XML 49 R39.htm IDEA: XBRL DOCUMENT v3.23.3
Segment information (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Information about Company's Segments

 

 

Three Months Ended September 30, 2022

 

 

 

Total Revenues as Previously Reported

 

 

Impact of Changes

 

 

Total Revenues as Reclassified

 

 

Net Income (Loss) as Previously Reported

 

 

Impact of Changes

 

 

Net Income (Loss) as Reclassified

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Banking

 

$

241,629

 

 

 

—

 

 

$

241,629

 

 

$

94,094

 

 

 

(1,476

)

 

$

92,618

 

Commercial Banking

 

 

510,549

 

 

 

(1,173

)

 

 

509,376

 

 

 

214,063

 

 

 

(2,838

)

 

 

211,225

 

Commercial Real Estate

 

 

234,479

 

 

 

12,635

 

 

 

247,114

 

 

 

94,937

 

 

 

15,097

 

 

 

110,034

 

Discretionary Portfolio

 

 

36,622

 

 

 

(24,981

)

 

 

11,641

 

 

 

11,813

 

 

 

(18,074

)

 

 

(6,261

)

Residential Mortgage Banking

 

 

95,091

 

 

 

—

 

 

 

95,091

 

 

 

(3,283

)

 

 

1,173

 

 

 

(2,110

)

Retail Banking

 

 

650,229

 

 

 

(2

)

 

 

650,227

 

 

 

181,639

 

 

 

1,155

 

 

 

182,794

 

All Other

 

 

473,171

 

 

 

13,521

 

 

 

486,692

 

 

 

53,333

 

 

 

4,963

 

 

 

58,296

 

Total

 

$

2,241,770

 

 

 

—

 

 

$

2,241,770

 

 

$

646,596

 

 

 

—

 

 

$

646,596

 

 

 

 

Nine Months Ended September 30, 2022

 

 

 

Total Revenues as Previously Reported

 

 

Impact of Changes

 

 

Total Revenues as Reclassified

 

 

Net Income (Loss) as Previously Reported

 

 

Impact of Changes

 

 

Net Income (Loss) as Reclassified

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Banking

 

$

586,605

 

 

 

—

 

 

$

586,605

 

 

$

205,741

 

 

 

(6,008

)

 

$

199,733

 

Commercial Banking

 

 

1,239,300

 

 

 

(2,550

)

 

 

1,236,750

 

 

 

521,749

 

 

 

(20,254

)

 

 

501,495

 

Commercial Real Estate

 

 

676,176

 

 

 

29,707

 

 

 

705,883

 

 

 

314,284

 

 

 

24,941

 

 

 

339,225

 

Discretionary Portfolio

 

 

190,761

 

 

 

(39,866

)

 

 

150,895

 

 

 

103,283

 

 

 

(30,448

)

 

 

72,835

 

Residential Mortgage Banking

 

 

346,409

 

 

 

—

 

 

 

346,409

 

 

 

35,028

 

 

 

(2,095

)

 

 

32,933

 

Retail Banking

 

 

1,523,992

 

 

 

—

 

 

 

1,523,992

 

 

 

379,688

 

 

 

(13,243

)

 

 

366,445

 

All Other

 

 

1,106,405

 

 

 

12,709

 

 

 

1,119,114

 

 

 

(333,481

)

 

 

47,107

 

 

 

(286,374

)

Total

 

$

5,669,648

 

 

 

—

 

 

$

5,669,648

 

 

$

1,226,292

 

 

 

—

 

 

$

1,226,292

 

 

14. Segment information, continued

Information about the Company's segments follows:

 

 

Three Months Ended September 30

 

 

 

2023

 

 

2022

 

 

 

Total
 Revenues(a)

 

 

Inter-
segment
Revenues

 

 

Net
Income
(Loss)

 

 

Total
 Revenues(a)

 

 

Inter-
segment
Revenues

 

 

Net
Income
(Loss)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Banking

 

$

291,839

 

 

$

980

 

 

$

117,290

 

 

$

241,629

 

 

$

663

 

 

$

92,618

 

Commercial Banking

 

 

453,326

 

 

 

8,224

 

 

 

167,714

 

 

 

509,376

 

 

 

802

 

