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v3.24.3

Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Selected segment information | Information about the Corporation’s segments is presented below:
| Corporate and Commercial Specialty
| Three Months Ended Sep 30, | Nine Months Ended Sep 30,
($ in thousands) | 2024 | 2023 | 2024 | 2023
Net interest income | $ | 254,935 |  | $ | 250,365 |  | $ | 749,062 |  | $ | 710,031 |
Net intersegment interest (expense) | (98,898) |  | (106,675) |  | (291,872) |  | (288,366) |
Segment net interest income | 156,037 |  | 143,690 |  | 457,190 |  | 421,665 |
Noninterest income | 37,017 |  | 34,086 |  | 106,570 |  | 99,254 |
Total revenue | 193,054 |  | 177,776 |  | 563,761 |  | 520,919 |
Provision for credit losses | 17,009 |  | 14,066 |  | 48,930 |  | 41,523 |
Noninterest expense | 65,415 |  | 63,265 |  | 197,159 |  | 186,521 |
Income before income taxes | 110,630 |  | 100,445 |  | 317,672 |  | 292,876 |
Income tax expense | 20,999 |  | 19,293 |  | 59,845 |  | 54,104 |
Net income | $ | 89,630 |  | $ | 81,152 |  | $ | 257,827 |  | $ | 238,772 |
Allocated goodwill |  |  | $ | 525,836 |  | $ | 525,836 |
| Community, Consumer, and Business
| Three Months Ended Sep 30, | Nine Months Ended Sep 30,
($ in thousands) | 2024 | 2023 | 2024 | 2023
Net interest income | $ | 56,574 |  | $ | 67,139 |  | $ | 172,575 |  | $ | 219,883 |
Net intersegment interest income | 135,862 |  | 123,900 |  | 401,353 |  | 317,820 |
Segment net interest income | 192,436 |  | 191,039 |  | 573,928 |  | 537,703 |
Noninterest income | 26,009 |  | 29,670 |  | 75,921 |  | 85,870 |
Total revenue | 218,445 |  | 220,709 |  | 649,848 |  | 623,573 |
Provision for credit losses | 5,195 |  | 7,381 |  | 17,611 |  | 21,467 |
Noninterest expense | 115,656 |  | 108,127 |  | 333,711 |  | 328,790 |
Income before income taxes | 97,594 |  | 105,202 |  | 298,526 |  | 273,316 |
Income tax expense | 20,495 |  | 22,092 |  | 62,691 |  | 57,396 |
Net income | $ | 77,099 |  | $ | 83,109 |  | $ | 235,835 |  | $ | 215,920 |
Allocated goodwill |  |  | $ | 579,156 |  | $ | 579,156 |
| Risk Management and Shared Services
| Three Months Ended Sep 30, | Nine Months Ended Sep 30,
($ in thousands) | 2024 | 2023 | 2024 | 2023
Net interest (loss) | $ | (49,001) |  | $ | (63,260) |  | $ | (144,677) |  | $ | (143,743) |
Net intersegment interest (expense) | (36,964) |  | (17,225) |  | (109,481) |  | (29,454) |
Segment net interest (loss) | (85,964) |  | (80,485) |  | (254,158) |  | (173,197) |
Noninterest income | 4,196 |  | 2,823 |  | 14,874 |  | 9,071 |
Total revenue | (81,768) |  | (77,663) |  | (239,284) |  | (164,126) |
Provision for credit losses | (1,213) |  | 496 |  | 1,459 |  | (975) |
Noninterest expense | 19,526 |  | 24,814 |  | 63,245 |  | 58,980 |
(Loss) before income taxes | (100,081) |  | (102,972) |  | (303,988) |  | (222,131) |
Income tax (benefit) | (21,370) |  | (21,959) |  | (95,085) |  | (41,202) |
Net (loss) | $ | (78,711) |  | $ | (81,013) |  | $ | (208,902) |  | $ | (180,929) |
Allocated goodwill |  |  | $ | — |  | $ | — |
| Consolidated Total
| Three Months Ended Sep 30, | Nine Months Ended Sep 30,
($ in thousands) | 2024 | 2023 | 2024 | 2023
Net interest income | $ | 262,509 |  | $ | 254,244 |  | $ | 776,960 |  | $ | 786,171 |
Net intersegment interest income | — |  | — |  | — |  | — |
Segment net interest income | 262,509 |  | 254,244 |  | 776,960 |  | 786,171 |
Noninterest income | 67,221 |  | 66,579 |  | 197,365 |  | 194,195 |
Total revenue | 329,730 |  | 320,823 |  | 974,325 |  | 980,366 |
Provision for credit losses | 20,991 |  | 21,943 |  | 68,000 |  | 62,014 |
Noninterest expense | 200,597 |  | 196,205 |  | 594,115 |  | 574,291 |
Income before income taxes | 108,142 |  | 102,674 |  | 312,211 |  | 344,061 |
Income tax expense | 20,124 |  | 19,426 |  | 27,451 |  | 70,299 |
Net income | $ | 88,018 |  | $ | 83,248 |  | $ | 284,760 |  | $ | 273,762 |
Allocated goodwill |  |  | $ | 1,104,992 |  | $ | 1,104,992 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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