Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | Apr. 29, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | M&T BANK CORPORATION | |
Entity Central Index Key | 0000036270 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 179,417,450 | |
Entity File Number | 1-9861 | |
Entity Tax Identification Number | 16-0968385 | |
Entity Incorporation, State or Country Code | NY | |
Entity Address, Address Line One | One M & T Plaza | |
Entity Address, Postal Zip Code | 14203 | |
Entity Address, City or Town | Buffalo | |
Entity Address, State or Province | NY | |
City Area Code | 716 | |
Local Phone Number | 635-4000 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Trading Symbol | MTB | |
Title of 12(b) Security | Common Stock, $.50 par value | |
Security Exchange Name | NYSE | |
Series H Preferred Stock [Member] | ||
Document Information [Line Items] | ||
Trading Symbol | MTBPrH | |
Title of 12(b) Security | Perpetual Fixed-to-Floating RateNon-Cumulative Preferred Stock, Series H | |
Security Exchange Name | NYSE |
Consolidated Balance Sheet (Una
Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and due from banks | $ 1,411,460 | $ 1,337,577 |
Interest-bearing deposits at banks | 36,025,382 | 41,872,304 |
Trading account | 197,558 | 468,031 |
Investment securities (includes pledged securities that can be sold or repledged of $85,493 at March 31, 2022; $96,128 at December 31, 2021) | ||
Available for sale (cost: $5,783,697 at March 31, 2022; $3,849,347 at December 31, 2021) | 5,705,199 | 3,955,804 |
Held to maturity (fair value: $3,042,709 at March 31, 2022; $2,771,290 at December 31, 2021) | 3,180,626 | 2,734,674 |
Equity and other securities (cost: $467,884 at March 31, 2022; $461,516 at December 31, 2021) | 471,007 | 465,382 |
Total investment securities | 9,356,832 | 7,155,860 |
Loans and leases | 92,004,751 | 93,136,678 |
Unearned discount | (196,359) | (224,226) |
Loans and leases, net of unearned discount | 91,808,392 | 92,912,452 |
Allowance for credit losses | (1,472,359) | (1,469,226) |
Loans and leases, net | 90,336,033 | 91,443,226 |
Premises and equipment | 1,134,718 | 1,144,765 |
Goodwill | 4,593,112 | 4,593,112 |
Core deposit and other intangible assets | 2,742 | 3,998 |
Accrued interest and other assets | 6,805,715 | 7,088,287 |
Total assets | 149,863,552 | 155,107,160 |
Liabilities | ||
Noninterest-bearing deposits | 58,520,366 | 60,131,480 |
Savings and interest-checking deposits | 65,273,150 | 68,603,966 |
Time deposits | 2,525,197 | 2,807,963 |
Total deposits | 126,318,713 | 131,543,409 |
Short-term borrowings | 50,307 | 47,046 |
Accrued interest and other liabilities | 2,174,925 | 2,127,931 |
Long-term borrowings | 3,443,587 | 3,485,369 |
Total liabilities | 131,987,532 | 137,203,755 |
Shareholders' equity | ||
Preferred stock, $1.00 par, 1,000,000 shares authorized; Issued and outstanding: Liquidation preference of $1,000 per share: 350,000 shares at March 31, 2022 and December 31, 2021; Liquidation preference of $10,000 per share: 140,000 shares at March 31, 2022 and December 31, 2021 | 1,750,000 | 1,750,000 |
Common stock, $.50 par, 250,000,000 shares authorized, 159,741,898 shares issued at March 31, 2022 and December 31, 2021 | 79,871 | 79,871 |
Common stock issuable, 13,864 shares at March 31, 2022; 15,769 shares at December 31, 2021 | 1,074 | 1,212 |
Additional paid-in capital | 6,611,659 | 6,635,000 |
Retained earnings | 14,830,671 | 14,646,448 |
Accumulated other comprehensive income (loss), net | (377,385) | (127,578) |
Treasury stock — common, at cost — 30,675,930 shares at March 31, 2022; 31,052,845 shares at December 31, 2021 | (5,019,870) | (5,081,548) |
Total shareholders’ equity | 17,876,020 | 17,903,405 |
Total liabilities and shareholders’ equity | $ 149,863,552 | $ 155,107,160 |
Consolidated Balance Sheet (U_2
Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Pledged securities that can be sold or repledged | $ 85,493 | $ 96,128 |
Investment securities, available for sale, amortized cost | 5,783,697 | 3,849,347 |
Investment securities, held to maturity, fair value | 3,042,709 | 2,771,290 |
Equity and other securities, cost | $ 467,884 | $ 461,516 |
Preferred stock, par value | $ 1 | $ 1 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, par value | $ 0.50 | $ 0.50 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 159,741,898 | 159,741,898 |
Common stock issuable, shares | 13,864 | 15,769 |
Treasury stock, common shares | 30,675,930 | 31,052,845 |
Series A Series C Series And E Preferred Stock [Member] | ||
Preferred stock, shares issued | 350,000 | 350,000 |
Preferred stock, shares outstanding | 350,000 | 350,000 |
Preferred stock, liquidation preference per share | $ 1,000 | $ 1,000 |
Series F And Series G Preferred Stock [Member] | ||
Preferred stock, shares issued | 140,000 | 140,000 |
Preferred stock, shares outstanding | 140,000 | 140,000 |
Preferred stock, liquidation preference per share | $ 10,000 | $ 10,000 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Interest income | ||
Loans and leases, including fees | $ 870,600 | $ 972,582 |
Investment securities | ||
Fully taxable | 39,132 | 37,071 |
Exempt from federal taxes | 50 | 55 |
Deposits at banks | 18,280 | 6,874 |
Other | 194 | 380 |
Total interest income | 928,256 | 1,016,962 |
Interest expense | ||
Savings and interest-checking deposits | 6,747 | 11,504 |
Time deposits | 1,397 | 7,010 |
Deposits at Cayman Islands office | 185 | |
Short-term borrowings | 1 | 2 |
Long-term borrowings | 15,937 | 16,866 |
Total interest expense | 24,082 | 35,567 |
Net interest income | 904,174 | 981,395 |
Provision for credit losses | 10,000 | (25,000) |
Net interest income after provision for credit losses | 894,174 | 1,006,395 |
Other income | ||
Brokerage services income | 20,190 | 13,113 |
Trading account and foreign exchange gains | 5,369 | 6,284 |
Loss on bank investment securities | (743) | (12,282) |
Other revenues from operations | 136,203 | 110,930 |
Total other income | 540,887 | 505,598 |
Other expense | ||
Salaries and employee benefits | 577,520 | 541,078 |
Equipment and net occupancy | 85,812 | 82,471 |
Outside data processing and software | 79,719 | 65,751 |
FDIC assessments | 15,576 | 14,188 |
Advertising and marketing | 16,024 | 14,628 |
Printing, postage and supplies | 10,150 | 9,317 |
Amortization of core deposit and other intangible assets | 1,256 | 2,738 |
Other costs of operations | 173,684 | 189,273 |
Total other expense | 959,741 | 919,444 |
Income before taxes | 475,320 | 592,549 |
Income taxes | 113,146 | 145,300 |
Net income | 362,174 | 447,249 |
Net income available to common shareholders | ||
Basic | 339,589 | 428,091 |
Diluted | $ 339,590 | $ 428,093 |
Net income per common share | ||
Basic | $ 2.63 | $ 3.33 |
Diluted | $ 2.62 | $ 3.33 |
Average common shares outstanding | ||
Basic | 128,945 | 128,537 |
Diluted | 129,416 | 128,669 |
Mortgage Banking Revenues [Member] | ||
Other income | ||
Revenue from contract with customer | $ 109,148 | $ 138,754 |
Service Charges on Deposit Accounts [Member] | ||
Other income | ||
Revenue from contract with customer | 101,507 | 92,777 |
Trust Income [Member] | ||
Other income | ||
Revenue from contract with customer | $ 169,213 | $ 156,022 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Statement Of Partners Capital [Abstract] | ||
Net income | $ 362,174 | $ 447,249 |
Other comprehensive income (loss), net of tax and reclassification adjustments: | ||
Net unrealized gains (losses) on investment securities | (136,367) | (22,406) |
Cash flow hedges adjustments | (114,061) | (66,777) |
Foreign currency translation adjustments | (1,648) | 548 |
Defined benefit plans liability adjustments | 2,269 | 13,189 |
Total other comprehensive income (loss) | (249,807) | (75,446) |
Total comprehensive income | $ 112,367 | $ 371,803 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities | ||
Net income | $ 362,174 | $ 447,249 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Provision for credit losses | 10,000 | (25,000) |
Depreciation and amortization of premises and equipment | 56,739 | 57,116 |
Amortization of capitalized servicing rights | 25,316 | 19,951 |
Amortization of core deposit and other intangible assets | 1,256 | 2,738 |
Provision for deferred income taxes | 4,151 | 39,329 |
Asset write-downs | 252 | 1,217 |
Net gain on sales of assets | (4,768) | (2,106) |
Net change in accrued interest receivable, payable | 15,748 | (36,893) |
Net change in other accrued income and expense | (99,163) | (27,301) |
Net change in loans originated for sale | 434,520 | 158,878 |
Net change in trading account assets and liabilities | 489,545 | 359,559 |
Net cash provided by operating activities | 1,295,770 | 994,737 |
Cash flows from investing activities | ||
Proceeds from sales of investment securities equity and other | 4,593 | 2,526 |
Proceeds from maturities of investment securities Available for sale | 220,320 | 422,171 |
Proceeds from maturities of investment securities Held to maturity | 120,032 | 171,644 |
Purchases of investment securities Available for sale | (2,156,662) | (1,002) |
Purchases of investment securities Held to maturity | (566,119) | (201,234) |
Purchases of investment securities equity and other | (10,966) | (8,801) |
Net (increase) decrease in loans and leases | 637,624 | (988,654) |
Net (increase) decrease in interest-bearing deposits at banks | 5,846,922 | (7,743,417) |
Capital expenditures, net | (27,910) | (31,016) |
Net (increase) decrease in loan servicing advances | 342,947 | (374,614) |
Other, net | (215,201) | (179,350) |
Net cash provided (used) by investing activities | 4,195,580 | (8,931,747) |
Cash flows from financing activities | ||
Net increase (decrease) in deposits | (5,224,696) | 8,670,627 |
Net increase (decrease) in short-term borrowings | 3,261 | (525) |
Payments on long-term borrowings | (49) | (852,945) |
Dividends paid — common | (156,657) | (142,044) |
Dividends paid — preferred | (30,718) | (21,288) |
Other, net | (8,608) | (9,569) |
Net cash provided (used) by financing activities | (5,417,467) | 7,644,256 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 73,883 | (292,754) |
Cash, cash equivalents and restricted cash at beginning of period | 1,337,577 | 1,552,743 |
Cash, cash equivalents and restricted cash at end of period | 1,411,460 | 1,259,989 |
Supplemental disclosure of cash flow information | ||
Interest received during the period | 978,682 | 971,142 |
Interest paid during the period | 40,683 | 55,378 |
Income taxes paid during the period | 33,638 | 24,220 |
Supplemental schedule of noncash investing and financing activities | ||
Real estate acquired in settlement of loans | 4,598 | 2,301 |
Additions to right-of-use assets under operating leases | $ 16,468 | $ 13,020 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Common Stock Issuable [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), Net [Member] | Treasury Stock [Member] | |
Beginning balance at Dec. 31, 2020 | $ 16,187,283 | $ 1,250,000 | $ 79,871 | $ 1,344 | $ 6,617,404 | $ 13,444,428 | $ (63,032) | $ (5,142,732) | |
Total comprehensive income | 371,803 | 447,249 | (75,446) | ||||||
Preferred stock cash dividends | [1] | (17,050) | (17,050) | ||||||
Stock-based compensation transactions, net | 46,998 | (179) | (6,254) | (208) | 53,639 | ||||
Common stock cash dividends | (142,526) | (142,526) | |||||||
Ending balance at Mar. 31, 2021 | 16,446,508 | 1,250,000 | 79,871 | 1,165 | 6,611,150 | 13,731,893 | (138,478) | (5,089,093) | |
Beginning balance at Dec. 31, 2021 | 17,903,405 | 1,750,000 | 79,871 | 1,212 | 6,635,000 | 14,646,448 | (127,578) | (5,081,548) | |
Total comprehensive income | 112,367 | 362,174 | (249,807) | ||||||
Preferred stock cash dividends | [1] | (21,765) | (21,765) | ||||||
Stock-based compensation transactions, net | 37,869 | (138) | (23,341) | (330) | 61,678 | ||||
Common stock cash dividends | (155,856) | (155,856) | |||||||
Ending balance at Mar. 31, 2022 | $ 17,876,020 | $ 1,750,000 | $ 79,871 | $ 1,074 | $ 6,611,659 | $ 14,830,671 | $ (377,385) | $ (5,019,870) | |
[1] | For the three-months ended March 31, 2022, dividends per preferred share were: Preferred Series E - $16.125; Preferred Series F - $128.125; Preferred Series G - $125.00; and Preferred Series I - $94.306. Dividends per preferred share for the three-months ended March 31, 2021 were: Preferred Series E - $16.125; Preferred Series F - $128.125; Preferred Series G - $125.00. |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Preferred Series E [Member] | ||
Preferred stock per share dividend amount | $ 16.125 | $ 16.125 |
Preferred Series F [Member] | ||
Preferred stock per share dividend amount | 128.125 | 128.125 |
Preferred Series G [Member] | ||
Preferred stock per share dividend amount | 125 | $ 125 |
Preferred Series I [Member] | ||
Preferred stock per share dividend amount | $ 94.306 |
Significant accounting policies
Significant accounting policies | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Significant accounting policies | 1. Significant accounting policies The consolidated interim financial statements of M&T Bank Corporation (“M&T”) and subsidiaries (“the Company”) were compiled in accordance with generally accepted accounting principles (“GAAP”) using the accounting policies set forth in note 1 of Notes to Financial Statements included in Form 10-K for the year ended December 31, 2021 (“2021 Annual Report”). The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the Company’s financial position, results of operations and cash flows for the interim periods presented. |
Acquisition
Acquisition | 3 Months Ended |
Mar. 31, 2022 | |
Business Combinations [Abstract] | |
Acquisition | 2. Acquisition On March 4, 2022, M&T received Federal Reserve approval to acquire People’s United Financial, Inc. ("People’s United"), and on April 1, 2022 closed the acquisition. Pursuant to the terms of the merger agreement dated February 22, 2021, People’s United shareholders received consideration valued at .118 of an M&T common share in exchange for each common share of People’s United. Additionally, People’s United outstanding preferred stock was converted into new shares of Series H preferred stock of M&T. The purchase price totaled approximately $8.4 billion (with the price based on M&T’s closing price of $164.66 per share as of April 1, 2022). M&T issued 50,325,004 common shares in completing the transaction. As of March 31, 2022 People’s United reported total assets of approximately $63.0 billion, including $36.3 billion of loans and $11.6 billion of investment securities, approximately $55.5 billion of liabilities, including $53.0 billion of deposits and approximately $7.5 billion of shareholders’ equity, including $244 million of preferred stock. In connection with the acquisition, the Company incurred merger-related expenses consisting predominantly of professional services, including legal expenses and technology-related activities to prepare for planned integration efforts that totaled approximately $17 million for the three months ended March 31, 2022. Merger-related expenses of $10 million were incurred in the first quarter of 2021, consisting predominantly of professional services for investment banking, legal and other services. |
Investment securities
Investment securities | 3 Months Ended |
Mar. 31, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Investment securities | 3. Investment securities The amortized cost and estimated fair value of investment securities were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In thousands) March 31, 2022 Investment securities available for sale: U.S. Treasury and federal agencies $ 2,838,987 $ 707 $ 49,977 $ 2,789,717 Mortgage-backed securities: Government issued or guaranteed 2,820,570 14,599 39,992 2,795,177 Other debt securities 124,140 996 4,831 120,305 5,783,697 16,302 94,800 5,705,199 Investment securities held to maturity: U.S. Treasury and federal agencies 3,038 — 24 3,014 Obligations of states and political subdivisions 175 — — 175 Mortgage-backed securities: Government issued or guaranteed 3,117,175 4,830 141,477 2,980,528 Privately issued 57,751 10,309 11,555 56,505 Other debt securities 2,487 — — 2,487 3,180,626 15,139 153,056 3,042,709 Total debt securities $ 8,964,323 $ 31,441 $ 247,856 $ 8,747,908 Equity and other securities: Readily marketable equity — at fair value $ 78,042 $ 4,653 $ 1,530 $ 81,165 Other — at cost 389,842 — — 389,842 Total equity and other securities $ 467,884 $ 4,653 $ 1,530 $ 471,007 Balance — December 31, 2021 Investment securities available for sale: U.S. Treasury and federal agencies $ 682,267 $ 229 $ 3,806 $ 678,690 Mortgage-backed securities: Government issued or guaranteed 3,042,771 113,102 561 3,155,312 Other debt securities 124,309 1,974 4,481 121,802 3,849,347 115,305 8,848 3,955,804 Investment securities held to maturity: U.S. Treasury and federal agencies 3,052 — 9 3,043 Obligations of states and political subdivisions 177 2 — 179 Mortgage-backed securities: Government issued or guaranteed 2,667,328 49,221 8,376 2,708,173 Privately issued 61,555 10,520 14,742 57,333 Other debt securities 2,562 — — 2,562 2,734,674 59,743 23,127 2,771,290 Total debt securities $ 6,584,021 $ 175,048 $ 31,975 $ 6,727,094 Equity and other securities: Readily marketable equity — at fair value $ 73,774 $ 4,460 $ 594 $ 77,640 Other — at cost 387,742 — — 387,742 Total equity and other securities $ 461,516 $ 4,460 $ 594 $ 465,382 3. Investment securities, continued There were no significant gross realized gains or losses from sales of investment securities for the quarters ended March 31, 2022 and 2021. Unrealized losses on equity securities were $1 million and $12 million during the three months ended March 31, 2022 and 2021, respectively. At March 31, 2022, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows: Amortized Cost Estimated Fair Value (In thousands) Debt securities available for sale: Due in one year or less $ 6,955 $ 6,947 Due after one year through five years 2,895,828 2,846,337 Due after five years through ten years 30,344 30,018 Due after ten years 30,000 26,720 2,963,127 2,910,022 Mortgage-backed securities available for sale 2,820,570 2,795,177 $ 5,783,697 $ 5,705,199 Debt securities held to maturity: Due in one year or less $ 3,213 $ 3,189 Due after ten years 2,487 2,487 5,700 5,676 Mortgage-backed securities held to maturity 3,174,926 3,037,033 $ 3,180,626 $ 3,042,709 3. Investment securities, continued A summary of investment securities that as of March 31, 2022 and December 31, 2021 had been in a continuous unrealized loss position for less than twelve months and those that had been in a continuous unrealized loss position for twelve months or longer follows: Less Than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) March 31, 2022 Investment securities available for sale: U.S. Treasury and federal agencies $ 2,341,892 $ 49,970 $ 293 $ 7 Mortgage-backed securities: Government issued or guaranteed 2,099,805 39,425 19,599 567 Other debt securities 7,357 69 67,888 4,762 4,449,054 89,464 87,780 5,336 Investment securities held to maturity: U.S. Treasury and federal agencies 3,014 24 — — Mortgage-backed securities: Government issued or guaranteed 2,639,956 141,419 1,178 58 Privately issued — — 38,536 11,555 2,642,970 141,443 39,714 11,613 Total $ 7,092,024 $ 230,907 $ 127,494 $ 16,949 December 31, 2021 Investment securities available for sale: U.S. Treasury and federal agencies $ 598,566 $ 3,806 $ — $ — Mortgage-backed securities: Government issued or guaranteed 10,111 54 20,824 507 Other debt securities 3,760 74 66,419 4,407 612,437 3,934 87,243 4,914 Investment securities held to maturity: U.S. Treasury and federal agencies 3,043 9 — — Mortgage-backed securities: Government issued or guaranteed 1,372,236 8,356 1,251 20 Privately issued — — 43,692 14,742 1,375,279 8,365 44,943 14,762 Total $ 1,987,716 $ 12,299 $ 132,186 $ 19,676 The Company owned 1,217 individual debt securities with aggregate gross unrealized losses of $248 million at March 31, 2022. Based on a review of each of the securities in the investment securities portfolio at March 31, 2022, the Company concluded that it expected to recover the amortized cost basis of its investment. As of March 31, 2022, the Company does not intend to sell nor is it anticipated that it would be required to sell any of its impaired investment securities at a loss. At March 31, 2022, the Company has not identified events or changes in circumstances which may have a significant adverse effect on the fair value of the $390 million of cost method equity securities. The Company estimated no material allowance for credit losses for its investment securities classified as held-to-maturity at March 31, 2022 or December 31, 2021, as the substantial majority of such investment securities are obligations backed by the U.S. government or its agencies. |
Loans and leases and the allowa
Loans and leases and the allowance for credit losses | 3 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Loans and leases and the allowance for credit losses | 4. Loans and leases and the allowance for credit losses A summary of current, past due and nonaccrual loans as of March 31, 2022 and December 31, 2021 follows: Current 30-89 Days Past Due Accruing Loans Due 90 Days or More Nonaccrual Total (In thousands) March 31, 2022 Commercial, financial, leasing, etc. $ 23,140,917 $ 70,716 $ 9,238 $ 275,146 $ 23,496,017 Real estate: Commercial 24,237,034 250,362 76,413 1,157,686 25,721,495 Residential builder and developer 1,381,331 840 — 2,916 1,385,087 Other commercial construction 7,283,522 112,599 — 50,855 7,446,976 Residential 13,126,694 249,731 687,397 341,671 14,405,493 Residential — limited documentation 1,050,328 16,546 — 123,512 1,190,386 Consumer: Home equity lines and loans 3,407,958 16,939 — 71,489 3,496,386 Recreational finance 8,156,368 33,093 — 31,546 8,221,007 Automobile 4,688,513 31,707 — 35,350 4,755,570 Other 1,631,907 10,305 3,703 44,060 1,689,975 Total $ 88,104,572 $ 792,838 $ 776,751 $ 2,134,231 $ 91,808,392 December 31, 2021 Commercial, financial, leasing, etc. $ 23,101,810 $ 142,208 $ 8,284 $ 221,022 $ 23,473,324 Real estate: Commercial 24,712,643 319,099 31,733 1,069,280 26,132,755 Residential builder and developer 1,400,437 2,904 — 3,005 1,406,346 Other commercial construction 7,722,049 17,175 — 111,405 7,850,629 Residential 13,294,872 239,561 920,080 355,858 14,810,371 Residential — limited documentation 1,124,520 16,666 — 122,888 1,264,074 Consumer: Home equity lines and loans 3,476,617 15,486 — 70,488 3,562,591 Recreational finance 7,985,173 40,544 — 27,811 8,053,528 Automobile 4,604,772 40,064 — 34,037 4,678,873 Other 1,620,147 12,223 3,302 44,289 1,679,961 Total $ 89,043,040 $ 845,930 $ 963,399 $ 2,060,083 $ 92,912,452 At March 31, 2022 and December 31, 2021, the Company had $445 million and $1.2 billion, respectively, of outstanding loan balances, consisting predominantly of residential real estate loans, for which COVID-19 related payment deferrals were granted. Those loans met the criteria described in note 1 of Notes to Financial Statements in the 2021 Annual Report and, accordingly, are not considered past due or otherwise in default of loan terms as of the date presented. Included in those loan balances were $323 million and $974 million of government-guaranteed loans at March 31, 2022 and December 31, 2021, respectively. Payment deferrals are generally scheduled to expire in 2022 and/or are in the process of formal modification of repayment terms for previously deferred payments. 4. Loans and leases and the allowance for credit losses, continued One-to-four family residential mortgage loans held for sale were $238 million and $474 million at March 31, 2022 and December 31, 2021, respectively. Commercial real estate loans held for sale were $216 million at March 31, 2022 and $425 million at December 31, 2021. Credit quality indicators The Company utilizes a loan grading system to differentiate risk amongst its commercial loans and commercial real estate loans. Loans with a lower expectation of default are assigned one of ten possible “pass” loan grades and are generally ascribed lower loss factors when determining the allowance for credit losses. Loans with an elevated level of credit risk are classified as “criticized” and are ascribed a higher loss factor when determining the allowance for credit losses. Criticized loans may be classified as “nonaccrual” if the Company no longer expects to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days or more. Line of business personnel in different geographic locations with support from and review by the Company’s credit risk personnel review and reassign loan grades based on their detailed knowledge of individual borrowers and their judgment of the impact on such borrowers resulting from changing conditions in their respective regions. Factors considered in assigning loan grades include borrower-specific information related to expected future cash flows and operating results, collateral values, geographic location, financial condition and performance, payment status, and other information. The Company’s policy is that at least annually, updated financial information be obtained from commercial borrowers associated with pass grade loans and additional analysis performed. On a quarterly basis, the Company’s centralized credit risk department reviews all criticized commercial loans and commercial real estate loans greater than $1 million to determine the appropriateness of the assigned loan grade, including whether the loan should be reported as accruing or nonaccruing. 