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Allowance for Credit Losses on Loans and Leases (Tables) | 12 Months Ended
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Dec. 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 credit losses for the periods indicated:
| For the Years Ended December 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 |  | 21 |  | 30 |  | 51
Charge-offs | (178) |  | (45) |  | (223) |  | (5) |  | (2) |  | (7)
Recoveries |  |  | 15 |  | 15 |  | 4 |  | 7 |  | 11
Provision for (recovery of) credit losses on loans and leases | 644 |  | 150 |  | 794 |  | 92 |  | 47 |  | 139
Balance, end of period | $ | 756 |  |  | $ | 236 |  |  | $ | 992 |  |  | $ | 290 |  |  | $ | 103 |  |  | $ | 393 |
Schedule of Additional Information about Nonaccrual Loans | The following table presents additional information about the Company’s nonaccrual loans at December 31, 2023:
(in millions) | Recorded Investment |  | Related Allowance |  | Interest Income Recognized
Nonaccrual loans with no related allowance: |  |  |  |  |
Multi-family | $ | 134 |  |  | $ | — |  |  | $ | 5 |
Commercial real estate | 53 |  | — |  | 2
One-to-four family first mortgage | 85 |  | — |  | —
Acquisition, development, and construction | — |  | — |  | —
Other (includes C&I) | 22 |  | — |  | —
Total nonaccrual loans with no related allowance | $ | 294 |  |  | $ | — |  |  | $ | 7 |
Nonaccrual loans with an allowance recorded: |  |  |  |  |
Multi-family | $ | 4 |  |  | $ | — |  |  | $ | — |
Commercial real estate | 75 |  | 17 |  | 3
One-to-four family first mortgage | 11 |  | 2 |  | —
Acquisition, development, and construction | — |  | — |  | —
Other (includes C&I) | 44 |  | 28 |  | —
Total nonaccrual loans with an allowance recorded | $ | 134 |  |  | $ | 47 |  |  | $ | 3 |
Total nonaccrual loans: |  |  |  |  |
Multi-family | $ | 138 |  |  | $ | — |  |  | $ | 5 |
Commercial real estate | 128 |  | 17 |  | 5
One-to-four family first mortgage | 96 |  | 2 |  | —
Acquisition, development, and construction | — |  | — |  | —
Other (includes C&I) | 66 |  | 28 |  | —
Total nonaccrual loans | $ | 428 |  |  | $ | 47 |  |  | $ | 10 |
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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