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Segments
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segments Segments
The Company segregates financial information for use in assessing its performance and allocating resources among three operating segments: Consumer, Commercial and Wealth. The Consumer segment consists of various consumer loan and deposit products offered through its retail branch network of approximately 140 locations.  This segment also includes indirect and other consumer loan financing businesses, along with debit and credit card loan and fee businesses.  The Commercial segment provides corporate lending (including the Small Business Banking product line within the branch network), leasing, and international services, along with business and governmental deposit products and commercial cash management services.  This segment also includes both merchant and commercial bank card products as well as the Capital Markets Group, which sells fixed income securities and provides securities safekeeping and accounting services to its business and correspondent bank customers.  The Wealth segment provides traditional trust and estate planning, advisory and discretionary investment management, and brokerage services.  This segment also provides various loan and deposit related services to its private banking customers.
The following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues between the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these changes are reflected in prior year information presented below. Net interest income allocated among the segments prior to 2024 has been restated to reflect a funds transfer pricing methodology change implemented on January 1, 2024 for all deposit types, except certificates of deposit. The new methodology moves from a rolling pool to a profitability range methodology. The new methodology more accurately reflects the profitability of affected deposits relative to current rates and removes most interest rate risk from business segments.


(In thousands)
ConsumerCommercialWealthOther/EliminationConsolidated Totals
Three Months Ended March 31, 2024
Net interest income$129,676 $126,687 $24,155 $(31,519)$248,999 
Provision for credit losses(8,888)(41)1 4,141 (4,787)
Non-interest income24,335 63,802 58,399 2,312 148,848 
Investment securities gains (losses), net— — — (259)(259)
Non-interest expense(80,644)(100,356)(39,551)(25,146)(245,697)
Income before income taxes$64,479 $90,092 $43,004 $(50,471)$147,104 
Three Months Ended March 31, 2023
Net interest income$144,460 $137,127 $28,025 $(57,989)$251,623 
Provision for loan losses(6,306)(393)(13)(4,744)(11,456)
Non-interest income24,303 58,324 52,944 2,041 137,612 
Investment securities gains (losses), net— — — (306)(306)
Non-interest expense(77,370)(93,685)(39,585)(13,467)(224,107)
Income before income taxes$85,087 $101,373 $41,371 $(74,465)$153,366 

The information presented above was derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. This information is based on internal management accounting procedures and methods, which have been developed to reflect the underlying economics of the businesses. The methodologies are applied in connection with funds transfer pricing and assignment of overhead costs among segments. Funds transfer pricing was used in the determination of net interest income by assigning a standard cost (credit) for funds used (provided by) assets and liabilities based on their maturity, prepayment and/or repricing characteristics.

The segment activity, as shown above, includes both direct and allocated items. Amounts in the “Other/Elimination” column include activity not related to the segments, such as that relating to administrative functions, the investment securities portfolio, and the effect of certain expense allocations to the segments. The provision for credit losses in this category contains the difference between net loan charge-offs assigned directly to the segments and the recorded provision for credit loss expense. Included in this category’s net interest income are earnings of the investment portfolio, which are not allocated to a segment.

The performance measurement of the operating segments is based on the management structure of the Company and is not necessarily comparable with similar information for any other financial institution. The information is also not necessarily indicative of the segments' financial condition and results of operations if they were independent entities.