Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Disaggregation of Revenue [Table Text Block]

The disaggregation of our revenue from contracts with customers is provided below:

		For the Years Ended December 31,
	Location of Revenue (1)	2019		2018
		(Dollars in millions)
Deposit account and other banking income	Deposit fees and charges	$	27	$	16
Interchange fees	Deposit fees and charges	11		5
Interchange fees	Other noninterest income	2		1
Wealth management	Other noninterest income	6		9
Total		$	46	$	31

(1)

Recognized within the Community Banking segment.

Schedule of information related to operating lease

The following table reflects information relating to our operating leases:

	December 31, 2019
	(Dollars in millions)
Operating Leases (1)
Weighted-average remaining lease term (years)	3.7
Weighted-average discount rate	2.82		%
Right-of-use asset (2)	$	22
Lease liability (3)	$	23

(1) Lease expense on operating leases includes a de-minimis amount of short-term lease expense and variable lease expense.

(2) Recorded in premises and equipment on the Consolidated Statements of Financial Condition.

(3)

Recorded in other liabilities on the Consolidated Statements of Financial Condition

Schedule of Minimum Contractual Lease Obligations

	December 31, 2019		December 31, 2018
	(Dollars in millions)
Within one year	$	9	$	9
After one year and within two years	7		6
After two years and within three years	5		4
After three years and within four years	3		2
After four years and within five years	1		1
After five years	2		3
Total (1)	$	27	$	25

Schedule of Adoption of New Accounting Standards and Accounting Standards Issued But Not Yet Adopted

We adopted the following accounting standard updates (ASU) during 2019, none of which had a material impact to our financial statements:

Standard	Description	Effective Date
ASU 2019-07	SEC Final Rule Releases: Codification Updates	July 26, 2019
ASU 2019-01	Leases (Topic 842): Codification Improvements	January 1, 2019
ASU 2018-20	Leases (Topic 842): Narrow-Scope Improvements for Lessors	January 1, 2019
ASU 2018-16	Derivatives and hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes	January 1, 2019
ASU 2018-11	Leases (Topic 842): Targeted Improvements	January 1, 2019
ASU 2018-10	Codification Improvements to Topic 842, Leases	January 1, 2019
ASU 2018-07	Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting	January 1, 2019
ASU 2017-11	Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Non-controlling Interests with a Scope.	January 1, 2019
ASU 2017-08	Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities	January 1, 2019
ASU 2017-06	Plan Accounting - Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting	January 1, 2019

The following ASUs have been issued and are not expected to have a material impact on our Consolidated Financial Statements and/or significant accounting policies