Dollars in millions, except per share data
			Three Months Ended
Summary Financial Data & Key Metrics			March 31, 2024			December 31, 2023			March 31, 2023
Results of Operations:
Net interest income			$	1,817		$	1,911		$	850
Provision for credit losses			64			249			783
Net interest income after provision for credit losses			1,753			1,662			67
Noninterest income			627			543			10,259
Noninterest expense			1,376			1,492			855
Income before income taxes			1,004			713			9,471
Income tax expense (benefit)			273			199			(47)
Net income			731			514			9,518
Preferred stock dividends			15			15			14
Net income available to common stockholders			$	716		$	499		$	9,504
Adjusted net income available to common stockholders(1)			$	769		$	678		$	292
Pre-tax, pre-provision net revenue (PPNR)(1)			$	1,068		$	962		$	10,254
Per Share Information:
Diluted earnings per common share (EPS)			$	49.26		$	34.33		$	653.64
Adjusted diluted EPS(1)			52.92			46.58			20.09
Book value per common share at period end			1,443.03			1,403.12			1,262.76
Tangible book value per common share (TBV)(1) at period end			1,398.88			1,357.77			1,213.82
Key Performance Metrics:
Return on average assets (ROA)			1.36		%	0.95		%	33.23		%
Adjusted ROA(1)			1.46			1.28			1.07
PPNR ROA(1)			1.99			1.78			35.80
Adjusted PPNR ROA(1)			2.12			2.27			1.69
Return on average common equity (ROE)			13.97			9.97			367.47
Adjusted ROE(1)			15.01			13.53			11.30
Return on average tangible common equity (ROTCE)(1)			14.42			10.32			386.69
Adjusted ROTCE(1)			15.50			14.00			11.89
Efficiency ratio			56.30			60.80			7.70
Adjusted efficiency ratio(1)			50.29			48.00			58.39
Net interest margin (NIM)(2)			3.67			3.86			3.41
Select Balance Sheet Items at Period End:
Total investment securities			$	35,044		$	29,999		$	19,527
Total loans and leases			135,370			133,302			138,288
Total operating lease equipment, net			8,811			8,746			8,331
Total deposits			149,609			145,854			140,050
Total borrowings			37,540			37,654			46,094
Loan to deposit ratio			90.48		%	91.39		%	98.74		%
Noninterest-bearing deposits to total deposits			26.25			27.29			39.02
Capital Ratios at Period End: (3)
Total risk-based capital ratio			15.66		%	15.75		%	14.86		%
Tier 1 risk-based capital ratio			14.00			13.94			13.13
Common equity Tier 1 ratio			13.44			13.36			12.53
Tier 1 leverage capital ratio			10.11			9.83			16.72
Asset Quality at Period End:
Nonaccrual loans to total loans and leases			0.79		%	0.73		%	0.60		%
Allowance for loan and lease losses (ALLL) to loans and leases			1.28			1.31			1.16
Net charge-off ratio for the period			0.31			0.53			0.27
(1) Denotes a non-GAAP measure. Refer to the non-GAAP reconciliation subsequently included in these materials for a reconciliation to the most directly comparable GAAP measure. “Adjusted” items exclude the impact of Notable Items.
(2) Calculated net of average credit balances and deposits of factoring clients.
(3) Capital ratios as of the current quarter-end are preliminary pending completion of quarterly regulatory filings.

