v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 2,972 $ 3,014
Other short-term investments [1] 13,043 17,120
Available-for-sale debt and other securities (amortized cost of $41,731 and $43,878) 38,270 39,547
Held-to-maturity securities (fair value of $11,547 and $10,965) 11,630 11,278
Trading debt securities 1,324 1,185
Equity securities 404 341
Loans and leases held for sale (includes $572 and $574 of residential mortgage loans measured at fair value) 646 640
Portfolio loans and leases [1] 122,396 119,791
Allowance for loan and lease losses [1] (2,412) (2,352)
Portfolio loans and leases, net 119,984 117,439
Bank premises and equipment (includes $9 and $14 held for sale) 2,560 2,475
Operating lease equipment 344 319
Goodwill 4,918 4,918
Intangible assets 75 90
Servicing rights 1,629 1,704
Other assets [1] 12,192 12,857
Total Assets 209,991 212,927
Deposits:    
Noninterest-bearing deposits 42,174 41,038
Interest-bearing deposits 122,033 126,214
Total deposits 164,207 167,252
Federal funds purchased 178 204
Other short-term borrowings 3,393 4,450
Accrued taxes, interest and expenses 1,970 2,137
Other liabilities [1] 4,627 4,902
Long-term debt [1] 14,492 14,337
Total Liabilities 188,867 193,282
Equity    
Common stock [2] 2,051 2,051
Preferred stock [3] 2,116 2,116
Capital surplus 3,794 3,804
Retained earnings 24,718 24,150
Accumulated other comprehensive loss (3,546) (4,636)
Treasury stock [2] (8,009) (7,840)
Total Equity 21,124 19,645
Total Liabilities and Equity $ 209,991 $ 212,927
[1] Includes $43 and $51 of other short-term investments, $757 and $1,000 of portfolio loans and leases, $(14) and $(19) of ALLL, $6 and $5 of other assets, $11 and $12 of other liabilities and $664 and $889 of long-term debt from consolidated VIEs that are included in their respective captions above at June 30, 2025 and December 31, 2024, respectively. For further information, refer to Note 7.
[2] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at June 30, 2025 – 667,709,709 (excludes 256,182,872 treasury shares), December 31, 2024 – 669,853,830 (excludes 254,038,751 treasury shares).
[3] 500,000 shares of no par value preferred stock were authorized at both June 30, 2025 and December 31, 2024. There were 422,000 unissued shares of undesignated no par value preferred stock at both June 30, 2025 and December 31, 2024. Each issued share of no par value preferred stock has a liquidation preference of $25,000. 500,000 shares of no par value Class B preferred stock were authorized at both June 30, 2025 and December 31, 2024. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both June 30, 2025 and December 31, 2024. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.