Borrowings (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Short-term Borrowings

Short-term borrowings at June 30, 2023 and December 31, 2022 include:

dollars in millions	June 30, 2023		December 31, 2022
Securities sold under customer repurchase agreements	$	454	$	436
Notes payable to FHLB of Atlanta at overnight SOFR plus 0.28%.	—		1,750
Total short-term borrowings	$	454	$	2,186

Schedule of Long-term Borrowings

Long-term borrowings at June 30, 2023 and December 31, 2022 include:

Long-term Borrowings

dollars in millions	Maturity	June 30, 2023		December 31, 2022
Parent Company:
Senior:
Senior unsecured fixed line of credit at 3.722%	September 2023	$	15	$	—
Subordinated:
Fixed-to-Floating subordinated notes at 3.375%	March 2030	350		350
Junior subordinated debentures at 3-month LIBOR plus 2.25% (FCB/SC Capital Trust II)	June 2034	20		20
Junior subordinated debentures at 3-month LIBOR plus 1.75% (FCB/NC Capital Trust III)	June 2036	88		88
Subsidiaries:
Senior:
Senior unsecured fixed-to-floating rate notes at 3.929%	June 2024	—		500
Senior unsecured fixed-to-floating rate notes at 2.969%	September 2025	315		315
Fixed senior unsecured notes at 6.00%	April 2036	51		51
Subordinated:
Fixed subordinated notes at 6.125%	March 2028	400		400
Fixed-to-Fixed subordinated notes at 4.125%	November 2029	100		100
Junior subordinated debentures at 3-month LIBOR plus 2.80% (Macon Capital Trust I)	March 2034	14		14
Junior subordinated debentures at 3-month LIBOR plus 2.85% (SCB Capital Trust I)	April 2034	10		10
Secured:
Notes payable to FHLB of Atlanta at overnight SOFR plus spreads ranging from 0.32% to 0.36%.	Maturities through September 2025	2,425		2,500
Purchase Money Note to FDIC fixed at 3.50% (1)	March 2028	36,072		—
Other secured financings	Maturities through January 2024	—		18
Capital lease obligations	Maturities through June 2027	6		7
Unamortized issuance costs		(1)		(1)
Unamortized purchase accounting adjustments (2)		(180)		87
Total long-term borrowings		$	39,685	$	4,459

(1)    Issued in connection with the SVBB Acquisition and will be secured by acquired loans. See below and Note 2 — Business Combinations for further information.

(2)    At June 30, 2023 and December 31, 2022, unamortized purchase accounting adjustments were $62 million and $69 million, respectively, for subordinated debentures.