XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.25.3

LOANS AND LEASES | 9 Months Ended
--- | ---
Sep. 30, 2025
Receivables [Abstract] |
LOANS AND LEASES | NOTE 4 — LOANS AND LEASES Unless otherwise noted, loans held for sale are not included in the following tables. Leases in the following tables include finance leases, but exclude operating lease equipment. Loans by Class
dollars in millions | September 30, 2025 |  | December 31, 2024
Commercial |  |  |
Commercial construction | $ | 5,926 |  |  | $ | 5,109 |
Owner occupied commercial mortgage | 17,232 |  |  | 16,842 |
Non-owner occupied commercial mortgage | 15,645 |  |  | 16,194 |
Commercial and industrial | 41,172 |  |  | 40,737 |
Leases | 2,066 |  |  | 2,014 |
Global fund banking | 31,615 |  |  | 27,904 |
Investor dependent | 2,772 |  |  | 3,193 |
Total commercial | 116,428 |  |  | 111,993 |
Consumer |  |  |
Residential mortgage | 23,036 |  |  | 23,152 |
Revolving mortgage | 2,794 |  |  | 2,567 |
Consumer auto | 1,463 |  |  | 1,523 |
Consumer other | 1,037 |  |  | 986 |
Total consumer | 28,330 |  |  | 28,228 |
Total loans and leases | $ | 144,758 |  |  | $ | 140,221 |
Refer to Note 1—Significant Accounting Policies and Basis of Presentation for discussion related to changes in loan classes. At September 30, 2025 and December 31, 2024, accrued interest receivable on loans included in other assets was $637 million and $603 million, respectively, and was excluded from the estimate of credit losses. The discount on acquired loans is accreted to interest income over the contractual life of the loan using the effective interest method. Discount accretion income was $71 million and $230 million for the three and nine months ended September 30, 2025, including $6 million and $17 million for unfunded commitments, respectively. Discount accretion income was $107 million and $415 million for the three and nine months ended September 30, 2024, including $16 million and $71 million for unfunded commitments, respectively. The following table presents selected components of the amortized cost of loans, including the unamortized discount on acquired loans. Components of Amortized Cost
dollars in millions | September 30, 2025 |  | December 31, 2024
Deferred fees, including unamortized costs and unearned fees on non-PCD loans | $ | (89) |  | $ | (91)
Net unamortized discount on acquired loans |  |  |
Non-PCD | $ | 1,339 |  | $ | 1,504
PCD | 44 |  | 94 |
Total net unamortized discount | $ | 1,383 |  | $ | 1,598
The aging and nonaccrual status of the outstanding loans and leases by class at September 30, 2025 and December 31, 2024 are provided in the tables below. Loans and leases less than 30 days past due are considered current, as various grace periods allow borrowers to make payments within a stated period after the due date and remain in compliance with the respective agreement. Loans and Leases - Delinquency and Nonaccrual Status (1) (2)
dollars in millions | September 30, 2025
| Accruing Loans |  |  |  |
| 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or Greater |  | Total Past Due |  | Current |  | Total Accruing |  | Nonaccrual Loans |  | Total
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial construction | $ | 8 |  |  | $ | 20 |  |  | $ | 19 |  |  | $ | 47 |  |  | $ | 5,870 |  |  | $ | 5,917 |  |  | $ | 9 |  |  | $ | 5,926 |
Owner occupied commercial mortgage | 31 |  |  | 21 |  |  | — |  |  | 52 |  |  | 17,022 |  |  | 17,074 |  |  | 158 |  |  | 17,232 |
Non-owner occupied commercial mortgage | 36 |  |  | 36 |  |  | 142 |  |  | 214 |  |  | 15,066 |  |  | 15,280 |  |  | 365 |  |  | 15,645 |
Commercial and industrial | 253 |  |  | 53 |  |  | 40 |  |  | 346 |  |  | 40,250 |  |  | 40,596 |  |  | 576 |  |  | 41,172 |
Leases | 30 |  |  | 7 |  |  | — |  |  | 37 |  |  | 2,004 |  |  | 2,041 |  |  | 25 |  |  | 2,066 |
Global fund banking | — |  |  | — |  |  | — |  |  | — |  |  | 31,615 |  |  | 31,615 |  |  | — |  |  | 31,615 |
Investor dependent | 2 |  |  | 1 |  |  | — |  |  | 3 |  |  | 2,708 |  |  | 2,711 |  |  | 61 |  |  | 2,772 |
Total commercial | 360 |  |  | 138 |  |  | 201 |  |  | 699 |  |  | 114,535 |  |  | 115,234 |  |  | 1,194 |  |  | 116,428 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 116 |  |  | 36 |  |  | 6 |  |  | 158 |  |  | 22,708 |  |  | 22,866 |  |  | 170 |  |  | 23,036 |
Revolving mortgage | 16 |  |  | 3 |  |  | — |  |  | 19 |  |  | 2,742 |  |  | 2,761 |  |  | 33 |  |  | 2,794 |
Consumer auto | 10 |  |  | 2 |  |  | — |  |  | 12 |  |  | 1,443 |  |  | 1,455 |  |  | 8 |  |  | 1,463 |
Consumer other | 4 |  |  | 3 |  |  | 2 |  |  | 9 |  |  | 1,027 |  |  | 1,036 |  |  | 1 |  |  | 1,037 |
Total consumer | 146 |  |  | 44 |  |  | 8 |  |  | 198 |  |  | 27,920 |  |  | 28,118 |  |  | 212 |  |  | 28,330 |
Total loans and leases | $ | 506 |  |  | $ | 182 |  |  | $ | 209 |  |  | $ | 897 |  |  | $ | 142,455 |  |  | $ | 143,352 |  |  | $ | 1,406 |  |  | $ | 144,758 |
| December 31, 2024
| Accruing Loans |  |  |  |
| 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or Greater |  | Total Past Due |  | Current |  | Total Accruing |  | Nonaccrual Loans |  | Total
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial construction | $ | 21 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 23 |  |  | $ | 5,077 |  |  | $ | 5,100 |  |  | $ | 9 |  |  | $ | 5,109 |
Owner occupied commercial mortgage | 30 |  |  | 9 |  |  | 2 |  |  | 41 |  |  | 16,739 |  |  | 16,780 |  |  | 62 |  |  | 16,842 |
Non-owner occupied commercial mortgage | 43 |  |  | 27 |  |  | 78 |  |  | 148 |  |  | 15,621 |  |  | 15,769 |  |  | 425 |  |  | 16,194 |
Commercial and industrial | 170 |  |  | 40 |  |  | 16 |  |  | 226 |  |  | 40,122 |  |  | 40,348 |  |  | 389 |  |  | 40,737 |
Leases | 33 |  |  | 11 |  |  | 2 |  |  | 46 |  |  | 1,937 |  |  | 1,983 |  |  | 31 |  |  | 2,014 |
Global fund banking | — |  |  | — |  |  | — |  |  | — |  |  | 27,904 |  |  | 27,904 |  |  | — |  |  | 27,904 |
