Debt Securities (Tables)

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities

The following tables present the amortized cost, gross unrealized gains and losses, and estimated fair values of debt securities as of the dates presented:


	March 31, 2026
(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale:
U.S. Treasury and agencies	$	1,227	$	3	$	(40)	$	1,190
Obligations of states and political subdivisions	1,577		26		(20)		1,583
Mortgage-backed securities and collateralized mortgage obligations	8,458		34		(350)		8,142
Total available for sale securities	$	11,262	$	63	$	(410)	$	10,915
Held to maturity:
Corporate and other securities	$	18	$	—	$	—	$	18
Total held to maturity securities	$	18	$	—	$	—	$	18


	December 31, 2025
(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale:
U.S. Treasury and agencies	$	1,332	$	6	$	(38)	$	1,300
Obligations of states and political subdivisions	1,597		47		(15)		1,629
Mortgage-backed securities and collateralized mortgage obligations	8,447		63		(327)		8,183
Total available for sale securities	$	11,376	$	116	$	(380)	$	11,112
Held to maturity:
Corporate and other securities	$	18	$	1	$	—	$	19
Total held to maturity securities	$	18	$	1	$	—	$	19

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The following tables present debt securities that were in an unrealized loss position as of the dates presented, categorized by the length of time individual securities have been in an unrealized loss position:


	March 31, 2026
	Less than 12 Months				12 Months or Longer				Total
(in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasury and agencies	$	100	$	(1)	$	775	$	(39)	$	875	$	(40)
Obligations of states and political subdivisions	434		(4)		151		(16)		585		(20)
Mortgage-backed securities and collateralized mortgage obligations	2,889		(31)		1,962		(319)		4,851		(350)
Total temporarily impaired securities	$	3,423	$	(36)	$	2,888	$	(374)	$	6,311	$	(410)


	December 31, 2025
	Less than 12 Months				12 Months or Longer				Total
(in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasury and agencies	$	50	$	—	$	778	$	(38)	$	828	$	(38)
Obligations of states and political subdivisions	29		—		219		(15)		248		(15)
Mortgage-backed securities and collateralized mortgage obligations	1,287		(9)		2,374		(318)		3,661		(327)
Total temporarily impaired securities	$	1,366	$	(9)	$	3,371	$	(371)	$	4,737	$	(380)

Schedule Of Maturities Of Investment Securities

The following table presents the contractual maturities of the Company's debt securities as of March 31, 2026. Actual maturities may differ from contractual maturities due to the potential for early calls, prepayments, or principal repayments, with or without call or prepayment penalties.


	Available For Sale				Held To Maturity
(in millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	419	$	418	$	—	$	—
Due after one year through five years	2,683		2,658		—		—
Due after five years through ten years	1,626		1,595		1		1
Due after ten years	6,534		6,244		17		17
Total debt securities	$	11,262	$	10,915	$	18	$	18