Dollars in millions, except share and per share data
						Three Months Ended
Income Statement (unaudited)						March 31, 2024			December 31, 2023			March 31, 2023
Interest income
Interest and fees on loans						$	2,354		$	2,391		$	1,017
Interest on investment securities						282			241			107
Interest on deposits at banks						448			485			87
Total interest income						3,084			3,117			1,211
Interest expense
Deposits						928			865			288
Borrowings						339			341			73
Total interest expense						1,267			1,206			361
Net interest income						1,817			1,911			850
Provision for credit losses						64			249			783
Net interest income after provision for credit losses						1,753			1,662			67
Noninterest income
Rental income on operating lease equipment						255			252			233
Fee income and other service charges						75			80			47
Client investment fees						50			51			2
Wealth management services						51			48			40
International fees						28			30			4
Service charges on deposit accounts						44			44			24
Factoring commissions						17			22			19
Cardholder services, net						40			36			21
Merchant services, net						12			12			10
Insurance commissions						15			14			13
Realized loss on sale of investment securities available for sale, net						—			—			(14)
Fair value adjustment on marketable equity securities, net						(4)			9			(9)
Gain on sale of leasing equipment, net						10			2			4
Gain on acquisition						—			(83)			9,824
Loss on extinguishment of debt						(2)			—			—
Other noninterest income						36			26			41
Total noninterest income						627			543			10,259
Noninterest expense
Depreciation on operating lease equipment						96			96			89
Maintenance and other operating lease expenses						45			59			56
Salaries and benefits						744			714			420
Net occupancy expense						62			65			50
Equipment expense						114			114			58
Professional fees						25			28			11
Third-party processing fees						60			66			30
FDIC insurance expense						41			82			18
Marketing expense						14			24			15
Acquisition-related expenses						58			116			28
Intangible asset amortization						17			17			5
Other noninterest expense						100			111			75
Total noninterest expense						1,376			1,492			855
Income before income taxes						1,004			713			9,471
Income tax expense (benefit)						273			199			(47)
Net income						$	731		$	514		$	9,518
Preferred stock dividends						15			15			14
Net income available to common stockholders						$	716		$	499		$	9,504
Basic earnings per common share						$	49.27		$	34.36		$	654.22
Diluted earnings per common share						$	49.26		$	34.33		$	653.64
Weighted average common shares outstanding (basic)						14,533,302			14,528,447			14,526,693
Weighted average common shares outstanding (diluted)						14,536,442			14,539,838			14,539,709

Dollars in millions
Balance Sheet (unaudited)						March 31, 2024			December 31, 2023			March 31, 2023
Assets
Cash and due from banks						$	698		$	908		$	1,598
Interest-earning deposits at banks						30,792			33,609			38,522
Securities purchased under agreements to resell						394			473			—
Investment in marketable equity securities						79			84			85
Investment securities available for sale						24,915			19,936			9,061
Investment securities held to maturity						10,050			9,979			10,381
Assets held for sale						86			76			94
Loans and leases						135,370			133,302			138,288
Allowance for loan and lease losses						(1,737)			(1,747)			(1,605)
Loans and leases, net of allowance for loan and lease losses						133,633			131,555			136,683
Operating lease equipment, net						8,811			8,746			8,331
Premises and equipment, net						1,906			1,877			1,743
Goodwill						346			346			346
Other intangible assets, net						295			312			364
Other assets						5,831			5,857			7,450
Total assets						$	217,836		$	213,758		$	214,658
Liabilities
Deposits:
Noninterest-bearing						$	39,276		$	39,799		$	54,649
Interest-bearing						110,333			106,055			85,401
Total deposits						149,609			145,854			140,050
Credit balances of factoring clients						1,152			1,089			1,126
Borrowings:
Short-term borrowings						395			485			1,009
Long-term borrowings						37,145			37,169			45,085
Total borrowings						37,540			37,654			46,094
Other liabilities						7,687			7,906			8,172
Total liabilities						$	195,988		$	192,503		$	195,442
Stockholders’ equity
Preferred stock						881			881			881
Common stock:
Class A - $1 par value						14			14			14
Class B - $1 par value						1			1			1
Additional paid in capital						4,099			4,108			4,104
Retained earnings						17,435			16,742			14,885
Accumulated other comprehensive loss						(582)			(491)			(669)
Total stockholders’ equity						21,848			21,255			19,216
Total liabilities and stockholders’ equity						$	217,836		$	213,758		$	214,658

