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BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 16 - BUSINESS SEGMENTS
The Company is managed by its CODM, the Chief Executive Officer, on a segment basis. The Company’s two reportable business segments are Consumer Banking and Commercial Banking. The business segments are determined based on the products and services provided, or the type of customer served. Each business segment has a segment head that reports directly to the Chief Executive Officer, who has final authority over resource allocation decisions and performance assessment. The business segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer.
The CODM utilizes segment pretax profit or loss as the primary measure to allocate resources to the Company’s business segments during the annual budgeting and forecasting process. This measure is also used to assess the performance of each segment, with a focus on monitoring net interest income, noninterest income, and noninterest expense. To ensure effective oversight, the CODM participates in monthly business review meetings, where budget- and forecast-to-actual variances for pretax profit or loss and its components are analyzed. These evaluations inform the CODM’s decisions regarding the allocation of capital and resources across the business segments, ensuring alignment with the Company’s strategic objectives.
Developing and applying methodologies used to allocate items among the business segments is a dynamic process. Accordingly, financial results may be revised periodically as management systems are enhanced, methods of evaluating performance or product lines are updated, or organizational structure changes occur.
For more information on the Company’s business segments, as well as Other non-segment operations, see Note 24 in the Company’s 2025 Form 10-K.
The following tables present certain financial data of the Company’s business segments:
Three Months Ended March 31, 2026
(dollars in millions)Consumer BankingCommercial BankingOtherConsolidated
Net interest income$1,309 $456 ($203)$1,562 
Noninterest income299 263 44 606 
Total revenue1,608 719 (159)2,168 
Direct expenses(1)(2)
724 228 426 1,378 
Indirect expenses(3)
304 106 (410)— 
Noninterest expense1,028 334 16 1,378 
Profit (loss) before provision (benefit) for credit losses580 385 (175)790 
Provision (benefit) for credit losses71 64 5 140 
Income (loss) before income tax expense (benefit)509 321 (180)650 
Income tax expense (benefit)131 78 (76)133 
Net income (loss)$378 $243 ($104)$517 
Total average assets$83,870 $67,737 $72,617 $224,224 
(1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.
(2) Includes depreciation and amortization of $31 million, $4 million, and $74 million, respectively, for the Consumer Banking, Commercial Banking, and Other business segments.
(3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.
Three Months Ended March 31, 2025
(dollars in millions)Consumer BankingCommercial BankingOtherConsolidated
Net interest income$1,193 $441 ($243)$1,391 
Noninterest income297 215 32 544 
Total revenue 1,490 656 (211)1,935 
Direct expenses(1)(2)
669 218 427 1,314 
Indirect expenses(3)
285 109 (394)— 
Noninterest expense954 327 33 1,314 
Profit (loss) before provision (benefit) for credit losses536 329 (244)621 
Provision (benefit) for credit losses86 77 (10)153 
Income (loss) before income tax expense (benefit)450 252 (234)468 
Income tax expense (benefit)114 56 (75)95 
Net income (loss)$336 $196 ($159)$373 
Total average assets $77,534 $65,366 $73,409 $216,309 
(1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.
(2) Includes depreciation and amortization of $31 million, $5 million, and $75 million, respectively, for the Consumer Banking, Commercial Banking, and Other business segments.
(3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.