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VARIABLE INTEREST ENTITIES | 12 Months Ended
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Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
VARIABLE INTEREST ENTITIES | NOTE 10 — VARIABLE INTEREST ENTITIES Unconsolidated VIEs Unconsolidated VIEs include limited partnership interests and joint ventures. The table below provides a summary of the assets and liabilities included on the Consolidated Balance Sheets associated with unconsolidated VIEs. The maximum exposure to loss for unconsolidated VIEs is generally limited to the sum of the unconsolidated VIE investment balance and off-balance sheet funding commitments. The maximum exposure to loss represents potential losses that would be incurred under hypothetical circumstances, such that the value of BancShares’ interests and any associated collateral declines to zero and assuming no recovery. BancShares believes the possibility is remote under this hypothetical scenario; accordingly, this disclosure is not an indication of expected loss. Refer to Note 22—Commitments and Contingencies for off-balance sheet commitments to fund other tax credit investments and other unconsolidated investments. Unconsolidated VIEs Carrying Value and Liabilities for Funding Commitments
dollars in millions | December 31, 2025 |  | December 31, 2024
Affordable housing tax credit investments | $ | 2,761 |  |  | $ | 2,357 |
Other tax credit investments | — |  |  | 2 |
Total tax credit equity investments | $ | 2,761 |  |  | $ | 2,359 |
Other unconsolidated investments | 194 |  |  | 157 |
Total unconsolidated VIE investments (1) | $ | 2,955 |  |  | $ | 2,516 |
Liabilities for commitments to fund tax credit investments (2) | $ | 1,321 |  |  | $ | 1,214 |
(1) Included in other assets. (2) Represents commitments to invest in qualified affordable housing investments. These commitments are payable on demand and included in other liabilities. The table below summarizes the tax benefits, recognized in income tax expense on the Consolidated Statements of Income, for the affordable housing tax credit investments accounted for under the PAM. Tax Benefits - PAM
dollars in millions |  |  | Year Ended December 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
Amortization of affordable housing tax credit investments (1) |  |  |  |  | $ | 264 |  |  | $ | 237 |  |  | $ | 169 |
Tax credits from affordable housing tax credit investments |  |  |  |  | (263) |  |  | (231) |  |  | (157) |
Other tax benefits from affordable housing tax credit investments |  |  |  |  | (73) |  |  | (56) |  |  | (29) |
Net income tax benefit from affordable housing tax credit investments (2) |  |  |  |  | $ | (72) |  |  | $ | (50) |  |  | $ | (17) |
(1) Amortization is included in depreciation, amortization, and accretion, net, in cash flows from operating activities on the Consolidated Statements of Cash Flows. (2) The net income tax benefit is included in cash flows from operating activities on the Consolidated Statements of Cash Flows. Changes in income taxes payable are reported in net change in other liabilities in cash flows from operating activities on the Consolidated Statements of Cash Flows. Other Tax Credit Investments During 2025, we received approximately $190 million of tax credits related to renewable energy tax credit investments accounted for under the HLBVM and Deferral Method. Refer to Note 1—Significant Accounting Policies and Basis of Presentation for further discussion of the PAM, HLBVM, and Deferral Method.

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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