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Consolidated Statements of Condition - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
ASSETS:    
Cash, cash equivalents and due from banks $ 3,277 $ 2,211
Securities:    
Debt securities available-for-sale ($1,101 and $1,168 pledged at June 30, 2022 and December 31, 2021, respectively) 5,664 5,780
Equity investments with readily determinable fair values, at fair value 14 16
Total securities 5,678 [1] 5,796 [2]
Loans and leases held for investment, net of deferred loan fees and costs 48,537 45,738
Less: Allowance for credit losses on loans and leases (216) (199)
Total loans and leases, net 48,321 45,539
Federal Home Loan Bank stock, at cost 635 [3] 734 [4]
Premises and equipment, net 252 270
Operating lease right-of-use assets 232 249
Goodwill 2,426 2,426
Bank-owned life insurance 1,192 1,184
Other real estate owned and other repossessed assets 6 8
Other assets 1,074 1,110
Total assets 63,093 59,527
Deposits:    
Interest-bearing checking and money market accounts 19,189 13,209
Savings accounts 9,580 8,892
Certificates of deposit 8,090 8,424
Non-interest-bearing accounts 4,385 4,534
Total deposits 41,244 35,059
Wholesale borrowings:    
Federal Home Loan Bank advances 12,850 15,105
Repurchase agreements 800 800
Total wholesale borrowings 13,650 15,905
Junior subordinated debentures 361 361
Subordinated notes 296 296
Total borrowed funds 14,307 16,562
Operating lease liabilities 232 249
Other liabilities 486 613
Total liabilities 56,269 52,483
Stockholders’ equity:    
Preferred stock at par $0.01 (5,000,000 shares authorized): Series A (515,000 shares issued and outstanding) 503 503
Common stock at par $0.01 (900,000,000 shares authorized; 490,439,070 and 490,439,070 shares issued; and 466,243,078 and 465,015,643 shares outstanding, respectively) 5 5
Paid-in capital in excess of par 6,114 6,126
Retained earnings 893 741
Treasury stock, at cost (24,195,992 and 25,423,427 shares, respectively) (238) (246)
Accumulated other comprehensive loss, net of tax:    
Net unrealized loss on securities available for sale, net of tax of $167 and $17, respectively (436) (45)
Net unrealized loss on pension and post-retirement obligations, net of tax of $12 and $12 respectively (31) (31)
Net unrealized gain (loss) on cash flow hedges, net of tax of $(6) and $3, respectively 14 9
Total accumulated other comprehensive loss, net of tax (453) (85)
Total stockholders’ equity 6,824 7,044
Total liabilities and stockholders’ equity $ 63,093 $ 59,527
[1] Excludes accrued interest receivable of $18 million included in other assets in the Consolidated Statements of Condition.
[2] Excludes accrued interest receivable of $15 million included in other assets in the Consolidated Statements of Condition.
[3] Carrying value and estimated fair value are at cost.
[4] Carrying value and estimated fair value are at cost.