Loans and Related Allowance for Credit Losses

6 Months Ended

Jun. 30, 2025

LOANS AND RELATED ALLOWANCE FOR CREDIT LOSSES

Loan Portfolio

Our loan portfolio consists of two portfolio segments – Commercial and Consumer. Each of these segments comprises multiple loan classes. Classes are characterized by similarities in risk attributes and the manner in which we monitor and assess credit risk.


Commercial						Consumer

• Commercial and industrial						• Residential real estate
• Commercial real estate						• Home equity
• Equipment lease financing						• Automobile
						• Credit card
						• Education
						• Other consumer

See Note 1 Accounting Policies in our 2024 Form 10-K for additional information on our loan related policies.

Credit Quality

We closely monitor economic conditions and loan performance trends to manage and evaluate our exposure to credit risk within the loan portfolio based on our defined loan classes. In doing so, we use several credit quality indicators, including, but not limited to, trends in delinquency rates, nonperforming status, analyses of PD and LGD ratings, updated credit scores and originated and updated LTV ratios.

We manage credit risk based on the risk profile of the borrower, repayment sources, underlying collateral and other support given current events, economic conditions and expectations. We refine our practices to address operating environment changes such as inflation levels, industry specific risks (including tariffs), interest rate levels, the level of consumer savings and deposit balances, and structural and secular changes such as those that arose from the pandemic. We offer loan modifications and collection programs to assist our customers and mitigate losses.

Table 44 presents the composition and delinquency status of our loan portfolio at June 30, 2025 and December 31, 2024. Loan delinquencies include government insured or guaranteed loans and loans accounted for under the fair value option.

Table 44: Analysis of Loan Portfolio (a) (b)


	Accruing
Dollars in millions	Current or Less Than 30 Days Past Due			30-59 Days Past Due			60-89 Days Past Due			90 Days or More Past Due			Total Past Due (c)				Nonperforming Loans			Fair Value Option Nonaccrual Loans (d)			Total Loans (e)(f)
June 30, 2025
Commercial
Commercial and industrial	$	188,080		$	118		$	91		$	79		$	288			$	462		$	—		$	188,830
Commercial real estate	30,448			43			6			—			49				753			—			31,250
Equipment lease financing	6,867			15			10			—			25				36			—			6,928
Total commercial	225,395			176			107			79			362				1,251			—			227,008
Consumer
Residential real estate	44,188			247			91			182			520			(c)	325			224			45,257
Home equity	25,362			62			28			—			90				436			40			25,928
Automobile	15,714			74			19			5			98				80			—			15,892
Credit card	6,419			42			32			64			138				13			—			6,570
Education	1,477			22			14			34			70			(c)	—			—			1,547
Other consumer	4,110			12			6			7			25				3			—			4,138
Total consumer	97,270			459			190			292			941				857			264			99,332
Total	$	322,665		$	635		$	297		$	371		$	1,303			$	2,108		$	264		$	326,340
Percentage of total loans	98.87		%	0.19		%	0.09		%	0.11		%	0.40		%		0.65		%	0.08		%	100.00		%
December 31, 2024
Commercial
Commercial and industrial	$	174,988		$	159		$	43		$	72		$	274			$	528		$	—		$	175,790
Commercial real estate	32,657			25			18			—			43				919			—			33,619
Equipment lease financing	6,687			41			12			—			53				15			—			6,755
Total commercial	214,332			225			73			72			370				1,462			—			216,164
Consumer
Residential real estate	45,134			234			106			188			528			(c)	278			475			46,415
Home equity	25,351			71			26			—			97				482			61			25,991
Automobile	15,155			83			22			9			114				86			—			15,355
Credit card	6,696			49			38			81			168				15			—			6,879
Education	1,557			25			15			39			79			(c)	—			—			1,636
Other consumer	3,998			10			8			8			26				3			—			4,027
Total consumer	97,891			472			215			325			1,012				864			536			100,303
Total	$	312,223		$	697		$	288		$	397		$	1,382			$	2,326		$	536		$	316,467
Percentage of total loans	98.66		%	0.22		%	0.09		%	0.13		%	0.44		%		0.73		%	0.17		%	100.00		%

(a)Amounts in table represent loans held for investment and do not include any associated ALLL.

(b)The accrued interest associated with our loan portfolio totaled $1.3 billion at both June 30, 2025 and December 31, 2024. These amounts are included in Other assets on the Consolidated Balance Sheet.

(c)Past due loan amounts include government insured or guaranteed residential real estate loans and education loans totaling $0.2 billion and $0.1 billion at June 30, 2025, respectively. Comparable amounts at December 31, 2024 were $0.3 billion and $0.1 billion, respectively.

