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Parent Company Only Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
Condensed Statements of Condition | Condensed Statements of Condition
|  |  | December 31, |
(in millions) |  |  | 2021 |  |  | 2020 |
ASSETS: |  |  |  |  |  |  |
Cash and cash equivalents |  | $ |  | 139 |  |  |  | 151 |
Investments in subsidiaries |  |  |  | 7,525 |  |  |  | 7,334 |
Receivables from subsidiaries |  |  |  | 3 |  |  |  | — |
Other assets |  |  |  | 45 |  |  |  | 23 |
Total assets |  | $ |  | 7,712 |  |  |  | 7,508 |
LIABILITIES AND STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |
Junior subordinated debentures |  | $ |  | 361 |  |  |  | 360 |
Subordinated notes |  |  |  | 296 |  |  |  | 296 |
Other liabilities |  |  |  | 11 |  |  |  | 10 |
Total liabilities |  |  |  | 668 |  |  |  | 666 |
Stockholders’ equity |  |  |  | 7,044 |  |  |  | 6,842 |
Total liabilities and stockholders’ equity |  | $ |  | 7,712 |  |  |  | 7,508 |
Condensed Statements of Income (Loss) | Condensed Statements of Income
|  |  | Years Ended December 31, |
(in millions) |  |  | 2021 |  |  | 2020 |  |  | 2019 |
Interest income |  | $ |  | — |  |  | $ | — |  |  | $ | — |
Dividends received from subsidiaries |  |  |  | 380 |  |  |  | 380 |  |  |  | 380 |
Other income |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Gross income |  |  |  | 381 |  |  |  | 381 |  |  |  | 381 |
Operating expenses |  |  |  | 50 |  |  |  | 52 |  |  |  | 50 |
Income before income tax benefit and equity in underdistributed earnings of subsidiaries |  |  |  | 331 |  |  |  | 329 |  |  |  | 331 |
Income tax benefit |  |  |  | 14 |  |  |  | 14 |  |  |  | 14 |
Income before equity in underdistributed earnings of subsidiaries |  |  |  | 345 |  |  |  | 343 |  |  |  | 345 |
Equity in underdistributed earnings of subsidiaries |  |  |  | 251 |  |  |  | 168 |  |  |  | 50 |
Net income |  | $ |  | 596 |  |  | $ | 511 |  |  | $ | 395 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
|  |  | Years Ended December 31, |
(in millions) |  |  | 2021 |  |  | 2020 |  |  | 2019 |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Net income |  | $ |  | 596 |  |  | $ | 511 |  |  | $ | 395 |
Change in other assets |  |  |  | (22 | ) |  |  | — |  |  |  | — |
Change in other liabilities |  |  |  | 1 |  |  |  | — |  |  |  | (2 | )
Other, net |  |  |  | 32 |  |  |  | 30 |  |  |  | 33 |
Equity in undistributed earnings of subsidiaries |  |  |  | (251 | ) |  |  | (168 | ) |  |  | (50 | )
Net cash provided by operating activities |  |  |  | 356 |  |  |  | 373 |  |  |  | 376 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Change in receivable from subsidiaries, net |  |  |  | (3 | ) |  |  | 2 |  |  |  | 4 |
Net cash (used in) provided by investing activities |  |  |  | (3 | ) |  |  | 2 |  |  |  | 4 |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Treasury stock repurchased |  |  |  | (16 | ) |  |  | (59 | ) |  |  | (75 | )
Cash dividends paid on common and preferred stock |  |  |  | (349 | ) |  |  | (348 | ) |  |  | (350 | )
Net cash used in financing activities |  |  |  | (365 | ) |  |  | (407 | ) |  |  | (425 | )
Net decrease in cash and cash equivalents |  |  |  | (12 | ) |  |  | (32 | ) |  |  | (45 | )
Cash and cash equivalents at beginning of year |  |  |  | 151 |  |  |  | 183 |  |  |  | 228 |
Cash and cash equivalents at end of year |  | $ |  | 139 |  | $ |  | 151 |  | $ |  | 183 |

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