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Consolidated Statements of Condition - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
ASSETS:    
Cash and cash equivalents $ 23,080 $ 11,475
Debt Securities available-for-sale ($10,236 and $2,822 pledged at September 30, 2024 and December 31, 2023) 10,511 9,145
Equity investments with readily determinable fair values, at fair value 14 14
Total securities net of allowance for credit losses 10,525 9,159
Loans held for sale ($1,595 and $902 measured at fair value, respectively) 1,851 1,182
Loans and leases held for investment, net of deferred loan fees and costs ($67 and zero measured at fair value at September 30, 2024 and December 31, 2023, respectively) 71,116 84,619
Less: Allowance for credit losses on loans and leases (1,264) (992)
Total loans and leases held for investment, net 69,852 83,627
Federal Home Loan Bank stock and Federal Reserve Bank stock, at cost 1,364 1,392
Premises and equipment, net 649 652
Core deposit and other intangibles 519 625
Mortgage servicing rights 0 1,111
Bank-owned life insurance 1,595 1,580
Other assets 3,301 3,254
Assets held for sale (See Note 19 - Assets Held for Sale and Associated Liabilities) 1,631 0
Total assets 114,367 114,057
Deposits:    
Interest-bearing checking and money market accounts 21,680 30,700
Savings accounts 13,510 8,773
Certificates of deposit 29,251 21,554
Non-interest-bearing accounts 18,572 20,499
Total deposits 83,013 81,526
Borrowed funds:    
Federal Home Loan Bank and Federal Reserve Bank advances 19,250 20,250
Repurchase agreements 60 0
Total wholesale borrowings 19,310 20,250
Junior subordinated debentures 581 579
Subordinated notes 442 438
Total borrowed funds 20,333 21,267
Other liabilities 1,978 2,897
Liabilities associated with assets held for sale (See Note 20 - Assets Held for Sale and Associated Liabilities) 471 0
Total liabilities 105,795 105,690
Mezzanine equity:    
Preferred stock - Series B (See Note 17 - Mezzanine and Stockholders Equity) 1 0
Stockholders' equity:    
Preferred stock - Series A and D (See Note 17 - Mezzanine and Stockholders Equity) 503 503
Common stock at par 0.01 (666,666,666 and 300,000,000 shares authorized; 422,729,599 and 248,051,930
 shares issued; and 415,257,967 and 240,688,790 shares outstanding, respectively) [1] 4 2
Paid-in capital in excess of par 9,266 8,236
(Accumulated deficit)/Retained earnings (562) 443
Treasury stock, at cost (7,471,632 and 7,363,140 shares, respectively) (219) (218)
Accumulated other comprehensive loss, net of tax:    
Net unrealized loss on securities available for sale, net of tax of $185 and $225, respectively (468) (581)
Net unrealized loss on pension and post-retirement obligations, net of tax of $11 and $12, respectively (27) (28)
Net unrealized gain on cash flow hedges, net of tax of $(27) and $(6), respectively 74 10
Total accumulated other comprehensive loss, net of tax (421) (599)
Total stockholders’ equity 8,571 8,367
Total liabilities, Mezzanine and Stockholders’ Equity $ 114,367 $ 114,057
[1] On June 27, 2024, the Company announced a 1 for 3 reverse stock split, effective July 11, 2024. This reverse stock split is reflected retroactively in all periods presented. See Note 1 - Organization and Basis of Presentation.