DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 02, 2021 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-34034 | |
Entity Registrant Name | Regions Financial Corporation | |
Entity Central Index Key | 0001281761 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
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 Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 953,282,623 | |
Common Stock [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Common Stock, $.01 par value | |
Trading Symbol | RF | |
Security Exchange Name | NYSE | |
Series B Preferred Stock [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B | |
Trading Symbol | RF PRB | |
Security Exchange Name | NYSE | |
Series C Preferred Stock [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C | |
Trading Symbol | RF PRC | |
Security Exchange Name | NYSE | |
Series E Preferred Stock | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 4.45% Non-Cumulative Perpetual Preferred Stock, Series E | |
Trading Symbol | RF PRE | |
Security Exchange Name | NYSE |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | |
Assets | |||
Cash and due from banks | $ 1,741,000,000 | $ 1,558,000,000 | |
Interest-bearing deposits in other banks | 25,766,000,000 | 16,398,000,000 | |
Debt securities held to maturity | 945,000,000 | 1,122,000,000 | |
Debt securities available for sale | 28,986,000,000 | 27,154,000,000 | |
Loans held for sale | 934,000,000 | 1,905,000,000 | |
Loans, net of unearned income | 83,270,000,000 | [1] | 85,266,000,000 |
Allowance for loan losses | (1,428,000,000) | (2,167,000,000) | |
Net loans | 81,842,000,000 | 83,099,000,000 | |
Other earning assets | 1,269,000,000 | 1,217,000,000 | |
Premises and equipment, net | 1,805,000,000 | 1,897,000,000 | |
Interest receivable | 304,000,000 | 346,000,000 | |
Goodwill | 5,181,000,000 | 5,190,000,000 | |
Residential mortgage servicing rights at fair value | 410,000,000 | 296,000,000 | |
Other identifiable intangible assets, net | 101,000,000 | 122,000,000 | |
Other assets | 6,869,000,000 | 7,085,000,000 | |
Total assets | 156,153,000,000 | 147,389,000,000 | |
Deposits: | |||
Non-interest-bearing | 57,145,000,000 | 51,289,000,000 | |
Interest-bearing | 74,894,000,000 | 71,190,000,000 | |
Total deposits | 132,039,000,000 | 122,479,000,000 | |
Borrowed funds: | |||
Long-term borrowings | 2,451,000,000 | 3,569,000,000 | |
Total borrowed funds | 2,451,000,000 | 3,569,000,000 | |
Other liabilities | 3,040,000,000 | 3,230,000,000 | |
Total liabilities | 137,530,000,000 | 129,278,000,000 | |
Equity: | |||
Preferred stock | 1,659,000,000 | 1,656,000,000 | |
Common stock | 10,000,000 | 10,000,000 | |
Additional paid-in capital | 12,479,000,000 | 12,731,000,000 | |
Retained earnings | 5,296,000,000 | 3,770,000,000 | |
Treasury stock, at cost | (1,371,000,000) | (1,371,000,000) | |
Accumulated other comprehensive income, net | 532,000,000 | 1,315,000,000 | |
Total shareholders’ equity | 18,605,000,000 | 18,111,000,000 | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 18,623,000,000 | 18,111,000,000 | |
Stockholders' Equity Attributable to Noncontrolling Interest | 18,000,000 | 0 | |
Total liabilities and equity | $ 156,153,000,000 | $ 147,389,000,000 | |
[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. |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Debt securities held to maturity | $ 1,010 | $ 1,215 |
Debt Securities, Available-for-sale, Amortized Cost | 28,480 | 26,092 |
Loans held for sale | $ 857 | $ 1,446 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Par Value Per Share (in dollars per share) | $ 1 | $ 1 |
Common Stock, Shares Authorized | 3,000,000,000 | 3,000,000,000 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Shares, Issued | 995,602,823 | 1,001,507,052 |
Treasury Stock, Shares | 41,032,676 | 41,032,676 |
Noncumulative Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 1,750,000 | 1,850,000 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest and Fee Income, Loans and Leases Held-in-portfolio | $ 847 | $ 903 | $ 2,550 | $ 2,704 |
Debt securities | 135 | 140 | 399 | 446 |
Interest and Fee Income, Loans & Leases Held for Sale | 7 | 8 | 31 | 19 |
Other earning assets | 17 | 8 | 45 | 32 |
Interest and Dividend Income, Operating | 1,006 | 1,059 | 3,025 | 3,201 |
Deposits | 15 | 32 | 51 | 156 |
Short-term borrowings | 0 | 0 | 0 | 10 |
Long-term borrowings | 26 | 39 | 79 | 147 |
Interest Expense | 41 | 71 | 130 | 313 |
Interest Income (Expense), Net | 965 | 988 | 2,895 | 2,888 |
Provision (Credit) for Credit Losses | (155) | 113 | (634) | 1,368 |
Interest Income (Expense), after Provision for Loan Loss | 1,120 | 875 | 3,529 | 1,520 |
Total non-interest income | 649 | 655 | 1,909 | 1,713 |
Salaries and employee benefits | 552 | 525 | 1,630 | 1,519 |
Net occupancy expense | 75 | 80 | 227 | 235 |
Equipment and software expense | 90 | 89 | 269 | 258 |
Other | 221 | 202 | 638 | 644 |
Non-interest expense | 938 | 896 | 2,764 | 2,656 |
Income (Loss) Attributable to Parent, before Tax | 831 | 634 | 2,674 | 577 |
Income tax expense | 180 | 104 | 591 | 99 |
Net income (loss) | 651 | 530 | 2,083 | 478 |
Net income available to common shareholders | 624 | 501 | $ 1,986 | 403 |
Document Fiscal Year Focus | 2021 | |||
Interest income on: | ||||
Interest and Fee Income, Loans and Leases Held-in-portfolio | 847 | 903 | $ 2,550 | 2,704 |
Debt securities | 135 | 140 | 399 | 446 |
Interest and Fee Income, Loans & Leases Held for Sale | 7 | 8 | 31 | 19 |
Other earning assets | 17 | 8 | 45 | 32 |
Total interest income | 1,006 | 1,059 | 3,025 | 3,201 |
Interest expense on: | ||||
Deposits | 15 | 32 | 51 | 156 |
Short-term borrowings | 0 | 0 | 0 | 10 |
Long-term borrowings | 26 | 39 | 79 | 147 |
Total interest expense | 41 | 71 | 130 | 313 |
Net interest income | 965 | 988 | 2,895 | 2,888 |
Provision for (benefit from) credit losses | (155) | 113 | (634) | 1,368 |
Net interest income after provision for (benefit from) credit losses | 1,120 | 875 | 3,529 | 1,520 |
Non-interest expense: | ||||
Salaries and employee benefits | 552 | 525 | 1,630 | 1,519 |
Equipment and software expense | 90 | 89 | 269 | 258 |
Net occupancy expense | 75 | 80 | 227 | 235 |
Other | 221 | 202 | 638 | 644 |
Total non-interest expense | 938 | 896 | 2,764 | 2,656 |
Income before income taxes | 831 | 634 | 2,674 | 577 |
Income tax expense | 180 | 104 | 591 | 99 |
Net income | 651 | 530 | 2,083 | 478 |
Net income available to common shareholders | $ 624 | $ 501 | $ 1,986 | $ 403 |
Weighted-average number of shares outstanding: | ||||
Basic (in shares) | 955 | 960 | 958 | 959 |
Diluted (in shares) | 962 | 962 | 965 | 961 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 0.65 | $ 0.52 | $ 2.07 | $ 0.42 |
Diluted (in dollars per share) | $ 0.65 | $ 0.52 | $ 2.06 | $ 0.42 |
Retained Earnings [Member] | ||||
Net income (loss) | $ 651 | $ 530 | $ 2,083 | $ 478 |
Non-interest expense: | ||||
Net income | 651 | 530 | 2,083 | 478 |
Service charges on deposit accounts | ||||
Total non-interest income | 162 | 152 | 482 | 461 |
Card and ATM fees | ||||
Total non-interest income | 129 | 115 | 372 | 321 |
Investment management and trust fee income | ||||
Total non-interest income | 69 | 62 | 204 | 186 |
Capital markets income | ||||
Total non-interest income | 87 | 61 | 248 | 165 |
Mortgage income | ||||
Total non-interest income | 50 | 108 | 193 | 258 |
Securities gains (losses), net | ||||
Total non-interest income | 1 | 3 | 3 | 4 |
Other | ||||
Total non-interest income | $ 151 | $ 154 | $ 407 | $ 318 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income (loss) | $ 651 | $ 530 | $ 2,083 | $ 478 |
Unrealized losses on securities transferred to held to maturity during the period, net of tax | 0 | 0 | 0 | 0 |
Less: Reclassification Adjustments for Amortization of Unrealized Losses on Securities Transferred to Held to Maturity, Net of Tax | (2) | (2) | (5) | (4) |
Net change in unrealized losses on securities transferred to held to maturity, net of tax | 2 | 2 | 5 | 4 |
Unrealized holding gains (losses) arising during the period on securities available for sale (net of tax) | (75) | (2) | (414) | 629 |
Less: reclassification adjustments for securities gains (losses) realized in net income (net of tax) | 0 | 2 | 2 | 3 |
Net change in unrealized gains on securities available for sale, net of tax | (75) | (4) | (416) | 626 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax | 18 | 2 | (174) | 1,121 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax | 81 | 70 | 235 | 122 |
Net change in unrealized gains on derivative instruments, net of tax | (63) | (68) | (409) | 999 |
Net actuarial gains (losses) arising during the period (net of tax) | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | 17 | 9 | 37 | 26 |
Net change from defined benefit pension plans and other post employment benefits, net of tax | 17 | 9 | 37 | 26 |
Other comprehensive income (loss), net of tax | (119) | (61) | (783) | 1,655 |
Comprehensive income | $ 532 | $ 469 | $ 1,300 | $ 2,133 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized losses on securities transferred to held to maturity during the period, tax | $ 0 | $ 0 | $ 0 | $ 0 |
Amortization of unrealized losses on securities transferred to held to maturity, tax | 0 | 2 | 1 | 2 |
Unrealized holding gains (losses) on available for sale securities, tax | (24) | 0 | (139) | 212 |
Reclassification adjustments for securities gains (losses) realized in net income, tax | 1 | 1 | 1 | 1 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | 6 | 0 | (59) | 377 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | 27 | 24 | 79 | 41 |
Net actuarial gains and losses arising during the period, tax | 0 | 0 | 0 | 0 |
Reclassification adjustments for amortization of actuarial loss realized in net income, and other, tax | $ (4) | $ (2) | $ (11) | $ (8) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment | Treasury Stock, At Cost [Member] | Accumulated Other Comprehensive Income (Loss), Net [Member] | Noncontrolling Interest [Member] | |
Beginning Balance Outstanding (in shares) at Dec. 31, 2019 | 2,000 | 957,000 | |||||||||
Beginning Balance at Dec. 31, 2019 | $ 16,295 | $ (377) | $ 1,310 | $ 10 | $ 12,685 | $ 3,751 | $ (377) | $ (1,371) | $ (90) | $ 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income (loss) | 162 | 162 | |||||||||
Other comprehensive income (loss), net of tax | 1,414 | 1,414 | |||||||||
Cash dividends declared | (149) | (149) | |||||||||
Preferred stock dividends | (23) | (23) | |||||||||
Impact of stock transactions under compensation plans, net and other | 10 | 10 | |||||||||
Ending Balance Outstanding (in shares) at Mar. 31, 2020 | 2,000 | 957,000 | |||||||||
Ending Balance at Mar. 31, 2020 | 17,332 | $ 1,310 | $ 10 | 12,695 | 3,364 | (1,371) | 1,324 | 0 | |||
Beginning Balance Outstanding (in shares) at Dec. 31, 2019 | 2,000 | 957,000 | |||||||||
Beginning Balance at Dec. 31, 2019 | 16,295 | $ (377) | $ 1,310 | $ 10 | 12,685 | 3,751 | $ (377) | (1,371) | (90) | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income (loss) | 478 | 478 | |||||||||
Other comprehensive income (loss), net of tax | 1,655 | ||||||||||
Preferred stock dividends | (75) | ||||||||||
Net proceeds from issuance of preferred stock | 346 | ||||||||||
Preferred Stock Dividends, Income Statement Impact | 75 | ||||||||||
Ending Balance Outstanding (in shares) at Sep. 30, 2020 | 2,000 | 960,000 | |||||||||
Ending Balance at Sep. 30, 2020 | 17,904 | $ 1,656 | $ 10 | 12,714 | 3,330 | (1,371) | 1,565 | 0 | |||
Beginning Balance Outstanding (in shares) at Mar. 31, 2020 | 2,000 | 957,000 | |||||||||
Beginning Balance at Mar. 31, 2020 | 17,332 | $ 1,310 | $ 10 | 12,695 | 3,364 | (1,371) | 1,324 | 0 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income (loss) | (214) | (214) | |||||||||
Other comprehensive income (loss), net of tax | 302 | 302 | |||||||||
Cash dividends declared | (149) | (149) | |||||||||
Preferred stock dividends | (23) | (23) | |||||||||
Net proceeds from issuance of preferred stock (in shares) | 0 | ||||||||||
Net proceeds from issuance of preferred stock | 346 | $ 346 | |||||||||
Impact of stock transactions under compensation plans, net and other (in shares) | 3,000 | ||||||||||
Impact of stock transactions under compensation plans, net and other | 8 | 8 | |||||||||
Other | 26 | ||||||||||
Ending Balance Outstanding (in shares) at Jun. 30, 2020 | 2,000 | 960,000 | |||||||||
Ending Balance at Jun. 30, 2020 | 17,602 | $ 1,656 | $ 10 | 12,703 | 2,978 | (1,371) | 1,626 | 26 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income (loss) | 530 | 530 | |||||||||
Other comprehensive income (loss), net of tax | (61) | (61) | |||||||||
Cash dividends declared | (149) | (149) | |||||||||
Preferred stock dividends | (29) | (29) | |||||||||
Impact of stock transactions under compensation plans, net and other | 11 | 11 | |||||||||
Other | (26) | ||||||||||
Preferred Stock Dividends, Income Statement Impact | 29 | ||||||||||
Ending Balance Outstanding (in shares) at Sep. 30, 2020 | 2,000 | 960,000 | |||||||||
Ending Balance at Sep. 30, 2020 | 17,904 | $ 1,656 | $ 10 | 12,714 | 3,330 | (1,371) | 1,565 | 0 | |||
Beginning Balance Outstanding (in shares) at Dec. 31, 2020 | 2,000 | 960,000 | |||||||||
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 (loss) | 642 | 642 | |||||||||
Other comprehensive income (loss), net of tax | (723) | (723) | |||||||||
Cash dividends declared | (149) | (149) | |||||||||
Preferred stock dividends | (28) | (28) | |||||||||
Impact of stock transactions under compensation plans, net and other (in shares) | 1,000 | ||||||||||
Impact of stock transactions under compensation plans, net and other | 9 | 9 | |||||||||
Ending Balance Outstanding (in shares) at Mar. 31, 2021 | 2,000 | 961,000 | |||||||||
Ending Balance at Mar. 31, 2021 | 17,862 | $ 1,656 | $ 10 | 12,740 | 4,235 | (1,371) | 592 | 0 | |||
Beginning Balance Outstanding (in shares) at Dec. 31, 2020 | 2,000 | 960,000 | |||||||||
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 (loss) | 2,083 | 2,083 | |||||||||
Other comprehensive income (loss), net of tax | (783) | ||||||||||
Preferred stock dividends | (84) | ||||||||||
Net proceeds from issuance of preferred stock | 390 | ||||||||||
Preferred Stock Dividends, Income Statement Impact | [1] | 97 | |||||||||
Ending Balance Outstanding (in shares) at Sep. 30, 2021 | 2,000 | 955,000 | |||||||||
Ending Balance at Sep. 30, 2021 | 18,605 | $ 1,659 | $ 10 | 12,479 | 5,296 | (1,371) | 532 | 18 | |||
Beginning Balance Outstanding (in shares) at Mar. 31, 2021 | 2,000 | 961,000 | |||||||||
Beginning Balance at Mar. 31, 2021 | 17,862 | $ 1,656 | $ 10 | 12,740 | 4,235 | (1,371) | 592 | 0 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income (loss) | 790 | 790 | |||||||||
Other comprehensive income (loss), net of tax | 59 | 59 | |||||||||
Cash dividends declared | (147) | (147) | |||||||||
Preferred stock dividends | (29) | (29) | |||||||||
Net proceeds from issuance of preferred stock | 390 | 390 | |||||||||
Preferred Stock, Redemption Amount | (500) | $ (387) | (100) | (13) | |||||||
Impact of common stock share repurchases (in shares) | (8,000) | ||||||||||
Impact of common stock share repurchases | (167) | (167) | |||||||||
Impact of stock transactions under compensation plans, net and other (in shares) | 2,000 | ||||||||||
Impact of stock transactions under compensation plans, net and other | (6) | (6) | |||||||||
Ending Balance Outstanding (in shares) at Jun. 30, 2021 | 2,000 | 955,000 | |||||||||
Ending Balance at Jun. 30, 2021 | 18,252 | $ 1,659 | $ 10 | 12,467 | 4,836 | (1,371) | 651 | 0 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income (loss) | 651 | 651 | |||||||||
Other comprehensive income (loss), net of tax | (119) | (119) | |||||||||
Cash dividends declared | $ (164) | (164) | |||||||||
Preferred stock dividends | (27) | ||||||||||
Impact of common stock share repurchases (in shares) | (8,000) | ||||||||||
Impact of stock transactions under compensation plans, net and other (in shares) | 0 | ||||||||||
Impact of stock transactions under compensation plans, net and other | $ 12 | 12 | |||||||||
Other | 18 | ||||||||||
Preferred Stock Dividends, Income Statement Impact | [1] | 27 | |||||||||
Ending Balance Outstanding (in shares) at Sep. 30, 2021 | 2,000 | 955,000 | |||||||||
Ending Balance at Sep. 30, 2021 | $ 18,605 | $ 1,659 | $ 10 | $ 12,479 | $ 5,296 | $ (1,371) | $ 532 | $ 18 | |||
[1] | Preferred stock dividends and other for the nine months ended September 30, 2021 includes $13 million of issuance costs associated with the redemption of Series A preferred shares in the second quarter of 2021. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating activities: | ||
Net income (loss) | $ 2,083 | $ 478 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Provision for credit losses | (634) | 1,368 |
Depreciation, amortization and accretion, net | 293 | 360 |
Securities (gains) losses, net | (3) | (4) |
Deferred income tax expense (benefit) | 200 | (234) |
Originations and purchases of loans held for sale | (5,236) | (4,684) |
Proceeds from sales of loans held for sale | 6,024 | 4,328 |
(Gain) loss on sale of loans, net | (194) | (181) |
Gain (Loss) on Extinguishment of Debt | 20 | 8 |
Net change in operating assets and liabilities: | ||
Other earning assets | (67) | 269 |
Interest receivable and other assets | (192) | 0 |
Other liabilities | (84) | 513 |
Other | 59 | 104 |
Net cash from operating activities | 2,269 | 2,325 |
Investing activities: | ||
Proceeds from maturities of debt securities held to maturity | 177 | 141 |
Proceeds from sales of debt securities available for sale | 77 | 175 |
Proceeds from maturities of debt securities available for sale | 4,400 | 3,360 |
Purchases of debt securities available for sale | (7,128) | (6,396) |
Net proceeds from (payments for) bank-owned life insurance | (2) | (3) |
Proceeds from sales of loans | 436 | 193 |
Purchases of loans | (1,004) | (1,266) |
Purchases of mortgage servicing rights | (58) | (35) |
Net change in loans | 2,804 | (2,522) |
Net purchases of other assets | (54) | (96) |
Payment for acquisition of a business, net of cash received | 0 | (381) |
Net cash from investing activities | (352) | (6,830) |
Financing activities: | ||
Net change in deposits | 9,560 | 20,970 |
Net change in short-term borrowings | 0 | (2,050) |
Proceeds from long-term borrowings | 647 | 4,698 |
Payments on long-term borrowings | (1,749) | (9,569) |
Net proceeds from issuance of preferred stock | 390 | 346 |
Payments for Repurchase of Preferred Stock and Preference Stock | (500) | 0 |
Cash dividends on common stock | (446) | (446) |
Cash dividends on preferred stock | (84) | (75) |
Repurchases of common stock | (167) | 0 |
Taxes paid related to net share settlement of equity awards | (20) | (7) |
Other | 3 | (3) |
Net cash from financing activities | 7,634 | 13,864 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 9,551 | 9,359 |
Cash and cash equivalents at beginning of year | 17,956 | 4,114 |
Cash and cash equivalents at end of period | $ 27,507 | $ 13,473 |
Document Fiscal Year Focus | 2021 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | NOTE 1. BASIS OF PRESENTATION 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. The Company competes with other financial institutions located in the states in which it operates, as well as other adjoining states. Regions is subject to the regulations of certain government agencies and undergoes periodic examinations by certain 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. The accompanying interim financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and notes to the consolidated financial statements necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows in conformity with GAAP. In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the consolidated financial statements have been included. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto in Regions’ Annual Report on Form 10-K for the year ended December 31, 2020. Regions has evaluated all subsequent events for potential recognition and disclosure through the filing date of this Form 10-Q. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 2. 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: September 30, 2021 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 $ 405 $ — $ (14) $ 391 $ 25 $ — $ 416 Commercial agency 555 — (1) 554 40 — 594 $ 960 $ — $ (15) $ 945 $ 65 $ — $ 1,010 Debt securities available for sale: U.S. Treasury securities $ 783 $ 2 $ (1) $ 784 $ 784 Federal agency securities 96 2 (1) 97 97 Mortgage-backed securities: Residential agency 19,414 404 (133) 19,685 19,685 Residential non-agency 1 — — 1 1 Commercial agency 6,207 219 (41) 6,385 6,385 Commercial non-agency 557 7 — 564 564 Corporate and other debt securities 1,422 49 (1) 1,470 1,470 $ 28,480 $ 683 $ (177) $ 28,986 $ 28,986 December 31, 2020 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 $ 554 $ — $ (19) $ 535 $ 34 $ — $ 569 Commercial agency 589 — (2) 587 59 — 646 $ 1,143 $ — $ (21) $ 1,122 $ 93 $ — $ 1,215 Debt securities available for sale: U.S. Treasury securities $ 178 $ 5 $ — $ 183 $ 183 Federal agency securities 102 3 — 105 105 Mortgage-backed securities: Residential agency 18,455 625 (4) 19,076 19,076 Residential non-agency 1 — — 1 1 Commercial agency 5,659 346 (6) 5,999 5,999 Commercial non-agency 571 15 — 586 586 Corporate and other debt securities 1,126 78 — 1,204 1,204 $ 26,092 $ 1,072 $ (10) $ 27,154 $ 27,154 _________ (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 $9.4 billion and $10.3 billion at September 30, 2021, and December 31, 2020, respectively, were pledged to secure public funds, trust deposits and certain borrowing arrangements. Included within total pledged securities is approximately $24 million of encumbered U.S. Treasury securities at both September 30, 2021, and December 31, 2020. The amortized cost and estimated fair value of debt securities held to maturity and debt securities available for sale at September 30, 2021, 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 $ 405 $ 416 Commercial agency 555 594 $ 960 $ 1,010 Debt securities available for sale: Due in one year or less $ 324 $ 327 Due after one year through five years 1,098 1,129 Due after five years through ten years 765 779 Due after ten years 114 116 Mortgage-backed securities: Residential agency 19,414 19,685 Residential non-agency 1 1 Commercial agency 6,207 6,385 Commercial non-agency 557 564 $ 28,480 $ 28,986 The following tables present gross unrealized losses and the related estimated fair value of debt securities available for sale at September 30, 2021, and December 31, 2020. These securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more. September 30, 2021 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Debt securities available for sale: U.S. Treasury securities $ 360 $ (1) $ 4 $ — $ 364 $ (1) Federal agency securities 64 (1) — — 64 (1) Mortgage-backed securities: Residential agency $ 7,849 $ (128) $ 220 $ (5) $ 8,069 $ (133) Commercial agency 1,594 (28) 354 (13) 1,948 (41) Corporate and other debt securities 328 (1) — — 328 (1) $ 10,195 $ (159) $ 578 $ (18) $ 10,773 $ (177) December 31, 2020 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Debt securities available for sale: Mortgage-backed securities: Residential agency $ 914 $ (4) $ 101 $ — $ 1,015 $ (4) Commercial agency 819 (6) — — 819 (6) $ 1,733 $ (10) $ 101 $ — $ 1,834 $ (10) The number of individual debt positions in an unrealized loss position in the tables above increased from 129 at December 31, 2020, to 337 at September 30, 2021. The increase in the number of securities and the total amount of unrealized losses from year-end 2020 was primarily due to 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. 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 basis, which may be at maturity. Gross realized gains and gross realized losses on sales of debt securities available for sale were immaterial for the three and nine months ended September 30, 2021 and 2020. The cost of securities sold is based on the specific identification method. As part of the Company's normal process for evaluating impairment, management did not identify any positions where impairment was believed to exist in either of the three and nine months ended September 30, 2021 or 2020. |
Loans and the Allowance for Cre
Loans and the Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loans and the Allowance for Credit Losses | NOTE 3. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES LOANS The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income: September 30, 2021 December 31, 2020 (In millions) Commercial and industrial $ 41,748 $ 42,870 Commercial real estate mortgage—owner-occupied 5,446 5,405 Commercial real estate construction—owner-occupied 252 300 Total commercial 47,446 48,575 Commercial investor real estate mortgage 5,608 5,394 Commercial investor real estate construction 1,704 1,869 Total investor real estate 7,312 7,263 Residential first mortgage 17,347 16,575 Home equity lines 3,875 4,539 Home equity loans 2,556 2,713 Indirect—vehicles 500 934 Indirect—other consumer 2,123 2,431 Consumer credit card 1,136 1,213 Other consumer 975 1,023 Total consumer 28,512 29,428 Total loans, net of unearned income $ 83,270 $ 85,266 During the nine months ended September 30, 2021 and 2020, Regions purchased approximately $986 million and $1.3 billion in indirect-other consumer, residential first mortgage and commercial and industrial loans from third parties, respectively. At September 30, 2021, $16.2 billion in securities and net eligible loans held by Regions were pledged for potential borrowings from the FHLB. At September 30, 2021, an additional $12.8 billion in net eligible loans held by Regions were pledged to the FRB for potential borrowings. Included in the commercial and industrial loan balance are sales-type and direct financing leases totaling $1.2 billion as of September 30, 2021, with related income of $45 million for the nine months ended September 30, 2021. ALLOWANCE FOR CREDIT LOSSES Regions determines the appropriate level of the allowance on a quarterly basis. Refer to Note 1 "Summary of Significant Accounting Policies" to the consolidated financial statements to the Annual Report on Form 10-K for the year ended December 31, 2020, for a description of the methodology. As of September 30, 2021, Regions' total loans included $1.5 billion of PPP loans. These loans are guaranteed by the Federal government and as the guarantee is not separable from the loans, Regions recorded an immaterial allowance on these loans. ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES During the nine months ended September 30, 2021, Regions decreased the allowance by $794 million to $1.5 billion, which represents management's best estimate of expected losses over the life of the portfolio. The decrease was due primarily to continued improvement in the economic outlook and strong credit trends. While the allowance estimate reflects these benefits, elevated levels of imprecision remain due to continued uncertainty regarding the timing of full economic recovery. Macroeconomic factors utilized in the CECL loss models include, but are not limited to, unemployment rate, GDP, HPI and the S&P 500 index, with unemployment being the most significant macroeconomic factor. Regions' models are sensitive to changes in the economic scenarios. The September 30, 2021 economic forecast was relatively consistent with the June 2021 forecast with the exception of the HPI and S&P 500 index which had increases during the quarter. Risks to the economic forecast and the model limitations are considered through model adjustments and the qualitative framework. The following tables present analyses of the allowance by portfolio segment for the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, 2021 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, July 1, 2021 $ 858 $ 91 $ 648 $ 1,597 Provision for (benefit from) loan losses (122) (3) (14) (139) Loan losses: Charge-offs (22) — (37) (59) Recoveries 16 1 12 29 Net loan (losses) recoveries (6) 1 (25) (30) Allowance for loan losses, September 30, 2021 730 89 609 1,428 Reserve for unfunded credit commitments, July 1, 2021 61 13 13 87 Provision for (benefit from) unfunded credit commitments (7) (5) (4) (16) Reserve for unfunded credit commitments, September 30, 2021 54 8 9 71 Allowance for credit losses, September 30, 2021 $ 784 $ 97 $ 618 $ 1,499 Three Months Ended September 30, 2020 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, July 1, 2020 $ 1,271 $ 160 $ 845 $ 2,276 Provision for (benefit from) loan losses 59 30 24 113 Loan losses: Charge-offs (86) — (53) (139) Recoveries 11 — 15 26 Net loan (losses) recoveries (75) — (38) (113) Allowance for loan losses, September 30, 2020 1,255 190 831 2,276 Reserve for unfunded credit commitments, July 1, 2020 107 27 15 149 Provision for (benefit from) unfunded credit commitments 26 (22) (4) — Reserve for unfunded credit commitments, September 30, 2020 133 5 11 149 Allowance for credit losses, September 30, 2020 $ 1,388 $ 195 $ 842 $ 2,425 Nine Months Ended September 30, 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 (408) (78) (93) (579) Loan losses: Charge-offs (105) (19) (132) (256) Recoveries 47 3 46 96 Net loan (losses) recoveries (58) (16) (86) (160) Allowance for loan losses, September 30, 2021 730 89 609 1,428 Reserve for unfunded credit commitments, January 1, 2021 97 14 15 126 Provision for (benefit from) unfunded credit commitments (43) (6) (6) (55) Reserve for unfunded credit commitments, September 30, 2021 54 8 9 71 Allowance for credit losses, September 30, 2021 $ 784 $ 97 $ 618 $ 1,499 Nine Months Ended September 30, 2020 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, December 31, 2019 $ 537 $ 45 $ 287 $ 869 Cumulative change in accounting guidance (3) 7 434 438 Allowance for loan losses, January 1, 2020 (adjusted for change in accounting guidance) $ 534 $ 52 $ 721 $ 1,307 Provision for (benefit from) loan losses 932 137 258 1,327 Initial allowance on acquired PCD loans 60 — — 60 Loan losses: Charge-offs (299) — (188) (487) Recoveries 28 1 40 69 Net loan (losses) recoveries (271) 1 (148) (418) Allowance for loan losses, September 30, 2020 1,255 190 831 2,276 Reserve for unfunded credit commitments, December 31, 2019 41 4 — 45 Cumulative change in accounting guidance 36 13 14 63 Reserve for unfunded credit commitments, January 1, 2020 (adjusted for change in accounting guidance) 77 17 14 108 Provision (credit) for unfunded credit losses 56 (12) (3) 41 Reserve for unfunded credit commitments, September 30, 2020 133 5 11 149 Allowance for credit losses, September 30, 2020 $ 1,388 $ 195 $ 842 $ 2,425 PORTFOLIO SEGMENT RISK FACTORS Regions’ portfolio segments are commercial, investor real estate and consumer. Classes within each segment present unique credit risks. Refer to Note 6 "Allowance for Credit Losses" in the Annual Report on Form 10-K for the year ended December 31, 2020 for information regarding Regions’ portfolio segments and related classes, as well as the risks specific to each. CREDIT QUALITY INDICATORS 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. Regions' ratings are aligned to federal banking regulators’ definitions and are utilized to develop the associated allowance. Refer to Note 6 "Allowance for Credit Losses" in the Annual Report on Form 10-K for the year ended December 31, 2020 for information regarding commercial risk ratings. Regions' consumer portfolio segment has various classes that present unique credit risks. 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 following tables present applicable credit quality indicators for the loan portfolio segments and classes, excluding loans held for sale, by vintage year as of September 30, 2021 and December 31, 2020. 