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Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
    Our operations are conducted through three operating segments: Community Banking, Mortgage Originations and Mortgage Servicing. The Other segment includes the remaining reported activities. Operating segments are defined as components of an enterprise that engage in business activity from which revenues are earned and expenses are incurred for which discrete financial information is available that is evaluated regularly by executive management in deciding how to allocate resources and in assessing performance. The operating segments have been determined based on the products and services offered and reflect the manner in which financial information is currently evaluated by Management. Each segment operates under the same banking charter, but is reported on a segmented basis for this report. Each of the operating segments is complementary to each other and because of the interrelationships of the segments, the information presented is not indicative of how the segments would perform if they operated as independent entities.

As a result of Management's evaluation of our segments, effective January 1, 2022, certain administrative departments have been realigned between the Community Banking and the Other segment. The income and expenses relating to these changes are reflected in our financial statements and all prior period segment financial information has been recast to conform to the current presentation.

The Community Banking segment originates loans, provides deposits and fee-based services to consumer, business, and mortgage lending customers through its Branch Banking, Business Banking and Commercial Banking, Government Banking and Warehouse Lending. Products offered through these groups include checking accounts, savings accounts, money market accounts, CD, consumer loans, commercial loans, CRE loans, home builder finance loans and warehouse lines of credit. Other financial services available include consumer and corporate card services, customized treasury management solutions, merchant services and capital markets services such as loan syndications, and investment and insurance products and services. The interest income on LHFI is recognized in the Community Banking segment, excluding residential first mortgages and newly originated home equity products within the Mortgage Originations segment.

The Mortgage Originations segment originates and acquires one-to-four family residential mortgage loans to sell or hold on our balance sheet. Loans originated-to-sell comprise the majority of the lending activity. These loans are originated through mortgage branches, call centers, the Internet and third-party counterparties. The Mortgage Originations segment recognizes interest income on loans that are held-for-sale and the gains from sales associated with these loans, along with the interest income on residential mortgages and newly originated home equity products within LHFI.

The Mortgage Servicing segment services and subservices mortgage and other consumer loans for others on a fee for service basis and may also collect ancillary fees and earn income through the use of noninterest-bearing escrows. Revenue for those serviced and subserviced loans is earned on a contractual fee basis, with the fees varying based on our responsibilities and
the status of the underlying loans. The Mortgage Servicing segment also services loans for our LHFI portfolio and our own LHFS portfolio in the Mortgage Originations segment, for which it earns revenue via an intercompany service fee allocation.

The Other segment includes the treasury functions, which include the impact of interest rate risk management, balance sheet funding activities and the administration of the investment securities portfolios, as well as miscellaneous other expenses of a corporate nature. In addition, the Other segment includes revenue and expenses related to treasury and corporate assets and liabilities and equity not directly assigned or allocated to the Community Banking, Mortgage Originations or Mortgage Servicing operating segments.

Revenues are comprised of net interest income (before the provision (benefit) for credit losses) and noninterest income. Noninterest expenses and a majority of provision (benefit) for income taxes, are allocated to each operating segment. Provision for credit losses is allocated to segments based on net charge-offs and changes in outstanding balances. In contrast, the level of the consolidated provision for credit losses is determined based on an allowance model using the methodologies described in Item 2 – MD&A. The net effect of the credit provision is recorded in the Other segment. Allocation methodologies may be subject to periodic adjustment as the internal management accounting system is revised and the business or product lines within the segments change.