Investor dependent | 10 |  |  | 1 |  |  | — |  |  | 11 |  |  | 3,095 |  |  | 3,106 |  |  | 87 |  |  | 3,193 |
Total commercial | 307 |  |  | 89 |  |  | 99 |  |  | 495 |  |  | 110,495 |  |  | 110,990 |  |  | 1,003 |  |  | 111,993 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 172 |  |  | 27 |  |  | 7 |  |  | 206 |  |  | 22,798 |  |  | 23,004 |  |  | 148 |  |  | 23,152 |
Revolving mortgage | 20 |  |  | 4 |  |  | — |  |  | 24 |  |  | 2,519 |  |  | 2,543 |  |  | 24 |  |  | 2,567 |
Consumer auto | 12 |  |  | 3 |  |  | — |  |  | 15 |  |  | 1,500 |  |  | 1,515 |  |  | 8 |  |  | 1,523 |
Consumer other | 5 |  |  | 3 |  |  | 3 |  |  | 11 |  |  | 974 |  |  | 985 |  |  | 1 |  |  | 986 |
Total consumer | 209 |  |  | 37 |  |  | 10 |  |  | 256 |  |  | 27,791 |  |  | 28,047 |  |  | 181 |  |  | 28,228 |
Total loans and leases | $ | 516 |  |  | $ | 126 |  |  | $ | 109 |  |  | $ | 751 |  |  | $ | 138,286 |  |  | $ | 139,037 |  |  | $ | 1,184 |  |  | $ | 140,221 |
(1) Accrued interest that was reversed when the loan went to nonaccrual status was $14 million for the nine months ended September 30, 2025 and $14 million for the year ended December 31, 2024. (2) Nonaccrual loans for which there was no related ALLL totaled $411 million at September 30, 2025 and $303 million at December 31, 2024. Other real estate owned (“OREO”) and repossessed assets were $98 million as of September 30, 2025 and $64 million as of December 31, 2024. Credit Quality Indicators Loans and leases are monitored for credit quality on a recurring basis. Commercial loans and leases and consumer loans have different credit quality indicators as a result of the unique characteristics of the loan classes being evaluated. The credit quality indicators for commercial loans and leases are developed through a review of individual borrowers on an ongoing basis. Commercial loans are evaluated periodically with more frequent evaluations done on criticized loans. The indicators as of the date presented are based on the most recent assessment performed and are defined below: Pass – A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification. Special mention – A special mention asset has potential weaknesses which deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification. Substandard – A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected. Doubtful – An asset classified as doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions and values. Loss – Assets classified as loss are considered uncollectible and of such little value it is inappropriate to be carried as an asset. This classification is not necessarily equivalent to any potential for recovery or salvage value, but rather it is not appropriate to defer a full charge-off even though partial recovery may be affected in the future. Ungraded – Ungraded loans represent loans not included in the individual credit grading process due to their relatively small balances or borrower type. The majority of ungraded loans at September 30, 2025 and December 31, 2024, relate to business credit cards. Business credit card loans are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit. The credit quality indicator for consumer loans is based on delinquency status of the borrower as of the date presented. As the borrower becomes more delinquent, the likelihood of loss increases. An exemption is applied to government guaranteed loans as the principal repayments are insured by the Federal Housing Administration and U.S. Department of Veterans Affairs and thus remain on accrual status regardless of delinquency status. The following tables summarize the commercial loans disaggregated by year of origination and by risk rating. The consumer loan delinquency status by year of origination is also presented below. The tables reflect the amortized cost of the loans and include purchased credit deteriorated (“PCD”) loans. Commercial Loans - Risk Classifications by Class
September 30, 2025
Risk Classification: | Term Loans by Origination Year |  |  |  | Revolving Converted to Term Loans |  |
dollars in millions | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 & Prior |  | Revolving |  |  | Total
Commercial construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,488 |  |  | $ | 1,672 |  |  | $ | 1,453 |  |  | $ | 590 |  |  | $ | 84 |  |  | $ | 79 |  |  | $ | 362 |  |  | $ | — |  |  | $ | 5,728 |
Special Mention | 7 |  |  | 4 |  |  | 56 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 67 |
Substandard | 5 |  |  | 15 |  |  | 4 |  |  | 85 |  |  | 15 |  |  | 4 |  |  | — |  |  | — |  |  | 128 |
Doubtful | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial construction | 1,503 |  |  | 1,691 |  |  | 1,513 |  |  | 675 |  |  | 99 |  |  | 83 |  |  | 362 |  |  | — |  |  | 5,926 |
Owner occupied commercial mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,806 |  |  | 2,703 |  |  | 2,345 |  |  | 2,463 |  |  | 2,355 |  |  | 4,253 |  |  | 215 |  |  | 28 |  |  | 16,168 |
Special Mention | 47 |  |  | 32 |  |  | 47 |  |  | 106 |  |  | 40 |  |  | 51 |  |  | 2 |  |  | — |  |  | 325 |
Substandard | 39 |  |  | 59 |  |  | 115 |  |  | 187 |  |  | 94 |  |  | 221 |  |  | 9 |  |  | 1 |  |  | 725 |
Doubtful | — |  |  | 4 |  |  | 10 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total owner occupied commercial mortgage | 1,892 |  |  | 2,798 |  |  | 2,517 |  |  | 2,756 |  |  | 2,489 |  |  | 4,525 |  |  | 226 |  |  | 29 |  |  | 17,232 |
Non-owner occupied commercial mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,977 |  |  | 2,606 |  |  | 3,235 |  |  | 2,241 |  |  | 1,375 |  |  | 2,575 |  |  | 93 |  |  | 3 |  |  | 14,105 |
Special Mention | 128 |  |  | 53 |  |  | 114 |  |  | 51 |  |  | 1 |  |  | 24 |  |  | — |  |  | — |  |  | 371 |
Substandard | 354 |  |  | 243 |  |  | 141 |  |  | 107 |  |  | 35 |  |  | 199 |  |  | 1 |  |  | — |  |  | 1,080 |
