v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and due from banks $ 4,084 $ 3,499
Other short-term investments [1] 17,456 18,876
Available-for-sale debt and other securities (amortized cost of $49,238 and $39,107) 46,161 36,159
Held-to-maturity securities (fair value of $16,341 and $11,404) 16,389 11,368
Trading debt securities 1,669 1,057
Equity securities 544 453
Loans and leases held for sale (includes $714 and $658 of residential mortgage loans measured at fair value) 1,365 733
Portfolio loans and leases 176,250 122,651
Allowance for loan and lease losses [1] (2,922) (2,253)
Portfolio loans and leases, net 173,328 120,398
Bank premises and equipment (includes $18 and $9 held for sale) 3,283 2,734
Goodwill 9,966 4,947
Intangible assets 1,233 69
Servicing rights 1,583 1,598
Other assets [1] 19,978 12,485
Total Assets 297,039 214,376
Deposits:    
Noninterest-bearing deposits 65,335 42,647
Interest-bearing deposits 168,286 129,172
Total deposits 233,621 171,819
Short-term borrowings 1,289 926
Accrued taxes, interest and expenses 2,628 2,083
Other liabilities [1] 6,642 4,235
Long-term debt [1] 18,753 13,589
Total Liabilities 262,933 192,652
Equity    
Common stock [2] 2,585 2,051
Preferred stock [3] 2,182 1,770
Capital surplus 15,586 3,831
Retained earnings 25,248 25,488
Accumulated other comprehensive loss (3,234) (3,110)
Treasury stock [2] (8,261) (8,306)
Total Equity 34,106 21,724
Total Liabilities and Equity $ 297,039 $ 214,376
[1] Includes $38 and $38 of other short-term investments, $463 and $554 of portfolio loans and leases, $(8) and $(9) of ALLL, $3 and $3 of other assets, $10 and $11 of other liabilities and $391 and $473 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2026 and December 31, 2025, respectively. For further information, refer to Note 10.
[2] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at March 31, 2026 – 905,822,556 (excludes 258,416,111 treasury shares), December 31, 2025 – 661,197,787 (excludes 262,694,794 treasury shares).
[3] 500,000 shares of no par value preferred stock were authorized at both March 31, 2026 and December 31, 2025. There were 36,000 and 436,000 unissued shares of undesignated no par value preferred stock at March 31, 2026 and December 31, 2025, respectively. Each issued share of no par value preferred stock has a liquidation preference of $25,000. 500,000 shares of no par value Class B preferred stock were authorized at both March 31, 2026 and December 31, 2025. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both March 31, 2026 and December 31, 2025. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.