    The following tables present financial information by business segment for the periods indicated:
 Three Months Ended June 30, 2022
 Community BankingMortgage OriginationsMortgage ServicingOther (1)Total
(Dollars in millions)
Summary of Operations
Net interest income$136 $46 $4 $7 $193 
Provision (benefit) for credit losses13 (6)— (16)(9)
Net interest income after provision (benefit) for credit losses123 52 4 23 202 
Net gain on loan sales— 27 — — 27 
Loan fees and charges— 7 22 — 29 
Net return on mortgage servicing rights— 22 — — 22 
Loan administrative (expense) income(1)(7)44 (3)33 
Other noninterest income (expense)19 (5)— 6 20 
Total noninterest income18 44 66 3 131 
Compensation and benefits28 37 18 39 122 
Commissions— 22 — — 22 
Loan processing expense1 9 12 1 23 
General, administrative and other34 4 23 28 89 
Total noninterest expense63 72 53 68 256 
Income (loss) before indirect overhead allocations and income taxes78 24 17 (42)77 
Indirect overhead allocation (expense) income(12)(16)(7)35 — 
Provision for income taxes11 — 2 4 17 
Net income$55 $8 $8 $(11)$60 
Intersegment revenue (expense)$14 $5 $10 $(29)$— 
Average balances
Loans held-for-sale$5 $3,566 $— $— $3,571 
Loans with government guarantees— 1,161 — — 1,161 
Loans held-for-investment (2)11,577 1,766 — (4)13,339 
Total assets11,962 7,807 134 3,964 23,867 
Deposits11,744 34 4,764 946 17,488 
(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 LHFI.
Three Months Ended June 30, 2021
 Community BankingMortgage OriginationsMortgage ServicingOther (1)Total
(Dollars in millions)
Summary of Operations
Net interest income$149 $58 $3 $(27)$183 
Provision (benefit) for credit losses1 (2)— (43)(44)
Net interest income after benefit for credit losses148 60 3 16 227 
Net gain on loan sales— 168 — — 168 
Loan fees and charges— 18 19 — 37 
Net return on mortgage servicing rights— (5)— — (5)
Loan administrative (expense) income— (9)40 (3)28 
Other noninterest income15 2 — 7 24 
Total noninterest income15 174 59 4 252 
Compensation and benefits25 49 16 32 122 
Commissions1 50 — — 51 
Loan processing expense2 12 8 — 22 
General, administrative and other1 20 21 52 94 
Total noninterest expense29 131 45 84 289 
Income (loss) before indirect overhead allocations and income taxes134 103 17 (64)190 
Indirect overhead allocation (expense) income(9)(16)(5)30 — 
Provision (benefit) for income taxes26 18 3 (4)43 
Net income (loss)$99 $69 $9 $(30)$147 
Intersegment revenue (expense)$45 $(1)$11 $(55)$— 
Average balances
Loans held-for-sale$22 $6,880 $— $— $6,902 
Loans with government guarantees— 2,344 — — 2,344 
Loans held-for-investment (2)11,827 1,838 — 24 13,689 
Total assets12,175 12,021 268 3,547 28,011 
Deposits11,694 23 6,179 1,174 19,070 
(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 LHFI.
 Six Months Ended June 30, 2022
 Community BankingMortgage OriginationsMortgage ServicingOther (1)Total
(Dollars in millions)
Summary of Operations
Net interest income$258 $102 $7 $(9)$358 
Provision (benefit) for credit losses35 (3)— (45)(13)
Net interest income after benefit for credit losses223 105 7 36 371 
Net gain on loan sales— 72 — — 72 
Loan fees and charges— 13 43 — 56 
Net return on mortgage servicing rights— 51 — — 51 
Loan administrative (expense) income(1)(14)87 (6)66 
Other noninterest (expense) income37 (4)— 13 46 
Total noninterest income36 118 130 7 291 
Compensation and benefits56 82 34 77 249 
Commissions1 47 — — 48 
Loan processing expense3 18 21 2 44 
General, administrative and other52 15 44 65 176 
Total noninterest expense112 162 99 144 517 
Income (loss) before indirect overhead allocations and income taxes147 61 38 (101)145 
Indirect overhead allocation (expense) income(22)(31)(13)66 — 
Provision (benefit) for income taxes23 4 5 — 32 
Net income (loss)$102 $26 $20 $(35)$113 
Intersegment revenue (expense)$36 $14 $19 $(69)$— 
Average balances
Loans held-for-sale$11 $4,187 $— $1 $4,199 
Loans with government guarantees— 1,282 (1)— 1,281 
Loans held-for-investment (2)11,261 1,605 — (3)12,863 
Total assets11,646 8,248 150 3,969 24,013 
Deposits11,874 38 4,890 985 17,787 
(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 LHFI.
 Six Months Ended June 30, 2021
 Community BankingMortgage OriginationsMortgage ServicingOther (1)Total
(Dollars in millions)
Summary of Operations
Net interest income$305 $114 $7 $(55)$371 
Provision (benefit) for credit losses(13)(4)— (55)(72)
Net interest income after benefit for credit losses318 118 7 — 443 
Net gain on loan sales— 395 — — 395 
Loan fees and charges1 41 37 — 79 
Net return on mortgage servicing rights— (5)— — (5)
Loan administrative (expense) income— (20)80 (6)54 
Other noninterest income34 5 — 14 53 
Total noninterest income35 416 117 8 576 
Compensation and benefits51 103 32 80 266 
Commissions1 111 — — 112 
Loan processing expense3 23 15 2 43 
General, administrative and other33 42 44 96 215 
Total noninterest expense88 279 91 178 636 
Income (loss) before indirect overhead allocations and income taxes265 255 33 (170)383 
Indirect overhead allocation (expense) income(19)(35)(10)64 — 
Provision (benefit) for income taxes52 46 5 (16)87 
Net income (loss)$194 $174 $18 $(90)$296 
Intersegment revenue (expense)$59 $(3)$22 $(78)$— 
Average balances
Loans held-for-sale$11 $7,170 $— $— $7,181 
Loans with government guarantees— 2,422 — — 2,422 
Loans held-for-investment (2)12,314 1,958 — 27 14,299 
Total assets12,668 12,515 329 3,520 29,032 
Deposits11,749 19 6,665 1,121 19,554 
(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 LHFI.