v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 55 $ (170)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Provision for credit losses 18 143
Depreciation and amortization 68 76
Stock-based compensation 33 29
Deferred tax expense (benefit) 31 (80)
Other operating activities (79) 40
Changes in operating assets and liabilities:    
Decrease in other miscellaneous assets 20 164
Decrease in other miscellaneous liabilities (52) (533)
Change in loans held for sale, net 14 96
Net cash provided by (used in) operating activities 108 (235)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from repayment of securities available-for-sale 2,258 956
Proceeds from sales of securities available-for-sale including loans that have been securitized 0 578
Purchase of securities available-for-sale (3,207) (5,326)
Redemption of Federal Home Loan Bank stock 271 131
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock (168) (2)
Other changes in loans, net (327) 3,841
Purchases of premises and equipment (46) (19)
Proceeds from sales of equity securities 46 0
Other investing activities 32 5
Net cash (used in) provided by investing activities (1,141) 164
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposits 1,521 (6,132)
Net decrease in short-term borrowed funds (750) (750)
Proceeds from long-term borrowed funds 2,000 500
Repayments of long-term borrowed funds (2,500) (1,000)
Cash dividends paid on common stock (9) (8)
Cash dividends paid on preferred stock (16) (16)
Other financing activities, net (10) 89
Net cash provided by (used in) financing activities 236 (7,317)
Net decrease in cash, cash equivalents, and restricted cash (797) (7,388)
Cash, cash equivalents, and restricted cash at beginning of period 5,977 15,559
Cash, cash equivalents, and restricted cash at end of period 5,180 8,171
Supplemental information:    
Cash paid for interest 1,083 1,560
Non-cash investing and financing activities:    
Securitization of loans to mortgage-backed securities available-for-sale 0 503
Transfer of loans from held for investment to held for sale 0 255
Transfer of loans from held for sale to held for investment 28 0
Restricted Stock Units (RSUs)    
Non-cash investing and financing activities:    
Shares issued for restricted stock awards $ 39 $ 20