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PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Condensed Balance Sheet | The following tables present condensed stand-alone financial statements of the Parent Company:
Parent Company
Condensed Balance Sheets
dollars in millions | December 31, 2025 |  | December 31, 2024
Assets |  |  |
Cash and due from banks | $ | 466 |  |  | $ | 310 |
Interest-earning deposits at banks | 4 |  |  | 1 |
Investment in marketable equity securities | 119 |  |  | 99 |
Note receivable from banking subsidiary | — |  |  | 200 |
Investment in banking subsidiary | 23,371 |  |  | 21,932 |
Investment in other subsidiaries | 185 |  |  | 97 |
Other assets | 81 |  |  | 75 |
Total assets | $ | 24,226 |  |  | $ | 22,714 |
Liabilities and Stockholders' Equity |  |  |
Long-term borrowings | $ | 1,839 |  |  | $ | 350 |
Borrowings due to banking subsidiary | — |  |  | 44 |
Other liabilities | 149 |  |  | 92 |
Total liabilities | 1,988 |  |  | 486 |
Stockholders’ equity | 22,238 |  |  | 22,228 |
Total liabilities and stockholders’ equity | $ | 24,226 |  |  | $ | 22,714 |
Schedule of Condensed Statements of Income |
Parent Company
Condensed Statements of Income
| Year Ended December 31
dollars in millions | 2025 |  | 2024 |  | 2023
Income |  |  |  |  |
Dividends from banking subsidiary | $ | 1,680 |  |  | $ | 2,221 |  |  | $ | 367 |
Other income (loss) | 25 |  |  | 25 |  |  | (8) |
Total income | 1,705 |  |  | 2,246 |  |  | 359 |
Expenses |  |  |  |  |
Interest expense | 80 |  |  | 16 |  |  | 22 |
Other expenses | 75 |  |  | 61 |  |  | 40 |
Total expenses | 155 |  |  | 77 |  |  | 62 |
Income before income taxes and equity in undistributed net income of subsidiaries | 1,550 |  |  | 2,169 |  |  | 297 |
Income tax benefit | (16) |  |  | (22) |  |  | (14) |
Income before equity in undistributed net income of subsidiaries | 1,566 |  |  | 2,191 |  |  | 311 |
Equity in undistributed net income of subsidiaries | 640 |  |  | 586 |  |  | 11,155 |
Net income | 2,206 |  |  | 2,777 |  |  | 11,466 |
Preferred stock dividends | 57 |  |  | 61 |  |  | 59 |
Net income available to common stockholders | $ | 2,149 |  |  | $ | 2,716 |  |  | $ | 11,407 |
Schedule of Condensed Statements of Cash Flows |
Parent Company
Condensed Statements of Cash Flows
| Year Ended December 31
dollars in millions | 2025 |  | 2024 |  | 2023
OPERATING ACTIVITIES |  |  |  |  |
Net income | $ | 2,206 |  |  | $ | 2,777 |  |  | $ | 11,466 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |
Undistributed net income of subsidiaries | (640) |  |  | (586) |  |  | (11,155) |
Deferred tax expense (benefit) | 16 |  |  | 2 |  |  | (5) |
Fair value adjustment on marketable equity securities, net | (22) |  |  | (13) |  |  | 11 |
Stock based compensation expense | — |  |  | — |  |  | 5 |
Realized gain on sale of investment securities, net | — |  |  | (6) |  |  | — |
Net change in other assets | (13) |  |  | (15) |  |  | (17) |
Net change in other liabilities | 18 |  |  | (5) |  |  | 3 |
Other operating activities | 2 |  |  | 3 |  |  | — |
Net cash provided by operating activities | 1,567 |  |  | 2,157 |  |  | 308 |
INVESTING ACTIVITIES |  |  |  |  |
Net (increase) decrease in interest-earning deposits at banks | (3) |  |  | 4 |  |  | (2) |
Purchase of marketable equity securities | — |  |  | (6) |  |  | — |
Proceeds from sale of marketable equity securities | 1 |  |  | 15 |  |  | — |
Note receivable from banking subsidiary | 200 |  |  | (200) |  |  | — |
Other investing activities | (359) |  |  | (23) |  |  | — |
Net cash used in investing activities | (161) |  |  | (210) |  |  | (2) |
FINANCING ACTIVITIES |  |  |  |  |
Repayment of long-term borrowings | (350) |  |  | (17) |  |  | (87) |
Repayment of borrowings due to banking subsidiary | (44) |  |  | (1) |  |  | (15) |
Net proceeds from issuance of long-term borrowings | 1,838 |  |  | — |  |  | — |
Net proceeds from preferred stock issuance | 494 |  |  | — |  |  | — |
Repurchase of Class A common stock | (3,027) |  |  | (1,648) |  |  | — |
Cash dividends paid | (161) |  |  | (158) |  |  | (117) |
Other financing activities | — |  |  | (13) |  |  | (6) |
Net cash used in financing activities | (1,250) |  |  | (1,837) |  |  | (225) |
Net change in cash and due from banks | 156 |  |  | 110 |  |  | 81 |
Cash and due from banks at beginning of year | 310 |  |  | 200 |  |  | 119 |
Cash and due from banks at end of year | $ | 466 |  |  | $ | 310 |  |  | $ | 200 |
CASH PAYMENTS (REFUNDS) FOR: |  |  |  |  |
Interest | $ | 51 |  |  | $ | 15 |  |  | $ | 23 |
Income taxes | — |  |  | (1) |  |  | 470 |

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