ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

12 Months Ended

Dec. 31, 2024

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

NOTE 17 — ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

The following table details the components of AOCI:

Components of Accumulated Other Comprehensive (Loss) Income


dollars in millions	December 31, 2024						December 31, 2023
	Pretax		Income Taxes		Net of Income Taxes		Pretax		Income Taxes		Net of Income Taxes
Unrealized loss on securities available for sale	$	(762)	$	178	$	(584)	$	(752)	$	175	$	(577)
Unrealized loss on securities available for sale transferred to held to maturity	(6)		2		(4)		(7)		2		(5)
Defined benefit pension items	182		(47)		135		122		(31)		91

Unrealized gain on cash flow hedge derivatives	11		(3)		8		—		—		—
Total accumulated other comprehensive loss	$	(575)	$	130	$	(445)	$	(637)	$	146	$	(491)

The following table details the changes in the components of AOCI, net of income taxes:

Changes in Accumulated Other Comprehensive (Loss) Income by Component


dollars in millions	Unrealized loss on securities available for sale		Unrealized loss on securities available for sale transferred to held to maturity		Defined benefit pension items		Unrealized gain on cash flow hedge derivatives		Total accumulated other comprehensive loss
Balance as of December 31, 2023	$	(577)	$	(5)	$	91	$	—	$	(491)
AOCI activity before reclassifications	(7)		—		44		8		45
Amounts reclassified from AOCI to earnings	—		1		—		—		1
Other comprehensive (loss) income for the period	(7)		1		44		8		46
Balance as of December 31, 2024	$	(584)	$	(4)	$	135	$	8	$	(445)

Balance as of December, 31, 2022	$	(739)	$	(6)	$	10	$	—	$	(735)
AOCI activity before reclassifications	143		—		81		—		224
Amounts reclassified from AOCI to earnings	19		1		—		—		20
Other comprehensive income for the period	162		1		81		—		244
Balance as of December 31, 2023	$	(577)	$	(5)	$	91	$	—	$	(491)

Other Comprehensive Income

The amounts included in the Consolidated Statements of Comprehensive Income are net of income taxes. The following table presents the pretax and after tax components of other comprehensive income:

Other Comprehensive Income (Loss) by Component


dollars in millions	Year Ended December 31,
	2024						2023
	Pretax		Income Taxes		Net of Income Taxes		Pretax		Income Taxes		Net of Income Taxes		Income Statement Line Items
Unrealized loss on securities available for sale:
AOCI activity before reclassifications	$	(10)	$	3	$	(7)	$	194	$	(51)	$	143
Amounts reclassified from AOCI to earnings	—		—		—		26		(7)		19		Realized loss on sale of investment securities, net
Other comprehensive (loss) income on securities available for sale	$	(10)	$	3	$	(7)	$	220	$	(58)	$	162

Unrealized loss on securities available for sale transferred to held to maturity:

Amounts reclassified from AOCI to earnings	$	1	$	—	$	1	$	1	$	—	$	1	Interest on investment securities
Other comprehensive income on securities available for sale transferred to held to maturity	$	1	$	—	$	1	$	1	$	—	$	1

Defined benefit pension items:


Actuarial gain	$	60	$	(16)	$	44	$	109	$	(28)	$	81






Unrealized gain on cash flow hedge derivatives:
AOCI activity before reclassifications	$	11	$	(3)	$	8	$	—	$	—	$	—
Amounts reclassified from AOCI to earnings	—		—		—		—		—		—		Interest and fees on loans
Other comprehensive income on cash flow hedge derivatives	$	11	$	(3)	$	8	$	—	$	—	$	—
Total other comprehensive income	$	62	$	(16)	$	46	$	330	$	(86)	$	244