Form | |
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | ||
For the quarterly period ended |
Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | ||||
For the transition period from | to |
(Exact name of registrant as specified in its charter) | ||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Depositary Shares, each representing a 1/40th Interest in a Share of | ||
Depositary Shares, each representing a 1/40th Interest in a Share of | ||
Depositary Shares, each representing a 1/40th Interest in a Share of | ||
Page | ||||
Part I. Financial Information | ||||
Item 1. | Financial Statements (Unaudited) | |||
Item 2. | ||||
Item 3. | ||||
Item 4. | ||||
Part II. Other Information | ||||
Item 1. | ||||
Item 2. | ||||
Item 6. | ||||
• | Current and future economic and market conditions in the United States generally or in the communities we serve, including the effects of possible declines in property values, increases in unemployment rates and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions. |
• | Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations, which could have a material adverse effect on our earnings. |
• | Possible changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital and liquidity. |
• | Any impairment of our goodwill or other intangibles, any repricing of assets, or any adjustment of valuation allowances on our deferred tax assets due to changes in law, adverse changes in the economic environment, declining operations of the reporting unit or other factors. |
• | The effect of changes in tax laws, including the effect of any future interpretations of or amendments to Tax Reform, which may impact our earnings, capital ratios and our ability to return capital to stockholders. |
• | Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases. |
• | Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, loan loss provisions or actual loan losses where our allowance for loan losses may not be adequate to cover our eventual losses. |
• | Possible acceleration of prepayments on mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on those securities. |
• | Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs. |
• | Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income. |
• | Our ability to effectively compete with other traditional and non-traditional financial services companies, some of whom possess greater financial resources than we do or are subject to different regulatory standards than we are. |
• | Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue. |
• | Our inability to keep pace with technological changes could result in losing business to competitors. |
• | Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses. |
• | Our ability to obtain a regulatory non-objection (as part of the CCAR process or otherwise) to take certain capital actions, including paying dividends and any plans to increase common stock dividends, repurchase common stock under current or future programs, or redeem preferred stock or other regulatory capital instruments, may impact our ability to return capital to stockholders and market perceptions of us. |
• | Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements. |
• | Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards and the LCR rule), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition could be negatively impacted. |
• | The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries. |
• | The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results. |
• | Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our business. |
• | Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and non-financial benefits relating to our strategic initiatives. |
• | The risks and uncertainties related to our acquisition or divestiture of businesses. |
• | The success of our marketing efforts in attracting and retaining customers. |
• | Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time. |
• | Fraud or misconduct by our customers, employees or business partners. |
• | Any inaccurate or incomplete information provided to us by our customers or counterparties. |
• | Inability of our framework to manage risks associated with our business such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a breach of operating or security systems as a result of a cyber attack or similar act or failure to deliver our services effectively. |
• | Dependence on key suppliers or vendors to obtain equipment and other supplies for our business on acceptable terms. |
• | The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts. |
• | The effects of geopolitical instability, including wars, conflicts and terrorist attacks and the potential impact, directly or indirectly, on our businesses. |
• | The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage, which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and impact of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change. |
• | Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair their ability to service any loans outstanding to them and/or reduce demand for loans in those industries. |
• | Our ability to identify and address cyber-security risks such as data security breaches, malware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our business and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation. |
• | Our ability to realize our adjusted efficiency ratio target as part of our expense management initiatives. |
• | Possible cessation or market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, hedging products, debt obligations, investments, and loans. |
• | Possible downgrades in our credit ratings or outlook could increase the costs of funding from capital markets. |
• | The effects of a possible downgrade in the U.S. government’s sovereign credit rating or outlook, which could result in risks to us and general economic conditions that we are not able to predict. |
• | The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses. |
• | The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses. |
• | Our ability to receive dividends from our subsidiaries could affect our liquidity and ability to pay dividends to shareholders. |
• | Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect. |
• | Other risks identified from time to time in reports that we file with the SEC. |
• | Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated. |
• | The effects of any damage to our reputation resulting from developments related to any of the items identified above. |
June 30, 2019 | December 31, 2018 | ||||||
(In millions, except share data) | |||||||
Assets | |||||||
Cash and due from banks | $ | $ | |||||
Interest-bearing deposits in other banks | |||||||
Debt securities held to maturity (estimated fair value of $1,448 and $1,460, respectively) | |||||||
Debt securities available for sale | |||||||
Loans held for sale (includes $433 and $251 measured at fair value, respectively) | |||||||
Loans, net of unearned income | |||||||
Allowance for loan losses | ( | ) | ( | ) | |||
Net loans | |||||||
Other earning assets | |||||||
Premises and equipment, net | |||||||
Interest receivable | |||||||
Goodwill | |||||||
Residential mortgage servicing rights at fair value | |||||||
Other identifiable intangible assets, net | |||||||
Other assets | |||||||
Total assets | $ | $ | |||||
Liabilities and Equity | |||||||
Deposits: | |||||||
Non-interest-bearing | $ | $ | |||||
Interest-bearing | |||||||
Total deposits | |||||||
Borrowed funds: | |||||||
Short-term borrowings: | |||||||
Other short-term borrowings | |||||||
Total short-term borrowings | |||||||
Long-term borrowings | |||||||
Total borrowed funds | |||||||
Other liabilities | |||||||
Total liabilities | |||||||
Equity: | |||||||
Preferred stock, authorized 10 million shares, par value $1.00 per share | |||||||
Non-cumulative perpetual, liquidation preference $1,000.00 per share, including related surplus, net of issuance costs; issued—1,500,000 and 1,000,000 shares, respectively | |||||||
Common stock, authorized 3 billion shares, par value $.01 per share: | |||||||
Issued including treasury stock—1,044,852,860 and 1,065,858,925 shares, respectively | |||||||
Additional paid-in capital | |||||||
Retained earnings | |||||||
Treasury stock, at cost—41,032,676 and 41,032,676 shares, respectively | ( | ) | ( | ) | |||
Accumulated other comprehensive income (loss), net | ( | ) | ( | ) | |||
Total stockholders’ equity | |||||||
Total liabilities and equity | $ | $ |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
(In millions, except per share data) | |||||||||||||||
Interest income, including other financing income on: | |||||||||||||||
Loans, including fees | $ | $ | $ | $ | |||||||||||
Debt securities - taxable | |||||||||||||||
Loans held for sale | |||||||||||||||
Other earning assets | |||||||||||||||
Operating lease assets | |||||||||||||||
Total interest income, including other financing income | |||||||||||||||
Interest expense on: | |||||||||||||||
Deposits | |||||||||||||||
Short-term borrowings | |||||||||||||||
Long-term borrowings | |||||||||||||||
Total interest expense | |||||||||||||||
Depreciation expense on operating lease assets | |||||||||||||||
Total interest expense and depreciation expense on operating lease assets | |||||||||||||||
Net interest income and other financing income | |||||||||||||||
Provision for loan losses | |||||||||||||||
Net interest income and other financing income after provision for loan losses | |||||||||||||||
Non-interest income: | |||||||||||||||
Service charges on deposit accounts | |||||||||||||||
Card and ATM fees | |||||||||||||||
Investment management and trust fee income | |||||||||||||||
Capital markets income | |||||||||||||||
Mortgage income | |||||||||||||||
Securities gains (losses), net | ( | ) | ( | ) | |||||||||||
Other | |||||||||||||||
Total non-interest income | |||||||||||||||
Non-interest expense: | |||||||||||||||
Salaries and employee benefits | |||||||||||||||
Net occupancy expense | |||||||||||||||
Furniture and equipment expense | |||||||||||||||
Other | |||||||||||||||
Total non-interest expense | |||||||||||||||
Income from continuing operations before income taxes | |||||||||||||||
Income tax expense | |||||||||||||||
Income from continuing operations | |||||||||||||||
Discontinued operations: | |||||||||||||||
Income (loss) from discontinued operations before income taxes | ( | ) | ( | ) | |||||||||||
Income tax expense (benefit) | |||||||||||||||
Income (loss) from discontinued operations, net of tax | ( | ) | ( | ) | |||||||||||
Net income | $ | $ | $ | $ | |||||||||||
Net income from continuing operations available to common shareholders | $ | $ | $ | $ | |||||||||||
Net income available to common shareholders | $ | $ | $ | $ | |||||||||||
Weighted-average number of shares outstanding: | |||||||||||||||
Basic | |||||||||||||||
Diluted | |||||||||||||||
Earnings per common share from continuing operations: | |||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||
Diluted | |||||||||||||||
Earnings per common share: | |||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||
Diluted |
Three Months Ended June 30 | |||||||
2019 | 2018 | ||||||
(In millions) | |||||||
Net income | $ | $ | |||||
Other comprehensive income (loss), net of tax: | |||||||
Unrealized losses on securities transferred to held to maturity: | |||||||
Unrealized losses on securities transferred to held to maturity during the period (net of zero and zero tax effect, respectively) | |||||||
Less: reclassification adjustments for amortization of unrealized losses on securities transferred to held to maturity (net of zero and zero tax effect, respectively) | ( | ) | ( | ) | |||
Net change in unrealized losses on securities transferred to held to maturity, net of tax | |||||||
Unrealized gains (losses) on securities available for sale: | |||||||
Unrealized holding gains (losses) arising during the period (net of $88 and ($23) tax effect, respectively) | ( | ) | |||||
Less: reclassification adjustments for securities gains (losses) realized in net income (net of ($3) and zero tax effect, respectively) | ( | ) | |||||
Net change in unrealized gains (losses) on securities available for sale, net of tax | ( | ) | |||||
Unrealized gains (losses) on derivative instruments designated as cash flow hedges: | |||||||
Unrealized holding gains (losses) on derivatives arising during the period (net of $102 and ($14) tax effect, respectively) | ( | ) | |||||
Less: reclassification adjustments for gains (losses) on derivative instruments realized in net income (net of ($2) and $1 tax effect, respectively) | ( | ) | |||||
Net change in unrealized gains (losses) on derivative instruments, net of tax | ( | ) | |||||
Defined benefit pension plans and other post employment benefits: | |||||||
Net actuarial gains (losses) arising during the period (net of zero and zero tax effect, respectively) | |||||||
Less: reclassification adjustments for amortization of actuarial loss and settlements realized in net income (net of ($3) and ($2) tax effect, respectively) | ( | ) | ( | ) | |||
Net change from defined benefit pension plans and other post employment benefits, net of tax | |||||||
Other comprehensive income (loss), net of tax | ( | ) | |||||
Comprehensive income | $ | $ | |||||
Six Months Ended June 30 | |||||||
2019 | 2018 | ||||||
(In millions) | |||||||
Net income | $ | $ | |||||
Other comprehensive income (loss), net of tax: | |||||||
Unrealized losses on securities transferred to held to maturity: | |||||||
Unrealized losses on securities transferred to held to maturity during the period (net of zero and zero tax effect, respectively) | |||||||
Less: reclassification adjustments for amortization of unrealized losses on securities transferred to held to maturity (net of zero and ($1) tax effect, respectively) | ( | ) | ( | ) | |||
Net change in unrealized losses on securities transferred to held to maturity, net of tax | |||||||
Unrealized gains (losses) on securities available for sale: | |||||||
Unrealized holding gains (losses) arising during the period (net of $165 and ($127) tax effect, respectively) | ( | ) | |||||
Less: reclassification adjustments for securities gains (losses) realized in net income (net of ($5) and zero tax effect, respectively) | ( | ) | |||||
Net change in unrealized gains (losses) on securities available for sale, net of tax | ( | ) | |||||
Unrealized gains (losses) on derivative instruments designated as cash flow hedges: | |||||||
Unrealized holding gains (losses) on derivatives arising during the period (net of $138 and ($45) tax effect, respectively) | ( | ) | |||||
Less: reclassification adjustments for gains (losses) on derivative instruments realized in net income (net of ($4) and $4 tax effect, respectively) | ( | ) | |||||
Net change in unrealized gains (losses) on derivative instruments, net of tax | ( | ) | |||||
Defined benefit pension plans and other post employment benefits: | |||||||
Net actuarial gains (losses) arising during the period (net of zero and zero tax effect, respectively) | ( | ) | |||||
Less: reclassification adjustments for amortization of actuarial loss realized in net income (net of ($5) and ($4) tax effect, respectively) | ( | ) | ( | ) | |||
Net change from defined benefit pension plans and other post employment benefits, net of tax | |||||||
Other comprehensive income (loss), net of tax | ( | ) | |||||
Comprehensive income | $ | $ |
Stockholders' Equity | |||||||||||||||||||||||||||||||||||||
Preferred Stock | Common Stock | Additional Paid-In Capital | Retained Earnings | Treasury Stock, At Cost | Accumulated Other Comprehensive Income (Loss), Net | Total | Non- controlling Interest | ||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||
(In millions, except per share data) | |||||||||||||||||||||||||||||||||||||
BALANCE AT JANUARY 1, 2018 | $ | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | $ | — | ||||||||||||||||||||||||
Cumulative effect from change in accounting guidance | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Net income | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | — | — | — | — | — | — | — | ( | ) | ( | ) | — | |||||||||||||||||||||||||
Cash dividends declared | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Preferred stock dividends | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Common stock transactions: | |||||||||||||||||||||||||||||||||||||
Impact of share repurchases | — | — | ( | ) | — | ( | ) | — | — | — | ( | ) | — | ||||||||||||||||||||||||
Impact of stock transactions under compensation plans, net | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
BALANCE AT MARCH 31, 2018 | $ | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | $ | — | ||||||||||||||||||||||||
BALANCE AT APRIL 1, 2018 | $ | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | $ | — | ||||||||||||||||||||||||
Cumulative effect from change in accounting guidance | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Net income | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | — | — | — | — | — | — | — | ( | ) | ( | ) | — | |||||||||||||||||||||||||
Cash dividends declared | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Preferred stock dividends | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Common stock transactions: | |||||||||||||||||||||||||||||||||||||
Impact of share repurchases | — | — | ( | ) | — | ( | ) | — | — | — | ( | ) | — | ||||||||||||||||||||||||
Impact of stock transactions under compensation plans, net and other | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||||
BALANCE AT JUNE 30, 2018 | $ | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | $ | — | ||||||||||||||||||||||||
BALANCE AT JANUARY 1, 2019 | $ | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
Cumulative effect from change in accounting guidance | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Net income | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Cash dividends declared | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Preferred stock dividends | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Common stock transactions: | |||||||||||||||||||||||||||||||||||||
Impact of share repurchases | — | — | ( | ) | — | ( | ) | — | — | — | ( | ) | — | ||||||||||||||||||||||||
Impact of stock transactions under compensation plans, net | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
BALANCE AT MARCH 31, 2019 | $ | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
BALANCE AT APRIL 1, 2019 | $ | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
Cumulative effect from change in accounting guidance | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Net income | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Cash dividends declared | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Preferred stock dividends | — | — | — | — | — | ( | ) | — | — | ( | ) | — | |||||||||||||||||||||||||
Preferred stock transactions: | |||||||||||||||||||||||||||||||||||||
Net proceeds from issuance of 500 thousand shares of Series C, fixed to floating rate, non-cumulative perpetual preferred stock, including related surplus | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Common stock transactions: | |||||||||||||||||||||||||||||||||||||
Impact of share repurchases | — | — | ( | ) | ( | ) | — | — | — | ( | ) | — | |||||||||||||||||||||||||
Impact of stock transactions under compensation plans, net | — | — | — | ( | ) | — | — | — | ( | ) | — | ||||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | — | ( | ) | ||||||||||||||||||||||||||
BALANCE AT JUNE 30, 2019 | $ | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | $ |
Six Months Ended June 30 | |||||||
2019 | 2018 | ||||||
(In millions) | |||||||
Operating activities: | |||||||
Net income | $ | $ | |||||
Adjustments to reconcile net income to net cash from operating activities: | |||||||
Provision for loan losses | |||||||
Depreciation, amortization and accretion, net | |||||||
Securities (gains) losses, net | ( | ) | |||||
Deferred income tax expense | |||||||
Originations and purchases of loans held for sale | ( | ) | ( | ) | |||
Proceeds from sales of loans held for sale | |||||||
(Gain) loss on sale of loans, net | ( | ) | ( | ) | |||
Net change in operating assets and liabilities: | |||||||
Other earning assets | |||||||
Interest receivable and other assets | ( | ) | ( | ) | |||
Other liabilities | ( | ) | |||||
Other | ( | ) | |||||
Net cash from operating activities | |||||||
Investing activities: | |||||||
Proceeds from maturities of debt securities held to maturity | |||||||
Proceeds from sales of debt securities available for sale | |||||||
Proceeds from maturities of debt securities available for sale | |||||||
Purchases of debt securities available for sale | ( | ) | ( | ) | |||
Net proceeds from (payments for) bank-owned life insurance | ( | ) | |||||
Proceeds from sales of loans | |||||||
Purchases of loans | ( | ) | ( | ) | |||
Purchases of mortgage servicing rights | ( | ) | ( | ) | |||
Net change in loans | ( | ) | ( | ) | |||
Net purchases of other assets | ( | ) | ( | ) | |||
Net cash from investing activities | ( | ) | |||||
Financing activities: | |||||||
Net change in deposits | ( | ) | |||||
Net change in short-term borrowings | |||||||
Proceeds from long-term borrowings | |||||||
Payments on long-term borrowings | ( | ) | ( | ) | |||
Net proceeds from issuance of preferred stock | |||||||
Cash dividends on common stock | ( | ) | ( | ) | |||
Cash dividends on preferred stock | ( | ) | ( | ) | |||
Repurchases of common stock | ( | ) | ( | ) | |||
Taxes paid related to net share settlement of equity awards | ( | ) | ( | ) | |||
Other | ( | ) | |||||
Net cash from financing activities | ( | ) | |||||
Net change in cash and cash equivalents | |||||||
Cash and cash equivalents at beginning of year | |||||||
Cash and cash equivalents at end of period | $ | $ |
June 30, 2019 | |||||||||||||||||||||||||||
Recognized in OCI (1) | Not Recognized in OCI | ||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Carrying Value | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Debt securities held to maturity: | |||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||
Residential agency | $ | $ | $ | ( | ) | $ | $ | $ | ( | ) | $ | ||||||||||||||||
Commercial agency | ( | ) | ( | ) | |||||||||||||||||||||||
$ | $ | $ | ( | ) | $ | $ | $ | ( | ) | $ | |||||||||||||||||
Debt securities available for sale: | |||||||||||||||||||||||||||
U.S. Treasury securities | $ | $ | $ | $ | $ | ||||||||||||||||||||||
Federal agency securities | |||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||
Residential agency | ( | ) | |||||||||||||||||||||||||
Residential non-agency | |||||||||||||||||||||||||||
Commercial agency | ( | ) | |||||||||||||||||||||||||
Commercial non-agency | |||||||||||||||||||||||||||
Corporate and other debt securities | ( | ) | |||||||||||||||||||||||||
$ | $ | $ | ( | ) | $ | $ |
December 31, 2018 | |||||||||||||||||||||||||||
Recognized in OCI (1) | Not Recognized in OCI | ||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Carrying Value | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Debt securities held to maturity: | |||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||
Residential agency | $ | $ | $ | ( | ) | $ | $ | $ | ( | ) | $ | ||||||||||||||||
Commercial agency | ( | ) | ( | ) | |||||||||||||||||||||||
$ | $ | $ | ( | ) | $ | $ | $ | ( | ) | $ | |||||||||||||||||
Debt securities available for sale: | |||||||||||||||||||||||||||
U.S. Treasury securities | $ | $ | $ | ( | ) | $ | $ | ||||||||||||||||||||
Federal agency securities | |||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||
Residential agency | ( | ) | |||||||||||||||||||||||||
Residential non-agency | |||||||||||||||||||||||||||
Commercial agency | ( | ) | |||||||||||||||||||||||||
Commercial non-agency | ( | ) | |||||||||||||||||||||||||
Corporate and other debt securities | ( | ) | |||||||||||||||||||||||||
$ | $ | $ | ( | ) | $ | $ |
Amortized Cost | Estimated Fair Value | ||||||
(In millions) | |||||||
Debt securities held to maturity: | |||||||
Mortgage-backed securities: | |||||||
Residential agency | $ | $ | |||||
Commercial agency | |||||||
$ | $ | ||||||
Debt securities available for sale: | |||||||
Due in one year or less | $ | $ | |||||
Due after one year through five years | |||||||
Due after five years through ten years | |||||||
Due after ten years | |||||||
Mortgage-backed securities: | |||||||
Residential agency | |||||||
Residential non-agency | |||||||
Commercial agency | |||||||
Commercial non-agency | |||||||
$ | $ |
June 30, 2019 | |||||||||||||||||||||||
Less Than Twelve Months | Twelve Months or More | Total | |||||||||||||||||||||
Estimated Fair Value | Gross Unrealized Losses | Estimated Fair Value | Gross Unrealized Losses | Estimated Fair Value | Gross Unrealized Losses | ||||||||||||||||||
(In millions) | |||||||||||||||||||||||
Debt securities held to maturity: | |||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||
Residential agency | $ | $ | $ | $ | ( | ) | $ | $ | ( | ) | |||||||||||||
Commercial agency | ( | ) | ( | ) | |||||||||||||||||||
$ | $ | $ | $ | ( | ) | $ | $ | ( | ) | ||||||||||||||
Debt securities available for sale: | |||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||
Residential agency | $ | $ | ( | ) | $ | $ | ( | ) | $ | $ | ( | ) | |||||||||||
Commercial agency | ( | ) | ( | ) | |||||||||||||||||||
Corporate and other debt securities | ( | ) | ( | ) | |||||||||||||||||||
$ | $ | ( | ) | $ | $ | ( | ) | $ | $ | ( | ) |
December 31, 2018 | |||||||||||||||||||||||
Less Than Twelve Months | Twelve Months or More | Total | |||||||||||||||||||||
Estimated Fair Value | Gross Unrealized Losses | Estimated Fair Value | Gross Unrealized Losses | Estimated Fair Value | Gross Unrealized Losses | ||||||||||||||||||
(In millions) | |||||||||||||||||||||||
Debt securities held to maturity: | |||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||
Residential agency | $ | $ | $ | $ | ( | ) | $ | $ | ( | ) | |||||||||||||
Commercial agency | ( | ) | ( | ) | ( | ) | |||||||||||||||||
$ | $ | ( | ) | $ | $ | ( | ) | $ | $ | ( | ) | ||||||||||||
Debt securities available for sale: | |||||||||||||||||||||||
U.S. Treasury securities | $ | $ | $ | $ | ( | ) | $ | $ | ( | ) | |||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||
Residential agency | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Commercial agency | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Commercial non-agency | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Corporate and other debt securities | ( | ) | ( | ) | ( | ) | |||||||||||||||||
$ | $ | ( | ) | $ | $ | ( | ) | $ | $ | ( | ) |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
(In millions) | |||||||||||||||
Gross realized gains | $ | $ | $ | $ | |||||||||||
Gross realized losses | ( | ) | ( | ) | |||||||||||
OTTI | ( | ) | ( | ) | ( | ) | |||||||||
Debt securities available for sale gains (losses), net | $ | ( | ) | $ | $ | ( | ) | $ |
June 30, 2019 | December 31, 2018 | ||||||
(In millions, net of unearned income) | |||||||
Commercial and industrial | $ | $ | |||||
Commercial real estate mortgage—owner-occupied | |||||||
Commercial real estate construction—owner-occupied | |||||||
Total commercial | |||||||
Commercial investor real estate mortgage | |||||||
Commercial investor real estate construction | |||||||
Total investor real estate | |||||||
Residential first mortgage | |||||||
Home equity | |||||||
Indirect—vehicles | |||||||
Indirect—other consumer | |||||||
Consumer credit card | |||||||
Other consumer | |||||||
Total consumer | |||||||
$ | $ |
Three Months Ended June 30, 2019 | |||||||||||||||
Commercial | Investor Real Estate | Consumer | Total | ||||||||||||
(In millions) | |||||||||||||||
Allowance for loan losses, April 1, 2019 | $ | $ | $ | $ | |||||||||||
Provision (credit) for loan losses | ( | ) | |||||||||||||
Loan losses: | |||||||||||||||
Charge-offs | ( | ) | ( | ) | ( | ) | |||||||||
Recoveries | |||||||||||||||
Net loan (losses) recoveries | ( | ) | ( | ) | ( | ) | |||||||||
Allowance for loan losses, June 30, 2019 | |||||||||||||||
Reserve for unfunded credit commitments, April 1, 2019 | |||||||||||||||
Provision (credit) for unfunded credit losses | |||||||||||||||
Reserve for unfunded credit commitments, June 30, 2019 | |||||||||||||||
Allowance for credit losses, June 30, 2019 | $ | $ | $ | $ |
Three Months Ended June 30, 2018 | |||||||||||||||
Commercial | Investor Real Estate | Consumer | Total | ||||||||||||
(In millions) | |||||||||||||||
Allowance for loan losses, April 1, 2018 | $ | $ | $ | $ | |||||||||||
Provision (credit) for loan losses | ( | ) | |||||||||||||
Loan losses: | |||||||||||||||
Charge-offs | ( | ) | ( | ) | ( | ) | |||||||||
Recoveries | |||||||||||||||
Net loan (losses) recoveries | ( | ) | ( | ) | ( | ) | |||||||||
Allowance for loan losses, June 30, 2018 | |||||||||||||||
Reserve for unfunded credit commitments, April 1, 2018 | |||||||||||||||
Provision (credit) for unfunded credit losses | ( | ) | ( | ) | |||||||||||
Reserve for unfunded credit commitments, June 30, 2018 | |||||||||||||||
Allowance for credit losses, June 30, 2018 | $ | $ | $ | $ |
Six Months Ended June 30, 2019 | |||||||||||||||
Commercial | Investor Real Estate | Consumer | Total | ||||||||||||
(In millions) | |||||||||||||||
Allowance for loan losses, January 1, 2019 | $ | $ | $ | $ | |||||||||||
Provision (credit) for loan losses | ( | ) | |||||||||||||
Loan losses: | |||||||||||||||
Charge-offs | ( | ) | ( | ) | ( | ) | |||||||||
Recoveries | |||||||||||||||
Net loan (losses) recoveries | ( | ) | ( | ) | ( | ) | |||||||||
Allowance for loan losses, June 30, 2019 | |||||||||||||||
Reserve for unfunded credit commitments, January 1, 2019 | |||||||||||||||
Provision (credit) for unfunded credit losses | ( | ) | ( | ) | |||||||||||
Reserve for unfunded credit commitments, June 30, 2019 | |||||||||||||||
Allowance for credit losses, June 30, 2019 | $ | $ | $ | $ | |||||||||||
Portion of ending allowance for loan losses: | |||||||||||||||
Individually evaluated for impairment | $ | $ | $ | $ | |||||||||||
Collectively evaluated for impairment | |||||||||||||||
Total allowance for loan losses | $ | $ | $ | $ | |||||||||||
Portion of loan portfolio ending balance: | |||||||||||||||
Individually evaluated for impairment | $ | $ | $ | $ | |||||||||||
Collectively evaluated for impairment | |||||||||||||||
Total loans evaluated for impairment | $ | $ | $ | $ |
Six Months Ended June 30, 2018 | |||||||||||||||
Commercial | Investor Real Estate | Consumer | Total | ||||||||||||
(In millions) | |||||||||||||||
Allowance for loan losses, January 1, 2018 | $ | $ | $ | $ | |||||||||||
Provision (credit) for loan losses | ( | ) | |||||||||||||
Loan losses: | |||||||||||||||
Charge-offs | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Recoveries | |||||||||||||||
Net loan (losses) recoveries | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Allowance for loan losses, June 30, 2018 | |||||||||||||||
Reserve for unfunded credit commitments, January 1, 2018 | |||||||||||||||
Provision (credit) for unfunded credit losses | ( | ) | ( | ) | |||||||||||
Reserve for unfunded credit commitments, June 30, 2018 | |||||||||||||||
Allowance for credit losses, June 30, 2018 | $ | $ | $ | $ | |||||||||||
Portion of ending allowance for loan losses: | |||||||||||||||
Individually evaluated for impairment | $ | $ | $ | $ | |||||||||||
Collectively evaluated for impairment | |||||||||||||||
Total allowance for loan losses | $ | $ | $ | $ | |||||||||||
Portion of loan portfolio ending balance: | |||||||||||||||
Individually evaluated for impairment | $ | $ | $ | $ | |||||||||||
Collectively evaluated for impairment | |||||||||||||||
Total loans evaluated for impairment | $ | $ | $ | $ |
• | Pass—includes obligations where the probability of default is considered low; |
• | Special Mention—includes obligations that have potential weakness that may, if not reversed or corrected, weaken the credit or inadequately protect the Company’s position at some future date. Obligations in this category may also be subject to economic or market conditions that may, in the future, have an adverse effect on debt service ability; |
• | Substandard Accrual—includes obligations that exhibit a well-defined weakness that presently jeopardizes debt repayment, even though they are currently performing. These obligations are characterized by the distinct possibility that the Company may incur a loss in the future if these weaknesses are not corrected; |
• | Non-accrual—includes obligations where management has determined that full payment of principal and interest is in doubt. |
June 30, 2019 | |||||||||||||||||||
Pass | Special Mention | Substandard Accrual | Non-accrual | Total | |||||||||||||||
(In millions) | |||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | ||||||||||||||
Commercial real estate mortgage—owner-occupied | |||||||||||||||||||
Commercial real estate construction—owner-occupied | |||||||||||||||||||
Total commercial | $ | $ | $ | $ | $ | ||||||||||||||
Commercial investor real estate mortgage | $ | $ | $ | $ | $ | ||||||||||||||
Commercial investor real estate construction | |||||||||||||||||||
Total investor real estate | $ | $ | $ | $ | $ | ||||||||||||||
Accrual | Non-accrual | Total | |||||||||||||||||
(In millions) | |||||||||||||||||||
Residential first mortgage | $ | $ | $ | ||||||||||||||||
Home equity | |||||||||||||||||||
Indirect—vehicles | |||||||||||||||||||
Indirect—other consumer | |||||||||||||||||||
Consumer credit card | |||||||||||||||||||
Other consumer | |||||||||||||||||||
Total consumer | $ | $ | $ | ||||||||||||||||
$ |
December 31, 2018 | |||||||||||||||||||
Pass | Special Mention | Substandard Accrual | Non-accrual | Total | |||||||||||||||
(In millions) | |||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | ||||||||||||||
Commercial real estate mortgage—owner-occupied | |||||||||||||||||||
Commercial real estate construction—owner-occupied | |||||||||||||||||||
Total commercial | $ | $ | $ | $ | $ | ||||||||||||||
Commercial investor real estate mortgage | $ | $ | $ | $ | $ | ||||||||||||||
Commercial investor real estate construction | |||||||||||||||||||
Total investor real estate | $ | $ | $ | $ | $ | ||||||||||||||
Accrual | Non-accrual | Total | |||||||||||||||||
(In millions) | |||||||||||||||||||
Residential first mortgage | $ | $ | $ | ||||||||||||||||
Home equity | |||||||||||||||||||
Indirect—vehicles | |||||||||||||||||||
Indirect—other consumer | |||||||||||||||||||
Consumer credit card | |||||||||||||||||||
Other consumer | |||||||||||||||||||
Total consumer | $ | $ | $ | ||||||||||||||||
$ |
June 30, 2019 | |||||||||||||||||||||||||||
Accrual Loans | |||||||||||||||||||||||||||
30-59 DPD | 60-89 DPD | 90+ DPD | Total 30+ DPD | Total Accrual | Non-accrual | Total | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Commercial real estate mortgage—owner-occupied | |||||||||||||||||||||||||||
Commercial real estate construction—owner-occupied | |||||||||||||||||||||||||||
Total commercial | |||||||||||||||||||||||||||
Commercial investor real estate mortgage | |||||||||||||||||||||||||||
Commercial investor real estate construction | |||||||||||||||||||||||||||
Total investor real estate | |||||||||||||||||||||||||||
Residential first mortgage | |||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||
Indirect—vehicles | |||||||||||||||||||||||||||
Indirect—other consumer | |||||||||||||||||||||||||||
Consumer credit card | |||||||||||||||||||||||||||
Other consumer | |||||||||||||||||||||||||||
Total consumer | |||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | $ |
December 31, 2018 | |||||||||||||||||||||||||||
Accrual Loans | |||||||||||||||||||||||||||
30-59 DPD | 60-89 DPD | 90+ DPD | Total 30+ DPD | Total Accrual | Non-accrual | Total | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Commercial real estate mortgage—owner-occupied | |||||||||||||||||||||||||||
Commercial real estate construction—owner-occupied | |||||||||||||||||||||||||||
Total commercial | |||||||||||||||||||||||||||
Commercial investor real estate mortgage | |||||||||||||||||||||||||||
Commercial investor real estate construction | |||||||||||||||||||||||||||
Total investor real estate | |||||||||||||||||||||||||||
Residential first mortgage | |||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||
Indirect—vehicles | |||||||||||||||||||||||||||
Indirect—other consumer | |||||||||||||||||||||||||||
Consumer credit card | |||||||||||||||||||||||||||
Other consumer | |||||||||||||||||||||||||||
Total consumer | |||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | $ |
Non-accrual Impaired Loans As of June 30, 2019 | ||||||||||||||||||||||||||
Book Value(3) | ||||||||||||||||||||||||||
Unpaid Principal Balance(1) | Charge-offs and Payments Applied(2) | Total Impaired Loans on Non-accrual Status | Impaired Loans on Non-accrual Status with No Related Allowance | Impaired Loans on Non-accrual Status with Related Allowance | Related Allowance for Loan Losses | Coverage %(4) | ||||||||||||||||||||
(Dollars in millions) | ||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | % | |||||||||||||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||||||||||||||||||
Commercial real estate construction—owner-occupied | ||||||||||||||||||||||||||
Total commercial | ||||||||||||||||||||||||||
Commercial investor real estate mortgage | ||||||||||||||||||||||||||
Total investor real estate | ||||||||||||||||||||||||||
Residential first mortgage | ||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||
Total consumer | ||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | % |
Accruing Impaired Loans As of June 30, 2019 | ||||||||||||||||||
Unpaid Principal Balance(1) | Charge-offs and Payments Applied(2) | Book Value(3) | Related Allowance for Loan Losses | Coverage %(4) | ||||||||||||||
(Dollars in millions) | ||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | % | |||||||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||||||||||
Total commercial | ||||||||||||||||||
Commercial investor real estate mortgage | ||||||||||||||||||
Commercial investor real estate construction | ||||||||||||||||||
Total investor real estate | ||||||||||||||||||
Residential first mortgage | ||||||||||||||||||
Home equity | ||||||||||||||||||
Consumer credit card | ||||||||||||||||||
Other consumer | ||||||||||||||||||
Total consumer | ||||||||||||||||||
$ | $ | $ | $ | % |
Total Impaired Loans As of June 30, 2019 | ||||||||||||||||||||||||||
Book Value(3) | ||||||||||||||||||||||||||
Unpaid Principal Balance(1) | Charge-offs and Payments Applied(2) | Total Impaired Loans | Impaired Loans with No Related Allowance | Impaired Loans with Related Allowance | Related Allowance for Loan Losses | Coverage %(4) | ||||||||||||||||||||
(Dollars in millions) | ||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | % | |||||||||||||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||||||||||||||||||
Commercial real estate construction—owner-occupied | ||||||||||||||||||||||||||
Total commercial | ||||||||||||||||||||||||||
Commercial investor real estate mortgage | ||||||||||||||||||||||||||
Commercial investor real estate construction | ||||||||||||||||||||||||||
Total investor real estate | ||||||||||||||||||||||||||
Residential first mortgage | ||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||
Consumer credit card | ||||||||||||||||||||||||||
Other consumer | ||||||||||||||||||||||||||
Total consumer | ||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | % |
Non-accrual Impaired Loans As of December 31, 2018 | ||||||||||||||||||||||||||
Book Value(3) | ||||||||||||||||||||||||||
Unpaid Principal Balance(1) | Charge-offs and Payments Applied(2) | Total Impaired Loans on Non-accrual Status | Impaired Loans on Non-accrual Status with No Related Allowance | Impaired Loans on Non-accrual Status with Related Allowance | Related Allowance for Loan Losses | Coverage %(4) | ||||||||||||||||||||
