v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Cash and due from banks $ 648 $ 359
Federal funds sold, securities purchased under resale agreements, and interest earning deposits with banks 7,003 3,206
Total cash, cash equivalents, and restricted cash 7,651 3,565
Investment securities held to maturity, net 2,448 2,591
Investment securities available for sale 18,153 6,567
Loans held for sale (includes $42 million at fair value as of Jun 30, 2026 and none at fair value as of Dec. 31, 2025) 651 97
Loans, net of deferred fees and costs 88,076 39,154
Allowance for loan losses (956) (442)
Loans, net 87,120 38,712
Premises, equipment, and software, net 903 352
Cash surrender value of bank-owned life insurance 2,200 1,223
Goodwill 3,479 1,849
Core deposits and other intangible assets, net 1,045 30
Other assets 5,405 2,720
Total assets 129,055 57,706
Deposits:    
Non-interest-bearing deposits 20,657 9,051
Interest-bearing deposits 80,241 38,350
Total deposits 100,898 47,401
Federal funds purchased and securities sold under repurchase agreements 850 316
FHLB advances and other borrowings 10,253 2,205
Other liabilities 2,226 740
Total liabilities 114,227 50,662
Shareholders' equity:    
Preferred stock — no par value per share, liquidation preference 225 million non-cumulative perpetual preferred stock, Authorized — 110 million shares at Jun 30, 2026 and 10 million shares at Dec 31, 2025, Issued and outstanding — 22 million shares at Jun 30, 2026 and 225,000 shares at Dec 31, 2025 781 217
Common stock — $1.00 par value, Authorized — 360 million shares at Jun 30, 2026 and 180 million shares at Dec. 31, 2025, Issued and outstanding — 151 million shares at June 30, 2025 and 78 million at 
Dec. 31, 2025 151 78
Additional paid-in capital 10,120 3,144
Accumulated other comprehensive income (loss), net (247) (123)
Retained earnings 4,023 3,728
Total equity 14,828 7,044
Total liabilities and equity $ 129,055 $ 57,706