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. Refer to Note 6 "Allowance for Credit Losses" in the Annual Report on Form 10-K for the year ended December 31, 2020 for more information regarding Regions' credit quality indicators. September 30, 2021 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2021 2020 2019 2018 2017 Prior (In millions) Commercial and industrial: Risk Rating: Pass (2) $ 9,076 $ 6,132 $ 4,429 $ 2,155 $ 1,813 $ 2,835 $ 13,312 $ — $ (105) $ 39,647 Special Mention 39 80 187 177 $ 24 $ 77 515 — — 1,099 Substandard Accrual 74 45 60 100 $ 23 $ 9 332 — — 643 Non-accrual 73 25 54 11 $ 14 $ 17 165 — — 359 Total commercial and industrial $ 9,262 $ 6,282 $ 4,730 $ 2,443 $ 1,874 $ 2,938 $ 14,324 $ — $ (105) $ 41,748 Commercial real estate mortgage—owner-occupied: Risk Rating: Pass $ 1,114 $ 1,213 $ 740 $ 734 $ 425 $ 845 $ 139 $ — $ (5) $ 5,205 Special Mention 3 41 4 19 6 18 1 — — 92 Substandard Accrual 1 8 38 8 9 17 — — — 81 Non-accrual 2 6 11 14 20 14 1 — — 68 Total commercial real estate mortgage—owner-occupied: $ 1,120 $ 1,268 $ 793 $ 775 $ 460 $ 894 $ 141 $ — $ (5) $ 5,446 Commercial real estate construction—owner-occupied: Risk Rating: Pass $ 43 $ 61 $ 28 $ 31 $ 22 $ 46 $ 1 $ — $ — $ 232 Special Mention — — — 2 — 1 — — — 3 Substandard Accrual — — — 2 3 1 — — — 6 Non-accrual — 1 1 — 1 8 — — — 11 Total commercial real estate construction—owner-occupied: $ 43 $ 62 $ 29 $ 35 $ 26 $ 56 $ 1 $ — $ — $ 252 Total commercial $ 10,425 $ 7,612 $ 5,552 $ 3,253 $ 2,360 $ 3,888 $ 14,466 $ — $ (110) $ 47,446 Commercial investor real estate mortgage: Risk Rating: Pass $ 1,464 $ 841 $ 1,138 $ 770 $ 139 $ 103 $ 479 $ — $ (6) $ 4,928 Special Mention 28 107 163 2 8 9 — — — 317 Substandard Accrual 39 67 166 57 15 8 7 — — 359 Non-accrual — — — 1 — 3 — — — 4 Total commercial investor real estate mortgage $ 1,531 $ 1,015 $ 1,467 $ 830 $ 162 $ 123 $ 486 $ — $ (6) $ 5,608 September 30, 2021 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2021 2020 2019 2018 2017 Prior (In millions) Commercial investor real estate construction: Risk Rating: Pass $ 133 $ 295 $ 524 $ 79 $ 1 $ 2 $ 668 $ — $ (10) $ 1,692 Special Mention 1 8 3 — — — — — — 12 Substandard Accrual — — — — — — — — — — Non-accrual — — — — — — — — — — Total commercial investor real estate construction $ 134 $ 303 $ 527 $ 79 $ 1 $ 2 $ 668 $ — $ (10) $ 1,704 Total investor real estate $ 1,665 $ 1,318 $ 1,994 $ 909 $ 163 $ 125 $ 1,154 $ — $ (16) $ 7,312 Residential first mortgage: FICO scores Above 720 $ 3,148 $ 5,452 $ 1,248 $ 491 $ 694 $ 2,878 $ — $ — $ — $ 13,911 681-720 365 385 125 65 70 388 — — — 1,398 620-680 172 176 86 58 52 390 — — — 934 Below 620 28 47 44 47 48 471 — — — 685 Data not available 47 47 21 9 11 117 10 — 157 419 Total residential first mortgage $ 3,760 $ 6,107 $ 1,524 $ 670 $ 875 $ 4,244 $ 10 $ — $ 157 $ 17,347 Home equity lines: FICO scores Above 720 $ — $ — $ — $ — $ — $ — $ 2,855 $ 48 $ — $ 2,903 681-720 — — — — — — 398 12 — 410 620-680 — — — — — — 269 12 — 281 Below 620 — — — — — — 142 8 — 150 Data not available — — — — — — 98 4 29 131 Total home equity lines $ — $ — $ — $ — $ — $ — $ 3,762 $ 84 $ 29 $ 3,875 Home equity loans FICO scores Above 720 $ 430 $ 348 $ 176 $ 164 $ 239 $ 653 $ — $ — $ — $ 2,010 681-720 65 40 28 22 26 81 — — — 262 620-680 24 15 14 14 17 67 — — — 151 Below 620 4 3 6 8 11 49 — — — 81 Data not available 1 2 2 3 5 20 — — 19 52 Total home equity loans $ 524 $ 408 $ 226 $ 211 $ 298 $ 870 $ — $ — $ 19 $ 2,556 Indirect—vehicles: FICO scores Above 720 $ — $ — $ 12 $ 189 $ 75 $ 46 $ — $ — $ — $ 322 681-720 — — 3 29 12 9 — — — 53 620-680 — — 2 27 12 10 — — — 51 Below 620 — — 2 25 15 14 — — — 56 Data not available — — — 3 3 3 — — 9 18 Total indirect- vehicles $ — $ — $ 19 $ 273 $ 117 $ 82 $ — $ — $ 9 $ 500 September 30, 2021 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2021 2020 2019 2018 2017 Prior (In millions) Indirect—other consumer: FICO scores Above 720 $ 314 $ 311 $ 430 $ 260 $ 96 $ 60 $ — $ — $ — $ 1,471 681-720 58 53 109 74 28 17 — — — 339 620-680 11 14 49 41 17 11 — — — 143 Below 620 — 3 14 12 5 4 — — — 38 Data not available — — 3 3 1 1 — — 124 132 Total indirect- other consumer $ 383 $ 381 $ 605 $ 390 $ 147 $ 93 $ — $ — $ 124 $ 2,123 Consumer credit card: FICO scores Above 720 $ — $ — $ — $ — $ — $ — $ 642 $ — $ — $ 642 681-720 — — — — — — 236 — — 236 620-680 — — — — — — 189 — — 189 Below 620 — — — — — — 75 — — 75 Data not available — — — — — — 8 — (14) (6) Total consumer credit card $ — $ — $ — $ — $ — $ — $ 1,150 $ — $ (14) $ 1,136 Other consumer: FICO scores Above 720 $ 174 $ 131 $ 89 $ 41 $ 12 $ 3 $ 113 $ — $ — $ 563 681-720 56 33 22 8 2 1 53 — — 175 620-680 38 22 14 5 1 1 39 — — 120 Below 620 9 7 6 3 1 — 15 — — 41 Data not available 71 — — — — — 3 — 2 76 Total other consumer $ 348 $ 193 $ 131 $ 57 $ 16 $ 5 $ 223 $ — $ 2 $ 975 Total consumer loans $ 5,015 $ 7,089 $ 2,505 $ 1,601 $ 1,453 $ 5,294 $ 5,145 $ 84 $ 326 $ 28,512 Total Loans $ 17,105 $ 16,019 $ 10,051 $ 5,763 $ 3,976 $ 9,307 $ 20,765 $ 84 $ 200 $ 83,270 December 31, 2020 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2020 2019 2018 2017 2016 Prior (In millions) Commercial and industrial: Risk Rating: Pass (2) $ 12,260 $ 6,115 $ 3,550 $ 2,413 $ 1,166 $ 2,493 $ 12,138 $ — $ (39) $ 40,096 Special Mention 133 250 376 84 5 48 722 — — 1,618 Substandard Accrual 41 50 78 55 20 4 490 — — 738 Non-accrual 42 59 97 20 23 19 158 — — 418 Total commercial and industrial $ 12,476 $ 6,474 $ 4,101 $ 2,572 $ 1,214 $ 2,564 $ 13,508 $ — $ (39) $ 42,870 December 31, 2020 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2020 2019 2018 2017 2016 Prior (In millions) Commercial real estate mortgage—owner-occupied: Risk Rating: Pass $ 1,379 $ 882 $ 913 $ 547 $ 401 $ 801 $ 140 $ — $ (3) $ 5,060 Special Mention 18 31 23 22 10 44 6 — — 154 Substandard Accrual 3 38 16 16 4 15 2 — — 94 Non-accrual 14 23 19 21 6 14 — — — 97 Total commercial real estate mortgage—owner-occupied: $ 1,414 $ 974 $ 971 $ 606 $ 421 $ 874 $ 148 $ — $ (3) $ 5,405 Commercial real estate construction—owner-occupied: Risk Rating: Pass $ 61 $ 75 $ 39 $ 24 $ 24 $ 40 $ 9 $ — $ — $ 272 Special Mention 1 — — 2 2 — — — — 5 Substandard Accrual — 3 1 3 4 3 — — — 14 Non-accrual — — — 1 — 8 — — — 9 Total commercial real estate construction—owner-occupied: $ 62 $ 78 $ 40 $ 30 $ 30 $ 51 $ 9 $ — $ — $ 300 Total commercial $ 13,952 $ 7,526 $ 5,112 $ 3,208 $ 1,665 $ 3,489 $ 13,665 $ — $ (42) $ 48,575 Commercial investor real estate mortgage: Risk Rating: Pass $ 1,663 $ 1,243 $ 1,137 $ 252 $ 65 $ 162 $ 332 $ — $ (5) $ 4,849 Special Mention 5 77 76 15 — 7 — — — 180 Substandard Accrual 69 114 57 — 2 9 — — — 251 Non-accrual — 44 1 — — 1 68 — — 114 Total commercial investor real estate mortgage $ 1,737 $ 1,478 $ 1,271 $ 267 $ 67 $ 179 $ 400 $ — $ (5) $ 5,394 Commercial investor real estate construction: Risk Rating: Pass $ 224 $ 601 $ 266 $ 1 $ — $ 1 $ 679 $ — $ (11) $ 1,761 Special Mention 30 36 31 — — — 9 — — 106 Substandard Accrual 1 1 — — — — — — — 2 Non-accrual — — — — — — — — — — Total commercial investor real estate construction $ 255 $ 638 $ 297 $ 1 $ — $ 1 $ 688 $ — $ (11) $ 1,869 Total investor real estate $ 1,992 $ 2,116 $ 1,568 $ 268 $ 67 $ 180 $ 1,088 $ — $ (16) $ 7,263 Residential first mortgage: FICO scores Above 720 $ 5,564 $ 1,738 $ 809 $ 1,023 $ 1,279 $ 2,709 $ — $ — $ — $ 13,122 681-720 525 189 103 112 113 360 — — — 1,402 620-680 211 100 73 64 67 404 — — — 919 Below 620 31 44 50 51 60 499 — — — 735 Data not available 52 23 13 16 15 126 10 — 142 397 Total residential first mortgage $ 6,383 $ 2,094 $ 1,048 $ 1,266 $ 1,534 $ 4,098 $ 10 $ — $ 142 $ 16,575 December 31, 2020 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2020 2019 2018 2017 2016 Prior (In millions) Home equity lines: FICO scores Above 720 $ — $ — $ — $ — $ — $ — $ 3,334 $ 45 $ — $ 3,379 681-720 — — — — — — 492 10 — 502 620-680 — — — — — — 319 11 — 330 Below 620 — — — — — — 181 7 — 188 Data not available — — — — — — 107 3 30 140 Total home equity lines $ — $ — $ — $ — $ — $ — $ 4,433 $ 76 $ 30 $ 4,539 Home equity loans FICO scores Above 720 $ 417 $ 251 $ 233 $ 325 $ 304 $ 580 $ — $ — $ — $ 2,110 681-720 57 40 35 39 37 76 — — — 284 620-680 21 17 19 22 25 65 — — — 169 Below 620 2 7 9 13 15 52 — — — 98 Data not available 1 2 2 4 5 17 — — 21 52 Total home equity loans $ 498 $ 317 $ 298 $ 403 $ 386 $ 790 $ — $ — $ 21 $ 2,713 Indirect—vehicles: FICO scores Above 720 $ — $ 18 $ 305 $ 137 $ 92 $ 40 $ — $ — $ — $ 592 681-720 — 5 50 22 16 8 — — — 101 620-680 — 4 44 23 18 8 — — — 97 Below 620 — 3 42 26 24 14 — — — 109 Data not available — — 4 6 4 4 — — 17 35 Total indirect- vehicles $ — $ 30 $ 445 $ 214 $ 154 $ 74 $ — $ — $ 17 $ 934 Indirect—other consumer: FICO scores Above 720 $ 297 $ 721 $ 392 $ 138 $ 60 $ 31 $ — $ — $ — $ 1,639 681-720 39 173 116 41 18 9 — — — 396 620-680 9 73 63 27 12 6 — — — 190 Below 620 1 22 22 9 5 2 — — — 61 Data not available — 3 3 2 1 1 — — 135 145 Total indirect- other consumer $ 346 $ 992 $ 596 $ 217 $ 96 $ 49 $ — $ — $ 135 $ 2,431 Consumer credit card: FICO scores Above 720 $ — $ — $ — $ — $ — $ — $ 667 $ — $ — $ 667 681-720 — — — — — — 255 — — 255 620-680 — — — — — — 208 — — 208 Below 620 — — — — — — 91 — — 91 Data not available — — — — — — 7 — (15) (8) Total consumer credit card $ — $ — $ — $ — $ — $ — $ 1,228 $ — $ (15) $ 1,213 December 31, 2020 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2020 2019 2018 2017 2016 Prior (In millions) Other consumer: FICO scores Above 720 $ 209 $ 163 $ 84 $ 30 $ 7 $ 3 $ 117 $ — $ — $ 613 681-720 61 44 20 5 1 1 52 — — 184 620-680 34 28 13 4 1 1 42 — — 123 Below 620 11 11 6 3 1 — 19 — — 51 Data not available 46 1 — — — — 3 — 2 52 Total other consumer $ 361 $ 247 $ 123 $ 42 $ 10 $ 5 $ 233 $ — $ 2 $ 1,023 Total consumer loans $ 7,588 $ 3,680 $ 2,510 $ 2,142 $ 2,180 $ 5,016 $ 5,904 $ 76 $ 332 $ 29,428 Total Loans $ 23,532 $ 13,322 $ 9,190 $ 5,618 $ 3,912 $ 8,685 $ 20,657 $ 76 $ 274 $ 85,266 _________ (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) Commercial and industrial lending includes PPP lending in the 2020 and 2021 vintage years. 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 September 30, 2021 and December 31, 2020. Loans on non-accrual status with no related allowance included $150 million and $112 million of commercial and industrial loans as of September 30, 2021 and December 31, 2020, respectively. 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. September 30, 2021 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total Total Non-accrual Total (In millions) Commercial and industrial $ 26 $ 8 $ 3 $ 37 $ 41,389 $ 359 $ 41,748 Commercial real estate mortgage—owner-occupied 5 2 2 9 5,378 68 5,446 Commercial real estate construction—owner-occupied — 1 — 1 241 11 252 Total commercial 31 11 5 47 47,008 438 47,446 Commercial investor real estate mortgage — — — — 5,604 4 5,608 Commercial investor real estate construction — — — — 1,704 — 1,704 Total investor real estate — — — — 7,308 4 7,312 Residential first mortgage 71 29 112 212 17,310 37 17,347 Home equity lines 17 5 20 42 3,831 44 3,875 Home equity loans 6 4 13 23 2,549 7 2,556 Indirect—vehicles 6 2 2 10 500 — 500 Indirect—other consumer 7 4 3 14 2,123 — 2,123 Consumer credit card 7 5 11 23 1,136 — 1,136 Other consumer 11 1 2 14 975 — 975 Total consumer 125 50 163 338 28,424 88 28,512 $ 156 $ 61 $ 168 $ 385 $ 82,740 $ 530 $ 83,270 December 31, 2020 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total Total Non-accrual Total (In millions) Commercial and industrial $ 37 $ 22 $ 7 $ 66 $ 42,452 $ 418 $ 42,870 Commercial real estate mortgage—owner-occupied 4 1 1 6 5,308 97 5,405 Commercial real estate construction—owner-occupied 1 — — 1 291 9 300 Total commercial 42 23 8 73 48,051 524 48,575 Commercial investor real estate mortgage 3 — — 3 5,280 114 5,394 Commercial investor real estate construction — — — — 1,869 — 1,869 Total investor real estate 3 — — 3 7,149 114 7,263 Residential first mortgage 104 41 156 301 16,522 53 16,575 Home equity lines 24 11 19 54 4,493 46 4,539 Home equity loans 10 7 13 30 2,705 8 2,713 Indirect—vehicles 15 4 4 23 934 — 934 Indirect—other consumer 12 8 5 25 2,431 — 2,431 Consumer credit card 8 6 14 28 1,213 — 1,213 Other consumer 12 3 2 17 1,023 — 1,023 Total consumer 185 80 213 478 29,321 107 29,428 $ 230 $ 103 $ 221 $ 554 $ 84,521 $ 745 $ 85,266 TROUBLED DEBT RESTRUCTURINGS Regions regularly modifies commercial and investor real estate loans in order to facilitate a workout strategy. Similarly, Regions works to meet the individual needs of consumer borrowers to stem foreclosure through its CAP. Refer to Note 1 "Summary of Significant Accounting Policies" and Note 6 "Allowance for Credit Losses" in the Annual Report on Form 10-K for the year ended December 31, 2020 for additional information regarding the Company's TDRs, including their impact on the allowance and designation of TDRs in periods subsequent to the modification. As provided in the Consolidated Appropriations Act passed into law on December 27, 2020, which extended initial guidance provided in the CARES Act, certain loan modifications related to the COVID-19 pandemic beginning March 1, 2020 through the earlier of 60 days after the end of the pandemic or January 1, 2022 are eligible for relief from TDR classification. Regions elected this provision; therefore, modified loans that met the required guidelines for relief are not considered TDRs and are excluded from the disclosures below. The Consolidated Appropriations Act relief and short-term nature of most COVID-19 deferrals precluded the majority of Regions' COVID-19 loan modifications from being classified as TDRs as of September 30, 2021 and December 31, 2020. The following tables present the end of period balance for loans modified in a TDR during the periods presented by portfolio segment and class, and the financial impact of those modifications. The tables include modifications made to new TDRs, as well as renewals of existing TDRs. Three Months Ended September 30, 2021 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 18 $ 24 $ — Commercial real estate mortgage—owner-occupied 10 4 — Commercial real estate construction—owner-occupied 1 1 — Total commercial 29 29 — Commercial investor real estate mortgage 1 1 — Commercial investor real estate construction — — — Total investor real estate 1 1 — Residential first mortgage 99 16 2 Home equity lines 1 — — Home equity loans 33 3 — Consumer credit card 1 — — Indirect—vehicles and other consumer 16 1 — Total consumer 150 20 2 180 $ 50 $ 2 Three Months Ended September 30, 2020 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 26 $ 27 $ — Commercial real estate mortgage—owner-occupied 7 9 — Commercial real estate construction—owner-occupied — — — Total commercial 33 36 — Commercial investor real estate mortgage 2 36 — Commercial investor real estate construction 2 4 — Total investor real estate 4 40 — Residential first mortgage 94 32 4 Home equity lines — — — Home equity loans 9 1 — Consumer credit card 1 — — Indirect—vehicles and other consumer 11 — — Total consumer 115 33 4 152 $ 109 $ 4 Nine Months Ended September 30, 2021 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 59 $ 74 $ — Commercial real estate mortgage—owner-occupied 24 7 — Commercial real estate construction—owner-occupied 2 2 — Total commercial 85 83 — Commercial investor real estate mortgage 7 77 — Commercial investor real estate construction — — — Total investor real estate 7 77 — Residential first mortgage 435 77 7 Home equity lines 6 1 — Home equity loans 40 4 — Consumer credit card 1 — — Indirect—vehicles and other consumer 68 2 — Total consumer 550 84 7 642 $ 244 $ 7 Nine Months Ended September 30, 2020 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 119 $ 221 $ — Commercial real estate mortgage—owner-occupied 17 14 — Commercial real estate construction—owner-occupied 1 1 — Total commercial 137 236 — Commercial investor real estate mortgage 9 37 — Commercial investor real estate construction 3 4 — Total investor real estate 12 41 — Residential first mortgage 177 43 6 Home equity lines — — — Home equity loans 36 3 — Consumer credit card 12 — — Indirect—vehicles and other consumer 22 — — Total consumer 247 46 6 396 $ 323 $ 6 |
Servicing of Financial Assets
Servicing of Financial Assets | 9 Months Ended |
Sep. 30, 2021 | |
Transfers and Servicing of Financial Assets [Abstract] | |
Servicing of Financial Assets | NOTE 4. 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: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Carrying value, beginning of period $ 392 $ 249 $ 296 $ 345 Additions 39 32 116 67 Increase (decrease) in fair value: Due to change in valuation inputs or assumptions (3) — 49 (94) Economic amortization associated with borrower repayments (1) (18) (14) (51) (51) Carrying value, end of period $ 410 $ 267 $ 410 $ 267 ________ (1) "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns. Regions' MSR decay methodology is a discounted net cash flow approach. In the nine months ended 2021 and 2020, the Company purchased the rights to service residential mortgage loans on a flow basis for approximately $58 million and $35 million, respectively. 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) are as follows: September 30 2021 2020 (Dollars in millions) Unpaid principal balance $ 36,370 $ 33,740 Weighted-average CPR (%) 10.3 % 16.3 % Estimated impact on fair value of a 10% increase $ (30) $ (22) Estimated impact on fair value of a 20% increase $ (53) $ (40) Option-adjusted spread (basis points) 530 621 Estimated impact on fair value of a 10% increase $ (9) $ (6) Estimated impact on fair value of a 20% increase $ (18) $ (12) Weighted-average coupon interest rate 3.6 % 4.0 % Weighted-average remaining maturity (months) 294 283 Weighted-average servicing fee (basis points) 27.3 27.4 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. The following table presents servicing related fees, which includes contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of residential mortgage loans: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) (In millions) Servicing related fees and other ancillary income $ 26 $ 23 $ 75 $ 71 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 "Summary of Significant Accounting Policies" in the 2020 Annual Report on Form 10-K for additional information. Also see Note 11 for additional information. The table below presents an analysis of commercial MSRs under the amortization measurement method: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) (In millions) Carrying value, beginning of period $ 86 $ 64 $ 74 $ 59 Additions 5 11 24 21 Economic amortization associated with borrower repayments (1) (4) (3) (11) (8) Carrying value, end of period $ 87 $ 72 $ 87 $ 72 ________ (1) "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns. Regions periodically evaluates the commercial MSRs for impairment based on fair value. The estimated fair value of the commercial MSRs was approximately $96 million at September 30, 2021 and $81 million December 31, 2020. The following table presents servicing related fees, which includes contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of commercial mortgage loans: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) (In millions) Servicing related fees and other ancillary income $ 8 $ 4 $ 18 $ 14 |
Stockholders' Equity and Accumu
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) | NOTE 5. SHAREHOLDERS’ EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME PREFERRED STOCK The following table presents a summary of the non-cumulative perpetual preferred stock: September 30, 2021 December 31, 2020 Issuance Date Earliest Redemption Date Dividend Rate (1) Liquidation Amount Liquidation Preference per Share Liquidation preference per Depositary Share Ownership Interest per Depositary Share Carrying Amount Carrying Amount (Dollars in millions, except per share data) Series A (2) 11/1/2012 12/15/2017 6.375 % $ — $ 1,000 $ 25 1/40th $ — $ 387 Series B 4/29/2014 9/15/2024 6.375 % (3) 500 1,000 25 1/40th 433 433 Series C 4/30/2019 5/15/2029 5.700 % (4) 500 1,000 25 1/40th 490 490 Series D 6/5/2020 9/15/2025 5.750 % (5) 350 100,000 1,000 1/100th 346 346 Series E 5/4/2021 6/15/2026 4.450 % 400 1,000 25 1/40th 390 — $ 1,750 $ 1,659 $ 1,656 _________ (1) Dividends on all series of preferred stock, if declared, accrue and are payable quarterly in arrears. (2) The shares were fully redeemed on June 15, 2021. (3) 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 LIBOR plus 3.536%. (4) 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 LIBOR plus 3.148%. (5) 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. Regions completed the issuance of Series E preferred stock during the second quarter of 2021, The Company incurred $10 million of issuance costs associated with the transaction. The Company began paying quarterly dividends on September 15, 2021. The Series A preferred stock was redeemed in the second quarter of 2021. The Board declared a total of $62 million and $69 million in cash dividends on Series A, Series B, and Series C preferred stock during the first nine months of 2021 and 2020, respectively. The Board declared $15 million in cash dividends on Series D preferred stock during the first nine months of 2021; the initial quarterly dividend for Series D was declared in the third quarter of 2020 for $6 million. The initial quarterly dividend of $7 million for the Series E preferred stock was declared in the third quarter of 2021. Therefore, a total of $84 million in cash dividends on total preferred stock was declared in the first nine months of 2021 compared to the total of $75 million in cash dividends on total preferred stock for the same period in 2020. 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 Regions was not required to participate in the 2021 CCAR; the Company chose to participate in part to have the Federal Reserve re-evaluate Regions' SCB. Regions received the results of the voluntary test on June 28, 2021. The Federal Reserve communicated that the Company exceeded all minimum capital levels under the Federal Reserve's Supervisory Stress Test. Effective October 1, 2021, Regions' preliminary SCB requirement for the fourth quarter of 2021 through the third quarter of 2022 will be floored at 2.5 percent. As part of the Company's capital plan, on April 21, 2021, the Board authorized the repurchase of up to $2.5 billion of the Company's common stock, permitting purchases from the second quarter of 2021 through the first quarter of 2022. In the second quarter of 2021, Regions repurchased approximately 8.0 million shares of common stock under this plan which reduced shareholders' equity by $167 million. Included in these share repurchases were approximately 1.0 million shares that were repurchased as part of the amendment to the Company’s deferred investment plan for its directors. All of these shares were immediately retired upon repurchase and therefore, were not be included in treasury stock. The Company did not repurchase shares in either the first or third quarters of 2021 or throughout 2020. During the third quarter of 2020, the Federal Reserve mandated that banks must not increase their quarterly per share common dividend and implemented an earnings-based payout restriction in connection with the supervisory stress test, requiring the third quarter 2020 dividend to not exceed the average of the prior four quarters of net income excluding preferred dividends. This mandate was subsequently extended through the second quarter of 2021, but was lifted in the third quarter of 2021. The Board approved a common stock increase to $0.17 per share for the third quarter of 2021. Prior to the common stock increase, Regions declared $0.155 per share in dividends for both the first six months of 2021 and the first nine months of 2020. Therefore, Regions declared a total of $0.48 per common share for the first nine months of 2021 compared to a total of $0.465 per common share for the first nine months of 2020. ACCUMULATED OTHER COMPREHENSIVE INCOME The following tables present the balances and activity in AOCI on a pre-tax and net of tax basis for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, 2021 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ 871 $ (220) $ 651 Unrealized losses on securities transferred to held to maturity: Beginning balance $ (17) $ 4 $ (13) Reclassification adjustments for amortization of unrealized losses (2) 2 — 2 Ending balance $ (15) $ 4 $ (11) Unrealized gains (losses) on securities available for sale: Beginning balance $ 606 $ (153) $ 453 Unrealized gains (losses) arising during the period (99) 24 (75) Reclassification adjustments for securities (gains) losses realized in net income (3) (1) 1 — Change in AOCI from securities available for sale activity in the period (100) 25 (75) Ending balance $ 506 $ (128) $ 378 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 1,147 $ (289) $ 858 Unrealized holding gains (losses) on derivatives arising during the period 24 (6) 18 Reclassification adjustments for (gains) losses realized in net income (2) (108) 27 (81) Change in AOCI from derivative activity in the period (84) 21 (63) Ending balance $ 1,063 $ (268) $ 795 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (865) $ 218 $ (647) Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4) 21 (4) 17 Ending balance $ (844) $ 214 $ (630) Total other comprehensive income (loss) (161) 42 (119) Total accumulated other comprehensive income (loss), end of period $ 710 $ (178) $ 532 Three Months Ended September 30, 2020 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ 2,174 $ (548) $ 1,626 Unrealized losses on securities transferred to held to maturity: Beginning balance $ (27) $ 7 $ (20) Reclassification adjustments for amortization of unrealized losses (2) 4 (2) 2 Ending balance $ (23) $ 5 $ (18) Unrealized gains (losses) on securities available for sale: Beginning balance $ 1,116 $ (281) $ 835 Unrealized gains (losses) arising during the period (2) — (2) 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 (5) 1 (4) Ending balance $ 1,111 $ (280) $ 831 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 1,857 $ (468) $ 1,389 Unrealized holding gains (losses) on derivatives arising during the period 2 — 2 Reclassification adjustments for (gains) losses realized in net income (2) (94) 24 (70) Change in AOCI from derivative activity in the period (92) 24 (68) Ending balance $ 1,765 $ (444) $ 1,321 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (772) $ 194 $ (578) Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4) 11 (2) 9 Ending balance $ (761) $ 192 $ (569) Total other comprehensive income (loss) (82) 21 (61) Total accumulated other comprehensive income (loss), end of period $ 2,092 $ (527) $ 1,565 Nine Months Ended September 30, 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 of unrealized losses (2) 6 (1) 5 Ending balance $ (15) $ 4 $ (11) Unrealized gains (losses) on securities available for sale: Beginning balance $ 1,062 $ (268) $ 794 Unrealized gains (losses) arising during the period (553) 139 (414) 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 (556) 140 (416) Ending balance $ 506 $ (128) $ 378 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 1,610 $ (406) $ 1,204 Unrealized holding gains (losses) on active hedges arising during the period (233) 59 (174) Reclassification adjustments for (gains) losses realized in net income (2) (314) 79 (235) Change in AOCI from derivative activity in the period (547) 138 (409) Ending balance $ 1,063 $ (268) $ 795 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (892) $ 225 $ (667) Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4) 48 (11) 37 Ending balance $ (844) $ 214 $ (630) Total other comprehensive income (loss) (1,049) 266 (783) Total accumulated other comprehensive income (loss), end of period $ 710 $ (178) $ 532 Nine Months Ended September 30, 2020 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ (120) $ 30 $ (90) Unrealized losses on securities transferred to held to maturity: Beginning balance $ (29) $ 7 $ (22) Reclassification adjustments for amortization of unrealized losses (2) 6 (2) 4 Ending balance $ (23) $ 5 $ (18) Unrealized gains (losses) on securities available for sale: Beginning balance $ 274 $ (69) $ 205 Unrealized gains (losses) arising during the period 841 (212) 629 Reclassification adjustments for securities (gains) losses realized in net income (3) (4) 1 (3) Change in AOCI from securities available for sale activity in the period 837 (211) 626 Ending balance $ 1,111 $ (280) $ 831 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 430 $ (108) $ 322 Unrealized holding gains (losses) on derivatives arising during the period 1,498 (377) 1,121 Reclassification adjustments for (gains) losses realized in net income (2) (163) 41 (122) Change in AOCI from derivative activity in the period 1,335 (336) 999 Ending balance $ 1,765 $ (444) $ 1,321 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (795) $ 200 $ (595) Amounts reclassified for amortization of actuarial gains (losses) and settlements realized in net income (4) 34 (8) 26 Ending balance $ (761) $ 192 $ (569) Total other comprehensive income 2,212 (557) 1,655 Total accumulated other comprehensive income, end of period $ 2,092 $ (527) $ 1,565 _________ (1) The impact of all AOCI activity is shown net of the related tax impact, calculated using an effective tax rate of approximately 25%. (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 7 for additional details). |
Earnings (Loss) Per Common Shar
Earnings (Loss) Per Common Share | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Common Share | NOTE 6. EARNINGS PER COMMON SHARE The following table sets forth the computation of basic earnings per common share and diluted earnings per common share: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions, except per share amounts) Numerator: Net income $ 651 $ 530 $ 2,083 $ 478 Preferred stock dividends and other (1) (27) (29) (97) (75) Net income available to common shareholders $ 624 $ 501 $ 1,986 $ 403 Denominator: Weighted-average common shares outstanding—basic 955 960 958 959 Potential common shares 7 2 7 2 Weighted-average common shares outstanding—diluted 962 962 965 961 Earnings per common share: Basic $ 0.65 $ 0.52 $ 2.07 $ 0.42 Diluted 0.65 0.52 2.06 0.42 _________ (1) Preferred stock dividends and other for the nine months ended September 30, 2021 includes $13 million of issuance costs associated with the redemption of Series A preferred shares in the second quarter of 2021. The effects from the assumed exercise of 4 million in restricted stock units and awards and performance stock units for both the three months and nine months ended September 30, 2021 was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share. The effects from the assumed exercise of 9 million and 8 million in stock options, restricted stock united and awards and performance stock units for the three and nine months ended September 30, 2020, respectively, were not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per share. |
Pension and Other Postretiremen
Pension and Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2021 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |
Pension and Other Postretirement Benefits | NOTE 7. PENSION AND OTHER POSTRETIREMENT BENEFITS Regions' defined benefit pension plans cover certain employees as the pension plans are closed to new entrants. 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. Net periodic pension cost (credit) includes the following components: Qualified Plans Non-qualified Plans Total Three Months Ended September 30 2021 2020 2021 2020 2021 2020 (In millions) Service cost $ 9 $ 9 $ — $ 2 $ 9 $ 11 Interest cost 12 17 — 1 12 18 Expected return on plan assets (35) (37) — — (35) (37) Amortization of actuarial loss 12 9 1 2 13 11 Settlement charge — — 8 — 8 — Net periodic pension cost (credit) $ (2) $ (2) $ 9 $ 5 $ 7 $ 3 Qualified Plans Non-qualified Plans Total Nine Months Ended September 30 2021 2020 2021 2020 2021 2020 (In millions) Service cost $ 28 $ 26 $ 3 $ 4 $ 31 $ 30 Interest cost 36 49 1 3 37 52 Expected return on plan assets (106) (112) — — (106) (112) Amortization of actuarial loss 35 29 5 5 40 34 Settlement charge — — 8 — 8 — Net periodic pension cost (credit) $ (7) $ (8) $ 17 $ 12 $ 10 $ 4 The service cost component of net periodic pension cost (credit) 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 settlement charge relates to the settlement of liabilities under the SERP for certain plan participants in 2021. Regions' funding policy for the qualified plans is to contribute annually at least the amount required by IRS minimum funding standards. Regions made no contributions during the first nine months of 2021. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments and Hedging Activities | NOTE 8. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES The following tables present the notional amount and estimated fair value of derivative instruments on a gross basis. September 30, 2021 December 31, 2020 Notional Estimated Fair Value Notional Estimated Fair Value Gain (1) Loss (1) Gain (1) Loss (1) (In millions) Derivatives in fair value hedging relationships: Interest rate swaps $ 1,400 $ — $ 19 $ 2,100 $ 77 $ — Derivatives in cash flow hedging relationships: Interest rate swaps (2) 17,000 260 1 16,000 1,181 — Interest rate floors (3)(4) 3,500 178 — 5,750 430 — Total derivatives in cash flow hedging relationships 20,500 438 1 21,750 1,611 — Total derivatives designated as hedging instruments $ 21,900 $ 438 $ 20 $ 23,850 $ 1,688 $ — Derivatives not designated as hedging instruments: Interest rate swaps $ 79,155 $ 911 $ 953 $ 76,764 $ 1,492 $ 1,464 Interest rate options 15,329 54 20 13,806 90 28 Interest rate futures and forward commitments 3,040 13 5 4,270 11 26 Other contracts 9,415 216 217 9,924 68 80 Total derivatives not designated as hedging instruments $ 106,939 $ 1,194 $ 1,195 $ 104,764 $ 1,661 $ 1,598 Total derivatives $ 128,839 $ 1,632 $ 1,215 $ 128,614 $ 3,349 $ 1,598 Total gross derivative instruments, before netting $ 1,632 $ 1,215 $ 3,349 $ 1,598 Less: Netting adjustments (5) 991 1,159 2,428 1,545 Total gross derivative instruments, after netting (6) $ 641 $ 56 $ 921 $ 53 _________ (1) 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. (2) Includes accrued interest of $12 million at September 30, 2021 and $28 million at December 31, 2020, respectively. (3) Includes accrued interest of $9 million at September 30, 2021 and $12 million at December 31, 2020, respectively. (4) Estimated fair value includes premium of approximately $41 million as of September 30, 2021 and $83 million as of December 31, 2020 to be amortized over the remaining life. Approximately $32 million of the decrease since December 31, 2020 related to hedges that were terminated during the first nine months of 2021 and were not amortized into earnings as of the date of termination. (5) 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. (6) The gain amounts, which are not collateralized with cash or other assets or reserved for, represent the net credit risk on all trading and other derivative positions. As of September 30, 2021 and December 31, 2020, financial instruments posted of $24 million, for both periods, were not offset in the consolidated balance sheets. 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 "Summary of Significant Accounting Policies" of the Annual Report on Form 10-K for the year ended December 31, 2020, 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. These agreements involve the receipt of fixed-rate amounts in exchange for floating-rate interest payments over the life of the agreements. Regions enters into interest rate swap agreements to manage interest rate exposure on certain of the Company's fixed-rate available for sale debt securities. 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 swap and floor agreements to manage overall cash flow changes related to interest rate risk exposure on LIBOR-based loans. The agreements effectively modify the Company’s exposure to interest rate risk by utilizing receive fixed/pay LIBOR interest rate swaps and interest rate floors. As of September 30, 2021, Regions is hedging its exposure to the variability in future cash flows for forecasted transactions through 2025. During the nine months ended September 30, 2021, the Company terminated $2.3 billion in notional of floor hedges. During the three and nine months ended September 30, 2021, the Company terminated $5.0 billion and $10.6 billion, respectively, in notional of cash flow swap hedges. The following table presents the pre-tax impact of terminated cash flow hedges on AOCI. The balance of terminated cash flow hedges in AOCI will be amortized into earnings through 2026. Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Unrealized gains on terminated hedges included in AOCI- Beginning $ 494 $ 68 $ 121 $ 78 Unrealized gains on terminated hedges arising during the period 243 62 658 56 Reclassification adjustments for amortization of unrealized (gains) into net income (49) (3) (91) (7) Unrealized gains on terminated hedges included in AOCI-Ending $ 688 $ 127 $ 688 $ 127 Regions expects to reclassify into earnings approximately $341 million in pre-tax income due to the receipt or payment of interest payments and floor premium amortization on all cash flow hedges within the next twelve months. Included in this amount is $259 million in pre-tax net gains related to the amortization of discontinued cash flow hedges. 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 effected: Three Months Ended September 30, 2021 Interest Income Interest Expense Loans, Including Fees Long-term Borrowings (In millions) Total amounts presented in the consolidated statements of income $ 847 $ 26 Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 3 Recognized on derivatives — (11) Recognized on hedged items — 11 Net income recognized on fair value hedges $ — $ 3 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 108 $ — Income (expense) recognized on cash flow hedges $ 108 $ — Three Months Ended September 30, 2020 Interest Income Interest Expense Loans, Including Fees Long-term Borrowings (In millions) Total amounts presented in the consolidated statements of income $ 903 $ 39 Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 12 Recognized on derivatives — (12) Recognized on hedged items — 12 Net income recognized on fair value hedges $ — $ 12 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 94 $ — Income (expense) recognized on cash flow hedges $ 94 $ — Nine Months Ended September 30, 2021 Interest Income Interest Expense Loans, Including Fees Long-term Borrowings (In millions) Total amounts presented in the consolidated statements of income $ 2,550 $ 79 Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 17 Recognized on derivatives — (37) Recognized on hedged items — 37 Income (expense) recognized on fair value hedges $ — $ 17 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 314 $ — Income (expense) recognized on cash flow hedges $ 314 $ — Nine Months Ended September 30, 2020 Interest Income Interest Expense Loans, Including Fees Long-term Borrowings (In millions) Total amounts presented in the consolidated statements of income $ 2,704 $ 147 Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 27 Recognized on derivatives — 65 Recognized on hedged items — (65) Income (expense) recognized on fair value hedges $ — $ 27 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 163 $ — Income (expense) recognized on cash flow hedges $ 163 $ — ___ (1) See Note 5 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. September 30, 2021 December 31, 2020 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) Long-term borrowings $ (1,376) $ 21 $ (2,171) $ (64) 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 fee 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 September 30, 2021 and December 31, 2020, Regions had $695 million and $924 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 September 30, 2021 and December 31, 2020, Regions had $1.4 billion and $1.9 billion, 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 has 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 began using 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 September 30, 2021 and December 31, 2020, the total notional amount related to these contracts was $4.3 billion and $4.1 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: Three Months Ended September 30 Nine Months Ended September 30 Derivatives Not Designated as Hedging Instruments 2021 2020 2021 2020 (In millions) Capital markets income: Interest rate swaps $ 5 $ 15 $ 25 $ 7 Interest rate options 8 (1) 25 31 Interest rate futures and forward commitments 2 4 14 11 Other contracts 1 2 8 2 Total capital markets income 16 20 72 51 Mortgage income: Interest rate swaps (8) (6) (46) 98 Interest rate options (9) 12 (24) 38 Interest rate futures and forward commitments 6 11 17 12 Total mortgage income (11) 17 (53) 148 $ 5 $ 37 $ 19 $ 199 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 2022 and 2029. Swap participations, whereby Regions has sold credit protection have maturities between 2021 and 2038. 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 September 30, 2021 was approximately $476 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 September 30, 2021 and 2020 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 September 30, 2021 and December 31, 2020, were $109 million and $74 million, respectively, for which Regions had posted collateral of $108 million and $74 million, respectively, in the normal course of business. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 9. FAIR VALUE MEASUREMENTS See Note 1 "Summary of Significant Accounting Policies" to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2020 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 and non-recurring basis: September 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 (1) Total Estimated Fair Value Level 1 Level 2 Level 3 (1) Total Estimated Fair Value (In millions) Recurring fair value measurements Debt securities available for sale: U.S. Treasury securities $ 784 $ — $ — $ 784 $ 183 $ — $ — $ 183 Federal agency securities — 97 — 97 — 105 — 105 Mortgage-backed securities (MBS): Residential agency — 19,685 — 19,685 — 19,076 — 19,076 Residential non-agency — — 1 1 — — 1 1 Commercial agency — 6,385 — 6,385 — 5,999 — 5,999 Commercial non-agency — 564 — 564 — 586 — 586 Corporate and other debt securities — 1,469 1 1,470 — 1,200 4 1,204 Total debt securities available for sale $ 784 $ 28,200 $ 2 $ 28,986 $ 183 $ 26,966 $ 5 $ 27,154 Loans held for sale $ — $ 857 $ — $ 857 $ — $ 1,446 $ — $ 1,446 Marketable equity securities $ 507 $ — $ — $ 507 $ 388 $ — $ — $ 388 Residential mortgage servicing rights $ — $ — $ 410 $ 410 $ — $ — $ 296 $ 296 Derivative assets (2) : Interest rate swaps $ — $ 1,171 $ — $ 1,171 $ — $ 2,750 $ — $ 2,750 Interest rate options — 212 20 232 — 477 43 520 Interest rate futures and forward commitments — 13 — 13 — 11 — 11 Other contracts — 216 — 216 2 65 1 68 Total derivative assets $ — $ 1,612 $ 20 $ 1,632 $ 2 $ 3,303 $ 44 $ 3,349 Equity investments $ — $ — $ — $ — $ — $ 74 $ — $ 74 Derivative liabilities (2) : Interest rate swaps $ — $ 973 $ — $ 973 $ — $ 1,464 $ — $ 1,464 Interest rate options — 20 — 20 — 28 — 28 Interest rate futures and forward commitments — 5 — 5 — 26 — 26 Other contracts — 214 3 217 2 72 6 80 Total derivative liabilities $ — $ 1,212 $ 3 $ 1,215 $ 2 $ 1,590 $ 6 $ 1,598 Non-recurring fair value measurements (3) Loans held for sale $ — $ — $ 9 $ 9 $ — $ — $ 4 $ 4 Equity investments without a readily determinable fair value — — 25 25 — — 12 12 Foreclosed property and other real estate — — 10 10 — — 5 5 _________ (1) All following disclosures related to Level 3 recurring and non-recurring assets do not include those deemed to be immaterial. (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. (3) From time to time, certain assets may be recorded at fair value on a non-recurring basis, and the related fair value adjustments disclosed are typically a result of the application of lower of cost or fair value accounting or a write-down occurring during the periods indicated. 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. Further, derivatives included in Levels 2 and 3 are used by ALCO in a holistic approach to managing price fluctuation risks. The following tables illustrate rollforwards for residential mortgage servicing rights, which are the only material assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2021 and 2020, respectively. Residential mortgage servicing rights Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Carrying value, beginning of period $ 392 $ 249 $ 296 $ 345 Total realized/unrealized gains (losses) included in earnings (1) (21) (14) (2) (145) Additions 39 32 116 67 Carrying value, end of period $ 410 $ 267 $ 410 $ 267 _________ (1) Included in mortgage income. Amounts presented exclude offsetting impact from related derivatives. The following table presents the fair value adjustments related to non-recurring fair value measurements: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Loans held for sale $ (1) $ (1) $ (1) $ (6) Equity investments without a readily determinable fair value 13 — 14 (3) Foreclosed property and other real estate (4) (3) (4) (13) The following tables present detailed information regarding material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of September 30, 2021, and December 31, 2020. 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 September 30, 2021, and December 31, 2020, are included. Following the tables are descriptions of the valuation techniques and the sensitivity of the techniques to changes in the significant unobservable inputs. September 30, 2021 Level 3 Estimated Fair Value at September 30, 2021 Valuation Unobservable Quantitative Range of (Dollars in millions) Recurring fair value measurements: Residential mortgage servicing rights (1) $410 Discounted cash flow Weighted-average CPR (%) 6.9% - 21.3% (10.3%) OAS (%) 4.2% - 9.6% (5.3%) _________ (1) See Note 4 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. December 31, 2020 Level 3 Estimated Fair Value at December 31, 2020 Valuation Unobservable Quantitative Range of (Dollars in millions) Recurring fair value measurements: Residential mortgage servicing rights (1) $296 Discounted cash flow Weighted-average CPR (%) 8.1% - 31.2% (15.6%) OAS (%) 4.8% - 9.5% (5.6%) _________ (1) See Note 7 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2020 for additional disclosures related to assumptions used in the fair value calculation for 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 4. FAIR VALUE OPTION Regions has elected the fair value option for all eligible agency residential mortgage loans and certain commercial loans originated with the intent to sell. These elections allow 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. Regions has not elected the fair value option for other loans held for sale primarily because they are not economically hedged using derivative instruments. 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 in the consolidated balance sheets. The Company also elected to measure certain commercial 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 commercial loans held for sale was immaterial at September 30, 2021 and December 31, 2020. The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential first mortgage loans held for sale measured at fair value: September 30, 2021 December 31, 2020 Aggregate Aggregate Aggregate Fair Aggregate Aggregate Aggregate Fair (In millions) Residential first mortgage loans held for sale, at fair value $ 848 $ 822 $ 26 $ 1,439 $ 1,362 $ 77 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 in the consolidated statements of income. The following table details net gains and losses resulting from changes in fair value of these loans, which were recorded in mortgage income in the consolidated statements of income during the three and nine months ended September 30, 2021 and 2020. 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. Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Net gains (losses) resulting for the change in fair value of mortgage loans held for sale $ (10) $ 7 $ (50) $ 37 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 September 30, 2021 are as follows: September 30, 2021 Carrying Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 27,507 $ 27,507 $ 27,507 $ — $ — Debt securities held to maturity 945 1,010 — 1,010 — Debt securities available for sale 28,986 28,986 784 28,200 2 Loans held for sale 934 934 — 925 9 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 80,403 80,800 — — 80,800 Other earning assets (4) 1,149 1,149 507 642 — Derivative assets 1,632 1,632 — 1,612 20 Financial liabilities: Derivative liabilities 1,215 1,215 — 1,212 3 Deposits 132,039 132,046 — 132,046 — Long-term borrowings 2,451 2,917 — 2,886 31 Loan commitments and letters of credit 102 102 — — 102 _________ (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 premium on the loan portfolio's net carrying amount at September 30, 2021 was $397 million or 0.5 percent. (3) Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.4 billion at September 30, 2021. (4) Excluded from this table is the operating lease carrying amount of $120 million at September 30, 2021 . 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, 2020 are as follows: December 31, 2020 Carrying Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 17,956 $ 17,956 $ 17,956 $ — $ — Debt securities held to maturity 1,122 1,215 — 1,215 — Debt securities available for sale 27,154 27,154 183 26,966 5 Loans held for sale 1,905 1,905 — 1,901 4 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 81,597 82,773 — — 82,773 Other earning assets (4) 1,017 1,017 388 629 — Derivative assets 3,349 3,349 2 3,303 44 Equity investments 74 74 — 74 — Financial liabilities: Derivative liabilities 1,598 1,598 2 1,590 6 Deposits 122,479 122,511 — 122,511 — Long-term borrowings 3,569 4,063 — 3,592 471 Loan commitments and letters of credit 151 151 — — 151 _________ (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 premium on the loan portfolio's net carrying amount at December 31, 2020 was $1.2 billion or 1.4 percent. (3) Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.5 billion at December 31, 2020. (4) Excluded from this table is the operating lease carrying amount of $200 million at December 31, 2020. |
Business Segment Information
Business Segment Information | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Business Segment Information | NOTE 10. 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. Additional information about the Company's reportable segments is included in Regions' Annual Report on Form 10-K for the year ended December 31, 2020. 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 period was updated to reflect these enhancements. In the first quarter of 2021, the net interest income allocation methodology was enhanced. All net interest income including the FTP offset, activities of the treasury function, securities portfolio and interest rate risk activities is allocated to the three reporting segments. The following tables present financial information for each reportable segment for the period indicated. Three Months Ended September 30, 2021 Corporate Bank Consumer Wealth Other Consolidated (In millions) Net interest income $ 444 $ 486 $ 35 $ — $ 965 Provision for (benefit from) credit losses 75 58 2 (290) (155) Non-interest income 208 307 96 38 649 Non-interest expense 274 531 98 35 938 Income before income taxes 303 204 31 293 831 Income tax expense 76 51 8 45 180 Net income 227 153 23 248 651 Average assets $ 58,644 $ 33,003 $ 2,030 $ 61,953 $ 155,630 Three Months Ended September 30, 2020 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 445 $ 510 $ 33 $ — $ 988 Provision for credit losses 83 71 3 (44) 113 Non-interest income 159 343 87 66 655 Non-interest expense 248 521 85 42 896 Income before income taxes 273 261 32 68 634 Income tax expense (benefit) 68 65 8 (37) 104 Net income 205 196 24 105 530 Average assets $ 63,464 $ 34,570 $ 2,014 $ 42,797 $ 142,845 Nine Months Ended September 30, 2021 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 1,321 $ 1,471 $ 103 $ — $ 2,895 Provision for (benefit from) credit losses 230 183 8 (1,055) (634) Non-interest income 564 952 288 105 1,909 Non-interest expense 802 1,596 283 83 2,764 Income before income taxes 853 644 100 1,077 2,674 Income tax expense 213 161 25 192 591 Net income 640 483 75 885 2,083 Average assets $ 59,315 $ 33,498 $ 2,037 $ 57,470 $ 152,320 Nine Months Ended September 30, 2020 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 1,227 $ 1,557 $ 104 $ — $ 2,888 Provision for credit losses 210 234 9 915 1,368 Non-interest income 444 944 254 71 1,713 Non-interest expense 741 1,529 257 129 2,656 Income (loss) before income taxes 720 738 92 (973) 577 Income tax expense (benefit) 180 185 23 (289) 99 Net income (loss) 540 553 69 (684) 478 Average assets $ 61,374 $ 34,531 $ 2,028 $ 37,905 $ 135,838 |
Commitments, Contingencies and
Commitments, Contingencies and Guarantees | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Guarantees | NOTE 11. 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. Refer to Note 24 "Commitments, Contingencies and Guarantees" in the Annual Report on Form 10-K for the year ended December 31, 2020 for more information regarding these instruments. Credit risk associated with these instruments is represented by the contractual amounts indicated in the following table: September 30, 2021 December 31, 2020 (In millions) Unused commitments to extend credit $ 60,653 $ 56,644 Standby letters of credit 1,783 1,742 Commercial letters of credit 52 132 Liabilities associated with standby letters of credit 31 25 Assets associated with standby letters of credit 32 25 Reserve for unfunded credit commitments 71 126 LEGAL CONTINGENCIES Regions and its subsidiaries are subject to loss contingencies related to litigation, claims, investigations and legal and administrative cases and proceedings arising in the ordinary course of business. Regions evaluates these contingencies based on information currently available, including advice of counsel. Regions establishes accruals for those matters when a loss contingency is considered probable and the related amount is reasonably estimable. Any accruals are periodically reviewed and may be adjusted as circumstances change. Some of Regions' exposure with respect to loss contingencies may be offset by applicable insurance coverage. In determining the amounts of any accruals or estimates of possible loss contingencies however, 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. When it is practicable, Regions estimates possible loss contingencies, whether or not there is an accrued probable loss. When Regions is able to estimate such possible losses, and when it is reasonably possible Regions could incur losses in excess of amounts accrued, Regions discloses the aggregate estimation of such possible losses. Regions currently estimates that it is reasonably possible that it may experience losses in excess of what Regions has accrued in an aggregate amount of up to approximately $20 million as of September 30, 2021, with it also being reasonably possible that Regions could incur no losses in excess of amounts accrued. However, as available information changes, the matters for which Regions is able to estimate, as well as the estimates themselves will be adjusted accordingly. Assessments of litigation and claims exposure are difficult because they involve inherently unpredictable factors including, but not limited to, the following: whether the proceeding is in the early stages; whether damages 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 has begun or is not complete; whether meaningful settlement discussions have commenced; and whether the lawsuit involves class allegations. Assessments of class action litigation, which is generally more complex than other types of litigation, are particularly difficult, especially in the early stages of the proceeding when it is not known whether a class will be certified or how a potential class, if certified, will be defined. As a result, Regions may be unable to estimate reasonably possible losses with respect to some of the matters disclosed below, and the aggregated estimated amount discussed above may not include an estimate for every matter disclosed below. Regions is involved in formal and informal information-gathering requests, investigations, reviews, examinations and proceedings by various governmental regulatory agencies, law enforcement authorities and self-regulatory bodies regarding Regions’ business, Regions' business practices and policies, and the conduct of persons with whom Regions does business. As previously disclosed, Regions is cooperating with an investigation by the CFPB into certain of Regions' overdraft practices and policies. Additional inquiries will arise from time to time. In connection with those inquiries, Regions receives document requests, subpoenas and other requests for information. The inquiries could develop into administrative, civil or criminal proceedings or enforcement actions that could result in consequences that have a material effect on Regions' consolidated financial position, results of operations or cash flows as a whole. Such consequences could include adverse judgments, findings, settlements, penalties, fines, orders, injunctions, restitution, or alterations in our business practices, and could result in additional expenses and collateral costs, including reputational damage. While the final outcome of litigation and claims exposures or of any inquiries is inherently unpredictable, management is currently of the opinion that the outcome of pending and threatened litigation and inquiries will not have a material effect on Regions’ business, consolidated financial position, results of operations or cash flows as a whole. However, in the event of unexpected future developments, it is reasonably possible that an adverse outcome in any of the matters discussed above could be material to Regions’ business, consolidated financial position, results of operations or cash flows for any particular reporting period of occurrence. GUARANTEES FANNIE MAE DUS LOSS SHARE GUARANTEE Regions is a DUS lender. 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 for the majority of its DUS servicing portfolio. At September 30, 2021 and December 31, 2020, the Company's DUS servicing portfolio totaled approximately $4.8 billion and $4.5 billion, respectively. Regions' maximum quantifiable contingent liability related to its loss share guarantee was approximately $1.6 billion and $1.5 billion at September 30, 2021 and December 31, 2020, respectively. 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 approximately $5 million at both September 30, 2021 and December 31, 2020. Refer to Note 1 "Summary of Significant Accounting Policies" in the Annual Report on Form 10-K for the year ended December 31, 2020, for additional information. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Recent Accounting Pronouncements | NOTE 12. RECENT ACCOUNTING PRONOUNCEMENTS Standard Description Required Date of Adoption Effect on Regions' financial statements or other significant matters Standards Adopted (or partially adopted) in 2021 ASU 2019-12 Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes The amendments in this Update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. January 1, 2021 The adoption of this guidance did not have a material impact. ASU 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) The amendments clarify the interaction of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. January 1, 2021 The adoption of this guidance did not have a material impact. ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs The amendments in this Update were issued to clarify that entities should reevaluate at each reporting period whether callable debt securities are within the scope of the guidance in Topic 310-20, which requires the premium on such debt securities to be amortized to the next call date. January 1, 2021 The adoption of this guidance did not have a material impact. ASU 2020-10, Codification Improvements This Update was issued to make minor technical corrections and improvements to the Codification as part of an ongoing FASB project to clarify guidance and correct inconsistent application of unclear guidance. The ASU codifies in Section 50 (Disclosure) of various Codification Topics the disclosure guidance that includes an option to provide certain information either on the face of the financial statements or in notes to the financial statements that was previously codified only in Section 45 (Other Presentation Matters). It also amends various Codification Topics to clarify guidance that may have been unclear when originally codified and that has resulted in inconsistent application. January 1, 2021 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 (or partially adopted) in 2021 ASU 2021-01 Reference Rate Reform (Topic 848) The Update was issued to clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to contracts that are affected by the discounting transition. Specifically, certain provisions in Topic 848, if elected by an entity, would apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. Amendments in this ASU to the expedients and exceptions in Topic 848 are included to capture the incremental consequences of the scope refinement and to tailor the existing guidance to derivative instruments affected by the discounting transition. The Update is effective upon issuance and can be applied through December 31, 2022 The adoption of this guidance did not have a material impact. ASU 2021-06 Presentation of Financial Statements (Topic 205), Financial Services—Depository and Lending (Topic 942), and Financial Services— Investment Companies (Topic 946) The FASB issued this Update to amend certain guidance pursuant to SEC rulemaking, including amendments to financial disclosures about acquired and disposed businesses and updates of statistical disclosures required for banking and savings loan registrants. The Update is 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 Not Yet Adopted ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) This Update simplifies accounting for convertible instruments by removing certain separation models. Additionally, it revises and clarifies guidance on the derivatives scope exception to make the exception easier to apply. January 1, 2022 Regions is evaluating the impact upon adoption; however, the impact is not expected to be material. ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) The Update clarified how an issuer should account for modifications made to equity-classified written call options (i.e. a warrant to purchase the issuer’s common stock). The guidance in the Update requires the issuer to treat a modification of an equity-classified warrant that does not cause the warrant to become liability-classified as an exchange of the original warrant for a new warrant. This guidance applies whether the modification is structured as an amendment to the terms and conditions of the warrant or as termination of the original warrant and issuance of a new warrant. January 1, 2022 Regions is evaluating the impact upon adoption; however, the impact is not expected to be material. ASU 2021-05 Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments The Board issued this ASU to amend the lessor lease classification guidance under ASC 842. Under the amendments, a lessor must classify a lease that includes variable lease payments that do not depend on an index or rate as an operating lease if it would otherwise be classified as a sales-type or direct financing lease and would result in the recognition of a selling loss at a lease commencement. The amendments address concerns raised during the FASB’s post implementation review that recognizing an immediate loss for these leases, as would otherwise be required January 1, 2022 Regions is evaluating the impact upon adoption; however, the impact is not expected to be material. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule Of Amortized Cost, Gross Unrealized Gains and Losses, And Estimated Fair Value Of Debt Securities Available For Sale And Debt Securities Held To Maturity | 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: September 30, 2021 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 $ 405 $ — $ (14) $ 391 $ 25 $ — $ 416 Commercial agency 555 — (1) 554 40 — 594 $ 960 $ — $ (15) $ 945 $ 65 $ — $ 1,010 Debt securities available for sale: U.S. Treasury securities $ 783 $ 2 $ (1) $ 784 $ 784 Federal agency securities 96 2 (1) 97 97 Mortgage-backed securities: Residential agency 19,414 404 (133) 19,685 19,685 Residential non-agency 1 — — 1 1 Commercial agency 6,207 219 (41) 6,385 6,385 Commercial non-agency 557 7 — 564 564 Corporate and other debt securities 1,422 49 (1) 1,470 1,470 $ 28,480 $ 683 $ (177) $ 28,986 $ 28,986 December 31, 2020 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 $ 554 $ — $ (19) $ 535 $ 34 $ — $ 569 Commercial agency 589 — (2) 587 59 — 646 $ 1,143 $ — $ (21) $ 1,122 $ 93 $ — $ 1,215 Debt securities available for sale: U.S. Treasury securities $ 178 $ 5 $ — $ 183 $ 183 Federal agency securities 102 3 — 105 105 Mortgage-backed securities: Residential agency 18,455 625 (4) 19,076 19,076 Residential non-agency 1 — — 1 1 Commercial agency 5,659 346 (6) 5,999 5,999 Commercial non-agency 571 15 — 586 586 Corporate and other debt securities 1,126 78 — 1,204 1,204 $ 26,092 $ 1,072 $ (10) $ 27,154 $ 27,154 _________ (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 Debt Securities Available For Sale And Debt 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 September 30, 2021, 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 $ 405 $ 416 Commercial agency 555 594 $ 960 $ 1,010 Debt securities available for sale: Due in one year or less $ 324 $ 327 Due after one year through five years 1,098 1,129 Due after five years through ten years 765 779 Due after ten years 114 116 Mortgage-backed securities: Residential agency 19,414 19,685 Residential non-agency 1 1 Commercial agency 6,207 6,385 Commercial non-agency 557 564 $ 28,480 $ 28,986 |