(Dollars in millions) | ||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | % | |||||||||||||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||||||||||||||||||
Commercial real estate construction—owner-occupied | ||||||||||||||||||||||||||
Total commercial | ||||||||||||||||||||||||||
Commercial investor real estate mortgage | ||||||||||||||||||||||||||
Total investor real estate | ||||||||||||||||||||||||||
Residential first mortgage | ||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||
Total consumer | ||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | % |
Accruing Impaired Loans As of December 31, 2018 | ||||||||||||||||||
Unpaid Principal Balance(1) | Charge-offs and Payments Applied(2) | Book Value(3) | Related Allowance for Loan Losses | Coverage %(4) | ||||||||||||||
(Dollars in millions) | ||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | % | |||||||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||||||||||
Total commercial | ||||||||||||||||||
Commercial investor real estate mortgage | ||||||||||||||||||
Total investor real estate | ||||||||||||||||||
Residential first mortgage | ||||||||||||||||||
Home equity | ||||||||||||||||||
Consumer credit card | ||||||||||||||||||
Other consumer | ||||||||||||||||||
Total consumer | ||||||||||||||||||
$ | $ | $ | $ | % |
Total Impaired Loans As of December 31, 2018 | ||||||||||||||||||||||||||
Book Value(3) | ||||||||||||||||||||||||||
Unpaid Principal Balance(1) | Charge-offs and Payments Applied(2) | Total Impaired Loans | Impaired Loans with No Related Allowance | Impaired Loans with Related Allowance | Related Allowance for Loan Losses | Coverage %(4) | ||||||||||||||||||||
(Dollars in millions) | ||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | % | |||||||||||||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||||||||||||||||||
Commercial real estate construction—owner-occupied | ||||||||||||||||||||||||||
Total commercial | ||||||||||||||||||||||||||
Commercial investor real estate mortgage | ||||||||||||||||||||||||||
Total investor real estate | ||||||||||||||||||||||||||
Residential first mortgage | ||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||
Consumer credit card | ||||||||||||||||||||||||||
Other consumer | ||||||||||||||||||||||||||
Total consumer | ||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | % |
(1) | Unpaid principal balance represents the contractual obligation due from the customer and includes the net book value plus charge-offs and payments applied. |
(2) | Charge-offs and payments applied represents cumulative partial charge-offs taken, as well as interest payments received that have been applied against the outstanding principal balance. |
(3) | Book value represents the unpaid principal balance less charge-offs and payments applied; it is shown before any allowance for loan losses. |
(4) | Coverage % represents charge-offs and payments applied plus the related allowance as a percent of the unpaid principal balance. |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||||||||||||||
Average Balance | Interest Income Recognized | Average Balance | Interest Income Recognized | Average Balance | Interest Income Recognized | Average Balance | Interest Income Recognized | ||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||
Commercial real estate mortgage—owner-occupied | |||||||||||||||||||||||||||||||
Commercial real estate construction—owner-occupied | |||||||||||||||||||||||||||||||
Total commercial | |||||||||||||||||||||||||||||||
Commercial investor real estate mortgage | |||||||||||||||||||||||||||||||
Commercial investor real estate construction | |||||||||||||||||||||||||||||||
Total investor real estate | |||||||||||||||||||||||||||||||
Residential first mortgage | |||||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||
Consumer credit card | |||||||||||||||||||||||||||||||
Other consumer | |||||||||||||||||||||||||||||||
Total consumer | |||||||||||||||||||||||||||||||
Total impaired loans | $ | $ | $ | $ | $ | $ | $ | $ |
Three Months Ended June 30, 2019 | ||||||||||
Financial Impact of Modifications Considered TDRs | ||||||||||
Number of Obligors | Recorded Investment | Increase in Allowance at Modification | ||||||||
(Dollars in millions) | ||||||||||
Commercial and industrial | $ | $ | ||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||
Total commercial | ||||||||||
Commercial investor real estate mortgage | ||||||||||
Commercial investor real estate construction | ||||||||||
Total investor real estate | ||||||||||
Residential first mortgage | ||||||||||
Home equity | ||||||||||
Consumer credit card | ||||||||||
Indirect—vehicles and other consumer | ||||||||||
Total consumer | ||||||||||
$ | $ |
Three Months Ended June 30, 2018 | ||||||||||
Financial Impact of Modifications Considered TDRs | ||||||||||
Number of Obligors | Recorded Investment | Increase in Allowance at Modification | ||||||||
(Dollars in millions) | ||||||||||
Commercial and industrial | $ | $ | ||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||
Total commercial | ||||||||||
Commercial investor real estate mortgage | ||||||||||
Total investor real estate | ||||||||||
Residential first mortgage | ||||||||||
Home equity | ||||||||||
Consumer credit card | ||||||||||
Indirect—vehicles and other consumer | ||||||||||
Total consumer | ||||||||||
$ | $ |
Six Months Ended June 30, 2019 | ||||||||||
Financial Impact of Modifications Considered TDRs | ||||||||||
Number of Obligors | Recorded Investment | Increase in Allowance at Modification | ||||||||
(Dollars in millions) | ||||||||||
Commercial and industrial | $ | $ | ||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||
Commercial real estate construction—owner-occupied | ||||||||||
Total commercial | ||||||||||
Commercial investor real estate mortgage | ||||||||||
Commercial investor real estate construction | ||||||||||
Total investor real estate | ||||||||||
Residential first mortgage | ||||||||||
Home equity | ||||||||||
Consumer credit card | ||||||||||
Indirect—vehicles and other consumer | ||||||||||
Total consumer | ||||||||||
$ | $ |
Six Months Ended June 30, 2018 | ||||||||||
Financial Impact of Modifications Considered TDRs | ||||||||||
Number of Obligors | Recorded Investment | Increase in Allowance at Modification | ||||||||
(Dollars in millions) | ||||||||||
Commercial and industrial | $ | $ | ||||||||
Commercial real estate mortgage—owner-occupied | ||||||||||
Total commercial | ||||||||||
Commercial investor real estate mortgage | ||||||||||
Total investor real estate | ||||||||||
Residential first mortgage | ||||||||||
Home equity | ||||||||||
Consumer credit card | ||||||||||
Indirect—vehicles and other consumer | ||||||||||
Total consumer | ||||||||||
$ | $ |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
(In millions) | |||||||||||||||
Carrying value, beginning of period | $ | $ | $ | $ | |||||||||||
Additions | |||||||||||||||
Increase (decrease) in fair value: | |||||||||||||||
Due to change in valuation inputs or assumptions | ( | ) | ( | ) | |||||||||||
Economic amortization associated with borrower repayments (1) | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Carrying value, end of period | $ | $ | $ | $ |
June 30 | |||||||
2019 | 2018 | ||||||
(Dollars in millions) | |||||||
Unpaid principal balance | $ | $ | |||||
Weighted-average CPR (%) | % | % | |||||
Estimated impact on fair value of a 10% increase | $ | ( | ) | $ | ( | ) | |
Estimated impact on fair value of a 20% increase | $ | ( | ) | $ | ( | ) | |
Option-adjusted spread (basis points) | |||||||
Estimated impact on fair value of a 10% increase | $ | ( | ) | $ | ( | ) | |
Estimated impact on fair value of a 20% increase | $ | ( | ) | $ | ( | ) | |
Weighted-average coupon interest rate | % | % | |||||
Weighted-average remaining maturity (months) | 279 | 280 | |||||
Weighted-average servicing fee (basis points) |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
(In millions) | |||||||||||||||
Servicing related fees and other ancillary income | $ | $ | $ | $ |
Three Months Ended June 30, 2019 | Six Months Ended June 30, 2019 | ||||||
(In millions) | |||||||
Operating lease cost | $ | $ |
June 30, 2019 | ||
Weighted-average remaining lease term (years) | ||
Weighted-average discount rate (%) | % |
June 30, 2019 | |||
(In millions) | |||
2019 (excluding the six months ended June 30, 2019) | $ | ||
2020 | |||
2021 | |||
2022 | |||
2023 | |||
Thereafter | |||
Total lease payments | $ | ||
Less: Imputed interest | |||
Total present value of lease liabilities | $ |
Net Interest Income and Other Financing Income | |||||||
Three Months Ended June 30, 2019 | Six Months Ended June 30, 2019 | ||||||
(In millions) | |||||||
Sales-Type and Direct Financing | $ | $ | |||||
Operating | |||||||
Leveraged | |||||||
$ | $ |
As of June 30, 2019 | |||||||||||||||
Sales-Type and Direct Financing | Operating | Leveraged | Total | ||||||||||||
(In millions) | |||||||||||||||
Lease receivable | $ | $ | $ | $ | |||||||||||
Unearned income | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Guaranteed residual | |||||||||||||||
Unguaranteed residual | |||||||||||||||
Total net investment | $ | $ | $ | $ |
June 30, 2019 | |||||||||||
Sales-Type and Direct Financing | Operating | Total | |||||||||
(In millions) | |||||||||||
2019 (excluding the six months ended June 30, 2019) | $ | $ | $ | ||||||||
2020 | |||||||||||
2021 | |||||||||||
2022 | |||||||||||
2023 | |||||||||||
Thereafter | |||||||||||
$ | $ | $ |
June 30, 2019 | December 31, 2018 | ||||||||||||||||||
Issuance Date | Earliest Redemption Date | Dividend Rate | Liquidation Amount | Carrying Amount | Carrying Amount | ||||||||||||||
(Dollars in millions) | |||||||||||||||||||
Series A | 11/1/2012 | 12/15/2017 | % | $ | $ | $ | |||||||||||||
Series B | 4/29/2014 | 9/15/2024 | % | (1) | |||||||||||||||
Series C | 4/30/2019 | 5/15/2029 | % | (2) | |||||||||||||||
$ | $ | $ |
Three Months Ended June 30, 2019 | |||||||||||||||||||
Unrealized losses on securities transferred to held to maturity | Unrealized gains (losses) on securities available for sale | Unrealized gains (losses) on derivative instruments designated as cash flow hedges | Defined benefit pension plans and other post employment benefits | Accumulated other comprehensive income (loss), net of tax | |||||||||||||||
(In millions) | |||||||||||||||||||
Beginning of period | $ | ( | ) | $ | ( | ) | $ | $ | ( | ) | $ | ( | ) | ||||||
Net change | |||||||||||||||||||
End of period | $ | ( | ) | $ | $ | $ | ( | ) | $ | ( | ) |
Three Months Ended June 30, 2018 | |||||||||||||||||||
Unrealized losses on securities transferred to held to maturity | Unrealized gains (losses) on securities available for sale | Unrealized gains (losses) on derivative instruments designated as cash flow hedges | Defined benefit pension plans and other post employment benefits | Accumulated other comprehensive income (loss), net of tax | |||||||||||||||
(In millions) | |||||||||||||||||||
Beginning of period | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
Net change | ( | ) | ( | ) | ( | ) | |||||||||||||
End of period | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) |
Six Months Ended June 30, 2019 | |||||||||||||||||||
Unrealized losses on securities transferred to held to maturity | Unrealized gains (losses) on securities available for sale | Unrealized gains (losses) on derivative instruments designated as cash flow hedges | Defined benefit pension plans and other post employment benefits | Accumulated other comprehensive income (loss), net of tax | |||||||||||||||
(In millions) | |||||||||||||||||||
Beginning of period | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
Net change | |||||||||||||||||||
End of period | $ | ( | ) | $ | $ | $ | ( | ) | $ | ( | ) |
Six Months Ended June 30, 2018 | |||||||||||||||||||
Unrealized losses on securities transferred to held to maturity | Unrealized gains (losses) on securities available for sale | Unrealized gains (losses) on derivative instruments designated as cash flow hedges | Defined benefit pension plans and other post employment benefits | Accumulated other comprehensive income (loss), net of tax | |||||||||||||||
(In millions) | |||||||||||||||||||
Beginning of period | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
Net change | ( | ) | ( | ) | ( | ) | |||||||||||||
End of period | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) |
Three Months Ended June 30, 2019 | Three Months Ended June 30, 2018 | ||||||||
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)(1) | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)(1) | Affected Line Item in the Consolidated Statements of Income | ||||||
(In millions) | |||||||||
Unrealized losses on securities transferred to held to maturity: | |||||||||
$ | ( | ) | $ | ( | ) | Net interest income and other financing income | |||
Tax (expense) or benefit | |||||||||
$ | ( | ) | $ | ( | ) | Net of tax | |||
Unrealized gains and (losses) on available for sale securities: | |||||||||
$ | ( | ) | $ | Securities gains (losses), net | |||||
Tax (expense) or benefit | |||||||||
$ | ( | ) | $ | Net of tax | |||||
Gains and (losses) on cash flow hedges: | |||||||||
Interest rate contracts | $ | ( | ) | $ | Net interest income and other financing income | ||||
( | ) | Tax (expense) or benefit | |||||||
$ | ( | ) | $ | Net of tax | |||||
Amortization of defined benefit pension plans and other post employment benefits: | |||||||||
Actuarial gains (losses)(2) | $ | ( | ) | $ | ( | ) | Total before tax | ||
Tax (expense) or benefit | |||||||||
$ | ( | ) | $ | ( | ) | Net of tax | |||
Total reclassifications for the period | $ | ( | ) | $ | ( | ) | Net of tax |
Six Months Ended June 30, 2019 | Six Months Ended June 30, 2018 | ||||||||
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)(1) | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)(1) | Affected Line Item in the Consolidated Statements of Income | ||||||
(In millions) | |||||||||
Unrealized losses on securities transferred to held to maturity: | |||||||||
$ | ( | ) | $ | ( | ) | Net interest income and other financing income | |||
Tax (expense) or benefit | |||||||||
$ | ( | ) | $ | ( | ) | Net of tax | |||
Unrealized gains and (losses) on available for sale securities: | |||||||||
$ | ( | ) | $ | Securities gains (losses), net | |||||
Tax (expense) or benefit | |||||||||
$ | ( | ) | $ | Net of tax | |||||
Gains and (losses) on cash flow hedges: | |||||||||
Interest rate contracts | $ | ( | ) | $ | Net interest income and other financing income | ||||
( | ) | Tax (expense) or benefit | |||||||
$ | ( | ) | $ | Net of tax | |||||
Amortization of defined benefit pension plans and other post employment benefits: | |||||||||
Actuarial gains (losses)(2) | $ | ( | ) | $ | ( | ) | Total before tax | ||
Tax (expense) or benefit | |||||||||
$ | ( | ) | $ | ( | ) | Net of tax | |||
Total reclassifications for the period | $ | ( | ) | $ | ( | ) | Net of tax |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
(In millions, except per share amounts) | |||||||||||||||
Numerator: | |||||||||||||||
Income from continuing operations | $ | $ | $ | $ | |||||||||||
Preferred stock dividends | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Income from continuing operations available to common shareholders | |||||||||||||||
Income from discontinued operations, net of tax | ( | ) | ( | ) | |||||||||||
Net income available to common shareholders | $ | $ | $ | $ | |||||||||||
Denominator: | |||||||||||||||
Weighted-average common shares outstanding—basic | |||||||||||||||
Potential common shares | |||||||||||||||
Weighted-average common shares outstanding—diluted | |||||||||||||||
Earnings per common share from continuing operations available to common shareholders(1): | |||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||
Diluted | |||||||||||||||
Earnings per common share from discontinued operations(1)(2)(3): | |||||||||||||||
Basic | $ | $ | ( | ) | $ | $ | ( | ) | |||||||
Diluted | ( | ) | ( | ) | |||||||||||
Earnings per common share(1): | |||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||
Diluted |
(1) | Certain per share amounts may not appear to reconcile due to rounding. |
(2) | On April 4, 2018, Regions entered into a stock purchase agreement to sell Regions Insurance Group, Inc to BB&T Insurance Holdings, Inc. The transaction closed on July 2, 2018. The transaction generated an after-tax gain of $ |
(3) | In a period where there is a loss from discontinued operations, basic weighted-average common shares outstanding are used to determine both basic and diluted earnings per share. |
Qualified Plans | Non-qualified Plans | Total | ||||||||||||||||||||||
Three Months Ended June 30 | ||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | |||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Service cost | $ | $ | $ | $ | $ | $ | ||||||||||||||||||
Interest cost | ||||||||||||||||||||||||
Expected return on plan assets | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||
Amortization of actuarial loss | ||||||||||||||||||||||||
Net periodic pension cost (credit) | $ | $ | ( | ) | $ | $ | $ | $ | ( | ) |
Qualified Plans | Non-qualified Plans | Total | ||||||||||||||||||||||
Six Months Ended June 30 | ||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | |||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Service cost | $ | $ | $ | $ | $ | $ | ||||||||||||||||||
Interest cost | ||||||||||||||||||||||||
Expected return on plan assets | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||
Amortization of actuarial loss | ||||||||||||||||||||||||
Net periodic pension cost (credit) | $ | $ | ( | ) | $ | $ | $ | $ |
June 30, 2019 | December 31, 2018 | ||||||||||||||||||||||
Notional Amount | Estimated Fair Value | Notional Amount | Estimated Fair Value | ||||||||||||||||||||
Gain(1) | Loss(1) | Gain(1) | Loss(1) | ||||||||||||||||||||
(In millions) | |||||||||||||||||||||||
Derivatives in fair value hedging relationships: | |||||||||||||||||||||||
Interest rate swaps | $ | $ | |||||||||||||||||||||
Derivatives in cash flow hedging relationships: | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Interest rate floors (2) | $ | $ | |||||||||||||||||||||
Total derivatives designated as hedging instruments | $ | $ | $ | $ | |||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Interest rate swaps | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Interest rate options | |||||||||||||||||||||||
Interest rate futures and forward commitments | |||||||||||||||||||||||
Other contracts | |||||||||||||||||||||||
Total derivatives not designated as hedging instruments | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Total derivatives | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Total gross derivative instruments, before netting | $ | $ | $ | $ | |||||||||||||||||||
Less: Legally enforceable master netting agreements | |||||||||||||||||||||||
Less: Cash collateral received/posted | |||||||||||||||||||||||
Total gross derivative instruments, after netting (3) | $ | $ | $ | $ |
(1) | Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets. There is no fair value presented for contracts that are characterized as settled daily. |
(2) |
(3) | As of both June 30, 2019 and December 31, 2018, financial instruments posted of $ |
Three Months Ended June 30, 2019 | |||||||||||
Interest Income | Interest Expense | ||||||||||
Debt securities-taxable | Loans, including fees | Long-term borrowings | |||||||||
(In millions) | |||||||||||
Total amounts presented in the consolidated statements of income | $ | $ | $ | ||||||||
Gains/(losses) on fair value hedging relationships: | |||||||||||
Interest rate contracts: | |||||||||||
Amounts related to interest settlements on derivatives | $ | $ | $ | ( | ) | ||||||
Recognized on derivatives | ( | ) | |||||||||
Recognized on hedged items | ( | ) | |||||||||
Income (expense) recognized on fair value hedges | $ | $ | $ | ( | ) | ||||||
Gains/(losses) on cash flow hedging relationships: (1) | |||||||||||
Interest rate contracts: | |||||||||||
Realized gains (losses) reclassified from AOCI into net income (2) | $ | $ | ( | ) | $ | ||||||
Income (expense) recognized on cash flow hedges | $ | $ | ( | ) | $ |
Three Months Ended June 30, 2018 | |||||||||||
Interest Income | Interest Expense | ||||||||||
Debt securities-taxable | Loans, including fees | Long-term borrowings | |||||||||
(In millions) | |||||||||||
Total amounts presented in the consolidated statements of income | $ | $ | $ | ||||||||
Gains/(losses) on fair value hedging relationships: | |||||||||||
Interest rate contracts: | |||||||||||
Amounts related to interest settlements on derivatives | $ | ( | ) | $ | $ | ( | ) | ||||
Recognized on derivatives | ( | ) | |||||||||
Recognized on hedged items | ( | ) | |||||||||
Income (expense) recognized on fair value hedges | $ | ( | ) | $ | $ | ( | ) | ||||
Gains/(losses) on cash flow hedging relationships: (1) | |||||||||||
Interest rate contracts: | |||||||||||
Realized gains (losses) reclassified from AOCI into net income (2) | $ | $ | $ | ||||||||
Income (expense) recognized on cash flow hedges | $ | $ | $ |
Six Months Ended June 30, 2019 | |||||||||||
Interest Income | Interest Expense | ||||||||||
Debt securities-taxable | Loans, including fees | Long-term borrowings | |||||||||
(In millions) | |||||||||||
Total amounts presented in the consolidated statements of income | $ | $ | $ | ||||||||
Gains/(losses) on fair value hedging relationships: | |||||||||||
Interest rate contracts: | |||||||||||
Amounts related to interest settlements on derivatives | $ | $ | $ | ( | ) | ||||||
Recognized on derivatives | ( | ) | |||||||||
Recognized on hedged items | ( | ) | |||||||||
Income (expense) recognized on fair value hedges | $ | $ | $ | ( | ) | ||||||
Gains/(losses) on cash flow hedging relationships: (1) | |||||||||||
Interest rate contracts: | |||||||||||
Realized gains (losses) reclassified from AOCI into net income (2) | $ | $ | ( | ) | $ | ||||||
Income (expense) recognized on cash flow hedges | $ | $ | ( | ) | $ |
Six Months Ended June 30, 2018 | |||||||||||
Interest Income | Interest Expense | ||||||||||
Debt securities-taxable | Loans, including fees | Long-term borrowings | |||||||||
(In millions) | |||||||||||
Total amounts presented in the consolidated statements of income | $ | $ | $ | ||||||||
Gains/(losses) on fair value hedging relationships: | |||||||||||
Interest rate contracts: | |||||||||||
Amounts related to interest settlements on derivatives | $ | ( | ) | $ | $ | ( | ) | ||||
Recognized on derivatives | ( | ) | |||||||||
Recognized on hedged items | ( | ) | |||||||||
Income (expense) recognized on fair value hedges | $ | ( | ) | $ | $ | ( | ) | ||||
Gains/(losses) on cash flow hedging relationships: (1) | |||||||||||
Interest rate contracts: | |||||||||||
Realized gains (losses) reclassified from AOCI into net income (2) | $ | $ | $ | ||||||||
Income (expense) recognized on cash flow hedges | $ | $ | $ |
(1) | See Note 6 for gain or (loss) recognized for cash flow hedges in AOCI. |
(2) | Pre-tax |
June 30, 2019 | |||||||||||||||
Hedged Items Currently Designated | Hedged Items No Longer Designated | ||||||||||||||
Carrying Amount of Assets/(Liabilities) | Hedge Accounting Basis Adjustment | Carrying Amount of Assets/(Liabilities) | Hedge Accounting Basis Adjustment | ||||||||||||
(In millions) | |||||||||||||||
Debt securities available for sale | $ | $ | $ | $ | |||||||||||
Long-term borrowings | ( | ) | ( | ) |
December 31, 2018 | |||||||||||||||
Hedged Items Currently Designated | Hedged Items No Longer Designated | ||||||||||||||
Carrying Amount of Assets/(Liabilities) | Hedge Accounting Basis Adjustment | Carrying Amount of Assets/(Liabilities) | Hedge Accounting Basis Adjustment | ||||||||||||
(In millions) | |||||||||||||||
Debt securities available for sale | $ | $ | $ | $ | |||||||||||
Long-term borrowings | ( | ) |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
Derivatives Not Designated as Hedging Instruments | 2019 | 2018 | 2019 | 2018 | |||||||||||
(In millions) | |||||||||||||||
Capital markets income: | |||||||||||||||
Interest rate swaps | $ | ( | ) | $ | $ | ( | ) | $ | |||||||
Interest rate options | |||||||||||||||
Interest rate futures and forward commitments | |||||||||||||||
Other contracts | ( | ) | ( | ) | |||||||||||
Total capital markets income | |||||||||||||||
Mortgage income: | |||||||||||||||
Interest rate swaps | ( | ) | ( | ) | |||||||||||
Interest rate options | |||||||||||||||
Interest rate futures and forward commitments | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Total mortgage income | ( | ) | ( | ) | |||||||||||
$ | $ | $ | $ |
June 30, 2019 | December 31, 2018 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3(1) | Total Estimated Fair Value | Level 1 | Level 2 | Level 3(1) | Total Estimated Fair Value | |||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||||||
Debt securities available for sale: | ||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Federal agency securities | ||||||||||||||||||||||||||||||||
Mortgage-backed securities (MBS): | ||||||||||||||||||||||||||||||||
Residential agency | ||||||||||||||||||||||||||||||||
Residential non-agency | ||||||||||||||||||||||||||||||||
Commercial agency | ||||||||||||||||||||||||||||||||
Commercial non-agency | ||||||||||||||||||||||||||||||||
Corporate and other debt securities | ||||||||||||||||||||||||||||||||
Total debt securities available for sale | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Loans held for sale | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Marketable equity securities | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Residential mortgage servicing rights | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Interest rate swaps | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Interest rate options | ||||||||||||||||||||||||||||||||
Interest rate futures and forward commitments | ||||||||||||||||||||||||||||||||
Other contracts | ||||||||||||||||||||||||||||||||
Total derivative assets | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Interest rate swaps | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Interest rate options | ||||||||||||||||||||||||||||||||
Interest rate futures and forward commitments | ||||||||||||||||||||||||||||||||
Other contracts | ||||||||||||||||||||||||||||||||
Total derivative liabilities | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||||||
Loans held for sale | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Foreclosed property and other real estate |
(1) | All following disclosures related to Level 3 recurring and non-recurring assets do not include those deemed to be immaterial. |
Three Months Ended June 30, 2019 | |||||||||||||||||||||||||||||||
Opening Balance April 1, 2019 | Total Realized / Unrealized Gains or Losses | Purchases | Sales | Issuances | Settlements | Transfers into Level 3 | Transfers out of Level 3 | Closing Balance June 30, 2019 | |||||||||||||||||||||||
Included in Earnings | Included in Other Compre- hensive Income (Loss) | ||||||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||||
Level 3 Instruments Only | |||||||||||||||||||||||||||||||
Residential mortgage servicing rights | $ | ( | ) | (1) | $ |
Three Months Ended June 30, 2018 | |||||||||||||||||||||||||||||||
Opening Balance April 1, 2018 | Total Realized / Unrealized Gains or Losses | Purchases | Sales | Issuances | Settlements | Transfers into Level 3 | Transfers out of Level 3 | Closing Balance June 30, 2018 | |||||||||||||||||||||||
Included in Earnings | Included in Other Compre- hensive Income (Loss) | ||||||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||||
Level 3 Instruments Only | |||||||||||||||||||||||||||||||
Residential mortgage servicing rights | $ | ( | ) | (1) | $ |
Six Months Ended June 30, 2019 | |||||||||||||||||||||||||||||||
Opening Balance January 1, 2019 | Total Realized / Unrealized Gains or Losses | Purchases | Sales | Issuances | Settlements | Transfers into Level 3 | Transfers out of Level 3 | Closing Balance June 30, 2019 | |||||||||||||||||||||||
Included in Earnings | Included in Other Compre- hensive Income (Loss) | ||||||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||||
Level 3 Instruments Only | |||||||||||||||||||||||||||||||
Residential mortgage servicing rights | $ | ( | ) | (1) | $ |
Six Months Ended June 30, 2018 | |||||||||||||||||||||||||||||||
Opening Balance January 1, 2018 | Total Realized / Unrealized Gains or Losses | Purchases | Sales | Issuances | Settlements | Transfers into Level 3 | Transfers out of Level 3 | Closing Balance June 30, 2018 | |||||||||||||||||||||||
Included in Earnings | Included in Other Compre- hensive Income (Loss) | ||||||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||||
Level 3 Instruments Only | |||||||||||||||||||||||||||||||
Residential mortgage servicing rights | $ | (1) | $ |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
(In millions) | |||||||||||||||
Loans held for sale | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | |||
Foreclosed property and other real estate | ( | ) | ( | ) | ( | ) | ( | ) |
June 30, 2019 | |||||||
Level 3 Estimated Fair Value at June 30, 2019 | Valuation Technique | Unobservable Input(s) | Quantitative Range of Unobservable Inputs and (Weighted-Average) | ||||
(Dollars in millions) | |||||||
Recurring fair value measurements: | |||||||
Residential mortgage servicing rights(1) | $ | Discounted cash flow | Weighted-average CPR (%) | 5.1% - 45.0% (12.5%) | |||
OAS (%) | 5.7% - 13.0% (7.6%) |
December 31, 2018 | |||||||
Level 3 Estimated Fair Value at December 31, 2018 | Valuation Technique | Unobservable Input(s) | Quantitative Range of Unobservable Inputs and (Weighted-Average) | ||||
(Dollars in millions) | |||||||
Recurring fair value measurements: | |||||||
Residential mortgage servicing rights(1) | $ | Discounted cash flow | Weighted-average CPR (%) | 4.4% - 42.6% (9.0%) | |||
OAS (%) | 5.7% - 15.0% (7.6%) |
June 30, 2019 | December 31, 2018 | ||||||||||||||||||||||
Aggregate Fair Value | Aggregate Unpaid Principal | Aggregate Fair Value Less Aggregate Unpaid Principal | Aggregate Fair Value | Aggregate Unpaid Principal | Aggregate Fair Value Less Aggregate Unpaid Principal | ||||||||||||||||||
(In millions) | |||||||||||||||||||||||
Mortgage loans held for sale, at fair value | $ | $ | $ | $ | $ | $ |
Net gains (losses) resulting from changes in fair value | |||||||||||||||
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
(In millions) | |||||||||||||||
Mortgage loans held for sale, at fair value | $ | $ | $ | $ |
June 30, 2019 | |||||||||||||||||||
Carrying Amount | Estimated Fair Value(1) | Level 1 | Level 2 | Level 3 | |||||||||||||||
(In millions) | |||||||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | $ | $ | $ | $ | ||||||||||||||
Debt securities held to maturity | |||||||||||||||||||
Debt securities available for sale | |||||||||||||||||||
Loans held for sale | |||||||||||||||||||
Loans (excluding leases), net of unearned income and allowance for loan losses(2)(3) | |||||||||||||||||||
Other earning assets(4) | |||||||||||||||||||
Derivative assets | |||||||||||||||||||
Financial liabilities: | |||||||||||||||||||
Derivative liabilities | |||||||||||||||||||
Deposits | |||||||||||||||||||
Short-term borrowings | |||||||||||||||||||
Long-term borrowings | |||||||||||||||||||
Loan commitments and letters of credit |
(1) | Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred. |
(2) | The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. In the current whole loan market, financial investors are generally requiring a higher rate of return than the return inherent in loans if held to maturity. The fair value discount on the loan portfolio's net carrying amount at June 30, 2019 was $ |
(3) | Excluded from this table is the capital lease carrying amount of $ |
(4) | Excluded from this table is the operating lease carrying amount of $ |
December 31, 2018 | |||||||||||||||||||
Carrying Amount | Estimated Fair Value(1) | Level 1 | Level 2 | Level 3 | |||||||||||||||
(In millions) | |||||||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | $ | $ | $ | $ | ||||||||||||||
Debt securities held to maturity | |||||||||||||||||||
Debt securities available for sale | |||||||||||||||||||
Loans held for sale | |||||||||||||||||||
Loans (excluding leases), net of unearned income and allowance for loan losses(2)(3) | |||||||||||||||||||
Other earning assets(4) | |||||||||||||||||||
Derivative assets | |||||||||||||||||||
Financial liabilities: | |||||||||||||||||||
Derivative liabilities | |||||||||||||||||||
Deposits | |||||||||||||||||||
Short-term borrowings | |||||||||||||||||||
Long-term borrowings | |||||||||||||||||||
Loan commitments and letters of credit |
(1) | Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred. |
(2) | The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. In the current whole loan market, financial investors are generally requiring a higher rate of return than the return inherent in loans if held to maturity. The fair value discount on the loan portfolio's net carrying amount at December 31, 2018 was $ |
(3) | Excluded from this table is the capital lease carrying amount of $ |
(4) | Excluded from this table is the operating lease carrying amount of $ |
Three Months Ended June 30, 2019 | |||||||||||||||||||||||||||
Corporate Bank | Consumer Bank | Wealth Management | Other | Continuing Operations | Discontinued Operations | Consolidated | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Net interest income and other financing income (loss) | $ | $ | $ | $ | ( | ) | $ | $ | $ | ||||||||||||||||||
Provision (credit) for loan losses | ( | ) | |||||||||||||||||||||||||
Non-interest income | ( | ) | |||||||||||||||||||||||||
Non-interest expense | |||||||||||||||||||||||||||
Income (loss) before income taxes | ( | ) | |||||||||||||||||||||||||
Income tax expense (benefit) | ( | ) | |||||||||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | ( | ) | $ | $ | $ | ||||||||||||||||||
Average assets | $ | $ | $ | $ | $ | $ | $ |
Three Months Ended June 30, 2018 | |||||||||||||||||||||||||||
Corporate Bank | Consumer Bank | Wealth Management | Other | Continuing Operations | Discontinued Operations | Consolidated | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Net interest income and other financing income (loss) | $ | $ | $ | $ | ( | ) | $ | $ | $ | ||||||||||||||||||
Provision (credit) for loan losses | ( | ) | |||||||||||||||||||||||||
Non-interest income | |||||||||||||||||||||||||||
Non-interest expense | |||||||||||||||||||||||||||
Income (loss) before income taxes | ( | ) | ( | ) | |||||||||||||||||||||||
Income tax expense (benefit) | ( | ) | |||||||||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | $ | $ | ( | ) | $ | ||||||||||||||||||
Average assets | $ | $ | $ | $ | $ | $ | $ |
Six Months Ended June 30, 2019 | |||||||||||||||||||||||||||
Corporate Bank | Consumer Bank | Wealth Management | Other | Continuing Operations | Discontinued Operations | Consolidated | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Net interest income and other financing income (loss) | $ | $ | $ | $ | ( | ) | $ | $ | $ | ||||||||||||||||||
Provision (credit) for loan losses | ( | ) | |||||||||||||||||||||||||
Non-interest income | ( | ) | |||||||||||||||||||||||||
Non-interest expense | |||||||||||||||||||||||||||
Income (loss) before income taxes | ( | ) | |||||||||||||||||||||||||
Income tax expense (benefit) | ( | ) | |||||||||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Average assets | $ | $ | $ | $ | $ | $ | $ |
Six Months Ended June 30, 2018 | |||||||||||||||||||||||||||
Corporate Bank | Consumer Bank | Wealth Management | Other | Continuing Operations | Discontinued Operations | Consolidated | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Net interest income and other financing income (loss) | $ | $ | $ | $ | ( | ) | $ | $ | $ | ||||||||||||||||||
Provision (credit) for loan losses | ( | ) | |||||||||||||||||||||||||
Non-interest income | |||||||||||||||||||||||||||
Non-interest expense | |||||||||||||||||||||||||||
Income (loss) before income taxes | ( | ) | |||||||||||||||||||||||||
Income tax expense (benefit) | ( | ) | |||||||||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | $ | $ | ( | ) | $ | ||||||||||||||||||
Average assets | $ | $ | $ | $ | $ | $ | $ |
June 30, 2019 | December 31, 2018 | ||||||
(In millions) | |||||||
Unused commitments to extend credit | $ | $ | |||||
Standby letters of credit | |||||||
Commercial letters of credit | |||||||
Liabilities associated with standby letters of credit | |||||||
Assets associated with standby letters of credit | |||||||
Reserve for unfunded credit commitments |
Three Months Ended June 30, 2019 | |||||||||||||||||||||||||||
Corporate Bank | Consumer Bank | Wealth Management | Other Segment Revenue | Other(1) | Continuing Operations | Discontinued Operations | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Service charges on deposit accounts | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Card and ATM fees | ( | ) | |||||||||||||||||||||||||
Investment management and trust fee income | |||||||||||||||||||||||||||
Capital markets income | |||||||||||||||||||||||||||
Mortgage income | |||||||||||||||||||||||||||
Investment services fee income | |||||||||||||||||||||||||||
Commercial credit fee income | |||||||||||||||||||||||||||
Bank-owned life insurance | |||||||||||||||||||||||||||
Securities gains (losses), net | ( | ) | ( | ) | |||||||||||||||||||||||
Market value adjustments on employee benefit assets - defined benefit | |||||||||||||||||||||||||||
Market value adjustments on employee benefit assets - other | ( | ) | ( | ) | |||||||||||||||||||||||
Other miscellaneous income | |||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | $ |
Three Months Ended June 30, 2018 | |||||||||||||||||||||||||||
Corporate Bank | Consumer Bank | Wealth Management | Other Segment Revenue | Other(1) | Continuing Operations | Discontinued Operations | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Service charges on deposit accounts | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Card and ATM fees | ( | ) | |||||||||||||||||||||||||
Investment management and trust fee income | |||||||||||||||||||||||||||
Capital markets income | |||||||||||||||||||||||||||
Mortgage income | |||||||||||||||||||||||||||
Investment services fee income | |||||||||||||||||||||||||||
Commercial credit fee income | |||||||||||||||||||||||||||
Bank-owned life insurance | |||||||||||||||||||||||||||
Securities gains (losses), net | |||||||||||||||||||||||||||
Market value adjustments on employee benefit assets - defined benefit | ( | ) | ( | ) | |||||||||||||||||||||||
Market value adjustments on employee benefit assets - other | ( | ) | ( | ) | |||||||||||||||||||||||
Insurance commissions and fees | |||||||||||||||||||||||||||
Other miscellaneous income | |||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | $ |
Six Months Ended June 30, 2019 | |||||||||||||||||||||||||||
Corporate Bank | Consumer Bank | Wealth Management | Other Segment Revenue | Other(1) | Continuing Operations | Discontinued Operations | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Service charges on deposit accounts | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Card and ATM fees | ( | ) | |||||||||||||||||||||||||
Investment management and trust fee income | |||||||||||||||||||||||||||
Capital markets income | |||||||||||||||||||||||||||
Mortgage income | |||||||||||||||||||||||||||
Investment services fee income | |||||||||||||||||||||||||||
Commercial credit fee income | |||||||||||||||||||||||||||
Bank-owned life insurance | |||||||||||||||||||||||||||
Securities gains (losses), net | ( | ) | ( | ) | |||||||||||||||||||||||