 

 

211,225

 

Commercial Real Estate

 

 

231,303

 

 

 

188

 

 

 

72,442

 

 

 

247,114

 

 

 

249

 

 

 

110,034

 

Discretionary Portfolio

 

 

(20,672

)

 

 

(14,110

)

 

 

(21,586

)

 

 

11,641

 

 

 

(23,044

)

 

 

(6,261

)

Residential Mortgage Banking

 

 

100,444

 

 

 

19,373

 

 

 

(14,422

)

 

 

95,091

 

 

 

35,647

 

 

 

(2,110

)

Retail Banking

 

 

876,002

 

 

 

(35

)

 

 

342,700

 

 

 

650,227

 

 

 

(5

)

 

 

182,794

 

All Other

 

 

402,727

 

 

 

(14,620

)

 

 

25,803

 

 

 

486,692

 

 

 

(14,312

)

 

 

58,296

 

Total

 

$

2,334,969

 

 

$

—

 

 

$

689,941

 

 

$

2,241,770

 

 

$

—

 

 

$

646,596

 

 

 

 

Nine Months Ended September 30

 

 

 

2023

 

 

2022

 

 

 

Total
 Revenues(a)

 

 

Inter-
segment
Revenues

 

 

Net
Income
(Loss)

 

 

Total
 Revenues(a)

 

 

Inter-
segment
Revenues

 

 

Net
Income
(Loss)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Banking

 

$

842,571

 

 

$

2,904

 

 

$

346,704

 

 

$

586,605

 

 

$

2,060

 

 

$

199,733

 

Commercial Banking

 

 

1,420,971

 

 

 

27,742

 

 

 

553,255

 

 

 

1,236,750

 

 

 

2,605

 

 

 

501,495

 

Commercial Real Estate

 

 

674,276

 

 

 

745

 

 

 

192,539

 

 

 

705,883

 

 

 

687

 

 

 

339,225

 

Discretionary Portfolio

 

 

(78,005

)

 

 

(44,124

)

 

 

(93,678

)

 

 

150,895

 

 

 

(74,952

)

 

 

72,835

 

Residential Mortgage Banking

 

 

280,654

 

 

 

60,599

 

 

 

(41,676

)

 

 

346,409

 

 

 

110,986

 

 

 

32,933

 

Retail Banking

 

 

2,572,410

 

 

 

(113

)

 

 

995,927

 

 

 

1,523,992

 

 

 

(12

)

 

 

366,445

 

All Other

 

 

1,629,789

 

 

 

(47,753

)

 

 

305,528

 

 

 

1,119,114

 

 

 

(41,374

)

 

 

(286,374

)

Total

 

$

7,342,666

 

 

$

—

 

 

$

2,258,599

 

 

$

5,669,648

 

 

$

—

 

 

$

1,226,292

 

 

 

 

Average Total Assets

 

 

 

Nine Months Ended September 30

 

 

Year Ended
December 31

 

 

 

2023

 

 

2022

 

 

2022

 

 

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

Business Banking

 

$

7,968

 

 

$

7,515

 

 

$

7,597

 

Commercial Banking (b)

 

 

49,373

 

 

 

39,293

 

 

 

40,930

 

Commercial Real Estate (b)

 

 

31,878

 

 

 

29,982

 

 

 

30,599

 

Discretionary Portfolio

 

 

50,900

 

 

 

40,987

 

 

 

42,657

 

Residential Mortgage Banking

 

 

2,746

 

 

 

4,370

 

 

 

3,986

 

Retail Banking

 

 

21,261

 

 

 

20,063

 

 

 

20,312

 

All Other

 

 

40,140

 

 

 

45,185

 

 

 

44,171

 

Total

 

$

204,266

 

 

$

187,395

 

 

$

190,252

 

 

(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 $14.3 million and $11.8 million for the three-month periods ended September 30, 2023 and 2022, respectively, and $41.7 million and $25.8 million for the nine-month periods ended September 30, 2023 and 2022 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.
(b)
For the nine months ended September 30, 2022, average total assets totaling approximately $1.17 billion were reclassified to the Commercial Real Estate segment from the Commercial Banking segment as a result of the realignment of certain lending relationships within the hospitality sector.