Selected segment information |
Information about the Corporation’s segments is presented below. | | | | | | | | | | | | | | | | | Segment Income Statement Data | | | | | | | | ($ in Thousands) | Corporate and Commercial Specialty | | Community, Consumer, and Business | | Risk Management and Shared Services | | Consolidated Total | Six Months Ended June 30, 2016 | | | | | | | | Net interest income | $ | 159,233 |
| | $ | 170,574 |
| | $ | 18,897 |
| | $ | 348,704 |
| Noninterest income | 22,549 |
| | 128,880 |
| | 13,931 |
| | 165,360 |
| Total revenue | 181,782 |
| | 299,454 |
| | 32,828 |
| | 514,064 |
| Credit provision* | 27,853 |
| | 12,388 |
| | (6,241 | ) | | 34,000 |
| Noninterest expense | 71,543 |
| | 243,260 |
| | 33,528 |
| | 348,331 |
| Income before income taxes | 82,386 |
| | 43,806 |
| | 5,541 |
| | 131,733 |
| Income tax expense (benefit) | 27,716 |
| | 15,332 |
| | (2,940 | ) | | 40,108 |
| Net income | $ | 54,670 |
| | $ | 28,474 |
| | $ | 8,481 |
| | $ | 91,625 |
| Return on average allocated capital (ROCET1)** | 10.5 | % | | 9.1 | % | | 3.7 | % | | 9.2 | % | Six Months Ended June 30, 2015 | | | | | | | | Net interest income | $ | 151,846 |
| | $ | 173,742 |
| | $ | 8,713 |
| | $ | 334,301 |
| Noninterest income | 24,918 |
| | 134,874 |
| | 6,503 |
| | 166,295 |
| Total revenue | 176,764 |
| | 308,616 |
| | 15,216 |
| | 500,596 |
| Credit provision* | 19,460 |
| | 13,663 |
| | (23,623 | ) | | 9,500 |
| Noninterest expense | 69,350 |
| | 243,760 |
| | 37,659 |
| | 350,769 |
| Income before income taxes | 87,954 |
| | 51,193 |
| | 1,180 |
| | 140,327 |
| Income tax expense (benefit) | 30,429 |
| | 17,918 |
| | (4,092 | ) | | 44,255 |
| Net income | $ | 57,525 |
| | $ | 33,275 |
| | $ | 5,272 |
| | $ | 96,072 |
| Return on average allocated capital (ROCET1)** | 12.1 | % | | 10.4 | % | | 2.4 | % | | 10.4 | % |
| | | | | | | | | | | | | | | | | Segment Balance Sheet Data | | | | | | | | ($ in Thousands) | Corporate and Commercial Specialty | | Community, Consumer, and Business | | Risk Management and Shared Services | | Consolidated Total | Average Balances for YTD June 2016 | | | | | | | | Average earning assets | $ | 9,924,378 |
| | $ | 9,222,677 |
| | $ | 6,473,156 |
| | $ | 25,620,211 |
| Average loans | 9,913,591 |
| | 9,221,370 |
| | 147,447 |
| | 19,282,408 |
| Average deposits | 5,744,533 |
| | 11,215,704 |
| | 3,471,729 |
| | 20,431,966 |
| Average allocated capital (CET1)** | $ | 1,049,431 |
| | $ | 630,520 |
| | $ | 224,910 |
| | $ | 1,904,861 |
| Average Balances for YTD June 2015 | | | | | | | | Average earning assets | $ | 9,321,388 |
| | $ | 8,618,054 |
| | $ | 6,268,081 |
| | $ | 24,207,523 |
| Average loans | 9,311,672 |
| | 8,618,054 |
| | 73,015 |
| | 18,002,741 |
| Average deposits | 5,571,627 |
| | 10,693,412 |
| | 3,077,242 |
| | 19,342,281 |
| Average allocated capital (CET1)** | $ | 955,799 |
| | $ | 643,796 |
| | $ | 212,466 |
| | $ | 1,812,061 |
|
| | | | | | | | | | | | | | | | | Segment Income Statement Data | | | | | | | | ($ in Thousands) | Corporate and Commercial Specialty | | Community, Consumer, and Business | | Risk Management and Shared Services | | Consolidated Total | Three Months Ended June 30, 2016 | | | | | | | | Net interest income | $ | 80,069 |
| | $ | 84,969 |
| | $ | 11,679 |
| | $ | 176,717 |
