XML 59 R35.htm IDEA: XBRL DOCUMENT v3.3.0.814
BUSINESS SEGMENTS (Tables)
 9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
Operating results and key financial measures for operating segments
The following tables present the operating results and other key financial measures for the individual operating segments for the three and nine months ended September 30, 2015 and 2014:
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2015
($ in thousands)
 
Retail Banking
 
Commercial Banking
 
Other
 
Total
Interest income
 
$
81,911

 
$
166,693

 
$
16,028

 
$
264,632

Charge for funds used
 
(20,795
)
 
(41,447
)
 
(20,485
)
 
(82,727
)
Interest spread on funds used
 
61,116

 
125,246

 
(4,457
)
 
181,905

Interest expense
 
(13,727
)
 
(4,765
)
 
(5,851
)
 
(24,343
)
Credit on funds provided
 
68,783

 
8,849

 
5,095

 
82,727

Interest spread on funds provided
 
55,056

 
4,084

 
(756
)
 
58,384

Net interest income (loss)
 
$
116,172

 
$
129,330

 
$
(5,213
)
 
$
240,289

Provision for credit losses
 
$
1,455

 
$
6,281

 
$
—

 
$
7,736

Depreciation, amortization and accretion (1)
 
$
1,827

 
$
(13,496
)
 
$
18,765

 
$
7,096

Goodwill
 
$
357,207

 
$
112,226

 
$
—

 
$
469,433

Segment pre-tax profit (loss)
 
$
52,325

 
$
96,605

 
$
(9,941
)
 
$
138,989

Segment assets
 
$
7,274,494

 
$
17,125,065

 
$
6,720,117

 
$
31,119,676

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2014
($ in thousands)
 
Retail Banking
 
Commercial Banking
 
Other
 
Total
Interest income
 
$
95,911

 
$
175,032

 
$
15,005

 
$
285,948

Charge for funds used
 
(24,738
)
 
(35,809
)
 
(15,265
)
 
(75,812
)
Interest spread on funds used
 
71,173

 
139,223

 
(260
)
 
210,136

Interest expense
 
(12,057
)
 
(4,692
)
 
(12,225
)
 
(28,974
)
Credit on funds provided
 
60,770

 
9,908

 
5,134

 
75,812

Interest spread on funds provided
 
48,713

 
5,216

 
(7,091
)
 
46,838

Net interest income (loss)
 
$
119,886

 
$
144,439

 
$
(7,351
)
 
$
256,974

Provision for credit losses
 
$
394

 
$
14,831

 
$
—

 
$
15,225

Depreciation, amortization and accretion (1) (2)
 
$
4,806

 
$
(412
)
 
$
34,499

 
$
38,893

Goodwill
 
$
354,163

 
$
104,304

 
$
—

 
$
458,467

Segment pre-tax profit (loss) (2)
 
$
45,163

 
$
49,364

 
$
(9,228
)
 
$
85,299

Segment assets (2)
 
$
7,775,343

 
$
14,879,699

 
$
5,829,127

 
$
28,484,169

 
 
 
 
 
 
 
 
 

(1)
Includes amortization and accretion related to the FDIC indemnification asset.
(2)
Prior periods were restated to reflect the retrospective application of adopting the new accounting guidance related to the Company’s investments in qualified affordable housing projects ASU 2014-01. See Note 10 — Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net to the Consolidated Financial Statements for additional information.
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2015
($ in thousands)
 
Retail Banking
 
Commercial Banking
 
Other
 
Total
Interest income
 
$
252,085

 
$
482,816

 
$
48,437

 
$
783,338

Charge for funds used
 
(65,452
)
 
(117,125
)
 
(43,653
)
 
(226,230
)
Interest spread on funds used
 
186,633

 
365,691

 
4,784

 
557,108

Interest expense
 
(38,946
)
 
(13,738
)
 
(27,156
)
 
(79,840
)
Credit on funds provided
 
187,401

 
24,859

 
13,970

 
226,230

Interest spread on funds provided
 
148,455

 
11,121

 
(13,186
)
 
146,390

Net interest income (loss)
 
$
335,088

 
$
376,812

 
$
(8,402
)
 
$
703,498

(Reversal of) provision for credit losses
 
$
(1,268
)
 
$
17,485

 
$
—

 
$
16,217

Depreciation, amortization and accretion (1)
 
$
6,743

 
$
(30,027
)
 
$
40,625

 
$
17,341

Goodwill
 
$
357,207

 
$
112,226

 
$
—

 
$
469,433

Segment pre-tax profit (loss)
 
$
160,609

 
$
287,049

 
$
(17,422
)
 
$
430,236

Segment assets
 
$
7,274,494

 
$
17,125,065

 
$
6,720,117

 
$
31,119,676

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2014
($ in thousands)
 
Retail Banking
 
Commercial Banking
 
Other
 
Total
Interest income
 
$
294,428

 
$
525,987

 
$
46,148

 
$
866,563

Charge for funds used
 
(72,888
)
 
(101,907
)
 
(29,578
)
 
(204,373
)
Interest spread on funds used
 
221,540

 
424,080

 
16,570

 
662,190

Interest expense
 
(35,718
)
 
(11,393
)
 
(38,062
)
 
(85,173
)
Credit on funds provided
 
163,102

 
27,328

 
13,943

 
204,373

Interest spread on funds provided
 
127,384

 
15,935

 
(24,119
)
 
119,200

Net interest income (loss)
 
$
348,924

 
$
440,015

 
$
(7,549
)
 
$
781,390

Provision for credit losses
 
$
2,606

 
$
27,552

 
$
—

 
$
30,158

Depreciation, amortization and accretion (1) (2)
 
$
11,473

 
$
(5,026
)
 
$
56,467

 
$
62,914

Goodwill
 
$
354,163

 
$
104,304

 
$
—

 
$
458,467

Segment pre-tax profit (loss) (2)
 
$
138,518

 
$
204,134

 
$
(18,224
)
 
$
324,428

Segment assets (2)
 
$
7,775,343

 
$
14,879,699

 
$
5,829,127

 
$
28,484,169

 
 
 
 
 
 
 
 
 
(1)
Includes amortization and accretion related to the FDIC indemnification asset.
(2)
Prior periods were restated to reflect the retrospective application of adopting the new accounting guidance related to the Company’s investments in qualified affordable housing projects ASU 2014-01. See Note 10 — Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net to the Consolidated Financial Statements for additional information.