Fair Value (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
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| Fair Value Disclosures [Abstract] |
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| Fair Value Measurements - Recurring Basis Summary |
The following table summarizes our assets and liabilities measured at fair value on a recurring basis, including instruments for which we have elected the fair value option. Table 72: Fair Value Measurements – Recurring Basis Summary
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | | December 31, 2025 | | | In millions | Level 1 | | Level 2 | | Level 3 | | Total
Fair Value | | | Level 1 | | Level 2 | | Level 3 | | Total
Fair Value | | | Assets | | | | | | | | | | | | | | | | | | | Residential mortgage loans held for sale | $ | — | | | $ | 508 | | | $ | 74 | | | $ | 582 | | | | $ | — | | | $ | 552 | | | $ | 108 | | | $ | 660 | | | | Commercial mortgage loans held for sale | — | | | 620 | | | — | | | 620 | | | | — | | | 1,059 | | | — | | | 1,059 | | | | | | | | | | | | | | | | | | | | | | Securities available-for-sale | | | | | | | | | | | | | | | | | | | U.S. Treasury and government agencies | 25,065 | | | 1,434 | | | — | | | 26,499 | | | | 27,871 | | | 1,026 | | | — | | | 28,897 | | | | Residential mortgage-backed | | | | | | | | | | | | | | | | | | | Agency | — | | | 35,653 | | | — | | | 35,653 | | | | — | | | 30,663 | | | — | | | 30,663 | | | | Non-agency | — | | | — | | | 533 | | | 533 | | | | — | | | — | | | 548 | | | 548 | | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | | | | Agency | — | | | 3,412 | | | — | | | 3,412 | | | | — | | | 3,372 | | | — | | | 3,372 | | | | Non-agency | — | | | 147 | | | 79 | | | 226 | | | | — | | | 173 | | | 79 | | 252 | | | | Asset-backed | — | | | 2,225 | | | 84 | | | 2,309 | | | | — | | | 2,210 | | | 87 | | | 2,297 | | | | Other | — | | | 2,385 | | | 55 | | | 2,440 | | | | — | | | 2,051 | | | 55 | | | 2,106 | | | | Total securities available-for-sale | 25,065 | | | 45,256 | | | 751 | | | 71,072 | | | | 27,871 | | | 39,495 | | | 769 | | | 68,135 | | | | Loans | — | | | 519 | | | 599 | | | 1,118 | | | | — | | | 492 | | | 620 | | | 1,112 | | | | Equity investments (a) | 718 | | | — | | | 2,341 | | | 3,408 | | | | 820 | | | — | | | 2,503 | | | 3,642 | | | | Residential mortgage servicing rights | — | | | — | | | 2,786 | | | 2,786 | | | | — | | | — | | | 2,638 | | | 2,638 | | | | Commercial mortgage servicing rights | — | | | — | | | 1,030 | | | 1,030 | | | | — | | | — | | | 1,021 | | | 1,021 | | | | Trading securities (b) | 2,401 | | | 4,265 | | | — | | | 6,666 | | | | 2,662 | | | 4,104 | | | — | | | 6,766 | | | | Financial derivatives (b) (c) | 6 | | | 3,074 | | | 5 | | | 3,085 | | | | 6 | | 2,660 | | | 6 | | | 2,672 | | | | Other assets | 503 | | | 135 | | | 15 | | | 653 | | | | 506 | | | 162 | | | 14 | | | 682 | | | | Total assets (d) | $ | 28,693 | | | $ | 54,377 | | | $ | 7,601 | | | $ | 91,020 | | | | $ | 31,865 | | | $ | 48,524 | | | $ | 7,679 | | | $ | 88,387 | | | | Liabilities | | | | | | | | | | | | | | | | | | | Interest-bearing deposits | $ | — | | | $ | 728 | | | $ | — | | | $ | 728 | | | | $ | — | | | $ | 3,642 | | | $ | — | | | $ | 3,642 | | | | Other borrowed funds | 1,042 | | | 250 | | | 5 | | | 1,297 | | | | 752 | | | 189 | | | 7 | | | 948 | | | | Financial derivatives (c) (e) | 7 | | | 3,967 | | | 35 | | | 4,009 | | | | 1 | | | 3,546 | | | 79 | | | 3,626 | | | | Other liabilities | — | | | 21 | | | 137 | | | 158 | | | | — | | | 23 | | | 137 | | | 160 | | | | Total liabilities (f) | $ | 1,049 | | | $ | 4,966 | | | $ | 177 | | | $ | 6,192 | | | | $ | 753 | | | $ | 7,400 | | | $ | 223 | | | $ | 8,376 | | |
(a)Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. (b)Included in Other assets on the Consolidated Balance Sheet. (c)Amounts at March 31, 2026 and December 31, 2025 are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and cash collateral held or placed with the same counterparty. See Note 13 Financial Derivatives for additional information related to derivative offsetting. (d)Total assets at fair value as a percentage of total consolidated assets was 15% at both March 31, 2026 and December 31, 2025. Level 3 assets as a percentage of total assets at fair value was 8% and 9% at March 31, 2026 and December 31, 2025, respectively. Level 3 assets as a percentage of total consolidated assets was 1% at both March 31, 2026 and December 31, 2025. (e)Included in Other liabilities on the Consolidated Balance Sheet. (f)Total liabilities at fair value as a percentage of total consolidated liabilities was 1% and 2% at March 31, 2026 and December 31, 2025, respectively. Level 3 liabilities as a percentage of total liabilities at fair value was 3% at both March 31, 2026 and December 31, 2025. Level 3 liabilities as a percentage of total consolidated liabilities was less than 1% at both March 31, 2026 and December 31, 2025.
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| Reconciliation of Level 3 Assets and Liabilities |
Reconciliations of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for the three months ended March 31, 2026 and 2025 are as follows:
Table 73: Reconciliation of Level 3 Assets and Liabilities Three Months Ended March 31, 2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total realized / unrealized
gains or losses for the
period (a) | | | | | | | | | | | Unrealized
gains/losses for the period
on assets and
liabilities held on
Consolidated
Balance Sheet at
Mar. 31, 2026 (a) (c) | Level 3 Instruments Only
In millions | Fair Value Dec. 31, 2025 | Included in
Earnings | Included
in Other
comprehensive
income (b) | Purchases | Sales | Issuances | Settlements | Transfers
into
Level 3 | | Transfers
out of
Level 3 | | Impact from FirstBank Acquisition | Fair
Value Mar. 31, 2026 | | Assets | | | | | | | | | | | | | | | | | Residential mortgage
loans held for sale | $ | 108 | | $ | — | | | $ | — | | $ | — | | $ | (33) | | $ | — | | $ | (2) | | $ | 2 | | | $ | (1) | | (d) | $ | — | | $ | 74 | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Securities available-for-sale | | | | | | | | | | | | | | | | | Residential mortgage-
backed non-agency | 548 | | 3 | | | (3) | | — | | — | | — | | (15) | | — | | | — | | | — | | 533 | | — | | | | Commercial mortgage- backed non-agency | 79 | | — | | | — | | — | | — | | — | | — | | — | | | — | | | — | | 79 | | — | | | | Asset-backed | 87 | | — | | | — | | — | | — | | — | | (3) | | — | | | — | | | — | | 84 | | — | | | | Other | 55 | | 1 | | | — | | — | | — | | — | | (1) | | — | | | — | | | — | | 55 | | — | | | Total securities
available-for-sale | 769 | | 4 | | | (3) | | — | | — | | — | | (19) | | — | | | — | | | — | | 751 | | — | | | | Loans | 620 | | 2 | | | — | | 6 | | — | | — | | (19) | | — | | | (10) | | (d) | — | | 599 | | 2 | | | | Equity investments | 2,503 | | (26) | | | — | | 58 | | (194) | | — | | — | | — | | | — | | | — | | 2,341 | | (36) | | | Residential mortgage
servicing rights | 2,638 | | (13) | | | — | | 214 | | — | | 10 | | (73) | | — | | | — | | | 10 | | 2,786 | | (13) | | | Commercial mortgage
servicing rights | 1,021 | | 49 | | | — | | 16 | | — | | 15 | | (71) | | — | | | — | | | — | | 1,030 | | 49 | | | | | | | | | | | | | | | | | | | | | Financial derivatives | 6 | | 8 | | | — | | — | | — | | — | | (9) | | — | | | — | | | — | | 5 | | 9 | | | | Other assets | 14 | | — | | | — | | 1 | | — | | — | | — | | — | | | — | | | — | | 15 | | — | | | | Total assets | $ | 7,679 | | $ | 24 | | | $ | (3) | | $ | 295 | | $ | (227) | | $ | 25 | | $ | (193) | | $ | 2 | | | $ | (11) | | | $ | 10 | | $ | 7,601 | | $ | 11 | | | | Liabilities | | | | | | | | | | | | | | | | | | Other borrowed funds | $ | 7 | | $ | — | | | $ | — | | $ | — | | $ | — | | $ | 3 | | $ | (5) | | $ | — | | | $ | — | | | $ | — | | $ | 5 | | $ | — | | | | Financial derivatives | 79 | | 25 | | | — | | — | | 8 | | — | | (77) | | — | | | — | | | — | | 35 | | 32 | | | | Other liabilities | 137 | | (5) | | | — | | — | | — | | 214 | | (209) | | — | | | — | | | — | | 137 | | (1) | | | | Total liabilities | $ | 223 | | $ | 20 | | | $ | — | | $ | — | | $ | 8 | | $ | 217 | | $ | (291) | | $ | — | | | $ | — | | | $ | — | | $ | 177 | | $ | 31 | | | | Net gains (losses) | | $ | 4 | | (e) | | | | | | | | | | | | $ | (20) | | (f) |
(Continued from previous page)
Three Months Ended March 31, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total realized / unrealized
gains or losses for the
period (a) | | | | | | | | | Unrealized
gains/losses for the
period
on assets and liabilities held on Consolidated Balance Sheet at Mar. 31, 2025 (a) (c) | Level 3 Instruments Only
In millions | Fair Value Dec. 31, 2024 | Included in Earnings | Included in Other comprehensive income (b) | Purchases | Sales | Issuances | Settlements | Transfers into Level 3 | Transfers out of Level 3 | | Fair Value Mar. 31, 2025 | | Assets | | | | | | | | | | | | | | | Residential mortgage
loans held for sale | $ | 68 | | $ | — | | | $ | — | | $ | 41 | | $ | — | | $ | — | | $ | (4) | | $ | 4 | | $ | (5) | | (d) | $ | 104 | | $ | — | | | Commercial mortgage
loans held for sale | 4 | | — | | | — | | — | | — | | — | | — | | — | | — | | | 4 | | — | | | | | | | | | | | | | | | | | | | Securities available-for-sale | | | | | | | | | | | | | | | Residential mortgage-
backed non-agency | 603 | | 2 | | | 8 | | — | | — | | — | | (17) | | — | | — | | | 596 | | — | | | Commercial mortgage-
backed non-agency | 103 | | (3) | | | (1) | | — | | — | | — | | — | | — | | — | | | 99 | | (3) | | | | Asset-backed | 93 | | 1 | | | 1 | | — | | — | | — | | (3) | | — | | — | | | 92 | | — | | | | Other | 54 | | — | | | — | | — | | — | | — | | — | | — | | — | | | 54 | | — | | | Total securities
available-for-sale | 853 | | — | | | 8 | | — | | — | | — | | (20) | | — | | — | | | 841 | | (3) | | | | Loans | 670 | | 5 | | | — | | 7 | | — | | — | | (19) | | — | | — | | | 663 | | 5 | | | | Equity investments | 2,111 | | 46 | | | — | | 176 | | (110) | | — | | — | | — | | — | | | 2,223 | | 25 | | | Residential mortgage
servicing rights | 2,626 | | (51) | | | — | | 1 | | — | | 7 | | (60) | | — | | — | | | 2,523 | | (51) | | | Commercial mortgage
servicing rights | 1,085 | | (2) | | | — | | 27 | | — | | 9 | | (78) | | — | | — | | | 1,041 | | (2) | | | | | | | | | | | | | | | | | | | Financial derivatives | 4 | | 13 | | | — | | — | | — | | — | | (7) | | — | | — | | | 10 | | 13 | | | | Other assets | 10 | | — | | | — | | 2 | | — | | — | | — | | — | | — | | | 12 | | — | | | | Total assets | $ | 7,431 | | $ | 11 | | | $ | 8 | | $ | 254 | | $ | (110) | | $ | 16 | | $ | (188) | | $ | 4 | | $ | (5) | | | $ | 7,421 | | $ | (13) | | | | Liabilities | | | | | | | | | | | | | | | | Other borrowed funds | $ | 10 | | $ | — | | | $ | — | | $ | — | | $ | — | | $ | 5 | | $ | (2) | | $ | — | | $ | — | | | $ | 13 | | $ | — | | | | Financial derivatives | 150 | | 37 | | | — | | — | | — | | — | | (26) | | — | | — | | | 161 | | 38 | | | | Other liabilities | 177 | | 10 | | | — | | — | | — | | — | | (58) | | — | | — | | | 129 | | 7 | | | | Total liabilities | $ | 337 | | $ | 47 | | | $ | — | | $ | — | | $ | — | | $ | 5 | | $ | (86) | | $ | — | | $ | — | | | $ | 303 | | $ | 45 | | | | Net gains (losses) | | $ | (36) | | (e) | | | | | | | | | | $ | (58) | | (f) |
(a)Losses for assets are bracketed while losses for liabilities are not. (b)The difference in unrealized gains and losses for the period included in Other comprehensive income and changes in unrealized gains and losses for the period included in Other comprehensive income for securities available-for-sale held at the end of the reporting period were insignificant. (c)The amount of the total gains or losses for the period included in earnings that is attributable to the change in unrealized gains or losses related to those assets and liabilities held at the end of the reporting period. (d)Residential mortgage loan transfers out of Level 3 are primarily driven by residential mortgage loans transferring to OREO as well as reclassification of mortgage loans held for sale to held for investment. (e)Net gains (losses) realized and unrealized included in earnings related to Level 3 assets and liabilities included amortization and accretion. The amortization and accretion amounts are included in Interest income on the Consolidated Income Statement and the remaining net gains (losses) realized and unrealized are included in Noninterest income on the Consolidated Income Statement. (f)Net unrealized gains (losses) related to assets and liabilities held at the end of the reporting period are included in Noninterest income on the Consolidated Income Statement.
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| Fair Value Measurements - Recurring Quantitative Information |
Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows:
Table 74: Fair Value Measurements – Recurring Quantitative Information
March 31, 2026 | | | | | | | | | | | | | | | Level 3 Instruments Only
Dollars in millions | Fair Value | Valuation Techniques | Unobservable Inputs | Range (Weighted-Average) (a) | | March 31, 2026 | | | | | | | | | | | | | | | | | | | Residential mortgage-backed
non-agency securities | 533 | | Priced by a third-party vendor using a discounted cash flow pricing model | Constant prepayment rate | 1.0% - 23.1% (2.1%) | | Constant default rate | 0.0% - 13.5% (2.0%) | | Loss severity | 41.9% weighted-average | | Spread over the benchmark curve (b) | 158bps weighted-average | | | | | | | | | | | | | Loans - residential real estate non- government insured | 460 | | Consensus pricing (c) | Cumulative default rate | 3.6% - 100.0% (53.5%) | | Loss severity | 5.2% weighted-average | | Discount rate | 5.5% - 7.5% (5.7%) | | | | | | | | | | | | | | | | | | | | | | | Equity investments | 2,341 | | Multiple of adjusted earnings | Multiple of earnings | 5.5x - 22.0x (10.8x) | | Residential mortgage servicing rights | 2,786 | | Discounted cash flow | Constant prepayment rate | 0.0% - 42.9% (6.8%) | | Spread over the benchmark curve (b) | 343bps - 1,658bps (709bps) | | Commercial mortgage servicing rights | 1,030 | | Discounted cash flow | Constant prepayment rate | 4.2% - 7.1% (4.4%) | | Discount rate | 8.8% - 11.1% (10.8%) | | | | | | | | | | Insignificant Level 3 assets, net of
liabilities (d) | 274 | | | | | | Total Level 3 assets, net of liabilities (e) | $ | 7,424 | | | | | | December 31, 2025 | | | | | | Residential mortgage loans held for sale | $ | 108 | | Consensus pricing (c) | Cumulative default rate | 3.6% - 100.0% (33.8%) | | Loss severity | 5.7% weighted-average | | Discount rate | 5.5% - 9.0% (5.9%) | Residential mortgage-backed
