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Income Taxes (Tables) - Federal
 12 Months Ended
Dec. 31, 2020
Schedule of Income Tax Disclosure  
Components of the Provision (Benefit) for Income Taxes Components of the provision for income taxes consist of the following:
 For the Years Ended December 31,
 202020192018
 (Dollars in millions)
Current
Federal $154 $17 $— 
State14 6 1 
Total current income tax expense168 23 1 
Deferred
Federal(10)39 47 
State8 (14)(3)
Total deferred income tax expense(2)25 44 
Total income tax expense$166 $48 $45 
Summary of Differences Between the Effective Tax Rate and the Statutory Federal Tax Rate Our effective tax rate differs from the statutory federal tax rate. The following is a summary of such differences:
 For the Years Ended December 31,
 202020192018
 (Dollars in millions)
Provision at statutory federal income tax rate$148 $56 $49 
(Decreases) increases resulting from:
Bank owned life insurance(2)(2)(2)
State income tax (benefit), net of federal income tax effect (net of valuation allowance release)18 (6)(2)
Low income housing tax losses(1)(1)(1)
Other3 1 1 
Provision for income taxes$166 $48 $45 
Effective tax provision rate23.5 %18.1 %19.4 %
Temporary Differences and Carryforwards Giving Rise to DTAs and Liabilities Temporary differences and carryforwards that give rise to DTAs and liabilities are comprised of the following:
 December 31,
 20202019
 (Dollars in millions)
Deferred tax assets
Net operating loss carryforwards (Federal and State)$36 $43 
Allowance for credit losses58 26 
Accrued compensation15 12 
Litigation settlement8 9 
Lease liability6 6 
Contingent consideration7 4 
General business reserves11 2 
Other4 11 
Total$145 $113 
Valuation allowance(7)(5)
Total net$138 $108 
Deferred tax liabilities
Mark-to-market adjustments$(4)$(12)
Premises and equipment(7)(7)
State and local taxes(6)(7)
Commercial lease financing(1)(5)
Mortgage loan servicing rights(53)(5)
Right of use asset(5)(6)
Total$(76)$(42)
Net deferred tax asset$62 $66