XML 36 R23.htm IDEA: XBRL DOCUMENT v3.25.3
BUSINESS SEGMENTS
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 16 - BUSINESS SEGMENTS
The Company is managed by its CODM, the Chief Executive Officer, on a segment basis. The Company’s three reportable business segments are Consumer Banking, Commercial Banking, and Non-Core. The business segments are determined based on the products and services provided, or the type of customer served. Each business segment has a segment head that reports directly to the Chief Executive Officer, who has final authority over resource allocation decisions and performance assessment. The business segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer.
The CODM utilizes segment pretax profit or loss as the primary measure to allocate resources to the Company’s business segments during the annual budgeting and forecasting process. This measure is also used to assess the performance of each segment, with a focus on monitoring net interest income, noninterest income, and noninterest expense. To ensure effective oversight, the CODM participates in monthly business review meetings, where budget- and forecast-to-actual variances for pretax profit or loss and its components are analyzed. These evaluations inform the CODM’s decisions regarding the allocation of capital and resources across the business segments, ensuring alignment with the Company’s strategic objectives.
Developing and applying methodologies used to allocate items among the business segments is a dynamic process. Accordingly, financial results may be revised periodically as management systems are enhanced, methods of evaluating performance or product lines are updated, or organizational structure changes occur.
For more information on the Company’s business segments, as well as Other non-segment operations, see Note 26 in the Company’s 2024 Form 10-K.
The following tables present certain financial data of the Company’s business segments:
Three Months Ended September 30, 2025
(dollars in millions)Consumer BankingCommercial Banking
Non-Core
OtherConsolidated
Net interest income$1,262 $448 ($7)($215)$1,488 
Noninterest income311 286 4 29 630 
Total revenue1,573 734 (3)(186)2,118 
Direct expenses(1)(2)
692 223 1 419 1,335 
Indirect expenses(3)
287 110 11 (408)— 
Noninterest expense979 333 12 11 1,335 
Profit (loss) before provision (benefit) for credit losses594 401 (15)(197)783 
Provision (benefit) for credit losses81 78 4 (9)154 
Income (loss) before income tax expense (benefit)513 323 (19)(188)629 
Income tax expense (benefit)130 75 (5)(65)135 
Net income (loss)$383 $248 ($14)($123)$494 
Total average assets$80,729 $66,134 $4,000 $68,254 $219,117 
(1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.
(2) Includes depreciation and amortization of $30 million, $5 million, and $77 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments.
(3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.
Three Months Ended September 30, 2024
(dollars in millions)Consumer BankingCommercial Banking
Non-Core
OtherConsolidated
Net interest income$1,156 $478 ($28)($237)$1,369 
Noninterest income285 207 — 40 532 
Total revenue 1,441 685 (28)(197)1,901 
Direct expenses(1)(2)
586 205 1 467 1,259 
Indirect expenses(3)
330 95 22 (447)— 
Noninterest expense916 300 23 20 1,259 
Profit (loss) before provision (benefit) for credit losses525 385 (51)(217)642 
Provision (benefit) for credit losses84 91 17 (20)172 
Income (loss) before income tax expense (benefit)441 294 (68)(197)470 
Income tax expense (benefit)114 63 (17)(72)88 
Net income (loss)$327 $231 ($51)($125)$382 
Total average assets $75,392 $68,092 $8,389 $66,705 $218,578 
(1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.
(2) Includes depreciation and amortization of $29 million, $6 million, and $79 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments.
(3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.
Nine Months Ended September 30, 2025
(dollars in millions)Consumer BankingCommercial Banking
Non-Core
OtherConsolidated
Net interest income$3,673 $1,328 ($27)($658)$4,316 
Noninterest income937 733 7 97 1,774 
Total revenue4,610 2,061 (20)(561)6,090 
Direct expenses(1)(2)
2,040 660 2 1,266 3,968 
Indirect expenses(3)
856 317 41 (1,214)— 
Noninterest expense2,896 977 43 52 3,968 
Profit (loss) before provision (benefit) for credit losses1,714 1,084 (63)(613)2,122 
Provision (benefit) for credit losses248 239 43 (59)471 
Income (loss) before income tax expense (benefit)1,466 845 (106)(554)1,651 
Income tax expense (benefit)371 195 (27)(191)348 
Net income (loss)$1,095 $650 ($79)($363)$1,303 
Total average assets$79,040 $65,931 $5,241 $67,494 $217,706 
(1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.
(2) Includes depreciation and amortization of $92 million, $15 million, and $230 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments.
(3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.
Nine Months Ended September 30, 2024
(dollars in millions)Consumer BankingCommercial Banking
Non-Core
OtherConsolidated
Net interest income$3,369 $1,486 ($96)($538)$4,221 
Noninterest income820 676 — 106 1,602 
Total revenue 4,189 2,162 (96)(432)5,823 
Direct expenses(1)(2)
1,728 626 3 1,561 3,918 
Indirect expenses(3)
1,006 302 71 (1,379)— 
Noninterest expense2,734 928 74 182 3,918 
Profit (loss) before provision (benefit) for credit losses1,455 1,234 (170)(614)1,905 
Provision (benefit) for credit losses249 262 46 (32)525 
Income (loss) before income tax expense (benefit)1,206 972 (216)(582)1,380 
Income tax expense (benefit)311 223 (55)(207)272 
Net income (loss)$895 $749 ($161)($375)$1,108 
Total average assets $74,510 $69,046 $9,450 $66,514 $219,520 
(1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.
(2) Includes depreciation and amortization of $84 million, $21 million, and $233 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments.
(3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.