| Schedule of Details of Securities |
The amortized cost, unrealized gains and losses, and approximate fair value of our securities available for sale and held-to-maturity securities are presented in the following tables. Gross unrealized gains and losses represent the difference between the amortized cost and the fair value of securities on the balance sheet as of the dates indicated. Accordingly, the amount of these gains and losses may change in the future as market conditions change. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | December 31, Dollars in millions | Amortized Cost (a)(b) | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | | Amortized Cost(a)(b) | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | | SECURITIES AVAILABLE FOR SALE | | | | | | | | | | | U.S. Treasury, agencies, and corporations | $ | 7,842 | | $ | 61 | | $ | 17 | | $ | 7,886 | | | $ | 8,928 | | $ | 20 | | $ | 44 | | $ | 8,904 | | | | | | | | | | | | Agency residential collateralized mortgage obligations | 10,269 | | 4 | | 1,708 | | 8,565 | | | 11,409 | | 8 | | 2,193 | | 9,224 | | | Agency residential mortgage-backed securities | 19,451 | | 201 | | 457 | | 19,195 | | | 16,038 | | 3 | | 872 | | 15,169 | | | Agency commercial mortgage-backed securities | 4,284 | | 1 | | 335 | | 3,950 | | | 4,927 | | — | | 517 | | 4,410 | | | | | | | | | | | | | Total securities available for sale | $ | 41,846 | | $ | 267 | | $ | 2,517 | | $ | 39,596 | | | $ | 41,302 | | $ | 31 | | $ | 3,626 | | $ | 37,707 | | | HELD-TO-MATURITY SECURITIES | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Agency residential collateralized mortgage obligations | $ | 4,026 | | $ | 8 | | $ | 176 | | $ | 3,858 | | | $ | 4,577 | | $ | 3 | | $ | 332 | | $ | 4,248 | | | Agency residential mortgage-backed securities | 2,374 | | 12 | | 13 | | 2,373 | | | 151 | | — | | 17 | | 134 | | | Agency commercial mortgage-backed securities | 2,121 | | 1 | | 139 | | 1,983 | | | 2,333 | | — | | 203 | | 2,130 | | Asset-backed securities(c) | 77 | | — | | 2 | | 75 | | | 308 | | — | | 8 | | 300 | | | Other securities | 24 | | — | | — | | 24 | | | 26 | | — | | 1 | | 25 | | | Total held-to-maturity securities | $ | 8,622 | | $ | 21 | | $ | 330 | | $ | 8,313 | | | $ | 7,395 | | $ | 3 | | $ | 561 | | $ | 6,837 | | | | | | | | | | | |
(a)Amortized cost amounts exclude accrued interest receivable which is recorded within “other assets” on the balance sheet. At December 31, 2025, accrued interest receivable on available for sale securities and held-to-maturity securities totaled $121 million and $26 million, respectively. At December 31, 2024, accrued interest receivable on available for sale securities and held-to-maturity securities totaled $109 million and $21 million, respectively. (b)Excluded from the amortized cost of securities available for sale are basis adjustments for securities designated in active fair value hedges. Basis adjustments totaled $99 million and $(6) million as of December 31, 2025 and December 31, 2024, respectively. The securities being hedged are primarily U.S Treasuries, Agency RMBS, and Agency CMBS. (c)Amortized costs includes $74 million of securities as of December 31, 2025, and $303 million of securities as of December 31, 2024, related to the purchase of senior notes from a securitization collateralized by sold indirect auto loans.
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| Schedule of Securities in an Unrealized Loss Position |
The following table summarizes securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2025, and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Duration of Unrealized Loss Position | | | | | | Less than 12 Months | | 12 Months or Longer | | Total | | Dollars in millions | Fair Value | Gross Unrealized Losses | | Fair Value | Gross Unrealized Losses | | Fair Value | Gross Unrealized Losses | | December 31, 2025 | | | | | | | | | | Securities available for sale: | | | | | | | | | | U.S. Treasury, agencies, and corporations | $ | — | | $ | — | | | $ | 525 | | $ | 17 | | | $ | 525 | | $ | 17 | | | | | | | | | | | | Agency residential collateralized mortgage obligations | — | | — | | | 7,677 | | 1,708 | | | 7,677 | | 1,708 | | | Agency residential mortgage-backed securities | 1,226 | | 7 | | | 5,583 | | 450 | | | 6,809 | | 457 | | | Agency commercial mortgage-backed securities | 7 | | — | | | 3,777 | | 335 | | | 3,784 | | 335 | | | | | | | | | | | | Held-to-maturity securities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Agency residential collateralized mortgage obligations | 240 | | 2 | | | 3,023 | | 174 | | | 3,263 | | 176 | | | Agency residential mortgage-backed securities | 526 | | 2 | | | 125 | | 11 | | | 651 | | 13 | | | Agency commercial mortgage-backed securities | — | | — | | | 1,914 | | 139 | | | 1,914 | | 139 | | | Asset-backed securities | — | | — | | | 75 | | 2 | | | 75 | | 2 | | | Other securities | 5 | | — | | | 6 | | — | | | 11 | | — | | | Total securities in an unrealized loss position | $ | 2,004 | | $ | 11 | | | $ | 22,705 | | $ | 2,836 | | | $ | 24,709 | | $ | 2,847 | | | December 31, 2024 | | | | | | | | | | Securities available for sale: | | | | | | | | | | U.S. Treasury, agencies, and corporations | $ | 3,647 | | $ | 8 | | | $ | 508 | | $ | 36 | | | $ | 4,155 | | $ | 44 | | | | | | | | | | | | Agency residential collateralized mortgage obligations | 91 | | — | | | 8,108 | | 2,193 | | | 8,199 | | 2,193 | | | Agency residential mortgage-backed securities | 11,364 | | 254 | | | 3,145 | | 618 | | | 14,509 | | 872 | | | Agency commercial mortgage-backed securities | 50 | | 1 | | | 4,360 | | 516 | | | 4,410 | | 517 | | | | | | | | | | | | Held-to-maturity securities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Agency residential collateralized mortgage obligations | 569 | | 18 | | | 3,387 | | 314 | | | 3,956 | | 332 | | | Agency residential mortgage-backed securities | — | | — | | | 134 | | 17 | | | 134 | | 17 | | | Agency commercial mortgage-backed securities | — | | — | | | 2,060 | | 203 | | | 2,060 | | 203 | | | Asset-backed securities | — | | — | | | 300 | | 8 | | | 300 | | 8 | | | Other securities | 7 | | — | | | 8 | | 1 | | | 15 | | 1 | | | Total securities in an unrealized loss position | $ | 15,728 | | $ | 281 | | | $ | 22,010 | | $ | 3,906 | | | $ | 37,738 | | $ | 4,187 | | | | | | | | | | |
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| Schedule of Securities by Maturity |
| | | | | | | | | | | | | | | | | | | | | | | | | | Securities
Available for Sale | | Held-to-Maturity
Securities | | December 31, 2025 | Amortized
Cost | | Fair Value | | Amortized Cost | | Fair Value | | Dollars in millions | | | | | Due in one year or less | $ | 3,070 | | | $ | 3,085 | | | $ | 472 | | | $ | 467 | | | Due after one through five years | 10,796 | | | 10,504 | | | 2,231 | | | 2,176 | | | Due after five through ten years | 21,855 | | | 20,214 | | | 4,796 | | | 4,671 | | | Due after ten years | 6,125 | | | 5,793 | | | 1,123 | | | 999 | | | Total | $ | 41,846 | | | $ | 39,596 | | | $ | 8,622 | | | $ | 8,313 | | | | | | | | | |
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