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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Investments [Abstract]  
Schedule of Amortized Cost and Fair Value of Investment Securities
The following tables include the amortized cost and fair value of investment securities at September 30, 2023 and December 31, 2022.

Amortized Cost and Fair Value - Investment Securities
dollars in millions September 30, 2023
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Investment securities available for sale
U.S. Treasury$8,765 $— $(118)$8,647 
Government agency132 — (3)129 
Residential mortgage-backed securities6,352 — (752)5,600 
Commercial mortgage-backed securities2,042 — (245)1,797 
Corporate bonds535 — (57)478 
Municipal bonds10 — — 10 
Total investment securities available for sale$17,836 $— $(1,175)$16,661 
Investment in marketable equity securities$75 $11 $(11)$75 
Investment securities held to maturity
U.S. Treasury$478 $— $(53)$425 
Government agency1,504 — (196)1,308 
Residential mortgage-backed securities4,296 — (866)3,430 
Commercial mortgage-backed securities3,505 — (769)2,736 
Supranational securities297 — (46)251 
Other2 — — 2 
Total investment securities held to maturity$10,082 $— $(1,930)$8,152 
Total investment securities$27,993 $11 $(3,116)$24,888 
December 31, 2022
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Investment securities available for sale
U.S. Treasury$2,035 $— $(137)$1,898 
Government agency164 — (2)162 
Residential mortgage-backed securities5,424 1 (630)4,795 
Commercial mortgage-backed securities1,774 — (170)1,604 
Corporate bonds570 — (34)536 
Total investment securities available for sale$9,967 $1 $(973)$8,995 
Investment in marketable equity securities$75 $21 $(1)$95 
Investment securities held to maturity
U.S. Treasury$474 $— $(50)$424 
Government agency1,548 — (186)1,362 
Residential mortgage-backed securities4,605 — (723)3,882 
Commercial mortgage-backed securities3,355 — (484)2,871 
Supranational securities295 — (41)254 
Other2 — — 2 
Total investment securities held to maturity$10,279 $— $(1,484)$8,795 
Total investment securities$20,321 $22 $(2,458)$17,885 
Schedule of Investment Securities Maturity Information
The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Residential and commercial mortgage-backed and government agency securities are stated separately as they are not due at a single maturity date.

Maturities - Debt Securities
dollars in millionsSeptember 30, 2023December 31, 2022
CostFair ValueCostFair Value
Investment securities available for sale
Non-amortizing securities maturing in:
One year or less$4,829 $4,802 $37 $37 
After one through five years4,036 3,937 2,068 1,928 
After five through 10 years419 374 483 455 
After 10 years26 22 17 14 
Government agency132 129 164 162 
Residential mortgage-backed securities6,352 5,600 5,424 4,795 
Commercial mortgage-backed securities2,042 1,797 1,774 1,604 
Total investment securities available for sale$17,836 $16,661 $9,967 $8,995 
Investment securities held to maturity
Non-amortizing securities maturing in:
One year or less$2 $2 $51 $51 
After one through five years1,609 1,440 1,479 1,328 
After five through 10 years670 544 789 663 
Residential mortgage-backed securities4,296 3,430 4,605 3,882 
Commercial mortgage-backed securities3,505 2,736 3,355 2,871 
Total investment securities held to maturity$10,082 $8,152 $10,279 $8,795 
Schedule of Interest and Dividends on Investment Securities
The following table presents interest and dividend income on investment securities:

Interest and Dividends on Investment Securities
dollars in millionsThree Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Interest income - taxable investment securities$178 $89 $402 $260 
Interest income - nontaxable investment securities2 — 4 — 
Dividend income - marketable equity securities— 1 1 2 
Interest on investment securities$180 $90 $407 $262 
Schedule of Realized Gain (Loss)
The following table presents the gross realized losses on the sales of investment securities available for sale, including the current quarter loss on sale of municipal bonds that were acquired in the SVBB Acquisition.

Realized Losses on Debt Securities Available For Sale
dollars in millionsThree Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Gross realized gains on sales of investment securities available for sale$— $— $— $— 
Gross realized losses on sales of investment securities available for sale(12)— (26)— 
Net realized losses on sales of investment securities available for sale$(12)$— $(26)$— 

The following table provides the fair value adjustment on marketable equity securities:

Fair Value Adjustment on Marketable Equity Securities
dollars in millionsThree Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Fair value adjustment on marketable equity securities, net$(1)$(2)$(20)$(5)
Schedule of Unrealized Loss on Available-for-sale Securities
The following table provides information regarding investment securities available for sale with unrealized losses:

Gross Unrealized Losses on Debt Securities Available For Sale
dollars in millionsSeptember 30, 2023
Less than 12 months12 months or moreTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Investment securities available for sale
U.S. Treasury$6,322 $(6)$1,887 $(112)$8,209 $(118)
Government agency26 — 103 (3)129 (3)
Residential mortgage-backed securities1,465 (28)4,030 (724)5,495 (752)
Commercial mortgage-backed securities331 (3)1,364 (242)1,695 (245)
Corporate bonds96 (12)382 (45)478 (57)
Total$8,240 $(49)$7,766 $(1,126)$16,006 $(1,175)
December 31, 2022
Less than 12 months12 months or moreTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Investment securities available for sale
U.S. Treasury$403 $(27)$1,495 $(110)$1,898 $(137)
Government agency65 (1)62 (1)127 (2)
Residential mortgage-backed securities1,698 (165)3,001 (465)4,699 (630)
Commercial mortgage-backed securities836 (53)752 (117)1,588 (170)
Corporate bonds499 (30)37 (4)536 (34)
Total$3,501 $(276)$5,347 $(697)$8,848 $(973)