Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2021

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,
	2021		2020		2019
	(Dollars in millions)
Investment Securities
Beginning balance	$	52	$	1	$	(47)
Unrealized (loss) gain	(47)		68		57
Less: Tax (benefit) provision	(11)		16		14
Net unrealized (loss) gain	(36)		52		43
Reclassifications out of AOCI (1)	(1)		(1)		6
Less: Tax provision	—		—		1
Net reclassifications out of AOCI	(1)		(1)		5
Other comprehensive (loss) income, net of tax	(37)		51		48
Ending balance	$	15	$	52	$	1
Cash Flow Hedges
Beginning balance	$	(5)	$	—	$	—
Unrealized gain (loss)	28		(9)		—
Less: Tax provision (benefit)	6		(2)		—
Net unrealized gain (loss)	22		(7)		—
Reclassifications out of AOCI (1)	4		2		—
Less: Tax provision	1		—		—
Net reclassifications out of AOCI	3		2		—
Other comprehensive income (loss), net of tax	25		(5)		—
Ending balance	$	20	$	(5)	$	—

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