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v3.26.1

Retirement and Benefit Plans (Tables) | 6 Months Ended
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Jun. 30, 2026
Retirement Benefits [Abstract] |
Schedule of Net Benefit Costs | The following table presents the components of the Bancorp’s net periodic pension (benefit) expense, which includes the effects of the plans acquired from Comerica on February 1, 2026:
($ in millions) | For the three months ended June 30, 2026 | For the six months ended June 30, 2026 |
Service cost(a) | $ | 10 |  | 17 |  |
Other components of net periodic pension (benefit) expense: |  |  |
Interest cost | 24 |  | 42 |  |
Expected return on plan assets | (50) |  | (83) |  |
Amortization of net actuarial losses | 1 |  | 1 |  |
Curtailment gain | (6) |  | (6) |  |
Retirement termination benefits | — |  | 11 |  |
Total other components of net periodic pension benefit(b) | $ | (31) |  | (35) |  |
Net periodic pension benefit | $ | (21) |  | (18) |  |
(a)Included in compensation and benefits expense in the Condensed Consolidated Statements of Income. (b)Included in other noninterest expense in the Condensed Consolidated Statements of Income.
Schedule of Net Funded Status | The following table summarizes the acquired plans:
As of June 30, 2026 ($ in millions) | Qualified Plan | Non-Qualified Plan |
Fair value of plan assets | $ | 3,040 |  | — |  |
Projected benefit obligation | 1,574 |  | 152 |  |
Accumulated benefit obligation | 1,557 |  | 149 |  |
Funded status(a) | $ | 1,466 |  | (152) |  |
(a)Based on projected benefit obligation.
Schedule of Defined Benefit Plan Assumptions | The following table summarizes the weighted-average plan assumptions:
As of June 30, 2026 | Qualified Plan | Non-Qualified Plan |
Discount rate | 5.79 |  | % | 5.75 |  |
Rate of compensation increase | 4.50 |  |  | 4.50 |  |
Interest crediting rate | 4.87-5.25 |  | 4.87-5.25 |
Expected long-term return on plan assets | 6.75 |  |  | N/A |
Schedule of Estimated Future Benefit Payments | The following table summarizes the estimated future benefit payments:
As of June 30, 2026 ($ in millions) | Qualified Plan | Non-Qualified Plan |
Remainder of 2026 | $ | 227 |  | 18 |  |
2027 | 144 |  | 15 |  |
2028 | 140 |  | 15 |  |
2029 | 140 |  | 15 |  |
2030 | 139 |  | 14 |  |
2031 - 2035 | 643 |  | 67 |  |
Schedule of Qualified Plan Assets at Fair Value | The following table summarizes the Qualified Plan assets measured at fair value on a recurring basis:
| Fair Value Measurements Using(a)
As of June 30, 2026 ($ in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
Debt securities: |  |  |  |  |  |  |
U.S. Treasury and federal agencies securities | $ | 698 |  |  | 9 |  |  | — |  |  | 707 |
Asset-backed securities and other debt securities(b) | — |  |  | 915 |  |  | — |  |  | 915 |
Private placement securities | — |  |  | 63 |  |  | — |  |  | 63 |
Total debt securities | $ | 698 |  |  | 987 |  |  | — |  |  | 1,685 |
Total plan assets in the fair value hierarchy | $ | 698 |  |  | 987 |  |  | — |  |  | 1,685 |
Investments measured at NAV: |  |  |  |  |  |  |
Collective investment funds |  |  |  |  |  |  | $ | 1,336 |
Total plan assets at fair value(c) |  |  |  |  |  |  | $ | 3,021 |
(a)For further information on fair value hierarchy levels, refer to Note 1 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025. (b)Includes corporate and municipal bonds and notes. (c)Excludes accrued interest receivable of $19.

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