v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 400 $ 239
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 55 57
Change in cash surrender value of bank-owned life insurance (20) (11)
Depreciation, amortization and accretion, net 47 31
Gain on sale of premises and equipment (2) (3)
Additions to residential mortgage servicing rights carried at fair value (5) (4)
Change in fair value of residential mortgage servicing rights carried at fair value (1) 9
Stock-based compensation 19 16
Net change in fair value of equity and other investments (14) (13)
Loss (gain) on investment securities, net 1 (2)
Gain on sale of loans and leases, net (8) (6)
Change in fair value of loans held for sale (15) (1)
Origination of loans held for sale (366) (300)
Proceeds from sales of loans held for sale 650 322
Change in other assets and liabilities:    
Net decrease in other assets 113 25
Net decrease in other liabilities (65) (130)
Net cash provided by operating activities 789 229
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of investment securities available for sale (671) (548)
Proceeds from investment securities available for sale 599 372
Purchases of restricted equity securities (171) (138)
Redemption of restricted equity securities 123 126
Net change in loans and leases 315 (33)
Proceeds from sales of loans and leases 167 8
Purchases of premises and equipment, net of proceeds from sales (24) (22)
Proceeds from bank-owned life insurance death benefits 11 2
Purchase of bank-owned life insurance 0 (3)
Other 2 2
Net cash provided by (used in) investing activities 351 (234)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (decrease) increase in deposit liabilities (2,155) 22
Net decrease in securities sold under agreements to repurchase (18) (45)
Proceeds from borrowings 8,050 5,525
Repayment of borrowings (7,000) (5,275)
Net proceeds from issuance of common stock under ESPP 2 1
Dividends paid on common stock (212) (150)
Repurchase and retirement of common stock (418) (9)
Net cash (used in) provided by financing activities (1,751) 69
Net (decrease) increase in cash and cash equivalents (611) 64
Cash and cash equivalents, beginning of period 2,380 1,878
Cash and cash equivalents, end of period 1,769 1,942
Cash paid during the period for:    
Interest 452 440
Income taxes 55 85
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Changes in unrealized gains and losses on investment securities available for sale, net of taxes (76) 123
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes (1) 6
Transfer of loans held for sale to loans held for investment $ 20 $ 3