quality
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for credit losses at period end
94 
89 
Loans at period end, Loans acquired with deteriorated credit quality
2,363 
3,075 
Premium finance receivables
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for loan losses at beginning of period
6,513 
5,583 
Other adjustments
(48)
(9)
Reclassification from allowance for unfunded lending-related commitments
0 
0 
Charge-offs
(1,263)
(1,210)
Recoveries
329 
321 
Provision for credit losses
461 
897 
Allowance for loan losses at period end
5,992 
5,582 
Allowance for unfunded lending-related commitments at period end
0 
0 
Allowance for credit losses at period end
5,992 
5,582 
Allowance for credit losses at period end, Individually evaluated for impairment
0 
0 
Allowance for credit losses at period end, Collectively evaluated for impairment
5,992 
5,582 
Loans at period end, Individually evaluated for impairment
0 
0 
Loans at period end, Collectively evaluated for impairment
4,306,229 
3,724,493 
Premium finance receivables |
Receivables Acquired with Deteriorated Credit Quality
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for credit losses at period end
0 
0 
Loans at period end, Loans acquired with deteriorated credit quality
389,048 
413,202 
Consumer and other
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for loan losses at beginning of period
1,242 
1,870 
Other adjustments
0 
0 
Reclassification from allowance for unfunded lending-related commitments
0 
0 
Charge-offs
(111)
(173)
Recoveries
53 
61 
Provision for credit losses
(218)
(16)
Allowance for loan losses at period end
966 
1,742 
Allowance for unfunded lending-related commitments at period end
0 
0 
Allowance for credit losses at period end
966 
1,742 
Allowance for credit losses at period end, Individually evaluated for impairment
26 
95 
Allowance for credit losses at period end, Collectively evaluated for impairment
940 
1,647 
Loans at period end, Individually evaluated for impairment
381 
1,592 
Loans at period end, Collectively evaluated for impairment
129,775 
157,662 
Consumer and other |
Receivables Acquired with Deteriorated Credit Quality
 
 
Financing Receivable, Allowance for Credit Losses [Roll Forward]
 
 
Allowance for credit losses at period end
0 
0 
Loans at period end, Loans acquired with deteriorated credit quality
$ 0 
$ 242 
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Activity in the Allowance for Covered Loan Losses) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Allowance for Covered Loan Losses [Roll Forward]
 
 
Balance at beginning of period
$ 2,131 
$ 10,092 
Provision for covered loan losses before benefit attributable to FDIC loss share agreements
(529)
(7,121)
Benefit attributable to FDIC loss share agreements
423 
5,697 
Net provision for covered loan losses
(106)
(1,424)
Decrease in FDIC indemnification asset
(423)
(5,697)
Loans charged-off
(237)
(2,864)
Recoveries of loans charged-off
513 
3,340 
Net recoveries
276 
476 
Balance at end of period
$ 1,878 
$ 3,447 
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Impaired Loans, Including Restructured Loans) (Detail) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired loans with an allowance for loan loss required
$ 48,610,000 1
$ 69,487,000 1
$ 86,381,000 1
Impaired loans with no allowance for loan loss required
63,794,000 
57,925,000 
56,596,000 
Total impaired loans
112,404,000 2
127,412,000 2
142,977,000 2
Allowance for loan losses related to impaired loans
6,199,000 
6,270,000 
8,197,000 
Financing Receivable
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Allowance for loan losses related to impaired loans
866,000 
 
 
TDRs
$ 67,218,000 
$ 82,275,000 
$ 92,517,000 
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of Impaired Loans by Loan Class) (Detail) (USD $)
3 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
$ 48,610,000 1
$ 86,381,000 1
$ 69,487,000 1
Impaired Financing Receivable, Related Allowance
6,199,000 
8,197,000 
6,270,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
63,794,000 
56,596,000 
57,925,000 
Impaired Financing Receivable, Recorded Investment
112,404,000 2
142,977,000 2
127,412,000 2
Impaired Financing Receivable, Unpaid Principal Balance
136,169,000 
168,203,000 
153,742,000 
Impaired Financing Receivable, Average Recorded Investment
113,693,000 
145,257,000 
134,967,000 
Impaired Financing Receivable, Interest Income Recognized
1,588,000 
1,915,000 
7,190,000 
Commercial |
Commercial and industrial
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
7,230,000 
9,167,000 
9,989,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
7,830,000 
10,029,000 
10,785,000 
Impaired Financing Receivable, Related Allowance
1,795,000 
2,459,000 
1,915,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
7,465,000 
9,340,000 
10,784,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
92,000 
120,000 
539,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
4,630,000 
7,789,000 
5,797,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
7,595,000 
14,415,000 
8,862,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
4,647,000 
8,179,000 
6,664,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
125,000 
208,000 
595,000 
Commercial |
Franchise
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Commercial |
Mortgage warehouse lines of credit
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Commercial |
Community Advanatage - homeowners association
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Commercial |
Aircraft
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Commercial |
Asset-based lending
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
670,000 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
2,465,000 
0 
Impaired Financing Receivable, Related Allowance
0 
620,000 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
677,000 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
31,000 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
25,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
1,952,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
87,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
100,000 
Commercial |
Tax exempt
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Commercial |
Leases
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Commercial |
Other
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Commercial real-estate |
Residential construction
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
891,000 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
891,000 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
1,245,000 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
12,000 
0 
Commercial real-estate |
Commercial construction
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
3,099,000 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
3,099,000 
0 
Impaired Financing Receivable, Related Allowance
0 
24,000 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
3,099,000 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
28,000 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
2,645,000 
1,466,000 
2,875,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
2,645,000 
1,471,000 
3,085,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
2,645,000 
1,418,000 
3,183,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
30,000 
17,000 
151,000 
Commercial real-estate |
Land
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
4,475,000 
9,260,000 
5,011,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
8,090,000 
9,625,000 
8,626,000 
Impaired Financing Receivable, Related Allowance
29,000 
174,000 
43,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
4,734,000 
9,688,000 
5,933,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
127,000 
79,000 
544,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
5,134,000 
4,982,000 
10,210,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
5,868,000 
8,764,000 
10,941,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
5,137,000 
4,985,000 
10,268,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
62,000 
109,000 
430,000 
Commercial real-estate |
Office
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
8,354,000 
8,712,000 
11,038,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
11,053,000 
9,398,000 
12,863,000 
Impaired Financing Receivable, Related Allowance
598,000 
1,069,000 
305,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
8,399,000 
8,767,000 
11,567,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
131,000 
90,000 
576,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
6,890,000 
6,260,000 
4,132,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
6,965,000 
6,301,000 
5,020,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
6,971,000 
6,266,000 
4,445,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
77,000 
83,000 
216,000 
Commercial real-estate |
Industrial
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
1,402,000 
6,597,000 
195,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
1,487,000 
6,765,000 
277,000 
Impaired Financing Receivable, Related Allowance
559,000 
513,000 
15,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
1,406,000 
5,985,000 
214,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
20,000 
81,000 
13,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
2,772,000 
2,298,000 
4,160,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
3,134,000 
2,470,000 
4,498,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
2,837,000 
2,314,000 
3,807,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
55,000 
47,000 
286,000 
Commercial real-estate |
Retail
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
10,259,000 
12,763,000 
11,045,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
12,286,000 
12,903,000 
14,566,000 
Impaired Financing Receivable, Related Allowance
371,000 
826,000 
487,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
10,294,000 
12,819,000 
12,116,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
128,000 
132,000 
606,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
5,053,000 
10,419,000 
5,487,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
9,130,000 
12,273,000 
7,470,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
5,315,000 
11,006,000 
6,915,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
105,000 
140,000 
330,000 
Commercial real-estate |
Multi-family
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
2,266,000 
2,053,000 
2,808,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
2,363,000 
2,143,000 
3,321,000 
Impaired Financing Receivable, Related Allowance
241,000 
122,000 
158,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
2,273,000 
2,057,000 
2,839,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
26,000 
23,000 
145,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
777,000 
1,078,000 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
1,199,000 
2,013,000 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
778,000 
1,201,000 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
13,000 
23,000 
0 
Commercial real-estate |
Mixed use and other
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
7,891,000 
25,420,000 
21,777,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
10,041,000 
25,591,000 
24,076,000 
Impaired Financing Receivable, Related Allowance
1,449,000 
1,272,000 
2,240,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
7,907,000 
25,853,000 
21,483,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
116,000 
291,000 
1,017,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
17,479,000 
3,161,000 
7,985,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
17,723,000 
5,044,000 
8,804,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
17,688,000 
3,096,000 
9,533,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
185,000 
67,000 
449,000 
Home equity
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
2,807,000 
2,109,000 
1,946,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
2,962,000 
2,534,000 
2,055,000 
Impaired Financing Receivable, Related Allowance
948,000 
596,000 
475,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
2,809,000 
2,117,000 
1,995,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
29,000 
24,000 
80,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
5,072,000 
5,428,000 
4,453,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
6,771,000 
7,044,000 
6,172,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
5,126,000 
5,777,000 
4,666,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
70,000 
73,000 
256,000 
Residential real-estate
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
3,728,000 
6,222,000 
5,467,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
3,934,000 
6,362,000 
5,600,000 
Impaired Financing Receivable, Related Allowance
183,000 
427,000 
606,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
3,724,000 
6,094,000 
5,399,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
45,000 
68,000 
241,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
13,159,000 
11,541,000 
12,640,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
14,644,000 
14,427,000 
14,334,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
13,190,000 
11,699,000 
12,682,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
145,000 
137,000 
595,000 
Premium finance receivables |
Commercial insurance loans
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Premium finance receivables |
Life insurance loans
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Premium finance receivables |
PCI - life insurance loans
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, Related Allowance
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
0 
0 
0 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
0 
0 
0 
Consumer and other
 
 
 
Financing Receivable, Impaired [Line Items]
 
 
 
Impaired Financing Receivable, with Related Allowance, Recorded Investment
198,000 
309,000 
211,000 
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance
200,000 
367,000 
213,000 
Impaired Financing Receivable, Related Allowance
26,000 
95,000 
26,000 
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment
203,000 
290,000 
214,000 
Impaired Financing Receivable, with Related Allowance, Interest Income Recognized
4,000 
5,000 
10,000 
Impaired Financing Receivable, with No Related Allowance, Recorded Investment
183,000 
1,283,000 
161,000 
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance
249,000 
1,809,000 
222,000 
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment
145,000 
1,285,000 
173,000 
Impaired Financing Receivable, with No Related Allowance, Interest Income Recognized
$ 3,000 
$ 27,000 
$ 11,000 
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of the Post-Modification Balance of TDRs) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2015
contracts
Mar. 31, 2014
contracts
Mar. 31, 2015
contracts
Mar. 31, 2014
contracts
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
3 1 2
6 1 2
18 1 3
27 1 3
TDRs
$ 294 1 2
$ 5,245 1 2
$ 7,017 1 3
$ 25,648 1 3
Extension at Below Market Terms
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
3 1
5 1
 
