Allowance for credit losses (Tables)

12 Months Ended

Dec. 31, 2020

Changes in the allowance for credit losses for the years ended December 31, 2020, 2019 and 2018 were as follows:

	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated			Total
	(In thousands)
2020
Beginning balance	$	366,094			322,201			56,033			229,118			77,625		$	1,051,071
Adoption of new accounting standard		(61,474	)		23,656			53,896			194,004			(77,625	)		132,457
Provision for credit losses		220,544			356,203			(3,172	)		226,425			—			800,000
Net charge-offs
Charge-offs		(135,083	)		(35,891	)		(10,283	)		(152,250	)		—			(333,507	)
Recoveries		15,765			4,550			7,116			58,935			—			86,366
Net charge-offs		(119,318	)		(31,341	)		(3,167	)		(93,315	)		—			(247,141	)
Ending balance	$	405,846			670,719			103,590			556,232			—		$	1,736,387

2019
Beginning balance	$	330,055			341,655			69,125			200,564			78,045		$	1,019,444
Provision for credit losses		69,702			(10,726	)		(8,585	)		126,029			(420	)		176,000
Net charge-offs
Charge-offs		(58,244	)		(12,664	)		(12,711	)		(154,089	)		—			(237,708	)
Recoveries		24,581			3,936			8,204			56,614			—			93,335
Net charge-offs		(33,663	)		(8,728	)		(4,507	)		(97,475	)		—			(144,373	)
Ending balance	$	366,094			322,201			56,033			229,118			77,625		$	1,051,071

2018
Beginning balance	$	328,599			374,085			65,405			170,809			78,300		$	1,017,198
Provision for credit losses		33,967			(41,181	)		12,401			127,068			(255	)		132,000
Net charge-offs
Charge-offs		(60,414	)		(12,286	)		(15,345	)		(143,196	)		—			(231,241	)
Recoveries		27,903			21,037			6,664			45,883			—			101,487
Net (charge-offs) recoveries		(32,511	)		8,751			(8,681	)		(97,313	)		—			(129,754	)
Ending balance	$	330,055			341,655			69,125			200,564			78,045		$	1,019,444

Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans

Information with respect to loans and leases that were considered nonaccrual at the beginning and end of the reporting period and the interest income recognized on such loans for the years ended December 31, 2020, 2019 and 2018 follows.

	December 31, 2020						January 1, 2020		Year Ended December 31, 2020
	Amortized Cost with Allowance		Amortized Cost without Allowance		Total		Amortized Cost		Interest Income Recognized
	(In thousands)

Commercial, financial, leasing, etc.	$	226,897	$	79,930	$	306,827	$	346,743	$	11,269
Real estate:
Commercial		364,110		411,784		775,894		173,796		7,821
Residential builder and developer		1,094		—		1,094		4,708		1,694
Other commercial construction		20,992		93,047		114,039		35,881		8,457
Residential		159,006		206,723		365,729		322,504		18,069
Residential — limited documentation		84,568		62,602		147,170		114,667		634
Consumer:
Home equity lines and loans		61,031		18,361		79,392		65,039		4,092
Recreational finance		19,434		6,085		25,519		14,308		626
Automobile		34,044		5,360		39,404		21,293		186
Other		3,606		34,625		38,231		35,394		1,369
Total	$	974,782	$	918,517	$	1,893,299	$	1,134,333	$	54,217

	December 31, 2019						January 1, 2019		Year Ended December 31, 2019
	Amortized Cost with Allowance		Amortized Cost without Allowance		Total		Amortized Cost		Interest Income Recognized
	(In thousands)

