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Business Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Business Segment Information BUSINESS SEGMENT INFORMATION
As of December 31, 2021, BancShares managed its business and reported its financial results as a single segment. BancShares began reporting multiple segments during the first quarter of 2022. BancShares now has three operating segments: General Banking, Commercial Banking, and Rail, and a non-operating segment, Corporate. BancShares conformed the comparative prior periods presented to reflect the new segments. The substantial majority of BancShares’ operations for historical periods prior to completion of the CIT Merger are included in the General Banking segment. The Commercial Banking and Rail segments primarily relate to operations acquired in the CIT Merger. BancShares' reportable segments are primarily based upon industry categories, target markets, distribution channels and customers served, and, to a lesser extent, the core competencies relating to product origination, operations and servicing and the nature of their regulatory environment. Segment reporting is reflective of BancShares' internal reporting structure and is consistent with the presentation of financial information to the chief operating decision maker. Each of the segments are described below.

General Banking
General Banking delivers services to individuals and businesses through an extensive branch network, digital banking, telephone banking and various ATM networks, including a full suite of deposit products, loans (primarily residential mortgages and commercial loans), and various fee-based services. General Banking also provides: a variety of wealth management products and services to individuals and institutional clients, including brokerage, investment advisory, and trust services; and deposit, cash management and lending to homeowner associations (“HOA”) and property management companies. As part of the CIT Merger, Community Association Banking (“CAB”) products were added that will drive the associated HOA deposit channel. Revenue is primarily generated from interest earned on residential mortgages, small business loans and fees for banking services.

Commercial Banking
Commercial Banking provides lending, leasing and other financial and advisory services, primarily to small and middle-market companies across select industries. Commercial Banking also provides asset-based lending, factoring, receivables management products and supply chain financing. Revenue is primarily generated from interest earned on loans, rents on equipment leased, fees and other revenue from lending and leasing activities and banking services, along with capital markets transactions and commissions earned on factoring and related activities.

Rail
Rail offers customized leasing and financing solutions on a fleet of railcars and locomotives to railroads and shippers throughout North America. Railcar types include covered hopper cars used to ship grain and agricultural products, plastic pellets, sand, and cement; tank cars for energy products and chemicals; gondolas for coal, steel coil and mill service products; open hopper cars for coal and aggregates; boxcars for paper and auto parts, and center beams and flat cars for lumber. Revenue is primarily from operating lease income.

Corporate
Certain items that are not allocated to operating segments are included in the Corporate segment. Some of the more significant and recurring items include interest income on investment securities, a portion of interest expense primarily related to corporate funding costs (including brokered deposits), income on BOLI (other noninterest income), merger-related costs, as well as certain unallocated costs and intangible asset amortization expense (operating expenses). Corporate also includes certain significant items that are infrequent, such as: the Initial Non-PCD Provision for loans and leases and unfunded commitments; and the preliminary gain on acquisition, each of which are related to the CIT Merger.
Segment Profit (Loss) and Select Period End Balances

The following table presents the condensed income statement by segment.
Three Months Ended June 30, 2022
dollars in millionsGeneral BankingCommercial BankingRailCorporateTotal BancShares
Net interest income$467 $204 $(18)$47 $700 
Provision for credit losses7 35 — — 42 
Net interest income after provision for credit losses460 169 (18)47 658 
Noninterest income125 130 160 9 424 
Noninterest expenses390 180 111 64 745 
Income (loss) before income taxes195 119 31 (8)337 
Income tax expense40 24 7 11 82 
Net income (loss)$155 $95 $24 $(19)$255 
Select Period End Balances
Loans and leases$40,444 $27,220 $71 $— $67,735 
Deposits83,535 4,449 11 1,334 89,329 
Operating lease equipment, net— 724 7,247 — 7,971 
Three Months Ended June 30, 2021
dollars in millions General BankingCommercial BankingRailCorporateTotal BancShares
Net interest income$363 $4 $— $(21)$346 
Benefit for credit losses(21)1 — — (20)
Net interest income (loss) after benefit for credit losses384 3 — (21)366 
Noninterest income104 — — 29 133 
Noninterest expenses289 1 — 10 300 
Income before income taxes199 2 — (2)199 
Income tax expense46 — — — 46 
Net income $153 $2 $— $(2)$153 
Select Period End Balances
Loans and leases$32,033 $657 $— $— $32,690 
Deposits48,344 66 — 1 48,411 
Operating lease equipment, net— — — — — 

Six Months Ended June 30, 2022
dollars in millionsGeneral BankingCommercial BankingRailCorporateTotal BancShares
Net interest income$904 $411 $(37)$71 $1,349 
(Benefit) provision for credit losses(8)1 — 513 506 
Net interest income after provision for credit losses912 410 (37)(442)843 
Noninterest income248 242 322 462 1,274 
Noninterest expenses799 371 211 174 1,555 
Income (loss) before income taxes361 281 74 (154)562 
Income tax expense (benefit)80 65 18 (127)36 
Net income (loss)$281 $216 $56 $(27)$526 
Six Months Ended June 30, 2021
dollars in millionsGeneral BankingCommercial BankingRailCorporateTotal BancShares
Net interest income$707 $8 $— $(29)$686 
(Benefit) provision for credit losses(32)1 — — (31)
Net interest income (loss) after benefit for credit losses739 7 — (29)717 
Noninterest income214 — — 56 270 
Noninterest expenses579 2 — 16 597 
Income before income taxes374 5 — 11 390 
Income tax expense86 1 — 3 90 
Net income$288 $4 $— $8 $300