Dollars in millions, except share per share data
Notable Items (1)						Three Months Ended
						March 31, 2024			December 31, 2023			March 31, 2023
Noninterest income
Rental income on operating lease equipment (2)						$	(141)		$	(155)		$	(145)
Realized loss on sale of investment securities available for sale, net						—			—			14
Fair value adjustment on marketable equity securities, net						4			(9)			9
Gain on sale of leasing equipment, net						(10)			(2)			(4)
Gain on acquisition						—			83			(9,824)
Loss on extinguishment of debt						2			—			—
Other noninterest income (3)						(4)			(5)			—
Impact of notable items on adjusted noninterest income						$	(149)		$	(88)		$	(9,950)
Noninterest expense
Depreciation on operating lease equipment (2)						(96)			(96)			(89)
Maintenance and other operating lease equipment expense (2)						(45)			(59)			(56)
Professional fees (4)						(3)			(5)			—
FDIC insurance special assessment						(9)			(64)			—
Acquisition-related expenses						(58)			(116)			(28)
Intangible asset amortization						(17)			(17)			(5)
Other noninterest expense (5)						6			—			—
Impact of notable items on adjusted noninterest expense						$	(222)		$	(357)		$	(178)
Day 2 provisions for loan and lease losses and off-balance sheet credit exposure						$	—		$	—		$	(716)
Provision for credit losses on investment securities available for sale						—			—			(4)
Impact of notable items on adjusted provision for credit losses						$	—		$	—		$	(720)
Impact of notable items on adjusted pre-tax income						$	73		$	269		$	(9,052)
Income tax impact (6)						20			90			160
Impact of notable items on adjusted net income						$	53		$	179		$	(9,212)
Impact of notable items on adjusted diluted EPS						$	3.66		$	12.25		$	(633.55)

(1) Notable items include income and expense for infrequent transactions and certain recurring items (typically noncash) that management believes should be excluded from adjusted measures (non-GAAP) to enhance understanding of operations and comparability to historical periods. Management utilizes both GAAP and adjusted measures (non-GAAP) to analyze BancShares’ performance. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.

(2) Depreciation and maintenance and other operating lease expenses are reclassified from noninterest expense to a reduction of rental income on operating lease equipment. There is no net impact to earnings for this notable item as adjusted noninterest income and expense are reduced by the same amount. Adjusted rental income on operating lease equipment (non-GAAP) is net of depreciation and maintenance expense for operating lease equipment. Management believes this measure is meaningful because it helps management monitor the performance and profitability of the operating leases after deducting direct expenses. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measure.

(3) Notable items included in other noninterest income consist of a gain from a litigation settlement in 1Q24 and a gain on sale of insurance accounts in 4Q23.

(4) Professional fees related to other integration activities.

(5) Litigation reserve release in 1Q24.

(6) For the periods presented, the income tax impact may include tax discrete items and changes in the estimated annualized effective tax rate.

Dollars in millions, except share and per share data
Condensed Income Statements (unaudited) - Adjusted for Notable Items (1)			Three Months Ended
			March 31, 2024			December 31, 2023			March 31, 2023
Interest income			$	3,084		$	3,117		$	1,211
Interest expense			1,267			1,206			361
Net interest income			1,817			1,911			850
Provision for credit losses			64			249			63
Net interest income after provision for credit losses			1,753			1,662			787
Noninterest income			478			455			309
Noninterest expense			1,154			1,135			677
Income before income taxes			1,077			982			419
Income tax expense			293			289			113
Net income			$	784		$	693		$	306
Preferred stock dividends			15			15			14
Net income available to common stockholders			$	769		$	678		$	292
Basic earnings per common share			$	52.94		$	46.62		$	20.11
Diluted earnings per common share			52.92			46.58			20.09
Weighted average common shares outstanding (basic)			14,533,302			14,528,447			14,526,693
Weighted average common shares outstanding (diluted)			14,536,442			14,539,838			14,539,709

(1) The GAAP income statements and notable items are included previously in this financial supplement. The condensed adjusted income statements above (non-GAAP) exclude the impacts of notable items. Refer to the non-GAAP reconciliation table(s) at the end of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measure.