Doubtful | 42 |  |  | 21 |  |  | — |  |  | 15 |  |  | — |  |  | 11 |  |  | — |  |  | — |  |  | 89 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total non-owner occupied commercial mortgage | 2,501 |  |  | 2,923 |  |  | 3,490 |  |  | 2,414 |  |  | 1,411 |  |  | 2,809 |  |  | 94 |  |  | 3 |  |  | 15,645 |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 9,018 |  |  | 8,274 |  |  | 4,151 |  |  | 3,307 |  |  | 1,717 |  |  | 1,803 |  |  | 9,082 |  |  | 75 |  |  | 37,427 |
Special Mention | 188 |  |  | 234 |  |  | 105 |  |  | 122 |  |  | 193 |  |  | 47 |  |  | 116 |  |  | — |  |  | 1,005 |
Substandard | 410 |  |  | 207 |  |  | 387 |  |  | 454 |  |  | 316 |  |  | 58 |  |  | 502 |  |  | 4 |  |  | 2,338 |
Doubtful | 10 |  |  | 11 |  |  | 31 |  |  | 80 |  |  | 10 |  |  | 1 |  |  | 108 |  |  | — |  |  | 251 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 151 |  |  | — |  |  | 151 |
Total commercial and industrial | 9,626 |  |  | 8,726 |  |  | 4,674 |  |  | 3,963 |  |  | 2,236 |  |  | 1,909 |  |  | 9,959 |  |  | 79 |  |  | 41,172 |
Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 620 |  |  | 591 |  |  | 375 |  |  | 179 |  |  | 79 |  |  | 62 |  |  | — |  |  | — |  |  | 1,906 |
Special Mention | 14 |  |  | 16 |  |  | 13 |  |  | 20 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 65 |
Substandard | 19 |  |  | 22 |  |  | 19 |  |  | 9 |  |  | 7 |  |  | 10 |  |  | — |  |  | — |  |  | 86 |
Doubtful | 2 |  |  | 2 |  |  | 2 |  |  | 2 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 9 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total leases | 655 |  |  | 631 |  |  | 409 |  |  | 210 |  |  | 89 |  |  | 72 |  |  | — |  |  | — |  |  | 2,066 |
Global fund banking |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 983 |  |  | 778 |  |  | 57 |  |  | 104 |  |  | 11 |  |  | 16 |  |  | 29,516 |  |  | 148 |  |  | 31,613 |
Special Mention | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total global fund banking | 983 |  |  | 779 |  |  | 57 |  |  | 104 |  |  | 11 |  |  | 16 |  |  | 29,517 |  |  | 148 |  |  | 31,615 |
Investor dependent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 798 |  |  | 776 |  |  | 183 |  |  | 108 |  |  | — |  |  | — |  |  | 290 |  |  | — |  |  | 2,155 |
Special Mention | 1 |  |  | 48 |  |  | 7 |  |  | 5 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 62 |
Substandard | 65 |  |  | 190 |  |  | 140 |  |  | 46 |  |  | 7 |  |  | — |  |  | 47 |  |  | — |  |  | 495 |
Doubtful | 10 |  |  | 24 |  |  | 16 |  |  | 6 |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 60 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total investor dependent | 874 |  |  | 1,038 |  |  | 346 |  |  | 165 |  |  | 7 |  |  | — |  |  | 342 |  |  | — |  |  | 2,772 |
Total commercial | $ | 18,034 |  |  | $ | 18,586 |  |  | $ | 13,006 |  |  | $ | 10,287 |  |  | $ | 6,342 |  |  | $ | 9,414 |  |  | $ | 40,500 |  |  | $ | 259 |  |  | $ | 116,428 |
Consumer Loans - Delinquency Status by Class
September 30, 2025
Days Past Due: | Term Loans by Origination Year |  |  |  | Revolving Converted to Term Loans |  |
dollars in millions | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 & Prior |  | Revolving |  |  | Total
Residential mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | $ | 1,558 |  |  | $ | 2,219 |  |  | $ | 2,671 |  |  | $ | 4,912 |  |  | $ | 4,815 |  |  | $ | 6,574 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 22,754 |
30-59 days | 1 |  |  | 5 |  |  | 15 |  |  | 18 |  |  | 14 |  |  | 81 |  |  | — |  |  | — |  |  | 134 |
60-89 days | 1 |  |  | 2 |  |  | 2 |  |  | 7 |  |  | 4 |  |  | 39 |  |  | — |  |  | — |  |  | 55 |
90 days or greater | — |  |  | 1 |  |  | 5 |  |  | 8 |  |  | 8 |  |  | 71 |  |  | — |  |  | — |  |  | 93 |
Total residential mortgage | 1,560 |  |  | 2,227 |  |  | 2,693 |  |  | 4,945 |  |  | 4,841 |  |  | 6,765 |  |  | 5 |  |  | — |  |  | 23,036 |
Revolving mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,629 |  |  | 125 |  |  | 2,754 |
30-59 days | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 9 |  |  | 20 |
60-89 days | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 5 |  |  | 6 |
90 days or greater | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 11 |  |  | 14 |
Total revolving mortgage | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,644 |  |  | 150 |  |  | 2,794 |
Consumer auto |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 422 |  |  | 454 |  |  | 248 |  |  | 183 |  |  | 94 |  |  | 45 |  |  | — |  |  | — |  |  | 1,446 |
30-59 days | 1 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 12 |
60-89 days | — |  |  | 1 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |
90 days or greater | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Total consumer auto | 423 |  |  | 459 |  |  | 253 |  |  | 187 |  |  | 95 |  |  | 46 |  |  | — |  |  | — |  |  | 1,463 |
Consumer other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 89 |  |  | 112 |  |  | 92 |  |  | 55 |  |  | 18 |  |  | 8 |  |  | 655 |  |  | — |  |  | 1,029 |
30-59 days | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
60-89 days | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
90 days or greater | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Total consumer other | 89 |  |  | 112 |  |  | 92 |  |  | 55 |  |  | 18 |  |  | 8 |  |  | 663 |  |  | — |  |  | 1,037 |
Total consumer | $ | 2,072 |  |  | $ | 2,798 |  |  | $ | 3,038 |  |  | $ | 5,187 |  |  | $ | 4,954 |  |  | $ | 6,819 |  |  | $ | 3,312 |  |  | $ | 150 |  |  | $ | 28,330 |
The following tables represent current credit quality indicators by origination year as of December 31, 2024: Commercial Loans - Risk Classifications by Class
December 31, 2024
Risk Classification: | Term Loans by Origination Year |  |  |  | Revolving Converted to Term Loans |  |
dollars in millions | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 & Prior |  | Revolving |  |  | Total