(d)Consumer loans accounted for under the fair value option for which we do not expect to collect substantially all principal and interest are subject to nonaccrual accounting and classification upon meeting any of our nonaccrual policy criteria. Given that these loans are not accounted for at amortized cost, they have been excluded from the nonperforming loan population.

(e)Includes unearned income, unamortized deferred fees and costs on originated loans and premiums or discounts on purchased loans totaling $1.0 billion at both June 30, 2025 and December 31, 2024.

(f)Collateral dependent loans totaled $1.5 billion and $1.6 billion at June 30, 2025 and December 31, 2024, respectively.

At June 30, 2025, we pledged unpaid principal balances in the amounts of $44.3 billion of commercial and other loans to the FRB and $81.6 billion of residential real estate and other loans to the FHLB as collateral for the ability to borrow, if necessary. The comparable amounts at December 31, 2024 were $43.4 billion and $89.0 billion, respectively.

Nonperforming Assets

Nonperforming assets include nonperforming loans and leases, OREO and foreclosed assets. Nonperforming loans are those loans accounted for at amortized cost whose credit quality has deteriorated to the extent that full collection of contractual principal and interest is not probable. Interest income is generally not recognized on these loans. Loans accounted for under the fair value option are reported as performing loans; however, when nonaccrual criteria is met, interest income is not recognized on these loans. Additionally,

certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest are not reported as nonperforming loans and continue to accrue interest. See Note 1 Accounting Policies in our 2024 Form 10-K for additional information on our nonperforming loan and lease policies.

The following table presents our nonperforming assets as of June 30, 2025 and December 31, 2024:

Table 45: Nonperforming Assets


Dollars in millions	June 30, 2025			December 31, 2024
Nonperforming loans
Commercial	$	1,251		$	1,462
Consumer (a)	857			864
Total nonperforming loans (b)	2,108			2,326
OREO and foreclosed assets	33			31
Total nonperforming assets	$	2,141		$	2,357
Nonperforming loans to total loans	0.65		%	0.73		%
Nonperforming assets to total loans, OREO and foreclosed assets	0.66		%	0.74		%
Nonperforming assets to total assets	0.38		%	0.42		%

(a)Excludes most unsecured consumer loans and lines of credit, which are charged off after 120 to 180 days past due and are not placed on nonperforming status.

(b)Nonperforming loans for which there is no related ALLL totaled $0.6 billion at both June 30, 2025 and December 31, 2024. This primarily includes loans with a fair value of collateral that exceeds the amortized cost basis.

Additional Credit Quality Indicators by Loan Class

Commercial Loan Classes

See Note 3 Loans and Related Allowance for Credit Losses in our 2024 Form 10-K for additional information related to these loan classes, including discussion around the credit quality indicators that we use to monitor and manage the credit risk associated with each loan class.

The following table presents credit quality indicators for our commercial loan classes:

Table 46: Commercial Credit Quality Indicators (a)


	Term Loans by Origination Year
June 30, 2025 In millions	2025			2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial
Pass Rated	$	15,089		$	18,462	$	11,572	$	15,672	$	4,538	$	13,738	$	100,242	$	300	$	179,613
Criticized	320			832		643		1,337		459		543		5,010		73		9,217
Total commercial and industrial loans	15,409			19,294		12,215		17,009		4,997		14,281		105,252		373		188,830
Gross charge-offs (b)	9		(c)	22		54		10		3		5		87		2		192
Commercial real estate
Pass Rated	893			2,572		4,200		5,821		1,753		9,608		432		—		25,279
Criticized	84			268		1,248		1,984		344		2,015		28		—		5,971
Total commercial real estate loans	977			2,840		5,448		7,805		2,097		11,623		460		—		31,250
Gross charge-offs (b)	—			—		1		—		5		76		—		—		82
Equipment lease financing
Pass Rated	925			1,654		1,133		995		388		1,589		—		—		6,684
Criticized	13			58		66		59		24		24		—		—		244
Total equipment lease financing loans	938			1,712		1,199		1,054		412		1,613		—		—		6,928
Gross charge-offs (b)	—			3		5		6		3		3		—		—		20
Total commercial loans	$	17,324		$	23,846	$	18,862	$	25,868	$	7,506	$	27,517	$	105,712	$	373	$	227,008
Total commercial gross charge-offs	$	9		$	25	$	60	$	16	$	11	$	84	$	87	$	2	$	294


	Term Loans by Origination Year
December 31, 2024 In millions	2024			2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial
Pass Rated	$	22,145		$	13,815	$	17,043	$	5,275	$	4,594	$	11,270	$	91,389	$	522	$	166,053
Criticized	761			878		1,856		601		144		580		4,868		49		9,737
Total commercial and industrial loans	22,906			14,693		18,899		5,876		4,738		11,850		96,257		571		175,790
Gross charge-offs (b)	22		(c)	32		51		25		5		7		133		53		328
Commercial real estate
Pass Rated	2,331			5,575		6,875		2,232		1,220		9,685		423		—		28,341
Criticized	141			335		1,974		485		465		1,853		25		—		5,278
Total commercial real estate loans	2,472			5,910		8,849		2,717		1,685		11,538		448		—		33,619
Gross charge-offs (b)	28			5		—		2		1		322		—		—		358
Equipment lease financing
Pass Rated	1,814			1,264		1,112		478		478		1,305		—		—		6,451
Criticized	51			79		88		35		21		30		—		—		304
Total equipment lease financing loans	1,865			1,343		1,200		513		499		1,335		—		—		6,755
Gross charge-offs (b)	1			6		12		5		4		6		—		—		34
Total commercial loans	$	27,243		$	21,946	$	28,948	$	9,106	$	6,922	$	24,723	$	96,705	$	571	$	216,164
Total commercial gross charge-offs	$	51		$	43	$	63	$	32	$	10	$	335	$	133	$	53	$	720

(a)Loans in our commercial portfolio are classified as Pass Rated or Criticized based on the regulatory definitions, which are driven by the PD and LGD ratings that we assign. The Criticized classification includes loans that were rated special mention, substandard or doubtful as of June 30, 2025 and December 31, 2024.

(b)Gross charge-offs are presented on a year-to-date basis, as of the period end date.

(c)Includes charge-offs of deposit overdrafts.

Consumer Loan Classes

Residential Real Estate and Home Equity

The following table presents credit quality indicators for our residential real estate and home equity loan classes:

Table 47: Credit Quality Indicators for Residential Real Estate and Home Equity Loan Classes


	Term Loans by Origination Year
June 30, 2025 In millions	2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Residential real estate
Current estimated LTV ratios
Greater than 100%	$	9	$	19	$	55	$	73	$	56	$	53	$	—	$	—	$	265
Greater than or equal to 80% to 100%	383		528		400		717		486		246		—		—		2,760
Less than 80%	736		1,714		3,768		8,385		13,592		13,414		—		—		41,609
No LTV available	—		—		—		—		9		3		—		—		12
Government insured or guaranteed loans	—		3		18		25		17		548		—		—		611
Total residential real estate loans	$	1,128	$	2,264	$	4,241	$	9,200	$	14,160	$	14,264	$	—	$	—	$	45,257
Updated FICO scores
Greater than or equal to 780	$	633	$	1,632	$	3,016	$	7,399	$	11,326	$	9,070	$	—	$	—	$	33,076
720 to 779	427		527		697		1,283		1,985		2,394		—		—		7,313
660 to 719	54		92		264		376		579		1,055		—		—		2,420
Less than 660	14		10		115		109		172		792		—		—		1,212
No FICO score available	—		—		131		8		81		405		—		—		625
Government insured or guaranteed loans	—		3		18		25		17		548		—		—		611
Total residential real estate loans	$	1,128	$	2,264	$	4,241	$	9,200	$	14,160	$	14,264	$	—	$	—	$	45,257
Gross charge-offs (a)	$	—	$	—	$	—	$	—	$	1	$	1	$	—	$	—	$	2
Home equity (b)
Current estimated LTV ratios
Greater than 100%	$	—	$	—	$	—	$	—	$	2	$	25	$	371	$	387	$	785
Greater than or equal to 80% to 100%	—		—		—		—		5		55		1,197		1,570		2,827
Less than 80%	—		—		—		—		132		4,117		7,212		10,855		22,316
Total home equity loans	$	—	$	—	$	—	$	—	$	139	$	4,197	$	8,780	$	12,812	$	25,928
Updated FICO scores
Greater than or equal to 780	$	—	$	—	$	—	$	—	$	90	$	2,692	$	5,047	$	6,137	$	13,966
720 to 779	—		—		—		—		32		808		2,347		3,170		6,357
660 to 719	—		—		—		—		12		404		1,185		2,053		3,654
Less than 660	—		—		—		—		5		285		195		1,411		1,896
No FICO score available	—		—		—		—		—		8		6		41		55
Total home equity loans	$	—	$	—	$	—	$	—	$	139	$	4,197	$	8,780	$	12,812	$	25,928
Gross charge-offs (a)	$	—	$	—	$	—	$	—	$	—	$	—	$	7	$	11	$	18


(Continued from previous page)	Term Loans by Origination Year
December 31, 2024 In millions	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Residential real estate
Current estimated LTV ratios
Greater than 100%	$	10	$	55	$	85	$	52	$	23	$	32	$	—	$	—	$	257
Greater than or equal to 80% to 100%	591		485		954		601		171		111		—		—		2,913
Less than 80%	2,043		4,039		8,450		13,958		6,084		8,039		—		—		42,613
No LTV available	—		—		—		9		—		3		—		—		12
Government insured or guaranteed loans	1		16		23		17		66		497		—		—		620
Total residential real estate loans	$	2,645	$	4,595	$	9,512	$	14,637	$	6,344	$	8,682	$	—	$	—	$	46,415
Updated FICO scores
Greater than or equal to 780	$	1,730	$	3,264	$	7,584	$	11,723	$	4,683	$	4,858	$	—	$	—	$	33,842
720 to 779	789		805		1,406		2,035		1,004		1,567		—		—		7,606
660 to 719	115		270		401		620		324		784		—		—		2,514
Less than 660	9		108		90		156		116		696		—		—		1,175
No FICO score available	1		132		8		86		151		280		—		—		658
Government insured or guaranteed loans	1		16		23		17		66		497		—		—		620
Total residential real estate loans	$	2,645	$	4,595	$	9,512	$	14,637	$	6,344	$	8,682	$	—	$	—	$	46,415
Gross charge-offs (a)	$	—	$	—	$	—	$	1	$	—	$	2	$	—	$	—	$	3
Home equity (b)
Current estimated LTV ratios
Greater than 100%	$	—	$	—	$	—	$	1	$	12	$	17	$	368	$	372	$	770
Greater than or equal to 80% to 100%	—		—		—		5		31		30		1,098		1,619		2,783
Less than 80%	—		—		—		141		1,670		2,807		6,907		10,913		22,438
Total home equity loans	$	—	$	—	$	—	$	147	$	1,713	$	2,854	$	8,373	$	12,904	$	25,991
Updated FICO scores
Greater than or equal to 780	$	—	$	—	$	—	$	94	$	1,145	$	1,753	$	4,720	$	6,211	$	13,923
720 to 779	—		—		—		34		352		572		2,251		3,274		6,483
660 to 719	—		—		—		14		151		289		1,193		2,085		3,732
Less than 660	—		—		—		5		63		234		202		1,290		1,794
No FICO score available	—		—		—		—		2		6		7		44		59
Total home equity loans	$	—	$	—	$	—	$	147	$	1,713	$	2,854	$	8,373	$	12,904	$	25,991
Gross charge-offs (a)	$	—	$	—	$	—	$	—	$	—	$	1	$	16	$	19	$	36

(a)Gross charge-offs are presented on a year-to-date basis, as of the period end date.

(b)Beginning January 1, 2022, new originations consist of only revolving home equity lines of credit.

Automobile, Credit Card, Education and Other Consumer

The following table presents credit quality indicators for our automobile, credit card, education and other consumer loan classes:

Table 48: Credit Quality Indicators for Automobile, Credit Card, Education and Other Consumer Loan Classes


	Term Loans by Origination Year
June 30, 2025 In millions	2025			2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Automobile
Updated FICO scores
Greater than or equal to 780	$	2,444		$	2,465	$	1,352	$	837	$	608	$	189	$	—	$	—	$	7,895
720 to 779	1,157			1,642		827		455		273		112		—		—		4,466
660 to 719	422			845		505		277		158		83		—		—		2,290
Less than 660	79			363		338		206		140		115		—		—		1,241

Total automobile loans	$	4,102		$	5,315	$	3,022	$	1,775	$	1,179	$	499	$	—	$	—	$	15,892
Gross charge-offs (a)	$	—		$	18	$	22	$	11	$	6	$	8	$	—	$	—	$	65
Credit card
Updated FICO scores
Greater than or equal to 780	$	—		$	—	$	—	$	—	$	—	$	—	$	2,045	$	2	$	2,047
720 to 779	—			—		—		—		—		—		1,745		5		1,750
660 to 719	—			—		—		—		—		—		1,707		16		1,723
Less than 660	—			—		—		—		—		—		888		56		944
No FICO score available or required (b)	—			—		—		—		—		—		104		2		106
Total credit card loans	$	—		$	—	$	—	$	—	$	—	$	—	$	6,489	$	81	$	6,570
Gross charge-offs (a)	$	—		$	—	$	—	$	—	$	—	$	—	$	150	$	21	$	171
Education
Updated FICO scores
Greater than or equal to 780	$	9		$	46	$	52	$	75	$	36	$	313	$	—	$	—	$	531
720 to 779	9			28		33		32		15		110		—		—		227
660 to 719	4			10		13		13		6		46		—		—		92
Less than 660	1			2		4		3		1		20		—		—		31
No FICO score available or required (b)	5			6		4		3		1		1		—		—		20
Total loans using FICO credit metric	28			92		106		126		59		490		—		—		901
Other internal credit metrics	—			—		—		—		—		646		—		—		646
Total education loans	$	28		$	92	$	106	$	126	$	59	$	1,136	$	—	$	—	$	1,547
Gross charge-offs (a)	$	—		$	—	$	—	$	1	$	—	$	8	$	—	$	—	$	9
Other consumer
Updated FICO scores
Greater than or equal to 780	$	140		$	192	$	89	$	41	$	12	$	6	$	34	$	1	$	515
720 to 779	163			213		94		45		12		6		67		1		601
660 to 719	123			144		72		46		12		6		73		—		476
Less than 660	7			40		30		25		10		5		39		1		157

Total loans using FICO credit metric	433			589		285		157		46		23		213		3		1,749
Other internal credit metrics	6			5		5		49		11		96		2,209		8		2,389
Total other consumer loans	$	439		$	594	$	290	$	206	$	57	$	119	$	2,422	$	11	$	4,138
Gross charge-offs (a)	$	38	(c)	$	9	$	14	$	7	$	2	$	2	$	5	$	—	$	77


(Continued from previous page)	Term Loans by Origination Year
December 31, 2024 In millions	2024			2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Automobile
Updated FICO Scores
Greater than or equal to 780	$	3,288		$	1,717	$	1,094	$	865	$	241	$	125	$	—	$	—	$	7,330
720 to 779	2,047			1,123		636		415		129		90		—		—		4,440
660 to 719	963			671		367		227		82		74		—		—		2,384
Less than 660	246			351		231		174		87		112		—		—		1,201
Total automobile loans	$	6,544		$	3,862	$	2,328	$	1,681	$	539	$	401	$	—	$	—	$	15,355
Gross charge-offs (a)	$	9		$	44	$	27	$	17	$	12	$	22	$	—	$	—	$	131
Credit card
Updated FICO scores
Greater than or equal to 780	$	—		$	—	$	—	$	—	$	—	$	—	$	2,090	$	2	$	2,092
720 to 779	—			—		—		—		—		—		1,859		5		1,864
660 to 719	—			—		—		—		—		—		1,815		16		1,831
Less than 660	—			—		—		—		—		—		936		57		993
No FICO score available or required (b)	—			—		—		—		—		—		97		2		99
Total credit card loans	$	—		$	—	$	—	$	—	$	—	$	—	$	6,797	$	82	$	6,879
Gross charge-offs (a)	$	—		$	—	$	—	$	—	$	—	$	—	$	316	$	39	$	355
Education
Updated FICO scores
Greater than or equal to 780	$	22		$	58	$	79	$	39	$	33	$	318	$	—	$	—	$	549
720 to 779	20			36		38		20		14		116		—		—		244
660 to 719	13			14		15		6		5		46		—		—		99
Less than 660	3			3		3		1		1		19		—		—		30
No FICO score available or required (b)	12			5		4		1		—		1		—		—		23
Total loans using FICO credit metric	70			116		139		67		53		500		—		—		945
Other internal credit metrics	—			—		—		—		—		691		—		—		691
Total education loans	$	70		$	116	$	139	$	67	$	53	$	1,191	$	—	$	—	$	1,636
Gross charge-offs (a)	$	—		$	—	$	1	$	1	$	1	$	16	$	—	$	—	$	19
Other consumer
Updated FICO scores
Greater than or equal to 780	$	245		$	129	$	64	$	20	$	5	$	6	$	37	$	1	$	507
720 to 779	292			141		70		21		6		6		72		1		609
660 to 719	203			97		72		22		8		6		79		1		488
Less than 660	20			33		34		15		6		5		40		1		154
Total loans using FICO credit metric	760			400		240		78		25		23		228		4		1,758
Other internal credit metrics	6			9		77		12		11		90		2,056		8		2,269
Total other consumer loans	$	766		$	409	$	317	$	90	$	36	$	113	$	2,284	$	12	$	4,027
Gross charge-offs (a)	$	76	(c)	$	27	$	26	$	13	$	8	$	9	$	11	$	1	$	171

(a)Gross charge-offs are presented on a year-to-date basis, as of the period end date.

(b)Loans where FICO scores are not available or required generally refers to new accounts issued to borrowers with limited credit history, accounts for which we cannot obtain an updated FICO score (e.g., recent profile changes), cards issued with a business name and/or cards secured by collateral. Management proactively assesses the risk and size of this loan category and, when necessary, takes actions to mitigate the credit risk.

(c)Includes charge-offs of deposit overdrafts.

Loan Modifications to Borrowers Experiencing Financial Difficulty

FDMs result from our loss mitigation activities and include principal forgiveness, interest rate reductions, term extensions, payment delays, repayment plans or combinations thereof. See Note 1 Accounting Policies in our 2024 Form 10-K for additional information on FDMs.

The following table presents the amortized cost basis, as of the period end date, of FDMs granted during the three and six months ended June 30, 2025 and 2024:

Table 49: Loan Modifications Granted to Borrowers Experiencing Financial Difficulty (a) (b)


Three months ended June 30, 2025 Dollars in millions	Interest Rate Reduction		Term Extension		Payment Delay		Repayment Plan		Payment Delay and Term Extension		Interest Rate Reduction and Term Extension		Interest Rate Reduction and Payment Delay		Interest Rate Reduction, Payment Delay, and Term Extension		Other (c)		Total		% of Loan Class
Commercial
Commercial and industrial	—		$	550	$	37	$	—	$	17	$	1	$	—	$	—	$	7	$	612	0.32	%
Commercial real estate	—		268		35		—		—		—		—		—		—		303		0.97	%

Total commercial	—		818		72		—		17		1		—		—		7		915		0.40	%
Consumer
Residential real estate	—		—		64		—		—		—		—		—		2		66		0.15	%
Home equity	—		—		1		—		—		—		—		—		8		9		0.03	%
Credit card	—		—		—		18		—		—		—		—		—		18		0.27	%
Education	—		1		—		—		—		—		—		—		—		1		0.06	%
Other consumer	—		1		—		—		—		—		—		—		—		1		0.02	%
Total consumer	—		2		65		18		—		—		—		—		10		95		0.10	%
Total	—		$	820	$	137	$	18	$	17	$	1	$	—	$	—	$	17	$	1,010	0.31	%

Three months ended June 30, 2024 Dollars in millions
Commercial
Commercial and industrial	$	18	$	372	$	94	$	—	$	65	$	102	$	—	$	—	$	67	$	718	0.40	%
Commercial real estate	—		454		—		—		84		—		—		—		—		538		1.52	%

Total commercial	18		826		94		—		149		102		—		—		67		1,256		0.57	%
Consumer
Residential real estate	—		—		30		—		—		1		—		—		5		36		0.08	%
Home equity	—		—		5		1		—		—		—		—		6		12		0.05	%
Credit card	—		—		—		21		—		—		—		—		—		21		0.31	%
Education	—		1		—		—		—		—		—		—		—		1		0.06	%

Total consumer	—		1		35		22		—		1		—		—		11		70		0.07	%
Total	$	18	$	827	$	129	$	22	$	149	$	103	$	—	$	—	$	78	$	1,326	0.41	%


(Continued from previous page) Six months ended June 30, 2025 Dollars in millions	Interest Rate Reduction		Term Extension		Payment Delay		Repayment Plan		Payment Delay and Term Extension		Interest Rate Reduction and Term Extension		Interest Rate Reduction and Payment Delay		Interest Rate Reduction, Payment Delay, and Term Extension		Other (c)		Total		% of Loan Class
Commercial
Commercial and industrial	—		$	788	$	31	$	—	$	24	$	2	$	—	$	14	$	54	$	913	0.48	%
Commercial real estate	—		550		35		—		—		—		—		—		14		599		1.92	%

Total commercial	—		1,338		66		—		24		2		—		14		68		1,512		0.67	%
Consumer
Residential real estate	—		1		88		—		—		1		—		—		3		93		0.21	%
Home equity	—		—		3		1		—		—		—		—		12		16		0.06	%
Credit card	—		—		—		33		—		—		—		—		—		33		0.50	%
Education	—		3		—		—		—		—		—		—		—		3		0.19	%
Other consumer	—		1		—		1		1		—		—		—		—		3		0.07	%
Total consumer	—		5		91		35		1		1		—		—		15		148		0.15	%
Total	—		$	1,343	$	157	$	35	$	25	$	3	$	—	$	14	$	83	$	1,660	0.51	%

Six months ended June 30, 2024 Dollars in millions
Commercial
Commercial and industrial	$	18	$	720	$	83	$	—	$	109	$	112	$	15	$	—	$	97	$	1,154	0.65	%
Commercial real estate	—		779		25		—		148		—		—		—		—		952		2.68	%

Total commercial	18		1,499		108		—		257		112		15		—		97		2,106		0.95	%
Consumer
Residential real estate	—		—		55		—		—		1		—		—		8		64		0.14	%
Home equity	—		—		8		2		—		—		—		—		10		20		0.08	%
Credit card	—		—		—		39		—		—		—		—		—		39		0.57	%
Education	—		3		—		—		—		—		—		—		—		3		0.17	%
Other consumer	—		—		—		1		—		—		—		—		—		1		0.02	%
Total consumer	—		3		63		42		—		1		—		—		18		127		0.13	%
Total	$	18	$	1,502	$	171	$	42	$	257	$	113	$	15	$	—	$	115	$	2,233	0.69	%

(a)The unfunded lending related commitments on FDMs granted during the six months ended June 30, 2025 and 2024 were $0.4 billion and $0.3 billion, respectively.

(b)Excludes the amortized cost basis of modified loans that were paid off, charged off or otherwise liquidated as of the period end date.

(c)Represents all other modifications and includes trial modifications and loans where we have received notification that a borrower has filed for Chapter 7 bankruptcy relief, but specific instructions as to the terms of the relief have not been formally ruled upon by the court.

Table 50 presents the weighted average financial effect of FDMs granted during the three and six months ended June 30, 2025 and 2024.

Table 50: Financial Effect of FDMs (a)

Three months ended June 30, 2025

Dollars in millions

Amortized cost basis (b)

Weighted Average Financial Effect

Term Extension

Commercial and industrial

$568

Extended contractual term by 11 months.

Commercial real estate

$268

Extended contractual term by 16 months.

Education

Extended contractual term by 25 months.

Other consumer

Extended contractual term by 44 months.

Interest Rate Reduction

Commercial and industrial

Reduced contractual interest rate by 5.50%.

Payment Delay

Commercial and industrial

$54

Provided 5 months of payment deferral.

Commercial real estate

$35

Provided 6 months of payment deferral.

Residential real estate

$64

Provided 6 months of payment deferral.

Home equity

Provided 5 months of payment deferral.

Three months ended June 30, 2024

Dollars in millions

Amortized cost basis (b)

Weighted Average Financial Effect

Term Extension

Commercial and industrial

$539

Extended contractual term by 15 months.

Commercial real estate

$538

Extended contractual term by 14 months.

Residential real estate

Extended contractual term by 105 months.

Education

Extended contractual term by 16 months.

Interest Rate Reduction

Commercial and industrial

$120

Reduced contractual interest rate by 1.12%.

Residential real estate

Reduced contractual interest rate by 1.30%.

Payment Delay

Commercial and industrial

$159

Provided 5 months of payment deferral.

Commercial real estate

$84

Provided 23 months of payment deferral.

Residential real estate

$30

Provided 10 months of payment deferral.

Home equity

Provided 5 months of payment deferral.

(Continued from previous page)

Six months ended June 30, 2025

Dollars in millions

Amortized cost basis (b)

Weighted Average Financial Effect

Term Extension

Commercial and industrial

$828

Extended contractual term by 17 months.

Commercial real estate

$550

Extended contractual term by 16 months.

Residential real estate

Extended contractual term by 221 months.

Education

Extended contractual term by 17 months.

Other consumer

Extended contractual term by 32 months.

Interest Rate Reduction

Commercial and industrial

$16

Reduced contractual interest rate by 1.17%.

Residential real estate

Increased contractual interest rate by 0.38%.

Payment Delay

Commercial and industrial

$69

Provided 12 months of payment deferral.

Commercial real estate

$35

Provided 6 months of payment deferral.

Residential real estate

$88

Provided 6 months of payment deferral.

Home equity

Provided 5 months of payment deferral.

Other consumer

Provided 24 months of payment deferral.

Six months ended June 30, 2024

Dollars in millions

Amortized cost basis (b)

Weighted Average Financial Effect

Term Extension

Commercial and industrial

$941

Extended contractual term by 14 months.

Commercial real estate

$927

Extended contractual term by 14 months.

Residential real estate

Extended contractual term by 98 months.

Education

Extended contractual term by 12 months.

Interest Rate Reduction

Commercial and industrial

$145

Reduced contractual interest rate by 1.64%.

Residential real estate

Reduced contractual interest rate by 1.15%.

Payment Delay

Commercial and industrial

$207

Provided 7 months of payment deferral.

Commercial real estate

$173

Provided 9 months of payment deferral.

Residential real estate

$55

Provided 9 months of payment deferral.

Home equity

Provided 4 months of payment deferral.

(a)Excludes the financial effects of modifications for loans that were paid off, charged off or otherwise liquidated as of the period end date.

(b)The amortized cost basis presented in Table 50 includes combination modification categories in addition to the standalone modification categories presented in Table 49. Primarily due to this reason, the amortized cost basis presented in Table 50 may not agree to the amortized cost basis presented alongside the standalone modification categories in Table 49. Amortized cost basis is as of the period end date.

Repayment plans are offered for our credit card, unsecured lines of credit and certain of our home equity loan and line of credit product offerings. We have excluded these plans from Table 50. Refer to Note 3 Loans and Related Allowance for Credit Losses in our 2024 Form 10-K for information around the modification terms of repayment plans.

After we modify a loan, we continue to track its performance under its most recent modified terms. The following table presents the performance, as of the period end date, of FDMs granted during the twelve months preceding June 30, 2025 and 2024.

Table 51: Delinquency Status of FDMs (a) (b)


Twelve months ended June 30, 2025 Dollars in millions	Current or Less Than 30 Days Past Due		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Nonperforming Loans		Total
Commercial
Commercial and industrial	$	1,117	$	9	$	4	$	—	$	106	$	1,236
Commercial real estate	711		—		—		—		301		1,012
Equipment lease financing	1		—		—		—		—		1
Total commercial	1,829		9		4		—		407		2,249
Consumer
Residential real estate	5		1		—		—		136		142
Home equity	5		—		—		—		28		33
Credit card	40		3		4		7		1		55
Education	4		—		—		—		—		4
Other consumer	2		—		—		—		2		4
Total consumer	56		4		4		7		167		238
Total	$	1,885	$	13	$	8	$	7	$	574	$	2,487

Twelve months ended June 30, 2024 Dollars in millions	Current or Less Than 30 Days Past Due		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Nonperforming Loans		Total
Commercial
Commercial and industrial	$	1,318	$	1	$	8	$	—	$	235	$	1,562
Commercial real estate	978		—		—		—		433		1,411

Total commercial	2,296		1		8		—		668		2,973
Consumer
Residential real estate	9		1		—		1		86		97
Home equity	3		—		—		—		29		32
Credit card	45		4		4		7		1		61
Education	6		—		—		—		—		6
Other consumer	1		—		—		—		1		2
Total consumer	64		5		4		8		117		198
Total	$	2,360	$	6	$	12	$	8	$	785	$	3,171

(a)Represents amortized cost basis.

(b)Loans in our Payment Delay category are reported as past due in accordance with their contractual terms. Once contractually modified, these loans are reported as past due in accordance with their restructured terms.

We generally consider FDMs to have subsequently defaulted when they become 60 days past due after the most recent date the loan was modified. Loans that were both (i) classified as FDMs, and (ii) subsequently defaulted during the three and six months ended June 30, 2025 were $82 million and $153 million, respectively. Comparable amounts at June 30, 2024 were $102 million and $150 million, respectively.

Table 52: Rollforward of Allowance for Credit Losses


	Three months ended June 30												Six months ended June 30
	2025						2024						2025						2024
In millions	Commercial		Consumer		Total		Commercial		Consumer		Total		Commercial		Consumer		Total		Commercial		Consumer		Total
Allowance for loan and lease losses
Beginning balance	3,205		1,339		4,544		3,217		1,476		4,693		3,148		1,338		4,486		3,259		1,532		4,791
Charge-offs	(163)		(161)		(324)		(198)		(177)		(375)		(294)		(342)		(636)		(346)		(359)		(705)
Recoveries	61		65		126		52		61		113		108		125		233		75		125		200
Net (charge-offs)	(102)		(96)		(198)		(146)		(116)		(262)		(186)		(217)		(403)		(271)		(234)		(505)
Provision for credit losses	121		50		171		172		32		204		259		172		431		257		94		351
Other	6		—		6		—		1		1		9		—		9		(2)		1		(1)
Ending balance	$	3,230	$	1,293	$	4,523	$	3,243	$	1,393	$	4,636	$	3,230	$	1,293	$	4,523	$	3,243	$	1,393	$	4,636
Allowance for unfunded lending related commitments (a)
Beginning balance	$	528	$	146	$	674	$	528	$	144	$	672	$	580	$	139	$	719	$	545	$	118	$	663
Provision for (recapture of) credit losses	87		(3)		84		53		(8)		45		34		4		38		36		18		54
Other	1		—		1		—		—		—		2		—		2		—		—		—
Ending balance	$	616	$	143	$	759	$	581	$	136	$	717	$	616	$	143	$	759	$	581	$	136	$	717
Allowance for credit losses at June 30 (b)	$	3,846	$	1,436	$	5,282	$	3,824	$	1,529	$	5,353	$	3,846	$	1,436	$	5,282	$	3,824	$	1,529	$	5,353

(a)See Note 8 Commitments for additional information about the underlying commitments related to this allowance.

(b)Represents the ALLL plus allowance for unfunded lending related commitments and excludes allowances for investment securities and other financial assets, which together totaled $88 million and $112 million at June 30, 2025 and 2024, respectively.

The ACL related to loans totaled $5.3 billion at June 30, 2025 and $5.2 billion at December 31, 2024. The increase in reserves was driven primarily by changes in macroeconomic scenarios.