v3.26.1
BORROWINGS (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Borrowings
The following table presents long-term borrowings, net of the respective unamortized purchase accounting adjustments and issuance costs:

Long-term Borrowings
dollars in millionsMaturityMarch 31, 2026December 31, 2025
Parent Company:
Senior:
Fixed-to-Floating Senior Notes at 5.231% (1)
March 2031$497 $497 
Fixed-to-Floating Senior Notes at 4.869% (2)
March 2032495 — 
Subordinated:
Fixed Rate Reset Subordinated Notes at 5.600% (3)
September 2035595 597 
Fixed-to-Fixed Subordinated Notes at 6.254% (4)
March 2040742 745 
Subsidiaries:
Senior:
Fixed Senior Unsecured Notes at 6.000%
April 203658 58 
Subordinated:
Fixed Subordinated Notes at 6.125%
March 2028427 430 
Secured:
Purchase Money Note to FDIC fixed at 3.500% (5)
March 202830,905 33,385 
Capital lease obligationsMaturities through May 205773 72 
Total long-term borrowings$33,792 $35,784 
(1) The fixed rate period will end March 12, 2030, and the notes will thereafter bear a floating interest rate equal to a benchmark rate based on the Compounded Secured Overnight Financing Rate (“SOFR”) Index Rate plus 141 basis points (“bps”) per annum until the maturity date (or date of earlier redemption).
(2) The fixed rate period will end March 3, 2031, and the notes will thereafter bear a floating interest rate equal to a benchmark rate based on the Compounded SOFR Index Rate plus 148.7 bps per annum until the maturity date (or date of earlier redemption).
(3) The interest rate will reset on September 5, 2030, and the notes will thereafter bear a fixed interest rate equal to the Five-year U.S. Treasury Rate as of the day falling two business days prior to the notes reset date plus 185 bps per annum until the maturity date (or date of earlier redemption).
(4) The interest rate will reset on March 12, 2035, and the notes will thereafter bear a fixed interest rate equal to the Five-year U.S. Treasury Rate as of the day falling two business days prior to the notes reset date plus 197 bps per annum until the maturity date (or date of earlier redemption).
(5)    Issued in connection with the SVBB Acquisition. The unamortized discount was $95 million and $115 million at March 31, 2026 and December 31, 2025, respectively. Refer to Note 5—Loans and Leases for further information on loans pledged as collateral to secure borrowings.