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Loans and Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
Schedule of Loans and Leases
Loans and leases were as follows:
At December 31,
(In thousands)20202019
Commercial loan and lease portfolio:
Commercial and industrial(1)
$11,422,383 $11,439,602 
Commercial real estate9,702,587 9,136,870 
Lease financing2,817,231 2,699,869 
Total commercial loan and lease portfolio23,942,201 23,276,341 
Consumer loan portfolio:  
Residential mortgage6,182,045 6,179,805 
Home equity3,108,736 3,498,907 
Consumer installment1,233,426 1,542,411 
Total consumer loan portfolio10,524,207 11,221,123 
Total loans and leases(2)
$34,466,408 $34,497,464 
(1)Includes $1.6 billion of PPP loans at December 31, 2020.
(2)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 $(118.6) million and $(201.5) million at December 31, 2020 and 2019, respectively.
Schedule of Components of Total Lease Income The components of the net investment in direct financing and sales-type leases were as follows:
At December 31,
(In thousands)20202019
Carrying amount$2,893,070 $2,794,212 
Unguaranteed residual assets170,930 152,030 
Net direct fees and costs and unearned income(246,769)(246,373)
Total net investment in direct financing and sales-type leases$2,817,231 $2,699,869 
Schedule of Components of Total Lease Income
The components of total lease income were as follows:
Year Ended December 31,
(In thousands)20202019
Interest and fees on loans and leases (Interest income):
Interest income on net investment in direct financing and sales-type leases$133,272 $131,547 
Leasing revenue (Noninterest income):
Lease income from operating lease payments95,530 100,975 
Profit (loss) recorded on commencement date on sales-type21,556 35,694 
Gain (losses) on sales of leased equipment25,637 27,049 
Leasing revenue142,723 163,718 
Total lease income$275,995 $295,265 
Undiscounted Future Minimum Lease Payments Receivable for Direct Financing and Sales-type Leases
Undiscounted future minimum lease payments receivable for direct financing and sales-type leases, and a reconciliation to the carrying amount recorded at December 31, 2020 were as follows:
(In thousands)
2021$288,066 
2022408,137 
2023549,555 
2024589,430 
2025511,514 
Thereafter311,070 
Equipment under leases not yet commenced30,782 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases2,688,554 
Third-party residual value guarantees204,516 
Total carrying amount of direct financing and sales-type leases$2,893,070 
Undiscounted Future Minimum Lease Payments Expected to be Received for Operating Leases
Undiscounted future minimum lease payments expected to be received for operating leases at December 31, 2020 were as follows:
(In thousands)
2021$75,689 
202254,222 
202333,560 
202415,660 
20255,042 
Thereafter1,957 
Total undiscounted future minimum lease payments$186,130 
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 11. Loan Servicing Rights" for further information.
Year Ended December 31,
(In thousands)202020192018
Sale proceeds, net$2,556,022 $2,951,445 $1,275,960 
Recorded investment in loans and leases sold, including accrued interest2,446,969 2,888,408 1,238,018 
Changes in fair value of loans held-for-sale and related derivative instruments, capitalized servicing and other(22,277)(36,729)(4,247)
Net gains on sales of loans and leases$86,776 $26,308 $33,695 
Interest-only Strips
The remaining interest-only strips on the balance sheet related to loan sales were as follows:
At December 31,
(In thousands)20202019
Interest-only strips$7,823 $12,813