Market value adjustments on employee benefit assets - defined benefit | |||||||||||||||||||||||||||
Market value adjustments on employee benefit assets - other | ( | ) | ( | ) | |||||||||||||||||||||||
Other miscellaneous income | ( | ) | |||||||||||||||||||||||||
$ | $ | $ | $ | ( | ) | $ | $ | $ |
Six Months Ended June 30, 2018 | |||||||||||||||||||||||||||
Corporate Bank | Consumer Bank | Wealth Management | Other Segment Revenue | Other(1) | Continuing Operations | Discontinued Operations | |||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Service charges on deposit accounts | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Card and ATM fees | ( | ) | |||||||||||||||||||||||||
Investment management and trust fee income | |||||||||||||||||||||||||||
Capital markets income | |||||||||||||||||||||||||||
Mortgage income | |||||||||||||||||||||||||||
Investment services fee income | |||||||||||||||||||||||||||
Commercial credit fee income | |||||||||||||||||||||||||||
Bank-owned life insurance | |||||||||||||||||||||||||||
Securities gains (losses), net | |||||||||||||||||||||||||||
Market value adjustments on employee benefit assets - defined benefit | ( | ) | ( | ) | |||||||||||||||||||||||
Market value adjustments on employee benefit assets - other | ( | ) | ( | ) | |||||||||||||||||||||||
Insurance commissions and fees | |||||||||||||||||||||||||||
Other miscellaneous income | |||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | $ |
(1) |
Standard | Description | Required Date of Adoption | Effect on Regions' financial statements or other significant matters |
Standards Adopted (or partially adopted) in 2019 | |||
ASU 2016-02, Leases ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 ASU 2018-10, Narrow Amendments to Topic 842 ASU 2018-11, Targeted Improvements to Topic 842 ASU 2018-20, Narrow-Scope Improvements for Lessors ASU 2019-01, Codification Improvements | This ASU creates ASC Topic 842, Leases, and supersedes Topic 840, Leases. The new guidance requires lessees to record a right-of-use asset and a corresponding liability equal to the present value of future rental payments on their balance sheets for all leases with a term greater than one year. There are not significant changes to lessor accounting; however, there were certain improvements made to align lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. This guidance expands both quantitative and qualitative required disclosures. | January 1, 2019 | Regions adopted the standard on January 1, 2019 using the optional transition method, which allowed for a modified retrospective method of adoption with an immaterial cumulative effect adjustment to retained earnings without restating comparable periods. Regions elected the relief package of practical expedients for which there is no requirement to reassess existence of leases, their classification, and initial direct costs. Regions also applied the exemption for short-term leases with a term of less than one year, whereby Regions does not recognize a lease liability or right-of-use asset on the balance sheet but instead recognizes lease payments as an expense over the lease term as appropriate. For property leases, Regions did not elect the practical expedient to combine lease and non-lease components. The standard resulted in recognition of right-of-use assets and lease liabilities for operating leases, while accounting for finance leases remains largely unchanged. Adoption of the standard resulted in the recognition of additional right-of-use assets and lease liabilities for operating leases of approximately $451 million as of January 1, 2019. Operating lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most leases do not state an implicit rate, Regions utilizes the incremental borrowing rate based on information available at the commencement date to determine the present value of the lease payments. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Lease expenses are recognized on a straight-line basis over the lease term. |
ASU 2017-08, Receivables- Nonrefundable Fees and Other Costs | This ASU amends Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs, to shorten the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Current guidance generally requires entities to amortize a premium as a yield adjustment over the contractual life of the instrument. Shortening the amortization period is generally expected to more closely align the recognition of interest income with expectations incorporated into the pricing of the underlying securities. The amendments do not affect the accounting treatment of discounts. This ASU should be adopted on a modified retrospective basis. | January 1, 2019 | The adoption of this guidance did not have a material impact. |
ASU 2018-07, Compensation - Stock Compensation | This ASU amends and expands the scope of Topic 718, Compensation-Stock Compensation, to include share-based payment transactions for acquiring goods and services for non-employees. Under this guidance, the accounting for share-based payments to non-employees and employees will be substantially aligned. The measurement of equity-classified non-employee awards will now be fixed at the grant date. | January 1, 2019 | The adoption of this guidance did not have a material impact. |
ASU 2018-09, Codification Improvements | The FASB issued this ASU to clarify, improve, and correct errors in the Codification. The ASU covers nine amendments, which affect a wide variety of Topics including business combinations, debt, derivatives and hedging, and defined contribution pension plans. Some amendments do not require transition guidance and are effective upon issuance, while others will be applicable for Regions starting in 2019. | January 1, 2019 | The adoption of this guidance did not have a material impact. |
ASU 2018-16, Derivatives and Hedging | This ASU amends Topic 815, Derivatives and Hedging, to expand the list of U.S. benchmark interest rates permitted in applying hedge accounting. The amendments permit all entities that elect to apply hedge accounting to benchmark interest rate hedges under ASC 815, Derivatives and Hedging, to use the OIS rate based on the SOFR as a U.S. benchmark interest rate in addition to the four eligible U.S. benchmark interest rates. The amendments should be applied prospectively for qualifying new or redesignated hedging relationships entered into on or after the date of adoption. | January 1, 2019 | The adoption of this guidance did not have a material impact. |
Standard | Description | Required Date of Adoption | Effect on Regions' financial statements or other significant matters |
Standards Not Yet Adopted | |||
ASU 2016-13, Measurement of Credit Losses on Financial Instruments ASU 2018-19, Codification Improvements to Topic 326 ASU 2019-04, Codification Improvements to Topic 326 ASU 2019-05, Targeted Transition Relief to Topic 326 | This ASU amends Topic 326, Financial Instruments- Credit Losses to replace the current incurred loss accounting model with a current expected credit loss approach (CECL) for financial instruments measured at amortized cost and other commitments to extend credit. The amendments require entities to consider all available relevant information when estimating current expected credit losses, including details about past events, current conditions, and reasonable and supportable forecasts. The resulting allowance for credit losses is to reflect the portion of the amortized cost basis that the entity does not expect to collect. The amendments also eliminate the current accounting model for purchased credit impaired loans and debt securities. Additional quantitative and qualitative disclosures are required upon adoption. While the CECL model does not apply to available for sale debt securities, the ASU does require entities to record an allowance when recognizing credit losses for available for sale securities, rather than reduce the amortized cost of the securities by direct write-offs. The ASU should be adopted on a modified retrospective basis. Entities that have loans accounted for under ASC 310-30 at the time of adoption should prospectively apply the guidance in this amendment for purchase credit deteriorated assets. | January 1, 2020 Early adoption is permitted. | Regions’ cross-functional implementation team, which is co-led by Finance and Risk Management, has developed a project plan that results in running a CECL parallel production during 2019 and the adoption of the standard in the first quarter of 2020. Key project implementation activities for 2019 include finalization of models, the qualitative framework, and the production process; completion of documentation, policies and disclosures; development of supporting analytics; and process and control testing. The project implementation plan establishes a parallel processing timeline which began with a limited parallel run in the first quarter of 2019. Parallel runs will be enhanced throughout the year. The second quarter parallel run included enhanced analytics, the qualitative framework and a parallel governance/decisioning process. A suite of controls including governance, data, forecast and model controls is in place to support the parallel process. Controls will continually be challenged and enhanced throughout the remainder of 2019, specifically regarding the precision of the controls and enhanced documentation. Regions provides updates to senior management and to the Audit Committee and Risk Committee of the Board of Directors. These communications provide an update on the status of the implementation as discussed above. Regions expects that the allowance for credit losses of $903 million may increase by approximately $400 million to $600 million upon adoption. This estimate is based on March 31, 2019 loan exposure balances and Regions' internally developed macroeconomic forecast, which provides for a relatively stable macroeconomic environment over a two year reasonable and supportable forecast period. Regions currently utilizes a two year reasonable and supportable forecast period for all portfolio segments which closely aligns with other internal forecast periods. After the forecast period, the Company reverts to longer term historical loss experience, adjusted for prepayments, to estimate losses over the remaining life. The estimated increase in the allowance is primarily the result of significant increases within residential first mortgage, home equity lending, consumer credit card and indirect- other consumer loan classes. Residential first mortgage and home equity lending products are impacted by having the longest time to maturity. Additionally, home equity lines of credit have the majority of future principal payment resets not beginning until 2023 and beyond with nearly 50% of the portfolio in a second lien position. Both consumer credit card and a significant portion of the indirect-other loan classes are unsecured. Regions' credit card accounts are primarily revolving, as opposed to accounts in which customers pay off their balances monthly. The disclosed estimate is subject to change based on continuing review and challenge of the models, assumptions, methodologies and judgments. The impact at adoption will also be influenced by the loan portfolio composition and quality at the adoption date, as well as, macroeconomic conditions and forecasts at that time. The impact will be reflected as an adjustment to beginning retained earnings, net of income taxes, at adoption. Federal banking regulatory agencies have provided relief for an initial capital decrease at adoption by allowing the impact to be phased-in over four years on a straight-line basis. The adoption of CECL in 2020 will also impact Regions' ongoing earnings, perhaps materially. Regions expects no material allowance on held to maturity securities because most of this portfolio consists of agency-backed securities that inherently have an immaterial risk of loss. Additionally, Regions expects no material impact to available for sale securities. |
Standard | Description | Required Date of Adoption | Effect on Regions' financial statements or other significant matters |
Standards Not Yet Adopted | |||
ASU 2017-04, Simplifying the Test for Goodwill Impairment | This ASU amends Topic 350, Intangibles-Goodwill and Other, and eliminates Step 2 from the goodwill impairment test. | January 1, 2020 Early adoption is permitted. | Regions believes the adoption of this guidance will not have a material impact. Regions does not plan to early adopt. |
ASU 2018-15, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement | This ASU amends Topic 350-40, Intangibles-Goodwill and Other-Internal-Use Software, regarding a customer's accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement that is hosted by the vendor, i.e. a service contract. Customers will apply the same criteria for capitalizing implementation costs as they would for an arrangement that has a software license. The amendments also prescribe the balance sheet, income statement, and cash flow classification of the capitalized implementation costs and related amortization expense, and require additional quantitative and qualitative disclosures. | January 1, 2020 Early adoption is permitted. | Regions believes the adoption of this guidance will not have a material impact. Regions does not plan to early adopt. |
ASU 2018-17, Targeted Improvements to Related Party Guidance for Variable Interest Entities | This ASU amends Topic 810, Consolidation, guidance on how all reporting entities evaluate indirect interests held through related parties in common control arrangements when determining whether fees paid to decision makers and service providers are variable interests. | January 1, 2020 Early adoption is permitted. | Regions believes the adoption of this guidance will not have a material impact. Regions does not plan to early adopt. |
ASU 2019-04, Codification Improvements to Topics 815 and 825 | This ASU amends Topic 815, Derivatives and Hedging, by providing clarification on ASU 2017-12, which the Company previously adopted. The amendment provides clarity on the term used to measure the change in fair value on a partial term hedge of interest rate risk. The amendment also provides additional guidance on the amortization of the basis adjustment on partial term hedges. This ASU also amends Topic 825, Financial Instruments, by providing clarification on ASU 2016-01, which the Company previously adopted. The amendment clarifies that an entity must remeasure a security without a readily determinable fair value at fair value in accordance with Topic 820 when an orderly transaction is identified for an identical or similar investment. | January 1, 2020 Early adoption is permitted. | Regions believes the adoption of this guidance will not have a material impact. Regions does not plan to early adopt. |
2019 Expectations | ||
Category | Expectation | |
Full year adjusted average loan growth | Low to mid-single digits | |
Full year adjusted total revenue growth | Lower end of 2%-4% (1) | |
Full year adjusted non-interest expense | Stable to down slightly (2) | |
Net charge-offs / average loans | 40-50 basis points | |
Effective tax rate | 20%-22% | |
Expect to generate positive adjusted operating leverage. |
(1) | Revised from previous expectation of 2%-4%. |
(2) | Revised from previous expectation of relatively stable. |
June 30, 2019 | December 31, 2018 | ||||||
(In millions) | |||||||
U.S. Treasury securities | $ | 176 | $ | 280 | |||
Federal agency securities | 44 | 43 | |||||
Mortgage-backed securities: | |||||||
Residential agency | 17,538 | 17,475 | |||||
Residential non-agency | 2 | 2 | |||||
Commercial agency | 4,369 | 4,466 | |||||
Commercial non-agency | 707 | 760 | |||||
Corporate and other debt securities | 1,278 | 1,185 | |||||
$ | 24,114 | $ | 24,211 |
June 30, 2019 | December 31, 2018 | ||||||
(In millions, net of unearned income) | |||||||
Commercial and industrial | $ | 40,438 | $ | 39,282 | |||
Commercial real estate mortgage—owner-occupied | 5,455 | 5,549 | |||||
Commercial real estate construction—owner-occupied | 415 | 384 | |||||
Total commercial | 46,308 | 45,215 | |||||
Commercial investor real estate mortgage | 4,795 | 4,650 | |||||
Commercial investor real estate construction | 1,658 | 1,786 | |||||
Total investor real estate | 6,453 | 6,436 | |||||
Residential first mortgage | 14,253 | 14,276 | |||||
Home equity | 8,802 | 9,257 | |||||
Indirect—vehicles | 2,415 | 3,053 | |||||
Indirect—other consumer | 2,796 | 2,349 | |||||
Consumer credit card | 1,303 | 1,345 | |||||
Other consumer | 1,223 | 1,221 | |||||
Total consumer | 30,792 | 31,501 | |||||
$ | 83,553 | $ | 83,152 |
June 30, 2019 | |||||||||||
Loans | Unfunded Commitments | Total Exposure | |||||||||
(In millions) | |||||||||||
Administrative, support, waste and repair | $ | 1,402 | $ | 942 | $ | 2,344 | |||||
Agriculture | 504 | 235 | 739 | ||||||||
Educational services | 2,675 | 604 | 3,279 | ||||||||
Energy | 2,374 | 2,328 | 4,702 | ||||||||
Financial services | 4,305 | 3,818 | 8,123 | ||||||||
Government and public sector | 2,791 | 518 | 3,309 | ||||||||
Healthcare | 3,641 | 1,791 | 5,432 | ||||||||
Information | 1,678 | 794 | 2,472 | ||||||||
Manufacturing | 4,574 | 3,864 | 8,438 | ||||||||
Professional, scientific and technical services | 1,814 | 1,249 | 3,063 | ||||||||
Real estate | 6,731 | 6,835 | 13,566 | ||||||||
Religious, leisure, personal and non-profit services | 1,689 | 787 | 2,476 | ||||||||
Restaurant, accommodation and lodging | 2,016 | 519 | 2,535 | ||||||||
Retail trade | 2,533 | 1,869 | 4,402 | ||||||||
Transportation and warehousing | 1,961 | 1,168 | 3,129 | ||||||||
Utilities | 1,759 | 2,428 | 4,187 | ||||||||
Wholesale goods | 3,511 | 2,470 | 5,981 | ||||||||
Other (1) | 350 | 2,915 | 3,265 | ||||||||
Total commercial | $ | 46,308 | $ | 35,134 | $ | 81,442 |
December 31, 2018 (2) | |||||||||||
Loans | Unfunded Commitments | Total Exposure | |||||||||
(In millions) | |||||||||||
Administrative, support, waste and repair | $ | 1,353 | $ | 882 | $ | 2,235 | |||||
Agriculture | 550 | 235 | 785 | ||||||||
Educational services | 2,500 | 606 | 3,106 | ||||||||
Energy | 2,275 | 2,408 | 4,683 | ||||||||
Financial services | 4,063 | 3,670 | 7,733 | ||||||||
Government and public sector | 2,826 | 506 | 3,332 | ||||||||
Healthcare | 3,854 | 1,869 | 5,723 | ||||||||
Information | 1,446 | 1,002 | 2,448 | ||||||||
Manufacturing | 4,543 | 4,061 | 8,604 | ||||||||
Professional, scientific and technical services | 1,730 | 1,434 | 3,164 | ||||||||
Real estate | 6,696 | 6,567 | 13,263 | ||||||||
Religious, leisure, personal and non-profit services | 1,735 | 766 | 2,501 | ||||||||
Restaurant, accommodation and lodging | 2,071 | 590 | 2,661 | ||||||||
Retail trade | 2,362 | 2,267 | 4,629 | ||||||||
Transportation and warehousing | 1,869 | 974 | 2,843 | ||||||||
Utilities | 1,729 | 2,287 | 4,016 | ||||||||
Wholesale goods | 3,356 | 2,549 | 5,905 | ||||||||
Other (1) | 257 | 2,458 | 2,715 | ||||||||
Total commercial | $ | 45,215 | $ | 35,131 | $ | 80,346 |
(1) | "Other" contains balances related to non-classifiable and invalid business industry codes offset by payments in process and fee accounts that are not available at the loan level. |
(2) | As customers' businesses evolve (e.g. up or down the vertical manufacturing chain), Regions may need to change the assigned business industry code used to define the customer relationship. When these changes occur, Regions does not recast the customer history for prior periods into the new classification because the business industry code used in the prior period was deemed appropriate. As a result, comparable period changes may be impacted. |
First Lien | % of Total | Second Lien | % of Total | Total | |||||||||||||
(Dollars in millions) | |||||||||||||||||
2019 | $ | 38 | 0.68 | % | $ | 33 | 0.59 | % | $ | 71 | |||||||
2020 | 93 | 1.68 | 69 | 1.24 | 162 | ||||||||||||
2021 | 114 | 2.06 | 101 | 1.82 | 215 | ||||||||||||
2022 | 123 | 2.22 | 120 | 2.15 | 243 | ||||||||||||
2023 | 158 | 2.84 | 142 | 2.56 | 300 | ||||||||||||
2024-2028 | 2,220 | 39.92 | 2,093 | 37.63 | 4,313 | ||||||||||||
2029-2033 | 143 | 2.56 | 111 | 2.00 | 254 | ||||||||||||
Thereafter | 1 | 0.02 | 2 | 0.03 | 3 | ||||||||||||
Total | $ | 2,890 | 51.98 | % | $ | 2,671 | 48.02 | % | $ | 5,561 |
June 30, 2019 | December 31, 2018 | ||||||||||||||||||||||
Residential First Mortgage | Home Equity | Residential First Mortgage | Home Equity | ||||||||||||||||||||
1st Lien | 2nd Lien | 1st Lien | 2nd Lien | ||||||||||||||||||||
(In millions) | |||||||||||||||||||||||
Estimated current LTV: | |||||||||||||||||||||||
Above 100% | $ | 38 | $ | 21 | $ | 34 | $ | 64 | $ | 28 | $ | 52 | |||||||||||
80% - 100% | 1,740 | 139 | 281 | 1,720 | 168 | 346 | |||||||||||||||||
Below 80% | 12,191 | 5,601 | 2,554 | 12,117 | 5,852 | 2,627 | |||||||||||||||||
Data not available | 284 | 63 | 109 | 375 | 66 | 118 | |||||||||||||||||
$ | 14,253 | $ | 5,824 | $ | 2,978 | $ | 14,276 | $ | 6,114 | $ | 3,143 |
June 30, 2019 | |||||||||||||||||||||||||||
Residential First Mortgage | Home Equity | Indirect—Vehicles | Indirect—Other Consumer | Consumer Credit Card | Other Consumer | ||||||||||||||||||||||
1st Lien | 2nd Lien | ||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Below 620 | $ | 699 | $ | 248 | $ | 134 | $ | 238 | $ | 64 | $ | 99 | $ | 69 | |||||||||||||
620-680 | 739 | 407 | 232 | 259 | 248 | 224 | 147 | ||||||||||||||||||||
681-720 | 1,253 | 643 | 353 | 297 | 495 | 277 | 223 | ||||||||||||||||||||
Above 720 | 11,215 | 4,399 | 2,211 | 1,573 | 1,855 | 695 | 719 | ||||||||||||||||||||
Data not available | 347 | 127 | 48 | 48 | 134 | 8 | 65 | ||||||||||||||||||||
$ | 14,253 | $ | 5,824 | $ | 2,978 | $ | 2,415 | $ | 2,796 | $ | 1,303 | $ | 1,223 |
December 31, 2018 | |||||||||||||||||||||||||||
Residential First Mortgage | Home Equity | Indirect—Vehicles | Indirect—Other Consumer | Consumer Credit Card | Other Consumer | ||||||||||||||||||||||
1st Lien | 2nd Lien | ||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Below 620 | $ | 700 | $ | 239 | $ | 142 | $ | 272 | $ | 56 | $ | 98 | $ | 69 | |||||||||||||
620-680 | 747 | 429 | 259 | 332 | 212 | 229 | 148 | ||||||||||||||||||||
681-720 | 1,270 | 708 | 376 | 384 | 405 | 288 | 223 | ||||||||||||||||||||
Above 720 | 11,104 | 4,610 | 2,316 | 1,992 | 1,474 | 721 | 704 | ||||||||||||||||||||
Data not available | 455 | 128 | 50 | 73 | 202 | 9 | 77 | ||||||||||||||||||||
$ | 14,276 | $ | 6,114 | $ | 3,143 | $ | 3,053 | $ | 2,349 | $ | 1,345 | $ | 1,221 |
Six Months Ended June 30 | |||||||
2019 | 2018 | ||||||
(Dollars in millions) | |||||||
Allowance for loan losses at beginning of year | $ | 840 | $ | 934 | |||
Loans charged-off: | |||||||
Commercial and industrial | 69 | 54 | |||||
Commercial real estate mortgage—owner-occupied | 5 | 10 | |||||
Commercial investor real estate mortgage | — | 8 | |||||
Commercial investor real estate construction | — | — | |||||
Residential first mortgage | 3 | 9 | |||||
Home equity | 11 | 14 | |||||
Indirect—vehicles | 15 | 21 | |||||
Indirect—other consumer | 35 | 22 | |||||
Consumer credit card | 34 | 31 | |||||
Other consumer | 43 | 38 | |||||
215 | 207 | ||||||
Recoveries of loans previously charged-off: | |||||||
Commercial and industrial | 12 | 20 | |||||
Commercial real estate mortgage—owner-occupied | 3 | 4 | |||||
Commercial investor real estate mortgage | 1 | 3 | |||||
Commercial investor real estate construction | 1 | 1 | |||||
Residential first mortgage | 2 | 4 | |||||
Home equity | 8 | 9 | |||||
Indirect—vehicles | 7 | 9 | |||||
Indirect—other consumer | — | — | |||||
Consumer credit card | 4 | 4 | |||||
Other consumer | 7 | 7 | |||||
45 | 61 | ||||||
Net charge-offs: | |||||||
Commercial and industrial | 57 | 34 | |||||
Commercial real estate mortgage—owner-occupied | 2 | 6 | |||||
Commercial investor real estate mortgage | (1 | ) | 5 | ||||
Commercial investor real estate construction | (1 | ) | (1 | ) | |||
Residential first mortgage | 1 | 5 | |||||
Home equity | 3 | 5 | |||||
Indirect—vehicles | 8 | 12 | |||||
Indirect—other consumer | 35 | 22 | |||||
Consumer credit card | 30 | 27 | |||||
Other consumer | 36 | 31 | |||||
170 | 146 | ||||||
Provision (credit) for loan losses | 183 | 50 | |||||
Allowance for loan losses at June 30 | $ | 853 | $ | 838 | |||
Reserve for unfunded credit commitments at beginning of year | $ | 51 | $ | 53 | |||
Provision (credit) for unfunded credit losses | (1 | ) | (5 | ) | |||
Reserve for unfunded credit commitments at June 30 | $ | 50 | $ | 48 | |||
Allowance for credit losses at June 30 | $ | 903 | $ | 886 | |||
Loans, net of unearned income, outstanding at end of period | $ | 83,553 | $ | 80,478 | |||
Average loans, net of unearned income, outstanding for the period | $ | 83,816 | $ | 79,924 | |||
Ratios: | |||||||
Allowance for loan losses at end of period to loans, net of unearned income | 1.02 | % | 1.04 | % | |||
Allowance for loan losses at end of period to non-performing loans, excluding loans held for sale | 160 | % | 141 | % | |||
Net charge-offs as percentage of average loans, net of unearned income (annualized) | 0.41 | % | 0.37 | % |
June 30, 2019 | December 31, 2018 | ||||||||||||||
Loan Balance | Allowance for Loan Losses | Loan Balance | Allowance for Loan Losses | ||||||||||||
(In millions) | |||||||||||||||
Accruing: | |||||||||||||||
Commercial | $ | 101 | $ | 13 | $ | 108 | $ | 17 | |||||||
Investor real estate | 15 | 1 | 14 | 1 | |||||||||||
Residential first mortgage | 179 | 18 | 170 | 16 | |||||||||||
Home equity | 168 | 8 | 189 | 6 | |||||||||||
Consumer credit card | 1 | — | 1 | — | |||||||||||
Other consumer | 5 | — | 6 | — | |||||||||||
469 | 40 | 488 | 40 | ||||||||||||
Non-accrual status or 90 days past due and still accruing: | |||||||||||||||
Commercial | 182 | 30 | 183 | 18 | |||||||||||
Investor real estate | 5 | — | 5 | — | |||||||||||
Residential first mortgage | 33 | 3 | 38 | 4 | |||||||||||
Home equity | 14 | 1 | 15 | — | |||||||||||
234 | 34 | 241 | 22 | ||||||||||||
Total TDRs - Loans | $ | 703 | $ | 74 | $ | 729 | $ | 62 | |||||||
TDRs - Held For Sale | 7 | — | 5 | — | |||||||||||
Total TDRs | $ | 710 | $ | 74 | $ | 734 | $ | 62 |
Six Months Ended June 30, 2019 | Six Months Ended June 30, 2018 | ||||||||||||||
Commercial | Investor Real Estate | Commercial | Investor Real Estate | ||||||||||||
(In millions) | |||||||||||||||
Balance, beginning of period | $ | 291 | $ | 19 | $ | 347 | $ | 91 | |||||||
Inflows | 100 | 2 | 207 | 48 | |||||||||||
Outflows: | |||||||||||||||
Charge-offs | (14 | ) | — | (18 | ) | — | |||||||||
Payments, sales and other (1) | (94 | ) | (1 | ) | (200 | ) | (98 | ) | |||||||
Balance, end of period | $ | 283 | $ | 20 | $ | 336 | $ | 41 |
June 30, 2019 | December 31, 2018 | ||||||
(Dollars in millions) | |||||||
Non-performing loans: | |||||||
Commercial and industrial | $ | 347 | $ | 307 | |||
Commercial real estate mortgage—owner-occupied | 68 | 67 | |||||
Commercial real estate construction—owner-occupied | 15 | 8 | |||||
Total commercial | 430 | 382 | |||||
Commercial investor real estate mortgage | 8 | 11 | |||||
Total investor real estate | 8 | 11 | |||||
Residential first mortgage | 34 | 40 | |||||
Home equity | 61 | 63 | |||||
Total consumer | 95 | 103 | |||||
Total non-performing loans, excluding loans held for sale | 533 | 496 | |||||
Non-performing loans held for sale | 11 | 10 | |||||
Total non-performing loans(1) | 544 | 506 | |||||
Foreclosed properties | 55 | 52 | |||||
Non-marketable investments received in foreclosure | 5 | 8 | |||||
Total non-performing assets(1) | $ | 604 | $ | 566 | |||
Accruing loans 90 days past due: | |||||||
Commercial and industrial | $ | 11 | $ | 8 | |||
Total commercial | 11 | 8 | |||||
Residential first mortgage(2) | 61 | 66 | |||||
Home equity | 40 | 34 | |||||
Indirect—vehicles | 6 | 9 | |||||
Indirect—other consumer | 2 | 1 | |||||
Consumer credit card | 20 | 20 | |||||
Other consumer | 4 | 5 | |||||
Total consumer | 133 | 135 | |||||
$ | 144 | $ | 143 | ||||
Restructured loans not included in the categories above | $ | 469 | $ | 488 | |||
Non-performing loans(1) to loans and non-performing loans held for sale | 0.64 | % | 0.61 | % | |||
Non-performing assets(1) to loans, foreclosed properties, non-marketable investments, and non-performing loans held for sale | 0.72 | % | 0.68 | % |
(1) | Excludes accruing loans 90 days past due. |
(2) | Excludes residential first mortgage loans that are 100% guaranteed by the FHA and all guaranteed loans sold to the GNMA where Regions has the right but not the obligation to repurchase. Total 90 days or more past due guaranteed loans excluded were $66 million at June 30, 2019 and $84 million at December 31, 2018. |
Non-Accrual Loans, Excluding Loans Held for Sale Six Months Ended June 30, 2019 | |||||||||||||||
Commercial | Investor Real Estate | Consumer(1) | Total | ||||||||||||
(In millions) | |||||||||||||||
Balance at beginning of period | $ | 382 | $ | 11 | $ | 103 | $ | 496 | |||||||
Additions | 250 | 1 | — | 251 | |||||||||||
Net payments/other activity | (82 | ) | (4 | ) | (8 | ) | (94 | ) | |||||||
Return to accrual | (13 | ) | — | — | (13 | ) | |||||||||
Charge-offs on non-accrual loans(2) | (63 | ) | — | — | (63 | ) | |||||||||
Transfers to held for sale(3) | (22 | ) | — | — | (22 | ) | |||||||||
Transfers to real estate owned | (2 | ) | — | — | (2 | ) | |||||||||
Sales | (20 | ) | — | — | (20 | ) | |||||||||
Balance at end of period | $ | 430 | $ | 8 | $ | 95 | $ | 533 |
Non-Accrual Loans, Excluding Loans Held for Sale Six Months Ended June 30, 2018 | |||||||||||||||
Commercial | Investor Real Estate | Consumer(1) | Total | ||||||||||||
(In millions) | |||||||||||||||
Balance at beginning of period | $ | 528 | $ | 6 | $ | 116 | $ | 650 | |||||||
Additions | 204 | 19 | — | 223 | |||||||||||
Net payments/other activity | (145 | ) | (3 | ) | (9 | ) | (157 | ) | |||||||
Return to accrual | (24 | ) | (1 | ) | — | (25 | ) | ||||||||
Charge-offs on non-accrual loans(2) | (58 | ) | (8 | ) | — | (66 | ) | ||||||||
Transfers to held for sale(3) | (14 | ) | — | (3 | ) | (17 | ) | ||||||||
Transfers to real estate owned | (2 | ) | — | — | (2 | ) | |||||||||
Sales | (2 | ) | (9 | ) | — | (11 | ) | ||||||||
Balance at end of period | $ | 487 | $ | 4 | $ | 104 | $ | 595 |
(1) | All net activity within the consumer portfolio segment other than sales and transfers to held for sale (including related charge-offs) is included as a single net number within the net payments/other activity line. |
(2) | Includes charge-offs on loans on non-accrual status and charge-offs taken upon sale and transfer of non-accrual loans to held for sale. |
(3) | Transfers to held for sale are shown net of charge-offs of $5 million and $6 million recorded upon transfer for the six months ended June 30, 2019 and 2018, respectively. |
June 30, 2019 | December 31, 2018 | ||||||
(In millions) | |||||||
Non-interest-bearing demand | $ | 34,678 | $ | 35,053 | |||
Savings | 8,659 | 8,788 | |||||
Interest-bearing transaction | 18,625 | 19,175 | |||||
Money market—domestic | 24,729 | 24,111 | |||||
Time deposits | 7,731 | 7,122 | |||||
Customer deposits | 94,422 | 94,249 | |||||
Corporate treasury time deposits | 549 | 242 | |||||
$ | 94,971 | $ | 94,491 |
June 30, 2019 | December 31, 2018 | ||||||
(In millions) | |||||||
Regions Financial Corporation (Parent): | |||||||
3.20% senior notes due February 2021 | $ | 1,101 | $ | 1,101 | |||
2.75% senior notes due August 2022 | 996 | 996 | |||||
3.80% senior notes due August 2023 | 995 | 497 | |||||
7.75% subordinated notes due September 2024 | 100 | 100 | |||||
6.75% subordinated debentures due November 2025 | 157 | 157 | |||||
7.375% subordinated notes due December 2037 | 298 | 298 | |||||
Valuation adjustments on hedged long-term debt | 35 | (47 | ) | ||||
3,682 | 3,102 | ||||||
Regions Bank: | |||||||
FHLB advances | 3,102 | 6,902 | |||||
2.75% senior notes due April 2021 | 549 | 548 | |||||
3 month LIBOR plus 0.38% of floating rate senior notes due April 2021 | 349 | 349 | |||||
3.374% senior notes converting to 3 month LIBOR plus 0.50%, callable August 2020, due August 2021 | 499 | 499 | |||||
3 month LIBOR plus 0.50% of floating rate senior notes, callable August 2020, due August 2021 | 499 | 499 | |||||
6.45% subordinated notes due June 2037 | 495 | 495 | |||||
Other long-term debt | 33 | 33 | |||||
Valuation adjustments on hedged long-term debt | 5 | (3 | ) | ||||
5,531 | 9,322 | ||||||
Total consolidated | $ | 9,213 | $ | 12,424 |
Transitional Basis Basel III Regulatory Capital Rules | June 30, 2019 Ratio (1) | December 31, 2018 Ratio | Minimum Requirement | To Be Well Capitalized | |||||||
Basel III common equity Tier 1 capital: | |||||||||||
Regions Financial Corporation | 9.87 | % | 9.90 | % | 4.50 | % | N/A | ||||
Regions Bank | 11.54 | 11.59 | 4.50 | 6.50 | % | ||||||
Tier 1 capital: | |||||||||||
Regions Financial Corporation | 11.11 | % | 10.68 | % | 6.00 | % | 6.00 | % | |||
Regions Bank | 11.54 | 11.59 | 6.00 | 8.00 | |||||||
Total capital: | |||||||||||
Regions Financial Corporation | 12.88 | % | 12.46 | % | 8.00 | % | 10.00 | % | |||
Regions Bank | 12.86 | 12.92 | 8.00 | 10.00 | |||||||
Leverage capital: | |||||||||||
Regions Financial Corporation | 9.66 | % | 9.32 | % | 4.00 | % | N/A | ||||
Regions Bank | 10.05 | 10.12 | 4.00 | 5.00 | % |
As of June 30, 2019 and December 31, 2018 | ||||
S&P | Moody’s | Fitch | DBRS | |
Regions Financial Corporation | ||||
Senior unsecured debt | BBB+ | Baa2 | BBB+ | AL |
Subordinated debt | BBB | Baa2 | BBB | BBBH |
Regions Bank | ||||
Short-term | A-2 | P-1 | F2 | R-IL |
Long-term bank deposits | N/A | A2 | A- | A |
Senior unsecured debt | A- | Baa2 | BBB+ | A |
Subordinated debt | BBB+ | Baa2 | BBB | AL |
Outlook | Stable | Positive | Stable | Stable |
• | Preparation of Regions’ operating budgets |
• | Monthly financial performance reporting |
• | Monthly close-out reporting of consolidated results (management only) |
• | Presentations to investors of Company performance |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
(Dollar in millions) | |||||||||||||||
ADJUSTED AVERAGE BALANCES OF LOANS | |||||||||||||||
Average total loans | $ | 83,905 | $ | 79,957 | $ | 83,816 | $ | 79,925 | |||||||
Add: Purchasing card balances (1) | — | 228 | — | 218 | |||||||||||
Less: Balances of residential first mortgage loans sold (2) | — | — | — | 81 | |||||||||||
Less: Indirect—vehicles | 2,578 | 3,260 | 2,750 | 3,284 | |||||||||||
Adjusted average total loans (non-GAAP) | $ | 81,327 | $ | 76,925 | $ | 81,066 | $ | 76,778 |
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||||||
(Dollars in millions) | ||||||||||||||||
INCOME — CONSOLIDATED | ||||||||||||||||
Net income (GAAP) | $ | 390 | $ | 375 | $ | 784 | $ | 789 | ||||||||
Preferred dividends (GAAP) | (16 | ) | (16 | ) | (32 | ) | (32 | ) | ||||||||
Net income available to common shareholders (GAAP) | A | $ | 374 | $ | 359 | $ | 752 | $ | 757 | |||||||
ADJUSTED EFFICIENCY AND FEE INCOME RATIOS — CONTINUING OPERATIONS | ||||||||||||||||
Non-interest expense (GAAP) | B | $ | 861 | $ | 911 | $ | 1,721 | $ | 1,795 | |||||||
Significant items: | ||||||||||||||||
Branch consolidation, property and equipment charges | (2 | ) | (1 | ) | (8 | ) | (4 | ) | ||||||||
Expenses associated with residential mortgage loan sale | — | — | — | (4 | ) | |||||||||||
Salary and employee benefits—severance charges | (2 | ) | (34 | ) | (4 | ) | (49 | ) | ||||||||
Adjusted non-interest expense (non-GAAP) | C | $ | 857 | $ | 876 | $ | 1,709 | $ | 1,738 | |||||||
Net interest income and other financing income (GAAP) | D | $ | 942 | $ | 926 | $ | 1,890 | $ | 1,835 | |||||||
Taxable-equivalent adjustment | 14 | 12 | 27 | 25 | ||||||||||||
Net interest income and other financing income, taxable-equivalent basis - continuing operations | E | 956 | 938 | 1,917 | 1,860 | |||||||||||
Non-interest income (GAAP) | F | 494 | 512 | 996 | 1,019 | |||||||||||
Significant items: | ||||||||||||||||
Securities (gains) losses, net | 19 | (1 | ) | 26 | (1 | ) | ||||||||||
Leveraged lease termination gains | — | — | — | (4 | ) | |||||||||||
Gain on sale of affordable housing residential mortgage loans (3) | — | — | (8 | ) | — | |||||||||||
Adjusted non-interest income (non-GAAP) | G | $ | 513 | $ | 511 | $ | 1,014 | $ | 1,014 | |||||||
Total revenue | D+F=H | $ | 1,436 | $ | 1,438 | $ | 2,886 | $ | 2,854 | |||||||
Adjusted total revenue | D+G=I | $ | 1,455 | $ | 1,437 | $ | 2,904 | $ | 2,849 | |||||||
Total revenue, taxable-equivalent basis | E+F=J | $ | 1,450 | $ | 1,450 | $ | 2,913 | $ | 2,879 | |||||||
Adjusted total revenue, taxable-equivalent basis (non-GAAP) | E+G=K | $ | 1,469 | $ | 1,449 | $ | 2,931 | $ | 2,874 | |||||||
Efficiency ratio (GAAP) | B/J | 59.37 | % | 62.74 | % | 59.09 | % | 62.33 | % | |||||||
Adjusted efficiency ratio (non-GAAP) | C/K | 58.33 | % | 60.41 | % | 58.31 | % | 60.47 | % | |||||||
Fee income ratio (GAAP) | F/J | 34.09 | % | 35.31 | % | 34.20 | % | 35.40 | % | |||||||
Adjusted fee income ratio (non-GAAP) | G/K | 34.96 | % | 35.24 | % | 34.61 | % | 35.28 | % | |||||||
RETURN ON AVERAGE TANGIBLE COMMON STOCKHOLDERS’ EQUITY — CONSOLIDATED | ||||||||||||||||
Average stockholders’ equity (GAAP) | $ | 15,927 | $ | 15,682 | $ | 15,562 | $ | 15,765 | ||||||||
Less: Average intangible assets (GAAP) | 4,933 | 5,066 | 4,937 | 5,071 | ||||||||||||
Average deferred tax liability related to intangibles (GAAP) | (94 | ) | (98 | ) | (94 | ) | (99 | ) | ||||||||
Average preferred stock (GAAP) | 1,154 | 820 | 988 | 820 | ||||||||||||
Average tangible common stockholders’ equity (non-GAAP) | L | $ | 9,934 | $ | 9,894 | $ | 9,731 | $ | 9,973 | |||||||
Return on average tangible common stockholders’ equity (non-GAAP)(4) | A/L | 15.11 | % | 14.54 | % | 15.58 | % | 15.31 | % |
June 30, 2019 | December 31, 2018 | |||||||
(Dollars in millions, except per share data) | ||||||||
TANGIBLE COMMON RATIOS — CONSOLIDATED | ||||||||
Ending stockholders’ equity (GAAP) | $ | 16,608 | $ | 15,090 | ||||
Less: Ending intangible assets (GAAP) | 4,930 | 4,944 | ||||||
Ending deferred tax liability related to intangibles (GAAP) | (94 | ) | (94 | ) | ||||
Ending preferred stock (GAAP) | 1,310 | 820 | ||||||
Ending tangible common stockholders’ equity (non-GAAP) | M | $ | 10,462 | $ | 9,420 | |||
Ending total assets (GAAP) | $ | 127,518 | $ | 125,688 | ||||
Less: Ending intangible assets (GAAP) | 4,930 | 4,944 | ||||||
Ending deferred tax liability related to intangibles (GAAP) | (94 | ) | (94 | ) | ||||
Ending tangible assets (non-GAAP) | N | $ | 122,682 | $ | 120,838 | |||
End of period shares outstanding | O | 1,004 | 1,025 | |||||
Tangible common stockholders’ equity to tangible assets (non-GAAP) | M/N | 8.53 | % | 7.80 | % | |||
Tangible common book value per share (non-GAAP) | M/O | $ | 10.42 | $ | 9.19 |
June 30, 2019 | December 31, 2018 | |||||||
(Dollars in millions, except per share data) | ||||||||
BASEL III COMMON EQUITY TIER 1 RATIO—FULLY PHASED-IN PRO-FORMA (5) | ||||||||
Stockholders’ equity (GAAP) | $ | 16,608 | $ | 15,090 | ||||
Non-qualifying goodwill and intangibles | (4,827 | ) | (4,839 | ) | ||||
Adjustments, including all components of accumulated other comprehensive income, disallowed deferred tax assets, threshold deductions and other adjustments | 13 | 940 | ||||||
Preferred stock (GAAP) | (1,310 | ) | (820 | ) | ||||
Basel III common equity Tier 1—Fully Phased-In Pro-Forma (non-GAAP) | P | $ | 10,484 | $ | 10,371 | |||
Basel III risk-weighted assets—Fully Phased-In Pro-Forma (non-GAAP) (6) | Q | $ | 106,785 | $ | 105,475 | |||
Basel III common equity Tier 1 ratio—Fully Phased-In Pro-Forma (non-GAAP) | P/Q | 9.82 | % | 9.83 | % |
(1) | On December 31, 2018, purchasing cards were reclassified to commercial and industrial loans from other assets. |
(2) | Adjustments to average loan balances assume a simple day-weighted average impact for the first quarter of 2018. |
(3) | The gain on sale of affordable housing residential mortgage loans in the first quarter of 2019 was the result of the sale of approximately $167 million of loans. |
