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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Parent Company Statements of Balance Sheets | Following are statements of the parent company: Parent Company Balance Sheets
Balance Sheets |  | December 31,
(Dollars in millions) |  | 2023 |  | 2022
Assets: |  |  |  |
Cash |  | $ | 854 |  |  | $ | 1,335 |
Notes receivable |  | 3 |  |  | 3 |
Investments in subsidiaries: |  |  |  |
Bank |  | 8,658 |  |  | 7,861 |
Non-bank |  | 49 |  |  | 42 |
Other assets |  | 256 |  |  | 251 |
Total assets |  | $ | 9,820 |  |  | $ | 9,492 |
Liabilities and equity: |  |  |  |
Accrued employee benefits and other liabilities |  | $ | 324 |  |  | $ | 293 |
Term borrowings |  | 500 |  |  | 948 |
Total liabilities |  | 824 |  |  | 1,241 |
Total equity |  | 8,996 |  |  | 8,251 |
Total liabilities and equity |  | $ | 9,820 |  |  | $ | 9,492 |
Parent Company Statements of Income |
|  | Year Ended December 31,
(Dollars in millions) |  | 2023 |  | 2022 |  | 2021
Dividend income: |  |  |  |  |  |
Bank |  | $ | 220 |  |  | $ | 435 |  |  | $ | 770 |
Non-bank |  | — |  |  | 16 |  |  | — |
Total dividend income |  | 220 |  |  | 451 |  |  | 770 |
Other income (loss) |  | 226 |  |  | 22 |  |  | (26) |
Total income |  | 446 |  |  | 473 |  |  | 744 |
Interest expense - term borrowings |  | 21 |  |  | 31 |  |  | 31 |
Personnel and other expense |  | 114 |  |  | 128 |  |  | 89 |
Total expense |  | 135 |  |  | 159 |  |  | 120 |
Income before income taxes |  | 311 |  |  | 314 |  |  | 624 |
Income tax benefit |  | 24 |  |  | (31) |  |  | (35) |
Income before equity in undistributed net income of subsidiaries |  | 287 |  |  | 345 |  |  | 659 |
Equity in undistributed net income (loss) of subsidiaries: |  |  |  |  |  |
Bank |  | 613 |  |  | 561 |  |  | 332 |
Non-bank |  | (3) |  |  | (6) |  |  | 8 |
Net income attributable to the controlling interest |  | $ | 897 |  |  | $ | 900 |  |  | $ | 999 |
Parent Company Statements of Cash Flows |
|  | Year Ended December 31,
(Dollars in millions) |  | 2023 |  | 2022 |  | 2021
Operating activities: |  |  |  |  |  |
Net income |  | $ | 897 |  |  | $ | 900 |  |  | $ | 999 |
Less undistributed net income of subsidiaries |  | 610 |  |  | 555 |  |  | 340 |
Income before undistributed net income of subsidiaries |  | 287 |  |  | 345 |  |  | 659 |
Adjustments to reconcile income to net cash provided by operating activities: |  |  |  |  |  |
Deferred income tax expense |  | 8 |  |  | 7 |  |  | 8 |
Stock-based compensation expense |  | 36 |  |  | 76 |  |  | 43 |
Loss on extinguishment of debt |  | — |  |  | — |  |  | 26 |
Gain on sale of title services business |  | — |  |  | (22) |  |  | — |
Other operating activities, net |  | 1 |  |  | 2 |  |  | (11) |
Total adjustments |  | 45 |  |  | 63 |  |  | 66 |
Net cash provided by operating activities |  | 332 |  |  | 408 |  |  | 725 |
Investing activities: |  |  |  |  |  |
Proceeds from sales and prepayments of securities |  | 21 |  |  | 8 |  |  | 3 |
Purchases of securities |  | (1) |  |  | (1) |  |  | (10) |
(Investment in) return on subsidiary |  | (10) |  |  | 13 |  |  | 8 |
Proceeds from business divestitures, net |  | — |  |  | 22 |  |  | — |
Net cash provided by investing activities |  | 10 |  |  | 42 |  |  | 1 |
Financing activities: |  |  |  |  |  |
Proceeds from issuance of preferred stock |  | — |  |  | 494 |  |  | 145 |
Call of preferred stock |  | — |  |  | — |  |  | (100) |
Cash dividends paid - preferred stock |  | (32) |  |  | (32) |  |  | (33) |
Common stock: |  |  |  |  |  |
Stock options exercised |  | 5 |  |  | 36 |  |  | 28 |
Cash dividends paid |  | (335) |  |  | (324) |  |  | (333) |
Repurchase of shares |  | (10) |  |  | (13) |  |  | (416) |
Repayment of term borrowings |  | (450) |  |  | — |  |  | (120) |
Net cash provided by (used in) financing activities |  | (822) |  |  | 161 |  |  | (829) |
Net increase (decrease) in cash and cash equivalents |  | (480) |  |  | 611 |  |  | (103) |
Cash and cash equivalents at beginning of year |  | 1,335 |  |  | 724 |  |  | 827 |
Cash and cash equivalents at end of year |  | $ | 855 |  |  | $ | 1,335 |  |  | $ | 724 |
Total interest paid |  | $ | 33 |  |  | $ | 35 |  |  | $ | 35 |
Income taxes received from (paid to) subsidiaries |  | (46) |  |  | 42 |  |  | 28 |

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