Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Financial Information by Business Segment

The following tables present financial information by business segment for the periods indicated:


	Year-Ended December 31, 2021
	Community Banking		Mortgage Originations		Mortgage Servicing		Other (1)		Total
	(Dollars in millions)
Summary of Operations
Net interest income	$	601	$	248	$	15	$	(117)	$	747
Provision (benefit) for credit losses	4		(10)		—		(106)		(112)
Net interest income after provision (benefit) for credit losses	597		258		15		(11)		859
Net gain on loan sales	—		655		—		—		655
Loan fees and charges	1		65		75		—		141
Net return on mortgage servicing rights	—		23		—		—		23
Loan administration (expense) income	(1)		(34)		165		(9)		121
Other noninterest income	65		14		—		25		104
Total noninterest income	65		723		240		16		1,044
Compensation and benefits	107		200		65		161		533
Commissions	2		192		—		—		194
Loan processing expense	5		45		32		4		86
Other noninterest expense	60		88		87		165		400
Total noninterest expense	174		525		184		330		1,213
Income before indirect overhead allocations and income taxes	488		456		71		(325)		690
Indirect overhead allocation (expense) income	(35)		(67)		(19)		121		—
Provision (benefit) for income taxes	95		81		11		(30)		157
Net income (loss)	$	358	$	308	$	41	$	(174)	$	533

Intersegment (expense) revenue	$	119	$	(2)	$	43	$	(160)	$	—

Average balances
Loans held-for-sale	$	15	$	7,131	$	—	$	—	$	7,146
Loans with government guarantees	$	—	$	2,156	$	—	$	—	$	2,156
Loans held-for-investment (2)	$	12,062	$	1,780	$	—	$	18	$	13,860
Total assets	$	12,427	$	11,981	$	223	$	3,565	$	28,196
Deposits	$	11,964	$	28	$	6,463	$	1,198	$	19,653

(1)Includes offsetting adjustments made to reclassify income and expenses relating to operating leases and custodial deposits for subservicing clients.

(2) Includes adjustment made to reclassify operating lease assets to loans held-for-investment.


	Year-Ended December 31, 2020
	Community Banking		Mortgage Originations		Mortgage Servicing		Other (1)		Total
	(Dollars in millions)
Summary of Operations
Net interest income	$	570	$	191	$	18	$	(94)	$	685
Provision (benefit) for credit losses	3		(11)		—		157		149
Net interest income after provision (benefit) for credit losses	567		202		18		(251)		536
Net gain on loan sales	2		969		—		—		971
Loan fees and charges	1		83		66		—		150
Net return on mortgage servicing rights	—		10		—		—		10
Loan administration (expense) income	(3)		(35)		151		(29)		84
Other noninterest income	61		8		—		26		95
Total noninterest income	61		1,035		217		(3)		1,310
Compensation and benefits	108		161		46		151		466
Commissions	2		230		—		—		232
Loan processing expense	5		40		36		2		83
Other noninterest expense	271		136		79		(125)		361
Total noninterest expense	386		567		161		28		1,142
Income before indirect overhead allocations and income taxes	242		670		74		(282)		704
Indirect overhead allocation	(40)		(60)		(19)		119		—
Provision (benefit) for income taxes	42		128		12		(16)		166
Net income (loss)	$	160	$	482	$	43	$	(147)	$	538

Intersegment (expense) revenue	$	(96)	$	(48)	$	39	$	105	$	—

Average balances
Loans held-for-sale	$	1	$	5,541	$	—	$	—	$	5,542
Loans with government guarantees	$	—	$	1,571	$	—	$	—	$	1,571
Loans held-for-investment (2)	$	11,376	$	2,591	$	—	$	30	$	13,997
Total assets	$	11,760	$	10,735	$	85	$	4,328	$	26,908
Deposits	$	10,996	$	—	$	6,712	$	836	$	18,544

(1)Includes offsetting adjustments made to reclassify income and expenses relating to operating leases and custodial deposits for subservicing clients.

(2) Includes adjustment made to reclassify operating lease assets to loans held-for-investment.


	Year-Ended December 31, 2019
	Community Banking		Mortgage Originations		Mortgage Servicing		Other (1)		Total
	(Dollars in millions)
Summary of Operations
Net interest income	$	410	$	145	$	16	$	(9)	$	562
Provision (benefit) for credit losses	20		2		—		(4)		18
Net interest income after provision for credit losses	390		143		16		(5)		544
Net (loss) gain on loan sales	(14)		349		—				335
Loan fees and charges	1		67		32		—		100
Net return on mortgage servicing rights	—		6		—		—		6
Loan administration (expense) income	(3)		(24)		124		(67)		30
Other noninterest income	62		12		—		65		139
Total noninterest income	46		410		156		(2)		610
Compensation and benefits	103		111		28		135		377
Commissions	2		109		—		—		111
Loan processing expense	6		36		36		2		80
Other noninterest expense	165		90		59		6		320
Total noninterest expense	276		346		123		143		888
Income before indirect overhead allocations and income taxes	160		207		49		(150)		266
Indirect overhead allocation	(41)		(42)		(18)		101		—
Provision (benefit) for income taxes	24		35		6		(17)		48
Net income (loss)	$	95	$	130	$	25	$	(32)	$	218

Intersegment revenue (expense)	$	(3)	$	13	$	26	$	(36)	$	—

Average balances
Loans held-for-sale	$	—	$	3,952	$	—	$	—	$	3,952
Loans with government guarantees	$	—	$	553	$	—	$	—	$	553
Loans held-for-investment (2)	$	7,876	$	3,027	$	—	$	29	$	10,932
Total assets	$	8,319	$	8,467	$	47	$	3,841	$	20,674
Deposits	$	10,301	$	—	$	3,851	$	556	$	14,708

(1)Includes offsetting adjustments made to reclassify income and expenses relating to operating leases and custodial deposits for subservicing clients.

(2) Includes adjustment made to reclassify operating lease assets to loans held-for-investment.