Allowance for Credit Losses on Loans and Leases (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Additional Information about Nonaccrual Loans

The following table presents additional information about the Company’s nonaccrual loans at December 31, 2022:

(in millions)	Recorded Investment		Related Allowance		Interest Income Recognized
Nonaccrual loans with no related allowance:
Multi-family	$	13	$	—	$	—
Commercial real estate		19		—		1
One-to-four family first mortgage		90		—		—
Acquisition, development, and construction		—		—		—
Other (includes C&I)		3		—		—
Total nonaccrual loans with no related allowance	$	125	$	—	$	1
Nonaccrual loans with an allowance recorded:
Multi-family	$	—	$	—	$	—
Commercial real estate		1		—		—
One-to-four family first mortgage		2		—		—
Acquisition, development, and construction		—		—		—
Other (includes C&I)		13		14		—
Total nonaccrual loans with an allowance recorded	$	16	$	14	$	—
Total nonaccrual loans:
Multi-family	$	13	$	—	$	—
Commercial real estate		20		—		1
One-to-four family first mortgage		92		—		—
Acquisition, development, and construction		—		—		—
Other (includes C&I)		16		14		—
Total nonaccrual loans	$	141	$	14	$	1

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 first mortgage		—		—		—
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 first mortgage		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 first mortgage		1		—		—
Acquisition, development, and construction		—		—		—
Other		6		—		—
Total nonaccrual loans	$	33	$	—	$	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,
	2022									2021
(in millions)	Mortgage			Other			Total			Mortgage			Other			Total
Balance, beginning of period	$	178		$	21		$	199		$	176		$	18		$	194
Adjustment for Purchased PCD Loans		21			30			51			—			—			—
Charge-offs		(5	)		(2	)		(7	)		(6	)		(7	)		(13	)
Recoveries		4			7			11			2			13			15
Provision for (recovery of) credit    losses on loans and leases		92			47			139			6			(3	)		3
Balance, end of period	$	290		$	103		$	393		$	178		$	21		$	199