Allowance For Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

The following tables present a summary, by loan portfolio segment, of activity in the ACL for the three months ended March 31, 2020 and 2019:


Three months ended
March 31, 2020 (in millions)	Commercial		Retail		Total
Balance at beginning of period, prior to adoption of CECL	$	217.9	$	28.7	$	246.6
CECL transition adjustment	(17.3)		89.5		72.2
Charge-offs	(9.7)		(2.9)		(12.6)
Recoveries	1.4		0.6		2.0
Net loan charge-offs	(8.3)		(2.3)		(10.6)
Provision for credit losses	19.5		14.0		33.5
Balance at end of period	$	211.8	$	129.9	$	341.7










Three months ended
March 31, 2019 (in millions)	Commercial		Retail		Total
Balance at beginning of period	$	209.5	$	30.9	$	240.4
Charge-offs	(6.4)		(1.1)		(7.5)
Recoveries	1.4		1.0		2.4
Net loan charge-offs	(5.0)		(0.1)		(5.1)
Provision for credit losses	4.5		1.1		5.6
Balance at end of period	$	209.0	$	31.9	$	240.9

The following table summarizes the changes in the ACL on off-balance sheet credit exposures:


(in millions)	Three Months Ended March 31, 2020
Balance at beginning of the period	$	5.6
CECL transition adjustment	14.5
Balance at beginning of period, adjusted	20.1
Provision charged (credited) to income	0.6
Balance at end of period	$	20.7