Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Segment Reporting Information, by Segment

Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:


	Three Months Ended June 30, 2020
(in thousands)	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other ⁽²⁾		Consolidated
Net interest income (loss)	$	182,856	$	5,644	$	79,641	$	16,706	$	(72,344)	$	212,503
Provision for credit losses	75,463		2,548		3,958		5,025		91		87,085
Non-interest income	12,133		4,238		10,894		84,045		4,170		115,480

Non-interest expense	56,517		8,261		61,175		47,075		8,882		181,910
Income (loss) before income taxes	63,009		(927)		25,402		48,651		(77,147)		58,988
Provision (benefit) for income taxes ⁽¹⁾	3,016		(232)		2,383		12,163		(11,268)		6,062
Net income (loss)	$	59,993	$	(695)	$	23,019	$	36,488	$	(65,879)	$	52,926

Notable fair value adjustments included in non-interest income:
Residential mortgage servicing rights	$	—	$	—	$	—	$	(11,437)	$	—	$	(11,437)
Interest rate swaps	(823)		—		—		—		—		(823)

⁽¹⁾ The Wholesale Bank and Retail Bank do not have the standard tax rate of 25% allocated in 2020 due to the impact of the goodwill impairment on these reporting units.

⁽²⁾ The Corporate & Other segment reflects the recording of the deferral of the fees and costs on loans originated during the period, and such fees and costs are reflected within net interest income and non-interest expense, respectively, upon loan origination for the Wholesale Bank, Retail Bank, Home Lending, and Wealth Management segments.


	Six Months Ended June 30, 2020
(in thousands)	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other⁽²⁾		Consolidated
Net interest income (loss)	$	293,536	$	11,060	$	160,689	$	31,528	$	(65,775)	$	431,038
Provision for credit losses	177,842		4,488		11,718		11,047		75		205,170
Non-interest income	13,743		8,858		25,679		101,730		6,115		156,125
Goodwill impairment	1,033,744		—		751,192		—		—		1,784,936
Non-interest expense (excluding goodwill impairment)	112,873		16,325		125,621		84,359		20,454		359,632
(Loss) income before income taxes	(1,017,180)		(895)		(702,163)		37,852		(80,189)		(1,762,575)
Provision (benefit) for income taxes ⁽¹⁾	21,033		(224)		14,519		9,463		(8,345)		36,446
Net (loss) income	$	(1,038,213)	$	(671)	$	(716,682)	$	28,389	$	(71,844)	$	(1,799,021)

Notable fair value adjustments included in non-interest income:
Residential mortgage servicing rights	$	—	$	—	$	—	$	(42,124)	$	—	$	(42,124)
Interest rate swaps	(15,129)		—		—		—		—		(15,129)

⁽¹⁾ The Wholesale Bank and Retail Bank do not have the standard tax rate of 25% allocated in 2020 due to the impact of the goodwill impairment on these reporting units.


	Three Months Ended June 30, 2019
(in thousands)	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other		Consolidated
Net interest income	$	110,883	$	6,084	$	86,047	$	10,809	$	13,339	$	227,162
Provision for loan and lease losses	16,490		576		1,116		922		248		19,352
Non-interest income	14,051		4,702		15,863		9,514		77,693		121,823
Non-interest expense	55,968		9,971		66,393		32,954		15,129		180,415
Income (loss) before income taxes	52,476		239		34,401		(13,553)		75,655		149,218
Provision (benefit) for income taxes	13,119		60		8,601		(3,388)		19,016		37,408
Net income (loss)	$	39,357	$	179	$	25,800	$	(10,165)	$	56,639	$	111,810

Notable fair value adjustments included in non-interest income:
Residential mortgage servicing rights	$	—	$	—	$	—	$	(24,658)	$	—	$	(24,658)
Interest rate swaps	(3,951)		—		—		—		—		(3,951)


(in thousands)	Six Months Ended June 30, 2019
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other		Consolidated
Net interest income	$	219,161	$	12,473	$	174,495	$	20,754	$	37,964	$	464,847
Provision for loan and lease losses	28,480		821		2,245		1,049		441		33,036
Non-interest income	22,892		9,240		31,181		20,906		83,344		167,563
Non-interest expense	110,753		18,785		129,884		61,454		31,131		352,007
Income (loss) before income taxes	102,820		2,107		73,547		(20,843)		89,736		247,367
Provision (benefit) for income taxes	25,705		527		18,387		(5,211)		22,116		61,524
Net income (loss)	$	77,115	$	1,580	$	55,160	$	(15,632)	$	67,620	$	185,843

Notable fair value adjustments included in non-interest income:
Residential mortgage servicing rights	$	—	$	—	$	—	$	(38,624)	$	—	$	(38,624)
Interest rate swaps	(6,431)		—		—		—		—		(6,431)


	June 30, 2020
(in thousands)	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other		Consolidated
Total assets	$	16,700,083	$	763,220	$	2,178,338	$	4,299,298	$	5,704,309	$	29,645,248
Total loans and leases	$	16,345,565	$	745,098	$	2,076,794	$	3,558,812	$	(54,814)	$	22,671,455
Total deposits	$	5,166,647	$	1,261,453	$	15,570,862	$	431,135	$	2,414,281	$	24,844,378


	December 31, 2019
(in thousands)	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other		Consolidated
Total assets	$	14,864,484	$	710,873	$	2,293,362	$	4,423,869	$	6,554,221	$	28,846,809
Total loans and leases	$	14,581,339	$	693,569	$	2,209,990	$	3,768,584	$	(57,798)	$	21,195,684
Total deposits	$	4,293,384	$	1,221,869	$	13,717,335	$	279,226	$	2,969,690	$	22,481,504