(4) | Income statement amounts have been annualized in calculation. |
Three Months Ended June 30 | |||||||||||||||||||||
2019 | 2018 | ||||||||||||||||||||
Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | ||||||||||||||||
(Dollars in millions; yields on taxable-equivalent basis) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Earning assets: | |||||||||||||||||||||
Debt securities—taxable | $ | 24,539 | $ | 163 | 2.67 | % | $ | 24,386 | $ | 156 | 2.57 | % | |||||||||
Loans held for sale | 398 | 4 | 4.14 | 388 | 4 | 4.21 | |||||||||||||||
Loans, net of unearned income (1)(2) | 83,905 | 1,006 | 4.79 | 79,957 | 893 | 4.46 | |||||||||||||||
Investment in operating leases, net | 340 | 3 | 3.45 | 439 | 4 | 3.59 | |||||||||||||||
Other earning assets | 1,959 | 15 | 3.00 | 2,558 | 17 | 2.60 | |||||||||||||||
Total earning assets | 111,141 | 1,191 | 4.28 | 107,728 | 1,074 | 3.98 | |||||||||||||||
Allowance for loan losses | (857 | ) | (848 | ) | |||||||||||||||||
Cash and due from banks | 1,857 | 1,953 | |||||||||||||||||||
Other non-earning assets | 13,974 | 14,127 | |||||||||||||||||||
$ | 126,115 | $ | 122,960 | ||||||||||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Savings | $ | 8,806 | 3 | 0.16 | $ | 8,981 | 3 | 0.15 | |||||||||||||
Interest-bearing checking | 18,869 | 33 | 0.71 | 19,534 | 18 | 0.38 | |||||||||||||||
Money market | 24,350 | 49 | 0.79 | 24,235 | 19 | 0.30 | |||||||||||||||
Time deposits | 9,010 | 40 | 1.78 | 6,692 | 17 | 0.98 | |||||||||||||||
Total interest-bearing deposits (3) | 61,035 | 125 | 0.82 | 59,442 | 57 | 0.38 | |||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 244 | 1 | 2.41 | 41 | 1 | 1.83 | |||||||||||||||
Other short-term borrowings | 1,965 | 13 | 2.54 | 1,161 | 5 | 1.90 | |||||||||||||||
Long-term borrowings | 10,855 | 96 | 3.52 | 8,742 | 73 | 3.35 | |||||||||||||||
Total interest-bearing liabilities | 74,099 | 235 | 1.27 | 69,386 | 136 | 0.79 | |||||||||||||||
Non-interest-bearing deposits (3) | 33,883 | — | — | 35,811 | — | — | |||||||||||||||
Total funding sources | 107,982 | 235 | 0.87 | 105,197 | 136 | 0.52 | |||||||||||||||
Net interest spread | 3.01 | 3.19 | |||||||||||||||||||
Other liabilities | 2,195 | 2,081 | |||||||||||||||||||
Stockholders’ equity | 15,927 | 15,682 | |||||||||||||||||||
Noncontrolling Interest | 11 | — | |||||||||||||||||||
$ | 126,115 | $ | 122,960 | ||||||||||||||||||
Net interest income and other financing income/margin on a taxable-equivalent basis (4) | $ | 956 | 3.45 | % | $ | 938 | 3.49 | % |
(1) | Loans, net of unearned income include non-accrual loans for all periods presented. |
(2) | Interest income includes net loan fees of $2 million and $6 million for the three months ended June 30, 2019 and 2018, respectively. |
(3) | Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest-bearing deposits. The rates for total deposit costs equal 0.53% and 0.24% for the three months ended June 30, 2019 and 2018, respectively. |
(4) | The computation of taxable-equivalent net interest income and other financing income is based on the statutory federal income tax rate of 21% for both June 30, 2019 and 2018, adjusted for applicable state income taxes net of the related federal tax benefit. |
Six Months Ended June 30 | |||||||||||||||||||||
2019 | 2018 | ||||||||||||||||||||
Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | ||||||||||||||||
(Dollars in millions; yields on taxable-equivalent basis) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Earning assets: | |||||||||||||||||||||
Debt securities—taxable | $ | 24,395 | $ | 328 | 2.69 | % | $ | 24,486 | $ | 310 | 2.56 | % | |||||||||
Loans held for sale | 350 | 7 | 3.92 | 373 | 7 | 3.73 | |||||||||||||||
Loans, net of unearned income (1)(2) | 83,816 | 2,000 | 4.78 | 79,924 | 1,757 | 4.40 | |||||||||||||||
Investment in operating leases, net | 352 | 6 | 3.43 | 456 | 8 | 3.19 | |||||||||||||||
Other earning assets | 1,904 | 34 | 3.62 | 2,706 | 36 | 2.66 | |||||||||||||||
Total earning assets | 110,817 | 2,375 | 4.29 | 107,945 | 2,118 | 3.93 | |||||||||||||||
Allowance for loan losses | (850 | ) | (890 | ) | |||||||||||||||||
Cash and due from banks | 1,875 | 1,952 | |||||||||||||||||||
Other non-earning assets | 13,988 | 14,219 | |||||||||||||||||||
$ | 125,830 | $ | 123,226 | ||||||||||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Savings | $ | 8,829 | 7 | 0.17 | $ | 8,799 | 7 | 0.16 | |||||||||||||
Interest-bearing checking | 19,087 | 66 | 0.70 | 19,734 | 34 | 0.35 | |||||||||||||||
Money market | 24,171 | 89 | 0.74 | 24,417 | 33 | 0.27 | |||||||||||||||
Time deposits | 8,570 | 71 | 1.67 | 6,752 | 32 | 0.94 | |||||||||||||||
Total interest-bearing deposits (3) | 60,657 | 233 | 0.77 | 59,702 | 106 | 0.36 | |||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 293 | 3 | 2.41 | 72 | 1 | 1.55 | |||||||||||||||
Other short-term borrowings | 1,851 | 24 | 2.54 | 661 | 6 | 1.85 | |||||||||||||||
Long-term borrowings | 11,301 | 198 | 3.49 | 9,135 | 145 | 3.17 | |||||||||||||||
Total interest-bearing liabilities | 74,102 | 458 | 1.25 | 69,570 | 258 | 0.75 | |||||||||||||||
Non-interest-bearing deposits (3) | 33,889 | — | — | 35,638 | — | — | |||||||||||||||
Total funding sources | 107,991 | 458 | 0.85 | 105,208 | 258 | 0.49 | |||||||||||||||
Net interest spread | 3.04 | 3.18 | |||||||||||||||||||
Other liabilities | 2,272 | 2,253 | |||||||||||||||||||
Stockholders’ equity | 15,562 | 15,765 | |||||||||||||||||||
Noncontrolling Interest | 5 | — | |||||||||||||||||||
$ | 125,830 | $ | 123,226 | ||||||||||||||||||
Net interest income and other financing income/margin on a taxable-equivalent basis (4) | $ | 1,917 | 3.49 | % | $ | 1,860 | 3.48 | % |
Estimated Annual Change in Net Interest Income June 30, 2019(1) | |||
(In millions) | |||
Gradual Change in Interest Rates | |||
+ 200 basis points | $145 | ||
+ 100 basis points | 86 | ||
- 100 basis points(2) | (111 | ) | |
- 200 basis points (floored) | (195 | ) | |
Instantaneous Change in Interest Rates | |||
+ 200 basis points | $149 | ||
+ 100 basis points | 111 | ||
- 100 basis points | (183 | ) | |
- 200 basis points (floored) | (297 | ) |
(1) | Disclosed interest rate sensitivity levels represent the 12 month forward looking net interest income and other financing income changes as compared to market forward rate cases and include expected balance sheet remixing. |
(2) | Forward starting cash flow hedges already transacted will reduce sensitivity levels through 2020 as they continue to move into the measurement horizon (see Table 20 for additional information regarding hedge start dates). Estimates for a gradual parallel yield curve shift of minus 100 basis points, inclusive of forward starting cash flow hedges already transacted, would be a decrease to net interest income and other financing income of approximately 3 percent in the current quarter, approximately 1.5 percent at year-end 2019, and less than 1 percent by year-end 2020. |
June 30, 2019 | |||||||||||||||
Weighted-Average | |||||||||||||||
Notional Amount | Maturity (Years) | Receive Rate(1) | Pay Rate(1) | Strike Price(1)(2) | |||||||||||
(Dollars in millions) | |||||||||||||||
Derivatives in fair value hedging relationships: | |||||||||||||||
Receive fixed/pay variable swaps | $ | 3,650 | 2.7 | 1.9 | % | 2.5 | % | — | % | ||||||
Receive variable/pay fixed swaps | 32 | 6.3 | 2.6 | 2.7 | — | ||||||||||
Derivatives in cash flow hedging relationships: | |||||||||||||||
Receive fixed/pay variable swaps | 12,750 | 5.7 | 2.1 | 2.0 | — | ||||||||||
Interest rate floors | 6,750 | 5.3 | — | — | 2.1 | ||||||||||
Total derivatives designated as hedging instruments | $ | 23,182 | 5.1 | 2.1 | % | 2.1 | % | 2.1 | % |
(1) | Variable rate indexes on swap and floor contracts reference a combination of short-term LIBOR benchmarks, primarily 1 month LIBOR. |
(2) | Strike price is not adjusted for premiums paid on interest rate floors. |
Notional Amount | |||||||||||||||||||||||||||||||
Years Ended | |||||||||||||||||||||||||||||||
2019(1)(2) | 2020(1)(2) | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||||
Receive fixed/pay variable swaps | $ | 5,500 | $ | 12,000 | $ | 12,750 | $ | 12,750 | $ | 10,450 | $ | 9,450 | $ | 3,325 | $ | 1,250 | |||||||||||||||
Interest rate floors | 750 | 6,500 | 6,750 | 6,750 | 6,750 | 4,000 | 250 | — | |||||||||||||||||||||||
Cash flow hedges | $ | 6,250 | $ | 18,500 | $ | 19,500 | $ | 19,500 | $ | 17,200 | $ | 13,450 | $ | 3,575 | $ | 1,250 |
(1) | As forward starting cash flow hedges are transacted within the 12 month measurement horizon, they will reduce 12 month net interest income and other financing income sensitivity levels as disclosed in Table 18. |
(2) | Start dates for $10.3 billion of the $12.0 billion notional of the cash flow swaps and $4.8 billion of the $6.5 billion notional of the interest rate floors are at the beginning of 2020. |
Three Months Ended June 30 | Quarter-to-Date Change 6/30/2019 vs. 6/30/2018 | |||||||||||||
2019 | 2018 | Amount | Percent | |||||||||||
(Dollars in millions) | ||||||||||||||
Service charges on deposit accounts | $ | 181 | $ | 175 | $ | 6 | 3.4 | % | ||||||
Card and ATM fees | 120 | 112 | 8 | 7.1 | % | |||||||||
Investment management and trust fee income | 59 | 58 | 1 | 1.7 | % | |||||||||
Capital markets income | 39 | 57 | (18 | ) | (31.6 | )% | ||||||||
Mortgage income | 31 | 37 | (6 | ) | (16.2 | )% | ||||||||
Investment services fee income | 20 | 19 | 1 | 5.3 | % | |||||||||
Commercial credit fee income | 18 | 17 | 1 | 5.9 | % | |||||||||
Bank-owned life insurance | 19 | 18 | 1 | 5.6 | % | |||||||||
Securities gains (losses), net | (19 | ) | 1 | (20 | ) | NM | ||||||||
Market value adjustments on employee benefit assets - defined benefit | — | (1 | ) | 1 | (100.0 | )% | ||||||||
Market value adjustments on employee benefit assets - other | (2 | ) | (1 | ) | (1 | ) | 100.0 | % | ||||||
Other miscellaneous income | 28 | 20 | 8 | 40.0 | % | |||||||||
$ | 494 | $ | 512 | $ | (18 | ) | (3.5 | )% |
Six Months Ended June 30 | Year-to-Date 6/30/2019 vs. 6/30/2018 | |||||||||||||
2019 | 2018 | Amount | Percent | |||||||||||
(Dollars in millions) | ||||||||||||||
Service charges on deposit accounts | $ | 356 | $ | 346 | $ | 10 | 2.9 | % | ||||||
Card and ATM fees | 229 | 216 | 13 | 6.0 | % | |||||||||
Investment management and trust fee income | 116 | 116 | — | — | % | |||||||||
Capital markets income | 81 | 107 | (26 | ) | (24.3 | )% | ||||||||
Mortgage income | 58 | 75 | (17 | ) | (22.7 | )% | ||||||||
Investment services fee income | 39 | 36 | 3 | 8.3 | % | |||||||||
Commercial credit fee income | 36 | 34 | 2 | 5.9 | % | |||||||||
Bank-owned life insurance | 42 | 35 | 7 | 20.0 | % | |||||||||
Securities gains (losses), net | (26 | ) | 1 | (27 | ) | NM | ||||||||
Market value adjustments on employee benefit assets - defined benefit | 5 | (2 | ) | 7 | (350.0 | )% | ||||||||
Market value adjustments on employee benefit assets - other | (3 | ) | (1 | ) | (2 | ) | 200.0 | % | ||||||
Other miscellaneous income | 63 | 56 | 7 | 12.5 | % | |||||||||
$ | 996 | $ | 1,019 | $ | (23 | ) | (2.3 | )% |
Three Months Ended June 30 | Quarter-to-Date Change 6/30/2019 vs 6/30/2018 | |||||||||||||
2019 | 2018 | Amount | Percent | |||||||||||
(Dollars in millions) | ||||||||||||||
Salaries and employee benefits | $ | 469 | $ | 511 | $ | (42 | ) | (8.2 | )% | |||||
Net occupancy expense | 80 | 84 | (4 | ) | (4.8 | )% | ||||||||
Furniture and equipment expense | 84 | 81 | 3 | 3.7 | % | |||||||||
Outside services | 52 | 48 | 4 | 8.3 | % | |||||||||
Professional, legal and regulatory expenses | 26 | 33 | (7 | ) | (21.2 | )% | ||||||||
Marketing | 23 | 25 | (2 | ) | (8.0 | )% | ||||||||
FDIC insurance assessments | 12 | 25 | (13 | ) | (52.0 | )% | ||||||||
Credit/checkcard expenses | 18 | 13 | 5 | 38.5 | % | |||||||||
Branch consolidation, property and equipment charges | 2 | 1 | 1 | 100.0 | % | |||||||||
Visa class B shares expense | 3 | 10 | (7 | ) | (70.0 | )% | ||||||||
Provision (credit) for unfunded credit losses | — | (1 | ) | 1 | (100.0 | )% | ||||||||
Other miscellaneous expenses | 92 | 81 | 11 | 13.6 | % | |||||||||
$ | 861 | $ | 911 | $ | (50 | ) | (5.5 | )% |
Six Months Ended June 30 | Year-to-Date 6/30/2019 vs. 6/30/2018 | |||||||||||||
2019 | 2018 | Amount | Percent | |||||||||||
(Dollars in millions) | ||||||||||||||
Salaries and employee benefits | $ | 947 | $ | 1,006 | $ | (59 | ) | (5.9 | )% | |||||
Net occupancy expense | 162 | 167 | (5 | ) | (3.0 | )% | ||||||||
Furniture and equipment expense | 160 | 162 | (2 | ) | (1.2 | )% | ||||||||
Outside services | 97 | 95 | 2 | 2.1 | % | |||||||||
Professional, legal and regulatory expenses | 46 | 60 | (14 | ) | (23.3 | )% | ||||||||
Marketing | 46 | 51 | (5 | ) | (9.8 | )% | ||||||||
FDIC insurance assessments | 25 | 49 | (24 | ) | (49.0 | )% | ||||||||
Credit/checkcard expenses | 34 | 26 | 8 | 30.8 | % | |||||||||
Branch consolidation, property and equipment charges | 8 | 4 | 4 | 100.0 | % | |||||||||
Visa class B shares expense | 7 | 12 | (5 | ) | (41.7 | )% | ||||||||
Provision (credit) for unfunded credit losses | (1 | ) | (5 | ) | 4 | (80.0 | )% | |||||||
Other miscellaneous expenses | 190 | 168 | 22 | 13.1 | % | |||||||||
$ | 1,721 | $ | 1,795 | $ | (74 | ) | (4.1 | )% |
Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Approximate Dollar Value of Shares That May Yet Be Purchased Under Publicly Announced Plans or Programs | ||||||||||
April 1-30, 2019 | 2,500,000 | $ | 15.42 | 2,500,000 | $ | 151,331,881 | ||||||||
May 1-31, 2019 | 10,318,352 | $ | 14.64 | 10,318,352 | $ | 78,981 | ||||||||
June 1-30, 2019 | — | $ | — | — | $ | 78,981 | ||||||||
Total 2nd Quarter | 12,818,352 | $ | 14.80 | 12,818,352 | $ | 78,981 |
3.1 | ||
3.2 | ||
3.3 | ||
3.4 | ||
3.5 | ||
4.1 | ||
4.2 | ||
10.1 | ||
10.2 | ||
10.3 | ||
10.4 | ||
31.1 | ||
31.2 | ||
32 | ||
101 | The following materials from Regions' Form 10-Q Report for the quarterly period ended June 30, 2019, formatted in Inline XBRL: (i) the Consolidated Balance Sheets; (ii) the Consolidated Statements of Income; (iii) the Consolidated Statements of Comprehensive Income; (iv) the Consolidated Statements of Changes in Stockholders' Equity; (v) the Consolidated Statements of Cash Flows; and (vi) the Notes to the Consolidated Financial Statements. | |
104 | The cover page of Regions' Form 10-Q Report for the quarter ended June 30, 2019, formatted in Inline XBRL (included within the Exhibit 101 attachments). |
DATE: August 7, 2019 | Regions Financial Corporation | |
/S/ HARDIE B. KIMBROUGH, JR. | ||
Hardie B. Kimbrough, Jr. Executive Vice President and Controller (Chief Accounting Officer and Authorized Officer) |
(i) | Capital - Capital Action Decision Tree Status, as defined in the Capital Policy, must remain in either “Monitor Capital” or “Capital Deployment” status; and |
(ii) | Liquidity - Total Primary Liquidity must remain above the minimum established by the Enterprise Risk Appetite Objectives. |
• | If your employment terminates due to your death, then as soon as practicable following your death, your Award will fully vest (unless prohibited by applicable laws, rules, or regulations), and shares of Stock equivalent to the Maximum Award will be issued to your estate. |
• | If your employment terminates due to (a) your Disability or (b) your Retirement (on or after age 65 or on or after you attain age 55 with 10 years of continuous service) any time on or after November 30, 2019, then (i) the portion of this Award not subject to vesting based on achievement of the Capital and Liquidity Performance Thresholds (____%) will fully vest upon your termination of employment (unless prohibited by applicable laws, rules, or regulations), and shares of Stock will be issued to you, and (ii) the portion of this Award subject to vesting based on achievement of the Capital and Liquidity Performance Thresholds (____%) will continue to vest in accordance with its terms. |
• | If the Company terminates your employment without Cause but through no fault of your own (as determined in the Company’s sole discretion), the Restricted Stock Units equivalent to the Maximum Award will be prorated for the portion of the Service Vesting Period between the grant date and the date your employment terminated, and then (i) the pro rata portion of this Award not subject to vesting based on achievement of the Capital and Liquidity Performance Thresholds (____%) will fully vest upon your termination of employment (unless prohibited by applicable laws, rules, or regulations), |
• | Notwithstanding anything in the Plan to the contrary, in the event of a Change in Control, the portion of your Award that is subject to vesting based on achievement of the Capital and Liquidity Performance Thresholds for any Performance Threshold Measurement Period that ends after the closing of the Change in Control will convert to time-based vesting for the duration of the applicable Performance Threshold Measurement Periods. If your employment is terminated by the Company without Cause or by you for Good Reason, in each case, within the twenty-four (24) month period following the Change in Control, this Award (i.e., the portion of this Award not subject to vesting based on achievement of the Capital and Liquidity Performance Thresholds (____%) and the portion of this Award subject to vesting based on achievement of the Capital and Liquidity Performance Thresholds but converted to time-based vesting in accordance with the preceding sentence (up to ____%)) will fully vest upon your termination of employment (unless prohibited by applicable laws, rules, or regulations), and shares of Stock equivalent to the Maximum Award will be issued to you. |
• | If your employment terminates during the Service Vesting Period for any reason other than those listed above, your Award will be forfeited as of your termination date. |
(i) | Capital - Capital Action Decision Tree Status, as defined in the Capital Policy, must remain in either “Monitor Capital” or “Capital Deployment” status; and |
(ii) | Liquidity - Total Primary Liquidity must remain above the minimum established by the Enterprise Risk Appetite Objectives. |
(i) | EPS Growth - the Company’s growth in cumulative compounded diluted earnings per share from continuing operations (“EPS Growth”); and |
(ii) | ROATCE - the Company’s return on average tangible common stockholders’ equity, which is defined as net income from continuing operations available to common shareholders divided by average tangible common shareholders’ equity, with average tangible common shareholders’ equity equal to average stockholders’ equity less the sum of (a) average intangible assets, net of their related average deferred tax liability and (b) average preferred stock (“ROATCE”). |
• | If your employment terminates due to your death, then as soon as practicable following your death, the Performance Threshold Measurement Periods, the Performance Vesting Period, the Service Vesting Period, and any other restrictions imposed upon your Award will lapse (unless prohibited by applicable laws, rules, or regulations), and shares of Stock equivalent to the Target Grant will be issued to your estate. |
• | If your employment terminates due to your Disability, then this Award will continue to vest in accordance with its terms, and you will be entitled to receive the number of shares of Stock, if any, at the end of the Service Vesting Period that you otherwise would have received (i.e., based on actual achievement of the Performance Thresholds and the Performance Goals) had your employment continued through the date of delivery of such Stock. In the event your employment terminates due to your Disability and your death occurs prior to the end of the Service Vesting Period, then as soon as practicable following your death, all restrictions imposed upon your Award will lapse (unless prohibited by applicable laws, rules, or regulations), and shares of Stock equivalent to the Target Grant will be issued to your estate. |
• | If any time on or after November 30, 2019, you terminate your employment due to Retirement (on or after age 65 or on or after you attain age 55 with 10 years of continuous service), then this Award will continue to vest in accordance with its terms, and you will be entitled to receive the number of shares of Stock, if any, at the end of the Service Vesting Period that you otherwise would have received (i.e., based on actual achievement of the Performance Thresholds and the Performance Goals) had your employment continued through the date of delivery of such Stock. |
• | If the Company terminates your employment without Cause but through no fault of your own (as determined in the Company’s sole discretion), this Award will continue to vest in accordance with its terms, and you will be entitled to receive the number of shares of Stock, if any, at the end of the Service Vesting Period that you otherwise would have received (i.e., based on actual achievement of the Performance Thresholds and the Performance Goals) had your employment continued through the payment date, which amount will be prorated for the portion of the Service Vesting Period between the grant date and the date your employment terminated. |
• | Notwithstanding anything in the Plan to the contrary, in the event of a Change in Control, this Award will convert to Restricted Stock Units equal to the number of shares of Stock underlying the Target Grant, which Restricted Stock Units will vest and become payable in accordance with the service-based vesting conditions in the Notice of Grant, provided you are employed by the Company as of such payment date. Notwithstanding the foregoing, if your employment is terminated by the Company without Cause or by you for Good Reason, in each case, within the twenty-four (24) month period following the Change in Control, all restrictions imposed upon your Award will lapse (unless prohibited by applicable laws, rules, or regulations), and such Restricted Stock Units will be issued to you. |
• | If your employment terminates during the Service Vesting Period for any reason other than those listed above, your Award will be forfeited as of your termination date. |
(i) | Capital - Capital Action Decision Tree Status, as defined in the Capital Policy, must remain in either “Monitor Capital” or “Capital Deployment” status; and |
(ii) | Liquidity - Total Primary Liquidity must remain above the minimum established by the Enterprise Risk Appetite Objectives. |
(i) | EPS Growth - the Company’s growth in cumulative compounded diluted earnings per share from continuing operations (“EPS Growth”); and |
(ii) | ROATCE - the Company’s return on average tangible common stockholders’ equity, which is defined as net income from continuing operations available to common shareholders divided by average tangible common shareholders’ equity, with average tangible common shareholders’ equity equal to average stockholders’ equity less the sum of (a) average intangible assets, net of their related average deferred tax liability and (b) average preferred stock (“ROATCE”). |
• | If your employment terminates due to your death, then as soon as practicable following your death, the Performance Threshold Measurement Periods, the Performance Vesting Period, the Service Vesting Period, and any other restrictions imposed upon your Award will lapse (unless prohibited by applicable laws, rules, or regulations), and a cash amount equal to the Target Value will be paid to your estate. |
• | If your employment terminates due to your Disability, then this Award will continue to vest in accordance with its terms and you will be entitled to receive a cash payment under the PUs, if any, at the end of the Service Vesting Period that you otherwise would have received (i.e., based on actual achievement of the Performance Thresholds and the Performance Goals) had your employment continued through the payment date. In the event your employment terminates due to your Disability and your death occurs prior to the end of the Service Vesting Period, then as soon as practicable following your death, all restrictions imposed upon your Award will lapse (unless prohibited by applicable laws, rules, or regulations), and a cash amount equal to the Target Value will be paid to your estate. |
• | If any time on or after November 30, 2019, you terminate your employment due to Retirement (on or after age 65 or on or after you attain age 55 with 10 years of continuous service), then this Award will continue to vest in accordance with its terms and you will be entitled to receive a cash payment under the PUs, if any, at the end of the Service Vesting Period that you otherwise would have received (i.e., based on actual achievement of the Performance Thresholds and the Performance Goals) had your employment continued through the payment date. |
• | If the Company terminates your employment without Cause but through no fault of your own (as determined in the Company’s sole discretion), this Award will continue to vest in accordance with its terms and you will be entitled to receive a cash payment under the PUs, if any, at the end of the Service Vesting Period that you otherwise would have received (i.e., based on actual achievement of the Performance Thresholds and the Performance Goals) had your employment continued through the payment date, which amount will be prorated for the portion of the Service Vesting Period between the grant date and the date your employment terminated. |
• | Notwithstanding anything in the Plan to the contrary, in the event of a Change in Control, the value of the PUs under this Award will be locked in at the Target Value and will vest and become payable in accordance with the service-based vesting conditions in the Notice of Grant, provided you are employed by the Company as of such payment date. Notwithstanding the foregoing, if your employment is terminated by the Company without Cause or by you for Good Reason, in each case, within the twenty-four (24) month period following the Change in Control, all restrictions imposed upon your Award will lapse (unless prohibited by applicable laws, rules, or regulations), and a cash payment equal to the Target Value will be paid to you. |
• | If your employment terminates during the Service Vesting Period for any reason other than those listed above, your Award will be forfeited as of your termination date. |
1. | I have reviewed this Quarterly Report on Form 10-Q of Regions Financial Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
/S/ JOHN M. TURNER, JR. |
John M. Turner, Jr. President and Chief Executive Officer |
1. | I have reviewed this Quarterly Report on Form 10-Q of Regions Financial Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
/S/ DAVID J. TURNER, JR. |
David J. Turner, Jr. Senior Executive Vice President and Chief Financial Officer |
1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/S/ JOHN M. TURNER, JR. | /S/ DAVID J. TURNER, JR. | |
John M. Turner, Jr. President and Chief Executive Officer | David J. Turner, Jr. Chief Financial Officer |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Debt Securities held to maturity, estimated fair value | $ 1,448 | $ 1,460 |
Loans held for sale | $ 433 | $ 251 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 3,000,000,000 | 3,000,000,000 |
Common Stock, Shares, Issued | 1,044,852,860 | 1,065,858,925 |
Treasury Stock, Shares | 41,032,676 | 41,032,676 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Par Value Per Share (in dollars per share) | $ 1.00 | $ 1.00 |
Noncumulative Preferred Stock [Member] | ||
Preferred Stock, liquidation preference per share (in dollars per share) | $ 1,000 | $ 1,000.00 |
Preferred Stock, shares issued | 1,500,000 | 1,000,000 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 390 | $ 375 | $ 784 | $ 789 |
Unrealized losses on securities transferred to held to maturity: | ||||
Unrealized losses on securities transferred to held to maturity during the period, net of tax | 0 | 0 | 0 | 0 |
Less: Reclassification Adjustments for Amortization of Unrealized Losses on Securities Transferred to Held to Maturity, Net of Tax | (2) | (1) | (3) | (3) |
Net change in unrealized losses on securities transferred to held to maturity, net of tax | 2 | 1 | 3 | 3 |
Unrealized gains (losses) on securities available for sale: | ||||
Unrealized holding gains (losses) arising during the period on securities available for sale (net of tax) | 244 | (66) | 484 | (376) |
Less: reclassification adjustments for securities gains (losses) realized in net income (net of tax) | (16) | 1 | (21) | 1 |
Net change in unrealized gains (losses) on securities available for sale, net of tax | 260 | (67) | 505 | (377) |
Unrealized gains (losses) on derivative instruments designated as cash flow hedges: | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax | 302 | (42) | 409 | (134) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax | (6) | 4 | (12) | 12 |
Net change in unrealized gains (losses) on derivative instruments, net of tax | 308 | (46) | 421 | (146) |
Defined benefit pension plans and other post employment benefits: | ||||
Net actuarial gains (losses) arising during the period (net of tax) | 0 | 0 | 0 | (1) |
Less: reclassification adjustments for amortization of actuarial loss realized in net income (net of tax) | (7) | (8) | (14) | (15) |
Net change from defined benefit pension plans and other post employment benefits, net of tax | 7 | 8 | 14 | 14 |
Other comprehensive income (loss), net of tax | 577 | (104) | 943 | (506) |
Comprehensive income | $ 967 | $ 271 | $ 1,727 | $ 283 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Statement of Comprehensive Income [Abstract] | ||||
Unrealized losses on securities transferred to held to maturity during the period, tax | $ 0 | $ 0 | $ 0 | $ 0 |
Amortization of unrealized losses on securities transferred to held to maturity, tax | 0 | 0 | 0 | (1) |
Unrealized holding gains (losses) on available for sale securities, tax | 88 | (23) | 165 | (127) |
Reclassification adjustments for securities gains (losses) realized in net income, tax | (3) | 0 | (5) | 0 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | 102 | (14) | 138 | (45) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | (2) | 1 | (4) | 4 |
Net actuarial gains and losses arising during the period, tax | 0 | 0 | 0 | 0 |
Reclassification adjustments for amortization of actuarial loss realized in net income, and other, tax | $ (3) | $ (2) | $ (5) | $ (4) |
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Millions |
Total |
Preferred Stock [Member] |
Common Stock |
Additional Paid-in Capital [Member] |
Retained Earnings [Member] |
Treasury Stock, At Cost [Member] |
Accumulated Other Comprehensive Income (Loss), Net [Member] |
Noncontrolling Interest [Member] |
---|---|---|---|---|---|---|---|---|
Beginning Balance Outstanding (in shares) at Dec. 31, 2017 | 1,000 | 1,133,000 | ||||||
Beginning Balance at Dec. 31, 2017 | $ 16,192 | $ 820 | $ 12 | $ 15,858 | $ 1,628 | $ (1,377) | $ (749) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Cumulative Effect on Retained Earnings, Net of Tax | (2) | (2) | ||||||
Net income | 414 | 414 | ||||||
Other comprehensive income (loss), net of tax | (402) | (402) | ||||||
Cash dividends declared | (101) | (101) | ||||||
Preferred stock dividends | (16) | (16) | ||||||
Impact of share repurchase, shares | (12,000) | |||||||
Impact of share repurchases, value | (235) | (235) | ||||||
Impact of stock transaction under compensation plans, net, shares | 1,000 | |||||||
Impact of stock transaction under compensation plans, net | 16 | 16 | ||||||
Ending Balance Outstanding (in shares) at Mar. 31, 2018 | 1,000 | 1,122,000 | ||||||
Ending Balance at Mar. 31, 2018 | 15,866 | $ 820 | $ 12 | 15,639 | 1,923 | (1,377) | (1,151) | |
Beginning Balance Outstanding (in shares) at Dec. 31, 2017 | 1,000 | 1,133,000 | ||||||
Beginning Balance at Dec. 31, 2017 | 16,192 | $ 820 | $ 12 | 15,858 | 1,628 | (1,377) | (749) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 789 | |||||||
Other comprehensive income (loss), net of tax | (506) | |||||||
Proceeds from Issuance of Redeemable Preferred Stock | 0 | |||||||
Ending Balance Outstanding (in shares) at Jun. 30, 2018 | 1,000 | 1,114,000 | ||||||
Ending Balance at Jun. 30, 2018 | 15,777 | $ 820 | $ 12 | 15,389 | 2,182 | (1,371) | (1,255) | |
Beginning Balance Outstanding (in shares) at Mar. 31, 2018 | 1,000 | 1,122,000 | ||||||
Beginning Balance at Mar. 31, 2018 | 15,866 | $ 820 | $ 12 | 15,639 | 1,923 | (1,377) | (1,151) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Cumulative Effect on Retained Earnings, Net of Tax | 0 | |||||||
Net income | 375 | 375 | ||||||
Other comprehensive income (loss), net of tax | (104) | (104) | ||||||
Cash dividends declared | (100) | (100) | ||||||
Preferred stock dividends | (16) | (16) | ||||||
Impact of share repurchase, shares | (13,000) | |||||||
Impact of share repurchases, value | (235) | (235) | ||||||
Impact of stock transaction under compensation plans, net, shares | 5,000 | |||||||
Impact of stock transaction under compensation plans, net | (9) | (15) | 6 | |||||
Ending Balance Outstanding (in shares) at Jun. 30, 2018 | 1,000 | 1,114,000 | ||||||
Ending Balance at Jun. 30, 2018 | 15,777 | $ 820 | $ 12 | 15,389 | 2,182 | (1,371) | (1,255) | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 0 | |||||||
Beginning Balance Outstanding (in shares) at Dec. 31, 2018 | 1,000 | 1,025,000 | ||||||
Beginning Balance at Dec. 31, 2018 | 15,090 | $ 820 | $ 11 | 13,766 | 2,828 | (1,371) | (964) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Cumulative Effect on Retained Earnings, Net of Tax | 2 | 2 | ||||||
Net income | 394 | 394 | ||||||
Other comprehensive income (loss), net of tax | 366 | 366 | ||||||
Cash dividends declared | (142) | (142) | ||||||
Preferred stock dividends | (16) | (16) | ||||||
Impact of share repurchase, shares | (12,000) | |||||||
Impact of share repurchases, value | (190) | (190) | ||||||
Impact of stock transaction under compensation plans, net | 8 | 8 | ||||||
Ending Balance Outstanding (in shares) at Mar. 31, 2019 | 1,000 | 1,013,000 | ||||||
Ending Balance at Mar. 31, 2019 | 15,512 | $ 820 | $ 11 | 13,584 | 3,066 | (1,371) | (598) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Other | 11 | |||||||
Beginning Balance Outstanding (in shares) at Dec. 31, 2018 | 1,000 | 1,025,000 | ||||||
Beginning Balance at Dec. 31, 2018 | 15,090 | $ 820 | $ 11 | 13,766 | 2,828 | (1,371) | (964) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 784 | |||||||
Other comprehensive income (loss), net of tax | 943 | |||||||
Proceeds from Issuance of Redeemable Preferred Stock | $ 490 | |||||||
Impact of share repurchase, shares | (115,380) | |||||||
Ending Balance Outstanding (in shares) at Jun. 30, 2019 | 2,000 | 1,004,000 | ||||||
Ending Balance at Jun. 30, 2019 | $ 16,608 | $ 1,310 | $ 11 | 13,380 | 3,299 | (1,371) | (21) | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 11 | |||||||
Beginning Balance Outstanding (in shares) at Mar. 31, 2019 | 1,000 | 1,013,000 | ||||||
Beginning Balance at Mar. 31, 2019 | 15,512 | $ 820 | $ 11 | 13,584 | 3,066 | (1,371) | (598) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Cumulative Effect on Retained Earnings, Net of Tax | 0 | |||||||
Net income | 390 | 390 | ||||||
Other comprehensive income (loss), net of tax | 577 | 577 | ||||||
Cash dividends declared | (141) | (141) | ||||||
Preferred stock dividends | (16) | (16) | ||||||
Stock Issued During Period, Shares, New Issues | 1,000 | |||||||
Proceeds from Issuance of Redeemable Preferred Stock | 490 | $ 490 | ||||||
Impact of share repurchase, shares | (13,000) | |||||||
Impact of share repurchases, value | (190) | (190) | ||||||
Impact of stock transaction under compensation plans, net, shares | 4,000 | |||||||
Impact of stock transaction under compensation plans, net | (14) | (14) | ||||||
Ending Balance Outstanding (in shares) at Jun. 30, 2019 | 2,000 | 1,004,000 | ||||||
Ending Balance at Jun. 30, 2019 | $ 16,608 | $ 1,310 | $ 11 | $ 13,380 | $ 3,299 | $ (1,371) | $ (21) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Other | (11) | |||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 0 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Operating activities: | ||
Net income | $ 784 | $ 789 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Provision for loan losses | 183 | 50 |
Depreciation, amortization and accretion, net | 212 | 239 |
Securities (gains) losses, net | 26 | (1) |
Deferred income tax expense | 18 | 109 |
Originations and purchases of loans held for sale | (1,580) | (1,645) |
Proceeds from sales of loans held for sale | 1,420 | 1,525 |
(Gain) loss on sale of loans, net | (55) | (33) |
Net change in operating assets and liabilities: | ||
Other earning assets | 50 | 189 |
Interest receivable and other assets | (234) | (92) |
Other liabilities | 381 | (439) |
Other | 116 | (31) |
Net cash from operating activities | 1,321 | 660 |
Investing activities: | ||
Proceeds from maturities of debt securities held to maturity | 65 | 89 |
Proceeds from sales of debt securities available for sale | 4,121 | 67 |
Proceeds from maturities of debt securities available for sale | 1,682 | 1,680 |
Purchases of debt securities available for sale | (5,167) | (1,774) |
Net proceeds from (payments for) bank-owned life insurance | (4) | 2 |
Proceeds from sales of loans | 327 | 280 |
Purchases of loans | (526) | (215) |
Purchases of mortgage servicing rights | (10) | (2) |
Net change in loans | (398) | (767) |
Net purchases of other assets | (55) | (74) |
Net cash from investing activities | 35 | (714) |
Financing activities: | ||
Net change in deposits | 480 | (1,606) |
Net change in short-term borrowings | 2,650 | 900 |
Proceeds from long-term borrowings | 20,774 | 8,100 |
Payments on long-term borrowings | (24,074) | (6,301) |
Proceeds from Issuance of Redeemable Preferred Stock | 490 | 0 |
Cash dividends on common stock | (286) | (203) |
Cash dividends on preferred stock | (32) | (32) |
Repurchases of common stock | (380) | (470) |
Taxes paid related to net share settlement of equity awards | (27) | (32) |
Other | (1) | 3 |
Net cash from financing activities | (406) | 359 |
Net change in cash and cash equivalents | 950 | 305 |
Cash and cash equivalents at beginning of year | 3,538 | 3,981 |
Cash and cash equivalents at end of period | $ 4,488 | $ 4,286 |
Basis of Presentation |
6 Months Ended |
---|---|
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION Regions Financial Corporation (“Regions” or the "Company”) provides a full range of banking and bank-related services to individual and corporate customers through its subsidiaries and branch offices located across the South, Midwest and Texas. The Company competes with other financial institutions located in the states in which it operates, as well as other adjoining states. Regions is subject to the regulations of certain government agencies and undergoes periodic examinations by certain regulatory authorities. The accounting and reporting policies of Regions and the methods of applying those policies that materially affect the consolidated financial statements conform with GAAP and with general financial services industry practices. The accompanying interim financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and notes to the consolidated financial statements necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows in conformity with GAAP. In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the consolidated financial statements have been included. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto in Regions’ Annual Report on Form 10-K for the year ended December 31, 2018. Regions has evaluated all subsequent events for potential recognition and disclosure through the filing date of this Form 10-Q. Effective January 1, 2019, the Company adopted new accounting guidance related to several topics. See Note 5 and Note 14 for related disclosures.
