Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of Allowance for Credit Losses

The activity for the ACL for loans and leases and the ACL for unfunded commitments is summarized in the following tables.

ACL for Loans and Leases

dollars in millions	Commercial		Consumer		Total
Balance at December 31, 2021	$	80	$	98	$	178
Initial PCD ACL(1)	270		14		284
Balance at Initial Non-PCD Provision	432		22		454
Benefit for credit losses - loans and leases	(23)		(30)		(53)
Balance at Total provision (benefit) for credit losses- loans and leases	409		(8)		401
Charge-offs(1)	(28)		(5)		(33)
Balance at Recoveries	12		6		18
Balance at Other	—		—		—
Balance at March 31, 2022	$	743	$	105	$	848
Balance at December 31, 2020	$	92	$	133	$	225
Benefit for credit losses - loans and leases	(3)		(8)		(11)
Charge-offs	(4)		(5)		(9)
Recoveries	2		4		6
Other	—		—		—
Balance at March 31, 2021	$	87	$	124	$	211

(1)     The Initial PCD ACL related to the CIT Merger was $284 million, net of an additional $243 million for loans that CIT charged-off prior to the Merger Date (whether full or partial) which met BancShares’ charge-off policy at the Merger Date.

ACL for Unfunded Commitments

	Three months ended March 31,
dollars in millions	2022		2021
Beginning balance	$	12	$	13
Provision (benefit) for credit losses - unfunded commitments	63		(1)
Ending balance	$	75	$	12