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Fair value measurements (Tables) | 6 Months Ended
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Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis | The following tables present assets and liabilities at June 30, 2026 and December 31, 2025 measured at fair value on a recurring basis.
(Dollars in millions) | Fair Value Measurements |  | Level 1 |  | Level 2 |  | Level 3
June 30, 2026 |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |
U.S. Treasury | $ | 3,227 |  |  | $ | — |  |  | $ | 3,227 |  |  | $ | — |
Mortgage-backed securities: |  |  |  |  |  |  |
Government issued or guaranteed: |  |  |  |  |  |  |
Commercial | 4,755 |  |  | — |  |  | 4,755 |  |  | — |
Residential | 17,387 |  |  | — |  |  | 17,387 |  |  | — |
Other | 1 |  |  | — |  |  | 1 |  |  | — |
Total investment securities available for sale | 25,370 |  |  | — |  |  | 25,370 |  |  | — |
Equity securities | 245 |  |  | 245 |  |  | — |  |  | — |
Real estate loans held for sale | 515 |  |  | — |  |  | 515 |  |  | — |
Residential mortgage loan servicing rights | 540 |  |  | — |  |  | — |  |  | 540 |
Other assets | 332 |  |  | 13 |  |  | 315 |  |  | 4 |
Total assets | $ | 27,002 |  |  | $ | 258 |  |  | $ | 26,200 |  |  | $ | 544 |
Other liabilities | $ | 503 |  |  | $ | — |  |  | $ | 503 |  |  | $ | — |
Total liabilities | $ | 503 |  |  | $ | — |  |  | $ | 503 |  |  | $ | — |
December 31, 2025 |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |
U.S. Treasury | $ | 6,343 |  |  | $ | — |  |  | $ | 6,343 |  |  | $ | — |
Mortgage-backed securities: |  |  |  |  |  |  |
Government issued or guaranteed: |  |  |  |  |  |  |
Commercial | 4,816 |  |  | — |  |  | 4,816 |  |  | — |
Residential | 12,042 |  |  | — |  |  | 12,042 |  |  | — |
Other | 1 |  |  | — |  |  | 1 |  |  | — |
Total investment securities available for sale | 23,202 |  |  | — |  |  | 23,202 |  |  | — |
Equity securities | 281 |  |  | 281 |  |  | — |  |  | — |
Real estate loans held for sale | 925 |  |  | — |  |  | 925 |  |  | — |
Other assets | 342 |  |  | 12 |  |  | 327 |  |  | 3 |
Total assets | $ | 24,750 |  |  | $ | 293 |  |  | $ | 24,454 |  |  | $ | 3 |
Other liabilities | $ | 454 |  |  | $ | — |  |  | $ | 454 |  |  | $ | — |
Total liabilities | $ | 454 |  |  | $ | — |  |  | $ | 454 |  |  | $ | — |
Schedule of Servicing Assets at Fair Value | The changes in fair value of residential mortgage loans servicing right assets for the three-month and six-month periods ended June 30, 2026 are presented in the following table.
(Dollars in millions) |  | Residential Mortgage Loan Servicing Rights (Level 3)
Three Months Ended June 30, 2026 |  |
Balance at March 31, 2026 — at fair value |  | $ | 542 |
Additions |  | 7 |
Changes in fair value included in Mortgage banking revenues (a) |  | (9) |
Balance at June 30, 2026 — at fair value |  | $ | 540 |
Six Months Ended June 30, 2026 |  |
Balance at December 31, 2025 — at amortized cost |  | $ | 287 |
January 1, 2026 - fair value accounting election |  | 263 |
Additions |  | 15 |
Changes in fair value included in Mortgage banking revenues (a) |  | (25) |
Balance at June 30, 2026 — at fair value |  | $ | 540 |
__________________________________________________________________________________ (a)Includes a $16 million and a $33 million reduction in fair value attributable to the realization of expected net servicing cash flows over time for the three-month and six-month periods ended June 30, 2026, respectively.
