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Consolidated Statements of (Loss) Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
INTEREST INCOME:      
Loans and leases $ 4,369 $ 4,509 $ 1,848
Securities and money market investments 1,584 982 244
Total interest income 5,953 5,491 2,092
INTEREST EXPENSE:      
Interest-bearing checking and money market accounts 869 943 226
Savings accounts 345 169 60
Certificates of deposit 1,362 646 97
Borrowed funds 1,225 656 313
Total interest expense 3,801 2,414 696
Net interest income 2,152 3,077 1,396
Provision for credit losses 1,092 833 133
Net interest income after provision for credit loan losses 1,060 2,244 1,263
NON-INTEREST INCOME:      
Fee income 150 172 27
Bank-owned life insurance 42 43 32
Net return on mortgage servicing rights 73 103 6
Net gain on loan sales and securitizations 48 89 5
Net gain on mortgage/servicing sale 89 0 0
Net loan administration income 2 82 3
Bargain purchase gain (121) 2,131 159
Other 117 67 15
Total non-interest income 400 2,687 247
NON-INTEREST EXPENSE:      
Compensation and benefits 1,263 1,149 354
FDIC insurance 313 126 0
Occupancy and equipment 211 200 92
General and administrative 809 624 158
Total operating expense 2,596 2,099 604
Intangible asset amortization 136 126 5
Merger-related and restructuring expenses 106 330 75
Goodwill impairment 0 2,426 0
Total non-interest expense 2,838 4,981 684
(Loss) income before income taxes (1,378) (50) 826
Income tax (benefit)/expense (260) 29 176
Net (loss) income (1,118) (79) 650
Preferred stock dividends 35 33 33
Net (loss) attributable / net income available to common stockholders $ (1,153) $ (112) $ 617
Basic (loss) earnings per common share (in usd per share) [1] $ (3.49) $ (0.49) $ 3.78
Diluted (loss) earnings per common share (in usd per share) [1] $ (3.49) $ (0.49) $ 3.77
Net (loss) income $ (1,118) $ (79) $ 650
Other comprehensive gain (loss), net of tax:      
Net unrealized gain (loss) on securities available for sale (72) 45 (581)
Net unrealized gain (loss) in pension and post-retirement obligations (6) 18 (15)
Net unrealized gain (loss) on cash flow hedges 37 (42) 61
Total other comprehensive gain (loss), net of tax (41) 21 (535)
Total comprehensive (loss) income, net of tax $ (1,159) $ (58) $ 115
[1] On June 27, 2024, the Company announced a 1 for 3 reverse stock split, effective July 11, 2024. This reverse stock split is reflected retroactively in all periods presented. See Note 1 - Description of Business, Organization and Basis of Presentation.