Commercial construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,095 |  |  | $ | 1,854 |  |  | $ | 1,276 |  |  | $ | 287 |  |  | $ | 152 |  |  | $ | 52 |  |  | $ | 148 |  |  | $ | — |  |  | $ | 4,864 |
Special Mention | — |  |  | 80 |  |  | 35 |  |  | — |  |  | 7 |  |  | 24 |  |  | — |  |  | — |  |  | 146 |
Substandard | — |  |  | 8 |  |  | 47 |  |  | 20 |  |  | 7 |  |  | 17 |  |  | — |  |  | — |  |  | 99 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial construction | 1,095 |  |  | 1,942 |  |  | 1,358 |  |  | 307 |  |  | 166 |  |  | 93 |  |  | 148 |  |  | — |  |  | 5,109 |
Owner occupied commercial mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 2,721 |  |  | 2,445 |  |  | 2,747 |  |  | 2,581 |  |  | 2,199 |  |  | 2,988 |  |  | 223 |  |  | 29 |  |  | 15,933 |
Special Mention | 22 |  |  | 46 |  |  | 70 |  |  | 58 |  |  | 32 |  |  | 61 |  |  | 9 |  |  | — |  |  | 298 |
Substandard | 30 |  |  | 34 |  |  | 136 |  |  | 82 |  |  | 73 |  |  | 245 |  |  | 10 |  |  | 1 |  |  | 611 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total owner occupied commercial mortgage | 2,773 |  |  | 2,525 |  |  | 2,953 |  |  | 2,721 |  |  | 2,304 |  |  | 3,294 |  |  | 242 |  |  | 30 |  |  | 16,842 |
Non-owner occupied commercial mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 2,879 |  |  | 3,082 |  |  | 2,744 |  |  | 2,041 |  |  | 1,598 |  |  | 2,134 |  |  | 119 |  |  | 3 |  |  | 14,600 |
Special Mention | — |  |  | 66 |  |  | 293 |  |  | 43 |  |  | 4 |  |  | 86 |  |  | — |  |  | — |  |  | 492 |
Substandard | 12 |  |  | 15 |  |  | 171 |  |  | 39 |  |  | 116 |  |  | 653 |  |  | — |  |  | — |  |  | 1,006 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | 20 |  |  | 76 |  |  | — |  |  | — |  |  | 96 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total non-owner occupied commercial mortgage | 2,891 |  |  | 3,163 |  |  | 3,208 |  |  | 2,123 |  |  | 1,738 |  |  | 2,949 |  |  | 119 |  |  | 3 |  |  | 16,194 |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 11,813 |  |  | 6,295 |  |  | 4,622 |  |  | 2,389 |  |  | 1,221 |  |  | 1,408 |  |  | 9,033 |  |  | 67 |  |  | 36,848 |
Special Mention | 145 |  |  | 236 |  |  | 255 |  |  | 302 |  |  | 29 |  |  | 69 |  |  | 203 |  |  | — |  |  | 1,239 |
Substandard | 155 |  |  | 347 |  |  | 614 |  |  | 332 |  |  | 195 |  |  | 207 |  |  | 454 |  |  | 4 |  |  | 2,308 |
Doubtful | 5 |  |  | 23 |  |  | 42 |  |  | 15 |  |  | 1 |  |  | 18 |  |  | 103 |  |  | — |  |  | 207 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 135 |  |  | — |  |  | 135 |
Total commercial and industrial | 12,118 |  |  | 6,901 |  |  | 5,533 |  |  | 3,038 |  |  | 1,446 |  |  | 1,702 |  |  | 9,928 |  |  | 71 |  |  | 40,737 |
Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 739 |  |  | 506 |  |  | 300 |  |  | 147 |  |  | 96 |  |  | 46 |  |  | — |  |  | — |  |  | 1,834 |
Special Mention | 13 |  |  | 17 |  |  | 29 |  |  | 5 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 68 |
Substandard | 21 |  |  | 29 |  |  | 23 |  |  | 13 |  |  | 9 |  |  | 8 |  |  | — |  |  | — |  |  | 103 |
Doubtful | 1 |  |  | 3 |  |  | 2 |  |  | 2 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 9 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total leases | 774 |  |  | 555 |  |  | 354 |  |  | 167 |  |  | 110 |  |  | 54 |  |  | — |  |  | — |  |  | 2,014 |
Global fund banking |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 892 |  |  | 179 |  |  | 147 |  |  | 20 |  |  | 14 |  |  | 12 |  |  | 26,588 |  |  | 36 |  |  | 27,888 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | 5 |  |  | 8 |  |  | 2 |  |  | — |  |  | 1 |  |  | — |  |  | 16 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total global fund banking | 892 |  |  | 179 |  |  | 152 |  |  | 28 |  |  | 16 |  |  | 12 |  |  | 26,589 |  |  | 36 |  |  | 27,904 |
Investor dependent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,135 |  |  | 640 |  |  | 352 |  |  | 37 |  |  | — |  |  | — |  |  | 315 |  |  | 3 |  |  | 2,482 |
Special Mention | 17 |  |  | 28 |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 26 |  |  | — |  |  | 77 |
Substandard | 122 |  |  | 173 |  |  | 164 |  |  | 31 |  |  | 1 |  |  | — |  |  | 61 |  |  | — |  |  | 552 |
Doubtful | 26 |  |  | 19 |  |  | 28 |  |  | 5 |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 82 |
Ungraded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total investor dependent | 1,300 |  |  | 860 |  |  | 550 |  |  | 73 |  |  | 1 |  |  | — |  |  | 406 |  |  | 3 |  |  | 3,193 |
Total commercial | $ | 21,843 |  |  | $ | 16,125 |  |  | $ | 14,108 |  |  | $ | 8,457 |  |  | $ | 5,781 |  |  | $ | 8,104 |  |  | $ | 37,432 |  |  | $ | 143 |  |  | $ | 111,993 |
Consumer Loans - Delinquency Status by Class
December 31, 2024
Days Past Due: | Term Loans by Origination Year |  |  |  | Revolving Converted to Term Loans |  |
dollars in millions | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 & Prior |  | Revolving |  |  | Total
Residential mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | $ | 2,178 |  |  | $ | 2,968 |  |  | $ | 5,264 |  |  | $ | 5,148 |  |  | $ | 2,913 |  |  | $ | 4,353 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 22,828 |
30-59 days | 3 |  |  | 13 |  |  | 19 |  |  | 23 |  |  | 31 |  |  | 95 |  |  | — |  |  | — |  |  | 184 |
60-89 days | 1 |  |  | 3 |  |  | 5 |  |  | 2 |  |  | 2 |  |  | 28 |  |  | — |  |  | — |  |  | 41 |
90 days or greater | — |  |  | 4 |  |  | 6 |  |  | 7 |  |  | 9 |  |  | 73 |  |  | — |  |  | — |  |  | 99 |
Total residential mortgage | 2,182 |  |  | 2,988 |  |  | 5,294 |  |  | 5,180 |  |  | 2,955 |  |  | 4,549 |  |  | 4 |  |  | — |  |  | 23,152 |
Revolving mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,420 |  |  | 108 |  |  | 2,528 |
30-59 days | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16 |  |  | 6 |  |  | 22 |