Fair Value Measurement Inputs and Valuation Techniques | The key economic assumptions used to determine the fair value of residential capitalized servicing rights at June 30, 2026 and the sensitivity of such value to changes in those assumptions are summarized in the table that follows. Those calculated sensitivities are hypothetical and actual changes in the fair value of capitalized servicing rights may differ significantly from the amounts presented herein. The effect of a variation in a particular assumption on the fair value of the servicing rights is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another which may magnify or counteract the sensitivities. The changes in assumptions are presumed to be instantaneous.
(Dollars in millions) |
Weighted-average prepayment speeds (range 5% - 18%) | 8.00 | %
Impact on fair value of 10% adverse change | $ | (15) |
Impact on fair value of 20% adverse change | (30) |
Weighted-average OAS (range 5% - 20%) | 7.20 | %
Impact on fair value of 10% adverse change | $ | (15) |
Impact on fair value of 20% adverse change | (29) |
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis | The following table summarizes loans subject to such nonrecurring fair value measurements at June 30, 2026 and 2025.
| June 30, |  |  |  |
(Dollars in millions) | 2026 |  | 2025 |  |  |  |
Level 2 | $ | 100 |  |  | $ | 166 |  |  |  |  |
Level 3 | 272 |  |  | 478 |  |  |  |  |
| $ | 372 |  |  | $ | 644 |  |  |  |  |
Changes in fair value recognized for the three months ended | $ | (51) |  |  | $ | (115) |  |  |  |  |
Changes in fair value recognized for the six months ended | (77) |  |  | (157) |  |  |  |  |
Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities) | The carrying amounts and estimated fair value for certain financial instruments that are not recorded at fair value in the Company's Consolidated Balance Sheet are presented in the following table.
(Dollars in millions) | Carrying Amount |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
June 30, 2026 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 1,939 |  |  | $ | 1,939 |  |  | $ | 1,746 |  |  | $ | 193 |  |  | $ | — |
Interest-bearing deposits at banks | 15,499 |  |  | 15,499 |  |  | — |  |  | 15,499 |  |  | — |
Investment securities held to maturity | 11,908 |  |  | 11,123 |  |  | — |  |  | 11,084 |  |  | 39 |
Loans, net | 141,017 |  |  | 140,793 |  |  | — |  |  | 4,316 |  |  | 136,477 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Time deposits (a) | 14,988 |  |  | 14,946 |  |  | — |  |  | 14,946 |  |  | — |
Short-term borrowings | 4,614 |  |  | 4,614 |  |  | — |  |  | 4,614 |  |  | — |
Long-term borrowings | 13,568 |  |  | 13,785 |  |  | — |  |  | 13,785 |  |  | — |
December 31, 2025 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | 1,701 |  |  | 1,701 |  |  | 1,588 |  |  | 113 |  |  | — |
Interest-bearing deposits at banks | 17,068 |  |  | 17,068 |  |  | — |  |  | 17,068 |  |  | — |
Investment securities held to maturity | 12,430 |  |  | 11,715 |  |  | — |  |  | 11,671 |  |  | 44 |
Loans, net | 136,586 |  |  | 136,269 |  |  | — |  |  | 7,427 |  |  | 128,842 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Time deposits (a) | 13,227 |  |  | 13,208 |  |  | — |  |  | 13,208 |  |  | — |
Short-term borrowings | 2,149 |  |  | 2,149 |  |  | — |  |  | 2,149 |  |  | — |
Long-term borrowings | 10,911 |  |  | 11,179 |  |  | — |  |  | 11,179 |  |  | — |
__________________________________________________________________________________ (a)Includes $2.9 billion and $2.8 billion of time deposits with balances greater than $250,000 at June 30, 2026 and December 31, 2025, respectively.

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- 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
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- Definition Tabular disclosure of liabilities measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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/2003/role/disclosureRef -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
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- 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
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- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-3 + Details
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