4. Loans and leases and the allowance for credit losses, continued The following table summarizes the loan grades applied at March 31, 2022 to the various classes of the Company’s commercial loans and commercial real estate loans by origination year. Term Loans by Origination Year Revolving Revolving Loans Converted to Term 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Commercial, financial, leasing, etc.: Loan grades: Pass $ 1,055,017 4,113,672 1,587,360 1,244,516 804,066 1,672,521 11,620,841 21,332 $ 22,119,325 Criticized accrual 2,158 160,026 85,975 112,346 54,793 239,338 431,138 15,772 1,101,546 Criticized nonaccrual 230 32,442 23,377 16,306 25,381 62,888 108,064 6,458 275,146 Total commercial, financial, leasing, etc. $ 1,057,405 4,306,140 1,696,712 1,373,168 884,240 1,974,747 12,160,043 43,562 $ 23,496,017 Real estate: Commercial: Loan grades: Pass $ 841,183 2,820,491 2,575,823 3,515,526 2,680,777 6,945,820 802,747 — $ 20,182,367 Criticized accrual — 303,277 435,302 760,867 1,020,066 1,824,893 37,037 — 4,381,442 Criticized nonaccrual — 11,335 170,600 193,832 118,467 631,956 31,496 — 1,157,686 Total commercial real estate $ 841,183 3,135,103 3,181,725 4,470,225 3,819,310 9,402,669 871,280 — $ 25,721,495 Residential Loan grades: Pass $ 148,495 693,998 72,171 65,188 48,524 13,301 203,455 — $ 1,245,132 Criticized accrual — 3,848 6,430 109,729 13,360 63 3,609 — 137,039 Criticized nonaccrual — — — 2,909 — 7 — — 2,916 Total residential builder and developer $ 148,495 697,846 78,601 177,826 61,884 13,371 207,064 — $ 1,385,087 Other commercial construction: Loan grades: Pass $ 51,528 1,105,470 1,763,832 1,898,002 573,711 347,883 30,026 — $ 5,770,452 Criticized accrual 321 32,357 77,290 673,544 517,987 322,078 2,092 — 1,625,669 Criticized nonaccrual — — 106 10,634 3,392 32,254 4,469 — 50,855 Total other commercial construction $ 51,849 1,137,827 1,841,228 2,582,180 1,095,090 702,215 36,587 — $ 7,446,976 4. Loans and leases and the allowance for credit losses, continued The Company considers repayment performance a significant indicator of credit quality for its residential real estate loan and consumer loan portfolios. A summary of loans in accrual and nonaccrual status at March 31, 2022 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows. Term Loans by Origination Year Revolving Revolving Loans Converted to Term 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Residential: Current $ 1,166,092 2,822,922 1,657,789 992,754 403,896 6,044,813 38,428 — $ 13,126,694 30-89 days past due 3,136 19,193 10,756 5,952 6,882 201,254 2,558 — 249,731 Accruing loans days or more — 28,249 60,476 25,426 28,236 545,010 — — 687,397 Nonaccrual — 5,764 14,866 9,950 3,347 307,228 516 — 341,671 Total residential $ 1,169,228 2,876,128 1,743,887 1,034,082 442,361 7,098,305 41,502 — $ 14,405,493 Residential - limited documentation: Current $ — — — — — 1,050,328 — — $ 1,050,328 30-89 days past due — — — — — 16,546 — — 16,546 Accruing loans days or more — — — — — — — — — Nonaccrual — — — — — 123,512 — — 123,512 Total residential - limited documentation $ — — — — — 1,190,386 — — $ 1,190,386 Consumer: Home equity lines and loans: Current $ 70 382 762 2,648 1,480 36,016 2,249,108 1,117,492 $ 3,407,958 30-89 days past due — — — — — 935 574 15,430 16,939 Accruing loans days or more — — — — — — — — — Nonaccrual — 15 — — — 5,445 4,772 61,257 71,489 Total home equity lines and loans $ 70 397 762 2,648 1,480 42,396 2,254,454 1,194,179 $ 3,496,386 Recreational finance: Current $ 703,845 2,719,675 1,938,655 1,175,424 602,683 1,016,086 — — $ 8,156,368 30-89 days past due 88 5,701 7,647 6,930 4,076 8,651 — — 33,093 Accruing loans days or more — — — — — — — — — Nonaccrual — 2,664 6,270 5,907 5,017 11,688 — — 31,546 Total recreational finance $ 703,933 2,728,040 1,952,572 1,188,261 611,776 1,036,425 — — $ 8,221,007 Automobile: Current $ 567,597 2,052,558 981,264 575,505 289,345 222,244 — — $ 4,688,513 30-89 days past due 288 7,968 5,104 6,824 5,022 6,501 — — 31,707 Accruing loans days or more — — — — — — — — — Nonaccrual — 3,756 5,904 8,199 7,171 10,320 — — 35,350 Total automobile $ 567,885 2,064,282 992,272 590,528 301,538 239,065 — — $ 4,755,570 Other: Current $ 56,511 222,946 85,462 61,479 19,075 26,925 1,158,065 1,444 $ 1,631,907 30-89 days past due 2,187 907 369 489 166 5,814 — 373 10,305 Accruing loans days or more — — — — — 3,703 — — 3,703 Nonaccrual 1,538 883 203 370 144 266 40,552 104 44,060 Total other $ 60,236 224,736 86,034 62,338 19,385 36,708 1,198,617 1,921 $ 1,689,975 Total loans and leases at March 31, 2022 $ 4,600,284 17,170,499 11,573,793 11,481,256 7,237,064 21,736,287 16,769,547 1,239,662 $ 91,808,392 4. Loans and leases and the allowance for credit losses, continued The following table summarizes the loan grades applied at December 31, 2021 to the various classes of the Company’s commercial loans and commercial real estate loans by origination year. Term Loans by Origination Year Revolving Revolving Loans Converted to Term 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial, financial, leasing, etc.: Loan grades: Pass $ 4,798,052 1,916,072 1,476,786 951,881 500,615 1,398,775 10,993,461 18,699 $ 22,054,341 Criticized accrual 196,680 98,595 107,010 73,126 36,232 185,935 484,755 15,628 1,197,961 Criticized nonaccrual 19,462 23,229 17,114 39,908 20,927 33,698 60,175 6,509 221,022 Total commercial, financial, leasing, etc. $ 5,014,194 2,037,896 1,600,910 1,064,915 557,774 1,618,408 11,538,391 40,836 $ 23,473,324 Real estate: Commercial: Loan grades: Pass $ 3,413,587 2,662,999 3,682,178 2,648,388 2,076,155 5,232,790 728,948 — $ 20,445,045 Criticized accrual 133,133 480,146 685,701 1,068,552 468,530 1,743,798 38,570 — 4,618,430 Criticized nonaccrual 21,587 133,560 195,084 83,857 76,628 520,473 38,091 — 1,069,280 Total commercial real estate $ 3,568,307 3,276,705 4,562,963 3,800,797 2,621,313 7,497,061 805,609 — $ 26,132,755 Residential builder and developer: Loan grades: Pass $ 786,983 106,510 75,287 47,587 4,680 12,450 230,017 — $ 1,263,514 Criticized accrual 2,055 5,356 117,258 13,637 630 — 891 — 139,827 Criticized nonaccrual — — 2,910 — — 95 — — 3,005 Total residential builder and developer $ 789,038 111,866 195,455 61,224 5,310 12,545 230,908 — $ 1,406,346 Other commercial construction: Loan grades: Pass $ 957,947 1,781,603 2,022,276 832,547 152,669 273,556 38,781 — $ 6,059,379 Criticized accrual 24,103 54,191 675,226 583,428 228,739 114,158 — — 1,679,845 Criticized nonaccrual — — 71,613 3,303 12,263 19,970 4,256 — 111,405 Total other commercial construction $ 982,050 1,835,794 2,769,115 1,419,278 393,671 407,684 43,037 — $ 7,850,629 4. Loans and leases and the allowance for credit losses, continued A summary of loans in accrual and nonaccrual status at December 31, 2021 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows. Term Loans by Origination Year Revolving Revolving Loans Converted to Term 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Residential: Current $ 3,057,118 1,672,090 1,075,896 466,040 1,037,958 5,913,461 72,309 — $ 13,294,872 30-89 15,245 12,535 9,886 6,132 33,097 162,666 — — 239,561 Accruing 90 days or more 10,924 100,581 28,512 31,996 205,318 542,749 — — 920,080 Nonaccrual 3,359 19,858 7,119 4,577 5,890 314,792 263 — 355,858 Total residential $ 3,086,646 1,805,064 1,121,413 508,745 1,282,263 6,933,668 72,572 — $ 14,810,371 Residential - limited documentation: Current $ — — — — — 1,124,520 — — $ 1,124,520 30-89 — — — — — 16,666 — — 16,666 Accruing 90 days or more — — — — — — — — — Nonaccrual — — — — — 122,888 — — 122,888 Total residential - limited documentation $ — — — — — 1,264,074 — — $ 1,264,074 Consumer: Home equity lines and loans: Current $ 304 777 2,793 1,730 1,944 38,015 2,348,279 1,082,775 $ 3,476,617 30-89 — — — 21 — 698 346 14,421 15,486 Accruing 90 days or more — — — — — — — — — Nonaccrual — — — — — 5,750 4,951 59,787 70,488 Total home equity lines and loans $ 304 777 2,793 1,751 1,944 44,463 2,353,576 1,156,983 $ 3,562,591 Recreational finance: Current $ 2,890,111 2,088,342 1,267,929 646,883 445,868 646,040 — — $ 7,985,173 30-89 5,929 8,912 8,317 5,074 5,189 7,123 — — 40,544 Accruing 90 days or more — — — — — — — — — Nonaccrual 1,341 4,646 4,871 4,918 4,039 7,996 — — 27,811 Total recreational finance $ 2,897,381 2,101,900 1,281,117 656,875 455,096 661,159 — — $ 8,053,528 Automobile: Current $ 2,220,061 1,097,684 662,000 341,655 211,774 71,598 — — $ 4,604,772 30-89 8,508 6,615 8,936 7,161 5,715 3,129 — — 40,064 Accruing 90 days or more — — — — — — — — — Nonaccrual 1,588 4,390 7,847 7,867 6,882 5,463 — — 34,037 Total automobile $ 2,230,157 1,108,689 678,783 356,683 224,371 80,190 — — $ 4,678,873 Other: Current $ 244,346 96,945 73,586 24,424 16,924 14,321 1,148,096 1,505 $ 1,620,147 30-89 2,937 404 472 255 101 5,712 1,908 434 12,223 Accruing 90 days or more — — — — — 3,302 — — 3,302 Nonaccrual 2,051 326 326 193 104 353 40,807 129 44,289 Total other $ 249,334 97,675 74,384 24,872 17,129 23,688 1,190,811 2,068 $ 1,679,961 Total loans and leases at December 31, 2021 $ 18,817,411 12,376,366 12,286,933 7,895,140 5,558,871 18,542,940 16,234,904 1,199,887 $ 92,912,452 4. Loans and leases and the allowance for credit losses, continued Allowance for credit losses For purposes of determining the level of the allowance for credit losses, the Company evaluates its loan and lease portfolio by type. Changes in the allowance for credit losses for the three months ended March 31, 2022 and 2021 were as follows: Commercial, Financial, Real Estate Leasing, etc. Commercial Residential Consumer Total (In thousands) Three Months Ended March 31, 2022 Beginning balance $ 283,899 557,239 71,726 556,362 $ 1,469,226 Provision for credit losses 28,725 (30,938 ) 1,720 10,493 10,000 Net charge-offs Charge-offs (19,234 ) (1,800 ) (3,972 ) (26,032 ) (51,038 ) Recoveries 13,665 14,943 3,107 12,456 44,171 Net (charge-offs) recoveries (5,569 ) 13,143 (865 ) (13,576 ) (6,867 ) Ending balance $ 307,055 539,444 72,581 553,279 $ 1,472,359 Three Months Ended March 31, 2021 Beginning balance $ 405,846 670,719 103,590 556,232 $ 1,736,387 Provision for credit losses (72,418 ) 99,471 (13,435 ) (38,618 ) (25,000 ) Net charge-offs Charge-offs (26,945 ) (60,652 ) (2,399 ) (32,929 ) (122,925 ) Recoveries 22,511 6,560 2,033 16,640 47,744 Net charge-offs (4,434 ) (54,092 ) (366 ) (16,289 ) (75,181 ) Ending balance $ 328,994 716,098 89,789 501,325 $ 1,636,206 4. Loans and leases and the allowance for credit losses, continued Despite the allocation in the preceding tables, the allowance for credit losses is general in nature and is available to absorb losses from any loan or lease type. In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. The Company utilizes statistically developed models to project principal balances over the remaining contractual lives of the loan portfolios and to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance, can inform the models, which have been statistically developed based on historical correlations of credit losses with prevailing economic metrics, including unemployment, gross domestic product and real estate prices. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At both March 31, 2022 and December 31, 2021, the Company utilized a reasonable and supportable forecast period of two years. Subsequent to this forecast period the Company reverted, ratably over a one-year period, to historical loss experience to inform its estimate of losses for the remaining contractual life of each portfolio. The Company also estimates losses attributable to specific troubled credits identified through both normal and targeted credit review processes. The amounts of specific loss components in the Company’s loan and lease portfolios are determined through a loan-by-loan analysis of larger balance commercial loans and commercial real estate loans that are in nonaccrual status. Such loss estimates are typically based on expected future cash flows, collateral values and other factors that may impact the borrower’s ability to pay. To the extent that those loans are collateral-dependent, they are evaluated based on the fair value of the loan’s collateral as estimated at or near the financial statement date. As the quality of a loan deteriorates to the point of classifying the loan as “criticized,” the process of obtaining updated collateral valuation information is usually initiated, unless it is not considered warranted given factors such as the relative size of the loan, the characteristics of the collateral or the age of the last valuation. In those cases where current appraisals may not yet be available, prior appraisals are utilized with adjustments, as deemed necessary, for estimates of subsequent declines in values as determined by line of business and/or loan workout personnel. Those adjustments are reviewed and assessed for reasonableness by the Company’s credit risk personnel. Accordingly, for real estate collateral securing larger nonaccrual commercial loans and commercial real estate loans, estimated collateral values are based on current appraisals and estimates of value. For non-real estate loans, collateral is assigned a discounted estimated liquidation value and, depending on the nature of the collateral, is verified through field exams or other procedures. In assessing collateral, real estate and non-real estate values are reduced by an estimate of selling costs. For residential real estate loans, including home equity loans and lines of credit, the excess of the loan balance over the net realizable value of the property collateralizing the loan is charged-off when the loan becomes 150 days delinquent. That charge-off is based on recent indications of value from external parties that are generally obtained shortly after a loan becomes nonaccrual. Loans to consumers that file for bankruptcy are generally charged-off to estimated net collateral value shortly after the Company is notified of such filings. When evaluating individual home equity loans and lines of credit for charge off and for purposes of estimating losses in determining the allowance for credit losses, the Company gives consideration to the required repayment of any first lien positions related to collateral property. Modified loans, including smaller balance homogenous loans, that are considered to be troubled debt restructurings are evaluated for impairment giving consideration to the impact of the modified loan terms on the present value of the loan’s expected cash flows. Changes in the amount of the allowance for credit losses reflect the outcome of the procedures described herein, including the impact of changes in macroeconomic forecasts as compared with previous forecasts, as well as the impact of portfolio concentrations, imprecision in economic forecasts, geopolitical conditions and other risk factors that might influence the loss estimation process. The Company’s reserve for off-balance sheet credit exposures was not material at March 31, 2022 and December 31, 2021. 4. Loans and leases and the allowance for credit losses, continued Information with respect to loans and leases that were considered nonaccrual at the beginning and end of the reporting period and the interest income recognized on such loans for the three-month periods ended March 31, 2022 and 2021 follows. March 31, 2022 January 1, 2022 Three Months Ended March 31, 2022 Amortized Cost with Allowance Amortized Cost Total Amortized Cost Interest Income Recognized (In thousands) Commercial, financial, leasing, etc. $ 171,322 $ 103,824 $ 275,146 $ 221,022 $ 13,594 Real estate: Commercial 222,771 934,915 1,157,686 1,069,280 6,131 Residential builder and developer 524 2,392 2,916 3,005 1,428 Other commercial construction 29,914 20,941 50,855 111,405 626 Residential 191,495 150,176 341,671 355,858 6,541 Residential — limited documentation 80,590 42,922 123,512 122,888 196 Consumer: Home equity lines and loans 32,783 38,706 71,489 70,488 809 Recreational finance 24,350 7,196 31,546 27,811 161 Automobile 30,129 5,221 35,350 34,037 38 Other 43,964 96 44,060 44,289 92 Total $ 827,842 $ 1,306,389 $ 2,134,231 $ 2,060,083 $ 29,616 March 31, 2021 January 1, 2021 Three Months Ended March 31, 2021 Amortized Cost with Allowance Amortized Cost Total Amortized Cost Interest Income Recognized (In thousands) Commercial, financial, leasing, etc. $ 211,894 $ 83,175 $ 295,069 $ 306,827 $ 3,085 Real estate: Commercial 337,036 487,043 824,079 775,894 1,658 Residential builder and developer 1,224 — 1,224 1,094 33 Other commercial construction 24,186 102,039 126,225 114,039 41 Residential 186,374 199,134 385,508 365,729 4,498 Residential — limited documentation 84,342 58,727 143,069 147,170 79 Consumer: Home equity lines and loans 44,548 34,640 79,188 79,392 952 Recreational finance 19,657 7,561 27,218 25,519 155 Automobile 33,270 4,949 38,219 39,404 49 Other 2,864 34,443 37,307 38,231 180 Total $ 945,395 $ 1,011,711 $ 1,957,106 $ 1,893,299 $ 10,730 4. Loans and leases and the allowance for credit losses, continued Loan modifications During the normal course of business, the Company modifies loans to maximize recovery efforts. If the borrower is experiencing financial difficulty and a concession is granted, the Company considers such modifications as troubled debt restructurings and classifies those loans as either nonaccrual loans or renegotiated loans. The types of concessions that the Company grants typically include principal deferrals and interest rate concessions, but may also include other types of concessions. The table that follows summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the three-month periods ended March 31, 2022 and 2021: Post-modification (a) Number Pre- modification Recorded Investment Principal Deferral Interest Rate Reduction Other Combination of Concession Types Total Three Months Ended March 31, 2022 (Dollars in thousands) Commercial, financial, leasing, etc. 37 $ 10,003 $ 6,920 $ — $ 54 $ 2,780 $ 9,754 Real estate: Commercial 17 7,582 4,376 — 2,101 855 7,332 Residential 97 24,051 15,443 — — 9,961 25,404 Residential — limited documentation 5 1,076 894 — — 193 1,087 Consumer: Home equity lines and loans 35 2,150 1,988 — — 172 2,160 Recreational finance 177 5,997 5,990 — — — 5,990 Automobile 534 10,263 10,233 — — — 10,233 Other 33 334 334 — — — 334 Total 935 $ 61,456 $ 46,178 $ — $ 2,155 $ 13,961 $ 62,294 Three Months Ended March 31, 2021 Commercial, financial, leasing, etc. 93 $ 53,733 $ 24,653 $ — $ — $ 28,504 $ 53,157 Real estate: Commercial 33 26,870 11,160 — 2,214 12,422 25,796 Residential 123 39,583 38,557 — — 1,117 39,674 Residential — limited documentation 10 1,116 1,059 — — — 1,059 Consumer: Home equity lines and loans 26 1,715 1,486 — — 174 1,660 Recreational finance 72 2,212 2,212 — — — 2,212 Automobile 276 4,969 4,955 — — 14 4,969 Other 222 1,434 1,434 — — — 1,434 Total 855 $ 131,632 $ 85,516 $ — $ 2,214 $ 42,231 $ 129,961 (a) Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. The present value of interest rate concessions, discounted at the effective rate of the original loan, was not material. 4. Loans and leases and the allowance for credit losses, continued Troubled debt restructurings are evaluated for impairment giving consideration to the impact of the modified loan terms on the present value of the loan’s expected cash flows. Impairment of troubled debt restructurings that have subsequently defaulted may also be measured based on the loan’s observable market price or the fair value of collateral if the loan is collateral-dependent. Charge-offs may also be recognized on troubled debt restructurings that have subsequently defaulted. Loans that were modified as troubled debt restructurings during the twelve months ended March 31, 2022 and 2021 and for which there was a subsequent payment default during the three-month periods ended March 31, 2022 and 2021, respectively, were not material. The amount of foreclosed residential real estate property held by the Company was |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
Borrowings | 5. Borrowings M&T had $533 million of fixed and variable rate junior subordinated deferrable interest debentures ("Junior Subordinated Debentures") outstanding at March 31, 2022 that are held by various trusts that were issued in connection with the issuance by those trusts of preferred capital securities ("Capital Securities") and common securities ("Common Securities"). The proceeds from the issuances of the Capital Securities and the Common Securities were used by the trusts to purchase the Junior Subordinated Debentures. The Common Securities of each of those trusts are wholly owned by M&T and are the only class of each trust's securities possessing general voting powers. The Capital Securities represent preferred undivided interests in the assets of the corresponding trust. Under the Federal Reserve Board’s risk-based capital guidelines, the securities are includable in M&T’s Tier 2 regulatory capital. Holders of the Capital Securities receive preferential cumulative cash distributions unless M&T exercises its right to extend the payment of interest on the Junior Subordinated Debentures as allowed by the terms of each such debenture, in which case payment of distributions on the respective Capital Securities will be deferred for comparable periods. During an extended interest period, M&T may not pay dividends or distributions on, or repurchase, redeem or acquire any shares of its capital stock. In general, the agreements governing the Capital Securities, in the aggregate, provide a full, irrevocable and unconditional guarantee by M&T of the payment of distributions on, the redemption of, and any liquidation distribution with respect to the Capital Securities. The obligations under such guarantee and the Capital Securities are subordinate and junior in right of payment to all senior indebtedness of M&T. The Capital Securities will remain outstanding until the Junior Subordinated Debentures are repaid at maturity, are redeemed prior to maturity or are distributed in liquidation to the trusts. The Capital Securities are mandatorily redeemable in whole, but not in part, upon repayment at the stated maturity dates (ranging from 2027 to 2033) of the Junior Subordinated Debentures or the earlier redemption of the Junior Subordinated Debentures in whole upon the occurrence of one or more events set forth in the indentures relating to the Capital Securities, and in whole or in part at any time after an optional redemption prior to contractual maturity contemporaneously with the optional redemption of the related Junior Subordinated Debentures in whole or in part, subject to possible regulatory approval. |
Revenue from contracts with cus
Revenue from contracts with customers | 3 Months Ended |
Mar. 31, 2022 | |
Revenue From Contract With Customer [Abstract] | |
Revenue from contracts with customers | 6. Revenue from contracts with customers The Company generally charges customer accounts or otherwise bills customers upon completion of its services. Typically the Company’s contracts with customers have a duration of one year or less and payment for services is received at least annually, but oftentimes more frequently as services are provided. At March 31, 2022 and December 31, 2021, the Company had $67 million and $68 million, respectively, of amounts receivable related to recognized revenue from the sources in the accompanying tables. Such amounts are classified in accrued interest and other assets in the Company’s consolidated balance sheet. In certain situations the Company is paid in advance of providing services and defers the recognition of revenue until its service obligation is satisfied. At each of March 31, 2022 and December 31, 2021, the Company had deferred revenue of $45 million related to the sources in the accompanying tables recorded in accrued interest and other liabilities in the consolidated balance sheet. The following tables summarize sources of the Company’s noninterest income during the three-month periods ended March 31, 2022 and 2021 that are subject to the revenue recognition accounting guidance. Business Banking Commercial Banking Commercial Real Estate Discretionary Portfolio Residential Mortgage Banking Retail Banking All Other Total Three Months Ended March 31, 2022 (In thousands) Classification in consolidated statement of income Service charges on deposit accounts $ 14,681 25,571 3,478 — — 56,347 1,430 $ 101,507 Trust income — — — — — — 169,213 169,213 Brokerage services income — — — — — — 20,190 20,190 Other revenues from operations: Merchant discount and credit card fees 12,805 13,459 874 — — 4,510 107 31,755 Other — 1,903 2,464 693 1,729 5,099 12,891 24,779 $ 27,486 40,933 6,816 693 1,729 65,956 203,831 $ 347,444 Three Months Ended March 31, 2021 Classification in consolidated statement of income Service charges on deposit accounts $ 12,497 24,295 2,893 — — 51,452 1,640 $ 92,777 Trust income — — — — — — 156,022 156,022 Brokerage services income — — — — — — 13,113 13,113 Other revenues from operations: Merchant discount and credit card fees 9,481 10,407 445 — — 3,921 109 24,363 Other — 958 1,091 384 1,722 5,807 12,948 22,910 $ 21,978 35,660 4,429 384 1,722 61,180 183,832 $ 309,185 |
Pension plans and other postret
Pension plans and other postretirement benefits | 3 Months Ended |
Mar. 31, 2022 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension plans and other postretirement benefits | 7. Pension plans and other postretirement benefits The Company provides defined benefit pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees. Net periodic defined benefit cost for defined benefit plans consisted of the following: Pension Benefits Other Postretirement Benefits Three Months Ended March 31 2022 2021 2022 2021 (In thousands) Service cost $ 4,271 $ 5,023 $ 232 $ 248 Interest cost on projected benefit obligation 16,267 15,434 355 327 Expected return on plan assets (37,150 ) (35,950 ) — — Amortization of prior service cost (credit) 125 125 (1,075 ) (1,175 ) Amortization of net actuarial loss (gain) 4,625 22,150 (325 ) (300 ) Net periodic cost (benefit) $ (11,862 ) $ 6,782 $ (813 ) $ (900 ) Service cost is reflected in salaries and employee benefits expense in the consolidated statement of income. The other components of net periodic benefit cost are reflected in other costs of operations. Expenses incurred in connection with the Company's defined contribution pension and retirement savings plans totaled $31 million and $33 million for the three months ended March 31, 2022 and 2021, respectively, and are included in salaries and employee benefits expense. |
Earnings per common share
Earnings per common share | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Earnings per common share | 8. Earnings per common share The computations of basic earnings per common share follow: Three Months Ended March 31 2022 2021 (In thousands, except per share) Income available to common shareholders: Net income $ 362,174 $ 447,249 Less: Preferred stock dividends (21,765 ) (17,050 ) Net income available to common equity 340,409 430,199 Less: Income attributable to unvested stock-based compensation awards (820 ) (2,108 ) Net income available to common shareholders $ 339,589 $ 428,091 Weighted-average shares outstanding: Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards 129,274 129,414 Less: Unvested stock-based compensation awards (329 ) (877 ) Weighted-average shares outstanding 128,945 128,537 Basic earnings per common share $ 2.63 $ 3.33 8. Earnings per common share, continued The computations of diluted earnings per common share follow: Three Months Ended March 31 2022 2021 (In thousands, except per share) Net income available to common equity $ 340,409 $ 430,199 Less: Income attributable to unvested stock-based compensation awards (819 ) (2,106 ) Net income available to common shareholders $ 339,590 $ 428,093 Adjusted weighted-average shares outstanding: Common and unvested stock-based compensation awards 129,274 129,414 Less: Unvested stock-based compensation awards (329 ) (877 ) Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock 471 132 Adjusted weighted-average shares outstanding 129,416 128,669 Diluted earnings per common share $ 2.62 $ 3.33 GAAP defines unvested share-based awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) as participating securities that shall be included in the computation of earnings per common share pursuant to the two-class method. The Company has issued stock-based compensation awards in the form of restricted stock and restricted stock units which, in accordance with GAAP, are considered participating securities. Stock-based compensation awards to purchase common stock of M&T representing 114,226 and 462,342 common shares during the three-month periods ended March 31, 2022 and 2021, respectively, were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive. |
Comprehensive income
Comprehensive income | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Comprehensive income | 9. Comprehensive income The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income: Investment Defined Benefit Total Amount Income Securities Plans Other Before Tax Tax Net (In thousands) Balance — January 1, 2022 $ 104,691 (360,276 ) 83,531 $ (172,054 ) 44,476 $ (127,578 ) Other comprehensive income (loss) before reclassifications: Unrealized holding losses, net (184,955 ) — — (184,955 ) 47,758 (137,197 ) Foreign currency translation adjustment — — (2,123 ) (2,123 ) 475 (1,648 ) Unrealized losses on cash flow hedges — — (115,724 ) (115,724 ) 29,885 (85,839 ) Total other comprehensive income (loss) before reclassifications (184,955 ) — (117,847 ) (302,802 ) 78,118 (224,684 ) Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: Amortization of unrealized holding losses on held-to-maturity securities 1,119 — — 1,119 (a) (289 ) 830 Gains realized in net income — — — — (b) — — Accretion of net gain on terminated cash flow hedges — — (30 ) (30 ) (c) 9 (21 ) Net yield adjustment from cash flow hedges currently in effect — — (38,019 ) (38,019 ) (a) 9,818 (28,201 ) Amortization of prior service credit — (950 ) — (950 ) (d) 305 (645 ) Amortization of actuarial losses — 4,300 — 4,300 (d) (1,386 ) 2,914 Total other comprehensive income (loss) (183,836 ) 3,350 (155,896 ) (336,382 ) 86,575 (249,807 ) Balance — March 31, 2022 $ (79,145 ) (356,926 ) (72,365 ) $ (508,436 ) 131,051 $ (377,385 ) Balance — January 1, 2021 $ 195,386 (650,087 ) 369,558 $ (85,143 ) 22,111 $ (63,032 ) Other comprehensive income (loss) before reclassifications: Unrealized holding losses, net (32,025 ) — — (32,025 ) 8,907 (23,118 ) Foreign currency translation adjustment — — 684 684 (136 ) 548 Unrealized losses on cash flow hedges — — (9,498 ) (9,498 ) 2,571 (6,927 ) Total other comprehensive income (loss) before reclassifications (32,025 ) — (8,814 ) (40,839 ) 11,342 (29,497 ) Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: Amortization of unrealized holding losses on held-to-maturity securities 990 — — 990 (a) (276 ) 714 Gains realized in net income (3 ) — — (3 ) (b) 1 (2 ) Accretion of net gain on terminated cash flow hedges — — (30 ) (30 ) (c) 9 (21 ) Net yield adjustment from cash flow hedges currently in effect — — (82,044 ) (82,044 ) (a) 22,215 (59,829 ) Amortization of prior service credit — (1,050 ) — (1,050 ) (d) 384 (666 ) Amortization of actuarial losses — 21,850 — 21,850 (d) (7,995 ) 13,855 Total other comprehensive income (loss) (31,038 ) 20,800 (90,888 ) (101,126 ) 25,680 (75,446 ) Balance — March 31, 2021 $ 164,348 (629,287 ) 278,670 $ (186,269 ) 47,791 $ (138,478 ) (a) Included in interest income. (b) Included in gain (loss) on bank investment securities. (c) Included in interest expense. (d) Included in other costs of operations. 9. Comprehensive income, continued Accumulated other comprehensive income (loss), net consisted of the following: Defined Investment Benefit Securities Plans Other Total (In thousands) Balance — December 31, 2021 $ 77,625 $ (267,145 ) $ 61,942 $ (127,578 ) Net gain (loss) during period (136,367 ) 2,269 (115,709 ) (249,807 ) Balance — March 31, 2022 $ (58,742 ) $ (264,876 ) $ (53,767 ) $ (377,385 ) |
Derivative financial instrument
Derivative financial instruments | 3 Months Ended |
