Loans and Leases (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Schedule of Loans and Leases

Loans and leases were as follows:

(In thousands)	At September 30, 2020		At December 31, 2019
Commercial loan and lease portfolio:
Commercial and industrial	$	11,557,237	$	11,439,602
Commercial real estate	9,627,330		9,136,870
Lease financing	2,724,686		2,699,869
Total commercial loan and lease portfolio	23,909,253		23,276,341
Consumer loan portfolio:
Residential mortgage	5,790,251		6,179,805
Home equity	3,302,983		3,498,907
Consumer installment	1,341,204		1,542,411
Total consumer loan portfolio	10,434,438		11,221,123
Total loans and leases(1)	$	34,343,691	$	34,497,464

(1)

Loans and leases are reported at historical cost including net direct fees and costs associated with originating and acquiring loans and leases, lease residuals, unearned income and unamortized purchase premiums and discounts. The aggregate amount of these loan and lease adjustments was $(174.2) million and $(201.5) million at September 30, 2020 and December 31, 2019, respectively.

Schedule of Components of Total Lease Income

The components of total lease income were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2020		2019		2020		2019
Interest income - loans and leases:
Interest income on net investment in direct financing and sales-type leases	$	32,696	$	32,833	$	100,655	$	98,116
Leasing revenue (noninterest income):
Lease income from operating lease payments	23,542		25,492		71,243		76,388
Profit recorded on commencement date on sales-type leases	4,503		7,983		13,690		22,289
Gains on sales of leased equipment	3,860		6,115		17,709		18,355
Leasing revenue	31,905		39,590		102,642		117,032
Total lease income	$	64,601	$	72,423	$	203,297	$	215,148

Schedule of Components of Total Lease Income

The components of total lease income were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2020		2019		2020		2019
Interest income - loans and leases:
Interest income on net investment in direct financing and sales-type leases	$	32,696	$	32,833	$	100,655	$	98,116
Leasing revenue (noninterest income):
Lease income from operating lease payments	23,542		25,492		71,243		76,388
Profit recorded on commencement date on sales-type leases	4,503		7,983		13,690		22,289
Gains on sales of leased equipment	3,860		6,115		17,709		18,355
Leasing revenue	31,905		39,590		102,642		117,032
Total lease income	$	64,601	$	72,423	$	203,297	$	215,148

Summary of Net Gains On Sales of Loans

The following table summarizes the net gains on sales of loans and leases. The Corporation retains servicing on a majority of loans sold. See "Note 10. Loan Servicing Rights" for further information.

	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)	2020			2019			2020			2019
Sale proceeds, net	$	667,807		$	472,800		$	1,802,193		$	1,066,576
Recorded investment in loans and leases sold, including accrued interest	635,149			458,697			1,727,687			1,033,961
Other	(9,168		)	(20,087		)	(1,392		)	(19,241		)
Net gains on sales of loans and leases	$	23,490		$	(5,984	)	$	73,114		$	13,374

Interest-only Strips

The interest-only strips on the balance sheet related to loan sales were as follows:

(In thousands)	At September 30, 2020		At December 31, 2019
Interest-only strips	$	9,555	$	12,813