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BUSINESS SEGMENTS | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | NOTE 16 - BUSINESS SEGMENTS The Company is managed by its CODM, the Chief Executive Officer, on a segment basis. The Company’s three reportable business segments are Consumer Banking, Commercial Banking, and Non-Core. The business segments are determined based on the products and services provided, or the type of customer served. Each business segment has a segment head that reports directly to the Chief Executive Officer, who has final authority over resource allocation decisions and performance assessment. The business segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer. The CODM utilizes segment pretax profit or loss as the primary measure to allocate resources to the Company’s business segments during the annual budgeting and forecasting process. This measure is also used to assess the performance of each segment, with a focus on monitoring net interest income, noninterest income, and noninterest expense. To ensure effective oversight, the CODM participates in monthly business review meetings, where budget- and forecast-to-actual variances for pretax profit or loss and its components are analyzed. These evaluations inform the CODM’s decisions regarding the allocation of capital and resources across the business segments, ensuring alignment with the Company’s strategic objectives. Developing and applying methodologies used to allocate items among the business segments is a dynamic process. Accordingly, financial results may be revised periodically as management systems are enhanced, methods of evaluating performance or product lines are updated, or organizational structure changes occur. For more information on the Company’s business segments, as well as Other non-segment operations, see Note 26 in the Company’s 2024 Form 10-K.
| Three Months Ended March 31, 2025
(dollars in millions) | Consumer Banking |  | Commercial Banking |  | Non-Core |  | Other |  | Consolidated
Net interest income | $1,193 |  |  | $441 |  |  | ($15) |  |  | ($228) |  |  | $1,391 |
Noninterest income | 297 |  |  | 215 |  |  | — |  |  | 32 |  |  | 544 |
Total revenue | 1,490 |  |  | 656 |  |  | (15) |  |  | (196) |  |  | 1,935 |
Direct expenses(1)(2) | 669 |  |  | 218 |  |  | — |  |  | 427 |  |  | 1,314 |
Indirect expenses(3) | 285 |  |  | 109 |  |  | 16 |  |  | (410) |  |  | — |
Noninterest expense | 954 |  |  | 327 |  |  | 16 |  |  | 17 |  |  | 1,314 |
Profit (loss) before provision (benefit) for credit losses | 536 |  |  | 329 |  |  | (31) |  |  | (213) |  |  | 621 |
Provision (benefit) for credit losses | 86 |  |  | 77 |  |  | 37 |  |  | (47) |  |  | 153 |
Income (loss) before income tax expense (benefit) | 450 |  |  | 252 |  |  | (68) |  |  | (166) |  |  | 468 |
Income tax expense (benefit) | 114 |  |  | 56 |  |  | (17) |  |  | (58) |  |  | 95 |
Net income (loss) | $336 |  |  | $196 |  |  | ($51) |  |  | ($108) |  |  | $373 |
Total average assets | $77,534 |  |  | $65,366 |  |  | $6,536 |  |  | $66,873 |  |  | $216,309 |
(1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy. (2) Includes depreciation and amortization of $31 million, $5 million and $75 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments. (3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.
| Three Months Ended March 31, 2024
(dollars in millions) | Consumer Banking |  | Commercial Banking |  | Non-Core |  | Other |  | Consolidated
Net interest income | $1,093 |  |  | $514 |  |  | ($37) |  |  | ($128) |  |  | $1,442 |
Noninterest income | 258 |  |  | 227 |  |  | — |  |  | 32 |  |  | 517 |
Total revenue | 1,351 |  |  | 741 |  |  | (37) |  |  | (96) |  |  | 1,959 |
Direct expenses(1)(2) | 576 |  |  | 213 |  |  | 1 |  |  | 568 |  |  | 1,358 |
Indirect expenses(3) | 327 |  |  | 104 |  |  | 24 |  |  | (455) |  |  | — |
Noninterest expense | 903 |  |  | 317 |  |  | 25 |  |  | 113 |  |  | 1,358 |
Profit (loss) before provision (benefit) for credit losses | 448 |  |  | 424 |  |  | (62) |  |  | (209) |  |  | 601 |
Provision (benefit) for credit losses | 81 |  |  | 81 |  |  | 19 |  |  | (10) |  |  | 171 |
Income (loss) before income tax expense (benefit) | 367 |  |  | 343 |  |  | (81) |  |  | (199) |  |  | 430 |
Income tax expense (benefit) | 95 |  |  | 84 |  |  | (21) |  |  | (62) |  |  | 96 |
Net income (loss) | $272 |  |  | $259 |  |  | ($60) |  |  | ($137) |  |  | $334 |
Total average assets | $73,833 |  |  | $70,100 |  |  | $10,554 |  |  | $66,283 |  |  | $220,770 |
(1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy. (2) Includes depreciation and amortization of $27 million, $7 million and $77 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments. (3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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