Segment information (Tables)

12 Months Ended

Dec. 31, 2020

Information about the Company’s segments is presented in the accompanying table. Income statement amounts are in thousands of dollars. Balance sheet amounts are in millions of dollars.

	For the Years Ended December 31, 2020, 2019 and 2018
	Business Banking							Commercial Banking						Commercial Real Estate									Discretionary Portfolio
	2020		2019		2018			2020		2019		2018		2020			2019			2018			2020			2019		2018
Net interest income(a)	$	462,614	$	451,307	$	434,579		$	864,149	$	828,888	$	821,812	$	673,894		$	692,526		$	665,220		$	486,831		$	209,807	$	228,051
Noninterest income		103,837		113,855		111,600			276,791		289,558		288,908		208,367			214,970			183,955			(1,735	)		26,919		(9,690	)
		566,451		565,162		546,179			1,140,940		1,118,446		1,110,720		882,261			907,496			849,175			485,096			236,726		218,361
Provision for credit losses		25,928		16,501		10,916			73,099		25,580		8,976		107,210			1,537			3,159			1,508			3,608		6,683
Amortization of core deposit and other intangible assets		—		—		—			—		—		—		1,060			1,060			1,060			—			—		—
Depreciation and other amortization		1,482		2,066		382			2,421		2,353		496		28,187			26,963			25,852			285			279		187
Other noninterest expense		322,868		317,482		305,340			375,769		382,214		364,102		256,428			239,333			217,387			54,339			52,885		65,393
Income (loss) before taxes		216,173		229,113		229,541			689,651		708,299		737,146		489,376			638,603			601,717			428,964			179,954		146,098
Income tax expense (benefit)		56,953		60,617		61,279			181,179		187,835		198,229		107,548			152,977			148,807			101,673			36,342		29,872
Net income (loss)	$	159,220	$	168,496	$	168,262		$	508,472	$	520,464	$	538,917	$	381,828		$	485,626		$	452,910		$	327,291		$	143,612	$	116,226
Average total assets (in millions)	$	8,152	$	5,793	$	5,631		$	30,338	$	28,142	$	26,626	$	25,792		$	23,921		$	22,885		$	27,726		$	29,081	$	32,123
Capital expenditures (in millions)	$	—	$	1	$	—		$	—	$	2	$	—	$	—		$	—		$	—		$	—		$	—	$	1

	For the Years Ended December 31, 2020, 2019 and 2018
	Residential Mortgage Banking							Retail Banking						All Other									Total
	2020		2019		2018			2020		2019		2018		2020			2019			2018			2020			2019		2018
Net interest income(a)	$	52,712	$	20,008	$	13,933		$	1,204,309	$	1,389,788	$	1,351,165	$	121,808		$	537,940		$	557,542		$	3,866,317		$	4,130,264	$	4,072,302
Noninterest income		515,549		393,372		305,560			260,163		327,562		324,228		725,472			695,443			651,439			2,088,444			2,061,679		1,856,000
		568,261		413,380		319,493			1,464,472		1,717,350		1,675,393		847,280			1,233,383			1,208,981			5,954,761			6,191,943		5,928,302
Provision for credit losses		1,785		382		(2,178	)		108,268		122,135		112,572		482,202			6,257			(8,128	)		800,000			176,000		132,000
Amortization of core deposit and other intangible assets		—		—		—			—		—		—		13,809			18,430			23,462			14,869			19,490		24,522
Depreciation and other amortization		60,129		48,248		24,288			95,936		93,312		35,274		116,979			108,604			68,004			305,419			281,825		154,483
Other noninterest expense		332,028		273,067		241,624			764,262		784,718		789,783		959,258			1,117,668			1,125,428			3,064,952			3,167,367		3,109,057
Income (loss) before taxes		174,319		91,683		55,759			496,006		717,185		737,764		(724,968	)		(17,576	)		215			1,769,521			2,547,261		2,508,240
Income tax expense (benefit)		40,667		19,355		10,272			130,745		189,611		196,467		(202,396	)		(28,625	)		(54,766	)		416,369			618,112		590,160
Net income (loss)	$	133,652	$	72,328	$	45,487		$	365,261	$	527,574	$	541,297	$	(522,572	)	$	11,049		$	54,981		$	1,353,152		$	1,929,149	$	1,918,080
Average total assets (in millions)	$	4,038	$	2,611	$	2,161		$	16,438	$	15,083	$	13,656	$	22,996		$	14,953		$	13,877		$	135,480		$	119,584	$	116,959
Capital expenditures (in millions)	$	—	$	1	$	1		$	34	$	76	$	31	$	138		$	98		$	65		$	172		$	178	$	98

(a)

Net interest income is the difference between actual taxable-equivalent interest earned on assets and interest paid on liabilities by a segment and a funding charge (credit) based on the Company’s internal funds transfer pricing 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 $17,288,000 in 2020, $22,863,000 in 2019 and $21,897,000 in 2018 and is eliminated in “All Other” net interest income and income tax expense (benefit).

Intersegment Activity Eliminated in Arriving at Consolidated Totals was Included in "All Other" Category

The amount of intersegment activity eliminated in arriving at consolidated totals was included in the “All Other” category as follows:

	Year Ended December 31
	2020			2019			2018
	(In thousands)

Revenues	$	(47,604	)	$	(48,559	)	$	(41,285	)
Expenses		(14,038	)		(18,218	)		(24,660	)
Income taxes		(8,824	)		(7,976	)		(4,371	)
Net income		(24,742	)		(22,365	)		(12,254	)