Segment information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment information

15. 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. Information about the Company's segments follows.

15. Segment information, continued

	Three Months Ended June 30
	2022								2021
	Total  Revenues(a)		Inter- segment Revenues			Net Income (Loss)			Total  Revenues(a)		Inter- segment Revenues			Net Income (Loss)
	(In thousands)
Business Banking	$	203,630	$	726		$	70,536		$	145,098	$	794		$	41,607
Commercial Banking		343,353		940			130,431			284,659		1,012			111,035
Commercial Real Estate		239,610		259			121,737			200,559		230			86,690
Discretionary Portfolio		89,412		(24,103	)		56,085			118,307		(10,079	)		78,532
Residential Mortgage Banking		113,874		37,875			9,347			146,682		22,875			30,103
Retail Banking		593,228		(4	)		139,431			350,988		281			89,200
All Other		399,710		(15,693	)		(310,045	)		209,680		(15,113	)		20,902
Total	$	1,982,817	$	—		$	217,522		$	1,455,973	$	—		$	458,069

	Six Months Ended June 30
	2022								2021
	Total  Revenues(a)		Inter- segment Revenues			Net Income (Loss)			Total  Revenues(a)		Inter- segment Revenues			Net Income (Loss)
	(In thousands)
Business Banking	$	344,976	$	1,397		$	111,647		$	301,001	$	1,463		$	87,878
Commercial Banking		632,725		1,803			275,039			570,571		1,821			233,673
Commercial Real Estate		441,697		438			219,347			401,402		452			157,962
Discretionary Portfolio		154,139		(51,908	)		91,470			252,851		(20,106	)		169,078
Residential Mortgage Banking		251,318		75,339			38,311			300,442		45,058			79,714
Retail Banking		948,376		(7	)		223,595			697,905		553			174,558
All Other		654,647		(27,062	)		(379,713	)		418,794		(29,241	)		2,455
Total	$	3,427,878	$	—		$	579,696		$	2,942,966	$	—		$	905,318

(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 $10,726,000 and $3,732,000 for the three-month periods ended June 30, 2022 and 2021, respectively, and $13,960,000 and $7,465,000 for the six-month periods ended June 30, 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.

	Average Total Assets
	Six Months Ended June 30				Year Ended December 31
	2022		2021		2021
	(In millions)
Business Banking	$	7,316	$	8,681	$	8,007
Commercial Banking		31,632		29,927		28,559
Commercial Real Estate		27,784		25,999		25,628
Discretionary Portfolio		36,292		22,769		22,262
Residential Mortgage Banking		5,014		6,638		6,463
Retail Banking		24,411		17,444		17,897
All Other		47,965		37,948		43,853
Total	$	180,414	$	149,406	$	152,669