Intangible Assets

6 Months Ended

Jun. 30, 2026

Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]

Intangible assets consist of both definite and indefinite-lived intangible assets. Definite-lived intangible assets consist of core deposit intangibles, developed technology and other intangible assets. Definite-lived intangible assets are amortized on either a straight-line or an accelerated basis over their estimated useful lives and the amortization expense is typically recorded in other noninterest expense in the Condensed Consolidated Statements of Income. Indefinite-lived intangible assets consist of an intangible asset associated with the acquisition of a DUS business line that is included in other intangible assets. Indefinite-lived intangible assets are not amortized but rather tested for impairment annually. The Bancorp also reviews definite and indefinite-lived intangible assets for impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable.

On February 1, 2026, the Bancorp completed its acquisition of Comerica Incorporated. In connection with the acquisition, the Bancorp recorded a $1.2 billion core deposit intangible asset with a weighted-average amortization period of 10 years. Additionally, on May 1, 2026, the Bancorp completed its acquisition of a DUS business line and recorded an $83 million indefinite-lived intangible asset, included in other intangible assets. The fair values of this core deposit intangible and the intangible asset associated with the acquired DUS business line are subject to change as additional information becomes available.

The details of the Bancorp’s intangible assets are shown in the following table:


($ in millions)	Gross Carrying Amount		Accumulated Amortization	Net Carrying Amount
As of June 30, 2026
Core deposit intangibles	$	1,415	(300)	1,115
Developed technology	114		(77)	37
Other	124		(23)	101
Total intangible assets	$	1,653	(400)	1,253
As of December 31, 2025
Core deposit intangibles	$	206	(203)	3
Developed technology	114		(67)	47
Other	41		(22)	19
Total intangible assets	$	361	(292)	69

Amortization expense recognized on definite-lived intangible assets was $63 million and $7 million for the three months ended June 30, 2026 and 2025, respectively, and $108 million and $15 million for the six months ended June 30, 2026 and 2025, respectively. The Bancorp’s projections of amortization expense shown in the following table are based on existing asset balances as of June 30, 2026. Future amortization expense may vary from these projections.

Estimated amortization expense for the remainder of 2026 through 2031 is as follows:


($ in millions)	Total
Remainder of 2026	$	126
2027	222
2028	194
2029	167
2030	137
2031	113