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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2025
Retirement Benefits [Abstract] |
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan | The following table provides the changes in benefit obligations, assets and the funded status of the Retirement Plans at December 31, 2025 and 2024. Obligations and Funded Status
dollars in millions | Retirement Plans
| 2025 |  | 2024
Change in benefit obligation |  |  |
Projected benefit obligation at January 1 | $ | 1,140 |  |  | $ | 1,169 |
Service cost | 8 |  |  | 10 |
Interest cost | 63 |  |  | 59 |
Actuarial loss (gain) | 18 |  |  | (30) |
Benefits paid | (70) |  |  | (68) |
Projected benefit obligation at December 31 | 1,159 |  |  | 1,140 |
Change in plan assets |  |  |
Fair value of plan assets at January 1 | 1,648 |  |  | 1,589 |
Actual return on plan assets | 212 |  |  | 121 |
Employer contributions (1) | 6 |  |  | 6 |
Benefits paid | (70) |  |  | (68) |
Fair value of plan assets at December 31 | 1,796 |  |  | 1,648 |
Funded status at December 31 | $ | 637 |  |  | $ | 508 |
Information for retirement plans with a benefit obligation in excess of plan assets |  |  |
Projected and accumulated benefit obligations | $ | 48 |  |  | $ | 49 |
Reported in Consolidated Balance Sheets |  |  |
Funded Pension Plans (other assets) | 685 |  |  | 557 |
Unfunded Supplemental and Executive Retirement Plans (other liabilities) | (48) |  |  | (49) |
Net funded status of Retirement Plans | $ | 637 |  |  | $ | 508 |
(1) Represents contributions to cover benefits paid for unfunded Supplemental and Executive Retirement Plans.
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | The following table includes the amounts recognized in AOCI, before income taxes, at December 31, 2025 and 2024. Refer to Note 16—Accumulated Other Comprehensive (Loss) Income for additional information.
dollars in millions | Retirement Plans
| 2025 |  | 2024
Net actuarial gain | $ | 282 |  |  | $ | 182 |
Schedule of Net Benefit Costs | The following table shows the components of periodic benefit cost related to the Retirement Plans and changes in assets and benefit obligations of the Retirement Plans recognized in other comprehensive income, before income taxes, for the years ended December 31, 2025, 2024 and 2023. Refer to Note 16—Accumulated Other Comprehensive (Loss) Income for additional information. Net Periodic Benefit Costs and Other Amounts
dollars in millions | Retirement Plans |  |
| Year Ended December 31 |  |
| 2025 |  | 2024 |  | 2023 |  |  |  |
Service cost | $ | 8 |  |  | $ | 10 |  |  | $ | 9 |  |  |  |  |
Interest cost | 63 |  |  | 59 |  |  | 61 |  |  |  |  |
Expected return on assets | (94) |  |  | (91) |  |  | (85) |  |  |  |  |
Total net periodic benefit | (23) |  |  | (22) |  |  | (15) |  |  |  |  |
Actuarial gain recognized in other comprehensive income | (100) |  |  | (60) |  |  | (109) |  |  |  |  |
Total recognized in net periodic benefit cost and other comprehensive income | $ | (123) |  |  | $ | (82) |  |  | $ | (124) |  |  |  |  |
Defined Benefit Plan, Assumptions | The weighted average assumptions (as of the end of each year) used to determine the benefit obligations at December 31, 2025 and 2024 are as follows: Weighted Average Assumptions
| Retirement Plans |  |
| 2025 |  | 2024 |  |  |  |
Discount rate | 5.57 | % |  | 5.69 | % |  |  |  |
Rate of compensation increase | 4.60 |  |  | 4.60 |  |  |  |  |
Interest crediting rate (1) | 4.25 |  |  | 4.50 |  |  |  |  |
(1) Specific to cash investments in the CIT Pension Plan. The weighted average assumptions (as of the beginning of each year) used to determine the net periodic benefit cost for the years ended December 31, 2025, 2024 and 2023, are as follows: Weighted Average Assumptions
| Retirement Plans |  |
| 2025 |  | 2024 |  | 2023 |  |  |  |  |  |
Discount rate | 5.69 | % |  | 5.17 | % |  | 5.57 | % |  |  |  |  |  |
Rate of compensation increase | 4.60 |  |  | 5.60 |  |  | 5.60 |  |  |  |  |  |  |
Expected long-term return on plan assets | 6.20 |  |  | 6.18 |  |  | 6.14 |  |  |  |  |  |  |
Interest crediting rate (1) | 4.50 |  |  | 4.00 |  |  | 4.25 |  |  |  |  |  |  |
(1) Specific to cash investments in the CIT Pension Plan.