60-89 days | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 5 |  |  | 6 |
90 days or greater | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 8 |  |  | 11 |
Total revolving mortgage | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,440 |  |  | 127 |  |  | 2,567 |
Consumer auto |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 617 |  |  | 358 |  |  | 277 |  |  | 155 |  |  | 68 |  |  | 27 |  |  | — |  |  | — |  |  | 1,502 |
30-59 days | 3 |  |  | 3 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 13 |
60-89 days | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
90 days or greater | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
Total consumer auto | 622 |  |  | 363 |  |  | 282 |  |  | 159 |  |  | 69 |  |  | 28 |  |  | — |  |  | — |  |  | 1,523 |
Consumer other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 147 |  |  | 144 |  |  | 99 |  |  | 30 |  |  | 6 |  |  | 18 |  |  | 531 |  |  | — |  |  | 975 |
30-59 days | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 3 |  |  | — |  |  | 5 |
60-89 days | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 3 |
90 days or greater | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 2 |  |  | — |  |  | 3 |
Total consumer other | 148 |  |  | 144 |  |  | 100 |  |  | 30 |  |  | 6 |  |  | 20 |  |  | 538 |  |  | — |  |  | 986 |
Total consumer | $ | 2,952 |  |  | $ | 3,495 |  |  | $ | 5,676 |  |  | $ | 5,369 |  |  | $ | 3,030 |  |  | $ | 4,597 |  |  | $ | 2,982 |  |  | $ | 127 |  |  | $ | 28,228 |
Gross Charge-offs Gross charge-off disclosures by origination year and loan class are summarized in the following tables:
Nine Months Ended September 30, 2025
| Term Loans by Origination Year |  |  |  | Revolving Converted to Term Loans |  |
dollars in millions | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 & Prior |  | Revolving |  |  | Total
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial construction | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Owner occupied commercial mortgage | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 3 |
Non-owner occupied commercial mortgage | 4 |  |  | 23 |  |  | 3 |  |  | 20 |  |  | — |  |  | 32 |  |  | — |  |  | — |  |  | 82 |
Commercial and industrial | 28 |  |  | 20 |  |  | 51 |  |  | 44 |  |  | 9 |  |  | 3 |  |  | 191 |  |  | 1 |  |  | 347 |
Leases | 2 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 1 |  |  | 3 |  |  | — |  |  | — |  |  | 15 |
Investor dependent | — |  |  | 14 |  |  | 30 |  |  | 28 |  |  | 7 |  |  | 4 |  |  | 9 |  |  | — |  |  | 92 |
Total commercial | 34 |  |  | 62 |  |  | 87 |  |  | 96 |  |  | 17 |  |  | 43 |  |  | 200 |  |  | 1 |  |  | 540 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | — |  |  | 6 |
Consumer auto | — |  |  | 2 |  |  | 2 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 6 |
Consumer other | — |  |  | 1 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 15 |
Total consumer | — |  |  | 3 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | 6 |  |  | 12 |  |  | — |  |  | 27 |
Total loans and leases | $ | 34 |  |  | $ | 65 |  |  | $ | 90 |  |  | $ | 98 |  |  | $ | 18 |  |  | $ | 49 |  |  | $ | 212 |  |  | $ | 1 |  |  | $ | 567 |
Nine Months Ended September 30, 2024
| Term Loans by Origination Year |  |  |  | Revolving Converted to Term Loans |  |
dollars in millions | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 & Prior |  | Revolving |  |  | Total
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied commercial mortgage | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |
Non-owner occupied commercial mortgage | — |  |  | — |  |  | — |  |  | — |  |  | 19 |  |  | 70 |  |  | — |  |  | — |  |  | 89 |
Commercial and industrial | 8 |  |  | 35 |  |  | 65 |  |  | 15 |  |  | 4 |  |  | 10 |  |  | 50 |  |  | 1 |  |  | 188 |
Leases | 1 |  |  | 4 |  |  | 4 |  |  | 4 |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | 17 |
Investor dependent | — |  |  | 37 |  |  | 63 |  |  | 27 |  |  | 3 |  |  | 4 |  |  | 7 |  |  | — |  |  | 141 |
Total commercial | 9 |  |  | 76 |  |  | 132 |  |  | 46 |  |  | 28 |  |  | 94 |  |  | 57 |  |  | 1 |  |  | 443 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Consumer auto | — |  |  | 2 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
Consumer other | — |  |  | 1 |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |  |  | 12 |  |  | — |  |  | 16 |
Total consumer | — |  |  | 3 |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |  |  | 12 |  |  | — |  |  | 21 |
Total loans and leases | $ | 9 |  |  | $ | 79 |  |  | $ | 134 |  |  | $ | 48 |  |  | $ | 28 |  |  | $ | 96 |  |  | $ | 69 |  |  | $ | 1 |  |  | $ | 464 |
Loan Modifications for Borrowers Experiencing Financial Difficulties As part of BancShares’ ongoing credit risk management practices, BancShares attempts to work with borrowers when necessary to extend or modify loan terms to better align with the borrowers’ current ability to repay. BancShares’ modifications granted to debtors experiencing financial difficulties typically take the form of term extensions, interest rate reductions, payment delays, principal forgiveness, or a combination thereof. Modifications are made in accordance with internal policies and guidelines to conform to regulatory guidance. The following tables present the amortized cost of loan modifications made to debtors experiencing financial difficulty, disaggregated by class and type of loan modification. The tables also provide financial effects by type of such loan modifications for the respective loan class. Loan modifications for principal forgiveness round to less than $1 million for all loan classes in all periods presented and are not presented in the following tables. Amortized Cost of Loans Modified during the three months ended September 30, 2025
