DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Feb. 21, 2024 | Jun. 30, 2023 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 001-34034 | ||
Entity Registrant Name | REGIONS FINANCIAL CORPORATION | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2023 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0001281761 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 63-0589368 | ||
Entity Address, Address Line One | 1900 Fifth Avenue North | ||
Entity Address, City or Town | Birmingham | ||
Entity Address, State or Province | AL | ||
Entity Address, Postal Zip Code | 35203 | ||
City Area Code | 800 | ||
Local Phone Number | 734-4667 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 16,319,687,553 | ||
Entity Common Stock, Shares Outstanding | 918,864,048 | ||
Documents Incorporated by Reference | Portions of the proxy statement for the registrant's 2024 Annual Meeting of Shareholders are incorporated by reference into Part III to the extent described therein. | ||
Common Stock [Member] | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Common Stock, $.01 par value | ||
Trading Symbol | RF | ||
Security Exchange Name | NYSE | ||
Series B Preferred Stock [Member] | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B | ||
Trading Symbol | RF PRB | ||
Security Exchange Name | NYSE | ||
Series C Preferred Stock [Member] | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | 5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C | ||
Trading Symbol | RF PRC | ||
Security Exchange Name | NYSE | ||
Series E Preferred Stock | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | 4.45% Non-Cumulative Perpetual Preferred Stock, Series E | ||
Trading Symbol | RF PRE | ||
Security Exchange Name | NYSE |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2023 | |
Audit Information [Abstract] | |
Auditor Name | Ernst & Young LLP |
Auditor Location | Birmingham, Alabama |
Auditor Firm ID | 42 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and due from banks | $ 2,635 | $ 1,997 |
Interest-bearing deposits in other banks | 4,166 | 9,230 |
Debt Securities held to maturity | 754 | 801 |
Debt securities available for sale | 28,104 | 27,933 |
Loans held for sale | 400 | 354 |
Loans, net of unearned income | 98,379 | 97,009 |
Allowance for loan losses | (1,576) | (1,464) |
Net loans | 96,803 | 95,545 |
Other earning assets | 1,417 | 1,308 |
Premises, equipment and software, net | 1,642 | 1,718 |
Interest receivable | 614 | 511 |
Goodwill | 5,733 | 5,733 |
Servicing Asset at Fair Value, Amount | 906 | 812 |
Other identifiable intangible assets, net | $ 205 | 249 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | |
Other assets | $ 8,815 | 9,029 |
Total assets | 152,194 | 155,220 |
Deposits: | ||
Noninterest-bearing Deposit Liabilities | 42,368 | 51,348 |
Interest-bearing | 85,420 | 80,395 |
Total deposits | 127,788 | 131,743 |
Borrowed funds: | ||
Long-term borrowings | 2,330 | 2,284 |
Total borrowed funds | $ 2,330 | 2,284 |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | |
Other liabilities | $ 4,583 | 5,242 |
Total liabilities | 134,701 | 139,269 |
Equity: | ||
Preferred stock | 1,659 | 1,659 |
Common stock | 10 | 10 |
Additional paid-in capital | 11,757 | 11,988 |
Retained earnings | 8,186 | 7,004 |
Treasury stock, at cost | (1,371) | (1,371) |
Accumulated other comprehensive income (loss), net | (2,812) | (3,343) |
Total shareholders’ equity | 17,429 | 15,947 |
Equity, Attributable to Noncontrolling Interest | 64 | 4 |
Equity, Including Portion Attributable to Noncontrolling Interest, Total | 17,493 | 15,951 |
Total liabilities and equity | $ 152,194 | $ 155,220 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Debt Securities held to maturity, estimated fair value | $ 716 | $ 751 |
Debt Securities, Available-for-sale, Amortized Cost | $ 30,864 | $ 31,367 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Preferred stock, shares issued | 1,403,500 | 1,403,500 |
Common Stock, Shares Authorized | 3,000,000,000 | 3,000,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares, Issued | 963,375,681 | 975,524,168 |
Treasury Stock, Common, Shares | 41,032,676 | 41,032,676 |
Recurring Fair Value Measurements [Member] | ||
Loans held for sale | $ 201 | $ 196 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest income on: | |||
Loans, including fees | $ 5,733 | $ 4,088 | $ 3,452 |
Debt securities | 749 | 688 | 533 |
Loans held for sale | 40 | 36 | 37 |
Other earning assets | 375 | 290 | 59 |
Total interest income | 6,897 | 5,102 | 4,081 |
Interest expense on: | |||
Deposits | 1,255 | 197 | 64 |
Short-term borrowings | 96 | 0 | 0 |
Long-term borrowings | 226 | 119 | 103 |
Total interest expense | 1,577 | 316 | 167 |
Net interest income | 5,320 | 4,786 | 3,914 |
Provision (credit) for credit losses | 553 | 271 | (524) |
Net interest income after provision for credit losses | 4,767 | 4,515 | 4,438 |
Non-interest income: | |||
Total Noninterest Income | 2,256 | 2,429 | 2,524 |
Non-interest expense: | |||
Salaries and employee benefits | 2,416 | 2,318 | 2,205 |
Equipment and Software Expense | 412 | 392 | 365 |
Net occupancy expense | $ 289 | 300 | 303 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] | Other | ||
Other | $ 1,299 | 1,058 | 874 |
Total non-interest expense | 4,416 | 4,068 | 3,747 |
Income before income taxes | 2,607 | 2,876 | 3,215 |
Income tax expense | 533 | 631 | 694 |
Net income | 2,074 | 2,245 | 2,521 |
Net income available to common shareholders | $ 1,976 | $ 2,146 | $ 2,400 |
Weighted Average Number of Shares Outstanding, Diluted [Abstract] | |||
Basic | 936 | 935 | 956 |
Diluted | 938 | 942 | 963 |
Earnings Per Share [Abstract] | |||
Basic | $ 2.11 | $ 2.29 | $ 2.51 |
Diluted | $ 2.11 | $ 2.28 | $ 2.49 |
Service charges on deposit accounts | |||
Non-interest income: | |||
Total Noninterest Income | $ 592 | $ 641 | $ 648 |
Card and ATM fees | |||
Non-interest income: | |||
Total Noninterest Income | 504 | 513 | 499 |
Investment management and trust fee income | |||
Non-interest income: | |||
Total Noninterest Income | 313 | 297 | 278 |
Capital Markets [Member] | |||
Non-interest income: | |||
Total Noninterest Income | 222 | 339 | 331 |
Mortgage income | |||
Non-interest income: | |||
Total Noninterest Income | 109 | 156 | 242 |
Securities gains, net [Member] | |||
Non-interest income: | |||
Total Noninterest Income | (5) | (1) | 3 |
Other [Member] | |||
Non-interest income: | |||
Total Noninterest Income | $ 521 | $ 484 | $ 523 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 2,074 | $ 2,245 | $ 2,521 |
Unrealized losses on securities transferred to held to maturity during the period, net of tax | 0 | 0 | 0 |
Less: Reclassification Adjustments for Amortization of Unrealized Losses on Securities Transferred to Held to Maturity, Net of Tax | (1) | (2) | (5) |
Net change in unrealized losses on securities transferred to held to maturity, net of tax | 1 | 2 | 5 |
Unrealized holding gains (losses) arising during the period on securities available for sale, net of tax | 501 | (2,725) | (629) |
Less: reclassification adjustments for securities gains (losses) realized in net income (net of tax) | (4) | (1) | 2 |
Net change in unrealized gains (losses) on securities available for sale, net of tax | 505 | (2,724) | (631) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (124) | (866) | (265) |
Less: reclassification adjustments for gains (losses) on derivative instruments realized in net income (net of tax) | (176) | 104 | 318 |
Net change in unrealized gains (losses) on derivative instruments, net of tax | (970) | (583) | |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax | (61) | 33 | 134 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | (34) | (27) | (49) |
Net change from defined benefit pension plans and other post employment benefits, net of tax | (27) | 60 | 183 |
Other comprehensive income (loss), net of tax | 531 | (3,632) | (1,026) |
Comprehensive income (loss) | $ 2,605 | $ (1,387) | $ 1,495 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Comprehensive Income [Abstract] | |||
Unrealized losses on securities transferred to held to maturity during the period, tax | $ 0 | $ 0 | $ 0 |
Amortization of unrealized losses on securities transferred to held to maturity, tax | 1 | 1 | 2 |
Unrealized holding gains (losses) on available for sale securities, tax | 168 | (927) | (212) |
Reclassification adjustments for securities gains (losses) realized in net income, tax | (1) | 0 | 1 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | (43) | (292) | (89) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | (60) | 36 | 108 |
Net actuarial gains and losses arising during the period, tax | (21) | 7 | 46 |
Reclassification adjustments for amortization of actuarial loss and settlements realized in net income, and other, tax | $ (11) | $ (11) | $ (16) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings (Deficit) [Member] | Treasury Stock, Common | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest | Cumulative Effect, Period of Adoption, Adjustment | Cumulative Effect, Period of Adoption, Adjustment Retained Earnings (Deficit) [Member] |
Beginning Balance Outstanding (shares) at Dec. 31, 2020 | 2 | 960 | ||||||||
Beginning Balance at Dec. 31, 2020 | $ 18,111 | $ 1,656 | $ 10 | $ 12,731 | $ 3,770 | $ (1,371) | $ 1,315 | $ 0 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 2,521 | 2,521 | ||||||||
Other comprehensive income (loss), net of tax | (1,026) | (1,026) | ||||||||
Cash dividends declared | (620) | (620) | ||||||||
Preferred stock dividends | (108) | (108) | ||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | 390 | 390 | ||||||||
Stock Redeemed or Called During Period, Value | (500) | $ (387) | (100) | (13) | ||||||
Shares repurchased (in shares) | (21) | |||||||||
Impact of share repurchase, value | (467) | (467) | ||||||||
Impact of stock transactions under compensation plans, net and other, shares | 3 | |||||||||
Impact of stock transactions under compensation plans, net and other | 25 | 25 | ||||||||
Ending Balance Outstanding (shares) at Dec. 31, 2021 | 2 | 942 | ||||||||
Ending Balance at Dec. 31, 2021 | 18,326 | $ 1,659 | $ 10 | 12,189 | 5,550 | (1,371) | 289 | 0 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 2,245 | 2,245 | ||||||||
Other comprehensive income (loss), net of tax | (3,632) | (3,632) | ||||||||
Cash dividends declared | (692) | (692) | ||||||||
Preferred stock dividends | (99) | (99) | ||||||||
Shares repurchased (in shares) | (8) | |||||||||
Impact of share repurchase, value | (230) | (230) | ||||||||
Impact of stock transactions under compensation plans, net and other | 29 | 29 | ||||||||
Other | 4 | |||||||||
Ending Balance Outstanding (shares) at Dec. 31, 2022 | 2 | 934 | ||||||||
Ending Balance at Dec. 31, 2022 | 15,947 | $ 1,659 | $ 10 | 11,988 | 7,004 | (1,371) | (3,343) | 4 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Cumulative effect from change in accounting guidance | $ 28 | $ 28 | ||||||||
Net income | 2,074 | 2,074 | ||||||||
Other comprehensive income (loss), net of tax | 531 | 531 | ||||||||
Cash dividends declared | (822) | (822) | ||||||||
Preferred stock dividends | (98) | (98) | ||||||||
Shares repurchased (in shares) | (16) | |||||||||
Impact of share repurchase, value | (252) | (252) | ||||||||
Impact of stock transactions under compensation plans, net and other, shares | 6 | |||||||||
Impact of stock transactions under compensation plans, net and other | 21 | 21 | ||||||||
Other | 60 | |||||||||
Ending Balance Outstanding (shares) at Dec. 31, 2023 | 2 | 924 | ||||||||
Ending Balance at Dec. 31, 2023 | $ 17,429 | $ 1,659 | $ 10 | $ 11,757 | $ 8,186 | $ (1,371) | $ (2,812) | $ 64 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Operating activities: | |||
Net income | $ 2,074 | $ 2,245 | $ 2,521 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Provision (credit) for credit losses | 553 | 271 | (524) |
Depreciation, amortization and accretion, net | 236 | 353 | 371 |
Securities (gains) losses, net | 5 | (1) | (3) |
Deferred income tax expense | 32 | 22 | 165 |
Originations and purchases of loans held for sale | (4,496) | (4,630) | (6,747) |
Proceeds from sales of loans held for sale | 4,440 | 5,221 | 7,728 |
(Gain) loss on sale of loans, net | (45) | (30) | (273) |
Gain (Loss) on Extinguishment of Debt | (4) | 0 | 20 |
Net change in operating assets and liabilities: | |||
Other earning assets | (109) | (124) | 13 |
Interest receivable and other assets | 194 | (2,242) | (231) |
Other liabilities | (659) | 2,092 | (76) |
Other | 87 | (77) | 66 |
Net cash from operating activities | 2,308 | 3,102 | 3,030 |
Investing activities: | |||
Proceeds from maturities of debt securities held to maturity | 47 | 98 | 222 |
Proceeds from sales of debt securities available for sale | 70 | 1,309 | 83 |
Proceeds from maturities of debt securities available for sale | 2,930 | 4,433 | 5,848 |
Purchases of debt securities available for sale | 2,610 | 8,991 | 8,360 |
Net (payments for) proceeds from bank-owned life insurance | (5) | (4) | (2) |
Proceeds from sales of loans | 485 | 1,793 | 522 |
Purchases of loans | (426) | (876) | (1,314) |
Net change in loans | (1,755) | (10,325) | 1,481 |
Purchases of mortgage servicing rights | (157) | (288) | (72) |
Net purchases of other assets | (186) | (90) | (91) |
Payment for acquisition of businesses, net of cash received | 0 | 0 | (1,182) |
Net cash from investing activities | (1,607) | (12,941) | (2,865) |
Financing activities: | |||
Net change in deposits | (3,955) | (7,329) | 13,836 |
Net change in short-term borrowings | 0 | 0 | (102) |
Proceeds from long-term borrowings | 2,000 | 0 | 647 |
Payments on long-term borrowings | (2,000) | 0 | (1,779) |
Cash dividends on common stock | (787) | (663) | (608) |
Cash dividends on preferred stock | (98) | (99) | (108) |
Net proceeds from issuance of preferred stock | 0 | 0 | 390 |
Stock Redeemed or Called During Period, Value | 0 | 0 | (500) |
Repurchases of common stock | (252) | (230) | (467) |
Taxes paid related to net share settlement of equity awards | (35) | (24) | (22) |
Other | 0 | 0 | 3 |
Net cash from financing activities | (5,127) | (8,345) | 11,290 |
Net change in cash and cash equivalents | (4,426) | (18,184) | 11,455 |
Cash and cash equivalents at beginning of year | 11,227 | 29,411 | 17,956 |
Cash and cash equivalents at end of year | $ 6,801 | $ 11,227 | $ 29,411 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Regions Financial Corporation (“Regions” or the “Company”) provides a full range of banking and bank-related services to individual and corporate customers through its subsidiaries and branch offices located across the South, Midwest and Texas as well as delivering specialty capabilities nationwide. Regions is subject to the regulations of certain government agencies and undergoes periodic examinations by certain of those regulatory authorities. The accounting and reporting policies of Regions and the methods of applying those policies that materially affect the consolidated financial statements conform with GAAP and with general financial services industry practices. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet dates and revenues and expenses for the periods presented. Actual results could differ from the estimates and assumptions used in the consolidated financial statements including, but not limited to, the estimates and assumptions related to the allowance for credit losses, fair value measurements, intangibles, residential MSRs and income taxes. Regions has evaluated all subsequent events for potential recognition and disclosure through the filing date of this Annual Report on Form 10-K. During 2023, the Company adopted new accounting guidance related to several topics. All prior period amounts impacted by guidance that required retrospective application have been revised. Certain amounts in prior period financial statements have been reclassified to conform to the current period presentation, except as otherwise noted. These reclassifications are immaterial and have no effect on net income, comprehensive income (loss), total assets, total liabilities, total shareholders’ equity or cash flows as previously reported. BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of Regions, its subsidiaries and certain VIEs. Significant intercompany balances and transactions have been eliminated. Regions considers a voting rights entity to be a subsidiary and consolidates it if Regions has a controlling financial interest in the entity. VIEs are consolidated if Regions has the power to direct the activities of the VIE that significantly impact financial performance and has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE (i.e., Regions is the primary beneficiary). The determination of whether Regions is the primary beneficiary of a VIE is reassessed on an ongoing basis. Investments in companies which are not VIEs but in which Regions has more than minor influence over the operating and financial policies, are accounted for using the equity method of accounting. Investments in VIEs, where Regions is not the primary beneficiary of a VIE, are accounted for using either the proportional amortization method or the equity method of accounting. These investments are included in other assets. The maximum potential exposure to losses relative to investments in VIEs is generally limited to the sum of the outstanding balance, future funding commitments and any related loans to the entity. Loans to these entities are underwritten in substantially the same manner as are other loans and are generally secured. Refer to Note 2 for additional disclosures regarding Regions’ significant VIEs. CASH EQUIVALENTS AND CASH FLOWS Cash equivalents represent assets that can be converted into cash immediately. At Regions, these assets include cash and due from banks, interest-bearing deposits in other banks, and federal funds sold and securities purchased under agreements to resell. Cash flows from loans, either originated or acquired, are classified at that time according to management’s intent to either sell or hold the loan for the foreseeable future. When management’s intent is to sell the loan, the cash flows of that loan are presented as operating cash flows. When management’s intent is to hold the loan for the foreseeable future, the cash flows of that loan are presented as investing cash flows. The following table summarizes supplemental cash flow information for the years ended December 31: 2023 2022 2021 (In millions) Cash paid during the period for: Interest on deposits and borrowed funds $ 1,441 $ 303 $ 185 Income taxes, net 376 336 367 Non-cash transfers: Loans held for sale and loans transferred to other real estate 21 21 14 Loans transferred to loans held for sale 15 22 240 Loans held for sale transferred to loans 18 24 277 Properties transferred to held for sale 79 6 38 SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities purchased under agreements to resell and securities sold under agreements to repurchase are treated as collateralized financing transactions. It is Regions’ policy to take possession of securities purchased under resell agreements either through direct delivery or a tri-party agreement. DEBT SECURITIES Management determines the appropriate accounting classification of debt securities at the time of purchase, based on intent, and periodically re-evaluates such designations. Debt securities are classified as held to maturity when the Company has the intent and ability to hold the securities to maturity. Debt securities held to maturity are presented at amortized cost. Debt securities not classified as held to maturity are classified as available for sale and may be sold prior to maturity. Debt securities available for sale are presented at estimated fair value with changes in unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive income (loss). See the “Fair Value Measurements” section below for discussion of determining fair value. The amortized cost of debt securities classified as held to maturity and available for sale is adjusted for amortization of premiums and accretion of discounts to maturity, or first call date when applicable, using the effective interest method. Such amortization or accretion is included in interest income on securities. Realized gains and losses are included in net securities gains (losses). The cost of securities sold is based on the specific identification method. For debt securities available for sale, the Company reviews its securities portfolio for impairment and determines if impairment is related to credit loss or non-credit loss. In making the assessment of whether a loss is from credit or other factors, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows is less than the amortized cost basis, a credit loss exists and an allowance is created, limited by the amount that the fair value is less than the amortized cost basis. Subsequent activity related to the credit loss component (e.g. write-offs, recoveries) is recognized as part of the allowance for credit losses on debt securities available for sale. Securities held to maturity are evaluated under the allowance for credit losses model. For securities which have an expectation of zero nonpayment of the amortized cost basis (e.g. U.S. Treasury securities or agency securities), the expected credit loss is zero. Refer to Note 3 for further detail and information on securities. LOANS HELD FOR SALE Regions’ loans held for sale primarily includes commercial loans, investor real estate loans, and residential real estate mortgage loans. Loans held for sale are recorded at either estimated fair value, if the fair value option is elected, or the lower of cost or estimated fair value. Regions has elected to account for residential real estate mortgages originated with the intent to sell at fair value. Intent is established for these conforming residential real estate mortgage loans when Regions enters into an interest rate lock commitment. Gains and losses on these residential mortgage loans held for sale for which the fair value option has been elected are included in mortgage income. Management has elected the fair value option for certain commercial loans originated with the intent to sell and gains and losses on those loans are included in capital markets income. Regions also transfers loans that were originally recorded as held for investment to held for sale when management has the intent to sell in the near term. These loans held for sale are recorded at the lower of cost or estimated fair value. The amount is then considered the new cost basis of the loan. At the time of transfer, write-downs on the loans that are credit related are recorded as charge-offs. All other write-downs and gains and losses on the sale of these loans are included in other non-interest expense or other non-interest income (dependent on the type of loan). See the “Fair Value Measurements” section below for discussion of determining estimated fair value. LOANS Regions' loans balance is comprised of commercial, investor real estate and consumer loans. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are considered loans held for investment (or portfolio loans). Loans held for investment are carried at amortized cost (the principal amount outstanding, net of premiums, discounts, unearned income and deferred loan fees and costs). Regions elected to exclude accrued interest receivable balances from the amortized cost basis. Interest receivable is included as a separate line item on the balance sheet. Interest income on all types of loans is accrued based on the contractual interest rate and the principal amount outstanding using methods that approximate the interest method, except for those loans classified as non-accrual. Premiums and discounts on purchased loans and non-refundable loan origination and commitment fees, net of direct costs of originating or acquiring loans, are deferred and recognized over the contractual or estimated lives of the related loans as an adjustment to the loans’ constant effective yield, which is included in interest income on loans. Direct financing, sales-type and leveraged leases are included within the commercial portfolio segment. See Note 4 for further detail and information on loans and Note 13 for further detail and information on leases. Regions determines past due or delinquency status of a loan based on contractual payment terms. Commercial and investor real estate loans are placed on non-accrual if any of the following conditions occur: 1) collection in full of contractual principal and interest is no longer reasonably assured (even if current as to payment status), 2) a partial charge-off has occurred, unless the loan has been brought current under its contractual terms (original or restructured terms) and the full originally contracted principal and interest is considered to be fully collectible, or 3) the loan is delinquent on any principal or interest for 90 days or more unless the obligation is secured by collateral having a net realizable value (estimated fair value less costs to sell) sufficient to fully discharge the obligation and the loan is in the legal process of collection. Factors considered regarding full collection include assessment of changes in borrower’s cash flow, valuation of underlying collateral, ability and willingness of guarantors to provide credit support, and other conditions. Charge-offs on commercial and investor real estate loans are primarily based on the facts and circumstances of the individual loan and occur when available information confirms the loan is not or will not be fully collectible. Factors considered in making these determinations are the borrower’s and any guarantor’s ability and willingness to pay, the status of the account in bankruptcy court (if applicable), and collateral value. Commercial and investor real estate loan relationships of $250,000 or less are subject to charge-off or charge down to estimated fair value at 180 days past due, based on collateral value. Certain equipment finance loans are subject to charge-off at 120 days past due. Non-accrual and charge-off decisions for consumer loans are dictated by the FFIEC's Uniform Retail Credit Classification and Account Management Policy which establishes standards for the classification and treatment of consumer loans. The charge-off process drives consumer non-accrual status. If a consumer loan secured by real estate in a first lien position (residential first mortgage or home equity) becomes 180 days past due, Regions evaluates the loan for non-accrual status and potential charge-off based on collateral value. For home equity loans and lines of credit in a second lien position, the non-accrual evaluation is performed at 120 days past due and the potential charge-off evaluation is performed at 180 days past due. If a loan is secured by collateral having a net realizable value sufficient to fully discharge the obligation, then a partial write-down is not necessary and the loan remains on accrual status, provided it is in the process of legal collection. If a partial charge-off is necessary as a result of the evaluation, then the remaining balance is placed on non-accrual. Consumer loans not secured by real estate are generally charged-off at either 120 days past due for closed-end loans, 180 days past due for open-end loans other than credit cards or the end of the month in which the loan becomes 180 days past due for credit cards. When loans are placed on non-accrual status, the accrual of interest, amortization of loan premium, accretion of loan discount and amortization/accretion of deferred net loan fees/costs are discontinued. When a commercial or investor real estate loan is placed on non-accrual status, uncollected interest accrued in the current year is reversed and charged to interest income. Uncollected interest accrued from prior years on commercial and investor real estate loans placed on non-accrual status in the current year is charged against the allowance for loan losses. When a consumer loan is placed on non-accrual status, all uncollected interest accrued is reversed and charged to interest income due to immateriality. Interest collections on commercial and investor real estate non-accrual loans are applied as principal reductions. Interest collections on consumer non-accrual loans are recorded using the cash basis, due to immateriality. All loans on non-accrual status may be returned to accrual status and interest accrual resumed if all of the following conditions are met: 1) the loan is brought contractually current as to both principal and interest, 2) future payments are reasonably expected to continue being received in accordance with the terms of the loan and repayment ability can be reasonably demonstrated, and 3) the loan has been performing for at least six months. Purchased Loans Purchased loans are recorded at their fair value at the acquisition date. Purchased loans are evaluated and classified as either PCD, which indicates that the loan has experienced more than insignificant credit deterioration since origination, or non-PCD loans. For PCD loans, the sum of the loans' purchase price and allowance for credit losses, which is determined using the same methodology as originated loans, becomes their initial amortized cost basis. For non-PCD loans, the difference between the fair value and the par value is considered the fair value mark. The non-credit discount or premium related to PCD loans and the fair value mark on non-PCD loans is accreted or amortized into interest income over the contractual life of the loan using the effective interest method. Subsequent changes in the allowance to the PCD and non-PCD loans are recognized in the provision for credit losses. Modifications to Borrowers Experiencing Financial Difficulty On January 1, 2023, the Company adopted new accounting guidance that eliminated the recognition and measurement guidance for TDRs while enhancing disclosure requirements for certain loan refinancings and restructurings made to borrowers experiencing financial difficulty, also referred to as modifications to troubled borrowers. Modifications to troubled borrowers are considered in the allowance the same as all other portfolio loans as described in the allowance section below. The guidance also requires disclosure of current-period gross write-offs by year of origination. Regions applied the guidance prospectively, except Regions used the modified-retrospective transition method related to the recognition and measurement of TDRs. The cumulative effect of the modified-retrospective application was a decrease in the allowance of $38 million and an increase to retained earnings of $28 million, net of taxes. Modifications to troubled borrowers are loans where the borrower is experiencing financial difficulty at the time of modification and are undertaken in order to improve the likelihood of repayment. Modification types classified as modifications to troubled borrowers include interest rate reductions, other than insignificant term extensions, other than insignificant payment deferrals, principal forgiveness, or any combination of these. Further details are as follows: • Interest rate reduction modifications include instances where the absolute interest rate is reduced as part of the modification. In instances where the rate index changes for variable-rate loans, Regions evaluates whether or not the absolute interest rate decreases from the original rate to the updated rate. • Term extensions are maturity extensions, many of which occur through renewals or restructurings. • Payment deferrals include modifications wherein the contractual payment term is extended. Examples of payment deferral modifications include, but are not limited to, re-agings, payment delays or holidays, lengthening of amortization terms, allowing for an interest-only payment period, and capitalizing interest payments in loan restructurings. • Regions rarely grants principal forgiveness modifications. Modifications to troubled borrowers are subject to policies governing accrual/non-accrual evaluation consistent with all other loans of the same product types. As such, modifications to troubled borrowers may include loans remaining on non-accrual, moving to non-accrual, or continuing on accrual status, depending on the individual facts and circumstances. TDRs Prior to January 1, 2023, the Company accounted for loans in which the borrower was experiencing financial difficulty at the modification date and wherein Regions had granted a concession to the borrower as a TDR. Refer to Note 1 in the Annual Report on Form 10-K for the year ended December 31, 2022 for a description of accounting policies related to TDRs. ALLOWANCE The allowance is intended to cover expected credit losses over the contractual life of loans measured at amortized cost, including unfunded commitments. Management’s measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and R&S forecasts that affect the collectability of the reported amount. For periods beyond which Regions makes or obtains such R&S forecasts, Regions reverts to historical credit loss information. Regions maintains an appropriate level of allowance that falls within an acceptable range of estimated losses, measured in accordance with GAAP. Management's determination of the appropriateness of the allowance is based on many factors, including, but not limited to, an evaluation and rating of the loan portfolio; historical loan loss experience; current economic conditions; collateral values securing loans; levels of problem loans; volume, growth, quality and composition of the loan portfolio; regulatory guidance; R&S economic forecasts; and other relevant factors. Changes in any of these factors, assumptions, or the availability of new information, could require that the allowance be adjusted in future periods, perhaps materially. Loss forecasting models are built on historical loss information and then applied to the current portfolio. Outputs from the loss forecasting models in combination with Regions' qualitative framework, and other analyses are used to inform management in its estimation of Regions' expected credit losses. Actual losses could vary, perhaps materially, from management’s estimates. The entire allowance is available to cover all charge-offs that arise from the loan portfolio. Regions does not estimate an allowance on interest receivable balances because the Company has non-accrual polices in place that provide for the accrual of interest to cease on a timely basis when all contractual amounts due are not expected. Regions' allowance calculation is a significant estimate. Regions uses its best judgment to assess economic conditions and loss data in estimating the allowance and these estimates are subject to periodic refinement based on changes in underlying external or internal data. Therefore, assumptions and decisions driving the estimate may change as conditions change. These assumptions and estimates are detailed below. R & S forecast period During the two-year R&S forecast period, Regions incorporates forward-looking information by utilizing its internally developed and approved Base economic forecast. The scenario is developed by the Chief Economist and approved through a formal governance process. The Base forecast considers market forward/consensus information and is consistent with the Company's organization-wide economic outlook. When appropriate, additional scenarios, including externally created scenarios, are considered as part of the determination of the allowance. Reversion period Regions utilizes an exponential reversion approach that reverts to TTC rates derived from the simple average of all historical quarterly observations for PD, LGD, EAD and prepayment rates. The length of the reversion period differs by class of financing receivable. Historical loss period Regions does not adjust historical loss information for existing economic conditions or expectations of future economic conditions for periods that are beyond the R&S period. Regions utilizes internal historical loss information; however, there are certain loan portfolios that also benefit from the use of external or other reference data due to identified limitations with internal historical data. Contractual life Regions estimates expected credit losses over the contractual life of a loan. Regions defines contractual life for non-revolving loans as contractual maturity, net of estimated prepayments and excluding expected extensions, renewals and modifications unless an extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by Regions. Prior to 2023, the Company also deviated from contractual maturity for loans where the Company had a reasonable expectation at the reporting date that it would execute a TDR with the borrower ("RETDR"). See Note 1 in the Annual Report on Form 10-K for the year ended December 31, 2022 for a discussion of RETDRs. Contractual life of credit card receivables Regions estimates the life of credit card receivables based on the amount and timing of payments expected to be collected. Regions' credit card allowance estimate only considers the amount of debt outstanding at the reporting date (the current position) because undrawn balances are unconditionally cancellable. Regions classifies credit card accounts into one of three payment patterns: dormant, transacting or revolving. The dormant accounts are idle, carry no balance, and do not contribute to the allowance. The transacting account holders tend to pay the entire balance due every month and are, therefore, subject to practically no interest charges. For transactor accounts, the current position balance is expected to be paid off in one quarter. The revolving accounts tend to be subject to interest charges, and their current position balance liquidates over time. The majority of Regions' credit card portfolio balances are categorized as revolvers for the purpose of the allowance. Collateral-dependent loans A loan is considered to be collateral-dependent if the borrower is experiencing financial difficulty and management expects substantial repayment of the loan through the sale or operation of the collateral. Regions' collateral-dependent consumer loans are loans secured by collateral (primarily real estate) that meet the partial charge-down requirements disclosed within this section. Regions defines significant commercial and investor real estate non-accrual loans wherein repayment is expected to be substantially from the sale or operation of collateral as collateral dependent. For any collateral-dependent loans that meet Regions' specific allowance criteria (see below), Regions will calculate the allowance based on the fair value of collateral, less estimated cost to sell (if applicable). For collateral-dependent consumer, commercial and investor real estate loans that do not meet Regions' specific allowance criteria (as described below), Regions considers the value of the collateral through the LGD component of the loss model based on collateral type. Credit enhancements Regions' estimate of credit losses reflects how credit enhancements, other than those that are freestanding contracts, mitigate expected credit losses on financial assets. In the event that a credit enhancement arrangement is considered to be a freestanding contract, Regions excludes the credit enhancement from the related loan when estimating expected credit losses. Unfunded commitments and other off-balance sheet items Regions records a liability or allowance for credit losses for the unfunded portion of a loan commitment in the event that Regions does not have the unconditional right to cancel the commitment. For an unfunded commitment to be considered unconditionally cancellable, Regions must be able to, at any time, with or without cause, refuse to extend credit. The liability is measured over the full contractual period for which Regions is exposed to credit risk through a current obligation to extend credit. In determining the liability, management considers the likelihood that funding will occur, and if funded, the related expected credit losses under the allowance model. Regions' off-balance sheet unfunded commitments in the form of home equity lines, standby letters of credit, commercial letters of credit and commercial revolving products that are deemed to be conditionally cancellable will include unfunded balances within the allowance estimate. Future advances from certain unfunded commitments and other revolving products where Regions does have the unconditional right to cancel these agreements will not be included. CALCULATION OF ALLOWANCE FOR CREDIT LOSSES Pooled allowances The allowance is measured on a collective (pool) basis when similar risk characteristics exist. Segmentation variables for commercial and investor real estate segments include product, loan size, collateral type, risk rating and term. Segmentation variables considered for consumer segments include product, FICO, LTV, age, etc. The allowance is estimated for most portfolios and classes using econometric models to estimate expected credit losses. In general, discounted cash flow models are not used for the purpose of estimating expected losses for the purpose of the ACL. Most of the econometric models include PD, LGD, and EAD components. Less complex estimation methods are used for smaller loan portfolios. Specific allowances Due to their size, complexity and individualized risk characteristics and monitoring, the allowance for significant non-accrual commercial and investor real estate loans and unfunded commitments is measured on an individual basis. Loans evaluated individually are not included in the collective evaluation. Regions generally measures the allowance for these loans based on the present value of estimated cash flows, considering all facts and circumstances specific to the borrower and market and economic conditions. The allowance measurement for collateral-dependent loans that meet the individually evaluated threshold is based on the fair value less cost to sell, if applicable. TDRs and RETDRs In periods prior to 2023, loans identified as TDRs and RETDRs were included in their respective loan pools (if they did not qualify for specific evaluation) and losses were determined by allowance models. The effect of the interest rate concession on these loans was considered through a post-model adjustment. Qualitative framework While quantitative allowance methodologies strive to reflect all risk factors, any estimate involves assumptions and uncertainties resulting in some level of imprecision. Imprecision exists in the estimation process due to the inherent time lag between obtaining information, performing the calculation, as well as variations between estimates and actual outcomes. Regions adjusts the allowance considering quantitative and qualitative factors which may not be directly measured in the modeled calculations. Regions' qualitative framework provides for specific quantitatively supported model adjustments and general imprecision adjustments. Specific model adjustments capture highly specific issues or events that Regions believes are not adequately captured in model outcomes. General imprecision adjustments address other sources of imprecision that are not specifically identifiable or quantifiable to a particular loan portfolio and have not been captured by the model or by a specific model adjustment. Regions considers general imprecision in three dimensions; economic forecast imprecision, model imprecision, and process imprecision. Refer to Note 5 for further discussion regarding the calculation of the allowance for credit losses. LEASES LESSEES Regions' lease portfolio is primarily composed of property leases that are classified as operating leases. Property leases, which primarily include office locations and retail branches, typically have original lease terms ranging from 1 year to 20 years, some of which may also include an option to extend the lease beyond the original lease term. In some circumstances, Regions may also have an option to terminate the lease early with advance notice. Regions includes renewal and termination options within the lease term if deemed reasonably certain of exercise. As most leases do not state an implicit rate, Regions utilizes the incremental borrowing rate based on information available at the lease commencement date to determine the present value of lease payments. Leases with a term of 12 months or less are not recorded on the balance sheet. Regions continues to recognize lease payments as an expense over the lease term as appropriate. Operating leases vary in term and, from time to time, include incentives and/or rent escalations. Examples of incentives include periods of “free” rent and leasehold improvement incentives. Regions recognizes incentives and escalations on a straight-line basis over the lease term as a reduction of or increase to rent expense, as applicable, within net occupancy expense in the consolidated statements of income. See Note 13 for additional information. LESSORS Regions engages in both direct financing and sales-type leasing. Regions also has a portfolio of leveraged leases. These arrangements provide equipment financing for leased assets, such as vehicles and aircraft. At the commencement date, Regions (lessor) enters into an agreement with the customer (lessee) to lease the underlying equipment for a specified lease term. The lease agreements may provide customers the option to terminate the lease by buying the equipment at fair market value at the time of termination or at the end of the lease term. Regions' equipment finance asset management group performs due diligence procedures on the lease residual and overall equipment values as part of the origination process. Regions performs lease residual value reviews on an ongoing basis. In order to manage the residual value risk inherent in some of its direct financing leases, Regions purchases residual value insu |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Variable Interest Entities Schedule Of Equity Method Investments [Abstract] | |
Variable Interest Entities | Regions is involved in various entities that are considered to be VIEs, as defined by authoritative accounting literature. Generally, a VIE is a corporation, partnership, trust or other legal structure that either does not have equity investors with substantive voting rights or has equity investors that do not provide sufficient financial resources for the entity to support its activities. The following discusses the VIEs in which Regions has a significant interest. AFFORDABLE HOUSING TAX CREDIT INVESTMENTS Regions periodically invests in various limited partnerships that sponsor affordable housing projects, which are funded through a combination of debt and equity. These partnerships meet the definition of a VIE. Regions uses the proportional amortization method to account for these investments. Due to the nature of the management activities of the general partner, Regions is not the primary beneficiary of these partnerships. See Note 1 for additional details. Additionally, Regions has loans or letters of credit commitments with certain limited partnerships. The funded portion of the loans and letters of credit are classified as commercial and industrial loans or investor real estate loans as applicable in Note 4 . A summary of Regions’ affordable housing tax credit investments and related loans and letters of credit, representing Regions’ maximum exposure to loss as of December 31 is as follows: 2023 2022 (In millions) Affordable housing tax credit investments included in other assets $ 1,415 $ 1,238 Unfunded affordable housing tax credit commitments included in other liabilities 592 511 Loans and letters of credit commitments 730 598 Funded portion of loans and letters of credit commitments 395 282 2023 2022 2021 (In millions) Tax credits and other tax benefits recognized $ 207 $ 180 $ 165 Tax credit amortization expense included in income tax expense 166 149 139 In addition to the investments discussed above, Regions also syndicates affordable housing investments. In these syndication transactions, Regions creates affordable housing funds in which a subsidiary is the general partner or managing member and sells limited partnership interests to third parties. Regions' general partner or managing member interest represents an insignificant interest in the affordable housing fund. The affordable housing funds meet the definition of a VIE. As Regions is not the primary beneficiary and does not have a significant interest, these investments are not consolidated. At December 31, 2023 and 2022, the value of Regions’ general partnership interest in affordable housing investments was immaterial. |
Debt Securities
Debt Securities | 12 Months Ended |
Dec. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | mortized cost, gross unrealized gains and losses, and estimated fair value of debt securities held to maturity and debt securities available for sale are as follows: December 31, 2023 Recognized in OCI (1) Not recognized in OCI Amortized Gross Unrealized Gains Gross Unrealized Losses Carrying Value Gross Gross Estimated (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ 247 $ — $ (8) $ 239 $ — $ (16) $ 223 Commercial agency 516 — (1) 515 — (22) 493 $ 763 $ — $ (9) $ 754 $ — $ (38) $ 716 Debt securities available for sale: U.S. Treasury securities $ 1,322 $ — $ (99) $ 1,223 $ 1,223 Federal agency securities 1,085 4 (46) 1,043 1,043 Obligations of states and political subdivisions 2 — — 2 2 Mortgage-backed securities: Residential agency 19,450 52 (2,130) 17,372 17,372 Commercial agency 7,807 2 (502) 7,307 7,307 Commercial non-agency 93 — (10) 83 83 Corporate and other debt securities 1,105 4 (35) 1,074 1,074 $ 30,864 $ 62 $ (2,822) $ 28,104 $ 28,104 December 31, 2022 Recognized in OCI (1) Not recognized in OCI Amortized Gross Unrealized Gains Gross Unrealized Losses Carrying Value Gross Gross Estimated (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ 289 $ — $ (10) $ 279 $ — $ (21) $ 258 Commercial agency 523 — (1) 522 — (29) 493 $ 812 $ — $ (11) $ 801 $ — $ (50) $ 751 Debt securities available for sale: U.S. Treasury securities $ 1,310 $ — $ (123) $ 1,187 $ 1,187 Federal agency securities 898 — (62) 836 836 Obligations of states and political subdivisions 2 — — 2 2 Mortgage-backed securities: Residential agency 19,477 — (2,523) 16,954 16,954 Residential non-agency 1 — — 1 1 Commercial agency 8,262 — (649) 7,613 7,613 Commercial non-agency 198 — (12) 186 186 Corporate and other debt securities 1,219 1 (66) 1,154 1,154 $ 31,367 $ 1 $ (3,435) $ 27,933 $ 27,933 _________ (1) The gross unrealized losses recognized in OCI on securities held to maturity resulted from a transfer of securities available for sale to held to maturity in the second quarter of 2013. Debt securities with carrying values of $24.0 billion and $8.8 billion at December 31, 2023 and December 31, 2022, respectively, were pledged to secure public funds, trust deposits and other borrowing arrangements. The amortized cost and estimated fair value of debt securities held to maturity and debt securities available for sale at December 31, 2023, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Estimated (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ 247 $ 223 Commercial agency 516 493 $ 763 $ 716 Debt securities available for sale: Due in one year or less $ 369 $ 363 Due after one year through five years 2,600 2,455 Due after five years through ten years 390 384 Due after ten years 155 140 Mortgage-backed securities: Residential agency 19,450 17,372 Commercial agency 7,807 7,307 Commercial non-agency 93 83 $ 30,864 $ 28,104 The following tables present gross unrealized losses and the related estimated fair value of debt securities held to maturity and debt securities available for sale at December 31, 2023 and December 31, 2022. For debt securities transferred to held to maturity from available for sale, the analysis in the tables below compares the securities' original amortized cost to its current estimated fair value. All securities in an unrealized position are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more. December 31, 2023 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ — $ — $ 223 $ (23) $ 223 $ (23) Commercial agency — — 493 (23) 493 (23) $ — $ — $ 716 $ (46) $ 716 $ (46) Debt securities available for sale: U.S Treasury securities $ 6 $ — $ 1,201 $ (99) $ 1,207 $ (99) Federal agency securities 237 (5) 666 (41) 903 (46) Mortgage-backed securities: Residential agency 241 (3) 15,144 (2,127) 15,385 (2,130) Commercial agency 612 (7) 6,583 (495) 7,195 (502) Commercial non-agency — — 82 (10) 82 (10) Corporate and other debt securities 23 — 879 (35) 902 (35) $ 1,119 $ (15) $ 24,555 $ (2,807) $ 25,674 $ (2,822) December 31, 2022 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ 251 $ (29) $ 7 $ (1) $ 258 $ (30) Commercial agency 469 (26) 24 (4) 493 (30) $ 720 $ (55) $ 31 $ (5) $ 751 $ (60) Debt securities available for sale: U.S. Treasury securities $ 276 $ (8) $ 903 $ (115) $ 1,179 $ (123) Federal agency securities 766 (50) 53 (12) 819 (62) Mortgage-backed securities: Residential agency 9,350 (1,005) 7,578 (1,518) 16,928 (2,523) Commercial agency 6,110 (400) 1,503 (249) 7,613 (649) Commercial non-agency 141 (8) 45 (4) 186 (12) Corporate and other debt securities 736 (36) 354 (30) 1,090 (66) $ 17,379 $ (1,507) $ 10,436 $ (1,928) $ 27,815 $ (3,435) The number of individual debt positions in an unrealized loss position in the tables above decreased to 1,703 at December 31, 2023 from 1,806 at December 31, 2022. The decrease in the number of securities and the total amount of unrealized losses from year-end 2022 was due to maturities in the portfolio along with no reinvestment for a portion of 2023. The decrease in the total amount of unrealized losses was also impacted by changes in market interest rates. In instances where an unrealized loss existed, there was no indication of an adverse change in credit on the underlying positions in the tables above. As it relates to these positions, management believes no individual unrealized loss represented credit impairment as of those dates. At December 31, 2023, the Company does not intend to sell, and it is not more likely than not that the Company will be required to sell, the positions before the recovery of their amortized cost bases, which may be at maturity. Gross realized gains and gross realized losses on sales of debt securities available for sale were immaterial for 2023, 2022 and 2021. The cost of securities sold is based on the specific identification method. As part of the Company's normal process for evaluating impairment, credit-related impairment identified by management was immaterial for 2023. No credit-related impairment was identified by management for 2022 and 2021. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
Loans | NOTE 4. LOANS The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income as of December 31: 2023 2022 (In millions) Commercial and industrial $ 50,865 $ 50,905 Commercial real estate mortgage—owner-occupied 4,887 5,103 Commercial real estate construction—owner-occupied 281 298 Total commercial 56,033 56,306 Commercial investor real estate mortgage 6,605 6,393 Commercial investor real estate construction 2,245 1,986 Total investor real estate 8,850 8,379 Residential first mortgage 20,207 18,810 Home equity lines 3,221 3,510 Home equity loans 2,439 2,489 Consumer credit card 1,341 1,248 Other consumer—exit portfolio 43 570 Other consumer 6,245 5,697 Total consumer 33,496 32,324 Total loans, net of unearned income (1) $ 98,379 $ 97,009 _________ (1) Loans are presented net of unearned income, unamortized discounts and premiums and deferred loan fees and costs of $965 million and $894 million at December 31, 2023 and December 31, 2022. See Note 13 for details regarding Regions’ investment in sales-type, direct financing, and leveraged leases included within the commercial and industrial loan portfolio. |
Allowance for Credit Losses
Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
