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v3.22.2.2

Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2022
Receivables [Abstract] |
Schedule of Allowance for Credit Losses | The ACL activity for loans and leases and the ACL for unfunded commitments is summarized in the following tables. ACL for Loans and Leases
dollars in millions | Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
| Commercial |  | Consumer |  | Total |  | Commercial |  | Consumer |  | Total
Balance at beginning of period | $ | 740 |  |  | $ | 110 |  |  | $ | 850 |  |  | $ | 80 |  |  | $ | 98 |  |  | $ | 178 |
Initial PCD ACL(1) | — |  |  | — |  |  | — |  |  | 258 |  |  | 14 |  |  | 272 |
Initial Non-PCD Provision | — |  |  | — |  |  | — |  |  | 432 |  |  | 22 |  |  | 454 |
Provision (benefit) for credit losses - loans and leases | 43 |  |  | 7 |  |  | 50 |  |  | 53 |  |  | (20) |  |  | 33 |
Total provision for credit losses- loans and leases | 43 |  |  | 7 |  |  | 50 |  |  | 485 |  |  | 2 |  |  | 487 |
Charge-offs(1) | (28) |  |  | (5) |  |  | (33) |  |  | (92) |  |  | (15) |  |  | (107) |
Recoveries | 11 |  |  | 4 |  |  | 15 |  |  | 35 |  |  | 17 |  |  | 52 |
Balance at September 30, 2022 | $ | 766 |  |  | $ | 116 |  |  | $ | 882 |  |  | $ | 766 |  |  | $ | 116 |  |  | $ | 882 |
| Three Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2021
| Commercial |  | Consumer |  | Total |  | Commercial |  | Consumer |  | Total
Balance at beginning of period | $ | 86 |  |  | $ | 103 |  |  | $ | 189 |  |  | $ | 92 |  |  | $ | 133 |  |  | $ | 225 |
Provision (benefit) for credit losses - loans and leases | — |  |  | (1) |  |  | (1) |  |  | (3) |  |  | (29) |  |  | (32) |
Charge-offs | (7) |  |  | (4) |  |  | (11) |  |  | (14) |  |  | (13) |  |  | (27) |
Recoveries | 3 |  |  | 3 |  |  | 6 |  |  | 7 |  |  | 10 |  |  | 17 |
Balance at September 30, 2021 | $ | 82 |  |  | $ | 101 |  |  | $ | 183 |  |  | $ | 82 |  |  | $ | 101 |  |  | $ | 183 |
(1) The Initial PCD ACL related to the CIT Merger was $272 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
dollars in millions | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Beginning balance | $ | 81 |  |  | $ | 11 |  |  | $ | 12 |  |  | $ | 13 |
Provision (benefit) for credit losses - unfunded commitments | 10 |  |  | — |  |  | 79 |  |  | (2) |
Ending balance | $ | 91 |  |  | $ | 11 |  |  | $ | 91 |  |  | $ | 11 |

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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 https://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 https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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