v3.26.1
LONG-TERM SUBORDINATED NOTES (Tables)
6 Months Ended
Jun. 30, 2026
Long-Term Debt, Unclassified [Abstract]  
Schedule of Outstanding Fixed to Floating Rate Long-Term Subordinated Notes
The table below displays Holdings’ outstanding fixed to floating rate long-term subordinated notes (“Subordinated Notes Issued 2007”). Fair value is based on quoted market prices, but due to limited trading activity, the Subordinated Notes Issued 2007 are considered Level 2 in the fair value hierarchy.
June 30, 2026December 31, 2025
Original
Principal
Amount
Maturity DateConsolidated
Balance
Sheet Amount
Fair
Value
Consolidated
Balance
Sheet Amount
Fair
Value
(Dollars in millions)Date IssuedScheduledFinal
Subordinated Notes Issued 20074/26/2007$400 5/15/20375/1/2067$218 $210 $218 $208 
Schedule of Interest Expense Incurred in Connection with Long-Term Subordinated Notes
Interest expense incurred in connection with the long-term Subordinated Notes Issued 2007 is as follows for the periods indicated:
Three Months Ended
June 30,
Six Months Ended
June 30,
(Dollars in millions)2026202520262025
Interest expense incurred$$$$