Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2022

The following table provides information regarding changes in the total allowance for credit losses during the three months ended March 31, 2022 and 2021.

TABLE 46: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES


	THREE MONTHS ENDED MARCH 31, 2022
(In Millions)	LOANS AND LEASES		UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT		HELD TO MATURITY DEBT SECURITIES		OTHER FINANCIAL ASSETS		TOTAL
Balance at Beginning of Period	$	138.4	$	34.1	$	11.2	$	1.0	$	184.7
Charge-Offs	(0.1)		—		—		—		(0.1)
Recoveries	3.3		—		—		—		3.3
Net Recoveries (Charge-Offs)	3.2		—		—		—		3.2
Provision for Credit Losses(1)	(5.3)		3.4		3.4		0.1		1.6
Balance at End of Period	$	136.3	$	37.5	$	14.6	$	1.1	$	189.5

(1) The table excludes a provision of $0.4 million for the three months ended March 31, 2022 for AFS corporate debt securities. See further detail in Note 4 - Securities.


	THREE MONTHS ENDED MARCH 31, 2021
(In Millions)	LOANS AND LEASES		UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT		HELD TO MATURITY DEBT SECURITIES		OTHER FINANCIAL ASSETS		TOTAL
Balance at Beginning of Period	$	190.7	$	61.1	$	7.3	$	0.8	$	259.9
Charge-Offs	(0.4)		—		—		—		(0.4)
Recoveries	1.3		—		—		—		1.3
Net Recoveries (Charge-Offs)	0.9		—		—		—		0.9
Provision for Credit Losses	(26.2)		(6.0)		1.3		0.9		(30.0)
Balance at End of Period	$	165.4	$	55.1	$	8.6	$	1.7	$	230.8

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 during the three months ended March 31, 2022 and 2021.

TABLE 47: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO LOANS AND LEASES


	THREE MONTHS ENDED MARCH 31, 2022
	LOANS AND LEASES						UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Balance at Beginning of Period	$	105.6	$	32.8	$	138.4	$	31.4	$	2.7	$	34.1
Charge-Offs	—		(0.1)		(0.1)		—		—		—
Recoveries	2.2		1.1		3.3		—		—		—
Net Recoveries (Charge-Offs)	2.2		1.0		3.2		—		—		—
Provision for Credit Losses	(5.3)		—		(5.3)		3.3		0.1		3.4
Balance at End of Period	$	102.5	$	33.8	$	136.3	$	34.7	$	2.8	$	37.5


	THREE MONTHS ENDED MARCH 31, 2021
	LOANS AND LEASES						UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Balance at Beginning of Period	$	142.2	$	48.5	$	190.7	$	57.6	$	3.5	$	61.1
Charge-Offs	—		(0.4)		(0.4)		—		—		—
Recoveries	—		1.3		1.3		—		—		—
Net Recoveries (Charge-Offs)	—		0.9		0.9		—		—		—
Provision for Credit Losses	(17.5)		(8.7)		(26.2)		(5.9)		(0.1)		(6.0)
Balance at End of Period	$	124.7	$	40.7	$	165.4	$	51.7	$	3.4	$	55.1

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 March 31, 2022 and December 31, 2021.

TABLE 48: RECORDED INVESTMENTS IN LOANS AND LEASES


	MARCH 31, 2022						DECEMBER 31, 2021
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Loans and Leases
Evaluated on an Individual Basis	$	76.4	$	61.5	$	137.9	$	92.1	$	74.5	$	166.6
Evaluated on a Collective Basis	19,148.3		19,952.9		39,101.2		18,395.3		21,918.7		40,314.0
Total Loans and Leases	19,224.7		20,014.4		39,239.1		18,487.4		21,993.2		40,480.6
Allowance for Credit Losses on Loans and Leases
Evaluated on an Individual Basis	16.9		—		16.9		10.1		—		10.1
Evaluated on a Collective Basis	85.6		33.8		119.4		95.5		32.8		128.3
Allowance Assigned to Loans and Leases	102.5		33.8		136.3		105.6		32.8		138.4
Allowance for Undrawn Loan Commitments and Standby Letters of Credit
Evaluated on an Individual Basis	—		—		—		—		—		—
Evaluated on a Collective Basis	34.7		2.8		37.5		31.4		2.7		34.1
Allowance Assigned to Undrawn Loan Commitments and Standby Letters of Credit	34.7		2.8		37.5		31.4		2.7		34.1
Total Allowance Assigned to Loans and Leases and Undrawn Loan Commitments and Standby Letters of Credit	$	137.2	$	36.6	$	173.8	$	137.0	$	35.5	$	172.5

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

The following table provides information regarding changes in the total allowance for credit losses for HTM debt securities during the three months ended March 31, 2022 and 2021.

TABLE 49: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO HELD TO MATURITY DEBT SECURITIES


	THREE MONTHS ENDED MARCH 31, 2022
(In Millions)	CORPORATE DEBT		NON-U.S. GOVERNMENT		SUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS		COVERED BONDS		OTHER		TOTAL
Balance at Beginning of Period	$	1.4	$	1.9	$	3.0	$	0.1	$	4.8	$	11.2
Provision for Credit Losses	0.2		1.5		1.6		—		0.1		3.4
Balance at End of Period	$	1.6	$	3.4	$	4.6	$	0.1	$	4.9	$	14.6


	THREE MONTHS ENDED MARCH 31, 2021
(In Millions)	CORPORATE DEBT		NON-U.S. GOVERNMENT		SUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS		COVERED BONDS		OTHER		TOTAL
Balance at Beginning of Period	$	0.8	$	0.2	$	1.2	$	0.1	$	5.0	$	7.3
Provision for Credit Losses	0.3		0.7		0.6		—		(0.3)		1.3
Balance at End of Period	$	1.1	$	0.9	$	1.8	$	0.1	$	4.7	$	8.6

Schedule of Accrued Liabilities

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

TABLE 50: ACCRUED INTEREST


(In Millions)	MARCH 31, 2022		DECEMBER 31, 2021
Loans and Leases	$	67.3	$	62.6
Debt Securities
Held to Maturity	33.5		30.4
Available for Sale	123.7		129.7
Other Financial Assets	6.1		2.3
Total	$	230.6	$	225.0