Allowance for Credit Losses on Loans and Leases (Tables)

12 Months Ended

Dec. 31, 2024

Credit Loss [Abstract]

Schedule of Additional Information about Nonaccrual Loans

The following table summarizes activity in the allowance for credit losses for the periods indicated:

	Multi- Family		Commercial Real Estate		One-to-Four Family First Mortgage		Acquisition, Development, and Construction		Other		Total
Year Ended December 31, 2024	(in millions)
Balance, beginning of period	$	307	$	366	$	47	$	36	$	236	$	992
Charge-offs	(308)		(462)		(8)		(4)		(156)		(938)
Recoveries	5		8		5		—		28		46
Provision for (recovery of) credit losses on loans and leases	635		348		(5)		12		111		1,101
Balance, end of period	$	639	$	260	$	39	$	44	$	219	$	1,201
Year Ended December 31, 2023
Balance, beginning of period	$	178	$	47	$	46	$	20	$	102	$	393
Adjustment for Purchased PCD Loans	—		—		—		—		13		13
Charge-offs	(119)		(56)		(4)		—		(44)		(223)
Recoveries	—		—		—		—		15		15
Provision for (recovery of) credit losses on loans and leases	248		375		5		16		150		794
Balance, end of period	$	307	$	366	$	47	$	36	$	236	$	992
Balance at December 31, 2022
Balance, beginning of period	$	159	$	17	$	—	$	3	$	20	$	199
Adjustment for Purchased PCD Loans	9		18		17		7		—		51
Charge-offs	(1)		(4)		—		—		(2)		(7)
Recoveries	—		4		—		—		7		11
Provision for (recovery of) credit losses on loans and leases	11		12		29		10		77		139
Balance, end of period	$	178	$	47	$	46	$	20	$	102	$	393

The following table presents additional information about the Company’s non-accrual loans at December 31, 2024:

(in millions)	Recorded Investment		Related Allowance
Non-accrual loans with no related allowance:
Multi-family	$	1,092	$	—
Commercial real estate	418		—
One-to-four family first mortgage	61		—
Acquisition, development, and construction	11		—
Other (includes commercial and industrial)	54		—
Total non-accrual loans with no related allowance	$	1,636	$	—
Non-accrual loans with an allowance recorded:
Multi-family	$	663	$	77
Commercial real estate	128		28
One-to-four family first mortgage	9		1
Acquisition, development, and construction	7		3
Other (includes commercial and industrial)	172		55
Total non-accrual loans with an allowance recorded	$	979	$	164
Total non-accrual loans:
Multi-family	$	1,755	$	77
Commercial real estate	546		28
One-to-four family first mortgage	70		1
Acquisition, development, and construction	18		3
Other (includes commercial and industrial)	226		55
Total non-accrual loans	$	2,615	$	164

The following table presents additional information about the Company’s non-accrual loans at December 31, 2023:

(in millions)	Recorded Investment		Related Allowance
Non-accrual loans with no related allowance:
Multi-family	$	134	$	—
Commercial real estate	53		—
One-to-four family first mortgage	85		—
Acquisition, development, and construction	—		—
Other (includes commercial and industrial)	22		—
Total non-accrual loans with no related allowance	$	294	$	—
Non-accrual loans with an allowance recorded:
Multi-family	$	4	$	—
Commercial real estate	75		17
One-to-four family first mortgage	11		2
Acquisition, development, and construction	—		—
Other (includes commercial and industrial)	44		28
Total non-accrual loans with an allowance recorded	$	134	$	47
Total non-accrual loans:
Multi-family	$	138	$	—
Commercial real estate	128		17
One-to-four family first mortgage	96		2
Acquisition, development, and construction	—		—
Other (includes commercial and industrial)	66		28
Total non-accrual loans	$	428	$	47