v3.25.2
INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Schedule of Investment Securities
The following schedule presents the amortized cost and estimated fair values of our AFS and HTM securities:
June 30, 2025
(In millions)Amortized
cost
Gross unrealized gains 1
Gross unrealized lossesEstimated
fair value
Available-for-sale
U.S. Treasury securities$1,201 $10 $110 $1,101 
U.S. Government agencies and corporations:
Agency securities376 — 20 356 
Agency guaranteed mortgage-backed securities7,302 2 1,090 6,214 
Small Business Administration loan-backed securities400 — 16 384 
Municipal securities1,102 — 66 1,036 
Other debt securities25 — — 25 
Total available-for-sale10,406 12 1,302 9,116 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities143 — 5 138 
Agency guaranteed mortgage-backed securities8,843 49 73 8,819 
Municipal securities286 — 14 272 
Total held-to-maturity9,272 49 92 9,229 
Total investment securities$19,678 $61 $1,394 $18,345 
December 31, 2024
(In millions)Amortized
cost
Gross unrealized gains 1
Gross unrealized lossesEstimated
fair value
Available-for-sale
U.S. Treasury securities$781 $— $119 $662 
U.S. Government agencies and corporations:
Agency securities441 — 26 415 
Agency guaranteed mortgage-backed securities7,713 1 1,263 6,451 
Small Business Administration loan-backed securities455 — 21 434 
Municipal securities1,186 — 78 1,108 
Other debt securities25 — — 25 
Total available-for-sale10,601 1 1,507 9,095 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities148 — 8 140 
Agency guaranteed mortgage-backed securities9,202 2 263 8,941 
Municipal securities319 — 18 301 
Total held-to-maturity9,669 2 289 9,382 
Total investment securities$20,270 $3 $1,796 $18,477 
1 Gross unrealized gains for the respective AFS security categories without values were individually less than $1 million.
Schedule of Contractual Maturities Debt Securities
The following schedule presents the amortized cost and weighted average yields of debt securities, categorized by the remaining contractual maturity of principal payments at June 30, 2025. The schedule does not reflect the impact of interest rate resets or fair value hedges. Additionally, the remaining contractual principal maturities presented do not represent the portfolio's duration, as they do not incorporate expected prepayments or amortization, which generally result in measured durations that are shorter than contractual maturities.
June 30, 2025
Total
debt securities		Due in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten years
(Dollar amounts in millions)Amortized costAverage yieldAmortized costAverage yieldAmortized costAverage yieldAmortized costAverage yieldAmortized costAverage yield
Available-for-sale
U.S. Treasury securities$1,201 3.62 %$— — %$302 3.99 %$498 4.42 %$401 2.35 %
U.S. Government agencies and corporations:
Agency securities376 3.09 40 2.90 57 3.44 172 2.93 107 3.23 
Agency guaranteed mortgage-backed securities7,302 2.02 8 1.32 106 1.97 1,321 2.11 5,867 2.00 
Small Business Administration loan-backed securities400 4.60 1 4.44 10 5.56 112 3.80 277 4.89 
Municipal securities 1
1,102 2.26 147 3.37 323 2.41 612 1.91 20 2.33 
Other debt securities25 8.16 — — 10 9.51 — — 15 7.26 
Total available-for-sale securities
10,406 2.38 196 3.19 808 3.14 2,715 2.61 6,687 2.17 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities143 4.17 — — — — 30 3.49 113 4.35 
Agency guaranteed mortgage-backed securities
8,843 1.84 — — — — 39 1.86 8,804 1.84 
Municipal securities 1
286 3.32 32 3.27 132 2.88 115 3.66 7 5.95 
Total held-to-maturity securities9,272 1.92 32 3.27 132 2.88 184 3.25 8,924 1.87 
Total investment securities$19,678 2.16 $228 3.21 $940 3.11 $2,899 2.65 $15,611 2.00 
1 The yields on tax-exempt securities are calculated on a tax-equivalent basis.
Schedule of Amount of Gross Unrealized Losses for Debt Securities and Estimated Fair Value
The following schedule presents gross unrealized losses for AFS securities and the estimated fair value, categorized by the length of time the securities have been in an unrealized loss position:
June 30, 2025
Less than 12 months12 months or moreTotal
(In millions)Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value
Available-for-sale
U.S. Treasury securities$— $— $110 $291 $110 $291 
U.S. Government agencies and corporations:
Agency securities— 11 20 345 20 356 
Agency guaranteed mortgage-backed securities— 12 1,090 5,977 1,090 5,989 
Small Business Administration loan-backed securities— 4 16 343 16 347 
Municipal securities— 51 66 904 66 955 
Other— 15 — — — 15 
Total available-for-sale investment securities$— $93 $1,302 $7,860 $1,302 $7,953 
December 31, 2024
Less than 12 months12 months or moreTotal
(In millions)Gross
unrealized
losses		Estimated
 fair
 value		Gross
unrealized
losses		Estimated
 fair
 value		Gross
unrealized
losses		Estimated
 fair
 value
Available-for-sale
U.S. Treasury securities$3 $198 $116 $285 $119 $483 
U.S. Government agencies and corporations:
Agency securities— 3 26 403 26 406 
Agency guaranteed mortgage-backed securities— 86 1,263 6,171 1,263 6,257 
Small Business Administration loan-backed securities— 35 21 387 21 422 
Municipal securities— 68 78 984 78 1,052 
Other— — — — — — 
Total available-for-sale investment securities$3 $390 $1,504 $8,230 $1,507 $8,620 
Schedule of Interest Income by Security Type
The following schedule presents interest income categorized by investment security type:
Three Months Ended June 30,
20252024
(In millions)TaxableNontaxableTotalTaxableNontaxableTotal
Available-for-sale$65 $7 $72 $75 $8 $83 
Held-to-maturity50 1 51 55 1 56 
Total investment securities$115 $8 $123 $130 $9 $139 
Six Months Ended June 30,
20252024
(In millions)TaxableNontaxableTotalTaxableNontaxableTotal
Available-for-sale$130 $14 $144 $152 $16 $168 
Held-to-maturity102 2 104 111 2 113 
Total investment securities$232 $16 $248 $263 $18 $281