 
TDRs
294 1
3,972 1
 
 
Reduction of Interest Rate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
2 1
3 1
 
 
TDRs
80 1
3,877 1
 
 
Modification to Interest Only Payments
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
1 1
3 1
 
 
TDRs
50 1
2,439 1
 
 
Forgiveness of Debt
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Residential real estate and other
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
3 1 2
0 1 2
9 1 3
6 1 3
TDRs
294 1 2
0 1 2
2,131 1 3
1,919 1 3
Residential real estate and other |
Extension at Below Market Terms
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
3 1
0 1
 
 
TDRs
294 1
0 1
 
 
Residential real estate and other |
Reduction of Interest Rate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
2 1
0 1
 
 
TDRs
80 1
0 1
 
 
Residential real estate and other |
Modification to Interest Only Payments
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
1 1
0 1
 
 
TDRs
50 1
0 1
 
 
Residential real estate and other |
Forgiveness of Debt
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Commercial and industrial |
Commercial
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1 2
1 1 2
1 1 3
1 1 3
TDRs
0 1 2
88 1 2
1,461 1 3
88 1 3
Commercial and industrial |
Commercial |
Extension at Below Market Terms
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
1 1
 
 
TDRs
0 1
88 1
 
 
Commercial and industrial |
Commercial |
Reduction of Interest Rate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Commercial and industrial |
Commercial |
Modification to Interest Only Payments
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
1 1
 
 
TDRs
0 1
88 1
 
 
Commercial and industrial |
Commercial |
Forgiveness of Debt
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Industrial |
Commercial real-estate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1 2
1 1 2
1 1 3
2 1 3
TDRs
0 1 2
1,078 1 2
685 1 3
2,027 1 3
Industrial |
Commercial real-estate |
Extension at Below Market Terms
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
1 1
 
 
TDRs
0 1
1,078 1
 
 
Industrial |
Commercial real-estate |
Reduction of Interest Rate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Industrial |
Commercial real-estate |
Modification to Interest Only Payments
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
1 1
 
 
TDRs
0 1
1,078 1
 
 
Industrial |
Commercial real-estate |
Forgiveness of Debt
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Retail |
Commercial real-estate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1 2
1 1 2
0 1 3
1 1 3
TDRs
0 1 2
202 1 2
0 1 3
202 1 3
Retail |
Commercial real-estate |
Extension at Below Market Terms
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
1 1
 
 
TDRs
0 1
202 1
 
 
Retail |
Commercial real-estate |
Reduction of Interest Rate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Retail |
Commercial real-estate |
Modification to Interest Only Payments
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Retail |
Commercial real-estate |
Forgiveness of Debt
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
0 1
0 1
 
 
Mixed use and other |
Commercial real-estate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1 2
3 1 2
4 1 3
9 1 3
TDRs
0 1 2
3,877 1 2
1,049 1 3
8,919 1 3
Mixed use and other |
Commercial real-estate |
Extension at Below Market Terms
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
2 1
 
 
TDRs
0 1
2,604 1
 
 
Mixed use and other |
Commercial real-estate |
Reduction of Interest Rate
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
3 1
 
 
TDRs
0 1
3,877 1
 
 
Mixed use and other |
Commercial real-estate |
Modification to Interest Only Payments
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
1 1
 
 
TDRs
0 1
1,273 1
 
 
Mixed use and other |
Commercial real-estate |
Forgiveness of Debt
 
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
 
TDRs, number
0 1
0 1
 
 
TDRs
$ 0 1
$ 0 1
 
 
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Summary of TDRs Subsequent Default Under the Restructured Terms) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2015
contracts
Mar. 31, 2014
contracts
Mar. 31, 2015
contracts
Mar. 31, 2014
contracts
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
3 1 2
6 1 2
18 1 3
27 1 3
Total, Balance
$ 294 1 2
$ 5,245 1 2
$ 7,017 1 3
$ 25,648 1 3
Subsequent Default, Count
7 1 4
8 1 4
 
 
Subsequent Default, Balance
2,048 1 4
9,984 1 4
 
 
Commercial |
Commercial and industrial
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
0 1 2
1 1 2
1 1 3
1 1 3
Total, Balance
0 1 2
88 1 2
1,461 1 3
88 1 3
Subsequent Default, Count
0 1 4
0 1 4
 
 
Subsequent Default, Balance
0 1 4
0 1 4
 
 
Commercial real-estate |
Commercial construction
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
 
 
0 1 3
3 1 3
Total, Balance
 
 
0 1 3
6,120 1 3
Subsequent Default, Count
0 1 4
3 1 4
 
 
Subsequent Default, Balance
0 1 4
6,120 1 4
 
 
Commercial real-estate |
Land
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
 
 
0 1 3
1 1 3
Total, Balance
 
 
0 1 3
2,352 1 3
Subsequent Default, Count
0 1 4
0 1 4
 
 
Subsequent Default, Balance
0 1 4
0 1 4
 
 
Commercial real-estate |
Office
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
 
 
2 1 3
4 1 3
Total, Balance
 
 
1,510 1 3
4,021 1 3
Subsequent Default, Count
1 1 4
3 1 4
 
 
Subsequent Default, Balance
790 1 4
3,465 1 4
 
 
Commercial real-estate |
Industrial
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
0 1 2
1 1 2
1 1 3
2 1 3
Total, Balance
0 1 2
1,078 1 2
685 1 3
2,027 1 3
Subsequent Default, Count
0 1 4
0 1 4
 
 
Subsequent Default, Balance
0 1 4
0 1 4
 
 
Commercial real-estate |
Retail
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
0 1 2
1 1 2
0 1 3
1 1 3
Total, Balance
0 1 2
202 1 2
0 1 3
202 1 3
Subsequent Default, Count
0 1 4
0 1 4
 
 
Subsequent Default, Balance
0 1 4
0 1 4
 
 
Commercial real-estate |
Multi-family
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
 
 
1 1 3
0 1 3
Total, Balance
 
 
181 1 3
0 1 3
Subsequent Default, Count
1 1 4
0 1 4
 
 
Subsequent Default, Balance
181 1 4
0 1 4
 
 
Commercial real-estate |
Mixed use and other
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
0 1 2
3 1 2
4 1 3
9 1 3
Total, Balance
0 1 2
3,877 1 2
1,049 1 3
8,919 1 3
Subsequent Default, Count
3 1 4
2 1 4
 
 
Subsequent Default, Balance
816 1 4
399 1 4
 
 
Residential real estate and other
 
 
 
 
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
 
 
 
 
Total, Count
3 1 2
0 1 2
9 1 3
6 1 3
Total, Balance
294 1 2
0 1 2
2,131 1 3
1,919 1 3
Subsequent Default, Count
2 1 4
0 1 4
 
 
Subsequent Default, Balance
$ 261 1 4
$ 0 1 4
 
 
Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Narrative) (Detail) (USD $)
3 Months Ended 12 Months Ended
Mar. 31, 2015
contracts
Mar. 31, 2014
contracts
Mar. 31, 2015
contracts
Mar. 31, 2014
contracts
Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
 
 
 
 
 
TDRs, number
3 1 2
6 1 2
18 1 3
27 1 3
 
Allowance for loan losses related to impaired loans
$ 6,199,000 
$ 8,197,000 
$ 6,199,000 
$ 8,197,000 
$ 6,270,000 
TDRs
294,000 1 2
5,245,000 1 2
7,017,000 1 3
25,648,000 1 3
 
Weighted average extension term
17 months 
13 months 
 
 
 
Weighted average stated interest rate, basis points
1.80% 
1.76% 
 
 
 
Weighted average interest only term
24 months 
9 months 
 
 
 
Loan forgiveness
0 
0 
 
 
 
Modification to Interest Only Payments
 
 
 
 
 
Financing Receivable, Allowance for Credit Losses [Line Items]
 
 
 
 
 
TDRs, number
1 1
3 1
 
 
 
TDRs
50,000 1
2,439,000 1
 
 
 
Financing Receivable
 
 
 
 
 
Financing Receivable, Allowance for Credit Losses [Line Items]
 
 
 
 
 
Restructured loans
67,218,000 
92,517,000 
67,218,000 
92,517,000 
82,275,000 
TDRs, number
125 
 
 
 
 
Allowance for loan losses related to impaired loans
866,000 
 
866,000 
 
 
Interest income, passage of time
193,000 
132,000 
 
 
 
Residential Real Estate [Member] |
Financing Receivable
 
 
 
 
 
Financing Receivable, Allowance for Credit Losses [Line Items]
 
 
 
 
 
Repossessed Assets
$ 9,900,000 
 
$ 9,900,000 
 
 
Goodwill And Other Intangible Assets (Goodwill Assets by Business Segment) (Detail) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Goodwill [Roll Forward]
 
 
Beginning balance
$ 405,634,000 
$ 373,725,000 
Goodwill Acquired
16,718,000 
 
Impairment Loss
0 
 
Goodwill Adjustments
(2,155,000)
 
Ending balance
420,197,000 
373,725,000 
Community banking
 
 
Goodwill [Roll Forward]
 
 
Beginning balance
331,752,000 
 
Goodwill Acquired
16,718,000 
 
Impairment Loss
0 
 
Goodwill Adjustments
0 
 
Ending balance
348,470,000 
 
Specialty finance
 
 
Goodwill [Roll Forward]
 
 
Beginning balance
41,768,000 
 
Goodwill Acquired
0 
 
Impairment Loss
0 
 
Goodwill Adjustments
(2,155,000)
 
Ending balance
39,613,000 
 
Wealth management
 
 
Goodwill [Roll Forward]
 
 
Beginning balance
32,114,000 
 
Goodwill Acquired
0 
 
Impairment Loss
0 
 
Goodwill Adjustments
0 
 
Ending balance
$ 32,114,000 
 
Goodwill And Other Intangible Assets (Summary of Finite-Lived Intangible Assets) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Finite-Lived Intangible Assets [Line Items]
 
 
 
Total other intangible assets, net
$ 18,858 
$ 18,811 
$ 18,050 
Core deposit intangibles |
Community banking
 
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
 
Gross carrying amount
25,881 
29,379 
40,770 
Accumulated amortization
(14,192)
(17,879)
(30,209)
Net carrying amount
11,689 
11,500 
10,561 
Customer list intangibles |
Specialty finance
 
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
 
Gross carrying amount
1,800 
1,800 
1,800 
Accumulated amortization
(971)
(941)
(842)
Net carrying amount
829 
859 
958 
Customer list and other intangibles |
Wealth management
 
