v3.26.1
Condensed Consolidated Statement of Income (Loss) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
INTEREST INCOME:        
Loans and leases $ 751 $ 840 $ 1,505 $ 1,700
Securities and money market investments 225 303 455 607
Total interest income 976 1,143 1,960 2,307
INTEREST EXPENSE:        
Interest-bearing checking and money market accounts 126 162 240 329
Savings accounts 97 110 198 221
Certificates of deposit 201 287 404 595
Borrowed funds 112 165 235 333
Total interest expense 536 724 1,077 1,478
Net interest income 440 419 883 829
Provision for credit losses 18 64 18 143
Net interest income after provision for credit losses 422 355 865 686
NON-INTEREST INCOME:        
Fee income 26 22 49 44
Bank-owned life insurance 13 10 23 20
Net gain (loss) on investment securities 4 0 (5) 0
Net gain on loan sales and securitizations 4 6 9 19
Net loan administration income 1 1 1 5
Other 28 38 54 69
Total non-interest income 76 77 131 157
NON-INTEREST EXPENSE:        
Compensation and benefits 220 237 448 481
Occupancy and equipment 46 53 96 108
Software expense 49 38 96 80
FDIC insurance 30 49 60 99
Professional services 19 23 41 49
General and administrative 63 72 127 151
Total operating expense 427 472 868 968
Intangible asset amortization 23 27 48 55
Merger-related expense 0 14 0 22
Total non-interest expense 450 513 916 1,045
Income (loss) before income taxes 48 (81) 80 (202)
Income tax expense (benefit) 14 (11) 25 (32)
Net income (loss) 34 (70) 55 (170)
Preferred stock dividends 8 8 16 16
Net income (loss) attributable to common stockholders $ 26 $ (78) $ 39 $ (186)
Basic earnings (loss) per common share (in usd per share) $ 0.06 $ (0.19) $ 0.09 $ (0.45)
Diluted earnings (loss) per common share (in usd per share) $ 0.06 $ (0.19) $ 0.08 $ (0.45)