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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 908 $ 518
Interest-earning deposits at banks 33,609 5,025
Securities purchased under agreements to resell 473 0
Investment in marketable equity securities (cost of $75 at December 31, 2023 and $75 at December 31, 2022) 84 95
Investment securities available for sale (cost of $20,688 at December 31, 2023 and $9,967 at December 31, 2022), net of allowance for credit losses 19,936 8,995
Investment securities held to maturity (fair value of $8,503 at December 31, 2023 and $8,795 at December 31, 2022) 9,979 10,279
Assets held for sale 76 60
Loans and leases 133,302 70,781
Allowance for loan and lease losses (1,747) (922)
Loans and leases, net of allowance for loan and lease losses 131,555 69,859
Operating lease equipment, net 8,746 8,156
Premises and equipment, net 1,877 1,456
Goodwill 346 346
Other intangible assets, net 312 140
Other assets 5,857 4,369
Total assets 213,758 109,298
Deposits:    
Noninterest-bearing 39,799 24,922
Interest-bearing 106,055 64,486
Total deposits 145,854 89,408
Credit balances of factoring clients 1,089 995
Borrowings:    
Short-term borrowings 485 2,186
Long-term borrowings 37,169 4,459
Total borrowings 37,654 6,645
Other liabilities 7,906 2,588
Total liabilities 192,503 99,636
Stockholders’ equity    
Preferred stock - $0.01 par value (20,000,000 and 10,000,000 shares authorized at December 31, 2023 and December 31, 2022, respectively) 881 881
Additional paid in capital 4,108 4,109
Retained earnings 16,742 5,392
Accumulated other comprehensive loss (491) (735)
Total stockholders’ equity 21,255 9,662
Total liabilities and stockholders’ equity 213,758 109,298
Class A    
Stockholders’ equity    
Common stock: 14 14
Class B    
Stockholders’ equity    
Common stock: $ 1 $ 1