non-agency securities | 548 | | Priced by a third-party vendor using a discounted cash flow pricing model | Constant prepayment rate | 1.0% - 23.1% (3.7%) | | Constant default rate | 0.0% - 13.5% (1.9%) | | Loss severity | 15.0% - 100.0% (42.5%) | | Spread over the benchmark curve (b) | 176bps weighted-average | | | | | | | | | | | | Loans - residential real estate
non-government insured | 474 | | Consensus pricing (c) | Cumulative default rate | 3.6% - 100.0% (52.7%) | | Loss severity | 5.0% weighted-average | | Discount rate | 5.5% - 7.5% (5.7%) | | | | | | | | | | | | | | | | | | | | | | | Equity investments | 2,503 | | Multiple of adjusted earnings | Multiple of earnings | 5.5x - 24.0x (10.8x) | | Residential mortgage servicing rights | 2,638 | | Discounted cash flow | Constant prepayment rate | 0.0% - 41.4% (6.7%) | | Spread over the benchmark curve (c) | 314bps - 3,270bps (734bps) | | Commercial mortgage servicing rights | 1,021 | | Discounted cash flow | Constant prepayment rate | 4.3% - 7.0% (4.4%) | | Discount rate | 8.7% - 10.9% (10.6%) | | | | | | | | | | | | | | | | | | | Insignificant Level 3 assets, net of
liabilities (d) | 164 | | | | | | Total Level 3 assets, net of liabilities (e) | $ | 7,456 | | | | |
(a)Unobservable inputs were weighted by the relative fair value of the instruments. (b)The assumed yield spread over the benchmark curve for each instrument is generally intended to incorporate non-interest rate risks, such as credit and liquidity risks. (c)Consensus pricing refers to fair value estimates that are generally internally developed using information such as dealer quotes or other third-party provided valuations or comparable asset prices. (d)Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes certain financial derivative assets and liabilities, certain debt securities available-for-sale, government insured residential real estate loans, home equity loans, other assets, other borrowed funds and other liabilities. At March 31, 2026, this amount also includes residential mortgage loans held for sale. (e)Consists of total Level 3 assets of $7.6 billion and total Level 3 liabilities of $0.2 billion as of March 31, 2026 and $7.7 billion and $0.2 billion as of December 31, 2025, respectively.
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| Fair Value Measurements - Nonrecurring |
Assets measured at fair value on a nonrecurring basis follow:
Table 75: Fair Value Measurements – Nonrecurring (a) (b) (c) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value | | Gains (Losses)
Three months ended | | | | | In millions | March 31
2026 | | December 31
2025 | | March 31
2026 | | March 31
2025 | | | | | | | Assets | | | | | | | | | | | | | | Nonaccrual loans | $ | 398 | | | $ | 510 | | | $ | (28) | | | $ | (83) | | | | | | | | Equity investments | 51 | | | 147 | | | (6) | | | (6) | | | | | | | | Loans held for sale | — | | | 13 | | | — | | | (4) | | | | | | | | OREO, foreclosed and other assets | 48 | | | 49 | | | (1) | | | — | | | | | | | | Long-lived assets | 6 | | | 6 | | | (1) | | | (2) | | | | | | | | Total assets | $ | 503 | | | $ | 725 | | | $ | (36) | | | $ | (95) | | | | | | |
(a)All Level 3 for the periods presented except for $13 million included in Loans held for sale categorized as Level 2 at December 31, 2025. (b)Valuation techniques applied are fair value of property or collateral and discounted cash flow. (c)Unobservable inputs used are appraised value/sales price, broker opinions, market rate of return or projected income/required improvement costs. Additional quantitative information is not meaningful for the periods presented.
