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SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2023
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 March 31, 2023 and December 31, 2022. Accrued interest receivable on AFS debt securities totaled $8.9 million at both March 31, 2023 and December 31, 2022, 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 4.1
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
 Value
Debt Securities AFS:
March 31, 2023
U.S. Treasury$278 $— $(17)$261 
U.S. government agencies100 1 — 101 
U.S. government-sponsored entities279 — (18)261 
Residential mortgage-backed securities:
Agency mortgage-backed securities1,299 — (112)1,187 
Agency collateralized mortgage obligations1,070 — (120)950 
Commercial mortgage-backed securities424 — (32)392 
States of the U.S. and political subdivisions (municipals)32 — (3)29 
Other debt securities21 — (1)20 
Total debt securities AFS$3,503 $1 $(303)$3,201 
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
 Value
Debt Securities AFS:
December 31, 2022
U.S. Treasury$278 $— $(21)$257 
U.S. government agencies107 1 — 108 
U.S. government-sponsored entities283 — (21)262 
Residential mortgage-backed securities:
Agency mortgage-backed securities1,360 — (128)1,232 
Agency collateralized mortgage obligations1,110 — (138)972 
Commercial mortgage-backed securities430 — (35)395 
States of the U.S. and political subdivisions (municipals)33 — (4)29 
Other debt securities21 — (1)20 
Total debt securities AFS$3,622 $1 $(348)$3,275 
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 portfolio was $0.32 million and $0.23 million at March 31, 2023 and December 31, 2022, respectively. Accrued interest receivable on HTM debt securities totaled $13.6 million and $14.0 million at March 31, 2023 and December 31, 2022, 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 4.2
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
 Value
Debt Securities HTM:
March 31, 2023
U.S. government agencies$1 $— $— $1 
U.S. government-sponsored entities92 1 — 93 
Residential mortgage-backed securities:
Agency mortgage-backed securities1,139 — (110)1,029 
Agency collateralized mortgage obligations920 — (107)813 
Commercial mortgage-backed securities873 3 (44)832 
States of the U.S. and political subdivisions (municipals)1,032 3 (76)959 
Other debt securities16 — (1)15 
Total debt securities HTM$4,073 $7 $(338)$3,742 
(in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
 Value
Debt Securities HTM:
December 31, 2022
U.S. government agencies$1 $— $— $1 
U.S. government-sponsored entities52 — — 52 
Residential mortgage-backed securities:
Agency mortgage-backed securities1,178 — (125)1,053 
Agency collateralized mortgage obligations953 — (120)833 
Commercial mortgage-backed securities866 2 (50)818 
States of the U.S. and political subdivisions (municipals)1,025 1 (107)919 
Other debt securities12 — (1)11 
Total debt securities HTM$4,087 $3 $(403)$3,687 
Amortized Cost and Fair Value of Securities, by Contractual Maturities
As of March 31, 2023, the amortized cost and fair value of debt securities, by contractual maturities, were as follows:
TABLE 4.3
Available for SaleHeld to Maturity
(in millions)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in one year or less$8 $8 $3 $3 
Due after one year but within five years578 542 131 131 
Due after five years but within ten years85 83 225 216 
Due after ten years39 39 782 718 
710 672 1,141 1,068 
Residential mortgage-backed securities:
Agency mortgage-backed securities1,299 1,187 1,139 1,029 
Agency collateralized mortgage obligations1,070 950 920 813 
Commercial mortgage-backed securities424 392 873 832 
Total debt securities$3,503 $3,201 $4,073 $3,742 
Schedule of Securities Pledged as Collateral
Following is information relating to securities pledged:
TABLE 4.4
(dollars in millions)March 31,
2023		December 31,
2022
Securities pledged (carrying value):
To secure public deposits, trust deposits and for other purposes as required by law$5,904 $6,403 
As collateral for short-term borrowings282 348 
Securities pledged as a percent of total securities85.0 %91.7 %
Summaries of Fair Values and Unrealized Losses of Impaired 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 time in a continuous loss position:
TABLE 4.5
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
March 31, 2023
U.S. Treasury2 $73 $(2)4 $188 $(15)6 $261 $(17)
U.S. government agencies6 37 — 9 10 — 15 47 — 
U.S. government-sponsored entities3 72 (2)9 189 (16)12 261 (18)
Residential mortgage-backed securities:
Agency mortgage-backed securities15 152 (5)100 1,032 (107)115 1,184 (112)
Agency collateralized mortgage obligations5 60 (3)66 890 (117)71 950 (120)
Commercial mortgage-backed securities8 164 (7)13 228 (25)21 392 (32)
States of the U.S. and political subdivisions (municipals)1 1 — 13 28 (3)14 29 (3)
Other debt securities2 9 — 6 8 (1)8 17 (1)
Total 42 $568 $(19)220 $2,573 $(284)262 $3,141 $(303)
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, 2022
U.S. Treasury3 $120 $(7)3 $137 $(14)6 $257 $(21)
U.S. government agencies6 46 — 8 4 — 14 50 — 
U.S. government-sponsored entities9 150 (8)4 112 (13)13 262 (21)
Residential mortgage-backed securities:
Agency mortgage-backed securities104 773 (58)13 455 (70)117 1,228 (128)
Agency collateralized mortgage obligations49 455 (42)23 517 (96)72 972 (138)
Commercial mortgage-backed securities16 302 (21)5 94 (14)21 396 (35)
States of the U.S. and political subdivisions (municipals)4 7 (1)10 22 (3)14 29 (4)
Other debt securities7 15 (1)1 2 — 8 17 (1)
Total198 $1,868 $(138)67 $1,343 $(210)265 $3,211 $(348)