Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Outstanding Financial Instruments Contract Amounts Represent Credit Risk

The following table summarizes the outstanding amounts of credit-related financial instruments with off-balance sheet risk:

(In thousands)	At June 30, 2022		At December 31, 2021
Commitments to extend credit	$	10,388,769	$	6,870,095
Standby letters of credit	381,772		224,061
Commercial letters of credit	66,938		58,175
Total credit-related financial instruments with off-balance sheet risk	$	10,837,479	$	7,152,331

Activity In Allowance For Losses

The following table summarizes the change in the ACL on loans and leases by portfolio segment:

	At or for the three months ended June 30,
	2022						2021
(In thousands)	Commercial Portfolio		Consumer Portfolio		Total		Commercial Portfolio		Consumer Portfolio		Total
ACL on loans and leases:
Balance, beginning of period	$	510,696	$	58,675	$	569,371	$	283,906	$	44,445	$	328,351
Provision (benefit)	12,041		(313)		11,728		(21,077)		(497)		(21,574)
Charge-offs	(18,757)		(896)		(19,653)		(594)		(2,808)		(3,402)
Recoveries	7,765		2,288		10,053		836		3,734		4,570
Balance, end of period	$	511,745	$	59,754	$	571,499	$	263,071	$	44,874	$	307,945

	At or for the six months ended June 30,
	2022						2021
(In thousands)	Commercial Portfolio		Consumer Portfolio		Total		Commercial Portfolio		Consumer Portfolio		Total
ACL on loans and leases:
Balance, beginning of period	$	257,877	$	43,310	$	301,187	$	312,244	$	47,187	$	359,431
Initial allowance for PCD loans and leases (1)	78,376		9,669		88,045		—		—		—
Provision (benefit)	196,368		4,428		200,796		(44,730)		(2,603)		(47,333)
Charge-offs	(30,005)		(2,016)		(32,021)		(6,915)		(5,782)		(12,697)
Recoveries	9,129		4,363		13,492		2,472		6,072		8,544
Balance, end of period	$	511,745	$	59,754	$	571,499	$	263,071	$	44,874	$	307,945
Individually evaluated for impairment	38,847		4,450		43,297		11,537		4,560		16,097
Collectively evaluated for impairment	$	472,898	$	55,304	$	528,202	$	251,534	$	40,314	$	291,848

(1)Represents the establishment of the initial reserve for PCD loans and leases, which is reported net of $48.3 million of day one charge-offs recognized at the date of acquisition in accordance with GAAP.

The following table summarizes the activity in the ACL on unfunded loan commitments:

	Three months ended June 30,				Six months ended June 30,
(In thousands)	2022		2021		2022		2021
Balance, beginning of period	$	19,640	$	12,800	$	13,104	$	12,755
ACL assumed from Sterling	—		—		6,749		—
Provision (benefit) for credit losses	509		(826)		296		(781)
Balance, end of period	$	20,149	$	11,974	$	20,149	$	11,974