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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 791 $ 518
Interest-earning deposits at banks 36,704 5,025
Securities purchased under agreements to resell 549 0
Investment in marketable equity securities (cost of $75 at September 30, 2023 and $75 at December 31, 2022) 75 95
Investment securities available for sale (cost of $17,836 at September 30, 2023 and $9,967 at December 31, 2022), net of allowance for credit losses 16,661 8,995
Investment securities held to maturity (fair value of $8,152 at September 30, 2023 and $8,795 at December 31, 2022) 10,082 10,279
Assets held for sale 58 60
Loans and leases 133,202 70,781
Allowance for loan and lease losses (1,673) (922)
Loans and leases, net of allowance for loan and lease losses 131,529 69,859
Operating lease equipment, net 8,661 8,156
Premises and equipment, net 1,768 1,456
Goodwill 346 346
Other intangible assets 329 140
Other assets 6,212 4,369
Total assets 213,765 109,298
Deposits:    
Noninterest-bearing 43,141 24,922
Interest-bearing 103,092 64,486
Total deposits 146,233 89,408
Credit balances of factoring clients 1,282 995
Borrowings:    
Short-term borrowings 453 2,186
Long-term borrowings 37,259 4,459
Total borrowings 37,712 6,645
Other liabilities 8,149 2,588
Total liabilities 193,376 99,636
Stockholders’ equity    
Preferred stock - $0.01 par value (20,000,000 and 10,000,000 shares authorized at September 30, 2023 and December 31, 2022, respectively) 881 881
Additional paid in capital 4,106 4,109
Retained earnings 16,267 5,392
Accumulated other comprehensive loss (880) (735)
Total stockholders’ equity 20,389 9,662
Total liabilities and stockholders’ equity 213,765 109,298
Class A Common Stock    
Stockholders’ equity    
Common stock: 14 14
Class B Common Stock    
Stockholders’ equity    
Common stock: $ 1 $ 1