Dollars in millions
Loans and Leases by Class (end of period)			March 31, 2024			December 31, 2023			March 31, 2023
Loans and Leases by Class
Commercial
Commercial construction			$	4,062		$	3,918		$	3,386
Owner-occupied commercial mortgages			15,979			15,471			14,411
Non-owner-occupied commercial mortgages			15,329			14,995			13,403
Commercial and industrial			30,164			29,794			26,763
Leases			2,067			2,054			2,163
Total commercial			$	67,601		$	66,232		$	60,126
Consumer
Residential mortgage			$	22,901		$	22,776		$	21,706
Revolving mortgage			2,240			2,165			2,067
Consumer auto			1,476			1,442			1,452
Consumer other			1,306			1,176			1,235
Total consumer			$	27,923		$	27,559		$	26,460
SVB
Global fund banking			$	26,518		$	25,553		$	36,097
Investor dependent - early stage			1,293			1,403			1,994
Investor dependent - growth stage			2,696			2,897			4,418
Innovation C&I and cash flow dependent			9,339			9,658			9,193
Total SVB			$	39,846		$	39,511		$	51,702
Total loans and leases			$	135,370		$	133,302		$	138,288
Less: allowance for loan and lease losses			(1,737)			(1,747)			(1,605)
Total loans and leases, net of allowance for loan and lease losses			$	133,633		$	131,555		$	136,683
Deposits by Type (end of period)			March 31, 2024			December 31, 2023			March 31, 2023
Demand			$	39,276		$	39,799		$	54,649
Checking with interest			24,244			23,754			23,743
Money market			31,393			30,611			30,597
Savings			37,688			35,258			18,132
Time			17,008			16,432			12,929
Total deposits			$	149,609		$	145,854		$	140,050

Dollars in millions
															Three Months Ended
Credit Quality and Allowance for Loan and Lease Losses (ALLL)															March 31, 2024			December 31, 2023			March 31, 2023
Nonaccrual loans at period end															$	1,074		$	969		$	828
Ratio of nonaccrual loans to total loans at period end															0.79		%	0.73		%	0.60		%
Charge-offs															$	(128)		$	(201)		$	(62)
Recoveries															25			24			12
Net charge-offs															$	(103)		$	(177)		$	(50)
Net charge-off ratio															0.31		%	0.53		%	0.27		%
ALLL to loans ratio at period end															1.28		%	1.31		%	1.16		%
ALLL at beginning of period															$	1,747		$	1,673		$	922
Initial PCD ALLL															—			—			200
Day 2 provision for loan and lease losses															—			—			462
Provision for loan and lease losses															93			251			71
Net charge-offs															(103)			(177)			(50)
ALLL at end of period															$	1,737		$	1,747		$	1,605

