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Accumulated Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Components of Other Comprehensive Income (Loss)
The components of other comprehensive income (loss) are as follows:
 
2020
 
2019
Three Months Ended June 30,
Before
Tax
 
Tax
Effect
 
Net of
Tax
 
Before
Tax
 
Tax
Effect
 
Net of
Tax
Change in net unrealized gain (loss) on available for sale securities:
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gain (loss)
$
2,113

 
$
(498
)
 
$
1,615

 
$
218

 
$
(53
)
 
$
165

Other reclassifications included in other revenue
—

 
—

 
—

 
(3
)
 
1

 
(2
)
Amortization of amounts previously recorded upon transfer to held to
maturity from available for sale
—

 
—

 
—

 
8

 
(1
)
 
7

Other
1

 
—

 
1

 
—

 
—

 
—

Other comprehensive income (loss)
$
2,114

 
$
(498
)
 
$
1,616

 
$
223

 
$
(53
)
 
$
170

 
2020
 
2019
Six Months Ended June 30,
Before
Tax
 
Tax
Effect
 
Net of
Tax
 
Before
Tax
 
Tax
Effect
 
Net of
Tax
Change in net unrealized gain (loss) on available for sale securities:
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gain (loss)
$
7,264

 
$
(1,742
)
 
$
5,522

 
$
445

 
$
(107
)
 
$
338

Other reclassifications included in other revenue
—

 
—

 
—

 
(4
)
 
1

 
(3
)
Amortization of amounts previously recorded upon transfer to held to
maturity from available for sale
—

 
—

 
—

 
20

 
(4
)
 
16

Other
1

 
—

 
1

 
—

 
—

 
—

Other comprehensive income (loss)
$
7,265

 
$
(1,742
)
 
$
5,523

 
$
461

 
$
(110
)
 
$
351
Accumulated Other Comprehensive Income Balances
AOCI balances are as follows:
 
Total AOCI
Balance at March 31, 2019
$
(71
)
Available for sale securities:
 
Net unrealized gain (loss), excluding transfers to available for sale from held to maturity
165

Other reclassifications included in other revenue
(2
)
Held to maturity securities:
 
Amortization of amounts previously recorded upon transfer to held to maturity from available for sale
7

Balance at June 30, 2019
$
99

 
 
Balance at March 31, 2020
$
3,995

Available for sale securities:
 
Net unrealized gain (loss), excluding transfers to available for sale from held to maturity
1,615

Other
1

Balance at June 30, 2020
$
5,611


 
Total AOCI
Balance at December 31, 2018
(252
)
Available for sale securities:
 
Net unrealized gain (loss), excluding transfers to available for sale from held to maturity
319

Net unrealized gain on securities transferred to available for sale from held to maturity (1)
19

Other reclassifications included in other revenue
(3
)
Held to maturity securities:
 
Amortization of amounts previously recorded upon transfer to held to maturity from available for sale
16

Balance at June 30, 2019
99

 
 
Balance at December 31, 2019
88

Available for sale securities:
 
Net unrealized gain (loss), excluding transfers to available for sale from held to maturity
4,465

Net unrealized gain on securities transferred to available for sale from held to maturity (2)
1,057

Other
1

Balance at June 30, 2020
5,611

(1) In the first quarter of 2019, the Company made an election to transfer a portion of its HTM securities to AFS as part of its adoption of ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”. The transfer resulted in a net of tax increase to AOCI of $19 million.
(2) On January 1, 2020, the Company transferred all of its investment securities designated as HTM to the AFS category. The transfer resulted in a net of tax increase to AOCI of $1.1 billion. See Note 5 for additional discussion on the 2020 transfer of HTM securities to AFS.