Reportable Segments

3 Months Ended

Mar. 31, 2020

The Corporation's reportable segments are Consumer Banking, Commercial Banking and Enterprise Services. Consumer Banking is comprised of all of the Corporation's consumer-facing businesses and includes retail banking, consumer lending, wealth management and small business banking. Commercial Banking, previously named Wholesale Banking, is comprised of commercial and industrial and commercial real estate banking and lease financing. Enterprise Services is comprised of (i) corporate treasury, which includes the Corporation's investment and borrowing portfolios and management of capital, debt and market risks, (ii) corporate functions, such as information technology, risk and credit management, bank operations, finance, investor relations, corporate development, internal audit, legal and human capital management that provide services to the operating segments, (iii) the Holding Company and (iv) eliminations.

In connection with the Merger, effective August 1, 2019, the Corporation renamed its Wholesale Banking segment to Commercial Banking to align with the way it is now managed. In addition, activity that was related to small business banking and private banking were moved from the Wholesale Banking (now named Commercial Banking) segment to the Consumer Banking segment. The revised presentation of previously reported segment data has been applied retroactively to all periods presented in these financial statements.

The Corporation evaluates performance and allocates resources based on each reportable segment's net income or loss. The reportable segments follow GAAP as described in Note 1. Basis of Presentation, except for the accounting for intercompany interest income and interest expense, which are eliminated in consolidation and presenting net interest income on a fully tax-equivalent basis. The Corporation generally accounts for inter-segment sales and transfers at cost.

Certain information for each of the Corporation's reportable segments, including reconciliations of the consolidated totals, was as follows:



(In thousands)	Consumer Banking		Commercial Banking		Enterprise Services			Consolidated
At or For the Three Months Ended March 31, 2020
Net interest income (expense)	$	193,832	$	185,986	$	21,663		$	401,481
Provision for credit losses	44,369		52,574		—			96,943
Net interest income (expense) after provision for credit losses	149,463		133,412		21,663			304,538
Noninterest income	81,414		55,773		(224		)	136,963
Noninterest expense	228,859		114,455		31,285			374,599
Income tax expense (benefit)	1,982		16,306		(5,202		)	13,086
Income (loss) after income tax expense (benefit)	36		58,424		(4,644		)	53,816
Income attributable to non-controlling interest	—		1,917		—			1,917
Preferred stock dividends	—		—		2,493			2,493
Net income (loss) available to common shareholders	36		56,507		(7,137		)	49,406
Total assets	$	14,463,055	$	24,859,839	$	9,271,489		$	48,594,383
At or For the Three Months Ended March 31, 2019
Net interest income (expense)	$	140,702	$	96,685	$	17,042		$	254,429
Provision (benefit) for credit losses	7,226		2,896		—			10,122
Net interest income (expense) after provision for credit losses	133,476		93,789		17,042			244,307
Noninterest income	60,503		42,499		502			103,504
Noninterest expense	156,521		83,413		13,141			253,075
Income tax expense (benefit)	8,741		11,759		787			21,287
Income (loss) after income tax expense (benefit)	28,717		41,116		3,616			73,449
Income attributable to non-controlling interest	—		2,955		—			2,955
Preferred stock dividends	—		—		2,493			2,493
Net income (loss) available to common shareholders	28,717		38,161		1,123			68,001
Total assets	$	8,036,742	$	12,735,702	$	3,646,271		$	24,418,715