Discontinued Operations and Disposal Groups (Tables)

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups - Summary of assets and liabilities

The following is a summary of the assets and liabilities of discontinued operations:

(Dollars in millions)	Mar 31, 2024		Dec 31, 2023
Assets of discontinued operations:
Cash and due from banks	$	83	$	72
Interest-bearing deposits with banks	352		342
Premises and equipment	66		72
Goodwill	3,745		3,745
CDI and other intangible assets	1,229		1,251
Other assets	2,297		2,173
Total assets of discontinued operations	$	7,772	$	7,655
Liabilities of discontinued operations:
Other liabilities	$	3,122	$	3,539
Total liabilities of discontinued operations	$	3,122	$	3,539

Discontinued Operations - Summary of Operating Results of the Discontinued Insurance Agency Business

The following presents operating results of TIH classified as discontinued operations:

(Dollars in millions)	Three Months Ended March 31,
	2024		2023
Interest Income
Interest on other earning assets	$	24	$	1
Total interest income	24		1
Noninterest income
Insurance income	$	892	$	815
Other income	5		3
Total noninterest income	897		818
Expenses
Personnel expense	634		513
Professional fees and outside processing	48		27
Software expense	17		14
Net occupancy expense	15		14
Amortization of intangibles	21		36
Equipment expense	9		8
Marketing and customer development	10		10
Restructuring charges	19		7
Other expense	58		52
Total noninterest expense	831		681
Earnings
Income before income taxes from discontinued operations	90		138
Provision for income taxes	23		33
Net income from discontinued operations	67		105
Noncontrolling interests	3		2
Net income from discontinued operations attributable to controlling interest	$	64	$	103

Statement Of Cash Flows Discontinued Operations

The components of net cash provided by operating, investing, and financing activities of discontinued operations included in the Consolidated Statements of Cash Flows are as follows:

(Dollars in millions)	Three Months Ended March 31,
	2024		2023
Net cash from operating activities	$	(346)	$	(134)
Net cash from investing activities	(4)		(7)
Net cash from financing activities	373		(45)