Schedule Of Gross Unrealized Losses And Estimated Fair Value Of Debt Securities Available For Sale and Held to Maturity | The following tables present gross unrealized losses and the related estimated fair value of debt securities available for sale at September 30, 2021, and December 31, 2020. These securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more. September 30, 2021 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Debt securities available for sale: U.S. Treasury securities $ 360 $ (1) $ 4 $ — $ 364 $ (1) Federal agency securities 64 (1) — — 64 (1) Mortgage-backed securities: Residential agency $ 7,849 $ (128) $ 220 $ (5) $ 8,069 $ (133) Commercial agency 1,594 (28) 354 (13) 1,948 (41) Corporate and other debt securities 328 (1) — — 328 (1) $ 10,195 $ (159) $ 578 $ (18) $ 10,773 $ (177) December 31, 2020 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Debt securities available for sale: Mortgage-backed securities: Residential agency $ 914 $ (4) $ 101 $ — $ 1,015 $ (4) Commercial agency 819 (6) — — 819 (6) $ 1,733 $ (10) $ 101 $ — $ 1,834 $ (10) |
Loans and the Allowance for C_2
Loans and the Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income: September 30, 2021 December 31, 2020 (In millions) Commercial and industrial $ 41,748 $ 42,870 Commercial real estate mortgage—owner-occupied 5,446 5,405 Commercial real estate construction—owner-occupied 252 300 Total commercial 47,446 48,575 Commercial investor real estate mortgage 5,608 5,394 Commercial investor real estate construction 1,704 1,869 Total investor real estate 7,312 7,263 Residential first mortgage 17,347 16,575 Home equity lines 3,875 4,539 Home equity loans 2,556 2,713 Indirect—vehicles 500 934 Indirect—other consumer 2,123 2,431 Consumer credit card 1,136 1,213 Other consumer 975 1,023 Total consumer 28,512 29,428 Total loans, net of unearned income $ 83,270 $ 85,266 |
Analysis of the Allowance for Credit Losses by Portfolio Segment | The following tables present analyses of the allowance by portfolio segment for the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, 2021 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, July 1, 2021 $ 858 $ 91 $ 648 $ 1,597 Provision for (benefit from) loan losses (122) (3) (14) (139) Loan losses: Charge-offs (22) — (37) (59) Recoveries 16 1 12 29 Net loan (losses) recoveries (6) 1 (25) (30) Allowance for loan losses, September 30, 2021 730 89 609 1,428 Reserve for unfunded credit commitments, July 1, 2021 61 13 13 87 Provision for (benefit from) unfunded credit commitments (7) (5) (4) (16) Reserve for unfunded credit commitments, September 30, 2021 54 8 9 71 Allowance for credit losses, September 30, 2021 $ 784 $ 97 $ 618 $ 1,499 Three Months Ended September 30, 2020 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, July 1, 2020 $ 1,271 $ 160 $ 845 $ 2,276 Provision for (benefit from) loan losses 59 30 24 113 Loan losses: Charge-offs (86) — (53) (139) Recoveries 11 — 15 26 Net loan (losses) recoveries (75) — (38) (113) Allowance for loan losses, September 30, 2020 1,255 190 831 2,276 Reserve for unfunded credit commitments, July 1, 2020 107 27 15 149 Provision for (benefit from) unfunded credit commitments 26 (22) (4) — Reserve for unfunded credit commitments, September 30, 2020 133 5 11 149 Allowance for credit losses, September 30, 2020 $ 1,388 $ 195 $ 842 $ 2,425 Nine Months Ended September 30, 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 (408) (78) (93) (579) Loan losses: Charge-offs (105) (19) (132) (256) Recoveries 47 3 46 96 Net loan (losses) recoveries (58) (16) (86) (160) Allowance for loan losses, September 30, 2021 730 89 609 1,428 Reserve for unfunded credit commitments, January 1, 2021 97 14 15 126 Provision for (benefit from) unfunded credit commitments (43) (6) (6) (55) Reserve for unfunded credit commitments, September 30, 2021 54 8 9 71 Allowance for credit losses, September 30, 2021 $ 784 $ 97 $ 618 $ 1,499 Nine Months Ended September 30, 2020 Commercial Investor Real Consumer Total (In millions) Allowance for loan losses, December 31, 2019 $ 537 $ 45 $ 287 $ 869 Cumulative change in accounting guidance (3) 7 434 438 Allowance for loan losses, January 1, 2020 (adjusted for change in accounting guidance) $ 534 $ 52 $ 721 $ 1,307 Provision for (benefit from) loan losses 932 137 258 1,327 Initial allowance on acquired PCD loans 60 — — 60 Loan losses: Charge-offs (299) — (188) (487) Recoveries 28 1 40 69 Net loan (losses) recoveries (271) 1 (148) (418) Allowance for loan losses, September 30, 2020 1,255 190 831 2,276 Reserve for unfunded credit commitments, December 31, 2019 41 4 — 45 Cumulative change in accounting guidance 36 13 14 63 Reserve for unfunded credit commitments, January 1, 2020 (adjusted for change in accounting guidance) 77 17 14 108 Provision (credit) for unfunded credit losses 56 (12) (3) 41 Reserve for unfunded credit commitments, September 30, 2020 133 5 11 149 Allowance for credit losses, September 30, 2020 $ 1,388 $ 195 $ 842 $ 2,425 |
Financing Receivable Credit Quality Indicators | The following tables present applicable credit quality indicators for the loan portfolio segments and classes, excluding loans held for sale, by vintage year as of September 30, 2021 and December 31, 2020. 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. Refer to Note 6 "Allowance for Credit Losses" in the Annual Report on Form 10-K for the year ended December 31, 2020 for more information regarding Regions' credit quality indicators. September 30, 2021 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2021 2020 2019 2018 2017 Prior (In millions) Commercial and industrial: Risk Rating: Pass (2) $ 9,076 $ 6,132 $ 4,429 $ 2,155 $ 1,813 $ 2,835 $ 13,312 $ — $ (105) $ 39,647 Special Mention 39 80 187 177 $ 24 $ 77 515 — — 1,099 Substandard Accrual 74 45 60 100 $ 23 $ 9 332 — — 643 Non-accrual 73 25 54 11 $ 14 $ 17 165 — — 359 Total commercial and industrial $ 9,262 $ 6,282 $ 4,730 $ 2,443 $ 1,874 $ 2,938 $ 14,324 $ — $ (105) $ 41,748 Commercial real estate mortgage—owner-occupied: Risk Rating: Pass $ 1,114 $ 1,213 $ 740 $ 734 $ 425 $ 845 $ 139 $ — $ (5) $ 5,205 Special Mention 3 41 4 19 6 18 1 — — 92 Substandard Accrual 1 8 38 8 9 17 — — — 81 Non-accrual 2 6 11 14 20 14 1 — — 68 Total commercial real estate mortgage—owner-occupied: $ 1,120 $ 1,268 $ 793 $ 775 $ 460 $ 894 $ 141 $ — $ (5) $ 5,446 Commercial real estate construction—owner-occupied: Risk Rating: Pass $ 43 $ 61 $ 28 $ 31 $ 22 $ 46 $ 1 $ — $ — $ 232 Special Mention — — — 2 — 1 — — — 3 Substandard Accrual — — — 2 3 1 — — — 6 Non-accrual — 1 1 — 1 8 — — — 11 Total commercial real estate construction—owner-occupied: $ 43 $ 62 $ 29 $ 35 $ 26 $ 56 $ 1 $ — $ — $ 252 Total commercial $ 10,425 $ 7,612 $ 5,552 $ 3,253 $ 2,360 $ 3,888 $ 14,466 $ — $ (110) $ 47,446 Commercial investor real estate mortgage: Risk Rating: Pass $ 1,464 $ 841 $ 1,138 $ 770 $ 139 $ 103 $ 479 $ — $ (6) $ 4,928 Special Mention 28 107 163 2 8 9 — — — 317 Substandard Accrual 39 67 166 57 15 8 7 — — 359 Non-accrual — — — 1 — 3 — — — 4 Total commercial investor real estate mortgage $ 1,531 $ 1,015 $ 1,467 $ 830 $ 162 $ 123 $ 486 $ — $ (6) $ 5,608 September 30, 2021 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2021 2020 2019 2018 2017 Prior (In millions) Commercial investor real estate construction: Risk Rating: Pass $ 133 $ 295 $ 524 $ 79 $ 1 $ 2 $ 668 $ — $ (10) $ 1,692 Special Mention 1 8 3 — — — — — — 12 Substandard Accrual — — — — — — — — — — Non-accrual — — — — — — — — — — Total commercial investor real estate construction $ 134 $ 303 $ 527 $ 79 $ 1 $ 2 $ 668 $ — $ (10) $ 1,704 Total investor real estate $ 1,665 $ 1,318 $ 1,994 $ 909 $ 163 $ 125 $ 1,154 $ — $ (16) $ 7,312 Residential first mortgage: FICO scores Above 720 $ 3,148 $ 5,452 $ 1,248 $ 491 $ 694 $ 2,878 $ — $ — $ — $ 13,911 681-720 365 385 125 65 70 388 — — — 1,398 620-680 172 176 86 58 52 390 — — — 934 Below 620 28 47 44 47 48 471 — — — 685 Data not available 47 47 21 9 11 117 10 — 157 419 Total residential first mortgage $ 3,760 $ 6,107 $ 1,524 $ 670 $ 875 $ 4,244 $ 10 $ — $ 157 $ 17,347 Home equity lines: FICO scores Above 720 $ — $ — $ — $ — $ — $ — $ 2,855 $ 48 $ — $ 2,903 681-720 — — — — — — 398 12 — 410 620-680 — — — — — — 269 12 — 281 Below 620 — — — — — — 142 8 — 150 Data not available — — — — — — 98 4 29 131 Total home equity lines $ — $ — $ — $ — $ — $ — $ 3,762 $ 84 $ 29 $ 3,875 Home equity loans FICO scores Above 720 $ 430 $ 348 $ 176 $ 164 $ 239 $ 653 $ — $ — $ — $ 2,010 681-720 65 40 28 22 26 81 — — — 262 620-680 24 15 14 14 17 67 — — — 151 Below 620 4 3 6 8 11 49 — — — 81 Data not available 1 2 2 3 5 20 — — 19 52 Total home equity loans $ 524 $ 408 $ 226 $ 211 $ 298 $ 870 $ — $ — $ 19 $ 2,556 Indirect—vehicles: FICO scores Above 720 $ — $ — $ 12 $ 189 $ 75 $ 46 $ — $ — $ — $ 322 681-720 — — 3 29 12 9 — — — 53 620-680 — — 2 27 12 10 — — — 51 Below 620 — — 2 25 15 14 — — — 56 Data not available — — — 3 3 3 — — 9 18 Total indirect- vehicles $ — $ — $ 19 $ 273 $ 117 $ 82 $ — $ — $ 9 $ 500 September 30, 2021 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2021 2020 2019 2018 2017 Prior (In millions) Indirect—other consumer: FICO scores Above 720 $ 314 $ 311 $ 430 $ 260 $ 96 $ 60 $ — $ — $ — $ 1,471 681-720 58 53 109 74 28 17 — — — 339 620-680 11 14 49 41 17 11 — — — 143 Below 620 — 3 14 12 5 4 — — — 38 Data not available — — 3 3 1 1 — — 124 132 Total indirect- other consumer $ 383 $ 381 $ 605 $ 390 $ 147 $ 93 $ — $ — $ 124 $ 2,123 Consumer credit card: FICO scores Above 720 $ — $ — $ — $ — $ — $ — $ 642 $ — $ — $ 642 681-720 — — — — — — 236 — — 236 620-680 — — — — — — 189 — — 189 Below 620 — — — — — — 75 — — 75 Data not available — — — — — — 8 — (14) (6) Total consumer credit card $ — $ — $ — $ — $ — $ — $ 1,150 $ — $ (14) $ 1,136 Other consumer: FICO scores Above 720 $ 174 $ 131 $ 89 $ 41 $ 12 $ 3 $ 113 $ — $ — $ 563 681-720 56 33 22 8 2 1 53 — — 175 620-680 38 22 14 5 1 1 39 — — 120 Below 620 9 7 6 3 1 — 15 — — 41 Data not available 71 — — — — — 3 — 2 76 Total other consumer $ 348 $ 193 $ 131 $ 57 $ 16 $ 5 $ 223 $ — $ 2 $ 975 Total consumer loans $ 5,015 $ 7,089 $ 2,505 $ 1,601 $ 1,453 $ 5,294 $ 5,145 $ 84 $ 326 $ 28,512 Total Loans $ 17,105 $ 16,019 $ 10,051 $ 5,763 $ 3,976 $ 9,307 $ 20,765 $ 84 $ 200 $ 83,270 December 31, 2020 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2020 2019 2018 2017 2016 Prior (In millions) Commercial and industrial: Risk Rating: Pass (2) $ 12,260 $ 6,115 $ 3,550 $ 2,413 $ 1,166 $ 2,493 $ 12,138 $ — $ (39) $ 40,096 Special Mention 133 250 376 84 5 48 722 — — 1,618 Substandard Accrual 41 50 78 55 20 4 490 — — 738 Non-accrual 42 59 97 20 23 19 158 — — 418 Total commercial and industrial $ 12,476 $ 6,474 $ 4,101 $ 2,572 $ 1,214 $ 2,564 $ 13,508 $ — $ (39) $ 42,870 December 31, 2020 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2020 2019 2018 2017 2016 Prior (In millions) Commercial real estate mortgage—owner-occupied: Risk Rating: Pass $ 1,379 $ 882 $ 913 $ 547 $ 401 $ 801 $ 140 $ — $ (3) $ 5,060 Special Mention 18 31 23 22 10 44 6 — — 154 Substandard Accrual 3 38 16 16 4 15 2 — — 94 Non-accrual 14 23 19 21 6 14 — — — 97 Total commercial real estate mortgage—owner-occupied: $ 1,414 $ 974 $ 971 $ 606 $ 421 $ 874 $ 148 $ — $ (3) $ 5,405 Commercial real estate construction—owner-occupied: Risk Rating: Pass $ 61 $ 75 $ 39 $ 24 $ 24 $ 40 $ 9 $ — $ — $ 272 Special Mention 1 — — 2 2 — — — — 5 Substandard Accrual — 3 1 3 4 3 — — — 14 Non-accrual — — — 1 — 8 — — — 9 Total commercial real estate construction—owner-occupied: $ 62 $ 78 $ 40 $ 30 $ 30 $ 51 $ 9 $ — $ — $ 300 Total commercial $ 13,952 $ 7,526 $ 5,112 $ 3,208 $ 1,665 $ 3,489 $ 13,665 $ — $ (42) $ 48,575 Commercial investor real estate mortgage: Risk Rating: Pass $ 1,663 $ 1,243 $ 1,137 $ 252 $ 65 $ 162 $ 332 $ — $ (5) $ 4,849 Special Mention 5 77 76 15 — 7 — — — 180 Substandard Accrual 69 114 57 — 2 9 — — — 251 Non-accrual — 44 1 — — 1 68 — — 114 Total commercial investor real estate mortgage $ 1,737 $ 1,478 $ 1,271 $ 267 $ 67 $ 179 $ 400 $ — $ (5) $ 5,394 Commercial investor real estate construction: Risk Rating: Pass $ 224 $ 601 $ 266 $ 1 $ — $ 1 $ 679 $ — $ (11) $ 1,761 Special Mention 30 36 31 — — — 9 — — 106 Substandard Accrual 1 1 — — — — — — — 2 Non-accrual — — — — — — — — — — Total commercial investor real estate construction $ 255 $ 638 $ 297 $ 1 $ — $ 1 $ 688 $ — $ (11) $ 1,869 Total investor real estate $ 1,992 $ 2,116 $ 1,568 $ 268 $ 67 $ 180 $ 1,088 $ — $ (16) $ 7,263 Residential first mortgage: FICO scores Above 720 $ 5,564 $ 1,738 $ 809 $ 1,023 $ 1,279 $ 2,709 $ — $ — $ — $ 13,122 681-720 525 189 103 112 113 360 — — — 1,402 620-680 211 100 73 64 67 404 — — — 919 Below 620 31 44 50 51 60 499 — — — 735 Data not available 52 23 13 16 15 126 10 — 142 397 Total residential first mortgage $ 6,383 $ 2,094 $ 1,048 $ 1,266 $ 1,534 $ 4,098 $ 10 $ — $ 142 $ 16,575 December 31, 2020 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2020 2019 2018 2017 2016 Prior (In millions) Home equity lines: FICO scores Above 720 $ — $ — $ — $ — $ — $ — $ 3,334 $ 45 $ — $ 3,379 681-720 — — — — — — 492 10 — 502 620-680 — — — — — — 319 11 — 330 Below 620 — — — — — — 181 7 — 188 Data not available — — — — — — 107 3 30 140 Total home equity lines $ — $ — $ — $ — $ — $ — $ 4,433 $ 76 $ 30 $ 4,539 Home equity loans FICO scores Above 720 $ 417 $ 251 $ 233 $ 325 $ 304 $ 580 $ — $ — $ — $ 2,110 681-720 57 40 35 39 37 76 — — — 284 620-680 21 17 19 22 25 65 — — — 169 Below 620 2 7 9 13 15 52 — — — 98 Data not available 1 2 2 4 5 17 — — 21 52 Total home equity loans $ 498 $ 317 $ 298 $ 403 $ 386 $ 790 $ — $ — $ 21 $ 2,713 Indirect—vehicles: FICO scores Above 720 $ — $ 18 $ 305 $ 137 $ 92 $ 40 $ — $ — $ — $ 592 681-720 — 5 50 22 16 8 — — — 101 620-680 — 4 44 23 18 8 — — — 97 Below 620 — 3 42 26 24 14 — — — 109 Data not available — — 4 6 4 4 — — 17 35 Total indirect- vehicles $ — $ 30 $ 445 $ 214 $ 154 $ 74 $ — $ — $ 17 $ 934 Indirect—other consumer: FICO scores Above 720 $ 297 $ 721 $ 392 $ 138 $ 60 $ 31 $ — $ — $ — $ 1,639 681-720 39 173 116 41 18 9 — — — 396 620-680 9 73 63 27 12 6 — — — 190 Below 620 1 22 22 9 5 2 — — — 61 Data not available — 3 3 2 1 1 — — 135 145 Total indirect- other consumer $ 346 $ 992 $ 596 $ 217 $ 96 $ 49 $ — $ — $ 135 $ 2,431 Consumer credit card: FICO scores Above 720 $ — $ — $ — $ — $ — $ — $ 667 $ — $ — $ 667 681-720 — — — — — — 255 — — 255 620-680 — — — — — — 208 — — 208 Below 620 — — — — — — 91 — — 91 Data not available — — — — — — 7 — (15) (8) Total consumer credit card $ — $ — $ — $ — $ — $ — $ 1,228 $ — $ (15) $ 1,213 December 31, 2020 Term Loans Revolving Loans Revolving Loans Converted to Amortizing Unallocated (1) Total Origination Year 2020 2019 2018 2017 2016 Prior (In millions) Other consumer: FICO scores Above 720 $ 209 $ 163 $ 84 $ 30 $ 7 $ 3 $ 117 $ — $ — $ 613 681-720 61 44 20 5 1 1 52 — — 184 620-680 34 28 13 4 1 1 42 — — 123 Below 620 11 11 6 3 1 — 19 — — 51 Data not available 46 1 — — — — 3 — 2 52 Total other consumer $ 361 $ 247 $ 123 $ 42 $ 10 $ 5 $ 233 $ — $ 2 $ 1,023 Total consumer loans $ 7,588 $ 3,680 $ 2,510 $ 2,142 $ 2,180 $ 5,016 $ 5,904 $ 76 $ 332 $ 29,428 Total Loans $ 23,532 $ 13,322 $ 9,190 $ 5,618 $ 3,912 $ 8,685 $ 20,657 $ 76 $ 274 $ 85,266 _________ (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) Commercial and industrial lending includes PPP lending in the 2020 and 2021 vintage years. |
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 September 30, 2021 and December 31, 2020. Loans on non-accrual status with no related allowance included $150 million and $112 million of commercial and industrial loans as of September 30, 2021 and December 31, 2020, respectively. 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. September 30, 2021 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total Total Non-accrual Total (In millions) Commercial and industrial $ 26 $ 8 $ 3 $ 37 $ 41,389 $ 359 $ 41,748 Commercial real estate mortgage—owner-occupied 5 2 2 9 5,378 68 5,446 Commercial real estate construction—owner-occupied — 1 — 1 241 11 252 Total commercial 31 11 5 47 47,008 438 47,446 Commercial investor real estate mortgage — — — — 5,604 4 5,608 Commercial investor real estate construction — — — — 1,704 — 1,704 Total investor real estate — — — — 7,308 4 7,312 Residential first mortgage 71 29 112 212 17,310 37 17,347 Home equity lines 17 5 20 42 3,831 44 3,875 Home equity loans 6 4 13 23 2,549 7 2,556 Indirect—vehicles 6 2 2 10 500 — 500 Indirect—other consumer 7 4 3 14 2,123 — 2,123 Consumer credit card 7 5 11 23 1,136 — 1,136 Other consumer 11 1 2 14 975 — 975 Total consumer 125 50 163 338 28,424 88 28,512 $ 156 $ 61 $ 168 $ 385 $ 82,740 $ 530 $ 83,270 December 31, 2020 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total Total Non-accrual Total (In millions) Commercial and industrial $ 37 $ 22 $ 7 $ 66 $ 42,452 $ 418 $ 42,870 Commercial real estate mortgage—owner-occupied 4 1 1 6 5,308 97 5,405 Commercial real estate construction—owner-occupied 1 — — 1 291 9 300 Total commercial 42 23 8 73 48,051 524 48,575 Commercial investor real estate mortgage 3 — — 3 5,280 114 5,394 Commercial investor real estate construction — — — — 1,869 — 1,869 Total investor real estate 3 — — 3 7,149 114 7,263 Residential first mortgage 104 41 156 301 16,522 53 16,575 Home equity lines 24 11 19 54 4,493 46 4,539 Home equity loans 10 7 13 30 2,705 8 2,713 Indirect—vehicles 15 4 4 23 934 — 934 Indirect—other consumer 12 8 5 25 2,431 — 2,431 Consumer credit card 8 6 14 28 1,213 — 1,213 Other consumer 12 3 2 17 1,023 — 1,023 Total consumer 185 80 213 478 29,321 107 29,428 $ 230 $ 103 $ 221 $ 554 $ 84,521 $ 745 $ 85,266 |
Troubled Debt Restructurings on Financing Receivables | The following tables present the end of period balance for loans modified in a TDR during the periods presented by portfolio segment and class, and the financial impact of those modifications. The tables include modifications made to new TDRs, as well as renewals of existing TDRs. Three Months Ended September 30, 2021 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 18 $ 24 $ — Commercial real estate mortgage—owner-occupied 10 4 — Commercial real estate construction—owner-occupied 1 1 — Total commercial 29 29 — Commercial investor real estate mortgage 1 1 — Commercial investor real estate construction — — — Total investor real estate 1 1 — Residential first mortgage 99 16 2 Home equity lines 1 — — Home equity loans 33 3 — Consumer credit card 1 — — Indirect—vehicles and other consumer 16 1 — Total consumer 150 20 2 180 $ 50 $ 2 Three Months Ended September 30, 2020 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 26 $ 27 $ — Commercial real estate mortgage—owner-occupied 7 9 — Commercial real estate construction—owner-occupied — — — Total commercial 33 36 — Commercial investor real estate mortgage 2 36 — Commercial investor real estate construction 2 4 — Total investor real estate 4 40 — Residential first mortgage 94 32 4 Home equity lines — — — Home equity loans 9 1 — Consumer credit card 1 — — Indirect—vehicles and other consumer 11 — — Total consumer 115 33 4 152 $ 109 $ 4 Nine Months Ended September 30, 2021 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 59 $ 74 $ — Commercial real estate mortgage—owner-occupied 24 7 — Commercial real estate construction—owner-occupied 2 2 — Total commercial 85 83 — Commercial investor real estate mortgage 7 77 — Commercial investor real estate construction — — — Total investor real estate 7 77 — Residential first mortgage 435 77 7 Home equity lines 6 1 — Home equity loans 40 4 — Consumer credit card 1 — — Indirect—vehicles and other consumer 68 2 — Total consumer 550 84 7 642 $ 244 $ 7 Nine Months Ended September 30, 2020 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 119 $ 221 $ — Commercial real estate mortgage—owner-occupied 17 14 — Commercial real estate construction—owner-occupied 1 1 — Total commercial 137 236 — Commercial investor real estate mortgage 9 37 — Commercial investor real estate construction 3 4 — Total investor real estate 12 41 — Residential first mortgage 177 43 6 Home equity lines — — — Home equity loans 36 3 — Consumer credit card 12 — — Indirect—vehicles and other consumer 22 — — Total consumer 247 46 6 396 $ 323 $ 6 |
Servicing of Financial Assets (
Servicing of Financial Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Carrying value, beginning of period $ 392 $ 249 $ 296 $ 345 Additions 39 32 116 67 Increase (decrease) in fair value: Due to change in valuation inputs or assumptions (3) — 49 (94) Economic amortization associated with borrower repayments (1) (18) (14) (51) (51) Carrying value, end of period $ 410 $ 267 $ 410 $ 267 ________ (1) "Economic amortization associated with borrower repayments" 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 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) are as follows: September 30 2021 2020 (Dollars in millions) Unpaid principal balance $ 36,370 $ 33,740 Weighted-average CPR (%) 10.3 % 16.3 % Estimated impact on fair value of a 10% increase $ (30) $ (22) Estimated impact on fair value of a 20% increase $ (53) $ (40) Option-adjusted spread (basis points) 530 621 Estimated impact on fair value of a 10% increase $ (9) $ (6) Estimated impact on fair value of a 20% increase $ (18) $ (12) Weighted-average coupon interest rate 3.6 % 4.0 % Weighted-average remaining maturity (months) 294 283 Weighted-average servicing fee (basis points) 27.3 27.4 |
Schedule Of Fees Resulting From The Servicing Of Residential Mortgage Loans | The following table presents servicing related fees, which includes contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of residential mortgage loans: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) (In millions) Servicing related fees and other ancillary income $ 26 $ 23 $ 75 $ 71 |
Servicing Asset at Amortized Cost | The table below presents an analysis of commercial MSRs under the amortization measurement method: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) (In millions) Carrying value, beginning of period $ 86 $ 64 $ 74 $ 59 Additions 5 11 24 21 Economic amortization associated with borrower repayments (1) (4) (3) (11) (8) Carrying value, end of period $ 87 $ 72 $ 87 $ 72 ________ (1) "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns. |
Servicing related fee for Commercial Mortgage Banking | The following table presents servicing related fees, which includes contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of commercial mortgage loans: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) (In millions) Servicing related fees and other ancillary income $ 8 $ 4 $ 18 $ 14 |
Stockholders' Equity and Accu_2
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | |
Equity [Abstract] | ||
Summary of the non-cumulative perpetual preferred stock | The following table presents a summary of the non-cumulative perpetual preferred stock: September 30, 2021 December 31, 2020 Issuance Date Earliest Redemption Date Dividend Rate (1) Liquidation Amount Liquidation Preference per Share Liquidation preference per Depositary Share Ownership Interest per Depositary Share Carrying Amount Carrying Amount (Dollars in millions, except per share data) Series A (2) 11/1/2012 12/15/2017 6.375 % $ — $ 1,000 $ 25 1/40th $ — $ 387 Series B 4/29/2014 9/15/2024 6.375 % (3) 500 1,000 25 1/40th 433 433 Series C 4/30/2019 5/15/2029 5.700 % (4) 500 1,000 25 1/40th 490 490 Series D 6/5/2020 9/15/2025 5.750 % (5) 350 100,000 1,000 1/100th 346 346 Series E 5/4/2021 6/15/2026 4.450 % 400 1,000 25 1/40th 390 — $ 1,750 $ 1,659 $ 1,656 _________ (1) Dividends on all series of preferred stock, if declared, accrue and are payable quarterly in arrears. (2) The shares were fully redeemed on June 15, 2021. (3) 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 LIBOR plus 3.536%. (4) 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 LIBOR plus 3.148%. | |
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 three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, 2021 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ 871 $ (220) $ 651 Unrealized losses on securities transferred to held to maturity: Beginning balance $ (17) $ 4 $ (13) Reclassification adjustments for amortization of unrealized losses (2) 2 — 2 Ending balance $ (15) $ 4 $ (11) Unrealized gains (losses) on securities available for sale: Beginning balance $ 606 $ (153) $ 453 Unrealized gains (losses) arising during the period (99) 24 (75) Reclassification adjustments for securities (gains) losses realized in net income (3) (1) 1 — Change in AOCI from securities available for sale activity in the period (100) 25 (75) Ending balance $ 506 $ (128) $ 378 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 1,147 $ (289) $ 858 Unrealized holding gains (losses) on derivatives arising during the period 24 (6) 18 Reclassification adjustments for (gains) losses realized in net income (2) (108) 27 (81) Change in AOCI from derivative activity in the period (84) 21 (63) Ending balance $ 1,063 $ (268) $ 795 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (865) $ 218 $ (647) Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4) 21 (4) 17 Ending balance $ (844) $ 214 $ (630) Total other comprehensive income (loss) (161) 42 (119) Total accumulated other comprehensive income (loss), end of period $ 710 $ (178) $ 532 Three Months Ended September 30, 2020 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ 2,174 $ (548) $ 1,626 Unrealized losses on securities transferred to held to maturity: Beginning balance $ (27) $ 7 $ (20) Reclassification adjustments for amortization of unrealized losses (2) 4 (2) 2 Ending balance $ (23) $ 5 $ (18) Unrealized gains (losses) on securities available for sale: Beginning balance $ 1,116 $ (281) $ 835 Unrealized gains (losses) arising during the period (2) — (2) 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 (5) 1 (4) Ending balance $ 1,111 $ (280) $ 831 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 1,857 $ (468) $ 1,389 Unrealized holding gains (losses) on derivatives arising during the period 2 — 2 Reclassification adjustments for (gains) losses realized in net income (2) (94) 24 (70) Change in AOCI from derivative activity in the period (92) 24 (68) Ending balance $ 1,765 $ (444) $ 1,321 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (772) $ 194 $ (578) Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4) 11 (2) 9 Ending balance $ (761) $ 192 $ (569) Total other comprehensive income (loss) (82) 21 (61) Total accumulated other comprehensive income (loss), end of period $ 2,092 $ (527) $ 1,565 Nine Months Ended September 30, 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 of unrealized losses (2) 6 (1) 5 Ending balance $ (15) $ 4 $ (11) Unrealized gains (losses) on securities available for sale: Beginning balance $ 1,062 $ (268) $ 794 Unrealized gains (losses) arising during the period (553) 139 (414) 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 (556) 140 (416) Ending balance $ 506 $ (128) $ 378 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 1,610 $ (406) $ 1,204 Unrealized holding gains (losses) on active hedges arising during the period (233) 59 (174) Reclassification adjustments for (gains) losses realized in net income (2) (314) 79 (235) Change in AOCI from derivative activity in the period (547) 138 (409) Ending balance $ 1,063 $ (268) $ 795 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (892) $ 225 $ (667) Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4) 48 (11) 37 Ending balance $ (844) $ 214 $ (630) Total other comprehensive income (loss) (1,049) 266 (783) Total accumulated other comprehensive income (loss), end of period $ 710 $ (178) $ 532 Nine Months Ended September 30, 2020 Pre-tax AOCI Activity Tax Effect (1) Net AOCI Activity (In millions) Total accumulated other comprehensive income (loss), beginning of period $ (120) $ 30 $ (90) Unrealized losses on securities transferred to held to maturity: Beginning balance $ (29) $ 7 $ (22) Reclassification adjustments for amortization of unrealized losses (2) 6 (2) 4 Ending balance $ (23) $ 5 $ (18) Unrealized gains (losses) on securities available for sale: Beginning balance $ 274 $ (69) $ 205 Unrealized gains (losses) arising during the period 841 (212) 629 Reclassification adjustments for securities (gains) losses realized in net income (3) (4) 1 (3) Change in AOCI from securities available for sale activity in the period 837 (211) 626 Ending balance $ 1,111 $ (280) $ 831 Unrealized gains (losses) on derivative instruments designated as cash flow hedges: Beginning balance $ 430 $ (108) $ 322 Unrealized holding gains (losses) on derivatives arising during the period 1,498 (377) 1,121 Reclassification adjustments for (gains) losses realized in net income (2) (163) 41 (122) Change in AOCI from derivative activity in the period 1,335 (336) 999 Ending balance $ 1,765 $ (444) $ 1,321 Defined benefit pension plans and other post employment benefit plans: Beginning balance $ (795) $ 200 $ (595) Amounts reclassified for amortization of actuarial gains (losses) and settlements realized in net income (4) 34 (8) 26 Ending balance $ (761) $ 192 $ (569) Total other comprehensive income 2,212 (557) 1,655 Total accumulated other comprehensive income, end of period $ 2,092 $ (527) $ 1,565 _________ (1) The impact of all AOCI activity is shown net of the related tax impact, calculated using an effective tax rate of approximately 25%. (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 7 for additional details). |
Earnings (Loss) Per Common Sh_2
Earnings (Loss) Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions, except per share amounts) Numerator: Net income $ 651 $ 530 $ 2,083 $ 478 Preferred stock dividends and other (1) (27) (29) (97) (75) Net income available to common shareholders $ 624 $ 501 $ 1,986 $ 403 Denominator: Weighted-average common shares outstanding—basic 955 960 958 959 Potential common shares 7 2 7 2 Weighted-average common shares outstanding—diluted 962 962 965 961 Earnings per common share: Basic $ 0.65 $ 0.52 $ 2.07 $ 0.42 Diluted 0.65 0.52 2.06 0.42 _________ |
Pension and Other Postretirem_2
Pension and Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |
Schedule of Net Periodic Pension Cost | Net periodic pension cost (credit) includes the following components: Qualified Plans Non-qualified Plans Total Three Months Ended September 30 2021 2020 2021 2020 2021 2020 (In millions) Service cost $ 9 $ 9 $ — $ 2 $ 9 $ 11 Interest cost 12 17 — 1 12 18 Expected return on plan assets (35) (37) — — (35) (37) Amortization of actuarial loss 12 9 1 2 13 11 Settlement charge — — 8 — 8 — Net periodic pension cost (credit) $ (2) $ (2) $ 9 $ 5 $ 7 $ 3 Qualified Plans Non-qualified Plans Total Nine Months Ended September 30 2021 2020 2021 2020 2021 2020 (In millions) Service cost $ 28 $ 26 $ 3 $ 4 $ 31 $ 30 Interest cost 36 49 1 3 37 52 Expected return on plan assets (106) (112) — — (106) (112) Amortization of actuarial loss 35 29 5 5 40 34 Settlement charge — — 8 — 8 — Net periodic pension cost (credit) $ (7) $ (8) $ 17 $ 12 $ 10 $ 4 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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 on a gross basis. September 30, 2021 December 31, 2020 Notional Estimated Fair Value Notional Estimated Fair Value Gain (1) Loss (1) Gain (1) Loss (1) (In millions) Derivatives in fair value hedging relationships: Interest rate swaps $ 1,400 $ — $ 19 $ 2,100 $ 77 $ — Derivatives in cash flow hedging relationships: Interest rate swaps (2) 17,000 260 1 16,000 1,181 — Interest rate floors (3)(4) 3,500 178 — 5,750 430 — Total derivatives in cash flow hedging relationships 20,500 438 1 21,750 1,611 — Total derivatives designated as hedging instruments $ 21,900 $ 438 $ 20 $ 23,850 $ 1,688 $ — Derivatives not designated as hedging instruments: Interest rate swaps $ 79,155 $ 911 $ 953 $ 76,764 $ 1,492 $ 1,464 Interest rate options 15,329 54 20 13,806 90 28 Interest rate futures and forward commitments 3,040 13 5 4,270 11 26 Other contracts 9,415 216 217 9,924 68 80 Total derivatives not designated as hedging instruments $ 106,939 $ 1,194 $ 1,195 $ 104,764 $ 1,661 $ 1,598 Total derivatives $ 128,839 $ 1,632 $ 1,215 $ 128,614 $ 3,349 $ 1,598 Total gross derivative instruments, before netting $ 1,632 $ 1,215 $ 3,349 $ 1,598 Less: Netting adjustments (5) 991 1,159 2,428 1,545 Total gross derivative instruments, after netting (6) $ 641 $ 56 $ 921 $ 53 _________ (1) 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. (2) Includes accrued interest of $12 million at September 30, 2021 and $28 million at December 31, 2020, respectively. (3) Includes accrued interest of $9 million at September 30, 2021 and $12 million at December 31, 2020, respectively. (4) Estimated fair value includes premium of approximately $41 million as of September 30, 2021 and $83 million as of December 31, 2020 to be amortized over the remaining life. Approximately $32 million of the decrease since December 31, 2020 related to hedges that were terminated during the first nine months of 2021 and were not amortized into earnings as of the date of termination. (5) 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. |