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| Fair Value Option - Fair Value and Principal Balances |
Fair values and aggregate unpaid principal balances of items for which we elected the fair value option are as follows:
Table 76: Fair Value Option – Fair Value and Principal Balances | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | | In millions | Fair Value (a) | | Aggregate Unpaid
Principal Balance | | Difference | | Fair Value (a) | | Aggregate Unpaid
Principal Balance | | Difference | | | Assets | | | | | | | | | | | | | | Residential mortgage loans held for sale | | | | | | | | | | | | | | Accruing loans less than 90 days past due | $ | 562 | | | $ | 563 | | | $ | (1) | | | $ | 641 | | | $ | 636 | | | $ | 5 | | | | Accruing loans 90 days or more past due | 6 | | | 6 | | | — | | | 5 | | | 5 | | | — | | | | Nonaccrual loans | 14 | | | 16 | | | (2) | | | 14 | | | 15 | | | (1) | | | | Total | $ | 582 | | | $ | 585 | | | $ | (3) | | | $ | 660 | | | $ | 656 | | | $ | 4 | | | | Commercial mortgage loans held for sale (b) (c) | | | | | | | | | | | | | | Accruing loans less than 90 days past due | $ | 620 | | | $ | 617 | | | $ | 3 | | | $ | 1,059 | | | $ | 1,059 | | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Loans | | | | | | | | | | | | | | Accruing loans less than 90 days past due | $ | 704 | | | $ | 785 | | | $ | (81) | | | $ | 716 | | | $ | 796 | | | $ | (80) | | | | Accruing loans 90 days or more past due | 190 | | | 202 | | | (12) | | | 159 | | | 172 | | | (13) | | | | Nonaccrual loans | 224 | | | 311 | | | (87) | | | 237 | | | 327 | | | (90) | | | | Total | $ | 1,118 | | | $ | 1,298 | | | $ | (180) | | | $ | 1,112 | | | $ | 1,295 | | | $ | (183) | | | | Other assets | $ | 135 | | | $ | 131 | | | $ | 4 | | | $ | 162 | | | $ | 154 | | | $ | 8 | | | | Liabilities | | | | | | | | | | | | | | Interest-bearing deposits | $ | 728 | | | $ | 729 | | | $ | (1) | | | $ | 3,642 | | | $ | 3,641 | | | $ | 1 | | | | Other borrowed funds | $ | 34 | | | $ | 35 | | | $ | (1) | | | $ | 31 | | | $ | 32 | | | $ | (1) | | | | Other liabilities with contractual unpaid principal balance | $ | 23 | | | $ | 25 | | | $ | (2) | | | $ | 23 | | | $ | 25 | | | $ | (2) | | | | Other liabilities without contractual unpaid principal balance | $ | 126 | | | $ | — | | | $ | 126 | | | $ | 122 | | | $ | — | | | $ | 122 | | |
(a)Amounts exclude accrued interest. (b)There were no accruing loans 90 days or more past due within this category at March 31, 2026 or December 31, 2025. (c)There were no nonaccrual loans within this category at March 31, 2026 or December 31, 2025.
