v3.26.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
INTEREST INCOME    
Interest and fees on loans and leases $ 684 $ 553
Interest and dividends on investment securities:    
Taxable 103 69
Exempt from federal income tax 12 7
Dividends 3 3
Interest on temporary investments and interest-bearing deposits 14 16
Total interest income 816 648
INTEREST EXPENSE    
Interest on deposits 184 177
Interest on securities sold under agreement to repurchase and federal funds purchased 1 1
Interest on borrowings 30 36
Interest on junior and other subordinated debentures 7 9
Total interest expense 222 223
Net interest income 594 425
PROVISION FOR CREDIT LOSSES  28 27
Net interest income after provision for credit losses 566 398
NON-INTEREST INCOME    
Residential mortgage banking revenue, net 12 9
Gain on investment securities, net 0 2
Gain on loan and lease sales, net 1 0
(Loss) gain on certain loans held for investment, at fair value (2) 7
Bank-owned life insurance income 9 5
Other income 13 6
Total non-interest income 83 66
NON-INTEREST EXPENSE    
Salaries and employee benefits 196 145
Occupancy and equipment, net 66 48
Communications 4 3
Marketing 5 3
Services 15 15
Deposit costs 14 2
FDIC assessments 9 8
Intangible amortization 41 28
Merger and restructuring expense 24 14
Legal settlement 0 55
Other expenses 20 19
Total non-interest expense 394 340
Income before provision for income taxes 255 124
Provision for income taxes 63 37
Net income $ 192 $ 87
Earnings per common share:    
Basic (in dollars per share) $ 0.66 $ 0.41
Diluted (in dollars per share) $ 0.66 $ 0.41
Weighted average number of common shares outstanding:    
Basic (in shares) 290,933 208,800
Diluted (in shares) 292,160 210,023
Service charges on deposits    
NON-INTEREST INCOME    
Revenue from contract with customer $ 20 $ 19
Card-based fees    
NON-INTEREST INCOME    
Revenue from contract with customer 15 13
Financial services and trust revenue    
NON-INTEREST INCOME    
Revenue from contract with customer $ 15 $ 5