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Securities |
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities | DEBT SECURITIES The amortized cost, gross unrealized gains and losses, and estimated fair value of debt securities held to maturity and debt securities available for sale are as follows:
(1) The gross unrealized losses recognized in OCI on securities held to maturity resulted from a transfer of securities available for sale to held to maturity in the second quarter of 2013. Debt securities with carrying values of $8.3 billion and $7.9 billion at June 30, 2019, and December 31, 2018, respectively, were pledged to secure public funds, trust deposits and certain borrowing arrangements. Included within total pledged securities is approximately $24 million of encumbered U.S. Treasury securities at both June 30, 2019, and December 31, 2018. The amortized cost and estimated fair value of debt securities held to maturity and debt securities available for sale at June 30, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
The following tables present gross unrealized losses and the related estimated fair value of debt securities held to maturity and debt securities available for sale at June 30, 2019, and December 31, 2018. For debt securities transferred to held to maturity from available for sale, the analysis in the tables below is comparing the securities' original amortized cost to its current estimated fair value. These securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more.
The number of individual debt positions in an unrealized loss position in the tables above decreased from 1,379 at December 31, 2018, to 668 at June 30, 2019. The decrease in the number of securities and the total amount of unrealized losses from year-end 2018 was primarily due to changes in market interest rates. In instances where an unrealized loss existed, there was no indication of an adverse change in credit on the underlying positions in the tables above. As it relates to these positions, management believes no individual unrealized loss, other than those discussed below, represented an OTTI as of those dates. The Company does not intend to sell, and it is not more likely than not that the Company will be required to sell, the positions before the recovery of their amortized cost basis, which may be at maturity. As part of the Company's normal process for evaluating OTTI, management did identify a limited number of positions where an OTTI was believed to exist in certain periods, as shown in the table below. Gross realized gains and gross realized losses on sales of debt securities available for sale are shown in the table below. The cost of securities sold is based on the specific identification method.
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Loans and the Allowance for Credit Losses |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and the Allowance for Credit Losses | LOANS AND THE ALLOWANCE FOR CREDIT LOSSES LOANS The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income:
During the six months ended June 30, 2019 and 2018, Regions purchased approximately $526 million and $215 million in indirect-other consumer and commercial and industrial loans from third parties, respectively. In January 2019, Regions decided to discontinue its indirect auto lending business due to competition-based margin compression impacting overall returns on the portfolio. Regions ceased originating new indirect auto loans in the first quarter of 2019 and completed any in-process indirect auto loan closings at the end of the second quarter of 2019. The Company will remain in the direct auto lending business. At June 30, 2019, $21.7 billion in securities and net eligible loans held by Regions were pledged to secure current and potential borrowings from the FHLB. At June 30, 2019, an additional $25.2 billion in net eligible loans held by Regions were pledged to the FRB for potential borrowings. ALLOWANCE FOR CREDIT LOSSES Regions determines the appropriate level of the allowance on a quarterly basis. Refer to Note 1 “Summary of Significant Accounting Policies” to the consolidated financial statements to the Annual Report on Form 10-K for the year ended December 31, 2018, for a description of the methodology. ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES The following tables present analyses of the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2019 and 2018. The total allowance for loan losses and the related loan portfolio ending balances are disaggregated to detail the amounts derived through individual evaluation and collective evaluation for impairment. The allowance for loan losses related to individually evaluated loans is attributable to reserves for non-accrual commercial and investor real estate loans and all TDRs. The allowance for loan losses and the loan portfolio ending balances related to collectively evaluated loans is attributable to the remainder of the portfolio.
PORTFOLIO SEGMENT RISK FACTORS The following describe the risk characteristics relevant to each of the portfolio segments. Commercial—The commercial portfolio segment includes commercial and industrial loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases or other expansion projects. Commercial also includes owner-occupied commercial real estate mortgage loans to operating businesses, which are loans for long-term financing of land and buildings, and are repaid by cash flow generated by business operations. Owner-occupied construction loans are made to commercial businesses for the development of land or construction of a building where the repayment is derived from revenues generated from the business of the borrower. Collection risk in this portfolio is driven by the creditworthiness of underlying borrowers, particularly cash flow from customers’ business operations, and the sensitivity to market fluctuations in commodity prices. Investor Real Estate—Loans for real estate development are repaid through cash flow related to the operation, sale or refinance of the property. This portfolio segment includes extensions of credit to real estate developers or investors where repayment is dependent on the sale of real estate or income generated from the real estate collateral. A portion of Regions’ investor real estate portfolio segment consists of loans secured by residential product types (land, single-family and condominium loans) within Regions’ markets. Additionally, these loans are made to finance income-producing properties such as apartment buildings, office and industrial buildings, and retail shopping centers. Loans in this portfolio segment are particularly sensitive to the valuation of real estate. Consumer—The consumer portfolio segment includes residential first mortgage, home equity, indirect-vehicles, indirect-other consumer, consumer credit card, and other consumer loans. Residential first mortgage loans represent loans to consumers to finance a residence. These loans are typically financed over a 15 to 30 year term and, in most cases, are extended to borrowers to finance their primary residence. Home equity lending includes both home equity loans and lines of credit. This type of lending, which is secured by a first or second mortgage on the borrower’s residence, allows customers to borrow against the equity in their home. Real estate market values as of the time the loan or line is secured directly affect the amount of credit extended and, in addition, changes in these values impact the depth of potential losses. Indirect-vehicles lending, which is lending initiated through third-party business partners, largely consists of loans made through automotive dealerships. Indirect-other consumer lending represents other point of sale lending through third parties. Consumer credit card lending includes Regions branded consumer credit card accounts. Other consumer loans include other revolving consumer accounts, direct consumer loans, and overdrafts. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures. CREDIT QUALITY INDICATORS The following tables present credit quality indicators for portfolio segments and classes, excluding loans held for sale, as of June 30, 2019, and December 31, 2018. Commercial and investor real estate portfolio segments are detailed by categories related to underlying credit quality and probability of default. Regions assigns these categories at loan origination and reviews the relationship utilizing a risk-based approach on, at minimum, an annual basis or at any time management becomes aware of information affecting the borrowers' ability to fulfill their obligations. Both quantitative and qualitative factors are considered in this review process. These categories are utilized to develop the associated allowance for credit losses.
Substandard accrual and non-accrual loans are often collectively referred to as “classified.” Special mention, substandard accrual, and non-accrual loans are often collectively referred to as “criticized and classified.” Classes in the consumer portfolio segment are disaggregated by accrual status.
AGING ANALYSIS The following tables include an aging analysis of DPD for each portfolio segment and class as of June 30, 2019 and December 31, 2018:
IMPAIRED LOANS The following tables present details related to the Company’s impaired loans as of June 30, 2019 and December 31, 2018. Loans deemed to be impaired include all TDRs and all non-accrual commercial and investor real estate loans, excluding leases. Loans that have been fully charged-off do not appear in the tables below.
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The following table presents the average balances of total impaired loans and interest income for the three and six months ended June 30, 2019 and 2018. Interest income recognized represents interest on accruing loans modified in a TDR.
TROUBLED DEBT RESTRUCTURINGS Regions regularly modifies commercial and investor real estate loans in order to facilitate a workout strategy. Similarly, Regions works to meet the individual needs of consumer borrowers to stem foreclosure through its CAP. Refer to Note 6 "Allowance For Credit Losses" in the 2018 Annual Report on Form 10-K for additional information regarding the Company's TDRs. Further discussion related to TDRs, including their impact on the allowance for loan losses and designation of TDRs in periods subsequent to the modification is included in Note 1 "Summary of Significant Accounting Policies" in the 2018 Annual Report on Form 10-K. The following tables present the end of period balance for loans modified in a TDR during the periods presented by portfolio segment and class, and the financial impact of those modifications. The tables include modifications made to new TDRs, as well as renewals of existing TDRs. Loans first reported as TDRs during the six months ended June 30, 2019 and 2018 totaled approximately $121 million and $219 million, respectively.
TDRs that defaulted during the three and six months ended June 30, 2019 and 2018, and that were modified in the previous twelve months (i.e., the twelve months prior to default) were immaterial. At June 30, 2019, less than $1 million of commercial and investor real estate loans modified as TDRs during the three months ended June 30, 2019 were on non-accrual status. At June 30, 2019, Regions had restructured binding unfunded commitments totaling $6 million where a concession was granted and the borrower was in financial difficulty.
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Servicing of Financial Assets |
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Transfers and Servicing of Financial Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Servicing of Financial Assets | SERVICING OF FINANCIAL ASSETS RESIDENTIAL MORTGAGE BANKING ACTIVITIES The fair value of residential MSRs is calculated using various assumptions including future cash flows, market discount rates, expected prepayment rates, servicing costs and other factors. A significant change in prepayments of mortgages in the servicing portfolio could result in significant changes in the valuation adjustments, thus creating potential volatility in the carrying amount of residential MSRs. The Company compares fair value estimates and assumptions to observable market data where available, and also considers recent market activity and actual portfolio experience. The table below presents an analysis of residential MSRs under the fair value measurement method:
(1) "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns. On March 27, 2019, the Company sold $167 million of affordable housing residential mortgage loans and as part of the transaction kept the rights to service the loans, which resulted in a retained residential MSR of approximately $2 million. Data and assumptions used in the fair value calculation, as well as the valuation’s sensitivity to rate fluctuations, related to residential MSRs (excluding related derivative instruments) are as follows:
The sensitivity calculations above are hypothetical and should not be considered to be predictive of future performance. Changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of an adverse variation in a particular assumption on the fair value of the residential MSRs is calculated without changing any other assumption, while in reality changes in one factor may result in changes in another, which may either magnify or counteract the effect of the change. The derivative instruments utilized by Regions would serve to reduce the estimated impacts to fair value included in the table above. The following table presents servicing related fees, which include contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of residential mortgage loans:
Residential mortgage loans are sold in the secondary market with standard representations and warranties regarding certain characteristics such as the quality of the loan, the absence of fraud, the eligibility of the loan for sale and the future servicing associated with the loan. Regions may be required to repurchase these loans at par, or make-whole or indemnify the purchasers for losses incurred when representations and warranties are breached. Regions maintains an immaterial repurchase liability related to residential mortgage loans sold with representations and warranty provisions. This repurchase liability is reported in other liabilities on the consolidated balance sheets and reflects management’s estimate of losses based on historical repurchase and loss trends, as well as other factors that may result in anticipated losses different from historical loss trends. Adjustments to this reserve are recorded in other non-interest expense on the consolidated statements of income. COMMERCIAL MORTGAGE BANKING ACTIVITIES Regions is an approved DUS lender. The DUS program provides liquidity to the multi-family housing market. In connection with the DUS program, Regions services commercial mortgage loans, retains commercial MSRs and intangible assets associated with the DUS license, and assumes a loss share guarantee associated with the loans. See Note 1 "Summary of Significant Accounting Policies" in the 2018 Annual Report on Form 10-K for additional information. Also see Note 12 for additional information related to the guarantee. As of both June 30, 2019 and December 31, 2018, the DUS servicing portfolio was approximately $3.6 billion. The related commercial MSRs were approximately $55 million and $56 million at June 30, 2019 and December 31, 2018, respectively. The estimated fair value of the loss share guarantee was approximately $5 million at June 30, 2019 and $4 million at December 31, 2018.
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Leases |
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Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases Lessee | LEASES LESSEE Regions' lease portfolio is primarily composed of property leases that are classified as either operating or finance leases with the majority classified as operating leases. Property leases, which primarily include office locations and retail branches, typically have original lease terms ranging from 1 year to 20 years, some of which may also include an option to extend the lease beyond the original lease term. In some circumstances, Regions may also have an option to terminate the lease early with advance notice. Regions includes renewal and termination options within the lease term if deemed reasonably certain of exercise. As most leases do not state an implicit rate, Regions utilizes the incremental borrowing rate based on information available at the lease commencement date to determine the present value of lease payments. Leases with a term of 12 months or less are not recorded on the balance sheet. Regions continues to recognize lease payments as an expense over the lease term as appropriate. The remainder of the lease portfolio is comprised of equipment leases that have remaining lease terms of 1 year to 3 years. As of June 30, 2019, assets and liabilities recorded under operating leases for properties were $430 million and $505 million, respectively. The difference between the asset and liability balance is largely the result of lease liabilities that existed prior to the January 1, 2019 adoption of the new accounting guidance for leases. The asset is recorded within other assets and the lease liability is recorded within other liabilities on the consolidated balance sheet. Lease expense is comprised of the following:
Other information related to operating leases is as follows:
Future, undiscounted minimum lease payments on operating leases are as follows:
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Leases Lessor | LESSOR Regions engages in both direct financing and sales-type leasing. Regions also has portfolios of leveraged and operating leases. These arrangements provide equipment financing for leased assets, such as vehicles and aircraft. At the commencement date, Regions (lessor) enters into an agreement with the customer (lessee) to lease the underlying equipment for a specified lease term. The lease agreements may provide customers the option to terminate the lease by buying the equipment at fair market value at the time of termination or at the end of the lease term. Regions' equipment finance asset management group performs due diligence procedures on the lease residual and overall equipment values as part of the origination process. Regions performs lease residual value reviews on an ongoing basis. In order to manage the residual value risk inherent in some of its direct financing leases, Regions purchases residual value insurance from an independent third party. The sales-type, direct financing and leveraged leases are recorded within loans on the consolidated balance sheet and operating leases are recorded within other earning assets on the consolidated balance sheet. The following tables presents a summary of Regions' sales-type, direct financing, operating, and leveraged leases:
The following table presents the minimum future payments due from customers for sales-type, direct financing, and operating leases:
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Leases Lessor | LESSOR Regions engages in both direct financing and sales-type leasing. Regions also has portfolios of leveraged and operating leases. These arrangements provide equipment financing for leased assets, such as vehicles and aircraft. At the commencement date, Regions (lessor) enters into an agreement with the customer (lessee) to lease the underlying equipment for a specified lease term. The lease agreements may provide customers the option to terminate the lease by buying the equipment at fair market value at the time of termination or at the end of the lease term. Regions' equipment finance asset management group performs due diligence procedures on the lease residual and overall equipment values as part of the origination process. Regions performs lease residual value reviews on an ongoing basis. In order to manage the residual value risk inherent in some of its direct financing leases, Regions purchases residual value insurance from an independent third party. The sales-type, direct financing and leveraged leases are recorded within loans on the consolidated balance sheet and operating leases are recorded within other earning assets on the consolidated balance sheet. The following tables presents a summary of Regions' sales-type, direct financing, operating, and leveraged leases:
The following table presents the minimum future payments due from customers for sales-type, direct financing, and operating leases:
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Leases Lessor | LESSOR Regions engages in both direct financing and sales-type leasing. Regions also has portfolios of leveraged and operating leases. These arrangements provide equipment financing for leased assets, such as vehicles and aircraft. At the commencement date, Regions (lessor) enters into an agreement with the customer (lessee) to lease the underlying equipment for a specified lease term. The lease agreements may provide customers the option to terminate the lease by buying the equipment at fair market value at the time of termination or at the end of the lease term. Regions' equipment finance asset management group performs due diligence procedures on the lease residual and overall equipment values as part of the origination process. Regions performs lease residual value reviews on an ongoing basis. In order to manage the residual value risk inherent in some of its direct financing leases, Regions purchases residual value insurance from an independent third party. The sales-type, direct financing and leveraged leases are recorded within loans on the consolidated balance sheet and operating leases are recorded within other earning assets on the consolidated balance sheet. The following tables presents a summary of Regions' sales-type, direct financing, operating, and leveraged leases:
The following table presents the minimum future payments due from customers for sales-type, direct financing, and operating leases:
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Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) | STOCKHOLDERS’ EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) PREFERRED STOCK The following table presents a summary of the non-cumulative perpetual preferred stock:
(1) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375%, and (ii) for each period beginning on or after September 15, 2024, three-month LIBOR plus 3.536%. (2) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to August 15, 2029, 5.700%, and (ii) for each period beginning on or after August 15, 2029, three-month LIBOR plus 3.148%. For each preferred stock issuance listed above, Regions issued depositary shares, each representing a 1/40th ownership interest in a share of the Company's preferred stock, with a liquidation preference of $1,000.00 per share of preferred stock (equivalent to $25.00 per depositary share). Dividends on the preferred stock, if declared, accrue and are payable quarterly in arrears. The preferred stock has no stated maturity and redemption is solely at Regions' option, subject to regulatory approval, in whole, or in part, after the earliest redemption date or in whole, but not in part, within 90 days following a regulatory capital treatment event for the Series A preferred stock or at any time following a regulatory capital treatment event for the Series B and Series C preferred stock. The Board of Directors declared $16 million in cash dividends on both Series A and Series B Preferred Stock during the first six months of 2019 and 2018. The initial quarterly dividend for Series C Preferred Stock was declared on July 24, 2019, therefore there were no cash dividends for the first six months of 2019. In the event Series A, Series B, and Series C preferred shares are redeemed at the liquidation amounts, $113 million, $67 million, and $10 million excess of the redemption amount over the carrying amount will be recognized, respectively. Approximately $100 million of Series A preferred dividends that were recorded as a reduction of preferred stock, including related surplus, will be recorded as a reduction to retained earnings, and approximately $13 million of related issuance costs that were recorded as a reduction of preferred stock, including related surplus, will be recorded as a reduction to net income available to common shareholders. Approximately $52 million of Series B preferred dividends that were recorded as a reduction of preferred stock, including related surplus, will be recorded as a reduction to retained earnings, and approximately $15 million of related issuance costs that were recorded as a reduction of preferred stock, including related surplus, will be recorded as a reduction to net income available to common shareholders. Approximately $10 million of Series C issuance costs that were recorded as a reduction of preferred stock, including related surplus, will be recorded as a reduction to net income available to common shareholders. COMMON STOCK Regions was not required to participate in the 2019 CCAR; however, as required, the Company did submit its planned capital actions to the Federal Reserve for the third quarter of 2019 through the second quarter of 2020. During the second quarter of 2019, the Board authorized the repurchase of up to $1.37 billion of the Company's common stock, permitting repurchases from the beginning of the third quarter of 2019 through the second quarter of 2020. The Company began to repurchase shares under this plan in the third quarter of 2019, and as of August 6, 2019, Regions had repurchased approximately 9.3 million shares of common stock at a total cost of approximately $144.8 million. All of these shares were retired upon repurchase and, therefore will not be included in treasury stock. Prior to the new common stock repurchase plan, Regions had authorization to repurchase $2.031 billion in common shares. As of June 30, 2019, Regions had repurchased approximately 115.38 million shares of common stock, through open market purchases and a contractual repurchase agreement, at a total cost of $2.031 billion under this plan and concluded the plan during the second quarter of 2019. Regions' Board declared a cash dividend for both the first and second quarter of 2019 of $0.14 per share, totaling $0.28 per common share for the first six months of 2019. The Board declared a cash dividend for both the first and second quarter of 2018 of $0.09 per share, totaling $0.18 per common share for the first six months of 2018. On July 24, 2019, the Board declared an increase of the quarterly common stock dividend to $0.155 per share. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Activity within the balances in accumulated other comprehensive income (loss), net is shown in the following tables:
The following tables present amounts reclassified out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2019 and 2018:
(1) Amounts in parentheses indicate reductions to net income. (2) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost and are included in other non-interest expense on the consolidated statements of income (See Note 8 for additional details).
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Earnings (Loss) Per Common Share |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings (Loss) Per Common Share | EARNINGS PER COMMON SHARE The following table sets forth the computation of basic earnings per common share and diluted earnings per common share:
The effects from the assumed exercise of 9 million and 7 million stock options, restricted stock units and awards and performance stock units for the three and six months ended June 30, 2019 respectively, were not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share. The effects from the assumed exercise of 6 million stock options, restricted stock units and awards and performance stock units for both the three and six months ended June 30, 2018 was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.
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Pension and Other Postretirement Benefits |
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Defined Benefit Plan [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension and Other Postretirement Benefits | PENSION AND OTHER POSTRETIREMENT BENEFITS Regions' defined benefit pension plans cover certain employees as the pension plans are closed to new entrants. The Company also sponsors a SERP, which is a non-qualified pension plan that provides certain senior executive officers defined benefits in relation to their compensation. Net periodic pension cost (credit) includes the following components:
The service cost component of net periodic pension cost (credit) is recorded in salaries and employee benefits on the consolidated statements of income. Components other than service cost are recorded in other non-interest expense on the consolidated statements of income. Regions' funding policy for the qualified plans is to contribute annually at least the amount required by IRS minimum funding standards. Regions made no contributions during the first six months of 2019. Regions also provides other postretirement benefits, such as defined benefit health care plans and life insurance plans, that cover certain retired employees. There was no material impact from other postretirement benefits on the consolidated financial statements for the six months ended June 30, 2019 or 2018.
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Derivative Financial Instruments and Hedging Activities |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments and Hedging Activities | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES The following tables present the notional amount and estimated fair value of derivative instruments on a gross basis as of June 30, 2019 and December 31, 2018.
HEDGING DERIVATIVES Derivatives entered into to manage interest rate risk and facilitate asset/liability management strategies are designated as hedging derivatives. Derivative financial instruments that qualify in a hedging relationship are classified, based on the exposure being hedged, as either fair value hedges or cash flow hedges. See Note 1 "Summary of Significant Accounting Policies" of the Annual Report on Form 10-K for the year ended December 31, 2018, for additional information regarding accounting policies for derivatives. FAIR VALUE HEDGES Fair value hedge relationships mitigate exposure to the change in fair value of an asset, liability or firm commitment. Regions enters into interest rate swap agreements to manage interest rate exposure on the Company’s fixed-rate borrowings. These agreements involve the receipt of fixed-rate amounts in exchange for floating-rate interest payments over the life of the agreements. Regions enters into interest rate swap agreements to manage interest rate exposure on certain of the Company's fixed-rate available for sale debt securities. These agreements involve the payment of fixed-rate amounts in exchange for floating-rate interest receipts. CASH FLOW HEDGES Cash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted transactions. Regions enters into interest rate swap and floor agreements to manage overall cash flow changes related to interest rate risk exposure on LIBOR-based loans. The agreements effectively modify the Company’s exposure to interest rate risk by utilizing receive fixed/pay LIBOR interest rate swaps and interest rate floors. Regions recognized an unrealized after-tax gain of $45 million and $125 million in accumulated other comprehensive income (loss) at June 30, 2019 and 2018, respectively, related to discontinued cash flow hedges of loan instruments, which will be amortized into earnings in conjunction with the recognition of interest payments through 2025. Regions recognized pre-tax income of $3 million and $14 million during the three months ended June 30, 2019 and 2018, respectively, and pre-tax income of $8 million and $29 million during the six months ended June 30, 2019 and 2018, respectively, related to the amortization of discontinued cash flow hedges of loan instruments. Regions expects to reclassify into earnings approximately $11 million in pre-tax income due to the receipt or payment of interest payments and floor premium amortization on all cash flow hedges within the next twelve months. Included in this amount is $8 million in pre-tax net gains related to the amortization of discontinued cash flow hedges. The maximum length of time over which Regions is hedging its exposure to the variability in future cash flows for forecasted transactions is approximately eight years as of June 30, 2019, and a portion of these hedges are forward starting. The following tables present the effect of hedging derivative instruments on the consolidated statements of income and the total amounts for the respective line items effected:
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The following table presents the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships.
DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS The Company holds a portfolio of interest rate swaps, option contracts, and futures and forward commitments that result from transactions with its commercial customers in which they manage their risks by entering into a derivative with Regions. The Company monitors and manages the net risk in this customer portfolio and enters into separate derivative contracts in order to reduce the overall exposure to pre-defined limits. For both derivatives with its end customers and derivatives Regions enters into to mitigate the risk in this portfolio, the Company is subject to market risk and the risk that the counterparty will default. The contracts in this portfolio are not designated as accounting hedges and are marked-to market through earnings (in capital markets fee income) and included in other assets and other liabilities, as appropriate. Regions enters into interest rate lock commitments, which are commitments to originate mortgage loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. At June 30, 2019 and December 31, 2018, Regions had $389 million and $191 million, respectively, in total notional amount of interest rate lock commitments. Regions manages market risk on interest rate lock commitments and mortgage loans held for sale with corresponding forward sale commitments. Residential mortgage loans held for sale are recorded at fair value with changes in fair value recorded in mortgage income. Commercial mortgage loans held for sale are recorded at either the lower of cost or market or at fair value based on management's election. At June 30, 2019 and December 31, 2018, Regions had $767 million and $429 million, respectively, in total notional amounts related to these forward sale commitments. Changes in mark-to-market from both interest rate lock commitments and corresponding forward sale commitments related to residential mortgage loans are included in mortgage income. Changes in mark-to-market from both interest rate lock commitments and corresponding forward sale commitments related to commercial mortgage loans are included in capital markets fee income. Regions has elected to account for residential MSRs at fair value with any changes to fair value being recorded within mortgage income. Concurrent with the election to use the fair value measurement method, Regions began using various derivative instruments, in the form of forward rate commitments, futures contracts, swaps and swaptions to mitigate the effect of changes in the fair value of its residential MSRs in its consolidated statements of income. As of June 30, 2019 and December 31, 2018, the total notional amount related to these contracts was $4.1 billion and $5.7 billion, respectively. The following table presents the location and amount of gain or (loss) recognized in income on derivatives not designated as hedging instruments in the consolidated statements of income for the periods presented below:
Credit risk, defined as all positive exposures not collateralized with cash or other assets or reserved for, at June 30, 2019 and December 31, 2018, totaled approximately $358 million and $130 million, respectively. These amounts represent the net credit risk on all trading and other derivative positions held by Regions. CREDIT DERIVATIVES Regions has both bought and sold credit protection in the form of participations on interest rate swaps (swap participations). These swap participations, which meet the definition of credit derivatives, were entered into in the ordinary course of business to serve the credit needs of customers. Swap participations, whereby Regions has purchased credit protection, entitle Regions to receive a payment from the counterparty if the customer fails to make payment on any amounts due to Regions upon early termination of the swap transaction and have maturities between 2019 and 2026. Swap participations, whereby Regions has sold credit protection have maturities between 2019 and 2038. For contracts where Regions sold credit protection, Regions would be required to make payment to the counterparty if the customer fails to make payment on any amounts due to the counterparty upon early termination of the swap transaction. Regions bases the current status of the prepayment/performance risk on bought and sold credit derivatives on recently issued internal risk ratings consistent with the risk management practices of unfunded commitments. Regions’ maximum potential amount of future payments under these contracts as of June 30, 2019 was approximately $600 million. This scenario would only occur if variable interest rates were at zero percent and all counterparties defaulted with zero recovery. The fair value of sold protection at June 30, 2019 and 2018 was immaterial. In transactions where Regions has sold credit protection, recourse to collateral associated with the original swap transaction is available to offset some or all of Regions’ obligation. Regions has bought credit protection in the form of credit default indices. These indices, which meet the definition of credit derivatives, were entered into in the ordinary course of business to economically hedge credit spread risk in commercial mortgage loans held for sale whereby the fair value option has been elected. Credit derivatives, whereby Regions has purchased credit protection, entitle Regions to receive a payment from the counterparty if losses on the underlying index exceed a certain threshold, dependent upon the tranche rating of the capital structure. CONTINGENT FEATURES Certain of Regions’ derivative instrument contracts with broker-dealers contain credit-related termination provisions and/or credit-related provisions regarding the posting of collateral, allowing those broker-dealers to terminate the contracts in the event that Regions’ and/or Regions Bank’s credit ratings falls below specified ratings from certain major credit rating agencies. The aggregate fair values of all derivative instruments with any credit-risk-related contingent features that were in a liability position on June 30, 2019 and December 31, 2018, were $53 million and $45 million, respectively, for which Regions had posted collateral of $53 million and $43 million, respectively, in the normal course of business.
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Fair Value Measurements |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS See Note 1 “Summary of Significant Accounting Policies” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for a description of valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis. Assets and liabilities measured at fair value rarely transfer between Level 1 and Level 2 measurements. Marketable equity securities and debt securities available for sale may be periodically transferred to or from Level 3 valuation based on management’s conclusion regarding the observability of inputs used in valuing the securities. Such transfers are accounted for as if they occur at the beginning of a reporting period. The following table presents assets and liabilities measured at estimated fair value on a recurring basis and non-recurring basis as of June 30, 2019 and December 31, 2018:
_________
Assets and liabilities in all levels could result in volatile and material price fluctuations. Realized and unrealized gains and losses on Level 3 assets represent only a portion of the risk to market fluctuations in Regions’ consolidated balance sheets. Further, derivatives included in Levels 2 and 3 are used by ALCO in a holistic approach to managing price fluctuation risks. The following tables illustrate rollforwards for all material assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2019 and 2018, respectively. The net changes in realized gains (losses) included in earnings related to Level 3 assets and liabilities held at June 30, 2019 and 2018 are not material.
