v3.26.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 1,772 $ 1,499
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Provision For Credit Losses 210 219
Depreciation, amortization and accretion 66 90
Deferred income taxes (benefit) (102) (47)
Changes in fair value of mortgage servicing rights 108 191
Net change in    
Trading securities and other short-term investments 105 (1,495)
Loans held for sale and related securitization activity 571 (297)
Other assets 474 964
Accrued expenses and other liabilities (1,756) (1,611)
Other operating activities, net 480 (22)
Net cash provided (used) by operating activities 1,928 (509)
Sales    
Securities available-for-sale 7,729 1,241
Loans 177 143
Repayments/maturities    
Securities available-for-sale 1,904 1,671
Securities held-to-maturity 4,503 3,480
Purchases    
Securities available-for-sale (5,725) (4,098)
Securities held-to-maturity (3,341) (31)
Loans (600) (403)
Net change in federal funds sold and resale agreements 260 (445)
Other changes in loans, net (13,773) (2,393)
Net cash paid for acquisition [1] (80) 0
Other investing activities, net (1,640) (145)
Net cash provided (used) by investing activities (10,586) (980)
Net change in    
Noninterest-bearing deposits (2,345) (272)
Interest-bearing deposits (3,947) (3,551)
Federal funds purchased and repurchase agreements (28) (3)
Other borrowed funds 290 419
Sales/issuances    
Federal Home Loan Bank advances 10,000 0
Senior debt 2,564 2,742
Subordinated debt 1,495 0
Common and treasury stock 26 25
Repayments/maturities    
Federal Home Loan Bank advances (3,000) (4,000)
Senior debt (3,000) (750)
Acquisition of treasury stock (796) (262)
Preferred stock cash dividends paid (73) (71)
Common stock cash dividends paid (696) (639)
Other financing activities, net 154 0
Net cash provided (used) by financing activities 644 (6,362)
Net Increase (Decrease) In Cash, Cash Equivalents And Restricted Cash (8,014) (7,851)
Cash, cash equivalents and restricted cash at beginning of period 39,713 46,251
Cash, cash equivalents and restricted cash at end of period (b) [2] 31,699 38,400
Supplemental Disclosures (c)    
Interest paid [3] 2,515 2,706
Leased assets obtained in exchange for new operating lease liabilities [3] 153 73
Non-cash Investing And Financing Items    
Transfer from loans to loans held for sale, net 0 90
Transfer from loans to foreclosed assets 10 12
Common Stock, par value $5.00    
Non-cash Investing And Financing Items    
Common and Preferred stock issuances for acquisition 2,943 0
Preferred Stock    
Non-cash Investing And Financing Items    
Common and Preferred stock issuances for acquisition $ 119 $ 0
[1] Cash paid to acquire FirstBank was $1,238 million. The amount of $80 million represents the cash paid for the acquisition less $162 million in Cash and due from banks and $996 million in Interest-earning deposits with banks acquired from FirstBank. See Note 2 Acquisition Activity for more detailed information on the FirstBank acquisition.
[2] Includes restricted cash at end of period of $965 million and $992 million for the three months ended March 31, 2026 and 2025, respectively
[3] Disclosures of income taxes paid (net of refunds) are presented in the Income Taxes Note of our Form 10-K pursuant to our adoption of ASU 2023-09. See Note 1 Accounting Policies in our 2025 Form 10-K for additional information related to our adoption of this ASU.