Allowance for Credit Losses | NOTE 5. ALLOWANCE FOR CREDIT LOSSES ALLOWANCE FOR CREDIT LOSSES Regions determines the appropriate level of the allowance on a quarterly basis. Refer to Note 1 in the Annual Report on Form 10-K for the year ended December 31, 2022, for a description of the methodology prior to the adoption of modifications to troubled borrowers accounting on January 1, 2023. Reflected in the 2023 allowance is the impact of the sale of $284 million of consumer loans in a portfolio of third party relationship loans in the fourth quarter of 2023. In conjunction with the sale, the Company recognized a $35 million fair value mark recorded through charge-offs resulting in a net provision benefit of $27 million and a loss on sale of $8 million. Reflected in the 2022 allowance is the impact of the sale of $1.2 billion of unsecured consumer loans at the end of the third quarter of 2022 with an associated allowance of $94 million. In conjunction with the sale, the Company recognized a $63 million fair value mark recorded through charge-offs resulting in a net provision benefit of $31 million. ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES The following tables present analyses of the allowance for credit losses by portfolio segment for December 31, 2023, 2022 and 2021. 2023 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, December 31, 2022 $ 665 $ 121 $ 678 $ 1,464 Cumulative effect of accounting guidance (1) (3) (3) (32) (38) Allowance for loan losses, January 1, 2023 (adjusted for change in accounting guidance) 662 118 646 $ 1,426 Provision for loan losses 205 74 268 547 Loan losses: Charge-offs (197) — (293) (490) Recoveries 52 — 41 93 Net loan (losses) recoveries (145) — (252) (397) Allowance for loan losses, December 31, 2023 722 192 662 1,576 Reserve for unfunded credit commitments, January 1, 2023 72 21 25 118 Provision for (benefit from) unfunded credit losses 20 (8) (6) 6 Reserve for unfunded credit commitments, December 31, 2023 92 13 19 124 Allowance for credit losses, December 31, 2023 $ 814 $ 205 $ 681 $ 1,700 2022 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, January 1, 2022 $ 682 $ 79 $ 718 $ 1,479 Provision for loan losses 40 45 163 248 Loan losses: Charge-offs (107) (5) (263) (375) Recoveries 50 2 60 112 Net loan (losses) recoveries (57) (3) (203) (263) Allowance for loan losses, December 31, 2022 665 121 678 1,464 Reserve for unfunded credit commitments, January 1, 2022 58 8 29 95 Provision for (benefit from) unfunded credit losses 14 13 (4) 23 Reserve for unfunded credit commitments, December 31, 2022 72 21 25 118 Allowance for credit losses, December 31, 2022 $ 737 $ 142 $ 703 $ 1,582 2021 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, January 1, 2021 $ 1,196 $ 183 $ 788 $ 2,167 Provision for (benefit from) loan losses (445) (87) 39 (493) Initial allowance on acquired PCD loans — — 9 9 Loan losses: Charge-offs (128) (20) (180) (328) Recoveries 59 3 62 124 Net loan (losses) recoveries (69) (17) (118) (204) Allowance for loan losses, December 31, 2021 682 79 718 1,479 Reserve for unfunded credit commitments, January 1, 2021 97 14 15 126 Provision for (benefit from) unfunded credit losses (39) (6) 14 (31) Reserve for unfunded credit commitments, December 31, 2021 58 8 29 95 Allowance for credit losses, December 31, 2021 $ 740 $ 87 $ 747 $ 1,574 _____ (1) See Note 1 for additional information. PORTFOLIO SEGMENT RISK FACTORS The following describe the risk characteristics relevant to each of the portfolio segments. Commercial —The commercial portfolio segment includes commercial and industrial loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases or other expansion projects. Commercial also includes owner-occupied commercial real estate mortgage loans to operating businesses, which are loans for long-term financing on land and buildings, and are repaid by cash flow generated by business operations. Owner-occupied commercial real estate construction loans are made to commercial businesses for the development of land or construction of a building where the repayment is derived from revenues generated from the business of the borrower. Collection risk in this portfolio is driven by the creditworthiness of underlying borrowers, particularly cash flow from customers’ business operations, and is impacted by sensitivity to several other factors, such as market fluctuations in commodity prices. Investor Real Estate —Loans for real estate development are repaid through cash flow related to the operation, sale or refinance of the property. This portfolio segment includes extensions of credit to real estate developers or investors where repayment is dependent on the sale of real estate or income generated from the real estate collateral. A portion of Regions’ investor real estate portfolio segment consists of loans secured by residential product types (land, single-family and condominium loans) within Regions’ markets. Additionally, this category includes loans made to finance income-producing properties such as apartment buildings, office and industrial buildings, and retail shopping centers. Loans in this portfolio segment are particularly sensitive to the valuation of real estate. Consumer —The consumer portfolio segment includes residential first mortgage, home equity lines, home equity loans, consumer credit card, other consumer—exit portfolios and other consumer loans. Residential first mortgage loans represent loans to consumers to finance a residence. These loans are typically financed over a 15 to 30 year term and, in most cases, are extended to borrowers to finance their primary residence. Home equity lending includes both home equity loans and lines of credit. This type of lending, which is secured by a first or second mortgage on the borrower’s residence, allows customers to borrow against the equity in their home. Real estate market values as of the time the loan or line is secured directly affect the amount of credit extended and, in addition, changes in these values impact the depth of potential losses. Consumer credit card lending includes Regions branded consumer credit card accounts. Other consumer—exit portfolios includes lending initiatives through third parties consisting of loans made through automotive dealerships. Regions ceased originating new loans related to these businesses prior to 2020. Other consumer loans include other revolving consumer accounts, indirect and direct consumer loans, and overdrafts. Loans in this portfolio segment are sensitive to unemployment, inflation, and other key consumer economic measures. CREDIT QUALITY INDICATORS The following tables present credit quality indicators for the loan portfolio segments and classes, excluding loans held for sale, as of December 31, 2023 and 2022. The commercial and investor real estate portfolio segments' primary credit quality indicator is internal risk ratings which are detailed by categories related to underlying credit quality and probability of default. Regions assigns these risk ratings at loan origination and reviews the relationship utilizing a risk-based approach on, at minimum, an annual basis or at any time management becomes aware of information affecting the borrowers' ability to fulfill their obligations. Both quantitative and qualitative factors are considered in this review process. These categories are utilized to develop the associated allowance for credit losses. • Pass—includes obligations where the probability of default is considered low; • Special Mention—includes obligations that have potential weakness that may, if not reversed or corrected, weaken the credit or inadequately protect the Company’s position at some future date. Obligations in this category may also be subject to economic or market conditions that may, in the future, have an adverse effect on debt service ability; • Substandard Accrual—includes obligations that exhibit a well-defined weakness that presently jeopardizes debt repayment, even though they are currently performing. These obligations are characterized by the distinct possibility that the Company may incur a loss in the future if these weaknesses are not corrected; • Non-accrual—includes obligations where management has determined that full payment of principal and interest is in doubt. Substandard accrual and non-accrual loans are often collectively referred to as “classified.” Special mention, substandard accrual, and non-accrual loans are often collectively referred to as “criticized and classified.” Regions considers factors such as periodic updates of FICO scores, accrual status, days past due status, unemployment rates, home prices, and geography as credit quality indicators for the consumer loan portfolio. FICO scores are obtained at origination as part of Regions' formal underwriting process. Refreshed FICO scores are obtained by the Company quarterly for all consumer loans, including residential first mortgage loans. Current FICO data is not available for certain loans in the portfolio for various reasons; for example, if customers do not use sufficient credit, an updated score may not be available. These categories are utilized to develop the associated allowance for credit losses. The higher the FICO score the less probability of default and vice versa. The disclosure of credit quality indicators for loan portfolio segments and classes, excluding loans held for sale, is presented by credit quality indicator by vintage year. Gross charge-offs are also presented by vintage year for the twelve months ended December 31, 2023 as a result of the prospective adoption of new accounting guidance. Regions defines the vintage date for the purposes of disclosure as the date of the most recent credit decision. In general, renewals are categorized as new credit decisions and reflect the renewal date as the vintage date. Prior to the adoption of new accounting guidance, 2022 disclosures reflect loans that are modified as a TDR are considered to be a continuation of the original loan, therefore the origination date of the original loan is reflected as the vintage date. The following tables present applicable credit quality indicators for the loan portfolio segments and classes, excluding loans held for sale, as of December 31, 2023 and 2022. Classes in the commercial and investor real estate portfolio segments are disclosed by risk rating. Classes in the consumer portfolio segment are disclosed by current FICO scores. December 31, 2023 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2023 2022 2021 2020 2019 Prior (In millions) Commercial and industrial: Risk rating: Pass $ 8,272 $ 9,123 $ 5,267 $ 2,326 $ 1,376 $ 3,210 $ 18,561 $ — $ 53 $ 48,188 Special Mention 87 186 71 109 26 90 484 — — 1,053 Substandard Accrual 141 212 74 38 7 3 678 — — 1,153 Non-accrual 128 102 37 6 20 10 168 — — 471 Total commercial and industrial $ 8,628 $ 9,623 $ 5,449 $ 2,479 $ 1,429 $ 3,313 $ 19,891 $ — $ 53 $ 50,865 Gross charge-offs $ 12 $ 57 $ 55 $ 28 $ 15 $ 16 $ 12 $ — $ — $ 195 December 31, 2023 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2023 2022 2021 2020 2019 Prior (In millions) Commercial real estate mortgage—owner-occupied: Risk rating: Pass $ 799 $ 954 $ 988 $ 658 $ 343 $ 801 $ 76 $ — $ (5) $ 4,614 Special Mention 21 13 33 20 7 13 14 — — 121 Substandard Accrual 3 34 32 14 8 24 1 — — 116 Non-accrual 4 3 10 8 3 8 — — — 36 Total commercial real estate mortgage—owner-occupied: $ 827 $ 1,004 $ 1,063 $ 700 $ 361 $ 846 $ 91 $ — $ (5) $ 4,887 Gross charge-offs $ 1 $ — $ — $ — $ — $ 1 $ — $ — $ — $ 2 Commercial real estate construction—owner-occupied: Risk rating: Pass $ 89 $ 53 $ 44 $ 24 $ 11 $ 38 $ 3 $ — $ — $ 262 Special Mention — 7 — — — 1 — — — 8 Substandard Accrual — 1 — 1 — 1 — — — 3 Non-accrual 2 — — 2 — 4 — — — 8 Total commercial real estate construction—owner-occupied: $ 91 $ 61 $ 44 $ 27 $ 11 $ 44 $ 3 $ — $ — $ 281 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Total commercial $ 9,546 $ 10,688 $ 6,556 $ 3,206 $ 1,801 $ 4,203 $ 19,985 $ — $ 48 $ 56,033 Gross commercial charge-offs $ 13 $ 57 $ 55 $ 28 $ 15 $ 17 $ 12 $ — $ — $ 197 Commercial investor real estate mortgage: Risk rating: Pass $ 1,130 $ 1,587 $ 1,135 $ 488 $ 296 $ 110 $ 383 $ — $ (4) $ 5,125 Special Mention 269 247 52 59 30 — 90 — — 747 Substandard Accrual 134 197 — 67 67 3 32 — — 500 Non-accrual 99 57 37 — 12 28 — — — 233 Total commercial investor real estate mortgage $ 1,632 $ 2,088 $ 1,224 $ 614 $ 405 $ 141 $ 505 $ — $ (4) $ 6,605 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial investor real estate construction: Risk rating: Pass $ 256 $ 836 $ 280 $ 26 $ 2 $ 1 $ 649 $ — $ (15) $ 2,035 Special Mention — 122 — — — — 59 — — 181 Substandard Accrual — 25 — — — — 4 — — 29 Non-accrual — — — — — — — — — — Total commercial investor real estate construction $ 256 $ 983 $ 280 $ 26 $ 2 $ 1 $ 712 $ — $ (15) $ 2,245 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Total investor real estate $ 1,888 $ 3,071 $ 1,504 $ 640 $ 407 $ 142 $ 1,217 $ — $ (19) $ 8,850 Gross investor real estate charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential first mortgage: FICO scores: Above 720 $ 1,939 $ 2,863 $ 4,358 $ 4,390 $ 816 $ 2,353 $ — $ — $ — $ 16,719 681-720 226 298 355 255 52 294 — — — 1,480 620-680 86 153 153 112 43 270 — — — 817 Below 620 21 90 122 87 53 389 — — — 762 Data not available 33 16 49 46 11 92 1 — 181 429 Total residential first mortgage $ 2,305 $ 3,420 $ 5,037 $ 4,890 $ 975 $ 3,398 $ 1 $ — $ 181 $ 20,207 Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ — $ 1 December 31, 2023 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2023 2022 2021 2020 2019 Prior (In millions) Home equity lines: FICO scores: Above 720 $ — $ — $ — $ — $ — $ — $ 2,399 $ 45 $ — $ 2,444 681-720 — — — — — — 346 11 — 357 620-680 — — — — — — 184 9 — 193 Below 620 — — — — — — 97 7 — 104 Data not available — — — — — — 85 5 33 123 Total home equity lines $ — $ — $ — $ — $ — $ — $ 3,111 $ 77 $ 33 $ 3,221 Gross charge-offs $ — $ — $ — $ — $ — $ — $ 3 $ — $ — $ 3 Home equity loans: FICO scores: Above 720 $ 322 $ 370 $ 397 $ 205 $ 93 $ 529 $ — $ — $ — $ 1,916 681-720 53 62 49 22 14 60 — — — 260 620-680 19 27 23 8 8 52 — — — 137 Below 620 2 8 12 5 7 35 — — — 69 Data not available 1 4 5 3 3 25 — — 16 57 Total home equity loans $ 397 $ 471 $ 486 $ 243 $ 125 $ 701 $ — $ — $ 16 $ 2,439 Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ — $ 1 Consumer credit card: FICO scores: Above 720 $ — $ — $ — $ — $ — $ — $ 780 $ — $ — $ 780 681-720 — — — — — — 254 — — 254 620-680 — — — — — — 210 — — 210 Below 620 — — — — — — 95 — — 95 Data not available — — — — — — 20 — (18) 2 Total consumer credit card $ — $ — $ — $ — $ — $ — $ 1,359 $ — $ (18) $ 1,341 Gross charge-offs $ — $ — $ — $ — $ — $ — $ 52 $ — $ — $ 52 Other consumer—exit portfolios: FICO scores: Above 720 $ — $ — $ — $ — $ 2 $ 22 $ — $ — $ — $ 24 681-720 — — — — 1 4 — — — 5 620-680 — — — — — 5 — — — 5 Below 620 — — — — 1 7 — — — 8 Data not available — — — — — 1 — — — 1 Total other consumer—exit portfolios $ — $ — $ — $ — $ 4 $ 39 $ — $ — $ — $ 43 Gross charge-offs $ — $ — $ — $ — $ 19 $ 31 $ — $ — $ — $ 50 December 31, 2023 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2023 2022 2021 2020 2019 Prior (In millions) Other consumer (2) : FICO scores: Above 720 $ 1,312 $ 1,519 $ 501 $ 284 $ 155 $ 118 $ 119 $ — $ — $ 4,008 681-720 270 409 136 74 34 29 67 — — 1,019 620-680 178 294 103 50 21 20 53 — — 719 Below 620 52 147 65 31 14 13 30 — — 352 Data not available 94 10 7 5 114 65 1 — (149) 147 Total other consumer $ 1,906 $ 2,379 $ 812 $ 444 $ 338 $ 245 $ 270 $ — $ (149) $ 6,245 Gross charge-offs $ 59 $ 57 $ 32 $ 17 $ 9 $ 12 $ — $ — $ — $ 186 Total consumer loans $ 4,608 $ 6,270 $ 6,335 $ 5,577 $ 1,442 $ 4,383 $ 4,741 $ 77 $ 63 $ 33,496 Gross consumer charge-offs $ 59 $ 57 $ 32 $ 17 $ 28 $ 45 $ 55 $ — $ — $ 293 Total Loans $ 16,042 $ 20,029 $ 14,395 $ 9,423 $ 3,650 $ 8,728 $ 25,943 $ 77 $ 92 $ 98,379 Total Gross charge-offs $ 72 $ 114 $ 87 $ 45 $ 43 $ 62 $ 67 $ — $ — $ 490 December 31, 2022 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2022 2021 2020 2019 2018 Prior (In millions) Commercial and industrial: Risk rating: Pass $ 11,948 $ 7,167 $ 3,277 $ 2,297 $ 1,026 $ 3,283 $ 19,599 $ — $ 313 $ 48,910 Special Mention 85 120 70 30 32 1 282 — — 620 Substandard Accrual 248 114 39 57 53 17 500 — — 1,028 Non-accrual 95 55 11 9 36 6 135 — — 347 Total commercial and industrial $ 12,376 $ 7,456 $ 3,397 $ 2,393 $ 1,147 $ 3,307 $ 20,516 $ — $ 313 $ 50,905 Commercial real estate mortgage—owner-occupied: Risk rating: Pass $ 1,058 $ 1,175 $ 929 $ 479 $ 519 $ 626 $ 89 $ — $ (5) $ 4,870 Special Mention 7 32 17 10 15 12 2 — — 95 Substandard Accrual 10 16 36 35 5 6 1 — — 109 Non-accrual 1 2 9 1 5 11 — — — 29 Total commercial real estate mortgage—owner-occupied: $ 1,076 $ 1,225 $ 991 $ 525 $ 544 $ 655 $ 92 $ — $ (5) $ 5,103 Commercial real estate construction—owner-occupied: Risk rating: Pass $ 115 $ 79 $ 22 $ 15 $ 15 $ 38 $ 1 $ — $ — $ 285 Special Mention — — — — 2 — — — — 2 Substandard Accrual 2 — 2 — — 1 — — — 5 Non-accrual — — 1 1 — 4 — — — 6 Total commercial real estate construction—owner-occupied: $ 117 $ 79 $ 25 $ 16 $ 17 $ 43 $ 1 $ — $ — $ 298 Total commercial $ 13,569 $ 8,760 $ 4,413 $ 2,934 $ 1,708 $ 4,005 $ 20,609 $ — $ 308 $ 56,306 December 31, 2022 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2022 2021 2020 2019 2018 Prior (In millions) Commercial investor real estate mortgage: Risk rating: Pass $ 2,332 $ 1,321 $ 634 $ 466 $ 257 $ 94 $ 490 $ — $ (7) $ 5,587 Special Mention 229 75 — 18 — 3 38 — — 363 Substandard Accrual 107 — 74 138 68 3 — — — 390 Non-accrual 52 — — — — 1 — — — 53 Total commercial investor real estate mortgage $ 2,720 $ 1,396 $ 708 $ 622 $ 325 $ 101 $ 528 $ — $ (7) $ 6,393 Commercial investor real estate construction: Risk rating: Pass $ 458 $ 402 $ 205 $ 112 $ — $ 1 $ 722 $ — $ (16) $ 1,884 Special Mention 25 52 — — — — 5 — — 82 Substandard Accrual 3 — 17 — — — — — — 20 Non-accrual — — — — — — — — — — Total commercial investor real estate construction $ 486 $ 454 $ 222 $ 112 $ — $ 1 $ 727 $ — $ (16) $ 1,986 Total investor real estate $ 3,206 $ 1,850 $ 930 $ 734 $ 325 $ 102 $ 1,255 $ — $ (23) $ 8,379 Residential first mortgage: FICO scores: Above 720 $ 2,485 $ 4,455 $ 4,765 $ 899 $ 327 $ 2,445 $ — $ — $ — $ 15,376 681-720 337 412 313 83 42 300 — — — 1,487 620-680 168 183 129 53 34 295 — — — 862 Below 620 42 92 77 52 40 379 — — — 682 Data not available 27 45 47 13 4 98 2 — 167 403 Total residential first mortgage $ 3,059 $ 5,187 $ 5,331 $ 1,100 $ 447 $ 3,517 $ 2 $ — $ 167 $ 18,810 Home equity lines: FICO scores: Above 720 $ — $ — $ — $ — $ — $ — $ 2,620 $ 47 $ — $ 2,667 681-720 — — — — — — 369 12 — 381 620-680 — — — — — — 212 11 — 223 Below 620 — — — — — — 99 8 — 107 Data not available — — — — — — 97 4 31 132 Total home equity lines $ — $ — $ — $ — $ — $ — $ 3,397 $ 82 $ 31 $ 3,510 Home equity loans FICO scores: Above 720 $ 436 $ 466 $ 250 $ 117 $ 106 $ 582 $ — $ — $ — $ 1,957 681-720 75 62 26 17 14 67 — — — 261 620-680 29 28 11 12 9 58 — — — 147 Below 620 4 8 4 5 7 38 — — — 66 Data not available 4 3 3 3 4 24 — — 17 58 Total home equity loans $ 548 $ 567 $ 294 $ 154 $ 140 $ 769 $ — $ — $ 17 $ 2,489 Consumer credit card: FICO scores: Above 720 $ — $ — $ — $ — $ — $ — $ 719 $ — $ — $ 719 681-720 — — — — — — 246 — — 246 620-680 — — — — — — 204 — — 204 Below 620 — — — — — — 86 — — 86 Data not available — — — — — — 9 — (16) (7) Total consumer credit card $ — $ — $ — $ — $ — $ — $ 1,264 $ — $ (16) $ 1,248 December 31, 2022 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2022 2021 2020 2019 2018 Prior (In millions) Other consumer- exit portfolios: FICO scores: Above 720 $ — $ — $ — $ 102 $ 172 $ 96 $ — $ — $ — $ 370 681-720 — — — 30 40 23 — — — 93 620-680 — — — 17 30 17 — — — 64 Below 620 — — — 7 17 10 — — — 34 Data not available — — — 1 3 3 — — 2 9 Total other consumer- exit portfolios $ — $ — $ — $ 157 $ 262 $ 149 $ — $ — $ 2 $ 570 Other consumer (2) : FICO scores: Above 720 $ 2,072 $ 674 $ 382 $ 215 $ 99 $ 80 $ 119 $ — $ — $ 3,641 681-720 493 200 106 50 23 20 66 — — 958 620-680 348 153 73 34 19 15 55 — — 697 Below 620 102 69 38 20 12 8 23 — — 272 Data not available 61 6 5 130 73 5 2 — (153) 129 Total other consumer $ 3,076 $ 1,102 $ 604 $ 449 $ 226 $ 128 $ 265 $ — $ (153) $ 5,697 Total consumer loans $ 6,683 $ 6,856 $ 6,229 $ 1,860 $ 1,075 $ 4,563 $ 4,928 $ 82 $ 48 $ 32,324 Total Loans $ 23,458 $ 17,466 $ 11,572 $ 5,528 $ 3,108 $ 8,670 $ 26,792 $ 82 $ 333 $ 97,009 ________ (1) These amounts consist of fees that are not allocated at the loan level and loans serviced by third parties wherein Regions does not receive FICO or vintage information. (2) Other consumer class includes overdrafts and related gross charge-offs. Overdrafts are included in the current vintage year and the majority of overdraft gross charge-offs for the twelve months ended December 31, 2023 are also included in the current vintage year. AGING AND NON-ACCRUAL ANALYSIS The following tables include an aging analysis of DPD and loans on non-accrual status for each portfolio segment and class as of December 31, 2023 and December 31, 2022. Loans on non-accrual status with no related allowance totaled $280 million comprised of commercial and investor real estate loans at December 31, 2023. Loans on non-accrual status with no related allowance totaled $151 million comprised of commercial loans at December 31, 2022. Non–accrual loans with no related allowance typically include loans where the underlying collateral is deemed sufficient to recover all remaining principal. Loans that have been fully charged-off do not appear in the tables below. 2023 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total Total Non-accrual Total (In millions) Commercial and industrial $ 43 $ 21 $ 11 $ 75 $ 50,394 $ 471 $ 50,865 Commercial real estate mortgage—owner-occupied 3 2 — 5 4,851 36 4,887 Commercial real estate construction—owner-occupied — 1 — 1 273 8 281 Total commercial 46 24 11 81 55,518 515 56,033 Commercial investor real estate mortgage — — 23 23 6,372 233 6,605 Commercial investor real estate construction — — — — 2,245 — 2,245 Total investor real estate — — 23 23 8,617 233 8,850 Residential first mortgage 104 48 95 247 20,185 22 20,207 Home equity lines 17 10 20 47 3,192 29 3,221 Home equity loans 10 4 7 21 2,433 6 2,439 Consumer credit card 11 8 20 39 1,341 — 1,341 Other consumer—exit portfolios 2 1 — 3 43 — 43 Other consumer 60 31 29 120 6,245 — 6,245 Total consumer 204 102 171 477 33,439 57 33,496 $ 250 $ 126 $ 205 $ 581 $ 97,574 $ 805 $ 98,379 2022 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total Total Non-accrual Total (In millions) Commercial and industrial $ 36 $ 20 $ 30 $ 86 $ 50,558 $ 347 $ 50,905 Commercial real estate mortgage—owner-occupied 7 2 1 10 5,074 29 5,103 Commercial real estate construction—owner-occupied — — — — 292 6 298 Total commercial 43 22 31 96 55,924 382 56,306 Commercial investor real estate mortgage — — 40 40 6,340 53 6,393 Commercial investor real estate construction — — — — 1,986 — 1,986 Total investor real estate — — 40 40 8,326 53 8,379 Residential first mortgage 87 45 81 213 18,779 31 18,810 Home equity lines 18 12 15 45 3,482 28 3,510 Home equity loans 8 3 8 19 2,483 6 2,489 Consumer credit card 9 7 15 31 1,248 — 1,248 Other consumer—exit portfolios 7 3 1 11 570 — 570 Other consumer 46 21 17 84 5,697 — 5,697 Total consumer 175 91 137 403 32,259 65 32,324 $ 218 $ 113 $ 208 $ 539 $ 96,509 $ 500 $ 97,009 At December 31, 2023 and December 31, 2022, the Company had collateral-dependent commercial loans of $220 million and $162 million, respectively. At December 31, 2023, the Company had collateral-dependent investor real estate loans of $92 million. The collateral for commercial and investor real estate loans generally consists of business assets including real estate, receivables and equipment. At December 31, 2023 and December 31, 2022, the Company had collateral-dependent residential mortgage and home equity loans and lines totaling $93 million and $105 million, respectively. The collateral for these loans are secured by residential real estate. MODIFICATIONS TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY The majority of Regions' commercial and investor real estate modifications to troubled borrowers are the result of renewals of classified loans wherein there has been an interest rate reduction and/or maturity extension (that is considered other than insignificant). Similarly, Regions works to meet the individual needs of troubled consumer borrowers through its CAP. Regions designed the program to allow for customer-tailored modifications with the goal of keeping customers in their homes and avoiding foreclosure where possible. Modifications may be offered to any borrower experiencing financial hardship regardless of the borrower's payment status. Consumer modifications to troubled borrowers primarily involve an interest rate reduction and/or a payment deferral or maturity extension that is considered other than insignificant. All CAP modifications that involve an interest rate reduction, principal forgiveness, other than insignificant payment deferral or term extension and/or a combination of these are disclosed as modifications to troubled borrowers because the customer documents a financial hardship in order to participate. Refer to Note 1 for additional information regarding the Company's modifications to troubled borrowers. For each portfolio segment and class, the following table presents the end of period balance of new modifications to troubled borrowers and the related percentage of the loan portfolio period-end balance by the type of modification in the twelve months ended December 31, 2023. During 2023, the Company did not make any modifications of principal forgiveness. 2023 Term Extension Payment Deferral Term Extension and Interest Rate Modification Term Extension and Payment Deferral Total $ % (1) $ % (1) $ % (1) $ % (1) $ % (1) (Dollars in millions) Commercial and industrial $ 379 0.75 % $ 139 0.27 % $ — — % $ 37 0.07 % $ 555 1.09 % Commercial real estate mortgage—owner-occupied 3 0.05 % — — % — — % — — % 3 0.06 % Commercial real estate construction—owner-occupied 2 0.67 % 1 0.15 % — — % — — % 3 0.81 % Total commercial 384 0.68 % 140 0.25 % — — % 37 0.07 % 561 1.00 % Commercial investor real estate mortgage 213 3.23 % — — % — — % — — % 213 3.23 % Total investor real estate 213 2.41 % — — % — — % — — % 213 2.41 % Residential first mortgage 94 0.46 % 2 0.01 % 3 0.02 % — — % 99 0.49 % Home equity lines 1 0.02 % — — % 4 0.11 % — — % 5 0.13 % Home equity loans 4 0.17 % — — % 5 0.18 % — — % 9 0.35 % Total consumer 99 0.29 % 2 0.01 % 12 0.03 % — — % 113 0.34 % $ 696 0.71 % $ 142 0.14 % $ 12 0.01 % $ 37 0.04 % $ 887 0.90 % ____ (1) Amounts calculated based upon whole dollar values. The end of period balance of unfunded commitments related to modifications to troubled borrowers in the twelve months ended December 31, 2023, was $106 million for commercial borrowers. Unfunded commitment balances for modifications to troubled borrowers for investor real estate and consumer loans were immaterial. The following table presents the financial impact of modifications to troubled borrowers during 2023 by portfolio segment, class of financing receivable, and the type of modification. The table includes new modifications to troubled borrowers, as well as renewals of existing modifications to troubled borrowers. 2023 Term Extension Payment Deferral Term Extension and Interest Rate Modification Term Extension and Payment Deferral Weighted-Average Term Extension Weighted-Average Payment Deferral Weighted-Average Term Extension Weighted-Average Reduction in Interest Rate Weighted-Average Term Extension Weighted-Average Payment Deferral (In years, except for percentage data) Commercial and industrial 1 0.5 — — 3 3 Commercial real estate mortgage—owner-occupied 1.50 — — — — — Commercial real estate construction—owner-occupied 0.25 — — — — — Commercial investor real estate mortgage 0.83 — — — — — Residential first mortgage 6 0.83 7 1 % — — Home equity lines 18 — 21 1 % — — Home equity loans 14 — 17 2 % — — In addition to the financial impacts in the table above, during the twelve months ended December 31, 2023, there were instances of commercial and industrial payment deferrals in which the amortization period was doubled to maturity. The following table includes the end of period balances of aging and non-accrual performance for modifications to troubled borrowers modified in the twelve-month period since the adoption of related accounting guidance by portfolio segment and class. 2023 Current 30-89 DPD 90+ DPD Non-Performing Loans Total (In millions) Commercial and industrial $ 355 $ — $ 5 $ 195 $ 555 Commercial real estate mortgage—owner-occupied 1 — — 2 3 Commercial real estate construction—owner-occupied — — — 3 3 Total commercial 356 — 5 200 561 Commercial investor real estate mortgage 151 — — 62 213 Total investor real estate 151 — — 62 213 Residential first mortgage 75 16 5 3 99 Home equity lines 5 — — — 5 Home equity loans 6 1 — 2 9 Total consumer 86 17 5 5 113 $ 593 $ 17 $ 10 $ 267 $ 887 For modifications to troubled borrowers, a subsequent payment default is defined in terms of delinquency, when a principal or interest payment is 90 days past due or classified as non-accrual status during the reporting period. As of December 31, 2023, subsequent defaults of the loans restructured as a modification to a troubled borrower during the twelve-month period ended December 31, 2023 totaled $116 million. Prior to the Company’s adoption of new guidance related to modifications to borrowers experiencing financial difficulty, Regions accounted for loans in which the borrower was experiencing financial difficulty at the modification date and wherein Regions had granted a concession to the borrower as a TDR. Like modifications to troubled borrowers, TDRs were undertaken in order to improve the likelihood of repayment of a loan. However, TDR modifications were different because they may have had a stated interest rate lower than the current market rate for new debt with similar risk, other modifications to the structure of the loan that fell outside of normal underwriting policies and procedures, or in limited circumstances forgiveness of principal and/or interest. Refer to Note 1 and Note 5 in the Annual Report on Form 10-K for the year ended December 31, 2022 for additional information. The following table presents the end of period balance for loans modified in a TDR during the period presented by portfolio segment and class, and the financial impact of those modifications. The table includes modifications made to new TDRs, as well as renewals of existing TDRs. |
Servicing of Financial Assets
Servicing of Financial Assets | 12 Months Ended |
Dec. 31, 2023 | |
Transfers and Servicing of Financial Assets [Abstract] | |
Servicing of Financial Assets | NOTE 6. SERVICING OF FINANCIAL ASSETS RESIDENTIAL MORTGAGE BANKING ACTIVITIES The fair value of residential MSRs is calculated using various assumptions including future cash flows, market discount rates, expected prepayment rates, servicing costs and other factors. A significant change in prepayments of mortgages in the servicing portfolio could result in significant changes in the valuation adjustments, thus creating potential volatility in the carrying amount of residential MSRs. The Company compares fair value estimates and assumptions to observable market data where available, and also considers recent market activity and actual portfolio experience. The table below presents an analysis of residential MSRs under the fair value measurement method for the years ended December 31: 2023 2022 2021 (In millions) Carrying value, beginning of year $ 812 $ 418 $ 296 Additions 27 44 77 Purchases (1) 158 301 72 Increase (decrease) in fair value (2) : Due to change in valuation inputs or assumptions 17 127 43 Economic amortization associated with borrower repayments (3) (108) (78) (70) Carrying value, end of year $ 906 $ 812 $ 418 _________ (1) Purchases of residential MSRs can be structured with cash hold back provisions, therefore the timing of payment may be made in future periods. (2) Included in mortgage income. Amounts presented exclude offsetting impact from related derivatives. (3) Includes both total loan payoffs as well as partial paydowns. Regions' MSR decay methodology is a discounted net cash flow approach. Data and assumptions used in the fair value calculation, as well as the valuation’s sensitivity to rate fluctuations, related to residential MSRs (excluding related derivative instruments) as of December 31 are as follows: 2023 2022 (Dollars in millions) Unpaid principal balance $ 62,059 $ 54,603 Weighted-average CPR (%) 8.2 % 7.4 % Estimated impact on fair value of a 10% increase $ (43) $ (50) Estimated impact on fair value of a 20% increase $ (79) $ (89) Option-adjusted spread (basis points) 482 507 Estimated impact on fair value of a 10% increase $ (19) $ (19) Estimated impact on fair value of a 20% increase $ (39) $ (37) Weighted-average coupon interest rate 3.8 % 3.6 % Weighted-average remaining maturity (months) 302 308 Weighted-average servicing fee (basis points) 27.4 27.1 The sensitivity calculations above are hypothetical and should not be considered to be predictive of future performance. Changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of an adverse variation in a particular assumption on the fair value of the residential MSRs is calculated without changing any other assumption, while in reality changes in one factor may result in changes in another, which may either magnify or counteract the effect of the change. The derivative instruments utilized by Regions would serve to reduce the estimated impacts to fair value included in the table above. Servicing related fees, which include contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of residential mortgage loans totaled $165 million, $137 million, and $102 million for the years ended December 31, 2023, 2022, and 2021, respectively. Residential mortgage loans are sold in the secondary market with standard representations and warranties regarding certain characteristics such as the quality of the loan, the absence of fraud, the eligibility of the loan for sale and the future servicing associated with the loan. Regions may be required to repurchase these loans at par, or make-whole or indemnify the purchasers for losses incurred when representations and warranties are breached. Regions maintains an immaterial repurchase liability related to residential mortgage loans sold with representations and warranty provisions. This repurchase liability is reported in other liabilities on the consolidated balance sheets and reflects management’s estimate of losses based on historical repurchase and loss trends, as well as other factors that may result in anticipated losses different from historical loss trends. Adjustments to this reserve are recorded in other non-interest expense on the consolidated statements of income. COMMERCIAL MORTGAGE BANKING ACTIVITIES Regions is an approved DUS lender. The DUS program provides liquidity to the multi-family housing market. In connection with the DUS program, Regions services commercial mortgage loans, retains commercial MSRs and intangible assets associated with the DUS license, and assumes a loss share guarantee associated with the loans. See Note 1 for additional information. Also see Note 23 for additional information related to the guarantee. Regions' DUS portfolio totaled $87 million, $81 million and $86 million at December 31, 2023, 2022, and 2021, respectively. Regions periodically evaluates DUS MSRs for impairment based on fair value. The estimated fair value of the DUS MSRs was approximately $109 million at December 31, 2023 and $96 million at both December 31, 2022 and 2021. Servicing related fees in connection with the DUS program, which include contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of DUS commercial mortgage loans totaled $23 million, $24 million, and $25 million for the years ended December 31, 2023, 2022, and 2021 . |
Other Earning Assets
Other Earning Assets | 12 Months Ended |
Dec. 31, 2023 | |
Other Earning Assets [Abstract] | |
Other Earning Assets | Other earning assets consist of investments in Federal Reserve Bank stock, FHLB stock, marketable equity securities and other miscellaneous earning assets. FEDERAL RESERVE BANK AND FHLB STOCK The following table presents the amount of Regions' investments in Federal Reserve Bank and FHLB stock as of December 31: 2023 2022 (In millions) Federal Reserve Bank stock $ 434 $ 438 FHLB stock 18 15 MARKETABLE EQUITY SECURITIES Marketable equity securities carried at fair value, which primarily consist of assets held for certain employee benefits and money market funds, are reported in other earning assets. Total marketable equity securities were $813 million and $529 million at December 31, 2023 and 2022, respectively. Unrealized gains recognized in earnings for marketable equity securities still being held by the Company were $15 million during 2023. Unrealized losses recognized in earnings for marketable equity securities still being held by the Company were $45 million during 2022. Unrealized gains recognized in earnings for marketable equity securities still being held by the Company were $20 million during 2021. OTHER MISCELLANEOUS EARNING ASSETS |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | ummary of premises, equipment and software, net at December 31 is as follows: 2023 2022 (In millions) Land $ 409 $ 420 Premises and improvements 1,555 1,680 Furniture and equipment 1,103 1,056 Software 1,034 969 Leasehold improvements 449 455 Construction in progress 150 101 4,700 4,681 Accumulated depreciation and amortization (3,058) (2,963) $ 1,642 $ 1,718 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | GOODWILL Goodwill allocated to each reportable segment (each a reporting unit) at December 31 is presented as follows: 2023 2022 (In millions) Corporate Bank $ 3,006 $ 3,006 Consumer Bank 2,334 2,334 Wealth Management 393 393 $ 5,733 $ 5,733 Regions assessed the indicators of goodwill impairment for all three reporting units as part of its annual impairment test, as of October 1, 2023 by performing a quantitative assessment of goodwill at the reporting unit level. See Note 1 for additional information on the quantitative assessment. The results of the annual test indicated that the estimated fair value of each reporting unit exceeded its carrying amount as of the test date; therefore, the goodwill of each reporting unit is considered not impaired as of the testing date. The Company continued to assess indicators of goodwill impairment through the date of the filing of this Annual Report, by performing a qualitative assessment of goodwill at the reporting unit level. In performing the qualitative assessment, the Company evaluated events and circumstances since the annual impairment analysis, recent operating performance including reporting unit performance, changes in market capitalization, regulatory actions and assessments, changes in the business climate, company-specific factors and trends in the banking industry. The results of the qualitative assessment indicated that it was more likely than not that the estimated fair value of each reporting unit exceeded its carrying amount through the date of the filing of this Annual Report; therefore, quantitative goodwill impairment tests were deemed unnecessary. OTHER IDENTIFIABLE INTANGIBLE ASSETS The following table presents other identifiable intangible assets and related accumulated amortization as of December 31: 2023 2022 2023 2022 2023 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount (In millions) Core deposit intangibles $ 1,011 $ 1,011 $ 1,010 $ 1,006 $ 1 $ 5 Purchased credit card relationship assets 175 175 169 164 6 11 Relationship assets (1) 267 267 90 58 177 209 Other—amortizing (2) 26 26 24 21 2 5 Agency commercial real estate licenses (3) 16 16 — — 16 16 Other—non-amortizing (4) 3 3 — — 3 3 $ 1,498 $ 1,498 $ 1,293 $ 1,249 $ 205 $ 249 _________ (1) Includes intangible assets related to broker and contractor origination networks, vendor networks, and customer relationships. (2) Includes intangible assets primarily related to acquired trust services, trade names, intellectual property, and employee agreements. (3) Includes a DUS license acquired in 2014 and commercial real estate licenses acquired in 2021 that are non-amortizing intangible assets. In 2022, an immaterial purchase accounting adjustment resulted in an update to commercial real estate licenses. Refer to Note 6 for additional information related to the DUS license. (4) Includes non-amortizing intangible assets related to other acquired trust services. Core deposit intangibles, purchased credit card relationships and relationship assets are amortized in other non-interest expense on an accelerated basis over their expected useful lives. Other amortizing intangibles are amortized in other non-interest expense on a straight line basis over their expected useful lives. The aggregate amount of amortization expense for amortizing intangible assets is estimated as follows: Year Ended December 31 (In millions) 2024 $ 36 2025 30 2026 25 2027 21 2028 18 Identifiable intangible assets other than goodwill are reviewed at least annually, usually in the fourth quarter, for events or circumstances that could impact the recoverability of the intangible asset. Regions concluded that no impairment for any identifiable intangible assets occurred during 2023, 2022 or 2021. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2023 | |
Deposits [Abstract] | |
Deposits | NOTE 10. DEPOSITS The following schedule presents a detail of interest-bearing deposits at December 31: 2023 2022 (In millions) Interest-bearing checking $ 24,480 $ 25,676 Savings 12,604 15,662 Money market—domestic 33,364 33,285 Time deposits 14,972 5,772 Total interest-bearing deposits $ 85,420 $ 80,395 At December 31, 2023, the aggregate amounts of maturities of all time deposits (deposits with stated maturities, consisting primarily of certificates of deposit and IRAs) were as follows: December 31, 2023 (In millions) 2024 $ 12,900 2025 1,551 2026 269 2027 194 2028 40 Thereafter 18 $ 14,972 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2023 | |
Long-term Borrowings [Abstract] | |
Debt Disclosure | NOTE 11. BORROWED FUNDS LONG-TERM BORROWINGS Long-term borrowings at December 31 consist of the following: 2023 2022 (In millions) Regions Financial Corporation (Parent): 2.25% senior notes due May 2025 $ 747 $ 747 1.80% senior notes due August 2028 646 646 7.75% subordinated notes due September 2024 100 100 6.75% subordinated debentures due November 2025 153 153 7.375% subordinated notes due December 2037 298 298 Valuation adjustments on hedged long-term debt (112) (158) 1,832 1,786 Regions Bank: 6.45% subordinated notes due June 2037 496 496 Other long-term debt 2 2 498 498 $ 2,330 $ 2,284 As disclosed above, Regions and Regions Bank had subordinated notes outstanding at December 31, 2023, which are by definition, subordinated and subject in right of payment of both principal and interest to the prior payment in full of all senior indebtedness of the Company, which is generally defined as all indebtedness and other obligations of the Company to its creditors, except subordinated indebtedness. Payment of the principal of the notes may be accelerated only in the case of certain events involving bankruptcy, insolvency proceedings or reorganization of the Company. The subordinated notes described above qualify as Tier 2 capital under Federal Reserve guidelines, subject to diminishing credit as the respective maturity dates approach and subject to certain transition provisions. None of the subordinated notes are redeemable prior to maturity, unless there is an occurrence of a qualifying capital event. Regions Bank utilized long-term FHLB advances during 2023, but redeemed the advances prior to December 31, 2023 and recorded a $4 million pre-tax gain on the extinguishment. In 2022, neither Regions nor Regions Bank issued or redeemed any debt. Regions uses derivative instruments, primarily interest rate swaps, to manage interest rate risk by converting a portion of its fixed-rate debt to a variable-rate. The effective rate adjustments related to these hedges are included in interest expense on long-term borrowings. The weighted-average interest rate on total long-term debt, including the effect of derivative instruments, was 6.5 percent, 5.1 percent, and 3.6 percent for the years ended December 31, 2023, 2022 and 2021, respectively. Further discussion of derivative instruments is included in Note 20. The aggregate amount of contractual maturities of all long-term debt in each of the next five years and thereafter is as follows: Year Ended December 31 Regions Regions (In millions) 2024 $ 100 $ — 2025 859 — 2026 — — 2027 — — 2028 575 — Thereafter 298 498 $ 1,832 $ 498 On February 24, 2022, Regions filed a shelf registration statement with the SEC. This shelf registration does not have a capacity limit and can be utilized by Regions to issue various debt and/or equity securities. The registration statement will expire in February 2025. Regions Bank may issue bank notes from time to time, either as part of a bank note program or as stand-alone issuances. Notes issued by Regions Bank may be senior or subordinated notes. Notes issued by Regions Bank are not deposits and are not insured or guaranteed by the FDIC. Regions may, from time to time, consider opportunistically retiring outstanding issued securities, including subordinated debt in privately negotiated or open market transactions. Regulatory approval would be required for retirement of some securities. |
Regulatory Capital Requirements
Regulatory Capital Requirements and Restrictions | 12 Months Ended |
Dec. 31, 2023 | |
Banking and Thrift, Other Disclosure [Abstract] | |
Regulatory Capital Requirements and Restrictions | NOTE 12. REGULATORY CAPITAL REQUIREMENTS AND RESTRICTIONS Regions and Regions Bank are required to comply with regulatory capital requirements established by Federal and State banking agencies. These regulatory capital requirements involve quantitative measures of the Company’s assets, liabilities and selected off-balance sheet items, and also qualitative judgments by the regulators. Failure to meet minimum capital requirements can subject the Company to a series of increasingly restrictive regulatory actions. Under the Basel III Rules, Regions is designated as a standardized approach bank. Regions is a "Category IV" institution under the Federal Reserve's rules for tailoring enhanced prudential standards. Banking regulations identify five capital categories: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. At December 31, 2023 and 2022, Regions and Regions Bank exceeded all current regulatory requirements, and were classified as "well-capitalized." Management believes that no events or changes have occurred subsequent to December 31, 2023 that would change this designation. Quantitative measures established by regulation to ensure capital adequacy require institutions to maintain minimum ratios of common equity Tier 1, Tier 1, and Total capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital to average tangible assets (the "Leverage" ratio). Federal banking agencies allowed a phase-in of the impact of CECL on regulatory capital. At December 31, 2021, the add-back to regulatory capital was calculated as the impact of initial adoption, adjusted for 25 percent of subsequent changes in the allowance. The amount is phased-in over a three-year period beginning in 2022. At December 31, 2023, the net impact of the add-back on CET1 was approximately $204 million or approximately 16 basis points. The add-back amounts will decrease by approximately $100 million each year, or approximately 8 basis points, in the first quarters of 2024 and 2025. Regions participates in supervisory stress testing conducted by the Federal Reserve and its SCB is currently floored at 2.5 percent. See Note 14 to the consolidated financial statements for further details regarding CCAR results. The following tables summarize the applicable holding company and bank regulatory capital requirements: December 31, 2023 (1) Minimum Requirement Minimum Requirement plus SCB (2) To Be Well Amount Ratio (Dollars in millions) Common equity Tier 1 capital: Regions Financial Corporation $ 12,976 10.26 % 4.50 % 7.00 % N/A Regions Bank 14,136 11.22 4.50 7.00 6.50 % Tier 1 capital: Regions Financial Corporation $ 14,635 11.57 % 6.00 % 8.50 % 6.00 % Regions Bank 14,136 11.22 6.00 8.50 8.00 Total capital: Regions Financial Corporation $ 16,885 13.35 % 8.00 % 10.50 % 10.00 % Regions Bank 16,057 12.74 8.00 10.50 10.00 Leverage capital: Regions Financial Corporation $ 14,635 9.72 % 4.00 % 4.00 % N/A Regions Bank 14,136 9.44 4.00 4.00 5.00 % December 31, 2022 Minimum Requirement Minimum Requirement plus SCB (2) To Be Well Amount Ratio (Dollars in millions) Common equity Tier 1 capital: Regions Financial Corporation $ 12,066 9.60 % 4.50 % 7.00 % N/A Regions Bank 13,509 10.77 4.50 7.00 6.50 % Tier 1 capital: Regions Financial Corporation $ 13,725 10.91 % 6.00 % 8.50 % 6.00 % Regions Bank 13,509 10.77 6.00 8.50 8.00 Total capital: Regions Financial Corporation $ 15,767 12.54 % 8.00 % 10.50 % 10.00 % Regions Bank 15,172 12.10 8.00 10.50 10.00 Leverage capital: Regions Financial Corporation $ 13,725 8.90 % 4.00 % 4.00 % N/A Regions Bank 13,509 8.80 4.00 4.00 5.00 % _________ (1) The 2023 Basel III CET1 capital, Tier 1 capital, Total capital, and Leverage capital ratios are estimated (2) Reflects Regions' SCB of 2.50%. SCB does not apply to leverage capital ratios. |
Leases (Notes)
Leases (Notes) | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Lessor, Operating Leases [Text Block] | NOTE 13. LEASES LESSEE As of December 31, 2023, assets liabilities Other information related to operating leases at December 31 is as follows: 2023 2022 Weighted-average remaining lease term (years) 9.6 years 10.0 years Weighted-average discount rate (%) 2.9 % 2.6 % Future, undiscounted minimum lease payments on operating leases are as follows: December 31, 2023 (In millions) 2024 $ 92 2025 88 2026 75 2027 63 2028 51 Thereafter 262 Total lease payments 631 Less: Imputed interest 96 Total present value of lease liabilities $ 535 LESSOR The following tables present a summary of Regions' sales-type, direct financing and leveraged leases for the years ended December 31. Net Interest Income 2023 2022 2021 (In millions) Sales-Type and Direct Financing $ 65 $ 52 $ 59 Leveraged (1) 2 12 14 $ 67 $ 64 $ 73 _________ (1) Leveraged lease income is shown pre-tax and related tax expense is immaterial for all periods presented. Leveraged lease termination gains excluded from amounts presented above were immaterial for all periods presented. As of December 31, 2023 Sales-Type and Direct Financing Leveraged Total (In millions) Lease receivable $ 1,397 $ 123 $ 1,520 Unearned income (211) (47) (258) Guaranteed residual 96 — 96 Unguaranteed residual 188 118 306 Total net investment $ 1,470 $ 194 $ 1,664 As of December 31, 2022 Sales-Type and Direct Financing Leveraged Total (In millions) Lease receivable $ 1,236 $ 140 $ 1,376 Unearned income (189) (62) (251) Guaranteed residual 71 — 71 Unguaranteed residual 173 134 307 Total net investment $ 1,291 $ 212 $ 1,503 The following table presents the minimum future payments due from customers for sales-type and direct financing leases: December 31, 2023 Sales-Type and Direct Financing (In millions) 2024 $ 332 2025 268 2026 228 2027 159 2028 103 Thereafter 307 $ 1,397 |
Stockholders' Equity and Accumu
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) | NOTE 14. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) PREFERRED STOCK The following table presents a summary of the non-cumulative perpetual preferred stock: 2023 2022 Issuance Date Earliest Redemption Date Dividend Rate (1) Liquidation Amount Liquidation preference per Share Liquidation preference per Depositary Share Ownership Interest per Depositary Share Shares Issued and Outstanding Carrying Amount Carrying Amount (Dollars in millions, except for share and per share amounts) Series B 4/29/2014 9/15/2024 6.375 % (2) $ 500 $ 1,000 $ 25 1/40th 500,000 $ 433 $ 433 Series C 4/30/2019 5/15/2029 5.700 % (3) 500 1,000 25 1/40th 500,000 490 490 Series D 6/5/2020 9/15/2025 5.750 % (4) 350 100,000 1,000 1/100th 3,500 346 346 Series E 5/4/2021 6/15/2026 4.450 % 400 1,000 25 1/40th 400,000 390 390 $ 1,750 1,403,500 $ 1,659 $ 1,659 _________ (1) Dividends on all series of preferred stock, if declared, accrue and are payable quarterly in arrears. (2) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375%, and (ii) for each period beginning on or after September 15, 2024, three-month CME Term SOFR plus 3.536%. (3) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to August 15, 2029, 5.700%, and (ii) for each period beginning on or after August 15, 2029, three-month CME Term SOFR plus 3.148%. (4) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2025, 5.750%, and (ii) for each period beginning on or after September 15, 2025, the five-year treasury rate as of the most recent reset dividend determination date plus 5.426%. All series of preferred stock have no stated maturity and redemption is solely at Regions' option, subject to regulatory approval, in whole, or in part, after the earliest redemption date or in whole, but not in part, at any time following a regulatory capital treatment event for the Series B, Series C, Series D, and Series E preferred stock. The Board of Directors declared a total of $98 million and $99 million in cash dividends on all series of preferred stock during years 2023 and 2022, respectively. In the event Series B, Series C, Series D or Series E preferred shares are redeemed at the liquidation amounts, $67 million, $10 million, $4 million, or $10 million in excess of the redemption amount over the carrying amount will be recognized, respectively. Approximately $52 million of Series B preferred dividends that were recorded as a reduction of preferred stock, including related surplus, will be recorded as a reduction to common shareholders' equity. The remaining amounts listed represent issuance costs that were recorded as reductions to preferred stock, including related surplus, and will be recorded as reductions to net income available to common shareholders. COMMON STOCK As a Category IV bank, Regions was not required to participate in this year's supervisory capital stress test; however, the Company did receive its SCB reflecting planned capital changes including plans to increase its common stock dividend. From the fourth quarter of 2023 through the third quarter of 2024, the Company's SCB will remain at 2.5 percent. On April 20, 2022, the Board authorized the repurchase of up to $2.5 billion of the Company's common stock, permitting purchases from the second quarter of 2022 through the fourth quarter of 2024. As of December 31, 2023, Regions had repurchased approximately 17 million shares of common stock at a total cost of $267 million under this plan. All of these shares were immediately retired upon repurchase and therefore were not included in treasury stock. Regions declared $0.88 per share in cash dividends for 2023, $0.74 for 2022, and $0.65 for 2021. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the balances and activity in AOCI on a pre-tax and net of tax basis for the years ended December 31 : 2023 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ (4,481) $ 1,138 $ (3,343) Unrealized losses on securities transferred to held to maturity: Beginning balance $ (11) $ 2 $ (9) Reclassification adjustments for amortization on unrealized losses (2) 2 (1) 1 Ending balance $ (9) $ 1 $ (8) Unrealized gains (losses) on securities available for sale: Beginning balance $ (3,433) $ 872 $ (2,561) Unrealized gains (losses) arising during the period 669 (168) 501 Reclassification adjustments for securities (gains) losses realized in net income (3) 5 (1) 4 Change in AOCI from securities available for sale activity in the period 674 (169) 505 Ending balance $ (2,759) $ 703 $ (2,056) Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ (468) $ 119 $ (349) Unrealized gains (losses) on derivatives arising during the period (167) 43 (124) Reclassification adjustments for (gains) losses realized in net income (2) 236 (60) 176 Change in AOCI from derivative activity in the period 69 (17) 52 Ending balance $ (399) $ 102 $ (297) Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (569) $ 145 $ (424) Net actuarial gains (losses) arising during the period (82) 21 (61) Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income (4) 45 (11) 34 Change in AOCI from defined benefit pension plans and other post employment benefits activity in the period (37) 10 (27) Ending balance $ (606) $ 155 $ (451) Total other comprehensive income (loss) 708 (177) 531 Total accumulated other comprehensive income (loss), end of period $ (3,773) $ 961 $ (2,812) 2022 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ 387 $ (98) $ 289 Unrealized losses on securities transferred to held to maturity: Beginning balance $ (14) $ 3 $ (11) Reclassification adjustments for amortization on unrealized (gains) losses (2) 3 (1) 2 Ending balance $ (11) $ 2 $ (9) Unrealized gains (losses) on securities available for sale: Beginning balance $ 218 $ (55) $ 163 Unrealized gains (losses) arising during the period (3,652) 927 (2,725) Reclassification adjustments for securities losses realized in net income (3) 1 — 1 Change in AOCI from securities available for sale activity in the period (3,651) 927 (2,724) Ending balance $ (3,433) $ 872 $ (2,561) Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 830 $ (209) $ 621 Unrealized gains (losses) on derivatives arising during the period (1,158) 292 (866) Reclassification adjustments for (gains) losses realized in net income (2) (140) 36 (104) Change in AOCI from derivative activity in the period (1,298) 328 (970) Ending balance $ (468) $ 119 $ (349) Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (647) $ 163 $ (484) Net actuarial gains (losses) arising during the period 40 (7) 33 Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income (4) 38 (11) 27 Change in AOCI from defined benefit pension plans and other post employment benefits activity in the period 78 (18) 60 Ending balance $ (569) $ 145 $ (424) Total other comprehensive income (loss) (4,868) 1,236 (3,632) Total accumulated other comprehensive income (loss), end of period $ (4,481) $ 1,138 $ (3,343) 2021 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ 1,759 $ (444) $ 1,315 Unrealized losses on securities transferred to held to maturity: Beginning balance $ (21) $ 5 $ (16) Reclassification adjustments for amortization on unrealized (gains) losses (2) 7 (2) 5 Ending balance $ (14) $ 3 $ (11) Unrealized gains (losses) on securities available for sale: Beginning balance $ 1,062 $ (268) $ 794 Unrealized gains (losses) arising during the period (841) 212 (629) Reclassification adjustments for securities (gains) losses realized in net income (3) (3) 1 (2) Change in AOCI from securities available for sale activity in the period (844) 213 (631) Ending balance $ 218 $ (55) $ 163 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 1,610 $ (406) $ 1,204 Unrealized gains (losses) on derivatives arising during the period (354) 89 (265) Reclassification adjustments for (gains) losses realized in net income (2) (426) 108 (318) Change in AOCI from derivative activity in the period (780) 197 (583) Ending balance $ 830 $ (209) $ 621 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (892) $ 225 $ (667) Net actuarial gains (losses) arising during the period 180 (46) 134 Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income (4) 65 (16) 49 Change in AOCI from defined benefit pension plans and other post employment benefits activity in the period 245 (62) 183 Ending balance $ (647) $ 163 $ (484) Total other comprehensive income (loss) (1,372) 346 (1,026) Total accumulated other comprehensive income (loss), end of period $ 387 $ (98) $ 289 ____ (1) The impact of all AOCI activity is shown net of the related tax impact, calculated using an effective tax rate of approximately 25 percent. (2) Reclassification amount is recognized in net interest income in the consolidated statements of income. (3) Reclassification amount is recognized in securities gains (losses), net in the consolidated statements of income. (4) Reclassification amount is recognized in other non-interest expense in the consolidated statements of income. Additionally, these accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note 17 for additional details). |
Earnings (Loss) per Common Shar
Earnings (Loss) per Common Share | 12 Months Ended |
Dec. 31, 2023 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) per Common Share | NOTE 15. EARNINGS PER COMMON SHARE The following table sets forth the computation of basic earnings per common share and diluted earnings per common share for the years ended December 31: 2023 2022 2021 (In millions, except per share data) Numerator: Net income Net income $ 2,074 $ 2,245 $ 2,521 Preferred stock dividends and other (1) (98) (99) (121) Net income available to common shareholders $ 1,976 $ 2,146 $ 2,400 Denominator: Weighted-average common shares outstanding—basic $ 936 $ 935 $ 956 Potential common shares 2 7 7 Weighted-average common shares outstanding—diluted $ 938 $ 942 963 Earnings per common share: Basic $ 2.11 $ 2.29 $ 2.51 Diluted $ 2.11 $ 2.28 $ 2.49 ________ (1) Preferred stock dividends and other for the year ended December 31, 2021 includes $13 million of issuance costs associated with the redemption of Series A preferred shares in 2021. |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Share-Based Payments | Regions administers long-term incentive compensation plans that permit the granting of incentive awards in the form of restricted stock awards, performance awards, stock options and stock appreciation rights. While Regions has the ability to issue stock appreciation rights, none has been issued to date. The terms of all awards issued under these plans are determined by the CHR Committee of the Board; however, no awards may be granted after the tenth anniversary from the date the plans were initially approved by shareholders. Incentive awards usually vest based on employee service, generally within three years from the date of the grant. The contractual lives of options, issued in periods prior to 2021, granted under these plans were typically ten years from the date of the grant. On April 23, 2015, the shareholders of the Company approved the Regions Financial Corporation 2015 LTIP, which permits the Company to grant to employees and directors various forms of incentive compensation. These forms of incentive compensation are similar to the types of compensation approved in prior plans. The 2015 LTIP authorizes 60 million common share equivalents available for grant, where grants of options and grants of full value awards (e.g., shares of restricted stock, restricted stock units and performance stock units) count as one share equivalent. Unless otherwise determined by the CHR Committee of the Board, grants of restricted stock, restricted stock units, and performance stock units accrue dividends, or their notional equivalent, as they are declared by the Board, and are paid upon vesting of the award. Upon adoption of the 2015 LTIP, Regions closed the prior long-term incentive plan to new grants, and, accordingly, prospective grants must be made under the 2015 LTIP or a successor plan. All existing grants under prior long-term incentive plans are unaffected by adoption of the 2015 LTIP. The number of remaining share equivalents available for future issuance under the 2015 LTIP was approximately 24 million at December 31, 2023. Grants of performance-based restricted stock typically have a three-year performance period, and shares vest within three years after the grant date. Restricted stock units typically vest over three years. Grantees of restricted stock awards or units must either remain employed with the Company for certain periods from the date of grant in order for shares to be released or issued or retire after meeting the standards of a retiree, at which time shares would be issued and released. The terms of these plans generally stipulate that the exercise price of options may not be less than the fair market value of Regions' common stock at the date the options are granted. Regions issues new shares from authorized reserves upon exercise. The following table summarizes the elements of compensation cost recognized in the consolidated statements of income for the years ended December 31: 2023 2022 2021 (In millions) Compensation cost of share-based compensation awards: Restricted and performance stock awards $ 61 $ 60 $ 57 Tax benefits related to share-based compensation cost (16) (15) (14) Compensation cost of share-based compensation awards, net of tax $ 45 $ 45 $ 43 RESTRICTED STOCK AWARDS AND PERFORMANCE STOCK AWARDS During 2023, 2022 and 2021, Regions made restricted stock grants that vest upon satisfaction of service conditions and restricted stock award and performance stock award grants that vest based upon service conditions and performance conditions. Incremental shares earned above the performance target associated with previous performance stock awards are included when and if performance targets are achieved. Dividend payments during the vesting period are deferred to the end of the vesting term. The fair value of these restricted shares, restricted stock units and performance stock units was estimated based upon the fair value of the underlying shares on the date of the grant. The valuation was not adjusted for the deferral of dividends. Activity related to restricted stock awards and performance stock awards for 2023, 2022 and 2021 is summarized as follows: Number of Weighted-Average Non-vested at December 31, 2020 11,682,160 $ 12.14 Granted 2,984,065 21.18 Vested (3,227,513) 15.91 Forfeited (231,818) 13.24 Non-vested at December 31, 2021 11,206,894 $ 13.39 Granted 2,831,304 21.39 Vested (3,543,152) 14.24 Forfeited (331,283) 14.73 Non-vested at December 31, 2022 10,163,763 $ 15.23 Granted 3,943,474 17.54 Vested (5,844,477) 10.25 Forfeited (262,719) 18.08 Non-vested at December 31, 2023 8,000,041 $ 19.90 As of December 31, 2023, the pre-tax amount of non-vested restricted stock, restricted stock units and performance stock units not yet recognized was $60 million, which will be recognized over a weighted-average period of 1.68 years. The total fair value of shares vested during the years ended December 31, 2023, 2022, and 2021, was $109 million, $76 million, and $75 million, respectively. No share-based compensation costs were capitalized during the years ended December 31, 2023, 2022, or 2021. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2023 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |
Employee Benefit Plans | NOTE 17. EMPLOYEE BENEFIT PLANS PENSION AND OTHER POSTRETIREMENT BENEFITS Regions' defined benefit pension plans cover only certain employees as the pension plans are closed to new entrants. Benefits under the pension plans are based on years of service and the employee’s highest five consecutive years of compensation during the last ten years of employment. Regions’ funding policy is to contribute annually at least the amount required by IRS minimum funding standards. Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future. The Company also sponsors a SERP, which is a non-qualified pension plan that provides certain senior executive officers defined benefits in relation to their compensation. Actuarially determined pension expense is charged to current operations using the projected unit credit method. All defined benefit plans are referred to as “the plans” throughout the remainder of this footnote. The following table sets forth the plans’ change in benefit obligation, plan assets and funded status, using a December 31 measurement date, and amounts recognized in the consolidated balance sheets at December 31: Qualified Plans Non-qualified Plans Total 2023 2022 2023 2022 2023 2022 (In millions) Change in benefit obligation Projected benefit obligation, beginning of year $ 1,623 $ 2,281 $ 127 $ 156 $ 1,750 $ 2,437 Service cost 21 34 1 2 22 36 Interest cost 86 56 6 3 92 59 Actuarial (gains) losses 49 (568) 14 (17) 63 (585) Benefit payments (132) (108) (8) (8) (140) (116) Administrative expenses (3) (3) — — (3) (3) Plan settlements — (69) (58) (9) (58) (78) Projected benefit obligation, end of year $ 1,644 $ 1,623 $ 82 $ 127 $ 1,726 $ 1,750 Change in plan assets Fair value of plan assets, beginning of year $ 1,970 $ 2,554 $ — $ — $ 1,970 $ 2,554 Actual return on plan assets 101 (404) — — 101 (404) Company contributions — — 66 17 66 17 Benefit payments (132) (108) (8) (8) (140) (116) Administrative expenses (3) (3) — — (3) (3) Plan settlements — (69) (58) (9) (58) (78) Fair value of plan assets, end of year $ 1,936 $ 1,970 $ — $ — $ 1,936 $ 1,970 Funded status and accrued benefit (cost) at measurement date $ 292 $ 347 $ (82) $ (127) $ 210 $ 220 Amount recognized in the Consolidated Balance Sheets: Other assets $ 292 $ 347 $ — $ — $ 292 $ 347 Other liabilities — — (82) (127) (82) (127) $ 292 $ 347 $ (82) $ (127) $ 210 $ 220 Pre-tax amounts recognized in Accumulated Other Comprehensive (Income) Loss: Net actuarial loss $ 580 $ 537 $ 29 $ 36 $ 609 $ 573 The accumulated benefit obligation for the qualified plans was $1.6 billion and $1.5 billion as of December 31, 2023 and 2022, respectively. Total plan assets exceeded the corresponding accumulated benefit obligation for the qualified plans as of December 31, 2023 and 2022. The accumulated benefit obligation for the non-qualified plans was $82 million and $127 million as of December 31, 2023 and 2022, respectively, which exceeded all corresponding plan assets for each period. As of December 31, 2023 and 2022, the actuarial (gains) losses related to the change in the benefit obligation were primarily driven by changes in the discount rate. Net periodic pension cost (benefit) included the following components for the years ended December 31: Qualified Plans Non-qualified Plans Total 2023 2022 2021 2023 2022 2021 2023 2022 2021 (In millions) Service cost $ 21 $ 34 $ 38 $ 1 $ 2 $ 3 $ 22 $ 36 $ 41 Interest cost 86 56 49 6 3 2 92 59 51 Expected return on plan assets (120) (139) (142) — — — (120) (139) (142) Amortization of actuarial loss 24 25 46 4 7 8 28 32 54 Settlement charge — 4 — 17 2 11 17 6 11 Net periodic pension (benefit) cost $ 11 $ (20) $ (9) $ 28 $ 14 $ 24 $ 39 $ (6) $ 15 The service cost component of net periodic pension (benefit) cost is recorded in salaries and employee benefits on the consolidated statements of income. Components other than service cost are recorded in other non-interest expense on the consolidated statements of income. The assumptions used to determine benefit obligations at December 31 are as follows: Qualified Plans Non-qualified Plans 2023 2022 2023 2022 Discount rate 5.15 % 5.42 % 5.08 % 5.38 % Rate of annual compensation increase 4.00 % 4.00 % 3.00 % 3.00 % The weighted-average assumptions used to determine net periodic pension (benefit) cost for the years ended December 31 are as follows: Qualified Plans Non-qualified Plans 2023 2022 2021 2023 2022 2021 Discount rate 5.42 % 2.85 % 2.48 % 5.42 % 2.72 % 2.20 % Expected long-term rate of return on plan assets 6.37 % 5.62 % 5.87 % N/A N/A N/A Rate of annual compensation increase 4.00 % 4.00 % 4.00 % 3.00 % 3.00 % 3.00 % Regions utilizes a disaggregated approach in the estimation of the service and interest components of net periodic pension costs by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. This provides a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows and the corresponding spot yield curve rates. The expected long-term rate of return on the qualified plans' assets is based on an estimated reasonable range of probable returns. The assumption is established by considering historical and anticipated returns of the asset classes invested in by the qualified plans and the allocation strategy currently in place among those classes. Management chose a point within the range based on the probability of achievement combined with incremental returns attributable to active management. For 2024, the weighted-average expected long-term rate of return on plan assets is 6.37 percent, using the weighted fair value of plan assets as of December 31, 2023. The qualified plans' investment strategy is continuing to shift from focusing on maximizing asset returns to minimizing funding ratio volatility, with a planned increase in the allocation to fixed income securities. The combined target asset allocation is 33 percent equities, 62 percent fixed income securities and 5 percent in all other types of investments. Equity securities include investments in large and small/mid cap companies primarily located in the U.S., international equities, and private equities. Fixed income securities include investments in corporate and government bonds, asset-backed securities and any other fixed income investments as allowed by respective prospectuses and other offering documents. Other types of investments may include hedge funds and real estate funds that follow several different strategies. The plans' assets are highly diversified with respect to asset class, security and manager. Investment risk is controlled with the plans' assets rebalancing to target allocations on a periodic basis and continual monitoring of investment managers’ performance relative to the investment guidelines established with each investment manager. Regions’ qualified plans have a portion of their investments in Regions' common stock. At December 31, 2023, the plans held 2,855,618 shares, which represents a total market value of approximately $55 million, or approximately 3 percent of the plans' assets. The following table presents the fair value of Regions’ qualified pension plans’ financial assets as of December 31: 2023 2022 Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value (In millions) Cash and cash equivalents $ 74 $ — $ — $ 74 $ 34 $ — $ — $ 34 Fixed income securities: U.S. Treasury securities $ 359 $ — $ — $ 359 $ 280 $ — $ — $ 280 Federal agency securities — 7 — 7 — 15 — 15 Corporate bonds and other debt — 603 — 603 — 354 — 354 Total fixed income securities $ 359 $ 610 $ — $ 969 $ 280 $ 369 $ — $ 649 Equity securities: Domestic $ 132 $ — $ — $ 132 $ 135 $ — $ — $ 135 International — — — — 130 — — 130 Total equity securities $ 132 $ — $ — $ 132 $ 265 $ — $ — $ 265 International mutual funds $ 103 $ — $ — $ 103 $ 125 $ — $ — $ 125 Total assets in the fair value hierarchy $ 668 $ 610 $ — $ 1,278 $ 704 $ 369 $ — $ 1,073 Collective trust funds: Fixed income fund (1) $ 111 $ 340 Common stock fund (1) 119 168 International fund (1) 117 40 Total collective trust funds $ 347 $ 548 Real estate funds measured at NAV (1) $ 144 $ 177 Private equity funds measured at NAV (1) $ 167 $ 172 $ 1,936 $ 1,970 __________ (1) In accordance with accounting guidance, investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient are not required to be classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of amounts reported in the fair value hierarchy to amounts reported on the balance sheet. For all investments, the plans attempt to use quoted market prices of identical assets on active exchanges, or Level 1 measurements. Where such quoted market prices are not available, the plans typically employ quoted market prices of similar instruments (including matrix pricing) and/or discounted cash flows to estimate a value of these securities, or Level 2 measurements. Level 2 discounted cash flow analyses are typically based on market interest rates, prepayment speeds and/or option adjusted spreads. Investments held in the plans consist of cash and cash equivalents, fixed income securities, equity securities, collective trust funds, hedge funds, real estate funds, private equity and other assets and are recorded at fair value on a recurring basis. See Note 1 for a description of valuation methodologies related to U.S. Treasuries, federal agency securities, and equity securities. The methodology described in Note 1 for other debt securities is applicable to corporate bonds and other debt. Mutual funds are valued based on quoted market prices of identical assets on active exchanges; these valuations are Level 1 measurements. Collective trust funds, hedge funds, real estate funds, private equity funds and other assets are valued based on net asset value or the valuation of the limited partner’s portion of the equity of the fund. Third party fund managers provide these valuations based primarily on estimated valuations of underlying investments. Information about the expected cash flows for the qualified and non-qualified plans is as follows: Qualified Plans Non-qualified Plans (In millions) Expected Employer Contributions: 2024 $ — $ 9 Expected Benefit Payments: 2024 $ 122 $ 9 2025 124 9 2026 125 10 2027 127 9 2028 126 9 Next five years 602 35 OTHER PLANS Regions has a defined-contribution 401(k) plan that includes a Company match of eligible employee contributions. Eligible employees include those who have been employed for one year and have worked a minimum of 1,000 hours. The Company match is invested based on the employees' allocation elections. Regions provides an automatic 2 percent cash 401(k) contribution to eligible employees regardless of whether or not they are contributing to the 401(k) plan. To receive this contribution, employees must be employed at the end of the year and not actively accruing a benefit in the Regions’ pension plans. Regions’ cash contribution was approximately $24 million for 2023 and $22 million for 2022 and 2021. For 2023, 2022 and 2021, eligible employees who were already contributing to the 401(k) plan received up to a 5 percent Company match plus the automatic 2 percent cash contribution. Regions’ match to the 401(k) plan on behalf of employees totaled $72 million in 2023, $67 million in 2022, and $63 million in 2021. Regions’ 401(k) plan held 16 million shares of Regions' common stock at both December 31, 2023 and 2022. The 401(k) plan received approximately $13 million, $12 million and $11 million in dividends on Regions' common stock for the years ended December 31, 2023, 2022 and 2021, respectively. |
