v3.26.1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Loans, including loans held for sale $ 14,911 $ 12,449 $ 29,646 $ 22,606
Investment securities 850 784 1,682 1,554
Other 624 595 1,288 1,086
Total interest income 16,385 13,828 32,616 25,246
Interest expense:        
Deposits 3,338 3,120 6,725 5,835
Securitized debt obligations 117 164 258 340
Senior and subordinated notes 535 535 1,067 1,040
Other borrowings 21 14 47 23
Total interest expense 4,011 3,833 8,097 7,238
Net interest income 12,374 9,995 24,519 18,008
Provision for credit losses 2,989 11,430 7,057 13,799
Net interest income (loss) after provision for credit losses 9,385 (1,435) 17,462 4,209
Non-interest income:        
Discount and interchange fees, net 2,256 1,478 4,220 2,701
Service charges and other customer-related fees 808 658 1,617 1,167
Other 412 361 725 616
Total non-interest income 3,476 2,497 6,562 4,484
Non-interest expense:        
Salaries and associate benefits 3,769 2,999 7,440 5,545
Occupancy and equipment 969 737 1,836 1,352
Marketing 1,661 1,345 3,158 2,547
Professional services 667 653 1,252 1,090
Communications and data processing 489 413 985 812
Amortization of intangibles 507 271 999 287
Other 981 573 1,837 1,260
Total non-interest expense 9,043 6,991 17,507 12,893
Income (loss) from continuing operations before income taxes 3,818 (5,929) 6,517 (4,200)
Income tax provision (benefit) 798 (1,666) 1,316 (1,341)
Income (loss) from continuing operations, net of tax 3,020 (4,263) 5,201 (2,859)
Income (loss) from discontinued operations, net of tax 0 (14) (7) (14)
Net income (loss) 3,020 (4,277) 5,194 (2,873)
Dividends and undistributed earnings allocated to participating securities (28) (4) (48) (9)
Preferred stock dividends (57) (65) (130) (122)
Discount on redeemed preferred stock 0 6 0 6
Net income (loss) available to common stockholders $ 2,935 $ (4,340) $ 5,016 $ (2,998)
Basic earnings per common share:        
Net income (loss) from continuing operations (in dollars per share) $ 4.73 $ (8.55) $ 8.08 $ (6.71)
Net loss from discontinued operations (in dollars per share)   (0.03) (0.01) (0.03)
Net income (loss) per basic common share (in dollars per share) 4.73 (8.58) 8.07 (6.74)
Diluted earnings per common share:        
Net income (loss) from continuing operations (in dollars per share) 4.73 (8.55) 8.08 (6.71)
Net loss from discontinued operations (in dollars per share) 0 (0.03) (0.01) (0.03)
Net income (loss) per diluted common share (in dollars per share) $ 4.73 $ (8.58) $ 8.07 $ (6.74)