Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Short-term Borrowings

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

dollars in millions	December 31, 2023		December 31, 2022
Securities sold under customer repurchase agreements	$	485	$	436
Notes payable to FHLB of Atlanta at overnight SOFR plus spreads ranging from 0.19% to 0.20%.	—		1,750
Total short-term borrowings	$	485	$	2,186

Schedule of Long-term Borrowings

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

Long-term Borrowings

dollars in millions	Maturity	December 31, 2023		December 31, 2022
Parent Company:
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) (2)	June 2034	20		20
Junior subordinated debentures at 3-month LIBOR plus 1.75% (FCB/NC Capital Trust III)	June 2036	—		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	316		315
Fixed senior unsecured notes at 6.00%	April 2036	51		51
Subordinated:
Fixed subordinated notes at 6.125%	March 2028	404		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
Junior subordinated debentures at 3-month LIBOR plus 2.85% (SCB Capital Trust I) (2)	April 2034	10		10
Secured:
Notes payable to FHLB of Atlanta at overnight SOFR plus spreads ranging from 0.24% to 0.34%	Maturities through September 2025	—		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 May 2057	9		7
Unamortized issuance costs		—		(1)
Unamortized purchase accounting adjustments		(163)		87
Total long-term borrowings		$	37,169	$	4,459

(1)    Issued in connection with the SVBB Acquisition and secured by collateral as discussed below and in Note 2—Business Combinations.

(2)    As of December 31, 2023, debt holders had received notice of the debt calls, but funds to settle the calls had not been disbursed.

Schedule of Maturities of Long-term Debt

Contractual maturities of long-term borrowings (borrowings with original maturities of more than one year) at December 31, 2023 are included in the following table.

Long-term Borrowings Maturities

dollars in millions
Year Ended December 31, (1)
2024	$	(34)
2025	282
2026	(38)
2027	(37)
2028	36,461
Thereafter	535
Total long-term borrowings	$	37,169

(1)    Amounts in this table include amortization and accretion of purchase accounting adjustments based on the scheduled periods of recognition.