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Securities (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Securities Available for Sale
The amortized cost and fair value of AFS debt securities are presented in the table below. There was no ACL in the AFS portfolio at December 31, 2021 and December 31, 2020. Accrued interest receivable on AFS debt securities totaled $7.3 million and $6.2 million at December 31, 2021 and December 31, 2020, respectively, and is excluded from the estimate of credit losses and assessed separately in other assets in the Consolidated Balance Sheets. Accordingly, we have excluded accrued interest receivable from both the fair value and the amortized cost basis of AFS debt securities.
TABLE 3.1
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Debt Securities AFS:
December 31, 2021
U.S. Treasury$205 $— $(1)$204 
U.S. government agencies154 1 — 155 
U.S. government-sponsored entities194 — (2)192 
Residential mortgage-backed securities:
Agency mortgage-backed securities1,342 19 (4)1,357 
Agency collateralized mortgage obligations1,192 11 (17)1,186 
Commercial mortgage-backed securities294 5 (2)297 
States of the U.S. and political subdivisions (municipals)33 — — 33 
Other debt securities2 — — 2 
Total debt securities AFS$3,416 $36 $(26)$3,426 
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
 Value
Debt Securities AFS:
December 31, 2020
U.S. Treasury$600 $— $— $600 
U.S. government agencies172 — — 172 
U.S. government-sponsored entities160 1 — 161 
Residential mortgage-backed securities:
Agency mortgage-backed securities959 35 — 994 
Agency collateralized mortgage obligations1,094 31 (1)1,124 
Commercial mortgage-backed securities361 17 — 378 
States of the U.S. and political subdivisions (municipals)32 — — 32 
Other debt securities2 — — 2 
Total debt securities AFS$3,380 $84 $(1)$3,463 
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity
The amortized cost and fair value of HTM debt securities are presented in the table below. The ACL for the HTM municipal bond portfolio was $0.05 million and $0.04 million at December 31, 2021 and December 31, 2020, respectively. Accrued interest receivable on HTM debt securities totaled $12.3 million and $12.5 million at December 31, 2021 and December 31, 2020, respectively, and is excluded from the estimate of credit losses and assessed separately in other assets in the Consolidated Balance Sheets. Accordingly, we have excluded accrued interest receivable from both the fair value and the amortized cost basis of HTM debt securities.
TABLE 3.2
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
 Value
Debt Securities HTM:
December 31, 2021
U.S. Treasury$1 $— $— $1 
U.S. government agencies1 — — 1 
Residential mortgage-backed securities:
Agency mortgage-backed securities1,191 15 (5)1,201 
Agency collateralized mortgage obligations930 5 (12)923 
Commercial mortgage-backed securities323 3 (2)324 
States of the U.S. and political subdivisions (municipals)1,017 39 — 1,056 
Total debt securities HTM$3,463 $62 $(19)$3,506 
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
 Value
Debt Securities HTM:
December 31, 2020
U.S. Treasury$1 $— $— $1 
U.S. government agencies1 — — 1 
U.S. government-sponsored entities120 1 — 121 
Residential mortgage-backed securities:
Agency mortgage-backed securities769 29 — 798 
Agency collateralized mortgage obligations562 17 — 579 
Commercial mortgage-backed securities307 10 — 317 
States of the U.S. and political subdivisions (municipals)1,108 48 — 1,156 
Total debt securities HTM$2,868 $105 $— $2,973 
Amortized Cost and Fair Value of Securities, by Contractual Maturities
As of December 31, 2021, the amortized cost and fair value of debt securities, by contractual maturities, were as follows:
TABLE 3.3
Available for SaleHeld to Maturity
(in millions)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in one year or less$45 $45 $1 $1 
Due after one year but within five years374 371 21 22 
Due after five years but within ten years96 97 142 144 
Due after ten years73 73 855 891 
588 586 1,019 1,058 
Residential mortgage-backed securities:
Agency mortgage-backed securities1,342 1,357 1,191 1,201 
Agency collateralized mortgage obligations1,192 1,186 930 923 
Commercial mortgage-backed securities294 297 323 324 
Total debt securities$3,416 $3,426 $3,463 $3,506 
Schedule of Securities Pledged as Collateral
Following is information relating to securities pledged:
TABLE 3.4
December 3120212020
(dollars in millions)
Securities pledged (carrying value):
To secure public deposits, trust deposits and for other purposes as required by law$5,660 $5,384 
As collateral for short-term borrowings392 402 
Securities pledged as a percent of total securities87.9 %91.4 %
Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment
Following are summaries of the fair values of AFS debt securities in an unrealized loss position for which an ACL has not been recorded, segregated by security type and length of continuous loss position:
TABLE 3.5
Less than 12 Months12 Months or MoreTotal
(dollars in millions)#Fair
Value		Unrealized
Losses		#Fair
Value		Unrealized
Losses		#Fair
Value		Unrealized
Losses
Debt Securities AFS
December 31, 2021
U.S. Treasury3 $151 $(1)— $— $— 3 $151 $(1)
U.S. government agencies3 22 — 9 8 — 12 30 — 
U.S. government-sponsored entities3 99 (1)1 24 (1)4 123 (2)
Residential mortgage-backed securities:
Agency mortgage-backed securities13 599 (4)— — — 13 599 (4)
Agency collateralized mortgage obligations23 659 (15)3 68 (2)26 727 (17)
Commercial mortgage-backed securities5 125 (2)— — — 5 125 (2)
States of the U.S. and political subdivisions (municipals)10 24 — — — — 10 24 — 
Other debt securities— — — 1 2 — 1 2 — 
Total 60 $1,679 $(23)14 $102 $(3)74 $1,781 $(26)
Less than 12 Months12 Months or MoreTotal
(dollars in millions)#Fair
 Value		Unrealized
Losses		#Fair
 Value		Unrealized
Losses		#Fair
 Value		Unrealized
Losses
Debt Securities AFS
December 31, 2020
U.S. government agencies1 $13 $— 16 $69 $— 17 $82 $— 
U.S. government-sponsored entities1 25 — — — — 1 25 — 
Residential mortgage-backed securities:
Agency collateralized mortgage obligations5 130 (1)— — — 5 130 (1)
Other debt securities— — — 1 2 — 1 2 — 
Total7 $168 $(1)17 $71 $— 24 $239 $(1)