dollars in millions | Term Extension (1) |  | Payment Delay |  | Interest Rate Reduction |  | Term Extension (1) and Interest Rate Reduction |  | Term Extension (1) and Payment Delay |  | Other Combinations (2) |  | Total |  | Percent of Total Loan Class
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial construction | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | 15 |  |  | 0.24 | %
Owner occupied commercial mortgage | 8 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 0.07 |
Non-owner occupied commercial mortgage | 61 |  |  | 9 |  |  | — |  |  | 45 |  |  | — |  |  | — |  |  | 115 |  |  | 0.74 |
Commercial and industrial | 233 |  |  | 48 |  |  | — |  |  | 14 |  |  | 4 |  |  | 1 |  |  | 300 |  |  | 0.73 |
Investor dependent | 9 |  |  | 40 |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 53 |  |  | 1.92 |
Total commercial | 319 |  |  | 100 |  |  | — |  |  | 59 |  |  | 15 |  |  | 1 |  |  | 494 |  |  | 0.42 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 7 |  |  | — |  |  | 1 |  |  | — |  |  | 2 |  |  | — |  |  | 10 |  |  | 0.04 |
Total consumer | 7 |  |  | — |  |  | 1 |  |  | — |  |  | 2 |  |  | — |  |  | 10 |  |  | 0.04 |
Total loans and leases | $ | 326 |  |  | $ | 100 |  |  | $ | 1 |  |  | $ | 59 |  |  | $ | 17 |  |  | $ | 1 |  |  | $ | 504 |  |  | 0.35 | %
(1) Term extensions include modifications in which the balloon principal payment was deferred to a later date or the loan amortization period was extended. (2) Consists of $1 million of commercial and industrial loans modified with a term extension, payment delay, and interest rate reduction. Amortized Cost of Loans Modified during the three months ended September 30, 2024
dollars in millions | Term Extension (1) |  | Payment Delay |  | Interest Rate Reduction |  | Term Extension (1) and Interest Rate Reduction |  | Term Extension (1) and Payment Delay |  |  |  | Total |  | Percent of Total Loan Class
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied commercial mortgage | $ | 15 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  |  |  | $ | 24 |  |  | 0.15 | %
Non-owner occupied commercial mortgage | 30 |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  |  |  | 36 |  |  | 0.22 |
Commercial and industrial | 140 |  |  | — |  |  | — |  |  | 3 |  |  | 1 |  |  |  |  | 144 |  |  | 0.36 |
Investor dependent | 6 |  |  | 34 |  |  | — |  |  | — |  |  | 8 |  |  |  |  | 48 |  |  | 1.37 |
Total commercial | 191 |  |  | 41 |  |  | — |  |  | 11 |  |  | 9 |  |  |  |  | 252 |  |  | 0.23 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  |  |  | 2 |  |  | 0.01 |
Revolving mortgage | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 1 |  |  | 0.05 |
Total consumer | 2 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  |  |  | 3 |  |  | 0.01 |
Total loans and leases | $ | 193 |  |  | $ | 41 |  |  | $ | — |  |  | $ | 12 |  |  | $ | 9 |  |  |  |  | $ | 255 |  |  | 0.18 | %
(1) Term extensions include modifications in which the balloon principal payment was deferred to a later date or the loan amortization period was extended. Financial Effects of Loan Modifications made during the three months ended September 30, 2025
dollars in millions | Weighted Average Term Extension (in Months) |  | Weighted Average Interest Rate Reduction |  | Weighted Average Payment Delay (in Months) |  |
Commercial |  |  |  |  |  |  |
Commercial construction | 8 |  |  | — | % |  | 7 |  |  |
Owner occupied commercial mortgage | 13 |  |  | — |  |  | 6 |  |  |
Non-owner occupied commercial mortgage | 9 |  |  | 0.52 |  |  | 36 |  |  |
Commercial and industrial | 15 |  |  | 1.05 |  |  | 12 |  |  |
Leases | 60 |  |  | — |  |  | — |  |  |
Investor dependent | 11 |  |  | — |  |  | 6 |  |  |
Total commercial | 13 |  |  | 0.65 |  |  | 11 |  |  |
Consumer |  |  |  |  |  |  |
Residential mortgage | 21 |  |  | 1.52 |  |  | 8 |  |  |
Revolving mortgage | 58 |  |  | 4.36 |  |  | — |  |  |
Consumer auto | 18 |  |  | — |  |  | — |  |  |
Consumer other | 60 |  |  | 11.41 |  |  | — |  |  |
Total consumer | 24 |  |  | 3.01 |  |  | 8 |  |  |
Total loans and leases | 13 |  |  | 0.71 | % |  | 11 |  |  |
Financial Effects of Loan Modifications made during the three months ended September 30, 2024
dollars in millions | Weighted Average Term Extension (in Months) |  | Weighted Average Interest Rate Reduction |  | Weighted Average Payment Delay (in Months) |  |
Commercial |  |  |  |  |  |  |
Commercial construction | 36 |  |  | 0.60 | % |  | — |  |  |
Owner occupied commercial mortgage | 17 |  |  | 1.82 |  |  | 6 |  |  |
Non-owner occupied commercial mortgage | 7 |  |  | — |  |  | 6 |  |  |
Commercial and industrial | 15 |  |  | 2.61 |  |  | 6 |  |  |
Leases | 11 |  |  | — |  |  | — |  |  |
Investor dependent | 9 |  |  | — |  |  | 6 |  |  |
Total commercial | 14 |  |  | 2.03 |  |  | 6 |  |  |
Consumer |  |  |  |  |  |  |
Residential mortgage | 47 |  |  | 2.07 |  |  | 11 |  |  |
Revolving mortgage | 60 |  |  | 5.42 |  |  | — |  |  |
Consumer auto | 31 |  |  | — |  |  | — |  |  |
Consumer other | 60 |  |  | 10.54 |  |  | — |  |  |
Total consumer | 52 |  |  | 3.29 |  |  | 11 |  |  |
Total loans and leases | 14 |  |  | 2.19 | % |  | 6 |  |  |
Note: The financial effects of loan modifications for certain loan classes reported in the tables above were not reported in the preceding tables as the total amortized cost of loans modified during the period for such loan classes rounded to less than $1 million. Amortized Cost of Loans Modified during the nine months ended September 30, 2025
dollars in millions | Term Extension (1) |  | Payment Delay |  | Interest Rate Reduction |  | Term Extension (1) and Interest Rate Reduction |  | Term Extension (1) and Payment Delay |  | Other Combinations (2) |  | Total |  | Percent of Total Loan Class
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial construction | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 15 |  |  | $ | — |  |  | $ | 23 |  |  | 0.38 | %