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
 
Gross carrying amount
7,940 
7,940 
7,690 
Accumulated amortization
(1,600)
(1,488)
(1,159)
Net carrying amount
$ 6,340 
$ 6,452 
$ 6,531 
Goodwill And Other Intangible Assets (Estimated Amortization) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
 
 
Actual in three months ended March 31, 2015
$ 1,013 
$ 1,163 
Estimated remaining in 2015
2,700 
 
Estimated—2016
3,007 
 
Estimated—2017
2,499 
 
Estimated—2018
2,186 
 
Estimated—2019
$ 1,837 
 
Goodwill And Other Intangible Assets (Narrative) (Detail) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Indefinite-lived Intangible Assets [Line Items]
 
 
Amortization of other intangible assets
$ 1,013,000 
$ 1,163,000 
Community banking
 
 
Indefinite-lived Intangible Assets [Line Items]
 
 
Goodwill increase or decrease in the period
16,700,000 
 
Community banking |
Core deposit intangibles
 
 
Indefinite-lived Intangible Assets [Line Items]
 
 
Amortization period in years, core deposit intangibles
10 years 
 
Specialty finance
 
 
Indefinite-lived Intangible Assets [Line Items]
 
 
Goodwill increase or decrease in the period
$ 2,200,000 
 
Specialty finance |
Customer list intangibles
 
 
Indefinite-lived Intangible Assets [Line Items]
 
 
Amortization period in years, core deposit intangibles
18 years 
 
Wealth management |
Customer list intangibles
 
 
Indefinite-lived Intangible Assets [Line Items]
 
 
Amortization period in years, core deposit intangibles
10 years 
 
Deposits Deposits (Summary of Deposits) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Balance:
 
 
 
Non-interest bearing
$ 3,779,609 
$ 3,518,685 
$ 2,773,922 
NOW and interest bearing demand deposits
2,262,928 
2,236,089 
1,983,251 
Wealth management deposits
1,528,963 
1,226,916 
1,289,134 
Money market
3,791,762 
3,651,467 
3,454,271 
Savings
1,563,752 
1,508,877 
1,443,943 
Time certificates of deposit
4,011,755 
4,139,810 
4,184,524 
Total deposits
$ 16,938,769 
$ 16,281,844 
$ 15,129,045 
Mix:
 
 
 
Non-interest bearing
22.00% 
22.00% 
18.00% 
NOW and interest bearing demand deposits
13.00% 
14.00% 
13.00% 
Wealth management deposits
9.00% 
8.00% 
8.00% 
Money market
23.00% 
22.00% 
23.00% 
Savings
9.00% 
9.00% 
10.00% 
Time certificates of deposit
24.00% 
25.00% 
28.00% 
Total deposits
100.00% 
100.00% 
100.00% 
Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes (Summary of Debt) (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Debt Disclosure [Abstract]
 
 
 
Federal Home Loan Bank advances
$ 416,036 
$ 733,050 
$ 387,672 
Other borrowings:
 
 
 
Notes payable
0 
0 
182 
Securities sold under repurchase agreements
50,076 
48,566 
211,692 
Other
18,689 
18,822 
19,212 
Secured borrowings
118,241 
129,077 
0 
Total other borrowings
187,006 
196,465 
231,086 
Subordinated notes
140,000 
140,000 
0 
Total Federal Home Loan Bank advances, other borrowings and subordinated notes
$ 743,042 
$ 1,069,515 
$ 618,758 
Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes Federal Home Loan Bank Advances, Other Borrowings and Subordinated Notes (Narrative) (Details) (USD $)
1 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
Dec. 31, 2014
Jun. 30, 2014
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Unsecured Debt
Mar. 31, 2014
Unsecured Debt
Mar. 31, 2015
Loans Payable
Mar. 31, 2014
Loans Payable
Dec. 31, 2014
Loans Payable
Dec. 15, 2014
Revolving Credit Facility
Mar. 31, 2015
Revolving Credit Facility
Rate
Sep. 30, 2013
Revolving Credit Facility
Nov. 6, 2014
Revolving Credit Facility
Mar. 31, 2014
Revolving Credit Facility
Sep. 30, 2013
Notes Payable to Banks
Dec. 31, 2013
Notes Payable to Banks
Mar. 31, 2015
Term Facility
Mar. 31, 2015
Securities Sold under Agreements to Repurchase
Dec. 31, 2014
Securities Sold under Agreements to Repurchase
Mar. 31, 2014
Securities Sold under Agreements to Repurchase
Mar. 31, 2014
Borrowings From Banks And Brokers
Mar. 31, 2015
Fixed Rate Promissory Note
Dec. 31, 2014
Fixed Rate Promissory Note
Mar. 31, 2014
Fixed Rate Promissory Note
Mar. 31, 2015
Secured Debt
Mar. 31, 2015
Subordinated Debt
Mar. 31, 2014
Federal Funds Rate
Unsecured Debt
Mar. 31, 2015
Base Rate Loan
Federal Funds Rate
Mar. 31, 2015
Base Rate Loan
Base Rate
Revolving Credit Facility
Mar. 31, 2015
Base Rate Loan
Base Rate
Term Facility
Mar. 31, 2015
Base Rate Loan
Eurodollar Rate
Mar. 31, 2015
Eurodollar Rate Loan
London Interbank Offered Rate (LIBOR)
Revolving Credit Facility
Mar. 31, 2015
Eurodollar Rate Loan
London Interbank Offered Rate (LIBOR)
Term Facility
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes payable
$ 0 
 
$ 0 
$ 182,000 
 
$ 182,000 
$ 0 
$ 0 
$ 0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt instrument, Frequency of periodic payment
 
 
 
 
quarterly 
 
 
 
 
 
quarterly 
 
 
 
 
 
quarterly 
 
 
 
 
monthly 
 
 
 
 
 
 
 
 
 
 
 
Basis spread on variable rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.00% 
0.50% 
0.50% 
0.75% 
1.00% 
1.50% 
1.75% 
Loan agreement with unaffiliated banks
 
 
150,000,000 
101,000,000 
 
 
 
 
 
 
 
 
 
 
 
1,000,000 
75,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maximum borrowing capacity
 
 
 
 
 
 
 
 
 
 
75,000,000 
 
 
100,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturity date
 
 
 
 
 
 
 
 
 
Dec. 15, 2014 
Dec. 14, 2015 
Oct. 25, 2013 
Nov. 06, 2014 
 
Jun. 01, 2015 
 
Jun. 15, 2020 
 
 
 
 
Sep. 01, 2017 
 
 
 
Jun. 13, 2024 
 
 
 
 
 
 
 
Debt instrument, Issuance date
 
 
 
 
 
 
Dec. 15, 2014 
Oct. 30, 2009 
 
 
 
 
 
 
 
 
 
 
 
 
 
Aug. 31, 2012 
 
 
 
 
 
 
 
 
 
 
 
Repayments of debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt instrument, Date of first required payment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sep. 30, 2015 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of credit facility, Unused capacity, Commitment fee percentage
 
 
 
 
 
 
 
 
 
 
0.20% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities sold under repurchase agreements
48,566,000 
 
50,076,000 
211,692,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
50,100,000 
48,600,000 
31,700,000 
180,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
Pledged financial instruments, Not separately reported, Securities for repurchase agreements
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
78,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net credit exposure repurchase agreements
 
 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed rate promissory note
18,822,000 
 
18,689,000 
19,212,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18,700,000 
18,800,000 
19,200,000 
 
 
 
 
 
 
 
 
 
Contractual rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3.75% 
 
 
1.6093% 
5.00% 
 
 
 
 
 
 
 
Proceeds from issuance of debt
150,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured borrowings
129,077,000 
 
118,241,000 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Subordinated notes
140,000,000 
 
140,000,000 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Subordinated debt issued, gross
 
140,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proceeds from issuance of subordinated notes, net
 
$ 139,100,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Junior Subordinated Debentures Junior Subordinated Debentures (Summary Of The Company's Junior Subordinated Debentures) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Mar. 31, 2015
Wintrust Capital Trust III
Rate
Mar. 31, 2015
Wintrust Statutory Trust IV
Rate
Mar. 31, 2015
Wintrust Statutory Trust V
Rate
Mar. 31, 2015
Wintrust Capital Trust VII
Rate
Mar. 31, 2015
Wintrust Capital Trust VIII
Rate
Mar. 31, 2015
Wintrust Capital Trust IX
Rate
Mar. 31, 2015
Northview Capital Trust I
Rate
Mar. 31, 2015
Town Bankshares Capital Trust I
Rate
Mar. 31, 2015
First Northwest Capital Trust I
Rate
Mar. 31, 2015
Junior Subordinated Debt
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
Wintrust Capital Trust III
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
Wintrust Statutory Trust IV
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
Wintrust Statutory Trust V
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
Wintrust Capital Trust VII
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
Wintrust Capital Trust VIII
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
Wintrust Capital Trust IX
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
Northview Capital Trust I
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
Town Bankshares Capital Trust I
Rate
Mar. 31, 2015
London Interbank Offered Rate (LIBOR)
First Northwest Capital Trust I
Rate
Subordinated Borrowing [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common Securities
 
 
 
$ 774 
$ 619 
$ 1,238 
$ 1,550 
$ 1,238 
$ 1,547 
$ 186 
$ 186 
$ 155 
 
 
 
 
 
 
 
 
 
 
Trust Preferred Securities
 
 
 
25,000 
20,000 
40,000 
50,000 
40,000 
50,000 
6,000 
6,000 
5,000 
 
 
 
 
 
 
 
 
 
 
Junior subordinated debentures
$ 249,493 
$ 249,493 
$ 249,493 
$ 25,774 
$ 20,619 
$ 41,238 
$ 51,550 
$ 41,238 
$ 51,547 
$ 6,186 
$ 6,186 
$ 5,155 
 
 
 
 
 
 
 
 
 
 
Rate Structure
 
 
 
L+3.25 
L+2.80 
L+2.60 
L+1.95 
L+1.45 
L+1.63 
L+3.00 
L+3.00 
L+3.00 
 
 
 
 
 
 
 
 
 
 
Contractual rate
 
 
 
3.51% 
3.08% 
2.88% 
2.22% 
1.73% 
1.90% 
3.25% 
3.25% 
3.28% 
 
 
 
 
 
 
 
 
 
 
Debt, weighted average interest rate
 
 
 
 
 
 
 
 
 
 
 
 
2.46% 
 
 
 
 
 
 
 
 
 
Incremental interest rate over base rate
 
 
 
 
 
 
 
 
 
 
 
 
 
3.25% 
2.80% 
2.60% 
1.95% 
1.45% 
1.63% 
3.00% 
3.00% 
3.00% 
Issue Date
 
 
 
Apr. 30, 2003 
Dec. 31, 2003 
May 31, 2004 
Dec. 31, 2004 
Aug. 31, 2005 
Sep. 30, 2006 
Aug. 31, 2003 
Aug. 31, 2003 
May 31, 2004 
 
