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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income      
Interest and fees on loans $ 8,187 $ 2,953 $ 1,295
Interest on investment securities 648 354 145
Interest on deposits at banks 1,556 106 11
Total interest income 10,391 3,413 1,451
Interest expense      
Deposits 2,497 335 33
Borrowings 1,182 132 28
Total interest expense 3,679 467 61
Net interest income 6,712 2,946 1,390
Provision (benefit) for credit losses 1,375 645 (37)
Net interest income after provision for credit losses 5,337 2,301 1,427
Noninterest income      
Rental income on operating lease equipment 971 864 0
Realized (loss) gain on sale of investment securities available for sale, net (26) 0 33
Fair value adjustment on marketable equity securities, net (11) (3) 34
Bank-owned life insurance 8 32 3
Gain on sale of leasing equipment, net 20 15 0
Gain on acquisition 9,808 431 0
Gain on extinguishment of debt 0 7 0
Other noninterest income 120 97 36
Total noninterest income 12,075 2,136 508
Noninterest expense      
Depreciation on operating lease equipment 371 345 0
Maintenance and other operating lease expenses 222 189 0
Salaries and benefits 2,636 1,408 759
Net occupancy expense 244 191 117
Equipment expense 422 216 119
Professional fees 73 45 20
Third-party processing fees 203 103 60
FDIC insurance expense 158 31 14
Marketing expense 102 53 10
Acquisition-related expenses 470 231 29
Intangible asset amortization 57 23 12
Other noninterest expense 377 240 94
Total noninterest expense 5,335 3,075 1,234
Income before income taxes 12,077 1,362 701
Income tax expense 611 264 154
Net income 11,466 1,098 547
Preferred stock dividends 59 50 18
Net income available to common stockholders, basic 11,407 1,048 529
Net income available to common shareholders, diluted $ 11,407 $ 1,048 $ 529
Earnings per common share      
Basic (in dollars per share) $ 785.14 $ 67.47 $ 53.88
Diluted (in dollars per share) $ 784.51 $ 67.40 $ 53.88
Weighted average common shares outstanding      
Basic (in shares) 14,527,902 15,531,924 9,816,405
Diluted (in shares) 14,539,613 15,549,944 9,816,405
Fee income and other service charges      
Noninterest income      
Noninterest income $ 268 $ 155 $ 35
Client investment fees      
Noninterest income      
Noninterest income 157 0 0
Wealth management services      
Noninterest income      
Noninterest income 188 142 129
International fees      
Noninterest income      
Noninterest income 93 10 7
Service charges on deposit accounts      
Noninterest income      
Noninterest income 156 98 95
Factoring commissions      
Noninterest income      
Noninterest income 82 104 0
Cardholder services, net      
Noninterest income      
Noninterest income 139 102 87
Merchant services, net      
Noninterest income      
Noninterest income 48 35 33
Insurance commissions      
Noninterest income      
Noninterest income $ 54 $ 47 $ 16