Owner occupied commercial mortgage | 11 |  |  | 5 |  |  | — |  |  | 29 |  |  | 22 |  |  | — |  |  | 67 |  |  | 0.39 |
Non-owner occupied commercial mortgage | 120 |  |  | 9 |  |  | — |  |  | 109 |  |  | 23 |  |  | — |  |  | 261 |  |  | 1.67 |
Commercial and industrial | 267 |  |  | 124 |  |  | — |  |  | 16 |  |  | 13 |  |  | 6 |  |  | 426 |  |  | 1.03 |
Investor dependent | 15 |  |  | 59 |  |  | — |  |  | — |  |  | 10 |  |  | — |  |  | 84 |  |  | 3.04 |
Total commercial | 421 |  |  | 197 |  |  | — |  |  | 154 |  |  | 83 |  |  | 6 |  |  | 861 |  |  | 0.74 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 15 |  |  | — |  |  | 1 |  |  | 2 |  |  | 25 |  |  | — |  |  | 43 |  |  | 0.18 |
Revolving mortgage | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 2 |  |  | 0.07 |
Total consumer | 16 |  |  | — |  |  | 1 |  |  | 3 |  |  | 25 |  |  | — |  |  | 45 |  |  | 0.16 |
Total loans and leases | $ | 437 |  |  | $ | 197 |  |  | $ | 1 |  |  | $ | 157 |  |  | $ | 108 |  |  | $ | 6 |  |  | $ | 906 |  |  | 0.63 | %
(1) Term extensions include modifications in which the balloon principal payment was deferred to a later date or the loan amortization period was extended. (2) Consists of $6 million of commercial and industrial loans modified with a term extension, payment delay, and interest rate reduction. Amortized Cost of Loans Modified during the nine months ended September 30, 2024
dollars in millions | Term Extension (1) |  | Payment Delay |  | Interest Rate Reduction |  | Term Extension (1) and Interest Rate Reduction |  | Term Extension (1) and Payment Delay |  | Other Combinations (2) |  | Total |  | Percent of Total Loan Class
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial construction | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | 0.06 | %
Owner occupied commercial mortgage | 36 |  |  | 1 |  |  | 4 |  |  | 9 |  |  | 9 |  |  | — |  |  | 59 |  |  | 0.36 |
Non-owner occupied commercial mortgage | 108 |  |  | 6 |  |  | — |  |  | — |  |  | 26 |  |  | — |  |  | 140 |  |  | 0.88 |
Commercial and industrial | 191 |  |  | 91 |  |  | 31 |  |  | 12 |  |  | 1 |  |  | — |  |  | 326 |  |  | 0.81 |
Investor dependent | 7 |  |  | 78 |  |  | — |  |  | — |  |  | 33 |  |  | 1 |  |  | 119 |  |  | 3.32 |
Total commercial | 345 |  |  | 176 |  |  | 35 |  |  | 21 |  |  | 69 |  |  | 1 |  |  | 647 |  |  | 0.59 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 7 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 8 |  |  | 0.04 |
Revolving mortgage | 4 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 5 |  |  | 0.20 |
Total consumer | 11 |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 13 |  |  | 0.05 |
Total loans and leases | $ | 356 |  |  | $ | 176 |  |  | $ | 35 |  |  | $ | 23 |  |  | $ | 69 |  |  | $ | 1 |  |  | $ | 660 |  |  | 0.48 | %
(1) Term extensions include modifications in which the balloon principal payment was deferred to a later date or the loan amortization period was extended. (2) Consists of $1 million of investor dependent loans modified with a term extension, interest rate reduction, and payment delay. Financial Effects of Loan Modifications made during the nine months ended September 30, 2025
| Weighted Average Term Extension (in Months) |  | Weighted Average Interest Rate Reduction |  | Weighted Average Payment Delay (in Months) |  |
Commercial |  |  |  |  |  |  |
Commercial construction | 7 |  |  | — | % |  | 6 |  |  |
Owner occupied commercial mortgage | 11 |  |  | 1.93 |  |  | 5 |  |  |
Non-owner occupied commercial mortgage | 17 |  |  | 0.56 |  |  | 14 |  |  |
Commercial and industrial | 14 |  |  | 1.31 |  |  | 12 |  |  |
Leases | 60 |  |  | — |  |  | — |  |  |
Investor dependent | 9 |  |  | — |  |  | 7 |  |  |
Total commercial | 15 |  |  | 0.91 |  |  | 10 |  |  |
Consumer |  |  |  |  |  |  |
Residential mortgage | 14 |  |  | 1.21 |  |  | 6 |  |  |
Revolving mortgage | 48 |  |  | 4.04 |  |  | 5 |  |  |
Consumer auto | 19 |  |  | — |  |  | — |  |  |
Consumer other | 60 |  |  | 9.93 |  |  | — |  |  |
Total consumer | 16 |  |  | 2.39 |  |  | 6 |  |  |
Total loans and leases | 15 |  |  | 0.95 | % |  | 10 |  |  |
Financial Effects of Loan Modifications made during the nine months ended September 30, 2024
| Weighted Average Term Extension (in Months) |  | Weighted Average Interest Rate Reduction |  | Weighted Average Payment Delay (in Months) |  |
Commercial |  |  |  |  |  |  |
Commercial construction | 15 |  |  | 0.60 | % |  | — |  |  |
Owner occupied commercial mortgage | 28 |  |  | 1.67 |  |  | 18 |  |  |
Non-owner occupied commercial mortgage | 20 |  |  | — |  |  | 40 |  |  |
Commercial and industrial | 15 |  |  | 0.71 |  |  | 12 |  |  |
Leases | 11 |  |  | — |  |  | 6 |  |  |
Investor dependent | 11 |  |  | 2.75 |  |  | 8 |  |  |
Total commercial | 18 |  |  | 0.96 |  |  | 14 |  |  |
Consumer |  |  |  |  |  |  |
Residential mortgage | 70 |  |  | 2.09 |  |  | 11 |  |  |
Revolving mortgage | 60 |  |  | 4.73 |  |  | — |  |  |
Consumer auto | 29 |  |  | 0.26 |  |  | — |  |  |
Consumer other | 57 |  |  | 9.65 |  |  | — |  |  |
Total consumer | 66 |  |  | 3.41 |  |  | 11 |  |  |
Total loans and leases | 19 |  |  | 1.07 | % |  | 14 |  |  |
Note: The financial effects of loan modifications for certain loan classes reported in the tables above were not reported in the preceding tables as the total amortized cost of loans modified during the period for such loan classes rounded to less than $1 million. Borrowers experiencing financial difficulties are typically identified in our credit risk management process before loan modifications occur. An assessment of whether a borrower is experiencing financial difficulty is reassessed or performed on the date of a modification. Since the effect of most modifications made to borrowers experiencing financial difficulty is already included in the ALLL because of the measurement methodologies used to estimate the ALLL, a change to the ALLL is generally not recorded upon modification. Upon BancShares’ determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off. At September 30, 2025, there were $113 million of loans modified in the twelve months ended September 30, 2025, which defaulted subsequent to modification. The following tables present the amortized cost and performance of loans to borrowers experiencing financial difficulties for which the terms of the loan were modified during the referenced periods. The period of delinquency is based on the number of days the scheduled payment is contractually past due. Modified Loans Payment Status (twelve months ended September 30, 2025)
