Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2020

Allowances for Credit Losses and Recorded Investments in Loans and Leases by Segment

The following table provides information regarding changes in the total allowance for credit losses.

TABLE 77: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES


	2020
(In Millions)	LOANS AND LEASES		UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT		DEBT SECURITIES HELD TO MATURITY		OTHER FINANCIAL ASSETS		TOTAL
Balance at End of Prior Period	$	104.5	$	19.9	$	—	$	—	$	124.4
Cumulative Effect Adjustment	(2.2)		8.9		6.6		0.4		13.7
Balance at Beginning of Period	102.3		28.8		6.6		0.4		138.1
Charge-Offs	(9.7)		—		—		—		(9.7)
Recoveries	6.5		—		—		—		6.5
Net Recoveries (Charge-Offs)	(3.2)		—		—		—		(3.2)
Provision for Credit Losses	91.6		32.3		0.7		0.4		125.0
Balance at End of Period	$	190.7	$	61.1	$	7.3	$	0.8	$	259.9


	2019
(In Millions)	LOANS AND LEASES		UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT		TOTAL
Balance at Beginning of Period	$	112.6	$	25.6	$	138.2
Charge-Offs	(6.5)		—		(6.5)
Recoveries	7.2		—		7.2
Net Recoveries (Charge-Offs)	0.7		—		0.7
Provision for Credit Losses	(8.8)		(5.7)		(14.5)
Balance at End of Period	$	104.5	$	19.9	$	124.4


	2018
(In Millions)	LOANS AND LEASES		UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT		TOTAL
Balance at Beginning of Period	$	131.2	$	22.6	$	153.8
Charge-Offs	(10.1)		—		(10.1)
Recoveries	9.0		—		9.0
Net Recoveries (Charge-Offs)	(1.1)		—		(1.1)
Provision for Credit Losses	(17.5)		3.0		(14.5)
Balance at End of Period	$	112.6	$	25.6	$	138.2

The following table provides information regarding changes in the total allowance for credit losses, including undrawn loan commitments and standby letters of credit, by segment.

TABLE 78: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO LOANS AND LEASES


	2020
	LOANS AND LEASES						UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Balance at End of Prior Period	$	58.1	$	46.4	$	104.5	$	15.8	$	4.1	$	19.9
Cumulative Effect Adjustment	(5.9)		3.7		(2.2)		11.9		(3.0)		8.9
Balance at Beginning of Period	52.2		50.1		102.3		27.7		1.1		28.8
Charge-Offs	(6.3)		(3.4)		(9.7)		—		—		—
Recoveries	2.4		4.1		6.5		—		—		—
Net Recoveries (Charge-Offs)	(3.9)		0.7		(3.2)		—		—		—
Provision for Credit Losses	93.9		(2.3)		91.6		29.9		2.4		32.3
Balance at End of Period	$	142.2	$	48.5	$	190.7	$	57.6	$	3.5	$	61.1


	2019
	LOANS AND LEASES						UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Balance at Beginning of Period	$	57.6	$	55.0	$	112.6	$	21.1	$	4.5	$	25.6
Charge-Offs	(3.0)		(3.5)		(6.5)		—		—		—
Recoveries	0.9		6.3		7.2		—		—		—
Net Recoveries (Charge-Offs)	(2.1)		2.8		0.7		—		—		—
Provision for Credit Losses	2.6		(11.4)		(8.8)		(5.3)		(0.4)		(5.7)
Balance at End of Period	$	58.1	$	46.4	$	104.5	$	15.8	$	4.1	$	19.9


	2018
	LOANS AND LEASES						UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Balance at Beginning of Period	$	63.5	$	67.7	$	131.2	$	17.3	$	5.3	$	22.6
Charge-Offs	(0.9)		(9.2)		(10.1)		—		—		—
Recoveries	1.7		7.3		9.0		—		—		—
Net Recoveries (Charge-Offs)	0.8		(1.9)		(1.1)		—		—		—
Provision for Credit Losses	(6.7)		(10.8)		(17.5)		3.8		(0.8)		3.0
Balance at End of Period	$	57.6	$	55.0	$	112.6	$	21.1	$	4.5	$	25.6

The following table provides information regarding the recorded investments in loans and leases and the allowance for credit losses for loans and leases and undrawn loan commitments and standby letters of credit by segment as of December 31, 2020 and 2019.

TABLE 79: RECORDED INVESTMENTS IN LOANS AND LEASES


	DECEMBER 31, 2020						DECEMBER 31, 2019
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Loans and Leases
Evaluated on an Individual Basis	$	66.6	$	65.1	$	131.7	$	10.4	$	81.8	$	92.2
Evaluated on a Collective Basis	15,195.4		18,432.6		33,628.0		13,990.9		17,326.5		31,317.4
Total Loans and Leases	15,262.0		18,497.7		33,759.7		14,001.3		17,408.3		31,409.6
Allowance for Credit Losses on Credit Exposures
Evaluated on an Individual Basis	8.8		0.3		9.1		3.4		1.6		5.0
Evaluated on a Collective Basis	133.4		48.2		181.6		54.7		44.8		99.5
Allowance Assigned to Loans and Leases	142.2		48.5		190.7		58.1		46.4		104.5
Allowance for Undrawn Loan Commitments and Standby Letters of Credit
Evaluated on an Individual Basis	1.6		—		1.6		1.9		—		1.9
Evaluated on a Collective Basis	56.0		3.5		59.5		13.9		4.1		18.0
Allowance Assigned to Undrawn Loan Commitments and Standby Letters of Credit	57.6		3.5		61.1		15.8		4.1		19.9
Total Allowance Assigned to Loans and Leases and Undrawn Loan Commitments and Standby Letters of Credit	$	199.8	$	52.0	$	251.8	$	73.9	$	50.5	$	124.4

Debt Securities, Held-to-maturity, Allowance for Credit Loss

The following table provides information regarding changes in the total allowance for credit losses for debt securities held to maturity during 2020.

TABLE 80: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO DEBT SECURITIES HELD TO MATURITY


	2020
(In Millions)	CORPORATE DEBT		NON-U.S. GOVERNMENT		SUB-SOVEREIGN, SUPERNATIONAL, AND NON-U.S. AGENCY BONDS		COVERED BONDS		OTHER		TOTAL
Balance at End of Prior Period	$	—	$	—	$	—	$	—	$	—	$	—
Cumulative Effect Adjustment	0.8		0.3		0.9		—		4.6		6.6
Balance at Beginning of Period	0.8		0.3		0.9		—		4.6		6.6
Provision for Credit Losses	—		(0.1)		0.3		0.1		0.4		0.7
Balance at End of Period	$	0.8	$	0.2	$	1.2	$	0.1	$	5.0	$	7.3

Schedule of Accrued Interest

The following table provides the amount of accrued interest excluded from the amortized cost basis of the following portfolios.

TABLE 81: ACCRUED INTEREST


(In Millions)	DECEMBER 31, 2020		DECEMBER 31, 2019
Loans and Leases	$	55.3	$	84.5
Debt Securities
Held to Maturity	$	73.8	$	82.3
Available for Sale	106.3		119.0
Other Financial Assets	$	1.4	$	14.7