BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Borrowings

Long-term borrowings at September 30, 2024 and December 31, 2023 include:

Long-term Borrowings

dollars in millions	Maturity	September 30, 2024		December 31, 2023
Parent Company:
Subordinated:
Fixed-to-Floating subordinated notes at 3.375%	March 2030	$	351	$	350
Junior subordinated debentures (FCB/SC Capital Trust II)(1)	June 2034	—		20
Subsidiaries:
Senior:
Senior unsecured fixed-to-floating rate notes at 2.969%	September 2025(3)	—		316
Fixed senior unsecured notes at 6.00%	April 2036	51		51
Subordinated:
Fixed subordinated notes at 6.125%	March 2028	403		404
Fixed-to-Fixed subordinated notes at 4.125%	November 2029	100		100
Junior subordinated debentures (SCB Capital Trust I)(1)	April 2034	—		10
Secured:
Purchase Money Note to FDIC fixed at 3.50% (2)	March 2028	35,991		36,072
Capital lease obligations	Maturities through May 2057	8		9
Unamortized purchase accounting adjustments		(134)		(163)
Total long-term borrowings		$	36,770	$	37,169

(1)    The borrowings were called during the first quarter of 2024, resulting in a $2 million loss on extinguishment of debt for the nine months ended September 30, 2024.

(2) Issued in connection with the SVBB Acquisition and secured by collateral. Refer to Note 2—Business Combinations and Note 4—Loans and Leases.

(3) Included a callable feature one year prior to maturity and the debt was redeemed in September 2024.