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v3.23.1

Allowance for Credit Losses on Loans and Leases (Tables) | 3 Months Ended
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Mar. 31, 2023
Credit Loss [Abstract] |
Schedule of Activity in the Allowance for Loan and Lease Losses | The following table summarizes activity in the allowance for loan and lease losses for the periods indicated:
| For the Three Months Ended March 31,
| 2023 |  | 2022
(in millions) | Mortgage |  | Other |  | Total |  | Mortgage |  | Other |  | Total
Balance, beginning of period | $ | 290 |  |  | $ | 103 |  |  | $ | 393 |  |  | $ | 178 |  |  | $ | 21 |  |  | $ | 199 |
Adjustment for Purchased PCD Loans | — |  | 13 |  | 13 |  |  |  |  |  | 0
Charge-offs | (2) |  | (3) |  | (5) |  | (3) |  | — |  | (3)
Recoveries | — |  | 5 |  | 5 |  | — |  | 2 |  | 2
Provision for (recovery of) credit losses on loans and leases | (5) |  | 149 |  | 144 |  | 1 |  | (2) |  | (1)
Balance, end of period | $ | 283 |  |  | $ | 267 |  |  | $ | 550 |  |  | $ | 176 |  |  | $ | 21 |  |  | $ | 197 |
Schedule of Additional Information about Nonaccrual Loans | The following table presents additional information about the Company’s nonaccrual loans at March 31, 2023:
(in millions) | Recorded Investment |  | Related Allowance |  | Interest Income Recognized
Nonaccrual loans with no related allowance: |  |  |  |  |
Multi-family | $ | 13 |  |  | $ | — |  |  | $ | — |
Commercial real estate | 18 |  | — |  | —
One-to-four family first mortgage | 77 |  | — |  | —
Acquisition, development, and construction | — |  | — |  | —
Other (includes C&I) | 16 |  | — |  | —
Total nonaccrual loans with no related allowance | $ | 124 |  |  | $ | — |  |  | $ | — |
Nonaccrual loans with an allowance recorded: |  |  |  |  |
Multi-family | $ | — |  |  | $ | — |  |  | $ | — |
Commercial real estate | 3 |  | — |  | —
One-to-four family first mortgage | 7 |  | 1 |  | —
Acquisition, development, and construction | — |  | — |  | —
Other (includes C&I) | 14 |  | 14 |  | —
Total nonaccrual loans with an allowance recorded | $ | 24 |  |  | $ | 15 |  |  | $ | — |
Total nonaccrual loans: |  |  |  |  |
Multi-family | $ | 13 |  |  | $ | — |  |  | $ | — |
Commercial real estate | 21 |  | — |  | —
One-to-four family first mortgage | 84 |  | 1 |  | —
Acquisition, development, and construction | — |  | — |  | —
Other (includes C&I) | 30 |  | 14 |  | —
Total nonaccrual loans | $ | 148 |  |  | $ | 15 |  |  | $ | — |
The following table presents additional information about the Company’s nonaccrual loans at December 31, 2022:
(in millions) | Recorded Investment |  | Related Allowance |  | Interest Income Recognized
Nonaccrual loans with no related allowance: |  |  |  |  |
Multi-family | $ | 13 |  |  | $ | — |  |  | $ | — |
Commercial real estate | 19 |  | — |  | 1
One-to-four family first mortgage | 90 |  | — |  | —
Other (includes C&I) | 3 |  | — |  | —
Total nonaccrual loans with no related allowance | $ | 125 |  |  | $ | — |  |  | $ | 1 |
Nonaccrual loans with an allowance recorded: |  |  |  |  |
Commercial real estate | $ | 1 |  |  | $ | — |  |  | $ | — |
One-to-four family first mortgage | 2 |  | — |  | —
Other (includes C&I) | 13 |  | 14 |  | —
Total nonaccrual loans with an allowance recorded | $ | 16 |  |  | $ | 14 |  |  | $ | — |
Total nonaccrual loans: |  |  |  |  |
Multi-family | $ | 13 |  |  | $ | — |  |  | $ | — |
Commercial real estate | 20 |  | — |  | 1
One-to-four family first mortgage | 92 |  | — |  | —
Acquisition, development, and construction | — |  | — |  | —
Other (includes C&I) | 16 |  | 14 |  | —
Total nonaccrual loans | $ | 141 |  |  | $ | 14 |  |  | $ | 1 |

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- 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
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- Definition Tabular disclosure of impaired financing receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=123577603&loc=d3e5212-111524 + Details
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