Allowance for Credit Losses on Loans and Leases (Tables)

6 Months Ended

Jun. 30, 2021

Summary of Additional Information about Nonaccrual Loans

The following table presents additional information about the Company’s nonaccrual loans at June 30, 2021:

(dollars in millions)	Recorded Investment		Related Allowance		Interest Income Recognized
Nonaccrual loans with no related allowance:
Multi-family	$	7	$	—	$	—
Commercial real estate		11		-		-
One-to-four family		-		-		-
Acquisition, development, and construction		-		-		-
Other		9		-		-
Total nonaccrual loans with no related allowance	$	27	$	—	$	—
Nonaccrual loans with an allowance recorded:
Multi-family	$	2	$	1	$	—
Commercial real estate		1		-		-
One-to-four family		2		-		-
Acquisition, development, and construction		-		-		-
Other		-		-		-
Total nonaccrual loans with an allowance recorded	$	5	$	1	$	—
Total nonaccrual loans:
Multi-family	$	9	$	1	$	—
Commercial real estate		12		-		-
One-to-four family		2		-		-
Acquisition, development, and construction		-		-		-
Other		9		-		-
Total nonaccrual loans	$	32	$	1	$	—

The following table presents additional information about the Company’s nonaccrual loans at December 31, 2020:

(dollars in millions)	Recorded Investment		Related Allowance		Interest Income Recognized
Nonaccrual loans with no related allowance:
Multi-family	$	—	$	—	$	—
Commercial real estate		2		—		—
One-to-four family		1		—		—
Acquisition, development, and construction		—		—		—
Other		20		—		1
Total nonaccrual loans with no related allowance	$	23	$	—	$	1
Nonaccrual loans with an allowance recorded:
Multi-family	$	4	$	1	$	—
Commercial real estate		10		—		—
One-to-four family		1		—		—
Acquisition, development, and construction		—		—		—
Other		—		—		—
Total nonaccrual loans with an allowance recorded	$	15	$	1	$	—
Total nonaccrual loans:
Multi-family	$	4	$	1	$	—
Commercial real estate		12		—		—
One-to-four family		2		—		—
Acquisition, development, and construction		—		—		—
Other		20		—		1
Total nonaccrual loans	$	38	$	1	$	1

Non-Covered Loans

Summary of Activity in Allowance for Loan and Lease Losses

The following table summarizes activity in the allowance for credit losses on loans and leases for the periods indicated:

	For the Six Months Ended June 30,
	2021									2020
(dollars in millions)	Mortgage			Other			Total			Mortgage		Other			Total
Balance, beginning of period	$	176		$	18		$	194		$	123	$	25		$	148
Impact of CECL adoption		—			—			—			—		2			2
Adjusted balance, beginning of period		176			18			194			123		27			150
Charge-offs		(2	)		(3	)		(5	)		—		(14	)		(14	)
Recoveries		2			10			12			—		—			—
Provision for credit losses		1			—			1			34		4			38
Balance, end of period	$	177		$	25		$	202		$	157	$	17		$	174