Schedule of Discontinued Cash Flow Hedges | The following table presents the pre-tax impact of terminated cash flow hedges on AOCI. The balance of terminated cash flow hedges in AOCI will be amortized into earnings through 2026. Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Unrealized gains on terminated hedges included in AOCI- Beginning $ 494 $ 68 $ 121 $ 78 Unrealized gains on terminated hedges arising during the period 243 62 658 56 Reclassification adjustments for amortization of unrealized (gains) into net income (49) (3) (91) (7) Unrealized gains on terminated hedges included in AOCI-Ending $ 688 $ 127 $ 688 $ 127 |
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 effected: Three Months Ended September 30, 2021 Interest Income Interest Expense Loans, Including Fees Long-term Borrowings (In millions) Total amounts presented in the consolidated statements of income $ 847 $ 26 Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 3 Recognized on derivatives — (11) Recognized on hedged items — 11 Net income recognized on fair value hedges $ — $ 3 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 108 $ — Income (expense) recognized on cash flow hedges $ 108 $ — Three Months Ended September 30, 2020 Interest Income Interest Expense Loans, Including Fees Long-term Borrowings (In millions) Total amounts presented in the consolidated statements of income $ 903 $ 39 Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 12 Recognized on derivatives — (12) Recognized on hedged items — 12 Net income recognized on fair value hedges $ — $ 12 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 94 $ — Income (expense) recognized on cash flow hedges $ 94 $ — Nine Months Ended September 30, 2021 Interest Income Interest Expense Loans, Including Fees Long-term Borrowings (In millions) Total amounts presented in the consolidated statements of income $ 2,550 $ 79 Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 17 Recognized on derivatives — (37) Recognized on hedged items — 37 Income (expense) recognized on fair value hedges $ — $ 17 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 314 $ — Income (expense) recognized on cash flow hedges $ 314 $ — Nine Months Ended September 30, 2020 Interest Income Interest Expense Loans, Including Fees Long-term Borrowings (In millions) Total amounts presented in the consolidated statements of income $ 2,704 $ 147 Gains/(losses) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $ — $ 27 Recognized on derivatives — 65 Recognized on hedged items — (65) Income (expense) recognized on fair value hedges $ — $ 27 Gains/(losses) on cash flow hedging relationships: (1) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income (2) $ 163 $ — Income (expense) recognized on cash flow hedges $ 163 $ — ___ (1) See Note 5 for gain or (loss) recognized for cash flow hedges in AOCI. |
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. September 30, 2021 December 31, 2020 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) Long-term borrowings $ (1,376) $ 21 $ (2,171) $ (64) |
Schedule of Gains (Losses) Recognized 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: Three Months Ended September 30 Nine Months Ended September 30 Derivatives Not Designated as Hedging Instruments 2021 2020 2021 2020 (In millions) Capital markets income: Interest rate swaps $ 5 $ 15 $ 25 $ 7 Interest rate options 8 (1) 25 31 Interest rate futures and forward commitments 2 4 14 11 Other contracts 1 2 8 2 Total capital markets income 16 20 72 51 Mortgage income: Interest rate swaps (8) (6) (46) 98 Interest rate options (9) 12 (24) 38 Interest rate futures and forward commitments 6 11 17 12 Total mortgage income (11) 17 (53) 148 $ 5 $ 37 $ 19 $ 199 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule Of Assets And Liabilities At Fair Value Measured On A Recurring Basis And Non-Recurring Basis | The following table presents assets and liabilities measured at estimated fair value on a recurring basis and non-recurring basis: September 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 (1) Total Estimated Fair Value Level 1 Level 2 Level 3 (1) Total Estimated Fair Value (In millions) Recurring fair value measurements Debt securities available for sale: U.S. Treasury securities $ 784 $ — $ — $ 784 $ 183 $ — $ — $ 183 Federal agency securities — 97 — 97 — 105 — 105 Mortgage-backed securities (MBS): Residential agency — 19,685 — 19,685 — 19,076 — 19,076 Residential non-agency — — 1 1 — — 1 1 Commercial agency — 6,385 — 6,385 — 5,999 — 5,999 Commercial non-agency — 564 — 564 — 586 — 586 Corporate and other debt securities — 1,469 1 1,470 — 1,200 4 1,204 Total debt securities available for sale $ 784 $ 28,200 $ 2 $ 28,986 $ 183 $ 26,966 $ 5 $ 27,154 Loans held for sale $ — $ 857 $ — $ 857 $ — $ 1,446 $ — $ 1,446 Marketable equity securities $ 507 $ — $ — $ 507 $ 388 $ — $ — $ 388 Residential mortgage servicing rights $ — $ — $ 410 $ 410 $ — $ — $ 296 $ 296 Derivative assets (2) : Interest rate swaps $ — $ 1,171 $ — $ 1,171 $ — $ 2,750 $ — $ 2,750 Interest rate options — 212 20 232 — 477 43 520 Interest rate futures and forward commitments — 13 — 13 — 11 — 11 Other contracts — 216 — 216 2 65 1 68 Total derivative assets $ — $ 1,612 $ 20 $ 1,632 $ 2 $ 3,303 $ 44 $ 3,349 Equity investments $ — $ — $ — $ — $ — $ 74 $ — $ 74 Derivative liabilities (2) : Interest rate swaps $ — $ 973 $ — $ 973 $ — $ 1,464 $ — $ 1,464 Interest rate options — 20 — 20 — 28 — 28 Interest rate futures and forward commitments — 5 — 5 — 26 — 26 Other contracts — 214 3 217 2 72 6 80 Total derivative liabilities $ — $ 1,212 $ 3 $ 1,215 $ 2 $ 1,590 $ 6 $ 1,598 Non-recurring fair value measurements (3) Loans held for sale $ — $ — $ 9 $ 9 $ — $ — $ 4 $ 4 Equity investments without a readily determinable fair value — — 25 25 — — 12 12 Foreclosed property and other real estate — — 10 10 — — 5 5 _________ (1) All following disclosures related to Level 3 recurring and non-recurring assets do not include those deemed to be immaterial. (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. (3) From time to time, certain assets may be recorded at fair value on a non-recurring basis, and the related fair value adjustments disclosed are typically a result of the application of lower of cost or fair value accounting or a write-down occurring during the periods indicated. |
Rollforward For Assets And Liabilities Measured At Fair Value On A Recurring Basis With Level 3 Significant Unobservable Inputs | The following tables illustrate rollforwards for residential mortgage servicing rights, which are the only material assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2021 and 2020, respectively. Residential mortgage servicing rights Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Carrying value, beginning of period $ 392 $ 249 $ 296 $ 345 Total realized/unrealized gains (losses) included in earnings (1) (21) (14) (2) (145) Additions 39 32 116 67 Carrying value, end of period $ 410 $ 267 $ 410 $ 267 _________ (1) Included in mortgage income. Amounts presented exclude offsetting impact from related derivatives. |
Schedule Of Fair Value Adjustments Related To Non-Recurring Fair Value Measurements | The following table presents the fair value adjustments related to non-recurring fair value measurements: Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Loans held for sale $ (1) $ (1) $ (1) $ (6) Equity investments without a readily determinable fair value 13 — 14 (3) Foreclosed property and other real estate (4) (3) (4) (13) |
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 September 30, 2021, and December 31, 2020. 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 September 30, 2021, and December 31, 2020, are included. Following the tables are descriptions of the valuation techniques and the sensitivity of the techniques to changes in the significant unobservable inputs. September 30, 2021 Level 3 Estimated Fair Value at September 30, 2021 Valuation Unobservable Quantitative Range of (Dollars in millions) Recurring fair value measurements: Residential mortgage servicing rights (1) $410 Discounted cash flow Weighted-average CPR (%) 6.9% - 21.3% (10.3%) OAS (%) 4.2% - 9.6% (5.3%) _________ (1) See Note 4 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. December 31, 2020 Level 3 Estimated Fair Value at December 31, 2020 Valuation Unobservable Quantitative Range of (Dollars in millions) Recurring fair value measurements: Residential mortgage servicing rights (1) $296 Discounted cash flow Weighted-average CPR (%) 8.1% - 31.2% (15.6%) OAS (%) 4.8% - 9.5% (5.6%) _________ (1) See Note 7 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2020 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. |
Fair Value Option, Fair Value and Unpaid Principal Balance | The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential first mortgage loans held for sale measured at fair value: September 30, 2021 December 31, 2020 Aggregate Aggregate Aggregate Fair Aggregate Aggregate Aggregate Fair (In millions) Residential first mortgage loans held for sale, at fair value $ 848 $ 822 $ 26 $ 1,439 $ 1,362 $ 77 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 in the consolidated statements of income. The following table details net gains and losses resulting from changes in fair value of these loans, which were recorded in mortgage income in the consolidated statements of income during the three and nine months ended September 30, 2021 and 2020. 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. Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 (In millions) Net gains (losses) resulting for the change in fair value of mortgage loans held for sale $ (10) $ 7 $ (50) $ 37 |
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 September 30, 2021 are as follows: September 30, 2021 Carrying Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 27,507 $ 27,507 $ 27,507 $ — $ — Debt securities held to maturity 945 1,010 — 1,010 — Debt securities available for sale 28,986 28,986 784 28,200 2 Loans held for sale 934 934 — 925 9 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 80,403 80,800 — — 80,800 Other earning assets (4) 1,149 1,149 507 642 — Derivative assets 1,632 1,632 — 1,612 20 Financial liabilities: Derivative liabilities 1,215 1,215 — 1,212 3 Deposits 132,039 132,046 — 132,046 — Long-term borrowings 2,451 2,917 — 2,886 31 Loan commitments and letters of credit 102 102 — — 102 _________ (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 premium on the loan portfolio's net carrying amount at September 30, 2021 was $397 million or 0.5 percent. (3) Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.4 billion at September 30, 2021. (4) Excluded from this table is the operating lease carrying amount of $120 million at September 30, 2021 . 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, 2020 are as follows: December 31, 2020 Carrying Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 17,956 $ 17,956 $ 17,956 $ — $ — Debt securities held to maturity 1,122 1,215 — 1,215 — Debt securities available for sale 27,154 27,154 183 26,966 5 Loans held for sale 1,905 1,905 — 1,901 4 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 81,597 82,773 — — 82,773 Other earning assets (4) 1,017 1,017 388 629 — Derivative assets 3,349 3,349 2 3,303 44 Equity investments 74 74 — 74 — Financial liabilities: Derivative liabilities 1,598 1,598 2 1,590 6 Deposits 122,479 122,511 — 122,511 — Long-term borrowings 3,569 4,063 — 3,592 471 Loan commitments and letters of credit 151 151 — — 151 _________ (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 premium on the loan portfolio's net carrying amount at December 31, 2020 was $1.2 billion or 1.4 percent. (3) Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.5 billion at December 31, 2020. (4) Excluded from this table is the operating lease carrying amount of $200 million at December 31, 2020. |
Business Segment Information (T
Business Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Schedule Of Financial Information By Reportable Segment | The following tables present financial information for each reportable segment for the period indicated. Three Months Ended September 30, 2021 Corporate Bank Consumer Wealth Other Consolidated (In millions) Net interest income $ 444 $ 486 $ 35 $ — $ 965 Provision for (benefit from) credit losses 75 58 2 (290) (155) Non-interest income 208 307 96 38 649 Non-interest expense 274 531 98 35 938 Income before income taxes 303 204 31 293 831 Income tax expense 76 51 8 45 180 Net income 227 153 23 248 651 Average assets $ 58,644 $ 33,003 $ 2,030 $ 61,953 $ 155,630 Three Months Ended September 30, 2020 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 445 $ 510 $ 33 $ — $ 988 Provision for credit losses 83 71 3 (44) 113 Non-interest income 159 343 87 66 655 Non-interest expense 248 521 85 42 896 Income before income taxes 273 261 32 68 634 Income tax expense (benefit) 68 65 8 (37) 104 Net income 205 196 24 105 530 Average assets $ 63,464 $ 34,570 $ 2,014 $ 42,797 $ 142,845 Nine Months Ended September 30, 2021 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 1,321 $ 1,471 $ 103 $ — $ 2,895 Provision for (benefit from) credit losses 230 183 8 (1,055) (634) Non-interest income 564 952 288 105 1,909 Non-interest expense 802 1,596 283 83 2,764 Income before income taxes 853 644 100 1,077 2,674 Income tax expense 213 161 25 192 591 Net income 640 483 75 885 2,083 Average assets $ 59,315 $ 33,498 $ 2,037 $ 57,470 $ 152,320 Nine Months Ended September 30, 2020 Corporate Bank Consumer Bank Wealth Other Consolidated (In millions) Net interest income $ 1,227 $ 1,557 $ 104 $ — $ 2,888 Provision for credit losses 210 234 9 915 1,368 Non-interest income 444 944 254 71 1,713 Non-interest expense 741 1,529 257 129 2,656 Income (loss) before income taxes 720 738 92 (973) 577 Income tax expense (benefit) 180 185 23 (289) 99 Net income (loss) 540 553 69 (684) 478 Average assets $ 61,374 $ 34,531 $ 2,028 $ 37,905 $ 135,838 |
Commitments, Contingencies an_2
Commitments, Contingencies and Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Credit Risk Of Off-Balance Sheet Financial Instruments By Contractual Amounts | Credit risk associated with these instruments is represented by the contractual amounts indicated in the following table: September 30, 2021 December 31, 2020 (In millions) Unused commitments to extend credit $ 60,653 $ 56,644 Standby letters of credit 1,783 1,742 Commercial letters of credit 52 132 Liabilities associated with standby letters of credit 31 25 Assets associated with standby letters of credit 32 25 Reserve for unfunded credit commitments 71 126 |
Securities (Schedule Of Amortiz
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 | Sep. 30, 2021 | Dec. 31, 2020 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities held to maturity, amortized cost | $ 960 | $ 1,143 | |
Held To Maturity Debt Securities Gross Unrealized Gains | [1] | 0 | 0 |
Held To Maturity Debt Securities Gross Unrealized Losses | [1] | (15) | (21) |
Debt Securities held to maturity | 945 | 1,122 | |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 65 | 93 | |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | 0 | 0 | |
Debt Securities held to maturity, estimated fair value | 1,010 | 1,215 | |
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 28,480 | 26,092 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 683 | 1,072 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (177) | (10) | |
Available-for-sale debt securities, net carrying value | 28,986 | 27,154 | |
Debt securities available for sale | 28,986 | 27,154 | |
US Treasury Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 783 | 178 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2 | 5 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1) | 0 | |
Available-for-sale debt securities, net carrying value | 784 | 183 | |
Debt securities available for sale | 784 | 183 | |
Federal Agency Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 96 | 102 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2 | 3 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1) | 0 | |
Available-for-sale debt securities, net carrying value | 97 | 105 | |
Debt securities available for sale | 97 | 105 | |
Residential Agency [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities held to maturity, amortized cost | 405 | 554 | |
Held To Maturity Debt Securities Gross Unrealized Gains | [1] | 0 | 0 |
Held To Maturity Debt Securities Gross Unrealized Losses | [1] | (14) | (19) |
Debt Securities held to maturity | 391 | 535 | |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 25 | 34 | |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | 0 | 0 | |
Debt Securities held to maturity, estimated fair value | 416 | 569 | |
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 19,414 | 18,455 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 404 | 625 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (133) | (4) | |
Available-for-sale debt securities, net carrying value | 19,685 | 19,076 | |
Debt securities available for sale | 19,685 | 19,076 | |
Residential Non-Agency [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 1 | 1 | |
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 | 1 | 1 | |
Debt securities available for sale | 1 | 1 | |
Commercial Agency [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities held to maturity, amortized cost | 555 | 589 | |
Held To Maturity Debt Securities Gross Unrealized Gains | [1] | 0 | 0 |
Held To Maturity Debt Securities Gross Unrealized Losses | [1] | (1) | (2) |
Debt Securities held to maturity | 554 | 587 | |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Gain | 40 | 59 | |
Held-to-maturity Debt Securities, Accumulated Unrecognized Holding Loss | 0 | 0 | |
Debt Securities held to maturity, estimated fair value | 594 | 646 | |
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 6,207 | 5,659 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 219 | 346 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (41) | (6) | |
Available-for-sale debt securities, net carrying value | 6,385 | 5,999 | |
Debt securities available for sale | 6,385 | 5,999 | |
Commercial Non-Agency [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 557 | 571 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 7 | 15 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale debt securities, net carrying value | 564 | 586 | |
Debt securities available for sale | 564 | 586 | |
Corporate and other debt securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 1,422 | 1,126 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 49 | 78 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1) | 0 | |
Available-for-sale debt securities, net carrying value | 1,470 | 1,204 | |
Debt securities available for sale | $ 1,470 | $ 1,204 | |
[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. |
Securities (Schedule Of Cost An
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 | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Securities held to maturity, amortized cost | $ 960 | $ 1,143 |
Debt Securities held to maturity, estimated fair value | 1,010 | 1,215 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | 324 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 327 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 1,098 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 1,129 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 765 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 779 | |
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost | 114 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 116 | |
Debt Securities, Available-for-sale, Amortized Cost | 28,480 | 26,092 |
Debt securities available for sale | 28,986 | 27,154 |
Residential Agency [Member] | ||
Debt Securities held to maturity, amortized cost | 405 | 554 |
Debt Securities held to maturity, estimated fair value | 416 | 569 |
Debt Securities, Available-for-sale, Amortized Cost | 19,414 | 18,455 |
Debt securities available for sale | 19,685 | 19,076 |
Residential Non-Agency [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1 | 1 |
Debt securities available for sale | 1 | 1 |
Commercial Agency [Member] | ||
Debt Securities held to maturity, amortized cost | 555 | 589 |
Debt Securities held to maturity, estimated fair value | 594 | 646 |
Debt Securities, Available-for-sale, Amortized Cost | 6,207 | 5,659 |
Debt securities available for sale | 6,385 | 5,999 |
Commercial Non-Agency [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost | 557 | 571 |
Debt securities available for sale | $ 564 | $ 586 |
Securities (Schedule Of Gross U
Securities (Schedule Of Gross Unrealized Losses And Estimated Fair Value Of Securities Available For Sale and Held to Maturity) (Details) $ in Millions | Sep. 30, 2021USD ($)security | Dec. 31, 2020USD ($)security |
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 10,195 | $ 1,733 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 159 | 10 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 578 | 101 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 18 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 10,773 | 1,834 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 177 | $ 10 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security | 337 | 129 |
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 | $ 360 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 4 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 364 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 1 | |
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 | 64 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 64 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 1 | |
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 | 7,849 | $ 914 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 128 | 4 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 220 | 101 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 5 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 8,069 | 1,015 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 133 | 4 |
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 | 1,594 | 819 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 28 | 6 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 354 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 13 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,948 | 819 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 41 | $ 6 |
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 | 328 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 328 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 1 |
Loans and the Allowance for C_3
Loans and the Allowance for Credit Losses (Schedule Of Loan Portfolio, Net Of Unearned Income) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | $ 83,270 | [1] | $ 85,266 |
Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 41,748 | 42,870 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 5,446 | 5,405 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 252 | 300 | |
Commercial Investor Real Estate Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 5,608 | 5,394 | |
Commercial Investor Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 1,704 | 1,869 | |
Residential First Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 17,347 | 16,575 | |
Home Equity Line [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 3,875 | 4,539 | |
Home Equity Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 2,556 | 2,713 | |
Indirect-vehicles [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 500 | 934 | |
Indirect-other consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 2,123 | 2,431 | |
Consumer Credit Card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 1,136 | 1,213 | |
Other consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 975 | 1,023 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 47,446 | 48,575 | |
Total Investor Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 7,312 | 7,263 | |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | $ 28,512 | [1] | $ 29,428 |
[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. |
Loans and the Allowance for C_4
Loans and the Allowance for Credit Losses (Analysis of the Allowance for Credit Losses by Portfolio Segment) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jan. 01, 2020 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan losses, beginning of period | $ 1,597,000,000 | $ 2,276,000,000 | $ 2,167,000,000 | $ 869,000,000 | |
Provision (credit) for loan and lease losses | (139,000,000) | 113,000,000 | (579,000,000) | 1,327,000,000 | |
Loan losses: | |||||
Charge-offs | (59,000,000) | (139,000,000) | (256,000,000) | (487,000,000) | |
Recoveries | 29,000,000 | 26,000,000 | 96,000,000 | 69,000,000 | |
Net loan losses | (30,000,000) | (113,000,000) | (160,000,000) | (418,000,000) | |
Total allowance for loan losses | 1,428,000,000 | 2,276,000,000 | 1,428,000,000 | 2,276,000,000 | |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||
Reserve For Unfunded Credit Commitments, beginning of period | 87,000,000 | 149,000,000 | 126,000,000 | 45,000,000 | |
Provision (credit) for unfunded credit losses | (16,000,000) | 0 | (55,000,000) | 41,000,000 | |
Reserve For Unfunded Credit Commitments, end of period | 71,000,000 | 149,000,000 | 71,000,000 | 149,000,000 | |
Allowance for Credit Losses, end of period | 1,499,000,000 | 2,425,000,000 | 1,499,000,000 | 2,425,000,000 | |
Unfunded credit commitments, Change in Method, Credit Loss Expense | $ 63,000,000 | ||||
Accounts Receivable, Change in Method, Credit Loss Expense (Reversal) | 438,000,000 | ||||
Portion of ending allowance for loan losses: | |||||
Total allowance for loan losses | 1,428,000,000 | 2,276,000,000 | 1,428,000,000 | 2,276,000,000 | |
Portion of loan portfolio ending balance: | |||||
Loan and Lease Receivable, Allowance, Beginning Balance as adjusted for CECL | 1,307,000,000 | ||||
Reserve For Unfunded Credit Commitments, Beginning Balance as adjusted for CECL | 108,000,000 | ||||
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | (60,000,000) | ||||
Commercial Portfolio Segment [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan losses, beginning of period | 858,000,000 | 1,271,000,000 | 1,196,000,000 | 537,000,000 | |
Provision (credit) for loan and lease losses | (122,000,000) | 59,000,000 | (408,000,000) | 932,000,000 | |
Loan losses: | |||||
Charge-offs | (22,000,000) | (86,000,000) | (105,000,000) | (299,000,000) | |
Recoveries | 16,000,000 | 11,000,000 | 47,000,000 | 28,000,000 | |
Net loan losses | (6,000,000) | (75,000,000) | (58,000,000) | (271,000,000) | |
Total allowance for loan losses | 730,000,000 | 1,255,000,000 | 730,000,000 | 1,255,000,000 | |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||
Reserve For Unfunded Credit Commitments, beginning of period | 61,000,000 | 107,000,000 | 97,000,000 | 41,000,000 | |
Provision (credit) for unfunded credit losses | (7,000,000) | 26,000,000 | (43,000,000) | 56,000,000 | |
Reserve For Unfunded Credit Commitments, end of period | 54,000,000 | 133,000,000 | 54,000,000 | 133,000,000 | |
Allowance for Credit Losses, end of period | 784,000,000 | 1,388,000,000 | 784,000,000 | 1,388,000,000 | |
Unfunded credit commitments, Change in Method, Credit Loss Expense | 36,000,000 | ||||
Accounts Receivable, Change in Method, Credit Loss Expense (Reversal) | (3,000,000) | ||||
Portion of ending allowance for loan losses: | |||||
Total allowance for loan losses | 730,000,000 | 1,255,000,000 | 730,000,000 | 1,255,000,000 | |
Portion of loan portfolio ending balance: | |||||
Loan and Lease Receivable, Allowance, Beginning Balance as adjusted for CECL | 534,000,000 | ||||
Reserve For Unfunded Credit Commitments, Beginning Balance as adjusted for CECL | 77,000,000 | ||||
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | (60,000,000) | ||||
Total Investor Real Estate [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan losses, beginning of period | 91,000,000 | 160,000,000 | 183,000,000 | 45,000,000 | |
Provision (credit) for loan and lease losses | (3,000,000) | 30,000,000 | (78,000,000) | 137,000,000 | |
Loan losses: | |||||
Charge-offs | 0 | 0 | (19,000,000) | 0 | |
Recoveries | 1,000,000 | 0 | 3,000,000 | 1,000,000 | |
Net loan losses | 1,000,000 | 0 | (16,000,000) | 1,000,000 | |
Total allowance for loan losses | 89,000,000 | 190,000,000 | 89,000,000 | 190,000,000 | |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||
Reserve For Unfunded Credit Commitments, beginning of period | 13,000,000 | 27,000,000 | 14,000,000 | 4,000,000 | |
Provision (credit) for unfunded credit losses | (5,000,000) | (22,000,000) | (6,000,000) | (12,000,000) | |
Reserve For Unfunded Credit Commitments, end of period | 8,000,000 | 5,000,000 | 8,000,000 | 5,000,000 | |
Allowance for Credit Losses, end of period | 97,000,000 | 195,000,000 | 97,000,000 | 195,000,000 | |
Unfunded credit commitments, Change in Method, Credit Loss Expense | 13,000,000 | ||||
Accounts Receivable, Change in Method, Credit Loss Expense (Reversal) | 7,000,000 | ||||
Portion of ending allowance for loan losses: | |||||
Total allowance for loan losses | 89,000,000 | 190,000,000 | 89,000,000 | 190,000,000 | |
Portion of loan portfolio ending balance: | |||||
Loan and Lease Receivable, Allowance, Beginning Balance as adjusted for CECL | 52,000,000 | ||||
Reserve For Unfunded Credit Commitments, Beginning Balance as adjusted for CECL | 17,000,000 | ||||
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | 0 | ||||
Consumer Portfolio Segment [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for loan losses, beginning of period | 648,000,000 | 845,000,000 | 788,000,000 | 287,000,000 | |
Provision (credit) for loan and lease losses | (14,000,000) | 24,000,000 | (93,000,000) | 258,000,000 | |
Loan losses: | |||||
Charge-offs | (37,000,000) | (53,000,000) | (132,000,000) | (188,000,000) | |
Recoveries | 12,000,000 | 15,000,000 | 46,000,000 | 40,000,000 | |
Net loan losses | (25,000,000) | (38,000,000) | (86,000,000) | (148,000,000) | |
Total allowance for loan losses | 609,000,000 | 831,000,000 | 609,000,000 | 831,000,000 | |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||
Reserve For Unfunded Credit Commitments, beginning of period | 13,000,000 | 15,000,000 | 15,000,000 | 0 | |
Provision (credit) for unfunded credit losses | (4,000,000) | (4,000,000) | (6,000,000) | (3,000,000) | |
Reserve For Unfunded Credit Commitments, end of period | 9,000,000 | 11,000,000 | 9,000,000 | 11,000,000 | |
Allowance for Credit Losses, end of period | 618,000,000 | 842,000,000 | 618,000,000 | 842,000,000 | |
Unfunded credit commitments, Change in Method, Credit Loss Expense | 14,000,000 | ||||
Accounts Receivable, Change in Method, Credit Loss Expense (Reversal) | 434,000,000 | ||||
Portion of ending allowance for loan losses: | |||||
Total allowance for loan losses | $ 609,000,000 | $ 831,000,000 | $ 609,000,000 | 831,000,000 | |
Portion of loan portfolio ending balance: | |||||
Loan and Lease Receivable, Allowance, Beginning Balance as adjusted for CECL | 721,000,000 | ||||
Reserve For Unfunded Credit Commitments, Beginning Balance as adjusted for CECL | $ 14,000,000 | ||||
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | $ 0 |
Loans and the Allowance for C_5
Loans and the Allowance for Credit Losses (Credit Quality Indicators) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | $ 17,105 | $ 23,532 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 16,019 | 13,322 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,051 | 9,190 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,763 | 5,618 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,976 | 3,912 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,307 | 8,685 | ||