(1) Included in mortgage income. The following table presents the fair value adjustments related to non-recurring fair value measurements:
The following tables present detailed information regarding material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of June 30, 2019, and December 31, 2018. The tables include the valuation techniques and the significant unobservable inputs utilized. The range of each significant unobservable input as well as the weighted-average within the range utilized at June 30, 2019, and December 31, 2018, are included. Following the tables are descriptions of the valuation techniques and the sensitivity of the techniques to changes in the significant unobservable inputs.
_________ (1) See Note 4 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights.
_________ (1) See Note 7 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. RECURRING FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS Residential mortgage servicing rights The significant unobservable inputs used in the fair value measurement of residential MSRs are OAS and CPR. This valuation requires generating cash flow projections over multiple interest rate scenarios and discounting those cash flows at a risk-adjusted rate. Additionally, the impact of prepayments and changes in the OAS are based on a variety of underlying inputs including servicing costs. Increases or decreases to the underlying cash flow inputs will have a corresponding impact on the value of the MSR asset. The net change in unrealized gains (losses) included in earnings related to MSRs held at period end are disclosed as the changes in valuation inputs or assumptions included in the MSR rollforward table in Note 4. See Note 4 for these amounts and additional disclosures related to assumptions used in the fair value calculation for MSRs. FAIR VALUE OPTION Regions has elected the fair value option for all FNMA and FHLMC eligible residential mortgage loans and certain commercial mortgage loans originated with the intent to sell. These elections allow for a more effective offset of the changes in fair values of the loans and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting. Regions has not elected the fair value option for other loans held for sale primarily because they are not economically hedged using derivative instruments. Fair values of residential mortgage loans held for sale are based on traded market prices of similar assets where available and/or discounted cash flows at market interest rates, adjusted for securitization activities that include servicing values and market conditions, and are recorded in loans held for sale in the consolidated balance sheets. The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value:
Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest income on loans held for sale in the consolidated statements of income. The following table details net gains and losses resulting from changes in fair value of these loans, which were recorded in mortgage income in the consolidated statements of income during the three and six months ended June 30, 2019 and 2018. These changes in fair value are mostly offset by economic hedging activities. An immaterial portion of these amounts was attributable to changes in instrument-specific credit risk.
The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of June 30, 2019 are as follows:
_________
The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company's financial instruments as of December 31, 2018 are as follows:
_________
(4) Excluded from this table is the operating lease carrying amount of $369 million at December 31, 2018.
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Business Segment Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Segment Information | BUSINESS SEGMENT INFORMATION Each of Regions’ reportable segments is a strategic business unit that serves specific needs of Regions’ customers based on the products and services provided. The segments are based on the manner in which management views the financial performance of the business. The Company has three reportable segments: Corporate Bank, Consumer Bank, and Wealth Management, with the remainder split between Discontinued Operations and Other. Additional information about the Company's reportable segments is included in Regions' Annual Report on Form 10-K for the year ended December 31, 2018. The application and development of management reporting methodologies is a dynamic process and is subject to periodic enhancements. As these enhancements are made, financial results presented by each reportable segment may be periodically revised. Discontinued operations includes all brokerage and investment activities associated with the sale of Morgan Keegan which closed on April 2, 2012, as well as the sale of Regions Insurance Group, Inc. and related affiliates, which closed on July 2, 2018. See Note 3 "Discontinued Operations" to the consolidated financial statements in the Annual Report on Form 10-K for the year ended December 31, 2018 for further discussion. The following tables present financial information for each reportable segment for the period indicated.
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Commitments, Contingencies and Guarantees |
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments, Contingencies and Guarantees | COMMITMENTS, CONTINGENCIES AND GUARANTEES COMMERCIAL COMMITMENTS Regions issues off-balance sheet financial instruments in connection with lending activities. The credit risk associated with these instruments is essentially the same as that involved in extending loans to customers and is subject to Regions’ normal credit approval policies and procedures. Regions measures inherent risk associated with these instruments by recording a reserve for unfunded commitments based on an assessment of the likelihood that the guarantee will be funded and the creditworthiness of the customer or counterparty. Collateral is obtained based on management’s assessment of the creditworthiness of the customer. Credit risk associated with these instruments is represented by the contractual amounts indicated in the following table:
Unused commitments to extend credit—To accommodate the financial needs of its customers, Regions makes commitments under various terms to lend funds to consumers, businesses and other entities. These commitments include (among others) credit card and other revolving credit agreements, term loan commitments and short-term borrowing agreements. Many of these loan commitments have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of these commitments are expected to expire without being funded, the total commitment amounts do not necessarily represent future liquidity requirements. Standby letters of credit—Standby letters of credit are also issued to customers, which commit Regions to make payments on behalf of customers if certain specified future events occur. Regions has recourse against the customer for any amount required to be paid to a third party under a standby letter of credit. Historically, a large percentage of standby letters of credit expire without being funded. The contractual amount of standby letters of credit represents the maximum potential amount of future payments Regions could be required to make and represents Regions’ maximum credit risk. Commercial letters of credit—Commercial letters of credit are issued to facilitate foreign or domestic trade transactions for customers. As a general rule, drafts will be drawn when the goods underlying the transaction are in transit. LEGAL CONTINGENCIES Regions and its subsidiaries are subject to loss contingencies related to litigation, claims, investigations and legal and administrative cases and proceedings arising in the ordinary course of business. Regions evaluates these contingencies based on information currently available, including advice of counsel. Regions establishes accruals for those matters when a loss contingency is considered probable and the related amount is reasonably estimable. Any accruals are periodically reviewed and may be adjusted as circumstances change. Some of Regions' exposure with respect to loss contingencies may be offset by applicable insurance coverage. In determining the amounts of any accruals or estimates of possible loss contingencies however, Regions does not take into account the availability of insurance coverage. To the extent that Regions has an insurance recovery, the proceeds are recorded in the period the recovery is received. In addition, Regions has agreed to indemnify Raymond James for all legal matters resulting from pre-closing activities in conjunction with the sale of Morgan Keegan and recorded an indemnification obligation at fair value in the second quarter of 2012. When it is practicable, Regions estimates possible loss contingencies, whether or not there is an accrued probable loss. When Regions is able to estimate such possible losses, and when it is reasonably possible Regions could incur losses in excess of amounts accrued, Regions discloses the aggregate estimation of such possible losses. Regions currently estimates that it is reasonably possible that it may experience losses in excess of what Regions has accrued in an aggregate amount of up to approximately $20 million as of June 30, 2019, with it also being reasonably possible that Regions could incur no losses in excess of amounts accrued. However, as available information changes, the matters for which Regions is able to estimate, as well as the estimates themselves will be adjusted accordingly. The reasonably possible estimate includes legal contingencies that are subject to the indemnification agreement with Raymond James. Assessments of litigation and claims exposure are difficult because they involve inherently unpredictable factors including, but not limited to, the following: whether the proceeding is in the early stages; whether damages are unspecified, unsupported, or uncertain; whether there is a potential for punitive or other pecuniary damages; whether the matter involves legal uncertainties, including novel issues of law; whether the matter involves multiple parties and/or jurisdictions; whether discovery has begun or is not complete; whether meaningful settlement discussions have commenced; and whether the lawsuit involves class allegations. Assessments of class action litigation, which is generally more complex than other types of litigation, are particularly difficult, especially in the early stages of the proceeding when it is not known whether a class will be certified or how a potential class, if certified, will be defined. As a result, Regions may be unable to estimate reasonably possible losses with respect to some of the matters disclosed below, and the aggregated estimated amount discussed above may not include an estimate for every matter disclosed below. Regions is involved in formal and informal information-gathering requests, investigations, reviews, examinations and proceedings by various governmental regulatory agencies, law enforcement authorities and self-regulatory bodies regarding Regions’ business, Regions' business practices and policies, and the conduct of persons with whom Regions does business. Additional inquiries will arise from time to time. In connection with those inquiries, Regions receives document requests, subpoenas and other requests for information. The inquiries, including the one described below, could develop into administrative, civil or criminal proceedings or enforcement actions that could result in consequences that have a material effect on Regions' consolidated financial position, results of operations or cash flows as a whole. Such consequences could include adverse judgments, findings, settlements, penalties, fines, orders, injunctions, restitution, or alterations in our business practices, and could result in additional expenses and collateral costs, including reputational damage. Regions is cooperating with an investigation by the United States Attorney’s Office for the Eastern District of New York pertaining to Regions' banking relationship with a former customer and accounts maintained by related entities and individuals affiliated with the customer who may be involved in criminal activity, as well as related aspects of Regions' Anti-Money Laundering and Bank Secrecy Act compliance program. While the final outcome of litigation and claims exposures or of any inquiries is inherently unpredictable, management is currently of the opinion that the outcome of pending and threatened litigation and inquiries will not have a material effect on Regions’ business, consolidated financial position, results of operations or cash flows as a whole. However, in the event of unexpected future developments, it is reasonably possible that an adverse outcome in any of the matters discussed above could be material to Regions’ business, consolidated financial position, results of operations or cash flows for any particular reporting period of occurrence. GUARANTEES INDEMNIFICATION OBLIGATION As discussed in Note 3 in the Annual Report on Form 10-K for the year ended December 31, 2018, on April 2, 2012 (“Closing Date”), Regions closed the sale of Morgan Keegan and related affiliates to Raymond James. In connection with the sale, Regions agreed to indemnify Raymond James for all legal matters related to pre-closing activities, including matters filed subsequent to the Closing Date that relate to actions that occurred prior to closing. Losses under the indemnification include legal and other expenses, such as costs for judgments, settlements and awards associated with the defense and resolution of the indemnified matters. The maximum potential amount of future payments that Regions could be required to make under the indemnification is indeterminable due to the indefinite term of some of the obligations. As of June 30, 2019, the carrying value and fair value of the indemnification obligation were immaterial. FANNIE MAE DUS LOSS SHARE GUARANTEE Regions is a DUS lender. The DUS program provides liquidity to the multi-family housing market. Regions services loans sold to Fannie Mae and is required to provide a loss share guarantee equal to one-third of the majority of its DUS servicing portfolio. At both June 30, 2019 and December 31, 2018, the Company's DUS servicing portfolio totaled approximately $3.6 billion. Regions' maximum quantifiable contingent liability related to its loss share guarantee was approximately $1.2 billion at both June 30, 2019 and December 31, 2018. The Company would be liable for this amount only if all of the loans it services for Fannie Mae, for which the Company retains some risk of loss, were to default and all of the collateral underlying these loans was determined to be without value at the time of settlement. Therefore, the maximum quantifiable contingent liability is not representative of the actual loss the Company would be expected to incur. The estimated fair value of the associated loss share guarantee recorded as a liability on the Company's consolidated balance sheets was approximately $5 million at June 30, 2019 and $4 million at December 31, 2018. Refer to Note 1 "Summary of Significant Accounting Policies" to the consolidated financial statements in the Annual Report on Form 10-K for the year ended December 31, 2018, for additional information.
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Revenue Recognition |
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Revenue Recognition [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Recognition | REVENUE RECOGNITION The Company records revenue when control of the promised products or services is transferred to the customer, in an amount that reflects the consideration Regions expects to be entitled to receive in exchange for those products or services. Refer to Note 1 “Summary of Significant Accounting Policies” to the consolidated financial statements to the Annual Report on Form 10-K for the year ended December 31, 2018, for descriptions of the accounting and reporting policies related to revenue recognition. The following tables present total non-interest income disaggregated by major product category for each reportable segment for the period indicated.
________ (1) This revenue is not impacted by the accounting guidance related to revenue from contracts with customers and continues to be recognized when earned in accordance with the Company's existing revenue recognition policy.
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Recent Accounting Pronouncements |
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New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS
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Securities (Tables) |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Amortized Cost, Gross Unrealized Gains and Losses, And Estimated Fair Value Of Debt Securities Available For Sale And Debt Securities Held To Maturity | The amortized cost, gross unrealized gains and losses, and estimated fair value of debt securities held to maturity and debt securities available for sale are as follows:
(1) The gross unrealized losses recognized in OCI on securities held to maturity resulted from a transfer of securities available for sale to held to maturity in the second quarter of 2013. |
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Schedule Of Cost And Estimated Fair Value Of Debt Securities Available For Sale And Debt Securities Held To Maturity By Contractual Maturity | The amortized cost and estimated fair value of debt securities held to maturity and debt securities available for sale at June 30, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
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Schedule Of Gross Unrealized Losses And Estimated Fair Value Of Debt Securities Available For Sale and Held to Maturity | The following tables present gross unrealized losses and the related estimated fair value of debt securities held to maturity and debt securities available for sale at June 30, 2019, and December 31, 2018. For debt securities transferred to held to maturity from available for sale, the analysis in the tables below is comparing the securities' original amortized cost to its current estimated fair value. These securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more.
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Schedule of Gross Realized Gains And Gross Realized Losses On Available For Sale Debt Securities | Gross realized gains and gross realized losses on sales of debt securities available for sale are shown in the table below. The cost of securities sold is based on the specific identification method.
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Loans and the Allowance for Credit Losses (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income:
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Analysis of the Allowance for Credit Losses by Portfolio Segment | The following tables present analyses of the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2019 and 2018. The total allowance for loan losses and the related loan portfolio ending balances are disaggregated to detail the amounts derived through individual evaluation and collective evaluation for impairment. The allowance for loan losses related to individually evaluated loans is attributable to reserves for non-accrual commercial and investor real estate loans and all TDRs. The allowance for loan losses and the loan portfolio ending balances related to collectively evaluated loans is attributable to the remainder of the portfolio.
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Financing Receivable Credit Quality Indicators |
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Past Due Financing Receivables | The following tables include an aging analysis of DPD for each portfolio segment and class as of June 30, 2019 and December 31, 2018:
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Impaired Financing Receivables | The following tables present details related to the Company’s impaired loans as of June 30, 2019 and December 31, 2018. Loans deemed to be impaired include all TDRs and all non-accrual commercial and investor real estate loans, excluding leases. Loans that have been fully charged-off do not appear in the tables below.
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The following table presents the average balances of total impaired loans and interest income for the three and six months ended June 30, 2019 and 2018. Interest income recognized represents interest on accruing loans modified in a TDR.
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Troubled Debt Restructurings on Financing Receivables | The following tables present the end of period balance for loans modified in a TDR during the periods presented by portfolio segment and class, and the financial impact of those modifications. The tables include modifications made to new TDRs, as well as renewals of existing TDRs. Loans first reported as TDRs during the six months ended June 30, 2019 and 2018 totaled approximately $121 million and $219 million, respectively.
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Servicing of Financial Assets (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Transfers and Servicing of Financial Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Residential Mortgage Servicing Rights Under The Fair Value Measurement Method | The table below presents an analysis of residential MSRs under the fair value measurement method:
(1) "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns.
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Data And Assumptions Used In The Fair Value Calculation As Well As The Valuation's Sensitivity To Rate Fluctuations Related To Residential Mortgage Servicing Rights | Data and assumptions used in the fair value calculation, as well as the valuation’s sensitivity to rate fluctuations, related to residential MSRs (excluding related derivative instruments) are as follows:
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Schedule Of Fees Resulting From The Servicing Of Residential Mortgage Loans | The following table presents servicing related fees, which include contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of residential mortgage loans:
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Leases (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease expense and other information related to operating leases | Lease expense is comprised of the following:
Other information related to operating leases is as follows:
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Future, undiscounted minimum lease payments on operating leases | Future, undiscounted minimum lease payments on operating leases are as follows:
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Summary of sales-type, direct financing, operating, and leveraged leases | The following tables presents a summary of Regions' sales-type, direct financing, operating, and leveraged leases:
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Summary of sales-type, direct financing, operating, and leveraged leases | The following tables presents a summary of Regions' sales-type, direct financing, operating, and leveraged leases:
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Summary of sales-type, direct financing, operating, and leveraged leases | The following tables presents a summary of Regions' sales-type, direct financing, operating, and leveraged leases:
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Minimum future payments due from customers for sales-type, direct financing, and operating leases | The following table presents the minimum future payments due from customers for sales-type, direct financing, and operating leases:
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Minimum future payments due from customers for sales-type, direct financing, and operating leases | The following table presents the minimum future payments due from customers for sales-type, direct financing, and operating leases:
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Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of the non-cumulative perpetual preferred stock | The following table presents a summary of the non-cumulative perpetual preferred stock:
(1) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375%, and (ii) for each period beginning on or after September 15, 2024, three-month LIBOR plus 3.536%. (2) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to August 15, 2029, 5.700%, and (ii) for each period beginning on or after August 15, 2029, three-month LIBOR plus 3.148%.
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Schedule of Accumulated Other Comprehensive Income (Loss) | Activity within the balances in accumulated other comprehensive income (loss), net is shown in the following tables:
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Reclassification From Accumulated Other Comprehensive Income (Loss) | The following tables present amounts reclassified out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2019 and 2018:
(1) Amounts in parentheses indicate reductions to net income. (2) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost and are included in other non-interest expense on the consolidated statements of income (See Note 8 for additional details).
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Earnings (Loss) Per Common Share (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of basic earnings per common share and diluted earnings per common share:
(3) In a period where there is a loss from discontinued operations, basic weighted-average common shares outstanding are used to determine both basic and diluted earnings per share.
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Pension and Other Postretirement Benefits (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Periodic Pension Cost | Net periodic pension cost (credit) includes the following components:
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Derivative Financial Instruments and Hedging Activities (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Derivative Instruments Notional And Fair Values | The following tables present the notional amount and estimated fair value of derivative instruments on a gross basis as of June 30, 2019 and December 31, 2018.
(3) As of both June 30, 2019 and December 31, 2018, financial instruments posted of $24 million were not offset in the consolidated balance sheets.
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Schedule Of Effect Of Hedging Derivative Instruments On Statements Of Operations | The following tables present the effect of hedging derivative instruments on the consolidated statements of income and the total amounts for the respective line items effected:
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(2) Pre-tax
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Schedule of Fair Value Hedging Basis Adjustments | The following table presents the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships.
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Schedule of Gains (Losses) Recognized Related to Derivatives Not Designated as Hedging Instruments | The following table presents the location and amount of gain or (loss) recognized in income on derivatives not designated as hedging instruments in the consolidated statements of income for the periods presented below:
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Fair Value Measurements (Tables) |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Assets And Liabilities At Fair Value Measured On A Recurring Basis And Non-Recurring Basis | The following table presents assets and liabilities measured at estimated fair value on a recurring basis and non-recurring basis as of June 30, 2019 and December 31, 2018:
_________
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Rollforward For Assets And Liabilities Measured At Fair Value On A Recurring Basis With Level 3 Significant Unobservable Inputs | The following tables illustrate rollforwards for all material assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2019 and 2018, respectively. The net changes in realized gains (losses) included in earnings related to Level 3 assets and liabilities held at June 30, 2019 and 2018 are not material.
(1) Included in mortgage income.
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Schedule Of Fair Value Adjustments Related To Non-Recurring Fair Value Measurements | The following table presents the fair value adjustments related to non-recurring fair value measurements:
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Summary Of Quantitative Information About Level 3 Measurements | The following tables present detailed information regarding material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of June 30, 2019, and December 31, 2018. The tables include the valuation techniques and the significant unobservable inputs utilized. The range of each significant unobservable input as well as the weighted-average within the range utilized at June 30, 2019, and December 31, 2018, are included. Following the tables are descriptions of the valuation techniques and the sensitivity of the techniques to changes in the significant unobservable inputs.
_________ (1) See Note 4 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights.
_________ (1) See Note 7 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights.
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Fair Value Option, Fair Value and Unpaid Principal Balance | The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value:
Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest income on loans held for sale in the consolidated statements of income. The following table details net gains and losses resulting from changes in fair value of these loans, which were recorded in mortgage income in the consolidated statements of income during the three and six months ended June 30, 2019 and 2018. These changes in fair value are mostly offset by economic hedging activities. An immaterial portion of these amounts was attributable to changes in instrument-specific credit risk.
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Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of June 30, 2019 are as follows:
_________
The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company's financial instruments as of December 31, 2018 are as follows:
_________
(4) Excluded from this table is the operating lease carrying amount of $369 million at December 31, 2018.
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Business Segment Information (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Financial Information By Reportable Segment | The following tables present financial information for each reportable segment for the period indicated.
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Commitments, Contingencies and Guarantees (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Risk Of Off-Balance Sheet Financial Instruments By Contractual Amounts | Credit risk associated with these instruments is represented by the contractual amounts indicated in the following table:
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Revenue Recognition (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Recognition [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue | The following tables present total non-interest income disaggregated by major product category for each reportable segment for the period indicated.
________ (1) This revenue is not impacted by the accounting guidance related to revenue from contracts with customers and continues to be recognized when earned in accordance with the Company's existing revenue recognition policy.
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Securities (Schedule Of Amortized Cost, Gross Unrealized Gains And Losses, And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||
---|---|---|---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities held to maturity, amortized cost | $ 1,447 | $ 1,517 | |||
Held To Maturity Debt Securities Gross Unrealized Gains | [1] | 0 | 0 | ||
Held To Maturity Debt Securities Gross Unrealized Losses | [1] | (32) | (35) | ||
Debt Securities held to maturity | 1,415 | 1,482 | |||
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 37 | 1 | |||
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | (4) | (23) | |||
Debt Securities held to maturity, estimated fair value | 1,448 | 1,460 | |||
Debt Securities, Available-for-sale [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 22,553 | 23,258 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 240 | 38 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (94) | (567) | |||
Available-for-sale debt securities, net carrying value | 22,699 | 22,729 | |||
Debt securities available for sale | 22,699 | 22,729 | |||
US Treasury Securities [Member] | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 174 | 284 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2 | 0 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | (4) | |||
Available-for-sale debt securities, net carrying value | 176 | 280 | |||
Debt securities available for sale | 176 | 280 | |||
Federal Agency Securities [Member] | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 42 | 43 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2 | 0 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |||
Available-for-sale debt securities, net carrying value | 44 | 43 | |||
Debt securities available for sale | 44 | 43 | |||
Residential Agency [Member] | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities held to maturity, amortized cost | 816 | 883 | |||
Held To Maturity Debt Securities Gross Unrealized Gains | [1] | 0 | 0 | ||
Held To Maturity Debt Securities Gross Unrealized Losses | [1] | (29) | (32) | ||
Debt Securities held to maturity | 787 | 851 | |||
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 18 | 1 | |||
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | (1) | (10) | |||
Debt Securities held to maturity, estimated fair value | 804 | 842 | |||
Debt Securities, Available-for-sale [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 16,717 | 17,064 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 124 | 26 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (90) | (466) | |||
Available-for-sale debt securities, net carrying value | 16,751 | 16,624 | |||
Debt securities available for sale | 16,751 | 16,624 | |||
Residential Non-Agency [Member] | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 2 | 2 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |||
Available-for-sale debt securities, net carrying value | 2 | 2 | |||
Debt securities available for sale | 2 | 2 | |||
Commercial Agency [Member] | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities held to maturity, amortized cost | 631 | 634 | |||
Held To Maturity Debt Securities Gross Unrealized Gains | [1] | 0 | 0 | ||
Held To Maturity Debt Securities Gross Unrealized Losses | [1] | (3) | (3) | ||
Debt Securities held to maturity | 628 | 631 | |||
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 19 | 0 | |||
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | (3) | (13) | |||
Debt Securities held to maturity, estimated fair value | 644 | 618 | |||
Debt Securities, Available-for-sale [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 3,670 | 3,891 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 74 | 8 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (3) | (64) | |||
Available-for-sale debt securities, net carrying value | 3,741 | 3,835 | |||
Debt securities available for sale | 3,741 | 3,835 | |||
Commercial Non-Agency [Member] | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 699 | 768 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 8 | 2 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | (10) | |||
Available-for-sale debt securities, net carrying value | 707 | 760 | |||
Debt securities available for sale | 707 | 760 | |||
Corporate and other debt securities [Member] | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 1,249 | 1,206 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 30 | 2 | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1) | (23) | |||
Available-for-sale debt securities, net carrying value | 1,278 | 1,185 | |||
Debt securities available for sale | $ 1,278 | $ 1,185 | |||
|
Securities (Schedule Of Cost And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity By Contractual Maturity) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Debt Securities held to maturity, amortized cost | $ 1,447 | $ 1,517 |
Debt Securities held to maturity, estimated fair value | 1,448 | 1,460 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | 74 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 75 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 1,016 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 1,031 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 319 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 333 | |
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost | 56 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 59 | |
Debt Securities, Available-for-sale, Amortized Cost | 22,553 | 23,258 |
Debt securities available for sale | 22,699 | 22,729 |
Residential Agency [Member] | ||
Debt Securities held to maturity, amortized cost | 816 | 883 |
Debt Securities held to maturity, estimated fair value | 804 | 842 |
Debt Securities, Available-for-sale, Amortized Cost | 16,717 | 17,064 |
Debt securities available for sale | 16,751 | 16,624 |
Residential Non-Agency [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost | 2 | 2 |
Debt securities available for sale | 2 | 2 |
Commercial Agency [Member] | ||
Debt Securities held to maturity, amortized cost | 631 | 634 |
Debt Securities held to maturity, estimated fair value | 644 | 618 |
Debt Securities, Available-for-sale, Amortized Cost | 3,670 | 3,891 |
Debt securities available for sale | 3,741 | 3,835 |
Commercial Non-Agency [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost | 699 | 768 |
Debt securities available for sale | $ 707 | $ 760 |
Securities (Schedule Of Gross Unrealized Losses And Estimated Fair Value Of Securities Available For Sale and Held to Maturity) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | $ 0 | $ 486 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (7) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 915 | 974 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (18) | (51) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 915 | 1,460 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (18) | (58) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 1,287 | 4,791 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (6) | (62) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 7,690 | 14,239 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (88) | (505) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 8,977 | 19,030 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (94) | (567) |
US Treasury Securities [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 261 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (4) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 261 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (4) | |
Residential Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 782 | 842 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (13) | (42) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 782 | 842 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (13) | (42) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 1,287 | 2,830 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (6) | (37) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 7,099 | 11,010 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (84) | (429) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 8,386 | 13,840 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (90) | (466) |
Commercial Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | 486 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (7) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 133 | 132 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (5) | (9) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 133 | 618 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (5) | (16) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | 1,073 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (13) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 498 | 2,254 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (3) | (51) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 498 | 3,327 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3) | (64) |
Commercial Non-Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 229 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 404 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (9) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 633 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (10) | |
All Other Securities [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | 659 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (11) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 93 | 310 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | (12) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 93 | 969 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (1) | $ (23) |
Securities (Schedule Of Gross Realized Gains And Gross Realized Losses On Available For Sale Securities) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Investments, Debt and Equity Securities [Abstract] | ||||
Gross realized gains | $ 7 | $ 3 | $ 7 | $ 3 |
Gross realized losses | (26) | 0 | (32) | 0 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | (2) | (1) | (2) |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ (19) | $ 1 | $ (26) | $ 1 |
Securities (Narrative) (Details) $ in Millions |
Jun. 30, 2019
USD ($)
security
|
Dec. 31, 2018
USD ($)
security
|
---|---|---|
Debt Securities, Available-for-sale [Line Items] | ||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 8,300 | $ 7,900 |
Number of individual positions in unrealized loss position | security | 668 | 1,379 |
US Treasury Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 24 | $ 24 |
Loans and the Allowance for Credit Losses (Schedule Of Loan Portfolio, Net Of Unearned Income) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2018 |
---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | $ 83,553 | $ 83,152 | $ 80,478 |
Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 40,438 | 39,282 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 5,455 | 5,549 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 415 | 384 | |
Commercial Investor Real Estate Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 4,795 | 4,650 | |
Commercial Investor Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 1,658 | 1,786 | |
Residential First Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 14,253 | 14,276 | |
Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 8,802 | 9,257 | |
Indirect-vehicles [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 2,415 | 3,053 | |
Indirect-other consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 2,796 | 2,349 | |
Consumer Credit Card Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 1,303 | 1,345 | |
Other consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 1,223 | 1,221 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 46,308 | 45,215 | 43,389 |
Total Investor Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 6,453 | 6,436 | 5,761 |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | $ 30,792 | $ 31,501 | $ 31,328 |
Loans and the Allowance for Credit Losses (Analysis of the Allowance for Credit Losses by Portfolio Segment) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
|
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan losses, beginning of period | $ 853 | $ 840 | $ 840 | $ 934 | |
Provision (credit) for loan and lease losses | 92 | 60 | 183 | 50 | |
Loan losses: | |||||
Charge-offs | (113) | (95) | (215) | (207) | |
Recoveries | 21 | 33 | 45 | 61 | |
Net loan losses | (92) | (62) | (170) | (146) | |
Total allowance for loan losses | 853 | 838 | 853 | 838 | |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||
Reserve For Unfunded Credit Commitments, beginning of period | 50 | 49 | 51 | 53 | |
Provision (credit) for unfunded credit losses | 0 | (1) | (1) | (5) | |
Reserve For Unfunded Credit Commitments, end of period | 50 | 48 | 50 | 48 | |
Allowance for Credit Losses, end of period | 903 | 886 | 903 | 886 | |
Portion of ending allowance for loan losses: | |||||
Allowance Individually Evaluated for Impairment | 157 | 188 | 157 | 188 | |
Allowance Collectively Evaluated for Impairment | 696 | 650 | 696 | 650 | |
Total allowance for loan losses | 853 | 838 | 853 | 838 | |
Portion of loan portfolio ending balance: | |||||
Loans Individually Evaluated for Impairment | 954 | 1,136 | 954 | 1,136 | |
Loans Collectively Evaluated for Impairment | 82,599 | 79,342 | 82,599 | 79,342 | |
Loans, net of unearned income | 83,553 | 80,478 | 83,553 | 80,478 | $ 83,152 |
Commercial Portfolio Segment [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan losses, beginning of period | 537 | 547 | 520 | 591 | |
Provision (credit) for loan and lease losses | 26 | 24 | 64 | 0 | |
Loan losses: | |||||
Charge-offs | (44) | (34) | (74) | (64) | |
Recoveries | 6 | 14 | 15 | 24 | |
Net loan losses | (38) | (20) | (59) | (40) | |
Total allowance for loan losses | 525 | 551 | 525 | 551 | |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||
Reserve For Unfunded Credit Commitments, beginning of period | 46 | 45 | 47 | 49 | |
Provision (credit) for unfunded credit losses | 0 | (1) | (1) | (5) | |
Reserve For Unfunded Credit Commitments, end of period | 46 | 44 | 46 | 44 | |
Allowance for Credit Losses, end of period | 571 | 595 | 571 | 595 | |
Portion of ending allowance for loan losses: | |||||
Allowance Individually Evaluated for Impairment | 125 | 156 | 125 | 156 | |
Allowance Collectively Evaluated for Impairment | 400 | 395 | 400 | 395 | |
Total allowance for loan losses | 525 | 551 | 525 | 551 | |
Portion of loan portfolio ending balance: | |||||
Loans Individually Evaluated for Impairment | 532 | 643 | 532 | 643 | |
Loans Collectively Evaluated for Impairment | 45,776 | 42,746 | 45,776 | 42,746 | |
Loans, net of unearned income | 46,308 | 43,389 | 46,308 | 43,389 | 45,215 |
Total Investor Real Estate [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan losses, beginning of period | 54 | 54 | 58 | 64 | |
Provision (credit) for loan and lease losses | (1) | (8) | (6) | (12) | |
Loan losses: | |||||
Charge-offs | 0 | 0 | 0 | (8) | |
Recoveries | 1 | 2 | 2 | 4 | |
Net loan losses | 1 | 2 | 2 | (4) | |
Total allowance for loan losses | 54 | 48 | 54 | 48 | |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||
Reserve For Unfunded Credit Commitments, beginning of period | 4 | 4 | 4 | 4 | |
Provision (credit) for unfunded credit losses | 0 | 0 | 0 | 0 | |
Reserve For Unfunded Credit Commitments, end of period | 4 | 4 | 4 | 4 | |
Allowance for Credit Losses, end of period | 58 | 52 | 58 | 52 | |
Portion of ending allowance for loan losses: | |||||
Allowance Individually Evaluated for Impairment | 2 | 5 | 2 | 5 | |
Allowance Collectively Evaluated for Impairment | 52 | 43 | 52 | 43 | |
Total allowance for loan losses | 54 | 48 | 54 | 48 | |
Portion of loan portfolio ending balance: | |||||
Loans Individually Evaluated for Impairment | 22 | 43 | 22 | 43 | |
Loans Collectively Evaluated for Impairment | 6,431 | 5,718 | 6,431 | 5,718 | |