 
 
 
 
 
 
 
 
 
Maturity Date
 
 
 
Apr. 30, 2033 
Dec. 31, 2033 
May 31, 2034 
Mar. 31, 2035 
Sep. 30, 2035 
Sep. 30, 2036 
Nov. 30, 2033 
Nov. 30, 2033 
May 31, 2034 
 
 
 
 
 
 
 
 
 
 
Earliest Redemption Date
 
 
 
Apr. 30, 2008 
Dec. 31, 2008 
Jun. 30, 2009 
Mar. 31, 2010 
Sep. 30, 2010 
Sep. 30, 2011 
Aug. 31, 2008 
Aug. 31, 2008 
May 31, 2009 
 
 
 
 
 
 
 
 
 
 
Junior Subordinated Debentures (Narrative) (Details) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Subordinated Borrowing [Line Items]
 
 
 
Percentage ownership interest in subsidiary trusts
100.00% 
 
 
Common securities, approximate percentage of junior subordinated debentures
3.00% 
 
 
Trust preferred securities, approximate percentage of junior subordinated debentures
97.00% 
 
 
Junior subordinated debentures
$ 249,493,000 
$ 249,493,000 
$ 249,493,000 
Consecutive quarters of deferred payment
20 
 
 
Junior Subordinated Debt
 
 
 
Subordinated Borrowing [Line Items]
 
 
 
Debt, weighted average interest rate
2.46% 
 
 
Debt, Hedge Adjusted Weighted Average Interest Rate
3.22% 
 
 
Tier One Risk Based Capital
60,500,000 
 
 
Tier Two Risk Based Capital
181,500,000 
 
 
Cash Flow Hedge of Junior Subordinated Debentures |
Cash Flow Hedging |
Designated as Hedging Instrument |
Interest Rate Swaps and Caps
 
 
 
Subordinated Borrowing [Line Items]
 
 
 
Notional amount
$ 225,000,000 
 
 
Segment Information (Summary of Segment Information) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Segment Reporting Information [Line Items]
 
 
 
Total net interest income
$ 151,891 
$ 144,006 
 
Total net interest income, Change in Contribution
7,885 
 
 
Total net interest income, Change in Contribution Percentage
5.00% 
 
 
Total non-interest income
64,541 
45,529 
 
Total non-interest income, Change in Contribution
19,012 
 
 
Total non-interest income, Change in Contribution Percentage
42.00% 
 
 
Total net revenue
216,432 
189,535 
 
Total net revenue, Change in Contribution
26,897 
 
 
Total net revenue, Change in Contribution Percentage
14.00% 
 
 
Net income
39,052 
34,500 
 
Total segment profit, Change in Contribution
4,552 
 
 
Total segment profit, Change in Contribution Percentage
13.00% 
 
 
Total assets
20,382,271 
18,221,163 
20,010,727 
Total segment assets, Change in Contribution
2,161,108 
 
 
Total segment assets, Change in Contribution Percentage
12.00% 
 
 
Operating Segments
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Total net interest income
147,916 
140,066 
 
Total net interest income, Change in Contribution
7,850 
 
 
Total net interest income, Change in Contribution Percentage
6.00% 
 
 
Total non-interest income
71,511 
52,141 
 
Total non-interest income, Change in Contribution
19,370 
 
 
Total non-interest income, Change in Contribution Percentage
37.00% 
 
 
Total net revenue
219,427 
192,207 
 
Total net revenue, Change in Contribution
27,220 
 
 
Total net revenue, Change in Contribution Percentage
14.00% 
 
 
Operating Segments |
Community banking
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Total net interest income
122,681 
116,755 
 
Total net interest income, Change in Contribution
5,926 
 
 
Total net interest income, Change in Contribution Percentage
5.00% 
 
 
Total non-interest income
44,912 
27,319 
 
Total non-interest income, Change in Contribution
17,593 
 
 
Total non-interest income, Change in Contribution Percentage
64.00% 
 
 
Total net revenue
167,593 
144,074 
 
Total net revenue, Change in Contribution
23,519 
 
 
Total net revenue, Change in Contribution Percentage
16.00% 
 
 
Net income
24,965 
22,581 
 
Total segment profit, Change in Contribution
2,384 
 
 
Total segment profit, Change in Contribution Percentage
11.00% 
 
 
Total assets
17,050,262 
15,160,507 
 
Total segment assets, Change in Contribution
1,889,755 
 
 
Total segment assets, Change in Contribution Percentage
12.00% 
 
 
Operating Segments |
Specialty finance
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Total net interest income
21,046 
19,212 
 
Total net interest income, Change in Contribution
1,834 
 
 
Total net interest income, Change in Contribution Percentage
10.00% 
 
 
Total non-interest income
7,871 
7,881 
 
Total non-interest income, Change in Contribution
(10)
 
 
Total non-interest income, Change in Contribution Percentage
0.00% 
 
 
Total net revenue
28,917 
27,093 
 
Total net revenue, Change in Contribution
1,824 
 
 
Total net revenue, Change in Contribution Percentage
7.00% 
 
 
Net income
10,952 
8,982 
 
Total segment profit, Change in Contribution
1,970 
 
 
Total segment profit, Change in Contribution Percentage
22.00% 
 
 
Total assets
2,784,069 
2,532,362 
 
Total segment assets, Change in Contribution
251,707 
 
 
Total segment assets, Change in Contribution Percentage
10.00% 
 
 
Operating Segments |
Wealth management
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Total net interest income
4,189 
4,099 
 
Total net interest income, Change in Contribution
90 
 
 
Total net interest income, Change in Contribution Percentage
2.00% 
 
 
Total non-interest income
18,728 
16,941 
 
Total non-interest income, Change in Contribution
1,787 
 
 
Total non-interest income, Change in Contribution Percentage
11.00% 
 
 
Total net revenue
22,917 
21,040 
 
Total net revenue, Change in Contribution
1,877 
 
 
Total net revenue, Change in Contribution Percentage
9.00% 
 
 
Net income
3,135 
2,937 
 
Total segment profit, Change in Contribution
198 
 
 
Total segment profit, Change in Contribution Percentage
7.00% 
 
 
Total assets
547,940 
528,294 
 
Total segment assets, Change in Contribution
19,646 
 
 
Total segment assets, Change in Contribution Percentage
4.00% 
 
 
Intersegment Eliminations
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Total net interest income
3,975 
3,940 
 
Total net interest income, Change in Contribution
35 
 
 
Total net interest income, Change in Contribution Percentage
1.00% 
 
 
Total non-interest income
(6,970)
(6,612)
 
Total non-interest income, Change in Contribution
(358)
 
 
Total non-interest income, Change in Contribution Percentage
(5.00%)
 
 
Total net revenue
(2,995)
(2,672)
 
Total net revenue, Change in Contribution
$ (323)
 
 
Total net revenue, Change in Contribution Percentage
(12.00%)
 
 
Derivative Financial Instruments Derivative Financial Instruments (Interest Rate Cap Derivative Summary) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Interest Rate Cap Seventy Seven Million Notional May Two Thousand Fifteen Maturity |
Not Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
$ 77,000 
Fair Value as of End of Period
0 
Interest Rate Cap Two Hundred Fifteen Million Notional May Two Thousand Sixteen Maturity |
Not Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
215,000 
Fair Value as of End of Period
17 
Interest Rate Cap Ninety Six Million Five Hundred Thirty Thousand Notional April Two Thousand Fifteen Maturity |
Not Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
96,530 
Fair Value as of End of Period
0 
Interest Rate Cap Fifty Six Million Five Hundred Thousand Notional August Two Thousand Sixteen Maturity |
Not Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
56,500 
Fair Value as of End of Period
34 
Interest Rate Cap One Hundred Million Notional March Two Thousand Seventeen Maturity |
Not Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
100,000 
Fair Value as of End of Period
275 
Interest Rate Cap Seventy Five Million Notional November Two Thousand Sixteen Maturity |
Not Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
75,000 
Fair Value as of End of Period
95 
Total Interest Rate Cap
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
970,030 
Fair Value as of End of Period
1,089 
Cash Flow Hedging |
Interest Rate Cap Two Hundred Sixteen Million Five Hundred Thousand Notional August Two Thousand Sixteen Maturity |
Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
216,500 
Fair Value as of End of Period
89 
Cash Flow Hedging |
Interest Rate Cap Forty Three Million Five Hundred Thousand Notional August Two Thousand Sixteen Maturity |
Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
43,500 
Fair Value as of End of Period
26 
Cash Flow Hedging |
Interest Rate Cap Fifty Million Notional September Two Thousand Seventeen Maturity |
Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
50,000 
Fair Value as of End of Period
299 
Cash Flow Hedging |
Interest Rate Cap Forty Million Notional September Two Thousand Seventeen Maturity |
Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
40,000 
Fair Value as of End of Period
254 
Cash Flow Hedging |
Total Interest Rate Cap |
Designated as Hedging Instrument
 
Interest Rate Cap Derivative Summary [Line Items]
 
Notional amount
350,000 
Fair Value as of End of Period
$ 668 
Derivative Financial Instruments Derivative Financial Instruments (Schedule Of Fair Value Of Derivative Financial Instruments) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
$ 47,550 
$ 37,841 
$ 37,239 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
47,698 
36,921 
34,990 
Other Assets
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
62,984 
47,964 
51,529 
Other Assets |
Designated as Hedging Instrument
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
688 
1,442 
2,668 
Other Assets |
Designated as Hedging Instrument |
Interest Rate Contract |
Cash Flow Hedging
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
668 
1,390 
2,578 
Other Assets |
Designated as Hedging Instrument |
Interest Rate Contract |
Fair Value Hedging
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
20 
52 
90 
Other Assets |
Not Designated as Hedging Instrument
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
62,296 
46,522 
48,861 
Other Assets |
Not Designated as Hedging Instrument |
Interest Rate Contract
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
46,862 
36,399 
34,571 
Other Assets |
Not Designated as Hedging Instrument |
Interest Rate Lock Commitments
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
15,296 
10,028 
13,658 
Other Assets |
Not Designated as Hedging Instrument |
Forward Commitments to Sell Mortgage Loans
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
0 
23 
625 
Other Assets |
Not Designated as Hedging Instrument |
Foreign Exchange Contract
 
 
 
Derivative [Line Items]
 
 
 