Dollars in millions			Three Months Ended
Average Balance Sheets, Yields and Rates			March 31, 2024									December 31, 2023									March 31, 2023
			Average Balance			Income/Expense			Yield/Rate			Average Balance			Income/Expense			Yield/Rate			Average Balance			Income/Expense			Yield/Rate
Loans and leases (1)(2)			$	132,313		$	2,354		7.15		%	$	131,594		$	2,391		7.21		%	$	73,592		$	1,017		5.59		%
Investment securities			32,647			279			3.42			28,722			239			3.30			19,416			107			2.21
Securities purchased under agreements to resell			244			3			5.40			225			2			5.36			—			—			—
Interest-earning deposits at banks			33,383			448			5.39			35,712			485			5.39			7,585			87			4.61
Total interest-earning assets (2)			$	198,587		$	3,084		6.23		%	$	196,253		$	3,117		6.30		%	$	100,593		$	1,211		4.86		%
Operating lease equipment, net			$	8,806								$	8,715								$	8,236
Cash and due from banks			785									846									595
Allowance for loan and lease losses			(1,796)									(1,717)									(936)
All other noninterest-earning assets			9,699									10,515									7,676
Total assets			$	216,081								$	214,612								$	116,164
Interest-bearing deposits
Checking with interest			$	23,963		$	130		2.18		%	$	23,820		$	128		2.14		%	$	16,494		$	22		0.55		%
Money market			30,929			232			3.02			30,173			211			2.77			21,216			80			1.53
Savings			36,493			391			4.31			34,166			362			4.20			17,730			110			2.51
Time deposits			16,679			175			4.21			16,558			164			3.94			11,917			76			2.59
Total interest-bearing deposits			108,064			928			3.45			104,717			865			3.28			67,357			288			1.73
Borrowings:
Securities sold under customer repurchase agreements			431			1			0.47			455			1			0.44			455			—			0.30
Short-term FHLB borrowings			—			—			—			—			—			—			328			4			4.67
Short-term borrowings			431			1			0.47			455			1			0.44			783			4			2.13
Federal Home Loan Bank borrowings			—			—			2.00			—			—			1.99			3,284			40			4.96
Senior unsecured borrowings			376			2			2.50			377			3			2.46			883			5			2.06
Subordinated debt			911			8			3.29			1,038			10			3.82			1,048			9			3.54
Other borrowings			35,859			328			3.66			35,845			327			3.65			1,978			15			2.93
Long-term borrowings			37,146			338			3.64			37,260			340			3.65			7,193			69			3.84
Total borrowings			37,577			339			3.60			37,715			341			3.61			7,976			73			3.67
Total interest-bearing liabilities			$	145,641		$	1,267		3.49		%	$	142,432		$	1,206		3.37		%	$	75,333		$	361		1.94		%
Noninterest-bearing deposits			$	39,651								$	41,599								$	26,482
Credit balances of factoring clients			1,105									1,275									1,007
Other noninterest-bearing liabilities			8,186									8,566									1,973
Stockholders' equity			21,498									20,740									11,369
Total liabilities and stockholders’ equity			$	216,081								$	214,612								$	116,164
Net interest income						$	1,817								$	1,911								$	850
Net interest spread (2)									2.74		%							2.93		%							2.92		%
Net interest margin (2)									3.67		%							3.86		%							3.41		%
(1) Loans and leases include non-PCD and PCD loans, nonaccrual loans, and loans held for sale. Interest income on loans and leases includes accretion income and loan fees.
(2) The balance and rate presented is calculated net of average credit balances and deposits of factoring clients.
Note: Certain items above do not precisely recalculate as presented due to rounding.

Dollars in millions, except share and per share data
						Three Months Ended
Non-GAAP Reconciliations						March 31, 2024			December 31, 2023			March 31, 2023
Net income and EPS
Net income (GAAP)			a			$	731		$	514		$	9,518
Preferred stock dividends						15			15			14
Net income available to common stockholders (GAAP)			b			716			499			9,504
Total notable items, after income tax			c			53			179			(9,212)
Adjusted net income (non-GAAP)			d = (a+c)			784			693			306
Adjusted net income available to common stockholders (non-GAAP)			e = (b+c)			$	769		$	678		$	292
Weighted average common shares outstanding
Basic			f			14,533,302			14,528,447			14,526,693
Diluted			g			14,536,442			14,539,838			14,539,709
EPS (GAAP)
Basic			b/f			$	49.27		$	34.36		$	654.22
Diluted			b/g			49.26			34.33			653.64
Adjusted EPS (non-GAAP)
Basic			e/f			$	52.94		$	46.62		$	20.11
Diluted			e/g			52.92			46.58			20.09
Noninterest income and expense
Noninterest income			h			$	627		$	543		$	10,259
Impact of notable items, before income tax						(149)			(88)			(9,950)
Adjusted noninterest income (non-GAAP)			i			$	478		$	455		$	309
Noninterest expense			j			$	1,376		$	1,492		$	855
Impact of notable items, before income tax						(222)			(357)			(178)
Adjusted noninterest expense (non-GAAP)			k			$	1,154		$	1,135		$	677
Provision for credit losses
Provision for credit losses						$	64		$	249		$	783
Less: day 2 provision for loan and lease losses and off-balance sheet exposure						—			—			716
Less: provision for credit losses on investment securities available for sale						—			—			4
Adjusted provision for credit losses (non-GAAP)						$	64		$	249		$	63
PPNR
Net income (GAAP)			a			$	731		$	514		$	9,518
Plus:
Provision for credit losses						64			249			783
Income tax expense						273			199			(47)
PPNR (non-GAAP)			l			$	1,068		$	962		$	10,254
Impact of notable items (1)						73			269			(9,772)
Adjusted PPNR (non-GAAP)			m			$	1,141		$	1,231		$	482
(1) Excludes the notable items for the provision for credit losses and income taxes as these items are excluded from PPNR as presented in the table above.
Note: Certain items above do not precisely recalculate as presented due to rounding.

