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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Provision (Benefit) | The provision (benefit) for income taxes for the year ended December 31, 2025, 2024 and 2023 is comprised of the following: Provision (Benefit) for Income Taxes
dollars in millions | Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Current U.S. federal income tax provision | $ | 585 |  |  | $ | 649 |  |  | $ | 400 |
Deferred U.S. federal income tax (benefit) / provision | (38) |  |  | 68 |  |  | 46 |
Total federal income tax provision | 547 |  |  | 717 |  |  | 446 |
Current state and local income tax provision | 286 |  |  | 157 |  |  | 372 |
Deferred state and local income tax benefit | (79) |  |  | (71) |  |  | (222) |
Total state and local income tax provision | 207 |  |  | 86 |  |  | 150 |
Total non-U.S. income tax provision | 11 |  |  | 12 |  |  | 15 |
Total provision for income taxes | $ | 765 |  |  | $ | 815 |  |  | $ | 611 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation from the U.S. Federal statutory rate to BancShares’ actual effective income tax rate for the year ended December 31, 2025, 2024 and 2023 is presented below. Income tax expense (benefit) includes, if applicable, federal, state and foreign taxes: Effective Tax Rate Reconciliation
dollars in millions | Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Pretax income domestic | $ | 2,926 |  |  |  |  | $ | 3,551 |  |  |  |  | $ | 12,043 |  |  |
Pretax income foreign | 45 |  |  |  |  | 41 |  |  |  |  | 34 |  |  |
Total pretax income | $ | 2,971 |  |  |  |  | $ | 3,592 |  |  |  |  | $ | 12,077 |  |  |
US federal statutory income tax rate | $ | 624 |  |  | 21.0 | % |  | $ | 754 |  |  | 21.0 | % |  | $ | 2,536 |  |  | 21.0 | %
Domestic federal taxes |  |  |  |  |  |  |  |  |  |  |
Tax credits |  |  |  |  |  |  |  |  |  |  |
Low income housing | (44) |  |  | (1.5) |  |  | (29) |  |  | (0.8) |  |  | (17) |  |  | (0.1) |
Other | (26) |  |  | (0.9) |  |  | (16) |  |  | (0.4) |  |  | (6) |  |  | — |
Nontaxable and nondeductible items |  |  |  |  |  |  |  |  |  |  |
Gain on acquisition | — |  |  | — |  |  | — |  |  | — |  |  | (1,874) |  |  | (15.5) |
FDIC premiums | 36 |  |  | 1.2 |  |  | 24 |  |  | 0.7 |  |  | 23 |  |  | 0.2 |
Other | 4 |  |  | 0.1 |  |  | — |  |  | — |  |  | 2 |  |  | — |
Other | 3 |  |  | 0.1 |  |  | 3 |  |  | 0.1 |  |  | (7) |  |  | (0.1) |
Domestic state and local income taxes, net of federal effect | 149 |  |  | 5.0 |  |  | 33 |  |  | 0.9 |  |  | (51) |  |  | (0.4) |
Foreign tax effects | 2 |  |  | 0.1 |  |  | 2 |  |  | — |  |  | 5 |  |  | — |
Changes in unrecognized tax benefits | 17 |  |  | 0.6 |  |  | 44 |  |  | 1.2 |  |  | — |  |  | — |
Total effective tax rate | $ | 765 |  |  | 25.7 | % |  | $ | 815 |  |  | 22.7 | % |  | $ | 611 |  |  | 5.1 | %
Schedule Of State And Local Income Tax Jurisdictions | Jurisdictions which make up the majority of state and local income tax are as follows: State and Local Jurisdictions
Year Ended December 31,
2025 |  | 2024 |  | 2023
California |  | California |  | California
New York |  | New York |  | New York
New York City |  | North Carolina |  | Massachusetts
Schedule of Components of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to deferred income tax assets and liabilities at December 31, 2025 and 2024 are presented below: Components of Deferred Income Tax Assets and Liabilities