Mar. 31, 2022 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative financial instruments | 10. Derivative financial instruments As part of managing interest rate risk, the Company enters into interest rate swap agreements to modify the repricing characteristics of certain portions of the Company’s portfolios of earning assets and interest-bearing liabilities. The Company designates interest rate swap agreements utilized in the management of interest rate risk as either fair value hedges or cash flow hedges. Interest rate swap agreements are generally entered into with counterparties that meet established credit standards and most contain master netting, collateral and/or settlement provisions protecting the at-risk party. Based on adherence to the Company’s credit standards and the presence of the netting, collateral or settlement provisions, the Company believes that the credit risk inherent in these contracts was not material as of March 31, 2022. The net effect of interest rate swap agreements was to increase net interest income by $47 million and $91 million during the three-month periods ended March 31, 2022 and 2021, respectively. Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows: Weighted- Estimated Notional Average Average Rate Fair Value Amount Maturity Fixed Variable Gain (In thousands) (In (In March 31, 2022 Fair value hedges: Fixed rate long-term borrowings (b) $ 1,650,000 2.1 2.86 % 1.09 % $ 1,022 Cash flow hedges: Interest payments on variable rate commercial real estate loans (b)(c) 19,000,000 0.9 1.31 % 0.35 % 2,819 Total $ 20,650,000 1.0 $ 3,841 December 31, 2021 Fair value hedges: Fixed rate long-term borrowings (b) $ 1,650,000 2.3 2.86 % 0.74 % $ 41 Cash flow hedges: Interest payments on variable rate commercial real estate loans (b)(d) 21,700,000 0.6 1.24 % 0.09 % (248 ) Total $ 23,350,000 0.7 $ (207 ) (a) Certain clearinghouse exchanges consider payments by counterparties for variation margin on derivative instruments to be settlements of those positions. The impact of such payments for interest rate swap agreements designated as fair value hedges was a net settlement of losses of $782,000 at March 31, 2022 and a net settlement of gains of $43.5 million at December 31, 2021. The impact of such payments on interest rate swap agreements designated as cash flow hedges was a net settlement of losses of $68.7 million at March 31, 2022 and net settlement of gains of $88.2 million at December 31, 2021. (b) Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate. (c) (d) . 10. Derivative financial instruments, continued The Company utilizes commitments to sell residential and commercial real estate loans to hedge the exposure to changes in the fair value of real estate loans held for sale. Such commitments have generally been designated as fair value hedges. The Company also utilizes commitments to sell real estate loans to offset the exposure to changes in fair value of certain commitments to originate real estate loans for sale. Derivative financial instruments used for trading account purposes included interest rate contracts, foreign exchange and other option contracts, foreign exchange forward and spot contracts, and financial futures. Interest rate contracts entered into for trading account purposes had notional values of $31.8 billion and $32.6 billion at March 31, 2022 and December 31, 2021, respectively. The notional amounts of foreign currency and other option and futures contracts entered into for trading account purposes aggregated $1.3 billion and $1.1 billion at March 31, 2022 and December 31, 2021, respectively. Information about the fair values of derivative instruments in the Company’s consolidated balance sheet and consolidated statement of income follows: Asset Derivatives Liability Derivatives Fair Value Fair Value March 31, December 31, March 31, December 31, 2022 2021 2022 2021 (In thousands) Derivatives designated and qualifying as hedging instruments Interest rate swap agreements (a) $ 4,298 $ 258 $ 457 $ 465 Commitments to sell real estate loans (a) 10,002 4,044 74 548 14,300 4,302 531 1,013 Derivatives not designated and qualifying as hedging instruments Mortgage-related commitments to originate real estate loans for sale (a) 1,319 11,728 16,747 5,288 Commitments to sell real estate loans (a) 26,680 8,137 799 4,108 Trading: Interest rate contracts (b) 141,066 410,056 292,873 76,278 Foreign exchange and other option and futures contracts (b) 9,637 8,230 9,633 7,156 178,702 438,151 320,052 92,830 Total derivatives $ 193,002 $ 442,453 $ 320,583 $ 93,843 (a) Asset derivatives are reported in other assets and liability derivatives are reported in other liabilities. (b) Asset derivatives are reported in trading account assets and liability derivatives are reported in other liabilities. The impact of variation margin payments at March 31, 2022 and December 31, 2021 was a reduction of the estimated fair value of interest rate contracts in the trading account in an asset position of $277.6 million and $54.4 million, respectively, and in a liability position of $45.9 million and $305.1 million, respectively. Amount of Gain (Loss) Recognized Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Derivative Hedged Item Derivative Hedged Item (In thousands) Derivatives in fair value hedging relationships Interest rate swap agreements: Fixed rate long-term borrowings (a) $ (43,273 ) 42,998 $ (32,658 ) 31,898 Derivatives not designated as hedging instruments Trading: Interest rate contracts (b) $ 106 $ (3,234 ) Foreign exchange and other option and futures contracts (b) 1,746 1,608 Total $ 1,852 $ (1,626 ) (a) Reported as an adjustment to interest expense. (b) Reported as trading account and foreign exchange gains. 10. Derivative financial instruments, continued Carrying Amount of the Hedged Item Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount of the Hedged Item March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 (In thousands) Location in the of the Hedged Items in Fair Value Long-term debt $ 1,650,130 $ 1,692,943 $ 612 $ 43,610 The amount of interest income recognized in the consolidated statement of income associated with derivatives designated as cash flow hedges was $38 million and $82 million for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022 the unrealized net loss recognized in other comprehensive income related to cash flow hedges was $66 million, of which gains of $5 million and losses of $35 million and $36 million related to interest rate swap agreements maturing in 2022, 2023, and 2025, respectively. The Company also has commitments to sell and commitments to originate residential and commercial real estate loans that are considered derivatives. The Company designates certain of the commitments to sell real estate loans as fair value hedges of real estate loans held for sale. The Company also utilizes commitments to sell real estate loans to offset the exposure to changes in the fair value of certain commitments to originate real estate loans for sale. As a result of these activities, net unrealized pre-tax gains related to hedged loans held for sale, commitments to originate loans for sale and commitments to sell loans were approximately $13 million and $24 million at March 31, 2022 and December 31, 2021, respectively. Changes in unrealized gains and losses are included in mortgage banking revenues and, in general, are realized in subsequent periods as the related loans are sold and commitments satisfied. The Company does not offset derivative asset and liability positions in its consolidated financial statements. The Company’s exposure to credit risk by entering into derivative contracts is mitigated through master netting agreements and collateral posting or settlement requirements. Master netting agreements covering interest rate and foreign exchange contracts with the same party include a right to set-off that becomes enforceable in the event of default, early termination or under other specific conditions. The aggregate fair value of derivative financial instruments in a liability position and the net liability positions with counterparties which are subject to master netting arrangements was $1 million and $35 million at March 31, 2022 and December 31, 2021, respectively. The Company was required to post collateral relating to those positions of $1 million and $33 million at March 31, 2022 and December 31, 2021, respectively. Certain of the Company’s derivative financial instruments contain provisions that require the Company to maintain specific credit ratings from credit rating agencies to avoid higher collateral posting requirements. If the Company’s debt rating were to fall below specified ratings, the counterparties of the derivative financial instruments could demand immediate incremental collateralization on those instruments in a net liability position. The aggregate fair value of all derivative financial instruments with such credit risk-related contingent features in a net liability position on March 31, 2022 was not material. The aggregate fair value of derivative financial instruments in an asset position and the net asset positions with counterparties which are subject to enforceable master netting arrangements was $83 10. Derivative financial instruments, continued In addition to the derivative contracts noted above, the Company clears certain derivative transactions through a clearinghouse, rather than directly with counterparties. Those transactions cleared through a clearinghouse require initial margin collateral and variation margin payments depending on the contracts being in a net asset or liability position. The amount of initial margin collateral posted by the Company was $133 million and $132 million at March 31, 2022 and December 31, 2021, respectively. The fair value asset and liability amounts of derivative contracts have been reduced by variation margin payments treated as settlements as described herein. Variation margin on derivative contracts not treated as settlements continues to represent collateral posted or received by the Company. |
Variable interest entities and
Variable interest entities and asset securitizations | 3 Months Ended |
Mar. 31, 2022 | |
Text Block [Abstract] | |
Variable interest entities and asset securitizations | 11. Variable interest entities and asset securitizations The Company’s securitization activity has consisted of securitizing loans originated for sale into government issued or guaranteed mortgage-backed securities. The Company has not recognized any losses as a result of having securitized assets. As described in note 5, M&T has issued junior subordinated debentures payable to various trusts that have issued Capital Securities. M&T owns the common securities of those trust entities. The Company is not considered to be the primary beneficiary of those entities and, accordingly, the trusts are not included in the Company’s consolidated financial statements. At each of March 31, 2022 and December 31, 2021, the Company included the junior subordinated debentures as “long-term borrowings” in its consolidated balance sheet and recognized $23 million in other assets for its “investment” in the common securities of the trusts that will be concomitantly repaid to M&T by the respective trust from the proceeds of M&T’s repayment of the junior subordinated debentures associated with preferred capital securities described in note 5. The Company has invested as a limited partner in various partnerships that collectively had total assets of approximately of $3.2 billion at March 31, 2022 and $3.0 billion at December 31, 2021. Those partnerships generally construct or acquire properties for which the investing partners are eligible to receive certain federal income tax credits in accordance with government guidelines. Such investments may also provide tax deductible losses to the partners. The partnership investments also assist the Company in achieving its community reinvestment initiatives. As a limited partner, there is no recourse to the Company by creditors of the partnerships. However, the tax credits that result from the Company’s investments in such partnerships are generally subject to recapture should a partnership fail to comply with the respective government regulations. The Company’s carrying amount of its investments in such partnerships was $906 million, including $343 million of unfunded commitments, at March 31, 2022 and $933 million, including $361 million of unfunded commitments, at December 31, 2021. Contingent commitments to provide additional capital contributions to these partnerships were not material at March 31, 2022. The Company has not provided financial or other support to the partnerships that was not contractually required. The Company’s maximum exposure to loss from its investments in such partnerships as of March 31, 2022 was $1.2 billion, including possible recapture of certain tax credits. Management currently estimates that no material losses are probable as a result of the Company’s involvement with such entities. The Company, in its position as limited partner, does not direct the activities that most significantly impact the economic performance of the partnerships and, therefore, in accordance with the accounting provisions for variable interest entities, the partnership entities are not included in the Company’s consolidated financial statements. The Company’s investment in qualified affordable housing projects is amortized to income taxes in the consolidated statement of income as tax credits and other tax benefits resulting from deductible losses associated with the projects are received. The Company serves as investment advisor for certain registered money-market funds. The Company has no explicit arrangement to provide support to those funds, but may waive portions of its allowable management fees as a result of market conditions . |
Fair value measurements
Fair value measurements | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | 12. Fair value measurements GAAP permits an entity to choose to measure eligible financial instruments and other items at fair value. The Company has not made any fair value elections at March 31, 2022. Pursuant to GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy exists in GAAP for fair value measurements based upon the inputs to the valuation of an asset or liability. • Level 1 — Valuation is based on quoted prices in active markets for identical assets and liabilities. • Level 2 — Valuation is determined from quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market. • Level 3 — Valuation is derived from model-based and other techniques in which at least one significant input is unobservable and which may be based on the Company's own estimates about the assumptions that market participants would use to value the asset or liability. When available, the Company attempts to use quoted market prices in active markets to determine fair value and classifies such items as Level 1 or Level 2. If quoted market prices in active markets are not available, fair value is often determined using model-based techniques incorporating various assumptions including interest rates, prepayment speeds and credit losses. Assets and liabilities valued using model-based techniques are classified as either Level 2 or Level 3, depending on the lowest level classification of an input that is considered significant to the overall valuation. The following is a description of the valuation methodologies used for the Company's assets and liabilities that are measured on a recurring basis at estimated fair value. Trading account assets and liabilities Trading account assets and liabilities consist primarily of interest rate contracts and foreign exchange contracts with customers who require such services with offsetting positions with third parties to minimize the Company's risk with respect to such transactions. The Company generally determines the fair value of its derivative trading account assets and liabilities using externally developed pricing models based on market observable inputs and, therefore, classifies such valuations as Level 2. Mutual funds held in connection with deferred compensation and other arrangements have been classified as Level 1 valuations. Valuations of investments in municipal and other bonds can generally be obtained through reference to quoted prices in less active markets for the same or similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2. Investment securities available for sale and equity securities The majority of the Company's available-for-sale investment securities have been valued by reference to prices for similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2. Certain investments in mutual funds and equity securities are actively traded and, therefore, have been classified as Level 1 valuations. Real estate loans held for sale The Company utilizes commitments to sell real estate loans to hedge the exposure to changes in fair value of real estate loans held for sale. The carrying value of hedged real estate loans held for sale includes changes in estimated fair value during the hedge period. Typically, the Company attempts to hedge real estate loans held for sale from the date of close through the sale date. The fair value of hedged real estate loans held for sale is generally calculated by reference to quoted prices in secondary markets for commitments to sell real estate loans with similar characteristics and, accordingly, such loans have been classified as a Level 2 valuation. 12. Fair value measurements, continued Commitments to originate real estate loans for sale and commitments to sell real estate loans The Company enters into various commitments to originate real estate loans for sale and commitments to sell real estate loans. Such commitments are considered to be derivative financial instruments and, therefore, are carried at estimated fair value on the consolidated balance sheet. The estimated fair values of such commitments were generally calculated by reference to quoted prices in secondary markets for commitments to sell real estate loans to certain government-sponsored entities and other parties. The fair valuations of commitments to sell real estate loans generally result in a Level 2 classification. The estimated fair value of commitments to originate real estate loans for sale are adjusted to reflect the Company's anticipated commitment expirations. The estimated commitment expirations are considered significant unobservable inputs contributing to the Level 3 classification of commitments to originate real estate loans for sale. Significant unobservable inputs used in the determination of estimated fair value of commitments to originate real estate loans for sale are included in the accompanying table of significant unobservable inputs to Level 3 measurements. Interest rate swap agreements used for interest rate risk management The Company utilizes interest rate swap agreements as part of the management of interest rate risk to modify the repricing characteristics of certain portions of its portfolios of earning assets and interest-bearing liabilities. The Company generally determines the fair value of its interest rate swap agreements using externally developed pricing models based on market observable inputs and, therefore, classifies such valuations as Level 2. The Company has considered counterparty credit risk in the valuation of its interest rate swap agreement assets and has considered its own credit risk in the valuation of its interest rate swap agreement liabilities. 12. Fair value measurements, continued The following tables present assets and liabilities at March 31, 2022 and December 31, 2021 measured at estimated fair value on a recurring basis: Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) March 31, 2022 Trading account assets $ 197,558 $ 46,655 $ 150,903 $ — Investment securities available for sale: U.S. Treasury and federal agencies 2,789,717 — 2,789,717 — Mortgage-backed securities: Government issued or guaranteed 2,795,177 — 2,795,177 — Other debt securities 120,305 — 120,305 — 5,705,199 — 5,705,199 — Equity securities 81,165 72,166 8,999 — Real estate loans held for sale 454,003 — 454,003 — Other assets (a) 42,299 — 40,980 1,319 Total assets $ 6,480,224 $ 118,821 $ 6,360,084 $ 1,319 Trading account liabilities $ 302,506 $ — $ 302,506 $ — Other liabilities (a) 18,077 — 1,330 16,747 Total liabilities $ 320,583 $ — $ 303,836 $ 16,747 December 31, 2021 Trading account assets $ 468,031 $ 49,545 $ 418,486 $ — Investment securities available for sale: U.S. Treasury and federal agencies 678,690 — 678,690 — Mortgage-backed securities: Government issued or guaranteed 3,155,312 — 3,155,312 — Other debt securities 121,802 — 121,802 — 3,955,804 — 3,955,804 — Equity securities 77,640 68,850 8,790 — Real estate loans held for sale 899,282 — 899,282 — Other assets (a) 24,167 — 12,439 11,728 Total assets $ 5,424,924 $ 118,395 $ 5,294,801 $ 11,728 Trading account liabilities $ 83,434 $ — $ 83,434 $ — Other liabilities (a) 10,409 — 5,121 5,288 Total liabilities $ 93,843 $ — $ 88,555 $ 5,288 (a) Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 3). 12. Fair value measurements, continued The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the three months ended March 31, 2022 and 2021 were as follows: Investment Securities Available for Sale Privately Issued Mortgage-Backed Other Assets 2022 (In thousands) Balance — January 1, 2022 $ — $ 6,440 Total gains realized/unrealized: Included in earnings — (18,700 ) (a) Transfers out of Level 3 — (3,168 ) (b) Balance — March 31, 2022 $ — (15,428 ) Changes in unrealized gains included in earnings related to assets still held at March 31, 2022 $ — $ (13,219 ) (a) 2021 Balance — January 1, 2021 $ 16 $ 43,234 Total gains realized/unrealized: Included in earnings — 6,025 (a) Transfers out of Level 3 — (35,502 ) (b) Balance — March 31, 2021 $ 16 13,757 Changes in unrealized gains included in earnings related to assets still held at March 31, 2021 $ — $ 5,300 (a) (a) Reported as mortgage banking revenues in the consolidated statement of income and includes the fair value of commitment issuances and expirations. (b) Transfers out of Level 3 consist of interest rate locks transferred to closed loans. The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The more significant of those assets follow. Loans Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectable portions of those loans. Nonrecurring adjustments also include certain impairment amounts for collateral-dependent loans when establishing the allowance for credit losses. Such amounts are generally based on the fair value of the underlying collateral supporting the loan and, as a result, the carrying value of the loan less the calculated valuation amount does not necessarily represent the fair value of the loan. Real estate collateral is typically valued using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace and the related nonrecurring fair value measurement adjustments have been classified as Level 2, unless significant adjustments have been made to the valuation that are not readily observable by market participants. Non-real estate collateral supporting commercial loans generally consists of business assets such as receivables, inventory and equipment. Fair value estimations are typically determined by discounting recorded values of those assets to reflect estimated net realizable value considering 12. Fair value measurements, continued March 31, 2022. As these discounts are not readily observable and are considered significant, the valuations have been classified as Level 3. Automobile collateral is typically valued by reference to independent pricing sources based on recent sales transactions of similar vehicles and, accordingly, the related nonrecurring fair value measurement adjustments have been classified as Level 2. Collateral values for other consumer installment loans are generally estimated based on historical recovery rates for similar types of loans which at March 31, 2022 was 67%. As these recovery rates are not readily observable by market participants, such valuation adjustments have been classified as Level 3. Loans subject to nonrecurring fair value measurement were $392 million at March 31, 2022 ($260 million and $132 million of which were classified as Level 2 and Level 3, respectively), $574 million at December 31, 2021 ($340 million and $234 million of which were classified as Level 2 and Level 3, respectively) and $658 million at March 31, 2021 ($357 million and $301 million of which were classified as Level 2 and Level 3, respectively). Changes in fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company on March 31, 2022 and 2021 were decreases of $46 million and $66 million for the three-month periods ended March 31, 2022 and 2021. Assets taken in foreclosure of defaulted loans Assets taken in foreclosure of defaulted loans are primarily comprised of commercial and residential real property and are generally measured at the lower of cost or fair value less costs to sell. The fair value of the real property is generally determined using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace and the related nonrecurring fair value measurement adjustments have generally been classified as Level 2. Assets taken into foreclosure of defaulted loans subject to nonrecurring fair value measurement were Capitalized servicing rights Capitalized servicing rights are initially measured at fair value in the Company’s consolidated balance sheet. The Company utilizes the amortization method to subsequently measure its capitalized servicing assets. In accordance with GAAP, the Company must record impairment charges, on a nonrecurring basis, when the carrying value of certain strata exceed their estimated fair value. To estimate the fair value of servicing rights, the Company considers market prices for similar assets, if available, and the present value of expected future cash flows associated with the servicing rights calculated using assumptions that market participants would use in estimating future servicing income and expense. Such assumptions include estimates of the cost of servicing loans, loan default rates, an appropriate discount rate, and prepayment speeds. For purposes of evaluating and measuring impairment of capitalized servicing rights, the Company stratifies such assets based on the predominant risk characteristics of the underlying financial instruments that are expected to have the most impact on projected prepayments, cost of servicing and other factors affecting future cash flows associated with the servicing rights. Such factors may include financial asset or loan type, note rate and term. The amount of impairment recognized is the amount by which the carrying value of the capitalized servicing rights for a stratum exceed estimated fair value. Impairment is recognized through a valuation allowance. The determination of fair value of capitalized servicing rights is considered a Level 3 valuation. Capitalized servicing rights related to residential mortgage loans of $133 million and $138 million at March 31, 2022 and December 31, 2021, respectively, required a valuation allowance of $21 million and $24 million, respectively. Significant unobservable inputs used in this Level 3 valuation included weighted-average prepayment speeds of 12.42% and 14.64% at March 31, 2022 and December 31, 2021, respectively, and a weighted-average option-adjusted spread of 900 basis points at each date. There was a recovery of previously recognized impairment charges for capitalized servicing rights of $9 million during the three months ended March 31, 2021. The $3 million reduction during the three months ended March 31, 2022 reflects increased amortization recognized by the Company during that period. 12. Fair value measurements, continued Significant unobservable inputs to Level 3 measurements The following tables present quantitative information about significant unobservable inputs used in the fair value measurements for certain Level 3 assets and liabilities at March 31, 2022 and December 31, 2021: Fair Value Valuation Technique Unobservable Inputs/Assumptions Range (Weighted- Average) (In March 31, 2022 Recurring fair value measurements Net other assets (liabilities) (a) (15,428 ) Discounted cash flow Commitment expirations 0% - 96% (8%) December 31, 2021 Recurring fair value measurements Net other assets (liabilities) (a) 6,440 Discounted cash flow Commitment expirations 0% - 80% (10%) (a) Other Level 3 assets (liabilities) consist of commitments to originate real estate loans. Sensitivity of fair value measurements to changes in unobservable inputs An increase (decrease) in the estimate of expirations for commitments to originate real estate loans would generally result in a lower (higher) 12. Fair value measurements, continued Disclosures of fair value of financial instruments The carrying amounts and estimated fair value for financial instrument assets (liabilities) are presented in the following table: March 31, 2022 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 1,411,460 1,411,460 1,292,609 118,851 — Interest-bearing deposits at banks 36,025,382 36,025,382 — 36,025,382 — Trading account assets 197,558 197,558 46,655 150,903 — Investment securities 9,356,832 9,218,915 72,166 9,090,244 56,505 Loans and leases: Commercial loans and leases 23,496,017 23,231,047 — — 23,231,047 Commercial real estate loans 34,553,558 33,804,132 — 215,764 33,588,368 Residential real estate loans 15,595,879 15,118,857 — 4,674,686 10,444,171 Consumer loans 18,162,938 18,307,086 — — 18,307,086 Allowance for credit losses (1,472,359 ) — — — — Loans and leases, net 90,336,033 90,461,122 — 4,890,450 85,570,672 Accrued interest receivable 301,864 301,864 — 301,864 — Financial liabilities: Noninterest-bearing deposits $ (58,520,366 ) (58,520,366 ) — (58,520,366 ) — Savings (65,273,150 ) (65,273,150 ) — (65,273,150 ) — Time deposits (2,525,197 ) (2,526,204 ) — (2,526,204 ) — Short-term borrowings (50,307 ) (50,307 ) — (50,307 ) — Long-term borrowings (3,443,587 ) (3,464,637 ) — (3,464,637 ) — Accrued interest payable (23,316 ) (23,316 ) — (23,316 ) — Trading account liabilities (302,506 ) (302,506 ) — (302,506 ) — Other financial instruments: Commitments to originate real estate loans for sale $ (15,428 ) (15,428 ) — — (15,428 ) Commitments 35,809 35,809 — 35,809 — Other credit-related commitments (118,390 ) (118,390 ) — — (118,390 ) Interest rate swap agreements used for interest rate risk management 3,841 3,841 — 3,841 — 12. Fair value measurements, continued December 31, 2021 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 1,337,577 1,337,577 1,205,269 132,308 — Interest-bearing deposits at banks 41,872,304 41,872,304 — 41,872,304 — Trading account assets 468,031 468,031 49,545 418,486 — Investment securities 7,155,860 7,192,476 68,850 7,066,293 57,333 Loans and leases: Commercial loans and leases 23,473,324 23,285,224 — — 23,285,224 Commercial real estate loans 35,389,730 34,730,191 — 425,010 34,305,181 Residential real estate loans 16,074,445 16,160,799 — 4,524,018 11,636,781 Consumer loans 17,974,953 18,121,363 — — 18,121,363 Allowance for credit losses (1,469,226 ) — — — — Loans and leases, net 91,443,226 92,297,577 — 4,949,028 87,348,549 Accrued interest receivable 335,162 335,162 — 335,162 — Financial liabilities: Noninterest-bearing deposits $ (60,131,480 ) (60,131,480 ) — (60,131,480 ) — Savings (68,603,966 ) (68,603,966 ) — (68,603,966 ) — Time deposits (2,807,963 ) (2,810,143 ) — (2,810,143 ) — Short-term borrowings (47,046 ) (47,046 ) — (47,046 ) — Long-term borrowings (3,485,369 ) (3,562,223 ) — (3,562,223 ) — Accrued interest payable (40,866 ) (40,866 ) — (40,866 ) — Trading account liabilities (83,434 ) (83,434 ) — (83,434 ) — Other financial instruments: Commitments to originate real estate loans for sale $ 6,440 6,440 — — 6,440 Commitments 7,525 7,525 — 7,525 — Other credit-related commitments (123,032 ) (123,032 ) — — (123,032 ) Interest rate swap agreements used for interest rate risk management (207 ) (207 ) — (207 ) — With the exception of marketable securities, certain off-balance sheet financial instruments and mortgage loans originated for sale, the Company’s financial instruments are not readily marketable and market prices do not exist. The Company, in attempting to comply with the provisions of GAAP that require disclosures of fair value of financial instruments, has not attempted to market its financial instruments to potential buyers, if any exist. Since negotiated prices in illiquid markets depend greatly upon the then present motivations of the buyer and seller, it is reasonable to assume that actual sales prices could vary widely from any estimate of fair value made without the benefit of negotiations. Additionally, changes in market interest rates can dramatically impact the value of financial instruments in a short period of time. The Company does not believe that the estimated information presented herein is representative of the earnings power or value of the Company. The preceding analysis, which is inherently limited in depicting fair value, also does not consider any value associated with existing customer relationships nor the ability of the Company to create value through loan origination, deposit gathering or fee generating activities. Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise. Management believes that fair value estimates may not be comparable between financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made. Furthermore, |
