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Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Composition of Loan Portfolio
The composition of the loan portfolio, by class and underlying specific portfolio type, was as follows:
September 30, 2025December 31, 2024
(Dollars in Millions)AmountPercent of Total AmountPercent of Total
Commercial
Commercial$144,106 37.7 %$135,254 35.6 %
Lease financing4,308 1.1 4,230 1.1 
Total commercial148,414 38.8 139,484 36.7 
Commercial Real Estate
Commercial mortgages38,316 10.0 38,619 10.2 
Construction and development9,928 2.6 10,240 2.7 
Total commercial real estate48,244 12.6 48,859 12.9 
Residential Mortgages
Residential mortgages109,730 28.7 112,806 29.7 
Home equity loans, first liens5,316 1.4 6,007 1.6 
Total residential mortgages115,046 30.1 118,813 31.3 
Credit Card30,594 8.0 30,350 8.0 
Other Retail
Retail leasing3,627 1.0 4,040 1.0 
Home equity and second mortgages13,858 3.6 13,565 3.6 
Revolving credit4,274 1.1 3,747 1.0 
Installment14,592 3.8 14,373 3.8 
Automobile3,868 1.0 6,601 1.7 
Total other retail40,219 10.5 42,326 11.1 
Total loans$382,517 100.0 %$379,832 100.0 %
Activity in Allowance for Credit Losses by Portfolio Class
Activity in the allowance for credit losses by portfolio class was as follows:
Three Months Ended September 30
(Dollars in Millions)		Commercial
Commercial
Real Estate
Residential
Mortgages
Credit Card
Other Retail
Total Loans
2025
Balance at beginning of period$2,239 $1,384 $757 $2,665 $817 $7,862 
Add
Provision for credit losses111 46 28 311 75 571 
Deduct
Loans charged-off129 110 3 344 83 669 
Less recoveries of loans charged-off(37)(7)(4)(60)(25)(133)
Net loan charge-offs (recoveries)92 103 (1)284 58 536 
Balance at end of period$2,258 $1,327 $786 $2,692 $834 $7,897 
2024
Balance at beginning of period$2,180 $1,596 $836 $2,498 $824 $7,934 
Add
Provision for credit losses155 49 (36)349 40 557 
Deduct
Loans charged-off165 80 3 347 74 669 
Less recoveries of loans charged-off(18)(10)(6)(48)(23)(105)
Net loan charge-offs (recoveries)147 70 (3)299 51 564 
Balance at end of period$2,188 $1,575 $803 $2,548 $813 $7,927 
Nine Months Ended September 30
(Dollars in Millions)		Commercial
Commercial
Real Estate
Residential
Mortgages
Credit Card
Other Retail
Total Loans
2025
Balance at beginning of period$2,175 $1,508 $783 $2,640 $819 $7,925 
Add
Provision for credit losses466 (25)1 978 189 1,609 
Deduct
Loans charged-off471 209 11 1,103 248 2,042 
Less recoveries of loans charged-off(88)(53)(13)(177)(74)(405)
Net loan charge-offs (recoveries)383 156 (2)926 174 1,637 
Balance at end of period$2,258 $1,327 $786 $2,692 $834 $7,897 
2024
Balance at beginning of period$2,119 $1,620 $827 $2,403 $870 $7,839 
Add
Provision for credit losses475 82 (31)1,055 97 1,678 
Deduct
Loans charged-off484 152 10 1,042 228 1,916 
Less recoveries of loans charged-off(78)(25)(17)(132)(74)(326)
Net loan charge-offs (recoveries)406 127 (7)910 154 1,590 
Balance at end of period$2,188 $1,575 $803 $2,548 $813 $7,927 
Credit Quality Indicators
The following table provides a summary of loans charged-off by portfolio class and year of origination:
Three Months Ended September 30
(Dollars in Millions)		Commercial
Commercial
Real Estate
Residential
Mortgages
Credit Card(a)
Other RetailTotal Loans
2025
Originated in 2025$4 $— $— $— $3 $7 
Originated in 202416 12 — — 11 39 
Originated in 202312 34 — — 19 65 
Originated in 202213 60 1 — 11 85 
Originated in 20215 — — — 8 13 
Originated prior to 20218 4 2 — 8 22 
Revolving71 — — 344 23 438 
Total charge-offs$129 $110 $3 $344 $83 $669 
2024
Originated in 2024$10 $39 $— $— $4 $53 
Originated in 202316 15 — — 13 44 
Originated in 202248 23 1 — 11 83 
Originated in 20218 — — — 9 17 
Originated in 20203 1 — — 4 8 
Originated prior to 202010 2 2 — 6 20 
Revolving70 — — 347 27 444 
Total charge-offs$165 $80 $3 $347 $74 $669 
Nine Months Ended September 30
(Dollars in Millions)		Commercial
Commercial
Real Estate
Residential
Mortgages
Credit Card(a)
Other RetailTotal Loans
2025
Originated in 2025$24 $— $— $— $3 $27 
Originated in 202474 43 — — 34 151 
Originated in 202350 55 — — 48 153 
Originated in 202252 99 2 — 35 188 
Originated in 202114 1 1 — 33 49 
Originated prior to 202133 5 8 — 25 71 
Revolving224 6 — 1,103 70 1,403 
Total charge-offs$471 $209 $11 $1,103 $248 $2,042 
2024
Originated in 2024$13 $80 $— $— $6 $99 
Originated in 202368 21 — — 34 123 
Originated in 2022132 47 2 — 39 220 
Originated in 202123 — — — 30 53 
Originated in 20209 1 — — 17 27 
Originated prior to 202031 3 8 — 25 67 
Revolving208 — — 1,042 77 1,327 
Total charge-offs$484 $152 $10 $1,042 $228 $1,916 
Note: Year of origination is based on the origination date of a loan, or for existing loans the date when the maturity date, pricing or commitment amount is amended. Predominantly all current year and near term loan origination years for gross charge-offs relate to existing loans that have had recent maturity date, pricing or commitment amount amendments.
(a)Predominantly all credit card loans are considered revolving loans. Includes an immaterial amount of charge-offs related to revolving converted to term loans.
The following table provides a summary of loans by portfolio class and the Company’s internal credit quality rating:
September 30, 2025December 31, 2024
CriticizedCriticized
(Dollars in Millions)Pass
Special
Mention
Classified(a)
Total
Criticized
TotalPass
Special
Mention
Classified(a)
Total
Criticized
Total
Commercial
Originated in 2025$52,825 $208 $465 $673 $53,498 $— $— $— $— $— 
Originated in 202432,628 384 758 1,142 33,770 57,578 503 1,034 1,537 59,115 
Originated in 20239,151 65 383 448 9,599 19,128 173 564 737 19,865 
Originated in 202212,045 24 402 426 12,471 19,718 231 370 601 20,319 
Originated in 20213,028 4 32 36 3,064 4,677 60 92 152 4,829 
Originated prior to 20214,642 61 84 145 4,787 6,812 76 143 219 7,031 
Revolving(b)
30,209 576 440 1,016 31,225 27,344 169 812 981 28,325 
Total commercial144,528 1,322 2,564 3,886 148,414 135,257 1,212 3,015 4,227 139,484 
Commercial real estate
Originated in 202510,556 142 777 919 11,475 — — — — — 
Originated in 20247,222 58 574 632 7,854 9,652 261 1,772 2,033 11,685 
Originated in 20234,052 55 612 667 4,719 5,213 42 760 802 6,015 
Originated in 20226,568 272 675 947 7,515 9,047 661 913 1,574 10,621 
Originated in 20214,938 87 144 231 5,169 6,515 100 196 296 6,811 
Originated prior to 20218,908 149 473 622 9,530 10,822 148 608 756 11,578 
Revolving1,920 47 11 58 1,978 2,078 — 68 68 2,146 
Revolving converted to term4 — — — 4 3 — — — 3 
Total commercial real estate44,168 810 3,266 4,076 48,244 43,330 1,212 4,317 5,529 48,859 
Residential mortgages(c)
Originated in 20258,076 — 1 1 8,077 — — — — — 
Originated in 20248,660 — 12 12 8,672 10,291 — — — 10,291 
Originated in 20238,137 — 31 31 8,168 8,764 — 11 11 8,775 
Originated in 202224,860 — 60 60 24,920 28,484 — 43 43 28,527 
Originated in 202131,300 — 61 61 31,361 34,694 — 35 35 34,729 
Originated prior to 202133,556 — 291 291 33,847 36,211 — 280 280 36,491 
Revolving1 — — — 1 — — — — — 
Total residential mortgages114,590 — 456 456 115,046 118,444 — 369 369 118,813 
Credit card(d)
30,210 — 384 384 30,594 29,915 — 435 435 30,350 
Other retail
Originated in 20254,894 — 2 2 4,896 — — — — — 
Originated in 20245,412 — 9 9 5,421 7,398 — 3 3 7,401 
Originated in 20232,971 — 10 10 2,981 3,966 — 9 9 3,975 
Originated in 20222,893 — 11 11 2,904 4,085 — 11 11 4,096 
Originated in 20214,431 — 10 10 4,441 6,537 — 14 14 6,551 
Originated prior to 20214,238 — 17 17 4,255 5,543 — 21 21 5,564 
Revolving14,369 — 119 119 14,488 13,846 — 120 120 13,966 
Revolving converted to term792 — 41 41 833 731 — 42 42 773 
Total other retail40,000 — 219 219 40,219 42,106 — 220 220 42,326 
Total loans$373,496 $2,132 $6,889 $9,021 $382,517 $369,052 $2,424 $8,356 $10,780 $379,832 
Total outstanding commitments$807,499 $3,212 $8,773 $11,985 $819,484 $778,155 $3,875 $10,441 $14,316 $792,471 
Note: Year of origination is based on the origination date of a loan, or for existing loans the date when the maturity date, pricing or commitment amount is amended. Predominately all current year and nearer term loan origination years for criticized loans relate to existing loans that have had recent maturity date, pricing or commitment amount amendments.
(a)Classified rating on consumer loans primarily based on delinquency status.
(b)Includes an immaterial amount of revolving converted to term loans.
(c)At September 30, 2025, $2.4 billion of GNMA loans 90 days or more past due and $1.5 billion of modified GNMA loans whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs were classified with a pass rating, compared with $2.3 billion and $1.4 billion at December 31, 2024, respectively.
(d)Predominately all credit card loans are considered revolving loans. Includes an immaterial amount of revolving converted to term loans.
Loans by Portfolio Class, Including Delinquency Status
The following table provides a summary of loans by portfolio class, including the delinquency status of those that continue to accrue interest, and those that are nonperforming:
Accruing
(Dollars in Millions)Current
30-89 Days
Past Due
90 Days or
More Past Due
Nonperforming(b)
Total
September 30, 2025
Commercial$147,310 $283 $88 $733 $148,414 
Commercial real estate47,571 75 19 579 48,244 
Residential mortgages(a)
114,443 162 298 143 115,046 
Credit card29,801 409 384 — 30,594 
Other retail39,837 176 51 155 40,219 
Total loans$378,962 $1,105 $840 $1,610 $382,517 
December 31, 2024
Commercial$138,362 $356 $96 $670 $139,484 
Commercial real estate47,948 78 9 824 48,859 
Residential mortgages(a)
118,267 188 206 152 118,813 
Credit card29,487 428 435 — 30,350 
Other retail41,886 229 64 147 42,326 
Total loans$375,950 $1,279 $810 $1,793 $379,832 
(a)At September 30, 2025, $626 million of loans 30–89 days past due and $2.4 billion of loans 90 days or more past due purchased and that could be purchased from GNMA mortgage pools under delinquent loan repurchase options whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs, were classified as current, compared with $660 million and $2.3 billion at December 31, 2024, respectively.
(b)Substantially all nonperforming loans at September 30, 2025 and December 31, 2024, had an associated allowance for credit losses. The Company recognized interest income on nonperforming loans of $4 million and $5 million for the three months ended September 30, 2025 and 2024, respectively, and $14 million and $16 million for the nine months ended September 30, 2025 and 2024, respectively
Loans Modified
The following table provides a summary of period-end balances of loans modified during the periods presented, by portfolio class and modification granted:
Three Months Ended September 30
(Dollars in Millions)
Interest Rate
Reduction
Payment
Delay
Term
Extension
Multiple
Modifications(a)
Total
Modifications
Percent of
Class Total
2025
Commercial$41 $— $110 $23 $174 .1 %
Commercial real estate— — 175 4 179 .4 
Residential mortgages(b)
— 32 8 6 46 — 
Credit card147 — — — 147 .5 
Other retail2 3 26 1 32 .1 
Total loans, excluding loans purchased from GNMA mortgage pools190 35 319 34 578 .2 
Loans purchased from GNMA mortgage pools(b)
— 356163147666.6 
Total loans$190 $391 $482 $181 $1,244 .3 %
2024
Commercial$26 $— $292 $— $318 .2 %
Commercial real estate— — 401 27 428 .8 
Residential mortgages(b)
— 21 3 7 31 — 
Credit card133 2 — — 135 .5 
Other retail2 — 36 2 40 .1 
Total loans, excluding loans purchased from GNMA mortgage pools161 23 732 36 952 .3 
Loans purchased from GNMA mortgage pools(b)
— 391 96 101 588 .5 
Total loans$161 $414 $828 $137 $1,540 .4 %
Nine Months Ended September 30
(Dollars in Millions)		Interest Rate Reduction
Payment
Delay
Term
Extension
Multiple
Modifications(a)
Total
Modifications
Percent of
Class Total
2025
Commercial$79 $1 $309 $66 $455 .3 %
Commercial real estate— — 438 6 444 .9 
Residential mortgages(b)
— 295 12 23 330 .3 
Credit card352 3 — — 355 1.2 
Other retail5 7 70 6 88 .2 
Total loans, excluding loans purchased from GNMA mortgage pools436 306 829 101 1,672 .4 
Loans purchased from GNMA mortgage pools(b)
— 915 368 394 1,677 1.5 
Total loans$436 $1,221 $1,197 $495 $3,349 .9 %
2024
Commercial$63 $— $603 $— $666 .5 %
Commercial real estate49 — 761 27 837 1.7 
Residential mortgages(b)
— 46 15 16 77 .1 
Credit card330 2 — — 332 1.1 
Other retail6 2 98 3 109 .3 
Total loans, excluding loans purchased from GNMA mortgage pools448 50 1,477 46 2,021 .5 
Loans purchased from GNMA mortgage pools(b)
1 1,101 257 281 1,640 1.4 
Total loans$449 $1,151 $1,734 $327 $3,661 1.0 %
(a)Includes $83 million of total loans receiving a payment delay and term extension, $77 million of total loans receiving an interest rate reduction and term extension and $21 million of total loans receiving an interest rate reduction, payment delay and term extension for the three months ended September 30, 2025, compared with $85 million, $44 million and $8 million for the three months ended September 30, 2024, respectively. Includes $230 million of total loans receiving a payment delay and term extension, $208 million of total loans receiving an interest rate reduction and term extension and $57 million of total loans receiving an interest rate reduction, payment delay and term extension for the nine months ended September 30, 2025, compared with $251 million, $56 million and $20 million for the nine months ended September 30, 2024, respectively.
(b)Percent of class total amounts expressed as a percent of total residential mortgage loan balances.
The following table summarizes the effects of loan modifications made to borrowers on loans modified:
Three Months Ended September 30
Weighted-Average
Interest Rate
Reduction
Weighted-Average
Months of Term
Extension
2025
Commercial(a)
8.7 %9
Commercial real estate4.0 10
Residential mortgages1.1 79
Credit card16.0 —
Other retail7.3 4
Loans purchased from GNMA mortgage pools.4 103
2024
Commercial(a)
20.5 %9
Commercial real estate4.4 12
Residential mortgages1.1 92
Credit card16.2 —
Other retail6.4 5
Loans purchased from GNMA mortgage pools.4 109
Nine Months Ended September 30
Weighted-Average
Interest Rate
Reduction
Weighted-Average
Months of Term
Extension
2025
Commercial(a)
10.1 %11
Commercial real estate3.3 9
Residential mortgages1.3 88
Credit card16.1 —
Other retail5.8 8
Loans purchased from GNMA mortgage pools.4 102
2024
Commercial(a)
20.2 %9
Commercial real estate3.1 12
Residential mortgages.9 88
Credit card16.3 —
Other retail7.7 5
Loans purchased from GNMA mortgage pools.5 113
Note: The weighted-average payment deferral for all portfolio classes was less than $1 million for the three and nine months ended September 30, 2025 and 2024. Forbearance payments are required to be paid at the end of the original term loan.
(a)The weighted-average interest rate reduction was primarily driven by commercial cards.
Loans Modified by Delinquency Status
The following table provides a summary of loan balances as of September 30, which were modified during the prior twelve months, by portfolio class and delinquency status:
(Dollars in Millions)  Current
30-89 Days
Past Due
90 Days or
More Past Due
Total
2025
Commercial$423 $18 $76 $517 
Commercial real estate688 — 18 706 
Residential mortgages(a)
1,476 6 10 1,492 
Credit card318 74 39 431 
Other retail87 14 6 107 
Total loans$2,992 $112 $149 $3,253 
2024
Commercial$556 $55 $159 $770 
Commercial real estate752 2 455 1,209 
Residential mortgages(a)
1,487 4 10 1,501 
Credit card298 70 37 405 
Other retail120 17 5 142 
Total loans$3,213 $148 $666 $4,027 
(a)At September 30, 2025, $410 million of loans 30-89 days past due and $288 million of loans 90 days or more past due purchased and that could be purchased from GNMA mortgage pools under delinquent loan repurchase options whose payments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs, were classified as current, compared with $430 million and $265 million at September 30, 2024 respectively.
Loans Modified During the year that Defaulted
The following table provides a summary of loans that defaulted (fully or partially charged-off or became 90 days or more past due) that were modified within twelve months prior to default:
Three Months Ended September 30
(Dollars in Millions)		Interest Rate ReductionPayment DelayTerm Extension
Multiple Modifications(a)
2025
Commercial$10 $— $11 $— 
Commercial real estate— — — — 
Residential mortgages— — 1 1 
Credit card34 — — — 
Other retail1 — 4 — 
Total loans, excluding loans purchased from GNMA mortgage pools45 — 16 1 
Loans purchased from GNMA mortgage pools— 69 51 66 
Total loans$45 $69 $67 $67 
2024
Commercial$8 $— $13 $— 
Commercial real estate— — 180 — 
Residential mortgages— 2 — 1 
Credit card33 — — — 
Other retail1 — 5 — 
Total loans, excluding loans purchased from GNMA mortgage pools42 2 198 1 
Loans purchased from GNMA mortgage pools— 97 50 54 
Total loans$42 $99 $248 $55 
Nine Months Ended September 30
(Dollars in Millions)		Interest Rate Reduction
Payment Delay
Term Extension
Multiple Modifications(a)
2025
Commercial$29 $— $22 $— 
Commercial real estate36 — — — 
Residential mortgages— — 1 4 
Credit card103 — — — 
Other retail2 — 13 — 
Total loans, excluding loans purchased from GNMA mortgage pools170 — 36 4 
Loans purchased from GNMA mortgage pools— 108 71 104 
Total loans$170 $108 $107 $108 
2024
Commercial$20 $— $13 $— 
Commercial real estate— — 204 — 
Residential mortgages— 12 3 4 
Credit card92 — — — 
Other retail2 1 15 — 
Total loans, excluding loans purchased from GNMA mortgage pools114 13 235 4 
Loans purchased from GNMA mortgage pools— 154 80 94 
Total loans$114 $167 $315 $98 
(a)Includes $34 million of total loans receiving a payment delay and term extension, $30 million of total loans receiving an interest rate reduction and term extension, and $3 million of total loans receiving an interest rate reduction, payment delay and term extension for the three months ended September 30, 2025, compared with $49 million, $5 million, and $1 million for the three months ended September 30, 2024, respectively. Includes $59 million of total loans receiving a payment delay and term extension, $44 million of total loans receiving an interest rate reduction and term extension, and $5 million of total loans receiving an interest rate reduction, payment delay and term extension for the nine months ended September 30, 2025, compared with $91 million, $6 million and $1 million for the nine months ended September 30, 2024, respectively.