Other Non-Interest Income and E
Other Non-Interest Income and Expense | 12 Months Ended |
Dec. 31, 2023 | |
Other Income and Expenses [Abstract] | |
Other Non-Interest Income and Expense | The following is a detail of other non-interest income for the years ended December 31: 2023 2022 2021 (In millions) Investment services fee income $ 138 $ 122 $ 104 Commercial credit fee income 105 96 91 Bank-owned life insurance 78 62 82 Market value adjustments on employee benefit assets 15 (45) 20 Insurance proceeds (1) — 50 — Gain on equity investment (2) — — 3 Other miscellaneous income 185 199 223 $ 521 $ 484 $ 523 ______ (1) In 2022, the Company settled a previously disclosed matter with the CFPB and received an insurance reimbursement related to the settlement. (2) This amount represents a gain on the sale of an equity investment that was sold in the first quarter of 2021. The following is a detail of other non-interest expense for the years ended December 31: 2023 2022 2021 (In millions) Outside services $ 163 $ 157 $ 156 Marketing 110 102 106 Professional, legal and regulatory expenses 85 263 98 Credit/checkcard expenses 60 66 62 FDIC insurance assessments 228 61 45 Operational losses 212 56 46 Branch consolidation, property and equipment charges 7 3 5 Visa class B shares expense 28 24 22 Early extinguishment of debt (4) — 20 Other miscellaneous expenses 410 326 314 $ 1,299 $ 1,058 $ 874 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 19. INCOME TAXES The components of income tax expense for the years ended December 31 were as follows: 2023 2022 2021 (In millions) Current income tax expense: Federal $ 417 $ 493 $ 456 State 84 116 73 Total current expense $ 501 $ 609 $ 529 Deferred income tax expense (benefit): Federal $ 25 $ 26 $ 132 State 7 (4) 33 Total deferred expense $ 32 $ 22 $ 165 Total income tax expense $ 533 $ 631 $ 694 Income tax expense does not reflect the tax effects of unrealized losses on securities transferred to held to maturity, unrealized gains and losses on securities available for sale, unrealized gains and losses on derivative instruments and the net change from defined benefit pension plans and other postretirement benefits. Refer to Note 14 for additional information on shareholders' equity and accumulated other comprehensive income (loss). The Company accounts for investment tax credits using the deferral method. Investment tax credits generated totaled $94 million, $67 million and $64 million for 2023, 2022, and 2021, respectively. Income taxes for financial reporting purposes differs from the amount computed by applying the statutory federal income tax rate of 21 percent as shown in the following table: 2023 2022 2021 (Dollars in millions) Tax on income computed at statutory federal income tax rate $ 547 $ 604 $ 675 Increase (decrease) in taxes resulting from: State income tax, net of federal tax effect 72 88 83 Non-deductible expenses 33 34 18 Tax-exempt interest (38) (33) (30) Affordable housing credits, net of amortization (42) (32) (25) Bank-owned life insurance (19) (16) (20) Other, net (20) (14) (7) Income tax expense (1) $ 533 $ 631 $ 694 Effective tax rate 20.5 % 22.0 % 21.6 % ___ _______ (1) Income tax expense includes gross amortization of affordable housing investments of $166 million, $149 million, and $139 million for 2023, 2022 and 2021, respectively. Significant components of the Company’s net deferred tax asset at December 31 are listed below: 2023 2022 (In millions) Deferred tax assets: Unrealized losses included in shareholders' equity $ 961 $ 1,138 Allowance for credit losses 430 401 Right of use liability 129 136 Accrued expenses 87 61 Other 20 47 Federal and state net operating losses, net of federal tax effect 31 40 Total deferred tax assets 1,658 1,823 Less: valuation allowance (21) (21) Total deferred tax assets less valuation allowance 1,637 1,802 Deferred tax liabilities: Lease financing 439 403 Right of use asset 121 128 Mortgage servicing rights 95 122 Goodwill and intangibles 112 103 Fixed assets 30 52 Employee benefits and deferred compensation 37 29 Other 62 22 Total deferred tax liabilities 896 859 Net deferred tax asset $ 741 $ 943 The following table provides details of the Company’s net operating loss carryforwards at December 31, 2023, including the expiration dates and related valuation allowance: Expiration Dates Deferred Tax Asset Balance Valuation Net Deferred Tax (In millions) Net operating losses-federal None 9 — 9 Net operating losses-states 2024-2028 13 13 — Net operating losses-states 2029-2035 3 2 1 Net operating losses-states 2036-2043 3 2 1 Net operating losses-states None 3 2 1 $ 31 $ 19 $ 12 The Company believes that a portion of the state net operating loss carryforwards will not be realized due to certain state statutory limitations. Accordingly, a valuation allowance has been established in the amount of $19 million against such benefits at December 31, 2023 compared to $21 million at December 31, 2022. A reconciliation of the beginning and ending amount of UTB is as follows: 2023 2022 2021 (In millions) Balance at beginning of year $ 8 $ 9 $ 12 Additions based on tax positions taken in a prior period 3 — — Settlements — — (2) Expiration of statute of limitations — (1) (1) Balance at end of year $ 11 $ 8 $ 9 The Company files U.S. federal, state, and local income tax returns. The Company is in the IRS’s Compliance Assurance Process program and examinations of the U.S federal consolidated income tax return for tax years through 2021 have been completed. With limited exceptions, the Company is no longer subject to state and local tax examinations for tax years prior to 2019. Currently, there are no material disputed tax positions with federal or state taxing authorities. Accordingly, the Company does not anticipate that any adjustments relating to federal or state tax examinations will result in material changes to its business, financial position, results of operations or cash flows. There are no expected decreases to the potential liability for UTBs during the next twelve months. As of December 31, 2023, 2022 and 2021, the balances of the Company’s UTBs that would reduce the effective tax rates, if recognized, were $11 million, $8 million and $7 million, respectively. Interest and penalties related to UTBs are recorded in the provision for income taxes. During the years ended December 31, 2023, 2022 and 2021, the Company recognized an immaterial expense (benefit) for gross interest and penalties. As of December 31, 2023 and 2022, the Company had an immaterial gross liability for interest and penalties related to UTBs. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments and Hedging Activities | NOTE 20. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES The following tables present the notional amount and estimated fair value of derivative instruments. 2023 2022 Notional Amount (1) Estimated Fair Value Notional Estimated Fair Value Gain (1)(2) Loss (1)(2) Gain (2) Loss (2) (In millions) Derivatives in fair value hedging relationships: Interest rate swaps $ 2,975 $ 1 $ 121 $ 1,423 $ 1 $ 158 Derivatives in cash flow hedging relationships: Interest rate swaps 29,550 43 580 30,600 19 668 Interest rate options 2,000 21 13 — — — Total derivatives in cash flow hedging relationships 31,550 64 593 30,600 19 668 Total derivatives designated as hedging instruments $ 34,525 $ 65 $ 714 $ 32,023 $ 20 $ 826 Derivatives not designated as hedging instruments: Interest rate swaps $ 99,892 $ 1,769 $ 1,718 $ 94,220 $ 2,315 $ 2,335 Interest rate options 13,497 66 57 12,506 94 85 Interest rate futures and forward commitments 655 7 12 985 8 5 Other contracts 12,007 198 190 12,173 172 127 Total derivatives not designated as hedging instruments $ 126,051 $ 2,040 $ 1,977 $ 119,884 $ 2,589 $ 2,552 Total derivatives $ 160,576 $ 2,105 $ 2,691 $ 151,907 $ 2,609 $ 3,378 Total gross derivative instruments, before netting $ 2,105 $ 2,691 $ 2,609 $ 3,378 Less: Netting adjustments (3) 2,029 1,560 2,504 1,925 Total gross derivative instruments, after netting $ 76 $ 1,131 $ 105 $ 1,453 _________ (1) In the second quarter of 2023, the Company entered into additional trades to transition remaining derivative exposure from LIBOR to SOFR. As a part of this transition, the Company applied certain optional expedients and exceptions in previously adopted accounting relief for hedges. (2) Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets. Includes accrued interest as applicable. (3) Netting adjustments represent amounts recorded to convert derivative assets and derivative liabilities from a gross basis to a net basis in accordance with applicable accounting guidance. The net basis takes into account the impact of cash collateral received or posted, legally enforceable master netting agreements, and variation margin that allow Regions to settle derivative contracts with the counterparty on a net basis and to offset the net position with the related cash collateral. Cash collateral, all of which is included as a netting adjustment, totaled $243 million and $185 million for derivative assets at December 31, 2023 and 2022, respectively. Cash collateral totaled $43 million and $90 million for derivative liabilities at December 31, 2023 and 2022, respectively. HEDGING DERIVATIVES Derivatives entered into to manage interest rate risk and facilitate asset/liability management strategies are designated as hedging derivatives. Derivative financial instruments that qualify in a hedging relationship are classified, based on the exposure being hedged, as either fair value hedges or cash flow hedges. See Note 1 for additional information regarding accounting policies for derivatives. FAIR VALUE HEDGES Fair value hedge relationships mitigate exposure to the change in fair value of an asset, liability or firm commitment. Regions enters into interest rate swap agreements to manage interest rate exposure on the Company’s fixed-rate borrowings and time deposits. These agreements involve the receipt of fixed-rate amounts in exchange for floating-rate interest payments over the life of the agreements. Regions also enters into interest rate swap agreements to manage interest rate exposure on certain of the Company's fixed-rate prepayable and non-prepayable debt securities available for sale. These agreements involve the payment of fixed-rate amounts in exchange for floating-rate interest receipts. CASH FLOW HEDGES Cash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted transactions. Regions enters into interest rate swaps, options (e.g., floors, caps and collars), and agreements with a combination of these instruments to manage overall cash flow changes related to interest rate risk exposure on variable rate loans. The agreements effectively modify the Company’s exposure to interest rate risk by utilizing receive fixed/pay SOFR interest rate swaps and interest rate options. As of December 31, 2023, Regions is hedging its exposure to the variability in future cash flows into 2031. As of December 31, 2023, cash flow hedges were held at a pre-tax net loss of $399 million, which includes pre-tax net gains of $90 million related to terminated cash flow floors and swaps. Regions expects to reclassify into earnings approximately $309 million in pre-tax expenses due to the net receipt/ payment of interest and amortization on all cash flow hedges within the next twelve months. Included in this amount is $61 million in pre-tax net gains related to the amortization of terminated cash flow floors and swaps. The following tables present the effect of hedging derivative instruments on the consolidated statements of income and the total amounts for the respective line items affected: 2023 Interest Income Interest Income Interest Expense Debt securities Loans, including fees Long-term borrowings (In millions) Total income (expense) presented in the consolidated statements of income $ 749 $ 5,733 $ (226) Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ (1) $ — $ (64) Recognized on derivatives (6) — 46 Recognized on hedged items 6 — (46) Income (expense) recognized on fair value hedges $ (1) $ — $ (64) Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ — $ (236) $ — Income (expense) recognized on cash flow hedges $ — $ (236) $ — 2022 Interest Income Interest Income Interest Expense Debt securities Loans, including fees Long-term borrowings (In millions) Total income (expense) presented in the consolidated statements of income $ 688 $ 4,088 $ (119) Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ 41 $ — $ (16) Recognized on derivatives — — (124) Recognized on hedged items — — 124 Income (expense) recognized on fair value hedges $ 41 $ — $ (16) Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ — $ 140 $ — Income (expense) recognized on cash flow hedges $ — $ 140 $ — 2021 Interest Income Interest Expense Loans, including fees Long-term borrowings (In millions) Total income (expense) presented in the consolidated statements of income $ 3,452 $ (103) Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 19 Recognized on derivatives — (51) Recognized on hedged items — 51 Income (expense) recognized on fair value hedges $ — $ 19 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 426 $ — Income (expense) recognized on cash flow hedges $ 426 $ — ____ (1) See Note 14 for gain or (loss) recognized for cash flow hedges in AOCI. (2) Pre-tax The following tables present the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships. 2023 2022 Hedged Items Currently Designated Hedged Items Currently Designated Carrying Amount of Assets/(Liabilities) Hedge Accounting Basis Adjustment Carrying Amount of Assets/(Liabilities) Hedge Accounting Basis Adjustment (In millions) (In millions) Debt securities available for sale (1)(2) $ 1,653 $ 5 $ 23 $ — Long-term borrowings (1,286) 112 (1,239) 158 Time deposits (252) — — — _____ (1) As of December 31, 2023, the Company designated interest rate swaps as fair value hedges of debt securities available for sale under the portfolio layer method under which the Company designated $1.0 billion as the hedged amount from a closed portfolio of prepayable financial assets with a carrying amount of $1.3 billion. (2) Carrying amount represents amortized cost. DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS The Company holds a portfolio of interest rate swaps, option contracts, and futures and forward commitments that result from transactions with its commercial customers in which they manage their risks by entering into a derivative with Regions. The Company monitors and manages the net risk in this customer portfolio and enters into separate derivative contracts in order to reduce the overall exposure to pre-defined limits. For both derivatives with its end customers and derivatives Regions enters into to mitigate the risk in this portfolio, the Company is subject to market risk and the risk that the counterparty will default. The contracts in this portfolio are not designated as accounting hedges and are marked-to market through earnings (in capital markets income) and included in other assets and other liabilities, as appropriate. Regions enters into interest rate lock commitments, which are commitments to originate mortgage loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. At December 31, 2023 and December 31, 2022, Regions had $124 million and $118 million, respectively, in total notional amount of interest rate lock commitments. Regions manages market risk on interest rate lock commitments and mortgage loans held for sale with corresponding forward sale commitments. Residential mortgage loans held for sale are recorded at fair value with changes in fair value recorded in mortgage income. Commercial mortgage loans held for sale are recorded at either the lower of cost or market or at fair value based on management's election. At December 31, 2023 and December 31, 2022, Regions had $267 million and $233 million, respectively, in total notional amounts related to these forward sale commitments. Changes in mark-to-market from both interest rate lock commitments and corresponding forward sale commitments related to residential mortgage loans are included in mortgage income. Changes in mark-to-market from both interest rate lock commitments and corresponding forward sale commitments related to commercial mortgage loans are included in capital markets income. Regions elected to account for residential MSRs at fair value with any changes to fair value recorded in mortgage income. Concurrent with the election to use the fair value measurement method, Regions uses various derivative instruments in the form of forward rate commitments, futures contracts, swaps and swaptions to mitigate the effect of changes in the fair value of its residential MSRs in its consolidated statements of income. As of December 31, 2023 and December 31, 2022, the total notional amount related to these contracts was $3.3 billion and $3.4 billion, respectively. The following table presents the location and amount of gain or (loss) recognized in income on derivatives not designated as hedging instruments in the consolidated statements of income for the periods presented below: Derivatives Not Designated as Hedging Instruments 2023 2022 2021 (In millions) Capital markets income: Interest rate swaps $ (17) $ 108 $ 46 Interest rate options 42 23 28 Interest rate futures and forward commitments 13 10 15 Other contracts 11 11 4 Total capital markets income 49 152 93 Mortgage income: Interest rate swaps (14) (118) (45) Interest rate options 1 (14) (32) Interest rate futures and forward commitments (10) (4) 13 Total mortgage income (23) (136) 64 $ 26 $ 16 $ 29 CREDIT DERIVATIVES Regions has both bought and sold credit protection in the form of participations on interest rate swaps (swap participations). These swap participations, which meet the definition of credit derivatives, were entered into in the ordinary course of business to serve the credit needs of customers. Swap participations, whereby Regions has purchased credit protection, entitle Regions to receive a payment from the counterparty if the customer fails to make payment on any amounts due to Regions upon early termination of the swap transaction and have maturities between 2024 and 2029. Swap participations, whereby Regions has sold credit protection have maturities between 2024 and 2035. For contracts where Regions sold credit protection, Regions would be required to make payment to the counterparty if the customer fails to make payment on any amounts due to the counterparty upon early termination of the swap transaction. Regions bases the current status of the prepayment/performance risk on bought and sold credit derivatives on recently issued internal risk ratings consistent with the risk management practices of unfunded commitments. Regions’ maximum potential amount of future payments under these contracts as of December 31, 2023 was approximately $418 million. This scenario occurs if variable interest rates were at zero percent and all counterparties defaulted with zero recovery. The fair value of sold protection at December 31, 2023 and 2022 was immaterial. In transactions where Regions has sold credit protection, recourse to collateral associated with the original swap transaction is available to offset some or all of Regions’ obligation. Regions has bought credit protection in the form of credit default indices. These indices, which meet the definition of credit derivatives, were entered into in the ordinary course of business to economically hedge credit spread risk in commercial mortgage loans held for sale whereby the fair value option has been elected. Credit derivatives, whereby Regions has purchased credit protection, entitle Regions to receive a payment from the counterparty if losses on the underlying index exceed a certain threshold, dependent upon the tranche rating of the capital structure. CONTINGENT FEATURES Certain of Regions’ derivative instrument contracts with broker-dealers contain credit-related termination provisions and/or credit-related provisions regarding the posting of collateral, allowing those broker-dealers to terminate the contracts in the event that Regions’ and/or Regions Bank’s credit ratings falls below specified ratings from certain major credit rating agencies. The aggregate fair values of all derivative instruments with any credit-risk-related contingent features that were in a liability position on December 31, 2023 and December 31, 2022, were $29 million and $17 million, respectively, for which Regions had posted collateral of $32 million and $20 million, respectively, in the normal course of business. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 21. FAIR VALUE MEASUREMENTS See Note 1 for a description of valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis. Assets and liabilities measured at fair value rarely transfer between Level 1 and Level 2 measurements. Marketable equity securities and debt securities available for sale may be periodically transferred to or from Level 3 valuation based on management’s conclusion regarding the observability of inputs used in valuing the securities. Such transfers are accounted for as if they occur at the beginning of a reporting period. The following table presents assets and liabilities measured at estimated fair value on a recurring basis as of December 31: 2023 2022 Level 1 Level 2 Level 3 (1) Total Level 1 Level 2 Level 3 (1) Total (In millions) Recurring fair value measurements Debt securities available for sale: U.S. Treasury securities $ 1,223 $ — $ — $ 1,223 $ 1,187 $ — $ — $ 1,187 Federal agency securities — 1,043 — 1,043 — 836 — 836 Obligations of states and political subdivisions — 2 — 2 — 2 — 2 Mortgage-backed securities: Residential agency — 17,372 — 17,372 — 16,954 — 16,954 Residential non-agency — — — — — — 1 1 Commercial agency — 7,307 — 7,307 — 7,613 — 7,613 Commercial non-agency — 83 — 83 — 186 — 186 Corporate and other debt securities — 1,073 1 1,074 — 1,153 1 1,154 Total debt securities available for sale $ 1,223 $ 26,880 $ 1 $ 28,104 $ 1,187 $ 26,744 $ 2 $ 27,933 Loans held for sale $ — $ 201 $ — $ 201 $ — $ 177 $ 19 $ 196 Marketable equity securities in other earning assets $ 813 $ — $ — $ 813 $ 529 $ — $ — $ 529 Residential mortgage servicing rights $ — $ — $ 906 $ 906 $ — $ — $ 812 $ 812 Derivative assets (2) : Interest rate swaps $ — $ 1,813 $ — $ 1,813 $ — $ 2,335 $ — $ 2,335 Interest rate options — 83 4 87 — 91 3 94 Interest rate futures and forward commitments — 7 — 7 — 8 — 8 Other contracts — 198 — 198 3 169 — 172 Total derivative assets $ — $ 2,101 $ 4 $ 2,105 $ 3 $ 2,603 $ 3 $ 2,609 Derivative liabilities (2) : Interest rate swaps $ — $ 2,419 $ — $ 2,419 $ — $ 3,161 $ — $ 3,161 Interest rate options — 70 — 70 — 85 — 85 Interest rate futures and forward commitments — 12 — 12 — 5 — 5 Other contracts — 189 1 190 2 124 1 127 Total derivative liabilities $ — $ 2,690 $ 1 $ 2,691 $ 2 $ 3,375 $ 1 $ 3,378 _________ (1) All following disclosures related to Level 3 recurring assets do not include those deemed to be immaterial at December 31, 2023 and 2022. (2) As permitted under U.S. GAAP, variation margin collateral payments made or received for derivatives that are centrally cleared are legally characterized as settled. As such, these derivative assets and derivative liabilities and the related variation margin collateral are presented on a net basis on the balance sheet. Assets and liabilities in all levels could result in volatile and material price fluctuations. Realized and unrealized gains and losses on Level 3 assets represent only a portion of the risk to market fluctuations in Regions’ consolidated balance sheets. See Note 6 for a reconciliation of beginning and ending balances of residential MSRs for the years ended December 31, 2023 and 2022. RECURRING FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS Residential mortgage servicing rights The significant unobservable inputs used in the fair value measurement of residential MSRs are OAS and CPR. This valuation requires generating cash flow projections over multiple interest rate scenarios and discounting those cash flows at a risk-adjusted rate. Additionally, the impact of prepayments and changes in the OAS are based on a variety of underlying inputs including servicing costs. Increases or decreases to the underlying cash flow inputs will have a corresponding impact on the value of the MSR asset. The net change in unrealized gains (losses) included in earnings related to MSRs held at period end are disclosed as the changes in valuation inputs or assumptions included in the MSR rollforward table in Note 6 . The following tables present detailed information regarding material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of December 31, 2023 and 2022. The tables include the valuation techniques and the significant unobservable inputs utilized. The range of each significant unobservable input as well as the weighted-average within the range utilized at December 31, 2023 and 2022 2021. are included. Following the tables are descriptions of the valuation techniques and the sensitivity of the techniques to changes in the significant unobservable inputs. December 31, 2023 Level 3 Valuation Unobservable Quantitative Range of (Dollars in millions) Recurring fair value measurements: Residential mortgage servicing rights (1) $906 Discounted cash flow Weighted-average CPR (%) 5.6% - 21.5% (8.2%) OAS (%) 4.5% - 8.2% (4.8%) December 31, 2022 Level 3 Valuation Unobservable Quantitative Range of (Dollars in millions) Recurring fair value measurements: Residential mortgage servicing rights (1) $812 Discounted cash flow Weighted-average CPR (%) 6.1% - 15.1% (7.4%) OAS (%) 4.8% -8.2% (5.1%) _______ (1) See Note 6 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. FAIR VALUE OPTION The Company has elected the option to measure certain commercial mortgage loans held for sale at fair value. Commercial mortgage loans held for sale are valued based on traded market prices for comparable commercial mortgage-backed securitizations, into which the loans will be placed, adjusted for movements of interest rates and credit spreads. At December 31, 2023 and December 31, 2022, the balance of these loans was immaterial. The Company has elected the option to measure certain commercial and industrial loans held for sale at fair value, as these loans are actively traded in the secondary market. The Company is able to obtain fair value estimates for substantially all of these loans through a third party valuation service that is broadly used by market participants. While most of the loans are traded in the market, the volume and level of trading activity is subject to variability and the loans are not exchange-traded. The balance of these loans held for sale was immaterial at December 31, 2023 and December 31, 2022. Regions has elected the fair value option for all eligible agency residential first mortgage loans originated with the intent to sell. This election allows for a more effective offset of the changes in fair values of the loans and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting. Fair values of residential first mortgage loans held for sale are based on traded market prices of similar assets where available and/or discounted cash flows at market interest rates, adjusted for securitization activities that include servicing values and market conditions, and are recorded in loans held for sale. At December 31, 2023, the aggregate fair value of these loans totaled $184 million compared to aggregate unpaid principal of $177 million. At December 31, 2022, the aggregate fair value of these loans totaled $160 million compared to aggregate unpaid principal of $157 million. Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest income on loans held for sale. The following details net gains and losses resulting from changes in fair value of residential mortgage loans held for sale, which were recorded in mortgage income in the consolidated statements of income during the years ended December 31, 2023 and 2022. A net gain resulting from changes in fair value of residential mortgage loans held for sale totaled $3 million during the year ended December 31, 2023. A net loss resulting from changes in fair value of residential mortgage loans held for sale totaled $17 million during the year ended December 31, 2022. These changes in fair value are mostly offset by economic hedging activities. An immaterial portion of these amounts was attributable to changes in instrument-specific credit risk. NON-RECURRING FAIR VALUE MEASUREMENTS Items measured at fair value on a non-recurring basis include loans held for sale for which the fair value option has not been elected, foreclosed property and other real estate and equity investments without a readily determinable fair value; all of which may be considered either Level 2 or Level 3 valuation measurements. Non-recurring fair value adjustments related to loans held for sale, foreclosed property and other real estate are typically a result of the application of lower of cost or fair value accounting during the period. Non-recurring fair value adjustments related to equity investments without readily determinable fair values are the result of impairments or price changes from observable transactions. The balances of each of these assets, as well as the related fair value adjustments during the periods, were immaterial at both December 31, 2023 and December 31, 2022. FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of December 31, 2023 are as follows: 2023 Carrying Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 6,801 $ 6,801 $ 6,801 $ — $ — Debt securities held to maturity 754 716 — 716 — Debt securities available for sale 28,104 28,104 1,223 26,880 1 Loans held for sale 400 400 — 397 3 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 95,141 91,352 — — 91,352 Other earning assets 1,417 1,417 813 604 — Derivative assets 2,105 2,105 — 2,101 4 Financial liabilities: Derivative liabilities 2,691 2,691 — 2,690 1 Deposits with no stated maturity (4) 112,816 112,816 — 112,816 — Time deposits (4) 14,972 14,905 — 14,905 — Long-term borrowings 2,330 2,319 — 2,318 1 Loan commitments and letters of credit 156 156 — — 156 _________ (1) Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred. (2) The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. The fair value discount on the loan portfolio's net carrying amount at December 31, 2023 was $3.8 billion or 4.0 percent. (3) Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.7 billion at December 31, 2023. (4) The fair value of non-interest-bearing demand accounts, interest-bearing checking accounts, savings accounts, and money market accounts is the amount payable on demand at the reporting date (i.e., the carrying amount) as these instruments have an indeterminate maturity date. Fair values for time deposits are estimated by using discounted cash flow analyses, based on market spreads to benchmark rates. The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company's financial instruments as of December 31, 2022 are as follows: 2022 Carrying Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 11,227 $ 11,227 $ 11,227 $ — $ — Debt securities held to maturity 801 751 — 751 — Debt securities available for sale 27,933 27,933 1,187 26,744 2 Loans held for sale 354 354 — 335 19 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 94,044 89,540 — — 89,540 Other earning assets 1,308 1,308 529 779 — Derivative assets 2,609 2,609 3 2,603 3 Financial liabilities: Derivative liabilities 3,378 3,378 2 3,375 1 Deposits with no stated maturity (4) 125,971 125,971 — 125,971 — Time deposits (4) 5,772 5,697 — 5,697 — Long-term borrowings 2,284 2,376 — 2,375 1 Loan commitments and letters of credit 153 153 — — 153 _________ (1) Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred. (2) The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. The fair value discount on the loan portfolio's net carrying amount at December 31, 2022 was $4.5 billion or 4.8 percent. (3) Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.5 billion at December 31, 2022. (4) The fair value of non-interest-bearing demand accounts, interest-bearing checking accounts, savings accounts, and money market accounts is the amount payable on demand at the reporting date (i.e., the carrying amount) as these instruments have an indeterminate maturity date. Fair values for time deposits are estimated by using discounted cash flow analyses, based on market spreads to benchmark rates. |
Business Segment Information
Business Segment Information | 12 Months Ended |
Dec. 31, 2023 | |
Segment Reporting [Abstract] | |
Business Segment Information | NOTE 22. BUSINESS SEGMENT INFORMATION Each of Regions’ reportable segments is a strategic business unit that serves specific needs of Regions’ customers based on the products and services provided. The segments are based on the manner in which management views the financial performance of the business. The Company has three reportable segments: Corporate Bank, Consumer Bank, and Wealth Management, with the remainder in Other. The application and development of management reporting methodologies is a dynamic process and is subject to periodic enhancements. As these enhancements are made, financial results presented by each reportable segment may be periodically revised. Accordingly, the prior periods were updated to reflect these enhancements. The Corporate Bank segment represents the Company’s commercial banking functions including commercial and industrial, commercial real estate and investor real estate lending. This segment also includes equipment lease financing, as well as capital markets activities, which include securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition and other advisory services. Corporate Bank customers include corporate, middle market, and commercial real estate developers and investors. Corresponding deposit products related to these types of customers are also included in this segment. The Consumer Bank segment represents the Company’s branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships. These services are also provided through the Company's digital channels and contact center. The Wealth Management segment offers individuals, businesses, governmental institutions and non-profit entities a wide range of solutions to help protect, grow and transfer wealth. Offerings include credit related products, trust and investment management, asset management, retirement and savings solutions and estate planning. Other includes the Company’s Treasury function, the securities portfolio, wholesale funding activities, interest rate risk management activities and other corporate functions that are not related to a strategic business unit. Also within Other are certain reconciling items in order to translate the segment results that are based on management accounting practices into consolidated results. Management accounting practices utilized by Regions as the basis of presentation for segment results include the following: • Net interest income is presented based upon an FTP approach, for which market-based funding charges/credits are assigned within the segments. By allocating a cost or a credit to each product based on the FTP framework, management is able to more effectively measure the net interest margin contribution of its assets/liabilities by segment. The summation of the interest income/expense and FTP charges/credits for each segment is its designated net interest income. • Provision for (benefit from) credit losses is allocated to each segment based on an estimated loss methodology. The difference between the consolidated provision for (benefit from) credit losses and the segments’ estimated loss is reflected in Other. • Income tax expense (benefit) is calculated for the Corporate Bank, Consumer Bank and Wealth Management based on a consistent federal and state statutory rate. Any difference between the Company’s consolidated income tax expense (benefit) and the segments’ calculated amounts is reflected in Other. • Management reporting allocations of certain expenses are made in order to analyze the financial performance of the segments. These allocations consist of operational and overhead cost pools and are intended to represent the total costs to support a segment. The following tables present financial information for each reportable segment for the year ended December 31: 2023 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 2,003 $ 3,132 $ 185 $ — $ 5,320 Provision for (benefit from) credit losses 343 279 8 (77) 553 Non-interest income 712 1,044 457 43 2,256 Non-interest expense 1,223 2,574 427 192 4,416 Income (loss) before income taxes 1,149 1,323 207 (72) 2,607 Income tax expense (benefit) 287 330 52 (136) 533 Net income $ 862 $ 993 $ 155 $ 64 $ 2,074 Average assets $ 69,520 $ 37,762 $ 2,044 $ 43,691 $ 153,017 2022 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 1,961 $ 2,641 $ 184 $ — $ 4,786 Provision for (benefit from) credit losses 287 280 9 (305) 271 Non-interest income 803 1,165 426 35 2,429 Non-interest expense 1,184 2,296 404 184 4,068 Income before income taxes 1,293 1,230 197 156 2,876 Income tax expense (benefit) 323 308 50 (50) 631 Net income $ 970 $ 922 $ 147 $ 206 $ 2,245 Average assets $ 64,532 $ 36,623 $ 2,116 $ 56,121 $ 159,392 2021 Corporate Bank Consumer Wealth Other Consolidated (In millions) Net interest income $ 1,759 $ 2,016 $ 139 $ — $ 3,914 Provision for (benefit from) credit losses 295 254 10 (1,083) (524) Non-interest income 752 1,266 390 116 2,524 Non-interest expense 1,090 2,174 387 96 3,747 Income before income taxes 1,126 854 132 1,103 3,215 Income tax expense 282 213 33 166 694 Net income $ 844 $ 641 $ 99 $ 937 $ 2,521 Average assets $ 59,132 $ 34,309 $ 2,046 $ 58,782 $ 154,269 |
Commitments, Contingencies and
Commitments, Contingencies and Guarantees | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitment, Contingencies and Guarantees | NOTE 23. COMMITMENTS, CONTINGENCIES AND GUARANTEES COMMERCIAL COMMITMENTS Regions issues off-balance sheet financial instruments in connection with lending activities. The credit risk associated with these instruments is essentially the same as that involved in extending loans to customers and is subject to Regions’ normal credit approval policies and procedures. Regions measures inherent risk associated with these instruments by recording a reserve for unfunded commitments based on an assessment of the likelihood that the guarantee will be funded and the creditworthiness of the customer or counterparty. Collateral is obtained based on management’s assessment of the creditworthiness of the customer. Credit risk is represented in unused commitments to extend credit, standby letters of credit and commercial letters of credit. Credit risk associated with these instruments as of December 31 is represented by the contractual amounts indicated in the following table: 2023 2022 (In millions) Unused commitments to extend credit $ 63,631 $ 65,460 Standby letters of credit 1,997 1,962 Commercial letters of credit 78 75 Liabilities associated with standby letters of credit 32 35 Assets associated with standby letters of credit 34 37 Reserve for unfunded credit commitments 124 118 Unused commitments to extend credit —To accommodate the financial needs of its customers, Regions makes commitments under various terms to lend funds to consumers, businesses and other entities. These commitments include (among others) credit card and other revolving credit agreements, term loan commitments and short-term borrowing agreements. Many of these loan commitments have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of these commitments are expected to expire without being funded, the total commitment amounts do not necessarily represent future liquidity requirements. Standby letters of credit —Standby letters of credit are also issued to customers which commit Regions to make payments on behalf of customers if certain specified future events occur. Regions has recourse against the customer for any amount required to be paid to a third party under a standby letter of credit. The credit risk involved in the issuance of these guarantees is essentially the same as that involved in extending loans to clients and as such, the instruments are collateralized when necessary. Historically, a large percentage of standby letters of credit expire without being funded. The contractual amount of standby letters of credit represents the maximum potential amount of future payments Regions could be required to make and represents Regions’ maximum credit risk. Commercial letters of credit —Commercial letters of credit are issued to facilitate foreign or domestic trade transactions for customers. As a general rule, drafts will be drawn when the goods underlying the transaction are in transit. LEGAL CONTINGENCIES Regions and its subsidiaries are routinely subject to actual or threatened legal proceedings, including litigation and regulatory matters, arising in the ordinary course of business. Litigation matters range from individual actions involving a single plaintiff to class action lawsuits and can involve claims for substantial or indeterminate alleged damages or for injunctive or other relief. Regulatory investigations and enforcement matters may involve formal or informal proceedings and other inquiries initiated by various governmental agencies, law enforcement authorities, and self-regulatory organizations, and can result in fines, penalties, restitution, changes to Regions’ business practices, and other related costs, including reputational damage. At any given time, these legal proceedings are at varying stages of adjudication, arbitration, or investigation, and may relate to a variety of topics, including common law tort and contract claims, as well as statutory consumer protection-related claims, among others. Assessment of exposure that could result from legal proceedings is complex because these proceedings often involve inherently unpredictable factors, including, but not limited to, the following: whether the proceeding is in early stages; whether damages or the amount of potential fines, penalties, and restitution are unspecified, unsupported, or uncertain; whether there is a potential for punitive or other pecuniary damages; whether the matter involves legal uncertainties, including novel issues of law; whether the matter involves multiple parties and/or jurisdictions; whether discovery or other investigation has begun or is not complete; whether material facts may be disputed or unsubstantiated; whether meaningful settlement discussions have commenced; and whether the matter involves class allegations. As a result of these complexities, Regions may be unable to develop an estimate or range of loss. Regions evaluates legal proceedings based on information currently available, including advice of counsel. Regions establishes accruals for those matters when a loss is considered probable and the related amount is reasonably estimable. Additionally, when it is practicable and reasonably possible that it may experience losses in excess of established accruals, Regions estimates possible loss contingencies. Regions currently estimates that the aggregate amount of reasonably possible losses that it may experience, in excess of what has been accrued, is immaterial. While the final outcomes of legal proceedings are inherently unpredictable, management is currently of the opinion that the outcomes of pending and threatened matters will not have a material effect on Regions’ business, consolidated financial position, results of operations or cash flows as a whole. As available information changes, the matters for which Regions is able to estimate, as well as the estimates themselves, will be adjusted accordingly. Regions’ estimates are subject to significant judgment and uncertainties, and the matters underlying the estimates will change from time to time. In the event of unexpected future developments, it is possible that an adverse outcome in any such matter could be material to Regions’ business, consolidated financial position, results of operations, or cash flows as a whole for any particular reporting period of occurrence. Some of Regions’ exposure with respect to loss contingencies may be offset by applicable insurance coverage. However, in determining the amounts of any accruals or estimates of possible loss contingencies, Regions does not take into account the availability of insurance coverage. To the extent that Regions has an insurance recovery, the proceeds are recorded in the period the recovery is received. GUARANTEES FANNIE MAE LOSS SHARE GUARANTEE Regions sells commercial loans to Fannie Mae through the DUS lending program and through other platforms. The DUS program provides liquidity to the multi-family housing market. Regions services loans sold to Fannie Mae and is required to provide a loss share guarantee equal to one-third of the principal balance for the majority of the commercial servicing portfolio. At December 31, 2023 and December 31, 2022, the Company's DUS servicing portfolio totaled approximately $6.2 billion and $4.9 billion, respectively. Regions has additional loans sold to Fannie Mae outside of the DUS program that are also subject to a loss share guarantee and at December 31, 2023 and December 31, 2022, these serviced loans totaled approximately $653 million and $655 million, respectively. Regions' maximum quantifiable contingent liability related to all loans subject to a loss share guarantee was approximately $2.3 billion at December 31, 2023 and $1.8 billion at December 31, 2022. The Company would be liable for this amount only if all of the loans it services for Fannie Mae, for which the Company retains some risk of loss, were to default and all of the collateral underlying these loans was determined to be without value at the time of settlement. Therefore, the maximum quantifiable contingent liability is not representative of the actual loss the Company would be expected to incur. The estimated fair value of the associated loss share guarantee recorded as a liability on the Company's consolidated balance sheets was immaterial at both December 31, 2023 and December 31, 2022. Refer to Note 1 for additional information. VISA INDEMNIFICATION As a member of the Visa USA network, Regions, along with other members, indemnified Visa USA against litigation. On October 3, 2007, Visa USA was restructured and acquired several Visa affiliates. In conjunction with this restructuring, Regions' indemnification of Visa USA was modified to cover specific litigation (“covered litigation”). A portion of Visa's proceeds from its IPO was put into escrow to fund the covered litigation. To the extent that the amount available under the escrow arrangement, or subsequent fundings of the escrow account resulting from reductions in the class B share conversion ratio, is insufficient to fully resolve the covered litigation, Visa will enforce the indemnification obligations of Visa USA's members for any excess amount. At this time, Regions has concluded that it is not probable that covered litigation exposure will exceed the class B share value. |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2023 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | The following tables present total non-interest income disaggregated by major product category for each reportable segment for the period indicated (refer to Note 1 for descriptions of the accounting and reporting policies related to revenue recognition): Year Ended December 31, 2023 Corporate Bank Consumer Wealth Other Segment Revenue Other (1) Total (In millions) Service charges on deposit accounts $ 193 $ 396 $ 3 $ — $ — $ 592 Card and ATM fees 45 446 1 1 11 504 Capital markets income 92 — — 1 129 222 Investment management and trust fee income — — 313 — — 313 Mortgage income — — — — 109 109 Investment services fee income — — 138 — — 138 Commercial credit fee income — — — — 105 105 Bank-owned life insurance — — — — 78 78 Securities gains (losses), net — — — — (5) (5) Market value adjustments on employee benefit assets - other — — — — 15 15 Other miscellaneous income 40 51 2 — 92 185 $ 370 $ 893 $ 457 $ 2 $ 534 $ 2,256 Year Ended December 31, 2022 Corporate Bank Consumer Wealth Other Segment Revenue Other (1) Total (In millions) Service charges on deposit accounts $ 177 $ 458 $ 3 $ 2 $ 1 $ 641 Card and ATM fees 45 457 — — 11 513 Capital markets income 108 — — — 231 339 Investment management and trust fee income — — 297 — — 297 Mortgage income — — — — 156 156 Investment services fee income — — 122 — — 122 Commercial credit fee income — — — — 96 96 Bank-owned life insurance — — — — 62 62 Insurance proceeds (2) — — — — 50 50 Securities gains (losses), net — — — — (1) (1) Market value adjustments on employee benefit assets - other — — — — (45) (45) Other miscellaneous income 43 51 3 — 102 199 $ 373 $ 966 $ 425 $ 2 $ 663 $ 2,429 Year Ended December 31, 2021 Corporate Bank Consumer Wealth Other Segment Revenue Other (1) Total (In millions) Service charges on deposit accounts $ 160 $ 480 $ 3 $ — $ 5 $ 648 Card and ATM fees 41 448 — (1) 11 499 Capital markets income 149 — — — 182 331 Investment management and trust fee income — — 278 — — 278 Mortgage income — — — — 242 242 Investment services fee income — — 104 — — 104 Commercial credit fee income — — — — 91 91 Bank-owned life insurance — — — — 82 82 Securities gains (losses), net — — — — 3 3 Market value adjustments on employee benefit assets - other — — — — 20 20 Gain on equity investment — — — — 3 3 Other miscellaneous income 39 55 4 3 122 223 $ 389 $ 983 $ 389 $ 2 $ 761 $ 2,524 _________ (1) This revenue is not impacted by the accounting guidance adopted in 2018 and continues to be recognized when earned in accordance with the Company's prior revenue recognition policy. (2) In the third quarter of 2022, the Company settled a previously disclosed matter with the CFPB. The Company received an insurance reimbursement related to the settlement in the fourth quarter of 2022. |
Parent Company Only Financial S
Parent Company Only Financial Statements | 12 Months Ended |
Dec. 31, 2023 | |
Condensed Financial Information Disclosure [Abstract] | |
Parent Company Only Financial Statements | Presented below are condensed financial statements of Regions Financial Corporation: Balance Sheets December 31 2023 2022 (In millions) Assets Interest-bearing deposits in other banks $ 1,869 $ 1,594 Debt securities available for sale 20 21 Premises and equipment, net 47 28 Investments in subsidiaries: Banks 16,882 15,676 Non-banks 425 385 17,307 16,061 Other assets 291 275 Total assets $ 19,534 $ 17,979 Liabilities and Shareholders’ Equity Long-term borrowings $ 1,832 $ 1,786 Other liabilities 273 246 Total liabilities 2,105 2,032 Shareholders’ equity: Preferred stock 1,659 1,659 Common stock 10 10 Additional paid-in capital 11,757 11,988 Retained earnings 8,186 7,004 Treasury stock, at cost (1,371) (1,371) Accumulated other comprehensive income, net (2,812) (3,343) Total shareholders’ equity 17,429 15,947 Total liabilities and shareholders’ equity $ 19,534 $ 17,979 Statements of Income Year Ended December 31 2023 2022 2021 (In millions) Income: Dividends received from subsidiaries $ 1,609 $ 1,351 $ 2,250 Interest from subsidiaries 1 4 8 Other 7 (3) 22 1,617 1,352 2,280 Expenses: Salaries and employee benefits 65 64 61 Interest expense 134 86 68 Equipment and software expense (2) 4 4 Other 70 62 96 267 216 229 Income before income taxes and equity in undistributed earnings of subsidiaries 1,350 1,136 2,051 Income tax benefit (43) (36) (43) Income before equity in undistributed earnings of subsidiaries and preferred stock dividends 1,393 1,172 2,094 Equity in undistributed earnings of subsidiaries: Banks 644 1,066 372 Non-banks 37 7 55 681 1,073 427 Net income 2,074 2,245 2,521 Preferred stock dividends (98) (99) (121) Net income available to common shareholders $ 1,976 $ 2,146 $ 2,400 Statements of Cash Flows Year Ended December 31 2023 2022 2021 (In millions) Operating activities: Net income $ 2,074 $ 2,245 $ 2,521 Adjustments to reconcile net cash from operating activities: Equity in undistributed earnings of subsidiaries (681) (1,073) (427) Provision for (benefit from) deferred income taxes (4) (3) (21) Depreciation, amortization and accretion, net 2 2 3 Loss on sale of assets (6) — — Loss (gain) on early extinguishment of debt — — 20 Net change in operating assets and liabilities: Other assets (11) 12 61 Other liabilities (9) (27) 1 Other 74 (89) (51) Net cash from operating activities 1,439 1,067 2,107 Investing activities: (Investment in) / repayment of investment in subsidiaries (8) (23) (21) Proceeds from sales and maturities of debt securities available for sale 13 8 5 Purchases of debt securities available for sale (11) (9) (3) Other, net (21) — — Net cash from investing activities (27) (24) (19) Financing activities: Proceeds from long-term borrowings — — 646 Payments on long-term borrowings — — (1,424) Cash dividends on common stock (787) (663) (608) Cash dividends on preferred stock (98) (99) (108) Net proceeds from issuance of preferred stock — — 390 Payment for redemption of preferred stock — — (500) Repurchases of common stock (252) (230) (467) Net cash from financing activities (1,137) (992) (2,071) Net change in cash and cash equivalents 275 51 17 Cash and cash equivalents at beginning of year 1,594 1,543 1,526 Cash and cash equivalents at end of year $ 1,869 $ 1,594 $ 1,543 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of Regions, its subsidiaries and certain VIEs. Significant intercompany balances and transactions have been eliminated. Regions considers a voting rights entity to be a subsidiary and consolidates it if Regions has a controlling financial interest in the entity. VIEs are consolidated if Regions has the power to direct the activities of the VIE that significantly impact financial performance and has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE (i.e., Regions is the primary beneficiary). The determination of whether Regions is the primary beneficiary of a VIE is reassessed on an ongoing basis. Investments in companies which are not VIEs but in which Regions has more than minor influence over the operating and financial policies, are accounted for using the equity method of accounting. Investments in VIEs, where Regions is not the primary beneficiary of a VIE, are accounted for using either the proportional amortization method or the equity method of accounting. These investments are included in other assets. The maximum potential exposure to losses relative to investments in VIEs is generally limited to the sum of the outstanding balance, future funding commitments and any related loans to the entity. Loans to these entities are underwritten in substantially the same manner as are other loans and are generally secured. Refer to Note 2 for additional disclosures regarding Regions’ significant VIEs. |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH EQUIVALENTS AND CASH FLOWS Cash equivalents represent assets that can be converted into cash immediately. At Regions, these assets include cash and due from banks, interest-bearing deposits in other banks, and federal funds sold and securities purchased under agreements to resell. Cash flows from loans, either originated or acquired, are classified at that time according to management’s intent to either sell or hold the loan for the foreseeable future. When management’s intent is to sell the loan, the cash flows of that loan are presented as operating cash flows. When management’s intent is to hold the loan for the foreseeable future, the cash flows of that loan are presented as investing cash flows. The following table summarizes supplemental cash flow information for the years ended December 31: 2023 2022 2021 (In millions) Cash paid during the period for: Interest on deposits and borrowed funds $ 1,441 $ 303 $ 185 Income taxes, net 376 336 367 Non-cash transfers: Loans held for sale and loans transferred to other real estate 21 21 14 Loans transferred to loans held for sale 15 22 240 Loans held for sale transferred to loans 18 24 277 Properties transferred to held for sale 79 6 38 |
Repurchase Agreements, Collateral, Policy [Policy Text Block] | SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities purchased under agreements to resell and securities sold under agreements to repurchase are treated as collateralized financing transactions. It is Regions’ policy to take possession of securities purchased under resell agreements either through direct delivery or a tri-party agreement. |
Investment, Policy [Policy Text Block] | DEBT SECURITIES Management determines the appropriate accounting classification of debt securities at the time of purchase, based on intent, and periodically re-evaluates such designations. Debt securities are classified as held to maturity when the Company has the intent and ability to hold the securities to maturity. Debt securities held to maturity are presented at amortized cost. Debt securities not classified as held to maturity are classified as available for sale and may be sold prior to maturity. Debt securities available for sale are presented at estimated fair value with changes in unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive income (loss). See the “Fair Value Measurements” section below for discussion of determining fair value. The amortized cost of debt securities classified as held to maturity and available for sale is adjusted for amortization of premiums and accretion of discounts to maturity, or first call date when applicable, using the effective interest method. Such amortization or accretion is included in interest income on securities. Realized gains and losses are included in net securities gains (losses). The cost of securities sold is based on the specific identification method. For debt securities available for sale, the Company reviews its securities portfolio for impairment and determines if impairment is related to credit loss or non-credit loss. In making the assessment of whether a loss is from credit or other factors, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows is less than the amortized cost basis, a credit loss exists and an allowance is created, limited by the amount that the fair value is less than the amortized cost basis. Subsequent activity related to the credit loss component (e.g. write-offs, recoveries) is recognized as part of the allowance for credit losses on debt securities available for sale. Securities held to maturity are evaluated under the allowance for credit losses model. For securities which have an expectation of zero nonpayment of the amortized cost basis (e.g. U.S. Treasury securities or agency securities), the expected credit loss is zero. Refer to Note 3 for further detail and information on securities. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | LOANS HELD FOR SALE Regions’ loans held for sale primarily includes commercial loans, investor real estate loans, and residential real estate mortgage loans. Loans held for sale are recorded at either estimated fair value, if the fair value option is elected, or the lower of cost or estimated fair value. Regions has elected to account for residential real estate mortgages originated with the intent to sell at fair value. Intent is established for these conforming residential real estate mortgage loans when Regions enters into an interest rate lock commitment. Gains and losses on these residential mortgage loans held for sale for which the fair value option has been elected are included in mortgage income. Management has elected the fair value option for certain commercial loans originated with the intent to sell and gains and losses on those loans are included in capital markets income. Regions also transfers loans that were originally recorded as held for investment to held for sale when management has the intent to sell in the near term. These loans held for sale are recorded at the lower of cost or estimated fair value. The amount is then considered the new cost basis of the loan. At the time of transfer, write-downs on the loans that are credit related are recorded as charge-offs. All other write-downs and gains and losses on the sale of these loans are included in other non-interest expense or other non-interest income (dependent on the type of loan). See the “Fair Value Measurements” section below for discussion of determining estimated fair value. |