Financing Receivable, Revolving | 20,765 | 20,657 | ||
Financing Receivable, Revolving Converted to Amortizing | 84 | 76 | ||
Financing Receivable, Unallocated | [1] | 200 | 274 | |
Loans, net of unearned income | 83,270 | [1] | 85,266 | |
Commercial And Industrial [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 9,262 | 12,476 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6,282 | 6,474 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,730 | 4,101 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,443 | 2,572 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,874 | 1,214 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,938 | 2,564 | ||
Financing Receivable, Revolving | 14,324 | 13,508 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (105) | (39) | |
Loans, net of unearned income | 41,748 | 42,870 | ||
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 1,120 | 1,414 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,268 | 974 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 793 | 971 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 775 | 606 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 460 | 421 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 894 | 874 | ||
Financing Receivable, Revolving | 141 | 148 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (5) | (3) | |
Loans, net of unearned income | 5,446 | 5,405 | ||
Commercial Real Estate Construction - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 43 | 62 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 62 | 78 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 29 | 40 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 35 | 30 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 26 | 30 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 56 | 51 | ||
Financing Receivable, Revolving | 1 | 9 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 252 | 300 | ||
Commercial Investor Real Estate Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 1,531 | 1,737 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,015 | 1,478 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,467 | 1,271 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 830 | 267 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 162 | 67 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 123 | 179 | ||
Financing Receivable, Revolving | 486 | 400 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (6) | (5) | |
Loans, net of unearned income | 5,608 | 5,394 | ||
Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 134 | 255 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 303 | 638 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 527 | 297 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 79 | 1 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | 0 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2 | 1 | ||
Financing Receivable, Revolving | 668 | 688 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (10) | (11) | |
Loans, net of unearned income | 1,704 | 1,869 | ||
Residential First Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 3,760 | 6,383 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6,107 | 2,094 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,524 | 1,048 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 670 | 1,266 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 875 | 1,534 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,244 | 4,098 | ||
Financing Receivable, Revolving | 10 | 10 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 157 | 142 | |
Loans, net of unearned income | 17,347 | 16,575 | ||
Home Equity Line [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 3,762 | 4,433 | ||
Financing Receivable, Revolving Converted to Amortizing | 84 | 76 | ||
Financing Receivable, Unallocated | [1] | 29 | 30 | |
Loans, net of unearned income | 3,875 | 4,539 | ||
Home Equity Loan [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 524 | 498 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 408 | 317 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 226 | 298 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 211 | 403 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 298 | 386 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 870 | 790 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 19 | 21 | |
Loans, net of unearned income | 2,556 | 2,713 | ||
Indirect-vehicles [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 30 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19 | 445 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 273 | 214 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 117 | 154 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 82 | 74 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 9 | 17 | |
Loans, net of unearned income | 500 | 934 | ||
Indirect-other consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 383 | 346 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 381 | 992 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 605 | 596 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 390 | 217 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 147 | 96 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 93 | 49 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 124 | 135 | |
Loans, net of unearned income | 2,123 | 2,431 | ||
Consumer Credit Card [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 1,150 | 1,228 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (14) | (15) | |
Loans, net of unearned income | 1,136 | 1,213 | ||
Other consumer | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 348 | 361 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 193 | 247 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 131 | 123 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 57 | 42 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 16 | 10 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5 | 5 | ||
Financing Receivable, Revolving | 223 | 233 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 2 | 2 | |
Loans, net of unearned income | 975 | 1,023 | ||
Pass [Member] | Commercial And Industrial [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 9,076 | 12,260 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6,132 | 6,115 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,429 | 3,550 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,155 | 2,413 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,813 | 1,166 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,835 | 2,493 | ||
Financing Receivable, Revolving | 13,312 | 12,138 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (105) | (39) | |
Loans, net of unearned income | [2] | 39,647 | 40,096 | |
Pass [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 1,114 | 1,379 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,213 | 882 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 740 | 913 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 734 | 547 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 425 | 401 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 845 | 801 | ||
Financing Receivable, Revolving | 139 | 140 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (5) | (3) | |
Loans, net of unearned income | 5,205 | 5,060 | ||
Pass [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 43 | 61 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 61 | 75 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 28 | 39 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 31 | 24 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 22 | 24 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 46 | 40 | ||
Financing Receivable, Revolving | 1 | 9 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 232 | 272 | ||
Pass [Member] | Commercial Investor Real Estate Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 1,464 | 1,663 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 841 | 1,243 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,138 | 1,137 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 770 | 252 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 139 | 65 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 103 | 162 | ||
Financing Receivable, Revolving | 479 | 332 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (6) | (5) | |
Loans, net of unearned income | 4,928 | 4,849 | ||
Pass [Member] | Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 133 | 224 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 295 | 601 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 524 | 266 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 79 | 1 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | 0 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2 | 1 | ||
Financing Receivable, Revolving | 668 | 679 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (10) | (11) | |
Loans, net of unearned income | 1,692 | 1,761 | ||
Special Mention [Member] | Commercial And Industrial [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 39 | 133 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 80 | 250 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 187 | 376 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 177 | 84 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 24 | 5 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 77 | 48 | ||
Financing Receivable, Revolving | 515 | 722 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 1,099 | 1,618 | ||
Special Mention [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 3 | 18 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 41 | 31 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4 | 23 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 19 | 22 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6 | 10 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 18 | 44 | ||
Financing Receivable, Revolving | 1 | 6 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | 0 | ||
Loans, net of unearned income | 92 | 154 | ||
Special Mention [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 1 | ||
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 | 2 | 2 | ||
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 | [1] | 0 | |
Loans, net of unearned income | 3 | 5 | ||
Special Mention [Member] | Commercial Investor Real Estate Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 28 | 5 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 107 | 77 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 163 | 76 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2 | 15 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8 | 0 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9 | 7 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 317 | 180 | ||
Special Mention [Member] | Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 1 | 30 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8 | 36 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3 | 31 | ||
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 | 9 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 12 | 106 | ||
Substandard [Member] | Commercial And Industrial [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 74 | 41 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 45 | 50 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 60 | 78 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 100 | 55 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 23 | 20 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9 | 4 | ||
Financing Receivable, Revolving | 332 | 490 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 643 | 738 | ||
Substandard [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 1 | 3 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8 | 38 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 38 | 16 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8 | 16 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9 | 4 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 17 | 15 | ||
Financing Receivable, Revolving | 0 | 2 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | 0 | ||
Loans, net of unearned income | 81 | 94 | ||
Substandard [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 3 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 1 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2 | 3 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3 | 4 | ||
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 | [1] | 0 | |
Loans, net of unearned income | 6 | 14 | ||
Substandard [Member] | Commercial Investor Real Estate Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 39 | 69 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 67 | 114 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 166 | 57 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 57 | 0 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 15 | 2 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 8 | 9 | ||
Financing Receivable, Revolving | 7 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 359 | 251 | ||
Substandard [Member] | Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 1 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 1 | ||
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 | [1] | 0 | |
Loans, net of unearned income | 0 | 2 | ||
Non Accrual [Member] | Commercial And Industrial [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 73 | 42 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 25 | 59 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 54 | 97 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11 | 20 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 14 | 23 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 17 | 19 | ||
Financing Receivable, Revolving | 165 | 158 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 359 | 418 | ||
Non Accrual [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 2 | 14 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6 | 23 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 11 | 19 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 14 | 21 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20 | 6 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 14 | 14 | ||
Financing Receivable, Revolving | 1 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 68 | 97 | ||
Non Accrual [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1 | 0 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1 | 0 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 1 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | 0 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 8 | 8 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 11 | 9 | ||
Non Accrual [Member] | Commercial Investor Real Estate Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 44 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 1 | ||
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 | 3 | 1 | ||
Financing Receivable, Revolving | 0 | 68 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 4 | 114 | ||
Non Accrual [Member] | Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | [1] | 0 | |
Loans, net of unearned income | 0 | 0 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 10,425 | 13,952 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,612 | 7,526 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,552 | 5,112 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,253 | 3,208 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,360 | 1,665 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,888 | 3,489 | ||
Financing Receivable, Revolving | 14,466 | 13,665 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (110) | (42) | |
Loans, net of unearned income | 47,446 | 48,575 | ||
Total Investor Real Estate [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 1,665 | 1,992 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,318 | 2,116 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,994 | 1,568 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 909 | 268 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 163 | 67 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 125 | 180 | ||
Financing Receivable, Revolving | 1,154 | 1,088 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (16) | (16) | |
Loans, net of unearned income | 7,312 | 7,263 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 5,015 | 7,588 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,089 | 3,680 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,505 | 2,510 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,601 | 2,142 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,453 | 2,180 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,294 | 5,016 | ||
Financing Receivable, Revolving | 5,145 | 5,904 | ||
Financing Receivable, Revolving Converted to Amortizing | 84 | 76 | ||
Financing Receivable, Unallocated | [1] | 326 | 332 | |
Loans, net of unearned income | 28,512 | [1] | 29,428 | |
FICO Scores, Above 720 [Member] | Residential First Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 3,148 | 5,564 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,452 | 1,738 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,248 | 809 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 491 | 1,023 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 694 | 1,279 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,878 | 2,709 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 13,911 | 13,122 | ||
FICO Scores, Above 720 [Member] | Home Equity Line [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 2,855 | 3,334 | ||
Financing Receivable, Revolving Converted to Amortizing | 48 | 45 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 2,903 | 3,379 | ||
FICO Scores, Above 720 [Member] | Home Equity Loan [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 430 | 417 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 348 | 251 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 176 | 233 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 164 | 325 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 239 | 304 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 653 | 580 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 2,010 | 2,110 | ||
FICO Scores, Above 720 [Member] | Indirect-vehicles [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 18 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12 | 305 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 189 | 137 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 75 | 92 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 46 | 40 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 322 | 592 | ||
FICO Scores, Above 720 [Member] | Indirect-other consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 314 | 297 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 311 | 721 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 430 | 392 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 260 | 138 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 96 | 60 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 60 | 31 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 1,471 | 1,639 | ||
FICO Scores, Above 720 [Member] | Consumer Credit Card [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 642 | 667 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | 0 | ||
Loans, net of unearned income | 642 | 667 | ||
FICO Scores, Above 720 [Member] | Other consumer | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 174 | 209 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 131 | 163 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 89 | 84 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 41 | 30 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 12 | 7 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3 | 3 | ||
Financing Receivable, Revolving | 113 | 117 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 563 | 613 | ||
FICO Scores, 681-720 [Member] | Residential First Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 365 | 525 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 385 | 189 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 125 | 103 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 65 | 112 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 70 | 113 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 388 | 360 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 1,398 | 1,402 | ||
FICO Scores, 681-720 [Member] | Home Equity Line [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 398 | 492 | ||
Financing Receivable, Revolving Converted to Amortizing | 12 | 10 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 410 | 502 | ||
FICO Scores, 681-720 [Member] | Home Equity Loan [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 65 | 57 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 40 | 40 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 28 | 35 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 22 | 39 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 26 | 37 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 81 | 76 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 262 | 284 | ||
FICO Scores, 681-720 [Member] | Indirect-vehicles [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 5 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3 | 50 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 29 | 22 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 12 | 16 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9 | 8 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 53 | 101 | ||
FICO Scores, 681-720 [Member] | Indirect-other consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 58 | 39 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 53 | 173 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 109 | 116 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 74 | 41 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 28 | 18 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 17 | 9 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 339 | 396 | ||
FICO Scores, 681-720 [Member] | Consumer Credit Card [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 236 | 255 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | 0 | ||
Loans, net of unearned income | 236 | 255 | ||
FICO Scores, 681-720 [Member] | Other consumer | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 56 | 61 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 33 | 44 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 22 | 20 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8 | 5 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2 | 1 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 1 | ||
Financing Receivable, Revolving | 53 | 52 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 175 | 184 | ||
FICO Scores, 620-680 [Member] | Residential First Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 172 | 211 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 176 | 100 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 86 | 73 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 58 | 64 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 52 | 67 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 390 | 404 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 934 | 919 | ||
FICO Scores, 620-680 [Member] | Home Equity Line [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 269 | 319 | ||
Financing Receivable, Revolving Converted to Amortizing | 12 | 11 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 281 | 330 | ||
FICO Scores, 620-680 [Member] | Home Equity Loan [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 24 | 21 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 15 | 17 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 14 | 19 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 14 | 22 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 17 | 25 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 67 | 65 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 151 | 169 | ||
FICO Scores, 620-680 [Member] | Indirect-vehicles [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 4 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2 | 44 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 27 | 23 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 12 | 18 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 10 | 8 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 51 | 97 | ||
FICO Scores, 620-680 [Member] | Indirect-other consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 11 | 9 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 14 | 73 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 49 | 63 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 41 | 27 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 17 | 12 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11 | 6 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 143 | 190 | ||
FICO Scores, 620-680 [Member] | Consumer Credit Card [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 189 | 208 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | 0 | ||
Loans, net of unearned income | 189 | 208 | ||
FICO Scores, 620-680 [Member] | Other consumer | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 38 | 34 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 22 | 28 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 14 | 13 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5 | 4 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | 1 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 1 | ||
Financing Receivable, Revolving | 39 | 42 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 120 | 123 | ||
FICO Scores, Below 620 [Member] | Residential First Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 28 | 31 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 47 | 44 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 44 | 50 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 47 | 51 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 48 | 60 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 471 | 499 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 685 | 735 | ||
FICO Scores, Below 620 [Member] | Home Equity Line [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 142 | 181 | ||
Financing Receivable, Revolving Converted to Amortizing | 8 | 7 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 150 | 188 | ||
FICO Scores, Below 620 [Member] | Home Equity Loan [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 4 | 2 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3 | 7 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6 | 9 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8 | 13 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11 | 15 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 49 | 52 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 81 | 98 | ||
FICO Scores, Below 620 [Member] | Indirect-vehicles [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 3 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2 | 42 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 25 | 26 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 15 | 24 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 14 | 14 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 56 | 109 | ||
FICO Scores, Below 620 [Member] | Indirect-other consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 1 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3 | 22 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 14 | 22 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 12 | 9 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5 | 5 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4 | 2 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 38 | 61 | ||
FICO Scores, Below 620 [Member] | Consumer Credit Card [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 75 | 91 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | 0 | ||
Loans, net of unearned income | 75 | 91 | ||
FICO Scores, Below 620 [Member] | Other consumer | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 9 | 11 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7 | 11 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6 | 6 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3 | 3 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | 1 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 | ||
Financing Receivable, Revolving | 15 | 19 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | 0 | [1] | 0 | |
Loans, net of unearned income | 41 | 51 | ||
FICO Scores, Data not available [Member] [Member] | Residential First Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 47 | 52 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 47 | 23 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 21 | 13 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9 | 16 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11 | 15 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 117 | 126 | ||
Financing Receivable, Revolving | 10 | 10 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 157 | 142 | |
Loans, net of unearned income | 419 | 397 | ||
FICO Scores, Data not available [Member] [Member] | Home Equity Line [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 98 | 107 | ||
Financing Receivable, Revolving Converted to Amortizing | 4 | 3 | ||
Financing Receivable, Unallocated | [1] | 29 | 30 | |
Loans, net of unearned income | 131 | 140 | ||
FICO Scores, Data not available [Member] [Member] | Home Equity Loan [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 1 | 1 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2 | 2 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2 | 2 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3 | 4 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5 | 5 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 20 | 17 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 19 | 21 | |
Loans, net of unearned income | 52 | 52 | ||
FICO Scores, Data not available [Member] [Member] | Indirect-vehicles [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 4 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3 | 6 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3 | 4 | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3 | 4 | ||
Financing Receivable, Revolving | 0 | 0 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 9 | 17 | |
Loans, net of unearned income | 18 | 35 | ||
FICO Scores, Data not available [Member] [Member] | Indirect-other consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 3 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3 | 3 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3 | 2 | ||
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | 1 | ||
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 | [1] | 124 | 135 | |
Loans, net of unearned income | 132 | 145 | ||
FICO Scores, Data not available [Member] [Member] | Consumer Credit Card [Member] | ||||
Financing Receivable, Credit Quality Indicator [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 | 8 | 7 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | (14) | (15) | |
Loans, net of unearned income | 6 | 8 | ||
FICO Scores, Data not available [Member] [Member] | Other consumer | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Financing Receivable, Originated in Current Fiscal Year | 71 | 46 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 1 | ||
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 | 3 | ||
Financing Receivable, Revolving Converted to Amortizing | 0 | 0 | ||
Financing Receivable, Unallocated | [1] | 2 | 2 | |
Loans, net of unearned income | $ 76 | $ 52 | ||
[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] | Commercial and industrial lending includes PPP lending in the 2020 and 2021 vintage years. |
Loans and the Allowance for C_6
Loans and the Allowance for Credit Losses (Schedule of Aging Analysis Of Days Past Due (DPD) For Each Portfolio Class) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 | |
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | $ 168 | $ 221 | |
Total Accrual | 82,740 | 84,521 | |
Nonaccrual | 530 | 745 | |
Loans, net of unearned income | 83,270 | [1] | 85,266 |
Financing Receivable, Total 30 Days for more past due | 385 | 554 | |
Commercial And Industrial [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 3 | 7 | |
Total Accrual | 41,389 | 42,452 | |
