| Parent Company Information |
Parent Company Information The following tables present the Parent Company-only financial information.
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| Condensed Statement of Income |
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| (Dollars in millions) |
2025 |
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2024 |
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2023 |
| Income |
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| Dividends from subsidiaries: |
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| Bank holding companies and related subsidiaries |
$ |
33,600
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$ |
21,300 |
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$ |
22,384 |
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| Interest from subsidiaries |
19,676
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21,589 |
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21,314 |
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| Other income (loss) |
(1,336) |
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(1,223) |
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(1,012) |
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| Total income |
51,940
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41,666 |
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42,686 |
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| Expense |
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| Interest on borrowed funds from subsidiaries |
1,071
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1,108 |
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896 |
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| Other interest expense |
11,750
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14,060 |
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14,119 |
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| Noninterest expense |
1,576
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1,580 |
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1,699 |
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| Total expense |
14,397
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16,748 |
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16,714 |
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| Income before income taxes and equity in undistributed earnings of subsidiaries |
37,543
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24,918 |
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25,972 |
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| Income tax expense |
808
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773 |
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838 |
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| Income before equity in undistributed earnings of subsidiaries |
36,735
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24,145 |
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25,134 |
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| Equity in undistributed earnings (losses) of subsidiaries: |
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| Bank holding companies and related subsidiaries |
(6,338) |
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2,750 |
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993 |
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| Nonbank companies and related subsidiaries |
112
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78 |
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178 |
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| Total equity in undistributed earnings (losses) of subsidiaries |
(6,226) |
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2,828 |
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1,171 |
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| Net income |
$ |
30,509
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$ |
26,973 |
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$ |
26,305 |
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| Condensed Balance Sheet |
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December 31 |
| (Dollars in millions) |
2025 |
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2024 |
| Assets |
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| Cash held at bank subsidiaries |
$ |
7,686
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$ |
4,613 |
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| Securities |
703
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660 |
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| Receivables from subsidiaries: |
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| Bank holding companies and related subsidiaries |
254,525
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231,931 |
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| Banks and related subsidiaries |
59
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146 |
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| Nonbank companies and related subsidiaries |
441
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985 |
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| Investments in subsidiaries: |
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| Bank holding companies and related subsidiaries |
310,216
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309,361 |
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| Nonbank companies and related subsidiaries |
3,907
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3,783 |
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| Other assets |
6,246
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6,658 |
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| Total assets |
$ |
583,783
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$ |
558,137 |
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| Liabilities and shareholders’ equity |
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| Accrued expenses and other liabilities |
$ |
16,498
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$ |
16,360 |
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| Payables to subsidiaries: |
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| Banks and related subsidiaries |
214
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114 |
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| Bank holding companies and related subsidiaries |
388
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14 |
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| Nonbank companies and related subsidiaries |
29,324
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21,011 |
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| Long-term debt |
234,116
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226,675 |
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| Total liabilities |
280,540
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264,174 |
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| Shareholders’ equity |
303,243
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293,963 |
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| Total liabilities and shareholders’ equity |
$ |
583,783
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$ |
558,137 |
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| Condensed Statement of Cash Flows |
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| (Dollars in millions) |
2025 |
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2024 |
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2023 |
| Operating activities |
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| Net income |
$ |
30,509
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$ |
26,973 |
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$ |
26,305 |
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Reconciliation of net income (loss) to net cash provided by operating activities: |
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| Equity in undistributed (earnings) losses of subsidiaries |
6,226
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(2,828) |
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(1,171) |
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| Other operating activities, net |
10,202
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1,986 |
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3,395 |
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Net cash provided by operating activities |
46,937
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26,131 |
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28,529 |
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| Investing activities |
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Net purchases of securities |
(17) |
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(17) |
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(15) |
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| Net payments from (to) subsidiaries |
(22,125) |
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16,858 |
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(21,267) |
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| Other investing activities, net |
(24) |
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— |
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(43) |
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| Net cash provided by (used in) investing activities |
(22,166) |
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16,841 |
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(21,325) |
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| Financing activities |
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Net increase in short-term borrowings |
1
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— |
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— |
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| Net increase in other advances |
8,748
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3,542 |
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2,825 |
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| Proceeds from issuance of long-term debt |
36,510
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17,817 |
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23,950 |
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| Retirement of long-term debt |
(38,785) |
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(36,416) |
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(25,366) |
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| Proceeds from issuance of preferred stock and warrants |
5,493
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— |
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— |
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| Redemption of preferred stock |
(2,669) |
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(5,254) |
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— |
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| Common stock repurchased |
(21,433) |
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(13,104) |
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(4,576) |
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| Cash dividends paid |
(9,563) |
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(9,503) |
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(9,087) |
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Net cash used in financing activities |
(21,698) |
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(42,918) |
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(12,254) |
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| Net increase (decrease) in cash held at bank subsidiaries |
3,073
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54 |
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(5,050) |
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| Cash held at bank subsidiaries at January 1 |
4,613
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4,559 |
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9,609 |
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| Cash held at bank subsidiaries at December 31 |
$ |
7,686
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$ |
4,613 |
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$ |
4,559 |
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