v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Cash and due from banks $ 609 $ 359
Federal funds sold, securities purchased under resale agreements, and interest earning deposits with banks 5,309 3,206
Total cash, cash equivalents, and restricted cash 5,918 3,565
Investment securities held to maturity, net 2,539 2,591
Investment securities available for sale 16,939 6,567
Loans held for sale (includes $46 million at fair value as of Mar 31, 2026) 251 97
Loans, net of deferred fees and costs 85,197 39,154
Allowance for loan losses (942) (442)
Loans, net 84,255 38,712
Cash surrender value of bank-owned life insurance 2,181 1,223
Premises, equipment, and software, net 907 352
Goodwill 3,478 1,849
Core deposits and other intangible assets, net 1,091 30
Other assets 5,207 2,720
Total assets 122,766 57,706
Deposits:    
Non-interest-bearing deposits 20,388 9,051
Interest-bearing deposits 79,715 38,350
Total deposits 100,103 47,401
Federal funds purchased, and securities sold under repurchase agreements 308 316
FHLB advances and other borrowings 5,741 2,205
Other liabilities 2,020 740
Total liabilities 108,172 50,662
Shareholders' equity:    
Preferred stock - no par value. Authorized 110 million shares at Mar 31, 2026 and 10 million shares at Dec 31, 2025; 225,000 shares, liquidation preference $225 million, 22 million shares issued and outstanding at Mar 31, 2026, and 225,000 shares, liquidation preference $225 million, issued and outstanding at Dec 31, 2025. 781 217
Common stock - $1.00 par value. Authorized 360 million shares at March 31, 2026 and 180 million shares authorized at Dec. 31, 2025; issued and outstanding 151 million and 78 million, respectively 151 78
Additional paid-in capital 10,102 3,144
Accumulated other comprehensive income (loss), net (225) (123)
Retained earnings 3,785 3,728
Total equity 14,594 7,044
Total liabilities and equity $ 122,766 $ 57,706