Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2023

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Schedule of Rollforward of the Allowance for Loan Losses by Portfolio Segment

The following table provides a rollforward of the ALLL and the reserve for unfunded lending commitments by portfolio type for December 31, 2023, 2022 and 2021:

Table 8.4.1

ROLLFORWARD OF ALLL & RESERVE FOR UNFUNDED LENDING COMMITMENTS

(Dollars in millions)	Commercial, Financial, and Industrial (a)		Commercial Real Estate		Consumer Real Estate		Credit Card and Other		Total
Allowance for loan and lease losses:
Balance as of January 1, 2023	$	308	$	146	$	200	$	31	$	685
Adoption of ASU 2022-02 (b)	1		—		(7)		—		(6)
Charge-offs (c)	(156)		(17)		(4)		(22)		(199)
Recoveries	14		2		9		4		29
Provision for loan and lease losses	172		41		35		16		264
Balance as of December 31, 2023	339		172		233		29		773
Reserve for remaining unfunded commitments:
Balance as of January 1, 2023	55		22		10		—		87
Provision for unfunded lending commitments	(6)		—		2		—		(4)
Balance as of December 31, 2023	49		22		12		—		83
Allowance for credit losses as of December 31, 2023	$	388	$	194	$	245	$	29	$	856
Allowance for loan and lease losses:
Balance as of January 1, 2022	$	334	$	154	$	163	$	19	$	670
Charge-offs	(62)		(1)		(5)		(25)		(93)
Recoveries	9		1		19		5		34
Provision for loan and lease losses	27		(8)		23		32		74
Balance as of December 31, 2022	308		146		200		31		685
Reserve for remaining unfunded commitments:
Balance as of January 1, 2022	46		12		8		—		66
Provision for unfunded lending commitments	9		10		2		—		21
Balance as of December 31, 2022	55		22		10		—		87
Allowance for credit losses as of December 31, 2022	$	363	$	168	$	210	$	31	$	772
Allowance for loan and lease losses
Balance as of January 1, 2021	$	453	$	242	$	242	$	26	$	963
Charge-offs	(34)		(5)		(5)		(15)		(59)
Recoveries	21		5		27		4		57
Provision for loan and lease losses	(106)		(88)		(101)		4		(291)
Balance as of December 31, 2021	334		154		163		19		670
Reserve for remaining unfunded commitments:
Balance as of January 1, 2021	65		10		10		—		85
Provision for unfunded lending commitments	(19)		2		(2)		—		(19)
Balance as of December 31, 2021	46		12		8		—		66
Allowance for credit losses as of December 31, 2021	$	380	$	166	$	171	$	19	$	736

(a)    C&I loans as of December 31, 2023, 2022, and 2021 include $29 million, $76 million, and $1.0 billion in PPP loans, respectively, which due to the government guarantee and forgiveness provisions are considered to have no credit risk and therefore have no allowance for loan and lease losses.

(b)    See Note 1 for additional information.

(c)    Charge-offs in the C&I portfolio in 2023 include $72 million from a single credit from a company in bankruptcy.

Schedule Of Gross Charge Offs by Year of Origination

The following table represents gross charge-offs by year of origination for the year ended December 31, 2023:

Table 8.4.2

GROSS CHARGE-OFFS
(Dollars in millions)	2023		2022		2021		2020		2019		Prior to 2019		Revolving Loans		Total
C&I	$	1	$	17	$	82	$	5	$	10	$	34	$	7	$	156
CRE	—		—		—		—		2		15		—		17
Consumer real estate	—		1		—		—		—		3		—		4
Credit card and other	12		1		—		—		—		2		7		22
Total	$	13	$	19	$	82	$	5	$	12	$	54	$	14	$	199