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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
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,
 202120202019
 (Dollars in millions)
Current
Federal $66 $154 $17 
State13 14 6 
Total current income tax expense79 168 23 
Deferred
Federal70 (10)39 
State8 8 (14)
Total deferred income tax expense78 (2)25 
Total income tax expense$157 $166 $48 
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,
 202120202019
 (Dollars in millions)
Provision at statutory federal income tax rate$145 $148 $56 
(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)17 18 (6)
Low income housing tax losses(2)(1)(1)
Other(1)3 1 
Provision for income taxes$157 $166 $48 
Effective tax provision rate22.7 %23.5 %18.1 %
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,
 20212020
 (Dollars in millions)
Deferred tax assets
Net operating loss carryforwards (Federal and State)$28 $36 
Allowance for credit losses28 58 
Accrued compensation16 15 
Litigation settlement— 8 
Lease liability5 6 
Contingent consideration8 7 
General business reserves— 11 
Other10 4 
Total$95 $145 
Valuation allowance(5)(7)
Total net$90 $138 
Deferred tax liabilities
Mark-to-market adjustments$(6)$(4)
Premises and equipment(15)(7)
State and local taxes(3)(6)
Commercial lease financing(1)(1)
Mortgage loan servicing rights(72)(53)
Right of use asset(5)(5)
Total$(102)$(76)
Net deferred tax (liability) asset$(12)$62