Commitments and contingencies
Commitments and contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 13. Commitments and contingencies In the normal course of business, various commitments and contingent liabilities are outstanding. The following table presents the Company's significant commitments. Certain of these commitments are not included in the Company's consolidated balance sheet. March 31, December 31, 2022 2021 (In thousands) Commitments to extend credit Home equity lines of credit $ 5,713,950 $ 5,693,045 Commercial real estate loans to be sold 321,654 324,943 Other commercial real estate 4,523,995 4,998,631 Residential real estate loans to be sold 146,491 233,257 Other residential real estate 982,216 924,211 Commercial and other 21,884,664 22,145,057 Standby letters of credit 2,177,405 2,151,595 Commercial letters of credit 53,732 31,981 Financial guarantees and indemnification contracts 4,453,722 4,211,797 Commitments to sell real estate loans 862,061 1,367,523 Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee. In addition to the amounts in the preceding table, the Company had discretionary funding commitments to commercial customers of $11.0 billion and $10.8 billion at March 31, 2022 and December 31, 2021, respectively, that the Company had the unconditional right to cancel prior to funding. Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party, whereas commercial letters of credit are issued to facilitate commerce and typically result in the commitment being funded when the underlying transaction is consummated between the customer and a third party. The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies. Collateral may be obtained based on management's assessment of the customer's creditworthiness. Financial guarantees and indemnification contracts are predominantly comprised of recourse obligations associated with sold loans and other guarantees and commitments. Included in financial guarantees and indemnification contracts are loan principal amounts sold with recourse in conjunction with the Company's involvement in the Fannie Mae Delegated Underwriting and Servicing program. The Company's maximum credit risk for recourse associated with loans sold under this program totaled approximately $4.0 billion at each of March 31, 2022 and December 31, 2021. There have been no material losses incurred as a result of those credit recourse arrangements. Since many loan commitments, standby letters of credit, and guarantees and indemnification contracts expire without being funded in whole or in part, the contract amounts are not necessarily indicative of future cash flows. The Company utilizes commitments to sell real estate loans to hedge exposure to changes in the fair value of real estate loans held for sale. Such commitments are considered derivatives and along with commitments to originate real estate loans to be held for sale are generally recorded in the consolidated balance sheet at estimated fair market value. The Company is contractually obligated to repurchase previously sold residential real estate loans that do not ultimately meet investor sale criteria related to underwriting procedures or loan documentation. When required to do so, the Company may reimburse loan purchasers for losses incurred or may repurchase certain loans. The Company reduces residential mortgage banking revenues by an estimate for losses related to its obligations to loan purchasers. 13. Commitments and contingencies, continued The amount of those charges is based on the volume of loans sold, the level of reimbursement requests received from loan purchasers and estimates of losses that may be associated with previously sold loans. At March 31, 2022, the Company believes that its obligation to loan purchasers was not material to the Company’s consolidated financial position. M&T and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings and matters in which claims for monetary damages are asserted. On an on-going basis management, after consultation with legal counsel, assesses the Company’s liabilities and contingencies in connection with such proceedings. For those matters where it is probable that the Company will incur losses and the amounts of the losses can be reasonably estimated, the Company records an expense and corresponding liability in its consolidated financial statements. To the extent pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable. Although not considered probable, the range of reasonably possible losses for such matters in the aggregate, beyond the existing recorded liability, was between $0 and $25 million as of March 31, 2022. Although the Company does not believe that the outcome of pending legal matters will be material to the Company’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future. |
Segment information
Segment information | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
Segment information | 14. Segment information Reportable segments have been determined based upon the Company's internal profitability reporting system, which is organized by strategic business unit. Certain strategic business units have been combined for segment information reporting purposes where the nature of the products and services, the type of customer and the distribution of those products and services are similar. The reportable segments are Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking. The financial information of the Company's segments was compiled utilizing the accounting policies described in note 23 of Notes to Financial Statements in the 2021 Annual Report. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, the financial information of the reported segments is not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data. 14. Segment information, continued Information about the Company's segments is presented in the following table: Three Months Ended March 31 2022 2021 Total Revenues(a) Inter- segment Revenues Net Income (Loss) Total Revenues(a) Inter- segment Revenues Net Income (Loss) (In thousands) Business Banking $ 141,346 $ 671 $ 41,111 $ 155,903 $ 669 $ 46,271 Commercial Banking 289,372 863 144,608 285,912 809 122,638 Commercial Real Estate 202,087 179 97,610 200,843 222 71,272 Discretionary Portfolio 64,727 (27,805 ) 35,385 134,544 (10,027 ) 90,546 Residential 137,444 37,464 28,964 153,760 22,183 49,611 Retail Banking 355,148 (3 ) 84,164 346,917 272 85,358 All Other 254,937 (11,369 ) (69,668 ) 209,114 (14,128 ) (18,447 ) Total $ 1,445,061 $ — $ 362,174 $ 1,486,993 $ — $ 447,249 Average Total Assets Three Months Ended March 31 Year Ended December 2022 2021 2021 (In millions) Business Banking $ 6,568 $ 8,622 $ 8,007 Commercial Banking 27,620 30,395 28,559 Commercial Real Estate 22,648 26,097 25,628 Discretionary Portfolio 22,899 23,650 22,262 Residential Mortgage Banking 6,250 6,506 6,463 Retail Banking 18,610 17,216 17,897 All Other 47,053 35,671 43,853 Total $ 151,648 $ 148,157 $ 152,669 (a) Total revenues are comprised of net interest income and other income. Net interest income is the difference between taxable-equivalent interest earned on assets and interest paid on liabilities owed by a segment and a funding charge (credit) based on the Company's internal funds transfer and allocation methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $3,234,000 and $3,733,000 for the three-month periods ended March 31, 2022 and 2021, respectively, and is eliminated in "All Other" total revenues. Intersegment revenues are included in total revenues of the reportable segments. The elimination of intersegment revenues is included in the determination of "All Other" total revenues |
Relationship with Bayview Lendi
Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. | 3 Months Ended |
Mar. 31, 2022 | |
Text Block [Abstract] | |
Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. | 15. Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. M&T holds a 20% minority interest in Bayview Lending Group LLC ("BLG"), a privately-held commercial mortgage company. That investment had no remaining carrying value Bayview Financial Holdings, L.P. (together with its affiliates, "Bayview Financial"), a privately-held specialty finance company, is BLG's majority investor. In addition to their common investment in BLG, the Company and Bayview Financial conduct other business activities with each other. The Company has obtained loan servicing rights for mortgage loans from BLG and Bayview Financial having outstanding principal balances of $1.6 billion at each of March 31, 2022 and December 31, 2021. Revenues from those servicing rights were |
Recent accounting developments
Recent accounting developments | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent accounting developments | 16. Recent accounting developments The following table provides a description of accounting standards that were adopted by the Company in 2022 as well as standards that are not effective that could have an impact to M&T’s consolidated financial statements upon adoption. Standard Description Required date of adoption Effect on consolidated financial statements Standards Adopted in 2022 Changes to Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The amendments reduce the number of accounting models for convertible debt instruments and convertible preferred stock. The amendments also reduce form-over-substance-based guidance for the derivatives scope exception for contracts in an entity’s own equity. January 1, 2022 At January 1, 2022 the Company did not have the types of instruments affected by the amended guidance and, therefore, the adoption had no impact on its consolidated financial statements. Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options The amendments clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. January 1, 2022 At January 1, 2022 the Company did not have the types of instruments affected by the amended guidance and, therefore, the adoption had no impact on its consolidated financial statements. Lessor’s Accounting for Certain Leases with Variable Lease Payments The amendments update the classification guidance for lessors. Under the amended guidance lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both of the following criteria are met: 1. The lease would have been classified as a sales-type lease or a direct financing lease. 2. The lessor would have otherwise recognized a day-one loss. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset, and, therefore, does not recognize a selling profit or loss. January 1, 2022 The Company adopted the amended guidance effective January 1, 2022 using a prospective transition method. The adoption did not have a material impact on the Company’s consolidated financial statements. 16. Recent accounting developments, continued Standard Description Required date of adoption Effect on consolidated financial statements Standards Not Yet Adopted as of March 31, 2022 Accounting for Contract Assets and Contract Liabilities from Contracts with Customers in a Business Combination The amendments require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with specified revenue recognition guidance. At the acquisition date, an acquirer should account for the related revenue contracts as if it had originated the contracts and may assess how the acquiree applied the revenue guidance to determine what to record for such contracts. The guidance is generally expected to result in an acquirer recognizing and measuring the acquired contract assets and contract liabilities consistent with how they were recognized and measured in the acquiree’s financial statements. January 1, 2023 Early adoption permitted The amendments should be applied prospectively to business combinations occurring on or after the effective date of the amendments. However, if early adoption is elected, the amendments should be applied (1) retrospectively to all business combinations for which the acquisition date occurs on or after the beginning of the fiscal year that includes the interim period of early application and (2) prospectively to all business combinations that occur on or after the date of initial application. The Company does not expect the guidance will have a material impact on its consolidated financial statements. Fair Value Hedging of Multiple Hedge Layers under Portfolio Layer Method The amendments allow multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments. If multiple hedged layers are designated, the amendments require an analysis to be performed to support the expectation that the aggregate amount of the hedged layers is anticipated to be outstanding for the designated hedge periods. Only closed portfolios may be hedged under the portfolio layer method (that is, no assets can be added to the closed portfolio once established), however designating new hedging relationships and dedesignating existing hedging relationships associated with the closed portfolio any time after the closed portfolio is established is permitted. January 1, 2023 Early adoption permitted The amendments should be applied on a modified retrospective basis by means of a cumulative-effect adjustment to the opening balance of retained earnings on the initial application date. The Company does not expect the guidance will have a material impact on its consolidated financial statements. Accounting for Troubled Debt Restructurings (TDRs) and Expansion of Vintage Disclosures Applicable to Credit Losses The amendments (1) eliminate the accounting guidance for TDRs and require enhanced disclosure for certain loan refinancings by creditors when a borrower is experiencing financial difficulty and (2) require disclosure of current-period gross write-offs by year of origination for financing receivables and net investments in leases within credit loss disclosures. January 1, 2023 Early adoption permitted The amendments should be applied prospectively, except for the amendments related to the recognition and measurement of TDRs for which an option is permitted to apply a modified retrospective transition method. Under the amended guidance the Company will no longer be required to identify TDRs and apply specialized accounting to such loans. The Company does not expect the guidance will have a material impact on its consolidated financial statements outside of the modified disclosure requirements. |
Significant accounting polici_2
Significant accounting policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting | The consolidated interim financial statements of M&T Bank Corporation (“M&T”) and subsidiaries (“the Company”) were compiled in accordance with generally accepted accounting principles (“GAAP”) using the accounting policies set forth in note 1 of Notes to Financial Statements included in Form 10-K for the year ended December 31, 2021 (“2021 Annual Report”). The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the Company’s financial position, results of operations and cash flows for the interim periods presented. |
Investment securities (Tables)
Investment securities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities | The amortized cost and estimated fair value of investment securities were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In thousands) March 31, 2022 Investment securities available for sale: U.S. Treasury and federal agencies $ 2,838,987 $ 707 $ 49,977 $ 2,789,717 Mortgage-backed securities: Government issued or guaranteed 2,820,570 14,599 39,992 2,795,177 Other debt securities 124,140 996 4,831 120,305 5,783,697 16,302 94,800 5,705,199 Investment securities held to maturity: U.S. Treasury and federal agencies 3,038 — 24 3,014 Obligations of states and political subdivisions 175 — — 175 Mortgage-backed securities: Government issued or guaranteed 3,117,175 4,830 141,477 2,980,528 Privately issued 57,751 10,309 11,555 56,505 Other debt securities 2,487 — — 2,487 3,180,626 15,139 153,056 3,042,709 Total debt securities $ 8,964,323 $ 31,441 $ 247,856 $ 8,747,908 Equity and other securities: Readily marketable equity — at fair value $ 78,042 $ 4,653 $ 1,530 $ 81,165 Other — at cost 389,842 — — 389,842 Total equity and other securities $ 467,884 $ 4,653 $ 1,530 $ 471,007 Balance — December 31, 2021 Investment securities available for sale: U.S. Treasury and federal agencies $ 682,267 $ 229 $ 3,806 $ 678,690 Mortgage-backed securities: Government issued or guaranteed 3,042,771 113,102 561 3,155,312 Other debt securities 124,309 1,974 4,481 121,802 3,849,347 115,305 8,848 3,955,804 Investment securities held to maturity: U.S. Treasury and federal agencies 3,052 — 9 3,043 Obligations of states and political subdivisions 177 2 — 179 Mortgage-backed securities: Government issued or guaranteed 2,667,328 49,221 8,376 2,708,173 Privately issued 61,555 10,520 14,742 57,333 Other debt securities 2,562 — — 2,562 2,734,674 59,743 23,127 2,771,290 Total debt securities $ 6,584,021 $ 175,048 $ 31,975 $ 6,727,094 Equity and other securities: Readily marketable equity — at fair value $ 73,774 $ 4,460 $ 594 $ 77,640 Other — at cost 387,742 — — 387,742 Total equity and other securities $ 461,516 $ 4,460 $ 594 $ 465,382 |
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | At March 31, 2022, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows: Amortized Cost Estimated Fair Value (In thousands) Debt securities available for sale: Due in one year or less $ 6,955 $ 6,947 Due after one year through five years 2,895,828 2,846,337 Due after five years through ten years 30,344 30,018 Due after ten years 30,000 26,720 2,963,127 2,910,022 Mortgage-backed securities available for sale 2,820,570 2,795,177 $ 5,783,697 $ 5,705,199 Debt securities held to maturity: Due in one year or less $ 3,213 $ 3,189 Due after ten years 2,487 2,487 5,700 5,676 Mortgage-backed securities held to maturity 3,174,926 3,037,033 $ 3,180,626 $ 3,042,709 |
Investment Securities in Continuous Unrealized Loss Position | A summary of investment securities that as of March 31, 2022 and December 31, 2021 had been in a continuous unrealized loss position for less than twelve months and those that had been in a continuous unrealized loss position for twelve months or longer follows: Less Than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) March 31, 2022 Investment securities available for sale: U.S. Treasury and federal agencies $ 2,341,892 $ 49,970 $ 293 $ 7 Mortgage-backed securities: Government issued or guaranteed 2,099,805 39,425 19,599 567 Other debt securities 7,357 69 67,888 4,762 4,449,054 89,464 87,780 5,336 Investment securities held to maturity: U.S. Treasury and federal agencies 3,014 24 — — Mortgage-backed securities: Government issued or guaranteed 2,639,956 141,419 1,178 58 Privately issued — — 38,536 11,555 2,642,970 141,443 39,714 11,613 Total $ 7,092,024 $ 230,907 $ 127,494 $ 16,949 December 31, 2021 Investment securities available for sale: U.S. Treasury and federal agencies $ 598,566 $ 3,806 $ — $ — Mortgage-backed securities: Government issued or guaranteed 10,111 54 20,824 507 Other debt securities 3,760 74 66,419 4,407 612,437 3,934 87,243 4,914 Investment securities held to maturity: U.S. Treasury and federal agencies 3,043 9 — — Mortgage-backed securities: Government issued or guaranteed 1,372,236 8,356 1,251 20 Privately issued — — 43,692 14,742 1,375,279 8,365 44,943 14,762 Total $ 1,987,716 $ 12,299 $ 132,186 $ 19,676 |
Loans and leases and the allo_2
Loans and leases and the allowance for credit losses (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Summary of Current, Past Due and Nonaccrual Loans | A summary of current, past due and nonaccrual loans as of March 31, 2022 and December 31, 2021 follows: Current 30-89 Days Past Due Accruing Loans Due 90 Days or More Nonaccrual Total (In thousands) March 31, 2022 Commercial, financial, leasing, etc. $ 23,140,917 $ 70,716 $ 9,238 $ 275,146 $ 23,496,017 Real estate: Commercial 24,237,034 250,362 76,413 1,157,686 25,721,495 Residential builder and developer 1,381,331 840 — 2,916 1,385,087 Other commercial construction 7,283,522 112,599 — 50,855 7,446,976 Residential 13,126,694 249,731 687,397 341,671 14,405,493 Residential — limited documentation 1,050,328 16,546 — 123,512 1,190,386 Consumer: Home equity lines and loans 3,407,958 16,939 — 71,489 3,496,386 Recreational finance 8,156,368 33,093 — 31,546 8,221,007 Automobile 4,688,513 31,707 — 35,350 4,755,570 Other 1,631,907 10,305 3,703 44,060 1,689,975 Total $ 88,104,572 $ 792,838 $ 776,751 $ 2,134,231 $ 91,808,392 December 31, 2021 Commercial, financial, leasing, etc. $ 23,101,810 $ 142,208 $ 8,284 $ 221,022 $ 23,473,324 Real estate: Commercial 24,712,643 319,099 31,733 1,069,280 26,132,755 Residential builder and developer 1,400,437 2,904 — 3,005 1,406,346 Other commercial construction 7,722,049 17,175 — 111,405 7,850,629 Residential 13,294,872 239,561 920,080 355,858 14,810,371 Residential — limited documentation 1,124,520 16,666 — 122,888 1,264,074 Consumer: Home equity lines and loans 3,476,617 15,486 — 70,488 3,562,591 Recreational finance 7,985,173 40,544 — 27,811 8,053,528 Automobile 4,604,772 40,064 — 34,037 4,678,873 Other 1,620,147 12,223 3,302 44,289 1,679,961 Total $ 89,043,040 $ 845,930 $ 963,399 $ 2,060,083 $ 92,912,452 |
Summary of Loan grades applied various classes of Commercial and Real Estate Loans | The following table summarizes the loan grades applied at March 31, 2022 to the various classes of the Company’s commercial loans and commercial real estate loans by origination year. Term Loans by Origination Year Revolving Revolving Loans Converted to Term 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Commercial, financial, leasing, etc.: Loan grades: Pass $ 1,055,017 4,113,672 1,587,360 1,244,516 804,066 1,672,521 11,620,841 21,332 $ 22,119,325 Criticized accrual 2,158 160,026 85,975 112,346 54,793 239,338 431,138 15,772 1,101,546 Criticized nonaccrual 230 32,442 23,377 16,306 25,381 62,888 108,064 6,458 275,146 Total commercial, financial, leasing, etc. $ 1,057,405 4,306,140 1,696,712 1,373,168 884,240 1,974,747 12,160,043 43,562 $ 23,496,017 Real estate: Commercial: Loan grades: Pass $ 841,183 2,820,491 2,575,823 3,515,526 2,680,777 6,945,820 802,747 — $ 20,182,367 Criticized accrual — 303,277 435,302 760,867 1,020,066 1,824,893 37,037 — 4,381,442 Criticized nonaccrual — 11,335 170,600 193,832 118,467 631,956 31,496 — 1,157,686 Total commercial real estate $ 841,183 3,135,103 3,181,725 4,470,225 3,819,310 9,402,669 871,280 — $ 25,721,495 Residential Loan grades: Pass $ 148,495 693,998 72,171 65,188 48,524 13,301 203,455 — $ 1,245,132 Criticized accrual — 3,848 6,430 109,729 13,360 63 3,609 — 137,039 Criticized nonaccrual — — — 2,909 — 7 — — 2,916 Total residential builder and developer $ 148,495 697,846 78,601 177,826 61,884 13,371 207,064 — $ 1,385,087 Other commercial construction: Loan grades: Pass $ 51,528 1,105,470 1,763,832 1,898,002 573,711 347,883 30,026 — $ 5,770,452 Criticized accrual 321 32,357 77,290 673,544 517,987 322,078 2,092 — 1,625,669 Criticized nonaccrual — — 106 10,634 3,392 32,254 4,469 — 50,855 Total other commercial construction $ 51,849 1,137,827 1,841,228 2,582,180 1,095,090 702,215 36,587 — $ 7,446,976 The following table summarizes the loan grades applied at December 31, 2021 to the various classes of the Company’s commercial loans and commercial real estate loans by origination year. Term Loans by Origination Year Revolving Revolving Loans Converted to Term 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial, financial, leasing, etc.: Loan grades: Pass $ 4,798,052 1,916,072 1,476,786 951,881 500,615 1,398,775 10,993,461 18,699 $ 22,054,341 Criticized accrual 196,680 98,595 107,010 73,126 36,232 185,935 484,755 15,628 1,197,961 Criticized nonaccrual 19,462 23,229 17,114 39,908 20,927 33,698 60,175 6,509 221,022 Total commercial, financial, leasing, etc. $ 5,014,194 2,037,896 1,600,910 1,064,915 557,774 1,618,408 11,538,391 40,836 $ 23,473,324 Real estate: Commercial: Loan grades: Pass $ 3,413,587 2,662,999 3,682,178 2,648,388 2,076,155 5,232,790 728,948 — $ 20,445,045 Criticized accrual 133,133 480,146 685,701 1,068,552 468,530 1,743,798 38,570 — 4,618,430 Criticized nonaccrual 21,587 133,560 195,084 83,857 76,628 520,473 38,091 — 1,069,280 Total commercial real estate $ 3,568,307 3,276,705 4,562,963 3,800,797 2,621,313 7,497,061 805,609 — $ 26,132,755 Residential builder and developer: Loan grades: Pass $ 786,983 106,510 75,287 47,587 4,680 12,450 230,017 — $ 1,263,514 Criticized accrual 2,055 5,356 117,258 13,637 630 — 891 — 139,827 Criticized nonaccrual — — 2,910 — — 95 — — 3,005 Total residential builder and developer $ 789,038 111,866 195,455 61,224 5,310 12,545 230,908 — $ 1,406,346 Other commercial construction: Loan grades: Pass $ 957,947 1,781,603 2,022,276 832,547 152,669 273,556 38,781 — $ 6,059,379 Criticized accrual 24,103 54,191 675,226 583,428 228,739 114,158 — — 1,679,845 Criticized nonaccrual — — 71,613 3,303 12,263 19,970 4,256 — 111,405 Total other commercial construction $ 982,050 1,835,794 2,769,115 1,419,278 393,671 407,684 43,037 — $ 7,850,629 |
Summary of loans in Accrual and Nonaccrual Status | . A summary of loans in accrual and nonaccrual status at March 31, 2022 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows. Term Loans by Origination Year Revolving Revolving Loans Converted to Term 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Residential: Current $ 1,166,092 2,822,922 1,657,789 992,754 403,896 6,044,813 38,428 — $ 13,126,694 30-89 days past due 3,136 19,193 10,756 5,952 6,882 201,254 2,558 — 249,731 Accruing loans days or more — 28,249 60,476 25,426 28,236 545,010 — — 687,397 Nonaccrual — 5,764 14,866 9,950 3,347 307,228 516 — 341,671 Total residential $ 1,169,228 2,876,128 1,743,887 1,034,082 442,361 7,098,305 41,502 — $ 14,405,493 Residential - limited documentation: Current $ — — — — — 1,050,328 — — $ 1,050,328 30-89 days past due — — — — — 16,546 — — 16,546 Accruing loans days or more — — — — — — — — — Nonaccrual — — — — — 123,512 — — 123,512 Total residential - limited documentation $ — — — — — 1,190,386 — — $ 1,190,386 Consumer: Home equity lines and loans: Current $ 70 382 762 2,648 1,480 36,016 2,249,108 1,117,492 $ 3,407,958 30-89 days past due — — — — — 935 574 15,430 16,939 Accruing loans days or more — — — — — — — — — Nonaccrual — 15 — — — 5,445 4,772 61,257 71,489 Total home equity lines and loans $ 70 397 762 2,648 1,480 42,396 2,254,454 1,194,179 $ 3,496,386 Recreational finance: Current $ 703,845 2,719,675 1,938,655 1,175,424 602,683 1,016,086 — — $ 8,156,368 30-89 days past due 88 5,701 7,647 6,930 4,076 8,651 — — 33,093 Accruing loans days or more — — — — — — — — — Nonaccrual — 2,664 6,270 5,907 5,017 11,688 — — 31,546 Total recreational finance $ 703,933 2,728,040 1,952,572 1,188,261 611,776 1,036,425 — — $ 8,221,007 Automobile: Current $ 567,597 2,052,558 981,264 575,505 289,345 222,244 — — $ 4,688,513 30-89 days past due 288 7,968 5,104 6,824 5,022 6,501 — — 31,707 Accruing loans days or more — — — — — — — — — Nonaccrual — 3,756 5,904 8,199 7,171 10,320 — — 35,350 Total automobile $ 567,885 2,064,282 992,272 590,528 301,538 239,065 — — $ 4,755,570 Other: Current $ 56,511 222,946 85,462 61,479 19,075 26,925 1,158,065 1,444 $ 1,631,907 30-89 days past due 2,187 907 369 489 166 5,814 — 373 10,305 Accruing loans days or more — — — — — 3,703 — — 3,703 Nonaccrual 1,538 883 203 370 144 266 40,552 104 44,060 Total other $ 60,236 224,736 86,034 62,338 19,385 36,708 1,198,617 1,921 $ 1,689,975 Total loans and leases at March 31, 2022 $ 4,600,284 17,170,499 11,573,793 11,481,256 7,237,064 21,736,287 16,769,547 1,239,662 $ 91,808,392 A summary of loans in accrual and nonaccrual status at December 31, 2021 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows. Term Loans by Origination Year Revolving Revolving Loans Converted to Term 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Residential: Current $ 3,057,118 1,672,090 1,075,896 466,040 1,037,958 5,913,461 72,309 — $ 13,294,872 30-89 15,245 12,535 9,886 6,132 33,097 162,666 — — 239,561 Accruing 90 days or more 10,924 100,581 28,512 31,996 205,318 542,749 — — 920,080 Nonaccrual 3,359 19,858 7,119 4,577 5,890 314,792 263 — 355,858 Total residential $ 3,086,646 1,805,064 1,121,413 508,745 1,282,263 6,933,668 72,572 — $ 14,810,371 Residential - limited documentation: Current $ — — — — — 1,124,520 — — $ 1,124,520 30-89 — — — — — 16,666 — — 16,666 Accruing 90 days or more — — — — — — — — — Nonaccrual — — — — — 122,888 — — 122,888 Total residential - limited documentation $ — — — — — 1,264,074 — — $ 1,264,074 Consumer: Home equity lines and loans: Current $ 304 777 2,793 1,730 1,944 38,015 2,348,279 1,082,775 $ 3,476,617 30-89 — — — 21 — 698 346 14,421 15,486 Accruing 90 days or more — — — — — — — — — Nonaccrual — — — — — 5,750 4,951 59,787 70,488 Total home equity lines and loans $ 304 777 2,793 1,751 1,944 44,463 2,353,576 1,156,983 $ 3,562,591 Recreational finance: Current $ 2,890,111 2,088,342 1,267,929 646,883 445,868 646,040 — — $ 7,985,173 30-89 5,929 8,912 8,317 5,074 5,189 7,123 — — 40,544 Accruing 90 days or more — — — — — — — — — Nonaccrual 1,341 4,646 4,871 4,918 4,039 7,996 — — 27,811 Total recreational finance $ 2,897,381 2,101,900 1,281,117 656,875 455,096 661,159 — — $ 8,053,528 Automobile: Current $ 2,220,061 1,097,684 662,000 341,655 211,774 71,598 — — $ 4,604,772 30-89 8,508 6,615 8,936 7,161 5,715 3,129 — — 40,064 Accruing 90 days or more — — — — — — — — — Nonaccrual 1,588 4,390 7,847 7,867 6,882 5,463 — — 34,037 Total automobile $ 2,230,157 1,108,689 678,783 356,683 224,371 80,190 — — $ 4,678,873 Other: Current $ 244,346 96,945 73,586 24,424 16,924 14,321 1,148,096 1,505 $ 1,620,147 30-89 2,937 404 472 255 101 5,712 1,908 434 12,223 Accruing 90 days or more — — — — — 3,302 — — 3,302 Nonaccrual 2,051 326 326 193 104 353 40,807 129 44,289 Total other $ 249,334 97,675 74,384 24,872 17,129 23,688 1,190,811 2,068 $ 1,679,961 Total loans and leases at December 31, 2021 $ 18,817,411 12,376,366 12,286,933 7,895,140 5,558,871 18,542,940 16,234,904 1,199,887 $ 92,912,452 |
