v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
ASSETS    
Cash, cash equivalents, and restricted cash $ 30,230 $ 19,696
Federal funds sold and securities purchased under resale agreements or similar arrangements 9,592 8,640
Investment securities:    
AFS at fair value (amortized cost of $10,506 and $7,956 as of September 30, 2026 and December 31, 2025, respectively) 9,663 7,328
Trading securities 17,833 15,609
HTM (fair value of $20,732 and $11,871 as of September 30, 2026 and December 31, 2025, respectively) 22,584 13,212
Other investments 3,992 2,567
LHFI [1] 141,755 82,891
ALLL (6,697) (6,000)
Net LHFI 135,058 76,891
LHFS [2] 1,973 1,586
Premises and equipment, net 1,303 936
Operating lease assets, net 5,834 8,357
Goodwill 9,245 2,767
Intangible assets, net 2,411 214
Other assets [3] 12,798 6,769
TOTAL ASSETS [4] 262,516 164,572
LIABILITIES    
Deposits and other customer accounts 149,273 78,978
Federal funds purchased and securities loaned or sold under repurchase agreements 22,790 19,460
Trading liabilities 4,025 4,002
Borrowings and other debt obligations 42,816 37,102
Advance payments by borrowers for taxes and insurance 312 147
Accounts payable, accrued expenses and other liabilities 11,711 6,938
TOTAL LIABILITIES [4] 230,927 146,627
Commitments and contingencies (Note 17)
MEZZANINE EQUITY    
Preferred stock (no par value; 7,500,000 shares authorized; 2,500,000 and 2,000,000 shares outstanding at September 30, 2026 and December 31, 2025, respectively) 2,500 2,000
STOCKHOLDER'S EQUITY    
Preferred stock (no par value; 7,500,000 shares authorized; 141,000 and zero shares outstanding at September 30, 2026 and December 31, 2025, respectively) 252 0
Common stock and paid-in capital (no par value; 800,000,000 shares authorized; 530,391,043 shares outstanding at both September 30, 2026 and December 31, 2025, respectively) 29,772 17,307
Accumulated other comprehensive loss, net of tax (965) (533)
Retained earnings (accumulated deficit) 30 (829)
TOTAL STOCKHOLDER'S EQUITY 29,089 15,945
TOTAL LIABILITIES, MEZZANINE AND STOCKHOLDER'S EQUITY $ 262,516 $ 164,572
[1] Includes $3 million and $5 million of loans recorded at fair value at September 30, 2026 and December 31, 2025, respectively.
[2] Includes $1.7 billion and $1.5 billion of loans recorded at the FVO at September 30, 2026 and December 31, 2025, respectively.
[3] Includes MSRs of $83 million and $80 million at September 30, 2026 and December 31, 2025, respectively, for which the Company has elected the FVO.
[4] Includes assets of $21.7 billion and $31.3 billion and liabilities of $14.3 billion and $23.7 billion at September 30, 2026 and December 31, 2025, respectively, which are attributable to consolidated VIEs. See Note 7 to these Condensed Consolidated Financial Statements for additional information.