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

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Information Related to Operating Lease

The following table reflects information relating to our operating leases:

	December 31, 2021
	(Dollars in millions)
Operating Leases (1)
Weighted-average remaining lease term (years)	3.66
Weighted-average discount rate	1.3		%
Right-of-use asset (2)	$	18
Lease liability (3)	$	21

(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

The following table presents our undiscounted cash flows on our operating lease liabilities as of December 31, 2021

and our minimum contractual obligations on our operating leases as of December 31, 2020:

	December 31, 2021		December 31, 2020
	(Dollars in millions)
Within one year	$	9	$	9
After one year and within two years	8		8
After two years and within three years	5		5
After three years and within four years	4		3
After four years and within five years	2		2
After five years	1		1
Total (1)	$	29	$	28

(1)The difference between the total undiscounted cash payments on operating leases and the lease liability is solely the effect of discounting.

Disaggregation of Revenue

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

		For the Years Ended December 31,
	Location of Revenue (1)	2021		2020
		(Dollars in millions)
Deposit account and other banking income	Deposit fees and charges	$	22	$	21
Debit card interchange fees	Deposit fees and charges	12		11
Credit card interchange fees	Other noninterest income	1		1
Wealth management	Other noninterest income	8		8
Total		$	43	$	41

(1)Recognized within the Community Banking segment.

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

The following table illustrates the impact of adopting ASC 326:

	January 1, 2020
	Pre-ASC 326 Adoption		Impact of ASC 326 Adoption		As Reported Under ASC 326
	(Dollars in millions)
Assets:
Allowance for loan losses	$	107	$	23	$	130
Liabilities:
Reserve for unfunded commitments	$	3	$	7	$	10

We adopted the following ASUs during 2021, none of which had a material impact to our financial statements:

Standard	Description	Effective Date
ASU 2021-06	Presentation of Financial Statements (Topic 205), Financial Services—Depository and Lending (Topic 942), and Financial Services—Investment Companies (Topic 946): Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants (SEC Update)	July 1, 2021
ASU 2021-01	Reference Rate Reform (Topic 848): Scope	January 1, 2021
ASU 2019-12	Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	January 1, 2021