dollars in millions | Current |  | 30–59 Days Past Due |  | 60–89 Days Past Due |  | 90 Days or Greater Past Due |  | Total
Commercial |  |  |  |  |  |  |  |  |
Commercial construction | $ | 22 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 23 |
Owner occupied commercial mortgage | 74 |  |  | 1 |  |  | — |  |  | 9 |  |  | 84 |
Non-owner occupied commercial mortgage | 241 |  |  | 4 |  |  | 1 |  |  | 60 |  |  | 306 |
Commercial and industrial | 404 |  |  | 2 |  |  | 1 |  |  | 24 |  |  | 431 |
Investor dependent | 90 |  |  | — |  |  | — |  |  | 1 |  |  | 91 |
Total commercial | 831 |  |  | 8 |  |  | 2 |  |  | 94 |  |  | 935 |
Consumer |  |  |  |  |  |  |  |  |
Residential mortgage | 35 |  |  | 3 |  |  | 3 |  |  | 6 |  |  | 47 |
Revolving mortgage | 7 |  |  | — |  |  | — |  |  | — |  |  | 7 |
Total consumer | 42 |  |  | 3 |  |  | 3 |  |  | 6 |  |  | 54 |
Total loans and leases | $ | 873 |  |  | $ | 11 |  |  | $ | 5 |  |  | $ | 100 |  |  | $ | 989 |
Modified Loans Payment Status (twelve months ended September 30, 2024)
dollars in millions | Current |  | 30–59 Days Past Due |  | 60–89 Days Past Due |  | 90 Days or Greater Past Due |  | Total
Commercial |  |  |  |  |  |  |  |  |
Commercial construction | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |
Owner occupied commercial mortgage | 50 |  |  | — |  |  | 9 |  |  | 2 |  |  | 61 |
Non-owner occupied commercial mortgage | 156 |  |  | 1 |  |  | — |  |  | 16 |  |  | 173 |
Commercial and industrial | 346 |  |  | 1 |  |  | — |  |  | 2 |  |  | 349 |
Investor dependent | 127 |  |  | — |  |  | — |  |  | 1 |  |  | 128 |
Total commercial | 682 |  |  | 2 |  |  | 9 |  |  | 21 |  |  | 714 |
Consumer |  |  |  |  |  |  |  |  |
Residential mortgage | 9 |  |  | 1 |  |  | 2 |  |  | 4 |  |  | 16 |
Revolving mortgage | 6 |  |  | — |  |  | — |  |  | — |  |  | 6 |
Total consumer | 15 |  |  | 1 |  |  | 2 |  |  | 4 |  |  | 22 |
Total loans and leases | $ | 697 |  |  | $ | 3 |  |  | $ | 11 |  |  | $ | 25 |  |  | $ | 736 |
At September 30, 2025, there were $17 million of commitments to lend additional funds to debtors experiencing financial difficulty for which the terms of the loan were modified during the nine months ended September 30, 2025. At December 31, 2024, there were $55 million of commitments to lend additional funds to debtors experiencing financial difficulty for which the terms of the loan were modified during the year ended December 31, 2024. Loans Pledged The following table provides information regarding loans pledged as collateral for borrowing capacity through the FHLB of Atlanta, the Federal Reserve Bank (“FRB”) and FDIC. Loans Pledged
dollars in millions | September 30, 2025 |  | December 31, 2024
FHLB of Atlanta |  |  |
Lendable collateral value of pledged non-PCD loans | $ | 19,472 |  |  | $ | 17,873 |
Less: advances | — |  |  | — |
Less: letters of credit | 1,450 |  |  | 1,450 |
Available borrowing capacity | $ | 18,022 |  |  | $ | 16,423 |
Pledged non-PCD loans | $ | 31,945 |  |  | $ | 30,421 |
FRB |  |  |
Lendable collateral value of pledged non-PCD loans | $ | 13,328 |  |  | $ | 5,475 |
Less: advances | — |  |  | — |
Available borrowing capacity | $ | 13,328 |  |  | $ | 5,475 |
Pledged non-PCD loans | $ | 13,804 |  |  | $ | 6,309 |
FDIC |  |  |
Lendable collateral value of pledged loans | $ | 36,228 |  |  | $ | 41,282 |
Less: advances | — |  |  | — |
Less: Purchase Money Note | 35,991 |  |  | 35,991 |
Available borrowing capacity (1) | $ | — |  |  | $ | 5,291 |
Pledged loans (1) | $ | 34,860 |  |  | $ | 41,040 |
(1) The draw period ended on March 27, 2025, therefore there is no available borrowing capacity at September 30, 2025. Loans remain pledged as collateral for the Purchase Money Note. As a member of the FHLB, FCB can access financing based on an evaluation of its creditworthiness, statement of financial position, size and eligibility of collateral. FCB may at any time grant a security interest in, sell, convey or otherwise dispose of any of the assets used for collateral, provided that FCB is in compliance with the collateral maintenance requirement immediately following such disposition. There were no outstanding advances from the FHLB at September 30, 2025 or December 31, 2024. Under borrowing arrangements with the FRB, BancShares has access to the FRB Discount Window on a secured basis. There were no outstanding borrowings with the FRB Discount Window at September 30, 2025 or December 31, 2024. In connection with the SVBB Acquisition, FCB and the FDIC entered into financing agreements, including the five-year Purchase Money Note, and the Advance Facility Agreement, which allowed for advances through March 27, 2025. There were no amounts outstanding at the end of the draw period of the facility on March 27, 2025. Refer to Note 2—Business Combinations for further discussion of these agreements and Note 9—Borrowings for the outstanding carrying value of the Purchase Money Note.

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-44 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-20/tableOfContent + Details
Name: | us-gaap_FinancingReceivablesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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