XML 49 R38.htm IDEA: XBRL DOCUMENT
v3.26.1

Fair Value Disclosures (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present fair value information for assets and liabilities measured at fair value on a recurring basis:
June 30, 2026 (Dollars in millions) |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Netting Adjustments(1)
Assets: |  |  |  |  |  |  |  |  |  |
Trading assets: |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 119 |  |  | $ | — |  |  | $ | 119 |  |  | $ | — |  |  | $ | — |
GSE |  | 37 |  |  | — |  |  | 37 |  |  | — |  |  | — |
States and political subdivisions |  | 265 |  |  | — |  |  | 265 |  |  | — |  |  | — |
Corporate and other debt securities |  | 1,792 |  |  | — |  |  | 1,792 |  |  | — |  |  | — |
Loans |  | 1,931 |  |  | — |  |  | 1,931 |  |  | — |  |  | — |
Equity securities |  | 1,144 |  |  | 1,144 |  |  | — |  |  | — |  |  | — |
Total trading assets |  | 5,288 |  |  | 1,144 |  |  | 4,144 |  |  | — |  |  | — |
AFS securities: |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | 13,313 |  |  | — |  |  | 13,313 |  |  | — |  |  | — |
GSE |  | 436 |  |  | — |  |  | 436 |  |  | — |  |  | — |
Agency MBS – residential |  | 49,152 |  |  | — |  |  | 49,152 |  |  | — |  |  | — |
Agency MBS – commercial |  | 3,126 |  |  | — |  |  | 3,126 |  |  | — |  |  | — |
States and political subdivisions |  | 341 |  |  | — |  |  | 341 |  |  | — |  |  | — |
Collateralized loan obligations |  | 1,279 |  |  | — |  |  | 1,279 |  |  | — |  |  | — |
Other |  | 4 |  |  | — |  |  | 4 |  |  | — |  |  | — |
Total AFS securities |  | 67,651 |  |  | — |  |  | 67,651 |  |  | — |  |  | — |
LHFS |  | 2,198 |  |  | — |  |  | 2,198 |  |  | — |  |  | — |
Loans and leases |  | 10 |  |  | — |  |  | — |  |  | 10 |  |  | — |
Loan servicing rights at fair value |  | 4,293 |  |  | — |  |  | — |  |  | 4,293 |  |  | — |
Other assets: |  |  |  |  |  |  |  |  |  |
Derivative assets |  | 1,455 |  |  | 1,579 |  |  | 2,060 |  |  | 5 |  |  | (2,189) |
Equity securities |  | 378 |  |  | 301 |  |  | 77 |  |  | — |  |  | — |
Other |  | 8 |  |  | — |  |  | 8 |  |  | — |  |  | — |
Total assets |  | $ | 81,281 |  |  | $ | 3,024 |  |  | $ | 76,138 |  |  | $ | 4,308 |  |  | $ | (2,189) |
Liabilities: |  |  |  |  |  |  |  |  |  |
Interest-bearing deposits: |  |  |  |  |  |  |  |  |  |
Brokered time deposits |  | $ | 688 |  |  | $ | — |  |  | $ | 688 |  |  | $ | — |  |  | $ | — |
Short-term borrowings: |  |  |  |  |  |  |  |  |  |
Securities sold short |  | 2,979 |  |  | 1,502 |  |  | 1,477 |  |  | — |  |  | — |
Other trading liabilities |  | 142 |  |  | — |  |  | 142 |  |  | — |  |  | — |
Other liabilities: |  |  |  |  |  |  |  |  |  |
Derivative Liabilities |  | 2,228 |  |  | 836 |  |  | 4,472 |  |  | 23 |  |  | (3,103) |
Total liabilities |  | $ | 6,037 |  |  | $ | 2,338 |  |  | $ | 6,779 |  |  | $ | 23 |  |  | $ | (3,103) |
December 31, 2025 (Dollars in millions) |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Netting Adjustments(1)
Assets: |  |  |  |  |  |  |  |  |  |
Trading assets: |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 244 |  |  | $ | — |  |  | $ | 244 |  |  | $ | — |  |  | $ | — |
GSE |  | 42 |  |  | — |  |  | 42 |  |  | — |  |  | — |
States and political subdivisions |  | 301 |  |  | — |  |  | 301 |  |  | — |  |  | — |
Corporate and other debt securities |  | 1,970 |  |  | — |  |  | 1,970 |  |  | — |  |  | — |
Loans |  | 2,168 |  |  | — |  |  | 2,168 |  |  | — |  |  | — |
Equity securities |  | 1,065 |  |  | 1,065 |  |  | — |  |  | — |  |  | — |
Total trading assets |  | 5,790 |  |  | 1,065 |  |  | 4,725 |  |  | — |  |  | — |
AFS securities: |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | 12,792 |  |  | — |  |  | 12,792 |  |  | — |  |  | — |
GSE |  | 460 |  |  | — |  |  | 460 |  |  | — |  |  | — |
Agency MBS – residential |  | 48,226 |  |  | — |  |  | 48,226 |  |  | — |  |  | — |
Agency MBS – commercial |  | 3,200 |  |  | — |  |  | 3,200 |  |  | — |  |  | — |
States and political subdivisions |  | 350 |  |  | — |  |  | 350 |  |  | — |  |  | — |
Other |  | 14 |  |  | — |  |  | 14 |  |  | — |  |  | — |
Total AFS securities |  | 65,042 |  |  | — |  |  | 65,042 |  |  | — |  |  | — |
LHFS |  | 1,622 |  |  | — |  |  | 1,622 |  |  | — |  |  | — |
Loans and leases |  | 11 |  |  | — |  |  | — |  |  | 11 |  |  | — |
Loan servicing rights at fair value |  | 3,972 |  |  | — |  |  | — |  |  | 3,972 |  |  | — |
Other assets: |  |  |  |  |  |  |  |  |  |
Derivative assets |  | 1,343 |  |  | 1,157 |  |  | 1,961 |  |  | 4 |  |  | (1,779) |
Equity securities |  | 382 |  |  | 293 |  |  | 89 |  |  | — |  |  | — |
Total assets |  | $ | 78,162 |  |  | $ | 2,515 |  |  | $ | 73,439 |  |  | $ | 3,987 |  |  | $ | (1,779) |
Liabilities: |  |  |  |  |  |  |  |  |  |
Interest-bearing deposits: |  |  |  |  |  |  |  |  |  |
Brokered time deposits |  | $ | 639 |  |  | $ | — |  |  | $ | 639 |  |  | $ | — |  |  | $ | — |
Short-term borrowings: |  |  |  |  |  |  |  |  |  |
Securities sold short |  | 2,185 |  |  | 652 |  |  | 1,533 |  |  | — |  |  | — |
Other trading liabilities |  | 209 |  |  | — |  |  | 209 |  |  | — |  |  | — |
Other liabilities: |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | 1,797 |  |  | 623 |  |  | 3,959 |  |  | 33 |  |  | (2,818) |
Total liabilities |  | $ | 4,830 |  |  | $ | 1,275 |  |  | $ | 6,340 |  |  | $ | 33 |  |  | $ | (2,818) |
(1)Refer to “Note 14. Derivative Financial Instruments” for additional discussion on netting adjustments.
Rollforward of Level 3 Assets and Liabilities | Activity for Level 3 assets and liabilities is summarized below:
(Dollars in millions) |  | Loans and Leases |  | Loan Servicing Rights |  | Net Derivatives
Balance at April 1, 2025 |  | $ | 12 |  |  | $ | 3,628 |  |  | $ | (33) |
Total realized and unrealized gains (losses): |  |  |  |  |  |
Included in earnings |  | — |  |  | 27 |  |  | 2 |
Issuances |  | — |  |  | 54 |  |  | 13 |
Settlements |  | — |  |  | (97) |  |  | (2) |
Balance at June 30, 2025 |  | 12 |  |  | 3,612 |  |  | (20) |
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2025 |  | $ | — |  |  | $ | 27 |  |  | $ | 4 |
Balance at April 1, 2026 |  | $ | 10 |  |  | $ | 4,112 |  |  | $ | (35) |
Total realized and unrealized gains (losses): |  |  |  |  |  |
Included in earnings |  | — |  |  | 35 |  |  | 2 |
Purchases |  | — |  |  | 144 |  |  | — |
Issuances |  | — |  |  | 116 |  |  | — |
Settlements |  | — |  |  | (114) |  |  | 15 |
Balance at June 30, 2026 |  | 10 |  |  | 4,293 |  |  | (18) |
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2026 |  | $ | — |  |  | $ | 35 |  |  | $ | 11 |
(Dollars in millions) |  | Loans and Leases |  | Loan Servicing Rights |  | Net Derivatives
Balance at January 1, 2025 |  | $ | 13 |  |  | $ | 3,708 |  |  | $ | (41) |
Total realized and unrealized gains (losses): |  |  |  |  |  |
Included in earnings |  | — |  |  | (29) |  |  | 8 |
Issuances |  | — |  |  | 111 |  |  | 17 |
Settlements |  | (1) |  |  | (178) |  |  | (4) |
Balance at June 30, 2025 |  | $ | 12 |  |  | $ | 3,612 |  |  | $ | (20) |
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2025 |  | $ | — |  |  | $ | (29) |  |  | $ | 1 |
Balance at January 1, 2026 |  | $ | 11 |  |  | $ | 3,972 |  |  | $ | (29) |
Total realized and unrealized gains (losses): |  |  |  |  |  |
