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Loans and Leases (Tables)
 3 Months Ended
Mar. 31, 2021
Receivables [Abstract]  
Schedule of Loans and Leases
Loans and leases were as follows:
(In thousands)At March 31, 2021At December 31, 2020
Commercial loan and lease portfolio:  
Commercial and industrial(1)
$12,856,701 $11,422,383 
Commercial real estate9,881,341 9,702,587 
Lease financing2,956,626 2,817,231 
Total commercial loan and lease portfolio25,694,668 23,942,201 
Consumer loan portfolio:
Residential mortgage6,510,981 6,182,045 
Home equity2,864,142 3,108,736 
Consumer installment1,151,228 1,233,426 
Total consumer loan portfolio10,526,351 10,524,207 
Total loans and leases(2)
$36,221,019 $34,466,408 
(1)Includes $1.9 billion and $1.6 billion of PPP loans at March 31, 2021 and December 31, 2020, respectively.
(2)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 $(85.4) million and $(118.6) million at March 31, 2021 and December 31, 2020, respectively.
Schedule of Components of Total Lease Income The components of total lease income were as follows:
Three Months Ended March 31,
(In thousands)20212020
Interest and fees on loans and leases (Interest income):
Interest income on net investment in direct financing and sales-type leases$34,189 $34,156 
Leasing revenue (Noninterest income):
Lease income from operating lease payments25,550 23,902 
Profit recorded on commencement date on sales-type leases6,541 3,580 
Gains on sales of leased equipment4,362 6,083 
Leasing revenue36,453 33,565 
Total lease income$70,642 $67,721 
Schedule of Components of Total Lease Income The components of total lease income were as follows:
Three Months Ended March 31,
(In thousands)20212020
Interest and fees on loans and leases (Interest income):
Interest income on net investment in direct financing and sales-type leases$34,189 $34,156 
Leasing revenue (Noninterest income):
Lease income from operating lease payments25,550 23,902 
Profit recorded on commencement date on sales-type leases6,541 3,580 
Gains on sales of leased equipment4,362 6,083 
Leasing revenue36,453 33,565 
Total lease income$70,642 $67,721 
Summary of Net Gains On Sales of Loans The following table summarizes the net gains on sales of loans and leases related to all loan and lease sales. The Corporation retains servicing on a majority of loans sold. See "Note 10. Loan Servicing Rights" for further information.
Three Months Ended March 31,
(In thousands)20212020
Sale proceeds, net$593,347 $555,182 
Recorded investment in loans and leases sold, including accrued interest563,489 537,180 
Other(8,135)2,588 
Net gains on sales of loans and leases related to all loan and lease sales(1)
$21,723 $20,590 
(1)Three months ended March 31, 2021 amount included within net gain on sales of loans and leases ($6.1 million) and mortgage banking income ($15.7 million). Three months ended March 31, 2020 amounts included within net gain on sales of loans and leases ($7.6 million) and mortgage banking income ($13.0 million).
Interest-only Strips
The interest-only strips on the balance sheet related to loan sales were as follows:
(In thousands)At March 31, 2021At December 31, 2020
Interest-only strips$6,737 $7,823