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FAIR VALUE (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value by Class on a Recurring Basis | The following schedule presents assets and liabilities measured at fair value on a recurring basis:
(In millions) | September 30, 2025
Level 1 |  | Level 2 |  | Level 3 |  | Total
ASSETS |  |  |  |  |  |  |
Trading securities | $ | — |  |  | $ | 134 |  |  | $ | — |  |  | $ | 134 |
Available-for-sale securities: |  |  |  |  |  |  |
U.S. Treasury, agencies, and corporations | 1,311 |  |  | 6,861 |  |  | — |  |  | 8,172 |
Municipal securities | — |  |  | 973 |  |  | — |  |  | 973 |
Other debt securities | — |  |  | 25 |  |  | — |  |  | 25 |
Total available-for-sale | 1,311 |  |  | 7,859 |  |  | — |  |  | 9,170 |
Loans held for sale | — |  |  | 126 |  |  | — |  |  | 126 |
Other noninterest-bearing investments: |  |  |  |  |  |  |
Bank-owned life insurance | — |  |  | 571 |  |  | — |  |  | 571 |
Private equity investments 1 | 11 |  |  | — |  |  | 135 |  |  | 146 |
Other assets: |  |  |  |  |  |  |
Agriculture loan servicing | — |  |  | — |  |  | 19 |  |  | 19 |
Deferred compensation plan assets | 152 |  |  | — |  |  | — |  |  | 152 |
Derivatives | — |  |  | 353 |  |  | — |  |  | 353 |
Total assets | $ | 1,474 |  |  | $ | 9,043 |  |  | $ | 154 |  |  | $ | 10,671 |
LIABILITIES |  |  |  |  |  |  |
Fed funds and other short-term borrowings: |  |  |  |  |  |  |
Securities sold, not yet purchased | $ | 252 |  |  | $ | — |  |  | $ | — |  |  | $ | 252 |
Other liabilities: |  |  |  |  |  |  |
Derivatives | — |  |  | 257 |  |  | — |  |  | 257 |
Total liabilities | $ | 252 |  |  | $ | 257 |  |  | $ | — |  |  | $ | 509 |
(In millions) | December 31, 2024
Level 1 |  | Level 2 |  | Level 3 |  | Total
ASSETS |  |  |  |  |  |  |
Trading securities | $ | — |  |  | $ | 35 |  |  | $ | — |  |  | $ | 35 |
Available-for-sale securities: |  |  |  |  |  |  |
U.S. Treasury, agencies, and corporations | 662 |  |  | 7,300 |  |  | — |  |  | 7,962 |
Municipal securities | — |  |  | 1,108 |  |  | — |  |  | 1,108 |
Other debt securities | — |  |  | 25 |  |  | — |  |  | 25 |
Total available-for-sale | 662 |  |  | 8,433 |  |  | — |  |  | 9,095 |
Loans held for sale | — |  |  | 25 |  |  | — |  |  | 25 |
Other noninterest-bearing investments: |  |  |  |  |  |  |
Bank-owned life insurance | — |  |  | 562 |  |  | — |  |  | 562 |
Private equity investments 1 | 3 |  |  | — |  |  | 105 |  |  | 108 |
Other assets: |  |  |  |  |  |  |
Agriculture loan servicing | — |  |  | — |  |  | 20 |  |  | 20 |
Deferred compensation plan assets | 149 |  |  | — |  |  | — |  |  | 149 |
Derivatives | — |  |  | 446 |  |  | — |  |  | 446 |
Total assets | $ | 814 |  |  | $ | 9,501 |  |  | $ | 125 |  |  | $ | 10,440 |
LIABILITIES |  |  |  |  |  |  |
Fed funds and other short-term borrowings: |  |  |  |  |  |  |
Securities sold, not yet purchased | $ | 21 |  |  | $ | — |  |  | $ | — |  |  | $ | 21 |
Other liabilities: |  |  |  |  |  |  |
Derivatives | — |  |  | 350 |  |  | — |  |  | 350 |
Total liabilities | $ | 21 |  |  | $ | 350 |  |  | $ | — |  |  | $ | 371 |
1 The Level 1 private equity investments (“PEIs”) generally relate to the portion of our Small Business Investment Company (“SBIC”) investments and other similar investments that are publicly traded.
Schedule of Assets and Liabilities Measured at Fair Value by Class on a Recurring Basis Using Level 3 Inputs | The following schedule presents a roll-forward of assets and liabilities that are measured at fair value on a recurring basis using Level 3 inputs:
| Level 3 Instruments
| Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024
(In millions) | Private equity investments |  | Ag loan servicing |  | Private equity investments |  | Ag loan servicing |  | Private equity investments |  | Ag loan servicing |  | Private equity investments |  | Ag loan servicing
Balance at beginning of period | $ | 116 |  |  | $ | 20 |  |  | $ | 101 |  |  | $ | 20 |  |  | $ | 105 |  |  | $ | 20 |  |  | $ | 92 |  |  | $ | 19 |
Unrealized securities gains, net | 12 |  |  | — |  |  | 5 |  |  | — |  |  | 36 |  |  | — |  |  | 7 |  |  | — |
Other noninterest income | — |  |  | (1) |  |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  | — |  |  | — |
Purchases | 7 |  |  | — |  |  | 1 |  |  | — |  |  | 12 |  |  | — |  |  | 10 |  |  | — |
Cost of investments sold | — |  |  | — |  |  | (2) |  |  | — |  |  | (6) |  |  | — |  |  | (4) |  |  | — |
Transfers out | — |  |  | — |  |  | — |  |  | — |  |  | (12) |  |  | — |  |  | — |  |  | — |
Balance at end of period | $ | 135 |  |  | $ | 19 |  |  | $ | 105 |  |  | $ | 19 |  |  | $ | 135 |  |  | $ | 19 |  |  | $ | 105 |  |  | $ | 19 |
Schedule of Rollforward of Level 3 Fair Value Measurements Including Realized Gains and Losses in the Income Statement | The roll-forward of Level 3 instruments includes the following realized gains and losses recognized in “Securities gains (losses), net” on the consolidated statement of income for the periods presented:
(In millions) | Three Months Ended |  | Nine Months Ended
September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Securities gains (losses), net | $ | — |  |  | $ | (2) |  |  | $ | (5) |  |  | $ | (1) |
Schedule of Carrying Values and Estimated Fair Values | The following schedule presents the carrying values and estimated fair values of certain financial instruments:
| September 30, 2025 |  | December 31, 2024 |
(In millions) | Carrying value |  | Fair value |  | Level |  | Carrying value |  | Fair value |  | Level |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |
Held-to-maturity investment securities | $ | 9,059 |  |  | $ | 9,106 |  |  | 2 |  | $ | 9,669 |  |  | $ | 9,382 |  |  | 2 |
Loans and leases (including loans held for sale), net of allowance | 59,838 |  |  | 58,075 |  |  | 3 |  | 58,788 |  |  | 57,130 |  |  | 3 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Time deposits | 10,056 |  |  | 9,985 |  |  | 2 |  | 11,482 |  |  | 11,468 |  |  | 2 |
Long-term debt | 1,473 |  |  | 1,506 |  |  | 2 |  | 950 |  |  | 950 |  |  | 2 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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