Changes in Allowance for Credit Losses | Changes in the allowance for credit losses for the three months ended March 31, 2022 and 2021 were as follows: Commercial, Financial, Real Estate Leasing, etc. Commercial Residential Consumer Total (In thousands) Three Months Ended March 31, 2022 Beginning balance $ 283,899 557,239 71,726 556,362 $ 1,469,226 Provision for credit losses 28,725 (30,938 ) 1,720 10,493 10,000 Net charge-offs Charge-offs (19,234 ) (1,800 ) (3,972 ) (26,032 ) (51,038 ) Recoveries 13,665 14,943 3,107 12,456 44,171 Net (charge-offs) recoveries (5,569 ) 13,143 (865 ) (13,576 ) (6,867 ) Ending balance $ 307,055 539,444 72,581 553,279 $ 1,472,359 Three Months Ended March 31, 2021 Beginning balance $ 405,846 670,719 103,590 556,232 $ 1,736,387 Provision for credit losses (72,418 ) 99,471 (13,435 ) (38,618 ) (25,000 ) Net charge-offs Charge-offs (26,945 ) (60,652 ) (2,399 ) (32,929 ) (122,925 ) Recoveries 22,511 6,560 2,033 16,640 47,744 Net charge-offs (4,434 ) (54,092 ) (366 ) (16,289 ) (75,181 ) Ending balance $ 328,994 716,098 89,789 501,325 $ 1,636,206 |
Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans | 4. Loans and leases and the allowance for credit losses, continued Information with respect to loans and leases that were considered nonaccrual at the beginning and end of the reporting period and the interest income recognized on such loans for the three-month periods ended March 31, 2022 and 2021 follows. March 31, 2022 January 1, 2022 Three Months Ended March 31, 2022 Amortized Cost with Allowance Amortized Cost Total Amortized Cost Interest Income Recognized (In thousands) Commercial, financial, leasing, etc. $ 171,322 $ 103,824 $ 275,146 $ 221,022 $ 13,594 Real estate: Commercial 222,771 934,915 1,157,686 1,069,280 6,131 Residential builder and developer 524 2,392 2,916 3,005 1,428 Other commercial construction 29,914 20,941 50,855 111,405 626 Residential 191,495 150,176 341,671 355,858 6,541 Residential — limited documentation 80,590 42,922 123,512 122,888 196 Consumer: Home equity lines and loans 32,783 38,706 71,489 70,488 809 Recreational finance 24,350 7,196 31,546 27,811 161 Automobile 30,129 5,221 35,350 34,037 38 Other 43,964 96 44,060 44,289 92 Total $ 827,842 $ 1,306,389 $ 2,134,231 $ 2,060,083 $ 29,616 March 31, 2021 January 1, 2021 Three Months Ended March 31, 2021 Amortized Cost with Allowance Amortized Cost Total Amortized Cost Interest Income Recognized (In thousands) Commercial, financial, leasing, etc. $ 211,894 $ 83,175 $ 295,069 $ 306,827 $ 3,085 Real estate: Commercial 337,036 487,043 824,079 775,894 1,658 Residential builder and developer 1,224 — 1,224 1,094 33 Other commercial construction 24,186 102,039 126,225 114,039 41 Residential 186,374 199,134 385,508 365,729 4,498 Residential — limited documentation 84,342 58,727 143,069 147,170 79 Consumer: Home equity lines and loans 44,548 34,640 79,188 79,392 952 Recreational finance 19,657 7,561 27,218 25,519 155 Automobile 33,270 4,949 38,219 39,404 49 Other 2,864 34,443 37,307 38,231 180 Total $ 945,395 $ 1,011,711 $ 1,957,106 $ 1,893,299 $ 10,730 |
Loan Modification Activities that were Considered Troubled Debt Restructurings | The table that follows summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the three-month periods ended March 31, 2022 and 2021: Post-modification (a) Number Pre- modification Recorded Investment Principal Deferral Interest Rate Reduction Other Combination of Concession Types Total Three Months Ended March 31, 2022 (Dollars in thousands) Commercial, financial, leasing, etc. 37 $ 10,003 $ 6,920 $ — $ 54 $ 2,780 $ 9,754 Real estate: Commercial 17 7,582 4,376 — 2,101 855 7,332 Residential 97 24,051 15,443 — — 9,961 25,404 Residential — limited documentation 5 1,076 894 — — 193 1,087 Consumer: Home equity lines and loans 35 2,150 1,988 — — 172 2,160 Recreational finance 177 5,997 5,990 — — — 5,990 Automobile 534 10,263 10,233 — — — 10,233 Other 33 334 334 — — — 334 Total 935 $ 61,456 $ 46,178 $ — $ 2,155 $ 13,961 $ 62,294 Three Months Ended March 31, 2021 Commercial, financial, leasing, etc. 93 $ 53,733 $ 24,653 $ — $ — $ 28,504 $ 53,157 Real estate: Commercial 33 26,870 11,160 — 2,214 12,422 25,796 Residential 123 39,583 38,557 — — 1,117 39,674 Residential — limited documentation 10 1,116 1,059 — — — 1,059 Consumer: Home equity lines and loans 26 1,715 1,486 — — 174 1,660 Recreational finance 72 2,212 2,212 — — — 2,212 Automobile 276 4,969 4,955 — — 14 4,969 Other 222 1,434 1,434 — — — 1,434 Total 855 $ 131,632 $ 85,516 $ — $ 2,214 $ 42,231 $ 129,961 (a) Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. The present value of interest rate concessions, discounted at the effective rate of the original loan, was not material. |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
ASU 2014-09 [Member] | |
Summary of Sources of Noninterest Income that are Subject to Revenue Recognition Accounting Guidance | The following tables summarize sources of the Company’s noninterest income during the three-month periods ended March 31, 2022 and 2021 that are subject to the revenue recognition accounting guidance. Business Banking Commercial Banking Commercial Real Estate Discretionary Portfolio Residential Mortgage Banking Retail Banking All Other Total Three Months Ended March 31, 2022 (In thousands) Classification in consolidated statement of income Service charges on deposit accounts $ 14,681 25,571 3,478 — — 56,347 1,430 $ 101,507 Trust income — — — — — — 169,213 169,213 Brokerage services income — — — — — — 20,190 20,190 Other revenues from operations: Merchant discount and credit card fees 12,805 13,459 874 — — 4,510 107 31,755 Other — 1,903 2,464 693 1,729 5,099 12,891 24,779 $ 27,486 40,933 6,816 693 1,729 65,956 203,831 $ 347,444 Three Months Ended March 31, 2021 Classification in consolidated statement of income Service charges on deposit accounts $ 12,497 24,295 2,893 — — 51,452 1,640 $ 92,777 Trust income — — — — — — 156,022 156,022 Brokerage services income — — — — — — 13,113 13,113 Other revenues from operations: Merchant discount and credit card fees 9,481 10,407 445 — — 3,921 109 24,363 Other — 958 1,091 384 1,722 5,807 12,948 22,910 $ 21,978 35,660 4,429 384 1,722 61,180 183,832 $ 309,185 |
Pension plans and other postr_2
Pension plans and other postretirement benefits (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Compensation And Retirement Disclosure [Abstract] | |
Net Periodic Defined Benefit Cost for Defined Benefit Plans | Net periodic defined benefit cost for defined benefit plans consisted of the following: Pension Benefits Other Postretirement Benefits Three Months Ended March 31 2022 2021 2022 2021 (In thousands) Service cost $ 4,271 $ 5,023 $ 232 $ 248 Interest cost on projected benefit obligation 16,267 15,434 355 327 Expected return on plan assets (37,150 ) (35,950 ) — — Amortization of prior service cost (credit) 125 125 (1,075 ) (1,175 ) Amortization of net actuarial loss (gain) 4,625 22,150 (325 ) (300 ) Net periodic cost (benefit) $ (11,862 ) $ 6,782 $ (813 ) $ (900 ) |
Earnings per common share (Tabl
Earnings per common share (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Computations of Basic Earnings Per Common Share | The computations of basic earnings per common share follow: Three Months Ended March 31 2022 2021 (In thousands, except per share) Income available to common shareholders: Net income $ 362,174 $ 447,249 Less: Preferred stock dividends (21,765 ) (17,050 ) Net income available to common equity 340,409 430,199 Less: Income attributable to unvested stock-based compensation awards (820 ) (2,108 ) Net income available to common shareholders $ 339,589 $ 428,091 Weighted-average shares outstanding: Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards 129,274 129,414 Less: Unvested stock-based compensation awards (329 ) (877 ) Weighted-average shares outstanding 128,945 128,537 Basic earnings per common share $ 2.63 $ 3.33 |
Computations of Diluted Earnings Per Common Share | The computations of diluted earnings per common share follow: Three Months Ended March 31 2022 2021 (In thousands, except per share) Net income available to common equity $ 340,409 $ 430,199 Less: Income attributable to unvested stock-based compensation awards (819 ) (2,106 ) Net income available to common shareholders $ 339,590 $ 428,093 Adjusted weighted-average shares outstanding: Common and unvested stock-based compensation awards 129,274 129,414 Less: Unvested stock-based compensation awards (329 ) (877 ) Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock 471 132 Adjusted weighted-average shares outstanding 129,416 128,669 Diluted earnings per common share $ 2.62 $ 3.33 |
Comprehensive income (Tables)
Comprehensive income (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income | The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income: Investment Defined Benefit Total Amount Income Securities Plans Other Before Tax Tax Net (In thousands) Balance — January 1, 2022 $ 104,691 (360,276 ) 83,531 $ (172,054 ) 44,476 $ (127,578 ) Other comprehensive income (loss) before reclassifications: Unrealized holding losses, net (184,955 ) — — (184,955 ) 47,758 (137,197 ) Foreign currency translation adjustment — — (2,123 ) (2,123 ) 475 (1,648 ) Unrealized losses on cash flow hedges — — (115,724 ) (115,724 ) 29,885 (85,839 ) Total other comprehensive income (loss) before reclassifications (184,955 ) — (117,847 ) (302,802 ) 78,118 (224,684 ) Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: Amortization of unrealized holding losses on held-to-maturity securities 1,119 — — 1,119 (a) (289 ) 830 Gains realized in net income — — — — (b) — — Accretion of net gain on terminated cash flow hedges — — (30 ) (30 ) (c) 9 (21 ) Net yield adjustment from cash flow hedges currently in effect — — (38,019 ) (38,019 ) (a) 9,818 (28,201 ) Amortization of prior service credit — (950 ) — (950 ) (d) 305 (645 ) Amortization of actuarial losses — 4,300 — 4,300 (d) (1,386 ) 2,914 Total other comprehensive income (loss) (183,836 ) 3,350 (155,896 ) (336,382 ) 86,575 (249,807 ) Balance — March 31, 2022 $ (79,145 ) (356,926 ) (72,365 ) $ (508,436 ) 131,051 $ (377,385 ) Balance — January 1, 2021 $ 195,386 (650,087 ) 369,558 $ (85,143 ) 22,111 $ (63,032 ) Other comprehensive income (loss) before reclassifications: Unrealized holding losses, net (32,025 ) — — (32,025 ) 8,907 (23,118 ) Foreign currency translation adjustment — — 684 684 (136 ) 548 Unrealized losses on cash flow hedges — — (9,498 ) (9,498 ) 2,571 (6,927 ) Total other comprehensive income (loss) before reclassifications (32,025 ) — (8,814 ) (40,839 ) 11,342 (29,497 ) Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: Amortization of unrealized holding losses on held-to-maturity securities 990 — — 990 (a) (276 ) 714 Gains realized in net income (3 ) — — (3 ) (b) 1 (2 ) Accretion of net gain on terminated cash flow hedges — — (30 ) (30 ) (c) 9 (21 ) Net yield adjustment from cash flow hedges currently in effect — — (82,044 ) (82,044 ) (a) 22,215 (59,829 ) Amortization of prior service credit — (1,050 ) — (1,050 ) (d) 384 (666 ) Amortization of actuarial losses — 21,850 — 21,850 (d) (7,995 ) 13,855 Total other comprehensive income (loss) (31,038 ) 20,800 (90,888 ) (101,126 ) 25,680 (75,446 ) Balance — March 31, 2021 $ 164,348 (629,287 ) 278,670 $ (186,269 ) 47,791 $ (138,478 ) (a) Included in interest income. (b) Included in gain (loss) on bank investment securities. (c) Included in interest expense. (d) Included in other costs of operations. |
Accumulated Other Comprehensive Income (Loss), Net | Accumulated other comprehensive income (loss), net consisted of the following: Defined Investment Benefit Securities Plans Other Total (In thousands) Balance — December 31, 2021 $ 77,625 $ (267,145 ) $ 61,942 $ (127,578 ) Net gain (loss) during period (136,367 ) 2,269 (115,709 ) (249,807 ) Balance — March 31, 2022 $ (58,742 ) $ (264,876 ) $ (53,767 ) $ (377,385 ) |
Derivative financial instrume_2
Derivative financial instruments (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Information about Interest Rate Swap Agreements | Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows: Weighted- Estimated Notional Average Average Rate Fair Value Amount Maturity Fixed Variable Gain (In thousands) (In (In March 31, 2022 Fair value hedges: Fixed rate long-term borrowings (b) $ 1,650,000 2.1 2.86 % 1.09 % $ 1,022 Cash flow hedges: Interest payments on variable rate commercial real estate loans (b)(c) 19,000,000 0.9 1.31 % 0.35 % 2,819 Total $ 20,650,000 1.0 $ 3,841 December 31, 2021 Fair value hedges: Fixed rate long-term borrowings (b) $ 1,650,000 2.3 2.86 % 0.74 % $ 41 Cash flow hedges: Interest payments on variable rate commercial real estate loans (b)(d) 21,700,000 0.6 1.24 % 0.09 % (248 ) Total $ 23,350,000 0.7 $ (207 ) (a) Certain clearinghouse exchanges consider payments by counterparties for variation margin on derivative instruments to be settlements of those positions. The impact of such payments for interest rate swap agreements designated as fair value hedges was a net settlement of losses of $782,000 at March 31, 2022 and a net settlement of gains of $43.5 million at December 31, 2021. The impact of such payments on interest rate swap agreements designated as cash flow hedges was a net settlement of losses of $68.7 million at March 31, 2022 and net settlement of gains of $88.2 million at December 31, 2021. (b) Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate. (c) (d) . |
Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet | Information about the fair values of derivative instruments in the Company’s consolidated balance sheet and consolidated statement of income follows: Asset Derivatives Liability Derivatives Fair Value Fair Value March 31, December 31, March 31, December 31, 2022 2021 2022 2021 (In thousands) Derivatives designated and qualifying as hedging instruments Interest rate swap agreements (a) $ 4,298 $ 258 $ 457 $ 465 Commitments to sell real estate loans (a) 10,002 4,044 74 548 14,300 4,302 531 1,013 Derivatives not designated and qualifying as hedging instruments Mortgage-related commitments to originate real estate loans for sale (a) 1,319 11,728 16,747 5,288 Commitments to sell real estate loans (a) 26,680 8,137 799 4,108 Trading: Interest rate contracts (b) 141,066 410,056 292,873 76,278 Foreign exchange and other option and futures contracts (b) 9,637 8,230 9,633 7,156 178,702 438,151 320,052 92,830 Total derivatives $ 193,002 $ 442,453 $ 320,583 $ 93,843 (a) Asset derivatives are reported in other assets and liability derivatives are reported in other liabilities. (b) Asset derivatives are reported in trading account assets and liability derivatives are reported in other liabilities. The impact of variation margin payments at March 31, 2022 and December 31, 2021 was a reduction of the estimated fair value of interest rate contracts in the trading account in an asset position of $277.6 million and $54.4 million, respectively, and in a liability position of $45.9 million and $305.1 million, respectively. Carrying Amount of the Hedged Item Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount of the Hedged Item March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 (In thousands) Location in the of the Hedged Items in Fair Value Long-term debt $ 1,650,130 $ 1,692,943 $ 612 $ 43,610 |
Information about Fair Values of Derivative Instruments in Consolidated Statement of Income | Amount of Gain (Loss) Recognized Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Derivative Hedged Item Derivative Hedged Item (In thousands) Derivatives in fair value hedging relationships Interest rate swap agreements: Fixed rate long-term borrowings (a) $ (43,273 ) 42,998 $ (32,658 ) 31,898 Derivatives not designated as hedging instruments Trading: Interest rate contracts (b) $ 106 $ (3,234 ) Foreign exchange and other option and futures contracts (b) 1,746 1,608 Total $ 1,852 $ (1,626 ) (a) Reported as an adjustment to interest expense. (b) Reported as trading account and foreign exchange gains. |
Fair value measurements (Tables
Fair value measurements (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis | The following tables present assets and liabilities at March 31, 2022 and December 31, 2021 measured at estimated fair value on a recurring basis: Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) March 31, 2022 Trading account assets $ 197,558 $ 46,655 $ 150,903 $ — Investment securities available for sale: U.S. Treasury and federal agencies 2,789,717 — 2,789,717 — Mortgage-backed securities: Government issued or guaranteed 2,795,177 — 2,795,177 — Other debt securities 120,305 — 120,305 — 5,705,199 — 5,705,199 — Equity securities 81,165 72,166 8,999 — Real estate loans held for sale 454,003 — 454,003 — Other assets (a) 42,299 — 40,980 1,319 Total assets $ 6,480,224 $ 118,821 $ 6,360,084 $ 1,319 Trading account liabilities $ 302,506 $ — $ 302,506 $ — Other liabilities (a) 18,077 — 1,330 16,747 Total liabilities $ 320,583 $ — $ 303,836 $ 16,747 December 31, 2021 Trading account assets $ 468,031 $ 49,545 $ 418,486 $ — Investment securities available for sale: U.S. Treasury and federal agencies 678,690 — 678,690 — Mortgage-backed securities: Government issued or guaranteed 3,155,312 — 3,155,312 — Other debt securities 121,802 — 121,802 — 3,955,804 — 3,955,804 — Equity securities 77,640 68,850 8,790 — Real estate loans held for sale 899,282 — 899,282 — Other assets (a) 24,167 — 12,439 11,728 Total assets $ 5,424,924 $ 118,395 $ 5,294,801 $ 11,728 Trading account liabilities $ 83,434 $ — $ 83,434 $ — Other liabilities (a) 10,409 — 5,121 5,288 Total liabilities $ 93,843 $ — $ 88,555 $ 5,288 (a) Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 3). |
Changes In Level Three Assets And Liabilities Measured At Estimated Fair Value On Recurring Basis Table Text Block | The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the three months ended March 31, 2022 and 2021 were as follows: Investment Securities Available for Sale Privately Issued Mortgage-Backed Other Assets 2022 (In thousands) Balance — January 1, 2022 $ — $ 6,440 Total gains realized/unrealized: Included in earnings — (18,700 ) (a) Transfers out of Level 3 — (3,168 ) (b) Balance — March 31, 2022 $ — (15,428 ) Changes in unrealized gains included in earnings related to assets still held at March 31, 2022 $ — $ (13,219 ) (a) 2021 Balance — January 1, 2021 $ 16 $ 43,234 Total gains realized/unrealized: Included in earnings — 6,025 (a) Transfers out of Level 3 — (35,502 ) (b) Balance — March 31, 2021 $ 16 13,757 Changes in unrealized gains included in earnings related to assets still held at March 31, 2021 $ — $ 5,300 (a) (a) Reported as mortgage banking revenues in the consolidated statement of income and includes the fair value of commitment issuances and expirations. (b) Transfers out of Level 3 consist of interest rate locks transferred to closed loans. |
Quantitative Information Related To Significant Unobservable Inputs Table Text Block | The following tables present quantitative information about significant unobservable inputs used in the fair value measurements for certain Level 3 assets and liabilities at March 31, 2022 and December 31, 2021: Fair Value Valuation Technique Unobservable Inputs/Assumptions Range (Weighted- Average) (In March 31, 2022 Recurring fair value measurements Net other assets (liabilities) (a) (15,428 ) Discounted cash flow Commitment expirations 0% - 96% (8%) December 31, 2021 Recurring fair value measurements Net other assets (liabilities) (a) 6,440 Discounted cash flow Commitment expirations 0% - 80% (10%) (a) Other Level 3 assets (liabilities) consist of commitments to originate real estate loans. |
Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities) | The carrying amounts and estimated fair value for financial instrument assets (liabilities) are presented in the following table: March 31, 2022 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 1,411,460 1,411,460 1,292,609 118,851 — Interest-bearing deposits at banks 36,025,382 36,025,382 — 36,025,382 — Trading account assets 197,558 197,558 46,655 150,903 — Investment securities 9,356,832 9,218,915 72,166 9,090,244 56,505 Loans and leases: Commercial loans and leases 23,496,017 23,231,047 — — 23,231,047 Commercial real estate loans 34,553,558 33,804,132 — 215,764 33,588,368 Residential real estate loans 15,595,879 15,118,857 — 4,674,686 10,444,171 Consumer loans 18,162,938 18,307,086 — — 18,307,086 Allowance for credit losses (1,472,359 ) — — — — Loans and leases, net 90,336,033 90,461,122 — 4,890,450 85,570,672 Accrued interest receivable 301,864 301,864 — 301,864 — Financial liabilities: Noninterest-bearing deposits $ (58,520,366 ) (58,520,366 ) — (58,520,366 ) — Savings (65,273,150 ) (65,273,150 ) — (65,273,150 ) — Time deposits (2,525,197 ) (2,526,204 ) — (2,526,204 ) — Short-term borrowings (50,307 ) (50,307 ) — (50,307 ) — Long-term borrowings (3,443,587 ) (3,464,637 ) — (3,464,637 ) — Accrued interest payable (23,316 ) (23,316 ) — (23,316 ) — Trading account liabilities (302,506 ) (302,506 ) — (302,506 ) — Other financial instruments: Commitments to originate real estate loans for sale $ (15,428 ) (15,428 ) — — (15,428 ) Commitments 35,809 35,809 — 35,809 — Other credit-related commitments (118,390 ) (118,390 ) — — (118,390 ) Interest rate swap agreements used for interest rate risk management 3,841 3,841 — 3,841 — 12. Fair value measurements, continued December 31, 2021 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 1,337,577 1,337,577 1,205,269 132,308 — Interest-bearing deposits at banks 41,872,304 41,872,304 — 41,872,304 — Trading account assets 468,031 468,031 49,545 418,486 — Investment securities 7,155,860 7,192,476 68,850 7,066,293 57,333 Loans and leases: Commercial loans and leases 23,473,324 23,285,224 — — 23,285,224 Commercial real estate loans 35,389,730 34,730,191 — 425,010 34,305,181 Residential real estate loans 16,074,445 16,160,799 — 4,524,018 11,636,781 Consumer loans 17,974,953 18,121,363 — — 18,121,363 Allowance for credit losses (1,469,226 ) — — — — Loans and leases, net 91,443,226 92,297,577 — 4,949,028 87,348,549 Accrued interest receivable 335,162 335,162 — 335,162 — Financial liabilities: Noninterest-bearing deposits $ (60,131,480 ) (60,131,480 ) — (60,131,480 ) — Savings (68,603,966 ) (68,603,966 ) — (68,603,966 ) — Time deposits (2,807,963 ) (2,810,143 ) — (2,810,143 ) — Short-term borrowings (47,046 ) (47,046 ) — (47,046 ) — Long-term borrowings (3,485,369 ) (3,562,223 ) — (3,562,223 ) — Accrued interest payable (40,866 ) (40,866 ) — (40,866 ) — Trading account liabilities (83,434 ) (83,434 ) — (83,434 ) — Other financial instruments: Commitments to originate real estate loans for sale $ 6,440 6,440 — — 6,440 Commitments 7,525 7,525 — 7,525 — Other credit-related commitments (123,032 ) (123,032 ) — — (123,032 ) Interest rate swap agreements used for interest rate risk management (207 ) (207 ) — (207 ) — |
Commitments and contingencies (
Commitments and contingencies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities Outstanding | The following table presents the Company's significant commitments. Certain of these commitments are not included in the Company's consolidated balance sheet. March 31, December 31, 2022 2021 (In thousands) Commitments to extend credit Home equity lines of credit $ 5,713,950 $ 5,693,045 Commercial real estate loans to be sold 321,654 324,943 Other commercial real estate 4,523,995 4,998,631 Residential real estate loans to be sold 146,491 233,257 Other residential real estate 982,216 924,211 Commercial and other 21,884,664 22,145,057 Standby letters of credit 2,177,405 2,151,595 Commercial letters of credit 53,732 31,981 Financial guarantees and indemnification contracts 4,453,722 4,211,797 Commitments to sell real estate loans 862,061 1,367,523 |
Segment information (Tables)
Segment information (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
Information about Company's Segments | Information about the Company's segments is presented in the following table: Three Months Ended March 31 2022 2021 Total Revenues(a) Inter- segment Revenues Net Income (Loss) Total Revenues(a) Inter- segment Revenues Net Income (Loss) (In thousands) Business Banking $ 141,346 $ 671 $ 41,111 $ 155,903 $ 669 $ 46,271 Commercial Banking 289,372 863 144,608 285,912 809 122,638 Commercial Real Estate 202,087 179 97,610 200,843 222 71,272 Discretionary Portfolio 64,727 (27,805 ) 35,385 134,544 (10,027 ) 90,546 Residential 137,444 37,464 28,964 153,760 22,183 49,611 Retail Banking 355,148 (3 ) 84,164 346,917 272 85,358 All Other 254,937 (11,369 ) (69,668 ) 209,114 (14,128 ) (18,447 ) Total $ 1,445,061 $ — $ 362,174 $ 1,486,993 $ — $ 447,249 Average Total Assets Three Months Ended March 31 Year Ended December 2022 2021 2021 (In millions) Business Banking $ 6,568 $ 8,622 $ 8,007 Commercial Banking 27,620 30,395 28,559 Commercial Real Estate 22,648 26,097 25,628 Discretionary Portfolio 22,899 23,650 22,262 Residential Mortgage Banking 6,250 6,506 6,463 Retail Banking 18,610 17,216 17,897 All Other 47,053 35,671 43,853 Total $ 151,648 $ 148,157 $ 152,669 (a) Total revenues are comprised of net interest income and other income. Net interest income is the difference between taxable-equivalent interest earned on assets and interest paid on liabilities owed by a segment and a funding charge (credit) based on the Company's internal funds transfer and allocation methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $3,234,000 and $3,733,000 for the three-month periods ended March 31, 2022 and 2021, respectively, and is eliminated in "All Other" total revenues. Intersegment revenues are included in total revenues of the reportable segments. The elimination of intersegment revenues is included in the determination of "All Other" total revenues |
Acquisition - Additional Inform
Acquisition - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | Apr. 01, 2022 | Mar. 31, 2022 | Mar. 31, 2021 |
Subsequent Event [Member] | Common Stock [Member] | |||
Business Acquisition [Line Items] | |||
Common stock issued in transaction | 50,325,004 | ||
Peoples United Financial Inc [Member] | |||
Business Acquisition [Line Items] | |||
Assets | $ 63,000 | ||
Loans | 36,300 | ||
Investment securities | 11,600 | ||
Deposits | $ 53,000 | ||
Liabilities | 55,500 | ||
Stockholders' equity | 7,500 | ||
Peoples United Financial Inc [Member] | Investment Banking, Legal and Other Services [Member] | |||
Business Acquisition [Line Items] | |||
Merger-related expenses | 17 | $ 10 | |
Peoples United Financial Inc [Member] | Preferred Stock [Member] | |||
Business Acquisition [Line Items] | |||
Stockholders' equity | $ 244 | ||
Peoples United Financial Inc [Member] | Subsequent Event [Member] | |||
Business Acquisition [Line Items] | |||
Business combination, market value | $ 8,400 | ||
Common stock, price per share | $ 164.66 | ||
MT [Member] | Subsequent Event [Member] | |||
Business Acquisition [Line Items] | |||
Common stock, price per share | $ 0.118 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | $ 5,783,697 | $ 3,849,347 |
Investment securities available for sale, gross unrealized gains | 16,302 | 115,305 |
Investment securities available for sale, gross unrealized losses | 94,800 | 8,848 |
Investment securities available for sale, estimated fair value | 5,705,199 | 3,955,804 |
Amortized cost for held to maturity | 3,180,626 | 2,734,674 |
Gross unrealized gains for held to maturity | 15,139 | 59,743 |
Gross unrealized losses for held to maturity | 153,056 | 23,127 |
Estimated fair value for held to maturity | 3,042,709 | 2,771,290 |
Equity and other securities, Amortized Cost | 467,884 | 461,516 |
Equity securities, Gross Unrealized Gains | 4,653 | 4,460 |
Equity securities, Gross Unrealized Losses | 1,530 | 594 |
