XML 47 R32.htm IDEA: XBRL DOCUMENT
v3.22.4

Business Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Business Segment Information | BUSINESS SEGMENT INFORMATION BancShares began reporting multiple segments during the first quarter of 2022 and now reports General Banking, Commercial Banking, Rail, and Corporate segments, as further discussed in Note 1 — Significant Accounting Policies and Basis of Presentation. Each of the segments are described below. General Banking General Banking delivers products and services to consumers and businesses through an extensive network of branches and various digital channels, including a full suite of deposit products, loans (primarily residential mortgages and business/commercial loans), and various fee-based services. General Banking also provides a variety of wealth management products and services to individuals and institutional clients, including brokerage, investment advisory, and trust services. In addition, General Banking has a dedicated business line that supports deposit, cash management and lending to homeowner associations and property management companies nationwide. Revenue is primarily generated from interest earned on loans and fees for banking and advisory services. General Banking segment is the primary deposit gathering business of FCB. Commercial Banking Commercial Banking provides a range of lending, leasing, capital markets, asset management and other financial and advisory services primarily to small and middle market companies in a wide range of industries. Loans offered are primarily senior secured loans collateralized by accounts receivable, inventory, machinery and equipment, transportation equipment and/or intangibles, and are often used for working capital, plant expansion, acquisitions or recapitalizations. These loans include revolving lines of credit and term loans and, depending on the nature of the collateral, may be referred to as collateral-backed loans, asset-based loans or cash flow loans. Commercial Banking provides senior secured loans to developers and other commercial real estate professionals, and also provides small business loans and leases, including both capital and operating leases, through a highly automated credit approval, documentation and funding process. Commercial Banking provides factoring, receivable management, and secured financing to businesses that operate in various industries. Revenue is primarily generated from interest earned on loans, rents on equipment leased, fees and other revenue from lending and leasing activities and banking services, along with capital markets transactions and commissions earned on factoring and related activities. Rail Rail offers customized leasing and financing solutions on a fleet of railcars and locomotives to railroads and shippers throughout North America. Railcar types include covered hopper cars used to ship grain and agricultural products, plastic pellets, sand, and cement; tank cars for energy products and chemicals; gondolas for coal, steel coil and mill service products; open hopper cars for coal and aggregates; boxcars for paper and auto parts, and center beams and flat cars for lumber. Revenue is primarily from operating lease income. Corporate Certain items that are not allocated to operating segments are included in the Corporate segment. Some of the more significant and recurring items include interest income on investment securities, a portion of interest expense primarily related to corporate funding costs (including brokered deposits), income on BOLI (other noninterest income), merger-related costs, as well as certain unallocated costs and intangible asset amortization expense (operating expenses). Corporate also includes certain significant items that are infrequent, such as: the Initial Non-PCD Provision for loans and leases and unfunded commitments; and the gain on acquisition, each of which are related to the CIT Merger. Segment Net Income (Loss) and Select Period End Balances The following table presents the condensed income statements and select period end balances for each segment.
dollars in millions | Year Ended December 31, 2022
| General Banking |  | Commercial Banking |  | Rail |  | Corporate |  | Total BancShares
Net interest income (expense) | $ | 1,942 |  |  | $ | 889 |  |  | $ | (80) |  |  | $ | 195 |  |  | $ | 2,946 |
Provision for credit losses | 11 |  |  | 121 |  |  | — |  |  | 513 |  |  | 645 |
Net interest income (expense) after provision for credit losses | 1,931 |  |  | 768 |  |  | (80) |  |  | (318) |  |  | 2,301 |
Noninterest income | 472 |  |  | 521 |  |  | 657 |  |  | 486 |  |  | 2,136 |
Noninterest expense | 1,570 |  |  | 746 |  |  | 428 |  |  | 331 |  |  | 3,075 |
Income (loss) before income taxes | 833 |  |  | 543 |  |  | 149 |  |  | (163) |  |  | 1,362 |
Income tax expense (benefit) | 204 |  |  | 128 |  |  | 37 |  |  | (105) |  |  | 264 |
Net income (loss) | $ | 629 |  |  | $ | 415 |  |  | $ | 112 |  |  | $ | (58) |  |  | $ | 1,098 |
Select Period End Balances |  |  |  |  |  |  |  |  |
Loans and leases | $ | 42,930 |  |  | $ | 27,773 |  |  | $ | 78 |  |  | $ | — |  |  | $ | 70,781 |
Deposits | 84,361 |  |  | 3,225 |  |  | 15 |  |  | 1,807 |  |  | 89,408 |
Operating lease equipment, net | — |  |  | 723 |  |  | 7,433 |  |  | — |  |  | 8,156 |
| Year Ended December 31, 2021
| General Banking |  | Commercial Banking |  | Rail |  | Corporate |  | Total BancShares
Net interest income (expense) | $ | 1,447 |  |  | $ | 17 |  |  | $ | — |  |  | $ | (74) |  |  | $ | 1,390 |
Benefit for credit losses | (37) |  |  | — |  |  | — |  |  | — |  |  | (37) |
Net interest income (expense) after benefit for credit losses | 1,484 |  |  | 17 |  |  | — |  |  | (74) |  |  | 1,427 |
Noninterest income | 433 |  |  | — |  |  | — |  |  | 75 |  |  | 508 |
Noninterest expense | 1,179 |  |  | 3 |  |  | — |  |  | 52 |  |  | 1,234 |
Income (loss) before income taxes | 738 |  |  | 14 |  |  | — |  |  | (51) |  |  | 701 |
Income tax expense (benefit) | 162 |  |  | 3 |  |  | — |  |  | (11) |  |  | 154 |
Net income (loss) | $ | 576 |  |  | $ | 11 |  |  | $ | — |  |  | $ | (40) |  |  | $ | 547 |
Select Period End Balances |  |  |  |  |  |  |  |  |
Loans and leases | $ | 31,820 |  |  | $ | 552 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,372 |
Deposits | 51,344 |  |  | 62 |  |  | — |  |  | — |  |  | 51,406 |
| Year Ended December 31, 2020
| General Banking |  | Commercial Banking |  | Rail |  | Corporate |  | Total BancShares
Net interest income (expense) | $ | 1,391 |  |  | $ | 15 |  |  | $ | — |  |  | $ | (18) |  |  | $ | 1,388 |
Provision for credit losses | 58 |  |  | — |  |  | — |  |  | — |  |  | 58 |
Net interest income (expense) after provision for credit losses | 1,333 |  |  | 15 |  |  | — |  |  | (18) |  |  | 1,330 |
Noninterest income | 379 |  |  | — |  |  | — |  |  | 98 |  |  | 477 |
Noninterest expense | 1,146 |  |  | 3 |  |  | — |  |  | 40 |  |  | 1,189 |
Income before income taxes | 566 |  |  | 12 |  |  | — |  |  | 40 |  |  | 618 |
Income tax expense | 116 |  |  | 2 |  |  | — |  |  | 8 |  |  | 126 |
Net income | $ | 450 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 32 |  |  | $ | 492 |
Select Period End Balances |  |  |  |  |  |  |  |  |
Loans and leases | $ | 32,235 |  |  | $ | 554 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 32,792 |
Deposits | 43,391 |  |  | 40 |  |  | — |  |  | 1 |  |  | 43,432 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration