XML 36 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Event
6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent Event

17. Subsequent Event

 

On July 21, 2020, the Company closed the sale of $497 million of energy-related loans, substantially all of which were part of its commercial non-real estate portfolio, for $254.4 million, net of selling costs. As such, on June 30, 2020, the Company recorded a provision for credit losses of $160.1 million to write the loans down to observable market price less cost to sell, consisting of a charge-off of $242.6 million and a release of $82.5 million of existing credit loss reserves. As of June 30, 2020, the remaining carrying balance of $254.4 million is classified in loans held for sale on the consolidated balance sheet.