dollars in millions | December 31, 2025 |  | December 31, 2024
Deferred Tax Assets: |  |  |
Allowance for loan and lease losses | $ | 466 |  |  | $ | 500 |
Net unrealized loss on investment securities available for sale | 67 |  |  | 226 |
Deferred compensation | 129 |  |  | 128 |
Capitalized costs | 21 |  |  | 110 |
Lease liabilities | 77 |  |  | 84 |
Tax credits | 75 |  |  | 79 |
Net operating loss carry forwards | 67 |  |  | 76 |
Other | 104 |  |  | 112 |
Total gross deferred tax assets | 1,006 |  |  | 1,315 |
Deferred Tax Liabilities: |  |  |
Basis difference in loans | (1,886) |  |  | (2,243) |
Operating leases | (1,938) |  |  | (1,847) |
Loans and direct financing leases | (311) |  |  | (329) |
Pension assets | (161) |  |  | (129) |
Right of use assets for operating leases | (64) |  |  | (73) |
Other | (130) |  |  | (149) |
Total deferred tax liabilities | (4,490) |  |  | (4,770) |
Total net deferred tax liability before valuation allowances | (3,484) |  |  | (3,455) |
Less: valuation allowances | (17) |  |  | (17) |
Net deferred tax liability after valuation allowances | $ | (3,501) |  |  | $ | (3,472) |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of UTBs is as follows: Unrecognized Tax Benefits
| December 31, 2025 |  | December 31, 2024 |  | December 31, 2023
dollars in millions | Liabilities for Unrecognized Tax Benefits |  | Interest / Penalties |  | Total |  | Total |  | Total
Balance at beginning of period | $ | 77 |  |  | $ | 9 |  |  | $ | 86 |  |  | $ | 31 |  |  | $ | 30 |
Additions for tax positions related to current year | 4 |  |  | — |  |  | 4 |  |  | 8 |  |  | — |
Additions for tax positions related to prior years | 14 |  |  | 6 |  |  | 20 |  |  | 48 |  |  | 5 |
Reductions for tax positions of prior years | (17) |  |  | — |  |  | (17) |  |  | — |  |  | — |
Expiration of statutes of limitations | (2) |  |  | — |  |  | (2) |  |  | (1) |  |  | (2) |
Settlements | (1) |  |  | (1) |  |  | (2) |  |  | — |  |  | (2) |
Balance at end of period | $ | 75 |  |  | $ | 14 |  |  | $ | 89 |  |  | $ | 86 |  |  | $ | 31 |
Schedule of Income Tax Paid | Federal, state, and foreign income taxes paid, net of refunds, for the years ended December 31, 2025, 2024 and 2023 are presented in the following table: Cash Taxes Paid
dollars in millions | Year Ended December 31,
| 2025 |  | 2024 |  | 2023
U.S. federal | $ | 231 |  |  | $ | 207 |  |  | $ | 169 |
U.S. state and local |  |  |  |  |
New York | 26 |  |  | * |  | *
New York City | 24 |  |  | * |  | 27 |
California | * |  | 231 |  |  | 216 |
North Carolina | * |  | 47 |  |  | *
Massachusetts | * |  | 43 |  |  | 38 |
Illinois | * |  | 39 |  |  | *
Other | 31 |  |  | 194 |  |  | 63 |
Total U.S. state and local | 81 |  |  | 554 |  |  | 344 |
Foreign | 3 |  |  | 2 |  |  | 1 |
Total taxes paid | $ | 315 |  |  | $ | 763 |  |  | $ | 514 |
*Immaterial amounts not required to be disclosed and are reflected in “Other.”
Schedule of Income Tax Audits | The table below presents the earliest tax years that remain subject to examination by major jurisdiction.
Jurisdiction | December 31, 2025
U.S. Federal | 2022
New York State and City | 2015
North Carolina | 2016
California | 2017
Canada | 2018

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15 + Details
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