Allowance for credit losses (Tables)

12 Months Ended

Dec. 31, 2021

Changes in the allowance for credit losses for the years ended December 31, 2021, 2020 and 2019 were as follows:

	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated			Total
	(In thousands)
2021
Beginning balance	$	405,846		$	670,719		$	103,590		$	556,232		$	—		$	1,736,387
Provision for credit losses		(40,378	)		(42,825	)		(29,817	)		38,020			—			(75,000	)
Net charge-offs
Charge-offs		(122,651	)		(101,306	)		(10,904	)		(103,293	)		—			(338,154	)
Recoveries		41,082			30,651			8,857			65,403			—			145,993
Net charge-offs		(81,569	)		(70,655	)		(2,047	)		(37,890	)		—			(192,161	)
Ending balance	$	283,899		$	557,239		$	71,726		$	556,362		$	—		$	1,469,226

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

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, 2021, 2020 and 2019 follows.

	December 31, 2021						January 1, 2021		Year Ended December 31, 2021
	Amortized Cost with Allowance		Amortized Cost without Allowance		Total		Amortized Cost		Interest Income Recognized
	(In thousands)

Commercial, financial, leasing, etc.	$	110,790	$	110,232	$	221,022	$	306,827	$	11,865
Real estate:
Commercial		242,078		827,202		1,069,280		775,894		15,872
Residential builder and developer		613		2,392		3,005		1,094		973
Other commercial construction		30,229		81,176		111,405		114,039		596
Residential		198,560		157,298		355,858		365,729		23,772
Residential — limited documentation		79,777		43,111		122,888		147,170		528
Consumer:
Home equity lines and loans		32,269		38,219		70,488		79,392		3,780
Recreational finance		21,476		6,335		27,811		25,519		637
Automobile		29,314		4,723		34,037		39,404		186
Other		44,122		167		44,289		38,231		531
Total	$	789,228	$	1,270,855	$	2,060,083	$	1,893,299	$	58,740

	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

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

The following table summarizes the loan grades applied at December 31, 2021 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
	2021		2020		2019		2018		2017		Prior		Loans		Loans		Total
	(In thousands)
Commercial, financial, leasing, etc.:
Loan grades:
Pass	$	4,798,052		1,916,072		1,476,786		951,881		500,615		1,398,775		10,993,461		18,699	$	22,054,341
Criticized accrual		196,680		98,595		107,010		73,126		36,232		185,935		484,755		15,628		1,197,961
Criticized nonaccrual		19,462		23,229		17,114		39,908		20,927		33,698		60,175		6,509		221,022
Total commercial, financial, leasing, etc.	$	5,014,194		2,037,896		1,600,910		1,064,915		557,774		1,618,408		11,538,391		40,836	$	23,473,324

Real estate:
Commercial:
Loan grades:
Pass	$	3,413,587		2,662,999		3,682,178		2,648,388		2,076,155		5,232,790		728,948		—	$	20,445,045
Criticized accrual		133,133		480,146		685,701		1,068,552		468,530		1,743,798		38,570		—		4,618,430
Criticized nonaccrual		21,587		133,560		195,084		83,857		76,628		520,473		38,091		—		1,069,280
Total commercial real estate	$	3,568,307		3,276,705		4,562,963		3,800,797		2,621,313		7,497,061		805,609		—	$	26,132,755

Residential builder and developer:
Loan grades:
Pass	$	786,983		106,510		75,287		47,587		4,680		12,450		230,017		—	$	1,263,514
Criticized accrual		2,055		5,356		117,258		13,637		630		-		891		—		139,827
Criticized nonaccrual		—		—		2,910		—		—		95		—		—		3,005
Total residential builder and developer	$	789,038		111,866		195,455		61,224		5,310		12,545		230,908		—	$	1,406,346

Other commercial construction:
Loan grades:
Pass	$	957,947		1,781,603		2,022,276		832,547		152,669		273,556		38,781		—	$	6,059,379
Criticized accrual		24,103		54,191		675,226		583,428		228,739		114,158		—		—		1,679,845
Criticized nonaccrual		—		—		71,613		3,303		12,263		19,970		4,256		—		111,405
Total other commercial construction	$	982,050		1,835,794		2,769,115		1,419,278		393,671		407,684		43,037		—	$	7,850,629

Summary of loans in Accrual and Nonaccrual Status

. A summary of loans in accrual and nonaccrual status at December 31, 2021 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
	2021		2020		2019		2018		2017		Prior		Loans		Loans		Total
	(In thousands)
Residential:
Current	$	3,057,118		1,672,090		1,075,896		466,040		1,037,958		5,913,461		72,309		—	$	13,294,872
30-89 days past due		15,245		12,535		9,886		6,132		33,097		162,666		—		—		239,561
Accruing loans past due 90 days or more		10,924		100,581		28,512		31,996		205,318		542,749		—		—		920,080
Nonaccrual		3,359		19,858		7,119		4,577		5,890		314,792		263		—		355,858
Total residential	$	3,086,646		1,805,064		1,121,413		508,745		1,282,263		6,933,668		72,572		—	$	14,810,371

Residential - limited documentation:
Current	$	—		—		—		—		—		1,124,520		—		—	$	1,124,520
30-89 days past due		—		—		—		—		—		16,666		—		—		16,666
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		122,888		—		—		122,888
Total residential - limited documentation	$	—		—		—		—		—		1,264,074		—		—	$	1,264,074

Consumer:
Home equity lines and loans:
Current	$	304		777		2,793		1,730		1,944		38,015		2,348,279		1,082,775	$	3,476,617
30-89 days past due		—		—		—		21		—		698		346		14,421		15,486
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		5,750		4,951		59,787		70,488
Total home equity lines and loans	$	304		777		2,793		1,751		1,944		44,463		2,353,576		1,156,983	$	3,562,591

	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2021		2020		2019		2018		2017		Prior		Loans		Loans		Total
	(In thousands)
Recreational finance:
Current	$	2,890,111		2,088,342		1,267,929		646,883		445,868		646,040		—		—	$	7,985,173
30-89 days past due		5,929		8,912		8,317		5,074		5,189		7,123		—		—		40,544
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		1,341		4,646		4,871		4,918		4,039		7,996		—		—		27,811
Total recreational finance	$	2,897,381		2,101,900		1,281,117		656,875		455,096		661,159		—		—	$	8,053,528

Automobile:
Current	$	2,220,061		1,097,684		662,000		341,655		211,774		71,598		—		—	$	4,604,772
30-89 days past due		8,508		6,615		8,936		7,161		5,715		3,129		—		—		40,064
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		1,588		4,390		7,847		7,867		6,882		5,463		—		—		34,037
Total automobile	$	2,230,157		1,108,689		678,783		356,683		224,371		80,190		—		—	$	4,678,873

Other:
Current	$	244,346		96,945		73,586		24,424		16,924		14,321		1,148,096		1,505	$	1,620,147
30-89 days past due		2,937		404		472		255		101		5,712		1,908		434		12,223
Accruing loans past due 90 days or more		—		—		—		—		—		3,302		—		—		3,302
Nonaccrual		2,051		326		326		193		104		353		40,807		129		44,289
Total other	$	249,334		97,675		74,384		24,872		17,129		23,688		1,190,811		2,068	$	1,679,961

Total loans and leases at December 31, 2021	$	18,817,411		12,376,366		12,286,933		7,895,140		5,558,871		18,542,940		16,234,904		1,199,887	$	92,912,452