Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Components in Accumulated Other Comprehensive Income (Loss)

The following table sets forth the components in accumulated other comprehensive income:

	For the Years Ended December 31,
	2020		2019		2018
	(Dollars in millions)
Investment Securities
Beginning balance	$	1	$	(47)	$	(18)
Unrealized gain (loss)	68		57		(30)
Less: Tax provision (benefit)	16		14		(7)
Net unrealized gain (loss)	52		43		(23)
Reclassifications out of AOCI (1)	(1)		6		(1)
Less: Tax provision	—		1		—
Net unrealized (loss) gain reclassified out of AOCI	(1)		5		(1)
Reclassification of certain income tax effects (2)	—		—		(5)
Other comprehensive income (loss), net of tax	51		48		(29)
Ending balance	$	52	$	1	$	(47)
Cash Flow Hedges
Beginning balance	$	—	$	—	$	2
Unrealized (loss) gain	(9)		—		27
Less: Tax (benefit) provision	(2)		—		7
Net unrealized (loss) gain	(7)		—		20
Reclassifications out of AOCI (1)	2		—		(30)
Less: Tax benefit	—		—		(8)
Net unrealized gain (loss) reclassified out of AOCI	2		—		(22)
Other comprehensive loss, net of tax	(5)		—		(2)
Ending balance	$	(5)	$	—	$	—

(1)Reclassifications are reported in noninterest income on the Consolidated Statement of Operations.

(2)Income tax effects of the Tax Cuts and Jobs Act are reclassified from AOCI to retained earnings due to early adoption of ASU 2018-02.