Schedule of Allocation of Plan Assets | The following tables summarize the fair values and fair value hierarchy for the assets of the Pension Plans at December 31, 2025 and 2024. Fair Value Measurements
dollars in millions | December 31, 2025
| Market Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Not Classified (1) |  | Weighted Average Target Allocation Pension Plans |  | Actual % of Plans' Assets
Cash and equivalents | $ | 68 |  |  | $ | 68 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | —% - 5% |  | 4 | %
Equity securities |  |  |  |  |  |  |  |  |  |  | 25% - 65% |  | 45 | %
Common and preferred stock | 363 |  |  | 363 |  |  | — |  |  | — |  |  | — |  |  |  |  |
Mutual funds | 221 |  |  | 221 |  |  | — |  |  | — |  |  | — |  |  |  |  |
Exchange traded funds | 223 |  |  | 223 |  |  | — |  |  | — |  |  | — |  |  |  |  |
Fixed income |  |  |  |  |  |  |  |  |  |  | 30% - 65% |  | 46 | %
U.S. government and government agency securities | 4 |  |  | — |  |  | 4 |  |  | — |  |  | — |  |  |  |  |
Corporate bonds | 4 |  |  | — |  |  | 4 |  |  | — |  |  | — |  |  |  |  |
Collective investment funds (fixed income) | 825 |  |  | — |  |  | — |  |  | — |  |  | 825 |  |  |  |  |
Alternative investments |  |  |  |  |  |  |  |  |  |  | —% - 30% |  | 5 | %
Limited partnerships | 88 |  |  | — |  |  | — |  |  | — |  |  | 88 |  |  |  |  |
Total pension assets | $ | 1,796 |  |  | $ | 875 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 913 |  |  |  |  | 100 | %
| December 31, 2024
| Market Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Not Classified (1) |  | Weighted Average Target Allocation Pension Plans |  | Actual % of Plans' Assets
Cash and equivalents | $ | 56 |  |  | $ | 56 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | —% - 5% |  | 3 | %
Equity securities |  |  |  |  |  |  |  |  |  |  | 25% - 65% |  | 48 | %
Common and preferred stock | 145 |  |  | 145 |  |  | — |  |  | — |  |  | — |  |  |  |  |
Mutual funds | 182 |  |  | 182 |  |  | — |  |  | — |  |  | — |  |  |  |  |
Exchange traded funds | 458 |  |  | 458 |  |  | — |  |  | — |  |  | — |  |  |  |  |
Fixed income |  |  |  |  |  |  |  |  |  |  | 30% - 65% |  | 45 | %
U.S. government and government agency securities | 7 |  |  | — |  |  | 7 |  |  | — |  |  | — |  |  |  |  |
Corporate bonds | 6 |  |  | — |  |  | 6 |  |  | — |  |  | — |  |  |  |  |
Collective investment funds (fixed income) | 736 |  |  | — |  |  | — |  |  | — |  |  | 736 |  |  |  |  |
Alternative investments |  |  |  |  |  |  |  |  |  |  | —% - 30% |  | 4 | %
Limited partnerships | 58 |  |  | — |  |  | — |  |  | — |  |  | 58 |  |  |  |  |
Total pension assets | $ | 1,648 |  |  | $ | 841 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 794 |  |  |  |  | 100 | %
(1) These investments have been measured using the NAV per share practical expedient and are not required to be classified in the above tables.
Schedule of Expected Benefit Payments | The following table presents estimated future benefits projected to be paid for the next ten years from the Pension Plans’ assets or from BancShares’ general assets calculated using current actuarial assumptions. Actual benefit payments may differ from projected benefit payments. Projected Benefits
dollars in millions | Retirement Plans
2026 | $ | 75 |
2027 | 79 |
2028 | 81 |
2029 | 84 |
2030 | 86 |
2031-2035 | 441 |
Deferred Compensation Arrangement, Schedule of Accrued Liabilities | The following table provides the accrued liability as of December 31, 2025 and 2024, and the changes in the accrued liability during the years then ended:
dollars in millions | 2025 |  | 2024
Accrued liability as of January 1 | $ | 33 |  |  | $ | 34 |
Benefit expense and interest cost | 2 |  |  | 3 |
Benefits paid | (3) |  |  | (4) |
Accrued liability as of December 31 | $ | 32 |  |  | $ | 33 |
Discount rate at December 31 | 4.68 | % |  | 4.86 | %
Schedule of Nonvested Restricted Stock Units Activity | The following table presents the vesting activity during 2024. There were no grants of stock-based compensation awards during 2025 or 2024 and there were no unvested awards as of December 31, 2025 and 2024, as 2024 was the last year of vesting. The fair value of RSUs that vested and settled in stock during 2024 were $31 million. Stock-Settled Awards Outstanding
share amounts in whole dollars | Stock-Settled Awards
| Number of Shares |  | Weighted Average Grant Date Value(1)
December 31, 2024 |  |  |
Unvested at beginning of period | 20,255 |  |  | $ | 859.76 |
Forfeited / cancelled | — |  |  | 859.76 |
Vested / settled awards | (20,255) |  |  | 859.76 |
Unvested at end of period | — |  |  | $ | 859.76 |
(1) Represents the share price of BancShares as of the CIT Merger Date.

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