Derivative Assets, Fair Value, Amount not Offset Against Collateral
138 
72 
7 
Other Liabilities
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
55,225 
41,180 
37,797 
Other Liabilities |
Designated as Hedging Instrument
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
1,867 
1,994 
2,893 
Other Liabilities |
Designated as Hedging Instrument |
Interest Rate Contract |
Cash Flow Hedging
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
1,867 
1,994 
2,892 
Other Liabilities |
Designated as Hedging Instrument |
Interest Rate Contract |
Fair Value Hedging
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
0 
0 
1 
Other Liabilities |
Not Designated as Hedging Instrument
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
53,358 
39,186 
34,904 
Other Liabilities |
Not Designated as Hedging Instrument |
Interest Rate Contract
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
45,831 
34,927 
32,097 
Other Liabilities |
Not Designated as Hedging Instrument |
Interest Rate Lock Commitments
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
0 
20 
115 
Other Liabilities |
Not Designated as Hedging Instrument |
Forward Commitments to Sell Mortgage Loans
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
7,410 
4,239 
2,688 
Other Liabilities |
Not Designated as Hedging Instrument |
Foreign Exchange Contract
 
 
 
Derivative [Line Items]
 
 
 
Derivative Liabilities, Fair Value, Amount Not Offset Against Collateral
$ 117 
$ 0 
$ 4 
Derivative Financial Instruments Derivative Financial Instruments (Schedule Of Cash Flow Hedging Instruments) (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Total Interest Rate Cap
 
Derivative [Line Items]
 
Notional amount
$ 970,030 
Fair Value Asset (Liability)
1,089 
Cash Flow Hedging |
Designated as Hedging Instrument |
Interest Rate Swap Fifty Million Notional September Two Thousand Sixteen Maturity [Member]
 
Derivative [Line Items]
 
Notional amount
50,000 
Fair Value Asset (Liability)
(1,222)
Cash Flow Hedging |
Designated as Hedging Instrument |
Interest Rate Swap Twenty Five Million Notional October Two Thousand Sixteen Maturity [Member]
 
Derivative [Line Items]
 
Notional amount
25,000 
Fair Value Asset (Liability)
(645)
Cash Flow Hedging |
Designated as Hedging Instrument |
Total Interest Rate Swap [Member]
 
Derivative [Line Items]
 
Notional amount
75,000 
Fair Value Asset (Liability)
(1,867)
Cash Flow Hedging |
Designated as Hedging Instrument |
Interest Rate Cap Forty Three Million Five Hundred Thousand Notional August Two Thousand Sixteen Maturity
 
Derivative [Line Items]
 
Notional amount
43,500 
Fair Value Asset (Liability)
26 
Cash Flow Hedging |
Designated as Hedging Instrument |
Interest Rate Cap Two Hundred Sixteen Million Five Hundred Thousand Notional August Two Thousand Sixteen Maturity
 
Derivative [Line Items]
 
Notional amount
216,500 
Fair Value Asset (Liability)
89 
Cash Flow Hedging |
Designated as Hedging Instrument |
Interest Rate Cap Fifty Million Notional September Two Thousand Seventeen Maturity
 
Derivative [Line Items]
 
Notional amount
50,000 
Fair Value Asset (Liability)
299 
Cash Flow Hedging |
Designated as Hedging Instrument |
Interest Rate Cap Forty Million Notional September Two Thousand Seventeen Maturity
 
Derivative [Line Items]
 
Notional amount
40,000 
Fair Value Asset (Liability)
254 
Cash Flow Hedging |
Designated as Hedging Instrument |
Total Interest Rate Cap
 
Derivative [Line Items]
 
Notional amount
350,000 
Fair Value Asset (Liability)
668 
Cash Flow Hedging |
Designated as Hedging Instrument |
Interest Rate Swaps and Caps
 
Derivative [Line Items]
 
Notional amount
425,000 
Fair Value Asset (Liability)
$ (1,199)
Derivative Financial Instruments Derivative Financial Instruments (Rollforward Of Amounts In Accumulated Other Comprehensive Income Related To Interest Rate Swaps Designated As Cash Flow Hedges) (Detail) (Interest Rate Contract, USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Interest Rate Contract
 
 
Rollforward of AOCI from Cash Flow Hedging Derivatives [Roll Forward]
 
 
Unrealized loss at beginning of period
$ (4,062)
$ (3,971)
Amount reclassified from accumulated other comprehensive income to interest expense on junior subordinated debentures
414 
493 
Amount of loss recognized in other comprehensive income
(975)
(591)
Unrealized loss at end of period
$ (4,623)
$ (4,069)
Derivative Financial Instruments Derivative Financial Instruments (Derivatives Used To Hedge Changes In Fair Value Attributable To Interest Rate Risk) (Detail) (Fair Value Hedging, Designated as Hedging Instrument, Interest Rate Contract, USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Fair Value Hedging |
Designated as Hedging Instrument |
Interest Rate Contract
 
 
Derivative [Line Items]
 
 
Amount of Gain or (Loss) Recognized in Income on Derivative
$ (32)
$ (17)
Amount of Gain or (Loss) Recognized in Income on Hedged Item
28 
15 
Income Statement Gain/(Loss) due to Hedge Ineffectiveness
$ (4)
$ (2)
Derivative Financial Instruments Derivative Financial Instruments (Summary Amounts Included In Consolidated Statement Of Income Related To Derivatives) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Interest Rate Swaps and Caps |
Trading Revenue [Member]
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
Derivative, Gain (Loss) on Derivative, Net
$ (450)
$ (677)
Mortgage Banking Derivatives [Member] |
Mortgage Banking Revenue [Member]
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
Derivative, Gain (Loss) on Derivative, Net
2,094 
3,677 
Covered Call Options [Member] |
Fees From Covered Call Options [Member]
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
Derivative, Gain (Loss) on Derivative, Net
4,360 
1,542 
Foreign Exchange Contract |
Trading Revenue [Member]
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
Derivative, Gain (Loss) on Derivative, Net
$ (51)
$ (1)
Derivative Financial Instruments Derivative Financial Instruments (Derivative Asset and Liability Balance Sheet Offsetting) (Detail) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Derivative Assets
 
 
 
Gross Amounts Recognized
$ 47,550,000 
$ 37,841,000 
$ 37,239,000 
Less: Amounts offset in the Statements of Financial Condition
0 
0 
0 
Net amount presented in the Statements of Financial Condition
47,550,000 
37,841,000 
37,239,000 
Offsetting Derivative Positions
(1,563,000)
(2,771,000)
(7,359,000)
Collateral Posted
0 
0 
0 
Net Credit Exposure
45,987,000 
35,070,000 
29,880,000 
Derivative Liabilities
 
 
 
Gross Amounts Recognized
47,698,000 
36,921,000 
34,990,000 
Less: Amounts offset in the Statements of Financial Condition
0 
0 
0 
Net amount presented in the Statements of Financial Condition
47,698,000 
36,921,000 
34,990,000 
Offsetting Derivative Positions
(1,563,000)
(2,771,000)
(7,359,000)
Collateral Posted
(46,135,000)1
(34,150,000)1
(27,631,000)1
Net Credit Exposure
0 
0 
0 
Security Owned and Pledged as Collateral, Fair Value
$ 51,300,000 
$ 43,800,000 
$ 37,100,000 
Derivative Financial Instruments Derivative Financial Instruments (Narrative) (Detail) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Amount reclassified from accumulated other comprehensive income to interest expense
$ 2,400,000 
 
 
Basis Amortization of Hedged item no longer in a Hedging Relationship
43,000 
43,000 
 
Loans Held-for-sale, Fair Value Disclosure
446,355,000 
215,231,000 
351,290,000 
Derivative, Net Liability Position, Aggregate Fair Value
30,000,000 
 
 
Interest Rate Cap [Member] |
Not Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Number of Interest Rate Derivatives Held
6 
 
 
Notional amount
620,000,000 
 
 
Interest Rate Contract |
Not Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Notional amount
3,100,000,000 
 
 
Forward Commitments to Sell Mortgage Loans
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Notional amount
829,000,000 
 
 
Interest Rate Lock Commitments
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Notional amount
531,800,000 
 
 
Foreign Exchange Contract
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Notional amount
9,600,000 
 
 
Call Options Written [Member]
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Derivative, Number of Instruments Held
0 
0 
0 
Minimum [Member]
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Derivative, maturity date
Apr. 30, 2015 
 
 
Maximum [Member]
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Derivative, maturity date
Feb. 28, 2045 
 
 
Cash Flow Hedging |
Interest Rate Contract |
Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net
0 
0 
 
Fair Value Hedging |
Interest Rate Swap [Member] |
Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Number of Interest Rate Derivatives Held
3 
 
 
Notional amount
4,700,000 
 
 
Fair Value Hedging |
Interest Rate Contract |
Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Income Statement Gain/(Loss) due to Hedge Ineffectiveness
(4,000)
(2,000)
 
Cash flow hedge of variable rate deposits [Member] |
Cash Flow Hedging |
Interest Rate Cap [Member] |
Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Number of Interest Rate Derivatives Held
2 
 
 
Interest Rate Cap Two Hundred Sixteen Million Five Hundred Thousand Notional August Two Thousand Sixteen Maturity |
Cash Flow Hedging |
Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Notional amount
216,500,000 
 
 
Interest Rate Cap Forty Three Million Five Hundred Thousand Notional August Two Thousand Sixteen Maturity |
Cash Flow Hedging |
Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Notional amount
43,500,000 
 
 
Cash Flow Hedge of Junior Subordinated Debentures |
Cash Flow Hedging |
Interest Rate Cap [Member] |
Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Number of Interest Rate Derivatives Held
2 
 
 
Cash Flow Hedge of Junior Subordinated Debentures |
Cash Flow Hedging |
Interest Rate Swap [Member] |
Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Number of Interest Rate Derivatives Held
2 
 
 
De-designated Hedge [Member] |
Interest Rate Cap [Member] |
Not Designated as Hedging Instrument
 
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
Notional amount
$ 96,500,000 
 