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| Fair Value Option - Changes in Fair Value |
The changes in fair value for items for which we elected the fair value option are as follows:
Table 77: Fair Value Option – Changes in Fair Value Included in Earnings (a)(b) | | | | | | | | | | | | | | | | | | | | Gains (Losses) | | | | | | Three months ended | | | | | March 31 | | March 31 | | | | | | | In millions | 2026 | | 2025 | | | | | | | Assets | | | | | | | | | | Residential mortgage loans held for sale | $ | 7 | | | $ | (4) | | | | | | | | Commercial mortgage loans held for sale | $ | 16 | | | $ | 11 | | | | | | | | Loans | $ | 4 | | | $ | 7 | | | | | | | | Other assets | $ | 1 | | | $ | (9) | | | | | | | | Liabilities | | | | | | | | | | Interest-bearing deposits | $ | 1 | | | $ | (1) | | | | | | | | Other liabilities | $ | 1 | | | $ | (7) | | | | | | |
(a)Amounts exclude interest income and interest expense. (b)The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts.
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| Additional Fair Value Information Related to Other Financial Instruments |
The following table presents the carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of all other financial instruments that are not recorded on our Consolidated Balance Sheet at fair value as of March 31, 2026 and December 31, 2025. For more information regarding the methods and assumptions used to estimate the fair values of financial instruments included in Table 78, see Note 14 Fair Value in our 2025 Form 10-K. Table 78: Additional Fair Value Information Related to Other Financial Instruments
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Carrying | | Fair Value | | | In millions | Amount | | Total | | Level 1 | | Level 2 | | Level 3 | | | March 31, 2026 | | | | | | | | | | | | Assets | | | | | | | | | | | | Cash and due from banks | $ | 5,646 | | | $ | 5,646 | | | $ | 5,646 | | | $ | — | | | $ | — | | | | Interest-earning deposits with banks | 26,053 | | | 26,053 | | | 25,288 | | | 765 | | | — | | | | Securities held-to-maturity | 72,045 | | | 69,468 | | | 16,869 | | | 52,440 | | | 159 | | | | Net loans (excludes leases) | 348,137 | | | 346,057 | | | — | | | — | | | 346,057 | | | | Other assets | 5,677 | | | 5,677 | | | — | | | 5,677 | | | — | | | | Total assets | $ | 457,558 | | | $ | 452,901 | | | $ | 47,803 | | | $ | 58,882 | | | $ | 346,216 | | | | Liabilities | | | | | | | | | | | | Time deposits | $ | 33,216 | | | $ | 33,396 | | | $ | — | | | $ | 33,396 | | | $ | — | | | | Borrowed funds | 65,301 | | | 66,082 | | | — | | | 65,647 | | | 435 | | | | Unfunded lending related commitments | 832 | | | 832 | | | — | | | — | | | 832 | | | | Other liabilities | 1,234 | | | 1,234 | | | — | | | 1,234 | | | — | | | | Total liabilities | $ | 100,583 | | | $ | 101,544 | | | $ | — | | | $ | 100,277 | | | $ | 1,267 | | | | December 31, 2025 | | | | | | | | | | | | Assets | | | | | | | | | | | | Cash and due from banks | $ | 6,777 | | | $ | 6,777 | | | $ | 6,777 | | | $ | — | | | $ | — | | | | Interest-earning deposits with banks | 32,936 | | | 32,936 | | | 31,975 | | | 961 | | | — | | | | Securities held-to-maturity | 70,109 | | | 67,979 | | | 19,564 | | | 48,247 | | | 168 | | | | Net loans (excludes leases) | 318,869 | | | 316,005 | | | — | | | — | | | 316,005 | | | | Other assets | 5,109 | | | 5,109 | | | — | | | 5,109 | | | — | | | | Total assets | $ | 433,800 | | | $ | 428,806 | | | $ | 58,316 | | | $ | 54,317 | | | $ | 316,173 | | | | Liabilities | | | | | | | | | | | | Time deposits | $ | 30,361 | | | $ | 30,576 | | | $ | — | | | $ | 30,576 | | | $ | — | | | | Borrowed funds | 56,097 | | | 57,289 | | | — | | | 56,793 | | | 496 | | | | Unfunded lending related commitments | 818 | | | 818 | | | — | | | — | | | 818 | | | | Other liabilities | 1,091 | | | 1,091 | | | — | | | 1,091 | | | — | | | | Total liabilities | $ | 88,367 | | | $ | 89,774 | | | $ | — | | | $ | 88,460 | | | $ | 1,314 | | |
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