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Investment securities (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Investment Securities
The amortized cost and estimated fair value of investment securities were as follows:
(Dollars in millions)Amortized
Cost (a)		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
March 31, 2025
Investment securities available for sale:
U.S. Treasury $8,065 $31 $11 $8,085 
Mortgage-backed securities:
Government issued or guaranteed:
Commercial4,316 35 11 4,340 
Residential8,422 47 99 8,370 
Other 4 — — 4 
20,807 113 121 20,799 
Investment securities held to maturity:
U.S. Treasury442 — 10 432 
Mortgage-backed securities:
Government issued or guaranteed:
Commercial2,035 — 114 1,921 
Residential8,547 — 800 7,747 
Privately issued36 8 — 44 
State and political subdivisions2,291 — 128 2,163 
Other 1 — — 1 
 13,352 8 1,052 12,308 
Total debt securities$34,159 $121 $1,173 $33,107 
Equity and other securities:
Readily marketable equity — at fair value$280 $2 $2 $280 
Other — at cost706 — — 706 
Total equity and other securities$986 $2 $2 $986 
 
December 31, 2024
Investment securities available for sale:
U.S. Treasury $7,945 $13 $27 $7,931 
Mortgage-backed securities:    
Government issued or guaranteed:    
Commercial3,739 8 45 3,702 
Residential7,368 13 167 7,214 
Other2 — — 2 
19,054 34 239 18,849 
Investment securities held to maturity:
U.S. Treasury 1,015 — 14 1,001 
Mortgage-backed securities:
Government issued or guaranteed:
Commercial2,034 — 157 1,877 
Residential8,773 — 961 7,812 
Privately issued37 9 — 46 
State and political subdivisions2,335 — 117 2,218 
Other 1 — — 1 
14,195 9 1,249 12,955 
Total debt securities$33,249 $43 $1,488 $31,804 
Equity and other securities:
Readily marketable equity — at fair value$235 $3 $3 $235 
Other — at cost772 — — 772 
Total equity and other securities$1,007 $3 $3 $1,007 
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(a)Amortized cost balances of debt securities exclude accrued interest receivable of $168 million and $176 million at March 31, 2025 and December 31, 2024, respectively, which is included as Accrued interest and other assets in the Company's Consolidated Balance Sheet.
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
At March 31, 2025, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows:
(Dollars in millions)Amortized
Cost		Estimated
Fair Value
Debt securities available for sale:
Due in one year or less$3,155 $3,154 
Due after one year through five years4,914 4,935 
Due after five years through ten years— — 
Due after ten years— — 
8,069 8,089 
Mortgage-backed securities12,738 12,710 
$20,807 $20,799 
Debt securities held to maturity:
Due in one year or less$76 $76 
Due after one year through five years614 601 
Due after five years through ten years1,459 1,396 
Due after ten years585 523 
2,734 2,596 
Mortgage-backed securities10,618 9,712 
$13,352 $12,308 
Investment Securities in Continuous Unrealized Loss Position
A summary of investment securities that as of March 31, 2025 and December 31, 2024 had been in a continuous unrealized loss position for less than twelve months and those that had been in a continuous unrealized loss position for twelve months or longer follows:
Less Than 12 Months12 Months or More
(Dollars in millions)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
March 31, 2025
Investment securities available for sale:
U.S. Treasury$814 $1 $2,014 $10 
Mortgage-backed securities:
Government issued or guaranteed:
Commercial1,362 11 26 — 
Residential1,349 10 1,548 89 
Other 1 — 2 — 
3,526 22 3,590 99 
Investment securities held to maturity:
U.S. Treasury 50 — 382 10 
Mortgage-backed securities:
Government issued or guaranteed:
Commercial— — 1,921 114 
Residential764 5 6,761 795 
State and political subdivisions40 1 2,070 127 
854 6 11,134 1,046 
Total$4,380 $28 $14,724 $1,145 
December 31, 2024
Investment securities available for sale:
U.S. Treasury $1,971 $9 $2,554 $18 
Mortgage-backed securities:
Government issued or guaranteed:
Commercial2,566 45 64 — 
Residential4,429 53 1,623 114 
Other — — 2 — 
8,966 107 4,243 132 
Investment securities held to maturity:
U.S. Treasury 50 — 951 14 
Mortgage-backed securities:
Government issued or guaranteed:
Commercial— — 1,877 157 
Residential996 19 6,811 942 
State and political subdivisions39 1 2,131 116 
1,085 20 11,770 1,229 
Total$10,051 $127 $16,013 $1,361