 
Fair Values Of Assets And Liabilities (Summary Of Balances Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Detail) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
$ 1,721,030,000 
$ 1,792,078,000 
$ 1,949,697,000 
Trading account securities
7,811,000 
1,206,000 
1,068,000 
Derivative assets
47,550,000 
37,841,000 
37,239,000 
Derivative liabilities
47,698,000 
36,921,000 
34,990,000 
U.S. Treasury
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
271,474,000 
381,805,000 
340,178,000 
U.S. Government agencies
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
661,793,000 
668,316,000 
828,275,000 
Municipal
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
269,912,000 
238,529,000 
175,300,000 
Mortgage-backed securities
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
329,591,000 
318,710,000 
417,303,000 
Equity securities
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
54,446,000 
51,139,000 
53,574,000 
Fair Value, Measurements, Recurring [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Trading account securities
7,811,000 
1,206,000 
1,068,000 
Mortgage loans held-for-sale
446,355,000 
351,290,000 
215,231,000 
Mortgage servicing rights
7,852,000 
8,435,000 
8,719,000 
Nonqualified deferred compensation assets
8,718,000 
7,951,000 
7,783,000 
Derivative assets
62,984,000 
47,964,000 
51,529,000 
Total
2,254,750,000 
2,208,924,000 
2,234,027,000 
Derivative liabilities
55,225,000 
41,180,000 
37,797,000 
Fair Value, Measurements, Recurring [Member] |
U.S. Treasury
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
271,474,000 
381,805,000 
340,178,000 
Fair Value, Measurements, Recurring [Member] |
U.S. Government agencies
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
661,793,000 
668,316,000 
828,275,000 
Fair Value, Measurements, Recurring [Member] |
Municipal
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
269,912,000 
238,529,000 
175,300,000 
Fair Value, Measurements, Recurring [Member] |
Corporate Notes [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
133,814,000 
133,579,000 
135,067,000 
Fair Value, Measurements, Recurring [Member] |
Mortgage-backed securities
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
329,591,000 
318,710,000 
417,303,000 
Fair Value, Measurements, Recurring [Member] |
Equity securities
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
54,446,000 
51,139,000 
53,574,000 
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Trading account securities
7,811,000 
1,206,000 
1,068,000 
Mortgage loans held-for-sale
446,355,000 
351,290,000 
215,231,000 
Mortgage servicing rights
0 
0 
0 
Nonqualified deferred compensation assets
8,718,000 
7,951,000 
7,783,000 
Derivative assets
62,984,000 
47,964,000 
51,529,000 
Total
2,166,193,000 
2,117,825,000 
2,162,098,000 
Derivative liabilities
55,225,000 
41,180,000 
37,797,000 
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member] |
U.S. Treasury
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
271,474,000 
381,805,000 
340,178,000 
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member] |
U.S. Government agencies
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
661,793,000 
668,316,000 
828,275,000 
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member] |
Municipal
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
213,863,000 
179,576,000 
135,528,000 
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member] |
Corporate Notes [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
133,814,000 
133,579,000 
135,067,000 
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member] |
Mortgage-backed securities
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
329,591,000 
318,710,000 
417,303,000 
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member] |
Equity securities
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
29,790,000 
27,428,000 
30,136,000 
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Trading account securities
0 
0 
0 
Mortgage loans held-for-sale
0 
0 
0 
Mortgage servicing rights
7,852,000 
8,435,000 
8,719,000 
Nonqualified deferred compensation assets
0 
0 
0 
Derivative assets
0 
0 
0 
Total
88,557,000 
91,099,000 
71,929,000 
Derivative liabilities
0 
0 
0 
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member] |
U.S. Treasury
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
0 
0 
0 
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member] |
U.S. Government agencies
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
0 
0 
0 
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member] |
Municipal
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
56,049,000 
58,953,000 
39,772,000 
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member] |
Corporate Notes [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
0 
0 
0 
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member] |
Mortgage-backed securities
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
0 
0 
0 
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member] |
Equity securities
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Available-for-sale securities, at fair value
$ 24,656,000 
$ 23,711,000 
$ 23,438,000 
Fair Values Of Assets And Liabilities (Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mortgage Servicing Rights [Member]
 
 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
 
 
Beginning Balance
$ 8,435 
$ 8,946 
Total net gains (losses) included in Net income
(583)1
(227)1
Ending Balance
7,852 
8,719 
Municipal
 
 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
 
 
Beginning Balance
58,953 
36,386 
Total net gains (losses) included in Other comprehensive income
203 
147 
Purchases
6,674 
3,360 
Settlements
(9,781)
(121)
Ending Balance
56,049 
39,772 
Equity securities
 
 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
 
 
Beginning Balance
23,711 
22,163 
Total net gains (losses) included in Other comprehensive income
945 
1,275 
Ending Balance
$ 24,656 
$ 23,438 
Fair Values Of Assets And Liabilities (Summary Of Assets Measured At Fair Value On A Nonrecurring Basis) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Impaired loans—collateral based
$ 112,404 1
$ 127,412 1
$ 142,977 1
Fair Value Losses Recognized, Impaired loans—collateral based
2,731 
 
 
Fair Value Losses Recognized, Other real estate owned
2,362 2
 
 
Fair Value Losses Recognized, Total
5,093 
 
 
Fair Value, Measurements, Nonrecurring [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Impaired loans—collateral based
69,002 
 
 
Other real estate owned
81,042 2
 
 
Total
150,044 
 
 
Fair Value, Measurements, Nonrecurring [Member] |
Level 1 [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Impaired loans—collateral based
0 
 
 
Other real estate owned
0 2
 
 
Total
0 
 
 
Fair Value, Measurements, Nonrecurring [Member] |
Level 2 [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Impaired loans—collateral based
0 
 
 
Other real estate owned
0 2
 
 
Total
0 
 
 
Fair Value, Measurements, Nonrecurring [Member] |
Level 3 [Member]
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
Impaired loans—collateral based
69,002 
 
 
Other real estate owned
81,042 2
 
 
Total
$ 150,044 
 
 
Fair Values Of Assets and Liabilities (Schedule Of Valuation Techniques And Significant Unobservable Inputs Used To Measure Both Recurring And Non-Recurring) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Available-for-sale securities, at fair value
$ 1,721,030 
$ 1,792,078 
$ 1,949,697 
Impaired Financing Receivable, Recorded Investment
112,404 1
127,412 1
142,977 1
Municipal
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Available-for-sale securities, at fair value
269,912 
238,529 
175,300 
Equity securities
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Available-for-sale securities, at fair value
54,446 
51,139 
53,574 
Fair Value, Measurements, Recurring [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Mortgage servicing rights
7,852 
8,435 
8,719 
Fair Value, Measurements, Recurring [Member] |
Municipal
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Available-for-sale securities, at fair value
269,912 
238,529 
175,300 
Fair Value, Measurements, Recurring [Member] |
Equity securities
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Available-for-sale securities, at fair value
54,446 
51,139 
53,574 
Fair Value, Measurements, Nonrecurring [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Other real estate owned
81,042 2
 
 
Impaired Financing Receivable, Recorded Investment
69,002 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Mortgage servicing rights
7,852 
8,435 
8,719 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Mortgage Servicing Rights [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Valuation Methodology
Discounted cash flows 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Mortgage Servicing Rights [Member] |
Minimum [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Fair Value Inputs, Discount Rate
9.00% 
 
 
Fair Value Inputs, Prepayment Rate
11.00% 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Mortgage Servicing Rights [Member] |
Maximum [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Fair Value Inputs, Discount Rate
12.00% 
 
 
Fair Value Inputs, Prepayment Rate
20.00% 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Mortgage Servicing Rights Discount Rate Input [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Significant Unobservable Input
Discount rate 
 
 
Range of Inputs
9%-12% 
 
 
Weighted Average of Inputs
9.15% 
 
 
Impact to valuation from an increased or higher input value
Decrease 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Mortgage Servicing Rights Prepayment Rate Input [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Significant Unobservable Input
Constant prepayment rate (CPR) 
 
 
Range of Inputs
11%-20% 
 
 
Weighted Average of Inputs
13.29% 
 
 
Impact to valuation from an increased or higher input value
Decrease 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Municipal
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Available-for-sale securities, at fair value
56,049 
58,953 
39,772 
Valuation Methodology
Bond pricing 
 
 
Significant Unobservable Input
Equivalent rating 
 
 
Range of Inputs
BBB-AA+ 
 
 
Impact to valuation from an increased or higher input value
Increase 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Equity securities
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Available-for-sale securities, at fair value
24,656 
23,711 
23,438 
Valuation Methodology
Discounted cash flows 
 
 
Significant Unobservable Input
Discount rate 
 
 
Range of Inputs
1.70%-2.34% 
 
 
Weighted Average of Inputs
2.04% 
 
 
Impact to valuation from an increased or higher input value
Decrease 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Equity securities |
Minimum [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Fair Value Inputs, Discount Rate
1.70% 
 
 
Level 3 [Member] |
Fair Value, Measurements, Recurring [Member] |
Equity securities |
Maximum [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Fair Value Inputs, Discount Rate
2.34% 
 
 
Level 3 [Member] |
Fair Value, Measurements, Nonrecurring [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Other real estate owned
81,042 2
 
 
Impaired Financing Receivable, Recorded Investment
$ 69,002 
 
 
Level 3 [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Impaired Loans [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Valuation Methodology
Appraisal value 
 
 
Level 3 [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Other Real Estate Owned [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Valuation Methodology
Appraisal value 
 
 
Significant Unobservable Input
Property specific valuation adjustment 
 
 
Range of Inputs
(79)%-154% 
 
 
Weighted Average of Inputs
(1.76%)
 
 
Impact to valuation from an increased or higher input value
Increase 
 
 
Level 3 [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Other Real Estate Owned [Member] |
Minimum [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Fair Value Inputs, Property Specific Valuation Adjustment
(79.00%)
 
 
Level 3 [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Other Real Estate Owned [Member] |
Maximum [Member]
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
 
 
 
Fair Value Inputs, Property Specific Valuation Adjustment
154.00% 
 
 
Fair Values Of Assets And Liabilities (Summary Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Detail) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
 
 
 
 
Interest bearing deposits with banks
$ 697,799,000 
$ 998,437,000 
$ 540,964,000 
 
Available-for-sale securities, at fair value
1,721,030,000 
1,792,078,000 
1,949,697,000 
 
Trading account securities
7,811,000 
1,206,000 
1,068,000 
 
Federal Home Loan Bank and Federal Reserve Bank stock, at cost
92,948,000 
91,582,000 
78,524,000 
 
Brokerage customer receivables
25,287,000 
24,221,000 
26,884,000 
 
Derivative assets
45,987,000 
35,070,000 
29,880,000 
 
FDIC indemnification asset
10,224,000 
11,846,000 
60,298,000 
85,672,000 
Accrued interest receivable and other
537,117,000 
501,882,000 
549,705,000 
 
Federal Home Loan Bank advances
416,036,000 
733,050,000 
387,672,000 
 
Other borrowings
187,006,000 
196,465,000 
231,086,000 
 
Subordinated notes
140,000,000 
140,000,000 
0 
 
Junior subordinated debentures
249,493,000 
249,493,000 
249,493,000 
 
Derivative liabilities
47,698,000 
36,921,000 
34,990,000 
 
Carrying Value [Member]
 
 
 
 
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
 
 
 
 
Cash and cash equivalents
290,872,000 
230,707,000 
342,738,000 
 
Interest bearing deposits with banks
697,799,000 
998,437,000 
540,964,000 
 
Available-for-sale securities, at fair value
1,721,030,000 
1,792,078,000 
1,949,697,000 
 
Trading account securities
7,811,000 
1,206,000 
1,068,000 
 
Federal Home Loan Bank and Federal Reserve Bank stock, at cost
92,948,000 
91,582,000 
78,524,000 
 
Brokerage customer receivables
25,287,000 
24,221,000 
26,884,000 
 
Mortgage loans held-for-sale, at fair value
446,355,000 
351,290,000 
215,231,000 
 
