Allowance for Credit Losses on Loans and Leases (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Additional Information about Nonaccrual Loans

The following table presents additional information about the Company’s nonaccrual loans at December 31, 2021:

(in millions)	Recorded Investment		Related Allowance		Interest Income Recognized
Nonaccrual loans with no related allowance:
Multi-family	$	9	$	—	$	1
Commercial real estate		14		—		—
One-to-four family		—		—		—
Acquisition, development, and construction		—		—		—
Other		6		—		—
Total nonaccrual loans with no related allowance	$	29	$	—	$	1
Nonaccrual loans with an allowance recorded:
Multi-family	$	1	$	—	$	—
Commercial real estate		2		—		—
One-to-four family		1		—		—
Acquisition, development, and construction		—		—		—
Other		—		—		—
Total nonaccrual loans with an allowance recorded	$	4	$	—	$	—
Total nonaccrual loans:
Multi-family	$	10	$	—	$	1
Commercial real estate		16		—		—
One-to-four family		1		—		—
Acquisition, development, and construction		—		—		—
Other		6		—		—
Total nonaccrual loans	$	33	$	—	$	1

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

(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 loan and lease losses for the periods indicated:

	Twelve Months Ended December 31,
	2021									2020
(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		(6	)		(7	)		(13	)		(2	)		(20	)		(22	)
Recoveries		2			13			15			1			2			3
Provision for (recovery of) credit    losses on loans and leases		6			(3	)		3			54			9			63
Balance, end of period	$	178		$	21		$	199		$	176		$	18		$	194