Dollars in millions
						Three Months Ended
Non-GAAP Reconciliations (continued)						March 31, 2024			December 31, 2023			March 31, 2023
ROA
Net income (GAAP)			a			$	731		$	514		$	9,518
Annualized net income			n = a annualized			2,942			2,041			38,602
Adjusted net income (non-GAAP)			d			784			693			306
Annualized adjusted net income			p = d annualized			3,156			2,748			1,244
Average assets			o			216,081			214,612			116,164
ROA			n/o			1.36		%	0.95		%	33.23		%
Adjusted ROA (non-GAAP)			p/o			1.46			1.28			1.07
PPNR ROA
PPNR (non-GAAP)			l			$	1,068		$	962		$	10,254
Annualized PPNR			q = l annualized			4,296			3,818			41,586
Adjusted PPNR (non-GAAP)			m			1,141			1,231			482
Annualized adjusted PPNR			r = m annualized			4,589			4,882			1,954
PPNR ROA			q/o			1.99		%	1.78		%	35.80		%
Adjusted PPNR ROA (non-GAAP)			r/o			2.12			2.27			1.69
ROE and ROTCE
Annualized net income available to common stockholders			s = b annualized			$	2,880		$	1,980		$	38,543
Annualized adjusted net income available to common stockholders			t = e annualized			$	3,094		$	2,687		$	1,185
Average stockholders' equity (GAAP)						$	21,498		$	20,740		$	11,369
Less: average preferred stock						881			881			881
Average common stockholders' equity (non-GAAP)			u			$	20,617		$	19,859		$	10,488
Less: average goodwill						346			346			346
Less: average other intangible assets						304			322			175
Average tangible common equity (non-GAAP)			v			$	19,967		$	19,191		$	9,967
ROE			s/u			13.97		%	9.97		%	367.47		%
Adjusted ROE (non-GAAP)			t/u			15.01			13.53			11.30
ROTCE			s/v			14.42			10.32			386.69
Adjusted ROTCE (non-GAAP)			t/v			15.50			14.00			11.89
Tangible common equity to tangible assets at period end
Stockholders' equity (GAAP)			w			$	21,848		$	21,255		$	19,216
Less: preferred stock						881			881			881
Common equity (non-GAAP)			x			$	20,967		$	20,374		$	18,335
Less: goodwill						346			346			346
Less: other intangible assets						295			312			364
Tangible common equity (non-GAAP)			y			$	20,326		$	19,716		$	17,625
Total assets (GAAP)			z			217,836			213,758			214,658
Tangible assets (non-GAAP)			aa			217,195			213,100			213,948
Total equity to total assets			w/z			10.03		%	9.94		%	8.95		%
Tangible common equity to tangible assets (non-GAAP)			y/aa			9.36			9.25			8.24
Note: Certain items above do not precisely recalculate as presented due to rounding.

Dollars in millions, except share and per share data
						Three Months Ended
Non-GAAP Reconciliations (continued)						March 31, 2024			December 31, 2023			March 31, 2023
Book value and tangible book value per common share at period end
Common shares outstanding at period end			bb			14,529,735			14,520,118			14,519,993
Book value per share			x/bb			$	1,443.03		$	1,403.12		$	1,262.76
Tangible book value per share (non-GAAP)			y/bb			1,398.88			1,357.77			1,213.82
Efficiency ratio
Net interest income			cc			$	1,817		$	1,911		$	850
Efficiency ratio (GAAP)			j / (h + cc)			56.30		%	60.80		%	7.70		%
Adjusted efficiency ratio (non-GAAP)			k / (i + cc)			50.29			48.00			58.39
Rental income on operating lease equipment
Rental income on operating lease equipment						$	255		$	252		$	233
Less: depreciation on operating lease equipment						96			96			89
Less: maintenance and other operating lease expenses						45			59			56
Adjusted rental income on operating lease equipment (non-GAAP)						$	114		$	97		$	88
Note: Certain items above do not precisely recalculate as presented due to rounding.