Loans, net of unearned income | 6,453 | 5,761 | 6,453 | 5,761 | 6,436 |
Consumer Portfolio Segment [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan losses, beginning of period | 262 | 239 | 262 | 279 | |
Provision (credit) for loan and lease losses | 67 | 44 | 125 | 62 | |
Loan losses: | |||||
Charge-offs | (69) | (61) | (141) | (135) | |
Recoveries | 14 | 17 | 28 | 33 | |
Net loan losses | (55) | (44) | (113) | (102) | |
Total allowance for loan losses | 274 | 239 | 274 | 239 | |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||
Reserve For Unfunded Credit Commitments, beginning of period | 0 | 0 | 0 | 0 | |
Provision (credit) for unfunded credit losses | 0 | 0 | 0 | 0 | |
Reserve For Unfunded Credit Commitments, end of period | 0 | 0 | 0 | 0 | |
Allowance for Credit Losses, end of period | 274 | 239 | 274 | 239 | |
Portion of ending allowance for loan losses: | |||||
Allowance Individually Evaluated for Impairment | 30 | 27 | 30 | 27 | |
Allowance Collectively Evaluated for Impairment | 244 | 212 | 244 | 212 | |
Total allowance for loan losses | 274 | 239 | 274 | 239 | |
Portion of loan portfolio ending balance: | |||||
Loans Individually Evaluated for Impairment | 400 | 450 | 400 | 450 | |
Loans Collectively Evaluated for Impairment | 30,392 | 30,878 | 30,392 | 30,878 | |
Loans, net of unearned income | $ 30,792 | $ 31,328 | $ 30,792 | $ 31,328 | $ 31,501 |
Loans and the Allowance for Credit Losses (Credit Quality Indicators) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2018 |
---|---|---|---|
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | $ 83,553 | $ 83,152 | $ 80,478 |
Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 40,438 | 39,282 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 5,455 | 5,549 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 415 | 384 | |
Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 4,795 | 4,650 | |
Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 1,658 | 1,786 | |
Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 14,253 | 14,276 | |
Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 8,802 | 9,257 | |
Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 2,415 | 3,053 | |
Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 2,796 | 2,349 | |
Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 1,303 | 1,345 | |
Other consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 1,223 | 1,221 | |
Pass [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 38,949 | 37,963 | |
Pass [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 5,133 | 5,193 | |
Pass [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 383 | 356 | |
Pass [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 4,574 | 4,444 | |
Pass [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 1,598 | 1,773 | |
Special Mention [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 766 | 666 | |
Special Mention [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 176 | 208 | |
Special Mention [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 11 | 7 | |
Special Mention [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 172 | 52 | |
Special Mention [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 33 | 6 | |
Substandard [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 376 | 346 | |
Substandard [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 78 | 81 | |
Substandard [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 6 | 13 | |
Substandard [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 41 | 143 | |
Substandard [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 27 | 7 | |
Accrual [Member] | Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 14,219 | 14,236 | |
Accrual [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 8,741 | 9,194 | |
Accrual [Member] | Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 2,415 | 3,053 | |
Accrual [Member] | Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 2,796 | 2,349 | |
Accrual [Member] | Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 1,303 | 1,345 | |
Accrual [Member] | Other consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 1,223 | 1,221 | |
Non Accrual [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 347 | 307 | |
Non Accrual [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 68 | 67 | |
Non Accrual [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 15 | 8 | |
Non Accrual [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 8 | 11 | |
Non Accrual [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Non Accrual [Member] | Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 34 | 40 | |
Non Accrual [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 61 | 63 | |
Non Accrual [Member] | Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Non Accrual [Member] | Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Non Accrual [Member] | Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Non Accrual [Member] | Other consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 46,308 | 45,215 | 43,389 |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 44,465 | 43,512 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 953 | 881 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 460 | 440 | |
Commercial Portfolio Segment [Member] | Non Accrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 430 | 382 | |
Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 6,453 | 6,436 | 5,761 |
Total Investor Real Estate [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 6,172 | 6,217 | |
Total Investor Real Estate [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 205 | 58 | |
Total Investor Real Estate [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 68 | 150 | |
Total Investor Real Estate [Member] | Non Accrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 8 | 11 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 30,792 | 31,501 | $ 31,328 |
Consumer Portfolio Segment [Member] | Accrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 30,697 | 31,398 | |
Consumer Portfolio Segment [Member] | Non Accrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | $ 95 | $ 103 |
Loans and the Allowance for Credit Losses (Schedule of Aging Analysis Of Days Past Due (DPD) For Each Portfolio Class) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2018 |
---|---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | $ 210 | $ 227 | |
Total 30 plus DPD, Accrual Loans | 614 | 677 | |
Total Accrual | 83,020 | 82,656 | |
Nonaccrual | 533 | 496 | |
Loans, net of unearned income | 83,553 | 83,152 | $ 80,478 |
Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 11 | 8 | |
Total 30 plus DPD, Accrual Loans | 85 | 110 | |
Total Accrual | 40,091 | 38,975 | |
Nonaccrual | 347 | 307 | |
Loans, net of unearned income | 40,438 | 39,282 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total 30 plus DPD, Accrual Loans | 33 | 19 | |
Total Accrual | 5,387 | 5,482 | |
Nonaccrual | 68 | 67 | |
Loans, net of unearned income | 5,455 | 5,549 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total 30 plus DPD, Accrual Loans | 2 | 0 | |
Total Accrual | 400 | 376 | |
Nonaccrual | 15 | 8 | |
Loans, net of unearned income | 415 | 384 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 11 | 8 | |
Total 30 plus DPD, Accrual Loans | 120 | 129 | |
Total Accrual | 45,878 | 44,833 | |
Nonaccrual | 430 | 382 | |
Loans, net of unearned income | 46,308 | 45,215 | |
Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total 30 plus DPD, Accrual Loans | 1 | 6 | |
Total Accrual | 4,787 | 4,639 | |
Nonaccrual | 8 | 11 | |
Loans, net of unearned income | 4,795 | 4,650 | |
Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total 30 plus DPD, Accrual Loans | 0 | 0 | |
Total Accrual | 1,658 | 1,786 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 1,658 | 1,786 | |
Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total 30 plus DPD, Accrual Loans | 1 | 6 | |
Total Accrual | 6,445 | 6,425 | |
Nonaccrual | 8 | 11 | |
Loans, net of unearned income | 6,453 | 6,436 | |
Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 127 | 150 | |
Total 30 plus DPD, Accrual Loans | 250 | 288 | |
Total Accrual | 14,219 | 14,236 | |
Nonaccrual | 34 | 40 | |
Loans, net of unearned income | 14,253 | 14,276 | |
Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 40 | 34 | |
Total 30 plus DPD, Accrual Loans | 111 | 107 | |
Total Accrual | 8,741 | 9,194 | |
Nonaccrual | 61 | 63 | |
Loans, net of unearned income | 8,802 | 9,257 | |
Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 6 | 9 | |
Total 30 plus DPD, Accrual Loans | 48 | 60 | |
Total Accrual | 2,415 | 3,053 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 2,415 | 3,053 | |
Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 2 | 1 | |
Total 30 plus DPD, Accrual Loans | 22 | 21 | |
Total Accrual | 2,796 | 2,349 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 2,796 | 2,349 | |
Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 20 | 20 | |
Total 30 plus DPD, Accrual Loans | 37 | 41 | |
Total Accrual | 1,303 | 1,345 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 1,303 | 1,345 | |
Other consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 4 | 5 | |
Total 30 plus DPD, Accrual Loans | 25 | 25 | |
Total Accrual | 1,223 | 1,221 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 1,223 | 1,221 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 199 | 219 | |
Total 30 plus DPD, Accrual Loans | 493 | 542 | |
Total Accrual | 30,697 | 31,398 | |
Nonaccrual | 95 | 103 | |
Loans, net of unearned income | 30,792 | 31,501 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 118 | 140 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 18 | 22 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 3 | 7 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 21 | 29 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 44 | 53 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 23 | 26 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 10 | 11 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 8 | 7 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 7 | 9 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Other consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 5 | 5 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 97 | 111 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 286 | 310 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 56 | 80 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 30 | 12 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 2 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 88 | 92 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 1 | 6 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 0 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 1 | 6 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 79 | 85 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 48 | 47 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 32 | 40 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 12 | 13 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 10 | 12 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Other consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | 16 | 15 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total 30 plus DPD, Accrual Loans | $ 197 | $ 212 |
Loans and the Allowance for Credit Losses (Impaired Financing Receivables) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 1,088 | $ 1,088 | $ 1,043 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 134 | 134 | 109 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 954 | 954 | 934 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 94 | 94 | 130 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 860 | 860 | 804 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 157 | $ 157 | $ 132 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 26.70% | 26.70% | 23.10% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 954 | $ 1,196 | $ 953 | $ 1,278 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 6 | 11 | 12 | 23 | ||||||||||
Commercial And Industrial [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 538 | 538 | $ 468 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 107 | 107 | 77 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 431 | 431 | 391 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 89 | 89 | 113 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 342 | 342 | 278 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 96 | $ 96 | $ 76 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 37.70% | 37.70% | 32.70% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 430 | 518 | $ 420 | 526 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 1 | 2 | 2 | 5 | ||||||||||
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 94 | 94 | $ 102 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 8 | 8 | 11 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 86 | 86 | 91 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 5 | 5 | 13 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 81 | 81 | 78 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 24 | $ 24 | $ 25 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 34.00% | 34.00% | 35.30% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 82 | 138 | $ 88 | 152 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 2 | 1 | 5 | ||||||||||
Commercial Real Estate Construction - Owner-Occupied [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 16 | 16 | $ 9 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 1 | 1 | 1 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 15 | 15 | 8 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 15 | 15 | 8 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 5 | $ 5 | $ 3 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 37.50% | 37.50% | 44.40% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 15 | 5 | $ 14 | 6 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 0 | 0 | 0 | ||||||||||
Commercial Portfolio Segment [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 648 | 648 | $ 579 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 116 | 116 | 89 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 532 | 532 | 490 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 94 | 94 | 126 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 438 | 438 | 364 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 125 | $ 125 | $ 104 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 37.20% | 37.20% | 33.30% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 527 | 661 | $ 522 | 684 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 1 | 4 | 3 | 10 | ||||||||||
Commercial Investor Real Estate Mortgage [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 22 | 22 | $ 26 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 2 | 2 | 1 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 20 | 20 | 25 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 4 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 20 | 20 | 21 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 2 | $ 2 | $ 2 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 18.20% | 18.20% | 11.50% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 20 | 75 | $ 21 | 75 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 1 | 1 | 1 | 2 | ||||||||||
Commercial Investor Real Estate Construction [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 2 | 2 | |||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | |||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 2 | 2 | |||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | |||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 2 | 2 | |||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | ||||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | |||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 2 | 0 | $ 1 | 15 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 0 | 0 | 0 | ||||||||||
Total Investor Real Estate [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 24 | 24 | $ 26 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 2 | 2 | 1 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 22 | 22 | 25 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 4 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 22 | 22 | 21 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 2 | $ 2 | $ 2 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 16.70% | 16.70% | 11.50% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 22 | 75 | $ 22 | 90 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 1 | 1 | 1 | 2 | ||||||||||
Residential First Mortgage [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 227 | 227 | $ 225 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 15 | 15 | 17 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 212 | 212 | 208 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 212 | 212 | 208 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 21 | $ 21 | $ 20 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 15.90% | 15.90% | 16.40% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 213 | 214 | $ 211 | 251 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 2 | 2 | 3 | 4 | ||||||||||
Home Equity [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 183 | 183 | $ 206 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 1 | 1 | 2 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 182 | 182 | 204 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 182 | 182 | 204 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 9 | $ 9 | $ 6 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 5.50% | 5.50% | 3.90% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 186 | 238 | $ 192 | 245 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 2 | 4 | 5 | 7 | ||||||||||
Consumer Credit Card Financing Receivable [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 1 | 1 | $ 1 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 1 | 1 | 1 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 1 | 1 | 1 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 1 | 1 | $ 1 | 1 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 0 | 0 | 0 | ||||||||||
Other consumer | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 5 | 5 | $ 6 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 5 | 5 | 6 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 5 | 5 | 6 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 5 | 7 | $ 5 | 7 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 0 | 0 | 0 | ||||||||||
Consumer Portfolio Segment [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 416 | 416 | $ 438 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 16 | 16 | 19 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 400 | 400 | 419 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 400 | 400 | 419 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 30 | $ 30 | $ 26 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 11.10% | 11.10% | 10.30% | ||||||||||
Impaired Financing Receivable, Average Recorded Investment | $ 405 | 460 | $ 409 | 504 | ||||||||||
Impaired Financing Receivable, Interest Income Recognized | 4 | $ 6 | 8 | $ 11 | ||||||||||
Non Accrual [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 585 | 585 | $ 522 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 119 | 119 | 97 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 466 | 466 | 425 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 94 | 94 | 130 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 372 | 372 | 295 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 116 | $ 116 | $ 91 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 40.20% | 40.20% | 36.00% | ||||||||||
Non Accrual [Member] | Commercial And Industrial [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 452 | $ 452 | $ 384 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 105 | 105 | 77 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 347 | 347 | 307 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 89 | 89 | 113 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 258 | 258 | 194 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 84 | $ 84 | $ 62 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 41.80% | 41.80% | 36.20% | ||||||||||
Non Accrual [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 74 | $ 74 | $ 76 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 6 | 6 | 9 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 68 | 68 | 67 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 5 | 5 | 13 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 63 | 63 | 54 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 23 | $ 23 | $ 23 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 39.20% | 39.20% | 42.10% | ||||||||||
Non Accrual [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 16 | $ 16 | $ 9 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 1 | 1 | 1 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 15 | 15 | 8 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 15 | 15 | 8 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 5 | $ 5 | $ 3 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 37.50% | 37.50% | 44.40% | ||||||||||
Non Accrual [Member] | Commercial Portfolio Segment [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 542 | $ 542 | $ 469 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 112 | 112 | 87 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 430 | 430 | 382 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 94 | 94 | 126 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 336 | 336 | 256 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 112 | $ 112 | $ 88 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 41.30% | 41.30% | 37.30% | ||||||||||
Non Accrual [Member] | Commercial Investor Real Estate Mortgage [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 8 | $ 8 | $ 11 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 8 | 8 | 11 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 4 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 8 | 8 | 7 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 2 | $ 2 | $ 1 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 25.00% | 25.00% | 9.10% | ||||||||||
Non Accrual [Member] | Total Investor Real Estate [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 8 | $ 8 | $ 11 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 8 | 8 | 11 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 4 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 8 | 8 | 7 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 2 | $ 2 | $ 1 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 25.00% | 25.00% | 9.10% | ||||||||||
Non Accrual [Member] | Residential First Mortgage [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 25 | $ 25 | $ 31 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 6 | 6 | 8 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 19 | 19 | 23 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 19 | 19 | 23 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 2 | $ 2 | $ 2 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 32.00% | 32.00% | 32.30% | ||||||||||
Non Accrual [Member] | Home Equity [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 10 | $ 10 | $ 11 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 1 | 1 | 2 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 9 | 9 | 9 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 9 | 9 | 9 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 10.00% | 10.00% | 18.20% | ||||||||||
Non Accrual [Member] | Consumer Portfolio Segment [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 35 | $ 35 | $ 42 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 7 | 7 | 10 | ||||||||||
Impaired Financing Receivable, Recorded Investment | [3] | 28 | 28 | 32 | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 28 | 28 | 32 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 2 | $ 2 | $ 2 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 25.70% | 25.70% | 28.60% | ||||||||||
Accrual [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 503 | $ 503 | $ 521 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 15 | 15 | 12 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 488 | 488 | 509 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 41 | $ 41 | $ 41 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 11.10% | 11.10% | 10.20% | ||||||||||
Accrual [Member] | Commercial And Industrial [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 86 | $ 86 | $ 84 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 2 | 2 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 84 | 84 | 84 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 12 | $ 12 | $ 14 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 16.30% | 16.30% | 16.70% | ||||||||||
Accrual [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 20 | $ 20 | $ 26 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 2 | 2 | 2 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 18 | 18 | 24 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 1 | $ 1 | $ 2 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 15.00% | 15.00% | 15.40% | ||||||||||
Accrual [Member] | Commercial Portfolio Segment [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 106 | $ 106 | $ 110 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 4 | 4 | 2 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 102 | 102 | 108 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 13 | $ 13 | $ 16 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 16.00% | 16.00% | 16.40% | ||||||||||
Accrual [Member] | Commercial Investor Real Estate Mortgage [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 14 | $ 14 | $ 15 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 2 | 2 | 1 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 12 | 12 | 14 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 1 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 14.30% | 14.30% | 13.30% | ||||||||||
Accrual [Member] | Commercial Investor Real Estate Construction [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 2 | $ 2 | |||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | |||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 2 | 2 | |||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | ||||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | |||||||||||
Accrual [Member] | Total Investor Real Estate [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 16 | $ 16 | $ 15 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 2 | 2 | 1 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 14 | 14 | 14 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 1 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 12.50% | 12.50% | 13.30% | ||||||||||
Accrual [Member] | Residential First Mortgage [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 202 | $ 202 | $ 194 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 9 | 9 | 9 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 193 | 193 | 185 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 19 | $ 19 | $ 18 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 13.90% | 13.90% | 13.90% | ||||||||||
Accrual [Member] | Home Equity [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 173 | $ 173 | $ 195 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 173 | 173 | 195 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 9 | $ 9 | $ 6 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 5.20% | 5.20% | 3.10% | ||||||||||
Accrual [Member] | Consumer Credit Card Financing Receivable [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 1 | $ 1 | $ 1 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 1 | 1 | 1 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | ||||||||||
Accrual [Member] | Other consumer | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 5 | $ 5 | $ 6 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 5 | 5 | 6 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | ||||||||||
Accrual [Member] | Consumer Portfolio Segment [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 381 | $ 381 | $ 396 | ||||||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 9 | 9 | 9 | ||||||||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 372 | 372 | 387 | ||||||||||
Impaired Financing Receivable, Related Allowance | $ 28 | $ 28 | $ 24 | |||||||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 9.70% | 9.70% | 8.30% | ||||||||||
|
Loans and the Allowance for Credit Losses (Loans By Class Modified In TDR) (Details) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019
USD ($)
obligor
|
Jun. 30, 2018
USD ($)
obligor
|
Jun. 30, 2019
USD ($)
obligor
|
Jun. 30, 2018
USD ($)
obligor
|
|
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 133 | 157 | 298 | 311 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 52 | $ 98 | $ 168 | $ 304 |
Increase in Allowance at Modification | $ 1 | $ 3 | $ 3 | $ 7 |
Commercial And Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 23 | 26 | 49 | 55 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 32 | $ 50 | $ 110 | $ 214 |
Increase in Allowance at Modification | $ 0 | $ 1 | $ 1 | $ 3 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 16 | 20 | 33 | 38 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 8 | $ 10 | $ 20 | $ 24 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Construction - Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 1 | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2 | |||
Increase in Allowance at Modification | $ 0 | |||
Commercial investor real estate mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 1 | 5 | 4 | 15 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 30 | $ 11 | $ 49 |
Increase in Allowance at Modification | $ 0 | $ 1 | $ 0 | $ 2 |
Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 2 | 4 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1 | $ 1 | ||
Increase in Allowance at Modification | $ 0 | $ 0 | ||
Residential First Mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 34 | 45 | 68 | 98 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 8 | $ 6 | $ 18 | $ 14 |
Increase in Allowance at Modification | $ 1 | $ 1 | $ 2 | $ 2 |
Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 30 | 30 | 64 | 47 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2 | $ 2 | $ 5 | $ 3 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Credit Card Financing Receivable [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 8 | 11 | 26 | 25 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Indirect-vehicles and other consumer [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 19 | 20 | 49 | 33 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1 | $ 0 | $ 1 | $ 0 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 39 | 46 | 83 | 93 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 40 | $ 60 | $ 132 | $ 238 |
Increase in Allowance at Modification | $ 0 | $ 1 | $ 1 | $ 3 |
Total Investor Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 3 | 5 | 8 | 15 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1 | $ 30 | $ 12 | $ 49 |
Increase in Allowance at Modification | $ 0 | $ 1 | $ 0 | $ 2 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | obligor | 91 | 106 | 207 | 203 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 11 | $ 8 | $ 24 | $ 17 |
Increase in Allowance at Modification | $ 1 | $ 1 | $ 2 | $ 2 |
Loans and the Allowance for Credit Losses (Narrative) (Details) - USD ($) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amount of loans first reported as new TDRs | $ 121 | $ 219 |
Re-Defaulted Commercial And Investor Real Estate Loans Modified In Tdr During Period And On Non Accrual Status | 1 | |
Total Restructured Binding Unfunded Commitment | 6 | |
Federal Home Loan Bank [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Pledged loans | 21,700 | |
Federal Reserve Bank [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Pledged loans | 25,200 | |
Indirect-other consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Significant Purchases | $ 526 | $ 215 |
Residential First Mortgage [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing period for consumer loans, in years | 15 years | |
Residential First Mortgage [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing period for consumer loans, in years | 30 years |
Servicing of Financial Assets (Analysis Of Residential Mortgage Servicing Rights Under The Fair Value Measurement Method) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|||
Servicing Asset at Fair Value, Amount [Roll Forward] | ||||||
Carrying value, beginning of period | $ 386 | $ 356 | $ 418 | $ 336 | ||
Additions | 8 | 9 | 15 | 17 | ||
Increase (decrease) in fair value, due to change in valuation inputs or assumptions | (43) | 10 | (71) | 32 | ||
Increase (decrease) in fair value, economic amortization associated with borrower repayments | [1] | (14) | (13) | (25) | (23) | |
Carrying value, end of period | $ 337 | $ 362 | $ 337 | $ 362 | ||
|
Servicing of Financial Assets (Data And Assumptions Used In The Fair Value Calculation As Well As The Valuation's Sensitivity To Rate Fluctuations Related To Residential Mortgage Servicing Rights) (Details) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2019
USD ($)
basis_point
|
Jun. 30, 2018
USD ($)
basis_point
|
|
Servicing Assets at Fair Value [Line Items] | ||
Unpaid principal balance | $ 35,309 | $ 31,140 |
Weighted-average prepayment speed (CPR; percentage) | 12.50% | 8.60% |
Estimated impact on fair value of a 10% increase in prepayment speed | $ (19) | $ (22) |
Estimated impact on fair value of a 20% increase in prepayment speed | $ (35) | $ (41) |
Option-adjusted spread (basis points) | basis_point | 763 | 825 |
Estimated impact on fair value of a 10% increase in other assumptions | $ (10) | $ (12) |
Estimated impact on fair value of a 20% increase in other assumptions | $ (20) | $ (24) |
Weighted-average coupon interest rate | 4.20% | 4.20% |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Weighted Average Life | 279 months | 280 months |
Weighted Average Servicing Fee Basis Points | basis_point | 27.2 | 27.5 |
Servicing of Financial Assets (Schedule Of Fees Resulting From The Servicing Of Mortgage Loans) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Residential Mortgage [Member] | ||||
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items] | ||||
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset | $ 26 | $ 23 | $ 52 | $ 46 |
Servicing of Financial Assets (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2019 |
Jun. 30, 2019 |
Mar. 27, 2019 |
Dec. 31, 2018 |
Jun. 30, 2018 |
|
Servicing Assets at Fair Value [Line Items] | |||||
Unpaid principal balance | $ 35,309 | $ 31,140 | |||
Residential Mortgage [Member] | |||||
Servicing Assets at Fair Value [Line Items] | |||||
Servicing Asset | $ 2 | ||||
DUS Portfolio [Member] | |||||
Servicing Assets at Fair Value [Line Items] | |||||
Unpaid principal balance | 3,600 | $ 3,600 | |||
Commercial Real Estate [Member] | |||||
Servicing Assets at Fair Value [Line Items] | |||||
Servicing Asset at Amortized Cost | 55 | 56 | |||
Loss Share Guarantee | $ 5 | $ 4 | |||
Residential First Mortgage [Member] | |||||
Servicing Assets at Fair Value [Line Items] | |||||
Financing Receivable, Significant Sales | $ 167 |
Leases (Narrative) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Jan. 01, 2019 |
---|---|---|
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Right-of-Use Asset | $ 430 | $ 451 |
Operating Lease, Liability | $ 505 | $ 451 |
Minimum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 1 year | |
Maximum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 20 years |
Leases (Lessee: Information related to Operating Leases) (Details) $ in Millions |
3 Months Ended | 6 Months Ended |
---|---|---|
Jun. 30, 2019
USD ($)
|
Jun. 30, 2019
USD ($)
|
|
Leases [Abstract] | ||
Operating Lease, Cost | $ 20 | $ 41 |
Operating Lease, Weighted Average Remaining Lease Term | 9 years 2 months 12 days | 9 years 2 months 12 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.30% | 3.30% |
Leases (Lessee: Schedule of Future, Undiscounted Minimum Lease Payments on Operating Leases) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Jan. 01, 2019 |
---|---|---|
Leases [Abstract] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 46 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 91 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 82 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 73 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 65 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 256 | |
Lessee, Operating Lease, Liability, Payments, Due | 613 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 108 | |
Operating Lease, Liability | $ 505 | $ 451 |
Leases (Lessor: Summary of Sales-Type, Direct Financing, Operating and Leveraged Leases) (Details) $ in Millions |
3 Months Ended | 6 Months Ended |
---|---|---|
Jun. 30, 2019
USD ($)
|
Jun. 30, 2019
USD ($)
|
|
Net Interest Income and Other Financing Income | ||
Sales-Type and Direct Financing | $ 8 | $ 16 |
Operating Lease, Lease Income | 3 | 6 |
Leveraged Leases, Income Loss | 4 | 7 |
Lease Income | 15 | 29 |
Sales-Type and Direct Financing [Abstract] | ||
Sales-type and direct financing lease receivable | 1,058 | 1,058 |
Sales-type and direct financing, unearned income. | (230) | (230) |
Sales type and direct financing lease Guaranteed residual | 42 | 42 |
Sales Type and Direct Financing Unguaranteed residual | 142 | 142 |
Total net investment | 1,012 | 1,012 |
Operating [Abstract] | ||
Operating | 136 | 136 |
Unearned Income | (34) | (34) |
Guaranteed residual | 0 | 0 |
Unguaranteed residual | 225 | 225 |
Total net investment | 327 | 327 |
Leveraged | ||
Lease Receivable | 185 | 185 |
Unearned Income | (121) | (121) |
Guaranteed residual | 0 | 0 |
Unguaranteed residual | 157 | 157 |
Total net investment | 221 | 221 |
Total | ||
Lease Receivable | 1,379 | 1,379 |
Unearned Income | (385) | (385) |
Guaranteed residual | 42 | 42 |
Unguaranteed residual | 524 | 524 |
Total net investment | $ 1,560 | $ 1,560 |
Leases (Lessor: Schedule of Minimum Future Payments Due From Customers for Sales-Type, Direct Financing, and Operating Leases) (Details) $ in Millions |
Jun. 30, 2019
USD ($)
|
---|---|
Leases [Abstract] | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Remainder of Fiscal Year | $ 101 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Two Years | 159 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Three Years | 126 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Four Years | 105 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Five Years | 86 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Thereafter | 481 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | 1,058 |
Lessor, Operating Lease, Payments to be Received, Remainder of Fiscal Year | 25 |
Lessor, Operating Lease, Payments to be Received, Two Years | 42 |
Lessor, Operating Lease, Payments to be Received, Three Years | 30 |
Lessor, Operating Lease, Payments to be Received, Four Years | 17 |
Lessor, Operating Lease, Payments to be Received, Five Years | 8 |
Lessor, Operating Lease, Payments to be Received, Thereafter | 14 |
Lessor, Operating Lease, Payments to be Received | 136 |
Lessor, Sales-type, Direct Financing and Operating Leases, Payments to be Received, Remainder of Fiscal Year | 126 |
Lessor, Sales-type, Direct Financing and Operating Leases, Payments to be Received, Two Years | 201 |
Lessor, Sales-type, Direct Financing and Operating Leases, Payments to be Received, Three Years | 156 |
Lessor, Sales-type, Direct Financing and Operating Leases, Payments to be Received, Four Years | 122 |
Lessor, Sales-type, Direct Financing and Operating Leases, Payments to be Received, Five Years | 94 |
Lessor, Sales-type, Direct Financing and Operating Leases, Payments to be Received, Thereafter | 495 |
Lessor, Sales-type, Direct Financing and Operating Leases, Payments to be Received | $ 1,194 |
Preferred Stock Issuances (Details) - USD ($) $ in Millions |
6 Months Ended | 120 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Aug. 15, 2029 |
Jun. 30, 2019 |
Sep. 15, 2024 |
Dec. 31, 2018 |
||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Liquidation Preference, Value | $ 1,500 | ||||||||
Preferred Stock, Carrying Amount | $ 1,310 | $ 820 | |||||||
Series A Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Dividend Rate, Percentage | 6.375% | ||||||||
Preferred Stock, Liquidation Preference, Value | $ 500 | ||||||||
Preferred Stock, Carrying Amount | $ 387 | 387 | |||||||
Series B Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Dividend Rate, Percentage | [1] | 6.375% | |||||||
Preferred Stock, Liquidation Preference, Value | $ 500 | ||||||||
Preferred Stock, Carrying Amount | $ 433 | 433 | |||||||
Series C Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Dividend Rate, Percentage | [2] | 5.70% | |||||||
Preferred Stock, Liquidation Preference, Value | $ 500 | ||||||||
Preferred Stock, Carrying Amount | $ 490 | $ 0 | |||||||
Forecast [Member] | Series B Preferred Stock Dividend Scenario 1 [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Dividend Rate, Percentage | 6.375% | ||||||||
Forecast [Member] | Series C Preferred Stock Dividend Scenario 1 [Member] [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Dividend Rate, Percentage | 5.70% | ||||||||
Plus 3-Month LIBOR [Member] | Forecast [Member] | Series B Preferred Stock Dividend Scenario 2 [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Dividend Rate, Basis Spread on Variable Rate, Percentage | 3.536% | ||||||||
Plus 3-Month LIBOR [Member] | Forecast [Member] | Series C Preferred Stock Dividend Scenario 2 [Member] [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Dividend Rate, Basis Spread on Variable Rate, Percentage | 3.148% | ||||||||
|
Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2019 |
Mar. 31, 2019 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | $ (598) | $ (964) | $ (1,151) | $ (749) | $ (964) | $ (749) |
Other comprehensive income (loss), net of tax | 577 | 366 | (104) | (402) | 943 | (506) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (21) | (598) | (1,255) | (1,151) | (21) | (1,255) |
Accumulated Net Unrealized Loss on Held To Maturity Securities [Member] | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (26) | (27) | (31) | (33) | (27) | (33) |
Other comprehensive income (loss), net of tax | 2 | 1 | 3 | 3 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (24) | (26) | (30) | (31) | (24) | (30) |
Accumulated Net Unrealized Securities Available For Sale Gain (Loss) [Member] | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (152) | (397) | (463) | (153) | (397) | (153) |
Other comprehensive income (loss), net of tax | 260 | (67) | 505 | (377) | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | 108 | (152) | (530) | (463) | 108 | (530) |
Accumulated Net Gain (Loss) from Derivative Instruments Designated as Cash Flow Hedges [Member] | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | 50 | (63) | (151) | (51) | (63) | (51) |
Other comprehensive income (loss), net of tax | 308 | (46) | 421 | (146) | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | 358 | 50 | (197) | (151) | 358 | (197) |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (470) | (477) | (506) | (512) | (477) | (512) |
Other comprehensive income (loss), net of tax | 7 | 8 | 14 | 14 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | $ (463) | $ (470) | $ (498) | $ (506) | $ (463) | $ (498) |
Reclassification from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Mar. 31, 2019 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Interest Income (Expense), Net | $ 942 | $ 926 | $ 1,890 | $ 1,835 | |||||||
Other Noninterest Expense | (228) | (235) | (452) | (460) | |||||||
Income tax (expense) benefit | (93) | (89) | (198) | (217) | |||||||
Net income | 390 | $ 394 | 375 | $ 414 | 784 | 789 | |||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net income | [1] | (31) | (4) | (50) | (5) | ||||||
Accumulated Net Unrealized Loss on Held To Maturity Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Interest Income (Expense), Net | [1] | (2) | (1) | (3) | (4) | ||||||
Income tax (expense) benefit | [1] | 0 | 0 | 0 | 1 | ||||||
Net income | [1] | (2) | (1) | (3) | (3) | ||||||
Accumulated Net Unrealized Securities Available For Sale Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Securities gains (losses), net | [1] | (19) | 1 | (26) | 1 | ||||||
Income tax (expense) benefit | [1] | 3 | 0 | 5 | 0 | ||||||
Net income | [1] | (16) | 1 | (21) | 1 | ||||||
Accumulated Net Gain (Loss) from Derivative Instruments Designated as Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Interest Income (Expense), Net | [1] | (8) | 5 | (16) | 16 | ||||||
Income tax (expense) benefit | [1] | 2 | (1) | 4 | (4) | ||||||
Net income | [1] | (6) | 4 | (12) | 12 | ||||||
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Other Noninterest Expense | [1],[2] | (10) | (10) | (19) | (19) | ||||||
Income tax (expense) benefit | [1] | 3 | 2 | 5 | 4 | ||||||
Net income | [1] | $ (7) | $ (8) | $ (14) | $ (15) | ||||||
|
Stockholders' Equity And Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 06, 2019 |
Jul. 24, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Sep. 15, 2024 |
Jun. 27, 2019 |
Jun. 28, 2018 |
Dec. 15, 2017 |
|
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
Dividends, Preferred Stock | $ 16.0 | $ 16.0 | $ 16.0 | $ 16.0 | ||||||||
Stock repurchase plan, authorized amount | $ 1,370.0 | $ 2,031.0 | ||||||||||
Stock Repurchased and Retired During Period, Shares | 115,380 | |||||||||||
Payments for Repurchase of Common Stock | $ 380.0 | $ 470.0 | ||||||||||
Cash dividend declared (in dollars per share) | $ 0.14 | $ 0.14 | $ 0.09 | $ 0.09 | $ 0.28 | $ 0.18 | ||||||
Subsequent Event [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
Stock Repurchased and Retired During Period, Shares | 9,300 | |||||||||||
Payments for Repurchase of Common Stock | $ 144.8 | |||||||||||
Cash dividend declared (in dollars per share) | $ 0.155 | |||||||||||
Preferred Stock [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
Preferred Stock, liquidation preference per share (in dollars per share) | 1,000.00 | 1,000.00 | ||||||||||
Preferred Stock [Member] | Depositary Shares [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
Preferred Stock, liquidation preference per share (in dollars per share) | $ 25.00 | $ 25.00 | ||||||||||
Series A Preferred Stock [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
Dividends, Preferred Stock | $ 16.0 | $ 16.0 | ||||||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 113.0 | |||||||||||
PreferredDividendsReductiontoRetainedEarningsatRedemption | 100.0 | |||||||||||
PreferredStockIssuanceCostsReductiontoNetIncome | $ 13.0 | |||||||||||
Series A Preferred Stock [Member] | Debt Instrument, Redemption, Period One [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
Preferred Stock, Redemption Terms | 90 days | |||||||||||
Series B Preferred Stock [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
Dividends, Preferred Stock | $ 16.0 | 16.0 | ||||||||||
Series B Preferred Stock [Member] | Forecast [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 67.0 | |||||||||||
PreferredDividendsReductiontoRetainedEarningsatRedemption | 52.0 | |||||||||||
PreferredStockIssuanceCostsReductiontoNetIncome | 15.0 | |||||||||||
Series C Preferred Stock [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
Dividends, Preferred Stock | $ 0.0 | |||||||||||