Receivables, Policy [Policy Text Block] | LOANS Regions' loans balance is comprised of commercial, investor real estate and consumer loans. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are considered loans held for investment (or portfolio loans). Loans held for investment are carried at amortized cost (the principal amount outstanding, net of premiums, discounts, unearned income and deferred loan fees and costs). Regions elected to exclude accrued interest receivable balances from the amortized cost basis. Interest receivable is included as a separate line item on the balance sheet. Interest income on all types of loans is accrued based on the contractual interest rate and the principal amount outstanding using methods that approximate the interest method, except for those loans classified as non-accrual. Premiums and discounts on purchased loans and non-refundable loan origination and commitment fees, net of direct costs of originating or acquiring loans, are deferred and recognized over the contractual or estimated lives of the related loans as an adjustment to the loans’ constant effective yield, which is included in interest income on loans. Direct financing, sales-type and leveraged leases are included within the commercial portfolio segment. See Note 4 for further detail and information on loans and Note 13 for further detail and information on leases. Regions determines past due or delinquency status of a loan based on contractual payment terms. Commercial and investor real estate loans are placed on non-accrual if any of the following conditions occur: 1) collection in full of contractual principal and interest is no longer reasonably assured (even if current as to payment status), 2) a partial charge-off has occurred, unless the loan has been brought current under its contractual terms (original or restructured terms) and the full originally contracted principal and interest is considered to be fully collectible, or 3) the loan is delinquent on any principal or interest for 90 days or more unless the obligation is secured by collateral having a net realizable value (estimated fair value less costs to sell) sufficient to fully discharge the obligation and the loan is in the legal process of collection. Factors considered regarding full collection include assessment of changes in borrower’s cash flow, valuation of underlying collateral, ability and willingness of guarantors to provide credit support, and other conditions. Charge-offs on commercial and investor real estate loans are primarily based on the facts and circumstances of the individual loan and occur when available information confirms the loan is not or will not be fully collectible. Factors considered in making these determinations are the borrower’s and any guarantor’s ability and willingness to pay, the status of the account in bankruptcy court (if applicable), and collateral value. Commercial and investor real estate loan relationships of $250,000 or less are subject to charge-off or charge down to estimated fair value at 180 days past due, based on collateral value. Certain equipment finance loans are subject to charge-off at 120 days past due. Non-accrual and charge-off decisions for consumer loans are dictated by the FFIEC's Uniform Retail Credit Classification and Account Management Policy which establishes standards for the classification and treatment of consumer loans. The charge-off process drives consumer non-accrual status. If a consumer loan secured by real estate in a first lien position (residential first mortgage or home equity) becomes 180 days past due, Regions evaluates the loan for non-accrual status and potential charge-off based on collateral value. For home equity loans and lines of credit in a second lien position, the non-accrual evaluation is performed at 120 days past due and the potential charge-off evaluation is performed at 180 days past due. If a loan is secured by collateral having a net realizable value sufficient to fully discharge the obligation, then a partial write-down is not necessary and the loan remains on accrual status, provided it is in the process of legal collection. If a partial charge-off is necessary as a result of the evaluation, then the remaining balance is placed on non-accrual. Consumer loans not secured by real estate are generally charged-off at either 120 days past due for closed-end loans, 180 days past due for open-end loans other than credit cards or the end of the month in which the loan becomes 180 days past due for credit cards. When loans are placed on non-accrual status, the accrual of interest, amortization of loan premium, accretion of loan discount and amortization/accretion of deferred net loan fees/costs are discontinued. When a commercial or investor real estate loan is placed on non-accrual status, uncollected interest accrued in the current year is reversed and charged to interest income. Uncollected interest accrued from prior years on commercial and investor real estate loans placed on non-accrual status in the current year is charged against the allowance for loan losses. When a consumer loan is placed on non-accrual status, all uncollected interest accrued is reversed and charged to interest income due to immateriality. Interest collections on commercial and investor real estate non-accrual loans are applied as principal reductions. Interest collections on consumer non-accrual loans are recorded using the cash basis, due to immateriality. All loans on non-accrual status may be returned to accrual status and interest accrual resumed if all of the following conditions are met: 1) the loan is brought contractually current as to both principal and interest, 2) future payments are reasonably expected to continue being received in accordance with the terms of the loan and repayment ability can be reasonably demonstrated, and 3) the loan has been performing for at least six months. Purchased Loans Purchased loans are recorded at their fair value at the acquisition date. Purchased loans are evaluated and classified as either PCD, which indicates that the loan has experienced more than insignificant credit deterioration since origination, or non-PCD loans. For PCD loans, the sum of the loans' purchase price and allowance for credit losses, which is determined using the same methodology as originated loans, becomes their initial amortized cost basis. For non-PCD loans, the difference between the fair value and the par value is considered the fair value mark. The non-credit discount or premium related to PCD loans and the fair value mark on non-PCD loans is accreted or amortized into interest income over the contractual life of the loan using the effective interest method. Subsequent changes in the allowance to the PCD and non-PCD loans are recognized in the provision for credit losses. |
Financing Receivable, Allowance for Credit Losses, Policy or Methodology Change | Modifications to Borrowers Experiencing Financial Difficulty On January 1, 2023, the Company adopted new accounting guidance that eliminated the recognition and measurement guidance for TDRs while enhancing disclosure requirements for certain loan refinancings and restructurings made to borrowers experiencing financial difficulty, also referred to as modifications to troubled borrowers. Modifications to troubled borrowers are considered in the allowance the same as all other portfolio loans as described in the allowance section below. The guidance also requires disclosure of current-period gross write-offs by year of origination. Regions applied the guidance prospectively, except Regions used the modified-retrospective transition method related to the recognition and measurement of TDRs. The cumulative effect of the modified-retrospective application was a decrease in the allowance of $38 million and an increase to retained earnings of $28 million, net of taxes. Modifications to troubled borrowers are loans where the borrower is experiencing financial difficulty at the time of modification and are undertaken in order to improve the likelihood of repayment. Modification types classified as modifications to troubled borrowers include interest rate reductions, other than insignificant term extensions, other than insignificant payment deferrals, principal forgiveness, or any combination of these. Further details are as follows: • Interest rate reduction modifications include instances where the absolute interest rate is reduced as part of the modification. In instances where the rate index changes for variable-rate loans, Regions evaluates whether or not the absolute interest rate decreases from the original rate to the updated rate. • Term extensions are maturity extensions, many of which occur through renewals or restructurings. • Payment deferrals include modifications wherein the contractual payment term is extended. Examples of payment deferral modifications include, but are not limited to, re-agings, payment delays or holidays, lengthening of amortization terms, allowing for an interest-only payment period, and capitalizing interest payments in loan restructurings. • Regions rarely grants principal forgiveness modifications. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | TDRs |
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block] | ALLOWANCE The allowance is intended to cover expected credit losses over the contractual life of loans measured at amortized cost, including unfunded commitments. Management’s measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and R&S forecasts that affect the collectability of the reported amount. For periods beyond which Regions makes or obtains such R&S forecasts, Regions reverts to historical credit loss information. Regions maintains an appropriate level of allowance that falls within an acceptable range of estimated losses, measured in accordance with GAAP. Management's determination of the appropriateness of the allowance is based on many factors, including, but not limited to, an evaluation and rating of the loan portfolio; historical loan loss experience; current economic conditions; collateral values securing loans; levels of problem loans; volume, growth, quality and composition of the loan portfolio; regulatory guidance; R&S economic forecasts; and other relevant factors. Changes in any of these factors, assumptions, or the availability of new information, could require that the allowance be adjusted in future periods, perhaps materially. Loss forecasting models are built on historical loss information and then applied to the current portfolio. Outputs from the loss forecasting models in combination with Regions' qualitative framework, and other analyses are used to inform management in its estimation of Regions' expected credit losses. Actual losses could vary, perhaps materially, from management’s estimates. The entire allowance is available to cover all charge-offs that arise from the loan portfolio. Regions does not estimate an allowance on interest receivable balances because the Company has non-accrual polices in place that provide for the accrual of interest to cease on a timely basis when all contractual amounts due are not expected. Regions' allowance calculation is a significant estimate. Regions uses its best judgment to assess economic conditions and loss data in estimating the allowance and these estimates are subject to periodic refinement based on changes in underlying external or internal data. Therefore, assumptions and decisions driving the estimate may change as conditions change. These assumptions and estimates are detailed below. R & S forecast period During the two-year R&S forecast period, Regions incorporates forward-looking information by utilizing its internally developed and approved Base economic forecast. The scenario is developed by the Chief Economist and approved through a formal governance process. The Base forecast considers market forward/consensus information and is consistent with the Company's organization-wide economic outlook. When appropriate, additional scenarios, including externally created scenarios, are considered as part of the determination of the allowance. Reversion period Regions utilizes an exponential reversion approach that reverts to TTC rates derived from the simple average of all historical quarterly observations for PD, LGD, EAD and prepayment rates. The length of the reversion period differs by class of financing receivable. Historical loss period Regions does not adjust historical loss information for existing economic conditions or expectations of future economic conditions for periods that are beyond the R&S period. Regions utilizes internal historical loss information; however, there are certain loan portfolios that also benefit from the use of external or other reference data due to identified limitations with internal historical data. Contractual life Regions estimates expected credit losses over the contractual life of a loan. Regions defines contractual life for non-revolving loans as contractual maturity, net of estimated prepayments and excluding expected extensions, renewals and modifications unless an extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by Regions. Prior to 2023, the Company also deviated from contractual maturity for loans where the Company had a reasonable expectation at the reporting date that it would execute a TDR with the borrower ("RETDR"). See Note 1 in the Annual Report on Form 10-K for the year ended December 31, 2022 for a discussion of RETDRs. Contractual life of credit card receivables Regions estimates the life of credit card receivables based on the amount and timing of payments expected to be collected. Regions' credit card allowance estimate only considers the amount of debt outstanding at the reporting date (the current position) because undrawn balances are unconditionally cancellable. Regions classifies credit card accounts into one of three payment patterns: dormant, transacting or revolving. The dormant accounts are idle, carry no balance, and do not contribute to the allowance. The transacting account holders tend to pay the entire balance due every month and are, therefore, subject to practically no interest charges. For transactor accounts, the current position balance is expected to be paid off in one quarter. The revolving accounts tend to be subject to interest charges, and their current position balance liquidates over time. The majority of Regions' credit card portfolio balances are categorized as revolvers for the purpose of the allowance. Collateral-dependent loans A loan is considered to be collateral-dependent if the borrower is experiencing financial difficulty and management expects substantial repayment of the loan through the sale or operation of the collateral. Regions' collateral-dependent consumer loans are loans secured by collateral (primarily real estate) that meet the partial charge-down requirements disclosed within this section. Regions defines significant commercial and investor real estate non-accrual loans wherein repayment is expected to be substantially from the sale or operation of collateral as collateral dependent. For any collateral-dependent loans that meet Regions' specific allowance criteria (see below), Regions will calculate the allowance based on the fair value of collateral, less estimated cost to sell (if applicable). For collateral-dependent consumer, commercial and investor real estate loans that do not meet Regions' specific allowance criteria (as described below), Regions considers the value of the collateral through the LGD component of the loss model based on collateral type. Credit enhancements Regions' estimate of credit losses reflects how credit enhancements, other than those that are freestanding contracts, mitigate expected credit losses on financial assets. In the event that a credit enhancement arrangement is considered to be a freestanding contract, Regions excludes the credit enhancement from the related loan when estimating expected credit losses. Unfunded commitments and other off-balance sheet items Regions records a liability or allowance for credit losses for the unfunded portion of a loan commitment in the event that Regions does not have the unconditional right to cancel the commitment. For an unfunded commitment to be considered unconditionally cancellable, Regions must be able to, at any time, with or without cause, refuse to extend credit. The liability is measured over the full contractual period for which Regions is exposed to credit risk through a current obligation to extend credit. In determining the liability, management considers the likelihood that funding will occur, and if funded, the related expected credit losses under the allowance model. Regions' off-balance sheet unfunded commitments in the form of home equity lines, standby letters of credit, commercial letters of credit and commercial revolving products that are deemed to be conditionally cancellable will include unfunded balances within the allowance estimate. Future advances from certain unfunded commitments and other revolving products where Regions does have the unconditional right to cancel these agreements will not be included. CALCULATION OF ALLOWANCE FOR CREDIT LOSSES Pooled allowances The allowance is measured on a collective (pool) basis when similar risk characteristics exist. Segmentation variables for commercial and investor real estate segments include product, loan size, collateral type, risk rating and term. Segmentation variables considered for consumer segments include product, FICO, LTV, age, etc. The allowance is estimated for most portfolios and classes using econometric models to estimate expected credit losses. In general, discounted cash flow models are not used for the purpose of estimating expected losses for the purpose of the ACL. Most of the econometric models include PD, LGD, and EAD components. Less complex estimation methods are used for smaller loan portfolios. Specific allowances Due to their size, complexity and individualized risk characteristics and monitoring, the allowance for significant non-accrual commercial and investor real estate loans and unfunded commitments is measured on an individual basis. Loans evaluated individually are not included in the collective evaluation. Regions generally measures the allowance for these loans based on the present value of estimated cash flows, considering all facts and circumstances specific to the borrower and market and economic conditions. The allowance measurement for collateral-dependent loans that meet the individually evaluated threshold is based on the fair value less cost to sell, if applicable. TDRs and RETDRs In periods prior to 2023, loans identified as TDRs and RETDRs were included in their respective loan pools (if they did not qualify for specific evaluation) and losses were determined by allowance models. The effect of the interest rate concession on these loans was considered through a post-model adjustment. Qualitative framework While quantitative allowance methodologies strive to reflect all risk factors, any estimate involves assumptions and uncertainties resulting in some level of imprecision. Imprecision exists in the estimation process due to the inherent time lag between obtaining information, performing the calculation, as well as variations between estimates and actual outcomes. Regions adjusts the allowance considering quantitative and qualitative factors which may not be directly measured in the modeled calculations. Regions' qualitative framework provides for specific quantitatively supported model adjustments and general imprecision adjustments. Specific model adjustments capture highly specific issues or events that Regions believes are not adequately captured in model outcomes. General imprecision adjustments address other sources of imprecision that are not specifically identifiable or quantifiable to a particular loan portfolio and have not been captured by the model or by a specific model adjustment. Regions considers general imprecision in three dimensions; economic forecast imprecision, model imprecision, and process imprecision. Refer to Note 5 for further discussion regarding the calculation of the allowance for credit losses. |
Lessee, Leases [Policy Text Block] | LESSEES Regions' lease portfolio is primarily composed of property leases that are classified as operating leases. Property leases, which primarily include office locations and retail branches, typically have original lease terms ranging from 1 year to 20 years, some of which may also include an option to extend the lease beyond the original lease term. In some circumstances, Regions may also have an option to terminate the lease early with advance notice. Regions includes renewal and termination options within the lease term if deemed reasonably certain of exercise. As most leases do not state an implicit rate, Regions utilizes the incremental borrowing rate based on information available at the lease commencement date to determine the present value of lease payments. Leases with a term of 12 months or less are not recorded on the balance sheet. Regions continues to recognize lease payments as an expense over the lease term as appropriate. |
Lessor, Leases [Policy Text Block] | LESSORS Regions engages in both direct financing and sales-type leasing. Regions also has a portfolio of leveraged leases. These arrangements provide equipment financing for leased assets, such as vehicles and aircraft. At the commencement date, Regions (lessor) enters into an agreement with the customer (lessee) to lease the underlying equipment for a specified lease term. The lease agreements may provide customers the option to terminate the lease by buying the equipment at fair market value at the time of termination or at the end of the lease term. Regions' equipment finance asset management group performs due diligence procedures on the lease residual and overall equipment values as part of the origination process. Regions performs lease residual value reviews on an ongoing basis. In order to manage the residual value risk inherent in some of its direct financing leases, Regions purchases residual value insurance from an independent third party. |
Other Earning Assets [Policy Text Block] | OTHER EARNING ASSETS |
Property, Plant and Equipment, Policy [Policy Text Block] | PREMISES, EQUIPMENT AND SOFTWARE Premises and equipment are stated at cost, less accumulated depreciation and amortization, as applicable. Land is carried at cost. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized using the straight-line method over the estimated useful lives of the improvements (or the terms of the leases, if shorter). Generally, premises and leasehold improvements are depreciated or amortized over 7-40 years. Furniture and equipment are generally depreciated or amortized over 3-10 years. Software is generally depreciated over 3 years (or over a longer estimated life of 5-20 years for larger software systems). Premises, equipment, and software are evaluated for impairment at least annually, or more often if events or circumstances indicate that the carrying value of the asset may not be recoverable. Maintenance and repairs are charged to non-interest expense in the consolidated statements of income. Improvements that either add functionality or extend the useful life of the asset are capitalized to the carrying value and depreciated. See Note 8 for detail of premises and equipment. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | INTANGIBLE ASSETS Intangible assets include goodwill, which is the excess of cost over the fair value of net assets of acquired businesses, and other identifiable intangible assets. Other identifiable intangible assets primarily include relationship assets, which are amortized over their expected useful lives, and agency commercial real estate licenses, which are non-amortizing. The Company’s goodwill is tested for impairment on an annual basis in the fourth quarter, or more often if events or circumstances indicate that there may be impairment. Regions assesses the following indicators of goodwill impairment for each reporting period: • Recent operating performance, • Changes in market capitalization, • Regulatory actions and assessments, • Changes in the business climate (including legislation, legal factors and competition), • Company-specific factors (including changes in key personnel, asset impairments, and business dispositions), and • Trends in the banking industry. Adverse changes in the economic environment, declining operations of the reporting unit, or other factors could result in a decline in the implied estimated fair value of goodwill. Accounting guidance permits the Company to first assess qualitative factors to determine if it is more likely than not that the fair value of a reporting unit exceeds its carrying value. If, based on the weight of the evidence, the Company determines it is more likely than not that the fair value exceeds book value, then an impairment test is not necessary. If the Company elects to bypass the qualitative assessment, or concludes that it is more likely than not that the fair value is less than the carrying value, a goodwill impairment test is performed. The Company compares the estimated fair value of a reporting unit with its carrying amount, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of a reporting unit exceeds its estimated fair value, an impairment loss is recognized in non-interest expense in an amount equal to that excess. For purposes of performing the qualitative assessment, Regions' evaluation may include, but is not limited to, events and circumstances since the last impairment analysis, recent operating performance including reporting unit performance, changes in market capitalization, regulatory actions and assessments, changes in the business climate, company-specific factors, and trends in the banking industry to determine if it is more likely than not that the fair value of a reporting unit exceeds its carrying amount. For purposes of performing the goodwill impairment test, if applicable, Regions uses both income and market approaches to value its reporting units. The income approach, which is the primary valuation approach, consists of discounting projected long-term future cash flows, which are derived from internal forecasts and economic expectations for the respective reporting units. The significant inputs to the income approach include expected future cash flows, the long-term target equity ratios, and the discount rate. The market approaches incorporate comparable public company information, valuation multiples, and consideration of a market control premium along with data related to comparable observed purchase transactions in the financial services industry for the reporting units. Other identifiable intangible assets are reviewed at least annually (usually in the fourth quarter) for events or circumstances that could impact the recoverability of the intangible asset. These events could include loss of relationships, increased competition, or adverse changes in the economy. To the extent other identifiable intangible assets are deemed unrecoverable, impairment losses are recorded in non-interest expense and reduce the carrying amount of the asset. Refer to Note 9 for further detail and discussion of the results of the goodwill and other identifiable intangibles impairment tests. |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | ACCOUNTING FOR TRANSFERS AND SERVICING OF FINANCIAL ASSETS Regions accounts for transfers of financial assets as sales when control over the transferred assets is surrendered. Control is generally considered to have been surrendered when 1) the transferred assets are legally isolated from the Company or its consolidated affiliates, even in bankruptcy or other receivership, 2) the transferee has the right to pledge or exchange the assets with no conditions that constrain the transferee and provide more than a trivial benefit to the Company, and 3) the Company does not maintain the obligation or unilateral ability to reclaim or repurchase the assets. If these sale criteria are met, the transferred assets are removed from the Company’s balance sheet and a gain or loss on sale is recognized. If not met, the transfer is recorded as a secured borrowing, and the assets remain on the Company’s balance sheet, the proceeds from the transaction are recognized as a liability, and gain or loss on sale is deferred until the sale criterion are achieved. Regions has elected to account for its residential MSRs using the fair value measurement method. Under the fair value measurement method, residential MSRs are measured at estimated fair value each period with changes in fair value recorded as a component of mortgage income. The fair value of residential MSRs is calculated using various assumptions including future cash flows, market discount rates, expected prepayment rates, servicing costs and other factors. A significant change in prepayments of residential mortgages in the servicing portfolio could result in significant valuation adjustments, thus creating potential volatility in the carrying amount of residential MSRs. The valuation method relies on an OAS to consider prepayment risk and equate the asset's discounted cash flows to its market price. See the “Fair Value Measurements” section below for additional discussion regarding determination of fair value. Regions is a DUS lender. The DUS program provides liquidity to the multi-family housing market. Regions' related commercial MSRs are recorded in other assets at the lower of cost or estimated fair value and are amortized in proportion to, and over the estimated period that net servicing income is expected to be received based on projections of the amount and timing of estimated future net cash flows. The amount and timing of estimated future net cash flows are updated based on actual results and updated projections. Regions periodically evaluates these commercial MSRs for impairment. Regions has a one-third loss share guarantee associated with the majority of the DUS servicing portfolio. The other two-thirds loss share guarantee is retained by Fannie Mae. The estimated fair value of the loss share guarantee is recorded in other liabilities. Refer to Note 6 for further information on servicing of financial assets. |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | FORECLOSED PROPERTY AND OTHER REAL ESTATE Other real estate and certain other assets acquired in satisfaction of indebtedness (“foreclosure”) are carried in other assets at the lower of the recorded investment in the loan or estimated fair value less estimated costs to sell the property. At the date of transfer from the loan portfolio, if the recorded investment in the loan exceeds the property’s estimated fair value less estimated costs to sell, a write-down is recorded against the allowance. Regions allows a period of up to 60 days after the date of transfer to record finalized write-downs as charge-offs against the allowance in order to properly accumulate all related invoices and updated valuation information, if necessary. Subsequent to transfer, Regions obtains valuations from professional valuation experts and/or third party appraisers on at least an annual basis. See the “Fair Value Measurements” section below for additional discussion regarding determination of fair value. Subsequent to transfer and the additional 60 days, any further write-downs are recorded as other non-interest expense. Gain or loss on the sale of foreclosed property and other real estate is included in other non-interest expense. |
Equity Method Investments Issuances, Policy [Policy Text Block] | OTHER INVESTMENT ASSETS Regions has investments of approximately $262 million and $223 million at December 31, 2023 and 2022, respectively, that are recognized in other assets and accounted for using either the equity method of accounting or the measurement alternative to fair value for equity investments without a readily determinable fair value. Equity method investments consist primarily of investments in SBICs and private equity funds. Under the equity method of accounting, Regions records its proportionate share of the profits or losses of the investment entity as an adjustment to the carrying value of the investment and as a component of other non-interest income. Dividends and distributions received or receivables from these investments are recorded as reductions to the carrying value of the investments. The net balances of equity method investments were approximately $192 million and $153 million at December 31, 2023 and 2022, respectively. Equity investments that do not meet the criteria to be accounted for under the equity method and do not have a readily determinable fair value are accounted for at cost under the measurement alternative to fair value with adjustments for impairment and observable price changes as applicable. Dividends received or receivable and observable price changes from these investments are included as components of other non-interest income. These investments consist primarily of investments in strategic partners and certain CRA projects. The carrying amounts of these investments was $70 million at both December 31, 2023 and 2022. |
Derivatives, Policy [Policy Text Block] | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES The Company enters into derivative financial instruments to manage interest rate risk, facilitate asset/liability management strategies and manage other exposures. These instruments primarily include interest rate swaps, options on interest rate swaps, options including interest rate caps, floors and collars, forward rate contracts and forward sale commitments. All derivative financial instruments are recognized as other assets or other liabilities, as applicable, at estimated fair value. Regions enters into master netting agreements with counterparties and/or requires collateral to cover exposures. Where legally enforceable, these master netting agreements give the Company, in the event of default by the counterparty, the right to liquidate securities held as collateral and to offset receivables and payables with the same counterparty. For purposes of the consolidated balance sheets, the Company offsets derivative assets and liabilities and cash collateral held with the same counterparty where it has such a legally enforceable master netting agreement. In at least some cases, counterparties post collateral at a zero threshold regardless of credit rating. The majority of interest rate derivatives traded by Regions with dealing counterparties are subject to mandatory clearing through a central clearinghouse. The variation margin payments made for derivatives cleared through a central clearinghouse are legally characterized as settlements of the derivatives. The counterparty risk for cleared trades effectively moves from the executing broker to the clearinghouse allowing Regions to benefit from the risk mitigation controls in place at the respective clearinghouse. Interest rate swaps are agreements to exchange interest payments based upon notional amounts. Interest rate swaps subject Regions to market risk associated with changes in interest rates, changes in interest rate volatility, as well as the credit risk that the counterparty will fail to perform. Option contracts involve rights to buy or sell financial instruments on a specified date or over a period at a specified price. These rights do not have to be exercised. Some option contracts such as interest rate floors, involve the exchange of cash based on changes in specified indices. Interest rate floors are contracts to hedge interest rate declines based on a notional amount, generally associated with a principal balance at risk. Interest rate floors subject Regions to market risk associated with changes in interest rates, changes in interest rate volatility, as well as the credit risk that the counterparty will fail to perform. Forward rate contracts are commitments to buy or sell financial instruments at a future date at a specified price or yield. Regions primarily enters into forward rate contracts on marketable instruments, which expose Regions to market risk associated with changes in the value of the underlying financial instrument, as well as the credit risk that the counterparty will fail to perform. Forward sale commitments are sales of securities at a specified price at a future date. Forward sale commitments subject Regions to market risk associated with changes in market value, as well as the credit risk that the counterparty will fail to perform. The Company elects to account for certain derivative financial instruments as accounting hedges which, based on the exposure being hedged, are either fair value or cash flow hedges. Fair value hedge relationships mitigate exposure to the change in fair value of the hedged risk in an asset, liability or firm commitment. Certain fair value hedges may be entered into using the portfolio layer method, which allows the Company to hedge the interest rate risk of prepayable financial assets by designating as the hedged item a stated amount of a closed portfolio that is expected to be outstanding for the designated hedge period(s). Under the fair value hedging model, gains or losses attributable to the change in fair value of the derivative instrument, as well as the gains and losses attributable to the change in fair value of the hedged item, are recognized in interest income or interest expense in the same income statement line item with the hedged item in the period in which the change in fair value occurs. To the extent the changes in fair value of the derivative do not offset the changes in fair value of the hedged item, the difference is recognized. The corresponding adjustment to the hedged asset or liability is included in the basis of the hedged item, while the corresponding change in the fair value of the derivative instrument is recorded as an adjustment to other assets or other liabilities, as applicable. Cash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted transactions. For cash flow hedge relationships, the entire change in the fair value of the hedging instrument would be recorded in accumulated other comprehensive income (loss) except for amounts excluded from the assessment of hedge effectiveness. Amounts recorded in accumulated other comprehensive income (loss) are recognized in earnings in the same income statement line item where the earnings effect of the hedged item is presented in the period or periods during which the hedged item impacts earnings. The Company formally documents all hedging relationships, as well as its risk management objective and strategy for entering into various hedge transactions. The Company performs periodic qualitative and quantitative assessments to determine whether the hedging relationship has been highly effective in offsetting changes in fair values or cash flows of hedged items and whether the relationship is expected to continue to be highly effective in the future. If a hedge relationship is de-designated or if hedge accounting is discontinued because the hedged item no longer exists, or does not meet the definition of a firm commitment, or because it is probable that the forecasted transaction will not occur, the derivative will continue to be recorded as an other asset or other liability in the consolidated balance sheets at its estimated fair value, with changes in fair value recognized in other non-interest expense. Any asset or liability that was recorded pursuant to recognition of the firm commitment is removed from the consolidated balance sheets and recognized in other non-interest expense. Gains and losses that were unrecognized and aggregated in accumulated other comprehensive income (loss) pursuant to the hedge of a forecasted transaction are recognized immediately in other non-interest expense. Derivative contracts for which the Company has not elected to apply hedge accounting are classified as other assets or liabilities with gains and losses related to the change in fair value recognized in capital markets income or mortgage income, as applicable, in the statements of income during the period. These positions, as well as non-derivative instruments, are used to mitigate economic and accounting volatility related to customer derivative transactions, the mortgage pipeline and the fair value of residential MSRs. Regions enters into interest rate lock commitments, which are commitments to originate mortgage loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. Accordingly, such commitments are recorded at estimated fair value with changes in fair value recorded in mortgage income or capital markets income, as applicable. Regions also has corresponding forward sale commitments related to these interest rate lock commitments, which are recorded at estimated fair value with changes in fair value recorded in mortgage income or capital markets income, as applicable. See the “Fair Value Measurements” section below for additional information related to the valuation of interest rate lock commitments. Regions enters into various derivative agreements with customers desiring protection from possible future market fluctuations. Regions manages the market risk associated with these derivative agreements. The contracts in this portfolio for which the Company has elected not to apply hedge accounting are marked-to-market through capital markets income and included in other assets and other liabilities. Concurrent with the election to use fair value measurement for residential MSRs, Regions began using various derivative instruments to mitigate the impact of changes in the fair value of residential MSRs in the statements of income. This effort may involve the use of various derivative instruments, including, but not limited to, forwards, futures, swaps, options, and TBA's designed as derivative instruments. These derivatives are carried at estimated fair value, with changes in fair value reported in mortgage income. Derivative assets and liabilities are included in other assets and liabilities as operating cash flows in the consolidated statements of cash flows. On March 5, 2021, the FCA announced that LIBOR would not be available for use after December 31, 2021 and would not be published after June 30, 2023. In the third quarter of 2020, Regions adopted temporary accounting relief for affected transactions that reference LIBOR. In the second quarter of 2023, the Company entered into additional trades to transition remaining derivative exposures from LIBOR to SOFR. As part of this transition, the Company applied certain optional practical expedients exceptions in the previously-adopted accounting relief for hedges, specifically in applying contract modification guidance on hedges for the change in reference rate. See Note 1 in Regions' Annual Report on Form 10-K for the year ended December 31, 2020 for details. Refer to Note 20 for further discussion and details of derivative financial instruments and hedging activities. |
Income Tax, Policy [Policy Text Block] | INCOME TAXES The Company accounts for income taxes using the asset and liability method. Accrued income taxes and the net balance of deferred tax assets and liabilities are reported in other assets or other liabilities in the consolidated balance sheets, as appropriate. The Company reflects the expected amount of income tax to be paid or refunded during the year as current income tax expense or benefit, as applicable. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that the Company expects will apply at the time when the deferred tax assets and liabilities are expected to be realized. Deferred tax assets are also recorded for any tax attributes, such as tax credits and net operating loss carryforwards. The Company determines the realization of deferred tax assets by considering all positive and negative evidence available, and a valuation allowance is recorded for any deferred tax assets that are not more-likely-than-not to be realized. Any effect of a change in federal and state tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date. The Company will evaluate and recognize income tax benefits related to any uncertain tax positions using the recognition and cumulative-probability measurement thresholds. If the Company does not believe that it is more likely than not that an uncertain tax position will be sustained, the Company records a liability for the uncertain tax position. If a tax benefit is more-likely-than-not of being sustained based on the technical merits, the Company utilizes the cumulative probability measurement and records an income tax benefit equivalent to the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with a taxing authority. The Company recognizes interest and penalties related to unrecognized tax benefits within current income tax expense. The Company applies the proportional amortization method in accounting for its qualified affordable housing investments. This method recognizes the amortized cost of the investment as a component of income tax expense. The deferral method of accounting is used for investments that generate investment tax credits. Under this method, the investment tax credits are recognized as a reduction of the related asset. Refer to Note 19 for further discussion regarding income taxes. |
Treasury Stock and Share Repurchases [Policy Text Block] | TREASURY STOCK AND SHARE REPURCHASES The purchase of the Company’s common stock is recorded at cost. At the date of repurchase, shareholders' equity is reduced by the repurchase price, which, in 2023, includes any required excise tax payments on share repurchases. The Inflation Reduction Act of 2022 provides for a stock buyback excise tax equal to one percent of the fair market value of stock repurchased during the period less the fair market value of any stock issued during the period, including compensatory stock issuances. Treasury stock would be reduced by the cost of such stock with the excess of repurchase price over par or stated value recorded in additional paid-in capital. If the Company subsequently reissues treasury shares, treasury stock is reduced by the cost of such stock with differences recorded in additional paid-in capital or retained earnings, as applicable. Pursuant to past practice, shares repurchased were immediately retired, and therefore were not included in treasury stock. The Company's policy related to these share repurchases is to reduce its common stock based on the par value of the shares repurchased and to reduce its additional paid-in capital for the excess of the repurchase price over the par value. |
Compensation Related Costs, Policy [Policy Text Block] | SHARE-BASED PAYMENTS Regions sponsors stock plans which most commonly include restricted stock (i.e., unvested common stock) units, restricted stock awards and performance stock units. The Company accounts for share-based payments under the fair value recognition provisions whereby compensation cost is measured based on the estimated fair value of the award at the grant date and is recognized in the consolidated financial statements on a straight-line basis over the requisite service period for service-based awards. The fair value of restricted stock units, restricted stock awards or performance stock units is determined based on the closing price of Regions common stock on the date of grant. Historical data is also used to estimate future employee attrition, which is considered in calculating estimated forfeitures. Estimated forfeitures are adjusted when actual forfeitures differ from estimates, resulting in the recognition of compensation cost only for awards that vest. The effect of a change in estimated forfeitures is recognized through a cumulative catch-up adjustment that is included in salaries and employee benefits expense in the period of the change in estimate. As compensation cost is recognized, a deferred tax asset is recorded that represents an estimate of the future tax deduction from exercise or release of restrictions. At the time the share-based awards are exercised, cancelled, have expired, or restrictions are released, the Company may be required to recognize an adjustment to tax expense depending on the market price of the Company’s common stock. See Note 16 for further discussion and details of share-based payments. |
Pension and Other Postretirement Plans, Pensions, Policy [Policy Text Block] | EMPLOYEE BENEFIT PLANS Regions uses an expected long-term rate of return applied to the fair market value of assets as of the beginning of the year and the expected cash flows during the year for calculating the expected investment return on all pension plan assets. At a minimum, amortization of the net gain or loss included in accumulated other comprehensive income resulting from experience different from that assumed and from changes in assumptions is included as a component of net periodic benefit cost if, as of the beginning of the year, that net gain or loss exceeds 10 percent of the greater of the projected benefit obligation or the market value of plan assets. If amortization is required, the minimum amortization is that excess divided by the average remaining service period of active participating employees expected to receive benefits under the plans. Regions records the service cost component of net periodic pension and postretirement benefit cost in salaries and employee benefits expense. The other components of net periodic pension and postretirement benefit cost are recorded in other non-interest expense. Regions uses a third-party actuary to compute the remaining service period of active participating employees. This period reflects expected turnover, pre-retirement mortality, and other applicable employee demographics. See Note 17 for further discussion and details of employee benefit plans. |
Revenue Recognition, Policy [Policy Text Block] | REVENUE RECOGNITION The Company records revenue when control of the promised products or services is transferred to the customer (or performance obligations have been met), in an amount that reflects the consideration Regions expects to be entitled to receive in exchange for those products or services. Related to contract costs, Regions expenses sales commissions and any related contract costs when incurred because the amortization period would be one year or less. Related to remaining performance obligations, Regions does not disclose the value of unsatisfied performance obligations for 1) contracts with an original expected length of one year or less and 2) contracts for which revenue is recognized at the amount to which Regions has the right to invoice for services performed. Interest Income The largest source of revenue for Regions is interest income. Interest income is recognized using the interest method driven by nondiscretionary formulas based on written contracts, such as loan agreements or securities contracts. Service Charges on Deposit Accounts Service charges on deposit accounts include overdraft fees and other service charges. When a depositor presents an item for payment in excess of available funds, overdraft fees are earned when Regions, at its discretion, provides the necessary funds to complete the transaction. Prior to mid-2022, service charges on deposit accounts also included non-sufficient fund fees, which were earned when a depositor presented an item for payment in excess of available funds and an item was returned unpaid. Regions generates other service charges by providing depositors proper safeguard and remittance of funds as well as by providing optional services for depositors, such as check imaging or treasury management, that are performed upon the depositor’s request. Charges for the proper safeguard and remittance of funds are recognized monthly, as the customer retains funds in the account. Regions recognizes revenue for other optional services when the customer uses the selected service to execute a transaction (e.g., execute an ACH wire). Card and ATM Fees Card and ATM fees include the combined amounts of credit card, debit card, and ATM related revenue. The majority of the fees are card interchange where Regions earns a fee for remitting cardholder funds (or extends credit) via a third party network to merchants. Regions satisfies performance obligations for each transaction when the card is used and the funds are remitted. The network establishes interchange fees that the merchant remits to Regions for each transaction, and Regions incurs costs from the network for facilitating the interchange with the merchant. Due to its inability to establish prices and direct activities of the related processing network’s service, Regions is deemed the agent in this arrangement and records interchange revenues net of related costs. Regions also pays consideration to certain commercial card holders based on interchange fees and contractual volume. These costs are recognized as a reduction to interchange income. Card and ATM fees also include ATM fee income generated from allowing a Regions cardholder to withdraw funds from a non-Regions ATM and from allowing a non-Regions cardholder to withdraw funds from a Regions ATM. Regions satisfies performance obligations for each transaction when the withdrawal is processed. Regions does not direct activities of the related processing network’s service and recognizes revenue on a net basis as the agent in each transaction. Investment Management and Trust Fee Income Investment management and trust fee income represents revenue generated from asset management services provided to individuals, businesses, and institutions. Regions has a fiduciary responsibility to the beneficiary of the trust to perform agreed upon services which can include investing the assets, periodic reporting to the beneficiaries, and providing tax information regarding the trust. In exchange for these trust and custodial services, Regions collects fee income from beneficiaries as contractually determined via fee schedules. Regions’ performance obligations to customers are primarily satisfied over time as the services are performed and provided to the customer. Mortgage Income Mortgage income is recognized when earned or as each transaction occurs through the origination and servicing of residential mortgage loans for long-term investors and sales of residential mortgage loans in the secondary market. Mortgage income also includes any fair value adjustments for mortgage loans Regions has elected to measure under the fair value option and fair value adjustments related to mortgage servicing rights. Capital Markets Income Regions generates capital markets fee revenue through capital raising activities which include revenue streams such as securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivatives, merger and acquisition and other advisory services. For those revenue streams, revenue is primarily recognized at a point in time which coincides with the satisfaction of a single performance obligation, typically the transaction closing. Securities underwriting and placement fees involve the issuing and distribution of securities for an underwriting fee from customers. The underwriting fee is a single performance obligation which is satisfied at the time that the transaction is closed, and the amount of the fee is either a fixed or variable percentage based on the deal value which is determinable at the time of deal closing. Regions generates revenue from affordable housing investments through the syndication of investment funds to third parties. Regions transfers the primary benefits of the investment to the customer and recognizes syndication revenue on the closing date of the transaction. Bank-Owned Life Insurance Bank-owned life insurance income primarily represents income earned from the appreciation of the cash surrender value of insurance contracts held and the proceeds of insurance benefits. Regions recognizes revenue each period in the amount of the appreciation of the cash surrender value of the insurance policies. Revenue from the proceeds of insurance benefits is recognized at the time a claim is confirmed. Commercial Credit Fee Income Commercial credit fee income includes letters of credit fees and unused commercial commitment fees. Regions recognizes revenue for letters of credit fees and unused commercial commitment fees over time. Investment Services Fee Income Investment services fee income represents income earned from investment advisory services. Through the use of third party carriers, Regions provides its customers with access to investment products that meet customers’ financial needs and investment objectives. Upon selection of an investment product, the customer enters into a policy with the carrier. Regions’ performance obligation is satisfied by fulfilling its responsibility to place customers in investment vehicles for which Regions earns commissions from the carrier based on agreed-upon fee percentages. In addition, Regions has a contractual relationship with a third party broker dealer to provide full service brokerage and investment advisory activities. As the principal in the arrangement, Regions recognizes the investment services commissions on a gross basis. Securities Gains (Losses), Net Net securities gains or losses result from Regions’ asset/liability management process. Gains or losses on the sale of securities are recognized as each sales transaction occurs with the cost of securities sold based on the specific identification method. Market Value Adjustments on Employee Benefit Assets Regions holds assets for certain employee benefit assets, both defined and other. Those assets are recorded at estimated fair value and the market value variations are recognized each period. Other Miscellaneous Income |
Earnings Per Share, Policy [Policy Text Block] | PER SHARE AMOUNTS Earnings per common share is calculated by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing |
Fair Value of Financial Instruments, Policy [Policy Text Block] | FAIR VALUE MEASUREMENTS Fair value guidance establishes a framework for using fair value to measure assets and liabilities and defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) as opposed to the price that would be paid to acquire the asset or received to assume the liability (an entry price). A fair value measure should reflect the assumptions that market participants would use in pricing the asset or liability, including the assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of nonperformance. Required disclosures include stratification of balance sheet amounts measured at fair value based on inputs the Company uses to derive fair value measurements. These strata include: • Level 1 valuations, where the valuation is based on quoted market prices for identical assets or liabilities traded in active markets (which include exchanges and over-the-counter markets with sufficient volume), • Level 2 valuations, where the valuation is based on quoted market prices for similar instruments traded in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market, and • Level 3 valuations, where the valuation is generated from model-based techniques that use significant assumptions not observable in the market, but observable based on Company-specific data. These unobservable assumptions reflect the Company’s own estimates for assumptions that market participants would use in pricing the asset or liability. Valuation techniques typically include option pricing models, discounted cash flow models and similar techniques, but may also include the use of market prices of assets or liabilities that are not directly comparable to the subject asset or liability. ITEMS MEASURED AT FAIR VALUE ON A RECURRING BASIS Debt securities available for sale, certain mortgage loans held for sale, marketable equity securities, residential MSRs, derivative assets and derivative liabilities are recorded at fair value on a recurring basis. Below is a description of valuation methodologies for these assets and liabilities. Debt securities available for sale consist of U.S. Treasuries, MBS (including agency securities), obligations of states and political subdivisions, and other debt securities. • U.S. Treasuries are valued based on quoted market prices of identical assets on active exchanges. Pricing received for U.S. Treasuries from third-party services is based on a market approach using dealer quotes from multiple active market makers and real-time trading systems. These valuations are Level 1 measurements. • MBS are valued primarily using data from third-party pricing services for similar securities as applicable. Pricing from these third-party services is generally based on a market approach using observable inputs such as benchmark yields, reported trades, broker/dealer quotes, benchmark securities, TBA prices, issuer spreads, bids and offers, monthly payment information, and collateral performance, as applicable. These valuations are Level 2 measurements. Where such comparable data is not available, the Company develops valuations based on assumptions that are not readily observable in the market place; these valuations are Level 3 measurements. • Obligations of states and political subdivisions are generally based on data from third-party pricing services. The valuations are based on a market approach using observable inputs such as benchmark yields, relevant trade data, material event notices and new issue data. These valuations are Level 2 measurements. • Other debt securities are valued based on Level 1, 2 and 3 measurements, depending on pricing methodology selected and are valued primarily using data from third-party pricing services. Pricing from these third-party services is generally based on a market approach using observable inputs such as benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids and offers, and TRACE reported trades. The majority of Regions' debt securities available for sale are valued using third-party pricing services. To validate pricing related to liquid investment securities, which represent the vast majority of the available for sale portfolio (e.g., MBS), Regions compares price changes received from the third-party pricing service to overall changes in market factors in order to validate the pricing received. To validate pricing received on less liquid investment securities in the available for sale portfolio, Regions receives pricing from third-party brokers-dealers on a sample of securities that are then compared to the pricing received. The pricing service uses standard observable inputs when available, for example: benchmark yields, reported trades, broker-dealer quotes, issuer spreads, benchmark securities, and bids and offers, among others. For certain security types, additional inputs may be used, or some inputs may not be applicable. It is not customary for Regions to adjust the pricing received for the available for sale portfolio. In the event that prices are adjusted, Regions classifies the measurement as a Level 3 measurement. Mortgage loans held for sale consist of residential first mortgage loans and commercial mortgages held for sale. Regions has elected to measure certain residential and commercial mortgage loans held for sale at fair value by applying the fair value option (see additional discussion under the “Fair Value Option” section in Note 21). The residential first mortgage loans held for sale are valued based on traded market prices of similar assets where available and/or discounted cash flows at market interest rates, adjusted for securitization activities that include servicing value and market conditions, a Level 2 measurement. The commercial mortgage loans held for sale are valued based on traded market prices for comparable commercial mortgage-backed securitizations, into which the loans will be placed, adjusted for movements of interest rates and credit spreads, a Level 3 measurement due to the unobservable inputs included in the credit spreads for bonds in commercial mortgage-backed securitizations. Marketable equity securities, which primarily consist of assets held for certain employee benefits and money market funds, are valued based on quoted market prices of identical assets on active exchanges; these valuations are Level 1 measurements. Residential mortgage servicing rights are valued using an option-adjusted spread valuation approach, a Level 3 measurement. The underlying assumptions and estimated values are corroborated at least quarterly by values received from independent third parties. See Note 6 for information regarding the servicing of financial assets and additional details regarding the assumptions relevant to this valuation. Derivative assets and liabilities, which primarily consist of interest rate, foreign exchange, and commodity contracts that include forwards, futures, options and swaps, are included in other assets and other liabilities (as applicable) on the consolidated balance sheets. Interest rate swaps are predominantly traded in over-the-counter markets and, as such, values are determined using widely accepted discounted cash flow models, which are Level 2 measurements. These discounted cash flow models use projections of future cash payments/receipts that are discounted at an appropriate index rate. Regions utilizes forward curves as fair value measurement inputs for the valuation of interest rate and commodity derivatives. The projected future cash flows are sourced from an assumed yield curve, which is consistent with industry standards and conventions. These valuations are adjusted for the unsecured credit risk at the reporting date, which considers collateral posted and the impact of master netting agreements. For options and futures contracts traded in over-the-counter markets, values are determined using discounted cash flow analyses and option pricing models based on market rates and volatilities, which are Level 2 measurements. Interest rate lock commitments on loans intended for sale and risk participations categorized as credit derivatives are valued using option pricing models that incorporate significant unobservable inputs, and therefore are Level 3 measurements. ITEMS MEASURED AT FAIR VALUE ON A NON-RECURRING BASIS From time to time, certain assets may be recorded at fair value on a non-recurring basis. These non-recurring fair value adjustments typically are a result of the application of lower of cost or fair value accounting or a write-down occurring during the period. For example, if the fair value of an asset in these categories falls below its cost basis, it is considered to be at fair value at the end of the period of the adjustment. In periods where there is no adjustment, the asset is generally not considered to be at fair value. The following is a description of the valuation methodologies used for assets measured at fair value on a non-recurring basis. Foreclosed property and other real estate is carried in other assets at the lower of the recorded investment in the loan or fair value less estimated costs to sell the property. The fair value for foreclosed property that is based on either observable transactions of similar instruments or formally committed sale prices is classified as a Level 2 measurement. If no formally committed sale price is available, Regions also obtains valuations from professional valuation experts and/or third party appraisers. Updated valuations are obtained on at least an annual basis. Foreclosed property exceeding established dollar thresholds is valued based on appraisals. Appraisals are performed by third-parties with appropriate professional certifications and conform to generally accepted appraisal standards as evidenced by the Uniform Standards of Professional Appraisal Practice. Regions’ policies related to appraisals conform to regulations established by the Financial Institutions Reform, Recovery and Enforcement Act of 1989 and other regulatory guidance. Professional valuations are considered Level 2 measurements because they are based largely on observable inputs. Regions has a centralized appraisal review function that is responsible for reviewing appraisals for compliance with banking regulations and guidelines as well as appraisal standards. Based on these reviews, Regions may make adjustments to the market value conclusions determined in the appraisals of real estate (either as other real estate or loans held for sale) when the appraisal review function determines that the valuation is based on inappropriate assumptions or where the conclusion is not sufficiently supported by the market data presented in the appraisal. Adjustments to the market value conclusions are discussed with the professional valuation experts and/or third-party appraisers; the magnitude of the adjustments that are not mutually agreed upon is insignificant. Adjustments, if made, must be based on sufficient information available to support an alternate opinion of market value. An estimated standard discount factor, which is updated at least annually, is applied to the appraisal amount for certain commercial and investor real estate properties when the recorded investment in the loan is transferred into foreclosed property. Internally adjusted valuations are considered Level 3 measurements as management uses assumptions that may not be observable in the market. These non-recurring fair value measurements are typically recorded on the date an updated offered quote, appraisal, or third-party valuation is received. Equity investments without a readily determinable fair value are adjusted prospectively to estimated fair value when an observable price transaction for a same or similar investment with the same issuer occurs; these valuations are Level 3 measurements. Loans held for sale for which the fair value option has not been elected are recorded at the lower of cost or fair value and therefore may be reported at fair value on a non-recurring basis. The fair values for commercial loans held for sale are based on Company-specific data not observable in the market. These valuations are Level 3 measurements. FAIR VALUE OF FINANCIAL INSTRUMENTS The following methods and assumptions were used by the Company in estimating fair values of financial instruments that are not disclosed above: Cash and cash equivalents : The carrying amounts reported in the consolidated balance sheets and statements of cash flows approximate the estimated fair values. Because these amounts generally relate to either currency or highly liquid assets, these are considered Level 1 valuations. Debt securities held to maturity : The fair values of debt securities held to maturity are estimated in the same manner as the corresponding debt securities available for sale, which are measured at fair value on a recurring basis. Loans (excluding sales-type, direct financing, and leveraged leases), net of unearned income and allowance for loan losses : A discounted cash flow method under the income approach is utilized to estimate the fair value of the loan portfolio. The discounted cash flow method relies upon assumptions about the amount and timing of scheduled principal and interest payments, principal prepayments, and current market rates. The loan portfolio is aggregated into categories based on loan type and credit quality. For each loan category, weighted average statistics, such as coupon rate, age, and remaining term are calculated. These are Level 3 valuations. Other earning assets (excluding equity investments) : The carrying amounts reported in the consolidated balance sheets approximate the estimated fair values. When available, the fair values of these other earning assets are estimated using quoted market prices of identical instruments traded in active markets and are considered Level 1 measurements. Other instruments utilize valuation inputs that are actively quoted and can be validated through external sources or are reported at par as required by regulatory guidelines, and are considered Level 2 valuations. Deposits : The fair value of non-interest-bearing demand accounts, interest-bearing checking accounts, savings accounts, money market accounts and certain other time deposit accounts is the amount payable on demand at the reporting date (i.e., the carrying amount) and are considered Level 2 valuations. Fair values for certificates of deposit are estimated by using discounted cash flow analyses, based on market spreads to benchmark rates, and are considered Level 2 valuations. Short-term borrowings: The carrying amounts of short-term borrowings reported in the consolidated balance sheets approximate the estimated fair values, and are considered Level 2 measurements as similar instruments are traded in active markets. Long-term borrowings : The fair values of certain long term borrowings are estimated using quoted market prices of identical instruments in non-active markets and are considered Level 2 valuations. Otherwise, valuations are based on non-binding broker quotes and are considered Level 3 valuations. Loan commitments and letters of credit : The fair value of these instruments is reasonably estimated by the carrying value of deferred fees plus the unfunded loan commitments reserve related to the creditworthiness of the counterparty. Because the valuation inputs are not observable in the market and are considered Company specific, these are Level 3 valuations. |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS The following table provides a brief description of accounting standards adopted in 2023 and those that could have a material impact to Regions’ consolidated financial statements upon adoption in the future. Standard Description Required Date of Adoption Effect on Regions' financial statements or other significant matters Standards Adopted (or partially adopted) in 2023 ASU 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures This Update is intended to improve the decision usefulness of information provided to investors about certain loan refinancing, restructurings, and write-offs. The amendments in the Update eliminate the accounting guidance for TDRs by creditors that have adopted CECL while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty. The Update also requires that a public business entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases. The amendments in this Update were applied prospectively, except for the transition method related to the recognition and measurement of TDRs for which there was an option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. January 1, 2023 The adoption of this guidance did not have a material impact. See Note 1 Basis of Presentation for additional information. ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions This Update clarifies how the fair value of equity securities subject to contractual sale restrictions is determined. ASU 2022-03 clarifies that a contractual sale restriction should not be considered in measuring fair value. It also requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. January 1, 2023 The adoption of this guidance did not have a material impact. ASU 2023-03, Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718) This Update amends or supersedes various SEC paragraphs within the Codification to conform to past SEC staff announcements and guidance issued by the SEC. The Update does not provide any new guidance so there is no transition guidance or effective date associated with it. Effective upon issuance The adoption of this guidance did not have a material impact. Standard Description Required Date of Adoption Effect on Regions' financial statements or other significant matters Standards Adopted After 2023 ASU 2023-02, Investments —Equity Method and Joint Ventures (Topic 323) Accounting for Investments in Tax Credit Structures This Update allows entities to elect to account for equity investments made primarily for the purpose of receiving income tax credits using the proportional amortization method, regardless of the tax credit program through which the investment earns income tax credits, if certain conditions were met. The Update also sets forth the conditions needed to apply the proportional amortization method. The Update further eliminates certain low income housing tax credit-specific guidance to align the accounting more closely for low income housing tax credits with the accounting for other equity investments in tax credit structures and require that the delayed equity contribution apply only to tax equity investments accounted for using the proportional amortization method. January 1, 2024 Regions adopted this guidance as of January 1, 2024 with ASU 2023-05, Business Combinations— This Update requires certain joint ventures, upon formation, to use a new basis of accounting by applying most aspects of the acquisition method for business combinations. New joint ventures generally will recognize and initially measure assets and liabilities at fair value. The Update is effective for all joint ventures with a formation date on or after January 1, 2025. Early adoption is permitted. January 1, 2025 The adoption of this guidance is not likely to have a material impact. Regions will continue to evaluate through date of adoption. ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative This Update incorporates into the Codification 14 of the 27 disclosures referred by the SEC in Release No. 33‐10532, Disclosure Update and Simplification. This Update clarifies and improves the disclosure and presentation requirements of a variety of Topics in the Codification to align with the SEC's regulations. The date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective. The adoption of this guidance is not likely to have a material impact. Regions will continue to evaluate through date of adoption. ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The Board is issuing this Update to improve the disclosures about a public entity's reportable segments on an annual and interim basis and address requests from investors for additional, more detailed information about a reportable segment's expenses. January 1, 2024 Regions adopted this guidance as of January 1, 2024 with ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures The ASU improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. January 1, 2025 The adoption of this guidance is not likely to have a material impact. Regions will continue to evaluate through date of adoption. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Supplemental Cash Flow Information | The following table summarizes supplemental cash flow information for the years ended December 31: 2023 2022 2021 (In millions) Cash paid during the period for: Interest on deposits and borrowed funds $ 1,441 $ 303 $ 185 Income taxes, net 376 336 367 Non-cash transfers: Loans held for sale and loans transferred to other real estate 21 21 14 Loans transferred to loans held for sale 15 22 240 Loans held for sale transferred to loans 18 24 277 Properties transferred to held for sale 79 6 38 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Variable Interest Entities Schedule Of Equity Method Investments [Abstract] | |
Affordable Housing Tax Credit Investments | A summary of Regions’ affordable housing tax credit investments and related loans and letters of credit, representing Regions’ maximum exposure to loss as of December 31 is as follows: 2023 2022 (In millions) Affordable housing tax credit investments included in other assets $ 1,415 $ 1,238 Unfunded affordable housing tax credit commitments included in other liabilities 592 511 Loans and letters of credit commitments 730 598 Funded portion of loans and letters of credit commitments 395 282 2023 2022 2021 (In millions) Tax credits and other tax benefits recognized $ 207 $ 180 $ 165 Tax credit amortization expense included in income tax expense 166 149 139 |
Debt Securities (Tables)
Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule Of Amortized Cost, Gross Unrealized Gains And Losses, And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity | NOTE 3. DEBT SECURITIES The amortized cost, gross unrealized gains and losses, and estimated fair value of debt securities held to maturity and debt securities available for sale are as follows: December 31, 2023 Recognized in OCI (1) Not recognized in OCI Amortized Gross Unrealized Gains Gross Unrealized Losses Carrying Value Gross Gross Estimated (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ 247 $ — $ (8) $ 239 $ — $ (16) $ 223 Commercial agency 516 — (1) 515 — (22) 493 $ 763 $ — $ (9) $ 754 $ — $ (38) $ 716 Debt securities available for sale: U.S. Treasury securities $ 1,322 $ — $ (99) $ 1,223 $ 1,223 Federal agency securities 1,085 4 (46) 1,043 1,043 Obligations of states and political subdivisions 2 — — 2 2 Mortgage-backed securities: Residential agency 19,450 52 (2,130) 17,372 17,372 Commercial agency 7,807 2 (502) 7,307 7,307 Commercial non-agency 93 — (10) 83 83 Corporate and other debt securities 1,105 4 (35) 1,074 1,074 $ 30,864 $ 62 $ (2,822) $ 28,104 $ 28,104 December 31, 2022 Recognized in OCI (1) Not recognized in OCI Amortized Gross Unrealized Gains Gross Unrealized Losses Carrying Value Gross Gross Estimated (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ 289 $ — $ (10) $ 279 $ — $ (21) $ 258 Commercial agency 523 — (1) 522 — (29) 493 $ 812 $ — $ (11) $ 801 $ — $ (50) $ 751 Debt securities available for sale: U.S. Treasury securities $ 1,310 $ — $ (123) $ 1,187 $ 1,187 Federal agency securities 898 — (62) 836 836 Obligations of states and political subdivisions 2 — — 2 2 Mortgage-backed securities: Residential agency 19,477 — (2,523) 16,954 16,954 Residential non-agency 1 — — 1 1 Commercial agency 8,262 — (649) 7,613 7,613 Commercial non-agency 198 — (12) 186 186 Corporate and other debt securities 1,219 1 (66) 1,154 1,154 $ 31,367 $ 1 $ (3,435) $ 27,933 $ 27,933 _________ (1) The gross unrealized losses recognized in OCI on securities held to maturity resulted from a transfer of securities available for sale to held to maturity in the second quarter of 2013. |
Schedule Of Cost And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity By Contractual Maturity | The amortized cost and estimated fair value of debt securities held to maturity and debt securities available for sale at December 31, 2023, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Estimated (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ 247 $ 223 Commercial agency 516 493 $ 763 $ 716 Debt securities available for sale: Due in one year or less $ 369 $ 363 Due after one year through five years 2,600 2,455 Due after five years through ten years 390 384 Due after ten years 155 140 Mortgage-backed securities: Residential agency 19,450 17,372 Commercial agency 7,807 7,307 Commercial non-agency 93 83 $ 30,864 $ 28,104 |
Schedule Of Gross Unrealized Losses And Estimated Fair Value Of Securities Available For Sale and Held To Maturity | The following tables present gross unrealized losses and the related estimated fair value of debt securities held to maturity and debt securities available for sale at December 31, 2023 and December 31, 2022. For debt securities transferred to held to maturity from available for sale, the analysis in the tables below compares the securities' original amortized cost to its current estimated fair value. All securities in an unrealized position are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more. December 31, 2023 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ — $ — $ 223 $ (23) $ 223 $ (23) Commercial agency — — 493 (23) 493 (23) $ — $ — $ 716 $ (46) $ 716 $ (46) Debt securities available for sale: U.S Treasury securities $ 6 $ — $ 1,201 $ (99) $ 1,207 $ (99) Federal agency securities 237 (5) 666 (41) 903 (46) Mortgage-backed securities: Residential agency 241 (3) 15,144 (2,127) 15,385 (2,130) Commercial agency 612 (7) 6,583 (495) 7,195 (502) Commercial non-agency — — 82 (10) 82 (10) Corporate and other debt securities 23 — 879 (35) 902 (35) $ 1,119 $ (15) $ 24,555 $ (2,807) $ 25,674 $ (2,822) December 31, 2022 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Debt securities held to maturity: Mortgage-backed securities: Residential agency $ 251 $ (29) $ 7 $ (1) $ 258 $ (30) Commercial agency 469 (26) 24 (4) 493 (30) $ 720 $ (55) $ 31 $ (5) $ 751 $ (60) Debt securities available for sale: U.S. Treasury securities $ 276 $ (8) $ 903 $ (115) $ 1,179 $ (123) Federal agency securities 766 (50) 53 (12) 819 (62) Mortgage-backed securities: Residential agency 9,350 (1,005) 7,578 (1,518) 16,928 (2,523) Commercial agency 6,110 (400) 1,503 (249) 7,613 (649) Commercial non-agency 141 (8) 45 (4) 186 (12) Corporate and other debt securities 736 (36) 354 (30) 1,090 (66) $ 17,379 $ (1,507) $ 10,436 $ (1,928) $ 27,815 $ (3,435) |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
Schedule Of Loan Portfolio, Net Of Unearned Income | The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income as of December 31: 2023 2022 (In millions) Commercial and industrial $ 50,865 $ 50,905 Commercial real estate mortgage—owner-occupied 4,887 5,103 Commercial real estate construction—owner-occupied 281 298 Total commercial 56,033 56,306 Commercial investor real estate mortgage 6,605 6,393 Commercial investor real estate construction 2,245 1,986 Total investor real estate 8,850 8,379 Residential first mortgage 20,207 18,810 Home equity lines 3,221 3,510 Home equity loans 2,439 2,489 Consumer credit card 1,341 1,248 Other consumer—exit portfolio 43 570 Other consumer 6,245 5,697 Total consumer 33,496 32,324 Total loans, net of unearned income (1) $ 98,379 $ 97,009 _________ (1) Loans are presented net of unearned income, unamortized discounts and premiums and deferred loan fees and costs of $965 million and $894 million at December 31, 2023 and December 31, 2022. |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
Analysis Of The Allowance For Credit Losses By Portfolio Segment | 2023 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, December 31, 2022 $ 665 $ 121 $ 678 $ 1,464 Cumulative effect of accounting guidance (1) (3) (3) (32) (38) Allowance for loan losses, January 1, 2023 (adjusted for change in accounting guidance) 662 118 646 $ 1,426 Provision for loan losses 205 74 268 547 Loan losses: Charge-offs (197) — (293) (490) Recoveries 52 — 41 93 Net loan (losses) recoveries (145) — (252) (397) Allowance for loan losses, December 31, 2023 722 192 662 1,576 Reserve for unfunded credit commitments, January 1, 2023 72 21 25 118 Provision for (benefit from) unfunded credit losses 20 (8) (6) 6 Reserve for unfunded credit commitments, December 31, 2023 92 13 19 124 Allowance for credit losses, December 31, 2023 $ 814 $ 205 $ 681 $ 1,700 2022 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, January 1, 2022 $ 682 $ 79 $ 718 $ 1,479 Provision for loan losses 40 45 163 248 Loan losses: Charge-offs (107) (5) (263) (375) Recoveries 50 2 60 112 Net loan (losses) recoveries (57) (3) (203) (263) Allowance for loan losses, December 31, 2022 665 121 678 1,464 Reserve for unfunded credit commitments, January 1, 2022 58 8 29 95 Provision for (benefit from) unfunded credit losses 14 13 (4) 23 Reserve for unfunded credit commitments, December 31, 2022 72 21 25 118 Allowance for credit losses, December 31, 2022 $ 737 $ 142 $ 703 $ 1,582 2021 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, January 1, 2021 $ 1,196 $ 183 $ 788 $ 2,167 Provision for (benefit from) loan losses (445) (87) 39 (493) Initial allowance on acquired PCD loans — — 9 9 Loan losses: Charge-offs (128) (20) (180) (328) Recoveries 59 3 62 124 Net loan (losses) recoveries (69) (17) (118) (204) Allowance for loan losses, December 31, 2021 682 79 718 1,479 Reserve for unfunded credit commitments, January 1, 2021 97 14 15 126 Provision for (benefit from) unfunded credit losses (39) (6) 14 (31) Reserve for unfunded credit commitments, December 31, 2021 58 8 29 95 Allowance for credit losses, December 31, 2021 $ 740 $ 87 $ 747 $ 1,574 _____ |
Financing Receivable Credit Quality Indicators | December 31, 2023 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2023 2022 2021 2020 2019 Prior (In millions) Commercial and industrial: Risk rating: Pass $ 8,272 $ 9,123 $ 5,267 $ 2,326 $ 1,376 $ 3,210 $ 18,561 $ — $ 53 $ 48,188 Special Mention 87 186 71 109 26 90 484 — — 1,053 Substandard Accrual 141 212 74 38 7 3 678 — — 1,153 Non-accrual 128 102 37 6 20 10 168 — — 471 Total commercial and industrial $ 8,628 $ 9,623 $ 5,449 $ 2,479 $ 1,429 $ 3,313 $ 19,891 $ — $ 53 $ 50,865 Gross charge-offs $ 12 $ 57 $ 55 $ 28 $ 15 $ 16 $ 12 $ — $ — $ 195 December 31, 2023 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2023 2022 2021 2020 2019 Prior (In millions) Commercial real estate mortgage—owner-occupied: Risk rating: Pass $ 799 $ 954 $ 988 $ 658 $ 343 $ 801 $ 76 $ — $ (5) $ 4,614 Special Mention 21 13 33 20 7 13 14 — — 121 Substandard Accrual 3 34 32 14 8 24 1 — — 116 Non-accrual 4 3 10 8 3 8 — — — 36 Total commercial real estate mortgage—owner-occupied: $ 827 $ 1,004 $ 1,063 $ 700 $ 361 $ 846 $ 91 $ — $ (5) $ 4,887 Gross charge-offs $ 1 $ — $ — $ — $ — $ 1 $ — $ — $ — $ 2 Commercial real estate construction—owner-occupied: Risk rating: Pass $ 89 $ 53 $ 44 $ 24 $ 11 $ 38 $ 3 $ — $ — $ 262 Special Mention — 7 — — — 1 — — — 8 Substandard Accrual — 1 — 1 — 1 — — — 3 Non-accrual 2 — — 2 — 4 — — — 8 Total commercial real estate construction—owner-occupied: $ 91 $ 61 $ 44 $ 27 $ 11 $ 44 $ 3 $ — $ — $ 281 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Total commercial $ 9,546 $ 10,688 $ 6,556 $ 3,206 $ 1,801 $ 4,203 $ 19,985 $ — $ 48 $ 56,033 Gross commercial charge-offs $ 13 $ 57 $ 55 $ 28 $ 15 $ 17 $ 12 $ — $ — $ 197 Commercial investor real estate mortgage: Risk rating: Pass $ 1,130 $ 1,587 $ 1,135 $ 488 $ 296 $ 110 $ 383 $ — $ (4) $ 5,125 Special Mention 269 247 52 59 30 — 90 — — 747 Substandard Accrual 134 197 — 67 67 3 32 — — 500 Non-accrual 99 57 37 — 12 28 — — — 233 Total commercial investor real estate mortgage $ 1,632 $ 2,088 $ 1,224 $ 614 $ 405 $ 141 $ 505 $ — $ (4) $ 6,605 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial investor real estate construction: Risk rating: Pass $ 256 $ 836 $ 280 $ 26 $ 2 $ 1 $ 649 $ — $ (15) $ 2,035 Special Mention — 122 — — — — 59 — — 181 Substandard Accrual — 25 — — — — 4 — — 29 Non-accrual — — — — — — — — — — Total commercial investor real estate construction $ 256 $ 983 $ 280 $ 26 $ 2 $ 1 $ 712 $ — $ (15) $ 2,245 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Total investor real estate $ 1,888 $ 3,071 $ 1,504 $ 640 $ 407 $ 142 $ 1,217 $ — $ (19) $ 8,850 Gross investor real estate charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential first mortgage: FICO scores: Above 720 $ 1,939 $ 2,863 $ 4,358 $ 4,390 $ 816 $ 2,353 $ — $ — $ — $ 16,719 681-720 226 298 355 255 52 294 — — — 1,480 620-680 86 153 153 112 43 270 — — — 817 Below 620 21 90 122 87 53 389 — — — 762 Data not available 33 16 49 46 11 92 1 — 181 429 Total residential first mortgage $ 2,305 $ 3,420 $ 5,037 $ 4,890 $ 975 $ 3,398 $ 1 $ — $ 181 $ 20,207 Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ — $ 1 December 31, 2023 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2023 2022 2021 2020 2019 Prior (In millions) Home equity lines: FICO scores: Above 720 $ — $ — $ — $ — $ — $ — $ 2,399 $ 45 $ — $ 2,444 681-720 — — — — — — 346 11 — 357 620-680 — — — — — — 184 9 — 193 Below 620 — — — — — — 97 7 — 104 Data not available — — — — — — 85 5 33 123 Total home equity lines $ — $ — $ — $ — $ — $ — $ 3,111 $ 77 $ 33 $ 3,221 Gross charge-offs $ — $ — $ — $ — $ — $ — $ 3 $ — $ — $ 3 Home equity loans: FICO scores: Above 720 $ 322 $ 370 $ 397 $ 205 $ 93 $ 529 $ — $ — $ — $ 1,916 681-720 53 62 49 22 14 60 — — — 260 620-680 19 27 23 8 8 52 — — — 137 Below 620 2 8 12 5 7 35 — — — 69 Data not available 1 4 5 3 3 25 — — 16 57 Total home equity loans $ 397 $ 471 $ 486 $ 243 $ 125 $ 701 $ — $ — $ 16 $ 2,439 Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ — $ 1 Consumer credit card: FICO scores: Above 720 $ — $ — $ — $ — $ — $ — $ 780 $ — $ — $ 780 681-720 — — — — — — 254 — — 254 620-680 — — — — — — 210 — — 210 Below 620 — — — — — — 95 — — 95 Data not available — — — — — — 20 — (18) 2 Total consumer credit card $ — $ — $ — $ — $ — $ — $ 1,359 $ — $ (18) $ 1,341 Gross charge-offs $ — $ — $ — $ — $ — $ — $ 52 $ — $ — $ 52 Other consumer—exit portfolios: FICO scores: Above 720 $ — $ — $ — $ — $ 2 $ 22 $ — $ — $ — $ 24 681-720 — — — — 1 4 — — — 5 620-680 — — — — — 5 — — — 5 Below 620 — — — — 1 7 — — — 8 Data not available — — — — — 1 — — — 1 Total other consumer—exit portfolios $ — $ — $ — $ — $ 4 $ 39 $ — $ — $ — $ 43 Gross charge-offs $ — $ — $ — $ — $ 19 $ 31 $ — $ — $ — $ 50 December 31, 2023 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2023 2022 2021 2020 2019 Prior (In millions) Other consumer (2) : FICO scores: Above 720 $ 1,312 $ 1,519 $ 501 $ 284 $ 155 $ 118 $ 119 $ — $ — $ 4,008 681-720 270 409 136 74 34 29 67 — — 1,019 620-680 178 294 103 50 21 20 53 — — 719 Below 620 52 147 65 31 14 13 30 — — 352 Data not available 94 10 7 5 114 65 1 — (149) 147 Total other consumer $ 1,906 $ 2,379 $ 812 $ 444 $ 338 $ 245 $ 270 $ — $ (149) $ 6,245 Gross charge-offs $ 59 $ 57 $ 32 $ 17 $ 9 $ 12 $ — $ — $ — $ 186 Total consumer loans $ 4,608 $ 6,270 $ 6,335 $ 5,577 $ 1,442 $ 4,383 $ 4,741 $ 77 $ 63 $ 33,496 Gross consumer charge-offs $ 59 $ 57 $ 32 $ 17 $ 28 $ 45 $ 55 $ — $ — $ 293 Total Loans $ 16,042 $ 20,029 $ 14,395 $ 9,423 $ 3,650 $ 8,728 $ 25,943 $ 77 $ 92 $ 98,379 Total Gross charge-offs $ 72 $ 114 $ 87 $ 45 $ 43 $ 62 $ 67 $ — $ — $ 490 December 31, 2022 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2022 2021 2020 2019 2018 Prior (In millions) Commercial and industrial: Risk rating: Pass $ 11,948 $ 7,167 $ 3,277 $ 2,297 $ 1,026 $ 3,283 $ 19,599 $ — $ 313 $ 48,910 Special Mention 85 120 70 30 32 1 282 — — 620 Substandard Accrual 248 114 39 57 53 17 500 — — 1,028 Non-accrual 95 55 11 9 36 6 135 — — 347 Total commercial and industrial $ 12,376 $ 7,456 $ 3,397 $ 2,393 $ 1,147 $ 3,307 $ 20,516 $ — $ 313 $ 50,905 Commercial real estate mortgage—owner-occupied: Risk rating: Pass $ 1,058 $ 1,175 $ 929 $ 479 $ 519 $ 626 $ 89 $ — $ (5) $ 4,870 Special Mention 7 32 17 10 15 12 2 — — 95 Substandard Accrual 10 16 36 35 5 6 1 — — 109 Non-accrual 1 2 9 1 5 11 — — — 29 Total commercial real estate mortgage—owner-occupied: $ 1,076 $ 1,225 $ 991 $ 525 $ 544 $ 655 $ 92 $ — $ (5) $ 5,103 Commercial real estate construction—owner-occupied: Risk rating: Pass $ 115 $ 79 $ 22 $ 15 $ 15 $ 38 $ 1 $ — $ — $ 285 Special Mention — — — — 2 — — — — 2 Substandard Accrual 2 — 2 — — 1 — — — 5 Non-accrual — — 1 1 — 4 — — — 6 Total commercial real estate construction—owner-occupied: $ 117 $ 79 $ 25 $ 16 $ 17 $ 43 $ 1 $ — $ — $ 298 Total commercial $ 13,569 $ 8,760 $ 4,413 $ 2,934 $ 1,708 $ 4,005 $ 20,609 $ — $ 308 $ 56,306 December 31, 2022 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2022 2021 2020 2019 2018 Prior (In millions) Commercial investor real estate mortgage: Risk rating: Pass $ 2,332 $ 1,321 $ 634 $ 466 $ 257 $ 94 $ 490 $ — $ (7) $ 5,587 Special Mention 229 75 — 18 — 3 38 — — 363 Substandard Accrual 107 — 74 138 68 3 — — — 390 Non-accrual 52 — — — — 1 — — — 53 Total commercial investor real estate mortgage $ 2,720 $ 1,396 $ 708 $ 622 $ 325 $ 101 $ 528 $ — $ (7) $ 6,393 Commercial investor real estate construction: Risk rating: Pass $ 458 $ 402 $ 205 $ 112 $ — $ 1 $ 722 $ — $ (16) $ 1,884 Special Mention 25 52 — — — — 5 — — 82 Substandard Accrual 3 — 17 — — — — — — 20 Non-accrual — — — — — — — — — — Total commercial investor real estate construction $ 486 $ 454 $ 222 $ 112 $ — $ 1 $ 727 $ — $ (16) $ 1,986 Total investor real estate $ 3,206 $ 1,850 $ 930 $ 734 $ 325 $ 102 $ 1,255 $ — $ (23) $ 8,379 Residential first mortgage: FICO scores: Above 720 $ 2,485 $ 4,455 $ 4,765 $ 899 $ 327 $ 2,445 $ — $ — $ — $ 15,376 681-720 337 412 313 83 42 300 — — — 1,487 620-680 168 183 129 53 34 295 — — — 862 Below 620 42 92 77 52 40 379 — — — 682 Data not available 27 45 47 13 4 98 2 — 167 403 Total residential first mortgage $ 3,059 $ 5,187 $ 5,331 $ 1,100 $ 447 $ 3,517 $ 2 $ — $ 167 $ 18,810 Home equity lines: FICO scores: Above 720 $ — $ — $ — $ — $ — $ — $ 2,620 $ 47 $ — $ 2,667 681-720 — — — — — — 369 12 — 381 620-680 — — — — — — 212 11 — 223 Below 620 — — — — — — 99 8 — 107 Data not available — — — — — — 97 4 31 132 Total home equity lines $ — $ — $ — $ — $ — $ — $ 3,397 $ 82 $ 31 $ 3,510 Home equity loans FICO scores: Above 720 $ 436 $ 466 $ 250 $ 117 $ 106 $ 582 $ — $ — $ — $ 1,957 681-720 75 62 26 17 14 67 — — — 261 620-680 29 28 11 12 9 58 — — — 147 Below 620 4 8 4 5 7 38 — — — 66 Data not available 4 3 3 3 4 24 — — 17 58 Total home equity loans $ 548 $ 567 $ 294 $ 154 $ 140 $ 769 $ — $ — $ 17 $ 2,489 Consumer credit card: FICO scores: Above 720 $ — $ — $ — $ — $ — $ — $ 719 $ — $ — $ 719 681-720 — — — — — — 246 — — 246 620-680 — — — — — — 204 — — 204 Below 620 — — — — — — 86 — — 86 Data not available — — — — — — 9 — (16) (7) Total consumer credit card $ — $ — $ — $ — $ — $ — $ 1,264 $ — $ (16) $ 1,248 December 31, 2022 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2022 2021 2020 2019 2018 Prior (In millions) Other consumer- exit portfolios: FICO scores: Above 720 $ — $ — $ — $ 102 $ 172 $ 96 $ — $ — $ — $ 370 681-720 — — — 30 40 23 — — — 93 620-680 — — — 17 30 17 — — — 64 Below 620 — — — 7 17 10 — — — 34 Data not available — — — 1 3 3 — — 2 9 Total other consumer- exit portfolios $ — $ — $ — $ 157 $ 262 $ 149 $ — $ — $ 2 $ 570 Other consumer (2) : FICO scores: Above 720 $ 2,072 $ 674 $ 382 $ 215 $ 99 $ 80 $ 119 $ — $ — $ 3,641 681-720 493 200 106 50 23 20 66 — — 958 620-680 348 153 73 34 19 15 55 — — 697 Below 620 102 69 38 20 12 8 23 — — 272 Data not available 61 6 5 130 73 5 2 — (153) 129 Total other consumer $ 3,076 $ 1,102 $ 604 $ 449 $ 226 $ 128 $ 265 $ — $ (153) $ 5,697 Total consumer loans $ 6,683 $ 6,856 $ 6,229 $ 1,860 $ 1,075 $ 4,563 $ 4,928 $ 82 $ 48 $ 32,324 Total Loans $ 23,458 $ 17,466 $ 11,572 $ 5,528 $ 3,108 $ 8,670 $ 26,792 $ 82 $ 333 $ 97,009 ________ (1) These amounts consist of fees that are not allocated at the loan level and loans serviced by third parties wherein Regions does not receive FICO or vintage information. (2) Other consumer class includes overdrafts and related gross charge-offs. Overdrafts are included in the current vintage year and the majority of overdraft gross charge-offs for the twelve months ended December 31, 2023 are also included in the current vintage year. |
Past Due Financing Receivables | The following tables include an aging analysis of DPD and loans on non-accrual status for each portfolio segment and class as of December 31, 2023 and December 31, 2022. Loans on non-accrual status with no related allowance totaled $280 million comprised of commercial and investor real estate loans at December 31, 2023. Loans on non-accrual status with no related allowance totaled $151 million comprised of commercial loans at December 31, 2022. Non–accrual loans with no related allowance typically include loans where the underlying collateral is deemed sufficient to recover all remaining principal. Loans that have been fully charged-off do not appear in the tables below. 2023 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total Total Non-accrual Total (In millions) Commercial and industrial $ 43 $ 21 $ 11 $ 75 $ 50,394 $ 471 $ 50,865 Commercial real estate mortgage—owner-occupied 3 2 — 5 4,851 36 4,887 Commercial real estate construction—owner-occupied — 1 — 1 273 8 281 Total commercial 46 24 11 81 55,518 515 56,033 Commercial investor real estate mortgage — — 23 23 6,372 233 6,605 Commercial investor real estate construction — — — — 2,245 — 2,245 Total investor real estate — — 23 23 8,617 233 8,850 Residential first mortgage 104 48 95 247 20,185 22 20,207 Home equity lines 17 10 20 47 3,192 29 3,221 Home equity loans 10 4 7 21 2,433 6 2,439 Consumer credit card 11 8 20 39 1,341 — 1,341 Other consumer—exit portfolios 2 1 — 3 43 — 43 Other consumer 60 31 29 120 6,245 — 6,245 Total consumer 204 102 171 477 33,439 57 33,496 $ 250 $ 126 $ 205 $ 581 $ 97,574 $ 805 $ 98,379 2022 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total Total Non-accrual Total (In millions) Commercial and industrial $ 36 $ 20 $ 30 $ 86 $ 50,558 $ 347 $ 50,905 Commercial real estate mortgage—owner-occupied 7 2 1 10 5,074 29 5,103 Commercial real estate construction—owner-occupied — — — — 292 6 298 Total commercial 43 22 31 96 55,924 382 56,306 Commercial investor real estate mortgage — — 40 40 6,340 53 6,393 Commercial investor real estate construction — — — — 1,986 — 1,986 Total investor real estate — — 40 40 8,326 53 8,379 Residential first mortgage 87 45 81 213 18,779 31 18,810 Home equity lines 18 12 15 45 3,482 28 3,510 Home equity loans 8 3 8 19 2,483 6 2,489 Consumer credit card 9 7 15 31 1,248 — 1,248 Other consumer—exit portfolios 7 3 1 11 570 — 570 Other consumer 46 21 17 84 5,697 — 5,697 Total consumer 175 91 137 403 32,259 65 32,324 $ 218 $ 113 $ 208 $ 539 $ 96,509 $ 500 $ 97,009 |
Modifications by class and segment | For each portfolio segment and class, the following table presents the end of period balance of new modifications to troubled borrowers and the related percentage of the loan portfolio period-end balance by the type of modification in the twelve months ended December 31, 2023. During 2023, the Company did not make any modifications of principal forgiveness. 2023 Term Extension Payment Deferral Term Extension and Interest Rate Modification Term Extension and Payment Deferral Total $ % (1) $ % (1) $ % (1) $ % (1) $ % (1) (Dollars in millions) Commercial and industrial $ 379 0.75 % $ 139 0.27 % $ — — % $ 37 0.07 % $ 555 1.09 % Commercial real estate mortgage—owner-occupied 3 0.05 % — — % — — % — — % 3 0.06 % Commercial real estate construction—owner-occupied 2 0.67 % 1 0.15 % — — % — — % 3 0.81 % Total commercial 384 0.68 % 140 0.25 % — — % 37 0.07 % 561 1.00 % Commercial investor real estate mortgage 213 3.23 % — — % — — % — — % 213 3.23 % Total investor real estate 213 2.41 % — — % — — % — — % 213 2.41 % Residential first mortgage 94 0.46 % 2 0.01 % 3 0.02 % — — % 99 0.49 % Home equity lines 1 0.02 % — — % 4 0.11 % — — % 5 0.13 % Home equity loans 4 0.17 % — — % 5 0.18 % — — % 9 0.35 % Total consumer 99 0.29 % 2 0.01 % 12 0.03 % — — % 113 0.34 % $ 696 0.71 % $ 142 0.14 % $ 12 0.01 % $ 37 0.04 % $ 887 0.90 % ____ (1) Amounts calculated based upon whole dollar values. |
Financial impact of modifications to troubled borrowers | The following table presents the financial impact of modifications to troubled borrowers during 2023 by portfolio segment, class of financing receivable, and the type of modification. The table includes new modifications to troubled borrowers, as well as renewals of existing modifications to troubled borrowers. 2023 Term Extension Payment Deferral Term Extension and Interest Rate Modification Term Extension and Payment Deferral Weighted-Average Term Extension Weighted-Average Payment Deferral Weighted-Average Term Extension Weighted-Average Reduction in Interest Rate Weighted-Average Term Extension Weighted-Average Payment Deferral (In years, except for percentage data) Commercial and industrial 1 0.5 — — 3 3 Commercial real estate mortgage—owner-occupied 1.50 — — — — — Commercial real estate construction—owner-occupied 0.25 — — — — — Commercial investor real estate mortgage 0.83 — — — — — Residential first mortgage 6 0.83 7 1 % — — Home equity lines 18 — 21 1 % — — Home equity loans 14 — 17 2 % — — |
Aging and non-accrual performance for modifications to troubled borrowers | The following table includes the end of period balances of aging and non-accrual performance for modifications to troubled borrowers modified in the twelve-month period since the adoption of related accounting guidance by portfolio segment and class. 2023 Current 30-89 DPD 90+ DPD Non-Performing Loans Total (In millions) Commercial and industrial $ 355 $ — $ 5 $ 195 $ 555 Commercial real estate mortgage—owner-occupied 1 — — 2 3 Commercial real estate construction—owner-occupied — — — 3 3 Total commercial 356 — 5 200 561 Commercial investor real estate mortgage 151 — — 62 213 Total investor real estate 151 — — 62 213 Residential first mortgage 75 16 5 3 99 Home equity lines 5 — — — 5 Home equity loans 6 1 — 2 9 Total consumer 86 17 5 5 113 $ 593 $ 17 $ 10 $ 267 $ 887 For modifications to troubled borrowers, a subsequent payment default is defined in terms of delinquency, when a principal or interest payment is 90 days past due or classified as non-accrual status during the reporting period. As of December 31, 2023, subsequent defaults of the loans restructured as a modification to a troubled borrower during the twelve-month period ended December 31, 2023 totaled $116 million. |
Troubled Debt Restructurings on Financing Receivables | The following table presents the end of period balance for loans modified in a TDR during the period presented by portfolio segment and class, and the financial impact of those modifications. The table includes modifications made to new TDRs, as well as renewals of existing TDRs. Twelve Months Ended December 31, 2022 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 50 $ 174 $ — Commercial real estate mortgage—owner-occupied 11 5 — Commercial real estate construction—owner-occupied — 3 — Total commercial 61 182 — Commercial investor real estate mortgage 5 48 — Commercial investor real estate construction — — — Total investor real estate 5 48 — Residential first mortgage 983 135 6 Home equity lines 94 6 4 Home equity loans 208 14 — Consumer credit card 4 — — Other consumer—exit portfolios — — — Other consumer 5 — — Total consumer 1,294 155 10 1,360 $ 385 $ 10 |
Servicing of Financial Assets (
Servicing of Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Transfers and Servicing of Financial Assets [Abstract] | |
Schedule of Residential Mortgage Servicing Rights Under The Fair Value Measurement Method | The table below presents an analysis of residential MSRs under the fair value measurement method for the years ended December 31: 2023 2022 2021 (In millions) Carrying value, beginning of year $ 812 $ 418 $ 296 Additions 27 44 77 Purchases (1) 158 301 72 Increase (decrease) in fair value (2) : Due to change in valuation inputs or assumptions 17 127 43 Economic amortization associated with borrower repayments (3) (108) (78) (70) Carrying value, end of year $ 906 $ 812 $ 418 _________ (1) Purchases of residential MSRs can be structured with cash hold back provisions, therefore the timing of payment may be made in future periods. (2) Included in mortgage income. Amounts presented exclude offsetting impact from related derivatives. (3) |
Data And Assumptions Used In The Fair Value Calculation As Well As The Valuation's Sensitivity To Rate Fluctuations Related To Mortgage Servicing Rights | Data and assumptions used in the fair value calculation, as well as the valuation’s sensitivity to rate fluctuations, related to residential MSRs (excluding related derivative instruments) as of December 31 are as follows: 2023 2022 (Dollars in millions) Unpaid principal balance $ 62,059 $ 54,603 Weighted-average CPR (%) 8.2 % 7.4 % Estimated impact on fair value of a 10% increase $ (43) $ (50) Estimated impact on fair value of a 20% increase $ (79) $ (89) Option-adjusted spread (basis points) 482 507 Estimated impact on fair value of a 10% increase $ (19) $ (19) Estimated impact on fair value of a 20% increase $ (39) $ (37) Weighted-average coupon interest rate 3.8 % 3.6 % Weighted-average remaining maturity (months) 302 308 Weighted-average servicing fee (basis points) 27.4 27.1 |
Other Earning Assets (Tables)
Other Earning Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Other Earning Assets [Abstract] | |
Schedule Of Investments in Federal Reserve Bank Stock And Federal Home Loan Bank Stock | The following table presents the amount of Regions' investments in Federal Reserve Bank and FHLB stock as of December 31: 2023 2022 (In millions) Federal Reserve Bank stock $ 434 $ 438 FHLB stock 18 15 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | A summary of premises, equipment and software, net at December 31 is as follows: 2023 2022 (In millions) Land $ 409 $ 420 Premises and improvements 1,555 1,680 Furniture and equipment 1,103 1,056 Software 1,034 969 Leasehold improvements 449 455 Construction in progress 150 101 4,700 4,681 Accumulated depreciation and amortization (3,058) (2,963) $ 1,642 $ 1,718 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | Goodwill allocated to each reportable segment (each a reporting unit) at December 31 is presented as follows: 2023 2022 (In millions) Corporate Bank $ 3,006 $ 3,006 Consumer Bank 2,334 2,334 Wealth Management 393 393 $ 5,733 $ 5,733 |
Summary Of Other Intangible Assets | The following table presents other identifiable intangible assets and related accumulated amortization as of December 31: 2023 2022 2023 2022 2023 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount (In millions) Core deposit intangibles $ 1,011 $ 1,011 $ 1,010 $ 1,006 $ 1 $ 5 Purchased credit card relationship assets 175 175 169 164 6 11 Relationship assets (1) 267 267 90 58 177 209 Other—amortizing (2) 26 26 24 21 2 5 Agency commercial real estate licenses (3) 16 16 — — 16 16 Other—non-amortizing (4) 3 3 — — 3 3 $ 1,498 $ 1,498 $ 1,293 $ 1,249 $ 205 $ 249 _________ (1) Includes intangible assets related to broker and contractor origination networks, vendor networks, and customer relationships. (2) Includes intangible assets primarily related to acquired trust services, trade names, intellectual property, and employee agreements. (3) Includes a DUS license acquired in 2014 and commercial real estate licenses acquired in 2021 that are non-amortizing intangible assets. In 2022, an immaterial purchase accounting adjustment resulted in an update to commercial real estate licenses. Refer to Note 6 for additional information related to the DUS license. (4) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The aggregate amount of amortization expense for amortizing intangible assets is estimated as follows: Year Ended December 31 (In millions) 2024 $ 36 2025 30 2026 25 2027 21 2028 18 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Deposits [Abstract] | |
Schedule Of Interest-Bearing Deposits | The following schedule presents a detail of interest-bearing deposits at December 31: 2023 2022 (In millions) Interest-bearing checking $ 24,480 $ 25,676 Savings 12,604 15,662 Money market—domestic 33,364 33,285 Time deposits 14,972 5,772 Total interest-bearing deposits $ 85,420 $ 80,395 |
Schedule Of Aggregate Amount Of Maturities Of All Time Deposits | At December 31, 2023, the aggregate amounts of maturities of all time deposits (deposits with stated maturities, consisting primarily of certificates of deposit and IRAs) were as follows: December 31, 2023 (In millions) 2024 $ 12,900 2025 1,551 2026 269 2027 194 2028 40 Thereafter 18 $ 14,972 |
Long-Term Borrowings (Tables)
Long-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Long-term Borrowings [Abstract] | |
Schedule of Long-term Debt Instruments | Long-term borrowings at December 31 consist of the following: 2023 2022 (In millions) Regions Financial Corporation (Parent): 2.25% senior notes due May 2025 $ 747 $ 747 1.80% senior notes due August 2028 646 646 7.75% subordinated notes due September 2024 100 100 6.75% subordinated debentures due November 2025 153 153 7.375% subordinated notes due December 2037 298 298 Valuation adjustments on hedged long-term debt (112) (158) 1,832 1,786 Regions Bank: 6.45% subordinated notes due June 2037 496 496 Other long-term debt 2 2 498 498 $ 2,330 $ 2,284 |
Schedule of Maturities of Long-term Debt | The aggregate amount of contractual maturities of all long-term debt in each of the next five years and thereafter is as follows: Year Ended December 31 Regions Regions (In millions) 2024 $ 100 $ — 2025 859 — 2026 — — 2027 — — 2028 575 — Thereafter 298 498 $ 1,832 $ 498 |
Regulatory Capital Requiremen_2
Regulatory Capital Requirements and Regulations (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Banking and Thrift, Other Disclosure [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | The following tables summarize the applicable holding company and bank regulatory capital requirements: December 31, 2023 (1) Minimum Requirement Minimum Requirement plus SCB (2) To Be Well Amount Ratio (Dollars in millions) Common equity Tier 1 capital: Regions Financial Corporation $ 12,976 10.26 % 4.50 % 7.00 % N/A Regions Bank 14,136 11.22 4.50 7.00 6.50 % Tier 1 capital: Regions Financial Corporation $ 14,635 11.57 % 6.00 % 8.50 % 6.00 % Regions Bank 14,136 11.22 6.00 8.50 8.00 Total capital: Regions Financial Corporation $ 16,885 13.35 % 8.00 % 10.50 % 10.00 % Regions Bank 16,057 12.74 8.00 10.50 10.00 Leverage capital: Regions Financial Corporation $ 14,635 9.72 % 4.00 % 4.00 % N/A Regions Bank 14,136 9.44 4.00 4.00 5.00 % December 31, 2022 Minimum Requirement Minimum Requirement plus SCB (2) To Be Well Amount Ratio (Dollars in millions) Common equity Tier 1 capital: Regions Financial Corporation $ 12,066 9.60 % 4.50 % 7.00 % N/A Regions Bank 13,509 10.77 4.50 7.00 6.50 % Tier 1 capital: Regions Financial Corporation $ 13,725 10.91 % 6.00 % 8.50 % 6.00 % Regions Bank 13,509 10.77 6.00 8.50 8.00 Total capital: Regions Financial Corporation $ 15,767 12.54 % 8.00 % 10.50 % 10.00 % Regions Bank 15,172 12.10 8.00 10.50 10.00 Leverage capital: Regions Financial Corporation $ 13,725 8.90 % 4.00 % 4.00 % N/A Regions Bank 13,509 8.80 4.00 4.00 5.00 % _________ (1) The 2023 Basel III CET1 capital, Tier 1 capital, Total capital, and Leverage capital ratios are estimated (2) Reflects Regions' SCB of 2.50%. SCB does not apply to leverage capital ratios. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | Other information related to operating leases at December 31 is as follows: 2023 2022 Weighted-average remaining lease term (years) 9.6 years 10.0 years Weighted-average discount rate (%) 2.9 % 2.6 % |
Future, undiscounted minimum lease payments on operating leases | Future, undiscounted minimum lease payments on operating leases are as follows: December 31, 2023 (In millions) 2024 $ 92 2025 88 2026 75 2027 63 2028 51 Thereafter 262 Total lease payments 631 Less: Imputed interest 96 Total present value of lease liabilities $ 535 |
Summary of sales-type, direct financing, operating, and leveraged leases | The following tables present a summary of Regions' sales-type, direct financing and leveraged leases for the years ended December 31. Net Interest Income 2023 2022 2021 (In millions) Sales-Type and Direct Financing $ 65 $ 52 $ 59 Leveraged (1) 2 12 14 $ 67 $ 64 $ 73 _________ (1) Leveraged lease income is shown pre-tax and related tax expense is immaterial for all periods presented. Leveraged lease termination gains excluded from amounts presented above were immaterial for all periods presented. As of December 31, 2023 Sales-Type and Direct Financing Leveraged Total (In millions) Lease receivable $ 1,397 $ 123 $ 1,520 Unearned income (211) (47) (258) Guaranteed residual 96 — 96 Unguaranteed residual 188 118 306 Total net investment $ 1,470 $ 194 $ 1,664 As of December 31, 2022 Sales-Type and Direct Financing Leveraged Total (In millions) Lease receivable $ 1,236 $ 140 $ 1,376 Unearned income (189) (62) (251) Guaranteed residual 71 — 71 Unguaranteed residual 173 134 307 Total net investment $ 1,291 $ 212 $ 1,503 |
Minimum future payments due from customers for sales-type, direct financing, and operating leases | The following table presents the minimum future payments due from customers for sales-type and direct financing leases: December 31, 2023 Sales-Type and Direct Financing (In millions) 2024 $ 332 2025 268 2026 228 2027 159 2028 103 Thereafter 307 $ 1,397 |
Stockholders' Equity and Accu_2
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Summary of the non-cumulative perpetual preferred stock | The following table presents a summary of the non-cumulative perpetual preferred stock: 2023 2022 Issuance Date Earliest Redemption Date Dividend Rate (1) Liquidation Amount Liquidation preference per Share Liquidation preference per Depositary Share Ownership Interest per Depositary Share Shares Issued and Outstanding Carrying Amount Carrying Amount (Dollars in millions, except for share and per share amounts) Series B 4/29/2014 9/15/2024 6.375 % (2) $ 500 $ 1,000 $ 25 1/40th 500,000 $ 433 $ 433 Series C 4/30/2019 5/15/2029 5.700 % (3) 500 1,000 25 1/40th 500,000 490 490 Series D 6/5/2020 9/15/2025 5.750 % (4) 350 100,000 1,000 1/100th 3,500 346 346 Series E 5/4/2021 6/15/2026 4.450 % 400 1,000 25 1/40th 400,000 390 390 $ 1,750 1,403,500 $ 1,659 $ 1,659 _________ (1) Dividends on all series of preferred stock, if declared, accrue and are payable quarterly in arrears. (2) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375%, and (ii) for each period beginning on or after September 15, 2024, three-month CME Term SOFR plus 3.536%. (3) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to August 15, 2029, 5.700%, and (ii) for each period beginning on or after August 15, 2029, three-month CME Term SOFR plus 3.148%. (4) |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following tables present the balances and activity in AOCI on a pre-tax and net of tax basis for the years ended December 31 : 2023 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ (4,481) $ 1,138 $ (3,343) Unrealized losses on securities transferred to held to maturity: Beginning balance $ (11) $ 2 $ (9) Reclassification adjustments for amortization on unrealized losses (2) 2 (1) 1 Ending balance $ (9) $ 1 $ (8) Unrealized gains (losses) on securities available for sale: Beginning balance $ (3,433) $ 872 $ (2,561) Unrealized gains (losses) arising during the period 669 (168) 501 Reclassification adjustments for securities (gains) losses realized in net income (3) 5 (1) 4 Change in AOCI from securities available for sale activity in the period 674 (169) 505 Ending balance $ (2,759) $ 703 $ (2,056) Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ (468) $ 119 $ (349) Unrealized gains (losses) on derivatives arising during the period (167) 43 (124) Reclassification adjustments for (gains) losses realized in net income (2) 236 (60) 176 Change in AOCI from derivative activity in the period 69 (17) 52 Ending balance $ (399) $ 102 $ (297) Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (569) $ 145 $ (424) Net actuarial gains (losses) arising during the period (82) 21 (61) Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income (4) 45 (11) 34 Change in AOCI from defined benefit pension plans and other post employment benefits activity in the period (37) 10 (27) Ending balance $ (606) $ 155 $ (451) Total other comprehensive income (loss) 708 (177) 531 Total accumulated other comprehensive income (loss), end of period $ (3,773) $ 961 $ (2,812) 2022 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ 387 $ (98) $ 289 Unrealized losses on securities transferred to held to maturity: Beginning balance $ (14) $ 3 $ (11) Reclassification adjustments for amortization on unrealized (gains) losses (2) 3 (1) 2 Ending balance $ (11) $ 2 $ (9) Unrealized gains (losses) on securities available for sale: Beginning balance $ 218 $ (55) $ 163 Unrealized gains (losses) arising during the period (3,652) 927 (2,725) Reclassification adjustments for securities losses realized in net income (3) 1 — 1 Change in AOCI from securities available for sale activity in the period (3,651) 927 (2,724) Ending balance $ (3,433) $ 872 $ (2,561) Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 830 $ (209) $ 621 Unrealized gains (losses) on derivatives arising during the period (1,158) 292 (866) Reclassification adjustments for (gains) losses realized in net income (2) (140) 36 (104) Change in AOCI from derivative activity in the period (1,298) 328 (970) Ending balance $ (468) $ 119 $ (349) Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (647) $ 163 $ (484) Net actuarial gains (losses) arising during the period 40 (7) 33 Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income (4) 38 (11) 27 Change in AOCI from defined benefit pension plans and other post employment benefits activity in the period 78 (18) 60 Ending balance $ (569) $ 145 $ (424) Total other comprehensive income (loss) (4,868) 1,236 (3,632) Total accumulated other comprehensive income (loss), end of period $ (4,481) $ 1,138 $ (3,343) 2021 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ 1,759 $ (444) $ 1,315 Unrealized losses on securities transferred to held to maturity: Beginning balance $ (21) $ 5 $ (16) Reclassification adjustments for amortization on unrealized (gains) losses (2) 7 (2) 5 Ending balance $ (14) $ 3 $ (11) Unrealized gains (losses) on securities available for sale: Beginning balance $ 1,062 $ (268) $ 794 Unrealized gains (losses) arising during the period (841) 212 (629) Reclassification adjustments for securities (gains) losses realized in net income (3) (3) 1 (2) Change in AOCI from securities available for sale activity in the period (844) 213 (631) Ending balance $ 218 $ (55) $ 163 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 1,610 $ (406) $ 1,204 Unrealized gains (losses) on derivatives arising during the period (354) 89 (265) Reclassification adjustments for (gains) losses realized in net income (2) (426) 108 (318) Change in AOCI from derivative activity in the period (780) 197 (583) Ending balance $ 830 $ (209) $ 621 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (892) $ 225 $ (667) Net actuarial gains (losses) arising during the period 180 (46) 134 Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income (4) 65 (16) 49 Change in AOCI from defined benefit pension plans and other post employment benefits activity in the period 245 (62) 183 Ending balance $ (647) $ 163 $ (484) Total other comprehensive income (loss) (1,372) 346 (1,026) Total accumulated other comprehensive income (loss), end of period $ 387 $ (98) $ 289 ____ (1) The impact of all AOCI activity is shown net of the related tax impact, calculated using an effective tax rate of approximately 25 percent. (2) Reclassification amount is recognized in net interest income in the consolidated statements of income. (3) Reclassification amount is recognized in securities gains (losses), net in the consolidated statements of income. (4) Reclassification amount is recognized in other non-interest expense in the consolidated statements of income. Additionally, these accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note 17 for additional details). |
Earnings (Loss) per Common Sh_2
Earnings (Loss) per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of basic earnings per common share and diluted earnings per common share for the years ended December 31: 2023 2022 2021 (In millions, except per share data) Numerator: Net income Net income $ 2,074 $ 2,245 $ 2,521 Preferred stock dividends and other (1) (98) (99) (121) Net income available to common shareholders $ 1,976 $ 2,146 $ 2,400 Denominator: Weighted-average common shares outstanding—basic $ 936 $ 935 $ 956 Potential common shares 2 7 7 Weighted-average common shares outstanding—diluted $ 938 $ 942 963 Earnings per common share: Basic $ 2.11 $ 2.29 $ 2.51 Diluted $ 2.11 $ 2.28 $ 2.49 ________ (1) |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Summary Of Compensation Costs Recognized In The Consolidated Statements Of Operations | The following table summarizes the elements of compensation cost recognized in the consolidated statements of income for the years ended December 31: 2023 2022 2021 (In millions) Compensation cost of share-based compensation awards: Restricted and performance stock awards $ 61 $ 60 $ 57 Tax benefits related to share-based compensation cost (16) (15) (14) Compensation cost of share-based compensation awards, net of tax $ 45 $ 45 $ 43 |
Summary Of Activity Related to Restricted Stock Awards And Performance Stock Awards | Activity related to restricted stock awards and performance stock awards for 2023, 2022 and 2021 is summarized as follows: Number of Weighted-Average Non-vested at December 31, 2020 11,682,160 $ 12.14 Granted 2,984,065 21.18 Vested (3,227,513) 15.91 Forfeited (231,818) 13.24 Non-vested at December 31, 2021 11,206,894 $ 13.39 Granted 2,831,304 21.39 Vested (3,543,152) 14.24 Forfeited (331,283) 14.73 Non-vested at December 31, 2022 10,163,763 $ 15.23 Granted 3,943,474 17.54 Vested (5,844,477) 10.25 Forfeited (262,719) 18.08 Non-vested at December 31, 2023 8,000,041 $ 19.90 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |
Schedule of Defined Benefit Plans Disclosures | The following table sets forth the plans’ change in benefit obligation, plan assets and funded status, using a December 31 measurement date, and amounts recognized in the consolidated balance sheets at December 31: Qualified Plans Non-qualified Plans Total 2023 2022 2023 2022 2023 2022 (In millions) Change in benefit obligation Projected benefit obligation, beginning of year $ 1,623 $ 2,281 $ 127 $ 156 $ 1,750 $ 2,437 Service cost 21 34 1 2 22 36 Interest cost 86 56 6 3 92 59 Actuarial (gains) losses 49 (568) 14 (17) 63 (585) Benefit payments (132) (108) (8) (8) (140) (116) Administrative expenses (3) (3) — — (3) (3) Plan settlements — (69) (58) (9) (58) (78) Projected benefit obligation, end of year $ 1,644 $ 1,623 $ 82 $ 127 $ 1,726 $ 1,750 Change in plan assets Fair value of plan assets, beginning of year $ 1,970 $ 2,554 $ — $ — $ 1,970 $ 2,554 Actual return on plan assets 101 (404) — — 101 (404) Company contributions — — 66 17 66 17 Benefit payments (132) (108) (8) (8) (140) (116) Administrative expenses (3) (3) — — (3) (3) Plan settlements — (69) (58) (9) (58) (78) Fair value of plan assets, end of year $ 1,936 $ 1,970 $ — $ — $ 1,936 $ 1,970 Funded status and accrued benefit (cost) at measurement date $ 292 $ 347 $ (82) $ (127) $ 210 $ 220 Amount recognized in the Consolidated Balance Sheets: Other assets $ 292 $ 347 $ — $ — $ 292 $ 347 Other liabilities — — (82) (127) (82) (127) $ 292 $ 347 $ (82) $ (127) $ 210 $ 220 Pre-tax amounts recognized in Accumulated Other Comprehensive (Income) Loss: Net actuarial loss $ 580 $ 537 $ 29 $ 36 $ 609 $ 573 |
Components Of Net Periodic Benefit Costs | Net periodic pension cost (benefit) included the following components for the years ended December 31: Qualified Plans Non-qualified Plans Total 2023 2022 2021 2023 2022 2021 2023 2022 2021 (In millions) Service cost $ 21 $ 34 $ 38 $ 1 $ 2 $ 3 $ 22 $ 36 $ 41 Interest cost 86 56 49 6 3 2 92 59 51 Expected return on plan assets (120) (139) (142) — — — (120) (139) (142) Amortization of actuarial loss 24 25 46 4 7 8 28 32 54 Settlement charge — 4 — 17 2 11 17 6 11 Net periodic pension (benefit) cost $ 11 $ (20) $ (9) $ 28 $ 14 $ 24 $ 39 $ (6) $ 15 |
Schedule of Assumptions Used | The assumptions used to determine benefit obligations at December 31 are as follows: Qualified Plans Non-qualified Plans 2023 2022 2023 2022 Discount rate 5.15 % 5.42 % 5.08 % 5.38 % Rate of annual compensation increase 4.00 % 4.00 % 3.00 % 3.00 % The weighted-average assumptions used to determine net periodic pension (benefit) cost for the years ended December 31 are as follows: Qualified Plans Non-qualified Plans 2023 2022 2021 2023 2022 2021 Discount rate 5.42 % 2.85 % 2.48 % 5.42 % 2.72 % 2.20 % Expected long-term rate of return on plan assets 6.37 % 5.62 % 5.87 % N/A N/A N/A Rate of annual compensation increase 4.00 % 4.00 % 4.00 % 3.00 % 3.00 % 3.00 % |
Presentation Of The Fair Value Of Regions' Qualified Defined-Benefit Pension Plans' | The following table presents the fair value of Regions’ qualified pension plans’ financial assets as of December 31: 2023 2022 Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value (In millions) Cash and cash equivalents $ 74 $ — $ — $ 74 $ 34 $ — $ — $ 34 Fixed income securities: U.S. Treasury securities $ 359 $ — $ — $ 359 $ 280 $ — $ — $ 280 Federal agency securities — 7 — 7 — 15 — 15 Corporate bonds and other debt — 603 — 603 — 354 — 354 Total fixed income securities $ 359 $ 610 $ — $ 969 $ 280 $ 369 $ — $ 649 Equity securities: Domestic $ 132 $ — $ — $ 132 $ 135 $ — $ — $ 135 International — — — — 130 — — 130 Total equity securities $ 132 $ — $ — $ 132 $ 265 $ — $ — $ 265 International mutual funds $ 103 $ — $ — $ 103 $ 125 $ — $ — $ 125 Total assets in the fair value hierarchy $ 668 $ 610 $ — $ 1,278 $ 704 $ 369 $ — $ 1,073 Collective trust funds: Fixed income fund (1) $ 111 $ 340 Common stock fund (1) 119 168 International fund (1) 117 40 Total collective trust funds $ 347 $ 548 Real estate funds measured at NAV (1) $ 144 $ 177 Private equity funds measured at NAV (1) $ 167 $ 172 $ 1,936 $ 1,970 __________ (1) |
Information About The Expected Cash Flows For The Qualified Pension Plan | Information about the expected cash flows for the qualified and non-qualified plans is as follows: Qualified Plans Non-qualified Plans (In millions) Expected Employer Contributions: 2024 $ — $ 9 Expected Benefit Payments: 2024 $ 122 $ 9 2025 124 9 2026 125 10 2027 127 9 2028 126 9 Next five years 602 35 |
Other Non-Interest Income and_2
Other Non-Interest Income and Expense (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Other Income and Expenses [Abstract] | |
Schedule Of Other Non-Interest Income and Expense | The following is a detail of other non-interest income for the years ended December 31: 2023 2022 2021 (In millions) Investment services fee income $ 138 $ 122 $ 104 Commercial credit fee income 105 96 91 Bank-owned life insurance 78 62 82 Market value adjustments on employee benefit assets 15 (45) 20 Insurance proceeds (1) — 50 — Gain on equity investment (2) — — 3 Other miscellaneous income 185 199 223 $ 521 $ 484 $ 523 ______ (1) In 2022, the Company settled a previously disclosed matter with the CFPB and received an insurance reimbursement related to the settlement. (2) This amount represents a gain on the sale of an equity investment that was sold in the first quarter of 2021. The following is a detail of other non-interest expense for the years ended December 31: 2023 2022 2021 (In millions) Outside services $ 163 $ 157 $ 156 Marketing 110 102 106 Professional, legal and regulatory expenses 85 263 98 Credit/checkcard expenses 60 66 62 FDIC insurance assessments 228 61 45 Operational losses 212 56 46 Branch consolidation, property and equipment charges 7 3 5 Visa class B shares expense 28 24 22 Early extinguishment of debt (4) — 20 Other miscellaneous expenses 410 326 314 $ 1,299 $ 1,058 $ 874 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Taxes [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense for the years ended December 31 were as follows: 2023 2022 2021 (In millions) Current income tax expense: Federal $ 417 $ 493 $ 456 State 84 116 73 Total current expense $ 501 $ 609 $ 529 Deferred income tax expense (benefit): Federal $ 25 $ 26 $ 132 State 7 (4) 33 Total deferred expense $ 32 $ 22 $ 165 Total income tax expense $ 533 $ 631 $ 694 |
Reconciliation Of Continuing Operations Effective Income Tax Rate Table | Income taxes for financial reporting purposes differs from the amount computed by applying the statutory federal income tax rate of 21 percent as shown in the following table: 2023 2022 2021 (Dollars in millions) Tax on income computed at statutory federal income tax rate $ 547 $ 604 $ 675 Increase (decrease) in taxes resulting from: State income tax, net of federal tax effect 72 88 83 Non-deductible expenses 33 34 18 Tax-exempt interest (38) (33) (30) Affordable housing credits, net of amortization (42) (32) (25) Bank-owned life insurance (19) (16) (20) Other, net (20) (14) (7) Income tax expense (1) $ 533 $ 631 $ 694 Effective tax rate 20.5 % 22.0 % 21.6 % ___ _______ |
Summary Of Significant Components Of Deferred Tax Assets And Liabilities | Significant components of the Company’s net deferred tax asset at December 31 are listed below: 2023 2022 (In millions) Deferred tax assets: Unrealized losses included in shareholders' equity $ 961 $ 1,138 Allowance for credit losses 430 401 Right of use liability 129 136 Accrued expenses 87 61 Other 20 47 Federal and state net operating losses, net of federal tax effect 31 40 Total deferred tax assets 1,658 1,823 Less: valuation allowance (21) (21) Total deferred tax assets less valuation allowance 1,637 1,802 Deferred tax liabilities: Lease financing 439 403 Right of use asset 121 128 Mortgage servicing rights 95 122 Goodwill and intangibles 112 103 Fixed assets 30 52 Employee benefits and deferred compensation 37 29 Other 62 22 Total deferred tax liabilities 896 859 Net deferred tax asset $ 741 $ 943 |
Summary Of Details Of Tax Carryforwards Table | The following table provides details of the Company’s net operating loss carryforwards at December 31, 2023, including the expiration dates and related valuation allowance: Expiration Dates Deferred Tax Asset Balance Valuation Net Deferred Tax (In millions) Net operating losses-federal None 9 — 9 Net operating losses-states 2024-2028 13 13 — Net operating losses-states 2029-2035 3 2 1 Net operating losses-states 2036-2043 3 2 1 Net operating losses-states None 3 2 1 $ 31 $ 19 $ 12 |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of UTB is as follows: 2023 2022 2021 (In millions) Balance at beginning of year $ 8 $ 9 $ 12 Additions based on tax positions taken in a prior period 3 — — Settlements — — (2) Expiration of statute of limitations — (1) (1) Balance at end of year $ 11 $ 8 $ 9 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule Of Derivative Instruments Notional And Fair Values | The following tables present the notional amount and estimated fair value of derivative instruments. 2023 2022 Notional Amount (1) Estimated Fair Value Notional Estimated Fair Value Gain (1)(2) Loss (1)(2) Gain (2) Loss (2) (In millions) Derivatives in fair value hedging relationships: Interest rate swaps $ 2,975 $ 1 $ 121 $ 1,423 $ 1 $ 158 Derivatives in cash flow hedging relationships: Interest rate swaps 29,550 43 580 30,600 19 668 Interest rate options 2,000 21 13 — — — Total derivatives in cash flow hedging relationships 31,550 64 593 30,600 19 668 Total derivatives designated as hedging instruments $ 34,525 $ 65 $ 714 $ 32,023 $ 20 $ 826 Derivatives not designated as hedging instruments: Interest rate swaps $ 99,892 $ 1,769 $ 1,718 $ 94,220 $ 2,315 $ 2,335 Interest rate options 13,497 66 57 12,506 94 85 Interest rate futures and forward commitments 655 7 12 985 8 5 Other contracts 12,007 198 190 12,173 172 127 Total derivatives not designated as hedging instruments $ 126,051 $ 2,040 $ 1,977 $ 119,884 $ 2,589 $ 2,552 Total derivatives $ 160,576 $ 2,105 $ 2,691 $ 151,907 $ 2,609 $ 3,378 Total gross derivative instruments, before netting $ 2,105 $ 2,691 $ 2,609 $ 3,378 Less: Netting adjustments (3) 2,029 1,560 2,504 1,925 Total gross derivative instruments, after netting $ 76 $ 1,131 $ 105 $ 1,453 _________ (1) In the second quarter of 2023, the Company entered into additional trades to transition remaining derivative exposure from LIBOR to SOFR. As a part of this transition, the Company applied certain optional expedients and exceptions in previously adopted accounting relief for hedges. (2) Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets. Includes accrued interest as applicable. (3) |
Schedule Of Effect Of Hedging Derivative Instruments On Statements Of Operations | The following tables present the effect of hedging derivative instruments on the consolidated statements of income and the total amounts for the respective line items affected: 2023 Interest Income Interest Income Interest Expense Debt securities Loans, including fees Long-term borrowings (In millions) Total income (expense) presented in the consolidated statements of income $ 749 $ 5,733 $ (226) Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ (1) $ — $ (64) Recognized on derivatives (6) — 46 Recognized on hedged items 6 — (46) Income (expense) recognized on fair value hedges $ (1) $ — $ (64) Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ — $ (236) $ — Income (expense) recognized on cash flow hedges $ — $ (236) $ — 2022 Interest Income Interest Income Interest Expense Debt securities Loans, including fees Long-term borrowings (In millions) Total income (expense) presented in the consolidated statements of income $ 688 $ 4,088 $ (119) Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ 41 $ — $ (16) Recognized on derivatives — — (124) Recognized on hedged items — — 124 Income (expense) recognized on fair value hedges $ 41 $ — $ (16) Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ — $ 140 $ — Income (expense) recognized on cash flow hedges $ — $ 140 $ — 2021 Interest Income Interest Expense Loans, including fees Long-term borrowings (In millions) Total income (expense) presented in the consolidated statements of income $ 3,452 $ (103) Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 19 Recognized on derivatives — (51) Recognized on hedged items — 51 Income (expense) recognized on fair value hedges $ — $ 19 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 426 $ — Income (expense) recognized on cash flow hedges $ 426 $ — ____ (1) See Note 14 for gain or (loss) recognized for cash flow hedges in AOCI. (2) Pre-tax |
Schedule of Fair Value Hedging Basis Adjustments | The following tables present the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships. 2023 2022 Hedged Items Currently Designated Hedged Items Currently Designated Carrying Amount of Assets/(Liabilities) Hedge Accounting Basis Adjustment Carrying Amount of Assets/(Liabilities) Hedge Accounting Basis Adjustment (In millions) (In millions) Debt securities available for sale (1)(2) $ 1,653 $ 5 $ 23 $ — Long-term borrowings (1,286) 112 (1,239) 158 Time deposits (252) — — — _____ (1) As of December 31, 2023, the Company designated interest rate swaps as fair value hedges of debt securities available for sale under the portfolio layer method under which the Company designated $1.0 billion as the hedged amount from a closed portfolio of prepayable financial assets with a carrying amount of $1.3 billion. (2) Carrying amount represents amortized cost. |
Schedule Of Gains (Losses) Recognized In Income Related To Derivatives Not Designated As Hedging Instruments | The following table presents the location and amount of gain or (loss) recognized in income on derivatives not designated as hedging instruments in the consolidated statements of income for the periods presented below: Derivatives Not Designated as Hedging Instruments 2023 2022 2021 (In millions) Capital markets income: Interest rate swaps $ (17) $ 108 $ 46 Interest rate options 42 23 28 Interest rate futures and forward commitments 13 10 15 Other contracts 11 11 4 Total capital markets income 49 152 93 Mortgage income: Interest rate swaps (14) (118) (45) Interest rate options 1 (14) (32) Interest rate futures and forward commitments (10) (4) 13 Total mortgage income (23) (136) 64 $ 26 $ 16 $ 29 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following table presents assets and liabilities measured at estimated fair value on a recurring basis as of December 31: 2023 2022 Level 1 Level 2 Level 3 (1) Total Level 1 Level 2 Level 3 (1) Total (In millions) Recurring fair value measurements Debt securities available for sale: U.S. Treasury securities $ 1,223 $ — $ — $ 1,223 $ 1,187 $ — $ — $ 1,187 Federal agency securities — 1,043 — 1,043 — 836 — 836 Obligations of states and political subdivisions — 2 — 2 — 2 — 2 Mortgage-backed securities: Residential agency — 17,372 — 17,372 — 16,954 — 16,954 Residential non-agency — — — — — — 1 1 Commercial agency — 7,307 — 7,307 — 7,613 — 7,613 Commercial non-agency — 83 — 83 — 186 — 186 Corporate and other debt securities — 1,073 1 1,074 — 1,153 1 1,154 Total debt securities available for sale $ 1,223 $ 26,880 $ 1 $ 28,104 $ 1,187 $ 26,744 $ 2 $ 27,933 Loans held for sale $ — $ 201 $ — $ 201 $ — $ 177 $ 19 $ 196 Marketable equity securities in other earning assets $ 813 $ — $ — $ 813 $ 529 $ — $ — $ 529 Residential mortgage servicing rights $ — $ — $ 906 $ 906 $ — $ — $ 812 $ 812 Derivative assets (2) : Interest rate swaps $ — $ 1,813 $ — $ 1,813 $ — $ 2,335 $ — $ 2,335 Interest rate options — 83 4 87 — 91 3 94 Interest rate futures and forward commitments — 7 — 7 — 8 — 8 Other contracts — 198 — 198 3 169 — 172 Total derivative assets $ — $ 2,101 $ 4 $ 2,105 $ 3 $ 2,603 $ 3 $ 2,609 Derivative liabilities (2) : Interest rate swaps $ — $ 2,419 $ — $ 2,419 $ — $ 3,161 $ — $ 3,161 Interest rate options — 70 — 70 — 85 — 85 Interest rate futures and forward commitments — 12 — 12 — 5 — 5 Other contracts — 189 1 190 2 124 1 127 Total derivative liabilities $ — $ 2,690 $ 1 $ 2,691 $ 2 $ 3,375 $ 1 $ 3,378 _________ (1) All following disclosures related to Level 3 recurring assets do not include those deemed to be immaterial at December 31, 2023 and 2022. (2) As permitted under U.S. GAAP, variation margin collateral payments made or received for derivatives that are centrally cleared are legally characterized as settled. As such, these derivative assets and derivative liabilities and the related variation margin collateral are presented on a net basis on the balance sheet. |
Rollforward For Assets And Liabilities Measured At Fair Value On A Recurring Basis With Level 3 Significant Unobservable Inputs | See Note 6 for a reconciliation of beginning and ending balances of residential MSRs for the years ended December 31, 2023 and 2022. |
Summary Of Quantitative Information About Level 3 Measurements | The following tables present detailed information regarding material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of December 31, 2023 and 2022. The tables include the valuation techniques and the significant unobservable inputs utilized. The range of each significant unobservable input as well as the weighted-average within the range utilized at December 31, 2023 and 2022 2021. are included. Following the tables are descriptions of the valuation techniques and the sensitivity of the techniques to changes in the significant unobservable inputs. December 31, 2023 Level 3 Valuation Unobservable Quantitative Range of (Dollars in millions) Recurring fair value measurements: Residential mortgage servicing rights (1) $906 Discounted cash flow Weighted-average CPR (%) 5.6% - 21.5% (8.2%) OAS (%) 4.5% - 8.2% (4.8%) December 31, 2022 Level 3 Valuation Unobservable Quantitative Range of (Dollars in millions) Recurring fair value measurements: Residential mortgage servicing rights (1) $812 Discounted cash flow Weighted-average CPR (%) 6.1% - 15.1% (7.4%) OAS (%) 4.8% -8.2% (5.1%) _______ (1) See Note 6 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. |
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of December 31, 2023 are as follows: 2023 Carrying Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 6,801 $ 6,801 $ 6,801 $ — $ — Debt securities held to maturity 754 716 — 716 — Debt securities available for sale 28,104 28,104 1,223 26,880 1 Loans held for sale 400 400 — 397 3 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 95,141 91,352 — — 91,352 Other earning assets 1,417 1,417 813 604 — Derivative assets 2,105 2,105 — 2,101 4 Financial liabilities: Derivative liabilities 2,691 2,691 — 2,690 1 Deposits with no stated maturity (4) 112,816 112,816 — 112,816 — Time deposits (4) 14,972 14,905 — 14,905 — Long-term borrowings 2,330 2,319 — 2,318 1 Loan commitments and letters of credit 156 156 — — 156 _________ (1) Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred. (2) The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. The fair value discount on the loan portfolio's net carrying amount at December 31, 2023 was $3.8 billion or 4.0 percent. (3) Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.7 billion at December 31, 2023. (4) The fair value of non-interest-bearing demand accounts, interest-bearing checking accounts, savings accounts, and money market accounts is the amount payable on demand at the reporting date (i.e., the carrying amount) as these instruments have an indeterminate maturity date. Fair values for time deposits are estimated by using discounted cash flow analyses, based on market spreads to benchmark rates. The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company's financial instruments as of December 31, 2022 are as follows: 2022 Carrying Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 11,227 $ 11,227 $ 11,227 $ — $ — Debt securities held to maturity 801 751 — 751 — Debt securities available for sale 27,933 27,933 1,187 26,744 2 Loans held for sale 354 354 — 335 19 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 94,044 89,540 — — 89,540 Other earning assets 1,308 1,308 529 779 — Derivative assets 2,609 2,609 3 2,603 3 Financial liabilities: Derivative liabilities 3,378 3,378 2 3,375 1 Deposits with no stated maturity (4) 125,971 125,971 — 125,971 — Time deposits (4) 5,772 5,697 — 5,697 — Long-term borrowings 2,284 2,376 — 2,375 1 Loan commitments and letters of credit 153 153 — — 153 _________ (1) Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred. (2) The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. The fair value discount on the loan portfolio's net carrying amount at December 31, 2022 was $4.5 billion or 4.8 percent. (3) Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.5 billion at December 31, 2022. (4) The fair value of non-interest-bearing demand accounts, interest-bearing checking accounts, savings accounts, and money market accounts is the amount payable on demand at the reporting date (i.e., the carrying amount) as these instruments have an indeterminate maturity date. Fair values for time deposits are estimated by using discounted cash flow analyses, based on market spreads to benchmark rates. |
Business Segment Information (T
Business Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Segment Reporting [Abstract] | |
Schedule Of Financial Information By Reportable Segment | he following tables present financial information for each reportable segment for the year ended December 31: 2023 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 2,003 $ 3,132 $ 185 $ — $ 5,320 Provision for (benefit from) credit losses 343 279 8 (77) 553 Non-interest income 712 1,044 457 43 2,256 Non-interest expense 1,223 2,574 427 192 4,416 Income (loss) before income taxes 1,149 1,323 207 (72) 2,607 Income tax expense (benefit) 287 330 52 (136) 533 Net income $ 862 $ 993 $ 155 $ 64 $ 2,074 Average assets $ 69,520 $ 37,762 $ 2,044 $ 43,691 $ 153,017 2022 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 1,961 $ 2,641 $ 184 $ — $ 4,786 Provision for (benefit from) credit losses 287 280 9 (305) 271 Non-interest income 803 1,165 426 35 2,429 Non-interest expense 1,184 2,296 404 184 4,068 Income before income taxes 1,293 1,230 197 156 2,876 Income tax expense (benefit) 323 308 50 (50) 631 Net income $ 970 $ 922 $ 147 $ 206 $ 2,245 Average assets $ 64,532 $ 36,623 $ 2,116 $ 56,121 $ 159,392 2021 Corporate Bank Consumer Wealth Other Consolidated (In millions) Net interest income $ 1,759 $ 2,016 $ 139 $ — $ 3,914 Provision for (benefit from) credit losses 295 254 10 (1,083) (524) Non-interest income 752 1,266 390 116 2,524 Non-interest expense 1,090 2,174 387 96 3,747 Income before income taxes 1,126 854 132 1,103 3,215 Income tax expense 282 213 33 166 694 Net income $ 844 $ 641 $ 99 $ 937 $ 2,521 Average assets $ 59,132 $ 34,309 $ 2,046 $ 58,782 $ 154,269 |
Commitments, Contingencies an_2
Commitments, Contingencies and Guarantees (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Credit Risk Of Off- Balance Sheet Financial Instruments By Contractual Amounts | Credit risk associated with these instruments as of December 31 is represented by the contractual amounts indicated in the following table: 2023 2022 (In millions) Unused commitments to extend credit $ 63,631 $ 65,460 Standby letters of credit 1,997 1,962 Commercial letters of credit 78 75 Liabilities associated with standby letters of credit 32 35 Assets associated with standby letters of credit 34 37 Reserve for unfunded credit commitments 124 118 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Revenue Recognition [Abstract] | |
Disaggregation of Revenue | The following tables present total non-interest income disaggregated by major product category for each reportable segment for the period indicated (refer to Note 1 for descriptions of the accounting and reporting policies related to revenue recognition): Year Ended December 31, 2023 Corporate Bank Consumer Wealth Other Segment Revenue Other (1) Total (In millions) Service charges on deposit accounts $ 193 $ 396 $ 3 $ — $ — $ 592 Card and ATM fees 45 446 1 1 11 504 Capital markets income 92 — — 1 129 222 Investment management and trust fee income — — 313 — — 313 Mortgage income — — — — 109 109 Investment services fee income — — 138 — — 138 Commercial credit fee income — — — — 105 105 Bank-owned life insurance — — — — 78 78 Securities gains (losses), net — — — — (5) (5) Market value adjustments on employee benefit assets - other — — — — 15 15 Other miscellaneous income 40 51 2 — 92 185 $ 370 $ 893 $ 457 $ 2 $ 534 $ 2,256 Year Ended December 31, 2022 Corporate Bank Consumer Wealth Other Segment Revenue Other (1) Total (In millions) Service charges on deposit accounts $ 177 $ 458 $ 3 $ 2 $ 1 $ 641 Card and ATM fees 45 457 — — 11 513 Capital markets income 108 — — — 231 339 Investment management and trust fee income — — 297 — — 297 Mortgage income — — — — 156 156 Investment services fee income — — 122 — — 122 Commercial credit fee income — — — — 96 96 Bank-owned life insurance — — — — 62 62 Insurance proceeds (2) — — — — 50 50 Securities gains (losses), net — — — — (1) (1) Market value adjustments on employee benefit assets - other — — — — (45) (45) Other miscellaneous income 43 51 3 — 102 199 $ 373 $ 966 $ 425 $ 2 $ 663 $ 2,429 Year Ended December 31, 2021 Corporate Bank Consumer Wealth Other Segment Revenue Other (1) Total (In millions) Service charges on deposit accounts $ 160 $ 480 $ 3 $ — $ 5 $ 648 Card and ATM fees 41 448 — (1) 11 499 Capital markets income 149 — — — 182 331 Investment management and trust fee income — — 278 — — 278 Mortgage income — — — — 242 242 Investment services fee income — — 104 — — 104 Commercial credit fee income — — — — 91 91 Bank-owned life insurance — — — — 82 82 Securities gains (losses), net — — — — 3 3 Market value adjustments on employee benefit assets - other — — — — 20 20 Gain on equity investment — — — — 3 3 Other miscellaneous income 39 55 4 3 122 223 $ 389 $ 983 $ 389 $ 2 $ 761 $ 2,524 _________ (1) This revenue is not impacted by the accounting guidance adopted in 2018 and continues to be recognized when earned in accordance with the Company's prior revenue recognition policy. (2) In the third quarter of 2022, the Company settled a previously disclosed matter with the CFPB. The Company received an insurance reimbursement related to the settlement in the fourth quarter of 2022. |
Parent Company Only Financial_2
Parent Company Only Financial Statements (Tables) - Parent Company [Member] | 12 Months Ended |
Dec. 31, 2023 | |
Schedule of Condensed Balance Sheet | Balance Sheets December 31 2023 2022 (In millions) Assets Interest-bearing deposits in other banks $ 1,869 $ 1,594 Debt securities available for sale 20 21 Premises and equipment, net 47 28 Investments in subsidiaries: Banks 16,882 15,676 Non-banks 425 385 17,307 16,061 Other assets 291 275 Total assets $ 19,534 $ 17,979 Liabilities and Shareholders’ Equity Long-term borrowings $ 1,832 $ 1,786 Other liabilities 273 246 Total liabilities 2,105 2,032 Shareholders’ equity: Preferred stock 1,659 1,659 Common stock 10 10 Additional paid-in capital 11,757 11,988 Retained earnings 8,186 7,004 Treasury stock, at cost (1,371) (1,371) Accumulated other comprehensive income, net (2,812) (3,343) Total shareholders’ equity 17,429 15,947 Total liabilities and shareholders’ equity $ 19,534 $ 17,979 |
Schedule of Condensed Income Statement | Statements of Income Year Ended December 31 2023 2022 2021 (In millions) Income: Dividends received from subsidiaries $ 1,609 $ 1,351 $ 2,250 Interest from subsidiaries 1 4 8 Other 7 (3) 22 1,617 1,352 2,280 Expenses: Salaries and employee benefits 65 64 61 Interest expense 134 86 68 Equipment and software expense (2) 4 4 Other 70 62 96 267 216 229 Income before income taxes and equity in undistributed earnings of subsidiaries 1,350 1,136 2,051 Income tax benefit (43) (36) (43) Income before equity in undistributed earnings of subsidiaries and preferred stock dividends 1,393 1,172 2,094 Equity in undistributed earnings of subsidiaries: Banks 644 1,066 372 Non-banks 37 7 55 681 1,073 427 Net income 2,074 2,245 2,521 Preferred stock dividends (98) (99) (121) Net income available to common shareholders $ 1,976 $ 2,146 $ 2,400 |
Schedule of Condensed Cash Flow Statement | Statements of Cash Flows Year Ended December 31 2023 2022 2021 (In millions) Operating activities: Net income $ 2,074 $ 2,245 $ 2,521 Adjustments to reconcile net cash from operating activities: Equity in undistributed earnings of subsidiaries (681) (1,073) (427) Provision for (benefit from) deferred income taxes (4) (3) (21) Depreciation, amortization and accretion, net 2 2 3 Loss on sale of assets (6) — — Loss (gain) on early extinguishment of debt — — 20 Net change in operating assets and liabilities: Other assets (11) 12 61 Other liabilities (9) (27) 1 Other 74 (89) (51) Net cash from operating activities 1,439 1,067 2,107 Investing activities: (Investment in) / repayment of investment in subsidiaries (8) (23) (21) Proceeds from sales and maturities of debt securities available for sale 13 8 5 Purchases of debt securities available for sale (11) (9) (3) Other, net (21) — — Net cash from investing activities (27) (24) (19) Financing activities: Proceeds from long-term borrowings — — 646 Payments on long-term borrowings — — (1,424) Cash dividends on common stock (787) (663) (608) Cash dividends on preferred stock (98) (99) (108) Net proceeds from issuance of preferred stock — — 390 Payment for redemption of preferred stock — — (500) Repurchases of common stock (252) (230) (467) Net cash from financing activities (1,137) (992) (2,071) Net change in cash and cash equivalents 275 51 17 Cash and cash equivalents at beginning of year 1,594 1,543 1,526 Cash and cash equivalents at end of year $ 1,869 $ 1,594 $ 1,543 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Supplemental Cash Flows) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | |||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 1,441 | $ 303 | $ 185 |
Income Taxes Paid, Net | 376 | 336 | 367 |
Real Estate Owned, Transfer to Real Estate Owned | 21 | 21 | 14 |
Transfer of Portfolio Loans and Leases to Held-for-sale | 15 | 22 | 240 |
Transfer of Loans Held-for-sale to Portfolio Loans | 18 | 24 | 277 |
Properties Transferred To Held For Sale | $ 79 | $ 6 | $ 38 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Accounting Policies [Abstract] | ||
Gross equity method investments | $ 192,000,000 | $ 153,000,000 |
Equity Securities without Readily Determinable Fair Value, Amount | 70,000,000 | 70,000,000 |
Other Investments | 262,000,000 | $ 223,000,000 |
Financing Receivable, Modifications [Line Items] | ||
Commercial And Investor Real Estate Loans Subject To Charge Offs Maximum | $ 250,000 | |
Days For Commercial and Investor Real Estate Loans To Be Evaluated As Potential Charge Off | 180 days | |
Days for certain equipment finance loans to be evaluated as potential charge off | 120 days | |
Days For Consumer First Lien Postion Loans To Be Evaluated As Potential Charge Off | 180 days | |
Days For Home Equity Loans In Second Lien Position To Be Evaluated As Potential Charge Off | 120 days | |
Days For Consumer Close-Ended Loans To Be Evaluated As Potential Charge Off | 120 days | |
Days for Consumer Loans in an Open-Ended Position to be Evaluated for Potential Charge Off | 180 days | |
Days for Credit Cards to be Evaluated for Potential Charge Off | 180 days | |
Minimum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 1 year | |
Maximum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 20 years | |
Leasehold improvements | Minimum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Property, Plant and Equipment, Useful Life | 7 years | |
Leasehold improvements | Maximum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Property, Plant and Equipment, Useful Life | 40 years | |
Furniture and equipment | Minimum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Property, Plant and Equipment, Useful Life | 3 years | |
Furniture and equipment | Maximum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years |
Variable Interest Entities Affo
Variable Interest Entities Affordable Housing Tax Credit Investments (Details) - Variable Interest Entity, Not Primary Beneficiary [Member] - Low Income Housing Tax Credit Investments [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Variable Interest Entity [Line Items] | |||
Affordable housing tax credit investments included in other assets | $ 1,415 | $ 1,238 | |
Unfunded affordable housing tax credit commitments included in other liabilities | 592 | 511 | |
Loans and letters of credit commitments | 730 | 598 | |
Funded portion of loans and letters of credit commitments | 395 | 282 | |
Tax credits and other tax benefits recognized | 207 | 180 | $ 165 |
Tax credit amortization expense included in provision for income taxes | $ 166 | $ 149 | $ 139 |
Debt Securities (Schedule Of Am
Debt Securities (Schedule Of Amortized Cost, Gross Unrealized Gains And Losses, And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 30,864 | $ 31,367 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 62 | 1 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (2,822) | (3,435) |
Available-for-sale debt securities, net carrying value | 28,104 | 27,933 |
Debt securities available for sale | 28,104 | 27,933 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities held to maturity, amortized cost | 763 | 812 |
Held To Maturity Debt Securities Gross Unrealized Gains | 0 | 0 |
Held To Maturity Debt Securities Gross Unrealized Losses | (9) | (11) |
Debt Securities held to maturity | 754 | 801 |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | (38) | (50) |
Debt Securities held to maturity, estimated fair value | 716 | 751 |
US Treasury Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,322 | 1,310 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (99) | (123) |
Available-for-sale debt securities, net carrying value | 1,223 | 1,187 |
Debt securities available for sale | 1,223 | 1,187 |
Federal agency securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,085 | 898 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 4 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (46) | (62) |
Available-for-sale debt securities, net carrying value | 1,043 | 836 |
Debt securities available for sale | 1,043 | 836 |
US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 2 | 2 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Available-for-sale debt securities, net carrying value | 2 | 2 |
Debt securities available for sale | 2 | 2 |
Residential Agency [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 19,450 | 19,477 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 52 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (2,130) | (2,523) |
Available-for-sale debt securities, net carrying value | 17,372 | 16,954 |
Debt securities available for sale | 17,372 | 16,954 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities held to maturity, amortized cost | 247 | 289 |
Held To Maturity Debt Securities Gross Unrealized Gains | 0 | 0 |
Held To Maturity Debt Securities Gross Unrealized Losses | (8) | (10) |
Debt Securities held to maturity | 239 | 279 |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | (16) | (21) |
Debt Securities held to maturity, estimated fair value | 223 | 258 |
Residential Non-Agency [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | |
Available-for-sale debt securities, net carrying value | 1 | |
Debt securities available for sale | 1 | |
Commercial Agency [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 7,807 | 8,262 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (502) | (649) |
Available-for-sale debt securities, net carrying value | 7,307 | 7,613 |
Debt securities available for sale | 7,307 | 7,613 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities held to maturity, amortized cost | 516 | 523 |
Held To Maturity Debt Securities Gross Unrealized Gains | 0 | 0 |
Held To Maturity Debt Securities Gross Unrealized Losses | (1) | (1) |
Debt Securities held to maturity | 515 | 522 |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | (22) | (29) |
Debt Securities held to maturity, estimated fair value | 493 | 493 |
Commercial Non Agency [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 93 | 198 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (10) | (12) |
Available-for-sale debt securities, net carrying value | 83 | 186 |
Debt securities available for sale | 83 | 186 |
Corporate and other debt securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,105 | 1,219 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 4 | 1 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (35) | (66) |
Available-for-sale debt securities, net carrying value | 1,074 | 1,154 |
Debt securities available for sale | $ 1,074 | $ 1,154 |
Debt Securities (Schedule Of Co
Debt Securities (Schedule Of Cost And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity By Contractual Maturity) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Debt Securities held to maturity, amortized cost | $ 763 | $ 812 |
Debt Securities held to maturity, estimated fair value | 716 | 751 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | 369 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 363 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 2,600 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 2,455 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 390 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 384 | |
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost | 155 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 140 | |
Debt Securities, Available-for-sale, Amortized Cost | 30,864 | 31,367 |
Debt securities available for sale | 28,104 | 27,933 |
Residential Agency [Member] | ||
Debt Securities held to maturity, amortized cost | 247 | 289 |
Debt Securities held to maturity, estimated fair value | 223 | 258 |
Debt Securities, Available-for-sale, Amortized Cost | 19,450 | 19,477 |
Debt securities available for sale | 17,372 | 16,954 |
Commercial Agency [Member] | ||
Debt Securities held to maturity, amortized cost | 516 | 523 |
Debt Securities held to maturity, estimated fair value | 493 | 493 |
Debt Securities, Available-for-sale, Amortized Cost | 7,807 | 8,262 |
Debt securities available for sale | 7,307 | 7,613 |
Commercial Non Agency [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost | 93 | 198 |
Debt securities available for sale | $ 83 | $ 186 |
Debt Securities (Schedule Of Gr
Debt Securities (Schedule Of Gross Unrealized Losses And Estimated Fair Value Of Securities Available For Sale) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 1,119 | $ 17,379 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (15) | (1,507) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 24,555 | 10,436 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,807) | (1,928) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 25,674 | 27,815 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (2,822) | (3,435) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | 720 |
Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (55) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 716 | 31 |
Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (46) | (5) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 716 | 751 |
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Loss | (46) | (60) |
US Treasury Securities [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 6 | 276 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (8) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,201 | 903 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (99) | (115) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,207 | 1,179 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (99) | (123) |
Federal agency securities [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 237 | 766 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (5) | (50) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 666 | 53 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (41) | (12) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 903 | 819 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (46) | (62) |
Residential Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 241 | 9,350 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3) | (1,005) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 15,144 | 7,578 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,127) | (1,518) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 15,385 | 16,928 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (2,130) | (2,523) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | 251 |
Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (29) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 223 | 7 |
Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (23) | (1) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 223 | 258 |
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Loss | (23) | (30) |
Commercial Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 612 | 6,110 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7) | (400) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 6,583 | 1,503 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (495) | (249) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 7,195 | 7,613 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (502) | (649) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | 469 |
Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (26) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 493 | 24 |
Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (23) | (4) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 493 | 493 |
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Loss | (23) | (30) |
Commercial Non Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 141 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (8) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 82 | 45 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (10) | (4) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 82 | 186 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (10) | (12) |
Corporate and other debt securities [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 23 | 736 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (36) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 879 | 354 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (35) | (30) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 902 | 1,090 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ (35) | $ (66) |
Debt Securities (Narrative) (De
Debt Securities (Narrative) (Details) $ in Millions | Dec. 31, 2023 USD ($) security | Dec. 31, 2022 USD ($) security |
Debt Securities, Available-for-sale [Line Items] | ||
Debt securities available for sale | $ 28,104 | $ 27,933 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security | 1,703 | 1,806 |
Asset Pledged as Collateral | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt securities available for sale | $ 24,000 | $ 8,800 |
Loans (Schedule Of Loan Portfol
Loans (Schedule Of Loan Portfolio, Net Of Unearned Income) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 98,379 | $ 97,009 |
Loans and Leases Receivable, Deferred Income | 965 | 894 |
Commercial And Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 50,865 | 50,905 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 4,887 | 5,103 |
Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 281 | 298 |
Commercial Investor Real Estate Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 6,605 | 6,393 |
Commercial Investor Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,245 | 1,986 |
Residential First Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 20,207 | 18,810 |
Home Equity Lines of Credit[Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 3,221 | 3,510 |
Home Equity Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,439 | 2,489 |
Consumer Credit Card Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,341 | 1,248 |
OtherConsumerExitPortfolioMember [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 43 | 570 |
Other Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 6,245 | 5,697 |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 56,033 | 56,306 |
Total Investor Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 8,850 | 8,379 |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 33,496 | $ 32,324 |
Allowance For Credit Losses (An
Allowance For Credit Losses (Analysis Of The Allowance For Credit Losses By Portfolio Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||
Allowance for loan losses, beginning of period | $ 1,464 | $ 1,479 | $ 2,167 |
Cumulative change in accounting guidance | (38) | ||
LoanandLeaseReceivableAllowanceBeginningBalanceadjustedforchangeinaccountingguidance | 1,426 | ||
Provision (credit) for loan losses | 547 | 248 | (493) |
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | 9 | ||
Loan Losses: | |||
Charge-offs | (490) | (375) | (328) |
Recoveries | 93 | 112 | 124 |
Net loan losses | (397) | (263) | (204) |
Total allowance for loan losses | 1,576 | 1,464 | 1,479 |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||
Reserve for unfunded credit commitments, beginning of year | 118 | 95 | 126 |
Provision (credit) for unfunded credit losses | 6 | 23 | (31) |
Reserve for unfunded credit commitments, end of year | 124 | 118 | 95 |
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest | 1,700 | 1,582 | 1,574 |
Commercial Portfolio Segment [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Allowance for loan losses, beginning of period | 665 | 682 | 1,196 |
Cumulative change in accounting guidance | (3) | ||
LoanandLeaseReceivableAllowanceBeginningBalanceadjustedforchangeinaccountingguidance | 662 | ||
Provision (credit) for loan losses | 205 | 40 | (445) |
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | 0 | ||
Loan Losses: | |||
Charge-offs | (197) | (107) | (128) |
Recoveries | 52 | 50 | 59 |
Net loan losses | (145) | (57) | (69) |
Total allowance for loan losses | 722 | 665 | 682 |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||
Reserve for unfunded credit commitments, beginning of year | 72 | 58 | 97 |
Provision (credit) for unfunded credit losses | 20 | 14 | (39) |
Reserve for unfunded credit commitments, end of year | 92 | 72 | 58 |
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest | 814 | 737 | 740 |
Total Investor Real Estate [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Allowance for loan losses, beginning of period | 121 | 79 | 183 |
Cumulative change in accounting guidance | (3) | ||
LoanandLeaseReceivableAllowanceBeginningBalanceadjustedforchangeinaccountingguidance | 118 | ||
Provision (credit) for loan losses | 74 | 45 | (87) |
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | 0 | ||
Loan Losses: | |||
Charge-offs | 0 | (5) | (20) |
Recoveries | 0 | 2 | 3 |
Net loan losses | 0 | (3) | (17) |
Total allowance for loan losses | 192 | 121 | 79 |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||
Reserve for unfunded credit commitments, beginning of year | 21 | 8 | 14 |
Provision (credit) for unfunded credit losses | (8) | 13 | (6) |
Reserve for unfunded credit commitments, end of year | 13 | 21 | 8 |
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest | 205 | 142 | 87 |
Consumer Portfolio Segment [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Allowance for loan losses, beginning of period | 678 | 718 | 788 |
Cumulative change in accounting guidance | (32) | ||
LoanandLeaseReceivableAllowanceBeginningBalanceadjustedforchangeinaccountingguidance | 646 | ||
Provision (credit) for loan losses | 268 | 163 | 39 |
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | 9 | ||
Loan Losses: | |||
Charge-offs | (293) | (263) | (180) |
Recoveries | 41 | 60 | 62 |
Net loan losses | (252) | (203) | (118) |
Total allowance for loan losses | 662 | 678 | 718 |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||
Reserve for unfunded credit commitments, beginning of year | 25 | 29 | 15 |
Provision (credit) for unfunded credit losses | (6) | (4) | 14 |
Reserve for unfunded credit commitments, end of year | 19 | 25 | 29 |
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest | $ 681 | $ 703 | $ 747 |
Allowance for Credit Losses (Fi
Allowance for Credit Losses (Financing Receivables Credit Quality Indicators) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | $ 16,042 | $ 23,458 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 20,029 | 17,466 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 14,395 | 11,572 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,423 | 5,528 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,650 | 3,108 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 8,728 | 8,670 |
Financing Receivable, Revolving | 25,943 | 26,792 |
Financing Receivable, Revolving Converted to Amortizing | 77 | 82 |
Financing Receivable, Unallocated | 92 | 333 |
Loans, net of unearned income | 98,379 | 97,009 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 72 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 114 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 87 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 45 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 43 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 62 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 67 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 490 | |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 8,628 | 12,376 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 9,623 | 7,456 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,449 | 3,397 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,479 | 2,393 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,429 | 1,147 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,313 | 3,307 |
Financing Receivable, Revolving | 19,891 | 20,516 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 53 | 313 |
Loans, net of unearned income | 50,865 | 50,905 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 12 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 57 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 55 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 28 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 15 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 16 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 12 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 195 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 827 | 1,076 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,004 | 1,225 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,063 | 991 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 700 | 525 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 361 | 544 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 846 | 655 |
Financing Receivable, Revolving | 91 | 92 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (5) | (5) |
Loans, net of unearned income | 4,887 | 5,103 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 1 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 1 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 2 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 91 | 117 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 61 | 79 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 44 | 25 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 27 | 16 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11 | 17 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 44 | 43 |
Financing Receivable, Revolving | 3 | 1 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 281 | 298 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 0 | |
Commercial Investor Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,632 | 2,720 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,088 | 1,396 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,224 | 708 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 614 | 622 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 405 | 325 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 141 | 101 |
Financing Receivable, Revolving | 505 | 528 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (4) | (7) |
Loans, net of unearned income | 6,605 | 6,393 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 0 | |
Commercial Investor Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 256 | 486 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 983 | 454 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 280 | 222 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 26 | 112 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 1 |
Financing Receivable, Revolving | 712 | 727 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (15) | (16) |
Loans, net of unearned income | 2,245 | 1,986 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 0 | |
Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,305 | 3,059 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,420 | 5,187 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,037 | 5,331 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,890 | 1,100 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 975 | 447 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,398 | 3,517 |
Financing Receivable, Revolving | 1 | 2 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 181 | 167 |
Loans, net of unearned income | 20,207 | 18,810 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 1 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 1 | |
Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 3,111 | 3,397 |
Financing Receivable, Revolving Converted to Amortizing | 77 | 82 |
Financing Receivable, Unallocated | 33 | 31 |
Loans, net of unearned income | 3,221 | 3,510 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 3 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 3 | |
Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 397 | 548 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 471 | 567 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 486 | 294 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 243 | 154 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 125 | 140 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 701 | 769 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 16 | 17 |
Loans, net of unearned income | 2,439 | 2,489 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 1 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 1 | |
Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 1,359 | 1,264 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (18) | (16) |
Loans, net of unearned income | 1,341 | 1,248 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 52 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 52 | |
Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 157 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4 | 262 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 39 | 149 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 2 |
Loans, net of unearned income | 43 | 570 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 19 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 31 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 50 | |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,906 | 3,076 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,379 | 1,102 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 812 | 604 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 444 | 449 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 338 | 226 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 245 | 128 |
Financing Receivable, Revolving | 270 | 265 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (149) | (153) |
Loans, net of unearned income | 6,245 | 5,697 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 59 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 57 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 32 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 17 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 9 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 12 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 186 | |
Pass [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 8,272 | 11,948 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 9,123 | 7,167 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,267 | 3,277 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,326 | 2,297 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,376 | 1,026 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,210 | 3,283 |
Financing Receivable, Revolving | 18,561 | 19,599 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 53 | 313 |
Loans, net of unearned income | 48,188 | 48,910 |
Pass [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 799 | 1,058 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 954 | 1,175 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 988 | 929 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 658 | 479 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 343 | 519 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 801 | 626 |
Financing Receivable, Revolving | 76 | 89 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (5) | (5) |
Loans, net of unearned income | 4,614 | 4,870 |
Pass [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 89 | 115 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 53 | 79 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 44 | 22 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 24 | 15 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11 | 15 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 38 | 38 |
Financing Receivable, Revolving | 3 | 1 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 262 | 285 |
Pass [Member] | Commercial Investor Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,130 | 2,332 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,587 | 1,321 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,135 | 634 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 488 | 466 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 296 | 257 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 110 | 94 |
Financing Receivable, Revolving | 383 | 490 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (4) | (7) |
Loans, net of unearned income | 5,125 | 5,587 |
Pass [Member] | Commercial Investor Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 256 | 458 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 836 | 402 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 280 | 205 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 26 | 112 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 1 |
Financing Receivable, Revolving | 649 | 722 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (15) | (16) |
Loans, net of unearned income | 2,035 | 1,884 |
Special Mention [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 87 | 85 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 186 | 120 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 71 | 70 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 109 | 30 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 26 | 32 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 90 | 1 |
Financing Receivable, Revolving | 484 | 282 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 1,053 | 620 |
Special Mention [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 21 | 7 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 13 | 32 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33 | 17 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 20 | 10 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7 | 15 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 13 | 12 |
Financing Receivable, Revolving | 14 | 2 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 121 | 95 |
Special Mention [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 2 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 8 | 2 |
Special Mention [Member] | Commercial Investor Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 269 | 229 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 247 | 75 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 52 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 59 | 18 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 30 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 3 |
Financing Receivable, Revolving | 90 | 38 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 747 | 363 |
Special Mention [Member] | Commercial Investor Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 25 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 122 | 52 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 59 | 5 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 181 | 82 |
Substandard [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 141 | 248 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 212 | 114 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 74 | 39 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 38 | 57 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7 | 53 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3 | 17 |
Financing Receivable, Revolving | 678 | 500 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 1,153 | 1,028 |
Substandard [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 3 | 10 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 34 | 16 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 32 | 36 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 14 | 35 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8 | 5 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 24 | 6 |
Financing Receivable, Revolving | 1 | 1 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 116 | 109 |
Substandard [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 2 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 2 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 1 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 3 | 5 |
Substandard [Member] | Commercial Investor Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 134 | 107 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 197 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 74 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 67 | 138 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 67 | 68 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3 | 3 |
Financing Receivable, Revolving | 32 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 500 | 390 |
Substandard [Member] | Commercial Investor Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 3 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 25 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 17 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 4 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 29 | 20 |
Non-Accrual [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 128 | 95 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 102 | 55 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 37 | 11 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6 | 9 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20 | 36 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 10 | 6 |
Financing Receivable, Revolving | 168 | 135 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 471 | 347 |
Non-Accrual [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 4 | 1 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3 | 2 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10 | 9 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8 | 1 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3 | 5 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 8 | 11 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 36 | 29 |
Non-Accrual [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 1 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2 | 1 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4 | 4 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 8 | 6 |
Non-Accrual [Member] | Commercial Investor Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 99 | 52 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 57 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 37 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 12 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 28 | 1 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 233 | 53 |
Non-Accrual [Member] | Commercial Investor Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 9,546 | 13,569 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 10,688 | 8,760 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6,556 | 4,413 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,206 | 2,934 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,801 | 1,708 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,203 | 4,005 |
Financing Receivable, Revolving | 19,985 | 20,609 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 48 | 308 |
Loans, net of unearned income | 56,033 | 56,306 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 13 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 57 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 55 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 28 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 15 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 17 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 12 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 197 | |
Total Investor Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,888 | 3,206 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,071 | 1,850 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,504 | 930 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 640 | 734 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 407 | 325 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 142 | 102 |
Financing Receivable, Revolving | 1,217 | 1,255 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (19) | (23) |
Loans, net of unearned income | 8,850 | 8,379 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 0 | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 4,608 | 6,683 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6,270 | 6,856 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6,335 | 6,229 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,577 | 1,860 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,442 | 1,075 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,383 | 4,563 |
Financing Receivable, Revolving | 4,741 | 4,928 |
Financing Receivable, Revolving Converted to Amortizing | 77 | 82 |
Financing Receivable, Unallocated | 63 | 48 |
Loans, net of unearned income | 33,496 | 32,324 |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff | 59 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 57 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 32 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 17 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 28 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff | 45 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 55 | |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | |
Gross charge-offs, Unallocated | 0 | |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 293 | |
FICO Scores, Above 720 [Member] | Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,939 | 2,485 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,863 | 4,455 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,358 | 4,765 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,390 | 899 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 816 | 327 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,353 | 2,445 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 16,719 | 15,376 |
FICO Scores, Above 720 [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 2,399 | 2,620 |
Financing Receivable, Revolving Converted to Amortizing | 45 | 47 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 2,444 | 2,667 |
FICO Scores, Above 720 [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 322 | 436 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 370 | 466 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 397 | 250 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 205 | 117 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 93 | 106 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 529 | 582 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 1,916 | 1,957 |
FICO Scores, Above 720 [Member] | Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 780 | 719 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 780 | 719 |
FICO Scores, Above 720 [Member] | Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 102 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2 | 172 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 22 | 96 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 24 | 370 |
FICO Scores, Above 720 [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,312 | 2,072 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,519 | 674 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 501 | 382 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 284 | 215 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 155 | 99 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 118 | 80 |
Financing Receivable, Revolving | 119 | 119 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 4,008 | 3,641 |
FICO Scores, 681-720 [Member] | Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 226 | 337 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 298 | 412 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 355 | 313 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 255 | 83 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 52 | 42 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 294 | 300 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 1,480 | 1,487 |
FICO Scores, 681-720 [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 346 | 369 |
Financing Receivable, Revolving Converted to Amortizing | 11 | 12 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 357 | 381 |
FICO Scores, 681-720 [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 53 | 75 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 62 | 62 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 49 | 26 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 22 | 17 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 14 | 14 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 60 | 67 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 260 | 261 |
FICO Scores, 681-720 [Member] | Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 254 | 246 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 254 | 246 |
FICO Scores, 681-720 [Member] | Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 30 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | 40 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4 | 23 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 5 | 93 |
FICO Scores, 681-720 [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 270 | 493 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 409 | 200 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 136 | 106 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 74 | 50 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 34 | 23 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 29 | 20 |
Financing Receivable, Revolving | 67 | 66 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 1,019 | 958 |
FICO Scores, 620-680 [Member] | Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 86 | 168 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 153 | 183 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 153 | 129 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 112 | 53 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 43 | 34 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 270 | 295 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 817 | 862 |
FICO Scores, 620-680 [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 184 | 212 |
Financing Receivable, Revolving Converted to Amortizing | 9 | 11 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 193 | 223 |
FICO Scores, 620-680 [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 19 | 29 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 27 | 28 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 23 | 11 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8 | 12 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8 | 9 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 52 | 58 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 137 | 147 |
FICO Scores, 620-680 [Member] | Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 210 | 204 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 210 | 204 |
FICO Scores, 620-680 [Member] | Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 17 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 30 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5 | 17 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 5 | 64 |
FICO Scores, 620-680 [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 178 | 348 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 294 | 153 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 103 | 73 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 50 | 34 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 21 | 19 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 20 | 15 |
Financing Receivable, Revolving | 53 | 55 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 719 | 697 |
FICO Scores, Below 620 [Member] | Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 21 | 42 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 90 | 92 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 122 | 77 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 87 | 52 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 53 | 40 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 389 | 379 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 762 | 682 |
FICO Scores, Below 620 [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 97 | 99 |
Financing Receivable, Revolving Converted to Amortizing | 7 | 8 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 104 | 107 |
FICO Scores, Below 620 [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2 | 4 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8 | 8 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12 | 4 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5 | 5 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7 | 7 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 35 | 38 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 69 | 66 |
FICO Scores, Below 620 [Member] | Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 95 | 86 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 95 | 86 |
FICO Scores, Below 620 [Member] | Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 7 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | 17 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7 | 10 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 8 | 34 |
FICO Scores, Below 620 [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 52 | 102 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 147 | 69 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 65 | 38 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 31 | 20 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 14 | 12 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 13 | 8 |
Financing Receivable, Revolving | 30 | 23 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 0 |
Loans, net of unearned income | 352 | 272 |
FICO Scores, Data not available [Member] [Member] | Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 33 | 27 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 16 | 45 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 49 | 47 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 46 | 13 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11 | 4 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 92 | 98 |
Financing Receivable, Revolving | 1 | 2 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 181 | 167 |
Loans, net of unearned income | 429 | 403 |
FICO Scores, Data not available [Member] [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 85 | 97 |
Financing Receivable, Revolving Converted to Amortizing | 5 | 4 |
Financing Receivable, Unallocated | 33 | 31 |
Loans, net of unearned income | 123 | 132 |
FICO Scores, Data not available [Member] [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1 | 4 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 4 | 3 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5 | 3 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3 | 3 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3 | 4 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 25 | 24 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 16 | 17 |
Loans, net of unearned income | 57 | 58 |
FICO Scores, Data not available [Member] [Member] | Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 20 | 9 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (18) | (16) |
Loans, net of unearned income | 2 | (7) |
FICO Scores, Data not available [Member] [Member] | Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 1 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 3 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 3 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | 0 | 2 |
Loans, net of unearned income | 1 | 9 |
FICO Scores, Data not available [Member] [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 94 | 61 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 10 | 6 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7 | 5 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5 | 130 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 114 | 73 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 65 | 5 |
Financing Receivable, Revolving | 1 | 2 |
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 |
Financing Receivable, Unallocated | (149) | (153) |
Loans, net of unearned income | $ 147 | $ 129 |
Allowance For Credit Losses (Pa
Allowance For Credit Losses (Past Due Financing Receivables) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | $ 205 | $ 208 |
Total 30 plus DPD, Accrual Loans | 581 | 539 |
Total Accrual | 97,574 | 96,509 |
Nonaccrual | 805 | 500 |
Loans, net of unearned income | 98,379 | 97,009 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 171 | 137 |
Total 30 plus DPD, Accrual Loans | 477 | 403 |
Total Accrual | 33,439 | 32,259 |
Nonaccrual | 57 | 65 |
Loans, net of unearned income | 33,496 | 32,324 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 11 | 31 |
Total 30 plus DPD, Accrual Loans | 81 | 96 |
Total Accrual | 55,518 | 55,924 |
Nonaccrual | 515 | 382 |
Loans, net of unearned income | 56,033 | 56,306 |
Total Investor Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 23 | 40 |
Total 30 plus DPD, Accrual Loans | 23 | 40 |
Total Accrual | 8,617 | 8,326 |
Nonaccrual | 233 | 53 |
Loans, net of unearned income | 8,850 | 8,379 |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 11 | 30 |
Total 30 plus DPD, Accrual Loans | 75 | 86 |
Total Accrual | 50,394 | 50,558 |
Nonaccrual | 471 | 347 |
Loans, net of unearned income | 50,865 | 50,905 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 0 | 1 |
Total 30 plus DPD, Accrual Loans | 5 | 10 |
Total Accrual | 4,851 | 5,074 |
Nonaccrual | 36 | 29 |
Loans, net of unearned income | 4,887 | 5,103 |
Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 0 | 0 |
Total 30 plus DPD, Accrual Loans | 1 | 0 |
Total Accrual | 273 | 292 |
Nonaccrual | 8 | 6 |
Loans, net of unearned income | 281 | 298 |
Commercial Investor Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 23 | 40 |
Total 30 plus DPD, Accrual Loans | 23 | 40 |
Total Accrual | 6,372 | 6,340 |
Nonaccrual | 233 | 53 |
Loans, net of unearned income | 6,605 | 6,393 |
Commercial Investor Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 0 | 0 |
Total 30 plus DPD, Accrual Loans | 0 | 0 |
Total Accrual | 2,245 | 1,986 |
Nonaccrual | 0 | 0 |
Loans, net of unearned income | 2,245 | 1,986 |
Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 95 | 81 |
Total 30 plus DPD, Accrual Loans | 247 | 213 |
Total Accrual | 20,185 | 18,779 |
Nonaccrual | 22 | 31 |
Loans, net of unearned income | 20,207 | 18,810 |
Home Equity Lines of Credit[Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 20 | 15 |
Total 30 plus DPD, Accrual Loans | 47 | 45 |
Total Accrual | 3,192 | 3,482 |
Nonaccrual | 29 | 28 |
Loans, net of unearned income | 3,221 | 3,510 |
Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 7 | 8 |
Total 30 plus DPD, Accrual Loans | 21 | 19 |
Total Accrual | 2,433 | 2,483 |
Nonaccrual | 6 | 6 |
Loans, net of unearned income | 2,439 | 2,489 |
Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 20 | 15 |
Total 30 plus DPD, Accrual Loans | 39 | 31 |
Total Accrual | 1,341 | 1,248 |
Nonaccrual | 0 | 0 |
Loans, net of unearned income | 1,341 | 1,248 |
Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 0 | 1 |
Total 30 plus DPD, Accrual Loans | 3 | 11 |
Total Accrual | 43 | 570 |
Nonaccrual | 0 | 0 |
Loans, net of unearned income | 43 | 570 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 plus DPD, Accrual Loans | 29 | 17 |
Total 30 plus DPD, Accrual Loans | 120 | 84 |
Total Accrual | 6,245 | 5,697 |
Nonaccrual | 0 | 0 |
Loans, net of unearned income | 6,245 | 5,697 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 250 | 218 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 204 | 175 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 46 | 43 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Total Investor Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 43 | 36 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 3 | 7 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Investor Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Investor Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 104 | 87 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity Lines of Credit[Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 17 | 18 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 10 | 8 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 11 | 9 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 2 | 7 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 60 | 46 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 126 | 113 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 102 | 91 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 24 | 22 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Total Investor Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 21 | 20 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 2 | 2 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 1 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Investor Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Investor Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential First Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 48 | 45 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity Lines of Credit[Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 10 | 12 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 4 | 3 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Credit Card Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 8 | 7 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Other consumer- exit portfolios | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | 1 | 3 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due less than 90 days | $ 31 | $ 21 |
Allowance For Credit Losses (Mo
Allowance For Credit Losses (ModificationsByClassAndSegment) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 887 |
Term Extension, Percentage | 0.90% |
Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 696 |
Term Extension, Percentage | 0.71% |
Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 142 |
Term Extension, Percentage | 0.14% |
Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 12 |
Term Extension, Percentage | 0.01% |
Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 37 |
Term Extension, Percentage | 0.04% |
Commercial Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 561 |
Term Extension, Percentage | 1% |
Commercial Portfolio Segment [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 384 |
Term Extension, Percentage | 0.68% |
Financing Receivable, Excluding Accrued Interest, Modified, Accumulated | $ 106 |
Commercial Portfolio Segment [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 140 |
Term Extension, Percentage | 0.25% |
Commercial Portfolio Segment [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial Portfolio Segment [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 37 |
Term Extension, Percentage | 0.07% |
Total Investor Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 213 |
Term Extension, Percentage | 2.41% |
Total Investor Real Estate [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 213 |
Term Extension, Percentage | 2.41% |
Total Investor Real Estate [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Total Investor Real Estate [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Total Investor Real Estate [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Consumer Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 113 |
Term Extension, Percentage | 0.34% |
Consumer Portfolio Segment [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 99 |
Term Extension, Percentage | 0.29% |
Consumer Portfolio Segment [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 2 |
Term Extension, Percentage | 0.01% |
Consumer Portfolio Segment [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 12 |
Term Extension, Percentage | 0.03% |
Consumer Portfolio Segment [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial And Industrial [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 555 |
Term Extension, Percentage | 1.09% |
Commercial And Industrial [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 379 |
Term Extension, Percentage | 0.75% |
Commercial And Industrial [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 139 |
Term Extension, Percentage | 0.27% |
Commercial And Industrial [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial And Industrial [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 37 |
Term Extension, Percentage | 0.07% |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 3 |
Term Extension, Percentage | 0.06% |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 3 |
Term Extension, Percentage | 0.05% |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial Real Estate Construction - Owner-Occupied [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 3 |
Term Extension, Percentage | 0.81% |
Commercial Real Estate Construction - Owner-Occupied [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 2 |
Term Extension, Percentage | 0.67% |
Commercial Real Estate Construction - Owner-Occupied [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 1 |
Term Extension, Percentage | 0.15% |
Commercial Real Estate Construction - Owner-Occupied [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial Real Estate Construction - Owner-Occupied [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial investor real estate mortgage [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 213 |
Term Extension, Percentage | 3.23% |
Commercial investor real estate mortgage [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 213 |
Term Extension, Percentage | 3.23% |
Commercial investor real estate mortgage [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial investor real estate mortgage [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Commercial investor real estate mortgage [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Residential First Mortgage [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 99 |
Term Extension, Percentage | 0.49% |
Residential First Mortgage [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 94 |
Term Extension, Percentage | 0.46% |
Residential First Mortgage [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 2 |
Term Extension, Percentage | 0.01% |
Residential First Mortgage [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 3 |
Term Extension, Percentage | 0.02% |
Residential First Mortgage [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Home Equity Lines of Credit[Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 5 |
Term Extension, Percentage | 0.13% |
Home Equity Lines of Credit[Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 1 |
Term Extension, Percentage | 0.02% |
Home Equity Lines of Credit[Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Home Equity Lines of Credit[Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 4 |
Term Extension, Percentage | 0.11% |
Home Equity Lines of Credit[Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Home Equity Loan [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 9 |
Term Extension, Percentage | 0.35% |
Home Equity Loan [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 4 |
Term Extension, Percentage | 0.17% |
Home Equity Loan [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Home Equity Loan [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 5 |
Term Extension, Percentage | 0.18% |
Home Equity Loan [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 0 |
Term Extension, Percentage | 0% |
Allowance For Credit Losses (_2
Allowance For Credit Losses (Financial Impact Of Modifications To Troubled Borrowers) (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Commercial And Industrial [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 1 year |
Commercial And Industrial [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Payments deferral | 0.5 |
Commercial And Industrial [Member] | Extended Maturity and Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 3 years |
Financial Effect, Payments deferral | 3 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 1 year 6 months |
Commercial Real Estate Construction - Owner-Occupied [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 3 months |
Commercial investor real estate mortgage [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 9 months 29 days |
Residential First Mortgage [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 6 years |
Residential First Mortgage [Member] | Payment Deferral | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Payments deferral | 0.83 |
Residential First Mortgage [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 7 years |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 1% |
Home Equity Lines of Credit[Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 18 years |
Home Equity Lines of Credit[Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 21 years |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 1% |
Home Equity Loan [Member] | Extended Maturity | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 14 years |
Home Equity Loan [Member] | Extended Maturity and Interest Rate Reduction | |
Financing Receivable, Modifications [Line Items] | |
Financial Effect, Term Extension | 17 years |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 2% |
Allowance For Credit Losses (Ag
Allowance For Credit Losses (Aging and NonAccrual Performance for Modifications to Troubled Borrowers (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 887 |
Defaulted during period where modified in a TDR, twelve months prior to modification | 116 |
Consumer Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 113 |
Commercial Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 561 |
Total Investor Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 213 |
Current | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 593 |
Current | Consumer Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 86 |
Current | Commercial Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 356 |
Current | Total Investor Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 151 |
Financial Asset, 30 to 89 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 17 |
Financial Asset, 30 to 89 Days Past Due | Consumer Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 17 |
Financial Asset, 30 to 89 Days Past Due | Commercial Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Financial Asset, 30 to 89 Days Past Due | Total Investor Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 10 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Consumer Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 5 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 5 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Total Investor Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Non-performing [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 267 |
Non-performing [Member] | Consumer Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 5 |
Non-performing [Member] | Commercial Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 200 |
Non-performing [Member] | Total Investor Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 62 |
Commercial And Industrial [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 555 |
Commercial And Industrial [Member] | Current | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 355 |
Commercial And Industrial [Member] | Financial Asset, 30 to 89 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Commercial And Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 5 |
Commercial And Industrial [Member] | Non-performing [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 195 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 3 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Current | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 1 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Financial Asset, 30 to 89 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | Non-performing [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 2 |
Commercial Real Estate Construction - Owner-Occupied [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 3 |
Commercial Real Estate Construction - Owner-Occupied [Member] | Current | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Commercial Real Estate Construction - Owner-Occupied [Member] | Financial Asset, 30 to 89 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Commercial Real Estate Construction - Owner-Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Commercial Real Estate Construction - Owner-Occupied [Member] | Non-performing [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 3 |
Commercial investor real estate mortgage [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 213 |
Commercial investor real estate mortgage [Member] | Current | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 151 |
Commercial investor real estate mortgage [Member] | Financial Asset, 30 to 89 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Commercial investor real estate mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Commercial investor real estate mortgage [Member] | Non-performing [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 62 |
Residential First Mortgage [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 99 |
Residential First Mortgage [Member] | Current | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 75 |
Residential First Mortgage [Member] | Financial Asset, 30 to 89 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 16 |
Residential First Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 5 |
Residential First Mortgage [Member] | Non-performing [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 3 |
Home Equity Lines of Credit[Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 5 |
Home Equity Lines of Credit[Member] | Current | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 5 |
Home Equity Lines of Credit[Member] | Financial Asset, 30 to 89 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Home Equity Lines of Credit[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Home Equity Lines of Credit[Member] | Non-performing [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Home Equity Loan [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 9 |
Home Equity Loan [Member] | Current | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 6 |
Home Equity Loan [Member] | Financial Asset, 30 to 89 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 1 |
Home Equity Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | 0 |
Home Equity Loan [Member] | Non-performing [Member] | |
Financing Receivable, Modifications [Line Items] | |
Term extension, amount | $ 2 |
Allowance For Credit Losses (Lo
Allowance For Credit Losses (Loans by Class Modified byTDRs) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) obligor | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 1,360 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 385 |
Increase in Allowance at Modification | $ 10 |
Commercial Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 61 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 182 |
Increase in Allowance at Modification | $ 0 |
Total Investor Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 5 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 48 |
Increase in Allowance at Modification | $ 0 |
Consumer Portfolio Segment [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 1,294 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 155 |
Increase in Allowance at Modification | $ 10 |
Commercial And Industrial [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 50 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 174 |
Increase in Allowance at Modification | $ 0 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 11 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 5 |
Increase in Allowance at Modification | $ 0 |
Commercial Real Estate Construction - Owner-Occupied [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 3 |
Increase in Allowance at Modification | $ 0 |
Commercial investor real estate mortgage [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 5 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 48 |
Increase in Allowance at Modification | $ 0 |
Commercial Investor Real Estate Construction [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 |
Increase in Allowance at Modification | $ 0 |
Residential First Mortgage [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 983 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 135 |
Increase in Allowance at Modification | $ 6 |
Home Equity Lines of Credit[Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 94 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 6 |
Increase in Allowance at Modification | $ 4 |
Home Equity Loan [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 208 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 14 |
Increase in Allowance at Modification | $ 0 |
Consumer Credit Card Financing Receivable [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 4 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 |
Increase in Allowance at Modification | $ 0 |
Other consumer- exit portfolios | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 |
Increase in Allowance at Modification | $ 0 |
Other Consumer [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Obligors | obligor | 5 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 |
Increase in Allowance at Modification | $ 0 |
Allowance For Credit Losses (Na
Allowance For Credit Losses (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2023 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable no allowance | $ 151 | $ 280 |
Loans, net of unearned income | 97,009 | 98,379 |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 56,306 | 56,033 |
Total Investor Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 8,379 | 8,850 |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 32,324 | 33,496 |
Collateral Dependent Member | Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 162 | 220 |
Collateral Dependent Member | Total Investor Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 92 | |
residential real estate and home equity loan and lines | Collateral Dependent Member | Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 105 | 93 |
Consumer Unsecured Loans sold in period | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, book balance sold in period | 1,200 | 284 |
Allowance for loan losses, related to loans sold prior to sale | 94 | 27 |
Financing Receiable, Allowance for Credit loss, writeoff on loans sold | 63 | 35 |
Allowance for loans sold | $ 31 | |
Loss on sale of loans recorded through provision expense | $ 8 |
Servicing of Financial Assets_2
Servicing of Financial Assets (Analysis Of Residential MSRs Under The Fair Value Measurement Method) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Servicing Asset at Fair Value, Amount [Roll Forward] | |||
Carrying Value, beginning of period | $ 812 | ||
Carrying value, end of period | 906 | $ 812 | |
Residential Mortgage [Member] | |||
Servicing Asset at Fair Value, Amount [Roll Forward] | |||
Carrying Value, beginning of period | 812 | 418 | $ 296 |
Additions | 27 | 44 | 77 |
Servicing Asset, at fair value, purchases | 158 | 301 | 72 |
Increase (decrease) in fair value, due to change in valuation inputs or assumptions | 17 | 127 | 43 |
Increase (decrease) in fair value, economic amortization associated with borrower repayments | (108) | (78) | (70) |
Carrying value, end of period | $ 906 | $ 812 | $ 418 |
Servicing of Financial Assets_3
Servicing of Financial Assets (Data And Assumptions Used In The Fair Value Calculation As Well As The Valuation's Sensitivity To Rate Fluctuations Related To Mortgage Servicing Rights) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 USD ($) basis_point | Dec. 31, 2022 USD ($) basis_point | |
Transfers and Servicing of Financial Assets [Abstract] | ||
Unpaid principal balance | $ 62,059 | $ 54,603 |
Weighted-average CPR (%) | 8.20% | 7.40% |
Estimated impact on fair value of a 10% increase | $ (43) | $ (50) |
Estimated impact on fair value of a 20% increase | $ (79) | $ (89) |
Option-adjusted spread (basis points) | basis_point | 482 | 507 |
Estimated impact on fair value of a 10% increase | $ (19) | $ (19) |
Estimated impact on fair value of a 20% increase | $ (39) | $ (37) |
Weighted-Average Coupon Interest Rate | 3.80% | 3.60% |
Weighted-average remaining maturity (months) | 302 months | 308 months |
Weighted-average servicing fee (basis points) | basis_point | 27.4 | 27.1 |
Servicing of Financial Assets_4
Servicing of Financial Assets (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Servicing Assets at Fair Value [Line Items] | ||||
Servicing Asset at Fair Value, Amount | $ 906 | $ 812 | ||
Residential Mortgage [Member] | ||||
Servicing Assets at Fair Value [Line Items] | ||||
Servicing related fees and other ancillary income | 165 | 137 | $ 102 | |
Servicing Asset at Fair Value, Amount | 906 | 812 | 418 | $ 296 |
Fannie Mae DUS License [Member] | ||||
Servicing Assets at Fair Value [Line Items] | ||||
Servicing Asset at Amortized Cost | 87 | 81 | 86 | |
Servicing Asset at Fair Value, Amount | 109 | 96 | 96 | |
Commercial Real Estate [Member] | ||||
Servicing Assets at Fair Value [Line Items] | ||||
Servicing related fees and other ancillary income | $ 23 | $ 24 | $ 25 |
Other Earning Assets (Schedule
Other Earning Assets (Schedule Of Investments in Federal Reserve Bank Stock And Federal Home Loan Bank Stock) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Federal Home Loan Bank Stock and Federal Reserve Bank Stock [Abstract] | ||
Federal Reserve Bank Stock | $ 434 | $ 438 |
Federal Home Loan Bank Stock | $ 18 | $ 15 |
Other Earning Assets (Narrative
Other Earning Assets (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |||
Equity Securities, FV-NI | $ 813 | $ 529 | |
Equity Securities, FV-NI, Unrealized Loss | 45 | ||
Equity Securities, FV-NI, Unrealized Gain | 15 | $ 20 | |
Other Miscellaneous Earning Assets | $ 152 | $ 326 |
Premises and Equipment (Schedul
Premises and Equipment (Schedule of Premises and Equipment) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 4,700 | $ 4,681 |
Accumulated depreciation and amortization | (3,058) | (2,963) |
Premises and equipment, net | 1,642 | 1,718 |
Land | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 409 | 420 |
Premises and improvements | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 1,555 | 1,680 |
Furniture and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 1,103 | 1,056 |
Software | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 1,034 | 969 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 449 | 455 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 150 | $ 101 |
Intangible Assets (Schedule Of
Intangible Assets (Schedule Of Goodwill By Segment) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Goodwill [Line Items] | ||
Goodwill | $ 5,733 | $ 5,733 |
Corporate Bank [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 3,006 | 3,006 |
Consumer Bank [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 2,334 | 2,334 |
Wealth Management [Member] | ||
Goodwill [Line Items] | ||
Goodwill | $ 393 | $ 393 |
Intangible Assets (Schedule o_2
Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Other Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $ 1,498 | $ 1,498 |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,293 | 1,249 |
Finite-Lived Intangible Assets, Net | 205 | 249 |
Core Deposits [Member] | ||
Other Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 1,011 | 1,011 |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,010 | 1,006 |
Finite-Lived Intangible Assets, Net | 1 | 5 |
Purchased Credit Card Relationships [Member] | ||
Other Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 175 | 175 |
Finite-Lived Intangible Assets, Accumulated Amortization | 169 | 164 |
Finite-Lived Intangible Assets, Net | 6 | 11 |
Customer-Related Intangible Assets | ||
Other Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 267 | 267 |
Finite-Lived Intangible Assets, Accumulated Amortization | 90 | 58 |
Finite-Lived Intangible Assets, Net | 177 | 209 |
Other Intangible Assets [Member] | ||
Other Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 26 | 26 |
Finite-Lived Intangible Assets, Accumulated Amortization | 24 | 21 |
Finite-Lived Intangible Assets, Net | 2 | 5 |
Fannie Mae DUS License [Member] | ||
Other Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 16 | 16 |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 |
Finite-Lived Intangible Assets, Net | 16 | 16 |
Other Intangible Assets [Member] | ||
Other Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 3 | 3 |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 |
Finite-Lived Intangible Assets, Net | $ 3 | $ 3 |
Intangible Assets (Aggregate Am
Intangible Assets (Aggregate Amount of Amortization Expense) (Details) $ in Millions | Dec. 31, 2023 USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 36 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 30 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 25 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 21 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 18 |
Intangible Assets (Narrative) (
Intangible Assets (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 USD ($) unit | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Intangible Assets [Line Items] | |||
Number of Reporting Units | unit | 3 | ||
Impairment of Intangible Assets (Excluding Goodwill) | $ | $ 0 | $ 0 | $ 0 |
Deposits (Schedule of Interest-
Deposits (Schedule of Interest-Bearing Deposits) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Deposits [Abstract] | ||
Interest-bearing checking | $ 24,480 | $ 25,676 |
Savings | 12,604 | 15,662 |
Money market—domestic | 33,364 | 33,285 |
Time deposits | 14,972 | 5,772 |
Interest-bearing Deposit Liabilities, Total | $ 85,420 | $ 80,395 |
Deposits (Schedule of Aggregate
Deposits (Schedule of Aggregate Amount of Maturities of All Time Deposits) (Details) $ in Millions | Dec. 31, 2023 USD ($) |
Deposits [Abstract] | |
Time Deposit Maturities, Next Twelve Months | $ 12,900 |
Time Deposit Maturities, Year Two | 1,551 |
Time Deposit Maturities, Year Three | 269 |
Time Deposit Maturities, Year Four | 194 |
Time Deposit Maturities, Year Five | 40 |
Time Deposit Maturities, after Year Five | 18 |
Time Deposits, Total | $ 14,972 |
Borrowings (Schedule of Long-Te
Borrowings (Schedule of Long-Term Borrowings) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 2,330 | $ 2,284 |
Parent Company [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | 1,832 | 1,786 |
Parent Company [Member] | Senior Notes [Member] | Two Point Two Five Percent Senior Notes Due April Two Thousand Twenty Five [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 747 | 747 |
Debt Instrument, Interest Rate, Stated Percentage | 2.25% | |
Parent Company [Member] | Senior Notes [Member] | One point Eight Percent Senior Notes Due August Two Thousand Twenty Eight | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 646 | 646 |
Debt Instrument, Interest Rate, Stated Percentage | 1.80% | |
Parent Company [Member] | Subordinated Debt [Member] | Seven Point Seven Five Percent Subordinated Notes Due September Two Thousand Twenty Four [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 100 | 100 |
Debt Instrument, Interest Rate, Stated Percentage | 7.75% | |
Parent Company [Member] | Subordinated Debt [Member] | Six Point Seven Five Percent Subordinated Debentures Due November Two Thousand Twenty Five [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 153 | 153 |
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | |
Parent Company [Member] | Subordinated Debt [Member] | Seven Point Three Seven Five Percent Subordinated Notes Due December Two Thousand Thirty Seven [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 298 | 298 |
Debt Instrument, Interest Rate, Stated Percentage | 7.375% | |
Parent Company [Member] | Valuation Adjustments On Hedged Long Term Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ (112) | (158) |
Regions Bank [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | 498 | 498 |
Regions Bank [Member] | Subordinated Debt [Member] | Six Point Four Five Percent Subordinated Notes Due June Two Thousand Thirty Seven [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 496 | 496 |
Debt Instrument, Interest Rate, Stated Percentage | 6.45% | |
Regions Bank [Member] | Other Long Term Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 2 | $ 2 |
Borrowings (Schedule of Maturit
Borrowings (Schedule of Maturities of Long-Term Borrowings) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Schedule of Maturities of Long-Term Debt [Line Items] | ||
Long-term borrowings | $ 2,330 | $ 2,284 |
Parent Company [Member] | ||
Schedule of Maturities of Long-Term Debt [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 100 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 859 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 575 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 298 | |
Long-term borrowings | 1,832 | 1,786 |
Regions Bank [Member] | ||
Schedule of Maturities of Long-Term Debt [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 498 | |
Long-term borrowings | $ 498 | $ 498 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | |||
Gain (Loss) on Extinguishment of Debt | $ 4 | $ 0 | $ (20) |
Debt, Weighted Average Interest Rate | 6.50% | 5.10% | 3.60% |
Parent Company [Member] | |||
Debt Instrument [Line Items] | |||
Gain (Loss) on Extinguishment of Debt | $ 0 | $ 0 | $ (20) |
Regulatory Capital Requiremen_3
Regulatory Capital Requirements and Restrictions (Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations) (Details) $ in Millions | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Regions Financial Corporation [Member] | ||
Basel III Common Equity Tier 1 Capital | ||
Basel III common equity Tier 1, Amount | $ 12,976 | $ 12,066 |
Basel III common equity Tier 1, Ratio | 0.1026 | 0.0960 |
Tier One Risk Based Capital | ||
Tier 1 Capital, Amount | $ 14,635 | $ 13,725 |
Tier 1 Capital, Ratio | 0.1157 | 0.1091 |
Total Capital | ||
Total Capital, Amount | $ 16,885 | $ 15,767 |
Total Capital, Ratio | 0.1335 | 0.1254 |
Leverage Capital | ||
Leverage, Amount | $ 14,635 | $ 13,725 |
Leverage, Ratio | 0.0972 | 0.0890 |
Regions Bank [Member] | ||
Basel III Common Equity Tier 1 Capital | ||
Basel III common equity Tier 1, Amount | $ 14,136 | $ 13,509 |
Basel III common equity Tier 1, Ratio | 0.1122 | 0.1077 |
Tier One Risk Based Capital | ||
Tier 1 Capital, Amount | $ 14,136 | $ 13,509 |
Tier 1 Capital, Ratio | 0.1122 | 0.1077 |
Total Capital | ||
Total Capital, Amount | $ 16,057 | $ 15,172 |
Total Capital, Ratio | 0.1274 | 0.1210 |
Leverage Capital | ||
Leverage, Amount | $ 14,136 | $ 13,509 |
Leverage, Ratio | 0.0944 | 0.0880 |
Standardized Approach [Member] | Regions Financial Corporation [Member] | ||
Basel III Common Equity Tier 1 Capital | ||
Basel III common equity Tier 1,Minimum Requirement | 0.0450 | 0.0450 |
Base III common equity, Tie 1, minimum requirement plus SCB | 7% | 7% |
Tier One Risk Based Capital | ||
Tier 1 Capital, Minimum Requirement | 0.0600 | 0.0600 |
Tier 1 Capital, Minimum Requirement Plus SCB | 8.50% | 8.50% |
Tier 1 Capital, To Be Well Capitalized | 0.0600 | 0.0600 |
Total Capital | ||
Total Capital, Minimum Requirement | 0.0800 | 0.0800 |
Total Capital, Minimum Requirement Plus SCB | 10.50% | 10.50% |
Total Capital, To Be Well Capitalized | 0.1000 | 0.1000 |
Leverage Capital | ||
Leverage, Minimum Requirement | 0.0400 | 0.0400 |
Leverage, Minimum Requirement Plus SCB | 4% | 4% |
Standardized Approach [Member] | Regions Bank [Member] | ||
Basel III Common Equity Tier 1 Capital | ||
Basel III common equity Tier 1,Minimum Requirement | 0.0450 | 0.0450 |
Base III common equity, Tie 1, minimum requirement plus SCB | 7% | 7% |
Basel III common equity Tier 1, To Be Well Capitalized | 0.0650 | 0.0650 |
Tier One Risk Based Capital | ||
Tier 1 Capital, Minimum Requirement | 0.0600 | 0.0600 |
Tier 1 Capital, Minimum Requirement Plus SCB | 8.50% | 8.50% |
Tier 1 Capital, To Be Well Capitalized | 0.0800 | 0.0800 |
Total Capital | ||
Total Capital, Minimum Requirement | 0.0800 | 0.0800 |
Total Capital, Minimum Requirement Plus SCB | 10.50% | 10.50% |
Total Capital, To Be Well Capitalized | 0.1000 | 0.1000 |
Leverage Capital | ||
Leverage, Minimum Requirement | 0.0400 | 0.0400 |
Leverage, Minimum Requirement Plus SCB | 4% | 4% |
Leverage, To Be Well Capitalized | 0.0500 | 0.0500 |
Regulatory Capital Requiremen_4
Regulatory Capital Requirements and Restrictions Narrative (Details) | Dec. 31, 2025 USD ($) | Dec. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
add-back on CET1 | $ 204 | ||
add-back on CETI, basis point impact | 0.0016 | ||
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum | 0.025 | ||
Scenario, Forecast | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
add-back on CET1 | $ 100,000,000 | $ 100,000,000 | |
add-back on CETI, basis point impact | 0.0008 | 0.0008 |
Leases (Lessee_ Information rel
Leases (Lessee: Information related to Operating Leases) (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
Leases [Abstract] | ||
Operating Lease, Weighted Average Remaining Lease Term | 9 years 7 months 6 days | 10 years |
Operating Lease, Weighted Average Discount Rate, Percent | 2.90% | 2.60% |
Leases (Lessee_ Schedule of Fut
Leases (Lessee: Schedule of Future, Undiscounted Minimum Lease Payments on Operating Leases) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Leases [Abstract] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 92 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 88 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 75 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 63 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 51 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 262 | |
Lessee, Operating Lease, Liability, Payments, Due | 631 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 96 | |
Operating Lease, Liability | $ 535 | $ 553 |
Leases (Lessor_ Summary of Sale
Leases (Lessor: Summary of Sales-Type, Direct Financing, Operating and Leveraged Leases) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net Interest Income and Other Financing Income | |||
Sales-Type and Direct Financing | $ 65 | $ 52 | $ 59 |
Leveraged Leases, Income Loss | 2 | 12 | 14 |
Lease Income | 67 | 64 | $ 73 |
Sales-Type and Direct Financing [Abstract] | |||
Sales-type and direct financing lease receivable | 1,397 | 1,236 | |
Sales-type and direct financing, unearned income. | (211) | (189) | |
Sales type and direct financing lease Guaranteed residual | 96 | 71 | |
Sales Type and Direct Financing Unguaranteed residual | 188 | 173 | |
Total net investment | 1,470 | 1,291 | |
Leveraged | |||
Lease Receivable | 123 | 140 | |
Unearned Income | (47) | (62) | |
Guaranteed residual | 0 | 0 | |
Unguaranteed residual | 118 | 134 | |
Total net investment | 194 | 212 | |
Total | |||
Lease Receivable | 1,520 | 1,376 | |
Unearned Income | (258) | (251) | |
Guaranteed residual | 96 | 71 | |
Unguaranteed residual | 306 | 307 | |
Total net investment | $ 1,664 | $ 1,503 |
Leases (Lessor_ Schedule of Min
Leases (Lessor: Schedule of Minimum Future Payments Due From Customers for Sales-Type, Direct Financing, and Operating Leases) (Details) $ in Millions | Dec. 31, 2023 USD ($) |
Leases [Abstract] | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Remainder of Fiscal Year | $ 332 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Two Years | 268 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Three Years | 228 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Four Years | 159 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Five Years | 103 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Thereafter | 307 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | $ 1,397 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Leases [Abstract] | |||
Operating Lease, Right-of-Use Asset | $ 462 | $ 474 | |
Operating Lease, Liability | 535 | 553 | |
Operating Lease, Cost | $ 85 | $ 86 | $ 87 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets | |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other liabilities | Other liabilities |
Stockholders' Equity and Accu_3
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) (Preferred Stock Issuances) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | 120 Months Ended | |||
Aug. 15, 2029 | Sep. 15, 2025 | Dec. 31, 2023 | Sep. 15, 2024 | Dec. 31, 2022 | |
Class of Stock [Line Items] | |||||
Preferred Stock, Liquidation Preference, Value | $ 1,750 | ||||
Preferred stock, shares issued | 1,403,500 | 1,403,500 | |||
Preferred stock, shares outstanding | 1,403,500 | ||||
Preferred Stock, Carrying Amount | $ 1,659 | $ 1,659 | |||
Series B Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Percentage | 6.375% | ||||
Preferred Stock, Liquidation Preference, Value | $ 500 | ||||
Preferred stock, liquidation preference per share | $ 1,000 | ||||
Preferred stock, shares issued | 500,000 | ||||
Preferred stock, shares outstanding | 500,000 | ||||
Preferred Stock, Carrying Amount | $ 433 | 433 | |||
Series C Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Percentage | 5.70% | ||||
Preferred Stock, Liquidation Preference, Value | $ 500 | ||||
Preferred stock, liquidation preference per share | $ 1,000 | ||||
Preferred stock, shares issued | 500,000 | ||||
Preferred stock, shares outstanding | 500,000 | ||||
Preferred Stock, Carrying Amount | $ 490 | 490 | |||
Series D Preferred Stock | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Percentage | 5.75% | ||||
Preferred Stock, Liquidation Preference, Value | $ 350 | ||||
Preferred stock, liquidation preference per share | $ 100,000 | ||||
Preferred stock, shares issued | 3,500 | ||||
Preferred stock, shares outstanding | 3,500 | ||||
Preferred Stock, Carrying Amount | $ 346 | 346 | |||
Series E Preferred Stock | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Percentage | 4.45% | ||||
Preferred Stock, Liquidation Preference, Value | $ 400 | ||||
Preferred stock, liquidation preference per share | $ 1,000 | ||||
Preferred stock, shares issued | 400,000 | ||||
Preferred stock, shares outstanding | 400,000 | ||||
Preferred Stock, Carrying Amount | $ 390 | $ 390 | |||
Scenario, Forecast | Series B Preferred Stock Dividend Scenario 1 [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Percentage | 6.375% | ||||
Scenario, Forecast | Series C Preferred Stock Dividend Scenario 1 Member [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Percentage | 5.70% | ||||
Scenario, Forecast | Series D Preferred Stock Dividend Scenario 1 Member [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Percentage | 5.75% | ||||
Plus 5-year Treasury rate [Member] | Scenario, Forecast | Series D Preferred Stock Dividend Scenario 2 Member [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Basis Spread on Variable Rate, Percentage | 5.426% | ||||
Plus 3-month CME Term SOFR | Scenario, Forecast | Series B Preferred Stock Dividend Scenario 2 [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Basis Spread on Variable Rate, Percentage | 3.536% | ||||
Plus 3-month CME Term SOFR | Scenario, Forecast | Series C Preferred Stock Dividend Scenario 2 Member [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred Stock, Dividend Rate, Basis Spread on Variable Rate, Percentage | 3.148% | ||||
Depositary Shares [Member] | Series B Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred stock, liquidation preference per share | $ 25 | ||||
Depositary Shares [Member] | Series C Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred stock, liquidation preference per share | 25 | ||||
Depositary Shares [Member] | Series D Preferred Stock | |||||
Class of Stock [Line Items] | |||||
Preferred stock, liquidation preference per share | 1,000 | ||||
Depositary Shares [Member] | Series E Preferred Stock | |||||
Class of Stock [Line Items] | |||||
Preferred stock, liquidation preference per share | $ 25 |
Stockholders' Equity and Accu_4
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss)(Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Pre-tax AOCI activity, Period Start | $ (4,481) | $ 387 | $ 1,759 |
Other Comprehensive Income (Loss), before Tax | 708 | (4,868) | (1,372) |
Pre-tax AOCI activity, Period End | (3,773) | (4,481) | 387 |
Tax Effect, period start | 1,138 | (98) | (444) |
Unrealized holding gains (losses) arising during the period on securities available for sale, Tax | (168) | 927 | 212 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 1 | 0 | (1) |
Other Comprehensive Income (Loss), Tax | (177) | 1,236 | 346 |
Tax Effect, period end | 961 | 1,138 | (98) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (3,343) | 289 | 1,315 |
Unrealized holding gains (losses) arising during the period on securities available for sale, net of tax | 501 | (2,725) | (629) |
Reclassification adjustments for securities gains (losses) realized in net income (net of tax) | (4) | (1) | 2 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | 505 | (2,724) | (631) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (124) | (866) | (265) |
Net change in unrealized gains (losses) on derivative instruments, net of tax | (970) | (583) | |
Other comprehensive income (loss), net of tax | 531 | (3,632) | (1,026) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (2,812) | (3,343) | 289 |
Net actuarial gains (losses) arising during the period (net of tax) | (61) | 33 | 134 |
Net actuarial gains and losses arising during the period, tax | (21) | 7 | 46 |
Accumulated Net Unrealized Loss on Held To Maturity Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Pre-tax AOCI activity, Period Start | (11) | (14) | (21) |
Other Comprehensive Loss, Held-to-maturity Security, Reclassification Adjustment from AOCI for Noncredit Portion of OTTI, before Tax | 2 | 3 | 7 |
Pre-tax AOCI activity, Period End | (9) | (11) | (14) |
Tax Effect, period start | 2 | 3 | 5 |
Reclassification adjustments for Amortization of Unrealized Losses on Securities Transferred to Held to Maturity, Tax | (1) | (1) | (2) |
Tax Effect, period end | 1 | 2 | 3 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (9) | (11) | (16) |
Reclassification adjustments for Amortization of Unrealized Losses on Securities Transferred to Held to Maturity (net of tax) | 1 | 2 | 5 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (8) | (9) | (11) |
Accumulated Net Unrealized Securities Available For Sale Gain (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Pre-tax AOCI activity, Period Start | (3,433) | 218 | 1,062 |
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax | 669 | (3,652) | (841) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 5 | 1 | (3) |
Other Comprehensive Income (Loss), before Tax | 674 | (3,651) | (844) |
Pre-tax AOCI activity, Period End | (2,759) | (3,433) | 218 |
Tax Effect, period start | 872 | (55) | (268) |
Unrealized holding gains (losses) arising during the period on securities available for sale, Tax | (168) | (927) | (212) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | (1) | 0 | 1 |
Other Comprehensive Income (Loss), Tax | (169) | 927 | 213 |
Tax Effect, period end | 703 | 872 | (55) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (2,561) | 163 | 794 |
Reclassification adjustments for securities gains (losses) realized in net income (net of tax) | 4 | 1 | (2) |
Other comprehensive income (loss), net of tax | 505 | (2,724) | |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (2,056) | (2,561) | 163 |
Accumulated Net Gain (Loss) from Derivative Instruments Designated as Cash Flow Hedges [Member] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Pre-tax AOCI activity, Period Start | (468) | 830 | 1,610 |
OCI, before Reclassifications, before Tax, Attributable to Parent | (167) | (1,158) | (354) |
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | (236) | 140 | 426 |
Other Comprehensive Income (Loss), before Tax | 69 | (1,298) | (780) |
Pre-tax AOCI activity, Period End | (399) | (468) | 830 |
Tax Effect, period start | 119 | (209) | (406) |
OCI, before reclassifications, tax, attributable to parent | 43 | 292 | 89 |
Reclassification from AOCI, Current Period, Tax | (60) | 36 | (108) |
Other Comprehensive Income (Loss), Tax | (17) | 328 | 197 |
Tax Effect, period end | 102 | 119 | (209) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (349) | 621 | 1,204 |
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | 176 | 104 | 318 |
Other comprehensive income (loss), net of tax | 52 | (970) | (583) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (297) | (349) | 621 |
Accumulated Defined Benefit Pension Plans Adjustment [Member] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Pre-tax AOCI activity, Period Start | (569) | (647) | (892) |
Net actuarial gains (losses) arising during the period, before tax | (82) | 40 | 180 |
Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income, before Tax | 45 | 38 | 65 |
Other Comprehensive Income (Loss), before Tax | (37) | 78 | 245 |
Pre-tax AOCI activity, Period End | (606) | (569) | (647) |
Tax Effect, period start | 145 | 163 | 225 |
Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income, Tax | (11) | (11) | (16) |
Other Comprehensive Income (Loss), Tax | 10 | (18) | (62) |
Tax Effect, period end | 155 | 145 | 163 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (424) | (484) | (667) |
Reclassification adjustments for amortization of actuarial (gains) losses and settlements realized in net income (net of tax) | 34 | 27 | 49 |
Other comprehensive income (loss), net of tax | (27) | 60 | 183 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (451) | (424) | (484) |
Net actuarial gains and losses arising during the period, tax | $ 21 | $ (7) | $ (46) |
Stockholders' Equity And Accu_5
Stockholders' Equity And Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | 20 Months Ended | |||||
Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | Dec. 31, 2023 USD ($) shares | Sep. 15, 2025 USD ($) | Sep. 15, 2024 USD ($) | Apr. 20, 2022 USD ($) | |
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||
Preferred stock dividends | $ 98 | $ 99 | $ 108 | ||||
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum | 0.025 | 0.025 | |||||
Stock Repurchase Program, Authorized Amount | $ 2,500 | ||||||
Stock Repurchased During Period, Value | $ 267 | ||||||
Cash dividend declared (in dollars per share) | $ / shares | $ 0.88 | $ 0.74 | $ 0.65 | ||||
Stock Repurchased During Period, Shares | shares | 17 | ||||||
Series B Preferred Stock [Member] | Subsequent Event [Member] | |||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 67 | ||||||
PreferredDividendsReductiontoRetainedEarningsatRedemption | 52 | ||||||
Series C Preferred Stock [Member] | Subsequent Event [Member] | |||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 10 | ||||||
Series D Preferred Stock | Subsequent Event [Member] | |||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 4 | ||||||
Series E Preferred Stock | Subsequent Event [Member] | |||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 10 | ||||||
us-gaap_SeriesAandBandCPreferredStockMember | |||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||
Preferred stock dividends | $ 98 | $ 99 |
Earnings (Loss) Per Common Sh_3
Earnings (Loss) Per Common Share (Computation Of Basic And Diluted Earnings (Loss) Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Numerator: | |||
Net income | $ 2,074 | $ 2,245 | $ 2,521 |
Preferred stock dividends and other (1) | (98) | (99) | (121) |
Net income available to common shareholders | $ 1,976 | $ 2,146 | $ 2,400 |
Denominator: | |||
Weighted-average common shares outstanding—basic | 936 | 935 | 956 |
Potential common shares | 2 | 7 | 7 |
Weighted-average common shares outstanding—diluted | 938 | 942 | 963 |
Earnings per common share: | |||
Basic | $ 2.11 | $ 2.29 | $ 2.51 |
Diluted | $ 2.11 | $ 2.28 | $ 2.49 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 6 | 4 | |
Series A Preferred Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
PreferredStockIssuanceCostsReductiontoNetIncome | $ 13 |
Share-Based Payments (Summary O
Share-Based Payments (Summary Of Compensation Costs Recognized In The Consolidated Statements of Operations) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Tax benefits related to compensation cost | $ (16) | $ (15) | $ (14) |
Allocated Share-based Compensation Expense, Net of Tax | 45 | 45 | 43 |
Restricted Stock Awards [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Allocated Share-Based Compensation Expense | $ 61 | $ 60 | $ 57 |
Share-Based Payments (Summary_2
Share-Based Payments (Summary Of Restricted Stock Awards And Performance Stock Awards Activity) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Number of Shares, Non-vested at beginning of period (in dollars per share) | 10,163,763 | 11,206,894 | 11,682,160 |
Number of Shares, Granted (in shares) | 3,943,474 | 2,831,304 | 2,984,065 |
Number of Shares, Vested (in shares) | (5,844,477) | (3,543,152) | (3,227,513) |
Number of Shares, Forfeited (in shares) | (262,719) | (331,283) | (231,818) |
Number of Shares, Non-vested at end of period (in dollars per share) | 8,000,041 | 10,163,763 | 11,206,894 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Weighted-Average Grant Date Fair Value, Non-vested at beginning of period | $ 15.23 | $ 13.39 | $ 12.14 |
Weighted-Average Grant Date Fair Value, Granted | 17.54 | 21.39 | 21.18 |
Weighted-Average Grant Date Fair Value, Vested | 10.25 | 14.24 | 15.91 |
Weighted-Average Grant Date Fair Value, Forfeited | 18.08 | 14.73 | 13.24 |
Weighted-Average Grant Date Fair Value, Non-vested at end of period | $ 19.90 | $ 15.23 | $ 13.39 |
Share-Based Payments (Narrative
Share-Based Payments (Narrative) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Apr. 23, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
Contractual lives of options granted under long-term incentive compensation plans | 10 years | |||
Number of Common Share Equivalents Authorized Under Long-term Incentive Plans | 60,000,000 | |||
Number of Remaining Common Share Equivalents Available for Grant Under Long-term Incentive Plans | 24,000,000 | |||
Pre Tax Amount Of Non Vested Stock Options And Restricted Stock Awards And Units Not Yet Recognized | $ 60,000,000 | |||
Non-vested awards, compensation cost not yet recognized, weighted-average period for recognition | 1 year 8 months 4 days | |||
Total fair value of shares vested during the period | $ 109,000,000 | $ 76,000,000 | $ 75,000,000 | |
Performance Shares | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
Performance period (in years) | 3 years | |||
Restricted Stock Units (RSUs) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years |
Employee Benefit Plans (Schedul
Employee Benefit Plans (Schedule of Defined Benefit Plans Disclosures) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Change in Benefit Obligation [Roll Forward] | |||
Projected Benefit Obligation, Beginning of Period | $ 1,750,000,000 | $ 2,437,000,000 | |
Service cost | 22,000,000 | 36,000,000 | $ 41,000,000 |
Interest cost | 92,000,000 | 59,000,000 | 51,000,000 |
Actuarial Gains (Losses) | 63,000,000 | (585,000,000) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (140,000,000) | (116,000,000) | |
Administration Expenses | (3,000,000) | (3,000,000) | |
Plan Settlements | (58,000,000) | (78,000,000) | |
Projected Benefit Obligation, End of Period | 1,726,000,000 | 1,750,000,000 | 2,437,000,000 |
Change in Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets, beginning of period | 1,970,000,000 | 2,554,000,000 | |
Actual Return on Plan Assets | (101,000,000) | 404,000,000 | |
Company Contributions | 66,000,000 | 17,000,000 | |
Defined Benefit Plan, Plan Assets, Benefits Paid | (140,000,000) | (116,000,000) | |
Administration Expenses | (3,000,000) | (3,000,000) | |
Plan Settlements | (58,000,000) | (78,000,000) | |
Fair Value of Plan Assets, end of period | 1,936,000,000 | 1,970,000,000 | 2,554,000,000 |
Funded Status and Accrued Benefit Cost at Measurement Date | 210,000,000 | 220,000,000 | |
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | 210,000,000 | 220,000,000 | |
Pre-tax amounts recognized in Accumulated Other Comprehensive (Income) Loss: | |||
Net actuarial loss | 609,000,000 | 573,000,000 | |
Qualified Plan [Member] | Pension Plan [Member] | |||
Change in Benefit Obligation [Roll Forward] | |||
Projected Benefit Obligation, Beginning of Period | 1,623,000,000 | 2,281,000,000 | |
Service cost | 21,000,000 | 34,000,000 | 38,000,000 |
Interest cost | 86,000,000 | 56,000,000 | 49,000,000 |
Actuarial Gains (Losses) | 49,000,000 | (568,000,000) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (132,000,000) | (108,000,000) | |
Administration Expenses | (3,000,000) | (3,000,000) | |
Plan Settlements | 0 | (69,000,000) | |
Projected Benefit Obligation, End of Period | 1,644,000,000 | 1,623,000,000 | 2,281,000,000 |
Change in Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets, beginning of period | 1,970,000,000 | 2,554,000,000 | |
Actual Return on Plan Assets | (101,000,000) | 404,000,000 | |
Company Contributions | 0 | 0 | |
Defined Benefit Plan, Plan Assets, Benefits Paid | (132,000,000) | (108,000,000) | |
Administration Expenses | (3,000,000) | (3,000,000) | |
Plan Settlements | 0 | (69,000,000) | |
Fair Value of Plan Assets, end of period | 1,936,000,000 | 1,970,000,000 | 2,554,000,000 |
Funded Status and Accrued Benefit Cost at Measurement Date | 292,000,000 | 347,000,000 | |
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | 292,000,000 | 347,000,000 | |
Pre-tax amounts recognized in Accumulated Other Comprehensive (Income) Loss: | |||
Net actuarial loss | 580,000,000 | 537,000,000 | |
Nonqualified Plan [Member] | Supplemental Employee Retirement Plan [Member] | |||
Change in Benefit Obligation [Roll Forward] | |||
Projected Benefit Obligation, Beginning of Period | 127,000,000 | 156,000,000 | |
Service cost | 1,000,000 | 2,000,000 | 3,000,000 |
Interest cost | 6,000,000 | 3,000,000 | 2,000,000 |
Actuarial Gains (Losses) | 14,000,000 | (17,000,000) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (8,000,000) | (8,000,000) | |
Administration Expenses | 0 | 0 | |
Plan Settlements | (58,000,000) | (9,000,000) | |
Projected Benefit Obligation, End of Period | 82,000,000 | 127,000,000 | 156,000,000 |
Change in Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets, beginning of period | 0 | 0 | |
Actual Return on Plan Assets | 0 | 0 | |
Company Contributions | 66,000,000 | 17,000,000 | |
Defined Benefit Plan, Plan Assets, Benefits Paid | (8,000,000) | (8,000,000) | |
Administration Expenses | 0 | 0 | |
Plan Settlements | (58,000,000) | (9,000,000) | |
Fair Value of Plan Assets, end of period | 0 | 0 | $ 0 |
Funded Status and Accrued Benefit Cost at Measurement Date | (82,000,000) | (127,000,000) | |
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | (82,000,000) | (127,000,000) | |
Pre-tax amounts recognized in Accumulated Other Comprehensive (Income) Loss: | |||
Net actuarial loss | 29,000,000 | 36,000,000 | |
Other Assets [Member] | |||
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | 292,000,000 | 347,000,000 | |
Other Assets [Member] | Qualified Plan [Member] | Pension Plan [Member] | |||
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | 292,000,000 | 347,000,000 | |
Other Assets [Member] | Nonqualified Plan [Member] | Supplemental Employee Retirement Plan [Member] | |||
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | 0 | 0 | |
Other Liabilities [Member] | |||
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | (82,000,000) | (127,000,000) | |
Other Liabilities [Member] | Qualified Plan [Member] | Pension Plan [Member] | |||
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | 0 | 0 | |
Other Liabilities [Member] | Nonqualified Plan [Member] | Supplemental Employee Retirement Plan [Member] | |||
Amount recognized in the Consolidated Balance Sheets: | |||
Other assets (liabilities) | $ (82,000,000) | $ (127,000,000) |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components Of Net Periodic Pension Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 22 | $ 36 | $ 41 |
Interest cost | 92 | 59 | 51 |
Expected return on plan assets | (120) | (139) | (142) |
Amortization of actuarial loss | 28 | 32 | 54 |
Settlement charge | 17 | 6 | 11 |
Net periodic pension (benefit) cost | 39 | (6) | 15 |
Qualified Plan [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 21 | 34 | 38 |
Interest cost | 86 | 56 | 49 |
Expected return on plan assets | (120) | (139) | (142) |
Amortization of actuarial loss | 24 | 25 | 46 |
Settlement charge | 0 | 4 | 0 |
Net periodic pension (benefit) cost | 11 | (20) | (9) |
Nonqualified Plan [Member] | Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 1 | 2 | 3 |
Interest cost | 6 | 3 | 2 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of actuarial loss | 4 | 7 | 8 |
Settlement charge | 17 | 2 | 11 |
Net periodic pension (benefit) cost | $ 28 | $ 14 | $ 24 |
Employee Benefit Plans (Sched_2
Employee Benefit Plans (Schedule of Assumptions Used) (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Qualified Plan [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for benefit obligation | 5.15% | 5.42% | |
Rate of annual compensation increase, benefit obligation | 4% | 4% | |
Discount rate for net periodic benefit cost | 5.42% | 2.85% | 2.48% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 6.37% | 5.62% | 5.87% |
Rate of annual compensation increase, net periodic benefit cost | 4% | 4% | 4% |
Nonqualified Plan [Member] | Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for benefit obligation | 5.08% | 5.38% | |
Rate of annual compensation increase, benefit obligation | 3% | 3% | |
Discount rate for net periodic benefit cost | 5.42% | 2.72% | 2.20% |
Rate of annual compensation increase, net periodic benefit cost | 3% | 3% | 3% |
Employee Benefit Plans (Present
Employee Benefit Plans (Presentation Of The Fair Value Of Regions' Qualified Defined-Benefit Pension Plans' Financial Assets) (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | $ 1,936,000,000 | $ 1,970,000,000 | $ 2,554,000,000 |
Defined Benefit Plan, Common Collective Trust | Fixed Income Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Assets, Fair Value | 111,000,000 | 340,000,000 | |
Defined Benefit Plan, Common Collective Trust | International Fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Assets, Fair Value | 117,000,000 | 40,000,000 | |
Defined Benefit Plan, Common Collective Trust | Equity Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Assets, Fair Value | 119,000,000 | 168,000,000 | |
Collective Investment Trust Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Assets, Fair Value | 347,000,000 | 548,000,000 | |
Fair Value Measured at Net Asset Value Per Share | Real Estate Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Assets, Fair Value | 144,000,000 | 177,000,000 | |
Fair Value Measured at Net Asset Value Per Share | Private Equity Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Assets, Fair Value | 167,000,000 | 172,000,000 | |
Estimate of Fair Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 1,278,000,000 | 1,073,000,000 | |
Estimate of Fair Value [Member] | Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 74,000,000 | 34,000,000 | |
Estimate of Fair Value [Member] | Fixed Income Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 969,000,000 | 649,000,000 | |
Estimate of Fair Value [Member] | Fixed Income Securities [Member] | US Treasury and Government [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 359,000,000 | 280,000,000 | |
Estimate of Fair Value [Member] | Fixed Income Securities [Member] | Federal Agency Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 7,000,000 | 15,000,000 | |
Estimate of Fair Value [Member] | Fixed Income Securities [Member] | Corporate Bond Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 603,000,000 | 354,000,000 | |
Estimate of Fair Value [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 132,000,000 | 265,000,000 | |
Estimate of Fair Value [Member] | Equity Securities [Member] | Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 132,000,000 | 135,000,000 | |
Estimate of Fair Value [Member] | Equity Securities [Member] | International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 130,000,000 | |
Estimate of Fair Value [Member] | Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 103,000,000 | 125,000,000 | |
Estimate of Fair Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 668,000,000 | 704,000,000 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 74,000,000 | 34,000,000 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Fixed Income Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 359,000,000 | 280,000,000 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Fixed Income Securities [Member] | US Treasury and Government [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 359,000,000 | 280,000,000 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Fixed Income Securities [Member] | Federal Agency Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Fixed Income Securities [Member] | Corporate Bond Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 132,000,000 | 265,000,000 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Equity Securities [Member] | Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 132,000,000 | 135,000,000 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Equity Securities [Member] | International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 130,000,000 | |
Estimate of Fair Value [Member] | Level 1 [Member] | Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 103,000,000 | 125,000,000 | |
Estimate of Fair Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 610,000,000 | 369,000,000 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Fixed Income Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 610,000,000 | 369,000,000 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Fixed Income Securities [Member] | US Treasury and Government [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Fixed Income Securities [Member] | Federal Agency Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 7,000,000 | 15,000,000 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Fixed Income Securities [Member] | Corporate Bond Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 603,000,000 | 354,000,000 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Equity Securities [Member] | Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Equity Securities [Member] | International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 2 [Member] | Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Fixed Income Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Fixed Income Securities [Member] | US Treasury and Government [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Fixed Income Securities [Member] | Federal Agency Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Fixed Income Securities [Member] | Corporate Bond Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Equity Securities [Member] | Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Equity Securities [Member] | International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Estimate of Fair Value [Member] | Level 3 [Member] | Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | $ 0 | $ 0 |
Employee Benefit Plans (Informa
Employee Benefit Plans (Information About The Expected Cash Flows For The Qualified and Non-Qualified Pension Plans) (Details) | Dec. 31, 2023 USD ($) |
Qualified Plan [Member] | Pension Plan [Member] | |
Defined Benefit Plan, Expected Future Employer Contributions [Abstract] | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 0 |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | 122,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 124,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 125,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 127,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 126,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter | 602,000,000 |
Nonqualified Plan [Member] | Supplemental Employee Retirement Plan [Member] | |
Defined Benefit Plan, Expected Future Employer Contributions [Abstract] | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 9,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | 9,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 9,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 10,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 9,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 9,000,000 |
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter | $ 35,000,000 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2023 USD ($) decimal shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Minimum Years Of Service For Eligible Employees Of Postretirement Plans | 1 year | ||
Minimum Number Of Hours Worked By Employees | decimal | 1,000 | ||
Automatic Cash Contribution | 2% | 2% | 2% |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 24,000,000 | $ 22,000,000 | |
Defined Contribution Plan, Cost | 72,000,000 | $ 67,000,000 | 63,000,000 |
Total Company Common Stock Shares Held Under Defined Contribution Plan | shares | 16,000,000 | ||
Dividends Earned By Defined Contribution Plan | $ 13,000,000 | $ 12,000,000 | $ 11,000,000 |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 5% | 5% | 5% |
Qualified Plan [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 1,600,000,000 | $ 1,500,000,000 | |
Expected long-term rate of return on plan assets for net periodic benefit cost, next fiscal year | 6.37% | ||
Number of shares held in plan assets relating to company's common stock (whole number) | shares | 2,855,618 | ||
Approximate percentage of company's common stock shares held in plan assets | 3% | ||
Qualified Plan [Member] | Equity Securities [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation For Defined Benefit Plan Equity Securities | 33% | ||
Qualified Plan [Member] | Fixed Income Securities [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation For Defined Benefit Plan Equity Securities | 62% | ||
Qualified Plan [Member] | Other Security Investments [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation For Defined Benefit Plan Equity Securities | 5% | ||
Qualified Plan [Member] | Defined Benefit Plan, Equity Securities, Common Stock, Employer, Related Party [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Market Value Of Companys Common Stock Held In Plan Assets | $ 55,000,000 | ||
Nonqualified Plan [Member] | Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 82,000,000 | $ 127,000,000 |
Other Non-Interest Income and_3
Other Non-Interest Income and Expense (Other Non-Interest Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Bank Owned Life Insurance Income | $ 78 | $ 62 | $ 82 |
Investment Services Fee Income | 138 | 122 | 104 |
Commercial Credit Fee Income | 105 | 96 | 91 |
Market value adjustments on employee benefit assets - other | 15 | (45) | 20 |
Insurance proceeds | 0 | 50 | 0 |
Unrealized Gain (Loss) on Investments | 0 | 0 | 3 |
Other Miscellaneous Income | 185 | 199 | 223 |
Total Noninterest Income | 2,256 | 2,429 | 2,524 |
Other [Member] | |||
Total Noninterest Income | $ 521 | $ 484 | $ 523 |
Other Non-Interest Income and_4
Other Non-Interest Income and Expense (Other Non-Interest Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other Income and Expenses [Abstract] | |||
Outside Services | $ 163 | $ 157 | $ 156 |
Marketing Expense | 110 | 102 | 106 |
Professional, legal and regulatory expenses | 85 | 263 | 98 |
Credit and checkcard expense | 60 | 66 | 62 |
FDIC insurance assessments | 228 | 61 | 45 |
Operating Income (Loss) | 212 | 56 | 46 |
Branch Consolidation And Property and Equipment Charges | 7 | 3 | 5 |
Visa class B shares expense | 28 | 24 | 22 |
Early extinguishment of debt | (4) | 0 | 20 |
Other Miscellaneous Expenses | 410 | 326 | 314 |
Other | $ 1,299 | $ 1,058 | $ 874 |
Income Taxes (Components Of Inc
Income Taxes (Components Of Income Tax (Benefit) Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Federal Tax Expense (Benefit) | $ 417 | $ 493 | $ 456 |
Current State and Local Tax Expense (Benefit) | 84 | 116 | 73 |
Current Income Tax Expense (Benefit) | 501 | 609 | 529 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred Federal Income Tax Expense (Benefit) | 25 | 26 | 132 |
Deferred State and Local Income Tax Expense (Benefit) | 7 | (4) | 33 |
Deferred income tax expense (benefit) | 32 | 22 | 165 |
Income tax expense | $ 533 | $ 631 | $ 694 |
Income Taxes (Income Tax Rate R
Income Taxes (Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income Taxes [Abstract] | |||
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $ 547 | $ 604 | $ 675 |
Effective Income Tax Rate, Continuing Operations | 20.50% | 22% | 21.60% |
Increase (decrease) in taxes resulting from: [Abstract] | |||
State income tax, net of federal tax effect | $ 72 | $ 88 | $ 83 |
Non-deductible expenses | 33 | 34 | 18 |
Tax-exempt interest | (38) | (33) | (30) |
Affordable housing investment amortization, net of tax benefits (excluding Tax Reform) | (42) | (32) | (25) |
Bank-owned life insurance | (19) | (16) | (20) |
Other, net | (20) | (14) | (7) |
Income tax expense | $ 533 | $ 631 | $ 694 |
Income Taxes (Summary Of Signif
Income Taxes (Summary Of Significant Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred Tax Assets [Abstract] | ||
Unrealized losses included in shareholders' equity | $ 961 | $ 1,138 |
Allowance for loan losses | 430 | 401 |
Deferred tax asset, right of use liability | 129 | 136 |
Accrued expenses | 87 | 61 |
Other | 20 | 47 |
State net operating carryforwards, net of federal tax effect | 31 | 40 |
Total deferred tax assets | 1,658 | 1,823 |
Deferred Tax Assets, Valuation Allowance | (21) | (21) |
Total deferred tax assets less valuation allowance | 1,637 | 1,802 |
Deferred Tax Liabilities [Abstract] | ||
Lease financing | 439 | 403 |
Deferred Tax Liabilities, Right of use asset | 121 | 128 |
Mortgage servicing rights | 95 | 122 |
Goodwill and intangibles | 112 | 103 |
Fixed assets | 30 | 52 |
Employee benefits and deferred compensation | 37 | 29 |
Other | 62 | 22 |
Total deferred tax liabilities | 896 | 859 |
Deferred Tax Assets, Net | 741 | 943 |
Income Tax Contingency [Line Items] | ||
State net operating carryforwards, net of federal tax effect | $ 31 | $ 40 |
Income Taxes (Summary Of Detail
Income Taxes (Summary Of Detail Of Tax Carryforwards) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Income Tax Contingency [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $ 31 | $ 40 |
Operating Loss Carryforwards, Valuation Allowance | (19) | (21) |
Deferred Tax Assets, Net of Valuation Allowance | 1,637 | $ 1,802 |
Total Net Operating Losses [Member] | ||
Income Tax Contingency [Line Items] | ||
Deferred Tax Assets, Net of Valuation Allowance | 12 | |
Net Operating Losses Federal Date Range 2 | ||
Income Tax Contingency [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 9 | |
Operating Loss Carryforwards, Valuation Allowance | 0 | |
Deferred Tax Assets, Net of Valuation Allowance | 9 | |
Net Operating Losses States Date Range One [Member] | ||
Income Tax Contingency [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 13 | |
Operating Loss Carryforwards, Valuation Allowance | (13) | |
Deferred Tax Assets, Net of Valuation Allowance | 0 | |
Net Operating Losses States Date Range Two [Member] | ||
Income Tax Contingency [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 3 | |
Operating Loss Carryforwards, Valuation Allowance | (2) | |
Deferred Tax Assets, Net of Valuation Allowance | 1 | |
Net Operating Losses States Date Range Three [Member] | ||
Income Tax Contingency [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 3 | |
Operating Loss Carryforwards, Valuation Allowance | (2) | |
Deferred Tax Assets, Net of Valuation Allowance | 1 | |
Other Credits States Date Range One [Member] | ||
Income Tax Contingency [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 3 | |
Operating Loss Carryforwards, Valuation Allowance | (2) | |
Deferred Tax Assets, Net of Valuation Allowance | $ 1 |
Income Taxes (Reconciliation Of
Income Taxes (Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at beginning of year | $ 8 | $ 9 | $ 12 |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 3 | 0 | 0 |
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | 0 | 0 | (2) |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | 0 | (1) | (1) |
Balance at end of year | $ 11 | $ 8 | $ 9 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income Taxes [Abstract] | |||
Investment Tax Credit | $ 94 | $ 67 | $ 64 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 21% | 21% | 21% |
Tax Adjustments, Settlements, and Unusual Provisions | $ 166 | $ 149 | $ 139 |
Deferred Tax Assets, Valuation Allowance | (21) | (21) | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 11 | 8 | $ 7 |
Operating Loss Carryforwards, Valuation Allowance | $ 19 | $ 21 |
Derivative Financial Instrume_3
Derivative Financial Instruments And Hedging Activities (Schedule Of Derivative Instruments Notional And Fair Values) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $ 160,576 | $ 151,907 |
Estimated Fair Value, Gain | 2,105 | 2,609 |
Estimated Fair Value, Loss | 2,691 | 3,378 |
Derivative Asset, Fair Value of Derivative Contracts Offset in Accordance with Entity's Policy that were Offset Under Master Netting Agreements | 2,029 | 2,504 |
Derivative Liability, Fair Value of Derivative Contracts Offset In Accordance with Policy Election that were Offset Under Master Netting Agreements | 1,560 | 1,925 |
Derivative Asset | 76 | 105 |
Derivative Liability | 1,131 | 1,453 |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 243 | 185 |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 43 | 90 |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 34,525 | 32,023 |
Estimated Fair Value, Gain | 65 | 20 |
Estimated Fair Value, Loss | 714 | 826 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 126,051 | 119,884 |
Estimated Fair Value, Gain | 2,040 | 2,589 |
Estimated Fair Value, Loss | 1,977 | 2,552 |
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 99,892 | 94,220 |
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Gain | 1,769 | 2,315 |
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Loss | 1,718 | 2,335 |
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 13,497 | 12,506 |
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Gain | 66 | 94 |
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Loss | 57 | 85 |
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 655 | 985 |
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Gain | 7 | 8 |
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Loss | 12 | 5 |
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 12,007 | 12,173 |
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Gain | 198 | 172 |
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Loss | 190 | 127 |
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 2,975 | 1,423 |
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Gain | 1 | 1 |
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Loss | 121 | 158 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 31,550 | 30,600 |
Estimated Fair Value, Gain | 64 | 19 |
Estimated Fair Value, Loss | 593 | 668 |
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 29,550 | 30,600 |
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Gain | 43 | 19 |
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Loss | 580 | 668 |
Cash Flow Hedging [Member] | Interest Rate Options [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 2,000 | 0 |
Cash Flow Hedging [Member] | Interest Rate Options [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Gain | 21 | 0 |
Cash Flow Hedging [Member] | Interest Rate Options [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Estimated Fair Value, Loss | $ 13 | $ 0 |
Derivative Financial Instrume_4
Derivative Financial Instruments And Hedging Activities (Schedule Of The Effect Of Derivative Instruments On The Statements Of Operations) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Debt securities | $ 749 | $ 688 | $ 533 |
Loans, including fees | 5,733 | 4,088 | 3,452 |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Taxable Debt Securities in Interest Income [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amounts Related to Interest Settlements on Derivatives | (1) | 41 | |
Gain or (Loss) Recognized in Income on Derivatives | (6) | 0 | |
Gain or (Loss) Recognized in Income on Related Hedged Item | 6 | 0 | |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (1) | 41 | |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Loans Including Fees in Interest Income [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amounts Related to Interest Settlements on Derivatives | 0 | 0 | 0 |
Gain or (Loss) Recognized in Income on Derivatives | 0 | 0 | 0 |
Gain or (Loss) Recognized in Income on Related Hedged Item | 0 | 0 | 0 |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | 0 | 0 |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Long-term Borrowings In Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amounts Related to Interest Settlements on Derivatives | (64) | (16) | 19 |
Gain or (Loss) Recognized in Income on Derivatives | 46 | (124) | (51) |
Gain or (Loss) Recognized in Income on Related Hedged Item | (46) | 124 | 51 |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (64) | (16) | 19 |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Taxable Debt Securities in Interest Income [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain or (Loss) Reclassified from AOCI into Income | 0 | 0 | |
Net Income (Expense) Recognized on Cash Flow Hedges | 0 | 0 | |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Loans Including Fees in Interest Income [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain or (Loss) Reclassified from AOCI into Income | (236) | 140 | 426 |
Net Income (Expense) Recognized on Cash Flow Hedges | (236) | 140 | 426 |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Long-term Borrowings In Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain or (Loss) Reclassified from AOCI into Income | 0 | 0 | 0 |
Net Income (Expense) Recognized on Cash Flow Hedges | $ 0 | $ 0 | $ 0 |
Derivative Financial Instrume_5
Derivative Financial Instruments and Hedging Activities Derivative Financial Instruments and Hedging Activities (Schedule of Fair Value Hedging Basis Adjustments) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Financial Asset, Closed Portfolio, Portfolio Layer Method, Amortized Cost | $ 1,300 | |
Hedged Asset, Fair Value Hedge, Last-of-Layer, Amount | 1,000 | |
Designated as Hedging Instrument [Member] | Debt Available-for-Sale Securities [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Asset, Fair Value Hedge | 1,653 | $ 23 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 5 | 0 |
Designated as Hedging Instrument [Member] | Long-term Debt [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Liability, Fair Value Hedge | (1,286) | (1,239) |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | (112) | (158) |
Designated as Hedging Instrument [Member] | Deposits | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Liability, Fair Value Hedge | (252) | 0 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | $ 0 | $ 0 |
Derivative Financial Instrume_6
Derivative Financial Instruments And Hedging Activities (Schedule Of Gains (Losses) Recognized Related To Derivatives Not Designated As Hedging Instruments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | $ 26 | $ 16 | $ 29 |
Mortgage Income [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (23) | (136) | 64 |
Mortgage Income [Member] | Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (14) | (118) | (45) |
Mortgage Income [Member] | Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 1 | (14) | (32) |
Mortgage Income [Member] | Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (10) | (4) | 13 |
Capital markets income [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 49 | 152 | 93 |
Capital markets income [Member] | Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (17) | 108 | 46 |
Capital markets income [Member] | Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 42 | 23 | 28 |
Capital markets income [Member] | Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 13 | 10 | 15 |
Capital markets income [Member] | Other Contracts [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | $ 11 | $ 11 | $ 4 |
Derivative Financial Instrume_7
Derivative Financial Instruments And Hedging Activities (Narrative) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
AOCI before Tax, Attributable to Parent | $ (3,773,000,000) | $ (4,481,000,000) | $ 387,000,000 | $ 1,759,000,000 |
Accumulated Other Comprehensive Income related to discontinued cash flow hedges, before tax | 90,000,000 | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | (309,000,000) | |||
Pre-tax net income related to amortization of discontinued cash flow hedges | 61,000,000 | |||
Derivative, Notional Amount | 160,576,000,000 | 151,907,000,000 | ||
Maximum potential future exposure on swap participations | 418,000,000 | |||
Aggregate fair value of all derivative instruments with credit risk | 29,000,000 | 17,000,000 | ||
Posted collateral related to derivative instruments with credit risk | 32,000,000 | 20,000,000 | ||
Accumulated Net Gain (Loss) from Derivative Instruments Designated as Cash Flow Hedges [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
AOCI before Tax, Attributable to Parent | (399,000,000) | (468,000,000) | $ 830,000,000 | $ 1,610,000,000 |
Not Designated as Hedging Instrument [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Derivative, Notional Amount | 126,051,000,000 | 119,884,000,000 | ||
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Derivative, Notional Amount | 124,000,000 | 118,000,000 | ||
Forward Sale Commitments [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Derivative, Notional Amount | 267,000,000 | 233,000,000 | ||
Forward Rate Commitments and Futures Contracts [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Derivative, Notional Amount | $ 3,300,000,000 | $ 3,400,000,000 |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Assets And Liabilities At Fair Value Measured On A Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | $ 28,104 | $ 27,933 |
Residential mortgage servicing rights | 906 | 812 |
Derivative Assets | 76 | 105 |
Derivative Liabilities | 1,131 | 1,453 |
Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 28,104 | 27,933 |
Loans held for sale | 201 | 196 |
Marketable Equity Securities carried at fair value | 813 | 529 |
Residential mortgage servicing rights | 906 | 812 |
Derivative Assets | 2,105 | 2,609 |
Derivative Liabilities | 2,691 | 3,378 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,223 | 1,187 |
Loans held for sale | 0 | 0 |
Derivative Assets | 0 | 3 |
Derivative Liabilities | 0 | 2 |
Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,223 | 1,187 |
Loans held for sale | 0 | 0 |
Marketable Equity Securities carried at fair value | 813 | 529 |
Residential mortgage servicing rights | 0 | 0 |
Derivative Assets | 0 | 3 |
Derivative Liabilities | 0 | 2 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 26,880 | 26,744 |
Loans held for sale | 397 | 335 |
Derivative Assets | 2,101 | 2,603 |
Derivative Liabilities | 2,690 | 3,375 |
Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 26,880 | 26,744 |
Loans held for sale | 201 | 177 |
Marketable Equity Securities carried at fair value | 0 | 0 |
Residential mortgage servicing rights | 0 | 0 |
Derivative Assets | 2,101 | 2,603 |
Derivative Liabilities | 2,690 | 3,375 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1 | 2 |
Loans held for sale | 3 | 19 |
Derivative Assets | 4 | 3 |
Derivative Liabilities | 1 | 1 |
Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1 | 2 |
Loans held for sale | 0 | 19 |
Marketable Equity Securities carried at fair value | 0 | 0 |
Residential mortgage servicing rights | 906 | 812 |
Derivative Assets | 4 | 3 |
Derivative Liabilities | 1 | 1 |
Interest Rate Swaps [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 1,813 | 2,335 |
Derivative Liabilities | 2,419 | 3,161 |
Interest Rate Swaps [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Interest Rate Swaps [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 1,813 | 2,335 |
Derivative Liabilities | 2,419 | 3,161 |
Interest Rate Swaps [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Interest Rate Options [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 87 | 94 |
Derivative Liabilities | 70 | 85 |
Interest Rate Options [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Interest Rate Options [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 83 | 91 |
Derivative Liabilities | 70 | 85 |
Interest Rate Options [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 4 | 3 |
Derivative Liabilities | 0 | 0 |
Interest Rate Futures And Forward Commitments [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 7 | 8 |
Derivative Liabilities | 12 | 5 |
Interest Rate Futures And Forward Commitments [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Interest Rate Futures And Forward Commitments [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 7 | 8 |
Derivative Liabilities | 12 | 5 |
Interest Rate Futures And Forward Commitments [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Other Contracts [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 198 | 172 |
Derivative Liabilities | 190 | 127 |
Other Contracts [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 0 | 3 |
Derivative Liabilities | 0 | 2 |
Other Contracts [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 198 | 169 |
Derivative Liabilities | 189 | 124 |
Other Contracts [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities | 1 | 1 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,223 | 1,187 |
US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,223 | 1,187 |
US Treasury Securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,223 | 1,187 |
US Treasury Securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
US Treasury Securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Federal agency securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,043 | 836 |
Federal agency securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,043 | 836 |
Federal agency securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Federal agency securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,043 | 836 |
Federal agency securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
US States and Political Subdivisions Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 2 | 2 |
US States and Political Subdivisions Debt Securities | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 2 | 2 |
US States and Political Subdivisions Debt Securities | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
US States and Political Subdivisions Debt Securities | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 2 | 2 |
US States and Political Subdivisions Debt Securities | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Residential Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 17,372 | 16,954 |
Residential Agency [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 17,372 | 16,954 |
Residential Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Residential Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 17,372 | 16,954 |
Residential Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Residential Non-Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1 | |
Residential Non-Agency [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 1 |
Residential Non-Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Residential Non-Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Residential Non-Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 1 |
Commercial Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 7,307 | 7,613 |
Commercial Agency [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 7,307 | 7,613 |
Commercial Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Commercial Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 7,307 | 7,613 |
Commercial Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Commercial Non Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 83 | 186 |
Commercial Non Agency [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 83 | 186 |
Commercial Non Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Commercial Non Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 83 | 186 |
Commercial Non Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Corporate and other debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,074 | 1,154 |
Corporate and other debt securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,074 | 1,154 |
Corporate and other debt securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 0 | 0 |
Corporate and other debt securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 1,073 | 1,153 |
Corporate and other debt securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | $ 1 | $ 1 |
Fair Value Measurements (Summar
Fair Value Measurements (Summary Of Quantitative Information About Level 3 Fair Value Measurements) (Details) - Discounted Cash Flow [Member] - Residential Mortgage [Member] $ in Millions | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Level 3 [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets, Fair Value Disclosure | $ 906 | $ 812 |
Recurring Fair Value Measurements [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Weighted Average CPR | 0.056 | 0.061 |
Option-Adjusted Spread | 4.50% | 4.80% |
Recurring Fair Value Measurements [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Weighted Average CPR | 0.215 | 0.151 |
Option-Adjusted Spread | 8.20% | 8.20% |
Recurring Fair Value Measurements [Member] | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Weighted Average CPR | 0.082 | 0.074 |
Option-Adjusted Spread | 4.80% | 5.10% |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Option, Fair Value and Unpaid Principal Balance) (Details) - Mortgage loans held for sale [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Held for Sale | $ 184 | $ 160 |
Fair Value Option Mortgages Held For Sale Aggregate Unpaid Principal | 177 | 157 |
Net gains (losses) resulting from changes in fair value | $ 3 | $ (17) |
Fair Value Measurements (Sche_2
Fair Value Measurements (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Financial Assets | ||
Debt securities held to maturity | $ 716 | $ 751 |
Debt securities available for sale | 28,104 | 27,933 |
Other earning assets | 1,417 | 1,308 |
Derivative Assets | 76 | 105 |
Financial Liabilities | ||
Derivative Liabilities | 1,131 | 1,453 |
Fair value Discount On Loan Portfolio Amount | $ (3,800) | $ (4,500) |
Fair value Discount On Loan Portfolio Rate | 4% | 4.80% |
Capital Leases Carrying Amount Excluded | $ 1,700 | $ 1,500 |
Carrying Amount [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 6,801 | 11,227 |
Debt securities held to maturity | 754 | 801 |
Debt securities available for sale | 28,104 | 27,933 |
Loans held for sale | 400 | 354 |
Loans (excluding leases), net of unearned income and allowance for loan losses | 95,141 | 94,044 |
Other earning assets | 1,417 | 1,308 |
Derivative Assets | 2,105 | 2,609 |
Financial Liabilities | ||
Derivative Liabilities | 2,691 | 3,378 |
Deposits with no stated maturity, Fair Value Disclosure | 112,816 | 125,971 |
Time deposits. fair value disclosure | 14,972 | 5,772 |
Long-term Borrowings | 2,330 | 2,284 |
Loan commitments and letters of credit | 156 | 153 |
Estimate of Fair Value [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 6,801 | 11,227 |
Debt securities held to maturity | 716 | 751 |
Debt securities available for sale | 28,104 | 27,933 |
Loans held for sale | 400 | 354 |
Loans (excluding leases), net of unearned income and allowance for loan losses | 91,352 | 89,540 |
Other earning assets | 1,417 | 1,308 |
Derivative Assets | 2,105 | 2,609 |
Financial Liabilities | ||
Derivative Liabilities | 2,691 | 3,378 |
Deposits with no stated maturity, Fair Value Disclosure | 112,816 | 125,971 |
Time deposits. fair value disclosure | 14,905 | 5,697 |
Long-term Borrowings | 2,319 | 2,376 |
Loan commitments and letters of credit | 156 | 153 |
Level 1 [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 6,801 | 11,227 |
Debt securities held to maturity | 0 | 0 |
Debt securities available for sale | 1,223 | 1,187 |
Loans held for sale | 0 | 0 |
Loans (excluding leases), net of unearned income and allowance for loan losses | 0 | 0 |
Other earning assets | 813 | 529 |
Derivative Assets | 0 | 3 |
Financial Liabilities | ||
Derivative Liabilities | 0 | 2 |
Deposits with no stated maturity, Fair Value Disclosure | 0 | 0 |
Time deposits. fair value disclosure | 0 | 0 |
Long-term Borrowings | 0 | 0 |
Loan commitments and letters of credit | 0 | 0 |
Level 2 [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Debt securities held to maturity | 716 | 751 |
Debt securities available for sale | 26,880 | 26,744 |
Loans held for sale | 397 | 335 |
Loans (excluding leases), net of unearned income and allowance for loan losses | 0 | 0 |
Other earning assets | 604 | 779 |
Derivative Assets | 2,101 | 2,603 |
Financial Liabilities | ||
Derivative Liabilities | 2,690 | 3,375 |
Deposits with no stated maturity, Fair Value Disclosure | 112,816 | 125,971 |
Time deposits. fair value disclosure | 14,905 | 5,697 |
Long-term Borrowings | 2,318 | 2,375 |
Loan commitments and letters of credit | 0 | 0 |
Level 3 [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Debt securities held to maturity | 0 | 0 |
Debt securities available for sale | 1 | 2 |
Loans held for sale | 3 | 19 |
Loans (excluding leases), net of unearned income and allowance for loan losses | 91,352 | 89,540 |
Other earning assets | 0 | 0 |
Derivative Assets | 4 | 3 |
Financial Liabilities | ||
Derivative Liabilities | 1 | 1 |
Deposits with no stated maturity, Fair Value Disclosure | 0 | 0 |
Time deposits. fair value disclosure | 0 | 0 |
Long-term Borrowings | 1 | 1 |
Loan commitments and letters of credit | $ 156 | $ 153 |
Business Segment Information (S
Business Segment Information (Schedule Of Financial Information By Reportable Segment) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 USD ($) segment | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Segment Reporting Information [Line Items] | |||
Reportable segments | segment | 3 | ||
Net interest income and other financing income (loss) | $ 5,320 | $ 4,786 | $ 3,914 |
Provision (credit) for credit losses | 553 | 271 | (524) |
Non-interest income (loss) | 2,256 | 2,429 | 2,524 |
Non-interest expense (benefit) | 4,416 | 4,068 | 3,747 |
Income before income taxes | 2,607 | 2,876 | 3,215 |
Income tax expense (benefit) | 533 | 631 | 694 |
Net income (loss) | 2,074 | 2,245 | 2,521 |
Average assets | 153,017 | 159,392 | 154,269 |
Corporate Bank [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income and other financing income (loss) | 2,003 | 1,961 | 1,759 |
Provision (credit) for credit losses | 343 | 287 | 295 |
Non-interest income (loss) | 712 | 803 | 752 |
Non-interest expense (benefit) | 1,223 | 1,184 | 1,090 |
Income before income taxes | 1,149 | 1,293 | 1,126 |
Income tax expense (benefit) | 287 | 323 | 282 |
Net income (loss) | 862 | 970 | 844 |
Average assets | 69,520 | 64,532 | 59,132 |
Consumer Bank [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income and other financing income (loss) | 3,132 | 2,641 | 2,016 |
Provision (credit) for credit losses | 279 | 280 | 254 |
Non-interest income (loss) | 1,044 | 1,165 | 1,266 |
Non-interest expense (benefit) | 2,574 | 2,296 | 2,174 |
Income before income taxes | 1,323 | 1,230 | 854 |
Income tax expense (benefit) | 330 | 308 | 213 |
Net income (loss) | 993 | 922 | 641 |
Average assets | 37,762 | 36,623 | 34,309 |
Wealth Management [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income and other financing income (loss) | 185 | 184 | 139 |
Provision (credit) for credit losses | 8 | 9 | 10 |
Non-interest income (loss) | 457 | 426 | 390 |
Non-interest expense (benefit) | 427 | 404 | 387 |
Income before income taxes | 207 | 197 | 132 |
Income tax expense (benefit) | 52 | 50 | 33 |
Net income (loss) | 155 | 147 | 99 |
Average assets | 2,044 | 2,116 | 2,046 |
Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income and other financing income (loss) | 0 | 0 | 0 |
Provision (credit) for credit losses | (77) | (305) | (1,083) |
Non-interest income (loss) | 43 | 35 | 116 |
Non-interest expense (benefit) | 192 | 184 | 96 |
Income before income taxes | (72) | 156 | 1,103 |
Income tax expense (benefit) | (136) | (50) | 166 |
Net income (loss) | 64 | 206 | 937 |
Average assets | $ 43,691 | $ 56,121 | $ 58,782 |
Commitments, Contingencies an_3
Commitments, Contingencies and Guarantees (Credit Risk Of Financial Instruments By Contractual Amounts) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Other Commitments [Line Items] | ||||
Unused commitments to extend credit | $ 63,631 | $ 65,460 | ||
Standby letters of credit | 1,997 | 1,962 | ||
Commercial letters of credit | 78 | 75 | ||
Liabilities associated with standby letters of credit | 32 | 35 | ||
Assets associated with standby letters of credit | 34 | 37 | ||
Reserve for unfunded credit commitments | $ 124 | $ 118 | $ 95 | $ 126 |
Commitments, Contingencies an_4
Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Long-term Purchase Commitment [Line Items] | ||
Fannie Mae DUS Servicing Portfolio, Amount | $ 6,200 | $ 4,900 |
Fannie Mae Servicing Portfolio, Other, Amount | 653 | 655 |
Maximum Quantifiable Fannie Mae Loss Share Guarantee | $ 2,300 | $ 1,800 |
Revenue Recognition (Details)
Revenue Recognition (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Corporate Bank [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | $ 370 | $ 373 | $ 389 |
Corporate Bank [Member] | Asset Management Income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Corporate Bank [Member] | Service charges on deposit accounts | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 193 | 177 | 160 |
Corporate Bank [Member] | Card and ATM fees | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 45 | 45 | 41 |
Corporate Bank [Member] | Capital markets income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 92 | 108 | 149 |
Corporate Bank [Member] | Mortgage income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Corporate Bank [Member] | Investment Services Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Corporate Bank [Member] | Commercial Credit Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Corporate Bank [Member] | Bank-owned life insurance [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Corporate Bank [Member] | Insurance Proceeds | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | ||
Corporate Bank [Member] | Securities gains, net [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Corporate Bank [Member] | Market value adjustments on employee benefit assets - other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Corporate Bank [Member] | Valuation Gain on Equity Investments [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | ||
Corporate Bank [Member] | Other miscellaneous income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 40 | 43 | 39 |
Consumer Bank [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 893 | 966 | 983 |
Consumer Bank [Member] | Asset Management Income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Consumer Bank [Member] | Service charges on deposit accounts | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 396 | 458 | 480 |
Consumer Bank [Member] | Card and ATM fees | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 446 | 457 | 448 |
Consumer Bank [Member] | Capital markets income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Consumer Bank [Member] | Mortgage income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Consumer Bank [Member] | Investment Services Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Consumer Bank [Member] | Commercial Credit Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Consumer Bank [Member] | Bank-owned life insurance [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Consumer Bank [Member] | Insurance Proceeds | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | ||
Consumer Bank [Member] | Securities gains, net [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Consumer Bank [Member] | Market value adjustments on employee benefit assets - other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Consumer Bank [Member] | Valuation Gain on Equity Investments [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | ||
Consumer Bank [Member] | Other miscellaneous income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 51 | 51 | 55 |
Wealth Management [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 457 | 425 | 389 |
Wealth Management [Member] | Asset Management Income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 313 | 297 | 278 |
Wealth Management [Member] | Service charges on deposit accounts | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 3 | 3 | 3 |
Wealth Management [Member] | Card and ATM fees | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 1 | 0 | 0 |
Wealth Management [Member] | Capital markets income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Wealth Management [Member] | Mortgage income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Wealth Management [Member] | Investment Services Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 138 | 122 | 104 |
Wealth Management [Member] | Commercial Credit Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Wealth Management [Member] | Bank-owned life insurance [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Wealth Management [Member] | Insurance Proceeds | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | ||
Wealth Management [Member] | Securities gains, net [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Wealth Management [Member] | Market value adjustments on employee benefit assets - other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Wealth Management [Member] | Valuation Gain on Equity Investments [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | ||
Wealth Management [Member] | Other miscellaneous income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 2 | 3 | 4 |
Other Segment Revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 2 | 2 | 2 |
Other Segment Revenue [Member] | Asset Management Income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Segment Revenue [Member] | Service charges on deposit accounts | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 2 | 0 |
Other Segment Revenue [Member] | Card and ATM fees | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 1 | 0 | (1) |
Other Segment Revenue [Member] | Capital markets income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 1 | 0 | 0 |
Other Segment Revenue [Member] | Mortgage income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Segment Revenue [Member] | Investment Services Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Segment Revenue [Member] | Commercial Credit Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Segment Revenue [Member] | Bank-owned life insurance [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Segment Revenue [Member] | Insurance Proceeds | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | ||
Other Segment Revenue [Member] | Securities gains, net [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Segment Revenue [Member] | Market value adjustments on employee benefit assets - other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Segment Revenue [Member] | Valuation Gain on Equity Investments [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | ||
Other Segment Revenue [Member] | Other miscellaneous income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 3 |
Other Revenue - Not Impacted [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 534 | 663 | 761 |
Other Revenue - Not Impacted [Member] | Asset Management Income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Revenue - Not Impacted [Member] | Service charges on deposit accounts | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 1 | 5 |
Other Revenue - Not Impacted [Member] | Card and ATM fees | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 11 | 11 | 11 |
Other Revenue - Not Impacted [Member] | Capital markets income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 129 | 231 | 182 |
Other Revenue - Not Impacted [Member] | Mortgage income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 109 | 156 | 242 |
Other Revenue - Not Impacted [Member] | Investment Services Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 0 | 0 | 0 |
Other Revenue - Not Impacted [Member] | Commercial Credit Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 105 | 96 | 91 |
Other Revenue - Not Impacted [Member] | Bank-owned life insurance [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 78 | 62 | 82 |
Other Revenue - Not Impacted [Member] | Insurance Proceeds | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 50 | ||
Other Revenue - Not Impacted [Member] | Securities gains, net [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | (5) | (1) | 3 |
Other Revenue - Not Impacted [Member] | Market value adjustments on employee benefit assets - other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 15 | (45) | 20 |
Other Revenue - Not Impacted [Member] | Valuation Gain on Equity Investments [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 3 | ||
Other Revenue - Not Impacted [Member] | Other miscellaneous income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 92 | 102 | 122 |
Continuing Operations [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 2,256 | 2,429 | 2,524 |
Continuing Operations [Member] | Asset Management Income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 313 | 297 | 278 |
Continuing Operations [Member] | Service charges on deposit accounts | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 592 | 641 | 648 |
Continuing Operations [Member] | Card and ATM fees | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 504 | 513 | 499 |
Continuing Operations [Member] | Capital markets income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 222 | 339 | 331 |
Continuing Operations [Member] | Mortgage income | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 109 | 156 | 242 |
Continuing Operations [Member] | Investment Services Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 138 | 122 | 104 |
Continuing Operations [Member] | Commercial Credit Fee Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 105 | 96 | 91 |
Continuing Operations [Member] | Bank-owned life insurance [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 78 | 62 | 82 |
Continuing Operations [Member] | Insurance Proceeds | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 50 | ||
Continuing Operations [Member] | Securities gains, net [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | (5) | (1) | 3 |
Continuing Operations [Member] | Market value adjustments on employee benefit assets - other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 15 | (45) | 20 |
Continuing Operations [Member] | Valuation Gain on Equity Investments [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | 3 | ||
Continuing Operations [Member] | Other miscellaneous income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
RevenueFromContractWithCustomerExcludingAssessedTax | $ 185 | $ 199 | $ 223 |
Condensed Financial Information
Condensed Financial Information Parent Company Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | ||||
Interest-bearing deposits in other banks | $ 4,166 | $ 9,230 | ||
Debt securities available for sale | 28,104 | 27,933 | ||
Premises, equipment and software, net | 1,642 | 1,718 | ||
Other assets | 8,815 | 9,029 | ||
Total assets | 152,194 | 155,220 | ||
Liabilities and Stockholder's Equity [Abstract] | ||||
Long-term borrowings | 2,330 | 2,284 | ||
Other liabilities | 4,583 | 5,242 | ||
Total liabilities | 134,701 | 139,269 | ||
Equity [Abstract] | ||||
Preferred Stock, Carrying Amount | 1,659 | 1,659 | ||
Common stock | 10 | 10 | ||
Additional paid-in capital | 11,757 | 11,988 | ||
Retained earnings | 8,186 | 7,004 | ||
Treasury Stock, Value | (1,371) | (1,371) | ||
Accumulated other comprehensive income (loss), net | (2,812) | (3,343) | $ 289 | $ 1,315 |
Total shareholders’ equity | 17,429 | 15,947 | $ 18,326 | $ 18,111 |
Total liabilities and stockholders’ equity | 152,194 | 155,220 | ||
Parent Company [Member] | ||||
Assets | ||||
Interest-bearing deposits in other banks | 1,869 | 1,594 | ||
Debt securities available for sale | 20 | 21 | ||
Premises, equipment and software, net | 47 | 28 | ||
Investments in subsidiaries | 17,307 | 16,061 | ||
Other assets | 291 | 275 | ||
Total assets | 19,534 | 17,979 | ||
Liabilities and Stockholder's Equity [Abstract] | ||||
Long-term borrowings | 1,832 | 1,786 | ||
Other liabilities | 273 | 246 | ||
Total liabilities | 2,105 | 2,032 | ||
Equity [Abstract] | ||||
Preferred Stock, Carrying Amount | 1,659 | 1,659 | ||
Common stock | 10 | 10 | ||
Additional paid-in capital | 11,757 | 11,988 | ||
Retained earnings | 8,186 | 7,004 | ||
Treasury Stock, Value | (1,371) | (1,371) | ||
Accumulated other comprehensive income (loss), net | (2,812) | (3,343) | ||
Total shareholders’ equity | 17,429 | 15,947 | ||
Total liabilities and stockholders’ equity | 19,534 | 17,979 | ||
Parent Company [Member] | Bank [Member] | ||||
Assets | ||||
Investments in subsidiaries | 16,882 | 15,676 | ||
Parent Company [Member] | Non-Bank [Member] | ||||
Assets | ||||
Investments in subsidiaries | $ 425 | $ 385 |
Condensed Financial Informati_2
Condensed Financial Information Parent Company Statement of Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Salaries and employee benefits | $ 2,416 | $ 2,318 | $ 2,205 |
Interest expense | 1,577 | 316 | 167 |
Equipment and Software Expense | 412 | 392 | 365 |
Income before income taxes | 2,607 | 2,876 | 3,215 |
Income tax expense (benefit) | 533 | 631 | 694 |
Net income | 2,074 | 2,245 | 2,521 |
Preferred stock dividends | (98) | (99) | (108) |
Net income available to common shareholders | 1,976 | 2,146 | 2,400 |
Parent Company [Member] | |||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | 1,609 | 1,351 | 2,250 |
Interest Income | 1 | 4 | 8 |
Other Income | 7 | (3) | 22 |
Total Revenues | 1,617 | 1,352 | 2,280 |
Salaries and employee benefits | 65 | 64 | 61 |
Interest expense | 134 | 86 | 68 |
Equipment and Software Expense | (2) | 4 | 4 |
Other Expenses | 70 | 62 | 96 |
Operating Expenses | 267 | 216 | 229 |
Income before income taxes | 1,350 | 1,136 | 2,051 |
Income tax expense (benefit) | (43) | (36) | (43) |
Income Loss Before Equity In Undistributed Earnings Loss Of Subsidiaries And Preferred Dividends | 1,393 | 1,172 | 2,094 |
Equity In Undistributed Earnings Of Subsidiaries | 681 | 1,073 | 427 |
Net income | 2,074 | 2,245 | 2,521 |
Preferred stock dividends | (98) | (99) | (121) |
Net income available to common shareholders | 1,976 | 2,146 | 2,400 |
Bank [Member] | Parent Company [Member] | |||
Equity In Undistributed Earnings Of Subsidiaries | 644 | 1,066 | 372 |
Non-Bank [Member] | Parent Company [Member] | |||
Equity In Undistributed Earnings Of Subsidiaries | $ 37 | $ 7 | $ 55 |
Condensed Financial Informati_3
Condensed Financial Information Parent Company Statements of Cash Flow (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Operating activities: | |||
Net income | $ 2,074 | $ 2,245 | $ 2,521 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Depreciation, amortization and accretion, net | 236 | 353 | 371 |
Early extinguishment of debt | (4) | 0 | 20 |
Net change in operating assets and liabilities: | |||
Other assets | 194 | (2,242) | (231) |
Other liabilities | (659) | 2,092 | (76) |
Other | 87 | (77) | 66 |
Net cash from operating activities | 2,308 | 3,102 | 3,030 |
Investing activities: | |||
Proceeds from sales and maturities of debt securities available for sale | 2,930 | 4,433 | 5,848 |
Purchases of debt securities available for sale | (2,610) | (8,991) | (8,360) |
Net cash from investing activities | (1,607) | (12,941) | (2,865) |
Financing activities: | |||
Proceeds from long-term borrowings | 2,000 | 0 | 647 |
Payments on long-term borrowings | 2,000 | 0 | 1,779 |
Cash dividends on common stock | 787 | 663 | 608 |
Cash dividends on preferred stock | 98 | 99 | 108 |
Proceeds from Issuance of Preferred Stock and Preference Stock | 390 | ||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | 500 |
Repurchases of common stock | (252) | (230) | (467) |
Other | 0 | 0 | 3 |
Net cash from financing activities | (5,127) | (8,345) | 11,290 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (4,426) | (18,184) | 11,455 |
Parent Company [Member] | |||
Operating activities: | |||
Net income | 2,074 | 2,245 | 2,521 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Equity In Undistributed Earnings Of Subsidiaries | 681 | 1,073 | 427 |
Provision for deferred income taxes | (4) | (3) | (21) |
Depreciation, amortization and accretion, net | 2 | 2 | 3 |
Loss on sale of assets | (6) | 0 | 0 |
Early extinguishment of debt | 0 | 0 | 20 |
Net change in operating assets and liabilities: | |||
Other assets | (11) | 12 | 61 |
Other liabilities | (9) | (27) | 1 |
Other | 74 | (89) | (51) |
Net cash from operating activities | 1,439 | 1,067 | 2,107 |
Investing activities: | |||
(Investment in) / repayment of investment in subsidiaries | (8) | (23) | (21) |
Proceeds from sales and maturities of debt securities available for sale | 13 | 8 | 5 |
Purchases of debt securities available for sale | (11) | (9) | (3) |
Other, net | (21) | 0 | 0 |
Net cash from investing activities | (27) | (24) | (19) |
Financing activities: | |||
Proceeds from long-term borrowings | 0 | 0 | 646 |
Payments on long-term borrowings | 0 | 0 | (1,424) |
Cash dividends on common stock | (787) | (663) | (608) |
Cash dividends on preferred stock | (98) | (99) | (108) |
Proceeds from Issuance of Preferred Stock and Preference Stock | 0 | 0 | 390 |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | (500) |
Repurchases of common stock | (252) | (230) | (467) |
Net cash from financing activities | (1,137) | (992) | (2,071) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 275 | 51 | 17 |
Cash and cash equivalents at beginning of year | 1,594 | 1,543 | 1,526 |
Cash and cash equivalents at end of year | $ 1,869 | $ 1,594 | $ 1,543 |