Intangible assets consist of core deposit intangibles, developed technology, customer relationships and other intangible assets which include trade names, backlog and non-compete agreements. Intangible assets are amortized on either a straight-line or an accelerated basis over their estimated useful lives and the amortization expense is typically recorded in other noninterest expense in the Condensed Consolidated Statements of Income.

On February 1, 2026, the Bancorp completed its acquisition of Comerica Incorporated. In connection with the acquisition, the Bancorp recorded a $1.2 billion core deposit intangible asset with a weighted-average amortization period of 10 years. The fair value of the core deposit intangible is as of March 31, 2026 and subject to change as additional information becomes available. Due to the timing of the acquisition, the Bancorp is in the process of identifying and assessing other intangible assets acquired in the Comerica transaction.


($ in millions)	Gross Carrying Amount		Accumulated Amortization	Net Carrying Amount
As of March 31, 2026
Core deposit intangibles	$	1,415	(243)	1,172
Developed technology	114		(72)	42
Customer relationships	28		(12)	16
Other	13		(10)	3
Total intangible assets	$	1,570	(337)	1,233
As of December 31, 2025
Core deposit intangibles	$	206	(203)	3
Developed technology	114		(67)	47
Customer relationships	28		(12)	16
Other	13		(10)	3
Total intangible assets	$	361	(292)	69

As of March 31, 2026, all of the Bancorp’s intangible assets were being amortized. Amortization expense recognized on intangible assets was $45 million and $8 million for the three months ended March 31, 2026 and 2025, respectively. The Bancorp’s projections of amortization expense shown in the following table are based on existing asset balances as of March 31, 2026. Future amortization expense may vary from these projections.