v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 266 $ 222
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 15 40
Deferred income tax expense 25 2
Depreciation and amortization of premises and equipment 14 14
Amortization of intangible assets 8 10
Net other amortization (accretion) 0 (2)
Net decrease in trading securities 363 237
Net increase in derivatives (12) (3)
Stock-based compensation expense 13 18
Securities (gains) losses, net 1 0
Loans held for sale:    
Purchases and originations (1,047) (558)
Gross proceeds from settlements and sales 592 372
Gain (loss) due to fair value adjustments and other 26 (1)
Other operating activities, net 14 (2)
Total adjustments 12 127
Net cash provided by operating activities 278 349
Investing Activities    
Proceeds from maturities of securities available for sale 261 217
Purchases of securities available for sale (262) (245)
Proceeds from prepayments of securities held to maturity 13 13
Purchases of premises and equipment (8) (9)
Net (increase) decrease in loans and leases (240) 333
Net decrease in interest-bearing deposits with banks 9 373
Other investing activities, net 3 11
Net cash (used in) provided by investing activities (224) 693
Common stock:    
Stock options exercised 3 3
Cash dividends paid (73) (80)
Repurchase of shares (235) (365)
Preferred stock:    
Series H preferred stock issuance 392 0
Cash dividends paid - preferred stock - noncontrolling interest (4) (4)
Cash dividends paid - preferred stock (5) (8)
Net decrease in deposits (995) (1,373)
Net increase in short-term borrowings 914 395
Proceeds from issuance of term borrowings 0 497
Decreases in secured term borrowings (3) (1)
Net cash used in financing activities (6) (936)
Net increase in cash and cash equivalents 48 106
Cash and cash equivalents at beginning of period 1,595 1,537
Cash and cash equivalents at end of period 1,643 1,643
Supplemental Disclosures    
Total interest paid 317 372
Total taxes paid 6 4
Transfer from loans HFS to trading securities $ 273 $ 227