Commercial, financial, leasing, etc.	$	206,644	$	139,913	$	346,557	$	234,423	$	8,960
Real estate:
Commercial		40,847		117,627		158,474		203,672		5,850
Residential builder and developer		604		3,378		3,982		4,798		357
Other commercial construction		12,425		20,345		32,770		22,205		634
Residential		59,982		175,681		235,663		233,352		12,630
Residential — limited documentation		26,710		56,717		83,427		84,685		1,092
Consumer:
Home equity lines and loans		24,812		38,403		63,215		71,292		5,987
Recreational finance		9,054		5,165		14,219		11,199		575
Automobile		14,805		6,488		21,293		23,359		214
Other		3,391		121		3,512		4,623		508
Total	$	399,274	$	563,838	$	963,112	$	893,608	$	36,807

	December 31, 2018						January 1, 2018		Year Ended December 31, 2018
	Amortized Cost with Allowance		Amortized Cost without Allowance		Total		Amortized Cost		Interest Income Recognized
	(In thousands)

Commercial, financial, leasing, etc.	$	126,753	$	107,670	$	234,423	$	240,991	$	7,873
Real estate:
Commercial		90,296		113,376		203,672		184,982		10,880
Residential builder and developer		2,205		2,593		4,798		6,451		1,779
Other commercial construction		14,604		7,601		22,205		10,088		3,474
Residential		57,346		176,006		233,352		235,834		14,065
Residential — limited documentation		26,808		57,877		84,685		96,105		1,980
Consumer:
Home equity lines and loans		30,819		40,473		71,292		74,500		5,535
Recreational finance		6,016		5,183		11,199		6,509		333
Automobile		16,271		7,088		23,359		23,781		689
Other		4,591		32		4,623		3,357		230
Total	$	375,709	$	517,899	$	893,608	$	882,598	$	46,838

Summary of Loan grades applied various classes of Commercial and Real Estate Loans

The following table summarizes the loan grades applied at December 31, 2020 to the various classes of the Company’s commercial loans and commercial real estate loans by origination year.

	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2020		2019		2018		2017		2016		Prior		Loans		Loans		Total
	(In thousands)
Commercial, financial, leasing, etc.:
Loan grades:
Pass	$	7,732,728		2,277,233		1,505,486		930,834		719,796		1,387,695		11,352,416		21,286	$	25,927,474
Criticized accrual		388,326		84,358		113,940		41,587		39,930		73,401		584,751		13,970		1,340,263
Criticized nonaccrual		7,720		27,309		56,227		16,808		19,681		45,471		125,893		7,718		306,827
Total commercial, financial, leasing, etc.	$	8,128,774		2,388,900		1,675,653		989,229		779,407		1,506,567		12,063,060		42,974	$	27,574,564

Real estate:
Commercial:
Loan grades:
Pass	$	3,353,450		4,681,834		3,299,095		2,628,061		2,746,165		5,698,834		875,348		—	$	23,282,787
Criticized accrual		526,037		400,154		579,507		290,885		568,144		1,212,672		44,260		—		3,621,659
Criticized nonaccrual		26,876		121,899		47,144		99,293		197,319		248,949		34,414		—		775,894
Total commercial real estate	$	3,906,363		5,203,887		3,925,746		3,018,239		3,511,628		7,160,455		954,022		—	$	27,680,340

Residential builder and developer:
Loan grades:
Pass	$	506,295		223,880		109,453		15,048		10,976		11,320		236,943		—	$	1,113,915
Criticized accrual		3,690		106,847		14,836		3,421		—		1,885		4,050		—		134,729
Criticized nonaccrual		—		518		—		—		—		576		—		—		1,094
Total residential builder and developer	$	509,985		331,245		124,289		18,469		10,976		13,781		240,993		—	$	1,249,738

Other commercial construction:
Loan grades:
Pass	$	1,050,258		2,998,921		2,048,063		945,339		233,127		294,030		74,611		—	$	7,644,349
Criticized accrual		37,192		148,492		381,091		225,949		144,665		12,034		—		—		949,423
Criticized nonaccrual		335		65,592		13,522		4,213		12,097		12,873		5,407		—		114,039
Total other commercial construction	$	1,087,785		3,213,005		2,442,676		1,175,501		389,889		318,937		80,018		—	$	8,707,811

Summary of loans in Accrual and Nonaccrual Status

. A summary of loans in accrual and nonaccrual status at December 31, 2020 for the various classes of the Company’s residential real estate loans and consumer loans by origination year is as follows.

