v3.26.1
Consolidated Statements of Income (Unaudited) - 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 $ 2,253 $ 2,270 $ 4,459 $ 4,506
Investment securities 401 419 785 833
Deposits at banks 197 256 393 501
Total interest income 2,851 2,945 5,637 5,840
Interest expense        
Deposits 881 894 1,714 1,787
Borrowings 314 356 646 695
Total interest expense 1,195 1,250 2,360 2,482
Net interest income 1,656 1,695 3,277 3,358
(Benefit) provision for credit losses (10) 115 62 269
Net interest income after provision for credit losses 1,666 1,580 3,215 3,089
Noninterest income        
Rental income on operating lease equipment 280 272 561 542
Fair value adjustment on marketable equity securities, net 15 2 18 (3)
Gain on sale of leasing equipment, net 14 8 25 13
Loss on extinguishment of debt (7) 0 (15) 0
Other noninterest income 88 42 126 56
Total noninterest income 776 678 1,468 1,313
Noninterest expense        
Depreciation on operating lease equipment 101 100 202 198
Maintenance and other operating lease expenses 67 55 132 113
Personnel cost 844 810 1,713 1,628
Net occupancy expense 59 61 119 119
Equipment expense 141 131 277 267
Professional fees 26 30 50 55
Third-party processing fees 100 63 193 126
FDIC insurance expense 39 38 77 76
Marketing expense 45 32 75 64
Acquisition-related expenses 8 38 13 80
Intangible asset amortization 11 13 24 28
Other noninterest expense 110 129 212 239
Total noninterest expense 1,551 1,500 3,087 2,993
Income before income taxes 891 758 1,596 1,409
Income tax expense 219 183 390 351
Net income (loss) 672 575 1,206 1,058
Preferred stock dividends 32 14 58 29
Net income available to common stockholders, basic 640 561 1,148 1,029
Net income available to common shareholders, diluted $ 640 $ 561 $ 1,148 $ 1,029
Earnings per common share        
Basic (in dollars per share) $ 55.52 $ 42.36 $ 97.95 $ 76.73
Diluted (in dollars per share) $ 55.52 $ 42.36 $ 97.95 $ 76.73
Weighted average common shares outstanding        
Basic (in shares) 11,535,792 13,237,226 11,729,271 13,405,295
Diluted (in shares) 11,535,792 13,237,226 11,729,271 13,405,295
Lending-related fees        
Noninterest income        
Noninterest income $ 73 $ 69 $ 142 $ 135
Deposit fees and service charges        
Noninterest income        
Noninterest income 74 59 144 117
Client investment fees        
Noninterest income        
Noninterest income 59 52 112 105
Wealth management services        
Noninterest income        
Noninterest income 62 55 121 111
International fees        
Noninterest income        
Noninterest income 36 33 71 65
Factoring commissions        
Noninterest income        
Noninterest income 18 18 35 35
Cardholder services, net        
Noninterest income        
Noninterest income 38 41 76 82
Merchant services, net        
Noninterest income        
Noninterest income 13 13 26 27
Insurance commissions        
Noninterest income        
Noninterest income $ 13 $ 14 $ 26 $ 28