v3.26.1
Acquisition Activity (Tables)
3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisition Consideration
The following table includes the preliminary fair value of the identifiable tangible and intangible assets and liabilities from FirstBank:
Table 38: Acquisition Consideration
January 5, 2026
In millions, except share dataFair Value
Acquisition consideration
Common stock issued (13,715,133 shares) (a)
$2,943 
Preferred stock issued (115,200 shares)
119 
Cash paid1,238 
Total consideration$4,300 
Assets
Cash and due from banks$162 
Interest-earning deposits with banks996 
Investment securities8,278 
Net loans15,177 
Core deposit intangible761 
Other1,273 
Total assets$26,647 
Liabilities
Deposits$23,076 
Borrowed funds and other1,594 
Total liabilities $24,670 
Net assets$1,977 
Goodwill$2,323 
(a)    Amount includes $29 million of deferred restricted stock compensation and $13 million withheld to satisfy certain tax obligations.
Fair Value and Unpaid Principal Balance of Loans Acquired
The following table includes the fair value and unpaid principal balance of the loans from the FirstBank acquisition.

Table 39: Fair Value and Unpaid Principal Balance of Loans from the FirstBank Acquisition

January 5, 2026
In millionsUnpaid Principal
 Balance (a)
Fair Value
Loans
Commercial
Commercial and industrial $3,354 $3,165 
Commercial real estate5,163 4,835 
Total commercial $8,517 $8,000 
Consumer
Residential real estate$7,061 $6,615 
Home equity499 477 
Credit card and other consumer93 85 
Total consumer $7,653 $7,177 
Total $16,170 $15,177 
(a) Amounts exclude $45 million of acquired loan net charge-offs on certain loans previously charged off by FirstBank, which were written up upon acquisition to unpaid principal balance as required by purchase accounting.
PCD Loan Activity The following table presents PCD loans as of January 5, 2026.
Table 40: PCD Loan Activity
January 5, 2026
In millions
Principal balance $415 
ACL at acquisition(93)
Non-credit discount (11)
Purchase price $311 
Schedule Of Financing Receivable, Purchased Loans The following table presents PSL activity as of January 5, 2026
Table 41: PSL Activity
January 5, 2026
In millions
Principal balance $15,720 
ACL at acquisition (229)
Non-credit discount (672)
Purchase price $14,819