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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Summary of Investment Securities

The following table presents our investment securities:
 
Amortized Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Value
 
(Dollars in millions)
June 30, 2019
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
Agency - Commercial
$
970

 
$
1

 
$
(12
)
 
$
959

Agency - Residential
634

 
2

 
(5
)
 
631

Corporate debt obligations
63

 
1

 
—

 
64

Municipal obligations
32

 
—

 
—

 
32

Other MBS
30

 
1

 
—

 
31

Certificate of deposits
1

 
—

 
—

 
1

Total available-for-sale securities (1)
$
1,730

 
$
5

 
$
(17
)
 
$
1,718

Held-to-maturity securities
 
 
 
 
 
 
 
Agency - Commercial
$
335

 
$
—

 
$
(5
)
 
$
330

Agency - Residential
326

 
2

 
(1
)
 
327

Total held-to-maturity securities (1)
$
661

 
$
2

 
$
(6
)
 
$
657

December 31, 2018
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
Agency - Commercial
$
1,413

 
$
4

 
$
(43
)
 
$
1,374

Agency - Residential
686

 
—

 
(24
)
 
662

Corporate debt obligations
41

 
—

 
—

 
41

Municipal obligations
33

 
—

 
(1
)
 
32

Other MBS
32

 
—

 
—

 
32

Certificate of Deposits
1

 
—

 
—

 
1

Total available-for-sale securities (1)
$
2,206

 
$
4

 
$
(68
)
 
$
2,142

Held-to-maturity securities
 
 
 
 
 
 
 
Agency - Commercial
$
349

 
$
—

 
$
(13
)
 
$
336

Agency - Residential
354

 
—

 
(9
)
 
345

Total held-to-maturity securities (1)
$
703

 
$
—

 
$
(22
)
 
$
681


(1)
There were no securities of a single issuer, which are not governmental or government-sponsored, that exceeded 10 percent of stockholders’ equity at June 30, 2019 or December 31, 2018.
Summary of Unrealized Loss Positions on Investment Securities - Available-for-Sale
The following table summarizes available-for-sale and held-to-maturity securities, by duration, the unrealized loss positions on investment securities: 
 
Unrealized Loss Position with
Duration 12 Months and Over
 
Unrealized Loss Position with
Duration Under 12 Months
 
Fair Value
 
Number of Securities
 
Unrealized Loss
 
Fair
Value
 
Number of
Securities
 
Unrealized
Loss
 
(Dollars in millions)
June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
Agency - Commercial
$
835

 
57

 
$
(12
)
 
$
—

 
—

 
$
—

Agency - Residential
395

 
39

 
(5
)
 
—

 
—

 
—

Municipal obligations
13

 
5

 
—

 
6

 
1

 
—

Corporate debt obligations
—

 
—

 
—

 
—

 
—

 
—

Other MBS
—

 
—

 
—

 
13

 
1

 
—

Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
Agency - Commercial
$
286

 
23

 
$
(5
)
 
$
—

 
—

 
$
—

Agency - Residential
104

 
19

 
(1
)
 
14

 
2

 
—

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
Agency - Commercial
$
1,025

 
74

 
$
(43
)
 
$
1

 
1

 
$
—

Agency - Residential
647

 
79

 
(24
)
 
14

 
5

 
—

Municipal obligations
28

 
16

 
(1
)
 
1

 
2

 
—

Corporate debt obligations
—

 
—

 
—

 
7

 
2

 
—

Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
Agency - Commercial
$
336

 
26

 
$
(13
)
 
$
—

 
—

 
$
—

Agency - Residential
345

 
60

 
(9
)
 
—

 
—

 
—
Summary of Unrealized Loss Positions on Investment Securities - Held-to-Maturity
The following table summarizes available-for-sale and held-to-maturity securities, by duration, the unrealized loss positions on investment securities: 
 
Unrealized Loss Position with
Duration 12 Months and Over
 
Unrealized Loss Position with
Duration Under 12 Months
 
Fair Value
 
Number of Securities
 
Unrealized Loss
 
Fair
Value
 
Number of
Securities
 
Unrealized
Loss
 
(Dollars in millions)
June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
Agency - Commercial
$
835

 
57

 
$
(12
)
 
$
—

 
—

 
$
—

Agency - Residential
395

 
39

 
(5
)
 
—

 
—

 
—

Municipal obligations
13

 
5

 
—

 
6

 
1

 
—

Corporate debt obligations
—

 
—

 
—

 
—

 
—

 
—

Other MBS
—

 
—

 
—

 
13

 
1

 
—

Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
Agency - Commercial
$
286

 
23

 
$
(5
)
 
$
—

 
—

 
$
—

Agency - Residential
104

 
19

 
(1
)
 
14

 
2

 
—

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
Agency - Commercial
$
1,025

 
74

 
$
(43
)
 
$
1

 
1

 
$
—

Agency - Residential
647

 
79

 
(24
)
 
14

 
5

 
—

Municipal obligations
28

 
16

 
(1
)
 
1

 
2

 
—

Corporate debt obligations
—

 
—

 
—

 
7

 
2

 
—

Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
Agency - Commercial
$
336

 
26

 
$
(13
)
 
$
—

 
—

 
$
—

Agency - Residential
345

 
60

 
(9
)
 
—

 
—

 
—
Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity
The following table shows the amortized cost and estimated fair value of securities by contractual maturity:
 
Investment Securities Available-for-Sale
 
Investment Securities Held-to-maturity
 
Amortized
Cost
 
Fair
Value
 
Weighted Average
Yield
 
Amortized
Cost
 
Fair
Value
 
Weighted Average
Yield
 
(Dollars in millions)
June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Due in one year or less
$
1

 
$
1

 
1.50
%
 
$
—

 
$
—

 
—
%
Due after one year through five years
13

 
13

 
2.63
%
 
10

 
10

 
2.45
%
Due after five years through 10 years
77

 
78

 
4.48
%
 
10

 
10

 
2.29
%
Due after 10 years
1,639

 
1,626

 
2.40
%
 
641

 
637

 
2.46
%
Total
$
1,730

 
$
1,718

 
 
 
$
661

 
$
657