v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income $ 541 $ 467
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 30 70
Deferred income tax expense 69 20
Depreciation and amortization of premises and equipment 27 28
Amortization of intangible assets 16 20
Net other amortization (accretion) (2) (7)
Net decrease in trading securities 1,089 433
Net decrease (increase) in derivatives 5 (10)
Stock-based compensation expense 27 33
Loans held for sale:    
Purchases and originations (2,111) (1,241)
Gross proceeds from settlements and sales 1,364 916
Gain (loss) due to fair value adjustments and other 43 (7)
Other operating activities, net (235) (290)
Total adjustments 322 (35)
Net cash provided by operating activities 863 432
Investing Activities    
Proceeds from maturities of securities available for sale 544 457
Purchases of securities available for sale (284) (457)
Proceeds from prepayments of securities held to maturity 29 27
Purchases of premises and equipment (27) (18)
Net increase in loans and leases (1,214) (732)
Net (increase) decrease in interest-bearing deposits with banks (33) 626
Other investing activities, net 8 14
Net cash used in investing activities (977) (83)
Common stock:    
Stock options exercised 4 3
Cash dividends paid (160) (162)
Repurchase of shares (356) (393)
Preferred stock:    
Series C preferred stock redemption (57) 0
Series H preferred stock issuance 392 0
Cash dividends paid - preferred stock - noncontrolling interest (7) (8)
Cash dividends paid - preferred stock (10) (13)
Net increase (decrease) in deposits 593 (5)
Net increase (decrease) in short-term borrowings (251) 61
Proceeds from issuance of term borrowings 0 497
Repayment of term borrowing 0 (350)
Decreases in secured term borrowings (1) (1)
Net cash provided by (used in) financing activities 147 (371)
Net increase (decrease) in cash and cash equivalents 33 (22)
Cash and cash equivalents at beginning of period 1,595 1,537
Cash and cash equivalents at end of period 1,628 1,515
Supplemental Disclosures    
Total interest paid 658 775
Total taxes paid 43 25
Total taxes refunded 2 2
Transfer from loans to OREO 1 1
Transfer from loans HFS to trading securities 607 480
Transfer from loans to loans HFS $ 0 $ (1)