Equity and other securities, Estimated Fair Value | 471,007 | 465,382 |
Other securities, Amortized cost | 389,842 | 387,742 |
Other securities, Estimated fair value | 389,842 | 387,742 |
Total debt securities Amortized cost | 8,964,323 | 6,584,021 |
Total debt securities Gross unrealized gains | 31,441 | 175,048 |
Total debt securities Gross unrealized losses | 247,856 | 31,975 |
Total debt securities Estimated fair value | 8,747,908 | 6,727,094 |
Readily marketable securities Amortized cost | 78,042 | 73,774 |
Readily marketable securities Gross unrealized gains | 4,653 | 4,460 |
Readily marketable securities Gross unrealized losses | 1,530 | 594 |
Readily marketable securities Estimated fair value | 81,165 | 77,640 |
U.S. Treasury and Federal Agencies [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 2,838,987 | 682,267 |
Investment securities available for sale, gross unrealized gains | 707 | 229 |
Investment securities available for sale, gross unrealized losses | 49,977 | 3,806 |
Investment securities available for sale, estimated fair value | 2,789,717 | 678,690 |
Amortized cost for held to maturity | 3,038 | 3,052 |
Gross unrealized losses for held to maturity | 24 | 9 |
Estimated fair value for held to maturity | 3,014 | 3,043 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Amortized cost for held to maturity | 175 | 177 |
Gross unrealized gains for held to maturity | 2 | |
Estimated fair value for held to maturity | 175 | 179 |
Government Issued or Guaranteed [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 2,820,570 | 3,042,771 |
Investment securities available for sale, gross unrealized gains | 14,599 | 113,102 |
Investment securities available for sale, gross unrealized losses | 39,992 | 561 |
Investment securities available for sale, estimated fair value | 2,795,177 | 3,155,312 |
Amortized cost for held to maturity | 3,117,175 | 2,667,328 |
Gross unrealized gains for held to maturity | 4,830 | 49,221 |
Gross unrealized losses for held to maturity | 141,477 | 8,376 |
Estimated fair value for held to maturity | 2,980,528 | 2,708,173 |
Other Debt Securities [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 124,140 | 124,309 |
Investment securities available for sale, gross unrealized gains | 996 | 1,974 |
Investment securities available for sale, gross unrealized losses | 4,831 | 4,481 |
Investment securities available for sale, estimated fair value | 120,305 | 121,802 |
Amortized cost for held to maturity | 2,487 | 2,562 |
Estimated fair value for held to maturity | 2,487 | 2,562 |
Privately Issued [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Amortized cost for held to maturity | 57,751 | 61,555 |
Gross unrealized gains for held to maturity | 10,309 | 10,520 |
Gross unrealized losses for held to maturity | 11,555 | 14,742 |
Estimated fair value for held to maturity | $ 56,505 | $ 57,333 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2022USD ($)Security | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($) | |
Investment Holdings [Line Items] | |||
Gross realized gains(loss) on sale of investment securities | $ 0 | $ 0 | |
Gains (losses) on equity securities | $ (743,000) | $ (12,282,000) | |
Number of debt securities with aggregate gross unrealized losses | Security | 1,217 | ||
Unrealized losses on individual debt securities | $ 248,000,000 | ||
Cost method equity securities | 390,000,000 | ||
Available-for-Sale Securities [Member] | |||
Investment Holdings [Line Items] | |||
Allowance for credit losses | $ 0 | $ 0 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Debt securities available for sale: | ||
Due in one year or less | $ 6,955 | |
Due after one year through five years | 2,895,828 | |
Due after five years through ten years | 30,344 | |
Due after ten years | 30,000 | |
Total available for sale (amortized cost) | 2,963,127 | |
Mortgage-backed securities available for sale | 2,820,570 | |
Investment securities available for sale, amortized cost | 5,783,697 | $ 3,849,347 |
Debt securities held to maturity: | ||
Due in one year or less | 3,213 | |
Due after ten years | 2,487 | |
Total available for held to maturity (amortized cost) | 5,700 | |
Mortgage-backed securities held to maturity | 3,174,926 | |
Amortized cost for held to maturity | 3,180,626 | 2,734,674 |
Debt securities available for sale: | ||
Due in one year or less | 6,947 | |
Due after one year through five years | 2,846,337 | |
Due after five years through ten years | 30,018 | |
Due after ten years | 26,720 | |
Total available for sale (fair value) | 2,910,022 | |
Mortgage-backed securities available for sale | 2,795,177 | |
Total | 5,705,199 | 3,955,804 |
Debt securities held to maturity: | ||
Due in one year or less | 3,189 | |
Due after ten years | 2,487 | |
Total available for held to maturity (fair value) | 5,676 | |
Mortgage-backed securities held to maturity | 3,037,033 | |
Total | $ 3,042,709 | $ 2,771,290 |
Investment Securities - Investm
Investment Securities - Investment Securities in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | $ 4,449,054 | $ 612,437 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | 89,464 | 3,934 |
Estimated fair value, 12 months or more | 87,780 | 87,243 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 5,336 | 4,914 |
Held to maturity, Estimated fair value, Less than 12 months | 2,642,970 | 1,375,279 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | 141,443 | 8,365 |
Held to maturity, Estimated fair value, 12 months or more | 39,714 | 44,943 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | 11,613 | 14,762 |
Total investment securities, fair value less than 12 months | 7,092,024 | 1,987,716 |
Investment Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses | 230,907 | 12,299 |
Total of investment securities, fair value, 12 Months or More | 127,494 | 132,186 |
Investment Securities Continuous Unrealized Loss Position Twelve Months or Longer Aggregate Losses | 16,949 | 19,676 |
U.S. Treasury and Federal Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | 2,341,892 | 598,566 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | 49,970 | 3,806 |
Estimated fair value, 12 months or more | 293 | |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 7 | |
Held to maturity, Estimated fair value, Less than 12 months | 3,014 | 3,043 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | 24 | 9 |
Government Issued or Guaranteed [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | 2,099,805 | 10,111 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | 39,425 | 54 |
Estimated fair value, 12 months or more | 19,599 | 20,824 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 567 | 507 |
Held to maturity, Estimated fair value, Less than 12 months | 2,639,956 | 1,372,236 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | 141,419 | 8,356 |
Held to maturity, Estimated fair value, 12 months or more | 1,178 | 1,251 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | 58 | 20 |
Other Debt Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | 7,357 | 3,760 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | 69 | 74 |
Estimated fair value, 12 months or more | 67,888 | 66,419 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 4,762 | 4,407 |
Privately Issued [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Held to maturity, Estimated fair value, 12 months or more | 38,536 | 43,692 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | $ 11,555 | $ 14,742 |
Loans and Leases and the Allo_3
Loans and Leases and the Allowance for Credit Losses - Summary of Current, Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | $ 88,104,572 | $ 89,043,040 |
30-89 Days Past Due | 792,838 | 845,930 |
Accruing Loans Past Due 90 Days or More | 776,751 | 963,399 |
Nonaccrual | 2,134,231 | 2,060,083 |
Loans and leases, net of unearned discount | 91,808,392 | 92,912,452 |
Commercial, Financial, Leasing, etc. [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 23,140,917 | 23,101,810 |
30-89 Days Past Due | 70,716 | 142,208 |
Accruing Loans Past Due 90 Days or More | 9,238 | 8,284 |
Nonaccrual | 275,146 | 221,022 |
Loans and leases, net of unearned discount | 23,496,017 | 23,473,324 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 24,237,034 | 24,712,643 |
30-89 Days Past Due | 250,362 | 319,099 |
Accruing Loans Past Due 90 Days or More | 76,413 | 31,733 |
Nonaccrual | 1,157,686 | 1,069,280 |
Loans and leases, net of unearned discount | 25,721,495 | 26,132,755 |
Residential Builder and Developer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 1,381,331 | 1,400,437 |
30-89 Days Past Due | 840 | 2,904 |
Nonaccrual | 2,916 | 3,005 |
Loans and leases, net of unearned discount | 1,385,087 | 1,406,346 |
Other Commercial Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 7,283,522 | 7,722,049 |
30-89 Days Past Due | 112,599 | 17,175 |
Nonaccrual | 50,855 | 111,405 |
Loans and leases, net of unearned discount | 7,446,976 | 7,850,629 |
Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 13,126,694 | 13,294,872 |
30-89 Days Past Due | 249,731 | 239,561 |
Accruing Loans Past Due 90 Days or More | 687,397 | 920,080 |
Nonaccrual | 341,671 | 355,858 |
Loans and leases, net of unearned discount | 14,405,493 | 14,810,371 |
Residential Limited Documentation [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 1,050,328 | 1,124,520 |
30-89 Days Past Due | 16,546 | 16,666 |
Nonaccrual | 123,512 | 122,888 |
Loans and leases, net of unearned discount | 1,190,386 | 1,264,074 |
Home Equity Lines and Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 3,407,958 | 3,476,617 |
30-89 Days Past Due | 16,939 | 15,486 |
Nonaccrual | 71,489 | 70,488 |
Loans and leases, net of unearned discount | 3,496,386 | 3,562,591 |
Recreational Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 8,156,368 | 7,985,173 |
30-89 Days Past Due | 33,093 | 40,544 |
Nonaccrual | 31,546 | 27,811 |
Loans and leases, net of unearned discount | 8,221,007 | 8,053,528 |
Automobile [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 4,688,513 | 4,604,772 |
30-89 Days Past Due | 31,707 | 40,064 |
Nonaccrual | 35,350 | 34,037 |
Loans and leases, net of unearned discount | 4,755,570 | 4,678,873 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 1,631,907 | 1,620,147 |
30-89 Days Past Due | 10,305 | 12,223 |
Accruing Loans Past Due 90 Days or More | 3,703 | 3,302 |
Nonaccrual | 44,060 | 44,289 |
Loans and leases, net of unearned discount | $ 1,689,975 | $ 1,679,961 |
Loans and Leases and the Allo_4
Loans and Leases and the Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Loans And Leases Receivable [Line Items] | |||
Loans and leases, net of unearned discount | $ 62,294 | $ 129,961 | |
Amount of foreclosed residential real estate property held | 24,000 | $ 24,000 | |
Loans secured by residential real estate that were in the process of foreclosure | $ 186,000 | 151,000 | |
Percentage loans in the process of foreclosure, serviced by other entities, classified as government guaranteed | 50.00% | ||
Minimum [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Loan delinquent period | 90 days | ||
Maximum [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Loan delinquent period | 150 days | ||
Residential Mortgage Loans [Member] | One-to-Four Family Residential [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Mortgage loans held for sale | $ 238,000 | 474,000 | |
Commercial Real Estate Loans [Member] | One-to-Four Family Residential [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Mortgage loans held for sale | 216,000 | 425,000 | |
Commercial Loans and Commercial Real Estate [Member] | Minimum [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Amount of real estate loan as reported as accruing or nonaccruing | 1,000 | ||
COVID-19 [Member] | Government-Guaranteed Loans [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Loans and leases, net of unearned discount | 323,000 | 974,000 | |
Payment Deferral [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Loans and leases, net of unearned discount | 46,178 | $ 85,516 | |
Payment Deferral [Member] | COVID-19 [Member] | Residential Real Estate [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Loans and leases, net of unearned discount | $ 445,000 | $ 1,200,000 |
Loans and Leases and the Allo_5
Loans and Leases and the Allowance for Credit Losses - Summary of Loan grades applied various classes of Commercial and Real Estate Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | $ 91,808,392 | $ 92,912,452 |
Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 16,769,547 | 16,234,904 |
Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,239,662 | 1,199,887 |
Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 23,496,017 | 23,473,324 |
Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 22,119,325 | 22,054,341 |
Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,101,546 | 1,197,961 |
Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 275,146 | 221,022 |
Commercial, Financial, Leasing, etc. [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 12,160,043 | 11,538,391 |
Commercial, Financial, Leasing, etc. [Member] | Revolving Loans [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11,620,841 | 10,993,461 |
Commercial, Financial, Leasing, etc. [Member] | Revolving Loans [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 431,138 | 484,755 |
Commercial, Financial, Leasing, etc. [Member] | Revolving Loans [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 108,064 | 60,175 |
Commercial, Financial, Leasing, etc. [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 43,562 | 40,836 |
Commercial, Financial, Leasing, etc. [Member] | Revolving Loans Converted to Term Loans [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 21,332 | 18,699 |
Commercial, Financial, Leasing, etc. [Member] | Revolving Loans Converted to Term Loans [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 15,772 | 15,628 |
Commercial, Financial, Leasing, etc. [Member] | Revolving Loans Converted to Term Loans [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 6,458 | 6,509 |
Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 25,721,495 | 26,132,755 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 20,182,367 | 20,445,045 |
Commercial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,381,442 | 4,618,430 |
Commercial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,157,686 | 1,069,280 |
Commercial [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 871,280 | 805,609 |
Commercial [Member] | Revolving Loans [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 802,747 | 728,948 |
Commercial [Member] | Revolving Loans [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 37,037 | 38,570 |
Commercial [Member] | Revolving Loans [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 31,496 | 38,091 |
Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,385,087 | 1,406,346 |
Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,245,132 | 1,263,514 |
Residential Builder and Developer [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 137,039 | 139,827 |
Residential Builder and Developer [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,916 | 3,005 |
Residential Builder and Developer [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 207,064 | 230,908 |
Residential Builder and Developer [Member] | Revolving Loans [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 203,455 | 230,017 |
Residential Builder and Developer [Member] | Revolving Loans [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,609 | 891 |
Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 7,446,976 | 7,850,629 |
Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5,770,452 | 6,059,379 |
Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,625,669 | 1,679,845 |
Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 50,855 | 111,405 |
Other Commercial Construction [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 36,587 | 43,037 |
Other Commercial Construction [Member] | Revolving Loans [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 30,026 | 38,781 |
Other Commercial Construction [Member] | Revolving Loans [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,092 | |
Other Commercial Construction [Member] | Revolving Loans [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,469 | 4,256 |
Term Loans 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,600,284 | |
Term Loans 2022 [Member] | Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,057,405 | |
Term Loans 2022 [Member] | Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,055,017 | |
Term Loans 2022 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,158 | |
Term Loans 2022 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 230 | |
Term Loans 2022 [Member] | Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 841,183 | |
Term Loans 2022 [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 841,183 | |
Term Loans 2022 [Member] | Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 148,495 | |
Term Loans 2022 [Member] | Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 148,495 | |
Term Loans 2022 [Member] | Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 51,849 | |
Term Loans 2022 [Member] | Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 51,528 | |
Term Loans 2022 [Member] | Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 321 | |
Term Loans 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 17,170,499 | 18,817,411 |
Term Loans 2021 [Member] | Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,306,140 | 5,014,194 |
Term Loans 2021 [Member] | Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,113,672 | 4,798,052 |
Term Loans 2021 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 160,026 | 196,680 |
Term Loans 2021 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 32,442 | 19,462 |
Term Loans 2021 [Member] | Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,135,103 | 3,568,307 |
Term Loans 2021 [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,820,491 | 3,413,587 |
Term Loans 2021 [Member] | Commercial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 303,277 | 133,133 |
Term Loans 2021 [Member] | Commercial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11,335 | 21,587 |
Term Loans 2021 [Member] | Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 697,846 | 789,038 |
Term Loans 2021 [Member] | Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 693,998 | 786,983 |
Term Loans 2021 [Member] | Residential Builder and Developer [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,848 | 2,055 |
Term Loans 2021 [Member] | Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,137,827 | 982,050 |
Term Loans 2021 [Member] | Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,105,470 | 957,947 |
Term Loans 2021 [Member] | Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 32,357 | 24,103 |
Term Loans Prior Period [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 21,736,287 | 18,542,940 |
Term Loans Prior Period [Member] | Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,974,747 | 1,618,408 |
Term Loans Prior Period [Member] | Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,672,521 | 1,398,775 |
Term Loans Prior Period [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 239,338 | 185,935 |
Term Loans Prior Period [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 62,888 | 33,698 |
Term Loans Prior Period [Member] | Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 9,402,669 | 7,497,061 |
Term Loans Prior Period [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 6,945,820 | 5,232,790 |
Term Loans Prior Period [Member] | Commercial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,824,893 | 1,743,798 |
Term Loans Prior Period [Member] | Commercial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 631,956 | 520,473 |
Term Loans Prior Period [Member] | Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 13,371 | 12,545 |
Term Loans Prior Period [Member] | Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 13,301 | 12,450 |
Term Loans Prior Period [Member] | Residential Builder and Developer [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 63 | |
Term Loans Prior Period [Member] | Residential Builder and Developer [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 7 | 95 |
Term Loans Prior Period [Member] | Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 702,215 | 407,684 |
Term Loans Prior Period [Member] | Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 347,883 | 273,556 |
Term Loans Prior Period [Member] | Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 322,078 | 114,158 |
Term Loans Prior Period [Member] | Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 32,254 | 19,970 |
Term Loans 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11,573,793 | 12,376,366 |
Term Loans 2020 [Member] | Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,696,712 | 2,037,896 |
Term Loans 2020 [Member] | Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,587,360 | 1,916,072 |
Term Loans 2020 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 85,975 | 98,595 |
Term Loans 2020 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 23,377 | 23,229 |
Term Loans 2020 [Member] | Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,181,725 | 3,276,705 |
Term Loans 2020 [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,575,823 | 2,662,999 |
Term Loans 2020 [Member] | Commercial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 435,302 | 480,146 |
Term Loans 2020 [Member] | Commercial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 170,600 | 133,560 |
Term Loans 2020 [Member] | Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 78,601 | 111,866 |
Term Loans 2020 [Member] | Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 72,171 | 106,510 |
Term Loans 2020 [Member] | Residential Builder and Developer [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 6,430 | 5,356 |
Term Loans 2020 [Member] | Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,841,228 | 1,835,794 |
Term Loans 2020 [Member] | Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,763,832 | 1,781,603 |
Term Loans 2020 [Member] | Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 77,290 | 54,191 |
Term Loans 2020 [Member] | Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 106 | |
Term Loans 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11,481,256 | 12,286,933 |
Term Loans 2019 [Member] | Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,373,168 | 1,600,910 |
Term Loans 2019 [Member] | Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,244,516 | 1,476,786 |
Term Loans 2019 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 112,346 | 107,010 |
Term Loans 2019 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 16,306 | 17,114 |
Term Loans 2019 [Member] | Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,470,225 | 4,562,963 |
Term Loans 2019 [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,515,526 | 3,682,178 |
Term Loans 2019 [Member] | Commercial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 760,867 | 685,701 |
Term Loans 2019 [Member] | Commercial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 193,832 | 195,084 |
Term Loans 2019 [Member] | Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 177,826 | 195,455 |
Term Loans 2019 [Member] | Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 65,188 | 75,287 |
Term Loans 2019 [Member] | Residential Builder and Developer [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 109,729 | 117,258 |
Term Loans 2019 [Member] | Residential Builder and Developer [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,909 | 2,910 |
Term Loans 2019 [Member] | Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,582,180 | 2,769,115 |
Term Loans 2019 [Member] | Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,898,002 | 2,022,276 |
Term Loans 2019 [Member] | Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 673,544 | 675,226 |
Term Loans 2019 [Member] | Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 10,634 | 71,613 |
Term Loans 2018 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 7,237,064 | 7,895,140 |
Term Loans 2018 [Member] | Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 884,240 | 1,064,915 |
Term Loans 2018 [Member] | Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 804,066 | 951,881 |
Term Loans 2018 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 54,793 | 73,126 |
Term Loans 2018 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 25,381 | 39,908 |
Term Loans 2018 [Member] | Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,819,310 | 3,800,797 |
Term Loans 2018 [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,680,777 | 2,648,388 |
Term Loans 2018 [Member] | Commercial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,020,066 | 1,068,552 |
Term Loans 2018 [Member] | Commercial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 118,467 | 83,857 |
Term Loans 2018 [Member] | Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 61,884 | 61,224 |
Term Loans 2018 [Member] | Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 48,524 | 47,587 |
Term Loans 2018 [Member] | Residential Builder and Developer [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 13,360 | 13,637 |
Term Loans 2018 [Member] | Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,095,090 | 1,419,278 |
Term Loans 2018 [Member] | Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 573,711 | 832,547 |
Term Loans 2018 [Member] | Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 517,987 | 583,428 |
Term Loans 2018 [Member] | Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | $ 3,392 | 3,303 |
Term Loans 2017 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5,558,871 | |
Term Loans 2017 [Member] | Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 557,774 | |
Term Loans 2017 [Member] | Commercial, Financial, Leasing, etc. [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 500,615 | |
Term Loans 2017 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 36,232 | |
Term Loans 2017 [Member] | Commercial, Financial, Leasing, etc. [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 20,927 | |
Term Loans 2017 [Member] | Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,621,313 | |
Term Loans 2017 [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,076,155 | |
Term Loans 2017 [Member] | Commercial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 468,530 | |
Term Loans 2017 [Member] | Commercial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 76,628 | |
Term Loans 2017 [Member] | Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5,310 | |
Term Loans 2017 [Member] | Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,680 | |
Term Loans 2017 [Member] | Residential Builder and Developer [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 630 | |
Term Loans 2017 [Member] | Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 393,671 | |
Term Loans 2017 [Member] | Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 152,669 | |
Term Loans 2017 [Member] | Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 228,739 | |
Term Loans 2017 [Member] | Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | $ 12,263 |
Loans and Leases and the Allo_6
Loans and Leases and the Allowance for Credit Losses - Summary of loans in Accrual and Nonaccrual Status (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | $ 88,104,572 | $ 89,043,040 |
30-89 Days Past Due | 792,838 | 845,930 |
Accruing Loans Past Due 90 Days or More | 776,751 | 963,399 |
Nonaccrual | 2,134,231 | 2,060,083 |
Loans and leases, net of unearned discount | 91,808,392 | 92,912,452 |
Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 13,126,694 | 13,294,872 |
30-89 Days Past Due | 249,731 | 239,561 |
Accruing Loans Past Due 90 Days or More | 687,397 | 920,080 |
Nonaccrual | 341,671 | 355,858 |
Loans and leases, net of unearned discount | 14,405,493 | 14,810,371 |
Residential Limited Documentation [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,050,328 | 1,124,520 |
30-89 Days Past Due | 16,546 | 16,666 |
Nonaccrual | 123,512 | 122,888 |
Loans and leases, net of unearned discount | 1,190,386 | 1,264,074 |
Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 3,407,958 | 3,476,617 |
30-89 Days Past Due | 16,939 | 15,486 |
Nonaccrual | 71,489 | 70,488 |
Loans and leases, net of unearned discount | 3,496,386 | 3,562,591 |
Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 8,156,368 | 7,985,173 |
30-89 Days Past Due | 33,093 | 40,544 |
Nonaccrual | 31,546 | 27,811 |
Loans and leases, net of unearned discount | 8,221,007 | 8,053,528 |
Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 4,688,513 | 4,604,772 |
30-89 Days Past Due | 31,707 | 40,064 |
Nonaccrual | 35,350 | 34,037 |
Loans and leases, net of unearned discount | 4,755,570 | 4,678,873 |
Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,631,907 | 1,620,147 |
30-89 Days Past Due | 10,305 | 12,223 |
Accruing Loans Past Due 90 Days or More | 3,703 | 3,302 |
Nonaccrual | 44,060 | 44,289 |
Loans and leases, net of unearned discount | 1,689,975 | 1,679,961 |
Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 16,769,547 | 16,234,904 |
Revolving Loans [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 2,558 | |
Nonaccrual | 516 | 263 |
Loans and leases, net of unearned discount | 41,502 | 72,572 |
Revolving Loans [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 574 | 346 |
Nonaccrual | 4,772 | 4,951 |
Loans and leases, net of unearned discount | 2,254,454 | 2,353,576 |
Revolving Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 1,908 | |
Nonaccrual | 40,552 | 40,807 |
Loans and leases, net of unearned discount | 1,198,617 | 1,190,811 |
Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,239,662 | 1,199,887 |
