XML 49 R29.htm IDEA: XBRL DOCUMENT
v3.22.4

Capital | 12 Months Ended
--- | ---
Dec. 31, 2022
Banking Regulation, Total Capital [Abstract] |
Capital | NOTE 21: CAPITAL The Company is subject to examination, regulation, and periodic reporting under the Bank Holding Company Act of 1956, as amended, which is administered by the FRB. The FRB has adopted capital adequacy guidelines for bank holding companies (on a consolidated basis) that are substantially similar to those of the FDIC for the Bank. The following tables present the regulatory capital ratios for the Company at December 31, 2022 and 2021, in comparison with the minimum amounts and ratios required by the FRB for capital adequacy purposes:
|  | Risk-Based Capital |  |  |  |  |  |  |  |
At December 31, 2022 |  | Common Equity Tier 1 |  |  | Tier 1 |  |  | Total |  |  | Leverage Capital |  |
(dollars in millions) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |
Total capital |  | $ | 6,335 |  |  |  | 9.06 |  | % | $ | 6,838 |  |  |  | 9.78 |  | % | $ | 8,154 |  |  |  | 11.66 |  | % | $ | 6,838 |  |  |  | 9.70 |  | %
Minimum for capital adequacy purposes |  |  | 3,146 |  |  |  | 4.50 |  |  |  | 4,195 |  |  |  | 6.00 |  |  |  | 5,593 |  |  |  | 8.00 |  |  |  | 2,819 |  |  |  | 4.00 |  |
Excess |  | $ | 3,189 |  |  |  | 4.56 |  | % | $ | 2,643 |  |  |  | 3.78 |  | % | $ | 2,561 |  |  |  | 3.66 |  | % | $ | 4,019 |  |  |  | 5.70 |  | %
|  | Risk-Based Capital |  |  |  |  |  |  |  |
At December 31, 2021 |  | Common Equity Tier 1 |  |  | Tier 1 |  |  | Total |  |  | Leverage Capital |  |
(dollars in millions) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |
Total capital |  | $ | 4,226 |  |  |  | 9.68 |  | % | $ | 4,729 |  |  |  | 10.83 |  | % | $ | 5,558 |  |  |  | 12.73 |  | % | $ | 4,729 |  |  |  | 8.46 |  | %
Minimum for capital adequacy purposes |  |  | 1,966 |  |  |  | 4.50 |  |  |  | 2,621 |  |  |  | 6.00 |  |  |  | 3,494 |  |  |  | 8.00 |  |  |  | 2,237 |  |  |  | 4.00 |  |
Excess |  | $ | 2,260 |  |  |  | 5.18 |  | % | $ | 2,108 |  |  |  | 4.83 |  | % | $ | 2,064 |  |  |  | 4.73 |  | % | $ | 2,492 |  |  |  | 4.46 |  | %
At December 31, 2022, our total risk-based capital ratio exceeded the minimum requirement for capital adequacy purposes by 366 basis points and the fully phased-in capital conservation buffer by 116 basis points. The Bank is subject to the provisions of the National Bank Act and other statutes governing national banks, as well as the rules and regulations of the OCC, CFPB, and FDIC (the “Regulators”). The Bank is also governed by numerous federal laws and regulations, including the FDIC Improvement Act of 1991, which established five categories of capital adequacy ranging from “well capitalized” to “critically undercapitalized.” Such classifications are used by the FDIC to determine various matters, including each institution’s FDIC deposit insurance premium assessments. Capital amounts and classifications are also subject to the Regulators’ qualitative judgments about the components of capital and risk weightings, among other factors. The quantitative measures established to ensure capital adequacy require that banks maintain minimum amounts and ratios of leverage capital to average assets and of common equity tier 1 capital, tier 1 capital, and total capital to risk-weighted assets (as such measures are defined in the regulations). At December 31, 2022, the Bank exceeded all the capital adequacy requirements to which they were subject. As of December 31, 2022, the Company and the Bank are categorized as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as well capitalized, a bank must maintain a minimum common equity tier 1 risk-based capital ratio of 6.50 percent; a minimum tier 1 risk-based capital ratio of 8.00 percent; a minimum total risk-based capital ratio of 10.00 percent; and a minimum leverage capital ratio of 5.00 percent. In the opinion of management, no conditions or events have transpired since December 31, 2022 to change these capital adequacy classifications. The following tables present the actual capital amounts and ratios for the Bank at December 31, 2022 and 2021 in comparison to the minimum amounts and ratios required for capital adequacy purposes.
|  | Risk-Based Capital |  |  |  |  |  |  |  |
At December 31, 2022 |  | Common Equity Tier 1 |  |  | Tier 1 |  |  | Total |  |  | Leverage Capital |  |
(dollars in millions) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |
Total capital |  | $ | 7,653 |  |  |  | 10.96 |  | % | $ | 7,653 |  |  |  | 10.96 |  | % | $ | 7,982 |  |  |  | 11.43 |  | % | $ | 7,653 |  |  |  | 10.87 |  | %
Minimum for capital adequacy purposes |  |  | 3,142 |  |  |  | 4.50 |  |  |  | 4,189 |  |  |  | 6.00 |  |  |  | 5,585 |  |  |  | 8.00 |  |  |  | 2,817 |  |  |  | 4.00 |  |
Excess |  | $ | 4,511 |  |  |  | 6.46 |  | % | $ | 3,464 |  |  |  | 4.96 |  | % | $ | 2,397 |  |  |  | 3.43 |  | % | $ | 4,836 |  |  |  | 6.87 |  | %
|  | Risk-Based Capital |  |  |  |  |  |  |  |
At December 31, 2021 |  | Common Equity Tier 1 |  |  | Tier 1 |  |  | Total |  |  | Leverage Capital |  |
(dollars in millions) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |
Total capital |  | $ | 5,217 |  |  |  | 11.95 |  | % | $ | 5,217 |  |  |  | 11.95 |  | % | $ | 5,402 |  |  |  | 12.38 |  | % | $ | 5,217 |  |  |  | 9.33 |  | %
Minimum for capital adequacy purposes |  |  | 1,964 |  |  |  | 4.50 |  |  |  | 2,619 |  |  |  | 6.00 |  |  |  | 3,491 |  |  |  | 8.00 |  |  |  | 2,236 |  |  |  | 4.00 |  |
Excess |  | $ | 3,253 |  |  |  | 7.45 |  | % | $ | 2,598 |  |  |  | 5.95 |  | % | $ | 1,911 |  |  |  | 4.38 |  | % | $ | 2,981 |  |  |  | 5.33 |  | %
Preferred Stock On March 17, 2017, the Company issued 20,600,000 depositary shares, each representing a 1/40th interest in a share of the Company’s Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock, par value $0.01 per share, with a liquidation preference of $1.000 per share (equivalent to $25 per depositary share). Dividends will accrue on the depositary shares at a fixed rate equal to 6.375 percent per annum until March 17, 2027, and a floating rate equal to Three-month LIBOR plus 382.1 basis points per annum beginning on March 17, 2027. Dividends will be payable in arrears on March 17, June 17, September 17, and December 17 of each year, which commenced on June 17, 2017. Treasury Stock Repurchases On October 23, 2018, the Board of Directors approved the repurchase of up to $300 million of the Company’s outstanding common stock. As of December 31, 2022, the Company has repurchased a total of 30 million shares at an average price of $8.88 or an aggregate purchase of $286 million. During the year ended December 31, 2022, the Company repurchased 0.9 million shares, at a cost of $8 million. The Company had no repurchases during 2021.

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

X
- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
Name: | us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration