Revenue from contracts with customers

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue from contracts with customers

The Company generally charges customer accounts or otherwise bills customers upon completion of its services. Typically, the Company’s contracts with customers have a duration of one year or less and payment for services is received at least annually, but oftentimes more frequently as services are provided. At March 31, 2025 and December 31, 2024, the Company had $68 million and $72 million, respectively, of amounts receivable related to recognized revenue from the sources in the accompanying tables. Such amounts are classified in Accrued interest and other assets in the Consolidated Balance Sheet. In certain situations the Company is paid in advance of providing services and defers the recognition of revenue until its service obligation is satisfied. At March 31, 2025 and December 31, 2024, the Company had deferred revenue of $55 million and $57 million, respectively, related to the sources in the accompanying tables recorded in Accrued interest and other liabilities in the Consolidated Balance Sheet. The following tables summarize sources of the Company’s noninterest income during the three-month periods ended March 31, 2025 and 2024 that are subject to the revenue recognition accounting guidance.

(Dollars in millions)	Commercial Bank		Retail Bank		Institutional Services and Wealth Management		Total
Three Months Ended March 31, 2025
Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	45	$	88	$	—	$	133
Trust income	1		—		176		177
Brokerage services income	1		—		31		32
Other revenues from operations:
Merchant discount and credit card interchange fees	16		21		—		37
Other	9		7		2		18
	$	72	$	116	$	209	$	397
Three Months Ended March 31, 2024
Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	40	$	84	$	—	$	124
Trust income	1		—		159		160
Brokerage services income	2		—		27		29
Other revenues from operations:
Merchant discount and credit card interchange fees	17		20		—		37
Other	8		7		2		17
	$	68	$	111	$	188	$	367