Included in earnings |  | — |  |  | 51 |  |  | 3 |
Purchases |  | — |  |  | 275 |  |  | — |
Issuances |  | — |  |  | 209 |  |  | (17) |
Settlements |  | (1) |  |  | (214) |  |  | 25 |
Balance at June 30, 2026 |  | $ | 10 |  |  | $ | 4,293 |  |  | $ | (18) |
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2026 |  | $ | — |  |  | $ | 51 |  |  | $ | — |
Primary income statement location of realized gains (losses) included in earnings |  | Other income |  | Mortgage banking income |  | Mortgage banking income and other income
Fair Value and UPB of LHFS | The following table details the fair value and UPB of certain loans and time deposits that were elected to be measured at fair value:
|  | June 30, 2026 |  | December 31, 2025
(Dollars in millions) |  | Fair Value |  | UPB |  | Difference |  | Fair Value |  | UPB |  | Difference
Trading loans |  | $ | 1,931 |  |  | $ | 1,995 |  |  | $ | (64) |  |  | $ | 2,168 |  |  | $ | 2,230 |  |  | $ | (62) |
LHFS |  | 2,198 |  |  | 2,173 |  |  | 25 |  |  | 1,622 |  |  | 1,592 |  |  | 30 |
Loans and leases |  | 10 |  |  | 11 |  |  | (1) |  |  | 11 |  |  | 12 |  |  | (1) |
Brokered time deposits |  | 688 |  |  | 697 |  |  | (9) |  |  | 639 |  |  | 642 |  |  | (3) |
Assets Measured at Fair Value on a Nonrecurring Basis | The following table provides information about certain assets measured at fair value on a nonrecurring basis held as of period end with valuation adjustments recorded during the period. The carrying values represent end of period values, which approximate the fair value.
(Dollars in millions) | Fair Value Hierarchy |  | Jun 30, 2026 |  | Dec 31, 2025
Carrying value: |  |  |  |  |
LHFS | Level 3 |  | $ | 204 |  |  | $ | 4 |
Loans and leases(1) | Level 3 |  | 297 |  |  | 468 |
Other | Level 3 |  | 46 |  |  | 65 |
(1)Total loans and leases measured at fair value on a nonrecurring basis still held as of period end were $516 million and $599 million at June 30, 2026 and December 31, 2025, respectively. The following table provides information about valuation adjustments for certain assets measured at fair value on a nonrecurring basis. The valuation adjustments represent the amounts recorded during the period regardless of whether the asset is still held at period end.
| Six Months Ended June 30, |  |
(Dollars in millions) | 2026 |  | 2025 |  |
Valuation adjustments: |  |  |  |  |
LHFS | $ | (58) |  |  | $ | (68) |  |  |
Loans and leases | (444) |  |  | (420) |  |  |
Other | (113) |  |  | (148) |  |  |
Carrying Amounts and Fair Value of Financial Assets and Liabilities Not Recorded at Fair Value | Financial assets and liabilities not recorded at fair value are summarized below:
|  | June 30, 2026 |  | December 31, 2025
(Dollars in millions) | Fair Value Hierarchy |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Financial assets: |  |  |  |  |  |  |  |  |
HTM securities | Level 2 |  | $ | 46,351 |  |  | $ | 38,145 |  |  | $ | 47,186 |  |  | $ | 39,130 |
Loans and leases, net of ALLL | Level 3 |  | 324,803 |  |  | 320,888 |  |  | 323,554 |  |  | 320,018 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Time deposits | Level 2 |  | 40,241 |  |  | 40,064 |  |  | 37,793 |  |  | 37,723 |
Long-term debt | Level 2 |  | 42,976 |  |  | 43,400 |  |  | 41,963 |  |  | 42,451 |

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about asset and liability measured at fair value under fair value option. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-32 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-30 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28 + Details
Name: | us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration