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Allowance for Credit Losses on Loans and Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Credit Loss [Abstract] |
Schedule of Activity in the Allowance for Loan and Lease Losses | The following table summarizes activity in the allowance for credit losses for the periods indicated:
| For the Nine Months Ended September 30,
| 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 |  | — |  | — |  | —
Charge-offs | (19) |  | (15) |  | (34) |  | (5) |  | — |  | (5)
Recoveries | — |  | 11 |  | 11 |  | 4 |  | 6 |  | 10
Provision for (recovery of) credit losses on loans and leases | 108 |  | 128 |  | 236 |  | 31 |  | (17) |  | 14
Balance, end of period | $ | 379 |  |  | $ | 240 |  |  | $ | 619 |  |  | $ | 208 |  |  | $ | 10 |  |  | $ | 218 |
Schedule of Additional Information about Nonaccrual Loans | The following table presents additional information about the Company’s nonaccrual loans at September 30, 2023:
(in millions) | Recorded Investment |  | Related Allowance |  | Interest Income Recognized
Nonaccrual loans with no related allowance: |  |  |  |  |
Multi-family | $ | 58 |  |  | $ | — |  |  | $ | 1 |
Commercial real estate | 42 |  | — |  | 1
One-to-four family first mortgage | 84 |  | — |  | —
Acquisition, development, and construction | — |  | — |  | —
Other (includes C&I) | 38 |  | — |  | —
Total nonaccrual loans with no related allowance | $ | 222 |  |  | $ | — |  |  | $ | 2 |
Nonaccrual loans with an allowance recorded: |  |  |  |  |
Multi-family | $ | 44 |  |  | $ | 1 |  |  | $ | 1 |
Commercial real estate | 115 |  | 4 |  | 3
One-to-four family first mortgage | 6 |  | — |  | —
Acquisition, development, and construction | 1 |  | 1 |  | —
Other (includes C&I) | 46 |  | 32 |  | —
Total nonaccrual loans with an allowance recorded | $ | 212 |  |  | $ | 38 |  |  | $ | 4 |
Total nonaccrual loans: |  |  |  |  |
Multi-family | $ | 102 |  |  | $ | 1 |  |  | $ | 2 |
Commercial real estate | 157 |  | 4 |  | 4
One-to-four family first mortgage | 90 |  | — |  | —
Acquisition, development, and construction | 1 |  | 1 |  | —
Other (includes C&I) | 84 |  | 32 |  | —
Total nonaccrual loans | $ | 434 |  |  | $ | 38 |  |  | $ | 6 |
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 |  | — |  | —
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://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B + Details
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- Definition Tabular disclosure of impaired financing receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-15 + Details
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