Nonaccrual | 359 | 418 | |
Loans, net of unearned income | 41,748 | 42,870 | |
Financing Receivable, Total 30 Days for more past due | 37 | 66 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 2 | 1 | |
Total Accrual | 5,378 | 5,308 | |
Nonaccrual | 68 | 97 | |
Loans, net of unearned income | 5,446 | 5,405 | |
Financing Receivable, Total 30 Days for more past due | 9 | 6 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total Accrual | 241 | 291 | |
Nonaccrual | 11 | 9 | |
Loans, net of unearned income | 252 | 300 | |
Financing Receivable, Total 30 Days for more past due | 1 | 1 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 5 | 8 | |
Total Accrual | 47,008 | 48,051 | |
Nonaccrual | 438 | 524 | |
Loans, net of unearned income | 47,446 | 48,575 | |
Financing Receivable, Total 30 Days for more past due | 47 | 73 | |
Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total Accrual | 5,604 | 5,280 | |
Nonaccrual | 4 | 114 | |
Loans, net of unearned income | 5,608 | 5,394 | |
Financing Receivable, Total 30 Days for more past due | 0 | 3 | |
Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total Accrual | 1,704 | 1,869 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 1,704 | 1,869 | |
Financing Receivable, Total 30 Days for more past due | 0 | 0 | |
Total Investor Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 0 | 0 | |
Total Accrual | 7,308 | 7,149 | |
Nonaccrual | 4 | 114 | |
Loans, net of unearned income | 7,312 | 7,263 | |
Financing Receivable, Total 30 Days for more past due | 0 | 3 | |
Residential First Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 112 | 156 | |
Total Accrual | 17,310 | 16,522 | |
Nonaccrual | 37 | 53 | |
Loans, net of unearned income | 17,347 | 16,575 | |
Financing Receivable, Total 30 Days for more past due | 212 | 301 | |
Home Equity Line [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 20 | 19 | |
Total Accrual | 3,831 | 4,493 | |
Nonaccrual | 44 | 46 | |
Loans, net of unearned income | 3,875 | 4,539 | |
Financing Receivable, Total 30 Days for more past due | 42 | 54 | |
Home Equity Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 13 | 13 | |
Total Accrual | 2,549 | 2,705 | |
Nonaccrual | 7 | 8 | |
Loans, net of unearned income | 2,556 | 2,713 | |
Financing Receivable, Total 30 Days for more past due | 23 | 30 | |
Indirect-vehicles [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 2 | 4 | |
Total Accrual | 500 | 934 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 500 | 934 | |
Financing Receivable, Total 30 Days for more past due | 10 | 23 | |
Indirect-other consumer [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 3 | 5 | |
Total Accrual | 2,123 | 2,431 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 2,123 | 2,431 | |
Financing Receivable, Total 30 Days for more past due | 14 | 25 | |
Consumer Credit Card [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 11 | 14 | |
Total Accrual | 1,136 | 1,213 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 1,136 | 1,213 | |
Financing Receivable, Total 30 Days for more past due | 23 | 28 | |
Other consumer | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 2 | 2 | |
Total Accrual | 975 | 1,023 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 975 | 1,023 | |
Financing Receivable, Total 30 Days for more past due | 14 | 17 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
90 plus DPD, Accrual Loans | 163 | 213 | |
Total Accrual | 28,424 | 29,321 | |
Nonaccrual | 88 | 107 | |
Loans, net of unearned income | 28,512 | 29,428 | |
Financing Receivable, Total 30 Days for more past due | 338 | 478 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 61 | 103 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 8 | 22 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 2 | 1 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 1 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 11 | 23 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Total Investor Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential First Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 29 | 41 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity Line [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 5 | 11 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 4 | 7 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Indirect-vehicles [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 2 | 4 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Indirect-other consumer [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 4 | 8 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Credit Card [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 5 | 6 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Other consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 1 | 3 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 50 | 80 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 156 | 230 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 26 | 37 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 5 | 4 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 0 | 1 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 31 | 42 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 0 | 3 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Total Investor Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 0 | 3 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential First Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 71 | 104 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity Line [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 17 | 24 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 6 | 10 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Indirect-vehicles [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 6 | 15 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Indirect-other consumer [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 7 | 12 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Credit Card [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 7 | 8 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Other consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | 11 | 12 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Financing Receiable, Past Due between 30 and 89 Days | $ 125 | $ 185 | |
[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. |
Loans and the Allowance for C_7
Loans and the Allowance for Credit Losses (Loans By Class Modified In TDR) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021USD ($)obligor | Sep. 30, 2020USD ($)obligor | Sep. 30, 2021USD ($)obligor | Sep. 30, 2020USD ($)obligor | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 180 | 152 | 642 | 396 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 50 | $ 109 | $ 244 | $ 323 |
Increase in Allowance at Modification | $ 2 | $ 4 | $ 7 | $ 6 |
Commercial And Industrial [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 18 | 26 | 59 | 119 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 24 | $ 27 | $ 74 | $ 221 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 10 | 7 | 24 | 17 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 4 | $ 9 | $ 7 | $ 14 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Construction - Owner-Occupied [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 1 | 0 | 2 | 1 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1 | $ 0 | $ 2 | $ 1 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial investor real estate mortgage [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 1 | 2 | 7 | 9 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1 | $ 36 | $ 77 | $ 37 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 0 | 2 | 0 | 3 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 4 | $ 0 | $ 4 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Residential First Mortgage [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 99 | 94 | 435 | 177 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 16 | $ 32 | $ 77 | $ 43 |
Increase in Allowance at Modification | $ 2 | $ 4 | $ 7 | $ 6 |
Home Equity Line [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 1 | 0 | 6 | 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 0 | $ 1 | $ 0 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Home Equity Loan [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 33 | 9 | 40 | 36 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 3 | $ 1 | $ 4 | $ 3 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Credit Card [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 1 | 1 | 1 | 12 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 0 | $ 0 | $ 0 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Indirect-vehicles and other consumer [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 16 | 11 | 68 | 22 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1 | $ 0 | $ 2 | $ 0 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 29 | 33 | 85 | 137 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 29 | $ 36 | $ 83 | $ 236 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Total Investor Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 1 | 4 | 7 | 12 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1 | $ 40 | $ 77 | $ 41 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Obligors | obligor | 150 | 115 | 550 | 247 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 20 | $ 33 | $ 84 | $ 46 |
Increase in Allowance at Modification | $ 2 | $ 4 | $ 7 | $ 6 |
Loans and the Allowance for C_8
Loans and the Allowance for Credit Losses (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Payroll Protection Program loans | $ 1,500 | ||
Financing Receivable, Allowance for Credit Loss | 1,499 | $ 2,425 | |
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | (794) | ||
Federal Home Loan Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Pledged loans | 16,200 | ||
Federal Reserve Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Pledged loans | 12,800 | ||
Indirect-other consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Purchase | 986 | $ 1,300 | |
Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Sales-type and direct financing lease receivable | 1,200 | ||
Sales-Type and Direct Financing | 45 | ||
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Nonaccrual, No Allowance | $ 150 | $ 112 |
Servicing of Financial Assets_2
Servicing of Financial Assets (Analysis Of Residential Mortgage Servicing Rights Under The Fair Value Measurement Method) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Servicing Asset at Fair Value, Amount [Roll Forward] | |||||
Carrying value, beginning of period | $ 296 | ||||
Carrying value, end of period | $ 410 | $ 410 | |||
Document Fiscal Year Focus | 2021 | ||||
Residential Mortgage [Member] | |||||
Servicing Asset at Fair Value, Amount [Roll Forward] | |||||
Carrying value, beginning of period | 392 | $ 249 | $ 296 | $ 345 | |
Additions | 39 | 32 | 116 | 67 | |
Increase (decrease) in fair value, due to change in valuation inputs or assumptions | (3) | 0 | 49 | (94) | |
Increase (decrease) in fair value, economic amortization associated with borrower repayments | [1] | (18) | (14) | (51) | (51) |
Carrying value, end of period | $ 410 | $ 267 | $ 410 | $ 267 | |
[1] | "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns. Regions' MSR decay methodology is a discounted net cash flow approach. |
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 Residential Mortgage Servicing Rights) (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2021USD ($)basis_point | Sep. 30, 2020USD ($)basis_point | |
Servicing Assets at Fair Value [Line Items] | ||
Unpaid principal balance | $ 36,370 | $ 33,740 |
Weighted-average prepayment speed (CPR; percentage) | 10.30% | 16.30% |
Estimated impact on fair value of a 10% increase in prepayment speed | $ (30) | $ (22) |
Estimated impact on fair value of a 20% increase in prepayment speed | $ (53) | $ (40) |
Option-adjusted spread (basis points) | basis_point | 530 | 621 |
Estimated impact on fair value of a 10% increase in other assumptions | $ (9) | $ (6) |
Estimated impact on fair value of a 20% increase in other assumptions | $ (18) | $ (12) |
Weighted-average coupon interest rate | 3.60% | 4.00% |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Weighted Average Life | 294 months | 283 months |
Weighted Average Servicing Fee Basis Points | basis_point | 27.3 | 27.4 |
Servicing of Financial Assets_4
Servicing of Financial Assets (Schedule Of Fees Resulting From The Servicing Of Mortgage Loans) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Residential Mortgage [Member] | ||||
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items] | ||||
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset | $ 26 | $ 23 | $ 75 | $ 71 |
Servicing of Financial Assets_5
Servicing of Financial Assets (Analysis of Commercial Mortgage Banking Servicing Rights Under Amortized Cost) (Details) - Commercial Real Estate [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | ||||
Servicing Asset at Amortized Cost, Beginning Balance | $ 86 | $ 64 | $ 74 | $ 59 |
Servicing Asset at Amortized Cost, Additions | 5 | 11 | 24 | 21 |
Servicing Asset at Amortized Cost, Amortization | (4) | (3) | (11) | (8) |
Servicing Asset at Amortized Cost, Ending Balance | $ 87 | $ 72 | $ 87 | $ 72 |
Servicing of Financial Assets_6
Servicing of Financial Assets (Servicing Related Fee For Commercial Mortgage Banking (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Commercial Real Estate [Member] | ||||
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items] | ||||
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset | $ 8 | $ 4 | $ 18 | $ 14 |
Servicing of Financial Assets_7
Servicing of Financial Assets (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Servicing Assets at Fair Value [Line Items] | |||
Payments to Acquire Mortgage Servicing Rights (MSR) | $ 58 | $ 35 | |
Residential mortgage servicing rights at fair value | 410 | $ 296 | |
Flow Purchase price [Domain] | |||
Servicing Assets at Fair Value [Line Items] | |||
Payments to Acquire Mortgage Servicing Rights (MSR) | 58 | $ 35 | |
Commercial Real Estate [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Servicing Asset at Amortized Cost, Fair Value | $ 96 | $ 81 |
Preferred Stock Issuances (Deta
Preferred Stock Issuances (Details) - USD ($) $ / shares in Units, $ in Millions | Aug. 15, 2029 | Sep. 15, 2025 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 15, 2024 | Dec. 31, 2020 | |
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Liquidation Preference, Value | $ 1,750 | $ 1,750 | |||||||||||
Preferred stock | 1,659 | 1,659 | $ 1,656 | ||||||||||
Dividends, Preferred Stock | $ 29 | $ 28 | $ 29 | $ 23 | $ 23 | 84 | $ 75 | ||||||
Series A Preferred Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Percentage | [1],[2] | 6.375% | |||||||||||
Preferred Stock, Liquidation Preference, Value | 0 | 0 | |||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | ||||||||||||
Preferred stock | 0 | $ 0 | $ 387 | ||||||||||
Series B Preferred Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Percentage | [1],[3] | 6.375% | |||||||||||
Preferred Stock, Liquidation Preference, Value | $ 500 | $ 500 | |||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | $ 1,000 | |||||||||||
Preferred stock | $ 433 | $ 433 | 433 | ||||||||||
Series C Preferred Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Percentage | [1],[4] | 5.70% | |||||||||||
Preferred Stock, Liquidation Preference, Value | $ 500 | $ 500 | |||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | $ 1,000 | |||||||||||
Preferred stock | $ 490 | $ 490 | 490 | ||||||||||
Series D Preferred Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Percentage | [1],[5] | 5.75% | |||||||||||
Preferred Stock, Liquidation Preference, Value | $ 350 | $ 350 | |||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 100,000 | $ 100,000 | |||||||||||
Preferred stock | $ 346 | $ 346 | 346 | ||||||||||
Dividends, Preferred Stock | $ 6 | $ 15 | |||||||||||
Series E Preferred Stock | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Percentage | [1] | 4.45% | |||||||||||
Preferred Stock, Liquidation Preference, Value | $ 400 | $ 400 | |||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | $ 1,000 | |||||||||||
Preferred stock | $ 390 | $ 390 | $ 0 | ||||||||||
Dividends, Preferred Stock | $ 7 | ||||||||||||
us-gaap_SeriesAandBandCPreferredStockMember | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Dividends, Preferred Stock | $ 62 | $ 69 | |||||||||||
Forecast [Member] | Series B Preferred Stock Dividend Scenario 1 [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.375% | ||||||||||||
Forecast [Member] | Series C Preferred Stock Dividend Scenario 1 [Member] [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Percentage | 5.70% | ||||||||||||
Plus 3-Month LIBOR [Member] | Forecast [Member] | 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 LIBOR [Member] | Forecast [Member] | 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% | ||||||||||||
Plus 5-year Treasury rate [Member] | Forecast [Member] | Series D Preferred Stock Dividend Scenario 1 [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Percentage | 5.75% | ||||||||||||
Plus 5-year Treasury rate [Member] | Forecast [Member] | Series D Preferred Stock Dividend Scenario 2 [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Dividend Rate, Basis Spread on Variable Rate, Percentage | 5.426% | ||||||||||||
Depositary Shares [Member] | Series A Preferred Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | ||||||||||||
Depositary Shares [Member] | Series B Preferred Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | $ 25 | |||||||||||
Depositary Shares [Member] | Series C Preferred Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Liquidation Preference Per Share | 25 | 25 | |||||||||||
Depositary Shares [Member] | Series D Preferred Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Liquidation Preference Per Share | 1,000 | 1,000 | |||||||||||
Depositary Shares [Member] | Series E Preferred Stock | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | $ 25 | |||||||||||
[1] | Dividends on all series of preferred stock, if declared, accrue and are payable quarterly in arrears. | ||||||||||||
[2] | The shares were fully redeemed on June 15, 2021. | ||||||||||||
[3] | 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 LIBOR plus 3.536%. | ||||||||||||
[4] | 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 LIBOR plus 3.148%. | ||||||||||||
[5] | 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%. |
Schedule of Accumulated Other C
Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||||||
AOCI before Tax, Attributable to Parent | $ 871 | $ 1,759 | $ 2,174 | $ (120) | $ 1,759 | $ (120) | ||||||
Other Comprehensive Income (Loss), before Tax | (161) | (82) | (1,049) | 2,212 | ||||||||
AOCI before Tax, Attributable to Parent | 710 | $ 871 | 2,092 | $ 2,174 | 710 | 2,092 | ||||||
AOCI Tax, Attributable to Parent | [1] | (220) | (444) | (548) | 30 | (444) | 30 | |||||
Unrealized holding gains (losses) on available for sale securities, tax | (24) | 0 | (139) | 212 | ||||||||
Other Comprehensive Income (Loss), Tax | [1] | 42 | 21 | 266 | (557) | |||||||
AOCI Tax, Attributable to Parent | [1] | (178) | (220) | (527) | (548) | (178) | (527) | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | 651 | 1,315 | 1,626 | (90) | 1,315 | (90) | ||||||
Unrealized holding gains (losses) arising during the period on securities available for sale (net of tax) | (75) | (2) | (414) | 629 | ||||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 0 | (2) | (2) | (3) | ||||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax | (63) | (68) | (409) | 999 | ||||||||
Other comprehensive income (loss), net of tax | (119) | 59 | (723) | (61) | 302 | 1,414 | (783) | 1,655 | ||||
Accumulated other comprehensive income, net | 532 | 651 | 1,565 | 1,626 | 532 | 1,565 | ||||||
Accumulated Net Unrealized Loss on Held To Maturity Securities [Member] | ||||||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||||||
AOCI before Tax, Attributable to Parent | (17) | (21) | (27) | (29) | (21) | (29) | ||||||
Other Comprehensive Loss, Held-to-maturity Security, Reclassification Adjustment from AOCI for Noncredit Portion of OTTI, before Tax | [2] | 2 | 4 | 6 | 6 | |||||||
AOCI before Tax, Attributable to Parent | (15) | (17) | (23) | (27) | (15) | (23) | ||||||
AOCI Tax, Attributable to Parent | [1] | 4 | 5 | 7 | 7 | 5 | 7 | |||||
Other Comprehensive Loss, Held-to-maturity Security, Reclassification Adjustment from AOCI for Noncredit Portion of OTTI, Tax | [1],[2] | 0 | (2) | (1) | (2) | |||||||
AOCI Tax, Attributable to Parent | [1] | 4 | 4 | 5 | 7 | 4 | 5 | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (13) | (16) | (20) | (22) | (16) | (22) | ||||||
Other Comprehensive Loss, Held-to-maturity Security, Adjustment from AOCI for Accretion of Noncredit Portion of OTTI, after Tax | [2] | 2 | 2 | 5 | 4 | |||||||
Accumulated other comprehensive income, net | (11) | (13) | (18) | (20) | (11) | (18) | ||||||
Accumulated Net Unrealized Securities Available For Sale Gain (Loss) [Member] | ||||||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||||||
AOCI before Tax, Attributable to Parent | 606 | 1,062 | 1,116 | 274 | 1,062 | 274 | ||||||
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax | (99) | (2) | (553) | 841 | ||||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | [3] | (1) | (3) | (3) | (4) | |||||||
Other Comprehensive Income (Loss), before Tax | (100) | (5) | (556) | 837 | ||||||||
AOCI before Tax, Attributable to Parent | 506 | 606 | 1,111 | 1,116 | 506 | 1,111 | ||||||
AOCI Tax, Attributable to Parent | [1] | (153) | (268) | (281) | (69) | (268) | (69) | |||||
Unrealized holding gains (losses) on available for sale securities, tax | [1] | 24 | 0 | 139 | (212) | |||||||
Reclassification from AOCI, Current Period, Tax | [1],[3] | (1) | (1) | (1) | (1) | |||||||
Other Comprehensive Income (Loss), Tax | [1] | 25 | 1 | 140 | (211) | |||||||
AOCI Tax, Attributable to Parent | [1] | (128) | (153) | (280) | (281) | (128) | (280) | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | 453 | 794 | 835 | 205 | 794 | 205 | ||||||
Unrealized holding gains (losses) arising during the period on securities available for sale (net of tax) | (75) | (2) | (414) | |||||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | [3] | 0 | (2) | (2) | (3) | |||||||
Other comprehensive income (loss), net of tax | (75) | (4) | (416) | 626 | ||||||||
Accumulated other comprehensive income, net | 378 | 453 | 831 | 835 | 378 | 831 | ||||||
Accumulated Net Gain (Loss) from Derivative Instruments Designated as Cash Flow Hedges [Member] | ||||||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||||||
AOCI before Tax, Attributable to Parent | 1,147 | 1,610 | 1,857 | 430 | 1,610 | 430 | ||||||
OCI, before Reclassifications, before Tax, Attributable to Parent | 24 | 2 | (233) | 1,498 | ||||||||
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | [2] | 108 | 94 | 314 | 163 | |||||||
Other Comprehensive Income (Loss), before Tax | (84) | (92) | (547) | 1,335 | ||||||||
AOCI before Tax, Attributable to Parent | 1,063 | 1,147 | 1,765 | 1,857 | 1,063 | 1,765 | ||||||
AOCI Tax, Attributable to Parent | [1] | (289) | (406) | (468) | (108) | (406) | (108) | |||||
Reclassification from AOCI, Current Period, Tax | [1],[2] | (27) | (24) | (79) | (41) | |||||||
Other Comprehensive Income (Loss) before Reclassifications, Tax | [1] | (6) | 0 | 59 | (377) | |||||||
Other Comprehensive Income (Loss), Tax | [1] | 21 | 24 | 138 | (336) | |||||||
AOCI Tax, Attributable to Parent | [1] | (268) | (289) | (444) | (468) | (268) | (444) | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | 858 | 1,204 | 1,389 | 322 | 1,204 | 322 | ||||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | 18 | 2 | (174) | |||||||||
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | [2] | 81 | 70 | 235 | 122 | |||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax | (409) | 999 | ||||||||||
Other comprehensive income (loss), net of tax | (63) | (68) | ||||||||||
Accumulated other comprehensive income, net | 795 | 858 | 1,321 | 1,389 | 795 | 1,321 | ||||||
Accumulated Defined Benefit Plans Adjustment [Member] | ||||||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||||||
AOCI before Tax, Attributable to Parent | (865) | (892) | (772) | (795) | (892) | (795) | ||||||
AOCI before Tax, Attributable to Parent | (844) | (865) | (761) | (772) | (844) | (761) | ||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | [4] | 21 | 11 | 48 | 34 | |||||||
AOCI Tax, Attributable to Parent | [1] | 218 | 225 | 194 | 200 | 225 | 200 | |||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax | (4) | [1],[4] | (2) | (11) | [1],[4] | (8) | [1],[2] | |||||
AOCI Tax, Attributable to Parent | [1] | 214 | 218 | 192 | 194 | 214 | 192 | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (647) | $ (667) | (578) | $ (595) | (667) | (595) | ||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | 17 | [4] | 9 | 37 | [4] | 26 | [4] | |||||
Accumulated other comprehensive income, net | $ (630) | $ (647) | $ (569) | $ (578) | $ (630) | $ (569) | ||||||
[1] | The impact of all AOCI activity is shown net of the related tax impact, calculated using an effective tax rate of approximately 25%. | |||||||||||
[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 7 for additional details). |
Stockholders' Equity And Accu_3
Stockholders' Equity And Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | May 15, 2029 | Sep. 15, 2025 | Sep. 15, 2024 | Apr. 21, 2021 | |
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||||
Dividends, Preferred Stock | $ (29,000,000) | $ (28,000,000) | $ (29,000,000) | $ (23,000,000) | $ (23,000,000) | $ (84,000,000) | $ (75,000,000) | ||||||
Stock repurchase plan, authorized amount | $ 2,500,000,000 | ||||||||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 8,000 | ||||||||||||
Stock Repurchased During Period, Value | $ 167,000,000 | ||||||||||||
Stock Repurchased during period related to the Company's deferred investment plan for its directors | 1,000 | ||||||||||||
Cash dividend declared (in dollars per share) | $ 0.17 | $ 0.155 | $ 0.48 | $ 0.465 | |||||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax | $ 18,000,000 | 2,000,000 | $ (174,000,000) | $ 1,121,000,000 | |||||||||
us-gaap_SeriesAandBandCPreferredStockMember | |||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||||
Dividends, Preferred Stock | (62,000,000) | $ (69,000,000) | |||||||||||
Series D Preferred Stock [Member] | |||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||||
Dividends, Preferred Stock | $ (6,000,000) | (15,000,000) | |||||||||||
Series E Preferred Stock | |||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||||
Proceeds from (Repurchase of) Redeemable Preferred Stock | $ 10,000,000 | ||||||||||||
Dividends, Preferred Stock | $ (7,000,000) | ||||||||||||
Subsequent Event [Member] | Series B Preferred Stock [Member] | |||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 67,000,000 | ||||||||||||
PreferredDividendsReductiontoRetainedEarningsatRedemption | $ 52,000,000 | ||||||||||||
Subsequent Event [Member] | Series C Preferred Stock [Member] | |||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 10,000,000 | ||||||||||||
Subsequent Event [Member] | Series D Preferred Stock [Member] | |||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 4,000,000 | ||||||||||||
Subsequent Event [Member] | Series E Preferred Stock | |||||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||||
ExcessofRedemptionAmountOverCarryingAmount | $ 10,000,000 |
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 Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 4,000 | 9,000 | 4,000 | 8,000 | ||
Numerator: | ||||||
Net income | $ 651 | $ 530 | $ 2,083 | $ 478 | ||
Preferred stock dividends and other (1) | (27) | [1] | (29) | (97) | [1] | (75) |
Net income available to common shareholders | $ 624 | $ 501 | $ 1,986 | $ 403 | ||
Denominator: | ||||||
Weighted-average common shares outstanding—basic (in shares) | 955,000 | 960,000 | 958,000 | 959,000 | ||
Potential common shares (in shares) | 7,000 | 2,000 | 7,000 | 2,000 | ||
Weighted-average common shares outstanding—diluted (in shares) | 962,000 | 962,000 | 965,000 | 961,000 | ||
Earnings per common share: | ||||||
Basic (in dollars per share) | $ 0.65 | $ 0.52 | $ 2.07 | $ 0.42 | ||
Diluted (in dollars per share) | $ 0.65 | $ 0.52 | $ 2.06 | $ 0.42 | ||
Document Fiscal Year Focus | 2021 | |||||
Series A Preferred Stock [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||
PreferredStockIssuanceCostsReductiontoNetIncome | $ 13 | |||||
[1] | Preferred stock dividends and other for the nine months ended September 30, 2021 includes $13 million of issuance costs associated with the redemption of Series A preferred shares in the second quarter of 2021. |
Pension and Other Postretirem_3
Pension and Other Postretirement Benefits (Schedule of Net Periodic Pension Cost) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | $ 9 | $ 11 | $ 31 | $ 30 |
Interest Cost | 12 | 18 | 37 | 52 |
Expected Return on Plan Assets | (35) | (37) | (106) | (112) |
Amortization of Actuarial Loss | 13 | 11 | 40 | 34 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 8 | 0 | 8 | 0 |
Net Periodic Pension Cost (Credit) | 7 | 3 | $ 10 | 4 |
Document Fiscal Year Focus | 2021 | |||
Pension Plan [Member] | Qualified Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | 9 | 9 | $ 28 | 26 |
Interest Cost | 12 | 17 | 36 | 49 |
Expected Return on Plan Assets | (35) | (37) | (106) | (112) |
Amortization of Actuarial Loss | 12 | 9 | 35 | 29 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | 0 | 0 | 0 |
Net Periodic Pension Cost (Credit) | (2) | (2) | (7) | (8) |
Supplemental Employee Retirement Plan [Member] | Nonqualified Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | 0 | 2 | 3 | 4 |
Interest Cost | 0 | 1 | 1 | 3 |
Expected Return on Plan Assets | 0 | 0 | 0 | 0 |
Amortization of Actuarial Loss | 1 | 2 | 5 | 5 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 8 | 0 | 8 | 0 |
Net Periodic Pension Cost (Credit) | $ 9 | $ 5 | $ 17 | $ 12 |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedging Activities (Schedule of Derivative Instruments Notional and Fair Value) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 | ||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | $ 128,839 | $ 128,614 | ||
Derivative Asset, Fair Value, Gross Asset | 1,632 | 3,349 | ||
Derivative Liabilities, Fair Value, Gross Liability | 1,215 | 1,598 | ||
Derivative Asset netting adjustments | [1] | 991 | 2,428 | |
Derivative Liability, netting adjustments | [1] | 1,159 | 1,545 | |
Derivative Assets | [2] | 641 | 921 | |
Derivative Liabilities | [2] | 56 | 53 | |
Cash Flow Hedge, Floor Premium | 41 | 83 | ||
Terminated Cash Flow Hedge Floor Premium | 32 | |||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | 9,400 | 10,300 | ||
Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | 21,900 | 23,850 | ||
Derivative Asset, Fair Value, Gross Asset | 438 | 1,688 | ||
Derivative Liabilities, Fair Value, Gross Liability | 20 | 0 | ||
Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | 106,939 | 104,764 | ||
Derivative Asset, Fair Value, Gross Asset | 1,194 | 1,661 | ||
Derivative Liabilities, Fair Value, Gross Liability | 1,195 | 1,598 | ||
Interest Rate Swaps [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instrument, Accrued Interest | 12 | 28 | ||
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | 79,155 | 76,764 | ||
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 911 | [3] | 1,492 | |
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liabilities, Fair Value, Gross Liability | 953 | [3] | 1,464 | |
Interest Rate Floor [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instrument, Accrued Interest | 9 | 12 | ||
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | 15,329 | 13,806 | ||
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | [3] | 54 | 90 | |
Interest Rate Options [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liabilities, Fair Value, Gross Liability | [3] | 20 | 28 | |
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | 3,040 | 4,270 | ||
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | [3] | 13 | 11 | |
Interest Rate Futures And Forward Commitments [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liabilities, Fair Value, Gross Liability | [3] | 5 | 26 | |
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | 9,415 | 9,924 | ||
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | [3] | 216 | 68 | |
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liabilities, Fair Value, Gross Liability | [3] | 217 | 80 | |
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | 1,400 | 2,100 | ||
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | [3] | 77 | |
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liabilities, Fair Value, Gross Liability | 19 | [3] | 0 | |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | 20,500 | 21,750 | ||
Derivative Asset, Fair Value, Gross Asset | 438 | 1,611 | ||
Derivative Liabilities, Fair Value, Gross Liability | 1 | 0 | ||
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | [4] | 17,000 | 16,000 | |
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 260 | [3] | 1,181 | |
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liabilities, Fair Value, Gross Liability | 1 | [3] | 0 | |
Cash Flow Hedging [Member] | Interest Rate Floor [Member] | Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount | [5],[6] | 3,500 | 5,750 | |
Cash Flow Hedging [Member] | Interest Rate Floor [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | [3] | 178 | [5] | 430 |
Cash Flow Hedging [Member] | Interest Rate Floor [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liabilities, Fair Value, Gross Liability | 0 | [3],[5] | 0 | |
US Treasury Securities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 24 | $ 24 | ||
[1] | 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. | |||
[2] | The gain amounts, which are not collateralized with cash or other assets or reserved for, represent the net credit risk on all trading and other derivative positions. As of September 30, 2021 and December 31, 2020, financial instruments posted of $24 million, for both periods, were not offset in the consolidated balance sheets. | |||
[3] | 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. | |||
[4] | Includes accrued interest of $12Â million at September 30, 2021 and $28Â million at December 31, 2020, respectively. | |||
[5] | Estimated fair value includes premium of approximately $41 million as of September 30, 2021 and $83Â million as of December 31, 2020 to be amortized over the remaining life. Approximately $32Â million of the decrease since December 31, 2020 related to hedges that were terminated during the first nine months of 2021 and were not amortized into earnings as of the date of termination. | |||
[6] | Includes accrued interest of $9Â million at September 30, 2021 and $12Â million at December 31, 2020, respectively |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedging Activities (Schedule of Terminated Cash Flows) (Details) - Accumulated Net Gain (Loss) from Derivative Instruments Designated as Cash Flow Hedges [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income related to discontinued cash flow hedges, before tax | $ 494 | $ 68 | $ 121 | $ 78 |
Other Comprehensive Income (loss), Unrealized Gain (loss) on terminated cash flow hedges arising during the period, before tax | 243 | 62 | 658 | 56 |
Other Comprehensive Income (loss), Reclassification Adjustment from AOCI on terminated cash flow hedges, before tax | (49) | (3) | (91) | (7) |
Accumulated Other Comprehensive Income related to discontinued cash flow hedges, before tax | $ 688 | $ 127 | $ 688 | $ 127 |
Derivative Financial Instrume_5
Derivative Financial Instruments And Hedging Activities (Schedule Of The Effect Of Derivative Instruments On The Statements Of Operations) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Interest and Fee Income, Loans and Leases Held-in-portfolio | $ 847 | $ 903 | $ 2,550 | $ 2,704 | |
Long-term borrowings | 26 | 39 | 79 | 147 | |
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 | 0 | |
Gain or (Loss) Recognized in Income on Derivatives | 0 | 0 | 0 | 0 | |
Gain or (Loss) Recognized in Income on Related Hedged Item | 0 | 0 | 0 | 0 | |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | 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 | 3 | 12 | 17 | 27 | |
Gain or (Loss) Recognized in Income on Derivatives | (11) | (12) | (37) | 65 | |
Gain or (Loss) Recognized in Income on Related Hedged Item | 11 | 12 | 37 | (65) | |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 3 | 12 | 17 | 27 | |
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 | [1],[2] | 108 | 94 | 314 | 163 |
Net Income (Expense) Recognized on Cash Flow Hedges | [2] | 108 | 94 | 314 | 163 |
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 | [1],[2] | 0 | 0 | 0 | 0 |
Net Income (Expense) Recognized on Cash Flow Hedges | [2] | $ 0 | $ 0 | $ 0 | $ 0 |
[1] | Pre-tax | ||||
[2] | See Note 5 for gain or (loss) recognized for cash flow hedges in AOCI. |
Derivative Financial Instrume_6
Derivative Financial Instruments and Hedging Activities (Schedule of Fair Value Hedging Basis Adjustments) (Details) - Designated as Hedging Item [Member] - Long-term Debt [Member] - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Liability, Fair Value Hedge | $ (1,376) | $ (2,171) |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | $ 21 | $ (64) |
Derivative Financial Instrume_7
Derivative Financial Instruments and Hedging Activities (Schedule of Gains (Losses) Recognized Related to Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | $ 5 | $ 37 | $ 19 | $ 199 |
Capital markets income | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 16 | 20 | 72 | 51 |
Capital markets income | Interest Rate Swaps [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 5 | 15 | 25 | 7 |
Capital markets income | Interest Rate Options [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 8 | (1) | 25 | 31 |
Capital markets income | Interest Rate Futures And Forward Commitments [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 2 | 4 | 14 | 11 |
Capital markets income | Other Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | 1 | 2 | 8 | 2 |
Mortgage Income [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (11) | 17 | (53) | 148 |
Mortgage Income [Member] | Interest Rate Swaps [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (8) | (6) | (46) | 98 |
Mortgage Income [Member] | Interest Rate Options [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | (9) | 12 | (24) | 38 |
Mortgage Income [Member] | Interest Rate Futures And Forward Commitments [Member] | ||||
Derivative [Line Items] | ||||
Gain or (Loss) of Derivatives Not Designated as Hedging Instruments | $ 6 | $ 11 | $ 17 | $ 12 |
Derivative Financial Instrume_8
Derivative Financial Instruments And Hedging Activities (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 341 | ||
Pre-tax net income related to amortization of discontinued cash flow hedges | 259 | ||
Notional Amount | $ 128,839 | 128,839 | $ 128,614 |
Maximum potential future exposure on swap participations | 476 | 476 | |
Aggregate fair value of all derivative instruments with credit risk | 109 | 109 | 74 |
Posted collateral related to derivative instruments with credit risk | 108 | 108 | 74 |
Not Designated as Hedging Instrument [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Notional Amount | 106,939 | 106,939 | 104,764 |
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Notional Amount | 695 | 695 | 924 |
Forward Sale Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Notional Amount | 1,400 | 1,400 | 1,900 |
Forward Rate Commitments and Futures Contracts [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Notional Amount | 4,300 | 4,300 | $ 4,100 |
Interest Rate Floor [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Notional Value of terminated derivatives | 2,300 | ||
Swap | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Notional Value of terminated derivatives | $ 5,000 | $ 10,600 |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Assets And Liabilities At Fair Value Measured On A Recurring Basis And Non-Recurring Basis) (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | $ 28,986,000,000 | $ 27,154,000,000 | ||
Loans held for sale | 857,000,000 | 1,446,000,000 | ||
Residential mortgage servicing rights | 410,000,000 | 296,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 1,632,000,000 | 3,349,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 1,215,000,000 | 1,598,000,000 | ||
Recurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | 28,986,000,000 | 27,154,000,000 | ||
Loans held for sale | 857,000,000 | 1,446,000,000 | ||
Marketable Equity Securities | 507,000,000 | 388,000,000 | ||
Residential mortgage servicing rights | 410,000,000 | 296,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 1,632,000,000 | 3,349,000,000 | ||
Other Assets, Fair Value Disclosure | 0 | 74,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 1,215,000,000 | 1,598,000,000 | ||
Nonrecurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held for sale | [1] | 9,000,000 | 4,000,000 | |
Security Owned Not Readily Marketable, Fair Value | [1] | 25,000,000 | 12,000,000 | |
Foreclosed property and other real estate | [1] | 10,000,000 | 5,000,000 | |
Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | 784,000,000 | 183,000,000 | ||
Loans held for sale | 0 | 0 | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 2,000,000 | ||
Other Assets, Fair Value Disclosure | 0 | |||
Derivative Liabilities, Fair Value, Gross Liability | 0 | 2,000,000 | ||
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 | 784,000,000 | 183,000,000 | ||
Loans held for sale | 0 | 0 | ||
Marketable Equity Securities | 507,000,000 | 388,000,000 | ||
Residential mortgage servicing rights | 0 | 0 | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 2,000,000 | ||
Other Assets, Fair Value Disclosure | 0 | 0 | ||
Derivative Liabilities, Fair Value, Gross Liability | 0 | 2,000,000 | ||
Level 1 [Member] | Nonrecurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held for sale | [1] | 0 | 0 | |
Security Owned Not Readily Marketable, Fair Value | [1] | 0 | 0 | |
Foreclosed property and other real estate | [1] | 0 | 0 | |
Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | 28,200,000,000 | 26,966,000,000 | ||
Loans held for sale | 925,000,000 | 1,901,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 1,612,000,000 | 3,303,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 1,212,000,000 | 1,590,000,000 | ||
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 | 28,200,000,000 | 26,966,000,000 | ||
Loans held for sale | 857,000,000 | 1,446,000,000 | ||
Marketable Equity Securities | 0 | 0 | ||
Residential mortgage servicing rights | 0 | 0 | ||
Derivative Asset, Fair Value, Gross Asset | 1,612,000,000 | 3,303,000,000 | ||
Other Assets, Fair Value Disclosure | 0 | 74,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 1,212,000,000 | 1,590,000,000 | ||
Level 2 [Member] | Nonrecurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held for sale | [1] | 0 | 0 | |
Security Owned Not Readily Marketable, Fair Value | [1] | 0 | 0 | |
Foreclosed property and other real estate | [1] | 0 | 0 | |
Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | 2,000,000 | 5,000,000 | ||
Loans held for sale | 9,000,000 | 4,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 20,000,000 | 44,000,000 | ||
Other Assets, Fair Value Disclosure | 0 | |||
Derivative Liabilities, Fair Value, Gross Liability | 3,000,000 | 6,000,000 | ||
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 | [2] | 2,000,000 | 5,000,000 | |
Loans held for sale | 0 | 0 | ||
Marketable Equity Securities | 0 | 0 | ||
Residential mortgage servicing rights | 410,000,000 | 296,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | [2] | 20,000,000 | 44,000,000 | |
Other Assets, Fair Value Disclosure | 0 | 0 | ||
Derivative Liabilities, Fair Value, Gross Liability | [2] | 3,000,000 | 6,000,000 | |
Level 3 [Member] | Nonrecurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held for sale | [1],[2] | 9,000,000 | 4,000,000 | |
Security Owned Not Readily Marketable, Fair Value | [1],[2] | 25,000,000 | 12,000,000 | |
Foreclosed property and other real estate | [1],[2] | 10,000,000 | 5,000,000 | |
Interest Rate Swaps [Member] | Recurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 1,171,000,000 | 2,750,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 973,000,000 | 1,464,000,000 | ||
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 Asset, Fair Value, Gross Asset | 0 | 0 | ||
Derivative Liabilities, Fair Value, Gross Liability | 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 Asset, Fair Value, Gross Asset | [3] | 1,171,000,000 | 2,750,000,000 | |
Derivative Liabilities, Fair Value, Gross Liability | [3] | 973,000,000 | 1,464,000,000 | |
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 Asset, Fair Value, Gross Asset | 0 | 0 | ||
Derivative Liabilities, Fair Value, Gross Liability | 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 Asset, Fair Value, Gross Asset | 232,000,000 | 520,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 20,000,000 | 28,000,000 | ||
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 Asset, Fair Value, Gross Asset | 0 | 0 | ||
Derivative Liabilities, Fair Value, Gross Liability | 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 Asset, Fair Value, Gross Asset | 212,000,000 | 477,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 20,000,000 | 28,000,000 | ||
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 Asset, Fair Value, Gross Asset | [2] | 20,000,000 | 43,000,000 | |
Derivative Liabilities, Fair Value, Gross Liability | 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 Asset, Fair Value, Gross Asset | 13,000,000 | 11,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 5,000,000 | 26,000,000 | ||
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 Asset, Fair Value, Gross Asset | 0 | 0 | ||
Derivative Liabilities, Fair Value, Gross Liability | 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 Asset, Fair Value, Gross Asset | 13,000,000 | 11,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 5,000,000 | 26,000,000 | ||
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 Asset, Fair Value, Gross Asset | 0 | 0 | [2] | |
Derivative Liabilities, Fair Value, Gross Liability | 0 | 0 | ||
Other Contract [Member] | Recurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 216,000,000 | 68,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 217,000,000 | 80,000,000 | ||
Other Contract [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | 2,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 0 | 2,000,000 | ||
Other Contract [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 216,000,000 | 65,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | 214,000,000 | 72,000,000 | ||
Other Contract [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | 1,000,000 | [2] | |
Derivative Liabilities, Fair Value, Gross Liability | [2] | 3,000,000 | 6,000,000 | |
US Treasury Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | 784,000,000 | 183,000,000 | ||
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 | 784,000,000 | 183,000,000 | ||
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 | 784,000,000 | 183,000,000 | ||
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] | Recurring Fair Value Measurements [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | 97,000,000 | 105,000,000 | ||
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 | 97,000,000 | 105,000,000 | ||
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 | ||
Residential Agency [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | 19,685,000,000 | 19,076,000,000 | ||
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 | 19,685,000,000 | 19,076,000,000 | ||
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 | 19,685,000,000 | 19,076,000,000 | ||
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 | 1,000,000 | 1,000,000 | ||
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 | 1,000,000 | 1,000,000 | ||
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 | [2] | 1,000,000 | 1,000,000 | |
Commercial Agency [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale | 6,385,000,000 | 5,999,000,000 | ||
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 | 6,385,000,000 | 5,999,000,000 | ||
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 | 6,385,000,000 | 5,999,000,000 | ||
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 | 564,000,000 | 586,000,000 | ||
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 | 564,000,000 | 586,000,000 | ||
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 | 564,000,000 | 586,000,000 | ||
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 | 1,470,000,000 | 1,204,000,000 | ||
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 | 1,470,000,000 | 1,204,000,000 | ||
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 | 1,469,000,000 | 1,200,000,000 | ||
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 | [2] | $ 1,000,000 | $ 4,000,000 | |
[1] | From time to time, certain assets may be recorded at fair value on a non-recurring basis, and the related fair value adjustments disclosed are typically a result of the application of lower of cost or fair value accounting or a write-down occurring during the periods indicated. | |||
[2] | All following disclosures related to Level 3 recurring and non-recurring assets do not include those deemed to be immaterial. | |||
[3] | 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. (3) From time to time, certain assets may be recorded at fair value on a non-recurring basis, and the related fair value adjustments disclosed are typically a result of the application of lower of cost or fair value accounting or a write-down occurring during the periods indicated. |
Fair Value Measurements (Rollfo
Fair Value Measurements (Rollforward For Assets And Liabilities Measured At Fair Value On A Recurring Basis With Level 3 Significant Unobservable Inputs) (Details) - Residential Mortgage Servicing Rights [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Opening balance | $ 392 | $ 249 | $ 296 | $ 345 | |
Gain (Loss) Included in Earnings | [1] | (21) | (14) | (2) | (145) |
Purchases | 39 | 32 | 116 | 67 | |
Closing balance | $ 410 | $ 267 | $ 410 | $ 267 | |
[1] | Included in mortgage income. Amounts presented exclude offsetting impact from related derivatives. |
Fair Value Measurements (Sche_2
Fair Value Measurements (Schedule Of Fair Value Adjustments Related To Non-Recurring Fair Value Measurements) (Details) - Nonrecurring Fair Value Measurements [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Loans Held For Sale [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, Fair Value Adjustment | $ (1) | $ (1) | $ (1) | $ (6) |
Equity Investments Without a Readily Determinable Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, Fair Value Adjustment | 13 | 0 | 14 | (3) |
Foreclosed Property And Other Real Estate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, Fair Value Adjustment | $ (4) | $ (3) | $ (4) | $ (13) |
Fair Value Measurements (Summar
Fair Value Measurements (Summary Of Quantitative Information About Level 3 Fair Value Measurements) (Details) - Mortgage Servicing Rights [Member] - Discounted Cash Flow [Member] $ in Millions | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | ||
Level 3 [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure | $ 410 | [1] | $ 296 | [2] |
Recurring Fair Value Measurements [Member] | Minimum [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Weighted Average CPR | 0.069 | 0.081 | ||
Option-Adjusted Spread | 4.20% | 4.80% | ||
Recurring Fair Value Measurements [Member] | Maximum [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Weighted Average CPR | 0.213 | 0.312 | ||
Option-Adjusted Spread | 9.60% | 9.50% | ||
Recurring Fair Value Measurements [Member] | Weighted Average [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Weighted Average CPR | 0.103 | 0.156 | ||
Option-Adjusted Spread | 5.30% | 5.60% | ||
[1] | See Note 4 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. | |||
[2] | See Note 7 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2020 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. |
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 | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||
Mortgages Held-for-sale, Fair Value Disclosure | $ 848 | $ 848 | $ 1,439 | ||
Fair Value Option Mortgages Held For Sale Aggregate Unpaid Principal | 822 | 822 | 1,362 | ||
Aggregate Fair Value Less Aggregate Unpaid Principal | 26 | 26 | $ 77 | ||
Net gains (losses) resulting from changes in fair value | $ (10) | $ 7 | $ (50) | $ 37 |
Fair Value Measurements (Sche_3
Fair Value Measurements (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | |||
Financial Assets [Abstract] | |||||
Debt securities held to maturity | $ 1,010,000,000 | $ 1,215,000,000 | |||
Debt securities available for sale | 28,986,000,000 | 27,154,000,000 | |||
Loans held for sale | 857,000,000 | 1,446,000,000 | |||
Other earning assets | 1,269,000,000 | 1,217,000,000 | |||
Derivative Asset, Fair Value, Gross Asset | 1,632,000,000 | 3,349,000,000 | |||
Financial Liabilities [Abstract] | |||||
Derivative Liabilities, Fair Value, Gross Liability | 1,215,000,000 | 1,598,000,000 | |||
Capital leases, carrying amount excluded | 1,400,000,000 | 1,500,000,000 | |||
Operating leases, carrying amount excluded | 120,000,000 | 200,000,000 | |||
Fair Value Premium on Loan Portfolio, Amount | $ 397,000,000 | $ 1,200,000,000 | |||
Fair Value Premium on Loan Portfolio, Rate | 0.50% | 1.40% | |||
Recurring Fair Value Measurements [Member] | |||||
Financial Assets [Abstract] | |||||
Debt securities available for sale | $ 28,986,000,000 | $ 27,154,000,000 | |||
Loans held for sale | 857,000,000 | 1,446,000,000 | |||
Derivative Asset, Fair Value, Gross Asset | 1,632,000,000 | 3,349,000,000 | |||
Other Assets, Fair Value Disclosure | 0 | 74,000,000 | |||
Financial Liabilities [Abstract] | |||||
Derivative Liabilities, Fair Value, Gross Liability | 1,215,000,000 | 1,598,000,000 | |||
Estimate of Fair Value [Member] | |||||
Financial Assets [Abstract] | |||||
Cash and cash equivalents | [1] | 27,507,000,000 | 17,956,000,000 | ||
Debt securities held to maturity | [1] | 1,010,000,000 | 1,215,000,000 | ||
Debt securities available for sale | [1] | 28,986,000,000 | 27,154,000,000 | ||
Loans held for sale | [1] | 934,000,000 | 1,905,000,000 | ||
Loans (excluding leases), net of unearned income and allowance for loan losses | [1],[2],[3] | 80,800,000,000 | 82,773,000,000 | ||
Other earning assets | 1,149,000,000 | [1],[4] | 1,017,000,000 | [5],[6] | |
Derivative Asset, Fair Value, Gross Asset | [1] | 1,632,000,000 | 3,349,000,000 | ||
Other Assets, Fair Value Disclosure | 74,000,000 | ||||
Financial Liabilities [Abstract] | |||||
Deposits | [1] | 132,046,000,000 | 122,511,000,000 | ||
Long-term borrowings | [1] | 2,917,000,000 | 4,063,000,000 | ||
Loan commitments and letters of credit | [1] | 102,000,000 | 151,000,000 | ||
Derivative Liabilities, Fair Value, Gross Liability | [1] | 1,215,000,000 | 1,598,000,000 | ||
Carrying Amount [Member] | |||||
Financial Assets [Abstract] | |||||
Cash and cash equivalents | 27,507,000,000 | 17,956,000,000 | |||
Debt securities held to maturity | 945,000,000 | 1,122,000,000 | |||
Debt securities available for sale | 28,986,000,000 | 27,154,000,000 | |||
Loans held for sale | 934,000,000 | 1,905,000,000 | |||
Loans (excluding leases), net of unearned income and allowance for loan losses | 80,403,000,000 | [2],[3] | 81,597,000,000 | [7],[8] | |
Other earning assets | 1,149,000,000 | [4] | 1,017,000,000 | [6] | |
Derivative Asset, Fair Value, Gross Asset | 1,632,000,000 | 3,349,000,000 | |||
Other Assets, Fair Value Disclosure | 74,000,000 | ||||
Financial Liabilities [Abstract] | |||||
Deposits | 132,039,000,000 | 122,479,000,000 | |||
Long-term borrowings | 2,451,000,000 | 3,569,000,000 | |||
Loan commitments and letters of credit | 102,000,000 | 151,000,000 | |||
Derivative Liabilities, Fair Value, Gross Liability | 1,215,000,000 | 1,598,000,000 | |||
Level 1 [Member] | |||||
Financial Assets [Abstract] | |||||
Cash and cash equivalents | 27,507,000,000 | 17,956,000,000 | |||
Debt securities held to maturity | 0 | 0 | |||
Debt securities available for sale | 784,000,000 | 183,000,000 | |||
Loans held for sale | 0 | 0 | |||
Loans (excluding leases), net of unearned income and allowance for loan losses | 0 | [2],[3] | 0 | [7],[8] | |
Other earning assets | 507,000,000 | [4] | 388,000,000 | [6] | |
Derivative Asset, Fair Value, Gross Asset | 0 | 2,000,000 | |||
Other Assets, Fair Value Disclosure | 0 | ||||
Financial Liabilities [Abstract] | |||||
Deposits | 0 | 0 | |||
Long-term borrowings | 0 | 0 | |||
Loan commitments and letters of credit | 0 | 0 | |||
Derivative Liabilities, Fair Value, Gross Liability | 0 | 2,000,000 | |||
Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||
Financial Assets [Abstract] | |||||
Debt securities available for sale | 784,000,000 | 183,000,000 | |||
Loans held for sale | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 2,000,000 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Financial Liabilities [Abstract] | |||||
Derivative Liabilities, Fair Value, Gross Liability | 0 | 2,000,000 | |||
Level 2 [Member] | |||||
Financial Assets [Abstract] | |||||
Cash and cash equivalents | 0 | 0 | |||
Debt securities held to maturity | 1,010,000,000 | 1,215,000,000 | |||
Debt securities available for sale | 28,200,000,000 | 26,966,000,000 | |||
Loans held for sale | 925,000,000 | 1,901,000,000 | |||
Loans (excluding leases), net of unearned income and allowance for loan losses | 0 | [2],[3] | 0 | [7],[8] | |
Other earning assets | 642,000,000 | [4] | 629,000,000 | [6] | |
Derivative Asset, Fair Value, Gross Asset | 1,612,000,000 | 3,303,000,000 | |||
Financial Liabilities [Abstract] | |||||
Deposits | 132,046,000,000 | 122,511,000,000 | |||
Long-term borrowings | 2,886,000,000 | 3,592,000,000 | |||
Loan commitments and letters of credit | 0 | 0 | |||
Derivative Liabilities, Fair Value, Gross Liability | 1,212,000,000 | 1,590,000,000 | |||
Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||
Financial Assets [Abstract] | |||||
Debt securities available for sale | 28,200,000,000 | 26,966,000,000 | |||
Loans held for sale | 857,000,000 | 1,446,000,000 | |||
Derivative Asset, Fair Value, Gross Asset | 1,612,000,000 | 3,303,000,000 | |||
Other Assets, Fair Value Disclosure | 0 | 74,000,000 | |||
Financial Liabilities [Abstract] | |||||
Derivative Liabilities, Fair Value, Gross Liability | 1,212,000,000 | 1,590,000,000 | |||
Level 3 [Member] | |||||
Financial Assets [Abstract] | |||||
Cash and cash equivalents | 0 | 0 | |||
Debt securities held to maturity | 0 | 0 | |||
Debt securities available for sale | 2,000,000 | 5,000,000 | |||
Loans held for sale | 9,000,000 | 4,000,000 | |||
Loans (excluding leases), net of unearned income and allowance for loan losses | 80,800,000,000 | [2],[3] | 82,773,000,000 | [7],[8] | |
Other earning assets | 0 | [4] | 0 | [6] | |
Derivative Asset, Fair Value, Gross Asset | 20,000,000 | 44,000,000 | |||
Other Assets, Fair Value Disclosure | 0 | ||||
Financial Liabilities [Abstract] | |||||
Deposits | 0 | 0 | |||
Long-term borrowings | 31,000,000 | 471,000,000 | |||
Loan commitments and letters of credit | 102,000,000 | 151,000,000 | |||
Derivative Liabilities, Fair Value, Gross Liability | 3,000,000 | 6,000,000 | |||
Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||
Financial Assets [Abstract] | |||||
Debt securities available for sale | [9] | 2,000,000 | 5,000,000 | ||
Loans held for sale | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | [9] | 20,000,000 | 44,000,000 | ||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Financial Liabilities [Abstract] | |||||
Derivative Liabilities, Fair Value, Gross Liability | [9] | $ 3,000,000 | $ 6,000,000 | ||
[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] | Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.4 billion at September 30, 2021. | ||||
[3] | 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 premium on the loan portfolio's net carrying amount at September 30, 2021 was $397 million or 0.5 percent. | ||||
[4] | Excluded from this table is the operating lease carrying amount of $120 million at September 30, 2021 | ||||
[5] | 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. | ||||
[6] | Excluded from this table is the operating lease carrying amount of $200 million at December 31, 2020. | ||||
[7] | Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.5 billion at December 31, 2020. | ||||
[8] | 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 premium on the loan portfolio's net carrying amount at December 31, 2020 was $1.2 billion or 1.4 percent. | ||||
[9] | All following disclosures related to Level 3 recurring and non-recurring assets do not include those deemed to be immaterial. |
Business Segment Information (S
Business Segment Information (Schedule Of Financial Information By Reportable Segment) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)segment | Sep. 30, 2020USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of reportable segments | segment | 3 | |||
Provision (Credit) for Credit Losses | $ (155) | $ 113 | $ (634) | $ 1,368 |
Total non-interest income | 649 | 655 | 1,909 | 1,713 |
Non-interest expense | 938 | 896 | 2,764 | 2,656 |
Income tax expense | 180 | 104 | 591 | 99 |
Corporate Bank [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 444 | 445 | 1,321 | 1,227 |
Provision (Credit) for Credit Losses | 75 | 83 | 230 | 210 |
Total non-interest income | 208 | 159 | 564 | 444 |
Non-interest expense | 274 | 248 | 802 | 741 |
Income before income taxes | 303 | 273 | 853 | 720 |
Income tax expense | 76 | 68 | 213 | 180 |
Net income | 227 | 205 | 640 | 540 |
Average assets | 58,644 | 63,464 | 59,315 | 61,374 |
Consumer Bank [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 486 | 510 | 1,471 | 1,557 |
Provision (Credit) for Credit Losses | 58 | 71 | 183 | 234 |
Total non-interest income | 307 | 343 | 952 | 944 |
Non-interest expense | 531 | 521 | 1,596 | 1,529 |
Income before income taxes | 204 | 261 | 644 | 738 |
Income tax expense | 51 | 65 | 161 | 185 |
Net income | 153 | 196 | 483 | 553 |
Average assets | 33,003 | 34,570 | 33,498 | 34,531 |
Wealth Management [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 35 | 33 | 103 | 104 |
Provision (Credit) for Credit Losses | 2 | 3 | 8 | 9 |
Total non-interest income | 96 | 87 | 288 | 254 |
Non-interest expense | 98 | 85 | 283 | 257 |
Income before income taxes | 31 | 32 | 100 | 92 |
Income tax expense | 8 | 8 | 25 | 23 |
Net income | 23 | 24 | 75 | 69 |
Average assets | 2,030 | 2,014 | 2,037 | 2,028 |
Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 0 | 0 | 0 | 0 |
Provision (Credit) for Credit Losses | (290) | (44) | (1,055) | 915 |
Total non-interest income | 38 | 66 | 105 | 71 |
Non-interest expense | 35 | 42 | 83 | 129 |
Income before income taxes | 293 | 68 | 1,077 | (973) |
Income tax expense | 45 | (37) | 192 | (289) |
Net income | 248 | 105 | 885 | (684) |
Average assets | 61,953 | 42,797 | 57,470 | 37,905 |
Consolidated [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income and other financing income (loss) | 965 | 988 | 2,895 | 2,888 |
Provision (Credit) for Credit Losses | (155) | 113 | (634) | 1,368 |
Total non-interest income | 649 | 655 | 1,909 | 1,713 |
Non-interest expense | 938 | 896 | 2,764 | 2,656 |
Income before income taxes | 831 | 634 | 2,674 | 577 |
Income tax expense | 180 | 104 | 591 | 99 |
Net income | 651 | 530 | 2,083 | 478 |
Average assets | $ 155,630 | $ 142,845 | $ 152,320 | $ 135,838 |
Commitments, Contingencies an_3
Commitments, Contingencies and Guarantees (Credit Risk Of Off-Balance Sheet Financial Instruments By Contractual Amounts) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Other Commitments [Line Items] | ||||||
Unused commitments to extend credit | $ 60,653 | $ 56,644 | ||||
Standby Letters Of Credit Commitment | 1,783 | 1,742 | ||||
Commercial letters of credit | 52 | 132 | ||||
Liabilities associated with standby letters of credit | 31 | 25 | ||||
Assets associated with standby letters of credit | 32 | 25 | ||||
Reserve for unfunded credit commitments | $ 71 | $ 87 | $ 126 | $ 149 | $ 149 | $ 45 |
Commitments, Contingencies an_4
Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Commitments and Contingencies Disclosure [Abstract] | ||
Loss Contingency, Range of Possible Loss, Portion Not Accrued | $ 20 | |
Long-term Purchase Commitment [Line Items] | ||
Fannie Mae DUS Servicing Portfolio, Amount | 4,800 | $ 4,500 |
Maximum Quantifiable Fannie Mae DUS Loss Share Guarantee | 1,600 | 1,500 |
Estimated Fair Value of the Fannie Mae DUS Loss Share Guarantee | $ 5 | $ 5 |