XML 55 R40.htm IDEA: XBRL DOCUMENT
v3.22.4

Allowance for Credit Losses (Tables) | 12 Months Ended
--- | ---
Dec. 31, 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. The increase in the ACL is primarily related to the CIT Merger, loan growth, and deterioration in the economic outlook. ACL for Loans and Leases
dollars in millions | Year Ended December 31, 2022
| Commercial |  | Consumer |  | Total
Balance at December 31, 2021 | $ | 80 |  |  | $ | 98 |  |  | $ | 178 |
Initial PCD ACL(1) | 258 |  |  | 14 |  |  | 272 |
Day 2 provision for loans and leases | 432 |  |  | 22 |  |  | 454 |
Provision (benefit) for credit losses - loans and leases | 101 |  |  | (4) |  |  | 97 |
Total provision for credit losses- loans and leases | 533 |  |  | 18 |  |  | 551 |
Charge-offs(1) | (126) |  |  | (20) |  |  | (146) |
Recoveries | 44 |  |  | 23 |  |  | 67 |
Balance at December 31, 2022 | $ | 789 |  |  | $ | 133 |  |  | $ | 922 |
| Year Ended December 31, 2021
| Commercial |  | Consumer |  | Total
Balance at December 31, 2020 | $ | 92 |  |  | $ | 133 |  |  | $ | 225 |
(Benefit) for credit losses - loans and leases | (7) |  |  | (30) |  |  | (37) |
Charge-offs | (18) |  |  | (18) |  |  | (36) |
Recoveries | 13 |  |  | 13 |  |  | 26 |
Balance at December 31, 2021 | $ | 80 |  |  | $ | 98 |  |  | $ | 178 |
| Year Ended December 31, 2020
| Commercial |  | Consumer |  | Total
Balance at December 31, 2019 | $ | 150 |  |  | $ | 75 |  |  | $ | 225 |
Adoption of ASC 326 | (84) |  |  | 46 |  |  | (38) |
Balance after adoption of ASC 326 | 66 |  |  | 121 |  |  | 187 |
Provision for credit losses - loans and leases | 34 |  |  | 24 |  |  | 58 |
Initial balance on PCD loans | 1 |  |  | 1 |  |  | 2 |
Charge-offs | (20) |  |  | (25) |  |  | (45) |
Recoveries | 11 |  |  | 12 |  |  | 23 |
Balance at December 31, 2020 | $ | 92 |  |  | $ | 133 |  |  | $ | 225 |
(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 | Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Beginning balance | $ | 12 |  |  | $ | 13 |  |  | $ | 1 |
Adoption of ASC 326 | — |  |  | — |  |  | 9 |
Balance after adoption of ASC 326 | 12 |  |  | 13 |  |  | 10 |
Provision (benefit) for credit losses - unfunded commitments (1) | 94 |  |  | (1) |  |  | 3 |
Ending balance | $ | 106 |  |  | $ | 12 |  |  | $ | 13 |
(1) Includes the Day 2 provision for unfunded commitments of $59 million related to the CIT Merger.

X
- 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
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration