Loans and allowance for loan losses (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Receivables [Abstract] |
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| Summary of Current, Past Due and Nonaccrual Loans |
A summary of current, past due and nonaccrual loans as of June 30, 2025 and December 31, 2024 follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | Current | | 30-89 Days
Past Due | | Accruing Loans Past Due 90 Days or More | | Nonaccrual | | Total (a) (b) | | June 30, 2025 | | | | | | | | | | | Commercial and industrial | $ | 60,632 | | | $ | 219 | | | $ | 22 | | | $ | 787 | | | $ | 61,660 | | | Real estate: | | | | | | | | | | | Commercial (c) | 19,447 | | | 321 | | | 11 | | | 376 | | | 20,155 | | | Residential builder and developer (d) | 150 | | | — | | | — | | | 1 | | | 151 | | | Other commercial construction | 4,199 | | | 35 | | | 4 | | | 23 | | | 4,261 | | | Residential (e) | 22,796 | | | 606 | | | 450 | | | 265 | | | 24,117 | | | Consumer: | | | | | | | | | | | Home equity lines and loans | 4,530 | | | 29 | | | — | | | 75 | | | 4,634 | | | Recreational finance | 13,555 | | | 86 | | | — | | | 25 | | | 13,666 | | | Automobile | 5,199 | | | 52 | | | — | | | 9 | | | 5,260 | | | Other | 2,171 | | | 20 | | | 9 | | | 12 | | | 2,212 | | | Total | $ | 132,679 | | | $ | 1,368 | | | $ | 496 | | | $ | 1,573 | | | $ | 136,116 | | | | | | | | | | | | | December 31, 2024 | | | Commercial and industrial | $ | 60,374 | | | $ | 399 | | | $ | 12 | | | $ | 696 | | | $ | 61,481 | | | Real estate: | | | | | | | | | | | Commercial (c) | 20,054 | | | 255 | | | 3 | | | 468 | | | 20,780 | | | Residential builder and developer | 830 | | | 3 | | | — | | | 2 | | | 835 | | | Other commercial construction | 5,018 | | | 65 | | | — | | | 66 | | | 5,149 | | | Residential (e) | 21,853 | | | 719 | | | 315 | | | 279 | | | 23,166 | | | Consumer: | | | | | | | | | | | Home equity lines and loans | 4,482 | | | 29 | | | — | | | 81 | | | 4,592 | | | Recreational finance | 12,429 | | | 104 | | | — | | | 31 | | | 12,564 | | | Automobile | 4,724 | | | 58 | | | — | | | 12 | | | 4,794 | | | Other | 2,134 | | | 23 | | | 8 | | | 55 | | | 2,220 | | | Total | $ | 131,898 | | | $ | 1,655 | | | $ | 338 | | | $ | 1,690 | | | $ | 135,581 | |
__________________________________________________________________________________(a)Balances include net discounts, comprised of unamortized premiums, discounts and net deferred loan fees and costs of $301 million and $277 million at June 30, 2025 and December 31, 2024, respectively. (b)Balances exclude accrued interest receivable of $617 million and $628 million at June 30, 2025 and December 31, 2024, respectively, which is included in Accrued interest and other assets in the Company's Consolidated Balance Sheet. (c)Commercial real estate loans held for sale were $361 million at June 30, 2025 and $310 million at December 31, 2024. (d)In June 2025, the Company sold $661 million of residential builder and developer loans and recognized a gain on sale of $15 million, which is included in Other revenues from operations in the Consolidated Statement of Income. Residential builder and developer loans held for sale were $24 million at June 30, 2025. (e)One-to-four family residential mortgage loans held for sale were $222 million at June 30, 2025 and $211 million at December 31, 2024.
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| Summary of Loan grades applied various classes of Commercial and Real Estate Loans |
The following table summarizes the loan grades applied at June 30, 2025 to the various classes of the Company’s commercial and industrial loans and commercial real estate loans and gross charge-offs for those types of loans for the three-month and six-month periods ended June 30, 2025 by origination year. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans by Origination Year | | Revolving
Loans | | Revolving Loans Converted to Term
Loans | | Total | | (Dollars in millions) | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | | | | Commercial and industrial: | | | | | | | | | | | | | | | | | | Pass | $ | 4,712 | | | $ | 7,842 | | | $ | 5,186 | | | $ | 5,022 | | | $ | 2,719 | | | $ | 5,746 | | | $ | 26,527 | | | $ | 100 | | | $ | 57,854 | | | Criticized accrual | 56 | | | 239 | | | 473 | | | 391 | | | 170 | | | 485 | | | 1,169 | | | 36 | | | 3,019 | | | Criticized nonaccrual | 1 | | | 26 | | | 84 | | | 88 | | | 38 | | | 254 | | | 279 | | | 17 | | | 787 | | | Total commercial and industrial | $ | 4,769 | | | $ | 8,107 | | | $ | 5,743 | | | $ | 5,501 | | | $ | 2,927 | | | $ | 6,485 | | | $ | 27,975 | | | $ | 153 | | | $ | 61,660 | | | Gross charge-offs three months ended June 30, 2025 | $ | 4 | | | $ | 5 | | | $ | 11 | | | $ | 4 | | | $ | 2 | | | $ | 4 | | | $ | 27 | | | $ | — | | | $ | 57 | | | Gross charge-offs six months ended June 30, 2025 | $ | 4 | | | $ | 8 | | | $ | 19 | | | $ | 13 | | | $ | 4 | | | $ | 9 | | | $ | 50 | | | $ | — | | | $ | 107 | | | Real estate: | | | | | | | | | | | | | | | | | | | Commercial: | | | | | | | | | | | | | | | | | | | Pass | $ | 1,382 | | | $ | 383 | | | $ | 1,543 | | | $ | 1,510 | | | $ | 1,234 | | | $ | 10,332 | | | $ | 460 | | | $ | — | | | $ | 16,844 | | | Criticized accrual | — | | | 37 | | | 385 | | | 433 | | | 221 | | | 1,853 | | | 6 | | | — | | | 2,935 | | | Criticized nonaccrual | — | | | — | | | 1 | | | 49 | | | 20 | | | 306 | | | — | | | — | | | 376 | | | Total commercial real estate | $ | 1,382 | | | $ | 420 | | | $ | 1,929 | | | $ | 1,992 | | | $ | 1,475 | | | $ | 12,491 | | | $ | 466 | | | $ | — | | | $ | 20,155 | | | Gross charge-offs three months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | 4 | | | $ | — | | | $ | 18 | | | $ | — | | | $ | — | | | $ | 22 | | | Gross charge-offs six months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | 4 | | | $ | — | | | $ | 40 | | | $ | — | | | $ | — | | | $ | 44 | | | Residential builder and developer: | | | | | | | | | | | | | | | | | | | Pass | $ | 26 | | | $ | — | | | $ | 6 | | | $ | 26 | | | $ | 2 | | | $ | 9 | | | $ | 68 | | | $ | — | | | $ | 137 | | | Criticized accrual | — | | | — | | | — | | | 13 | | | — | | | — | | | — | | | — | | | 13 | | | Criticized nonaccrual | — | | | — | | | — | | | — | | | — | | | 1 | | | — | | | — | | | 1 | | | Total residential builder and developer | $ | 26 | | | $ | — | | | $ | 6 | | | $ | 39 | | | $ | 2 | | | $ | 10 | | | $ | 68 | | | $ | — | | | $ | 151 | | | Gross charge-offs three months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Gross charge-offs six months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Other commercial construction: | | | | | | | | | | | | | | | | | | | Pass | $ | 43 | | | $ | 186 | | | $ | 1,379 | | | $ | 845 | | | $ | 149 | | | $ | 380 | | | $ | 50 | | | $ | — | | | $ | 3,032 | | | Criticized accrual | — | | | 3 | | | 108 | | | 637 | | | 144 | | | 308 | | | 6 | | | — | | | 1,206 | | | Criticized nonaccrual | — | | | — | | | — | | | 11 | | | 2 | | | 10 | | | — | | | — | | | 23 | | | Total other commercial construction | $ | 43 | | | $ | 189 | | | $ | 1,487 | | | $ | 1,493 | | | $ | 295 | | | $ | 698 | | | $ | 56 | | | $ | — | | | $ | 4,261 | | | Gross charge-offs three months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | 3 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 3 | | | Gross charge-offs six months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | 3 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 3 | |
The following table summarizes the loan grades applied at December 31, 2024 to the various classes of the Company’s commercial and industrial loans and commercial real estate loans by origination year. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans by Origination Year | | Revolving
Loans | | Revolving Loans Converted to Term
Loans | | | | (Dollars in millions) | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | | | Total | | Commercial and industrial: | | | | | | | | | | | | | | | | | | | Pass | $ | 9,021 | | | $ | 6,454 | | | $ | 5,845 | | | $ | 3,258 | | | $ | 1,534 | | | $ | 5,147 | | | $ | 26,262 | | | $ | 79 | | | $ | 57,600 | | | Criticized accrual | 189 | | | 385 | | | 402 | | | 210 | | | 75 | | | 528 | | | 1,359 | | | 37 | | | 3,185 | | | Criticized nonaccrual | 11 | | | 56 | | | 98 | | | 41 | | | 59 | | | 220 | | | 194 | | | 17 | | | 696 | | | Total commercial and industrial | $ | 9,221 | | | $ | 6,895 | | | $ | 6,345 | | | $ | 3,509 | | | $ | 1,668 | | | $ | 5,895 | | | $ | 27,815 | | | $ | 133 | | | $ | 61,481 | | | Real estate: | | | | | | | | | | | | | | | | | | | Commercial: | | | | | | | | | | | | | | | | | | | Pass | $ | 674 | | | $ | 1,477 | | | $ | 1,358 | | | $ | 1,222 | | | $ | 1,774 | | | $ | 9,611 | | | $ | 413 | | | $ | — | | | $ | 16,529 | | | Criticized accrual | 39 | | | 389 | | | 665 | | | 253 | | | 591 | | | 1,839 | | | 7 | | | — | | | 3,783 | | | Criticized nonaccrual | 1 | | | 1 | | | 53 | | | 26 | | | 17 | | | 369 | | | 1 | | | — | | | 468 | | | Total commercial real estate | $ | 714 | | | $ | 1,867 | | | $ | 2,076 | | | $ | 1,501 | | | $ | 2,382 | | | $ | 11,819 | | | $ | 421 | | | $ | — | | | $ | 20,780 | | | Residential builder and developer: | | | | | | | | | | | | | | | | | | | Pass | $ | 380 | | | $ | 236 | | | $ | 40 | | | $ | 12 | | | $ | 4 | | | $ | 10 | | | $ | 60 | | | $ | — | | | $ | 742 | | | Criticized accrual | 15 | | | 42 | | | 34 | | | — | | | — | | | — | | | — | | | — | | | 91 | | | Criticized nonaccrual | 1 | | | — | | | — | | | — | | | — | | | 1 | | | — | | | — | | | 2 | | | Total residential builder and developer | $ | 396 | | | $ | 278 | | | $ | 74 | | | $ | 12 | | | $ | 4 | | | $ | 11 | | | $ | 60 | | | $ | — | | | $ | 835 | | | Other commercial construction: | | | | | | | | | | | | | | | | | | | Pass | $ | 108 | | | $ | 1,395 | | | $ | 1,091 | | | $ | 269 | | | $ | 175 | | | $ | 379 | | | $ | 42 | | | $ | — | | | $ | 3,459 | | | Criticized accrual | 42 | | | 104 | | | 687 | | | 346 | | | 297 | | | 145 | | | 3 | | | — | | | 1,624 | | | Criticized nonaccrual | — | | | — | | | 17 | | | 33 | | | — | | | 16 | | | — | | | — | | | 66 | | | Total other commercial construction | $ | 150 | | | $ | 1,499 | | | $ | 1,795 | | | $ | 648 | | | $ | 472 | | | $ | 540 | | | $ | 45 | | | $ | — | | | $ | 5,149 | |
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| Summary of loans in Accrual and Nonaccrual Status |
A summary of loans in accrual and nonaccrual status at June 30, 2025 for the various classes of the Company’s residential real estate loans and consumer loans and gross charge-offs for those types of loans for the three-month and six-month periods ended June 30, 2025 by origination year follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans by Origination Year | | Revolving
Loans | | Revolving Loans Converted to Term
Loans | | Total | | (Dollars in millions) | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | | | | Residential real estate: | | | | | | | | | | | | | | | | | | | Current | $ | 1,802 | | | $ | 1,976 | | | $ | 1,273 | | | $ | 4,333 | | | $ | 3,610 | | | $ | 9,681 | | | $ | 121 | | | $ | — | | | $ | 22,796 | | | 30-89 days past due | 4 | | | 9 | | | 13 | | | 100 | | | 70 | | | 410 | | | — | | | — | | | 606 | | | Accruing loans past due 90 days or more | — | | | 3 | | | 10 | | | 63 | | | 107 | | | 267 | | | — | | | — | | | 450 | | | Nonaccrual | — | | | 4 | | | 6 | | | 38 | | | 17 | | | 199 | | | 1 | | | — | | | 265 | | | Total residential real estate | $ | 1,806 | | | $ | 1,992 | | | $ | 1,302 | | | $ | 4,534 | | | $ | 3,804 | | | $ | 10,557 | | | $ | 122 | | | $ | — | | | $ | 24,117 | | | Gross charge-offs three months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | 1 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 1 | | | Gross charge-offs six months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | 1 | | | $ | — | | | $ | 2 | | | $ | — | | | $ | — | | | $ | 3 | | | | | | | | | | | | | | | | | | | | | Consumer: | | | | | | | | | | | | | | | | | | | Home equity lines and loans: | | | | | | | | | | | | | | | | | | | Current | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 1 | | | $ | 84 | | | $ | 3,155 | | | $ | 1,290 | | | $ | 4,530 | | | 30-89 days past due | — | | | — | | | — | | | — | | | — | | | 1 | | | — | | | 28 | | | 29 | | | Accruing loans past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Nonaccrual | — | | | — | | | — | | | — | | | — | | | 2 | | | 1 | | | 72 | | | 75 | | | Total home equity lines and loans | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 1 | | | $ | 87 | | | $ | 3,156 | | | $ | 1,390 | | | $ | 4,634 | | | Gross charge-offs three months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 1 | | | $ | 1 | | | Gross charge-offs six months ended June 30, 2025 | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 2 | | | $ | 2 | | | Recreational finance: | | | | | | | | | | | | | | | | | | | Current | $ | 2,459 | | | $ | 3,462 | | | $ | 1,953 | | | $ | 1,855 | | | $ | 1,494 | | | $ | 2,332 | | | $ | — | | | $ | — | | | $ | 13,555 | | | 30-89 days past due | 2 | | | 16 | | | 15 | | | 15 | | | 13 | | | 25 | | | — | | | — | | | 86 | | | Accruing loans past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Nonaccrual | 1 | | | 4 | | | 5 | | | 4 | | | 4 | | | 7 | | | — | | | — | | | 25 | | | Total recreational finance | $ | 2,462 | | | $ | 3,482 | | | $ | 1,973 | | | $ | 1,874 | | | $ | 1,511 | | | $ | 2,364 | | | $ | — | | | $ | — | | | $ | 13,666 | | | Gross charge-offs three months ended June 30, 2025 | $ | 1 | | | $ | 6 | | | $ | 6 | | | $ | 6 | | | $ | 5 | | | $ | 9 | | | $ | — | | | $ | — | | | $ | 33 | | | Gross charge-offs six months ended June 30, 2025 | $ | 1 | | | $ | 11 | | | $ | 14 | | | $ | 13 | | | $ | 12 | | | $ | 22 | | | $ | — | | | $ | — | | | $ | 73 | | | Automobile: | | | | | | | | | | | | | | | | | | | Current | $ | 1,116 | | | $ | 2,056 | | | $ | 709 | | | $ | 628 | | | $ | 493 | | | $ | 197 | | | $ | — | | | $ | — | | | $ | 5,199 | | | 30-89 days past due | 3 | | | 13 | | | 12 | | | 11 | | | 8 | | | 5 | | | — | | | — | | | 52 | | | Accruing loans past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Nonaccrual | 1 | | | 2 | | | 2 | | | 2 | | | 1 | | | 1 | | | — | | | — | | | 9 | | | Total automobile | $ | 1,120 | | | $ | 2,071 | | | $ | 723 | | | $ | 641 | | | $ | 502 | | | $ | 203 | | | $ | — | | | $ | — | | | $ | 5,260 | | | Gross charge-offs three months ended June 30, 2025 | $ | — | | | $ | 4 | | | $ | 2 | | | $ | 3 | | | $ | 1 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 11 | | | Gross charge-offs six months ended June 30, 2025 | $ | — | | | $ | 7 | | | $ | 5 | | | $ | 6 | | | $ | 3 | | | $ | 2 | | | $ | — | | | $ | — | | | $ | 23 | | | Other: | | | | | | | | | | | | | | | | | | | Current | $ | 204 | | | $ | 199 | | | $ | 119 | | | $ | 75 | | | $ | 56 | | | $ | 27 | | | $ | 1,490 | | | $ | 1 | | | $ | 2,171 | | | 30-89 days past due | 2 | | | 2 | | | 2 | | | 1 | | | — | | | — | | | 12 | | | 1 | | | 20 | | | Accruing loans past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | 9 | | | — | | | 9 | | | Nonaccrual | 2 | | | 1 | | | 1 | | | — | | | — | | | — | | | 8 | | | — | | | 12 | | | Total other | $ | 208 | | | $ | 202 | | | $ | 122 | | | $ | 76 | | | $ | 56 | | | $ | 27 | | | $ | 1,519 | | | $ | 2 | | | $ | 2,212 | | | Gross charge-offs three months ended June 30, 2025 | $ | 6 | | | $ | 2 | | | $ | 2 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 17 | | | $ | — | | | $ | 28 | | | Gross charge-offs six months ended June 30, 2025 | $ | 7 | | | $ | 8 | | | $ | 5 | | | $ | 2 | | | $ | 1 | | | $ | 1 | | | $ | 37 | | | $ | — | | | $ | 61 | | | Total loans at June 30, 2025 | $ | 11,816 | | | $ | 16,463 | | | $ | 13,285 | | | $ | 16,150 | | | $ | 10,573 | | | $ | 32,922 | | | $ | 33,362 | | | $ | 1,545 | | | $ | 136,116 | | Total gross charge-offs for the three months ended June 30, 2025 | $ | 11 | | | $ | 17 | | | $ | 21 | | | $ | 22 | | | $ | 8 | | | $ | 32 | | | $ | 44 | | | $ | 1 | | | $ | 156 | | Total gross charge-offs for the six months ended June 30, 2025 | $ | 12 | | | $ | 34 | | | $ | 43 | | | $ | 42 | | | $ | 20 | | | $ | 76 | | | $ | 87 | | | $ | 2 | | | $ | 316 | |
A summary of loans in accrual and nonaccrual status at December 31, 2024 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans by Origination Year | | Revolving
Loans | | Revolving Loans Converted to Term
Loans | | Total | | (Dollars in millions) | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | | | | Residential real estate: | | | | | | | | | | | | | | | | | | | Current | $ | 2,264 | | | $ | 1,354 | | | $ | 4,394 | | | $ | 3,488 | | | $ | 2,376 | | | $ | 7,874 | | | $ | 103 | | | $ | — | | | $ | 21,853 | | | 30-89 days past due | 12 | | | 9 | | | 111 | | | 77 | | | 38 | | | 472 | | | — | | | — | | | 719 | | | Accruing loans past due 90 days or more | 1 | | | 7 | | | 39 | | | 47 | | | 20 | | | 201 | | | — | | | — | | | 315 | | | Nonaccrual | — | | | 2 | | | 27 | | | 16 | | | 5 | | | 226 | | | 3 | | | — | | | 279 | | | Total residential real estate | $ | 2,277 | | | $ | 1,372 | | | $ | 4,571 | | | $ | 3,628 | | | $ | 2,439 | | | $ | 8,773 | | | $ | 106 | | | $ | — | | | $ | 23,166 | | | Consumer: | | | | | | | | | | | | | | | | | | | Home equity lines and loans: | | | | | | | | | | | | | | | | | | | Current | $ | — | | | $ | — | | | $ | — | | | $ | 2 | | | $ | 2 | | | $ | 91 | | | $ | 3,085 | | | $ | 1,302 | | | $ | 4,482 | | | 30-89 days past due | — | | | — | | | — | | | — | | | — | | | 2 | | | — | | | 27 | | | 29 | | | Accruing loans past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Nonaccrual | — | | | — | | | — | | | — | | | — | | | 2 | | | — | | | 79 | | | 81 | | | Total home equity lines and loans | $ | — | | | $ | — | | | $ | — | | | $ | 2 | | | $ | 2 | | | $ | 95 | | | $ | 3,085 | | | $ | 1,408 | | | $ | 4,592 | | | Recreational finance: | | | | | | | | | | | | | | | | | | | Current | $ | 3,918 | | | $ | 2,203 | | | $ | 2,044 | | | $ | 1,661 | | | $ | 1,100 | | | $ | 1,503 | | | $ | — | | | $ | — | | | $ | 12,429 | | | 30-89 days past due | 13 | | | 18 | | | 15 | | | 20 | | | 15 | | | 23 | | | — | | | — | | | 104 | | | Accruing loans past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Nonaccrual | 3 | | | 6 | | | 6 | | | 5 | | | 4 | | | 7 | | | — | | | — | | | 31 | | | Total recreational finance | $ | 3,934 | | | $ | 2,227 | | | $ | 2,065 | | | $ | 1,686 | | | $ | 1,119 | | | $ | 1,533 | | | $ | — | | | $ | — | | | $ | 12,564 | | | Automobile: | | | | | | | | | | | | | | | | | | | Current | $ | 2,264 | | | $ | 775 | | | $ | 740 | | | $ | 632 | | | $ | 220 | | | $ | 93 | | | $ | — | | | $ | — | | | $ | 4,724 | | | 30-89 days past due | 11 | | | 13 | | | 13 | | | 12 | | | 5 | | | 4 | | | — | | | — | | | 58 | | | Accruing loans past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Nonaccrual | 2 | | | 2 | | | 3 | | | 2 | | | 1 | | | 2 | | | — | | | — | | | 12 | | | Total automobile | $ | 2,277 | | | $ | 790 | | | $ | 756 | | | $ | 646 | | | $ | 226 | | | $ | 99 | | | $ | — | | | $ | — | | | $ | 4,794 | | | Other: | | | | | | | | | | | | | | | | | | | Current | $ | 259 | | | $ | 152 | | | $ | 102 | | | $ | 71 | | | $ | 16 | | | $ | 18 | | | $ | 1,515 | | | $ | 1 | | | $ | 2,134 | | | 30-89 days past due | 4 | | | 2 | | | 1 | | | 1 | | | — | | | — | | | 14 | | | 1 | | | 23 | | | Accruing loans past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | 8 | | | — | | | 8 | | | Nonaccrual | 2 | | | 1 | | | 1 | | | — | | | — | | | — | | | 51 | | | — | | | 55 | | | Total other | $ | 265 | | | $ | 155 | | | $ | 104 | | | $ | 72 | | | $ | 16 | | | $ | 18 | | | $ | 1,588 | | | $ | 2 | | | $ | 2,220 | | | Total loans at December 31, 2024 | $ | 19,234 | | | $ | 15,083 | | | $ | 17,786 | | | $ | 11,704 | | | $ | 8,328 | | | $ | 28,783 | | | $ | 33,120 | | | $ | 1,543 | | | $ | 135,581 | |
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| Changes in Allowance for Credit Losses |
Changes in the allowance for loan losses and the reserve for unfunded credit commitments for the three-month and six-month periods ended June 30, 2025 and 2024 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Allowance for Loan Losses | | | | Commercial
and Industrial | | Real Estate | | | | | | Reserve for Unfunded Credit Commitments (a) | | (Dollars in millions) | | Commercial | | Residential | | Consumer | | Total | | | Three Months Ended June 30, 2025 | | | | | | | | | | | | | Beginning balance | $ | 762 | | | $ | 610 | | | $ | 105 | | | $ | 723 | | | $ | 2,200 | | | $ | 60 | | | Provision for credit losses | 69 | | | (43) | | | 5 | | | 74 | | | 105 | | | 20 | | | Net charge-offs: | | | | | | | | | | | | | Charge-offs | (57) | | | (25) | | | (1) | | | (73) | | | (156) | | | — | | | Recoveries | 19 | | | 2 | | | 1 | | | 26 | | | 48 | | | — | | | Net charge-offs | (38) | | | (23) | | | — | | | (47) | | | (108) | | | — | | | Ending balance | $ | 793 | | | $ | 544 | | | $ | 110 | | | $ | 750 | | | $ | 2,197 | | | $ | 80 | | | | | | | | | | | | | | | Three Months Ended June 30, 2024 | | | | | | | | | | | | | Beginning balance | $ | 684 | | | $ | 754 | | | $ | 118 | | | $ | 635 | | | $ | 2,191 | | | $ | 60 | | | Provision for credit losses | 176 | | | (70) | | | (8) | | | 52 | | | 150 | | | — | | | Net charge-offs: | | | | | | | | | | | | | Charge-offs | (78) | | | (43) | | | (2) | | | (57) | | | (180) | | | — | | | Recoveries | 8 | | | 17 | | | 2 | | | 16 | | | 43 | | | — | | | Net charge-offs | (70) | | | (26) | | | — | | | (41) | | | (137) | | | — | | | Ending balance | $ | 790 | | | $ | 658 | | | $ | 110 | | | $ | 646 | | | $ | 2,204 | | | $ | 60 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | | | | | | | | | Beginning balance | $ | 769 | | | $ | 599 | | | $ | 108 | | | $ | 708 | | | $ | 2,184 | | | $ | 60 | | | Provision for credit losses | 91 | | | (13) | | | 2 | | | 155 | | | 235 | | | 20 | | | Net charge-offs: | | | | | | | | | | | | | Charge-offs | (107) | | | (47) | | | (3) | | | (159) | | | (316) | | | — | | | Recoveries | 40 | | | 5 | | | 3 | | | 46 | | | 94 | | | — | | | Net charge-offs | (67) | | | (42) | | | — | | | (113) | | | (222) | | | — | | | Ending balance | $ | 793 | | | $ | 544 | | | $ | 110 | | | $ | 750 | | | $ | 2,197 | | | $ | 80 | | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | | | | | | | | | | | | | Beginning balance | $ | 620 | | | $ | 764 | | | $ | 116 | | | $ | 629 | | | $ | 2,129 | | | $ | 60 | | | Provision for credit losses | 313 | | | (61) | | | (6) | | | 104 | | | 350 | | | — | | | Net charge-offs: | | | | | | | | | | | | | Charge-offs | (156) | | | (68) | | | (3) | | | (116) | | | (343) | | | — | | | Recoveries | 13 | | | 23 | | | 3 | | | 29 | | | 68 | | | — | | | Net charge-offs | (143) | | | (45) | | | — | | | (87) | | | (275) | | | — | | | Ending balance | $ | 790 | | | $ | 658 | | | $ | 110 | | | $ | 646 | | | $ | 2,204 | | | $ | 60 | |
__________________________________________________________________________________ (a)Further information about unfunded credit commitments is included in note 14.
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| Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans |
Information with respect to loans that were considered nonaccrual at the beginning and end of the reporting period and the interest income recognized on such loans for the three-month and six-month periods ended June 30, 2025 and 2024 follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost with Allowance | | Amortized Cost without Allowance | | Total | | Amortized Cost | | Interest Income Recognized | | (Dollars in millions) | June 30, 2025 | | March 31, 2025 | | January 1, 2025 | | Three Months
Ended
June 30,
2025 | | Six Months
Ended
June 30,
2025 | | Commercial and industrial | $ | 663 | | | $ | 124 | | | $ | 787 | | | $ | 662 | | | $ | 696 | | | $ | 6 | | | $ | 12 | | | Real estate: | | | | | | | | | | | | | | | Commercial | 289 | | | 87 | | | 376 | | | 394 | | | 468 | | | 10 | | | 17 | | | Residential builder and developer | 1 | | | — | | | 1 | | | 1 | | | 2 | | | — | | | — | | | Other commercial construction | 23 | | | — | | | 23 | | | 28 | | | 66 | | | — | | | — | | | Residential | 115 | | | 150 | | | 265 | | | 284 | | | 279 | | | 4 | | | 7 | | | | | | | | | | | | | | | | | Consumer: | | | | | | | | | | | | | | | Home equity lines and loans | 34 | | | 41 | | | 75 | | | 78 | | | 81 | | | 2 | | | 4 | | | Recreational finance | 15 | | | 10 | | | 25 | | | 26 | | | 31 | | | — | | | — | | | Automobile | 7 | | | 2 | | | 9 | | | 11 | | | 12 | | | — | | | — | | | Other | 5 | | | 7 | | | 12 | | | 56 | | | 55 | | | — | | | — | | | Total | $ | 1,152 | | | $ | 421 | | | $ | 1,573 | | | $ | 1,540 | | | $ | 1,690 | | | $ | 22 | | | $ | 40 | | | June 30, 2024 | | March 31, 2024 | | January 1, 2024 | | Three Months
Ended
June 30,
2024 | | Six Months
Ended
June 30,
2024 | | Commercial and industrial | $ | 494 | | | $ | 311 | | | $ | 805 | | | $ | 864 | | | $ | 670 | | | $ | 7 | | | $ | 9 | | | Real estate: | | | | | | | | | | | | | | | Commercial | 315 | | | 392 | | | 707 | | | 855 | | | 869 | | | 20 | | | 26 | | | Residential builder and developer | 2 | | | — | | | 2 | | | 3 | | | 3 | | | — | | | — | | | Other commercial construction | 13 | | | 64 | | | 77 | | | 141 | | | 171 | | | 3 | | | 3 | | | Residential | 115 | | | 145 | | | 260 | | | 255 | | | 270 | | | 3 | | | 7 | | | | | | | | | | | | | | | | | Consumer: | | | | | | | | | | | | | | | Home equity lines and loans | 37 | | | 42 | | | 79 | | | 87 | | | 81 | | | 1 | | | 2 | | | Recreational finance | 15 | | | 10 | | | 25 | | | 30 | | | 36 | | | — | | | — | | | Automobile | 7 | | | 4 | | | 11 | | | 13 | | | 14 | | | — | | | — | | | Other | 58 | | | — | | | 58 | | | 54 | | | 52 | | | — | | | — | | | Total | $ | 1,056 | | | $ | 968 | | | $ | 2,024 | | | $ | 2,302 | | | $ | 2,166 | | | $ | 34 | | | $ | 47 | |
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| Loan Modification Activities to Borrowers Experiencing Financial Difficulty on Financing Receivables |
The table that follows summarizes the Company’s loan modification activities to borrowers experiencing financial difficulty for the three-month and six-month periods ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | (Dollars in millions) | Term Extension | | Other (a) | | Combination of Modification Types (b) | | Total (c) (d) | | Percent of Total Loan Class | | Three Months Ended June 30, 2025 | | | | | | | | | | | Commercial and industrial | $ | 68 | | | $ | 16 | | | $ | 3 | | | $ | 87 | | | .14 | % | | Real estate: | | | | | | | | | | | Commercial | 266 | | | 53 | | | — | | | 319 | | | 1.58 | | | Residential builder and developer | — | | | — | | | — | | | — | | | — | | | Other commercial construction | 12 | | | — | | | — | | | 12 | | | .27 | | | Residential | 37 | | | 1 | | | 6 | | | 44 | | | .18 | | | | | | | | | | | | | Consumer: | | | | | | | | | | | Home equity lines and loans | — | | | — | | | — | | | — | | | — | | | Recreational finance | — | | | — | | | — | | | — | | | — | | | Automobile | — | | | — | | | — | | | — | | | — | | | Other | 10 | | | — | | | — | | | 10 | | | .44 | | | Total | $ | 393 | | | $ | 70 | | | $ | 9 | | | $ | 472 | | | .35 | % | | | | Six Months Ended June 30, 2025 | | | | | | | | | | | Commercial and industrial | $ | 130 | | | $ | 17 | | | $ | 76 | | | $ | 223 | | | .36 | % | | Real estate: | | | | | | | | | | | Commercial | 399 | | | 53 | | | — | | | 452 | | | 2.24 | | | Residential builder and developer | — | | | — | | | — | | | — | | | — | | | Other commercial construction | 214 | | | — | | | — | | | 214 | | | 5.03 | | | Residential | 71 | | | 4 | | | 12 | | | 87 | | | .36 | | | Consumer: | | | | | | | | | | | Home equity lines and loans | — | | | — | | | — | | | — | | | — | | | Recreational finance | — | | | — | | | — | | | — | | | — | | | Automobile | — | | | — | | | — | | | — | | | — | | | Other | 10 | | | — | | | — | | | 10 | | | .44 | | | Total | $ | 824 | | | $ | 74 | | | $ | 88 | | | $ | 986 | | | .73 | % |
__________________________________________________________________________________(a)Predominantly payment deferrals. (b)Predominantly term extensions combined with payment deferrals or interest rate reductions. (c)Includes approximately $36 million and $70 million of loans guaranteed by government-related entities (predominantly first lien residential mortgage loans) for the three-month and six-month periods ended June 30, 2025, respectively. (d)Excludes unfunded commitments to extend credit totaling $10 million and $18 million for the three-month and six-month periods ended June 30, 2025, respectively. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | (Dollars in millions) | Term Extension | | Other (a) | | Combination of Modification Types (b) | | Total (c) (d) | | Percent of Total Loan Class | | Three Months Ended June 30, 2024 | | | | | | | | | | | Commercial and industrial | $ | 51 | | | $ | 13 | | | $ | — | | | $ | 64 | | | .11 | % | | Real estate: | | | | | | | | | | | Commercial | 168 | | | — | | | — | | | 168 | | | .74 | | | Residential builder and developer | 26 | | | — | | | — | | | 26 | | | 2.49 | | | Other commercial construction | 125 | | | — | | | — | | | 125 | | | 2.18 | | | Residential | 53 | | | 4 | | | 1 | | | 58 | | | .25 | | | | | | | | | | | | | Consumer: | | | | | | | | | | | Home equity lines and loans | — | | | — | | | — | | | — | | | — | | | Recreational finance | — | | | — | | | — | | | — | | | — | | | Automobile | — | | | — | | | — | | | — | | | — | | | Other | — | | | — | | | — | | | — | | | — | | | Total | $ | 423 | | | $ | 17 | | | $ | 1 | | | $ | 441 | | | .33 | % | | | | Six Months Ended June 30, 2024 | | | | | | | | | | | Commercial and industrial | $ | 152 | | | $ | 57 | | | $ | — | | | $ | 209 | | | .35 | % | | Real estate: | | | | | | | | | | | Commercial | 373 | | | — | | | 4 | | | 377 | | | 1.66 | | | Residential builder and developer | 27 | | | — | | | — | | | 27 | | | 2.62 | | | Other commercial construction | 197 | | | — | | | — | | | 197 | | | 3.44 | | | Residential | 95 | | | 8 | | | 2 | | | 105 | | | .46 | | | Consumer: | | | | | | | | | | | Home equity lines and loans | — | | | — | | | 1 | | | 1 | | | .03 | | | Recreational finance | — | | | — | | | — | | | — | | | — | | | Automobile | — | | | — | | | — | | | — | | | — | | | Other | — | | | — | | | — | | | — | | | — | | | Total | $ | 844 | | | $ | 65 | | | $ | 7 | | | $ | 916 | | | .68 | % |
__________________________________________________________________________________ (a)Predominantly payment deferrals or interest rate reductions. (b)Predominantly term extensions combined with interest rate reductions. (c)Includes approximately $47 million and $88 million of loans guaranteed by government-related entities (predominantly first lien residential mortgage loans) for the three-month and six-month periods ended June 30, 2024, respectively. (d)Excludes unfunded commitments to extend credit totaling $1 million and $27 million for the three-month and six-month periods ended June 30, 2024, respectively.
|
| Summary of Payment Status of Loans Modified |
The following table summarizes the payment status, at June 30, 2025 and 2024, of loans that were modified during the twelve-month periods ended June 30, 2025 and 2024. | | | | | | | | | | | | | | | | | | | | | | | | | Payment Status (Amortized Cost) (a) | | (Dollars in millions) | Current | | 30-89 Days Past Due | | Past Due 90 Days or More (b) | | Total | | Twelve Months Ended June 30, 2025 | | | | | | | | | Commercial and industrial | $ | 281 | | | $ | 7 | | | $ | 63 | | | $ | 351 | | | Real estate: | | | | | | | | | Commercial | 598 | | | 54 | | | 1 | | | 653 | | | Residential builder and developer | — | | | — | | | — | | | — | | | Other commercial construction | 279 | | | — | | | 5 | | | 284 | | | Residential (c) | 77 | | | 48 | | | 41 | | | 166 | | | | | | | | | | | Consumer: | | | | | | | | | Home equity lines and loans | 1 | | | — | | | — | | | 1 | | | Recreational finance | 1 | | | — | | | — | | | 1 | | | Automobile | — | | | — | | | — | | | — | | | Other | 10 | | | — | | | — | | | 10 | | | Total | $ | 1,247 | | | $ | 109 | | | $ | 110 | | | $ | 1,466 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Twelve Months Ended June 30, 2024 | | | | | | | | | Commercial and industrial | $ | 294 | | | $ | 15 | | | $ | 3 | | | $ | 312 | | | Real estate: | | | | | | | | | Commercial | 545 | | | 42 | | | 14 | | | 601 | | | Residential builder and developer | 28 | | | — | | | — | | | 28 | | | Other commercial construction | 344 | | | 2 | | | — | | | 346 | | | Residential (c) | 110 | | | 54 | | | 29 | | | 193 | | | | | | | | | | | Consumer: | | | | | | | | | Home equity lines and loans | 2 | | | — | | | — | | | 2 | | | Recreational finance | — | | | — | | | — | | | — | | | Automobile | — | | | — | | | — | | | — | | | Other | — | | | — | | | — | | | — | | | Total | $ | 1,323 | | | $ | 113 | | | $ | 46 | | | $ | 1,482 | |
__________________________________________________________________________________(a) At the respective period end. (b) Loan modifications predominantly comprised of term extensions or term extensions combined with payment deferrals. (c) Includes loans guaranteed by government-related entities classified as 30 to 89 days past due of $40 million and $45 million and as past due 90 days or more of $35 million and $27 million at June 30, 2025 and 2024, respectively.
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