Commitments and Contingencies (Tables)

9 Months Ended

Sep. 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 September 30, 2022		At December 31, 2021
Commitments to extend credit	$	10,809,256	$	6,870,095
Standby letters of credit	382,988		224,061
Commercial letters of credit	57,368		58,175
Total credit-related financial instruments with off-balance sheet risk	$	11,249,612	$	7,152,331

Activity In Allowance For Losses

The following tables summarize the change in the ACL on loans and leases by portfolio segment:

	At or for the three months ended September 30,
	2022						2021
(In thousands)	Commercial Portfolio		Consumer Portfolio		Total		Commercial Portfolio		Consumer Portfolio		Total
ACL on loans and leases:
Balance, beginning of period	$	511,745	$	59,754	$	571,499	$	263,071	$	44,874	$	307,945
Provision (benefit)	34,513		(3,161)		31,352		7,681		217		7,898
Charge-offs	(31,356)		(1,453)		(32,809)		(1,723)		(2,053)		(3,776)
Recoveries	1,413		2,870		4,283		142		2,713		2,855
Balance, end of period	$	516,315	$	58,010	$	574,325	$	269,171	$	45,751	$	314,922

	At or for the nine months ended September 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)	230,881		1,267		232,148		(37,049)		(2,386)		(39,435)
Charge-offs	(61,361)		(3,469)		(64,830)		(8,638)		(7,835)		(16,473)
Recoveries	10,542		7,233		17,775		2,614		8,785		11,399
Balance, end of period	$	516,315	$	58,010	$	574,325	$	269,171	$	45,751	$	314,922
Individually evaluated for impairment	36,394		13,278		49,672		7,791		4,308		12,099
Collectively evaluated for impairment	$	479,921	$	44,732	$	524,653	$	261,380	$	41,443	$	302,823

(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 September 30,				Nine months ended September 30,
(In thousands)	2022		2021		2022		2021
Balance, beginning of period	$	20,149	$	11,974	$	13,104	$	12,755
ACL assumed from Sterling	—		—		6,749		—
Provision (benefit) for credit losses	5,180		196		5,476		(585)
Balance, end of period	$	25,329	$	12,170	$	25,329	$	12,170