| Noninterest income | 10,936 |
| | 65,132 |
| | 6,100 |
| | 82,168 |
| Total revenue | 91,005 |
| | 150,101 |
| | 17,779 |
| | 258,885 |
| Credit provision* | 15,114 |
| | 6,246 |
| | (7,360 | ) | | 14,000 |
| Noninterest expense | 37,140 |
| | 121,965 |
| | 15,255 |
| | 174,360 |
| Income before income taxes | 38,751 |
| | 21,890 |
| | 9,884 |
| | 70,525 |
| Income tax expense | 13,137 |
| | 7,662 |
| | 635 |
| | 21,434 |
| Net income | $ | 25,614 |
| | $ | 14,228 |
| | $ | 9,249 |
| | $ | 49,091 |
| Return on average allocated capital (ROCET1)** | 9.7 | % | | 9.0 | % | | 13.4 | % | | 9.9 | % | Three Months Ended June 30, 2015 | | | | | | | | Net interest income | $ | 76,155 |
| | $ | 87,385 |
| | $ | 2,948 |
| | $ | 166,488 |
| Noninterest income | 12,305 |
| | 69,530 |
| | 4,647 |
| | 86,482 |
| Total revenue | 88,460 |
| | 156,915 |
| | 7,595 |
| | 252,970 |
| Credit provision* | 9,935 |
| | 6,592 |
| | (11,527 | ) | | 5,000 |
| Noninterest expense | 34,889 |
| | 125,387 |
| | 16,501 |
| | 176,777 |
| Income before income taxes | 43,636 |
| | 24,936 |
| | 2,621 |
| | 71,193 |
| Income tax expense (benefit) | 15,061 |
| | 8,728 |
| | (1,996 | ) | | 21,793 |
| Net income | $ | 28,575 |
| | $ | 16,208 |
| | $ | 4,617 |
| | $ | 49,400 |
| Return on average allocated capital (ROCET1)** | 11.8 | % | | 10.2 | % | | 5.8 | % | | 10.5 | % |
| | | | | | | | | | | | | | | | | Segment Balance Sheet Data | | | | | | | | ($ in Thousands) | Corporate and Commercial Specialty | | Community, Consumer, and Business | | Risk Management and Shared Services | | Consolidated Total | Average Balances for 2Q16 | | | | | | | | Average earning assets | $ | 10,128,726 |
| | $ | 9,325,036 |
| | $ | 6,514,287 |
| | $ | 25,968,049 |
| Average loans | 10,115,959 |
| | 9,323,720 |
| | 202,306 |
| | 19,641,985 |
| Average deposits | 5,570,919 |
| | 11,331,214 |
| | 3,386,820 |
| | 20,288,953 |
| Average allocated capital (CET1)** | $ | 1,067,203 |
| | $ | 633,829 |
| | $ | 212,209 |
| | $ | 1,913,241 |
| Average Balances for 2Q15 | | | | | | | | Average earning assets | $ | 9,422,805 |
| | $ | 8,709,691 |
| | $ | 6,133,871 |
| | $ | 24,266,367 |
| Average loans | 9,411,245 |
| | 8,709,691 |
| | 67,369 |
| | 18,188,305 |
| Average deposits | 5,720,064 |
| | 10,862,330 |
| | 3,043,816 |
| | 19,626,210 |
| Average allocated capital (CET1)** | $ | 968,690 |
| | $ | 640,256 |
| | $ | 210,873 |
| | $ | 1,819,819 |
| * The consolidated credit provision is equal to the actual reported provision for credit losses. | ** The Federal Reserve establishes capital adequacy requirements for the Corporation, including Tier 1 capital. Tier 1 capital is comprised of common capital and certain redeemable, non-cumulative preferred stock. Average allocated capital represents average common equity Tier 1 which is defined as average Tier 1 capital excluding qualifying perpetual preferred stock and qualifying trust preferred securities. For segment reporting purposes, the ROCET1, a non-GAAP financial measure, reflects return on average allocated common equity Tier 1 (“CET1”). The ROCET1 for the Risk Management and Shared Services segment and the Consolidated Total is inclusive of the annualized effect of the preferred stock dividends. |
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