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Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2022
Investments [Abstract] |
Schedule of Amortized Cost and Fair Value of Investment Securities | The following tables as of June 30, 2022 include the investment security balances acquired in the CIT Merger, which were recorded at fair value on the acquisition date. The amortized cost and fair value of investment securities at June 30, 2022 and December 31, 2021, were as follows: Amortized Cost and Fair Value - Debt Securities
| June 30, 2022
dollars in millions | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Investment securities available for sale |  |  |  |  |  |  |
U.S. Treasury | $ | 2,005 |  |  | $ | — |  |  | $ | (102) |  |  | $ | 1,903 |
Government agency | 191 |  |  | 1 |  |  | (2) |  |  | 190 |
Residential mortgage-backed securities | 5,448 |  |  | 1 |  |  | (429) |  |  | 5,020 |
Commercial mortgage-backed securities | 1,632 |  |  | 2 |  |  | (107) |  |  | 1,527 |
Corporate bonds | 581 |  |  | 2 |  |  | (13) |  |  | 570 |
Total investment securities available for sale | $ | 9,857 |  |  | $ | 6 |  |  | $ | (653) |  |  | $ | 9,210 |
Investment in marketable equity securities | $ | 73 |  |  | $ | 21 |  |  | $ | — |  |  | $ | 94 |
Investment securities held to maturity |  |  |  |  |  |  |
U.S. Treasury | $ | 472 |  |  | $ | — |  |  | $ | (35) |  |  | $ | 437 |
Government agency | 1,544 |  |  | — |  |  | (120) |  |  | 1,424 |
Residential mortgage-backed securities | 4,633 |  |  | — |  |  | (514) |  |  | 4,119 |
Commercial mortgage-backed securities | 2,886 |  |  | — |  |  | (323) |  |  | 2,563 |
Supranational securities | 294 |  |  | — |  |  | (28) |  |  | 266 |
Other | 3 |  |  | — |  |  | — |  |  | 3 |
Total investment securities held to maturity | $ | 9,832 |  |  | $ | — |  |  | $ | (1,020) |  |  | $ | 8,812 |
Total investment securities | $ | 19,762 |  |  | $ | 27 |  |  | $ | (1,673) |  |  | $ | 18,116 |
| December 31, 2021
dollars in millions | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Investment securities available for sale |  |  |  |  |  |  |
U.S. Treasury | $ | 2,007 |  |  | $ | — |  |  | $ | (2) |  |  | $ | 2,005 |
Government agency | 221 |  |  | 1 |  |  | (1) |  |  | 221 |
Residential mortgage-backed securities | 4,757 |  |  | 8 |  |  | (36) |  |  | 4,729 |
Commercial mortgage-backed securities | 1,648 |  |  | 9 |  |  | (17) |  |  | 1,640 |
Corporate bonds | 582 |  |  | 27 |  |  | (1) |  |  | 608 |
Total investment securities available for sale | $ | 9,215 |  |  | $ | 45 |  |  | $ | (57) |  |  | $ | 9,203 |
Investment in marketable equity securities | $ | 73 |  |  | $ | 25 |  |  | $ | — |  |  | $ | 98 |
Investment securities held to maturity |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 2,322 |  |  | $ | 6 |  |  | $ | (22) |  |  | $ | 2,306 |
Commercial mortgage-backed securities | 1,485 |  |  | — |  |  | (34) |  |  | 1,451 |
Other | 2 |  |  | — |  |  | — |  |  | 2 |
Total investment securities held to maturity | $ | 3,809 |  |  | $ | 6 |  |  | $ | (56) |  |  | $ | 3,759 |
Total investment securities | $ | 13,097 |  |  | $ | 76 |  |  | $ | (113) |  |  | $ | 13,060 |
Schedule of Investment Securities Maturity Information | The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Residential and commercial mortgage-backed and government agency securities are stated separately as they are not due at a single maturity date. Maturities - Debt Securities
| June 30, 2022 |  | December 31, 2021
dollars in millions | Cost |  | Fair Value |  | Cost |  | Fair Value
Investment securities available for sale |  |  |  |  |  |  |
Non-amortizing securities maturing in: |  |  |  |  |  |  |
One year or less | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
After one through five years | 2,054 |  |  | 1,951 |  |  | 2,049 |  |  | 2,048 |
After five through 10 years | 515 |  |  | 506 |  |  | 523 |  |  | 548 |
After 10 years | 17 |  |  | 16 |  |  | 17 |  |  | 17 |
Government agency | 191 |  |  | 190 |  |  | 221 |  |  | 221 |
Residential mortgage-backed securities | 5,448 |  |  | 5,020 |  |  | 4,757 |  |  | 4,729 |
Commercial mortgage-backed securities | 1,632 |  |  | 1,527 |  |  | 1,648 |  |  | 1,640 |
Total investment securities available for sale | $ | 9,857 |  |  | $ | 9,210 |  |  | $ | 9,215 |  |  | $ | 9,203 |
Investment securities held to maturity |  |  |  |  |  |  |
Non-amortizing securities maturing in: |  |  |  |  |  |  |
One year or less | $ | 53 |  |  | $ | 52 |  |  | $ | 2 |  |  | $ | 2 |
After one through five years | 920 |  |  | 863 |  |  | — |  |  | — |
After five through 10 years | 1,340 |  |  | 1,215 |  |  | — |  |  | — |
Residential mortgage-backed securities | 4,633 |  |  | 4,119 |  |  | 2,322 |  |  | 2,306 |
Commercial mortgage-backed securities | 2,886 |  |  | 2,563 |  |  | 1,485 |  |  | 1,451 |
Total investment securities held to maturity | $ | 9,832 |  |  | $ | 8,812 |  |  | $ | 3,809 |  |  | $ | 3,759 |
Schedule of Interest and Dividends on Investment Securities | T he following table presents interest and dividend income on investment securities. Interest and Dividends on Investment Securities
| Three Months Ended June 30, |  | Six Months Ended June 30,
dollars in millions | 2022 |  | 2021 |  | 2022 |  | 2021
Interest income - taxable investment securities | $ | 89 |  |  | $ | 36 |  |  | $ | 171 |  |  | $ | 65 |
Dividend income - marketable equity securities | — |  |  | — |  |  | 1 |  |  | 1 |
Interest on investment securities | $ | 89 |  |  | $ | 36 |  |  | $ | 172 |  |  | $ | 66 |
Schedule of Realized Gain (Loss) | The following table provides the gross realized gains and losses on the sales of investment securities available for sale: Realized Gains on Debt Securities Available For Sale
| Three Months Ended June 30, |  | Six Months Ended June 30,
dollars in millions | 2022 |  | 2021 |  | 2022 |  | 2021
Gross realized gains on sales of investment securities available for sale | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | 25 |
Gross realized losses on sales of investment securities available for sale | — |  |  | — |  |  | — |  |  | — |
Net realized gains on sales of investment securities available for sale | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | 25 |
The following table provides the fair value adjustment on marketable equity securities: Fair Value Adjustment on Marketable Equity Securities
| Three Months Ended June 30, |  | Six Months Ended June 30,
dollars in millions | 2022 |  | 2021 |  | 2022 |  | 2021
Fair value adjustment on marketable equity securities, net | $ | (6) |  |  | $ | 12 |  |  | $ | (3) |  |  | $ | 28 |
Schedule of Unrealized Loss on Available-for-sale Securities | The following table provides information regarding investment securities available for sale with unrealized losses for which an ACL has not been recorded: Gross Unrealized Losses on Debt Securities Available For Sale
| June 30, 2022
| Less than 12 months |  | 12 months or more |  | Total
dollars in millions | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Investment securities available for sale |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 1,903 |  |  | $ | (102) |  |  | $ | — |  |  | $ | — |  |  | $ | 1,903 |  |  | $ | (102) |
Government agency | 47 |  |  | (1) |  |  | 69 |  |  | (1) |  |  | 116 |  |  | (2) |
Residential mortgage-backed securities | 4,162 |  |  | (362) |  |  | 619 |  |  | (67) |  |  | 4,781 |  |  | (429) |
Commercial mortgage-backed securities | 749 |  |  | (72) |  |  | 457 |  |  | (35) |  |  | 1,206 |  |  | (107) |
Corporate bonds | 385 |  |  | (13) |  |  | — |  |  | — |  |  | 385 |  |  | (13) |
Total | $ | 7,246 |  |  | $ | (550) |  |  | $ | 1,145 |  |  | $ | (103) |  |  | $ | 8,391 |  |  | $ | (653) |
| December 31, 2021
| Less than 12 months |  | 12 months or more |  | Total
dollars in millions | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Investment securities available for sale |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 1,811 |  |  | $ | (2) |  |  | $ | — |  |  | $ | — |  |  | $ | 1,811 |  |  | $ | (2) |
Government agency | 17 |  |  | — |  |  | 79 |  |  | (1) |  |  | 96 |  |  | (1) |
Residential mortgage-backed securities | 3,992 |  |  | (36) |  |  | 1 |  |  | — |  |  | 3,993 |  |  | (36) |
Commercial mortgage-backed securities | 852 |  |  | (15) |  |  | 111 |  |  | (2) |  |  | 963 |  |  | (17) |
Corporate bonds | 52 |  |  | (1) |  |  | — |  |  | — |  |  | 52 |  |  | (1) |
Total | $ | 6,724 |  |  | $ | (54) |  |  | $ | 191 |  |  | $ | (3) |  |  | $ | 6,915 |  |  | $ | (57) |

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