Revolving Loans Converted to Term Loans [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 15,430 | 14,421 |
Nonaccrual | 61,257 | 59,787 |
Loans and leases, net of unearned discount | 1,194,179 | 1,156,983 |
Revolving Loans Converted to Term Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 373 | 434 |
Nonaccrual | 104 | 129 |
Loans and leases, net of unearned discount | 1,921 | 2,068 |
Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 13,126,694 | 13,294,872 |
Current [Member] | Residential Limited Documentation [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,050,328 | 1,124,520 |
Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 3,407,958 | 3,476,617 |
Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 8,156,368 | 7,985,173 |
Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 4,688,513 | 4,604,772 |
Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,631,907 | 1,620,147 |
Current [Member] | Revolving Loans [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 38,428 | 72,309 |
Current [Member] | Revolving Loans [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 2,249,108 | 2,348,279 |
Current [Member] | Revolving Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,158,065 | 1,148,096 |
Current [Member] | Revolving Loans Converted to Term Loans [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,117,492 | 1,082,775 |
Current [Member] | Revolving Loans Converted to Term Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,444 | 1,505 |
Term Loans 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,600,284 | |
Term Loans 2022 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 3,136 | |
Loans and leases, net of unearned discount | 1,169,228 | |
Term Loans 2022 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 70 | |
Term Loans 2022 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 88 | |
Loans and leases, net of unearned discount | 703,933 | |
Term Loans 2022 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 288 | |
Loans and leases, net of unearned discount | 567,885 | |
Term Loans 2022 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 2,187 | |
Nonaccrual | 1,538 | |
Loans and leases, net of unearned discount | 60,236 | |
Term Loans 2022 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,166,092 | |
Term Loans 2022 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 70 | |
Term Loans 2022 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 703,845 | |
Term Loans 2022 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 567,597 | |
Term Loans 2022 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 56,511 | |
Term Loans 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 17,170,499 | 18,817,411 |
Term Loans 2021 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 19,193 | 15,245 |
Accruing Loans Past Due 90 Days or More | 28,249 | 10,924 |
Nonaccrual | 5,764 | 3,359 |
Loans and leases, net of unearned discount | 2,876,128 | 3,086,646 |
Term Loans 2021 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Nonaccrual | 15 | |
Loans and leases, net of unearned discount | 397 | 304 |
Term Loans 2021 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 5,701 | 5,929 |
Nonaccrual | 2,664 | 1,341 |
Loans and leases, net of unearned discount | 2,728,040 | 2,897,381 |
Term Loans 2021 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 7,968 | 8,508 |
Nonaccrual | 3,756 | 1,588 |
Loans and leases, net of unearned discount | 2,064,282 | 2,230,157 |
Term Loans 2021 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 907 | 2,937 |
Nonaccrual | 883 | 2,051 |
Loans and leases, net of unearned discount | 224,736 | 249,334 |
Term Loans 2021 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 2,822,922 | 3,057,118 |
Term Loans 2021 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 382 | 304 |
Term Loans 2021 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 2,719,675 | 2,890,111 |
Term Loans 2021 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 2,052,558 | 2,220,061 |
Term Loans 2021 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 222,946 | 244,346 |
Term Loans Prior Period [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 21,736,287 | 18,542,940 |
Term Loans Prior Period [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 201,254 | 162,666 |
Accruing Loans Past Due 90 Days or More | 545,010 | 542,749 |
Nonaccrual | 307,228 | 314,792 |
Loans and leases, net of unearned discount | 7,098,305 | 6,933,668 |
Term Loans Prior Period [Member] | Residential Limited Documentation [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 16,546 | 16,666 |
Nonaccrual | 123,512 | 122,888 |
Loans and leases, net of unearned discount | 1,190,386 | 1,264,074 |
Term Loans Prior Period [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 935 | 698 |
Nonaccrual | 5,445 | 5,750 |
Loans and leases, net of unearned discount | 42,396 | 44,463 |
Term Loans Prior Period [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 8,651 | 7,123 |
Nonaccrual | 11,688 | 7,996 |
Loans and leases, net of unearned discount | 1,036,425 | 661,159 |
Term Loans Prior Period [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 6,501 | 3,129 |
Nonaccrual | 10,320 | 5,463 |
Loans and leases, net of unearned discount | 239,065 | 80,190 |
Term Loans Prior Period [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 5,814 | 5,712 |
Accruing Loans Past Due 90 Days or More | 3,703 | 3,302 |
Nonaccrual | 266 | 353 |
Loans and leases, net of unearned discount | 36,708 | 23,688 |
Term Loans Prior Period [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 6,044,813 | 5,913,461 |
Term Loans Prior Period [Member] | Current [Member] | Residential Limited Documentation [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,050,328 | 1,124,520 |
Term Loans Prior Period [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 36,016 | 38,015 |
Term Loans Prior Period [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,016,086 | 646,040 |
Term Loans Prior Period [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 222,244 | 71,598 |
Term Loans Prior Period [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 26,925 | 14,321 |
Term Loans 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11,573,793 | 12,376,366 |
Term Loans 2020 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 10,756 | 12,535 |
Accruing Loans Past Due 90 Days or More | 60,476 | 100,581 |
Nonaccrual | 14,866 | 19,858 |
Loans and leases, net of unearned discount | 1,743,887 | 1,805,064 |
Term Loans 2020 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 762 | 777 |
Term Loans 2020 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 7,647 | 8,912 |
Nonaccrual | 6,270 | 4,646 |
Loans and leases, net of unearned discount | 1,952,572 | 2,101,900 |
Term Loans 2020 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 5,104 | 6,615 |
Nonaccrual | 5,904 | 4,390 |
Loans and leases, net of unearned discount | 992,272 | 1,108,689 |
Term Loans 2020 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 369 | 404 |
Nonaccrual | 203 | 326 |
Loans and leases, net of unearned discount | 86,034 | 97,675 |
Term Loans 2020 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,657,789 | 1,672,090 |
Term Loans 2020 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 762 | 777 |
Term Loans 2020 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,938,655 | 2,088,342 |
Term Loans 2020 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 981,264 | 1,097,684 |
Term Loans 2020 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 85,462 | 96,945 |
Term Loans 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11,481,256 | 12,286,933 |
Term Loans 2019 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 5,952 | 9,886 |
Accruing Loans Past Due 90 Days or More | 25,426 | 28,512 |
Nonaccrual | 9,950 | 7,119 |
Loans and leases, net of unearned discount | 1,034,082 | 1,121,413 |
Term Loans 2019 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,648 | 2,793 |
Term Loans 2019 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 6,930 | 8,317 |
Nonaccrual | 5,907 | 4,871 |
Loans and leases, net of unearned discount | 1,188,261 | 1,281,117 |
Term Loans 2019 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 6,824 | 8,936 |
Nonaccrual | 8,199 | 7,847 |
Loans and leases, net of unearned discount | 590,528 | 678,783 |
Term Loans 2019 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 489 | 472 |
Nonaccrual | 370 | 326 |
Loans and leases, net of unearned discount | 62,338 | 74,384 |
Term Loans 2019 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 992,754 | 1,075,896 |
Term Loans 2019 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 2,648 | 2,793 |
Term Loans 2019 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,175,424 | 1,267,929 |
Term Loans 2019 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 575,505 | 662,000 |
Term Loans 2019 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 61,479 | 73,586 |
Term Loans 2018 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 7,237,064 | 7,895,140 |
Term Loans 2018 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 6,882 | 6,132 |
Accruing Loans Past Due 90 Days or More | 28,236 | 31,996 |
Nonaccrual | 3,347 | 4,577 |
Loans and leases, net of unearned discount | 442,361 | 508,745 |
Term Loans 2018 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 21 | |
Loans and leases, net of unearned discount | 1,480 | 1,751 |
Term Loans 2018 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 4,076 | 5,074 |
Nonaccrual | 5,017 | 4,918 |
Loans and leases, net of unearned discount | 611,776 | 656,875 |
Term Loans 2018 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 5,022 | 7,161 |
Nonaccrual | 7,171 | 7,867 |
Loans and leases, net of unearned discount | 301,538 | 356,683 |
Term Loans 2018 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 166 | 255 |
Nonaccrual | 144 | 193 |
Loans and leases, net of unearned discount | 19,385 | 24,872 |
Term Loans 2018 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 403,896 | 466,040 |
Term Loans 2018 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,480 | 1,730 |
Term Loans 2018 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 602,683 | 646,883 |
Term Loans 2018 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 289,345 | 341,655 |
Term Loans 2018 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | $ 19,075 | 24,424 |
Term Loans 2017 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5,558,871 | |
Term Loans 2017 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 33,097 | |
Accruing Loans Past Due 90 Days or More | 205,318 | |
Nonaccrual | 5,890 | |
Loans and leases, net of unearned discount | 1,282,263 | |
Term Loans 2017 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,944 | |
Term Loans 2017 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 5,189 | |
Nonaccrual | 4,039 | |
Loans and leases, net of unearned discount | 455,096 | |
Term Loans 2017 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 5,715 | |
Nonaccrual | 6,882 | |
Loans and leases, net of unearned discount | 224,371 | |
Term Loans 2017 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 101 | |
Nonaccrual | 104 | |
Loans and leases, net of unearned discount | 17,129 | |
Term Loans 2017 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,037,958 | |
Term Loans 2017 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 1,944 | |
Term Loans 2017 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 445,868 | |
Term Loans 2017 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | 211,774 | |
Term Loans 2017 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total Loans | $ 16,924 |
Loans and Leases and the Allo_7
Loans and Leases and the Allowance for Credit Losses - Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $ 1,469,226 | $ 1,736,387 |
Provision for credit losses | 10,000 | (25,000) |
Net charge-offs | ||
Charge-offs | (51,038) | (122,925) |
Recoveries | 44,171 | 47,744 |
Net (charge-offs) recoveries | 6,867 | (75,181) |
Ending balance | 1,472,359 | 1,636,206 |
Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 283,899 | 405,846 |
Provision for credit losses | 28,725 | (72,418) |
Net charge-offs | ||
Charge-offs | (19,234) | (26,945) |
Recoveries | 13,665 | 22,511 |
Net (charge-offs) recoveries | 5,569 | (4,434) |
Ending balance | 307,055 | 328,994 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 557,239 | 670,719 |
Provision for credit losses | (30,938) | 99,471 |
Net charge-offs | ||
Charge-offs | (1,800) | (60,652) |
Recoveries | 14,943 | 6,560 |
Net (charge-offs) recoveries | (13,143) | (54,092) |
Ending balance | 539,444 | 716,098 |
One-to-Four Family Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 71,726 | 103,590 |
Provision for credit losses | 1,720 | (13,435) |
Net charge-offs | ||
Charge-offs | (3,972) | (2,399) |
Recoveries | 3,107 | 2,033 |
Net (charge-offs) recoveries | 865 | (366) |
Ending balance | 72,581 | 89,789 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 556,362 | 556,232 |
Provision for credit losses | 10,493 | (38,618) |
Net charge-offs | ||
Charge-offs | (26,032) | (32,929) |
Recoveries | 12,456 | 16,640 |
Net (charge-offs) recoveries | 13,576 | (16,289) |
Ending balance | $ 553,279 | $ 501,325 |
Loans and Leases and the Allo_8
Loans and Leases and the Allowance for Credit Losses - Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Jan. 01, 2022 | Jan. 01, 2021 | |
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | $ 827,842 | $ 945,395 | ||
Amortized Cost without Allowance | 1,306,389 | 1,011,711 | ||
Total | 2,134,231 | 1,957,106 | ||
Amortized Cost | $ 2,060,083 | $ 1,893,299 | ||
Interest Income Recognized | 29,616 | 10,730 | ||
Commercial, Financial, Leasing, etc. [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 171,322 | 211,894 | ||
Amortized Cost without Allowance | 103,824 | 83,175 | ||
Total | 275,146 | 295,069 | ||
Amortized Cost | 221,022 | 306,827 | ||
Interest Income Recognized | 13,594 | 3,085 | ||
Commercial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 222,771 | 337,036 | ||
Amortized Cost without Allowance | 934,915 | 487,043 | ||
Total | 1,157,686 | 824,079 | ||
Amortized Cost | 1,069,280 | 775,894 | ||
Interest Income Recognized | 6,131 | 1,658 | ||
Residential Builder and Developer [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 524 | 1,224 | ||
Amortized Cost without Allowance | 2,392 | |||
Total | 2,916 | 1,224 | ||
Amortized Cost | 3,005 | 1,094 | ||
Interest Income Recognized | 1,428 | 33 | ||
Other Commercial Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 29,914 | 24,186 | ||
Amortized Cost without Allowance | 20,941 | 102,039 | ||
Total | 50,855 | 126,225 | ||
Amortized Cost | 111,405 | 114,039 | ||
Interest Income Recognized | 626 | 41 | ||
Residential [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 191,495 | 186,374 | ||
Amortized Cost without Allowance | 150,176 | 199,134 | ||
Total | 341,671 | 385,508 | ||
Amortized Cost | 355,858 | 365,729 | ||
Interest Income Recognized | 6,541 | 4,498 | ||
Residential Limited Documentation [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 80,590 | 84,342 | ||
Amortized Cost without Allowance | 42,922 | 58,727 | ||
Total | 123,512 | 143,069 | ||
Amortized Cost | 122,888 | 147,170 | ||
Interest Income Recognized | 196 | 79 | ||
Home Equity Lines and Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 32,783 | 44,548 | ||
Amortized Cost without Allowance | 38,706 | 34,640 | ||
Total | 71,489 | 79,188 | ||
Amortized Cost | 70,488 | 79,392 | ||
Interest Income Recognized | 809 | 952 | ||
Recreational Finance [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 24,350 | 19,657 | ||
Amortized Cost without Allowance | 7,196 | 7,561 | ||
Total | 31,546 | 27,218 | ||
Amortized Cost | 27,811 | 25,519 | ||
Interest Income Recognized | 161 | 155 | ||
Automobile [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 30,129 | 33,270 | ||
Amortized Cost without Allowance | 5,221 | 4,949 | ||
Total | 35,350 | 38,219 | ||
Amortized Cost | 34,037 | 39,404 | ||
Interest Income Recognized | 38 | 49 | ||
Other [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 43,964 | 2,864 | ||
Amortized Cost without Allowance | 96 | 34,443 | ||
Total | 44,060 | 37,307 | ||
Amortized Cost | $ 44,289 | $ 38,231 | ||
Interest Income Recognized | $ 92 | $ 180 |
Loans and Leases and the Allo_9
Loans and Leases and the Allowance for Credit Losses - Loan Modification Activities that were Considered Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022USD ($)Modification | Mar. 31, 2021USD ($)Modification | |
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 935 | 855 |
Pre-modification Recorded Investment | $ 61,456 | $ 131,632 |
Loans and leases, net of unearned discount | 62,294 | 129,961 |
Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 46,178 | 85,516 |
Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 2,155 | 2,214 |
Combination of Concession Types [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 13,961 | $ 42,231 |
Commercial, Financial, Leasing, etc. [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 37 | 93 |
Pre-modification Recorded Investment | $ 10,003 | $ 53,733 |
Loans and leases, net of unearned discount | 9,754 | 53,157 |
Commercial, Financial, Leasing, etc. [Member] | Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 6,920 | 24,653 |
Commercial, Financial, Leasing, etc. [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 54 | |
Commercial, Financial, Leasing, etc. [Member] | Combination of Concession Types [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 2,780 | $ 28,504 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 17 | 33 |
Pre-modification Recorded Investment | $ 7,582 | $ 26,870 |
Loans and leases, net of unearned discount | 7,332 | 25,796 |
Commercial Real Estate [Member] | Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 4,376 | 11,160 |
Commercial Real Estate [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 2,101 | 2,214 |
Commercial Real Estate [Member] | Combination of Concession Types [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 855 | $ 12,422 |
Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 97 | 123 |
Pre-modification Recorded Investment | $ 24,051 | $ 39,583 |
Loans and leases, net of unearned discount | 25,404 | 39,674 |
Residential [Member] | Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 15,443 | 38,557 |
Residential [Member] | Combination of Concession Types [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 9,961 | $ 1,117 |
Home Equity Lines and Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 35 | 26 |
Pre-modification Recorded Investment | $ 2,150 | $ 1,715 |
Loans and leases, net of unearned discount | 2,160 | 1,660 |
Home Equity Lines and Loans [Member] | Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 1,988 | 1,486 |
Home Equity Lines and Loans [Member] | Combination of Concession Types [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 172 | $ 174 |
Recreational Finance [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 177 | 72 |
Pre-modification Recorded Investment | $ 5,997 | $ 2,212 |
Loans and leases, net of unearned discount | 5,990 | 2,212 |
Recreational Finance [Member] | Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 5,990 | $ 2,212 |
Automobile [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 534 | 276 |
Pre-modification Recorded Investment | $ 10,263 | $ 4,969 |
Loans and leases, net of unearned discount | 10,233 | 4,969 |
Automobile [Member] | Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 10,233 | 4,955 |
Automobile [Member] | Combination of Concession Types [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 14 | |
Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 33 | 222 |
Pre-modification Recorded Investment | $ 334 | $ 1,434 |
Loans and leases, net of unearned discount | 334 | 1,434 |
Other [Member] | Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 334 | $ 1,434 |
Residential Limited Documentation [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | Modification | 5 | 10 |
Pre-modification Recorded Investment | $ 1,076 | $ 1,116 |
Loans and leases, net of unearned discount | 1,087 | 1,059 |
Residential Limited Documentation [Member] | Principal Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | 894 | $ 1,059 |
Residential Limited Documentation [Member] | Combination of Concession Types [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and leases, net of unearned discount | $ 193 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) $ in Millions | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Debt Instruments [Abstract] | |
Junior subordinated debentures | $ 533 |
Debt Maturity, Start Year | Jan. 1, 2027 |
Debt Maturity, End Year | Dec. 31, 2033 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Additional Information (Detail1) | Mar. 31, 2022 |
Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01 | |
Disaggregation Of Revenue [Line Items] | |
Period of satisfaction of contract with customer | 1 year |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Disaggregation Of Revenue [Line Items] | ||
Uncollected amounts receivable | $ 67 | $ 68 |
Accrued interest and other liabilities [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Deferred revenue | $ 45 | $ 45 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - Summary of Sources of Noninterest Income that are Subject to Revenue Recognition Accounting Guidance (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disaggregation Of Revenue [Line Items] | ||
Brokerage services income | $ 20,190 | $ 13,113 |
Other revenues from operations: | ||
Total other income | 540,887 | 505,598 |
Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 101,507 | 92,777 |
Trust Income [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 169,213 | 156,022 |
ASU 2014-09 [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Brokerage services income | 20,190 | 13,113 |
Other revenues from operations: | ||
Merchant discount and credit card fees | 31,755 | 24,363 |
Other | 24,779 | 22,910 |
Total other income | 347,444 | 309,185 |
ASU 2014-09 [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 101,507 | 92,777 |
ASU 2014-09 [Member] | Trust Income [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 169,213 | 156,022 |
ASU 2014-09 [Member] | Business Banking [Member] | ||
Other revenues from operations: | ||
Merchant discount and credit card fees | 12,805 | 9,481 |
Total other income | 27,486 | 21,978 |
ASU 2014-09 [Member] | Business Banking [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 14,681 | 12,497 |
ASU 2014-09 [Member] | Commercial Banking [Member] | ||
Other revenues from operations: | ||
Merchant discount and credit card fees | 13,459 | 10,407 |
Other | 1,903 | 958 |
Total other income | 40,933 | 35,660 |
ASU 2014-09 [Member] | Commercial Banking [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 25,571 | 24,295 |
ASU 2014-09 [Member] | Commercial Real Estate [Member] | ||
Other revenues from operations: | ||
Merchant discount and credit card fees | 874 | 445 |
Other | 2,464 | 1,091 |
Total other income | 6,816 | 4,429 |
ASU 2014-09 [Member] | Commercial Real Estate [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 3,478 | 2,893 |
ASU 2014-09 [Member] | Discretionary Portfolio [Member] | ||
Other revenues from operations: | ||
Other | 693 | 384 |
Total other income | 693 | 384 |
ASU 2014-09 [Member] | Residential Mortgage Banking [Member] | ||
Other revenues from operations: | ||
Other | 1,729 | 1,722 |
Total other income | 1,729 | 1,722 |
ASU 2014-09 [Member] | Retail Banking [Member] | ||
Other revenues from operations: | ||
Merchant discount and credit card fees | 4,510 | 3,921 |
Other | 5,099 | 5,807 |
Total other income | 65,956 | 61,180 |
ASU 2014-09 [Member] | Retail Banking [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 56,347 | 51,452 |
ASU 2014-09 [Member] | All Other [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Brokerage services income | 20,190 | 13,113 |
Other revenues from operations: | ||
Merchant discount and credit card fees | 107 | 109 |
Other | 12,891 | 12,948 |
Total other income | 203,831 | 183,832 |
ASU 2014-09 [Member] | All Other [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 1,430 | 1,640 |
ASU 2014-09 [Member] | All Other [Member] | Trust Income [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | $ 169,213 | $ 156,022 |
Pension Plans and Other Postr_3
Pension Plans and Other Postretirement Benefits - Net Periodic Defined Benefit Cost for Defined Benefit Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Pension Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 4,271 | $ 5,023 |
Interest cost on projected benefit obligation | 16,267 | 15,434 |
Expected return on plan assets | (37,150) | (35,950) |
Amortization of prior service cost (credit) | 125 | 125 |
Amortization of net actuarial loss (gain) | 4,625 | 22,150 |
Net periodic cost (benefit) | (11,862) | 6,782 |
Other Postretirement Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 232 | 248 |
Interest cost on projected benefit obligation | 355 | 327 |
Amortization of prior service cost (credit) | (1,075) | (1,175) |
Amortization of net actuarial loss (gain) | (325) | (300) |
Net periodic cost (benefit) | $ (813) | $ (900) |
Pension Plans and Other Postr_4
Pension Plans and Other Postretirement Benefits - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Compensation And Retirement Disclosure [Abstract] | ||
Defined contribution pension and retirement savings plans total expense | $ 31 | $ 33 |
Defined benefit pension plan, amortization period | 16 years | |
Defined benefit pension plan, reduction to change in amortization | $ 9 |
Earnings Per Common Share - Com
Earnings Per Common Share - Computations of Basic Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income available to common shareholders: | ||
Net income | $ 362,174 | $ 447,249 |
Less: Preferred stock dividends | (21,765) | (17,050) |
Net income available to common equity | 340,409 | 430,199 |
Less: Income attributable to unvested stock-based compensation awards | (820) | (2,108) |
Net income available to common shareholders | $ 339,589 | $ 428,091 |
Weighted-average shares outstanding: | ||
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 129,274 | 129,414 |
Less: Unvested stock-based compensation awards | (329) | (877) |
Weighted-average shares outstanding | 128,945 | 128,537 |
Basic earnings per common share | $ 2.63 | $ 3.33 |
Earnings Per Common Share - C_2
Earnings Per Common Share - Computations of Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Earnings Per Share [Abstract] | ||
Net income available to common equity | $ 340,409 | $ 430,199 |
Less: Income attributable to unvested stock-based compensation awards | (819) | (2,106) |
Net income available to common shareholders | $ 339,590 | $ 428,093 |
Adjusted weighted-average shares outstanding: | ||
Common and unvested stock-based compensation awards | 129,274 | 129,414 |
Less: Unvested stock-based compensation awards | (329) | (877) |
Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock | 471 | 132 |
Adjusted weighted-average shares outstanding | 129,416 | 128,669 |
Diluted earnings per common share | $ 2.62 | $ 3.33 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share | 114,226 | 462,342 |
Comprehensive Income - Componen
Comprehensive Income - Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | $ (172,054) | $ (85,143) |
Unrealized holding losses, net, before tax | (184,955) | (32,025) |
Foreign currency translation adjustment, before tax | (2,123) | 684 |
Unrealized losses on cash flow hedges | (115,724) | (9,498) |
Total other comprehensive income (loss) before reclassifications, before tax | (302,802) | (40,839) |
Amortization of unrealized holding losses on held-to-maturity securities | 1,119 | 990 |
Gains realized in net income | (3) | |
Accretion of net gain on terminated cash flow hedges, before tax | (30) | (30) |
Net yield adjustment from cash flow hedges currently in effect, before tax | (38,019) | (82,044) |
Amortization of prior service credit, before tax | (950) | (1,050) |
Amortization of actuarial losses, before tax | 4,300 | 21,850 |
Total other comprehensive income (loss), before tax | (336,382) | (101,126) |
Ending balance, before tax | (508,436) | (186,269) |
Beginning balance, tax | 44,476 | 22,111 |
Unrealized holding losses, net, tax | 47,758 | 8,907 |
Foreign currency translation adjustment, tax | 475 | (136) |
Unrealized losses on cash flow hedges | 29,885 | 2,571 |
Total other comprehensive income (loss) before reclassifications, tax | 78,118 | 11,342 |
Amortization of unrealized holding losses on held-to-maturity securities, tax | (289) | (276) |
Gains realized in net income, tax | 1 | |
Accretion of net gain on terminated cash flow hedges, tax | 9 | 9 |
Net yield adjustment from cash flow hedges currently in effect, tax | 9,818 | 22,215 |
Amortization of prior service credit, tax | 305 | 384 |
Amortization of actuarial losses, tax | (1,386) | (7,995) |
Total other comprehensive income (loss), tax | 86,575 | 25,680 |
Ending balance, tax | 131,051 | 47,791 |
Beginning balance, net of tax | (127,578) | (63,032) |
Unrealized holding losses, net of tax | (137,197) | (23,118) |
Foreign currency translation adjustments | (1,648) | 548 |
Unrealized losses on cash flow hedges, net of tax | (85,839) | (6,927) |
Total other comprehensive income (loss) before reclassifications, net of tax | (224,684) | (29,497) |
Amortization of unrealized holding losses on held-to-maturity securities | 830 | 714 |
Gains realized in net income, net of tax | (2) | |
Accretion of net gain on terminated cash flow hedges, net of tax | (21) | (21) |
Net yield adjustment from cash flow hedges currently in effect, net of tax | (28,201) | (59,829) |
Amortization of prior service credit, net of tax | (645) | (666) |