	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2020		2019		2018		2017		2016		Prior		Loans		Loans		Total
	(In thousands)
Residential:
Current	$	2,722,862		1,416,259		618,736		1,318,094		718,235		6,898,756		71,894		—	$	13,764,836
30-89 days past due		13,496		7,781		7,258		13,477		7,947		150,447		—		—		200,406
Accruing loans past due 90 days or more		579		15,234		38,145		212,818		45,804		480,308		—		—		792,888
Nonaccrual		3,133		14,439		5,183		6,408		2,900		333,466		200		—		365,729
Total residential	$	2,740,070		1,453,713		669,322		1,550,797		774,886		7,862,977		72,094		—	$	15,123,859

Residential - limited documentation:
Current	$	—		—		—		—		—		1,462,277		—		—	$	1,462,277
30-89 days past due		—		—		—		—		—		19,687		—		—		19,687
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		147,170		—		—		147,170
Total residential - limited documentation	$	—		—		—		—		—		1,629,134		—		—	$	1,629,134

Consumer:
Home equity lines and loans:
Current	$	773		3,983		1,591		2,016		162		51,554		2,569,621		1,252,185	$	3,881,885
30-89 days past due		—		—		—		—		—		1,148		939		22,242		24,329
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		6,148		5,752		67,492		79,392
Total home equity lines and loans	$	773		3,983		1,591		2,016		162		58,850		2,576,312		1,341,919	$	3,985,606

	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2020		2019		2018		2017		2016		Prior		Loans		Loans		Total
	(In thousands)
Recreational finance:
Current	$	2,796,359		1,751,766		907,595		630,151		352,414		564,358		—		—	$	7,002,643
30-89 days past due		9,548		11,255		8,519		6,638		2,938		8,263		—		—		47,161
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		1,854		3,883		4,072		4,194		2,733		8,783		—		—		25,519
Total recreational finance	$	2,807,761		1,766,904		920,186		640,983		358,085		581,404		—		—	$	7,075,323
Automobile:
Current	$	1,595,636		1,106,782		629,338		440,604		171,017		63,972		—		—	$	4,007,349
30-89 days past due		6,461		14,140		12,542		12,899		6,373		3,083		—		—		55,498
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		1,615		7,144		10,788		10,061		5,991		3,805		—		—		39,404
Total automobile	$	1,603,712		1,128,066		652,668		463,564		183,381		70,860		—		—	$	4,102,251

Other:
Current	$	160,424		137,617		53,702		32,556		4,526		28,970		927,217		1,856	$	1,346,868
30-89 days past due		1,879		1,130		577		2,301		42		557		10,594		481		17,561
Accruing loans past due 90 days or more		—		—		—		—		—		374		4,207		—		4,581
Nonaccrual		1,493		492		339		183		31		501		35,044		148		38,231
Total other	$	163,796		139,239		54,618		35,040		4,599		30,402		977,062		2,485	$	1,407,241

Total loans and leases at December 31, 2020	$	20,949,019		15,628,942		10,466,749		7,893,838		6,013,013		19,233,367		16,963,561		1,387,378	$	98,535,867

Summary of Loan Grades

The following table summarizes the loan grades applied at December 31, 2019 to the various classes of the Company’s commercial loans and commercial real estate loans.

			Real Estate
	Commercial,				Residential		Other
	Financial,				Builder and		Commercial
	Leasing, etc.		Commercial		Developer		Construction
	(In thousands)
December 31, 2019
Pass	$	22,595,821		25,728,725		1,419,162		7,092,799
Criticized accrual		895,790		770,609		124,101		211,292
Criticized nonaccrual		346,557		158,474		3,982		32,770
Total	$	23,838,168		26,657,808		1,547,245		7,336,861