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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Statements of Balance Sheets | Following are statements of the parent company: Parent Company Balance Sheets
Balance Sheets |  | December 31,
(Dollars in millions) |  | 2021 |  | 2020
Assets: |  |  |  |
Cash |  | $ | 724 |  |  | $ | 827 |
Notes receivable |  | 3 |  |  | 3 |
Investments in subsidiaries: |  |  |  |
Bank |  | 8,381 |  |  | 8,176 |
Non-bank |  | 65 |  |  | 88 |
Other assets |  | 291 |  |  | 274 |
Total assets |  | $ | 9,464 |  |  | $ | 9,368 |
Liabilities and equity: |  |  |  |
Accrued employee benefits and other liabilities |  | $ | 321 |  |  | $ | 322 |
Term borrowings |  | 944 |  |  | 1,034 |
Total liabilities |  | 1,265 |  |  | 1,356 |
Total equity |  | 8,199 |  |  | 8,012 |
Total liabilities and equity |  | $ | 9,464 |  |  | $ | 9,368 |
Statements of Income |
|  | Year Ended December 31,
(Dollars in millions) |  | 2021 |  | 2020 |  | 2019
Dividend income: |  |  |  |  |  |
Bank |  | $ | 770 |  |  | $ | 180 |  |  | $ | 345 |
Non-bank |  | — |  |  | — |  |  | 1 |
Total dividend income |  | 770 |  |  | 180 |  |  | 346 |
Other income (loss) |  | (26) |  |  | — |  |  | 1 |
Total income |  | 744 |  |  | 180 |  |  | 347 |
Provision (provision credit) for credit losses |  | — |  |  | — |  |  | (1) |
Interest expense - term borrowings |  | 31 |  |  | 39 |  |  | 31 |
Personnel and other expense |  | 89 |  |  | 54 |  |  | 53 |
Total expense |  | 120 |  |  | 93 |  |  | 83 |
Income before income taxes |  | 624 |  |  | 87 |  |  | 264 |
Income tax benefit |  | (35) |  |  | (18) |  |  | (19) |
Income before equity in undistributed net income of subsidiaries |  | 659 |  |  | 105 |  |  | 283 |
Equity in undistributed net income (loss) of subsidiaries: |  |  |  |  |  |
Bank |  | 332 |  |  | 736 |  |  | 160 |
Non-bank |  | 8 |  |  | 4 |  |  | (2) |
Net income attributable to the controlling interest |  | $ | 999 |  |  | $ | 845 |  |  | $ | 441 |
Statements of Cash Flows |
(Dollars in millions) |  | 2021 |  | 2020 |  | 2019
Operating activities: |  |  |  |  |  |
Net income |  | $ | 999 |  |  | $ | 845 |  |  | $ | 441 |
Less undistributed net income of subsidiaries |  | 340 |  |  | 740 |  |  | 158 |
Income before undistributed net income of subsidiaries |  | 659 |  |  | 105 |  |  | 283 |
Adjustments to reconcile income to net cash provided by operating activities: |  |  |  |  |  |
Depreciation, amortization, and other |  | — |  |  | — |  |  | (1) |
(Gain) loss on derivative transactions |  | — |  |  | 4 |  |  | — |
Deferred income tax expense |  | 8 |  |  | 5 |  |  | 4 |
Stock-based compensation expense |  | 43 |  |  | 32 |  |  | 22 |
Loss on extinguishment of debt |  | 26 |  |  | — |  |  | — |
Other operating activities, net |  | (11) |  |  | 21 |  |  | 28 |
Total adjustments |  | 66 |  |  | 62 |  |  | 53 |
Net cash provided by operating activities |  | 725 |  |  | 167 |  |  | 336 |
Investing activities: |  |  |  |  |  |
Proceeds from sales and prepayments of securities |  | 3 |  |  | — |  |  | 1 |
Purchases of securities |  | (10) |  |  | (5) |  |  | — |
(Investment in) return on subsidiary |  | 8 |  |  | (2) |  |  | — |
Cash received for business combination, net |  | — |  |  | 103 |  |  | — |
Net cash provided by (used in) investing activities |  | 1 |  |  | 96 |  |  | 1 |
Financing activities: |  |  |  |  |  |
Proceeds from issuance of preferred stock |  | 145 |  |  | 144 |  |  | — |
Call of preferred stock |  | (100) |  |  | — |  |  | — |
Cash dividends paid - preferred stock |  | (33) |  |  | (17) |  |  | (6) |
Common stock: |  |  |  |  |  |
Stock options exercised |  | 28 |  |  | 7 |  |  | 9 |
Cash dividends paid |  | (333) |  |  | (222) |  |  | (171) |
Repurchase of shares |  | (416) |  |  | (4) |  |  | (134) |
Proceeds from issuance of term borrowings |  | — |  |  | 795 |  |  | — |
Repayment of term borrowings |  | (120) |  |  | (500) |  |  | — |
Other financing activities, net |  | — |  |  | (8) |  |  | — |
Net cash provided by (used in) financing activities |  | (829) |  |  | 195 |  |  | (302) |
Net increase (decrease) in cash and cash equivalents |  | (103) |  |  | 458 |  |  | 35 |
Cash and cash equivalents at beginning of year |  | 827 |  |  | 369 |  |  | 334 |
Cash and cash equivalents at end of year |  | $ | 724 |  |  | $ | 827 |  |  | $ | 369 |
Total interest paid |  | $ | 35 |  |  | $ | 33 |  |  | $ | 29 |
Income taxes received from subsidiaries |  | 28 |  |  | 33 |  |  | 43 |

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