Total loans
15,162,753,000 
14,636,107,000 
13,445,638,000 
 
Mortgage servicing rights
7,852,000 
8,435,000 
8,719,000 
 
Nonqualified deferred compensation assets
8,718,000 
7,951,000 
7,783,000 
 
Derivative assets
62,984,000 
47,964,000 
51,529,000 
 
FDIC indemnification asset
10,224,000 
11,846,000 
60,298,000 
 
Accrued interest receivable and other
181,998,000 
169,156,000 
169,580,000 
 
Total financial assets
18,716,631,000 
18,370,980,000 
16,898,653,000 
 
Non-maturity deposits
12,927,014,000 
12,142,034,000 
10,944,521,000 
 
Deposits with stated maturities
4,011,755,000 
4,139,810,000 
4,184,524,000 
 
Federal Home Loan Bank advances
416,036,000 
733,050,000 
387,672,000 
 
Other borrowings
187,006,000 
196,465,000 
231,086,000 
 
Subordinated notes
140,000,000 
140,000,000 
0 
 
Junior subordinated debentures
249,493,000 
249,493,000 
249,493,000 
 
Derivative liabilities
55,225,000 
41,180,000 
37,797,000 
 
Accrued interest payable
8,583,000 
8,001,000 
7,218,000 
 
Total financial liabilities
17,995,112,000 
17,650,033,000 
16,042,311,000 
 
Fair Value [Member]
 
 
 
 
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
 
 
 
 
Cash and cash equivalents
290,872,000 
230,707,000 
342,738,000 
 
Interest bearing deposits with banks
697,799,000 
998,437,000 
540,964,000 
 
Available-for-sale securities, at fair value
1,721,030,000 
1,792,078,000 
1,949,697,000 
 
Trading account securities
7,811,000 
1,206,000 
1,068,000 
 
Federal Home Loan Bank and Federal Reserve Bank stock, at cost
92,948,000 
91,582,000 
78,524,000 
 
Brokerage customer receivables
25,287,000 
24,221,000 
26,884,000 
 
Mortgage loans held-for-sale, at fair value
446,355,000 
351,290,000 
215,231,000 
 
Total loans
15,868,532,000 
15,346,266,000 
14,078,788,000 
 
Mortgage servicing rights
7,852,000 
8,435,000 
8,719,000 
 
Nonqualified deferred compensation assets
8,718,000 
7,951,000 
7,783,000 
 
Derivative assets
62,984,000 
47,964,000 
51,529,000 
 
FDIC indemnification asset
10,224,000 
11,846,000 
60,298,000 
 
Accrued interest receivable and other
181,998,000 
169,156,000 
169,580,000 
 
Total financial assets
19,422,410,000 
19,081,139,000 
17,531,803,000 
 
Non-maturity deposits
12,927,014,000 
12,142,034,000 
10,944,521,000 
 
Deposits with stated maturities
4,017,565,000 
4,143,161,000 
4,197,918,000 
 
Federal Home Loan Bank advances
422,305,000 
738,113,000 
393,145,000 
 
Other borrowings
187,006,000 
197,883,000 
231,086,000 
 
Subordinated notes
147,851,000 
143,639,000 
0 
 
Junior subordinated debentures
250,196,000 
250,305,000 
250,578,000 
 
Derivative liabilities
55,225,000 
41,180,000 
37,797,000 
 
Accrued interest payable
8,583,000 
8,001,000 
7,218,000 
 
Total financial liabilities
$ 18,015,745,000 
$ 17,664,316,000 
$ 16,062,263,000 
 
Fair Values Of Assets And Liabilities (Narrative) (Detail) (USD $)
3 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Mar. 31, 2015
Estimate of Fair Value Measurement [Member]
Dec. 31, 2014
Estimate of Fair Value Measurement [Member]
Mar. 31, 2014
Estimate of Fair Value Measurement [Member]
Mar. 31, 2015
Portion at Other than Fair Value Measurement [Member]
Mar. 31, 2015
Municipal
Dec. 31, 2014
Municipal
Mar. 31, 2014
Municipal
Mar. 31, 2015
Equity securities
Dec. 31, 2014
Equity securities
Mar. 31, 2014
Equity securities
Mar. 31, 2015
Fair Value, Measurements, Recurring [Member]
Dec. 31, 2014
Fair Value, Measurements, Recurring [Member]
Mar. 31, 2014
Fair Value, Measurements, Recurring [Member]
Mar. 31, 2015
Fair Value, Measurements, Recurring [Member]
Municipal
Dec. 31, 2014
Fair Value, Measurements, Recurring [Member]
Municipal
Mar. 31, 2014
Fair Value, Measurements, Recurring [Member]
Municipal
Mar. 31, 2015
Fair Value, Measurements, Recurring [Member]
Equity securities
Dec. 31, 2014
Fair Value, Measurements, Recurring [Member]
Equity securities
Mar. 31, 2014
Fair Value, Measurements, Recurring [Member]
Equity securities
Mar. 31, 2015
Fair Value, Measurements, Nonrecurring [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Dec. 31, 2014
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Mar. 31, 2014
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Minimum [Member]
Mortgage Servicing Rights [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Maximum [Member]
Mortgage Servicing Rights [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Weighted Average [Member]
Mortgage Servicing Rights [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Municipal
Dec. 31, 2014
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Municipal
Mar. 31, 2014
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Municipal
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Equity securities
Dec. 31, 2014
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Equity securities
Mar. 31, 2014
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Equity securities
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Equity securities
Minimum [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Equity securities
Maximum [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Equity securities
Weighted Average [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Minimum [Member]
Other Real Estate Owned [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Maximum [Member]
Other Real Estate Owned [Member]
Mar. 31, 2015
Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Weighted Average [Member]
Other Real Estate Owned [Member]
Mar. 31, 2015
Non-performing
Dec. 31, 2014
Non-performing
Mar. 31, 2014
Non-performing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities, at fair value
$ 1,721,030,000 
$ 1,792,078,000 
$ 1,949,697,000 
$ 1,721,030,000 
$ 1,792,078,000 
$ 1,949,697,000 
 
$ 269,912,000 
$ 238,529,000 
$ 175,300,000 
$ 54,446,000 
$ 51,139,000 
$ 53,574,000 
 
 
 
$ 269,912,000 
$ 238,529,000 
$ 175,300,000 
$ 54,446,000 
$ 51,139,000 
$ 53,574,000 
 
 
 
 
 
 
 
$ 56,049,000 
$ 58,953,000 
$ 39,772,000 
$ 24,656,000 
$ 23,711,000 
$ 23,438,000 
 
 
 
 
 
 
 
 
 
 
Fair Value Inputs, Discount Rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9.00% 
12.00% 
9.15% 
 
 
 
 
 
 
1.70% 
2.34% 
2.04% 
 
 
 
 
 
 
 
Mortgage servicing rights
 
 
 
7,852,000 
8,435,000 
8,719,000 
 
 
 
 
 
 
 
7,852,000 
8,435,000 
8,719,000 
 
 
 
 
 
 
 
7,852,000 
8,435,000 
8,719,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Inputs, Prepayment Rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11.00% 
20.00% 
13.29% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remaining contractual principal balance outstanding, mortgage loans held-for-sale
 
 
 
421,200,000 
327,100,000 
199,300,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage loans held-for-sale
 
 
 
446,355,000 
351,290,000 
215,231,000 
 
 
 
 
 
 
 
446,355,000 
351,290,000 
215,231,000 
 
 
 
 
 
 
 
0 
0 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0 
0 
0 
Impaired loans—collateral based
112,404,000 1
127,412,000 1
142,977,000 1
69,000,000 
 
 
43,400,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
69,002,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
69,002,000 
 
 
 
 
 
 
Other real estate owned
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 81,042,000 2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 81,042,000 2
 
 
 
 
 
 
Fair Value Inputs, Property Specific Valuation Adjustment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(79.00%)
154.00% 
(1.76%)
 
 
 
Stock-Based Compensation Plans (Weighted Average Assumptions Used To Determine The Options Fair Value) (Detail)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Share-based Compensation [Abstract]
 
 
Expected dividend yield
0.90% 
0.40% 
Expected volatility
26.50% 
30.80% 
Risk-free rate
1.30% 
0.70% 
Expected option life (in years)
4 years 6 months 
4 years 6 months 
Stock-Based Compensation Plans (Summary Of Stock Option Activity) (Detail) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
 
 
Common Shares, Outstanding at beginning of the period
1,618,426 
1,524,672 
Common Shares, Conversion of options of acquired company
16,364 
 
Common Shares, Granted
487,259 
358,440 
Common Shares, Exercised
(51,522)
(77,311)
Common Shares, Forfeited or canceled
(175,579)
(18,898)
Common Shares, Outstanding at end of the period
1,894,948 
1,786,903 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
 
 
Weighted Average Strike Price, Outstanding at beginning of period
$ 43.00 
$ 42.00 
Weighted Average Strike Price, Conversion of options of acquired company
21.18 
 
Weighted Average Strike Price, Granted
$ 44.11 
$ 46.86 
Weighted Average Strike Price, Exercised
$ 31.50 
$ 34.79 
Weighted Average Strike Price, Forfeited or canceled
$ 54.40 
$ 45.56 
Weighted Average Strike Price, Outstanding at end of period
$ 42.35 
$ 43.25 
Stock Options, Exercisable
1,158,991 
1,166,309 
Stock Options, Weighted Average Strike Price, Exercisable
$ 41.00 
$ 43.96 
Stock Options, Remaining Contractual Term, Outstanding, Years
4 years 7 months 6 days 1
3 years 8 months 12 days 1
Stock Options, Remaining Contractual Term, Exercisable, Years
3 years 3 months 18 days 1
2 years 4 months 24 days 1
Stock Options, Intrinsic Value, Outstanding
$ 11,649 2
$ 12,834 2
Stock Options, Intrinsic Value, Exercisable
$ 9,291 2
$ 8,655 2
Stock-Based Compensation Plans (Summary Of Plans' Restricted Share And Performance-Vested Stock Award Activity) (Detail) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Dec. 31, 2013
Restricted Stock [Member]
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
 
 
 
 
Shares, Beginning of the Period
146,112 
181,522 
 
 
Shares, Granted
12,300 
2,775 
 
 
Shares, Vested and issued
(4,925)
(24,900)
 
 
Shares, Forfeited
0 
(451)
 
 
Shares, Outstanding, End of the Period
153,487 
158,946 
 
 
Shares, Vested, but not issuable
85,000 
85,000 
 
 
Weighted Average Grant-Date Fair Value
$ 47.53 
$ 44.95 
$ 47.45 
$ 43.39 
Weighted Average Grant-Date Fair Value, Granted
$ 44.11 
$ 46.86 
 
 
Weighted Average Grant-Date Fair Value, Vested and issued
$ 36.74 
$ 33.81 
 
 
Weighted Average Grant-Date Fair Value, Forfeited
$ 0.00 
$ 44.29 
 
 
Weighted Average Grant-Date Fair Value, Vested, but not issuable
$ 51.88 
$ 51.88 
 
 
Performance Shares [Member]
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
 
 
 
 
Shares, Beginning of the Period
295,679 
307,512 
 
 
Shares, Granted
102,828 
91,501 
 
 
Shares, Vested and issued
(78,590)
(15,944)
 
 
Shares, Forfeited
(29,926)
(81,551)
 
 
Shares, Outstanding, End of the Period
289,991 
301,518 
 
 
Weighted Average Grant-Date Fair Value
$ 42.90 
$ 38.12 
$ 38.18 
$ 34.01 
Weighted Average Grant-Date Fair Value, Granted
$ 44.11 
$ 46.86 
 
 
Weighted Average Grant-Date Fair Value, Vested and issued
$ 31.10 
$ 33.25 
 
 
Weighted Average Grant-Date Fair Value, Forfeited
$ 31.41 
$ 33.38 
 
 
Stock-Based Compensation Plans (Narrative) (Detail) (USD $)
3 Months Ended 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
May 31, 2011
Two Thousand And Seven Plan [Member]
May 31, 2009
Two Thousand And Seven Plan [Member]
Jan. 31, 2007
Two Thousand And Seven Plan [Member]
Mar. 31, 2015
Two Thousand And Seven Plan [Member]
Minimum [Member]
Mar. 31, 2015
Two Thousand And Seven Plan [Member]
Maximum [Member]
Mar. 31, 2015
Nineteen Ninety Seven Plan [Member]
Maximum [Member]
Mar. 31, 2015
Restricted Stock [Member]
Minimum [Member]
Mar. 31, 2015
Restricted Stock [Member]
Maximum [Member]
Mar. 31, 2015
Ltip Awards [Member]
Mar. 31, 2015
Ltip Awards [Member]
Minimum [Member]
Rate
Mar. 31, 2015
Granted in Two Thousand Fifteen
Ltip Awards [Member]
Maximum [Member]
Rate
Mar. 31, 2015
Granted Prior To Two Thousand Fifteen
Ltip Awards [Member]
Maximum [Member]
Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares approved for issuance
 
 
 
 
500,000 
 
 
 
 
 
 
 
 
 
Shares additionally approved for issuance
 
 
2,860,000 
325,000 
 
 
 
 
 
 
 
 
 
 
Award vesting period
 
 
 
 
 
3 years 
5 years 
 
1 year 
5 years 
3 years 
 
 
 
Share based payment award options term
 
 
 
 
 
 
7 years 
10 years 
 
 
7 years 
 
 
 
Percentage Of Performance Based Award Payouts
 
 
 
 
 
 
 
 
 
 
 
0.00% 
150.00% 
200.00% 
Allocated Share-based Compensation Expense
$ 2,300,000 
$ 3,800,000 
 
 
 
 
 
 
 
 
 
 
 
 
Allocated Sharebased Compensation Expense Modification Of Performance Measurement
 
2,100,000 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average grant date fair value per share of options granted
$ 9.68 
$ 11.96 
 
 
 
 
 
 
 
 
 
 
 
 
Aggregate intrinsic value of options exercised
$ 744,000 
$ 911,000 
 
 
 
 
 
 
 
 
 
 
 
 
Shareholders' Equity And Earnings Per Share (Components Of Other Comprehensive Income (Loss)) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
Balance at beginning of period
$ (37,332)
$ (63,036)
Other comprehensive income (loss) during the period, net of tax, before reclassifications
6,307 
5,966 
Amount reclassified from accumulated other comprehensive income (loss), net of tax
(66)
317 
Other comprehensive income, net of tax
6,241 
6,283 
Balance at end of period
(31,091)
(56,753)
Accumulated Unrealized (Losses) Gains on Securities
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
Balance at beginning of period
(9,533)
(53,665)
Other comprehensive income (loss) during the period, net of tax, before reclassifications
15,945 
13,722 
Amount reclassified from accumulated other comprehensive income (loss), net of tax
(318)
20 
Other comprehensive income, net of tax
15,627 
13,742 
Balance at end of period
6,094 
(39,923)
Accumulated Unrealized Losses on Derivative Instruments
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
Balance at beginning of period
(2,517)
(2,462)
Other comprehensive income (loss) during the period, net of tax, before reclassifications
(593)
(356)
Amount reclassified from accumulated other comprehensive income (loss), net of tax
252 
297 
Other comprehensive income, net of tax
(341)
(59)
Balance at end of period
(2,858)
(2,521)
Accumulated Foreign Currency Translation Adjustment
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
Balance at beginning of period
(25,282)
(6,909)
Other comprehensive income (loss) during the period, net of tax, before reclassifications
(9,045)
(7,400)
Amount reclassified from accumulated other comprehensive income (loss), net of tax
0 
0 
Other comprehensive income, net of tax
(9,045)
(7,400)
Balance at end of period
$ (34,327)
$ (14,309)
Shareholders' Equity and Earnings Per Share Shareholders' Equity And Earnings Per Share (Other Comprehensive Income Reclassified from AOCI) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
 
 
Gains (losses) on available-for-sale securities, net
$ 524 
$ (33)
Interest on junior subordinated debentures
1,933 
2,004 
Income before taxes
63,035 
56,340 
Income tax expense
(23,983)
(21,840)
Net income
39,052 
34,500 
Reclassification Out of Accumulated Other Comprehensive Income [Member] |
Accumulated Unrealized Losses on Securities
 
 
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
 
 
Gains (losses) on available-for-sale securities, net
524 
(33)
Income before taxes
524 
(33)
Income tax expense
(206)
13 
Net income
318 
(20)
Reclassification Out of Accumulated Other Comprehensive Income [Member] |
Accumulated Unrealized Losses on Derivative Instruments
 
 
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
 
 
Interest on junior subordinated debentures
414 
493 
Income before taxes
(414)
(493)
Income tax expense
162 
196 
Net income
$ (252)
$ (297)
Shareholders' Equity And Earnings Per Share (Computation Of Basic And Diluted Earnings Per Common Share) (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
 
 
Net income
$ 39,052 
$ 34,500 
Less: Preferred stock dividends and discount accretion
1,581 
1,581 
Net income applicable to common shares—Basic
37,471 
32,919 
Add: Dividends on convertible preferred stock, if dilutive
1,581 
1,581 
Net income applicable to common shares—Diluted
$ 39,052 
$ 34,500 
Weighted average common shares outstanding
47,239 
46,195 
Effect of dilutive potential common shares
 
 
Common stock equivalents
1,158 
1,434 
Convertible preferred stock, if dilutive
3,075 
3,075 
Total dilutive potential common shares
4,233 
4,509 
Weighted average common shares and effect of dilutive potential common shares
51,472 
50,704 
Net income per common share-Basic
$ 0.79 
$ 0.71 
Net income per common share-Diluted
$ 0.76 
$ 0.68 
Shareholders' Equity And Earnings Per Share (Narrative) (Detail) (USD $)
In Thousands, except Share data, unless otherwise specified
1 Months Ended 3 Months Ended 1 Months Ended 0 Months Ended 3 Months Ended 12 Months Ended 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2015
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Jan. 31, 2015
Delavan Bancshares
Dec. 19, 2008
US Treasury [Member]
Mar. 31, 2015
US Treasury [Member]
Dec. 31, 2014
US Treasury [Member]
Mar. 31, 2012
Series C Preferred Stock [Member]
Mar. 31, 2015
Series C Preferred Stock [Member]
Dec. 31, 2014
Series C Preferred Stock [Member]
Mar. 31, 2014
Series C Preferred Stock [Member]
Temporary Equity [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock, shares issued
 
 
 
 
 
 
 
 
126,500 
 
 
 
Preferred stock, liquidation value per share
 
 
 
 
 
 
 
 
$ 1,000 
$ 1,000 
$ 1,000 
$ 1,000 
Preferred stock, value
 
$ 126,427 
$ 126,477 
$ 126,467 
 
 
 
 
$ 126,500 
 
 
 
Preferred Stock, Dividend Payment Terms
 
 
 
 
 
 
 
 
quarterly 
 
 
 
Preferred stock, dividend rate, percentage
 
 
 
 
 
 
 
 
5.00% 
 
 
 
Convertible Preferred Stock, Terms of Conversion
 
 
 
 
 
 
 
 
24.3132 
 
 
 
Preferred Stock, Shares Converted
 
 
 
 
 
 
 
 
 
40 
10 
 
Common Stock, Shares, Conversion of Preferred Stock
 
 
 
 
 
 
 
 
 
972 
244 
 
Warrants outstanding
 
 
 
 
 
1,643,295 
937,417 
 
 
 
 
 
Investment Warrants, Exercise Price
 
 
 
 
 
$ 22.82 
 
 
 
 
 
 
Warrant Termination Period
 
 
 
 
 
10 years 
 
 
 
 
 
 
Warrants Exercised
 
 
 
 
 
 
0 
705,878 
 
 
 
 
Common Stock, Shares, Issued from Exercise of Warrant Shares
 
 
 
 
 
 
 
363,155 
 
 
 
 
Common stock, shares issued, acquisition
 
 
 
 
422,121 
 
 
 
 
 
 
 
Cash dividends declared per common share (in usd per share)
$ 0.11 
$ 0.11 
$ 0.10 
 
 
 
 
 
 
 
 
 
Common Stock Dividends Per Share Declared Annualized
$ 0.44 
 
 
 
 
 
 
 
 
 
 
 
Dividends Payable, Date to be Paid
Feb. 19, 2015 
 
 
 
 
 
 
 
 
 
 
 
Dividends Payable, Date of Record
Feb. 05, 2015 
 
 
 
 
 
 
 
 
 
 
 
Subsequent Events Subsequent Events (Narrative) (Detail) (Subsequent Event [Member], USD $)
In Millions, unless otherwise specified
3 Months Ended
Jun. 30, 2015
locations
Suburban Illinois Bancorp [Member]
 
Subsequent Event [Line Items]
 
Business Acquisition, Date of Acquisition Agreement
Apr. 02, 2015 
Number of locations
10 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets
$ 470.0 
Business Combination, Acquired Receivables, Fair Value
297.0 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits
411.0 
North Bank [Member]
 
Subsequent Event [Line Items]
 
Business Acquisition, Date of Acquisition Agreement
Mar. 30, 2015 
Number of locations
2 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets
108.0 
Business Combination, Acquired Receivables, Fair Value
55.0 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits
96.0 
Community Financial Shares Inc. [Member]
 
Subsequent Event [Line Items]
 
Business Acquisition, Date of Acquisition Agreement
Mar. 02, 2015 
Number of locations
4 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets
343.0 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits
$ 310.0