v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 150 $ 140
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, amortization, and accretion, net 303 38
Provision for credit losses 76 17
Investment securities (gains) losses, net (3) 13
Deferred income tax expense (benefit) 163 17
Originations of loans held for sale (2,724) (741)
Proceeds from sales and payments on loans held for sale 2,681 783
Gain on sales of loans held for sale, net (5) (3)
Income from equity method investment (31) (20)
Dividends received from equity method investment 1 25
Share-based compensation expense 89 11
Decrease (increase) in other assets 351 (86)
Increase (decrease) in other liabilities (124) (212)
Other (1) (4)
Net cash provided by (used in) operating activities 926 (22)
Investing Activities    
Acquisition, net of cash acquired [1] 2,537 0
Proceeds from maturities and principal collections of investment securities held to maturity 45 23
Proceeds from maturities and principal collections of investment securities available for sale 452 67
Proceeds from sales of investment securities available for sale 5,107 188
Purchases of investment securities available for sale (6,229) (583)
Net proceeds from sales of loans 3 9
Net (increase) decrease in loans (2,374) (680)
Net (purchases) redemptions of Federal Home Loan Bank stock (83) 6
Net (purchases) redemptions of Federal Reserve Bank stock (257) 0
Net proceeds from settlement (purchases) of bank-owned life insurance policies 3 (100)
Net increase in premises, equipment and software (15) (20)
Other 17 (73)
Net cash provided by (used in) investing activities (794) (1,163)
Financing Activities    
Net increase (decrease) in deposits 1,391 1,636
Net increase (decrease) in federal funds purchased, securities sold under repurchase agreements, and other short-term borrowings (57) 34
Repayments and redemption of FHLB and other borrowings (3,050) 0
Proceeds from FHLB and other borrowings 4,100 0
Dividends paid to common shareholders (75) (19)
Dividends paid to preferred shareholders (15) (4)
Issuances, net of taxes paid, under equity compensation plans (73) (19)
Net cash provided by (used in) financing activities 2,221 1,628
Increase (decrease) in cash and cash equivalents including restricted cash 2,353 443
Cash, cash equivalents, and restricted cash, at beginning of period 3,565 3,436
Cash, cash equivalents, and restricted cash at end of period 5,918 3,879
Supplemental Disclosures:    
Income taxes paid, net of refunds (42) 2
Interest paid $ 483 $ 308
[1] Cash acquired as part of the Merger with Synovus. Refer to Note 2 - Business Combination in this Report, for more detailed information regarding the Merger.