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v3.22.1

Allowance for Credit Losses (Tables) | 3 Months Ended
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Mar. 31, 2022
Receivables [Abstract] |
Schedule of Allowance for Credit Losses | The activity for the ACL for loans and leases and the ACL for unfunded commitments is summarized in the following tables. ACL for Loans and Leases
dollars in millions | Commercial |  | Consumer |  | Total
Balance at December 31, 2021 | $ | 80 |  |  | $ | 98 |  |  | $ | 178 |
Initial PCD ACL(1) | 270 |  |  | 14 |  |  | 284 |
Balance at Initial Non-PCD Provision | 432 |  |  | 22 |  |  | 454 |
Benefit for credit losses - loans and leases | (23) |  |  | (30) |  |  | (53) |
Balance at Total provision (benefit) for credit losses- loans and leases | 409 |  |  | (8) |  |  | 401 |
Charge-offs(1) | (28) |  |  | (5) |  |  | (33) |
Balance at Recoveries | 12 |  |  | 6 |  |  | 18 |
Balance at Other | — |  |  | — |  |  | — |
Balance at March 31, 2022 | $ | 743 |  |  | $ | 105 |  |  | $ | 848 |
Balance at December 31, 2020 | $ | 92 |  |  | $ | 133 |  |  | $ | 225 |
Benefit for credit losses - loans and leases | (3) |  |  | (8) |  |  | (11) |
Charge-offs | (4) |  |  | (5) |  |  | (9) |
Recoveries | 2 |  |  | 4 |  |  | 6 |
Other | — |  |  | — |  |  | — |
Balance at March 31, 2021 | $ | 87 |  |  | $ | 124 |  |  | $ | 211 |
(1) The Initial PCD ACL related to the CIT Merger was $284 million, net of an additional $243 million for loans that CIT charged-off prior to the Merger Date (whether full or partial) which met BancShares’ charge-off policy at the Merger Date. ACL for Unfunded Commitments
| Three months ended March 31,
dollars in millions | 2022 |  | 2021
Beginning balance | $ | 12 |  |  | $ | 13 |
Provision (benefit) for credit losses - unfunded commitments | 63 |  |  | (1) |
Ending balance | $ | 75 |  |  | $ | 12 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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- References No definition available. + Details
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