Series C Preferred Stock [Member] | Forecast [Member] | ||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | ||||||||||||
ExcessofRedemptionAmountOverCarryingAmount | 10.0 | |||||||||||
PreferredStockIssuanceCostsReductiontoNetIncome | $ 10.0 |
Earnings (Loss) Per Common Share (Computation Of Basic And Diluted Earnings (Loss) Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 02, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
||||||||
Numerator: | ||||||||||||
Income from continuing operations | $ 390 | $ 378 | $ 784 | $ 792 | ||||||||
Preferred stock dividends | (16) | (16) | (32) | (32) | ||||||||
Net income from continuing operations available to common shareholders | 374 | 362 | 752 | 760 | ||||||||
Income from discontinued operations, net of tax | 0 | (3) | 0 | (3) | ||||||||
Net income available to common shareholders | $ 374 | $ 359 | $ 752 | $ 757 | ||||||||
Denominator: | ||||||||||||
Weighted-average common shares outstanding—basic (in shares) | 1,010 | 1,119 | 1,015 | 1,123 | ||||||||
Potential common shares (in shares) | 2 | 9 | 5 | 12 | ||||||||
Weighted-average common shares outstanding—diluted (in shares) | 1,012 | 1,128 | 1,020 | 1,135 | ||||||||
Earnings per common share from continuing operations: | ||||||||||||
Basic (in dollars per share) | [1] | $ 0.37 | $ 0.32 | $ 0.74 | $ 0.68 | |||||||
Diluted (in dollars per share) | [1] | 0.37 | 0.32 | 0.74 | 0.67 | |||||||
Earning (Loss) Per Common Share From Discontinued Operations: | ||||||||||||
Basic (in dollars per share) | [1],[2],[3] | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
Diluted (in dollars per share) | [1],[2],[3] | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
Earnings per common share: | ||||||||||||
Basic (in dollars per share) | [1] | 0.37 | 0.32 | 0.74 | 0.67 | |||||||
Diluted (in dollars per share) | [1] | $ 0.37 | $ 0.32 | $ 0.74 | $ 0.67 | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 9 | 6 | 7 | 6 | ||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $ 196 | |||||||||||
|
Pension and Other Postretirement Benefits (Schedule of Net Periodic Pension Cost) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | $ 8 | $ 11 | $ 17 | $ 21 |
Interest Cost | 20 | 18 | 40 | 37 |
Expected Return on Plan Assets | (34) | (40) | (68) | (77) |
Amortization of Actuarial Loss | 10 | 10 | 19 | 19 |
Net Periodic Pension Cost (Credit) | 4 | (1) | 8 | 0 |
Pension Plan [Member] | Qualified Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | 7 | 10 | 15 | 19 |
Interest Cost | 18 | 17 | 37 | 35 |
Expected Return on Plan Assets | (34) | (40) | (68) | (77) |
Amortization of Actuarial Loss | 9 | 8 | 17 | 16 |
Net Periodic Pension Cost (Credit) | 0 | (5) | 1 | (7) |
Supplemental Employee Retirement Plan [Member] | Nonqualified Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | 1 | 1 | 2 | 2 |
Interest Cost | 2 | 1 | 3 | 2 |
Expected Return on Plan Assets | 0 | 0 | 0 | 0 |
Amortization of Actuarial Loss | 1 | 2 | 2 | 3 |
Net Periodic Pension Cost (Credit) | $ 4 | $ 4 | $ 7 | $ 7 |
Derivative Financial Instruments and Hedging Activities (Schedule of Derivative Instruments Notional and Fair Value) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||||||
---|---|---|---|---|---|---|---|---|---|
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | $ 132,121 | $ 87,394 | |||||||
Estimated Fair Value, Gain | [1] | 716 | 370 | ||||||
Estimated Fair Value, Loss | [1] | 240 | 340 | ||||||
Derivative Asset, Fair Value of Derivative Contracts Offset in Accordance with Policy Election that were Offset Under Master Netting Agreements | [1] | 103 | 108 | ||||||
Derivative Liability, Fair Value of Derivative Contracts Offset In Accordance with Policy Election that were Offset Under Master Netting Agreements | [1] | 103 | 108 | ||||||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | [1] | 255 | 135 | ||||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | [1] | 92 | 71 | ||||||
Derivative Assets | [1],[2] | 358 | 127 | ||||||
Derivative Liabilities | [1],[2] | 45 | 161 | ||||||
Derivative, Collateral, Right to Reclaim Securities | 24 | 24 | |||||||
Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | 23,182 | 15,231 | |||||||
Estimated Fair Value, Gain | [1] | 238 | 72 | ||||||
Not Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | 108,939 | 72,163 | |||||||
Estimated Fair Value, Gain | [1] | 478 | 298 | ||||||
Estimated Fair Value, Loss | [1] | 240 | 340 | ||||||
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | 55,828 | 49,737 | |||||||
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Gain | [1] | 404 | 193 | ||||||
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Loss | [1] | 157 | 237 | ||||||
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | 7,922 | 7,178 | |||||||
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Gain | [1] | 24 | 29 | ||||||
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Loss | [1] | 10 | 20 | ||||||
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | 36,696 | 7,961 | |||||||
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Gain | [1] | 10 | 4 | ||||||
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Loss | [1] | 19 | 9 | ||||||
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | 8,493 | 7,287 | |||||||
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Gain | [1] | 40 | 72 | ||||||
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Loss | [1] | 54 | 74 | ||||||
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | 3,682 | 3,231 | |||||||
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | 12,750 | 8,750 | |||||||
Cash Flow Hedging [Member] | Interest Rate Floor [Member] | Designated as Hedging Instrument [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Notional Amount | [3] | 6,750 | 3,250 | ||||||
Cash Flow Hedging [Member] | Interest Rate Floor [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | |||||||||
Derivatives, Fair Value [Line Items] | |||||||||
Estimated Fair Value, Gain | [1],[3] | $ 238 | $ 72 | ||||||
|
Derivative Financial Instruments And Hedging Activities (Schedule Of The Effect Of Derivative Instruments On The Statements Of Operations) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Debt securities - taxable | $ 163 | $ 156 | $ 328 | $ 310 | ||||||
Loans, including fees | 992 | 881 | 1,973 | 1,732 | ||||||
Long-term borrowings | 96 | 73 | 198 | 145 | ||||||
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Taxable Debt Securities in Interest Income [Member] | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Amounts Related to Interest Settlements on Derivatives | 0 | (1) | 0 | (1) | ||||||
Gain or (Loss) Recognized in Income on Derivatives | (1) | 2 | (2) | 5 | ||||||
Gain or (Loss) Recognized in Income on Related Hedged Item | 1 | (2) | 2 | (5) | ||||||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | (1) | 0 | (1) | ||||||
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Loans Including Fees in Interest Income [Member] | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Amounts Related to Interest Settlements on Derivatives | 0 | 0 | 0 | 0 | ||||||
Gain or (Loss) Recognized in Income on Derivatives | 0 | 0 | 0 | 0 | ||||||
Gain or (Loss) Recognized in Income on Related Hedged Item | 0 | 0 | 0 | 0 | ||||||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | 0 | 0 | 0 | ||||||
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Long-term Borrowings In Interest Expense [Member] | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Amounts Related to Interest Settlements on Derivatives | (5) | (4) | (11) | (5) | ||||||
Gain or (Loss) Recognized in Income on Derivatives | 57 | (9) | 90 | (41) | ||||||
Gain or (Loss) Recognized in Income on Related Hedged Item | (57) | 8 | (90) | 40 | ||||||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (5) | (5) | (11) | (6) | ||||||
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Taxable Debt Securities in Interest Income [Member] | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Gain or (Loss) Reclassified from AOCI into Income | 0 | [1],[2] | 0 | [1],[2] | 0 | 0 | ||||
Net Income (Expense) Recognized on Cash Flow Hedges | 0 | [2] | 0 | [2] | 0 | 0 | ||||
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Loans Including Fees in Interest Income [Member] | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Gain or (Loss) Reclassified from AOCI into Income | (8) | 5 | [1],[2] | (16) | 16 | |||||
Net Income (Expense) Recognized on Cash Flow Hedges | (8) | [2] | 5 | [2] | (16) | 16 | ||||
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Long-term Borrowings In Interest Expense [Member] | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Gain or (Loss) Reclassified from AOCI into Income | 0 | [1],[2] | 0 | [1],[2] | 0 | 0 | ||||
Net Income (Expense) Recognized on Cash Flow Hedges | $ 0 | [2] | $ 0 | [2] | $ 0 | $ 0 | ||||
|
Derivative Financial Instruments and Hedging Activities (Schedule of Fair Value Hedging Basis Adjustments) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Designated as Hedging Item [Member] | Debt Available-for-sale Securities [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Asset, Fair Value Hedge | $ 34 | $ 85 |
Hedge Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 2 | 0 |
Designated as Hedging Item [Member] | Long-term Debt [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Liability, Fair Value Hedge | (3,692) | (3,103) |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | (40) | 50 |
Not Designated as Hedging Item [Member] | Debt Available-for-sale Securities [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Asset, Fair Value Hedge | 323 | 604 |
Hedge Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 2 | 4 |
Not Designated as Hedging Item [Member] | Long-term Debt [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Liability, Fair Value Hedge | 0 | 0 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | $ 0 | $ 0 |
Derivative Financial Instruments and Hedging Activities (Schedule of Gains (Losses) Recognized Related to Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | $ 37 | $ 7 | $ 65 | $ 6 |
Capital markets income | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 3 | 14 | 7 | 31 |
Capital markets income | Interest Rate Swaps [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (4) | 5 | (3) | 12 |
Capital markets income | Interest Rate Options [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 5 | 6 | 7 | 13 |
Capital markets income | Interest Rate Futures And Forward Commitments [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 3 | 1 | 4 | 2 |
Capital markets income | Other Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (1) | 2 | (1) | 4 |
Mortgage Income [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 34 | (7) | 58 | (25) |
Mortgage Income [Member] | Interest Rate Swaps [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 35 | (6) | 54 | (24) |
Mortgage Income [Member] | Interest Rate Options [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 2 | 0 | 5 | 3 |
Mortgage Income [Member] | Interest Rate Futures And Forward Commitments [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | $ (3) | $ (1) | $ (1) | $ (4) |
Derivative Financial Instruments And Hedging Activities (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Terminated Cash Flow Hedge Unrealized Gain (Loss) To Be Reclassified From OCI, After Tax Amount | $ 45 | $ 125 | |||
Cash Flow Hedge Pre Tax Income (Loss) | $ 3 | $ 14 | 8 | $ 29 | |
Cash flow hedge gain (loss) expected to be reclassified from AOCI into earnings within the next 12 months | 11 | ||||
Pre-tax net income related to amortization of discontinued cash flow hedges | $ 8 | ||||
Maximum Length of Time Hedged in Cash Flow Hedge | 8 years | ||||
Derivative, Notional Amount | 132,121 | $ 132,121 | $ 87,394 | ||
Credit risk, defined as all positive exposures not collateralized | 358 | 358 | 130 | ||
Maximum potential future exposure on swap participations | 600 | 600 | |||
Aggregate fair value of all derivative instruments with credit risk | 53 | 53 | 45 | ||
Posted collateral related to derivative instruments with credit risk | 53 | 53 | 43 | ||
Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Derivative, Notional Amount | 108,939 | 108,939 | 72,163 | ||
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Derivative, Notional Amount | 389 | 389 | 191 | ||
Forward Sale Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Derivative, Notional Amount | 767 | 767 | 429 | ||
Forward Rate Commitments and Futures Contracts [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Derivative, Notional Amount | $ 4,100 | $ 4,100 | $ 5,700 |
Fair Value Measurements (Schedule Of Assets And Liabilities At Fair Value Measured On A Recurring Basis And Non-Recurring Basis) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
|||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | $ 22,699 | $ 22,729 | |||||||||||
Residential mortgage servicing rights | 337 | $ 386 | 418 | $ 362 | $ 356 | $ 336 | |||||||
Derivative Assets | [1],[2] | 358 | 127 | ||||||||||
Derivative Liabilities | [1],[2] | 45 | 161 | ||||||||||
Loans held for sale | 433 | 251 | |||||||||||
Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 22,699 | 22,729 | |||||||||||
Loans Held for Sale | 433 | 251 | |||||||||||
Marketable Equity Securities | 452 | 429 | |||||||||||
Residential mortgage servicing rights | 337 | 418 | |||||||||||
Derivative Assets | 716 | 370 | |||||||||||
Derivative Liabilities | 240 | 340 | |||||||||||
Nonrecurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Loans held for sale | 14 | 10 | |||||||||||
Foreclosed property and other real estate | 47 | 19 | |||||||||||
Level 1 [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 176 | 280 | |||||||||||
Derivative Assets | 1 | 2 | |||||||||||
Derivative Liabilities | 1 | 2 | |||||||||||
Loans held for sale | 0 | 0 | |||||||||||
Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 176 | 280 | |||||||||||
Loans Held for Sale | 0 | 0 | |||||||||||
Marketable Equity Securities | 452 | 429 | |||||||||||
Residential mortgage servicing rights | 0 | 0 | |||||||||||
Derivative Assets | 1 | 2 | |||||||||||
Derivative Liabilities | 1 | 2 | |||||||||||
Level 1 [Member] | Nonrecurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Loans held for sale | 0 | 0 | |||||||||||
Foreclosed property and other real estate | 0 | 0 | |||||||||||
Level 2 [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 22,520 | 22,444 | |||||||||||
Derivative Assets | 704 | 363 | |||||||||||
Derivative Liabilities | 234 | 335 | |||||||||||
Loans held for sale | 493 | 287 | |||||||||||
Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 22,520 | 22,444 | |||||||||||
Loans Held for Sale | 433 | 251 | |||||||||||
Marketable Equity Securities | 0 | 0 | |||||||||||
Residential mortgage servicing rights | 0 | 0 | |||||||||||
Derivative Assets | 704 | 363 | |||||||||||
Derivative Liabilities | 234 | 335 | |||||||||||
Level 2 [Member] | Nonrecurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Loans held for sale | 0 | 0 | |||||||||||
Foreclosed property and other real estate | 21 | 16 | |||||||||||
Level 3 [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 3 | 5 | |||||||||||
Derivative Assets | 11 | 5 | |||||||||||
Derivative Liabilities | 5 | 3 | |||||||||||
Loans held for sale | 15 | 17 | |||||||||||
Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | [3] | 3 | 5 | ||||||||||
Loans Held for Sale | [3] | 0 | 0 | ||||||||||
Marketable Equity Securities | [3] | 0 | 0 | ||||||||||
Residential mortgage servicing rights | [3] | 337 | 418 | ||||||||||
Derivative Assets | [3] | 11 | 5 | ||||||||||
Derivative Liabilities | [3] | 5 | 3 | ||||||||||
Level 3 [Member] | Nonrecurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Loans held for sale | [3] | 14 | 10 | ||||||||||
Foreclosed property and other real estate | [3] | 26 | 3 | ||||||||||
Interest Rate Swaps [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 404 | 193 | |||||||||||
Derivative Liabilities | 157 | 237 | |||||||||||
Interest Rate Swaps [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 0 | 0 | |||||||||||
Derivative Liabilities | 0 | 0 | |||||||||||
Interest Rate Swaps [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 404 | 193 | |||||||||||
Derivative Liabilities | 157 | 237 | |||||||||||
Interest Rate Swaps [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | [3] | 0 | 0 | ||||||||||
Derivative Liabilities | [3] | 0 | 0 | ||||||||||
Interest Rate Options [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 262 | 101 | |||||||||||
Derivative Liabilities | 10 | 20 | |||||||||||
Interest Rate Options [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 0 | 0 | |||||||||||
Derivative Liabilities | 0 | 0 | |||||||||||
Interest Rate Options [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 252 | 96 | |||||||||||
Derivative Liabilities | 10 | 20 | |||||||||||
Interest Rate Options [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | [3] | 10 | 5 | ||||||||||
Derivative Liabilities | [3] | 0 | 0 | ||||||||||
Interest Rate Futures And Forward Commitments [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 10 | 4 | |||||||||||
Derivative Liabilities | 19 | 9 | |||||||||||
Interest Rate Futures And Forward Commitments [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 0 | 0 | |||||||||||
Derivative Liabilities | 0 | 0 | |||||||||||
Interest Rate Futures And Forward Commitments [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 10 | 4 | |||||||||||
Derivative Liabilities | 19 | 9 | |||||||||||
Interest Rate Futures And Forward Commitments [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | [3] | 0 | 0 | ||||||||||
Derivative Liabilities | [3] | 0 | 0 | ||||||||||
Other Contract [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 40 | 72 | |||||||||||
Derivative Liabilities | 54 | 74 | |||||||||||
Other Contract [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 1 | 2 | |||||||||||
Derivative Liabilities | 1 | 2 | |||||||||||
Other Contract [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | 38 | 70 | |||||||||||
Derivative Liabilities | 48 | 69 | |||||||||||
Other Contract [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Derivative Assets | [3] | 1 | 0 | ||||||||||
Derivative Liabilities | [3] | 5 | 3 | ||||||||||
US Treasury Securities [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 176 | 280 | |||||||||||
US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 176 | 280 | |||||||||||
US Treasury Securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 176 | 280 | |||||||||||
US Treasury Securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 0 | 0 | |||||||||||
US Treasury Securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | [3] | 0 | 0 | ||||||||||
Federal Agency Securities [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 44 | 43 | |||||||||||
Federal Agency Securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 0 | 0 | |||||||||||
Federal Agency Securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 44 | 43 | |||||||||||
Federal Agency Securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | [3] | 0 | 0 | ||||||||||
Residential Agency [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 16,751 | 16,624 | |||||||||||
Residential Agency [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 16,751 | 16,624 | |||||||||||
Residential Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 0 | 0 | |||||||||||
Residential Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 16,751 | 16,624 | |||||||||||
Residential Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | [3] | 0 | 0 | ||||||||||
Residential Non-Agency [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 2 | 2 | |||||||||||
Residential Non-Agency [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 2 | 2 | |||||||||||
Residential Non-Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 0 | 0 | |||||||||||
Residential Non-Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 0 | 0 | |||||||||||
Residential Non-Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | [3] | 2 | 2 | ||||||||||
Commercial Agency [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 3,741 | 3,835 | |||||||||||
Commercial Agency [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 3,741 | 3,835 | |||||||||||
Commercial Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 0 | 0 | |||||||||||
Commercial Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 3,741 | 3,835 | |||||||||||
Commercial Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | [3] | 0 | 0 | ||||||||||
Commercial Non-Agency [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 707 | 760 | |||||||||||
Commercial Non-Agency [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 707 | 760 | |||||||||||
Commercial Non-Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 0 | 0 | |||||||||||
Commercial Non-Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 707 | 760 | |||||||||||
Commercial Non-Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | [3] | 0 | 0 | ||||||||||
Corporate and other debt securities [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 1,278 | 1,185 | |||||||||||
Corporate and other debt securities [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 1,278 | 1,185 | |||||||||||
Corporate and other debt securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 0 | 0 | |||||||||||
Corporate and other debt securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | 1,277 | 1,182 | |||||||||||
Corporate and other debt securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||
Debt securities available for sale | [3] | $ 1 | $ 3 | ||||||||||
|
Fair Value Measurements (Rollforward For Assets And Liabilities Measured At Fair Value On A Recurring Basis With Level 3 Significant Unobservable Inputs) (Details) - Residential Mortgage Servicing Rights [Member] - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Opening balance | $ 386 | $ 356 | $ 418 | $ 336 | ||
Gain (Loss) Included in Earnings | [1] | (57) | (3) | (96) | 9 | |
Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 | ||
Purchases | 8 | 9 | 15 | 17 | ||
Sales | 0 | 0 | 0 | 0 | ||
Issuances | 0 | 0 | 0 | 0 | ||
Settlements | 0 | 0 | 0 | 0 | ||
Transfers Into Level 3 | 0 | 0 | 0 | 0 | ||
Transfers Out Of Level 3 | 0 | 0 | 0 | 0 | ||
Closing balance | $ 337 | $ 362 | $ 337 | $ 362 | ||
|
Fair Value Measurements (Schedule Of Fair Value Adjustments Related To Non-Recurring Fair Value Measurements) (Details) - Nonrecurring Fair Value Measurements [Member] - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Loans Held For Sale [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, Fair Value Adjustment | $ (4) | $ (3) | $ (6) | $ (6) |
Foreclosed Property And Other Real Estate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, Fair Value Adjustment | $ (31) | $ (5) | $ (39) | $ (10) |
Fair Value Measurements (Summary Of Quantitative Information About Level 3 Fair Value Measurements) (Details) - Mortgage Servicing Rights [Member] - Discounted Cash Flow [Member] $ in Millions |
6 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2019
USD ($)
|
[1] |
Dec. 31, 2018
USD ($)
|
[2] | |||||
Level 3 [Member] | ||||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||||
Assets, Fair Value Disclosure | $ 337 | $ 418 | ||||||
Recurring Fair Value Measurements [Member] | Minimum [Member] | ||||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||||
Weighted Average CPR | 0.051 | 0.044 | ||||||
Option-Adjusted Spread | 5.70% | 5.70% | ||||||
Recurring Fair Value Measurements [Member] | Maximum [Member] | ||||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||||
Weighted Average CPR | 0.450 | 0.426 | ||||||
Option-Adjusted Spread | 13.00% | 15.00% | ||||||
Recurring Fair Value Measurements [Member] | Weighted Average [Member] | ||||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||||
Weighted Average CPR | 0.125 | 0.090 | ||||||
Option-Adjusted Spread | 7.60% | 7.60% | ||||||
|
Fair Value Measurements (Fair Value Option, Fair Value and Unpaid Principal Balance) (Details) - Mortgage loans held for sale [Member] - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
|
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||
Mortgages Held-for-sale, Fair Value Disclosure | $ 433 | $ 433 | $ 251 | ||
Fair Value Option Mortgages Held For Sale Aggregate Unpaid Principal | 418 | 418 | 242 | ||
Aggregate Fair Value Less Aggregate Unpaid Principal | 15 | 15 | $ 9 | ||
Net gains (losses) resulting from changes in fair value | $ 5 | $ 3 | $ 5 | $ 0 |
Fair Value Measurements (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Financial Assets [Abstract] | |||||||||||||||||||||||||
Debt securities held to maturity | $ 1,448 | $ 1,460 | |||||||||||||||||||||||
Debt securities available for sale | 22,699 | 22,729 | |||||||||||||||||||||||
Loans held for sale | 433 | 251 | |||||||||||||||||||||||
Other earning assets | 1,646 | 1,719 | |||||||||||||||||||||||
Derivative Assets | [1],[2] | 358 | 127 | ||||||||||||||||||||||
Financial Liabilities [Abstract] | |||||||||||||||||||||||||
Derivative Liabilities | [1],[2] | 45 | 161 | ||||||||||||||||||||||
Fair Value Discount On Loan Portfolio Amount | $ 320 | $ 1,700 | |||||||||||||||||||||||
Fair value discount on loan portfolio, rate | 0.40% | 2.10% | |||||||||||||||||||||||
Capital leases, carrying amount excluded | $ 1,200 | $ 1,100 | |||||||||||||||||||||||
Operating leases, carrying amount excluded | 327 | 369 | |||||||||||||||||||||||
Carrying Amount [Member] | |||||||||||||||||||||||||
Financial Assets [Abstract] | |||||||||||||||||||||||||
Cash and cash equivalents | 4,488 | 3,538 | |||||||||||||||||||||||
Debt securities held to maturity | 1,415 | 1,482 | |||||||||||||||||||||||
Debt securities available for sale | 22,699 | 22,729 | |||||||||||||||||||||||
Loans held for sale | 508 | 304 | |||||||||||||||||||||||
Loans (excluding leases), net of unearned income and allowance for loan losses | 81,467 | [3],[4] | 81,054 | [5],[6] | |||||||||||||||||||||
Other earning assets | 1,319 | [7] | 1,350 | [8] | |||||||||||||||||||||
Derivative Assets | 716 | 370 | |||||||||||||||||||||||
Financial Liabilities [Abstract] | |||||||||||||||||||||||||
Derivative Liabilities | 240 | 340 | |||||||||||||||||||||||
Deposits | 94,971 | 94,491 | |||||||||||||||||||||||
Short-term borrowings | 4,250 | 1,600 | |||||||||||||||||||||||
Long-term borrowings | 9,213 | 12,424 | |||||||||||||||||||||||
Loan commitments and letters of credit | 73 | 79 | |||||||||||||||||||||||
Estimate of Fair Value [Member] | |||||||||||||||||||||||||
Financial Assets [Abstract] | |||||||||||||||||||||||||
Cash and cash equivalents | 4,488 | [9] | 3,538 | [10] | |||||||||||||||||||||
Debt securities held to maturity | 1,448 | [9] | 1,460 | [10] | |||||||||||||||||||||
Debt securities available for sale | 22,699 | [9] | 22,729 | [10] | |||||||||||||||||||||
Loans held for sale | 508 | [9] | 304 | [10] | |||||||||||||||||||||
Loans (excluding leases), net of unearned income and allowance for loan losses | 81,147 | [3],[4],[9] | 79,386 | [5],[6],[10] | |||||||||||||||||||||
Other earning assets | 1,319 | [7],[9] | 1,350 | [8],[10] | |||||||||||||||||||||
Derivative Assets | 716 | [9] | 370 | [10] | |||||||||||||||||||||
Financial Liabilities [Abstract] | |||||||||||||||||||||||||
Derivative Liabilities | 240 | [9] | 340 | [10] | |||||||||||||||||||||
Deposits | 95,010 | [9] | 94,531 | [10] | |||||||||||||||||||||
Short-term borrowings | 4,250 | [9] | 1,600 | [10] | |||||||||||||||||||||
Long-term borrowings | 9,544 | [9] | 12,610 | [10] | |||||||||||||||||||||
Loan commitments and letters of credit | 489 | [9] | 435 | [10] | |||||||||||||||||||||
Level 1 [Member] | |||||||||||||||||||||||||
Financial Assets [Abstract] | |||||||||||||||||||||||||
Cash and cash equivalents | 4,488 | 3,538 | |||||||||||||||||||||||
Debt securities held to maturity | 0 | 0 | |||||||||||||||||||||||
Debt securities available for sale | 176 | 280 | |||||||||||||||||||||||
Loans held for sale | 0 | 0 | |||||||||||||||||||||||
Loans (excluding leases), net of unearned income and allowance for loan losses | 0 | [3],[4] | 0 | [5],[6] | |||||||||||||||||||||
Other earning assets | 452 | [7] | 429 | [8] | |||||||||||||||||||||
Derivative Assets | 1 | 2 | |||||||||||||||||||||||
Financial Liabilities [Abstract] | |||||||||||||||||||||||||
Derivative Liabilities | 1 | 2 | |||||||||||||||||||||||
Deposits | 0 | 0 | |||||||||||||||||||||||
Short-term borrowings | 0 | 0 | |||||||||||||||||||||||
Long-term borrowings | 0 | 0 | |||||||||||||||||||||||
Loan commitments and letters of credit | 0 | 0 | |||||||||||||||||||||||
Level 2 [Member] | |||||||||||||||||||||||||
Financial Assets [Abstract] | |||||||||||||||||||||||||
Cash and cash equivalents | 0 | 0 | |||||||||||||||||||||||
Debt securities held to maturity | 1,448 | 1,460 | |||||||||||||||||||||||
Debt securities available for sale | 22,520 | 22,444 | |||||||||||||||||||||||
Loans held for sale | 493 | 287 | |||||||||||||||||||||||
Loans (excluding leases), net of unearned income and allowance for loan losses | 0 | [3],[4] | 0 | [5],[6] | |||||||||||||||||||||
Other earning assets | 867 | [7] | 921 | [8] | |||||||||||||||||||||
Derivative Assets | 704 | 363 | |||||||||||||||||||||||
Financial Liabilities [Abstract] | |||||||||||||||||||||||||
Derivative Liabilities | 234 | 335 | |||||||||||||||||||||||
Deposits | 95,010 | 94,531 | |||||||||||||||||||||||
Short-term borrowings | 4,250 | 1,600 | |||||||||||||||||||||||
Long-term borrowings | 9,212 | 12,408 | |||||||||||||||||||||||
Loan commitments and letters of credit | 0 | 0 | |||||||||||||||||||||||
Level 3 [Member] | |||||||||||||||||||||||||
Financial Assets [Abstract] | |||||||||||||||||||||||||
Cash and cash equivalents | 0 | 0 | |||||||||||||||||||||||
Debt securities held to maturity | 0 | 0 | |||||||||||||||||||||||
Debt securities available for sale | 3 | 5 | |||||||||||||||||||||||
Loans held for sale | 15 | 17 | |||||||||||||||||||||||
Loans (excluding leases), net of unearned income and allowance for loan losses | 81,147 | [3],[4] | 79,386 | [5],[6] | |||||||||||||||||||||
Other earning assets | 0 | [7] | 0 | [8] | |||||||||||||||||||||
Derivative Assets | 11 | 5 | |||||||||||||||||||||||
Financial Liabilities [Abstract] | |||||||||||||||||||||||||
Derivative Liabilities | 5 | 3 | |||||||||||||||||||||||
Deposits | 0 | 0 | |||||||||||||||||||||||
Short-term borrowings | 0 | 0 | |||||||||||||||||||||||
Long-term borrowings | 332 | 202 | |||||||||||||||||||||||
Loan commitments and letters of credit | $ 489 | $ 435 | |||||||||||||||||||||||
|
Business Segment Information (Schedule Of Financial Information By Reportable Segment) (Details) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019
USD ($)
|
Jun. 30, 2018
USD ($)
|
Jun. 30, 2019
USD ($)
segment
|
Jun. 30, 2018
USD ($)
|
|
Segment Reporting Information [Line Items] | ||||
Number of reportable segments | segment | 3 | |||
Total non-interest income | $ 494 | $ 512 | $ 996 | $ 1,019 |
Non-interest expense | 861 | 911 | 1,721 | 1,795 |
Income from continuing operations before income taxes | 483 | 467 | 982 | 1,009 |
Income tax expense (benefit) | 93 | 89 | 198 | 217 |
Corporate Bank [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 360 | 337 | 717 | 674 |
Provision (Credit) for Loan Losses | 43 | 43 | 86 | 90 |
Total non-interest income | 135 | 136 | 266 | 280 |
Non-interest expense | 232 | 232 | 465 | 460 |
Income from continuing operations before income taxes | 220 | 198 | 432 | 404 |
Income tax expense (benefit) | 55 | 49 | 108 | 101 |
Net income | 165 | 149 | 324 | 303 |
Average assets | 54,294 | 51,076 | 54,074 | 51,056 |
Consumer Bank [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 585 | 552 | 1,162 | 1,083 |
Provision (Credit) for Loan Losses | 83 | 76 | 166 | 153 |
Total non-interest income | 292 | 289 | 574 | 565 |
Non-interest expense | 521 | 517 | 1,035 | 1,034 |
Income from continuing operations before income taxes | 273 | 248 | 535 | 461 |
Income tax expense (benefit) | 68 | 62 | 133 | 115 |
Net income | 205 | 186 | 402 | 346 |
Average assets | 35,065 | 34,862 | 35,232 | 34,906 |
Wealth Management [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 45 | 49 | 92 | 98 |
Provision (Credit) for Loan Losses | 4 | 4 | 8 | 8 |
Total non-interest income | 82 | 80 | 160 | 156 |
Non-interest expense | 87 | 86 | 175 | 176 |
Income from continuing operations before income taxes | 36 | 39 | 69 | 70 |
Income tax expense (benefit) | 9 | 10 | 17 | 17 |
Net income | 27 | 29 | 52 | 53 |
Average assets | 2,178 | 2,317 | 2,190 | 2,338 |
Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | (48) | (12) | (81) | (20) |
Provision (Credit) for Loan Losses | (38) | (63) | (77) | (201) |
Total non-interest income | (15) | 7 | (4) | 18 |
Non-interest expense | 21 | 76 | 46 | 125 |
Income from continuing operations before income taxes | (46) | (18) | (54) | 74 |
Income tax expense (benefit) | (39) | (32) | (60) | (16) |
Net income | (7) | 14 | 6 | 90 |
Average assets | 34,578 | 34,547 | 34,334 | 34,761 |
Continuing Operations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 942 | 926 | 1,890 | 1,835 |
Provision (Credit) for Loan Losses | 92 | 60 | 183 | 50 |
Total non-interest income | 494 | 512 | 996 | 1,019 |
Non-interest expense | 861 | 911 | 1,721 | 1,795 |
Income from continuing operations before income taxes | 483 | 467 | 982 | 1,009 |
Income tax expense (benefit) | 93 | 89 | 198 | 217 |
Net income | 390 | 378 | 784 | 792 |
Average assets | 126,115 | 122,802 | 125,830 | 123,061 |
Discontinued Operations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 0 | 0 | 0 | 0 |
Provision (Credit) for Loan Losses | 0 | 0 | 0 | 0 |
Total non-interest income | 0 | 35 | 0 | 69 |
Non-interest expense | 0 | 38 | 0 | 72 |
Income from continuing operations before income taxes | 0 | (3) | 0 | (3) |
Income tax expense (benefit) | 0 | 0 | 0 | 0 |
Net income | 0 | (3) | 0 | (3) |
Average assets | 0 | 158 | 0 | 165 |
Consolidated [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 942 | 926 | 1,890 | 1,835 |
Provision (Credit) for Loan Losses | 92 | 60 | 183 | 50 |
Total non-interest income | 494 | 547 | 996 | 1,088 |
Non-interest expense | 861 | 949 | 1,721 | 1,867 |
Income from continuing operations before income taxes | 483 | 464 | 982 | 1,006 |
Income tax expense (benefit) | 93 | 89 | 198 | 217 |
Net income | 390 | 375 | 784 | 789 |
Average assets | $ 126,115 | $ 122,960 | $ 125,830 | $ 123,226 |
Commitments, Contingencies and Guarantees (Credit Risk Of Off-Balance Sheet Financial Instruments By Contractual Amounts) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
---|---|---|---|---|---|---|
Other Commitments [Line Items] | ||||||
Unused commitments to extend credit | $ 52,305 | $ 51,406 | ||||
Standby Letters Of Credit Commitment | 1,396 | 1,428 | ||||
Commercial letters of credit | 124 | 44 | ||||
Liabilities associated with standby letters of credit | 22 | 28 | ||||
Assets associated with standby letters of credit | 24 | 29 | ||||
Reserve for unfunded credit commitments | $ 50 | $ 50 | $ 51 | $ 48 | $ 49 | $ 53 |
Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Commitments and Contingencies Disclosure [Abstract] | ||
Loss Contingency, Range of Possible Loss, Portion Not Accrued | $ 20 | |
Long-term Purchase Commitment [Line Items] | ||
Fannie Mae DUS Servicing Portfolio, Amount | 3,600 | $ 3,600 |
Maximum Quantifiable Fannie Mae DUS Loss Share Guarantee | 1,200 | 1,200 |
Estimated Fair Value of the Fannie Mae DUS Loss Share Guarantee | $ 5 | $ 4 |
Revenue Recognition (Non-Interest Income Disaggregated by Major Product Category) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
||||
Corporate Bank [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | $ 74 | $ 80 | $ 153 | $ 152 | |||
Corporate Bank [Member] | Service charges on deposit accounts | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 38 | 36 | 77 | 73 | |||
Corporate Bank [Member] | Card and ATM fees | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 18 | 14 | 31 | 26 | |||
Corporate Bank [Member] | Investment management and trust fee income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Corporate Bank [Member] | Capital markets income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 16 | 26 | 37 | 44 | |||
Corporate Bank [Member] | Mortgage income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Corporate Bank [Member] | Investment Services Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Corporate Bank [Member] | Commercial Credit Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Corporate Bank [Member] | Bank-owned life insurance [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Corporate Bank [Member] | Securities gains (losses), net | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Corporate Bank [Member] | Market value adjustments on employee benefit assets - defined benefit [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Corporate Bank [Member] | Market value adjustments on employee benefit assets - other [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Corporate Bank [Member] | Insurance commissions and fees [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | |||||
Corporate Bank [Member] | Other miscellaneous income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 2 | 4 | 8 | 9 | |||
Consumer Bank [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 261 | 249 | 513 | 485 | |||
Consumer Bank [Member] | Service charges on deposit accounts | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 139 | 135 | 272 | 266 | |||
Consumer Bank [Member] | Card and ATM fees | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 108 | 102 | 207 | 198 | |||
Consumer Bank [Member] | Investment management and trust fee income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Capital markets income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Mortgage income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Investment Services Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Commercial Credit Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Bank-owned life insurance [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Securities gains (losses), net | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Market value adjustments on employee benefit assets - defined benefit [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Market value adjustments on employee benefit assets - other [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Consumer Bank [Member] | Insurance commissions and fees [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | |||||
Consumer Bank [Member] | Other miscellaneous income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 14 | 12 | 34 | 21 | |||
Wealth Management [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 81 | 79 | 159 | 156 | |||
Wealth Management [Member] | Service charges on deposit accounts | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 2 | 1 | 2 | 2 | |||
Wealth Management [Member] | Card and ATM fees | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Wealth Management [Member] | Investment management and trust fee income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 59 | 58 | 116 | 116 | |||
Wealth Management [Member] | Capital markets income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Wealth Management [Member] | Mortgage income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Wealth Management [Member] | Investment Services Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 20 | 19 | 39 | 36 | |||
Wealth Management [Member] | Commercial Credit Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Wealth Management [Member] | Bank-owned life insurance [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Wealth Management [Member] | Securities gains (losses), net | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Wealth Management [Member] | Market value adjustments on employee benefit assets - defined benefit [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Wealth Management [Member] | Market value adjustments on employee benefit assets - other [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Wealth Management [Member] | Insurance commissions and fees [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | |||||
Wealth Management [Member] | Other miscellaneous income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 1 | 2 | 2 | |||
Other Segment Revenue [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 1 | 1 | (3) | 2 | |||
Other Segment Revenue [Member] | Service charges on deposit accounts | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 1 | 1 | |||
Other Segment Revenue [Member] | Card and ATM fees | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 1 | 0 | |||
Other Segment Revenue [Member] | Investment management and trust fee income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Capital markets income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Mortgage income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Investment Services Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Commercial Credit Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Bank-owned life insurance [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Securities gains (losses), net | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Market value adjustments on employee benefit assets - defined benefit [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Market value adjustments on employee benefit assets - other [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Other Segment Revenue [Member] | Insurance commissions and fees [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 1 | 1 | |||||
Other Segment Revenue [Member] | Other miscellaneous income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 1 | 0 | (5) | 0 | |||
Other Revenue - Not Impacted [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 77 | 103 | 174 | 224 | ||
Other Revenue - Not Impacted [Member] | Service charges on deposit accounts | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 2 | 3 | 4 | 4 | ||
Other Revenue - Not Impacted [Member] | Card and ATM fees | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | (6) | (4) | (10) | (8) | ||
Other Revenue - Not Impacted [Member] | Investment management and trust fee income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 0 | 0 | 0 | 0 | ||
Other Revenue - Not Impacted [Member] | Capital markets income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 23 | 31 | 44 | 63 | ||
Other Revenue - Not Impacted [Member] | Mortgage income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 31 | 37 | 58 | 75 | ||
Other Revenue - Not Impacted [Member] | Investment Services Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 0 | 0 | 0 | 0 | ||
Other Revenue - Not Impacted [Member] | Commercial Credit Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 18 | 17 | 36 | 34 | ||
Other Revenue - Not Impacted [Member] | Bank-owned life insurance [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 19 | 18 | 42 | 35 | ||
Other Revenue - Not Impacted [Member] | Securities gains (losses), net | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | (19) | 1 | (26) | 1 | ||
Other Revenue - Not Impacted [Member] | Market value adjustments on employee benefit assets - defined benefit [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 0 | (1) | 5 | (2) | ||
Other Revenue - Not Impacted [Member] | Market value adjustments on employee benefit assets - other [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | (2) | (1) | (3) | (1) | ||
Other Revenue - Not Impacted [Member] | Insurance commissions and fees [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 0 | 0 | ||||
Other Revenue - Not Impacted [Member] | Other miscellaneous income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | [1] | 11 | 2 | 24 | 23 | ||
Continuing Operations [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 494 | 512 | 996 | 1,019 | |||
Continuing Operations [Member] | Service charges on deposit accounts | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 181 | 175 | 356 | 346 | |||
Continuing Operations [Member] | Card and ATM fees | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 120 | 112 | 229 | 216 | |||
Continuing Operations [Member] | Investment management and trust fee income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 59 | 58 | 116 | 116 | |||
Continuing Operations [Member] | Capital markets income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 39 | 57 | 81 | 107 | |||
Continuing Operations [Member] | Mortgage income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 31 | 37 | 58 | 75 | |||
Continuing Operations [Member] | Investment Services Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 20 | 19 | 39 | 36 | |||
Continuing Operations [Member] | Commercial Credit Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 18 | 17 | 36 | 34 | |||
Continuing Operations [Member] | Bank-owned life insurance [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 19 | 18 | 42 | 35 | |||
Continuing Operations [Member] | Securities gains (losses), net | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | (19) | 1 | (26) | 1 | |||
Continuing Operations [Member] | Market value adjustments on employee benefit assets - defined benefit [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | (1) | 5 | (2) | |||
Continuing Operations [Member] | Market value adjustments on employee benefit assets - other [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | (2) | (1) | (3) | (1) | |||
Continuing Operations [Member] | Insurance commissions and fees [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 1 | 1 | |||||
Continuing Operations [Member] | Other miscellaneous income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 28 | 19 | 63 | 55 | |||
Discontinued Operations [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 35 | 0 | 69 | |||
Discontinued Operations [Member] | Service charges on deposit accounts | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Card and ATM fees | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Investment management and trust fee income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Capital markets income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Mortgage income | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Investment Services Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Commercial Credit Fee Income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Bank-owned life insurance [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Securities gains (losses), net | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Market value adjustments on employee benefit assets - defined benefit [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Market value adjustments on employee benefit assets - other [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Discontinued Operations [Member] | Insurance commissions and fees [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | 35 | 69 | |||||
Discontinued Operations [Member] | Other miscellaneous income [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue | $ 0 | $ 0 | $ 0 | $ 0 | |||
|
Recent Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Millions |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2019 |
Jan. 01, 2019 |
Jun. 30, 2018 |
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Operating Lease, Right-of-Use Asset | $ 430 | $ 451 | |
Operating Lease, Liability | 505 | $ 451 | |
Financing Receivable, Allowance for Credit Losses | 903 | $ 886 | |
Minimum [Member] | CECL [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease) | 400 | ||
Maximum [Member] | CECL [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease) | $ 600 |
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