Amortization of actuarial losses, net of tax | 2,914 | 13,855 |
Total other comprehensive income (loss) | (249,807) | (75,446) |
Ending balance, net of tax | (377,385) | (138,478) |
Investment Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | 104,691 | 195,386 |
Unrealized holding losses, net, before tax | (184,955) | (32,025) |
Total other comprehensive income (loss) before reclassifications, before tax | (184,955) | (32,025) |
Amortization of unrealized holding losses on held-to-maturity securities | 1,119 | 990 |
Gains realized in net income | (3) | |
Total other comprehensive income (loss), before tax | (183,836) | (31,038) |
Ending balance, before tax | (79,145) | 164,348 |
Total other comprehensive income (loss) | (136,367) | |
Defined Benefit Plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | (360,276) | (650,087) |
Amortization of prior service credit, before tax | (950) | (1,050) |
Amortization of actuarial losses, before tax | 4,300 | 21,850 |
Total other comprehensive income (loss), before tax | 3,350 | 20,800 |
Ending balance, before tax | (356,926) | (629,287) |
Total other comprehensive income (loss) | 2,269 | |
Other [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | 83,531 | 369,558 |
Foreign currency translation adjustment, before tax | (2,123) | 684 |
Unrealized losses on cash flow hedges | (115,724) | (9,498) |
Total other comprehensive income (loss) before reclassifications, before tax | (117,847) | (8,814) |
Accretion of net gain on terminated cash flow hedges, before tax | (30) | (30) |
Net yield adjustment from cash flow hedges currently in effect, before tax | (38,019) | (82,044) |
Total other comprehensive income (loss), before tax | (155,896) | (90,888) |
Ending balance, before tax | $ (72,365) | $ 278,670 |
Comprehensive Income - Accumula
Comprehensive Income - Accumulated Other Comprehensive Income (Loss), Net (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | $ 17,903,405 | $ 16,187,283 |
Net gain (loss) during period | (249,807) | (75,446) |
Ending balance | 17,876,020 | 16,446,508 |
Investment Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | 77,625 | |
Net gain (loss) during period | (136,367) | |
Ending balance | (58,742) | |
Defined Benefit Plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (267,145) | |
Net gain (loss) during period | 2,269 | |
Ending balance | (264,876) | |
Accumulated Other Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | 61,942 | |
Net gain (loss) during period | (115,709) | |
Ending balance | (53,767) | |
Accumulated Other Comprehensive Income (Loss), Net [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (127,578) | (63,032) |
Net gain (loss) during period | (249,807) | |
Ending balance | $ (377,385) | $ (138,478) |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Derivative [Line Items] | |||
Notional amounts of derivative contracts entered into for trading account purposes | $ 20,650,000,000 | $ 23,350,000,000 | |
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | 66,000,000 | ||
Net unrealized pre-tax gains related to hedged loans held for sale, commitments to originate loans for sale and commitments to sell loans | 13,000,000 | 24,000,000 | |
Aggregate fair value of derivative financial instruments in a liability position | 1,000,000 | 35,000,000 | |
Aggregate fair value of derivative financial instruments in asset position | 83,000,000 | 7,000,000 | |
Net fair value of derivative financial instruments in a net asset position | 83,000,000 | 7,000,000 | |
Collateral relating to net asset positions | 84,000,000 | 6,000,000 | |
Counterparties [Member] | |||
Derivative [Line Items] | |||
Post collateral requirements relating to positions | 1,000,000 | 33,000,000 | |
Clearinghouse Credit Facilities [Member] | |||
Derivative [Line Items] | |||
Amount of initial margin posted | 133,000,000 | 132,000,000 | |
Interest Income [Member] | |||
Derivative [Line Items] | |||
Cash flow hedges derivative instruments income | 38,000,000 | $ 82,000,000 | |
Interest Rate Swap Agreements [Member] | |||
Derivative [Line Items] | |||
Increase decrease in net interest income due to interest rate swap agreements | 47,000,000 | $ 91,000,000 | |
Interest Rate Swap Agreements [Member] | Maturity Period 2022 [Member] | |||
Derivative [Line Items] | |||
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | 5,000,000 | ||
Interest Rate Swap Agreements [Member] | Maturity Period 2023 [Member] | |||
Derivative [Line Items] | |||
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | 35,000,000 | ||
Interest Rate Swap Agreements [Member] | Maturity Period 2025 [Member] | |||
Derivative [Line Items] | |||
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | 36,000,000 | ||
Interest Rate Contracts [Member] | |||
Derivative [Line Items] | |||
Notional amounts of derivative contracts entered into for trading account purposes | 31,800,000,000 | 32,600,000,000 | |
Foreign Currency and Other Option and Futures Contracts [Member] | |||
Derivative [Line Items] | |||
Notional amounts of derivative contracts entered into for trading account purposes | $ 1,300,000,000 | $ 1,100,000,000 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Derivative [Line Items] | ||
Notional Amount | $ 20,650,000,000 | $ 23,350,000,000 |
Average Maturity (in years) | 1 year | 8 months 12 days |
Estimated Fair Value Gain (Loss) | $ 3,841,000 | $ (207,000) |
Interest Payments On Variable Rate Commercial Real Estate Loans [Member] | Cash Flow Hedges [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 19,000,000,000 | $ 21,700,000,000 |
Average Maturity (in years) | 10 months 24 days | 7 months 6 days |
Weighted-Average Rate, Fixed | 1.31% | 1.24% |
Weighted-Average Rate, Variable | 0.35% | 0.09% |
Estimated Fair Value Gain (Loss) | $ 2,819,000 | $ (248,000) |
Fixed Rate Long-Term Borrowings [Member] | Fair Value Hedges [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 1,650,000,000 | $ 1,650,000,000 |
Average Maturity (in years) | 2 years 1 month 6 days | 2 years 3 months 18 days |
Weighted-Average Rate, Fixed | 2.86% | 2.86% |
Weighted-Average Rate, Variable | 1.09% | 0.74% |
Estimated Fair Value Gain (Loss) | $ 1,022,000 | $ 41,000 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Parenthetical) (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Derivative [Line Items] | ||
Notional Amount | $ 20,650,000,000 | $ 23,350,000,000 |
Forward-Starting Interest Rate Swap Agreements [Member] | ||
Derivative [Line Items] | ||
Notional Amount | 5,700,000,000 | 8,400,000,000 |
Fair Value Hedges [Member] | ||
Derivative [Line Items] | ||
Impact of estimated fair value gain (losses) on hedging instruments | (782,000) | 43,500,000 |
Cash Flow Hedges [Member] | ||
Derivative [Line Items] | ||
Impact of estimated fair value gain (losses) on hedging instruments | $ (68,700,000) | $ 88,200,000 |
Derivative Financial Instrume_6
Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | $ 193,002 | $ 442,453 |
Liability Derivatives, Fair Value | 320,583 | 93,843 |
Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 178,702 | 438,151 |
Liability Derivatives, Fair Value | 320,052 | 92,830 |
Fair Value Hedges [Member] | Derivatives Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 14,300 | 4,302 |
Liability Derivatives, Fair Value | 531 | 1,013 |
Interest Rate Swap Agreements [Member] | Fair Value Hedges [Member] | Derivatives Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 4,298 | 258 |
Liability Derivatives, Fair Value | 457 | 465 |
Commitments to Sell Real Estate Loans [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 26,680 | 8,137 |
Liability Derivatives, Fair Value | 799 | 4,108 |
Commitments to Sell Real Estate Loans [Member] | Fair Value Hedges [Member] | Derivatives Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 10,002 | 4,044 |
Liability Derivatives, Fair Value | 74 | 548 |
Mortgage-Related Commitments to Originate Real Estate Loans for Sale [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 1,319 | 11,728 |
Liability Derivatives, Fair Value | 16,747 | 5,288 |
Interest Rate Contracts [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 141,066 | 410,056 |
Liability Derivatives, Fair Value | 292,873 | 76,278 |
Foreign Exchange and Other Option and Futures Contracts [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 9,637 | 8,230 |
Liability Derivatives, Fair Value | $ 9,633 | $ 7,156 |
Derivative Financial Instrume_7
Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Offsetting [Abstract] | ||
Reduction in estimated fair value of interest rate contracts in asset position | $ (277.6) | $ (54.4) |
Reduction in estimated fair value of interest rate contracts in liability position | $ (45.9) | $ (305.1) |
Derivative Financial Instrume_8
Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Statement of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as hedging instruments, Derivatives | $ 1,852 | $ (1,626) |
Interest Rate Swap Agreements [Member] | Fixed Rate Long-Term Borrowings [Member] | Derivatives Designated and Qualifying as Hedging Instruments [Member] | Fair Value Hedges [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives in fair value hedging relationships, Derivative | (43,273) | (32,658) |
Derivatives in fair value hedging relationships, Hedged item | 42,998 | 31,898 |
Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as hedging instruments, Derivatives | 106 | (3,234) |
Foreign Exchange and Other Option and Futures Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as hedging instruments, Derivatives | $ 1,746 | $ 1,608 |
Derivative Financial Instrume_9
Derivative Financial Instruments - Information about Hedged Items Included in Consolidated Balance Sheet (Detail) - Long-term Debt [Member] - Derivatives Designated and Qualifying as Hedging Instruments [Member] - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Carrying Amount [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Hedged Item | $ 1,650,130 | $ 1,692,943 |
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Hedged Item | $ 612 | $ 43,610 |
Variable Interest Entities an_2
Variable Interest Entities and Asset Securitizations - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Loss on securitization of assets | $ 0 | ||
Other assets for its "investment" in the common securities recognized by the company of various trusts | 23,000,000 | $ 23,000,000 | |
Total assets of partnerships in which the company invested | 149,863,552,000 | 155,107,160,000 | |
Investment in partnership carrying amount | 906,000,000 | 933,000,000 | |
Unfunded commitments includes carrrying amount of its investments | 343,000,000 | 361,000,000 | |
Maximum exposure to loss of investments in real estate partnerships | 1,200,000,000 | ||
Investments amortized to income tax expense | 20,000,000 | $ 19,000,000 | |
Federal tax credits and other federal tax benefits recognized | 23,000,000 | $ 21,000,000 | |
Variable Interest Entity Primary Beneficiary [Member] | |||
Total assets of partnerships in which the company invested | $ 3,200,000,000 | $ 3,000,000,000 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | $ 5,705,199 | $ 3,955,804 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading account assets | 46,655 | 49,545 |
Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading account assets | 150,903 | 418,486 |
Trading account liabilities | 302,506 | 83,434 |
U.S. Treasury and Federal Agencies [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | 2,789,717 | 678,690 |
Government Issued or Guaranteed [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | 2,795,177 | 3,155,312 |
Other Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | 120,305 | 121,802 |
Fair Value Measurements, Recurring [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading account assets | 197,558 | 468,031 |
Investment securities | 5,705,199 | 3,955,804 |
Equity securities | 81,165 | 77,640 |
Real estate loans held for sale | 454,003 | 899,282 |
Other assets | 42,299 | 24,167 |
Total assets | 6,480,224 | 5,424,924 |
Trading account liabilities | 302,506 | 83,434 |
Other liabilities | 18,077 | 10,409 |
Total liabilities | 320,583 | 93,843 |
Fair Value Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading account assets | 46,655 | 49,545 |
Equity securities | 72,166 | 68,850 |
Total assets | 118,821 | 118,395 |
Fair Value Measurements, Recurring [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading account assets | 150,903 | 418,486 |
Investment securities | 5,705,199 | 3,955,804 |
Equity securities | 8,999 | 8,790 |
Real estate loans held for sale | 454,003 | 899,282 |
Other assets | 40,980 | 12,439 |
Total assets | 6,360,084 | 5,294,801 |
Trading account liabilities | 302,506 | 83,434 |
Other liabilities | 1,330 | 5,121 |
Total liabilities | 303,836 | 88,555 |
Fair Value Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other assets | 1,319 | 11,728 |
Total assets | 1,319 | 11,728 |
Other liabilities | 16,747 | 5,288 |
Total liabilities | 16,747 | 5,288 |
Fair Value Measurements, Recurring [Member] | U.S. Treasury and Federal Agencies [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | 2,789,717 | 678,690 |
Fair Value Measurements, Recurring [Member] | U.S. Treasury and Federal Agencies [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | 2,789,717 | 678,690 |
Fair Value Measurements, Recurring [Member] | Government Issued or Guaranteed [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | 2,795,177 | 3,155,312 |
Fair Value Measurements, Recurring [Member] | Government Issued or Guaranteed [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | 2,795,177 | 3,155,312 |
Fair Value Measurements, Recurring [Member] | Other Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | 120,305 | 121,802 |
Fair Value Measurements, Recurring [Member] | Other Debt Securities [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities | $ 120,305 | $ 121,802 |
Fair Value Measurements - Chang
Fair Value Measurements - Changes in Level 3 Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Detail) - Fair Value Measurements, Recurring [Member] - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Privately Issued Mortgage-Backed Securities [Member] | |||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | $ 16 | ||
Total gains realized/unrealized: | |||
Ending Balance | 16 | ||
Other Assets and Other Liabilities [Member] | |||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | $ 6,440 | 43,234 | |
Total gains realized/unrealized: | |||
Included in earnings | [1] | (18,700) | 6,025 |
Transfers out of Level 3 | [2] | (3,168) | (35,502) |
Ending Balance | (15,428) | 13,757 | |
Changes in unrealized gains included in earnings related to assets still held at end of period | [1] | $ (13,219) | $ 5,300 |
[1] | Reported as mortgage banking revenues in the consolidated statement of income and includes the fair value of commitment issuances and expirations | ||
[2] | Transfers out of Level 3 consist of interest rate locks transferred to closed loans. |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Measurement Input [Extensible List] | us-gaap:MeasurementInputComparabilityAdjustmentMember | ||
Minimum [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Discount rates for fair value estimations | 15.00% | ||
Maximum [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Discount rates for fair value estimations | 90.00% | ||
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Change in fair value of nonrecurring fair value measured loans for charge-offs and impairment reserves | $ 46 | $ 66 | |
Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Capitalized servicing rights | 133 | $ 138 | |
Capitalized servicing rights, valuation allowance | $ 21 | $ 24 | |
Valuation Charge Recognized | 9 | ||
Weighted-average prepayment speeds | 12.42% | 14.64% | |
Discounted rate represented weighted-average option-adjusted basis spread point percentage | 900.00% | 900.00% | |
Capitalized servicing rights, amortization increase (decrease) | $ 3 | ||
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans measured at fair value on nonrecurring basis | 392 | 658 | $ 574 |
Assets taken in foreclosure of defaulted loans measured at fair value on a nonrecurring basis | 9 | ||
Fair Value, Measurements, Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans measured at fair value on nonrecurring basis | 260 | 357 | 340 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans measured at fair value on nonrecurring basis | $ 132 | $ 301 | $ 234 |
Fair Value Measurements - Quant
Fair Value Measurements - Quantitative Information Related to Significant Unobservable Inputs (Detail) - Fair Value Measurements, Recurring [Member] - Discounted Cash Flows - Other Assets and Other Liabilities [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Recurring fair value measurements for certain Level 3 Assets and Liabilities | $ (15,428) | $ 6,440 |
Minimum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Commitment expirations | 0.00% | 0.00% |
Maximum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Commitment expirations | 96.00% | 80.00% |
Weighted Average | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Commitment expirations | 8.00% | 10.00% |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities) (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Financial assets: | ||||
Interest-bearing deposits at banks | $ 36,025,382 | $ 41,872,304 | ||
Investment securities | 9,356,832 | 7,155,860 | ||
Loans and leases: | ||||
Commercial loans and leases | 92,004,751 | 93,136,678 | ||
Allowance for credit losses | (1,472,359) | (1,469,226) | $ (1,636,206) | $ (1,736,387) |
Loans and leases, net | 90,336,033 | 91,443,226 | ||
Financial liabilities: | ||||
Noninterest-bearing deposits | (58,520,366) | (60,131,480) | ||
Savings and interest-checking deposits | (65,273,150) | (68,603,966) | ||
Time deposits | (2,525,197) | (2,807,963) | ||
Long-term borrowings | (3,443,587) | (3,485,369) | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 1,292,609 | 1,205,269 | ||
Trading account assets | 46,655 | 49,545 | ||
Investment securities | 72,166 | 68,850 | ||
Significant Observable Inputs (Level 2) [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 118,851 | 132,308 | ||
Interest-bearing deposits at banks | 36,025,382 | 41,872,304 | ||
Trading account assets | 150,903 | 418,486 | ||
Investment securities | 9,090,244 | 7,066,293 | ||
Loans and leases: | ||||
Loans and leases, net | 4,890,450 | 4,949,028 | ||
Accrued interest receivable | 301,864 | 335,162 | ||
Financial liabilities: | ||||
Noninterest-bearing deposits | (58,520,366) | (60,131,480) | ||
Savings and interest-checking deposits | (65,273,150) | (68,603,966) | ||
Time deposits | (2,526,204) | (2,810,143) | ||
Short-term borrowings | (50,307) | (47,046) | ||
Long-term borrowings | (3,464,637) | (3,562,223) | ||
Accrued interest payable | (23,316) | (40,866) | ||
Trading account liabilities | (302,506) | (83,434) | ||
Other financial instruments: | ||||
Commitments to sell real estate loans | 35,809 | 7,525 | ||
Interest rate swap agreements used for interest rate risk management | 3,841 | (207) | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Financial assets: | ||||
Investment securities | 56,505 | 57,333 | ||
Loans and leases: | ||||
Consumer loans | 18,307,086 | 18,121,363 | ||
Loans and leases, net | 85,570,672 | 87,348,549 | ||
Other financial instruments: | ||||
Commitments to originate real estate loans for sale | (15,428) | 6,440 | ||
Other credit-related commitments | (118,390) | (123,032) | ||
Commercial Loans And Leases [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 23,231,047 | 23,285,224 | ||
Commercial [Member] | Significant Observable Inputs (Level 2) [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 215,764 | 425,010 | ||
Commercial [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 33,588,368 | 34,305,181 | ||
Residential Real Estate Loans [Member] | Significant Observable Inputs (Level 2) [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 4,674,686 | 4,524,018 | ||
Residential Real Estate Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 10,444,171 | 11,636,781 | ||
Carrying Amount [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 1,411,460 | 1,337,577 | ||
Interest-bearing deposits at banks | 36,025,382 | 41,872,304 | ||
Trading account assets | 197,558 | 468,031 | ||
Investment securities | 9,356,832 | 7,155,860 | ||
Loans and leases: | ||||
Consumer loans | 18,162,938 | 17,974,953 | ||
Allowance for credit losses | (1,472,359) | (1,469,226) | ||
Loans and leases, net | 90,336,033 | 91,443,226 | ||
Accrued interest receivable | 301,864 | 335,162 | ||
Financial liabilities: | ||||
Noninterest-bearing deposits | (58,520,366) | (60,131,480) | ||
Savings and interest-checking deposits | (65,273,150) | (68,603,966) | ||
Time deposits | (2,525,197) | (2,807,963) | ||
Short-term borrowings | (50,307) | (47,046) | ||
Long-term borrowings | (3,443,587) | (3,485,369) | ||
Accrued interest payable | (23,316) | (40,866) | ||
Trading account liabilities | (302,506) | (83,434) | ||
Other financial instruments: | ||||
Commitments to originate real estate loans for sale | (15,428) | 6,440 | ||
Commitments to sell real estate loans | 35,809 | 7,525 | ||
Other credit-related commitments | (118,390) | (123,032) | ||
Interest rate swap agreements used for interest rate risk management | 3,841 | (207) | ||
Carrying Amount [Member] | Commercial Loans And Leases [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 23,496,017 | 23,473,324 | ||
Carrying Amount [Member] | Commercial [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 34,553,558 | 35,389,730 | ||
Carrying Amount [Member] | Residential Real Estate Loans [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 15,595,879 | 16,074,445 | ||
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 1,411,460 | 1,337,577 | ||
Interest-bearing deposits at banks | 36,025,382 | 41,872,304 | ||
Trading account assets | 197,558 | 468,031 | ||
Investment securities | 9,218,915 | 7,192,476 | ||
Loans and leases: | ||||
Consumer loans | 18,307,086 | 18,121,363 | ||
Loans and leases, net | 90,461,122 | 92,297,577 | ||
Accrued interest receivable | 301,864 | 335,162 | ||
Financial liabilities: | ||||
Noninterest-bearing deposits | (58,520,366) | (60,131,480) | ||
Savings and interest-checking deposits | (65,273,150) | (68,603,966) | ||
Time deposits | (2,526,204) | (2,810,143) | ||
Short-term borrowings | (50,307) | (47,046) | ||
Long-term borrowings | (3,464,637) | (3,562,223) | ||
Accrued interest payable | (23,316) | (40,866) | ||
Trading account liabilities | (302,506) | (83,434) | ||
Other financial instruments: | ||||
Commitments to originate real estate loans for sale | (15,428) | 6,440 | ||
Commitments to sell real estate loans | 35,809 | 7,525 | ||
Other credit-related commitments | (118,390) | (123,032) | ||
Interest rate swap agreements used for interest rate risk management | 3,841 | (207) | ||
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member] | Commercial Loans And Leases [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 23,231,047 | 23,285,224 | ||
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member] | Commercial [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | 33,804,132 | 34,730,191 | ||
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member] | Residential Real Estate Loans [Member] | ||||
Loans and leases: | ||||
Commercial loans and leases | $ 15,118,857 | $ 16,160,799 |
Commitments and Contingencies -
Commitments and Contingencies - Commitments and Contingent Liabilities Outstanding (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Commitments to extend credit | ||
Home equity lines of credit | $ 5,713,950 | $ 5,693,045 |
Commercial real estate loans to be sold | 321,654 | 324,943 |
Other commercial real estate | 4,523,995 | 4,998,631 |
Residential real estate loans to be sold | 146,491 | 233,257 |
Other residential real estate | 982,216 | 924,211 |
Commercial and other | 21,884,664 | 22,145,057 |
Standby letters of credit | 2,177,405 | 2,151,595 |
Commercial letters of credit | 53,732 | 31,981 |
Financial guarantees and indemnification contracts | 4,453,722 | 4,211,797 |
Commitments to sell real estate loans | $ 862,061 | $ 1,367,523 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Loss Contingencies [Line Items] | ||
Commitments to extend credit to commercial customers | $ 11,000,000,000 | $ 10,800,000,000 |
Maximum credit risk for recourse associated with loans sold under Federal National Mortgage Association Delegated Underwriting and Servicing program | 4,000,000,000 | $ 4,000,000,000 |
Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Range of reasonably possible losses | 0 | |
Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Range of reasonably possible losses | $ 25,000,000 |
Segment Information - Informati
Segment Information - Information about Company's Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | $ 362,174 | $ 447,249 |
Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 1,445,061 | 1,486,993 |
Business Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 41,111 | 46,271 |
Business Banking [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 141,346 | 155,903 |
Business Banking [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 671 | 669 |
Commercial Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 144,608 | 122,638 |
Commercial Banking [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 289,372 | 285,912 |
Commercial Banking [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 863 | 809 |
Commercial Real Estate [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 97,610 | 71,272 |
Commercial Real Estate [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 202,087 | 200,843 |
Commercial Real Estate [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 179 | 222 |
Discretionary Portfolio [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 35,385 | 90,546 |
Discretionary Portfolio [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 64,727 | 134,544 |
Discretionary Portfolio [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | (27,805) | (10,027) |
Residential Mortgage Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 28,964 | 49,611 |
Residential Mortgage Banking [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 137,444 | 153,760 |
Residential Mortgage Banking [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 37,464 | 22,183 |
Retail Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 84,164 | 85,358 |
Retail Banking [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 355,148 | 346,917 |
Retail Banking [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | (3) | 272 |
All Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | (69,668) | (18,447) |
All Other [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 254,937 | 209,114 |
All Other [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | $ (11,369) | $ (14,128) |
Segment Information - Summary o
Segment Information - Summary of Segment Information (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 |
Segment Reporting Information [Line Items] | |||
Average Total Assets | $ 151,648 | $ 152,669 | $ 148,157 |
Business Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Average Total Assets | 6,568 | 8,007 | 8,622 |
Commercial Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Average Total Assets | 27,620 | 28,559 | 30,395 |
Commercial Real Estate [Member] | |||
Segment Reporting Information [Line Items] | |||
Average Total Assets | 22,648 | 25,628 | 26,097 |
Discretionary Portfolio [Member] | |||
Segment Reporting Information [Line Items] | |||
Average Total Assets | 22,899 | 22,262 | 23,650 |
Residential Mortgage Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Average Total Assets | 6,250 | 6,463 | 6,506 |
Retail Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Average Total Assets | 18,610 | 17,897 | 17,216 |
All Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Average Total Assets | $ 47,053 | $ 43,853 | $ 35,671 |
Segment Information - Summary_2
Segment Information - Summary of Segment Information (Parenthetical) (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Reporting [Abstract] | ||
Taxable-equivalent adjustment | $ 3,234,000 | $ 3,733,000 |
Relationship with Bayview Len_2
Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Schedule of Equity Method Investments [Line Items] | |||
Loan facility carrying amount | $ 3,443,587,000 | $ 3,485,369,000 | |
Bayview Lending Group [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Carrying value of minority interest investment in Bayview Lending Group LLC | $ 0 | ||
Minority interest in Bayview Lending Group LLC | 20.00% | ||
Bayview Lending Group [Member] | Other Revenues From Operations [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Income (loss) from equity method investments | $ 30,000,000 | $ 0 | |
Bayview Lending Group and Bayview Financial [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Outstanding principal balances of mortgage servicing rights | 1,600,000,000 | 1,600,000,000 | |
Revenue from contract with customer | 2,000,000 | 2,000,000 | |
Bayview Financial [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Outstanding principal balances of residential mortgage loans from Bayview Financial | 76,600,000,000 | 74,700,000,000 | |
Revenues from sub-servicing | 42,000,000 | $ 34,000,000 | |
Investment securities in held-to-maturity portfolio securitized by Bayview Financial | 58,000,000 | $ 62,000,000 | |
Bayview Financial [Member] | Syndicated Loan Facility [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Loan facility carrying amount | 1,100,000,000 | ||
Bayview Financial [Member] | Syndicated Loan Facility [Member] | M&T Bank [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Loan facility carrying amount | $ 167,000,000 |