Loans and Leases (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Schedule of Loans and Leases

Loans and leases were as follows:

(In thousands)	At June 30, 2020		At December 31, 2019
Commercial loan and lease portfolio:
Commercial and industrial	$	12,200,721	$	11,439,602
Commercial real estate	9,628,344		9,136,870
Lease financing	2,707,402		2,699,869
Total commercial loan and lease portfolio	24,536,467		23,276,341
Consumer loan portfolio:
Residential mortgage	6,123,118		6,179,805
Consumer installment	1,430,655		1,542,411
Home equity	3,445,584		3,498,907
Total consumer loan portfolio	10,999,357		11,221,123
Total loans and leases(1)	$	35,535,824	$	34,497,464

(1)

Loans and leases are reported at historical cost including net direct fees and costs associated with originating and acquiring loans and leases, lease residuals, unearned income and unamortized purchase premiums and discounts. The aggregate amount of these loan and lease adjustments was $(207.9) million and $(201.5) million at June 30, 2020 and December 31, 2019, respectively.

Schedule of Components of Total Lease Income

The components of total lease income were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Interest income - loans and leases:
Interest income on net investment in direct financing and sales-type leases	$	33,803	$	32,899	$	67,959	$	65,283
Leasing revenue (noninterest income):
Lease income from operating lease payments	23,799		25,497		47,701		50,896
Profit recorded on commencement date on sales-type leases	5,607		7,249		9,187		14,306
Gains on sales of leased equipment	7,766		6,531		13,849		12,240
Leasing revenue	37,172		39,277		70,737		77,442
Total lease income	$	70,975	$	72,176	$	138,696	$	142,725

Schedule of Components of Total Lease Income

The components of total lease income were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Interest income - loans and leases:
Interest income on net investment in direct financing and sales-type leases	$	33,803	$	32,899	$	67,959	$	65,283
Leasing revenue (noninterest income):
Lease income from operating lease payments	23,799		25,497		47,701		50,896
Profit recorded on commencement date on sales-type leases	5,607		7,249		9,187		14,306
Gains on sales of leased equipment	7,766		6,531		13,849		12,240
Leasing revenue	37,172		39,277		70,737		77,442
Total lease income	$	70,975	$	72,176	$	138,696	$	142,725

Summary of Net Gains On Sales of Loans

The following table summarizes the net gains on sales of loans and leases. The Corporation retains servicing on a majority of loans sold. See "Note 10. Loan Servicing Rights" for further information.

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Sale proceeds, net	$	579,204	$	318,790	$	1,134,386	$	593,776
Recorded investment in loans and leases sold, including accrued interest	555,358		308,155		1,092,538		575,264
Other	5,188		506		7,776		846
Net gains on sales of loans and leases	$	29,034	$	11,141	$	49,624	$	19,358

Interest-only Strips

The interest-only strips on the balance sheet related to loan sales were as follows:

(In thousands)	At June 30, 2020		At December 31, 2019
Interest-only strips	$	11,811	$	12,813