v3.26.3
BUSINESS COMBINATIONS (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions
The following table provides the preliminary purchase price allocation to the identifiable acquired assets and assumed liabilities at their estimated fair values, along with the purchase price consideration, as of the BMO Branch Acquisition Date. The deposit premium is the purchase price consideration in the BMO Branch Acquisition because it represents the amount FCB paid BMO in order to obtain the acquired deposit franchise and related branch operations, as well as the assumed liabilities and acquired assets.

Preliminary Fair Value Purchase Price Allocation
dollars in millions
Fair Value Purchase Price Allocation as of September 4, 2026 (1)
Purchase price consideration
Deposit premium paid$262 
Assets
Cash$23
Interest-earning deposits at banks4,109 
Loans, net of ALLL638 
Premises and equipment92 
Core deposit intangibles192 
Other assets18 
Total acquired assets$5,072 
Liabilities
Deposits$4,861 
Other liabilities21 
Total assumed liabilities $4,882 
Net assets (2)
$190 
Goodwill$72 
(1) Includes final settlement amounts as of the BMO Branch Acquisition Date.
(2) Includes the fair value purchase accounting adjustments for assumed liabilities, acquired assets, and core deposit intangibles. Also includes the fair value of interest-earning deposits at banks as further discussed below.
The following table summarizes the fair value discount and the Gross-Up Approach for acquired loans as of the BMO Branch Acquisition Date:
Loan Fair Value Discount and Gross-Up Approach
dollars in millionsAcquired Loans as of the BMO Branch Acquisition Date
Unpaid principal balance$643 
Fair value discount (1)
(5)
Loans at fair value638 
PSL Gross-Up (1)
5 
Loans at fair value, after PSL Gross-Up643 
BMO PSL ALLL(5)
Loans, net of ALLL$638 
(1) The non-credit fair value discount was immaterial, so there is no discount to accrete to interest income over the contractual lives of the applicable loans.