v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis:
TABLE 19.1
(in millions)Level 1Level 2Level 3Total
June 30, 2026
Assets Measured at Fair Value
Debt securities available for sale
U.S. Treasury$377 $— $— $377 
U.S. government agencies— 29 — 29 
U.S. GSE— 264 — 264 
Residential MBS:
Agency MBS— 758 — 758 
Agency CMO— 536 — 536 
Agency commercial MBS— 1,703 — 1,703 
States of the U.S. and political subdivisions (municipals)— 10 — 10 
Other debt securities— 81 — 81 
Total debt securities available for sale377 3,381 — 3,758 
Loans held for sale— 282 — 282 
Loans receivable— — 96 96 
Derivative financial instruments
Trading— 83 — 83 
Not for trading— 1 3 4 
Total derivative financial instruments— 84 3 87 
Total assets measured at fair value on a recurring basis$377 $3,747 $99 $4,223 
Liabilities Measured at Fair Value
Derivative financial instruments
Trading$— $190 $— $190 
Not for trading— 6 — 6 
Total derivative financial instruments— 196 — 196 
Total liabilities measured at fair value on a recurring basis$— $196 $— $196 
(in millions)Level 1Level 2Level 3Total
December 31, 2025
Assets Measured at Fair Value
Debt securities available for sale
U.S. Treasury$356 $— $— $356 
U.S. government agencies— 35 — 35 
U.S. GSE— 266 — 266 
Residential MBS:
Agency MBS— 800 — 800 
Agency CMO— 601 — 601 
Agency commercial MBS— 1,599 — 1,599 
States of the U.S. and political subdivisions (municipals)— 19 — 19 
Other debt securities— 51 — 51 
Total debt securities available for sale356 3,371 — 3,727 
Loans held for sale— 514 — 514 
Loans receivable— — 85 85 
Derivative financial instruments
Trading— 102 — 102 
Not for trading— 13 7 20 
Total derivative financial instruments— 115 7 122 
Total assets measured at fair value on a recurring basis$356 $4,000 $92 $4,448 
Liabilities Measured at Fair Value
Derivative financial instruments
Trading$— $207 $— $207 
Not for trading— 1 — 1 
Total derivative financial instruments— 208 — 208 
Total liabilities measured at fair value on a recurring basis$— $208 $— $208 
Schedule of Additional Information about Assets Measured at Fair Value on Recurring Basis
The following table presents additional information about assets measured at fair value on a recurring basis and for which we have utilized Level 3 inputs to determine fair value:
TABLE 19.2
(in millions)Loans ReceivableInterest
Rate Lock
Commitments		Total
Six Months Ended June 30, 2026
Balance at beginning of period$85 $7 $92 
Purchases, issuances, sales and settlements:
Issuances— 3 3 
Settlements— (7)(7)
Transfers into Level 311 — 11 
Balance at end of period$96 $3 $99 
Year Ended December 31, 2025
Balance at beginning of period$53 $1 $54 
Purchases, issuances, sales and settlements:
Issuances— 7 7 
Settlements— (1)(1)
Transfers into Level 332 — 32 
Balance at end of period$85 $7 $92 
Schedule of Additional Information about Assets Measured at Fair Value on Non-Recurring Basis For assets measured at fair value on a non-recurring basis still held at the Balance Sheet date, the following table provides the hierarchy level and the fair value of the related assets or portfolios:
TABLE 19.3
(in millions)Level 1Level 2Level 3Total
June 30, 2026
Collateral dependent loans$— $— $91 $91 
Other assets - SBA servicing asset— — 2 2 
December 31, 2025
Collateral dependent loans$— $— $126 $126 
Other assets - MSRs— — 2 2 
Other assets - SBA servicing asset— — 2 2 
Other real estate owned— — 1 1 
Schedule of Fair Values of Financial Instruments
The fair values of our financial instruments are as follows:
TABLE 19.4
Fair Value Measurements
(in millions)Carrying
Amount		Fair
 Value		Level 1Level 2Level 3
June 30, 2026
Financial Assets
Cash and cash equivalents$2,375 $2,375 $2,375 $— $— 
Debt securities available for sale3,758 3,758 377 3,381 — 
Debt securities held to maturity4,251 4,049 1 4,048 — 
Net loans and leases, including loans held for sale35,612 35,208 — 282 34,926 
Loan servicing rights77 97 — — 97 
Derivative assets87 87 — 84 3 
Accrued interest receivable143 143 143 — — 
Financial Liabilities
Deposits38,679 38,640 31,403 7,237 — 
Short-term borrowings2,681 2,679 2,679 — — 
Long-term borrowings2,002 2,010 — 1,198 812 
Derivative liabilities196 196 — 196 — 
Accrued interest payable47 47 47 — — 
December 31, 2025
Financial Assets
Cash and cash equivalents$2,498 $2,498 $2,498 $— $— 
Debt securities available for sale3,727 3,727 356 3,371 — 
Debt securities held to maturity4,117 3,941 — 3,941 — 
Net loans and leases, including loans held for sale34,853 34,320 — 514 33,806 
Loan servicing rights75 90 — — 90 
Derivative assets122 122 — 115 7 
Accrued interest receivable163 163 163 — — 
Financial Liabilities
Deposits38,759 38,736 31,451 7,285 — 
Short-term borrowings2,017 2,018 2,018 — — 
Long-term borrowings1,901 1,920 — 1,103 817 
Derivative liabilities208 208 — 208 — 
Accrued interest payable50 50 50 — —